Common use of Special Funds Clause in Contracts

Special Funds. The allocation of Accumulation Value to the Fixed Account, the Guaranteed Interest Divisions and Divisions of the Separate Account may be subject to specific limitations or rules when calculating the Death Benefits provided in each of the Benefit Option Packages described below. Collectively, such allocations are called Special Funds. Special Funds, if any, are shown in each Certificate Schedule. We may add newly available Divisions as Special Funds. We may also reclassify an existing Division as a Special Fund or remove such designation upon 30 days notice to the Certificate Owner. Such reclassifications will apply to amounts transferred or otherwise allocated to such Division after the date of the change. We may reduce any applicable Mortality and Expense Risk Charge for that portion of the Certificate allocated to a Special Fund. DESCRIPTION OF BENEFIT OPTION PACKAGE I Benefit Option Package I is not available if, at the time of election, the Certificate's Accumulation Value is less than $5,000 ($1,500 for Qualified Plans).

Appears in 1 contract

Samples: Entire Contract (VOYA INSURANCE & ANNUITY Co)

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Special Funds. The allocation of Accumulation Value to the Fixed Account, the Guaranteed Interest Divisions and Divisions of the Separate Account may be subject to specific limitations or rules when calculating the Death Benefits provided in each of the Benefit Option Packages described below. Collectively, such allocations are called Special Funds. Special Funds, if any, are shown in each Certificate Schedulethe Certificate. We may add newly available Divisions as Special Funds. We may also reclassify an existing Division as a Special Fund or remove such designation upon 30 days notice to the Certificate Owner. Such reclassifications will apply to amounts transferred or otherwise allocated to such Division after the date of date of the change. We may reduce any applicable Mortality and Expense Risk Charge for that portion of the Certificate allocated to a Special Fund. DESCRIPTION OF BENEFIT OPTION PACKAGE I Benefit Option Package I is not available if, at the time of election, the Certificate's Accumulation Value is less than $5,000 15,000 ($1,500 for Qualified Plans).

Appears in 1 contract

Samples: Entire Contract (VOYA INSURANCE & ANNUITY Co)

Special Funds. The allocation of Accumulation Value to the Fixed Account, the Guaranteed Interest Divisions and Divisions of the Separate Account may be subject to specific limitations or rules when calculating the Death Benefits provided in each of the Benefit Option Packages described below. Collectively, such allocations are called Special Funds. Special Funds, if any, are shown in each Certificate the Schedule. We may add newly available Divisions as Special Funds. We may also reclassify an existing Division as a Special Fund or remove such designation upon 30 days notice to the Certificate Owneryou. Such reclassifications will apply to amounts transferred or otherwise allocated to such Division after the date of date of the change. We may reduce any applicable Mortality and Expense Risk Charge for that portion of the Certificate Contract allocated to a Special Fund. DESCRIPTION OF BENEFIT OPTION PACKAGE I Benefit Option Package I is not available if, at the time of election, the CertificateContract's Accumulation Value is less than $5,000 15,000 ($1,500 for Qualified Plans).

Appears in 1 contract

Samples: Your Contract (VOYA INSURANCE & ANNUITY Co)

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Special Funds. The allocation of Accumulation Value to the Fixed Account, the Guaranteed Interest Divisions and Divisions of the Separate Account may be subject to specific limitations or rules when calculating the Death Benefits provided in each of the Benefit Option Packages described below. Collectively, such allocations are called Special Funds. Special Funds, if any, are shown in each Certificate the Schedule. We may add newly available Divisions as Special Funds. We may also reclassify an existing Division as a Special Fund or remove such designation upon 30 days notice to the Certificate Owneryou. Such reclassifications will apply to amounts transferred or otherwise allocated to such Division after the date of the change. We may reduce any applicable Mortality and Expense Risk Charge for that portion of the Certificate Contract allocated to a Special Fund. DESCRIPTION OF BENEFIT OPTION PACKAGE I Benefit Option Package I is not available if, at the time of election, the CertificateContract's Accumulation Value is less than $5,000 ($1,500 for Qualified Plans).

Appears in 1 contract

Samples: Your Contract (VOYA INSURANCE & ANNUITY Co)

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