CONTRACT VALUE The Contract Value definition
CONTRACT VALUE The Contract Value for any Business Day is equal to the total dollar value accumulated in the investment choices under this contract excluding amounts applied to Annuity Payments. CONTRACT YEAR A period of 12 consecutive months. The first Contract Year begins on the Issue Date, and subsequent Contract Years begin on the Contract Anniversary. All Contract Years end on the day before the next Contract Anniversary. FULL ANNUITIZATON The application of all of the Adjusted Contract Value to Annuity Payments according to the Annuity Options in this contract and/or any attached endorsements or riders. GENERAL ACCOUNT Our general investment account which contains all the assets of the Company with the exception of the Variable Account and other separate accounts. INCOME DATE A date that Annuity Payments begin. The date Annuity Payments are scheduled to begin is shown on the Contract Schedule. INVESTMENT OPTIONS The investment choices available under the Variable Account. The Investment Options are shown on the Contract Schedule. ISSUE DATE The first day of this contract. It is also the date when the first Contract Year begins. The Issue Date is shown on the Contract Schedule and determines the Contract Anniversaries, and the beginning of each Contract Year. JOINT ANNUITANT You can add a Joint Annuitant for the Annuity Phase by providing an Authorized Request. If we allow Joint Annuitants, we will base Annuity Payments on the lives of both Joint Annuitants. We are not liable for any actions taken by us before we receive the Authorized Request. JOINT OWNER A contract may be owned by Joint Owners. Joint Owners have equal contract ownership rights. Both Joint Owners must authorize the exercise of these rights in writing unless otherwise allowed by us. If Joint Owners are named, all references to Owner shall mean Joint Owners. There can only be two Joint Owners. NET ASSET VALUE The value of a share of an underlying Investment Option, less any investment management and portfolio administration fees and expenses, as of the close of trading on a Business Day.