NET PREMIUM. The net premium is the amount of each premium paid that is available for allocation to the Divisions of the Separate Account. The amount of the net premium will be: - the premium paid; less - the Premium Expense Charge. The Premium Expense Charge will consist of the amounts shown on page 4.
NET PREMIUM. The Net Premium is the premium payment received less the Premium Expense Charge shown in Section 1, Contract Data.
NET PREMIUM. The premium payment minus the applicable Premium Expense Charge.
NET PREMIUM. The Net Premium is the portion of each premium which is applied to the subaccounts of the Variable Account. The Net Premium is equal to the premium paid less the sum of:
NET PREMIUM. The remainder of a premium after deduction of the Premium Expense Charge.
NET PREMIUM. 4 Ownership...................................................... 3
NET PREMIUM. The Net Premium equals the premium paid minus the premium expense charges shown in the Schedule. Premiums allocated to a new Segment will be subject to a new sales load. Premiums are allocated in the same proportion that the Guideline Annual Premium of each Segment bears to the sum of the Guideline Annual Premiums of all Segments. The Guideline Annual Premium for each Segment is shown in the Schedule. The target premium for each Segment is also shown in the Schedule. PREMIUM LIMITATION If the Definition of Life Insurance test used for your policy is the Guideline Premium/Cash Value Corridor Test, we will not accept any premium that causes your policy not to qualify as a life insurance policy under the Internal Revenue Code. No premium may be paid after the Insured's death. [ ] VARIABLE ACCOUNT PROVISION THE VARIABLE ACCOUNT [The Variable Account is an account established by us, pursuant to the laws of the State of Colorado, to separate the assets funding the benefits for the class of policies to which this policy belongs from the other assets of Security Life of Denver Insurance Company.] [The Variable Account is registered as a unit investment trust under the Investment Company Act of 1940. All income, gains and losses, whether or not realized, from assets allocated to the Variable Account are credited to or charged against the Variable Account without regard to income, gains or losses of our General Account. The assets of the Variable Account are our property but are separate from our General Account and our other Variable Accounts. That portion of the assets of the Variable Account which is equal to the reserves and other policy liabilities with respect to the Variable Account is not subject to creditor claims against us.] [The Variable Account is divided into divisions, each of which invests in a series fund portfolio designed to meet the objectives of the division. The current eligible divisions are shown in your annual policy prospectus. We may, from time to time, add additional divisions. If we do, you may be permitted to select from these other divisions subject to the terms and conditions we may impose on those allocations.] We reserve the right to limit the number of divisions in which you may invest over the life of the policy. This limit, if any, will be listed in the updated policy prospectus provided to you each year. CHANGES WITHIN THE VARIABLE ACCOUNT [When permitted by law, and subject to any required notice to you and approval of the Secu...
NET PREMIUM. Gross Premiums on Agency Billed Policies less the corresponding Sales Commissions.
NET PREMIUM. The premium paid less any premium tax levied for the year the premium is paid.
NET PREMIUM is the premium we receive reduced by any Premium Load. Owner, you, or your – refers to the Owner of this policy. Policy Date – is shown in the Policy Specifications. Policy months, quarters, years and anniversaries are measured from this date. Policy Debt – is the sum of the Loan Account Value and accrued Loan Interest. Policy Specifications – is a section of the policy that shows information specific to your policy. Risk Class – is used in determining policy charges and is determined by us during the underwriting process. It depends on the Insureds’ sex, health, tobacco use, and other factors. The Risk Classes of the Insureds are shown in the Policy Specifications. Risk Class may also be referred to as Risk Classification. Separate Account – is the Pacific Select Exec Separate Account, which is a Separate Account of ours that consists of subaccounts, also called Variable Accounts. Each Variable Account may invest its assets in a separate class of shares of a designated investment company or companies. Survivor – is the Insured remaining alive after the first death of the two Insureds. If the two Insureds die in close proximity such that it cannot be determined who died first, unless otherwise provided, it shall be assumed that the younger survived the older. Total Face Amount – is the sum of Face Amount of Basic Coverage and the Face Amounts of any rider providing coverage on the Insureds, unless specifically excluded. The Total Face Amount is used in determining the Death Benefit under this policy and is shown in the Policy Specifications. Valuation Day – is each day required by applicable law and currently includes each day the New York Stock Exchange is open for trading and our Administrative Office is open. Valuation Period – is the period of time between successive Valuation Days. Variable Account – is a separate account of ours or a subaccount of a separate account of ours in which assets are segregated from assets in our general account and our other separate accounts. Premiums and Accumulated Value under this policy may be allocated to one or more Variable Accounts. We, our, ours, and us – refer to Pacific Life Insurance Company. Written Request – is your signed request in writing, or on a form we provide, and received by us at our Administrative Office, containing information we need to act on the request.
