DESCRIPTION OF CERTAIN TERMS USED IN THIS CONTRACT Sample Clauses

DESCRIPTION OF CERTAIN TERMS USED IN THIS CONTRACT a. ACCUMULATION UNIT- A measuring unit used to determine the value of a participant's interest in a series at any time before annuity payments commence.
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DESCRIPTION OF CERTAIN TERMS USED IN THIS CONTRACT. ANNUITANT -- The person who is to receive annuity payments. ANNUITY -- A series of income payments made to the annuitant for a defined period of time. ANNUITY DATE -- The date annuity payments begin under this contract. ANNUITY UNIT -- A measuring unit used to determine the amount of variable annuity payments based on a separate account series under this contract after such payments have commenced. BENEFICIARY -- Except as otherwise provided in Section 4.02, the person named on the application who has the right to receive settlement on the death of the owner. CONTRACT YEAR -- A twelve month period starting on the date this contract is issued and on each anniversary. FIXED ANNUITY -- An annuity providing guaranteed level payments. FUND -- Any registered management investment company or series thereof (mutual fund) specified in the contract in which the assets of the separate account may be invested. GENERAL ACCOUNT -- Assets of the Company except those in the separate account or segregated asset accounts. NORMAL ANNUITY DATE -- The first day of the month coincident with or next following the anniversary of the contract date nearest the annuitant's 100th birthday, or the 10th anniversary, if later. OWNER -- The person who has submitted the completed application to the Company with a purchase payment and to whom this contract was issued. PAYEE -- The annuitant or beneficiary receiving payment of benefits under this contract. PURCHASE PAYMENT -- Any amount received by the Company for the owner. SEPARATE ACCOUNT -- The Security First Life Separate Account A was established by the Company under the Delaware Insurance Code. The income or losses of the separate account are free from any other liabilities of the Company. The separate account is registered as a unit investment trust under the Investment Company Act of 1940.
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DESCRIPTION OF CERTAIN TERMS USED IN THIS CONTRACT. ANNUITANT - The person who is to receive annuity payments and who is identified as the participant. ANNUITY - A series of income payments made to the annuitant for a defined period of time. ANNUITY DATE - The date the series of income payments begins under the certificate. BENEFICIARY - The person named on the enrollment form who has the right to receive settlement on the death of the participant. CERTIFICATE - The form given to each participant that describes his or her rights in the group contract.
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Related to DESCRIPTION OF CERTAIN TERMS USED IN THIS CONTRACT

  • Definition of Certain Terms Used Herein As used herein, the following terms shall have the following meanings:

  • Definition of Certain Terms For purposes of this Agreement, (a) “business day” means any day on which the New York Stock Exchange, Inc. is open for trading and (b) “subsidiary” has the meaning set forth in Rule 405 of the Rules and Regulations.

  • Construction of Certain Terms and Phrases Unless the context of this Agreement otherwise requires, (a) words of any gender include the other gender; (b) words using the singular or plural number also include the plural or singular number, respectively; (c) the terms “hereof,” “herein,” “hereunder,” “hereby” and derivative or similar words refer to this entire Agreement; (d) the terms “include,” “includes,” and “including” shall be deemed to be followed by the words “but not limited to;” (e) the term “

  • Definitions of Certain Terms Used Herein As used in this Security Agreement, in addition to the terms defined in the Preliminary Statement, the following terms shall have the following meanings:

  • Construction of certain terms In this Agreement: