Segment Maturity. At the end of a Segment Term, the Segment Value is either transferred to a new Indexed Account Segment, or to the Fixed Account. Segment Creation – A new Segment is created when there is a transfer to an Indexed Account. The date of the transfer is called the Segment Start Date or Segment Date. Segment Months and Segment Years are measured from this date. Each Segment in each Indexed Account will have its own Growth Cap and Participation Rate. These values for a particular Segment are the values in effect on the Segment Date. The guaranteed minimum values are shown in the Policy Specifications. We may provide a higher Growth Cap or Participation Rate than is shown in the Policy Specifications. Each Segment will have its own unique rates. Once a Segment is created, the Growth Cap and Participation Rate for that Segment will not change during the Segment Term. Segment Start Dates – Segment Start Dates are the dates as of which transfers into the Indexed Account may occur. The Segment Start Dates are shown in the Policy Specifications. For Policies that have a Free Look Transfer Date (see the Definitions section to find out if your Policy has a Free Look Transfer Date), the first transfer to an Indexed Account will occur on the first Segment Start Date following the Free Look Transfer Date. We reserve the right to change the Segment Start Dates and to limit transfers into the Indexed Account, but Segment Start Dates will not occur less frequently than once per calendar quarter. If we change the Segment Start Dates, you will be notified in the Annual Report or other written notice.
Appears in 3 contracts
Samples: Insurance Policy (Pacific Select Exec Separate Acct Pacific Life Ins), Insurance Policy (Pacific Select Exec Separate Acct Pacific Life Ins), Insurance Policy (Pacific Select Exec Separate Acct Pacific Life Ins)
Segment Maturity. At the end of a Segment Term, the Segment Value is either transferred to a new Indexed Account Segment, or to the Fixed Account. Segment Creation – A new Segment is created when there is a transfer to an Indexed Account. The date of the transfer is called the Segment Start Date or Segment Date. Segment Months and Segment Years are measured from this date. Each Segment in each Indexed Account will have its own Growth Cap and Participation Rate. These values for a particular Segment are the values in effect on the Segment Date. The guaranteed minimum values in effect as of the Policy Date are shown in the Policy Specifications. We may provide a higher Growth Cap or Participation Rate than is shown If these values change, you will be notified in the Policy Specifications. Each Segment will have its own unique rates. Once a Segment is created, the Growth Cap and Participation Rate for that Segment will not change during the Segment TermAnnual Report or other written notice. Segment Start Dates – Segment Start Dates are the dates as of which transfers into the Indexed Account may occur. The Segment Start Dates are shown in the Policy Specifications. For Policies that have a Free Look Transfer Date (see the Definitions section to find out if your Policy policy has a Free Look Transfer Date), the first transfer to an Indexed Account will occur on the first Segment Start Date following the Free Look Transfer Date. We reserve the right to change the Segment Start Dates and to limit transfers into the Indexed Account, but Segment Start Dates will transfers may occur not occur less frequently than once per calendar quarter. If we change the Segment Start Dates, you will be notified in the Annual Report or other written notice.
Appears in 2 contracts
Samples: Insurance Policy (Pacific Select Exec Separate Acct Pacific Life Ins), Life Insurance Policy (Pacific Select Exec Separate Acct Pacific Life Ins)
