Segment Maturity Value definition
Examples of Segment Maturity Value in a sentence
However, if the same Segment Type has been terminated, your Segment Maturity Value will be transferred to the Variable Investment Option shown in your Data Pages.
We determine the Segment Interim Value of your investment in a Segment on each Business Day that falls between the Segment Start Date and Segment Maturity Date, based on the estimated value of financial instruments consistent with current market prices and representing our obligation to provide your Segment Maturity Value on the Segment Maturity Date.
Upon maturity of a Segment, the Segment Maturity Value is transferred to another Investment Option as described in Section 2.03.
We determine your Segment Maturity Value on the Segment Maturity Date based on your Segment Rate of Return as shown in the Segment Rate of Return Section in the applicable Segment Option Rider and your Segment Return Amount, as described in Section 2.01(p).
Your Segment Maturity Value is the sum of your Segment Investment plus your Segment Return Amount on the Segment Maturity Date.
On a Segment Maturity Date, any Segment Maturity Value to be transferred to a new Segment pursuant to your Segment Maturity Date instructions or as otherwise provided in Section 2.05 is transferred to the designated Segment.
If you have not provided us with instructions for allocation of the Segment Maturity Value, your Segment Maturity Value will be allocated to the same Segment Type as the Segment that matured for transfer to the next new Segment of that Type as described in Section 4.01A.
On your Segment Maturity Date, we will reallocate the Segment Maturity Value to your instructions on file among the available Investment Options, unless you request either a withdrawal or transfer of any portion of your Segment Maturity Value, or a combination thereof, in which case, we will process withdrawals before transfers.
If there are any amounts remaining after your withdrawal and transfer requests are processed, then a reallocation of your remaining Segment Maturity Value will be processed based on your instructions on file.
In the event of a change to the Segment Maturity Date, we will use the closing value from the next Business Day to determine the Segment Maturity Value.