MAXIMUM ANNIVERSARY VALUE. The highest attained Anniversary Value (defined below) prior to the earlier of the date of death or the decedent’s [71st] birthday.
MAXIMUM ANNIVERSARY VALUE. The highest attained Anniversary Value prior to the earlier of the date of death or the decedent's 81st birthday. NET ASSET VALUE PER SHARE - The value per share of any Fund on any Valuation Day. This amount will never be less than that required by the Securities and Exchange Commission. PAYEE - The person, designated by You, to whom Xxxxxxx payments will be made. PREMIUM TAX - The amount of tax, if any, charged by a federal, state, or other governmental entity on premium payments or Contract Values. On any contract subject to a Premium Tax, We may deduct the tax at the time We pay the tax to the applicable taxing authorities, at the time the contract is surrendered or on the Annuity Commencement Date. If We deduct the tax after Your premium payments have been applied to the Accounts, the tax will be deducted from the Accounts on a pro-rata basis. SEPARATE ACCOUNT - An Account that We established to separate the assets funding the variable benefits for this type of contract from Our other assets. The assets in the Separate Account are not chargeable with liabilities arising out of any other business We may conduct. The name of the Separate Account is shown on Page 3.
MAXIMUM ANNIVERSARY VALUE. (“MAV”): The MAV will be recalculated on each Reset Date, as shown on the Certificate Data Page, and on the date of every withdrawal from the Owner’s Fund Account Value during the Funding Phase. On the Issue Date, the MAV is equal to the Fund Account Value. On each Reset Date, if the Fund Account Value exceeds the MAV, the MAV will be reset to equal the Fund Account Value. If a withdrawal is an Eligible Withdrawal, the MAV will remain unchanged. If a withdrawal is an Ineligible Withdrawal, the MAV will be recalculated to equal (X) multiplied by (Y) divided by (Z) where:
Examples of MAXIMUM ANNIVERSARY VALUE in a sentence
MAXIMUM ANNIVERSARY VALUE -- A value used in determining the death benefit.
Enter the foreign nation or country to which the applicant owes legal allegiance.
MAXIMUM ANNIVERSARY VALUE (MAV) The MAV equals the ROPP value prior to the first Contract Anniversary after the effective date of this rider.
He stated that residential use is not economically feasible for this site.
MAXIMUM ANNIVERSARY VALUE (MAV) The MAV is set equal to the initial Purchase Payment (not including any applicable bonus) on the Issue Date.
More Definitions of MAXIMUM ANNIVERSARY VALUE
MAXIMUM ANNIVERSARY VALUE. The greatest Anniversary Value attained.
MAXIMUM ANNIVERSARY VALUE. The highest attained Anniversary Value prior to the earlier of the date of death or the decedent's 81st birthday. NET ASSET VALUE PER SHARE - The value per share of any Fund on any Valuation Day. This amount will never be less than that required by the Securities and Exchange Commission. PAYEE - The person, designated by You, to whom Xxxxxxx payments will be made. PREMIUM TAX - The amount of tax, if any, charged by a federal, state, or other governmental entity on a pro-rata basis from the Accounts at the time We pay the tax to the applicable taxing authorities, at the time the contract is surrendered or on the Annuity Commencement Date. SEPARATE ACCOUNT - An Account that We established to separate the assets funding the variable benefits for this type of contract from Our other assets. The assets in the Separate Account are not chargeable with liabilities arising out of any other business We may conduct. The name of the Separate Account is shown on Page 3.
MAXIMUM ANNIVERSARY VALUE. The highest attained Anniversary Value prior to the earlier of the date of death or the decedent's 81st birthday. NET ASSET VALUE PER SHARE - The value per share of any Fund on any Valuation Day. This amount will never be less than that required by the Securities and Exchange Commission. PAYEE - The person, designated by You, to whom Annuity payments will be made. PAYMENT ENHANCEMENT(S) - An amount that We credit to Your Contract Value at the time a Premium Payment is applied. Each applicable Payment Enhancement will be separately calculated and applied to the Contract Value at the time of each Premium Payment, based on the cumulative total amount of Premium Payments applied to this contract. PREMIUM PAYMENT - The amount that You pay to Us as consideration for the benefits provided by this contract. Premium Payments do not include any credited Payment Enhancement(s). VAXC99-6/7 PRINTED IN U.S.A. T816R0.FRM DEFINITION OF PREMIUM TAX - The amount of tax, if any, CERTAIN TERMS charged by a federal, state, or other (CONTINUED) governmental entity on Premium Payments or Contract Values. On any contract subject to a Premium Tax, We may deduct the tax at the time We pay the tax to the applicable taxing authorities, at the time the contract is surrendered or on the Annuity Commencement Date. If We deduct the tax after Your Premium Payments have been applied to the Accounts, the tax will be deducted from the Accounts on a pro-rata basis. SEPARATE ACCOUNT - An Account that We established to separate the assets funding the variable benefits for this type of contract from Our other assets. The assets in the Separate Account are not chargeable with liabilities arising out of any other business We may conduct. The name of the Separate Account is shown on Page 3.
MAXIMUM ANNIVERSARY VALUE. The highest attained anniversary value prior to the earlier of the date of death or the oldest Owner or Annuitant’s [81st] birthday determined as follows: We calculate an anniversary value for every applicable Contract Anniversary. At the time of each Contract Anniversary, the anniversary value is equal to the Contract Value. Any time after a given Contract Anniversary, the anniversary value is restated to be equal to the Contract Value as of the Contract Anniversary, increased by the dollar amount of any Premium Payments received, and modified by adjustments for Partial Surrenders and Transfers to Other Account(s) since such Contract Anniversary.
MAXIMUM ANNIVERSARY VALUE. To determine the Maximum Anniversary Value, we will calculate an anniversary value for the Contract Date and for each Contract Anniversary through the earlier of the Benefit Base Limitation Date shown on the GMIB Schedule and the date you exercise GMIB. An anniversary value is equal to the Contract Value on the Contract Date and on each Contract Anniversary, increased by premium payments and decreased by "adjusted" withdrawals since the Contract Date or that anniversary. The Maximum Anniversary Value is equal to the greatest of these anniversary values.
MAXIMUM ANNIVERSARY VALUE. A value used in determining the death benefit. It is based on a series of calculations of Account Values on Contract Anniversaries, premium payments and partial surrenders. As of the date of death, the Company will calculate an Anniversary Value for each Contract Anniversary prior to the deceased's attained age 81. The Anniversary Value is equal to the Account Value on a Contract Anniversary, increased by the dollar amount of any premium payments made since that anniversary and reduced by the dollar amount of any partial surrenders since that anniversary. The Maximum Anniversary Value is equal to the greatest Anniversary Value attained from this series of calculations. PREMIUM TAX - The amount of tax, if any, charged by a federal, state or municipal entity on premium payments or Contract Values. SEPARATE ACCOUNT - An Account established by the Company to separate the assets funding the variable benefits for the class of contracts to which this contract belongs from the other assets of the Company. The assets in the Separate Account are not chargeable with liabilities arising out of any other business the Company may conduct. The Separate Account and the Funds, which are the underlying securities of the Separate Account, are listed on the Contract Specifications on Page 3 of this contract. SUB-ACCOUNT - The subdivisions of the Separate Account which are used to determine how the Contract Owner's Account is allocated between the Funds.
MAXIMUM ANNIVERSARY VALUE. The highest attained Anniversary Value prior to the earlier of the date of death or the decedent's 81st birthday.