Segment Buffer. “Segment Buffer” means the maximum percentage decline in the performance of an Index during a Segment Duration that will be absorbed under the Contract with no resulting reduction in the Segment Maturity Value for a Segment held until its Segment Maturity Date. Any percentage decline in the Segment’s Index Performance Rate multiplied by the Participation Rate that is in excess of the Segment Buffer reduces your Segment Maturity Value.
Appears in 2 contracts
Sources: Flexible Premium Deferred Variable and Index Linked Annuity Contract (Equitable Financial Life Insurance Co), Flexible Premium Deferred Variable and Index Linked Annuity Contract (Separate Acct No 49 of Axa Equitable Life Insurance Co)