Basic Compensation on Increases. In the case of an increase in the Specified Amount of insurance, a fee of 46% (31% where the insured has an attained age greater than 75 of C where: C is equal to the lesser of: (i) the premium paid in the twelve months following the effective date of the increase, (ii) the target premium for the amount of the increase, or (iii) the increase in the scheduled premium.
Appears in 2 contracts
Samples: Support Agreement (Penn Mutual Variable Annuity Account Iii), Penn Mutual Variable Annuity Account Iii
Basic Compensation on Increases. In the case of an increase in the Specified Amount of insurance, a fee of 4647% (3132% where the insured has an attained age greater than 75 75) of C where: C is equal to the lesser of: (i) the premium paid in the twelve months following the effective date of the increase, increase (ii) the target premium for the amount of the increase, or (iii) the increase in the scheduled premium.
Appears in 2 contracts
Samples: Support Agreement (Penn Mutual Variable Annuity Account Iii), Penn Mutual Variable Annuity Account Iii
Basic Compensation on Increases. In the case of an increase in the Specified Amount of insurance, a fee of 4647% (3132% where the insured has an attained age greater than 75 75) of C where: C is an amount equal to the lesser of: smaller of (i1) the first T of premium paid in for the twelve months following the effective date of the increase, (ii) the target premium for the amount any increase in Specified Amount of the increase, or policy in question and (iii2) the total increase in the scheduled annual basis premium.. Such fee shall be paid only once for each such increase. T is defined in subsection 2.1 above. --------------------------------------------------------------------------------
Appears in 1 contract
Samples: Support Agreement (Penn Mutual Variable Annuity Account Iii)
Basic Compensation on Increases. In the case of an increase in the Specified Amount of insurance, a fee of 4647% (3132% where the insured has an attained age greater than 75 75) of C where: C is an amount equal to the lesser of: smaller of (i1) the first T of premium paid in for the twelve months following the effective date of the increase, (ii) the target premium for the amount any increase in Specified Amount of the increase, or policy in question and (iii2) the total increase in the scheduled annual basis premium.. Such fee shall be paid only once for each such increase. T is defined in subsection 2.1 above. -------------------------------------------------------
Appears in 1 contract
Samples: Selling Agreement (Penn Mutual Variable Annuity Account Iii)
