ANNUITY UNIT. The number of Annuity Units per Fund is based on the amount of the first variable Annuity payment which is equal to: (a) The portion of the Certificate Holder's Account Value (minus any premium taxes) applied to pay a variable Annuity; divided by, (b) 1000; multiplied by, (c) The payment rate for the Annuity Option chosen. Such amount, or portion, of the variable Annuity payment will be divided by the Annuity Unit value for the appropriate Fund on the tenth Valuation Period before the due date of the first payment to determine the number of each Fund's Annuity Units. The number of each Fund's Annuity Unit remains fixed. Each future payment is equal to the sum of the products of each Fund's Annuity Unit value multiplied by the appropriate number of units. The Fund's Annuity Unit value on the tenth Valuation Period prior to the due date of the payment is used.
Appears in 3 contracts
Sources: Group Annuity Coverage Certificate (Variable Annuity Account I of Aetna Insurance Co of America), Group Variable, Fixed or Combination Annuity Contract (Variable Annuity Account I of Aetna Insurance Co of America), Group Annuity Coverage Certificate (Variable Annuity Account I of Aetna Insurance Co of America)
ANNUITY UNIT. The number of Annuity Units per Fund is based on the amount of the first variable Annuity payment which is equal to:
(a) The portion of the Certificate Holder's Account Value (minus any premium taxes) applied to pay a variable Annuity; divided by, ,
(b) 1000; multiplied by, ,
(c) The payment rate for the Annuity Option chosen. Such amount, or portion, of the variable Annuity payment will be divided by the Annuity Unit value for the appropriate Fund on the tenth Valuation Period before the due date of the first payment to determine the number of each Fund's Annuity Units. The number of each Fund's Annuity Unit remains fixed. Each future payment is equal to the sum of the products of each Fund's Annuity Unit value multiplied by the appropriate number of units. The Fund's Annuity Unit value on the tenth Valuation Period prior to the due date of the payment is used.
Appears in 3 contracts
Sources: Group Annuity Contract (Variable Annuity Account B of Aetna Life Ins & Annuity Co), Group Annuity Certificate (Variable Annuity Account B of Aetna Life Ins & Annuity Co), Group Variable, Fixed or Combination Annuity Contract (Variable Annuity Account B of Aetna Life Ins & Annuity Co)
ANNUITY UNIT. The number of Annuity Units per Fund is based on the amount of the first variable Annuity payment which is equal to:
(a) The portion of the Certificate Holder's Account Contract Value (minus any premium taxes) applied to pay a variable Annuity; divided by, ,
(b) 1000; multiplied by, ,
(c) The payment rate for the Annuity Option chosen. Such amount, or portion, of the variable Annuity payment will be divided by the Annuity Unit value for the appropriate Fund on the tenth Valuation Period before the due date of the first payment to determine the number of each Fund's Annuity Units. The number of each Fund's Annuity Unit remains fixed. Each future payment is equal to the sum of the products of each Fund's Annuity Unit value multiplied by the appropriate number of units. The Fund's Annuity Unit value on the tenth Valuation Period prior to the due date of the payment is used.
Appears in 2 contracts
Sources: Individual Variable, Fixed or Combination Annuity Contract (VOYA RETIREMENT INSURANCE & ANNUITY Co), Annuity Contract (Variable Annuity Account B of Aetna Life Ins & Annuity Co)
ANNUITY UNIT. The number of Annuity Units per Fund is based on the amount of the first variable Annuity payment which is equal to:
(a) The portion of the Certificate Holder's Account Value (minus any premium taxes) applied to pay a variable Annuity; divided by, ,
(b) 1000; multiplied by, (c) The payment rate for the Annuity Option chosen. Such amount, or portion, of the variable Annuity payment will be divided by the Annuity Unit value for the appropriate Fund on the tenth Valuation Period before the due date of the first payment to determine the number of each Fund's Annuity Units. The number of each Fund's Annuity Unit remains fixed. Each future payment is equal to the sum of the products of each Fund's Annuity Unit value multiplied by the appropriate number of units. The Fund's Annuity Unit value on the tenth Valuation Period prior to the due date of the payment is used.
Appears in 1 contract
Sources: Group Annuity Contract (Variable Annuity Account I of Aetna Insurance Co of America)
ANNUITY UNIT. The number of Annuity Units per Fund is based on the amount of the first variable Annuity payment which is equal to:
(a) The portion of the Certificate Holder's Account Contract Value (minus any premium taxes) applied to pay a variable Annuity; divided by, (b) 1000; multiplied by, (c) The payment rate for the Annuity Option chosen. Such amount, or portion, of the variable Annuity payment will be divided by the Annuity Unit value for the appropriate Fund on the tenth Valuation Period before the due date of the first payment to determine the number of each Fund's Annuity Units. The number of each Fund's Annuity Unit remains fixed. Each future payment is equal to the sum of the products of each Fund's Annuity Unit value multiplied by the appropriate number of units. The Fund's Annuity Unit value on the tenth Valuation Period prior to the due date of the payment is used.
Appears in 1 contract