Annual Rider Charge definition

Annual Rider Charge. The Annual Rider Charge of [1.40%], subject to a maximum charge of [2.25%], of the greater of Contract Value or Benefit Base is deducted quarterly from Contract Values allocated to the Variable Account. The Annual Rider Charge may increase, subject to the maximum charge shown above, at the time of a Benefit Base Reset.
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Annual Rider Charge. The Annual Rider Charge of [1.50%], subject to a maximum charge of [2.25%], of the greater of Contract Value or Benefit Base is deducted quarterly from Contract Values allocated to the Variable Account. The Annual Rider Charge may increase, subject to the maximum charge shown above, at the time of a Benefit Base Reset. Enhancement Period: [8] Contract Years following the Rider Effective Date. Enhancement Rate: [6.00%] Continuation Factor: [50.00%] Annual Income Percentage: Age Annual Income Benefit Base Maximum: [None] Maximum Additional Purchase [$25,000] Payments: Contract Value Allocation: While this rider is in effect, the full Contract Value must be allocated to an allocation plan approved by us for use with this rider. ICC20-70561 Minnesota Life 1 Definitions Benefit Base The value that is used to determine the amount of Guaranteed Annual Income (GAI) available for withdrawal under this rider. In no event will the Benefit Base exceed the Benefit Base Maximum as shown in the Rider Specifications. Benefit Base Enhancement The dollar amount added to the Benefit Base on any Contract Anniversary during the Enhancement Period when there are no withdrawals in the prior Contract Year. Benefit Base Reset The Benefit Base is reset on any Contract Anniversary where the Contract Value is greater than the Benefit Base after application of the Benefit Base Enhancement, if any. The Benefit Base will increase to the Contract Value, but will not exceed the Benefit Base Maximum. The Benefit Base will continue to be eligible for an increase due to a Benefit Base Reset on each Contract Anniversary until a Benefit Base Reset is declined as described in the Annual Rider Charge section. Continuation Date The Contract Anniversary following the first date we receive either a) due proof of death of a Designated Life, or b) your Written Request to remove a Designated Life due to divorce. Continuation Factor The factor applied to the Guaranteed Annual Income on the Continuation Date. Designated Life The person listed in the Rider Specifications whose lifetime, along with the Joint Designated Life, will be used to determine the benefits under this rider. The Designated Life is the Owner of the contract. If the Owner of the contract is other than a natural person, such as a trust or other similar entity, the Designated Life is the Annuitant. A Designated Life may be removed due to divorce but otherwise may not be added or changed after the Rider Effective Date. Enhancement Base T...
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Annual Rider Charge. The Annual Rider Charge of 1.5%, subject to a maximum charge of 2.25%, of the greater of Contract Value or Benefit Base is deducted quarterly from Contract Values allocated to the Variable Account. The Annual Rider Charge may increase, subject to the maximum charge shown above, at the time of a Benefit Base Reset. Annual Income Percentage (AIP): Age AIP Age AIP Age AIP 55 2.80 % 65 4.55 % 75 5.05 % 56 2.90 % 66 4.60 % 76 5.15 % 57 3.00 % 67 4.65 % 77 5.25 % 58 3.10 % 68 4.70 % 78 5.35 % 59 3.25 % 69 4.75 % 79 5.45 % 60 3.40 % 70 4.80 % 80 5.55 % 61 3.55 % 71 4.85 % 81 5.60 % 62 3.65 % 72 4.85 % 82 5.65 % 63 3.75 % 73 4.90 % 83 5.70 % 64 3.85 % 74 4.95 % 84 5.75 % 85+ 5.80 % Benefit Base Maximum: None Maximum Additional Purchase Payments: $25,000 Contract Value Allocation: While this rider is in effect, the full Contract Value must be allocated to an allocation plan approved by us for use with this rider. ICC20-70593 Minnesota Life 1 The value that is used to determine the amount of Guaranteed Annual Income (GAI) available for withdrawal under this rider. In no event will the Benefit Base exceed the Benefit Base Maximum as shown in the Rider Specifications.
Sample 1

Examples of Annual Rider Charge in a sentence

  • The Benefit Base will continue to be eligible for an increase due to a Benefit Base Reset on each Contract Anniversary until a Benefit Base Reset is declined as described in the Annual Rider Charge section.

  • The annual rider charge may increase at the time of a Benefit Base Reset as described under the Annual Rider Charge section.

  • The Initial Annual Rider Charge associated with your initial asset allocation model is shown on your Contract Data page.

  • The Annual Rider Charge will be discontinued upon termination of the rider as described in the Rider Termination section.

  • A proportionate amount of the Annual Rider Charge will be deducted upon termination of this rider or surrender of the contract.

  • The fee is calculated on your contract anniversary by multiplying the Annual Rider Charge by the greater of the anniversary contract value or the total RBA.

  • Once you notify us of your decision to decline the Annual Rider Charge increase, you will no longer be eligible for future Benefit Base increases.

  • For purposes of calculating the Annual Rider Charge, the greater of the Contract Value or the Benefit Base will be subject to the Benefit Base Maximum.

  • But it is as or more likely that the fines were set assuming deductibility or without considering federal tax consequences.

  • Beginning three months after the Rider Effective Date, and every three months thereafter, an amount equal to one quarter of the Annual Rider Charge will be multiplied by the greater of the Contract Value or the Benefit Base on the date of the charge.


More Definitions of Annual Rider Charge

Annual Rider Charge. The Annual Rider Charge of 1.5%, subject to a maximum charge of 2.25%, of the greater of Contract Value or Benefit Base is deducted quarterly from Contract Values allocated to the Variable Account. The Annual Rider Charge may increase, subject to the maximum charge shown above, at the time of a Benefit Base Reset. Annual Income Percentage (AIP): Age AIP Age AIP Age AIP Lifetime Income Percentage (LIP): Age LIP Age LIP Age LIP Benefit Base Maximum: None Maximum Additional Purchase Payments: $25,000 Contract Value Allocation: While this rider is in effect, the full Contract Value must be allocated to an allocation plan approved by us for use with this rider. ICC20-70594 Minnesota Life 1 The value that is used to determine the amount of Guaranteed Annual Income (GAI) available for withdrawal under this rider. In no event will the Benefit Base exceed the Benefit Base Maximum as shown in the Rider Specifications.
Sample 1
Annual Rider Charge. The Annual Rider Charge of 1.5%, subject to a maximum charge of 2.25%, of the greater of Contract Value or Benefit Base is deducted quarterly from Contract Values allocated to the Variable Account. The Annual Rider Charge may increase, subject to the maximum charge shown above, at the time of a Benefit Base Reset. Annual Income Percentage (AIP): Age AIP Age AIP Age AIP 55 3.95 % 65 5.70 % 75 6.20 % 56 4.05 % 66 5.75 % 76 6.30 % 57 4.15 % 67 5.80 % 77 6.40 % 58 4.25 % 68 5.85 % 78 6.50 % 59 4.40 % 69 5.90 % 79 6.60 % 60 4.55 % 70 5.95 % 80 6.70 % 61 4.70 % 71 6.00 % 81 6.75 % 62 4.80 % 72 6.00 % 82 6.80 % 63 4.90 % 73 6.05 % 83 6.85 % 64 5.00 % 74 6.10 % 84 6.90 % 85 + 6.95 % Lifetime Income Percentage (LIP): Age LIP Age LIP Age LIP 55 2.50 % 65 3.50 % 75 3.50 % 56 2.50 % 66 3.50 % 76 3.50 % 57 2.50 % 67 3.50 % 77 3.50 % 58 2.50 % 68 3.50 % 78 3.50 % 59 2.50 % 69 3.50 % 79 3.50 % 60 3.00 % 70 3.50 % 80 3.50 % 61 3.00 % 71 3.50 % 81 3.50 % 62 3.00 % 72 3.50 % 82 3.50 % 63 3.00 % 73 3.50 % 83 3.50 % 64 3.00 % 74 3.50 % 84 3.50 % 85 + 3.50 % Benefit Base Maximum: None Maximum Additional Purchase Payments: $25,000 Contract Value Allocation: While this rider is in effect, the full Contract Value must be allocated to an allocation plan approved by us for use with this rider. ICC20-70592 Minnesota Life 1 The value that is used to determine the amount of Guaranteed Annual Income (GAI) available for withdrawal under this rider. In no event will the Benefit Base exceed the Benefit Base Maximum as shown in the Rider Specifications.
Sample 1
Annual Rider Charge. The Annual Rider Charge of 1.5%, subject to a maximum charge of 2.25%, of the greater of Contract Value or Benefit Base is deducted quarterly from Contract Values allocated to the Variable Account. The Annual Rider Charge may increase, subject to the maximum charge shown above, at the time of a Benefit Base Reset. Annual Income Percentage (AIP): Age AIP Age AIP Age AIP Benefit Base Maximum: None Maximum Additional Purchase Payments: $25,000 Contract Value Allocation: While this rider is in effect, the full Contract Value must be allocated to an allocation plan approved by us for use with this rider. ICC20-70593 Minnesota Life 1 The value that is used to determine the amount of Guaranteed Annual Income (GAI) available for withdrawal under this rider. In no event will the Benefit Base exceed the Benefit Base Maximum as shown in the Rider Specifications.
Sample 1
Annual Rider Charge. The Annual Rider Charge of 1.50%, subject to a maximum charge of 1.50%, of the greater of Contract Value or Benefit Base is deducted quarterly from Contract Values allocated to the Variable Account. The Annual Rider Charge may increase, subject to the maximum charge shown above, at the time of a Benefit Base Reset. Enhancement Period: 12 Contract Years following the Rider Effective Date. Enhancement Rate: Contract Anniversary 1-4 5.00% Contract Anniversary 5-8 10.00% Contract Anniversary 9-12 15.00% Annual Income Percentage: Age Annual Income Percentage Benefit Base Maximum: None Maximum Additional Purchase Payments: $25,000 Contract Value Allocation: While this rider is in effect, the full Contract Value must be allocated to an allocation plan approved by us for use with this rider. ICC20-70596 Minnesota Life 1 The value that is used to determine the amount of Guaranteed Annual Income (GAI) available for withdrawal under this rider. In no event will the Benefit Base exceed the Benefit Base Maximum as shown in the Rider Specifications.
Sample 1

Related to Annual Rider Charge

  • User charge means a charge imposed on airlines for the provision of airport, air navigation, or aviation security facilities or services including related services and facilities.

  • Adviser Charge : means the fee agreed with your financial adviser in remuneration for the personal recommendation received prior to submission of an Application Form.

  • User Charges means a charge made to airlines by a service provider for the provision of airport, airport environmental, air navigation and aviation security facilities and services.

  • Annual Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Issuer and its Subsidiaries.

  • Room charge means the charge imposed for the use or occupancy of a room, excluding charges for food, beverages, state use tax, telephone service, or like services paid in connection with the charge, and excluding reimbursement of the assessment imposed by this act.

  • Surrender Charge means a charge levied on the Fund Value at the time of surrender of the Policy.

  • Water Charges means service charges in respect of the provision of water.

  • Transition charge means a nonbypassable rate or charge to be imposed on a customer to pay the customer's share of transition costs.

  • Service Charge means the amount charged for making a service available on line and is in addition to the actual fee for a service itself. For example, one who renews a license on line will pay the license renewal fee and a service charge.

  • Termination Charge means a charge levied when an unamortized balance remains and the Jurisdiction requests termination of Street Lighting Service. The charge is determined by costs of equipment, installation, removal, disposal, Capital Recovery Period, and Utility Financing Cost minus payments made to date for the specific fixtures.

  • Minimum Charge means the higher of the rate minimum and the rate applied to the Contracted Minimum Demand;

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • RUNNING CHARGE PER KILOMETER means the rates payable against each KM run. and shall be deemed to include all the expenditures of the Transport Supplier viz., cost of fuel, tyre/tube, battery & consumables like lubricants etc. and other maintenance expenditures including accessories involved including GST element as applicable towards movement of the vehicle(s)/equipment.

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Monthly Charge shall have the meaning set forth in Article 5.

  • Annual Special Tax means the Special Tax actually levied in any Fiscal Year on any Assessor’s Parcel.

  • Parking Charge means the charge paid by drivers to leave a vehicle in a parking place;

  • Early Termination Charge means, with respect to any 2019-B Lease that is terminated prior to its Maturity Date, an amount equal to the lesser of (a) the present value (discounted at the implicit rate of such 2019-B Lease) of all remaining Monthly Payments and (b) the excess, if any, of the adjusted 2019-B Lease balance over the related 2019-B Vehicle’s fair market wholesale value in accordance with accepted practices in the automobile industry (or by written agreement between the Servicer, on behalf of the Titling Trust, and the Lessee).

  • Other Charges means all ground rents, maintenance charges, impositions other than Taxes, and any other charges, including, without limitation, vault charges and license fees for the use of vaults, chutes and similar areas adjoining the Property, now or hereafter levied or assessed or imposed against the Property or any part thereof.

  • Energy Charge means a charge for each kilowatt-hour (kWh) of electrical energy;

  • Transition bond charge means a charge, expressed as an

  • AMPS Basic Maintenance Amount, as of any Valuation Date, means the dollar amount equal to (i) the sum of (A) the product of the number of shares of AMPS and Other AMPS Outstanding on such Valuation Date multiplied by the sum of (a) $25,000 and (b) any applicable redemption premium attributable to the designation of a Premium Call Period; (B) the aggregate amount of cash dividends (whether or not earned or declared) that will have accumulated for each share of AMPS and Other AMPS Outstanding, in each case, to (but not including) the end of the current Dividend Period that follows such Valuation Date in the event the then current Dividend Period will end within 49 calendar days of such Valuation Date or

  • Premium surcharge means a payment required from a subscriber, in addition to the subscriber's medical premium contribution, due to an enrollee's tobacco use or an enrolled subscriber's spouse or state registered domestic partner choosing not to enroll in their employer- based group medical when:

  • Bond Service Charges means principal, including mandatory sinking fund requirements for retirement of obligations, and interest, and redemption premium, if any, required to be paid by the authority on obligations.

  • Annual Turnover means the actual turnover achieved during your first year of operations, from the commencement of your business to the date of the damage, converted to a 12-month equivalent figure.

  • development charge means a charge imposed pursuant to this By-law;