Subsequent Variable Annuity Payments definition
Subsequent Variable Annuity Payments. The dollar amount of each subsequent variable annuity payment is the sum of the payments from each Portfolio, which are determined by multiplying the number of Annuity Units credited for that Portfolio by the Annuity Unit value of that Portfolio as of the 15th of the month preceding the annuity payment. If the NYSE is not open on that date, the calculation will be made on the next day that the NYSE is open.
Subsequent Variable Annuity Payments. For each Portfolio, the dollar amount of each subsequent variable annuity payment is determined by multiplying the number of Annuity Units credited for that Portfolio by the Annuity Unit value of that Portfolio as of the 15th of the month preceding the annuity payment. If the NYSE is not open on that date, the calculation will be made on the next day that the NYSE is open. The total of each subsequent variable annuity payment will be the sum of the amounts calculated for each Portfolio.
Examples of Subsequent Variable Annuity Payments in a sentence
Subsequent Variable Annuity Payments: The dollar amount of each subsequent variable annuity payment is the sum of the payments from each Sub- account, which are determined by multiplying the number of Annuity Units credited for that Portfolio by the Annuity Unit value of that Sub-account as of the 15th of the month preceding the annuity payment.
Subsequent Variable Annuity Payments: The dollar amount of each subsequent variable annuity payment is the sum of the payments from each Sub-account, which are determined by multiplying the number of Annuity Units credited for that Portfolio by the Annuity Unit value of that Sub-account as of the 15th of the month preceding the annuity payment.