Common use of ACCUMULATED VALUE Clause in Contracts

ACCUMULATED VALUE. On or before the Annuity Date, the Accumulated Value of this contract is equal to the sum of the accumulated values for this contract in subaccounts of the Variable Account, in Fixed Period Allocations and in the Fixed Account. The accumulated value in any subaccount on a Valuation Day is equal to: The number of accumulation units for this contract in that subaccount (see Section 5.5); multiplied by The accumulation unit value for that subaccount (see Section 9.2). The accumulated value for any day that is not a Valuation Day will be determined on the next Valuation Day. The accumulated value in any Fixed Period Allocation (see Section 10.2) on any day is the sum of: The amount allocated or transferred to that Fixed Period Allocation; and Interest credited on that allocation; Less The amount of any Partial Surrenders made from that allocation; and Accumulated value transferred from that allocation to a subaccount or to the Fixed Account. The accumulated value in the Fixed Account (see Section 10.1) on any day is the sum of: Amounts allocated or transferred to the Fixed Account; and Interest credited to the Fixed Account. Less The amount of any Partial Surrenders made from the Fixed Account; and Accumulated value transferred from the Fixed Account to a subaccount or a Fixed Period Allocation.

ACCUMULATED VALUE. On or before the Annuity Contract Date, the Accumulated Value of this contract is equal to the Net Premium(s) received less the Monthly Deduction(s) made on that date. On any later date, the Accumulated Value is the sum of the accumulated values for this contract in the subaccounts of the Variable Account, in the Fixed Period Allocations Accounts, and in the Fixed Loan Account. The accumulated value in any subaccount on a Valuation Day is equal to: : 1) The number of accumulation units for this contract in that subaccount (see Section 5.512.3); multiplied by by 2) The accumulation unit value for that subaccount (see Section 9.212.2). The accumulated value in either of the Fixed Accounts (see Section 13) on a Valuation Day is the sum of: 1) Amounts allocated or transferred to that fixed account; and 2) Interest credited to that fixed account; Less the sum of: 3) The portion of any Monthly Deductions made from that fixed account; 4) The amount of any Partial Surrenders made from that fixed account; 5) Any Decrease Charges applied to that fixed account that are not the result of a Partial Surrender; 6) Accumulated value transferred from that fixed account to a subaccount or to the Loan Account; and 7) The portion of any Transfer Charges deducted from that fixed account. The accumulated value in the Loan Account (see Section 11.3) on any day is the sum of: 1) Accumulated value transferred from any subaccount or either of the Fixed Accounts to the Loan Account as a result of new loans or interest accrued on existing loans; and 2) Interest credited to the Loan Account; Less: 3) Accumulated value transferred from the Loan Account to any subaccount or to either of the Fixed Accounts as a result of repayment of Debt. The Accumulated Value for any day that is not a Valuation Day will be determined on the next Valuation Day. The accumulated value in any Fixed Period Allocation (see Section 10.2) on any day is the sum of: The amount allocated or transferred to that Fixed Period Allocation; and Interest credited on that allocation; Less The amount of any Partial Surrenders made from that allocation; and Accumulated value transferred from that allocation to a subaccount or to the Fixed Account. The accumulated value in the Fixed Account (see Section 10.1) on any day is the sum of: Amounts allocated or transferred to the Fixed Account; and Interest credited to the Fixed Account. Less The amount of any Partial Surrenders made from the Fixed Account; and Accumulated value transferred from the Fixed Account to a subaccount or a Fixed Period Allocation.