NET INVESTMENT FACTOR. The Net Investment Factor for any Subaccount as of the end of any Valuation Period is determined by dividing (1) by (2) and subtracting (3) from the result, where:
NET INVESTMENT FACTOR. Each Subaccount’s Net Investment Factor for any valuation period is equal to (A / B) – C, where:
NET INVESTMENT FACTOR. For each Division of the Separate Account the Net Investment Factor for the current period is one plus the net investment rate for that Division. The net investment rate for the current period is equal to the gross investment rate for the Division reduced on each Valuation Date by a Mortality and Expense Risk Charge. The charge for these risks on the Issue Date is shown on page 4. The Company may increase or decrease the charge after the Issue Date, but the Company may not increase the charges to exceed the maximum charges shown on page 4. The gross investment rate for the current period for each Division is equal to a. divided by b. where:
a. is: • the investment income of the Division for the current period; plus • capital gains for the period, whether realized or unrealized, on the assets of the Division; less • capital losses for the period, whether realized or unrealized, on the assets of the Division; less • deduction for any tax liability paid or reserved for by the Company resulting from the maintenance or operation of the Division; and less • any reasonable expenses paid or reserved for by the Company which result from a substitution of other securities for shares of the Portfolio(s) as set forth in Section 2.4; and
b. is the value of the assets in the Division on the immediately preceding Valuation Date. The gross investment rate may be positive or negative. The deduction for any tax liability may be charged proportionately against those contracts to which the liability is attributable by a reduction in the gross investment rate for those contracts.
NET INVESTMENT FACTOR. For each Division of the Separate Account the Net Investment Factor for the current period is one plus the net investment rate for that Division. The net investment rate for the current period is equal to the gross investment rate for the Division reduced on each Valuation Date by a Mortality and Expense Risk Charge. The charge for these risks on the Issue Date is shown on page 4. The Company may increase or decrease the charge after the Issue Date, but the Company may not increase the charges to exceed the maximum charges shown on page 4. The gross investment rate for the current period for each Division is equal to a. divided by b. where:
a. is: . the investment income of the Division for the current period; plus . capital gains for the period, whether realized or unrealized, on the assets of the Division; less . capital losses for the period, whether realized or unrealized, on the assets of the Division; less . deduction for any tax liability paid or reserved for by the Company resulting from the maintenance or operation of the Division; and less . any reasonable expenses paid or reserved for by the Company which result from a substitution of other securities for shares of the Portfolio(s) as set forth in Section 2.4; and
b. is the value of the assets in the Division on the immediately preceding Valuation Date. The gross investment rate may be positive or negative. The deduction for any tax liability may be charged proportionately against those contracts to which the liability is attributable by a reduction in the gross investment rate for those contracts.
NET INVESTMENT FACTOR. The net investment factor for any Sub-Account for any Valuation Period is determined by dividing (a) by (b), and subtracting (c) from the result where:
(a) is the net result of:
(i) the net asset value per share of the Portfolio shares held in the Sub-Account determined as of the end of the current Valuation Period; plus
(ii) the per-share amount of any dividend (or, if applicable, capital gain distributions) made by the applicable Portfolio on shares held in the Sub-Account if the “ex-dividend” date occurs during the current Valuation Period; minus or plus
(iii) a per-unit charge or credit for any taxes incurred by or reserved for in the Sub-Account, which is determined by the Company to have resulted from the investment operations of the Sub-Account.
(b) is the net result of:
(i) the net asset value per share of the Portfolio shares held in the Sub-Account determined as of the end of the immediately preceding Valuation Period; minus or plus
(ii) the per unit charge or credit for any taxes incurred by or reserved for in the Sub-Account for the immediately preceding Valuation Period.
(c) is an amount representing the mortality and expense risk charge deducted from each Sub-Account on a daily basis, equal to an annual rate as shown in the Charges section on the Contract Data Page as a percentage of the daily net asset value of each Sub-Account. The net investment factor may be greater than, less than, or equal to one. Therefore, the accumulation unit value may increase, decrease or remain unchanged.
NET INVESTMENT FACTOR. Each Variable Account’s Net Investment Factor for any Valuation Period is equal to (A ÷ B), where:
NET INVESTMENT FACTOR. The net investment factor is used to compute the accumulation unit value for any Fund. For each Valuation Date, for each Fund, the net investment factor is equal to 1.0000000, plus the net return rate. The net return rate equals: [a - b - c] ------------- - e - f d Where:
NET INVESTMENT FACTOR. The ratio of the Subaccount performance of the current Valuation Day to the immediately prior Valuation Day. The Subaccount performance includes gains or losses in the Subaccounts, dividends paid, any capital gains or losses, any taxes, and Mortality and Expense Risk Charges.
NET INVESTMENT FACTOR. The Net Investment Factor is an index applied to measure the investment performance of a Sub-Account from one Valuation Period to the next. The Net Investment Factor may be greater than, less than, or equal to one; therefore, the value of a Variable Accumulation Unit may increase, decrease or remain unchanged. The Net Investment Factor for any Sub-Account for any Valuation Period is determined by dividing (a) by (b) and then subtracting (c) from the result where:
NET INVESTMENT FACTOR. The Net Investment Factor for any Subaccount as of the end of any Valuation Period is determined by dividing (1) by (2) and subtracting (3) from the result, where: is equal to: the net asset value per share of the mutual fund held in the Subaccount, found as of the end of the current Valuation Period; plus the per share amount of any dividend or capital gain distributions paid by the Subaccount's underlying mutual fund that is not included in the net asset value per share; plus or minus c. a per share charge or credit for any taxes reserved for, which SBL deems to have resulted from the operation of the Separate Account or the Subaccounts; operations of SBL with respect to the Contract; or the payment of premiums or acquisition costs under the Contract. is the net asset value per share of the Subaccount's underlying mutual fund as of the end of the prior Valuation Period. is a daily factor which is deducted from the Separate Account representing the Minimum Charge for mortality and expense risk and the Administration Charge. The Accumulation Unit Value may increase or decrease from one Valuation Period to the next. The number of Accumulation Units allocated to a Subaccount under this Contract is found by dividing: the amount allocated to, or deducted from, the Subaccount; by the Accumulation Unit Value for the Subaccount as of the end of the Valuation Period during which the amount is allocated or deducted under the Contract. The number of Accumulation Units allocated to a Subaccount under the Contract will not change as a result of investment experience. Events that change the number of Accumulation Units are: Purchase Payments that are applied to the Subaccount; Contract Value that is Transferred into or out of the Subaccount; Withdrawals and applicable Withdrawal Charges that are deducted from the Subaccount; Annuity Payments made from the Subaccount under Annuity Options 5 and 6; Annuity Start Amount applied from the Subaccount to one of Annuity Options 1 through 4, 7 or 8; Premium tax and Account Charges that are deducted from the Subaccount; and Reinvestment of dividends that are paid by the Subaccount. SBL will deduct a Mortality and Expense Risk Charge as shown on the Contract Data page against your Contract Value held in the Subaccounts. This charge is guaranteed not to increase. SBL will deduct a charge for Riders as shown on the Contract Data page against your Contract Value held in the Subaccounts. This charge will be deducted from Current Inte...
