Annuity Value definition

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

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 pro rata 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 Stock Exchange closes. COMPANY - Cova Financial Life Insurance Company ("Cova").

Examples of Annuity Value in a sentence

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

• 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.

• For the purposes of any qualified plan riders which may be attached to this contract, the term "Annuity Value," wherever referenced therein, shall mean the "adjusted value of the Annuity Account" as defined above.

• 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.

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

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, with respect to your account under any defined contribution plan, the monthly amount of single life annuity, beginning at age sixty-five, that could be purchased with the fair market value of that account as of the valuation last preceding the first payment under this letter or such plan, whichever occurs first. For this purpose, amounts contributed by you and any earnings thereon shall be disregarded and the interest and mortality assumptions used to determine optional benefits under the UTI Pension Plan in which you last were an active participant shall apply; provided that the annuity value of your account under the UTI Corporation 401(K) Plan will be determined as if the Company had contributed 2% of your base pay for each year in which matching contributions are made, with earnings determined at the annual rate paid on the guaranteed investment fund of the 401(K) Plan for each year.

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.