ACCUMULATION UNIT VALUE means the dollar value of each Accumulation Unit in a Separate Account on a given date. (If Investment Funds apply as described in Section 2.02, then the terms of this Section 2.03 apply separately to each Fund, unless otherwise stated.) Amounts allocated or transferred to a Separate Account are used to purchase Accumulation Units of that Account. Units are redeemed when amounts are deducted, transferred or withdrawn. The number of Accumulation Units in a Separate Account at any time is equal to the number of Accumulation Units purchased minus the number of Units redeemed in that Account up to that time. The number of Accumulation Units purchased or redeemed in a transaction is equal to the dollar amount of the transaction divided by the Account's Accumulation Unit Value for that Transaction Date.
ACCUMULATION UNIT VALUE. The Accumulation Unit value for each sub-account was initially arbitrarily set. Subsequent Accumulation Unit values for each sub-account are determined by multiplying the Accumulation Unit value for the immediately preceding Valuation Period by the net investment factor for the sub-account for the current period. The Accumulation Unit value may increase or decrease from Valuation Period to Valuation Period.
ACCUMULATION UNIT VALUE. The Accumulation Unit Value for each Sub-Account was set initially at $10. Subsequent Accumulation Unit Values for each Sub-Account are determined by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the Net Investment Factor for the Sub-Account for the current period.
Examples of ACCUMULATION UNIT VALUE in a sentence
The value in each Separate Account Investment Option is equal to (a) multiplied by (b) where(a) is the Accumulation Unit Value as of the end of the Valuation Period for which the value in the Separate Account Investment Option is determined and (b) is the number of Accumulation Units in the Separate Account Investment Option.
If all or a portion of initial Purchase Payments are directed to the Subaccounts, they will purchase Subaccount Accumulation Units at the Accumulation Unit Value next computed after our acceptance of the applicable application or enrollment forms, as described in “CONTRACT PURCHASE AND PARTICIPATION” in the full Contract Prospectus.
Subsequent Purchase Payments or transfers directed to the Subaccounts that we receive in Good Order by the close of business of the New York Stock Exchange (“NYSE”) (normally at 4:00 p.m. Eastern Time) will purchase Subaccount Accumulation Units at the Accumulation Unit Value computed as of the close of the NYSE on that day.
Subsequent Purchase Payments and transfers received in Good Order after the close of the NYSE will purchase Accumulation Units at the Accumulation Unit Value computed as of the close of the NYSE on the next business day.
More Definitions of ACCUMULATION UNIT VALUE
ACCUMULATION UNIT VALUE. The dollar value of an Accumulation Unit in each Sub-Account on any Valuation Date.
ACCUMULATION UNIT VALUE. The Accumulation Unit Value for each Subaccount was set initially when the Subaccount began operations. Thereafter, the Accumulation Unit Value at the end of every Valuation Day is the Accumulation Unit Value at the end of the previous Valuation Day multiplied by the Net Investment Factor, as described below. Each Subaccount Value for a Contract is determined on any day by multiplying the number of Accumulation Units attributable to the Contract in that Subaccount by the Accumulation Unit Value for that Subaccount.
ACCUMULATION UNIT VALUE. The value of an Accumulation Unit for a Subaccount of Variable Annuity Account C. Each Subaccount of Variable Annuity Account C has its own Accumulation Unit Value, which may increase or decrease daily based on the investment performance of the applicable underlying Fund in which it invests. Beneficiary (or Beneficiaries): The person designated to receive the death benefit payable under the Contract.
ACCUMULATION UNIT VALUE. The Accumulation Unit Value for each Sub-Account was arbitrarily set initially at $10. Subsequent Accumulation Unit Values for each Sub-Account are determined by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the Net Investment Factor for the Sub-Account for the current period. The Net Investment Factor for each Sub-Account is determined by dividing A by B and subtracting C where: A is (i) the net asset value per share of the Eligible Fund or Portfolio of an Eligible Fund held by the Sub-Account for the current Valuation Period; plus
ACCUMULATION UNIT VALUE. The Accumulation Unit Value for each Fund was arbitrarily set initially at $10. Subsequent Accumulation Unit Values for each Fund are determined by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the Net Investment Factor for the Fund for the current period. The Accumulation Unit value may increase or decrease from Valuation Period to Valuation Period.
ACCUMULATION UNIT VALUE. The Accumulation Unit Value for each subaccount was set at $10 when the subaccount became part of the Variable Account. Subsequent accumulation unit values for each subaccount are determined by multiplying the accumulation unit value for the immediate preceding business day by the net investment factor of the subaccount for the current business day. The accumulation unit value may increase or decrease from business day to business day.
ACCUMULATION UNIT VALUE. On the first Valuation Date selected by Us, We set all Accumulation Unit Values of each Subaccount of the Separate Account at 1.000000. The Accumulation Unit Value on any subsequent Valuation Date is determined by multiplying the Accumulation Unit Value of the Subaccount on the immediately preceding Valuation Date by the Net Investment Factor for that Subaccount for the Valuation Period just ended. ADJUSTED PREMIUM Any premium to the Guaranteed Interest Account, as adjusted to include any interest credited on and any contract charges or withdrawals deducted from such premium payment. ANNUITANT The Annuitant is the individual designated as such on the Schedule Page, or as later changed. The Annuitant shown on the Schedule Page when the contract was issued is the Primary Annuitant. Prior to the Maturity Date, the Annuitant may be changed, however, there may be tax consequences. The Annuitant is the person on whose continuation of life this contract is issued. JOINT ANNUITANT(S) A Joint Annuitant, if any, is an individual designated as such on the Schedule Page, or as later changed. The Joint Annuitant is one of the persons on whose continuation of life this contract is issued if a survivorship annuity payment option is elected. ANNUITY A series of periodic payments. ANNUITY UNIT A standard of measurement used to determine the amount of each periodic payment made under the Variable Annuity Payment Options I, J, K, M and N. The number of Annuity Units in each Subaccount with assets under the chosen option is equal to the portion of the first payment provided by that Subaccount divided by the Annuity Unit Value for that Subaccount on the first Payment Calculation Date. ANNUITY UNIT VALUE On the first Valuation Date selected by Us, We set all Annuity Unit Values in each Subaccount of the Separate Account at $1.000000. The Annuity Unit Value on any subsequent Valuation Date is equal to the Annuity Unit Value of the Subaccount on the immediately preceding Valuation Date multiplied by the Net Investment Factor for that Subaccount for the Valuation Period divided by 1.000000 plus the rate of interest for the number of days in the Valuation Period based on the Assumed Investment Rate. ASSIGNS Any person to whom You assign an interest in this contract if We have Written Notice of the assignment in accordance with the provisions stated in Part 2.