Common use of Variable Account Contract Value Clause in Contracts

Variable Account Contract Value. Retirement Date The date shown under Contract Data on which annuity payments are to begin. This date may be changed as provided in this contract. You will be notified prior to the retirement date in order to select an appropriate annuity payment plan. Settlement The application of the contract value of this contract to provide annuity payments. Valuation Date A valuation date is each day the New York Stock Exchange is open for trading. Valuation Period A valuation period is the interval of time commencing at the close of business on each valuation date and ending at the close of business on the next valuation date.