Minimum Guaranteed Interest definition
Minimum Guaranteed Interest. RATE - The Minimum Guaranteed Interest Rate credited to the General Account is shown on the Data Page. GUARANTEE PERIOD - The initial Guarantee Period and the renewal Guarantee Period are shown on the Data Page. DEATH BENEFIT PROVISIONS DEATH OF OWNER DURING THE ACCUMULATION PERIOD - Upon death of the Owner or a Joint Owner during the Accumulation Period, the Death Benefit will be paid to the Beneficiary(ies) designated by You. Upon the death of a Joint Owner, the surviving Joint Owner, if any, will be treated as the primary Beneficiary. Any other beneficiary designation on record at the time of death will be treated as a contingent Beneficiary unless otherwise indicated by filing a written request at the Service Office. DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD - The amount of the Death Benefit is equal to the Contract Value. Other Death Benefit amounts, if any, are shown on the Data Page. The Contract Value is determined as of the end of the Business Day during which the Service Office receives both due proof of death and an election for method of payment. DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD - A Beneficiary must elect the Death Benefit to be paid under one of the options below in the event of the death of an Owner during the Accumulation Period. In addition, if the Beneficiary is the spouse of the Owner, the Beneficiary may elect to continue this Contract at the then current Contract Value in his or her own name and exercise all the Owner's rights under this Contract.
Minimum Guaranteed Interest means an amount equal to the greater of (i) $640,000.00, or (ii) interest due on any amount advanced under this agreement at the Interest Rate
Minimum Guaranteed Interest. Rate: [3.0%] (effective annual rate of return).
Examples of Minimum Guaranteed Interest in a sentence
LNY may credit interest at effective annual rates in excess of the Minimum Guaranteed Interest Rate at any time.
General Account - Fixed Annuity Payment -------------------------------------------------------------------------------- Minimum Guaranteed Interest Rate 3.0% (effective annual rate of return) See Section I - DEFINITIONS for explanations.
If a Fixed Annuity is chosen, the Annuity purchase rate for the option chosen reflects the Minimum Guaranteed Interest Rate (see Contract Schedule II), but may reflect higher interest rates.
LNY guarantees that it will credit an effective annual Minimum Guaranteed Interest Rate during all years as shown on the Contract Specifications.
The Annuity purchase rate for the option chosen reflects the Minimum Guaranteed Interest Rate (see Contract Schedule II), but may reflect a higher interest rate.
A Guaranteed Interest Rate will never be less than the effective annual Minimum Guaranteed Interest Rate shown on the Contract Specifications.
For a fixed Annuity, the interest rate will never be less than the minimum guaranteed rate shown on Contract Schedule II under Fixed Annuity Minimum Guaranteed Interest Rate.
We credit interest on a daily basis using a 365-day year, at an annual effective rate not less than the Minimum Guaranteed Interest Rate for the Fixed Options shown in the Policy Specifications.
The Fixed Account minimum guaranteed interest rate is shown on Contract Schedule I under Fixed Account Minimum Guaranteed Interest Rate.
Declared Guaranteed Interest Rates are subject to change at any time prior to application to specific Fixed Allocations, although in no event will the rates be less than the Minimum Guaranteed Interest Rate shown in the Schedule.
More Definitions of Minimum Guaranteed Interest
Minimum Guaranteed Interest. Rate: 3% Separate Account: C.M. Multi-Account A Eligible Investments, Series and Sub-Accounts: ▇▇▇▇▇▇▇▇▇▇▇ Variable Account Funds Opp Money Fund/VA Opp Money Sub-Account Opp Bond Fund/VA Opp Bond Sub-Account Opp Capital Appreciation Fund/VA Opp Capital Appreciation Sub-Account Opp Global Securities Fund/VA Opp Global Securities Sub-Account Opp Aggressive Growth Fund/VA Opp Aggressive Growth Sub-Account Opp Strategic Bond Fund/VA Opp Strategic Bond Sub-Account Opp High Income Fund/VA Opp High Income Sub-Account Opp Main Street Growth & Income Fund/VA Opp Main Street Growth & Income Sub-Account Panorama Series Fund I, Inc. Pan Total Return Portfolio Pan Total Return Sub-Account Pan Growth Portfolio Pan Growth Sub-Account Pan International Equity Portfolio Pan International Equity Sub-Account Pan LifeSpan Diversified Income Portfolio Pan LifeSpan Diversified Income Sub-Account Pan LifeSpan Balanced Portfolio Pan LifeSpan Balanced Sub-Account Pan LifeSpan Capital Appreciation Portfolio Pan LifeSpan Capital Appreciation Sub-Account MML Series Investment Fund MML Small Cap Value Equity Fund MML Small Cap Value Equity Sub-Account MML Equity Fund MML Equity Sub-Account MML Equity Index Fund MML Equity Index Sub-Account MML Blend Fund MML Blend Sub-Account MML Growth Equity Fund MML Growth Equity Sub-Account MML Small Cap Growth Equity Fund MML Small Cap Growth Equity Sub-Account ▇▇▇▇▇ ▇▇▇▇▇ Series Janus Aspen Worldwide Growth Portfolio Janus Aspen Worldwide Growth Sub-Account Janus Aspen Capital Appreciation Portfolio Janus Aspen Capital Appreciation Sub-Account ▇▇▇▇▇▇▇▇▇ Variable Products Series Fund ▇▇▇▇▇▇▇▇▇ International Fund ▇▇▇▇▇▇▇▇▇ International Sub-Account BT Insurance Funds Trust BT Small Cap Index Fund BT Small Cap Index Sub-Account Variable Insurance Products Fund Fidelity's VIP Growth Portfolio Fidelity's VIP Growth Sub-Account Variable Insurance Products Fund III Fidelity's VIP III Growth Opportunities Portfolio Fidelity's VIP III Growth Opportunities Sub-Account American Century Variable Portfolios, Inc. American Century VP Value Fund American Century VP Value Sub-Account American Century VP Income & Growth Fund American Century VP Income & Growth Sub-Account MFS Variable Insurance Trust MFS Growth With Income Series MFS Growth With Income Sub-Account Variable Insurance Products Fund II Fidelity's VIP II Contrafund Portfolio Fidelity's VIP II Contrafund Sub-Account ▇. ▇▇▇▇ Price Equity Series Inc. ▇. ▇▇▇▇ Price Mid-Cap Growth Portfolio ▇. ▇▇▇▇ Price...
Minimum Guaranteed Interest set forth in Section 1.01 (Definitions) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
Minimum Guaranteed Interest. Rate: 3.00% annually] ANNUITY SERVICE OFFICE: Cova Financial Services Life Insurance Company [P.O. Box 10366 Des Moines, Iowa 50306-0366 (▇▇▇) ▇▇▇-▇▇▇▇] ENDORSEMENTS AND RIDERS ATTACHED TO THIS CONTRACT: [Fixed Account Rider for Variable Annuity Enhanced Dollar Cost Averaging Rider Three Month Market Entry Rider Death Benefit Rider - Return of Purchase Payments Death Benefit Rider - Annual Step-up Death Benefit Rider - Greater of Annual Step-up or 5% Annual Increase Guaranteed Minimum Income Benefit Rider - [Living Benefit] Additional Death Benefit Rider - [Earnings Preservation Benefit] Waiver of Withdrawal Charge for Nursing Home or Hospital Confinement Rider Waiver of Withdrawal Charge for Terminal Illness Rider Purchase Payment Credit Rider Individual Retirement Annuity Endorsement ▇▇▇▇ Individual Retirement Annuity Endorsement Tax Sheltered Annuity Endorsement 401 Plan Endorsement Unisex Annuity Rates Rider] DEFINITIONS ACCOUNT VALUE -- The sum of your interests in the Subaccounts of the Separate Account. ACCUMULATION PERIOD -- The period prior to the Annuity Date during which you can make Purchase Payments. ANNUITANT -- The natural person(s) on whose life Annuity Payments are based. You may change the Annuitant at any time prior to the Annuity Date unless an Owner is not a natural person. Any reference to Annuitant shall also include any Joint Annuitant under an Annuity Option. The Annuitant and Owner do not have to be the same person. ANNUITY PAYMENTS -- The series of payments made to the Owner or other named payee after the Annuity Date under the Annuity Option elected. ANNUITY DATE -- The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY PERIOD -- The period starting on the Annuity Date during which Annuity Payments are payable. ANNUITY SERVICE OFFICE -- The office indicated on the Contract Schedule to which notices, requests and Purchase Payments must be sent, or as otherwise directed by Notice from us. All sums payable by us under the Contract are payable through the Annuity Service Office. ANNUITY UNIT -- A unit of measure used to calculate Variable Annuity Payments after the Annuity Date. ATTAINED AGE -- The age of any Owner or Annuitant on his/her last birthday. BENEFICIARY -- The person(s) or entity(ies) you name to receive a death benefit payable under this Contract upon the death of the Owner or a Joint Owner, or in certain, circumstances, an Annuitant. BUSINESS DAY -- Each day that the New Y...
Minimum Guaranteed Interest. Rate: 3% Separate Account: C.m. Multi-account A Eligible Investments, Series And Sub-accounts: ▇▇▇▇▇▇▇▇▇▇▇ Variable Account Funds Money Fund/VA Money Sub-Account Strategic Bond Fund/VA Strategic Bond Sub-Account Main Street Growth & Income Fund/VA Main Street Growth & Income Sub-Account High Income Fund/VA High Income Sub-Account Capital Appreciation Fund/VA Capital Appreciation Sub-Account Global Securities Fund/VA Global Securities Sub-Account Panorama Series Fund I, Inc. Total Return Portfolio Total Return Sub-Account Growth Portfolio Growth Sub-Account International Equity Portfolio International Equity Sub-Account Variable Insurance Products Fund II--Contrafund Portfolio; Contrafund Sub- Account American Century Variable Portfolios, Inc. VP Income & Growth Portfolio; Income & Growth Sub-Account ▇. ▇▇▇▇ Price Equity Series, Inc.--Mid-Cap Growth Portfolio; Mid-Cap Growth Sub-Account MML Series Investment Fund MML Small Cap Value Equity Fund Small Cap Value Equity Sub-Account MML Equity Fund Equity Sub-Account MML Blend Fund Blend Sub-Account MML Equity Index Fund Equity Index Sub-Account MML Growth Equity Fund Growth Equity Sub-Account MML Small Cap Growth Equity Fund Small Cap Growth Equity Sub-Account MML Managed Bond Fund Managed Bond Sub-Account