Premium Allocation. If the Stated Death Benefit has been increased since the policy date, premiums received are allocated to the coverage segments in the same proportion that the commission target premium for each segment bears to the total commission target premium of the policy.
Premium Allocation. Any Net Premium we receive before your Policy has been placed In Force will be allocated to a money market variable account, or a successor Account identified by us for such purpose. When all outstanding requirements to place your Policy In Force have been satisfied, the Accumulated Value will be transferred according to the most recent premium allocation instructions we have received from you. If your Policy provides for a full refund of premium upon exercise of the Free Look Right, then transfer to the Investment Options will occur on the Free Look Transfer Date. After the initial transfer to the Investment Options, any Net Premium we receive will be allocated to the Investment Options according to the most recent premium allocation instructions we have received from you, and per the terms of this Policy.
Premium Allocation. During the Right to Examine Policy Period, the portion of your Net Premium which you have elected to invest in a Division of the Variable Account will be invested in the Fidelity Investments Money Market Division. After the Right to Examine Policy Period, the balance of your funds in the Fidelity Investments Money Market Division will be reallocated as you directed in your Premium allocation shown in the Schedule. After the Right to Examine Policy Period, each Net Premium will be allocated to the Divisions of the Variable Account and the Guaranteed Interest Division as you directed in the application or as otherwise requested. You may change the allocation for subsequent Premiums by sending us written notice at our Customer Service Center. If you change your Premium allocation more than 5 times per Policy year, we will deduct a charge from the Divisions of the Variable Account and the Guaranteed Interest Division in the same proportion that your Account Value of each Division bears to your Net Account Value. The amount of this charge is shown in the Schedule. Premium allocation percentages may be in any whole number from 1% to 100% provided that at least $100 is allocated to each Division selected. VARIABLE ACCOUNT PROVISIONS 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 Form 1195 (VUL) - MD Page 11 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 assets of the Variable Account shall be available to cover the liabilities of the General Account only to the extent that the assets of the Variable Account exceed the liabilities of the Variable Account under this variable life policy. The assets of the Variable Account shall be val...
Premium Allocation. Your Premiums will be allocated to the subaccounts of the Separate Account, as shown in the Contract Schedule. If you do not give us allocation instructions with subsequent Premiums, we will allocate those Premiums according to the allocation instructions last received from you.
Premium Allocation. Premium allocations must conform to the percentages prescribed for the AAP you choose. You may not change the premium allocations while this agreement is in effect.
Premium Allocation. Your Initial Net Premium and any additional Net Premiums will be allocated to the subaccounts You select, as described on the Contract Schedule.
Premium Allocation. 100% of the single Premium paid and all Top-up(s) will be invested into Your selected Packaged fund. The Premium shall be invested according to the respective ILP sub-funds allocations.
Premium Allocation. The Owner has the right to designate the allocation of net premiums among the General Account and the Sub-Accounts of the Separate Account. The initial allocation is shown in the Data Section. That portion of the premium due on the Date of Issue which is allocated to the General Account will be transferred to the General Account upon receipt. However, any portion of the premium due on the Date of Issue which is allocated to a Sub-Account of the Separate Account will be held in the Money Market Fund Sub-Account until the later of:
Premium Allocation. The Owner has the right to designate the allocation of Net Premiums among the Fixed Account and the Sub-Accounts of the Variable Account. The initial allocation is shown in the Data Section. The allocation must be made in percentages. Each percentage must be a whole number. Each allocation made must be at least five percent. The Owner may change the allocation of future premiums by notifying us in writing at our Home Office. We reserve the right to restrict the number of different Sub-Accounts to which premiums are allocated over the life of this contract to seventeen.
Premium Allocation. Any Net Premium we receive before your policy has been placed In Force, will be allocated to the Money Market Variable Account. When all outstanding requirements to place your policy In Force have been satisfied, the Accumulated Value in the Money Market Variable Account will be transferred to the Investment Options according to the most recent premium allocation instructions we received from you. Any Net Premium we receive when your policy is In Force will be allocated to the Investment Options according to the most recent premium allocation instructions we received from you. Premium Processing – We deduct the Premium Load at the time we receive the premium payment. We will credit the resulting Net Premium to the Investment Options based on your instructions on file with us. Premium Limitation – We reserve the right to require Evidence of Insurability for any premium payment that would result in an increase in the Net Amount at Risk. If such Evidence of Insurability is not satisfactory, we may limit or refuse the premium payment. Guideline Premium Limit – This subsection applies only if the Guideline Premium Test is the Death Benefit Qualification Test specified in the Policy Specifications. In order for this policy to qualify as a life insurance contract under Section 7702 of the Code, the sum of the premiums paid less a portion of any withdrawals, as specified in the Code, may not exceed the Guideline Premium Limit, which is the greater of: • The Guideline Single Premium • The sum of the annual Guideline Level Premiums to the earlier of the date of payment or the Insured’s Age 100 The Guideline Premiums are shown in the Policy Specifications. The Guideline Premiums may change whenever there is a change in the Face Amount of insurance or certain other policy benefits or factors. Any such Guideline Premium change will be shown in a supplemental schedule that we will send to you at the time of the change. The Guideline Premiums are used to determine the premium limits beyond which this policy would fail to qualify as a life insurance contract under the Code. Payment of the Guideline Premiums does not guarantee that the policy will never lapse and additional premiums may be necessary to prevent the policy from lapsing in the future. P09SE5 The Guideline Premiums are determined by the rules that apply to this policy as set forth in the Code. The Guideline Premiums will be adjusted to conform to any changes in the Code. To the extent that a premium payment wo...
