Interest crediting period means the period of time over which the performance of an external index or external indices is measured for purposes of determining the amount of interest credited under an indexed product.
Interest crediting period. A period of time determined by TALIC of at least [six] but not more than [twelve] months for which a rate of interest will be determined by TALIC. “Measuring Index” [The Measuring Index shall equal a blend of (i) 30% Barclays Capital U.S. Intermediate Government Index, (ii) 40% Barclays Capital U.S. Intermediate Corporate Index, and (iii) 30% Barclays Capital US MBS 15 Year Conventional Index.] If a component of the Measuring Index is discontinued, or if the calculation of the Measuring Index is substantially changed, TALIC may substitute a comparable index. TALIC will send the Contractholder a notice in writing before any such substitution is made.
Examples of Interest crediting period in a sentence
At the end of each Interest Crediting Period, the rates of interest will expire and new rates will be declared.
The Contractholder’s Balance in the Contract during a particular Interest Crediting Period will receive interest credits equal to (i) the New Money Rate of Interest on all new Contributions received during that period, and (ii) the Portfolio Rate of Interest on the Contractholder’s Balance, less any Contributions received during that period.
TALIC will determine the New Money Rate of Interest and the Portfolio Rate of Interest for each Interest Crediting Period.