INTEREST CREDITING. The frequency of interest crediting depends on the type of account you have and is described in the addendum/disclosure that applies to such account.
INTEREST CREDITING. We may credit interest in excess of the guaranteed rate of three percent (3%). Any interest rate in effect when an amount is allocated or reallocated to the Fixed Account is guaranteed until the end of the calendar year in which it is received. After the end of that calendar year, we may change the amount of interest credited at our discretion. All amounts in the Fixed Account after the end of the calendar years referenced above, are credited with excess interest at the rates then in effect for the then current calendar year. Such rates are established at the beginning of each calendar year and are guaranteed for the entire calendar year. In setting interest rates, we consider many factors, including, but not limited to: investment yield rates, taxes, contract persistency, and other experience factors. We will credit interest to the Fixed Account Contract Value beginning on the date we receive our Purchase Payment or reallocation until it is withdrawn or otherwise reallocated. Interest will be credited and Account Contract Value using the daily interest rates.
INTEREST CREDITING. Any amounts deferred under the terms of this Agreement shall be held by the Company on behalf of the Executive and shall accrue interest at a rate equal to the interest rate for amounts deferred under, and on the same terms as those set forth in, the Plan.
INTEREST CREDITING. 1. General We may credit interest in excess of the Fixed Account Guaranteed Minimum Interest Rate shown on the Contract Data Page.
INTEREST CREDITING. We will credit the Initial Guarantee Period Interest Rate each Contract Year during the Initial Guarantee Period you have selected. We will set a Guarantee Period Interest Rate for each one year Guarantee Period after the Initial Guarantee Period ends. The Guarantee Period Interest Rate used shall be determined solely in our discretion and shall be declared by us in advance of the applicable Guarantee Period. We may set a Guarantee Period Interest Rate equal to zero percent for a Guarantee Period. Interest, if any, will be compounded daily to yield the declared Guarantee Period Interest Rate. In the case of a Withdrawal, Surrender, or the application of the Accumulation Value as described in Section 6.4 to Annuity Payments, interest, if any, will be credited on the portion of the Accumulation Value applied to the transaction up to and including the day the transaction is processed.
INTEREST CREDITING. We may credit interest in excess of the guaranteed rate of three percent (3%). Any interest rate in effect when an amount is allocated or reallocated to the Fixed Account is guaranteed until the end of the calendar year in which it is received. After the end of that calendar year, we may change the amount of interest credited at our discretion. All amounts in the Fixed Account after the end of the calendar years referenced above, are credited with excess interest at the rates then in effect for the then current calendar year. Such rates are established at the beginning of each calendar year and are guaranteed for the entire calendar year. In setting interest rates, we consider many factors, including, but not limited to: investment yield rates, taxes, contract persistency, and other experience factors. We will credit interest to the Fixed Account Contract Value beginning on the date we receive your Purchase Payment or reallocation until it is withdrawn or otherwise reallocated. Interest will be credited and compounded daily to the Fixed Account Contract Value using the daily equivalents of effective yearly interest rates. There may be more than one interest rate in effect at any time for both A and Fixed Account B. At any time while this contract is in effect, interest rates declared for Fixed Account A will not be more than the interest rates declared for Fixed Account B. We will continue to credit interest to any portion of the Fixed Account A Contract Value that is used as security for a loan from us. The interest credited to the portion of Fixed Account A Contract Value represented by the loan may be less than credited to the rest of such Fixed Amount Contract Value. Taking a loan may also affect the rate of interest credited in the future to the Fixed Account A Contract Value, either up or down. Interest credited to the loaned portion of Fixed Account A will never be less than three percent (3%).
INTEREST CREDITING. Amounts held under a Fixed Account option will be credited with interest at an annual effective rate that is at least equal to the Fixed Account Guaranteed Interest Rate. The Fixed Account Guaranteed Interest Rate is set out on the Contract Specifications page. We may from time to time pay a higher current interest rate for any of the Fixed Account options. Such higher rate would be as declared by our Board of Directors in its discretion. Once declared, such rate will be credited until changed. Interest on amounts held under a Fixed Account option is earned daily. We will stop crediting interest on an amount as of the date that it is transferred, withdrawn, surrendered, or applied to charges. We will stop crediting interest on an amount that is applied to a settlement option as of the Commencement Date. AILIC The interest rate credited to each Purchase Payment allocated to the Fixed Accumulation Account will not be changed for at least twelve (12) months following the date on which it was received. Thereafter, the interest rate credited will not be changed more frequently than once per calendar quarter. In the case of transfers from other Fixed Account options or the Sub-Accounts to the Fixed Accumulation Account Option, the interest rate will not be changed more frequently than once per calendar quarter. The interest rate credited to an amount that is held under a Fixed Account option that has a guarantee period will not be changed until the end of that period. The guarantee period is measured from the date that the amount is allocated or transferred to that option. Renewal An amount that is allocated or transferred to a Fixed Account option that has a guarantee period will mature at the end of that period. When an amount matures, a Participant may transfer it to any of the Fixed Account options or Sub-Accounts that are then available to him or her under this Contract. To do so, a Written Request must be received within the thirty (30) day period that ends on the date that the amount matures. If a Participant does not transfer the amount, then it will be applied to a new guarantee period under the same Fixed Account option if it is then available to him or her. The interest rate for the new period will be the then current rate for that option. If that option is not available, then the amount will be transferred to the Fixed Accumulation Account. Such a transfer or renewal will be effective on the day after the amount matures.
INTEREST CREDITING. Any amounts deferred for later payment pursuant to paragraph 1 above shall accrue interest at a rate equal to the prime commercial lending rate of The Chase Manhattan Bank, N.A. as in effect at the beginning of each calendar quarter of the deferral period, compounded quarterly, from the date the amount would otherwise have been made to the Executive, but for the provisions of this Agreement, until the business day prior to the date of payment of the Deferred Amounts pursuant to paragraph 3 below.
INTEREST CREDITING. On the issue date, you may allocate your premium among any combination of the available allocation options, which include the fixed account and one or more indexed options. The fixed account calculates and credits interest based on a fixed interest crediting strategy. Each indexed option calculates and credits interest based on an index-linked crediting strategy. If you do not notify us how to allocate your premium, we will allocate your entire premium to the fixed account.
INTEREST CREDITING. Amounts held under the Fixed Account will be credited with interest at an annual effective rate that is at least equal to the Fixed Account Guaranteed Interest Rate. The Fixed Account Guaranteed Interest Rate is set out on the Contract Specifications page. We may from time to time pay a higher current interest rate for amounts held under the Fixed Account. Such higher rate would be as declared by the Company in its discretion. Once declared, such rate will be credited until changed. Interest on amounts held under the Fixed Account is earned daily. We will stop crediting interest on an amount as of the date that it is transferred, withdrawn, surrendered, or applied to charges. We will stop crediting interest on an amount that is applied to a settlement option as of the Commencement Date. The interest rate credited to each Purchase Payment allocated to the Fixed Account will not be changed for at least twelve (12) months following the date on which it was received. Thereafter, the interest rate credited will not be changed more frequently than once per calendar quarter. In the case of transfers from the Sub-Accounts to the Fixed Account, the interest rate will not be changed more frequently than once per calendar quarter.
