MINIMUM SURRENDER VALUE. The Minimum Surrender Value for the Fixed Account for a given contract year will be determined by: crediting an effective annual rate of interest of 3.0% on the sum of the values of the Fixed Account Subaccounts at the end of each Valuation Period during the Contract Year at a daily rate adjusted for the number of days in each Valuation Period; less the applicable withdrawal charge(s), any prior withdrawals or transfers out of the Fixed Account, and premium taxes (if any).
Appears in 2 contracts
Sources: Variable Annuity Contract (Lincoln New York Account N for Variable Annuities), Variable Annuity Contract (Lincoln New York Account N for Variable Annuities)