Common use of Fixed Account Value Clause in Contracts

Fixed Account Value. Guarantee Periods The Participant elects one or more Guarantee Period(s) from among those made available by the Company. The period(s) elected will determine the Guaranteed Interest Rate(s). A Purchase Payment, a portion thereof (at least equal to the minimum Guarantee Period amount set forth in the Certificate Specifications page), or an amount transferred in accordance with the "Transfer Privilege" described below, allocated to a particular Guarantee Period, less any applicable premium taxes or similar taxes and any amounts subsequently withdrawn, will earn interest at the Guaranteed Interest Rate in effect during the Guarantee Period. Initial Guarantee Periods begin on the date a Net Purchase Payment is applied or, in the case of a transfer, on the effective date of the transfer. A Guarantee Period ends when the number of calendar years in the Guarantee Period elected (measured from the end of the calendar month in which the amount was allocated to the Guarantee Period) has elapsed. The last day of a Guarantee Period is the Renewal Date. Subsequent Guarantee Periods begin on the first day following the Renewal Date. A Guarantee Amount is any portion of a Participant's Account Value allocated to a particular Guarantee Period with a particular Renewal Date (including interest earned thereon). Guarantee Amounts allocated to Guarantee Periods of the same duration may have different Renewal Dates as a result of additional Purchase Payments, renewals, and transfers of portions of the Participant's Account Value. Each Guarantee Amount will be treated separately for purposes of determining any market value adjustment. The Company will notify the Participant in writing at least 45 and no more than 75 days prior to the Renewal Date of any Guarantee Amount. A new Guarantee Period of the same duration as the previous Guarantee Period will commence automatically at the end of the previous Guarantee Period, except as set forth below. To change the Guarantee Period after the Renewal Date, the Participant must elect, in writing prior to the Renewal Date, a different Guarantee Period from among those that the Company offers at such time, or provide written instructions to transfer all or a portion of the Guarantee Amount to one or more Sub-Accounts in accordance with the "Transfer Privilege" provision. A Guarantee Amount will not renew into a Guarantee Period that is not available on the Renewal Date or that will extend beyond the Certificate's Maximum Annuity Commencement Date. In these situations the Guarantee Amount will be automatically transferred to a Money Market Sub-Account. Each new Guarantee Amount must be at least the amount set forth on the Certificate Specifications page unless it is equal to the entire Guarantee Amount being transferred.

Fixed Account Value. Guarantee Periods The Participant elects one or more Guarantee Period(s) from among those made available by the Company. The period(s) elected will determine the Guaranteed Interest Rate(s). A Purchase Payment, a portion thereof (at least equal to the minimum Guarantee Period amount set forth in on the Certificate Specifications page), ) or an amount transferred in accordance with the "Transfer Privilege" described below, allocated to a particular Guarantee Period, less any applicable premium taxes or similar taxes and any amounts subsequently withdrawn, will earn interest at the Guaranteed Interest Rate in effect during the Guarantee Period. Initial Guarantee Periods begin on the date a Net Purchase Payment is applied or, in the case of a transfer, on the effective date of the transfer. A Guarantee Period period ends when the number of calendar years in the Guarantee Period elected (measured from the end of the calendar month in which the amount was allocated to the Guarantee Period) has elapsed. The last day of a Guarantee Period is the Renewal Date. Subsequent Guarantee Periods begin on the first day following the Renewal Date. A Guarantee Amount is any portion of a Participant's Account Value allocated to a particular Guarantee Period with a particular Renewal Date (including interest earned thereon). Guarantee Amounts allocated to Guarantee Periods of the same duration may have different Renewal Dates as a result of additional Purchase Payments, renewals, renewals and transfers of portions of the Participant's Account Value. Each Guarantee Amount will be treated separately for purposes of determining any market value adjustment. The Company will notify the Participant in writing at least 45 and no more than 75 days prior to the Renewal Date of any Guarantee Amount. A new Guarantee Period of the same duration as the previous Guarantee Period will commence automatically at the end of the previous Guarantee Period, except as set forth below. To change the Guarantee Period after the Renewal Date, the Participant must elect, in writing prior to the Renewal Dateend of such Guarantee Period, a different Guarantee Period from among those that the Company offers at such time, or provide written instructions to transfer all or a portion of the Guarantee Amount to one or more Sub-Accounts in accordance with the "Transfer Privilege" provision. A Guarantee Amount will not renew into a Guarantee Period that is not available on the Renewal Date or that will extend beyond the Certificate's Maximum latest permissible Annuity Commencement Date. In these situations the Guarantee Amount will be automatically transferred to a Money Market Sub-Account. Each new Guarantee Amount must be at least the amount set forth on the Certificate Specifications page unless it is equal to the entire Guarantee Amount being transferred.

Fixed Account Value. Guarantee Periods The Participant elects one or more Guarantee Period(s) from among those made available by the Company. The period(s) elected will determine the Guaranteed Interest Rate(s). A Purchase Payment, a portion thereof (at least equal to the minimum Guarantee Period amount set forth in on the Certificate Specifications page), including any applicable Purchase Payment Interest, or an amount transferred in accordance with the "Transfer Privilege" provision described below, allocated to a particular Guarantee Period, less any applicable premium taxes or similar taxes and any amounts subsequently withdrawn, will earn interest at the Guaranteed Interest Rate in effect during the Guarantee Period. Initial Guarantee Periods begin on the date a Net Purchase Payment is applied (or, in the case of a transfer, on the effective date of the transfer). A Guarantee Period ends when the number of calendar years in the Guarantee Period elected (measured from the end of the calendar month in which the amount was allocated to the Guarantee Period) has elapsed. The last day of a Guarantee Period is the Renewal Date. Subsequent Guarantee Periods begin on the first day following the Renewal Date. A Guarantee Amount is any portion of a Participant's Account Value allocated to a particular Guarantee Period with a particular Renewal Date (including interest earned thereon). Guarantee Amounts allocated to Guarantee Periods of the same duration may have different Renewal Dates as a result of additional Purchase Payments, renewals, renewals and transfers of portions of the Participant's Account Value. Each Guarantee Amount will be treated separately for purposes of determining any market value adjustment. The Company will notify the Participant in writing at least 45 and no more than 75 days prior to the Renewal Date of for any Guarantee Amount. A new Guarantee Period of the same duration as the previous Guarantee Period will commence automatically at the end of the previous Guarantee Period, except as set forth indicated below. To change the Guarantee Period after the Renewal Date, the Participant must elect, elect in writing prior to the Renewal Dateend of such Guarantee Period, a different Guarantee Period from among those that the Company offers at such time, or provide written instructions to transfer all or a portion of the Guarantee Amount to one or more Sub-Accounts in accordance with the "Transfer Privilege" provision. A Guarantee Amount will not renew into a Guarantee Period that is not available on the Renewal Date or that will extend beyond the Certificate's Maximum latest permissible Annuity Commencement Date. In these situations the Guarantee Amount will be automatically transferred to a Money Market Sub-Account. Each new Guarantee Amount must be at least the amount set forth on the Certificate Specifications page unless it is equal to the entire Guarantee Amount being transferred.