Guaranteed Minimum Interest Rate definition

Guaranteed Minimum Interest Rate means the minimum interest rate that will be credited to the contract value. This rate will never be less than zero (0%).
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Guaranteed Minimum Interest Rate. [1.00% for the calendar year of issue] Minimum DCA Transfer Amounts: Monthly [$25] Quarterly [$75] Semi-Annual [$100] Annual [$300] GIA Transfer Limit: [12 transfers per Contract Year] Maximum GIA Transfer Amount [$1,000] Maximum GIA Transfer Percentage [25%] GIA Payment Limit [$250,000] Minimum Withdrawal Amount: [$100] Minimum Premium Payment: [$200] Maximum Premium Payment: [$1,000,000] Maximum Aggregate Premium Payment: [$5,000,000] Assumed Investment Rate: [4.5%] VASP-ENH2 7 ME
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Guaranteed Minimum Interest Rate. [1.00% for the calendar year of issue] Minimum DCA Transfer Amounts: Monthly [$25] Quarterly [$75] Semi-Annual [$100] Annual [$300] Maximum Transfer Limit: [12 per Contract Year, from any account] GIA Transfer Limit: [12 transfers per Contract Year]
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Examples of Guaranteed Minimum Interest Rate in a sentence

  • Any declaration will be by class and will be based solely on our expectations of future earnings, but will never be less than the Guaranteed Minimum Interest Rate shown in the Schedule.

  • Guaranteed Minimum Interest Rate - 3% Guarantee Periods We currently offer Guarantee Periods of 1, 3, 5, 7 and 10 years.

  • Purchase PaymentFixed Account Guaranteed Minimum Interest Rates and Guaranteed Minimum Indexed Interest CapsThe Fixed Account Guaranteed Minimum Interest Rate is 0.25%.

  • The Guaranteed Minimum Interest Rate is an effective annual rate of 3.0%.

  • Wheeler Brenda Scotchmer Tammy Hurd-Harvey Nate AldermanChristopher Brewer Scott Sprague Kathy MullerHank Chapman Matt Sousa Lise ReynoldsLEGISLATORS:Scott J.

  • The Guaranteed Minimum Interest Rate is an effective annual rate of 3.0% INDEX OF INVESTMENT EXPERIENCE - The index that measures the performance of a Variable Separate Account Division.

  • The Guaranteed Minimum Interest Rate will be set on January 1st of each calendar year and will apply to any deposits, transfers or renewals made during that calendar year.

  • The Crediting Rates will never be less than the Guaranteed Minimum Interest Rate shown in the MVA Option Schedule Supplement.

  • The Guaranteed Minimum Interest Rate will be equal to the 5 Year Constant Maturity Treasury (CMT) Rate, less 1.25%, but will never be less than 1.00% or greater than 3.00%.

  • We reserve the right to limit subsequent purchase payments on a non-discriminatory basis with notification when the yield on new or existing investments would not support the Fixed Account Guaranteed Minimum Interest Rate.


More Definitions of Guaranteed Minimum Interest Rate

Guaranteed Minimum Interest Rate. (For the Interest Rate Guarantee Periods) Interest rates credited to the interest rate guarantee periods of the guaranteed interest account are guaranteed never to be less than the guaranteed minimum interest rate. The guaranteed minimum interest rate (for the interest rate guarantee periods) is shown on the schedule page. Taxes Some states charge a premium tax. We will deduct premium taxes if we must pay them. This may occur, for example, at the time when you pay a premium, surrender the policy, make a full or partial withdrawal, when the policy reaches the maturity date, or when a death benefit is paid. No charges are currently imposed for Federal, state, or local taxes other than state premium taxes. However, we reserve the right to deduct charges in the future for such taxes that are attributable to this policy. Transfers During the accumulation period, you may transfer the accumulation value among variable sub-accounts of the separate account and the interest rate guarantee periods of the guaranteed interest account. However, there may be restrictions on transfers from the interest rate guaranteed periods, see your schedule page for any limitations. During the annuity period, if you have chosen a variable annuity payment option, you may transfer the separate account value among the various variable sub-accounts, or to a fixed payment option. However, values are not permitted to be transferred from a fixed payment option. There are no limits on the number of transfers allowed. However, a transfer fee may be deducted from the accumulation value after you make 12 transfers in a policy year. The transfer fee may be applied to each transfer made. All transfers are subject to minimum amounts. Transfers from the guaranteed interest account may be subject to a MVA. Cash Surrender Value The cash surrender value before annuity payments begin equals:
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Guaranteed Minimum Interest Rate. The Guaranteed Minimum Interest Rate is the lowest Guaranteed Interest Rate we will declare for a Renewal Guarantee Period at any time while this Contract is in effect. The Guaranteed Minimum Interest Rate is disclosed on your Schedule Page and is guaranteed for the life of the Contract.
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Guaranteed Minimum Interest Rate means the minimum interest rate that will be credited to the contract value. This rate will never be less than zero (0%). Comment from the Oregon Division of Financial Regulation: The proposed standard allows for a guaranteed minimum interest rate of 0% rather than greater than 0. Insurance Compact Office comment: During development of the draft, group annuity writers indicated that a guaranteed minimum interest rate of 0% is needed and is approved by states in current filings. Insurance Compact Office update following the 6/18/19 PSC member call: It was noted that during development of the draft, group annuity writers indicated that a guaranteed minimum interest rate of 0% is needed and is approved by states in current filings. PSC members were asked if any states had requirements for greater than 0% and no member responded affirmatively. More information regarding the underlying basis for the requested minimum will be solicited from interested parties. In speaking with the group annuity insurers, they noted that they believe this is an Oregon specific issue. They noted that requirements above 0% are generally due to nonforfeiture laws and retirement plans are not subject to nonforfeiture requirements. The minimum interest rate still provides the contract benefits and guarantees the principle.
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Related to Guaranteed Minimum Interest Rate

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • LIBOR Interest Rate means, for each LIBOR Loan for the relevant Interest Period, the rate per annum (rounded upward, if necessary, to the nearest one-sixteenth of 1%) determined by the Agent to be equal to the quotient of (a) the London Interbank Offered Rate for such LIBOR Loan for such Interest Period divided by (b) one minus the Eurocurrency Reserve Requirement for such Interest Period.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

  • 5-year Mid-Swap Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period:

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Floating Interest Rate means: (a) initially Three-Month Term SOFR (as defined below). (b) Notwithstanding the foregoing clause (i) of this Section 2(b): (i) If the Calculation Agent, determines prior to the relevant Floating Interest Determination Date that a Benchmark Transition Event and its related Benchmark Replacement Date (each of such terms as defined below) have occurred with respect to Three-Month Term SOFR, then the Company shall promptly provide notice of such determination to the Holders and Section 2(c) (Effect of Benchmark Transition Event) will thereafter apply to all determinations, calculations and quotations made or obtained for the purposes of calculating the Floating Interest Rate payable on the Subordinated Notes during a relevant Floating Interest Period. (ii) However, if the Calculation Agent, determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR, but for any reason the Benchmark Replacement has not been determined as of the relevant Floating Interest Determination Date, the Floating Interest Rate for the applicable Floating Interest Period will be equal to the Floating Interest Rate on the last Floating Interest Determination Date for the Subordinated Notes, as determined by the Calculation Agent (as defined below). (iii) If the then-current Benchmark is Three-Month Term SOFR and any of the foregoing provisions concerning the calculation of the interest rate and the payment of interest during the Floating Interest Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the Company, then the relevant Three-Month Term SOFR Conventions will apply.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.

  • Mid-Swap Rate means, in relation to a Reset Determination Date and subject to Condition 4(b)(ii), either:

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • Base Interest Rate means a rate of interest based on the LIBOR-Rate. "Base Interest Rate Loan" means amounts outstanding under this note that bear interest at a Base Interest Rate. "Base Rate Maturity Date" means the last day of the Interest Period with respect to principal outstanding under a Base Interest Rate Loan. "Business Day" means a day on which Bank is open for business for the funding of corporate loans, and, with respect to the rate of interest based on the LIBOR Rate, on which dealings in U.S. dollar deposits outside of the United States may be carried on by Bank. "Interest Period" means with respect to funds bearing interest at a rate based on the LIBOR Rate, any calendar period of one, three, six, nine or twelve months. In determining an Interest Period, a month means a period that starts on one Business Day in a month and ends on and includes the day preceding the numerically corresponding day in the next month. For any month in which there is no such numerically corresponding day, then as to that month, such day shall be deemed to be the last calendar day of such month. Any Interest Period which would otherwise an on a non-Business Day shall end on the next succeeding Business Day unless that is the first day of a month, in which event such Interest Period shall end on the next preceding Business Day. "LIBOR Rate" means a per annum rate of interest (rounded upward, if necessary, to the nearest 1/100 of 1%) at which dollar deposits, in immediately available funds and in lawful money of the United Sates would be offered to Bank, outside of the United Sates, for a term coinciding with the Interest Period selected by Debtor and for an amount equal to the amount of principal covered by Debtors' interest rate selection, plus Bank's costs, including the costs, if any, of reserve requirements. "Origination Date" means the first day of the Interest Period. "Reference Rate" means the rate announced by Bank from time to time at its corporate headquarters as its Reference Rate. The Reference Rate is an index rate determined by Bank from time to time as a means of pricing certain extensions of credit and is neither directly tied to any external rate of interest or index nor necessarily the lowest rate of interest or index nor necessarily the lowest rate of interest charged by Bank at any given time.

  • Interest Rate Cap means a Cap.

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Applicable Interest Rate means, (i) with respect to each Revolving Credit Advance and Term Loan Advance, the Eurodollar-based Rate or the Base Rate, and (ii) with respect to each Swing Line Advance, the Base Rate or, if made available to the Borrower by the Swing Line Lender at its option, the Quoted Rate, in each case as selected by the Borrower from time to time subject to the terms and conditions of this Agreement.

  • Minimum Mortgage Rate With respect to each Adjustable-Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the minimum Mortgage Rate thereunder.

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • Maximum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the maximum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be increased on any Adjustment Date.

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).