Common use of ACCUMULATION VALUE Clause in Contracts

ACCUMULATION VALUE. The Accumulation Value of each Guaranteed Account is the sum of the amounts applied to it, plus credited interest, less fees and any amounts withdrawn or transferred from that Account. Interest begins to accrue on the effective date of the Purchase Payment or transfer (see Section 4.6). There may be Class A and Class B Guaranteed Accounts. Interest will be credited at an annual effective interest rate of not less than the minimum guaranteed annual effective interest rate stated on page 4. Higher rates for each Guaranteed Account may be declared by the Company from time to time for Guaranteed Periods set by the Company. The declared rate for a Class A Guaranteed Account will always equal or exceed the declared rate for the corresponding Class B Guaranteed Account for the same Guaranteed Period.

ACCUMULATION VALUE. The Accumulation Value of each Guaranteed Account is the sum of the amounts applied to it, plus credited interest, less fees and any amounts withdrawn or transferred from that Account. Interest begins to accrue on the effective date of the Purchase Payment or transfer (see Section 4.6). There may be Class A and Class B Guaranteed Accounts. Interest will be credited at an annual effective interest rate of not less than the minimum guaranteed annual effective interest rate stated on page Page 4. Higher rates for each Guaranteed Account may be declared by the Company from time to time for Guaranteed Periods set by the Company. The declared rate for a Class A Guaranteed Account will always equal or exceed the declared rate for the corresponding Class B Guaranteed Account for the same Guaranteed Period.