Loan Account Value. The Loan Account Value is a portion of the Accumulated Value set aside to secure the Policy Debt. The Loan Account Value is equal to the Loan Account plus Loan Interest Credit.
Loan Account Value. For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: • interest; plus • Contract Value loaned on that day; and decreased by any: • loan principal repaid; plus • earned interest transferred from the Loan Account on that day. CHARGES, FEES AND DEDUCTIONS Administrative Fee – We charge an administrative fee against the assets held in the Variable Investment Option(s). This fee is assessed daily at the annual rate which is shown in the Contract Specifications. This fee is guaranteed not to increase.
Loan Account Value. The Loan Account Value is the amount set aside to secure Policy Debt and is held in the Loan Account. We will credit interest to the Loan Account on a daily basis, using a 365-day year, and the daily equivalent of an annual interest rate not less than the guaranteed interest rate used for the Fixed Account. The Loan Account Value on the Policy Date is equal to any policy debt existing at such time. Thereafter, the Loan Value is defined on each Valuation Day as the following, including interest on each: • The amount in the Loan Account as of the end of the prior Monthly Payment Date • Plus any loan taken since the prior Monthly Payment Date • Minus any loan amount repaid since the prior Monthly Payment Date On each policy anniversary, if the Loan Account Value exceeds policy debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent premium allocation instructions, and if Policy Debt exceeds the Loan Account Value, the excess will be transferred from the Investment Options on a proportionate basis to the Loan Account.
Loan Account Value. For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: • interest; plus • Contract Value loaned on that day; and decreased by any: • loan principal repaid; plus • earned interest transferred from the Loan Account on that day.
Loan Account Value. 12 ANNUITY PROVISIONS CHARGES, FEES AND DEDUCTIONS Choice of Annuity Date .........................24
Loan Account Value. For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: • interest; plus • Contract Value loaned on that day; and decreased by any: • loan principal repaid; plus • earned interest transferred from the Loan Account on that day. Persistency Credit — Beginning on the eighth (8th) Contract Anniversary prior to annuitization, and on every Contract Anniversary thereafter that is prior to the Annuity Date, we will add to the Contract Value an amount equal to 0.55% multiplied by the Contract Value for that Contract Anniversary. The Persistency Credit will be allocated among Investment Options on a pro rata basis. ICC10:10-1180
Loan Account Value. For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: • interest; plus • Contract Value loaned on that day; and decreased by any: • loan principal repaid; plus • earned interest transferred from the Loan Account on that day. Table of Contents CHARGES, FEES AND DEDUCTIONS Administrative Fee Administrative Fee — We charge an administrative fee against the assets held in the Variable Investment Option(s). This fee is assessed daily at the annual rate which is shown in the Contract Specifications. This fee is guaranteed not to increase. Annual Fee Annual Fee — We charge an annual fee against the Contract Value on each Contract Anniversary prior to the Annuity Date, and at the time you withdraw the entire Net Contract Value (on a prorated basis for the current Contract Year). The annual fee is shown in the Contract Specifications. This fee is guaranteed not to increase. The annual fee is waived if, on any Contract Anniversary prior to the Annuity Date, or at the time you make a full withdrawal, the Net Contract Value is $50,000 or more on that date. We will not impose the annual fee on amounts applied to provide an annuity or on payment of the death benefit proceeds. Mortality and Expense Risk Charge (“Risk Charge”)
