Contract value record definition
Contract value record means an accounting record, provided by the contract in relation to a segregated portfolio of assets, that is credited with a fixed rate of return over regular periods and that is used to measure the extent of the insurer’s obligation to the contract holder. The fixed rate of return credited to the contract value record is determined by means of a crediting rate formula or declared at the inception of the contract and is valid for the entire term of the contract.
Contract value record means an accounting record established by the contract in relation to the segregated portfolio that is credited with a fixed rate of return over regular periods. The contract value record is experience rated relative to the market value record and is used to measure the extent of the insurance company’s obligations to the contractholder with regard to the segregated portfolio.
Contract value record means an accounting record established, p rovided by the contract in relation to the segregated portfolio of assets, that is credited with a fixed rate of return over regular periods , and that is used to measure t he extent of the insurer’s obligation to the contractholder. The f ixed rate of return