Common use of for details Clause in Contracts

for details. Lifetime Withdrawal Eligibility Age means the age of the Annuitant shown in the Contract Schedule on or after which the Owner may begin the Lifetime Withdrawal Phase. See Section 6.2 for additional details. Lifetime Withdrawal Phase means the period under the Minimum Guaranteed Withdrawal Benefit during which the Maximum Annual Withdrawal is calculated and is available for withdrawal. The Lifetime Withdrawal Phase begins on the date of the first Withdrawal on or after the date the Annuitant reaches the Lifetime Withdrawal Eligibility Age. See Section 6.2 for additional details. Maximum Annual Withdrawal or MAW means the maximum amount available for Withdrawal from the Contract under the Minimum Guaranteed Withdrawal Benefit in any Contract Year without reducing the MGWB Base in future Contract Years. MGWB Base means the factor that is used for the sole purpose of calculating the MAW and the charge for the Minimum Guaranteed Withdrawal Benefit. The MGWB Base has no cash value that can be withdrawn in a lump sum and is not payable as a death benefit. MGWB Charge Rate means the percentage of the MGWB Base as of the last Business Day immediately prior to the date the MGWB Charge is deducted. The MGWB Charge Rate percentage is shown in the Contract Schedule. MGWB Periodic Payments mean the payments that occur after the Contract enters the Lifetime Automatic Periodic Benefit Status. Minimum Guaranteed Withdrawal Benefit or MGWB means the benefit available after the Annuitant reaches the Lifetime Withdrawal Eligibility Age that guarantees that the Annuitant (and the Annuitant’s spouse if a Joint and Survivor MGWB has been elected) will have a pre-determined amount, the MAW, available for Withdrawals from the Contract each Contract Year, even if the Accumulation Value is reduced to zero (other than by Excess Withdrawal or Surrender), as more fully described in Section 6.2 of the Contract. Minimum Guaranteed Withdrawal Benefit Charge or MGWB Charge means the charge deducted from the Accumulation Value and related to the Minimum Guaranteed Withdrawal Benefit available through the Contract. The MGWB Charge is described in Section 5.3. Net Return Factor means the value that reflects: (1) the investment experience of an Investment Portfolio in which a Sub-account invests; and (2) the charges assessed against that Sub-account during a Valuation Period.