Variable Account Contract Value Sample Clauses

Variable Account Contract Value. The Variable Account Contract Value is the total of the values of your interest in each Sub-Account, which for each Sub-Account is equal to: 1. The number of Accumulation Units;

Variable Account Contract Value. Retirement Date The date shown under Contract Data on which annuity payments are to begin. This date may be changed as provided in this contract. You will be notified prior to the retirement date in order to select an appropriate annuity payment plan. Settlement The application of the contract value of this contract to provide annuity payments. Valuation Date A valuation date is each day the New York Stock Exchange is open for trading. Valuation Period A valuation period is the interval of time commencing at the close of business on each valuation date and ending at the close of business on the next valuation date.

Variable Account Contract Value. The Variable Account Contract Value is the total of the values of your interest in each Sub-Account. Each Sub-Account is equal to: 1. The number of Accumulation Units; 2. Multiplied by the Accumulation Unit value. The Variable Account Contract Value will vary from Valuation Date to Valuation Date.

Variable Account Contract Value. The Variable Account Contract Value is the sum of the value of all Variable Account Accumulation Units under this Contract. If: (1) part or all of the Variable Account Contract Value is surrendered; or (2) charges or deductions are made against the Variable Account Contract Value; then, an appropriate number of Accumulation Units will be canceled or surrendered to equal such amount. The Variable Account is a separate investment account of the Company. It is named on the Data Page. The Company has allocated a part of its assets for this Contract and certain other contracts to the Variable Account. Such assets of the Variable Account remain the property of the Company. However, they may not be charged with the liabilities from any other business in which the Company may take part.

Variable Account Contract Value. Retirement Date The date shown under Contract Data on which annuity payments are to begin. This date may be changed as provided in this contract. You will be notified prior to the retirement date in order to select an appropriate annuity payment plan. Settlement The application of the contract value of this contract to provide annuity payments. Valuation Date A valuation date is each day the New York Stock Exchange is open for trading. Valuation Period A valuation period is the interval of time commencing at the close of business on each valuation date and ending at the close of business on the next valuation date. PAGE 6 Fixed Account The fixed account is made up of all our assets other than those in any separate account. Variable Account The variable account is a separate investment account of ours. It consists of several subaccounts. Each subaccount is named under Contract Data. Fixed Annuity A fixed annuity is an annuity with payments which are guaranteed by us as to dollar amount during the annuity payment period. Variable Annuity A variable annuity is an annuity with payments which are not predetermined or guaranteed as to dollar amount and vary in amount with the investment experience of one or more of the variable subaccounts. Written Request A request in writing signed by you and delivered to us at our administrative office. Code The Internal Revenue Code of 1986, as amended, and all related laws and regulations which are in effect during the term of this contract.

Variable Account Contract Value. The Variable Account Contract Value is the sum of the value of all Variable Account Accumulation Units under this Contract. If: (1) part or all of the Variable Account Contract Value is surrendered; or (2) charges or deductions are made against the Variable Account Contract Value; then, an appropriate number of Accumulation Units will be canceled or surrendered to equal such amount. The Variable Account is a separate investment account of the Company. It is named on the Data Page. The Company has allocated a part of its assets for this Contract and certain other contracts to the Variable Account. Such assets of the Variable Account remain the property of the Company. However, they may not be changed with the liabilities from any other business in which the company may take part. The purchase payments applied to the Variable Account will be invested at net asset value in one or more of the mutual funds shown on the Data Page. Mutual fund shares in the Variable Account will be valued at their net asset value. The number of Accumulation Units for each Sub-Account of the Variable Account is found by dividing: (1) the net amount allocated to the Sub-Account; by (2) the Accumulation Unit Value for the Sub-Account for the Valuation Period during which the Company received the purchase payment.