Terms to know
Annuitization
At some point in the future, your accumulated value can be turned into an income stream. When you annuitize your contract, you receive a guarantee on the schedule and duration of your income payment stream. A statistical composite that measures the ups and downs of the stock, bond and other markets, based on companies represented in the index. One cannot directly invest in an index. The amount of interest credited to values in an Indexed Account at the end of a crediting period; linked to the growth in the index during the crediting period. The Index Credit may be zero but will never be less than zero. A value used to calculate the Index Credit. It is the maximum growth or upper limit that may be credited to your annuity, declared in advance and guaranteed for one crediting period at a time. A value used to calculate the Index Credit. It is the percentage of the index change that may be credited to your annuity. It is declared in advance and guaranteed for one crediting period at a time. The amount available to you upon surrender of your contract. It is equal to the greater of the contract value less any surrender charge, or the Guaranteed Minimum Surrender Value. This is the guaranteed minimum amount available to you upon surrender of your contract, death or annuitization. It is equal to 87.5% of your purchase payments accumulated at an interest rate of 1-3%, adjusted for amounts withdrawn. The rate will be set at contract issue and guaranteed for the life of your contract.
Index
Index Credit
Index Cap
Participation Rate
Surrender Value
Guaranteed Minimum Surrender Value
2038950
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