the Contract Value. In the second Contract Year or any subsequent Contract Year the Annual Step-up Amount is equal to the greater of: a. the Annual Step-up Amount at the end of the previous Contract Year, plus 100% of premium payments made since the end of the previous Contract Year, less "Adjusted Partial Withdrawals" made since the end of the previous Contract Year; or b. the Contract Value next determined following receipt of a certified copy of the death at VPMO.
Appears in 1 contract
Sources: Variable Annuity Contract (Phoenix Home Life Variable Accumulation Account)
the Contract Value. In the second Contract Year or any subsequent Contract Year the Annual Step-up Amount is equal to the greater of:
a. the Annual Step-up Amount at the end of the previous Contract Year, plus 100% of premium payments made since the end of the previous Contract Year, less "Adjusted Partial Withdrawals" made since the end of the previous Contract Year; or
b. the Contract Value next determined following receipt of a certified copy of the death at VPMO.
Appears in 1 contract
Sources: Variable Annuity Contract (PHL Variable Accumulation Account)