Annuity Unit definition

Annuity Unit. An accounting unit of measure used to calculate the amount of Annuity Payments.

Annuity Unit. A unit of measure used to calculate the amount of the variable income payments.

Annuity Unit. An accounting unit used to calculate Variable Annuity Payments during the Annuity Period.

Examples of Annuity Unit in a sentence

• The value of an Annuity Unit may increase or decrease from one month to the next.

• To calculate the present value of variable annuity payments, We will use the AIR elected by the Contract Owner when this annuity option was selected and the Annuity Unit value on the date of receipt of Due Proof of Death.

• The number of Annuity Units in each Subaccount will not change unless exchanges of Annuity Units are made (or if the Joint and Survivor Annuity Option is elected and the Primary Annuitant dies first), but the Annuity Unit Value of those Annuity Units will vary.

• The Annuity Unit value, if applicable, and Contract Value used to effect annuity payments will be determined as of the Annuity Commencement Date.

• For each Subaccount, we divide the amount of the initial variable annuity payment from each Subaccount by the Annuity Unit Value for that Subaccount (the “Annuity Unit Value”) on the Annuity Date, to obtain the number of Annuity Units for that Subaccount.

More Definitions of Annuity Unit

Annuity Unit. The value of any Annuity Unit for each Sub-Account of the Variable Account was arbitrarily set initially at $10. The Sub-Account Annuity Unit Value at the end of any subsequent Valuation Period is determined as follows:

Annuity Unit. A measure of the net investment results for each variable investment option during the Annuity Period. Annuity Units are used to calculate the amount of each variable Annuity payment.

Annuity Unit means a unit of measurement used in determining the amount of the variable portion of each Annuity payment. The value of an Annuity Unit for each Subaccount will depend on the assumed investment rate and the investment experience of that Subaccount. It will vary in dollar amount.

Annuity Unit. Value The value of an annuity unit for each variable subaccount was arbitrarily set at $1 when the first fund shares were bought. The value for any later valuation period is found as follows:

Annuity Unit. An annuity unit is the unit of measure used to calculate variable annuity payments. An annuity unit is calculated by dividing the dollar amount of the first variable annuity payment attributable to that subaccount by the annuity unit value of that subaccount.

Annuity Unit. A unit of measure used in the calculation of the amount of the second and each subsequent Variable Annuity payment from the Variable Account.

Annuity Unit means a measure of the value of annuity payments under a Variable Annuity Option of the policy.