One-Year Monthly Point-to-Point
The monthly point-to-point index change is determined by subtracting the prior months index value from current months index value and dividing it by the prior monthsindex value. If this results in a positive monthly point-to-point index change and is not more than the declared cap, then it is
used as the capped index change for that month. If it is more than the declared cap, then we use the declared cap as the capped index change for that month.
A negative monthly point-to-point index change is not subject to a cap.
A capped index change for each month is captured over a 12-month period. The sum of the 12 monthly capped index changes will be the index credit rate on the index crediting date. The index credit rate is multiplied by the options account value to determine the index credit.
One-Year Annual Point-to-Point
The annual point-to-point index change is determined by subtracting the prior years index value from the current years index value and dividing it by the prior years index value. If this results in a positive annual point-to-point index change and is not more than the declared cap, then it is...