Common use of Subaccount Value Clause in Contracts

Subaccount Value. The Owner's interest in a Subaccount. VALUATION DATE -- The Variable Account will be valued each day that the New York Stock Exchange is open for trading. VALUATION PERIOD -- The period beginning at the close of business of the New York Stock Exchange on each Valuation Date and ending at the close of business for the next succeeding Valuation Date. VARIABLE ACCOUNT -- A separate investment account of the Company designated on the Contract Data Page. VARIABLE ACCOUNT VALUE -- The sum of the Owner's interest in each of the Subaccounts of the Variable Account.