Cost of Insurance Charge. A Cost of Insurance Charge is deducted from the Policy Value on each monthly processing date as part of the Monthly Policy Charge. The Cost of Insurance Charge is the cost of insurance rate times the net amount at risk. The cost of insurance rate is based on the attained age of the Insured. The maximum cost of insurance rates are shown on page 5. The net amount at risk is (a) minus (b) where:
Appears in 4 contracts
Samples: Insurance Agreement (Northwestern Mutual Variable Life Account), Northwestern Mutual Variable Life Account, Northwestern Mutual Variable Life Account
Cost of Insurance Charge. A Cost of Insurance Charge is deducted from the Policy Value on each monthly processing date as part of the Monthly Policy Charge. The Cost of Insurance Charge is the cost of insurance rate times the net amount at risk. The cost of insurance rate is based on the attained age of the Insured. The maximum cost of insurance rates are shown on page 5. The net amount at risk is (a) minus (b) where:: (a) is the death benefit on the monthly processing date, after deduction of the Monthly Administrative Charge and the Mortality and Expense Risk Charge, divided by 1.0032737; and (b) is the Policy Value on the monthly processing date after deduction of the Monthly Administrative Charge and the Mortality and Expense Risk Charge.
Appears in 2 contracts
Samples: Insurance Agreement (Northwestern Mutual Variable Life Account), Insurance Agreement (Northwestern Mutual Variable Life Account)
