Loan Account Value definition

Loan Account Value. The Policy Value in the Loan Account.

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Loan Account Value is the amount of all loans under this Contract that have not been repaid, adjusted for interest we credit to the Loan Account at the Loan Credited Rate and for any due and unpaid loan interest we charge at the Loan Interest Rate. The Loan Interest Rate is shown in the Schedule.

Loan Account Value. For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: · interest; plus · Contract Value loaned on that day; and decreased by any: · loan principal repaid; plus · earned interest transferred from the Loan Account on that day. Administrative Fee — We charge an administrative fee against the assets held in the Variable Investment Option(s). This fee is assessed daily at the annual rate which is shown in the Contract Specifications. This fee is guaranteed not to increase.

Examples of Loan Account Value in a sentence

As of the end of any Business Day, the Contract Value is equal to the sum of the Variable Account Value plus any Loan Account Value.
Transfers — You may, on or before the Annuity Date and subject to the requirements, limitations and restrictions described in this section, transfer all or part of the Contract Value, less any Loan Account Value, in any Investment Option among other Investment Options, while the Annuitant is living and the Contract is in force.
Loan Account Value — The amount, including any interest accrued, held in the Loan Account to secure any Contract Debt.
Contract Value — The Contract Value on any Business Day is the sum of: • the Variable Account Value; plus • the Loan Account Value.
For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: • interest; plus • Contract Value loaned on that day; and decreased by any: • loan principal repaid; plus • earned interest transferred from the Loan Account on that day.
Loan Account Value – The amount, including any interest accrued, held in the Loan Account to secure any Contract Debt.
The Loan Account Value is a portion of the Accumulated Value set aside to secure the Policy Debt.
Transfers – You may, on or before the Annuity Date and subject to the requirements, limitations and restrictions described in this section, transfer all or part of the Contract Value, less any Loan Account Value, in any Investment Option among other Investment Options, while the Annuitant is living and the Contract is in force.
The Loan Account Value is equal to the Loan Account plus Loan Interest Credit.
Contract Value — The Contract Value on any Business Day is the sum of: · the Variable Account Value; plus · the Loan Account Value.

More Definitions of Loan Account Value

Loan Account Value. The value of the Loan Account credited to the Owner under the Policy Value Account.

Loan Account Value. The Loan Account Value is a portion of the Accumulated Value set aside to secure the Policy Debt. The Loan Account Value is equal to the Loan Account plus Loan Interest. Such interest is based on the balance in the Loan Account, and accrues daily on a compounded interest basis, using the Loan Account Interest rate, which is an annual interest rate not less than 2.50%.

Loan Account Value. Unless the Owner takes a loan, the Loan Account Value is zero. (Amounts the Owner takes as a loan are sometimes referred to in the Certificate as amounts the Owner "borrows".) If the Owner takes a loan, then on the effective date of the loan the Loan Account Value is equal to the amount of the loan. On each subsequent Valuation Date, it is equal to (a) + (b) + (c) - (d) - (e), where:

Loan Account Value. The Policy Value in the Loan Account. Monthly Anniversary Day: The same day of the month as the Policy Effective Date. The Monthly Anniversary Day is shown on the Policy Schedule. Net Asset Value Per Share: The value per share of any Fund as computed on any Valuation Day as described in the Fund prospectus.

Loan Account Value. The Policy Value in the Loan Account. Policy Month: The period of time that elapses between any two Monthly Anniversaries.