Common use of MONTHLY POLICY CHARGE Clause in Contracts

MONTHLY POLICY CHARGE. The Monthly Policy Charge is deducted from the Contract Fund Value on each monthly processing date, but if a monthly processing date is not a Valuation Date then the deduction will occur on the next Valuation Date. The Monthly Policy Charge is equal to the sum of the following: • the Monthly Administrative Charge; • the Monthly Underwriting and Issue Charge; • the Monthly Percent of Contract Fund Value Charge; • the Monthly Specified Amount Charge; • the Monthly Policy Debt Expense Charge, if any; • the Monthly Death Benefit Guarantee Charge; • the monthly charges for additional benefits, if any; and • the Monthly Cost of Insurance Charge. The Monthly Cost of Insurance Charge is the cost of insurance rate for the Insured’s Attained Age times the net amount at risk. The net amount at risk is (a) less (b) where: (a) is the Death Benefit on the monthly processing date (after deduction of all items in the Monthly Policy Charge for the month excluding the Monthly Cost of Insurance Charge) divided by 1.0016515; and (b) is the Policy Value on the monthly processing date (after deduction of all items in the Monthly Policy Charge for the month excluding the Monthly Cost of Insurance Charge). For purposes of (a) above, Death Benefit is defined as the Death Benefit calculated per Section 3.1 on the monthly processing date, where Policy Value is defined as it is in (b) above. The maximum amounts or rates applicable for each charge are shown on the Policy Schedule Pages (pages 4 and 5) of this Policy.

MONTHLY POLICY CHARGE. The Monthly Policy Charge is deducted from the Contract Fund Value on each monthly processing date, but if a monthly processing date is not a Valuation Date then the deduction will occur on the next Valuation Date. The Monthly Policy Charge is equal to the sum of the following: • · the Monthly Administrative Charge; • · the Monthly Underwriting and Issue Charge; • · the Monthly Percent of Contract Fund Value Charge; • · the Monthly Specified Amount Charge; • · the Monthly Policy Debt Expense Charge, if any; • · the Monthly Death Benefit Guarantee Charge; • · the monthly charges for additional benefits, if any; and • · the Monthly Cost of Insurance Charge. The Monthly Cost of Insurance Charge is the cost of insurance rate for the Insured’s Attained Age times the net amount at risk. The net amount at risk is (a) less (b) where: (a) is the Death Benefit on the monthly processing date (after deduction of all items in the Monthly Policy Charge for the month excluding the Monthly Cost of Insurance Charge) divided by 1.0016515; and (b) is the Policy Value on the monthly processing date (after deduction of all items in the Monthly Policy Charge for the month excluding the Monthly Cost of Insurance Charge). For purposes of (a) above, Death Benefit is defined as the Death Benefit calculated per Section 3.1 on the monthly processing date, where Policy Value is defined as it is in (b) above. The maximum amounts or rates applicable for each charge are shown on the Policy Schedule Pages (pages 4 and 5) of this Policy.