DURING THE ACCUMULATION definition

DURING THE ACCUMULATION. PERIOD: Upon the death of an Annuitant, who is not the Owner, during the Accumulation Period, the Certificate Owner may designate a new Annuitant, subject to the Company's underwriting rules then in effect. If no designation is made within thirty (30) days of the death of the Annuitant, the Certificate Owner will become the Annuitant effective as of the death of the Annuitant. If the Certificate Owner is a non-natural person, the death of the Annuitant will be treated as the death of the Certificate Owner and a new Annuitant may not be designated.
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DURING THE ACCUMULATION. PERIOD: The death benefit will be the greater of (i) the Purchase Payments, less any withdrawals and related Contingent Deferred Sales Charges; or (ii) the Certificate Holder's Account Value determined as of the end of the Valuation Period during which the Company receives both due proof of death and an election for the payment method. DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD: A non-spousal Beneficiary must elect the death benefit to be paid under one of the following options in the event of the death of the Certificate Holder during the Accumulation Period:
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Examples of DURING THE ACCUMULATION in a sentence

  • DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD -- This provision of the Contract is amended to add that if the Beneficiary is the spouse of the Owner, he or she may elect to continue the Contract in his or her own name and upon such election the Account Value will be adjusted to an amount equal to the death benefit amount determined upon such election and receipt of due proof of death of the Owner.

  • TRANSFER PROVISIONS TRANSFERS DURING THE ACCUMULATION PERIOD Subject to any limitations imposed by the Company on the number of transfers, shown on the Contract Schedule, that can be made during the Accumulation Period, the Contract Owner may transfer all or part of the Contract Owner’s interest in a Sub-Account by Written Request without the imposition of any fee or charge if there have been no more than the number of free transfers shown on the Contract Schedule.

  • During the Accumulation Period, the Contract Owner can transfer Contract Values to the Fixed Account from the Separate Account and from the Fixed Account to the Separate Account, subject to the TRANSFERS DURING THE ACCUMULATION PERIOD section set forth in this rider.

  • DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD A Beneficiary must elect the death benefit to be paid under one of the options below (unless the Owner has previously made such election) in the event of the death of an Owner during the Accumulation Period.

  • PROCEEDS PAYABLE ON DEATH DEATH OF CONTRACT OWNER DURING THE ACCUMULATION PERIOD Upon the death of the Contract Owner or a Joint Contract Owner during the Accumulation Period, the death benefit will be paid to the Beneficiary designated by the Contract Owner.

  • The following replaces the "Spousal Continuation During the Accumulation Period" section of the "Death Benefit Provisions:" SPOUSAL CONTINUATION DURING THE ACCUMULATION PERIOD - If the Owner dies during the Accumulation Period and the Beneficiary is his or her spouse, the Beneficiary may choose to continue the Contract in his or her own name and exercise all the Owner's rights under the Contract.

  • PROCEEDS PAYABLE ON DEATH DEATH OF OWNER DURING THE ACCUMULATION PERIOD: Upon the death of the Owner, or any Joint Owner, during the Accumulation Period, the death benefit will be paid to the Beneficiary(ies) designated by the Owner.

  • The following replaces the "Death Benefit Amount During The Accumulation Period" and the "Beneficiary Continuation Options During Accumulation Period - Spousal Continuation During the Accumulation Period" sections of the "Death Benefit Provisions:" DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD DEATH BENEFIT The death benefit ("Death Benefit Amount") will be the greater of: 1.

  • THE VALUE OF AMOUNTS ALLOCATED TO THE SEPARATE ACCOUNT DURING THE ACCUMULATION AND ANNUITY PERIODS IS NOT GUARANTEED AND WILL INCREASE OR DECREASE BASED UPON THE INVESTMENT EXPERIENCE OF THE INVESTMENTS UNDERLYING THE SUBACCOUNTS YOU CHOOSE.

  • THE VALUE OF AMOUNTS ALLOCATED TO THE SEPARATE ACCOUNT DURING THE ACCUMULATION AND ANNUITY PERIODS IS NOT GUARANTEED AND MAY INCREASE OR DECREASE BASED UPON THE INVESTMENT EXPERIENCE OF THE FUND UNDERLYING THE SEPARATE ACCOUNT.

Related to DURING THE ACCUMULATION

  • Controlled Accumulation Period means, unless a Pay-Out Event shall have occurred prior thereto, the period commencing at the close of business on the last day of the February 2022 Monthly Period or such later date as is determined in accordance with subsection 4.03(c) and ending on the first to occur of (a) the commencement of the Early Amortization Period, (b) the payment in full of the Invested Amount and (c) the Expected Final Payment Date.

  • Accumulation Period has the meaning set forth in the Indenture Supplement.

  • Controlled Accumulation Amount means $104,166,667; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount shall be the amount specified in the definition of “Controlled Accumulation Amount” in the Indenture Supplement.

  • Controlled Accumulation Period Factor means, for each Monthly Period, a fraction, the numerator of which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without duplication) of (a) the Series Invested Amount as of the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series 2022-2) that are not expected to be in their revolving periods, and (c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal Sharing Series and are in their revolving periods.

  • Accumulation Commencement Date means January 1, 2021, or such later date as the Calculation Agent on behalf of the Issuer determines in accordance with Section 2.11 hereof.

  • Deficit Controlled Accumulation Amount means (a) on the first Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such Distribution Date and (b) on each subsequent Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the Principal Funding Account on such subsequent Distribution Date.

  • Controlled Accumulation Period Length has the meaning specified in subsection 4.03(c).

  • Suspension Date has the meaning set forth in Section 4.18(a).

  • Suspension Period shall have the meaning assigned thereto in Section 2(b).

  • Offer Commencement Date means the date on which Purchaser commences the Offer, within the meaning of Rule 14d-2 under the Exchange Act.

  • Certain Funds Period means the period commencing on the Execution Date and ending on the first date on which a Mandatory Cancellation Date occurs or exists.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Accumulation Amount means $83,333,333.34; provided, however, if the commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture Supplement.

  • Accumulation shall not exceed an amount equal to twice the annualized current vacation earnings rate of the employee. This is the employee’s “Maximum Balance.”

  • Distribution Commencement Date means the Issue Date or such other date as may be specified as the Distribution Commencement Date on the face of such Perpetual Security;

  • Subsequent Reset Date means the date or dates specified in the applicable Final Terms;

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Draw Date means, with respect to any Insured Distribution Date, the third Business Day immediately preceding such Insured Distribution Date.

  • Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Draw Period is the period of time from the Effective Date through the earlier to occur of (a) June 30, 2012, or (b) an Event of Default.

  • the commencement date means the date on which the Contract shall take effect, as notified by the Authority to the Contractor in a letter awarding the Contract.

  • Monitoring Period means the period from the Launch Date to the Valuation Date (both dates including) at such point in time at which the Reference Price of the Underlying is determined and published..

  • Term Commencement Date shall be the later of (i) November 1, 2006 or (ii) the date on which Landlord’s Work is Substantially Complete (or the date on which Landlord’s Work would have been Substantially Complete absent Tenant Delay or Force Majeure (as defined below)); provided, however, that if the Term Commencement Date is not the first day of a calendar month, then the first lease year shall be extended through the last day of the calendar month in which the first 12-month period expires, and Rent for the additional period at the end of the first lease year shall be payable at the rate for the 12th month of the Term. “Force Majeure” means accident; breakage; repair; governmental regulation, moratorium or other governmental action. The “Term Expiration Date” shall be the day immediately preceding the seventh (7th) anniversary of the Term Commencement Date, provided that if such preceding day is not the last day of a calendar month, then the Term Expiration Date shall be the last date of the calendar month in which such preceding day occurs. Landlord and Tenant shall each execute and deliver to the other written acknowledgment of the actual Term Commencement Date and the Term Expiration Date when such are established, and shall attach it to this Lease as Exhibit B. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain validation by any medical review board or other similar governmental licensing of the Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date.