Contract Quarter means a three-month period that starts on the same date as the Issue Date in eachthree-month period. For this purpose, if the Issue Date is not a calendar date in every month, then we look forward to the first day of the next calendar month. For example, assume a Contract is issued on January 31st; Contract quarters will begin on the first day of each quarter (May 1, July 31, and October 31).
Contract Value means the sum of amounts you have invested in the Cycle investments and the Subaccounts, plus any amount allocated to the HoldingAccount.
Contract Year means a year that starts on the Issue Date or on each Contract anniversary thereafter.
Customer Service Center means where you must send correspondence, service or transaction requests, and inquiries:. Please note:Premium payments must be sent to P.O. Box 10385, Des Moines, IA 50306-0385. The overnight mailing address is Midland National 8300 Mills Civic Parkway, West Des Moines, IA 50266-3833. This should only be used for mail delivered via a courier.
Cycle Business Day means any Business Day on which the Cycle Investment Unit Value for a Cycle Investment is determined.
Cycle End Date means the Cycle Business Day on which a Cycle Investment is scheduled to end.
Cycle Investment means an index-linked investment under the Contract that has a specific Index, Cycle Term, Cycle Start Date, Cycle End Date, FloorRate or Buffer Rate and Cap Rate.
Cycle Investment Unit means the measurement we use to calculate a Cycle Investment Value. Units may only bepurchased on the Cycle Start Date.
Cycle Investment Unit Value means The value of a Unit on a Cycle Investment Business Day. The initial UnitValue on a Cycle Start Date is $10.00.
Cycle Investment Value means the sum of the amounts you have invested in the Cycle Investments measured byUnits. The value of a Cycle Investment on any Cycle Business Day is equal to the number of units multiplied by that days Cycle Investment Unit Value. We also use this term, in context, to define the amount you have invested in a single CycleInvestment.
Cycle Start Date means the Business Day on which a Cycle Investment is established.
Cycle Structure means the downside protection type associated with a Cycle Investment. We offer two downside protection types: (i) The Floor Rate,and (ii) the Buffer Rate.
Cycle Term means the period between a Cycle Start Date and its Cycle End Date.
Cycle Type means all Cycle Investments having the same Index, Cycle Term, Cycle Structure, and same Floor Rate or Buffer Rate.
Death Benefit means the amount that we will pay to the Beneficiary in the event of the death of the Owner if the Contract is still in force and in theAccumulation phase. The amount of the Death Benefit is equal to the Contract Value.
Fair Value means a value used to determine a CycleInvestments Unit Value during the Cycle Term.
Fair Value Calculation Agent means an independent third party with whom the Company contractsto determine the Fair Value of a Cycle Investment during the Cycle Term. We may use different Fair Value Calculation Agents for different Cycle Investments. We will inform the Contract Owner of the Fair Value Calculation Agent for each CycleInvestment.
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