Annuitized Value definition
Annuitized Value means the value of the Director’s Accrued Benefit increased by monthly compounding using the Interest Factor and expressed as a stream of annual benefit payments.
Annuitized Value. The amount to be annuitized on the Annuity Date (the "Annuitized Value") is the Net Certificate Value on the Valuation Day on or next following the Annuity Date. An Early Withdrawal Charge will be assessed at the Annuity Date, if applicable. This charge will be waived if the Annuity Date is the latest allowed, if the Annuity Option chosen contains life contingencies, or the Annuity Option is for [5] years or more with no ability to commute the remaining payments.
Annuitized Value. The amount applied to purchase annuity payments under the contract, equal to the contract value adjusted by any market value adjustment and less any applicable taxes. "ANNUITY DATE" The date on which annuity payments are scheduled to begin.
Examples of Annuitized Value in a sentence
An annual benefit equal to 75% of Final Compensation at retirement, less 50% of the Social Security Benefit and the Single Life Annuitized Value of the Executive's account balances derived from employer provided contributions under all qualified and non-qualified defined contribution plans maintained by the Bank.
Your Annuitized Value is the amount applied to purchase Annuity Payments under the Annuity Payment Option.
If, on the Maturity Date, the Annuitized Value is less than the Minimum Annuitized Value stated in the Contract Specifications page, the Company will pay You the Annuitized Value in a lump sum.
More Definitions of Annuitized Value
Annuitized Value. The amount applied to purchase annuity payments under the contract, equal to the contract value adjusted by any market value adjustment and less any applicable taxes. "annuity date" The date on which annuity payments are scheduled to begin. "annuity unit" A unit of measurement which we use to calculate the amount of variable annuity payments.