Interest Crediting definition

Interest Crediting. Interest is credited based upon a 30/360 basis, applied to the Fund Balance each day. Periodic Payouts: On the 15th of each May and November, GLAIC will pay the Policyholder all accrued and unpaid interest (if such date is not a Business Day, the Periodic Payout will be made on the next following Business Day, and in such cases the amount of interest shall not be adjusted for non-Business Days) (each, an “Interest Payment Date”); provided, however, that the final Periodic Payout shall be on the Maturity Date, on which date all accrued and unpaid interest will be paid.

Interest Crediting. Interest is credited based upon a 30/360 basis, applied to the Fund Balance each day.

Interest Crediting. Any Cash Value allocated to the Policy Loan Account will be credited interest daily. The guaranteed minimum annual effective rate is shown on the Policy Data Page. Interest in excess of the minimum guaranteed rate may be credited. Any Cash Value allocated to the Fixed Accounts will be credited interest daily. The guaranteed minimum annual effective rate for each Fixed Account is shown on the Policy Data Page. Interest in excess of the minimum guaranteed rate may be credited. Each Fixed Accounts may credit a different rate. The current interest rate in effect at the time of transfer to the Fixed Accounts will be guaranteed through the end of the calendar quarter. Thereafter, any excess interest rates will be guaranteed for the following three months. Where required, we have filed our method for determining current interest rates with the Insurance Department of the state in which this policy was delivered.

Examples of Interest Crediting in a sentence

• Surrenders removed from the Indexed Account will not receive any interest credited on the Interest Crediting Date.• Withdrawal charges may apply.• A market value adjustment (MVA) may apply to distributions from a Fixed Period Allocation.

• Surrenders removed from the Indexed Account will not receive any interest credited on the Interest Crediting Date.• Withdrawal charges may apply.• A market value adjustment (MVA) may apply to distributions from a Fixed Period Allocation.• If I am under age 59 1/2, a 10% premature distribution tax penalty may apply.

• Exchange amounts removed from the Indexed Account will not receive any interest credited on the Interest Crediting Date of the Fixed Indexed Annuity contract.

• Some things to consider, off the top of my head, include:• Interest Crediting Mechanism• GMWB• Hedging• Commission schedules• Administration system• Reserve and capital considerations• Target Profitability and cash flow pattern• Regulatory environment / rating agency response• Strategic RiskAnyway, please let me know what you think by the end of the week.

• SDCERS’ Internal Auditor, Robert Wilson, is eligible to enter DROP within one year and has recused himself from participating on discussions relating to DROP Interest Crediting.

More Definitions of Interest Crediting

Interest Crediting. Any Cash Value allocated to the Policy Loan Account will be credited interest daily. The guaranteed minimum annual effective rate is shown on the Policy Data Page. Interest in excess of the minimum guaranteed rate may be credited. Any Cash Value allocated to the Fixed Account will be credited interest daily. The guaranteed minimum annual effective rate is shown on the Policy Data Page. Interest in excess of the minimum guaranteed rate may be credited. Where required, we have filed our method for determining current interest rates with the Insurance Department of the state in which this Policy was delivered.

Interest Crediting. Interest is credited based on a [30-day month and using a 360-day year], applied to the Fund Balance each day.

Interest Crediting means the crediting of interest for a Director’s Deferred Cash Account pursuant to Section 7.3(b)(i) of the Plan which interest shall be calculated at interest rates determined by the Administrator.

Interest Crediting. We credit interest daily to Fixed Account I at the minimum guaranteed interest rate shown on the policy schedule. We may credit excess interest to Fixed Account I in an amount which we will declare from time to time. Declared interest rates will be guaranteed for one Policy Year.

Interest Crediting. Any Cash Value allocated to the Policy Loan Account will be credited interest daily. The guaranteed minimum annual effective rate is 3%. Interest in excess of the minimum guaranteed rate may be used. Any Cash Value allocated to the Fixed Account will be credited interest daily. The guaranteed minimum annual effective rate is 3%. Interest in excess of the minimum guaranteed rate may be used. The current interest rate in effect at the time of transfer to the Fixed Account will be guaranteed through the end of the calendar quarter. Thereafter, any excess interest rates will be guaranteed for the following three months. Where required, we have filed our method for determining current interest rates with the Insurance Department of the state in which this Policy was delivered.

Interest Crediting. Any Cash Value allocated to the Policy Loan Account will be credited interest daily. The guaranteed minimum annual effective rate is shown on the Policy Data Page. Interest in excess of the minimum guaranteed rate may be credited. Any Cash Value allocated to the Fixed Account will be credited interest daily. The guaranteed minimum annual effective rate for the Fixed Account is shown on the Policy Data Page. Interest in excess of the minimum guaranteed rate may be credited. Where required, we have filed our method for determining current interest rates with the Insurance Department of the state in which this policy was delivered.

Interest Crediting. Interest is credited based upon an Actual/360 basis, applied to the Fund Balance each day. Index Rate: One-month LIBOR, determined as specified in the applicable prospectus supplement for the Program (the “Prospectus Supplement”), expressed as a percentage to the fifth place following the decimal.