Fixed Account Value definition
Fixed Account Value is the sum of the value of each Fixed Sub-Account on any particular day. A "FIXED SUB-ACCOUNT" is established when purchase payments are invested or amounts are transferred to the Fixed Account. The value of each Fixed Sub-Account is equal to the amount invested, increased by interest and reduced by any withdrawals or transfers from, or charges assessed against the Fixed Sub-Account.
Examples of Fixed Account Value in a sentence
See the Contract Option Provisions for details of how the Fixed Account Value and Index Account Value are determined.
The Contract Value is equal to the sum of the Fixed Account Value and the Index Account Value.
On each Contract Anniversary, any Fixed Account Value in the Short Duration Fixed Account Option will be automatically transferred out of the Short Duration Fixed Account Option.
Any portion of the Withdrawal Charge that would reduce the Fixed Account Value below the FAMV will be waived.
The sum of the Variable Account Value and the Fixed Account Value (including the loan account value).
More Definitions of Fixed Account Value
Fixed Account Value. The value of all Fixed Account amounts accumulated under a Certificate prior to the Income Date.
Fixed Account Value. The value of all Fixed Account amounts accumulated under this Contract prior to the Income Date.
Fixed Account Value for an Annuity, the accumulation value in any Fixed ------------------- Account allocated to such Annuity.