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How Interest is Credited – Indexed Strategies

Annual Monthly Average with Cap (Continued)

In this example, the Contract Date is the day the policy was issued. The same day and month of subsequent years become the anniversary dates. On September 29, 2019 the closing Index value was 2,976.74.

The first Contract Month begins on the Contract Date. Subsequent Contract Months begin on the same day of each subsequent month, the monthiversary dates. (In the event the day of the Contract Date is later than the last day of any subsequent month, that monthiversary date will be the last day of the month.)

The 12 closing index values on each monthiversary between October 29, 2019 and September 29, 2020 (the next Contract Anniversary) are averaged to obtain the Monthly Average Index value of 3,113.76.

To calculate the percentage change, divide the Monthly Average Index value by the Index value on the Contract Date and subtract 1: (3,113.76 / 2,976.74) - 1 = 0.046 or 4.6%

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