Fixed Accounts definition

Fixed Accounts when used in plural, may be used in lieu of “Fixed Options”. Insured — is the person insured under this policy, as shown in the Policy Specifications. Investment Options — consist of the Variable Accounts and the Fixed Accounts. We reserve the right to add additional Investment Options or to cease offering one or more of the Investment Options at any time. In such case, we will notify you of the change at your last known address. In Force — means a policy is in effect and provides a death benefit on the Insured. Monthly Deduction End Date — is shown in the Policy Specifications and is the date when Monthly Deductions end. P09MVP Monthly Payment Date — is the same day in each month as the Policy Date and is the date on which certain policy charges are deducted from the Accumulated Value. The first Monthly Payment Date is the Policy Date. Net Accumulated Value — is the Accumulated Value less any Policy Debt. Net Amount at Risk — is equal to the Death Benefit as of the most recent Monthly Payment Date divided by the Net Amount at Risk Factor shown in the Policy Specifications, reduced by the Accumulated Value. The Accumulated Value used in this calculation will be as of the beginning of the policy month before the Monthly Deduction is assessed. The Net Amount at Risk is used to calculate the Cost of Insurance Charge (see the Policy Charges section). Net Premium — is the premium we receive reduced by any Premium Load. Owner, you, or your — refers to the Owner of this policy. Policy Date — is shown in the Policy Specifications. Policy months, quarters, years and anniversaries are measured from this date. Policy Debt — is the sum of the Loan Account and accrued Loan Interest. Policy Specifications — is a section of the policy that shows information specific to your policy. Risk Class — is used in determining policy charges and is determined by us during the underwriting process. It depends on the Insured’s sex, health, tobacco use, and other factors. The Risk Class of the Insured is shown in the Policy Specifications. Risk Class may also be referred to as Risk Classification. Separate Account — is the Pacific Select Exec Separate Account, which is a Separate Account of ours that consists of subaccounts, also called Variable Accounts. Each Variable Account may invest its assets in a separate class of shares of a designated investment company or companies. Total Face Amount — is the sum of Face Amount of Basic Coverage and the Face Amounts of any rider providing c...

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Fixed Accounts when used in plural, may be used in lieu of “Fixed Options”.

Fixed Accounts the accounts under the Annuities in which amounts are --------------- allocated to and made part of the general account of Anchor.

Examples of Fixed Accounts in a sentence

Allocation of Purchase Payments Among the Variable and Fixed Accounts - Subject to limits described in the Schedule, you tell us how to allocate your purchase payment, less any applicable taxes, by notifying us of your choices.
Any transfers, deductions or surrenders from the Fixed Account(s) will be accounted for on a first in, first out basis.
The aggregate value of the Sub-Accounts and the Fixed Account(s) on any Valuation Day.
We will determine the value of the Fixed Account(s) by crediting interest to amounts allocated to the Fixed Account(s).
We reserve the right to prohibit or restrict Payments and transfers to the fixed Investment Option(s) if the effective annual rate of interest that would apply to the Payment or transfer is equal to the Minimum Guaranteed Interest Rate on Fixed Accounts, as specified on the Specifications Page.
You may allocate some or all of your Purchase Payments and may transfer some of your Contract Value to an account within the Guaranteed Account, except that transfers may not be made into the DCA Fixed Accounts.
If available, Fixed Accounts for a Guarantee Period of at least two (2) years.
The Guaranteed Account includes the Fixed Account and the DCA Fixed Accounts, which are each a part of the Company's general account.
For partial withdrawals, the charge is deducted from the remaining Contract Value and is deducted from the Sub-Accounts and Fixed Account(s) in the same proportion that the amount of withdrawal from the Sub-Account or Fixed Account(s) bears to the total of the partial withdrawal.
We reserve the right to restrict Payments, renewals and transfers to the fixed Investment Options if the effective annual rate of interest that would apply to the Payment, renewal or transfer is equal to the Minimum Guaranteed Interest Rate on Fixed Accounts, as specified on the Specifications Page.