Indexed Account definition

Indexed Account. An account for which We calculate values depending on increases in an Index.

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Indexed Account. An account that is part of our General Account. We credit interest on the Indexed Account Value, in part, based on any positive change in an Index. Indexed Accounts may also be referred to as Indexed Fixed Options. See Investment Options for additional information. In Force – When this Policy is In Force, the Policy is in effect and provides a Death Benefit upon the death of the Insured. See When this Policy is In Force for additional information.

Indexed Account is an account that is part of our General Account. We credit interest on an Indexed Account, in part, based on any positive change in an Index. Indexed Fixed Options – an Investment Option consisting of one or more Indexed Accounts available under this Policy, and is part of the General Account. The Indexed Accounts available as of the Policy Date are shown in the Policy Specifications. In Force – means a Policy is in effect and provides a Death Benefit on the Insured. Insured – is the person insured under this Policy, as shown in the Policy Specifications. Investment Options – consist of the Variable Options, the Fixed Options, the Indexed Fixed Options, and any additional investment options that we may add. You may allocate your Accumulated Value, net of any Policy Debt, among the Variable, Fixed and Indexed Fixed Options. Each of these Investment Options is subdivided into various Accounts. We reserve the right to add additional Investment Options, or to terminate one or more of the Investment Options at any time. ICC19 P19VUL Page [6] Monthly Deduction End Date – is shown in the Monthly Deduction Factors section of the Policy Specifications and is the date when Monthly Deductions will cease to modify the Accumulated Value. Monthly Payment Date – is the same day 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 the difference between the Death Benefit and the Accumulated Value. Net Premium – is the premium we receive reduced by any applicable Premium Load. Owner, you, or your – refers to the Owner(s) of this Policy, as shown in the Policy Information section of the Policy Specifications at the time of issue or, if ownership is changed after issue, in Confirmation of Change. Policy – refers to this contract, the associated Policy Specifications and any riders, endorsements, supplements, amendments and benefits attached to it. We agree to pay the benefits of this Policy according to its provisions. Policy Date – is shown in the Policy Information section of the Policy Specifications. Policy and rider months, quarters, years and anniversaries are measured from this date. Policy Debt – is the amount necessary to repay the Policy Loan in full and is equal to the Loan Account plus any accrued Loan Interest Charge. The Policy Debt reduces any amount...

Examples of Indexed Account in a sentence

If we have not been given any such instructions, the Segment Maturity Value will be reallocated to a new Segment of the same Indexed Account.
If an Indexed Account is terminated or suspended, unless you provide us with Written Instructions indicating otherwise, any Indexed Account Value held in that Indexed Account will be transferred to another Account that will be identified in the notification.
The Indexed Account Value in each Indexed Account is divided into Segments.
The Accumulated Value on each Valuation Day equals the sum of: · The Fixed Account Value; plus · The Variable Account Value; plus · The Indexed Account Value; plus · The Loan Account Value.
The Indexed Account Value is equal to the sum of the Segment Values for all Segments in the Indexed Accounts.
Account Deductions – Will reduce the Fixed Account Value, the Variable Account Value and the Indexed Account Value under the Policy, as described in Account Deduction Method.
Account Additions – Will increase the Fixed Account Value, the Variable Account Value and the Indexed Account Value under the Policy, as described in Account Addition Method.
For allocations or transfers into an Indexed Account to be effective on a given Segment Start Date, the following must be received at our Administrative Office by the Cut-Off Date shown in the Policy Specifications: · Any instructions for Net Premium or Loan Repayment to be allocated to an Indexed Account; or · Any instructions for transfers of Designated Fixed Account Value or reallocation of Segment Maturity Value to the Indexed Account(s).
You may not transfer value out of an Indexed Account before the end of the Segment Term.
If your Policy is in a Lockout Period (see Lockout Period), then no transfer to the Indexed Account can occur.

More Definitions of Indexed Account

Indexed Account. A portion of Contract Value that can be either increased or decreased by the performance of an Index. Indexed Accounts are described in Indexed Account endorsements to your Contract.