THE FIXED ACCOUNT Sample Clauses
The Fixed Account clause establishes a specific account within a contract or financial arrangement where funds are held at a predetermined interest rate or under fixed terms. Typically, this clause outlines how contributions are deposited into the account, the applicable interest rate, and any restrictions on withdrawals or transfers. By defining these parameters, the clause provides predictability and stability for both parties, ensuring that the funds are managed according to agreed-upon terms and reducing uncertainty regarding returns or access to the money.
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THE FIXED ACCOUNT. 1. The Fixed Account will be a liability against The Standard’s general account.
2. We will establish an Investment Cell for you each calendar quarter. A Maturity Date will be established for each Cell prior to the beginning of such calendar quarter. The Maturity Date will be the fifth (5th) anniversary of the first day of the quarter in which the Cell is established. The amount credited to the Investment Cell for such quarter will be the sum of the credits, which are:
(a) deposits credited to the Fixed Account during the calendar quarter pursuant to Article III of the Contract;
(b) transfers from any other Investment Option under this Contract at your direction and made during the calendar quarter;
(c) any prior Fixed Account cell maturing on the last day of this quarter;
(d) interest credited on each transaction listed above from the date the Deposit or transfer is made to the last day of the calendar quarter at the applicable placement rate in accordance with subsection 3. below; and
(e) interest credited on the last day of the calendar quarter on each previously established Fixed Account Investment Cell; less the sum of the debits, which are:
(a) any Contractowner Withdrawals and/or transfers from the Fixed Account made during the calendar quarter;
(b) benefit payments, annuity premiums, Fees and other disbursements charged to the Fixed Account during the calendar quarter; and
(c) interest on any withdrawal, transfer, benefit payment, Fee, premium, or other disbursement described above from the date it occurs to the last day of the calendar quarter at the applicable placement rate in accordance with subsection 3. below. If credits exceed debits, then once established on the last day of the calendar quarter, the amount in the Investment Cell will remain constant until the Maturity Date except in the event of:
(a) termination, or
(b) reduction in accordance with the following provision. If debits exceed credits, then prior Investment Cells will be reduced in order according to Maturity Date starting with the earliest Maturity Date until such excess is eliminated.
3. At or prior to the beginning of each month, we will determine an interest rate (“Placement Rate”) for that month. That Placement Rate shall apply to all transactions in that calendar month through the end of the calendar quarter. The equivalent effective annual interest rate will no be less than the minimum allowed by state law. At the end of the calendar quarter, a Cell Rate shall be determi...
THE FIXED ACCOUNT. The Fixed Account holds the Fixed Sub-accounts for each Guaranteed Period. LNL reserves the right to discontinue accepting new allocations or transfers to any of the available Guaranteed Periods at any time. LNL may also add one or more new Guaranteed Periods at any time.
THE FIXED ACCOUNT. The Fixed Account The Fixed Account is a segmented fund within the general account of the Company. If you choose the Fixed Account, the first date on which money is applied to the Fixed Account for the Policy is the latest of: . 45 days after Part I of the Application for the initial Face Amount is signed; . 10 days after the Company mails the separate Notice of Withdrawal Right for the initial Face Amount; and . The effective date of the choice of the Fixed Account. Before this date, the value of the portion of the net premium and any net Unscheduled Payment allocated to the Fixed Account will depend on the net investment performance of the Money Market sub-account of the Variable Account. After this date each net premium allocated to the Fixed Account and each net unscheduled payment allocated to the Fixed Account will be applied as of the date it is received by the Company at its Administrative Office. Each transfer to the Fixed Account will be applied as of the transfer date.
THE FIXED ACCOUNT. The Fixed Account The Fixed Account is a segmented fund within the general account of the Company. The initial premium is allocated to the Account and the Fixed Account based on allocation instructions in the Application for insurance. The portion of the initial premium allocated to the Fixed Account is first invested in the Fixed Account as of the latest of: . The Policy Date; . The date of the last Part II of the Application, if any is required; . The effective date of the choice of the Fixed Account; and . The date the first premium is received by the Company. Thereafter, each net premium allocated to the Fixed Account and each net unscheduled payment allocated to the Fixed Account will be applied as of the date it is received by the Company at its Administrative Office. Each transfer to the Fixed Account will be applied as of the transfer date. Fixed Account Interest The rate of interest for each amount applied to the Fixed Account: will be the rate set by the Company in advance for the date the amount is applied to the Fixed Account; and will not be less than a rate equivalent to an annual effective rate of 4%. The effective interest rate used on the Policy will be the weighted average of all such rates for the Policy. Each year, on the policy anniversary, the Company will determine a portion, if any, of the Policy's portion of the Fixed Account which will be reinvested at the rate effective on that date. Interest will be credited to the Fixed Account on a daily basis. Restriction of New Amounts Applied to the Fixed Account The Company reserves the right to restrict new amounts applied to the Fixed Account if the rate of interest that would be used for the new amount is a rate equivalent to an annual effective rate of 4%. Transfers Out of the Fixed Account You can transfer a limited amount of the Policy's portion of the Fixed Account to the sub-accounts once within 30 days before each policy anniversary. The transfer will be limited to the greater of: 25% of the Policy's portion of the Fixed Account; and the amount of the Policy's portion of the Fixed Account transferred to the sub-accounts the prior year. Requests for transfers can be made in writing or by telephone. The Company is not responsible for determining the authenticity of transfer instructions received by telephone. Choice of the Fixed Account You can choose to have net premiums and net unscheduled payments applied to the Fixed Account. You can change the choice for future net premiums and...
THE FIXED ACCOUNT. 19 TRANSFERS......................................................... 21
THE FIXED ACCOUNT. Net premiums allocated to and transfers to the Fixed Account under the policy become part of the general account assets of Ameritas Variable Life Insurance Company which support annuity and insurance obligations. The Fixed Account includes all of Ameritas Variable Life Insurance Company's assets, except those assets segregated in separate accounts. Ameritas Variable Life Insurance Company maintains the sole discretion to invest the assets of the Fixed Account, subject to applicable law. You determine, using percentages, how the net premium will be allocated to the Fixed Account. You may choose to allocate nothing to the Fixed Account. You may not choose a fractional percent. The allocations to the Fixed Account along with allocations to the Subaccounts must total 100%.
THE FIXED ACCOUNT. Fixed Interest Options are not available with the presence of this Rider. Purchase Payments or transfers directed to the Fixed Interest Options will not be accepted.
THE FIXED ACCOUNT. 10 6.1 The Fixed Account..............................................10 6.2 Transfers Among the Fixed Account and the Subaccounts............................................10 SECTION 7. VALUES ..........................................................11
7.1 How Accumulation Value of the Policy is Determined....................................11 7.2 Accumulation Value of the Subaccounts..........................11 7.3 Net Asset Value................................................11 7.4
THE FIXED ACCOUNT. If You allocate any premium payments to the Fixed Account, the Fixed Account will earn interest at no less than a 3% annual effective rate. We , in Our sole discretion, may credit interest rates greater than 3%. We will determine the value of the Fixed Account daily by crediting interest to the Fixed Account. THE SUB-ACCOUNTS The available Sub-Accounts and their underlying investments are listed in the Certificate Specifications. You may allocate premium payments to one or more Sub-Accounts. Any premium payment allocated to a Sub-Account is applied to provide for a number of Accumulation Units with respect to that Sub-Account.
THE FIXED ACCOUNT. If the Certificate Owner allocates any premium payments to the Fixed Account, the Fixed Account will earn interest at no less than a 3% annual effective rate. The Company, in its sole discretion, may credit interest rates greater than 3%. The Company will determine the value of the Fixed Account daily by crediting interest to the