Monthly Deduction. The Employer shall deduct dues or initiation fees from the second pay in each calendar month. If an employee has no pay due on that pay date such amounts shall be deducted from the next or subsequent pay.
Monthly Deduction. The Employer agrees to deduct regular FOP/OLC membership dues once each month from the pay of any employee in the bargaining unit eligible for membership upon receiving written authorization signed individually and voluntarily by the employee. The signed payroll deduction form must be presented to the Employer by the employee. Upon receipt of the proper authorization, the Employer will deduct FOP/OLC dues from the payroll check for the next pay period in which dues are normally deducted following the pay period in which the authorization was received by the Employer.
Monthly Deduction. The amount we deduct on the Monthly Anniversary Day from the Contract Value to pay the Cost of Insurance, Monthly Expense Charges, and the cost of any additional benefits provided by riders for the month beginning on that Monthly Anniversary Day.
Monthly Deduction. We will make a Monthly Deduction from the Contract Value on each Monthly Anniversary Day equal to the sum of the following:
(1) the Cost of Insurance, as described in Section 7.7, Cost of Insurance;
(2) the Monthly Expense Charges as shown in Section 1, Contract Data; and
(3) the cost of any additional benefits provided by riders for the contract month.
Monthly Deduction. The Monthly Deduction is the sum of the Cost of Insurance Charge and the Monthly Administrative Charge. The Monthly Deduction shall be deducted from the Accumulated Value of the policy on the Monthly Policy Date.
Monthly Deduction. The Employer agrees to deduct regular payroll deduction of dues, fees, or assessments once each month upon the date of issuance of the payroll warrant from the pay of any employees in the bargaining unit upon receiving written authorization signed individually and voluntarily by the employee. The signed payroll deduction form, furnished by the Union, must be presented to the Employer by the Union. Upon receipt of the authorization, the Employer will deduct Union dues, fees or assessments from the payroll check for the next pay period in which dues are normally deducted following the pay period in which the authorization was received by the Employer. The parties agree that neither the employees nor the Union shall have a claim against the Employer for errors in the processing of deductions, unless a claim of error is made in writing to the Employer within sixty (60) days after the date such error is claimed to have occurred. If it is found that an error was made, it will be corrected at the next pay period that the Union dues deduction would normally be made by deducting the proper amount.
Monthly Deduction. The Monthly Deduction is made on the Contract Date and on each subsequent Monthly Anniversary prior to the Insured's Attained Age 100. If any Monthly Anniversary occurs prior to the Contract Date, the deduction(s) for such day(s) will also be made on the Contract Date. The Monthly Deduction made from the subaccounts of the Variable Account is the sum of: 1) The monthly Cost of Insurance (see Section 7.2); 2) The monthly Administrative Charge. This charge is the sum of: a) The Basic Monthly Charge of $10.00; and b) Any Initial Monthly Charge. This is a charge per $1,000 of Initial Face Amount. However, if the Initial Face Amount is decreased according to Section 5.5, the charge will be based on the Face Amount remaining after the decrease. The charge is made on the Contract Date and then on each Monthly Anniversary until 180 charges have been made. The charge per $1,000 is shown on page 4; 3) Any Initial Monthly Charge for Increases. This is a charge per $1,000 of increase in Face Amount. However, if the increased Face Amount is later decreased according to Section 5.5, the charge will be based on the amount of the increased Face Amount remaining after the decrease. The charge is made on the effective date of each increase according to Section 5.3 and then on each Monthly Anniversary until 180 charges have been made. The charge is based on Attained Age on the date of the increase. The charge per $1,000 is shown on page 5; 4) Any Decrease Charge which results from a requested decrease in Face Amount according to Section 5.5; and 5) The monthly cost of any Additional Benefits. However, if the Monthly Deduction is greater than the Cash Surrender Value and the requirements of the Death Benefit Guarantee are met, the deduction made will not exceed the Accumulated Value less any Debt. We will pay the balance of the Monthly Deduction. The Monthly Deduction is taken from each subaccount according to the ratio for this contract of the accumulated value in the subaccount to the sum of the accumulated values in all the subaccounts. With our approval, you may choose other allocations of the Monthly Deduction.
Monthly Deduction. On the first day of each policy month until age 100 of the younger Insured, the Company will make a Monthly Deduction for that policy month from the Cash Value of this Policy. The amount of the Monthly Deduction for a policy month is equal to: - The cost of insurance and the cost of any riders for the policy month; PLUS - An amount not greater than the Maximum Monthly Policy Fee shown in Section 1; PLUS - An amount not greater than the Maximum Monthly Mortality and Expense Risk Charge shown in Section 1; PLUS - An amount not greater than the Maximum Monthly Administrative Charge shown in Section 1. At and after age 100 of the younger Insured the Cash Value of the Policy will be calculated as described in the Cash Value of the Policy Section, except that the Monthly Deductions will be equal to zero. If the Policy meets the Monthly Minimum Premium test (see below) or if a Guaranteed Death Benefit Rider is attached and the No Lapse Guarantee Benefit is in effect, the Monthly Deduction will be made, whether or not premiums are paid, until the Cash Value equals zero. Otherwise, the Monthly Deduction will be made, whether or not premiums are paid, as long as the Net Cash Value is sufficient to cover the entire Monthly Deduction. This provision will not continue any rider beyond the termination date as provided in the rider. The Monthly Deduction will be deducted from the sub-accounts and the Fixed Account in the same proportion as the Cash Value of the Policy is in the sub-accounts and the Fixed Account unless you choose in writing to have Monthly Deductions deducted: from a specific sub-account or the Fixed Account until the Policy's portion of that sub-account or of the Fixed Account equals zero; and then from the remaining sub-accounts and the Fixed Account in the same proportion as the Cash Value of the Policy is in the sub-accounts and the Fixed Account. 50 NEV-18-E COST OF INSURANCE The monthly cost of insurance for the Policy is equal to: the amount at risk; times the cost of insurance rate per $1,000 for that month divided by 1,000. The amount at risk is equal to: - The Death Benefit on the first day of the policy month discounted at the monthly equivalent of 4% per year; - The Cash Value on the first day of the policy month after the Monthly Deduction has been processed. COST OF INSURANCE RATES The cost of insurance rates for each policy year are based on: the sexes of the Insureds; the underwriting classes of the Insureds; and the ages of the Insureds ...
Monthly Deduction. 10 Allocations ....................................11
Monthly Deduction. On the Policy Date and each following Monthly Anniversary, We make a deduction from Your Account Value to cover the monthly expense charge shown in the POLICY INFORMATION section, and to provide life insurance coverage. Such deduction for any Policy Month is the sum of the following amounts, determined as of the beginning of that month: o the monthly expense charge; plus o the monthly cost of insurance charge; and plus o the monthly cost of any benefits provided by riders to this Policy. The monthly expense charge is comprised of an acquisition charge and an administrative charge. The acquisition charge, which is assessed for the first five Policy Years, is to compensate Us for the expenses related to the acquisition and underwriting of Your Policy. Your Policy will also be assessed an additional acquisition charge for the first five years following each non-automatic Face Amount increase. The administrative charge, which is assessed for all Policy Years, is to compensate Us for the administrative expenses associated with the Policy and the Separate Account. The monthly cost of insurance charge is the current monthly cost of insurance rate per $1,000, multiplied by the net amount at risk at the beginning of the Policy Month divided by $1,000. Any extra charge per $1,000 of Face Amount, shown in the POLICY INFORMATION section for either Insured, is included in the calculation of the current monthly cost of insurance rate per $1,000. If the Death Benefit is equal to the Face Amount, or the Face Amount plus the Account Value, then the net amount at risk is equal to the Death Benefit divided by 1.0032737, minus the amount in Your Account Value at that time. However, if the Death Benefit is equal to the Account Value of this Policy multiplied by a factor from the Table Of Minimum Death Benefit Factors, then the net amount at risk is equal the Death Benefit minus the amount in Your Account Value at that time. The cost of insurance rate per $1,000 is based on the sex, Attained Age, rate class, and smoker or non-smoker status of the Insureds. We will determine cost of insurance rates from time to time. Any change in the cost of insurance rates We use will be as described in the Changes In Policy Cost Factors provision. Such rates will never be more than those shown in the Table Of Guaranteed Maximum Cost Of Insurance Rates in the POLICY INFORMATION section.
