Annuity Value definition

Annuity Value. The value of the contract available to be applied to an annuity option.

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Annuity Value means the amount determined on the Annuitant's Retirement Date, equal to the sum of the Cash Value of the Annuitant's Accounts.

Annuity Value. The Contract Value less any applicable taxes less the prorata deduction of the Contract Maintenance Charge which is applied to the applicable Annuity Table to determine the initial Annuity Payment. ATTAINED AGE - The age on the birthday prior to any date for which age is to be determined. BENEFICIARY - The person(s) or entity(ies) who will receive any death benefit payable under this Contract. BUSINESS DAY - Each day that the New York Stock Exchange is open for business. Our business day closes when the New York Exchange closes. COMPANY - Cova Financial Life Insurance Company ("Cova").

Examples of Annuity Value in a sentence

• Under certain annuity contracts, the Annuity Value is available upon maturity only if payments are to be made for life or some minimum number of years.

• Under certain annuity contracts, the Annuity Value is available upon maturity only if payments are to be made for life or for a minimum number of years.

• Such amount is the Annuity Value on the Maturity Date, less any applicable Premium Tax.

• The Tables of Guaranteed Annuity Payments set forth the minimum amount of monthly income that $1,000 of Annuity Value will provide under the terms of this Contract, as indicated, on either the Life Annuity Form or the Joint and Survivor Life Annuity Form (with 100% of the amount of your payment continued to your spouse).

• CASH BACK Upon notification of the Annuitant's death, any excess of the Annuity Value applied over the total amount of the annuity benefit payments will be paid to the Owner or Beneficiary, whichever is applicable.

More Definitions of Annuity Value

Annuity Value has the same meaning as set forth in the Reinsured Plan.

Annuity Value. The annuity value is the contract value less any contract maintenance charge less any applicable taxes.

Annuity Value. The amount that will be applied on the Annuity Date to purchase an Annuity, as described in Section 11.2 of the Contract.

Annuity Value as used in this rider shall mean the appropriate value described in the Contract that the Contract Owner is entitled to withdraw or borrow.

Annuity Value means the amount to which a Participant is (or would be) entitled under the Deferred Profit-Sharing Plan, determined under Section 8.

Annuity Value means the amount, determined on the Participant's Retirement Date, equal to the sum of the Account Balances of the Participant's Investment Accounts. The term "Amount Applied" means the portion of the Annuity Value which the Participant elects to apply toward an Annuity Benefit pursuant to Section 4.02, less any applicable State Premium Tax as determined by Equitable, less an administrative fee of $175. Each monthly payment under an Annuity Benefit under the Contract will be the amount provided pursuant to Section 4.03. The Normal Form of an Annuity Benefit under the Contract is the Full Cash Refund Annuity form which provides for equal monthly payments to the Participant beginning on the Participant's Retirement Date and ending with the last monthly payment due before the Participant's death, and, upon receipt by Equitable of due proof of the Participant's death, a single sum payment to the beneficiary designated to receive such payment of an amount equal to the excess, if any, of the Amount Applied over the sum of all the annuity payments that have been paid to the Participant under the Contract.

Annuity Value. The greater of: (a) the Adjusted Account Value; and (b) the Adjusted Certificate Value.