Common use of MUTUAL FUND EXPENSES Clause in Contracts

MUTUAL FUND EXPENSES. Each Subaccount invests in shares of a mutual fund. The net asset value per share of each underlying fund reflects the deduction of any investment advisory and administration fees and other expenses of the fund. These fees and expenses are not deducted from the assets of a Subaccount, but are paid by the underlying funds. The Owner indirectly bears a pro rata share of such fees and expenses. In addition, a fund may assess a redemption fee or other similar charge in the event an Owner redeems his or her investment in the fund (through the Subaccount). Any such fee will be deducted from Contract Value or from the proceeds of a Withdrawal request. An underlying fund's fees and expenses are not specified or fixed under the terms of this Contract.