Segment Value. The Segment Value on the Segment Date is equal to the amount transferred to the Indexed Account at such time. At any later date, the Segment Value is equal to: • The Segment Value as of the prior day • Plus the Segment Guaranteed Interest since the prior day • Minus any Segment Deductions since the prior day • Plus, at Segment Maturity only, any Segment Indexed Interest credited Segment Guaranteed Interest – We credit interest on a daily basis to each Segment from the Segment Date to Segment Maturity, using a 365-day year, at an annual rate equal to the Segment Guaranteed Interest Rate shown in the Policy Specifications. The amount of such interest is called the Segment Guaranteed Interest.
Appears in 2 contracts
Sources: Insurance Policy (Pacific Select Exec Separate Acct Pacific Life Ins), Insurance Policy (Pacific Select Exec Separate Acct Pacific Life Ins)