Guaranteed Cash Value definition

Guaranteed Cash Value means the Guaranteed Cash Values shown in the Table of Guaranteed Values for the end of the applicable policy year. Guaranteed cash values for other policy years or portions of policy years may be obtained from the Company on request.

Guaranteed Cash Value means the amount derived from the tabular cash value shown in Policy Schedule 2 and is calculated based on the relevant Policy Amount at any time.

Guaranteed Cash Value means, for the first day of any Plan Year, the cash surrender value the Policy would have on such day if (i) every dividend declared on the Policy for any prior Plan Year had been applied as a net single premium to purchase paid-up whole life insurance or to fund a Permitted Payment; (ii) the Policy has not lapsed on account of nonpayment of Premiums; (iii) the Policy has not been surrendered in whole or in part (unless any amount obtained upon such surrender has not been applied to fund a Permitted Payment); (iv) no loan has been taken from the Insurer with respect to the Policy (unless the proceeds from such loan have been applied to fund a Permitted Payment); (v) the Company funded all Permitted Payments made on or before such day with amounts obtained

Examples of Guaranteed Cash Value in a sentence

• Automatic Premium Payment Rider: Provides for any Scheduled Premium due and unpaid by the end of any Policy Grace Period to be paid by an automatic deduction from the Account Value, if the Account Value exceeds the Guaranteed Cash Value.

• The "Guaranteed Cash Value" of an annuity policy shall mean the present value, as of the last anniversary of such policy for which premiums have been paid, of future benefits provided by the policy, as such present value is determined in accordance with or as indicated in the table of values set forth in the policy, less any outstanding loans and loan interest.

• The Policy's Death Benefit or current Face Amount, its current and Guaranteed Cash Value, if any, its Fund Account or Accumulation Value, if any, and its required Premium, if any, will be reduced by the Benefit Ratio.

• The Guaranteed Cash Value Table reflects a quarterly Participant Service Charge of $7.50 (see Section 3.08) and a premature Guarantee Withdrawal Charge (see Section 1.05) of up to 7% of the Account Balance.

More Definitions of Guaranteed Cash Value

Guaranteed Cash Value means the present value, as of the last anniversary of the Policy to which premiums have been paid, of future benefits provided by the Policy, as such present value is determined in accordance with or as indicated in the Table of Values set forth in the Policy, less any outstanding loans and loan interest.

Guaranteed Cash Value means the amount derived from the tabular cash values shown in Policy Schedule 2 and is calculated based on the relevant Maturity Benefit at any time.

Guaranteed Cash Value means, for any day of any Plan Year, the Assumed Cash Value on such day (determined as if the dividend rate for all preceding years were the minimum rate guaranteed by the Policy).

Guaranteed Cash Value of an annuity policy shall mean the present value, as of the last anniversary of such policy for which premiums have been paid, of future benefits provided by the policy, as such present value is determined in accordance with or as indicated in the table of values set forth in the policy, less any outstanding loans and loan interest. Upon the death of Executive either: (i) after attaining age 65, if Executive's employment with the Company continues until he attains age 65 or (ii) any time subsequent to Executive acquiring ownership of one or more of the annuity policies identified on Schedule 1 attached hereto pursuant to either Paragraph 4(i) or Paragraph 4(j) hereof, the Company shall pay to the beneficiary or beneficiaries designated by Executive, or to his estate if there is no named beneficiary, an amount equal to the full death benefits payable under the annuity policies acquired by Executive pursuant to either Paragraph 4(i) or Paragraph 4(j) hereof, without any Reduction Amount with respect to such annuity policies.

Guaranteed Cash Value means the cash value of every thousand dollars at a particular Policy Anniversary during the period between the Policy Date and Maturity Date as SPECIMEN specified in the Guaranteed Cash Value Table, is multiplied by the Nominated Amount and then divided by one thousand (1,000). If the effective date of surrender does not fall on a Policy Anniversary, the Company shall have absolute discretion to determine the Guaranteed Cash Value payable on a reasonable level.

Guaranteed Cash Value means the amount derived from the tabular percentage shown in provision A22.

Guaranteed Cash Value of a Policy is its contractually guaranteed cash value only.