MORTALITY AND EXPENSE RISK CHARGE. In calculating unit values We will deduct a mortality and expense risk charge from the variable subaccounts which is equal, on an annual basis, to a percentage of the daily net asset value. This percentage is the Annual Mortality and Expense Risk Fee shown under Contract Data. The deduction is made to compensate Us for assuming the mortality and expense risks under contracts of this type. The deduction will be:
MORTALITY AND EXPENSE RISK CHARGE. The mortality and expense risk charge compensates the Company for its assumption of certain mortality and expense risks. The mortality and expense risk charge is reflected in the unit values of each of the Sub-Accounts selected. As a result, this charge will continue to be applicable to any variable annuity payout option or periodic withdrawal option. This charge is described above in the Net Investment Factor provision.
MORTALITY AND EXPENSE RISK CHARGE. 5 ADMINISTRATIVE CHARGE...........................................5
MORTALITY AND EXPENSE RISK CHARGE. The annualized Mortality and Expense Risk Charge, for this rider, is shown on page 1 of this rider. After the Rider Date, the Mortality and Expense Risk Charge for this rider will not change.
MORTALITY AND EXPENSE RISK CHARGE. A charge we deduct from the assets of the subaccounts to compensate us for the mortality and expense risks for the contract. We show this charge in Section 1, Contract Data.
MORTALITY AND EXPENSE RISK CHARGE. Each Business Day during the Accumulation Phase, we deduct a Mortality and Expense Risk Charge from your selected Investment Options’ assets. The Mortality and Expense Risk Charge is an annualized rate that is calculated on a daily basis as a percentage of the Investment Options’ net asset value. The net asset value is the price of an underlying Investment Option. The Mortality and Expense Risk Charge is shown on the Contract Schedule. Your annual Contract Maintenance Charge is shown on the Contract Schedule. We waive this charge as follows: · During the Accumulation Phase if the total Contract Value is at least equal to the Designated Amount at the end of the last Business Day before the Contract Anniversary. · During the Annuity Phase if the Contract Value on the Annuity Date is at least equal to the Designated Amount. The Designated Amount is shown on the Contract Schedule. We determine the total Contract Value for all individually owned contracts by using the Owner’s social security number, and for non-individually owned contracts we use the Annuitant’s social security number. During the Accumulation Phase, we deduct the Contract Maintenance Charge from the Contract Value on the Contract Anniversary. If the Contract Anniversary is not a Business Day, we deduct the charge on the next Business Day. If you take a full Withdrawal from your contract (other than on a Contract Anniversary), we deduct the full Contract Maintenance Charge. We deduct the Contract Maintenance Charge from the Investment Options proportionately based on the amount of the Contract Value in each Investment Option relative to the total Contract Value. During the Annuity Phase, we deduct the Contract Maintenance Charge proportionately from each Annuity Payment.
MORTALITY AND EXPENSE RISK CHARGE. A charge for the mortality and expense risk the Company assumes is deducted from the Policy Value on each monthly processing date as part of the Monthly Policy Charge. The maximum Monthly Mortality and Expense Risk Charge is shown on page 4.
MORTALITY AND EXPENSE RISK CHARGE. 20% Annually ANNUAL ADMINISTRATIVE FEE ............... $30* WITHDRAWAL CHARGES Contract Year of Withdrawal ........... 1 2 3 4 5 6 7 8 9 + Withdrawal Charge ..................... 8% 7% 6% 5% 4% 3% 2% 1% 0% FREE WITHDRAWAL PERCENTAGE .............. 10% MINIMUM GUARANTEED RATE ................. 3% SEPARATE ACCOUNT ........................ Variflex SEPARATE ACCOUNT SERIES: 1 Money Market Series 8 Specialized Asset Allocation Series 2 High Grade Income Series 9 Growth Series 3 High Yield Series 10 Value Series 4 Global Aggressive Bond Series 11 Worldwide Equity Series 5 Growth-Income Series 12 Social Awareness Series 6 Equity Income Series 13 Emerging Growth Series 7 Managed Asset Allocation Series 14 Small Cap Series METHOD FOR DEDUCTIONS: Deductions for the Annual Administrative Fee, Premium Taxes, and any unallocated partial Withdrawals, including Systematic Withdrawals, will be made sequentially from the Contract Value in the order of the Series listed above. The value of each Account will be depleted before the next is charged. The General Account is the last Account charged.
MORTALITY AND EXPENSE RISK CHARGE. Each Valuation Period, the Company deducts a Mortality and Expense Risk Charge from each Sub-Account of the Separate Account which is equal, on an annual basis, to the amount shown on the Contract Schedule. The Mortality and Expense Risk Charge compensates the Company for assuming the mortality and expense risks under this Contract. Each Valuation Period, the Company deducts an Administrative Charge from each Sub-Account of the Separate Account which is equal, on an annual basis, to the amount shown on the Contract Schedule. The Administrative Charge compensates the Company for the costs associated with the administration of this Contract and the Separate Account.
MORTALITY AND EXPENSE RISK CHARGE. We deduct a Mortality and Expense Risk Charge from each Sub-Account in which you are invested. The charge, which is shown on the Contract Schedule, compensates us for assuming the mortality and expense risks under this Contract.
