The Death Benefit Guarantee Premium Requirement is met Sample Clauses

The Death Benefit Guarantee Premium Requirement is met. On any Monthly Anniversary, this requirement is met if the sum of premiums paid less any Partial Surrenders and any unpaid contract loans is greater than or equal to the sum of Death Benefit Guarantee Premiums from the Date of Issue through that Monthly Anniversary. However, if the Death Benefit Guarantee Premium Requirement is not met on a Monthly Anniversary but the Cash Surrender Value less any unearned interest is greater than or equal to the sum of Death Benefit Guarantee Premiums from the Date of Issue through that Monthly Anniversary, then the sum of premiums paid as used above will be deemed to increase to the amount necessary to meet the Death Benefit Guarantee Premium Requirement. In addition, a portion of any Partial Surrender or contract loan may be excluded when determining if the Death Benefit Guarantee Premium Requirement is met. The amount excluded is calculated on the date of the Partial Surrender or contract loan and is equal to the lesser of: a) The amount of Partial Surrender or unpaid contract loan; and b) The excess, if any, of the Cash Surrender Value less unearned interest on any unpaid contract loans over the greater of (i) and (ii) where: i) Is the sum of premiums paid less the amount of any Partial Surrenders and unpaid contract loans not previously excluded when determining if the Death Benefit Guarantee Premium Requirement was met; and ii) Is the sum of Death Benefit Guarantee Premiums from the Date of Issue through the Monthly Anniversary on or next after the date of Partial Surrender or contract loan.
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