Common use of POLICY VALUE Clause in Contracts

POLICY VALUE. POLICY VALUE (a) premium payments; minus (b) Gross Partial Withdrawals (as defined in Section 5); plus (c) interest credited to the Fixed Account (see Section 7); plus (d) accumulated gains, including the deduction of the Mortality and Expense Risk Fee and Administrative Charge, in the Separate Account (see Section 6); minus (e) accumulated losses including the deduction of the Mortality and Expense Risk Fee and Administrative Charge, in the Separate Account (see Section 6); minus (f) service charges, premium taxes, rider fees and transfer fees, if any. You may use the Policy Value on the Annuity Commencement Date to provide income under the General Payment Provisions in Section 10.