Minimum Guaranteed Contract Value. The Minimum Guaranteed Contract Value equals the greater of: (1) The sum of the Minimum Guaranteed Strategy Value of each Strategy; or (2) 100% of the Premium, less premium taxes, if applicable, less: (a) Any Surrenders of Accumulation Value; plus (b) Interest credited and compounded daily in a manner to yield the annual rate of 1.00%; less (c) Any Surrender Charges.
Appears in 6 contracts
Samples: Modified Single Premium Deferred Annuity Contract (VOYA RETIREMENT INSURANCE & ANNUITY Co), Modified Single Premium Deferred Annuity Contract (VOYA RETIREMENT INSURANCE & ANNUITY Co), Modified Single Premium Deferred Annuity Contract (VOYA RETIREMENT INSURANCE & ANNUITY Co)
