GMDB TYPE definition

GMDB TYPE means any one of the Guaranteed Minimum Death Benefits specified in the VARIABLE ANNUITY CONTRACTS and described in Schedule A-1.
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GMDB TYPE means any benefit type listed in Schedule B and payable under a Contract Form reinsured hereunder. "Investment Fund Option" or "Fund" means any Investment Fund Option available under a Contract Form as listed in Schedule C. "Maximum Account Value" or "MAV" means any of the values identified in Schedule B and used in the calculations describing the GMDB Type.
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GMDB TYPE means one of the Guaranteed Minimum Death Benefits specified in Schedule A, applicable to ANNUITY CONTRACTs. ACCOUNT VALUE means for each ACTIVE CONTRACT, the sum of the invested assets in the investment funds shown in Schedule B-2. INSURED LIFE means the annuitant of each ANNUITY CONTRACT. Ohio National — ACE Tempest Re GMDB 2006 Treaty 3
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Examples of GMDB TYPE in a sentence

  • THE GMDB TYPE, WHICH SHALL BE REFERRED TO THROUGHOUT THIS AGREEMENT AS GMDB TYPE 1 IS DESCRIBED IN SCHEDULE B.

  • MONTHLY REINSURANCE PREMIUM RATE means the numerical value provided in Schedule D, for each CONTRACT TYPE and GMDB TYPE.

  • The Annual Ratchet GMDB TYPE, which is described in Schedule A-1, is not covered by this agreement on ANNUITY CONTRACTS issued after December 31, 2005.

  • TO THE EXTENT THAT, DUE TO THE ISSUANCE OF ADDITIONAL DEATH BENEFIT RIDER FORMS NOT LISTED IN SCHEDULE A ON A COVERED CONTRACT, THE ACTUAL GMDB LIABILITY EXCEEDS THE LIABILITY FOR GMDB TYPE 1, SUCH EXCESS SHALL NOT BE COVERED UNDER THIS AGREEMENT.

  • GMDB TYPE 4 (MAV FOR "2003 GENERATION" CONTRACT FORMS -- ISSUE AGES: 0-75) MN HL-VAMAV703MN LA-VAMAV703MN HL-VAPLUSMAV703MN LA-VAPLUSMAV703MN NY HL-VAMAV03NY HL-VAPLUSMAV03NY WA HL-VAMAV03WA LA-VAMAV03WA HL-VAPLUSMAV03WA LA-VAPLUSMAV03WA GMDB TYPE 5 (MAV ON "CURRENT" CONTRACT FORMS -- ISSUE AGES: 0-75) Death benefit is defined as part of underlying contract form.

  • The Annual REINSURANCE PREMIUM RATE is as follows: For ANNUITY CONTRACTS issued on or before August 31, 2003 and having GMDB TYPE as described in Schedule A-1, the Annual REINSURANCE PREMIUM RATE is equal to 23 basis points (0.0023).

  • For ANNUITY CONTRACTS issued after August 31, 2003 but before January 1, 2006 and having GMDB TYPE as described in Schedule A-1, the Annual REINSURANCE PREMIUM RATE is equal to 43 basis points (0.0043).

  • The Annual Ratchet GMDB TYPE, which is described in Schedule A-l, is not covered by this agreement on ANNUITY CONTRACTS issued after December 31, 2005.

  • GMDB TYPE 6 (MODIFIED MAV ON "2003 GENERATION" CONTRACT FORMS -- MAV TO AGE 70, APB THEREAFTER-ISSUE AGES: 0-70) HL-VAMAV703 LA-VAMAV703 HL-VAPLUSMAV703 LA-VAPLUSMAV703 HL-VALPB03-1 LA-VALPB03-1 HL-V▇▇▇▇▇▇▇▇▇▇-▇ ▇▇-▇▇▇▇▇▇▇▇▇03-1 SCHEDULE B LISTING AND DESCRIPTIONS OF GMDB TYPES GMDB TYPE 1 (EPB/MAV ON "CURRENT" CONTRACT FORMS) GMDB Type 1 coverage applies to "Current" contract forms (as described in Schedule A) in which contractholders have elected an optional Earnings Protection Benefit rider.

  • Note: GMDB TYPE 1 is only available on the Spinnaker Variable Annuity and the Spinnaker Choice Variable Annuity contracts.


More Definitions of GMDB TYPE

GMDB TYPE means any one of the Guaranteed Minimum Death Benefits specified in the VARIABLE ANNUITY CONTRACT and described in Schedule A. RETAIL ANNUITY PREMIUMS, after June 30,2000, means contributions made in accordance with the provisions of any VARIABLE ANNUITY CONTRACT by or on behalf of the contract owner, whether referred to as purchase payments, premiums, deposits, or otherwise. For business in force on June 30, 2000, RETAIL ANNUITY PREMIUMS as of that date means the ACCOUNT VALUE on June 30, 2000.
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GMDB TYPE means any benefit type listed in Schedule B and payable under a Contract Form reinsured hereunder.
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