Commuted Value Sample Clauses

Commuted Value. The present value of an amount discounted at a rate of interest equal to the Current Rate of Interest plus 2%.

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Commuted Value. The present value of the remaining guaranteed Annuity Payments for any option with a Period Certain segment. To calculate the present value for fixed Annuity payments, We will use the same interest rate that was used to determine the amount of the Annuity payments. To calculate the present value of variable Annuity payments, We will use the AIR elected by the Contract Owner when this Annuity option was selected and the Annuity Unit value as of the date that We receive a fully completed request for surrender and, in the event of the Annuitant's death, Due Proof of Death of the Annuitant.

Commuted Value. This equals the present value of remaining Annuity Payments that are converted into a lump sum. The Commuted Value may be available under certain Annuity Options as specified on the Contract Schedule, for withdrawals, if applicable, and as provided in the Death Provisions. The Commuted Value is calculated using the Commuted Value Formula shown on the Contract Schedule.

Commuted Value. The Commuted Value of the remaining Period Certain Annuity Payments is calculated using the Commuted Value Formula specified on the Contract Schedule. All Commuted Values will be determined upon Our receipt of a Written Request. Upon receipt of such Written Request, We will provide You with a notice of the amount payable, how the amount was determined and the impact on remaining Annuity Payments, if applicable. Once a withdrawal is made, the remaining Period Certain Annuity Payments will be reduced proportionally. Withdrawals will not affect Annuity Payments that are to be made after the Period Certain is over, if any. SURRENDER CHARGE. A Surrender Charge will be assessed against the amount of the Commuted Value withdrawn.

Commuted Value. The commuted (discounted) value is a one-sum amount paid in lieu of a series of payments. The Commuted Value of a series of payments of Annuity Units is computed in accordance with the Rules of the Fund, in which it is referred to as the Present Value.

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Commuted Value. 6 Contract ......................................... 22-23 Contract Year .................................... 7

Commuted Value. The present value of any annuity payout due and payable during guaranteed Annuity Payments. This amount is calculated using the applicable discount rate determined by us for applicable fixed dollar amount Annuity Payments.