Subsequent Variable Payments Sample Clauses
The "Subsequent Variable Payments" clause defines how payments that may change over time, based on certain conditions or performance metrics, are handled after the initial payment under a contract. This clause typically outlines the calculation methods, timing, and triggers for such variable payments, such as adjustments based on sales volume, market indices, or achievement of milestones. Its core function is to provide a clear framework for managing future payment obligations that are not fixed at the outset, thereby reducing disputes and ensuring both parties understand how and when additional payments may be due.
Subsequent Variable Payments. The amount of each subsequent payment from each Division under a variable payment plan will increase or decrease in accord with the increase or decrease in the value of an Annuity Unit which reflects the investment experience of that Division of the Separate Account. The amount of subsequent variable payments is the sum of payments from each Division, each determined by multiplying the fixed number of Annuity Units for the Division by the value of an Annuity Unit for the Division on: • the fifth Valuation Date prior to the payment due date if the payment due date is a Valuation Date; or • the sixth Valuation Date prior to the payment due date if the payment due date is not a Valuation Date.
Subsequent Variable Payments. The amount of each subsequent payment from each Division under a variable income plan will increase or decrease in accord with the increase or decrease in the value of an Annuity Unit which reflects the investment experience of that Division of the Separate Account. For each Division, the dollar amount of payments will increase provided the annual net investment rate for the Division is higher than the Assumed Investment Rate. The dollar amount of payments will decrease if the annual net investment rate for the Division is lower than the Assumed Investment Rate. The amount of subsequent variable payments is the sum of payments from each Division, each determined by multiplying the fixed number of Annuity Units for the Division by the value of an Annuity Unit for the Division on: • the fifth Valuation Date prior to the payment due date if the payment due date is a Valuation Date; or • the sixth Valuation Date prior to the payment due date if the payment due date is not a Valuation Date.
Subsequent Variable Payments. The amount of each subsequent variable annuity payment will be the sum of the amounts payable based on the Annuity Units in each Subaccount. To determine the amount payable for each Subaccount, we multiply the number of Annuity Units in that Subaccount by their Annuity Unit Value on the day in each payment period that corresponds to the Annuity Date.
Subsequent Variable Payments. The amount of each Subsequent Variable Annuity Payment will be the sum of the amounts payable based on the Annuity Units in each Subaccount. To determine the amount payable for each Subaccount, we multiply the number of Annuity Units in that Subaccount by their Annuity Unit Value on the day in each payment period that corresponds to the Annuity Date. The smallest gross annual rate of return needed for the dollar amount of the Variable Annuity Payments to not decrease is equal to the sum of the assumed investment return (AIR) shown in the Contract Specifications and all product fees and charges. The fees and charges would include the Mortality and Expense Risk Charge, and the Administrative Fee, as well as the fund level expenses.
Subsequent Variable Payments. The amount of subsequent payments will increase or decrease according to the value of Annuity Units which reflect the investment experience of the Divisions. The amount of subsequent variable payments is the sum of payments from each Division determined by multiplying the fixed number of Annuity Units by the value of an Annuity Unit on:
(1) the fifth valuation date prior to the payment due date if the payment due date is a valuation date; or
(2) the sixth valuation date prior to the payment due date if the payment due date is not a valuation date.
Subsequent Variable Payments. The amount of each subsequent variable annuity payment will be the sum of the amounts payable based on the Annuity Units in each Subaccount. To determine the amount payable for each Subaccount, we multiply the number of Annuity Units in that Subaccount by their Annuity Unit Value on the day in each payment period that corresponds to the Annuity Date. Annuity Unit Value — The initial Annuity Unit Value for each Subaccount was arbitrarily set at $10 on the Business Day the Subaccount began operations. At the end of each subsequent Business Day, the Annuity Unit Value for each Subaccount is equal to (A x B) x C, where:
Subsequent Variable Payments. The amount of each subsequent variable annuity payment will be the sum of the amounts payable based on the Annuity Units in each Subaccount. To determine the amount payable for each Subaccount, we multiply the number of Annuity Units in that Subaccount by their Annuity Unit Value on the day in each payment period that corresponds to the Annuity Date. The smallest gross annual rate of return needed for the dollar amount of the variable annuity payments to not decrease is equal to the sum of the assumed interest rate (AIR) of 4% and all product fees and charges. The fees and charges would include the Mortality and Expense Risk charge of 1.45% and the Administrative Fee of 0.15%. Thus, the total gross annual rate of return would need to be at least 5.60% (net of fund level expenses).