Minimum Guaranteed Rate definition
Examples of Minimum Guaranteed Rate in a sentence
The Initial Interest Rate may not be less than the Minimum Guaranteed Rate as shown on the Contract Data Page.
The Current Interest Rate will not be less than the Minimum Guaranteed Rate as shown on the Contract Data Page.
No Guaranteed Rate will ever be less than the Minimum Guaranteed Rate shown on Contract Schedule I.
Also, the Company may in its sole judgment credit Current Interest at a rate in excess of the Minimum Guaranteed Rate.
The Company may in its discretion pay Current Interest on the General Account at a rate that exceeds the Minimum Guaranteed Rate shown on page 3.
GV6023E (1-98) -10- BP 6023F1 -------------------------------------------------------------------------------- CONTRACT VALUE AND EXPENSE PROVISIONS (Continued) -------------------------------------------------------------------------------- GENERAL ACCOUNT INTEREST CREDITING The Company shall credit interest on General Account Contract Value at an annual rate at least equal to the Minimum Guaranteed Rate shown on page 3.
However, the changed Minimum Guaranteed Rate will only apply to Contributions and allocations to and transfers to the Guaranteed Interest Option, as described in the Sections “Contributions, Allocations” and “Transfer Requests” respectively, made on or after the date such change is effective.
The Company manages the general account and guarantees that it will credit interest on General Account Contract Value at an annual rate at least equal to the Minimum Guaranteed Rate.
The term "Guaranteed Interest Rate" means, with respect to the Guaranteed Interest Division, the effective annual rate of interest determined by Equitable for a Class of Employers for a calendar year, provided such rate is not less than the Minimum Guaranteed Rate.
The Renewal Interest Rate may not be less than the Minimum Guaranteed Rate as shown on the Certificate Data Page.