Common use of Interest Credited Clause in Contracts

Interest Credited. Interest is compounded annually. We may credit excess interest to the Fixed Account while the Contract is in force and before the Proceeds have been paid. Excess interest will be declared in advance and will not be changed more frequently than once during any 12-month period. In case of full or Partial Surrender or transfers out of the Fixed Account, interest will be credited on the portion of the Account Accumulation Value surrendered or transferred up to the transaction date. The Account Accumulation Value at any date within a Contract Year will be determined by us with allowance for the time elapsed in the Contract Year.

Interest Credited. Interest is compounded annually. We may credit excess interest to the Fixed Account while the Contract is in force and before the Proceeds have been paid. Excess interest will be declared in advance and will not be changed more frequently than once during any 12-month period. In case of full Full or Partial Surrender or transfers out of the Fixed Account, interest will be credited on the portion of the Account Accumulation Value surrendered or transferred up to the transaction date. The Account Accumulation Value at any date within a Contract Year will be determined by us with allowance for the time elapsed in the Contract Year.