Interim Value. For each Shield Option, the value we assign on any Business Day prior to the Term End Date. During the Transfer Period, the Interim Value of each Shield Option is equal to the Investment Amount at the Term End Date in that Shield Option. After the Transfer Period, the Interim Value of that Shield Option is equal to the Investment Amount at the Term Start Date in that Shield Option, adjusted for the Index Performance of the associated Index and subject to the applicable Accrued Shield Rate, Accrued Cap Rate or Accrued Step Rate. The Interim Value is the amount that is available for annuitization, death benefits, withdrawals and Surrenders. Investment Amount. The Investment Amount, for any Shield Option, is the amount that is allocated to the Shield Option at the Term Start Date, reduced proportionately for any withdrawals (including any applicable Withdrawal Charge) at the time of such withdrawals by the same percentage that the withdrawal reduces the Interim Value attributable to that Shield Option, and then, at Term End Date, adjusted by the Performance Rate. The remaining Investment Amount after a withdrawal will be used as the new Investment Amount for the Term until the Term End Date or the next Interim Value calculation for that Shield Option.
Interim Value. The “Interim Value” at any time is equal to the sum of the Segment Interim Values. RIA I (05/19) Page 7 RIA I (05/19) Xxxxxx Xxxxxxx and Life Company Exhibit 4.1 Segment Value The “Segment Value” of a Segment Option at any time is determined based on the provisions of the applicable Strategy Endorsement.
Interim Value. The Interim Value is the Indexed Account Value on any Business Day during an Interest Term except the first and last Business Days of the Interest Term.
Interim Value. The Interim Value is the value of the Indexed Account on any Business Day during the Interest Term except the first day and the last day of the Interest Term. We calculate the Interim Value at the end of each Business Day. The Interim Value may change each Business Day and this change may be either positive or negative. The Interim Value calculation is not directly based on the value of the Index. The Interim Value is the amount available in the Indexed Accounts for partial or full withdrawals, annuitization, and Death Benefit. The Interim Value is calculated by determining the value of a specific set of hypothetical derivatives. The value is determined by an option pricing formula. Our Interim Value calculation methodology is on file with the insurance supervisory official in the jurisdiction in which this Contract is issued. The method in which we calculate the Interim Value for an Indexed Account with a Crediting Method that includes an Indexed Interest Buffer differs from the method in which we calculate the Interim Value for an Indexed Account with a Crediting Method that includes an Indexed Interest Floor. WITHDRAWALS WITHDRAWALS At or prior to the commencement of the Income Phase, you may withdraw all or part of your Contract Value by sending a request to our Home Office. A withdrawal may have a Surrender Charge. If you withdraw all of your Contract Value, all benefits under the Contract will terminate. If you withdraw part of your Contract Value the withdrawal will be deducted pro-rata from the Fixed Account and the Indexed Account(s) unless you tell us otherwise. WITHDRAWAL RESTRICTIONS Each withdrawal must be at least $500. If any withdrawal would reduce the Contract Value to less than $2,000, the remaining balance will also be withdrawn and the Contract will be terminated. CHARGES AND TAXES The following charges may apply to your Contract: SURRENDER CHARGE A Surrender Charge may be assessed on withdrawals from your Contract Value. The charge is a percentage of the amount of the Contract Value withdrawn. The Surrender Charge schedule is shown on your Contract data page.
Interim Value. See attached.
