Pro Rata Adjustments. A Pro Rata Adjustment is calculated separately for each withdrawal, creating a decrease in the death benefit proportional to the decrease the withdrawal makes in the Contract Value. Pro Rata Adjustments are made for amounts withdrawn for partial surrenders and any associated negative MVAs and surrender charges (which shall be deemed to be amounts withdrawn) but not for any contract fee-related surrenders. The death benefit will equal the greatest of (1), (2), or (3):
Appears in 4 contracts
Samples: Individual Mva (Variable Account D of Union Security Insurance Co), Annuity Contract (Variable Account D of Fortis Benefits Insurance Co), Individual Mva (Variable Account D of Fortis Benefits Insurance Co)
Pro Rata Adjustments. A Pro Rata Adjustment is calculated separately for each withdrawal, creating a decrease in the death benefit proportional to the decrease the withdrawal makes in the Contract Value. Pro Rata Adjustments are made for amounts withdrawn for partial surrenders and any associated negative MVAs and surrender charges (which shall be deemed to be amounts anamount withdrawn) but not for any contract fee-related surrenders. The death benefit will equal the greatest of (1), (2), or (3):) below:
Appears in 1 contract
Samples: Individual Mva (Variable Account D of Fortis Benefits Insurance Co)
