Loan Interest. We will charge interest on a contract loan from the date of the loan at the Loan Interest Rate shown in Section 1, Contract Data. We may establish a lower rate for any period for which the contract loan is outstanding. Interest is payable at the end of each Contract Year and on the date the loan balance is repaid. If interest is not received by the Contract Anniversary, we will transfer the accrued loan interest from the Fixed and Variable Accounts to the loan account on a pro-rata basis.
Appears in 4 contracts
Samples: Kansas City Life Variable Life Separate Account, Kansas City Life Variable Life Separate Account, Kansas City Life Variable Life Separate Account
Loan Interest. We will charge interest on a contract any loan balance from the date of the loan at the Loan Interest Rate rate shown in Section 1, Contract Data. We may establish a lower rate for any period for which the contract loan balance is outstanding. Interest is payable at the end of each Contract Year and on the date the loan balance is repaid. If interest is not received by the Contract Anniversary, Anniversary we will transfer the accrued loan interest from the Fixed and Variable Accounts to the loan account on a pro-rata basis.
Appears in 4 contracts
Samples: Flexible Premium Variable (Kansas City Life Variable Life Separate Account), Flexible Premium Variable (Kansas City Life Variable Life Separate Account), Flexible Premium Variable (Kansas City Life Variable Life Separate Account)