Common use of SEGMENT INTERIM VALUE Clause in Contracts

SEGMENT INTERIM VALUE. The Segment Interim Value for any Floor Segment Option on the initial Segment Start Date is the amount transferred from the Initial Holding Account allocated to that Segment Option. The Segment Interim Value for the Floor Segment Option after the initial Segment Start Date is comprised by the previous day’s Segment Interim Value, the Segment Credits, the Equity Adjustment, and any funds transferred into or out of the Segment Option reduced by any partial Surrender. The Segment Interim Value may be reduced by any premium taxes as provided for in the Premium Taxes section of Your contract. The Nonforfeiture Interest Rate is not applicable to the Floor Segment Option.

SEGMENT INTERIM VALUE. The Segment Interim Value for any Floor Buffer Segment Option on the initial Segment Start Date is the amount transferred from the Initial Holding Account allocated to that Segment Option. The Segment Interim Value for the Floor Buffer Segment Option after the initial Segment Start Date is comprised by the previous day’s Segment Interim Value, the Segment Credits, the Equity Adjustment, and any funds transferred into or out of the Segment Option reduced by any partial SurrenderSurrenders. The Segment Interim Value may be reduced by any premium taxes as provided for in the Premium Taxes section of Your contract. The Nonforfeiture Interest Rate is not applicable to the Floor Buffer Segment Option.