Annuity Unit Value. The "Annuity Unit Value" was fixed at $1.00 on November 1, 1968. On August 27, 1981, the date the first Contribution was put into the Stock Division, the Annuity Unit Value was $1.26 and $1.52 for contracts with Assumed Base Rates of Net Investment Return of 5% and 3.5% a year, respectively. The Annuity Unit Value for any subsequent Valuation Period is the Annuity Unit Value for the immediately preceding Valuation Period multiplied by the Adjusted Net Investment Factor for such subsequent Valuation Period. The Adjusted Net Investment Factor for a Valuation Period is the Net Investment Factor for such period reduced for each calendar day in such subsequent Valuation Period by the Net Investment Factor times (i) .00013366, if the Assumed Base Rate of Net Investment Return is 5%, and (ii) .00009425, if the Assumed Base Rate of Net Investment Return is 3.5%. The Assumed Base Rate of Net Investment Return shall be 5%, except in states where the rate is not permitted by law.
Annuity Unit Value. The annuity unit value of each subaccount for any business day is equal to (1) multiplied by (2) divided by (3) where:
Examples of Annuity Unit Value in a sentence
ANNUITY UNIT VALUE An Annuity Unit is used to calculate the value of annuity payments.
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.
ANNUITY UNIT VALUE The initial value of an Annuity Unit for each Underlying Fund was set at $1.000000.
ANNUITY UNIT VALUE On any Valuation Date, the Annuity Unit Value for a Funding Option equals the Funding Option Annuity Unit Value on the preceding Valuation Date, multiplied by the net investment factor for that Funding Option for the Valuation Period just ended, divided by the Assumed Daily Net Investment Factor.
ANNUITY UNIT VALUE The Annuity Unit Value is calculated separately for each variable investment option.
More Definitions of Annuity Unit Value
Annuity Unit Value. The initial Annuity Unit Value for each Subaccount was arbitrarily set at $10 on the Business Day the Subaccount began operations. At the end of each subsequent Business Day, the Annuity Unit Value for each Subaccount is equal to (A x B) x C, where:
Annuity Unit Value means a standard of measurement for determining the value of each Investment Option. On the first business day selected by us, we set all Annuity Unit Values in each Investment Option of the Separate Account at $1.000000. The Annuity Unit Value on any subsequent business day is equal to the Annuity Unit Value of the Investment Option on the immediately preceding business day multiplied by the Net Investment Factor for that Investment Option for the business period divided by 1.000000 plus the rate of interest for the number of days in the business period based on the Assumed Investment Rate.
Annuity Unit Value. The Annuity Unit Value of each Subaccount was arbitrarily set when the Subaccount began operations. Thereafter, for a given Assumed Interest Rate, the Annuity Unit Value of each Subaccount for any Valuation Period is equal to (a) multiplied by (b) multiplied by (c), where: (a) is the net investment factor of the Subaccount for the Valuation Period; (b) is the Annuity Unit Value for the preceding Valuation Period; and (c) is an Assumed Interest Rate factor equal to [0.99991902] raised to a power equal to the number of days in the Valuation Period. The Assumed Interest Rate factor is the daily equivalent of dividing (i) one by (ii) one plus the Assumed Interest Rate shown on the Contract Data Pages.
Annuity Unit Value. The value of an Annuity Unit for each Sub-Account of the Separate Account will vary to reflect the investment experience of the applicable Eligible Funds and will be determined by multiplying the value of the Annuity Unit for that Sub-Account on the preceding day by the product of (a) the Net Investment Factor for that Sub-Account for the day for which the Annuity Unit Value is being calculated, and (b) the Annuity Unit Factor which neutralizes the Assumed Investment Return. Both the Annuity Unit Factor and the Assumed Investment Return appear on the Contract Schedule.
Annuity Unit Value. The Annuity Unit Value of each Subaccount was arbitrarily set when the Subaccount began operations. Thereafter, the Annuity Unit Value of each Subaccount for a Valuation Day is equal to (a) multiplied by (b) multiplied by (c), where: (a) is the net investment factor of the Subaccount for the Valuation Period ending on the Valuation Day; (b) is the applicable Annuity Unit Value for the preceding Valuation Day; and (c) is an Assumed Interest Rate factor equal to [0.99991902] raised to a power equal to the number of days in the Valuation Period ending on the Valuation Day. The Assumed Interest Rate factor is the daily equivalent of dividing (i) one by (ii) one plus the Assumed Interest Rate shown on the Contract Data Pages. MODIFIED SINGLE PREMIUM VARIABLE IMMEDIATE ANNUITY CONTRACT ------------------------------------------------------------------------------ GENWORTH LIFE AND ANNUITY INSURANCE COMPANY GENWORTH LIFE AND ANNUITY INSURANCE COMPANY COMMUTATION OF INCOME PAYMENTS ENDORSEMENT ------------------------------------------------------------------------------- This endorsement is effective on the Contract Date. It amends the Contract by adding the following: COMMUTATION DATE - The date we receive a written request for the commuted value, in a form acceptable to us, at our [Home Office]. If the Commutation Date is not a Valuation Day, the commuted value will be calculated as of the next Valuation Day. At any time on or after the Income Start Date and before the end of your Period Certain, you may request a commuted value of the remaining Income Payments for this Period Certain. Commuted value equals the commuted value of Fixed Income Payments and the commuted value of Variable Income Payments. Once the Period Certain is complete, there is no commuted value. Prior to the completion of the Period Certain, we will pay the commuted value as of the Valuation Day we receive all of the following in a form acceptable to us: - The signed request for commutation by both the Owner and Joint Owner. - Written approval of the commutation payment from all irrevocable Payees and irrevocable Beneficiaries. - Written approval of the commutation payment from any collateral assignee of the Contract. - Any other information we may require.
Annuity Unit Value. The Annuity Unit Value of each Subaccount was arbitrarily set when the Subaccount began operations. Thereafter, the Annuity Unit Value of each Subaccount for a Valuation Day is equal to (a) multiplied by (b) multiplied by (c), where: (a) is the net investment factor of the Subaccount for the Valuation Period ending on the Valuation Day; (b) is the Annuity Unit Value for the preceding Valuation Day; and
Annuity Unit Value means, with respect to a Variable Annuity for a given Valuation Period, the Annuity Unit Value for the immediately preceding Valuation Period multiplied by the Adjusted Net Investment Factor for the given Valuation Period. The Adjusted Net Investment Factor for a given Valuation Period is the Net Investment Factor for such Period reduced for each calendar day in such Period by the Net Investment Factor times (a) .00013366, if the Assumed Base Rate of Net Investment Return is 5.00%, and (b) .00009425, if the Assumed Base Rate of Net Investment Return is 3.50%. The Assumed Base Rate of Net Investment Return will be 5.00% except in states where that rate is not permitted by law.