Fixed Accumulated Value definition

Fixed Accumulated Value. The Fixed Accumulated Value is the sum of the Accumulated Value in each Fixed Account. On the Policy Date, the value of the policy’s allocations to each Fixed Account is equal to any Net Premium allocated to each Fixed Account less any allocation of the initial Monthly Deduction to those Fixed Accounts. After the Policy Date, we calculate the Accumulated Value in each Fixed Account as follows. We credit interest on a daily basis using a 365-day year, at an annual effective rate not less than the Minimum Guaranteed Interest Rate for each Fixed Account shown in the Policy Specifications. We may credit a higher rate of interest. Each Fixed Account may have its own unique rate. While we expect to credit a higher rate of interest to the Fixed LT Account than to the Fixed Account, we do not guarantee to do so. The interest rate in effect at the beginning of the policy year will be effective for the duration of that year. The Accumulated Value for each Fixed Account on any Valuation Day is the following, including interest on each: • The Accumulated Value for each Fixed Account on the prior Monthly Payment Date; • Plus the amount of any Net Premium received and allocated to the Fixed Account, since the last Monthly Payment Date; • Plus the amount of any transfer to each Fixed Account, including transfers from the Loan Account, since the last Monthly Payment Date; • Minus the amount of any deductions from each Fixed Account since the prior day (such deductions include Monthly Deductions, deductions for any withdrawal, including any amount removed from the policy in accordance with either the Tax Qualification as Life Insurance section or the Modified Endowment Contract Tax Status section of this policy, and any fee for a withdrawal or Face Amount Increase) and • Minus the amount of any withdrawals, or transfers from each Fixed Account, including transfers to the Loan Account, since the last Monthly Payment Date. Variable Accumulated Value — The Variable Accumulated Value is the sum of the Accumulated Value in each Variable Account. We calculate the Accumulated Value in each Variable Account as follows. Assets in each Variable Account are divided into Accumulation Units, which are measures of value for bookkeeping purposes. We credit Accumulation Units to each Variable Account as a result of: • The amount of any Net Premium received and allocated to the Variable Account • Transfers to the Variable Account, including transfers from the Loan Account We debit Accumula...
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Fixed Accumulated Value. The Fixed Accumulated Value is the sum of the Accumulated Value in each Fixed Option. The Fixed Options consist of the Fixed Account and the Fixed LT Account. This subsection describes how we calculate the Accumulated Value in each Fixed Option. We credit interest on a daily basis, using a 365-day year, at a rate not less than an annual effective rate of 3%. At our discretion, we may credit a higher rate of interest. Each Fixed Option may have its own unique rate. The interest rate in effect at the beginning of the policy year will be effective for the duration of that year. The Accumulated Value for each Fixed Option on any Valuation Date is the following, including interest on each:
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Fixed Accumulated Value. The Fixed Accumulated Value is the sum of the Accumulated Value in each Fixed Option. The Fixed Options consist of the Fixed Account and the Fixed LT Account. This subsection describes how we calculate the Accumulated Value in each Fixed Option. We credit interest on a daily basis, using a 365-day year, at a rate not less than an annual effective rate of 3%. For the Fixed LT Account only and for the first 10 policy years only, we guarantee a rate of 4.5% for Accumulated Value in the Fixed LT Account equal to the Fixed LT Enhanced Guarantee Amount shown in the Policy Specifications multiplied by the current policy year. At our discretion, we may credit a higher rate of interest. The interest rate in effect at the beginning of the policy year will be effective for the duration of that year. The Accumulated Value for each Fixed Option on any Valuation Date is the following, including interest on each:
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Examples of Fixed Accumulated Value in a sentence

  • The Fixed Accumulated Value is the sum of the Accumulated Value in each Fixed Option.

  • The Fixed Accumulated Value is the sum of the Accumulated Value in each Fixed Account.

  • Any such deduction is taken proportionately from the Fixed Accumulated Value and the Variable Accumulated Value.

  • According to the Processing of Account Deductions provision, deductions in excess of the Fixed Accumulated Value and the Variable Accumulated Value will be deducted from the Segments of the Indexed Accumulated Value (see Processing of Account Deductions and Segment Deductions provisions).

  • Any deduction in excess of the Fixed Accumulated Value and Variable Accumulated Value will be deducted from the Segments of the Indexed Accumulated Value (see Segment Deductions).

  • Unless you provide otherwise, any such deduction is taken proportionately from the Fixed Accumulated Value and Variable Accumulated Value.

  • Accumulated Value — is the sum of the Fixed Accumulated Value, the Variable Accumulated Value, and the Loan Account Value (see the Accumulated Value section).

  • Accumulated Value - is defined on each Valuation Date and is the sum of the Fixed Accumulated Value plus the Variable Accumulated Value plus the Loan Account.

  • The Accumulated Value is defined on each Valuation Day and equals the sum of: • The Fixed Accumulated Value; • The Variable Accumulated Value; • The Indexed Accumulated Value; and • The Loan Account Value (see the Accumulated Value section).

  • The Accumulated Value is defined on each Valuation Day and is the sum of: • the Fixed Accumulated Value; plus • the Variable Accumulated Value; plus • the Loan Account Value.

Related to Fixed Accumulated Value

  • Controlled Accumulation Amount means, for any Distribution Date with respect to the Controlled Accumulation Period, $86,904,833.34; provided, however, that, if the Controlled Accumulation Period Length is determined to be less than 12 months, the Controlled Accumulation Amount for each Distribution Date with respect to the Controlled Accumulation Period will be equal to (i) the product of (x) the sum of the Class A Initial Invested Amount and the Class B Initial Invested Amount and (y) the Controlled Accumulation Period Factor for the related Monthly Period divided by (ii) the Required Accumulation Factor Number.

  • Required Accumulation Factor Number shall be equal to a fraction, rounded upwards to the nearest whole number, the numerator of which is one and the denominator of which is equal to the lowest monthly principal payment rate on the Accounts, expressed as a decimal, for the three months preceding the date of such calculation.

  • Controlled Accumulation Period Factor means, for each Monthly Period, a fraction, the numerator of which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without duplication) of (a) the Series Invested Amount as of the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series 2022-2) that are not expected to be in their revolving periods, and (c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal Sharing Series and are in their revolving periods.

  • Accumulation Amount means $83,333,333.34; provided, however, if the commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture Supplement.

  • Deficit Controlled Accumulation Amount means (a) on the first Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such Distribution Date and (b) on each subsequent Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the Principal Funding Account on such subsequent Distribution Date.