VALUE ACCUMULATION TEST definition

VALUE ACCUMULATION TEST. The Minimum Death Benefit will be the amount required for this policy to be deemed "life insurance" according to the Code, but not less than 101% of the Accumulated Value.
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Examples of VALUE ACCUMULATION TEST in a sentence

  • CASH VALUE ACCUMULATION TEST If you choose the Cash Value Accumulation Test, you must choose one of two Net Single Premium Corridors (the Net Single Premium Corridor or the Enhanced Net Single Premium Corridor) in the original Application.

  • P04SA P BASIC POLICY: FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE PREMIUMS: PLANNED [ANNUAL] PREMIUM = $ 846.70 GUIDELINE SINGLE PREMIUM = 9,995.38 GUIDELINE LEVEL PREMIUM = 846.70 7-PAY PREMIUM = 1,958.12 DEATH BENEFIT QUALIFICATION TEST: GUIDELINE PREMIUM TEST [or CASH VALUE ACCUMULATION TEST] DEATH BENEFIT OPTION: A PREMIUM LOAD RATE: 6.35% ADMINISTRATIVE CHARGE: $7.50 PER MONTH TO AGE 100; $0 THEREAFTER.

  • THE FOLLOWING APPLIES IF THE TAX TEST ELECTED FOR FEDERAL INCOME TAX PURPOSES IS "CASH VALUE ACCUMULATION TEST", AS SHOWN IN SECTION 1.

Related to VALUE ACCUMULATION TEST

  • Return Accumulation Period means the period from (and including) a Periodic Distribution Date (or, in the case of the first Return Accumulation Period, the Issue Date) to (but excluding) the next (or, in the case of the first Return Accumulation Period, the first) Periodic Distribution Date;

  • Controlled Accumulation Period Factor means, for each Monthly Period, a fraction, the numerator of which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without duplication) of (a) the Series Invested Amount as of the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series 2022-2) that are not expected to be in their revolving periods, and (c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal Sharing Series and are in their revolving periods.

  • Controlled Accumulation Amount means, for any Distribution Date with respect to the Controlled Accumulation Period, $86,904,833.34; provided, however, that, if the Controlled Accumulation Period Length is determined to be less than 12 months, the Controlled Accumulation Amount for each Distribution Date with respect to the Controlled Accumulation Period will be equal to (i) the product of (x) the sum of the Class A Initial Invested Amount and the Class B Initial Invested Amount and (y) the Controlled Accumulation Period Factor for the related Monthly Period divided by (ii) the Required Accumulation Factor Number.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Deficit Controlled Accumulation Amount means (a) on the first Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such Distribution Date and (b) on each subsequent Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the Principal Funding Account on such subsequent Distribution Date.