Common use of Net Investment Clause in Contracts

Net Investment. FACTOR The net investment factor for each subaccount for each valuation period is determined by dividing a) by b) and subtracting c) from the result, where: a) is equal to the net asset value of the subaccount as of the end of the valuation period; PLUS the amount of all investment income and capital gains, realized or unrealized, credited to the net assets of the subaccount during the valuation period; MINUS the amount of capital losses, realized or unrealized, charged against the net assets during the valuation period; MINUS the amount charged against the subaccount for taxes, or any amount set aside during the valuation period by the company as a provision for taxes attributable to the operation or maintenance of the subaccount; b) is equal to the net asset value of the subaccount for the immediately preceding valuation period; MINUS the amount charged against the subaccount for taxes, or any amount set aside during the valuation period by the company as a provision for taxes attributable to the operation or maintenance of the subaccount; c) is a charge no greater than 0.0034035% of the daily net assets in the subaccount for each day in the valuation period. The assumed interest rate in the Variable Option Tables is 5.00% per year. The daily assumed interest factor derived from an assumed interest rate of 5.00% is 0.9998663. We may also offer other assumed interest rates and other variable payment options from time to time, which may be available at the time you elect your option.