VALUATION PROVISIONS. Net Premium Payments The net premium payment is equal to the premium payment, minus any applicable Premium Taxes We may deduct, and is applied to purchase Accumulation Units with respect to the Sub-Account(s) that You have selected. The number of Accumulation Units credited to each Sub-Account is determined by dividing the net premium payment allocated to a Sub-Account by the dollar value of one Accumulation Unit for such Sub-Account. This is computed in compliance with Securities and Exchange Commission regulations. The number of Accumulation Units will not be affected by any subsequent change in the value of such Accumulation Units. The Accumulation Unit value in any Sub-Account may increase or decrease from day to day as described below. Net Investment Factor The net investment factor for each of the Sub-Accounts is equal to:
VALUATION PROVISIONS. NET PREMIUM PAYMENTS The net premium payment is equal to the premium payment minus any applicable Premium Taxes We may deduct. The net premium payment is applied to purchase Fixed Account values or Sub-Account Accumulation Units with respect to the Sub-Account(s) that You have selected. The number of Accumulation Units credited to each Sub-Account is determined by dividing the Net Premium payment allocated to a Sub-Account by the dollar value of one Accumulation Unit for such Sub-Account. This is computed in compliance with Securities and Exchange Commission regulations. The number of Accumulation Units will not be affected by any subsequent change in the value of such Accumulation Units. The Accumulation Unit value in any Sub-Account may increase or decrease from day to day as described below. We will determine the value of the Fixed Account(s) by crediting interest to amounts allocated to the Fixed Account(s). The Minimum Fixed Account Interest Rate is the rate shown on Page 3, compounded annually. At Our discretion, We may credit interest rates greater than the Minimum Fixed Account Interest Rate. We may change the rate or rates credited in accordance with applicable law. NET INVESTMENT FACTOR The net investment factor for each of the Sub-Accounts is equal to: a) the Net Asset Value Per Share of the corresponding Fund at the end of the Valuation Period (plus the per share amount of any unpaid dividends or capital gains by that Fund); divided by b) the Net Asset Value Per Share of the corresponding Fund at the beginning of the Valuation Period; minus c) the mortality and expense risk charge and any applicable administration charge, shown on Page 3 adjusted for the number of days in the Valuation Period; minus d) the Optional Death Benefit Charge, if applicable, shown on Page 3, adjusted for the number of days in the Valuation Period. The Fixed Account net investment factor is guaranteed to be at least equal to the Minimum Fixed Account Interest Rate shown on Page 3. ACCUMULATION UNIT VALUE The value of an Accumulation Unit for each Sub-Account of the Separate Account will vary to reflect the investment experience of the applicable Funds. It will be determined by multiplying: a) the value of the Accumulation Unit for that Sub-Account as of the preceding Valuation Day by b) the Net Investment Factor for that Sub-Account for the Valuation Day for which the Accumulation Unit value is being calculated. The value of the Sub-Account as of each Valuation Day is ...
VALUATION PROVISIONS. CONTRACT VALUE The contract value for any valuation period equals the sum of the fixed accumulation account value as of the end of the valuation period and the variable accumulation account value for the valuation period. FIXED ACCUMULATION ACCOUNT Prior to the annuity payout date, the fixed accumulation account value will be
VALUATION PROVISIONS. (a) Net Contributions The net contribution to the Contract is equal to the total Contributions made to the Contract less any applicable Premium Taxes. The net contribution for the General Account or Separate Account (determined in accordance with the account allocation percentages elected) is applied to provide General Account values or Separate Account Accumulation Units. The number of Accumulation Units credited to each variable account is determined by dividing the net contribution for that account by the dollar value of one Accumulation Unit next computed after the receipt of the contribution by the Company. The number of Accumulation Units so determined will not be affected by any subsequent change in the value of Accumulation Units. The Accumulation Unit value in the Separate Account may decrease or increase from day to day as specified below. Notwithstanding anything to the contrary herein, Method Two for Valuation of Sub-Account Assets will not be applicable to this Contract. Method One for Valuation of Sub-Account Assets
VALUATION PROVISIONS. CONTRACT VALUE The Contract Value for any Valuation Period equals the Variable Accumulation Account value for the Valuation Period. VARIABLE ACCUMULATION ACCOUNT We will credit this contract's Variable Accumulation Account with variable accumulation units in relation to the amount of each Net Purchase Payment allocated to each Subaccount. To find the number of variable accumulation units credited to each Subaccount, divide the amount allocated to that Subaccount by the variable accumulation unit value of that Subaccount for the Valuation Period during which the purchase payment is received at our Home Office or at any other location we may designate from time to time. -------------------------------------------------------------------------------- FORM 06-VA-4 THE OHIO NATIONAL LIFE INSURANCE COMPANY PAGE 10 The value of each variable accumulation unit was set when the first Net Purchase Payment was allocated to each Subaccount. The value of a variable accumulation unit for each Subaccount varies for each later Valuation Period. Such value is found by multiplying the value of a variable accumulation unit of that Subaccount for the immediately preceding Valuation Period by the Net Investment Factor for the Subaccount for the Valuation Period for which the variable accumulation unit value is being determined. The value of a variable accumulation unit for any Valuation Period is determined as of the end of such Valuation Period. The Variable Accumulation Account value for a Valuation Period equals the number of variable accumulation units credited to the Variable Accumulation Account multiplied by the value of each such unit for that Valuation Period.
VALUATION PROVISIONS. NET CONTRIBUTIONS -- The net contribution to the contract on behalf of a Participant is equal to the total contributions made on behalf of that Participant less any applicable premium taxes. The net contribution for the Fixed Account or Separate Account(s) (determined in accordance with the account allocation percentages elected) is applied to provide Fixed Account values or XXXXXX XXXX LIFE INSURANCE COMPANY [LOGO] Separate Account accumulation units. The number of accumulation units credited to a Separate Account is determined by dividing the net contribution for that account by the dollar value of one accumulation unit next computed after the receipt of the contribution by the Company. Distributed earnings with respect to the underlying fund(s) will be credited to the Contract Owner by increasing the value of units of interest held under this contract, not by increasing the number of accumulation units held under this contract. The number of accumulation units so determined will not be affected by any subsequent change in the value of accumulation units. The accumulation unit value in a Separate Account may decrease or increase from day to day as specified below. NET INVESTMENT RATE AND NET INVESTMENT FACTOR -- The Fixed Account net investment rate applicable to this contract for any day is guaranteed to be at least the rate shown under the contract specifications section of this contract. The net investment rate for each subaccount in each of the Separate Account(s) for any day is equal to the gross investment rate for such subaccount expressed in decimal form to at least six decimal places, less applicable deductions by the Company for mortality and expense, income option, and administrative undertakings are shown on the Contract Specifications page of the contract. The gross investment rate for a subaccount is
VALUATION PROVISIONS a) Set out the rules for valuation of assets which clearly and unambiguously define the expected method of valuation
VALUATION PROVISIONS. (a) Adjusted Gross Investment Rate: The Adjusted Gross Investment Rate for any Valuation Period is equal to the investment income for the Valuation Period, plus realized and unrealized capital gains or losses for the Valuation Period divided by the investable assets at the beginning of the Valuation Period.
VALUATION PROVISIONS. SEPARATE ACCOUNTS SEPARATE ACCOUNTS Separate Accounts Twenty-Six and Twenty-Seven are segregated investment accounts created by us under New York Law to receive and hold purchase payments for this Contract. We own the assets of the Separate Accounts and such assets are held, for the Separate Accounts, separately from the assets held in the General Account, other segregated asset accounts of Security Equity Life Insurance Company ("Security Equity"), and from each other. The income, if any, gains and losses, realized or unrealized, on each Separate Account and each Division therein will be credited to or charged against the amounts allocated to such Separate Account and Division without regard to other income, gains or losses to Security Equity. That portion of the assets of each Separate Account equal to the reserves and other contract liabilities with respect to such Separate Account will not be chargeable with liabilities arising out of any other business that Security Equity may conduct. We have the right to transfer to our General Account assets in excess of the amount equal to reserves and other liabilities of a Separate Account.
VALUATION PROVISIONS. Net Premium Payments - The Net Premium payment is applied to purchase Accumulation Units with respect to the Sub-Account(s) that You have selected. The number of Accumulation Units credited to each Sub-Account is determined by dividing the Net Premium payment allocated to a Sub-Account by the dollar value of one Accumulation Unit for such Sub-Account. This is computed in compliance with Securities and Exchange Commission regulations. The number of Accumulation Units will not be affected by any subsequent change in the value of such Accumulation Units. The Accumulation Unit value in any Sub-Account may increase or decrease from day to day as described below. Net Investment Factor The net investment factor for each of the Sub-Accounts is equal to:
