Bailout Rate definition

Bailout Rate. A specific rate, shown in Section 1.06, that applies to the Bailout Provision. If the Index Rate Cap for a Risk Control Account is set below the Bailout Rate, you may withdraw the Risk Control Account Value from that Risk Control Account during the 30-day period following the Contract Anniversary.
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Examples of Bailout Rate in a sentence

  • If the Index Rate Cap for a Risk Control Account is set below the Bailout Rate for that Risk Control Account, you may transfer the Risk Control Account Value from that Risk Control Account during the 30-day period following the Risk Control Account Anniversary by Authorized Request.

  • At any time while the Index Rate Cap for a Risk Control Account is less than the Bailout Rate shown in Section 1.04, we may at our own discretion restrict transfers into that Risk Control Account.

  • At any time, the Index Rate Cap for the Risk Control Account is less than the Bailout Rate, we may, at our discretion, restrict allocations into that Risk Control Account and may not reallocate the Contract Value to that Risk Control Account through automatic rebalancing.

  • If the Index Rate Cap for a Risk Control Account is set below the Bailout Rate for that Risk Control Account, you may withdraw the Contract Value from that Risk Control Account during the 30-day period following the Contract Anniversary by Authorized Request.

  • If the Index Rate Cap for a Risk Control Account is set below the Bailout Rate, you may transfer the Risk Control Account Value from that Risk Control Account during the 30-day period following the Risk Control Account Anniversary, as described in Section 7.05.

  • At any time while the Index Rate Cap for a Risk Control Account is less than the Bailout Rate shown in Section 1.06, we may at our own discretion restrict allocations into that Risk Control Account.

  • During the Surrender Charge period, if the Renewal Interest Rate is less than the Bailout Rate, Surrender Charges are waived for partial and full surrenders requested within 30 days after the Contract Anniversary in which the Renewal Interest Rate falls below the Bailout Rate.