ANNUITY VALUE Sample Clauses
The Annuity Value clause defines how the value of an annuity is determined for the purposes of a contract or agreement. Typically, this clause outlines the method for calculating the present or future value of a series of periodic payments, specifying factors such as interest rates, payment frequency, and duration. For example, it may state that the annuity value is based on actuarial tables or a specific discount rate. The core function of this clause is to ensure both parties have a clear, agreed-upon method for valuing annuity payments, thereby reducing disputes and providing financial certainty.
ANNUITY VALUE. The value as described in the Annuity Value section of the Contract Value Provisions.
ANNUITY VALUE. At the end of any Valuation Period, the Annuity Value is equal to the sum of the Account values. PARTIAL WITHDRAWAL. Prior to the Maturity Date, a partial withdrawal may be made by the Owner without surrender of this Contract. Unless we otherwise consent:
ANNUITY VALUE. The amount which will be applied to an Annuity Option on the Annuity Date. It is the Contract Value on the Annuity Date reduced by any charges for premium taxes and any other charges deducted on the Annuity Date.
ANNUITY VALUE. The annuity value of a participant's account is the amount that can be applied to any annuity income option under this contract. It is the sum of the values of any accumulation units, reduced by premium, sales or similar taxes, if any.
ANNUITY VALUE. The Annuity Value to be applied under an Annuity Option will be the amount described below, less any premium taxes payable by the Company as a result of the Annuity Option selection:
(a) If Option V is chosen at any time - the Surrender Value.
(b) If Option I, II, III, IV-A, IV-B, or any other Option offered by the Company involving a life contingency is chosen - the Accumulated Value.
(c) If a death benefit annuity is payable at any time - the Accumulated Value. The amount applied under an Annuity Option will be based on the IRA Account Accumulated Value on a Valuation Date not more than four weeks (uniformly applied) preceding the Annuity Date.
ANNUITY VALUE. The Annuity Value will be the Accumulated Value, after application of any applicable Market Value Adjustment less any applicable premium tax. For a Death Benefit annuity, the Annuity Value will be the amount of the Death Benefit, less any applicable premium tax. The Annuity Value applied under a variable Annuity Option is based on the Accumulation Unit Value on a Valuation Date not more than four weeks, uniformly applied, before the Annuity Date. The amount of the first annuity benefit payment under all available options except period certain options will depend on the age and/or sex of the Annuitant on the Annuity Date and the Annuity Value applied. Period certain options are based only on the duration of payments and the Annuity Value.
ANNUITY VALUE. Contract Value at the time of annuitization.