Segment Guaranteed Interest definition

Segment Guaranteed Interest. We credit interest on a daily basis to each Segment from the Segment Date to Segment Maturity, using a 365-day year, at an annual rate equal to the Segment Guaranteed Interest Rate shown in the Policy Specifications. The amount of such interest is called the Segment Guaranteed Interest.
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Examples of Segment Guaranteed Interest in a sentence

  • Growth Cap – This is the maximum total interest rate for a Segment over the Segment Term, including both the Cumulative Segment Guaranteed Interest Rate and the Segment Indexed Interest Rate.

  • As a result, the Segment Guaranteed Interest Rate of 1.00% is effectively reduced by the Monthly Indexed Account Charge Rate of 0.025%.

  • The Segment Indexed Interest Rate reflects any growth in the Index multiplied by the Participation Rate, subject to the Growth Cap, that exceeds the Cumulative Segment Guaranteed Interest Rate.

  • The Cumulative Segment Guaranteed Interest Rate is the Segment Guaranteed Interest Rate compounded annually for the number of years of the Segment Term.

  • At any later date, the Segment Value is equal to: • The Segment Value as of the prior day; • Plus the Segment Guaranteed Interest since the prior day; • Minus any Segment Deductions since the prior day; • Plus, at Segment Maturity only, any Segment Indexed Interest credited.

  • For each Segment, the deduction is taken first from the Segment Monthly Balance, then from the Segment Guaranteed Interest.

  • At any later date, the Segment Value is equal to: · The Segment Value as of the prior day; · Plus the Segment Guaranteed Interest since the prior day; · Minus any Segment Deductions since the prior day; · Plus, at Segment Maturity only, any Segment Indexed Interest credited.

  • However, if the Segment Maturity Value consists only of the Segment Guaranteed Interest and the Segment Indexed Interest, we will transfer such value into the Fixed Account.

  • The amount of such interest is called the Segment Guaranteed Interest.

  • Service seniority for part-time employees shall be prorated on the basis of one year's service seniority for every two thousand and eighty (2080) hours completed.