CONTRACT ADMINISTRATION CHARGE definition

CONTRACT ADMINISTRATION CHARGE. The charge specified on the Contract Data Page will be deducted on each Contract anniversary that occurs on or prior to the Annuity Date. It will also be deducted when the Contract Value is withdrawn in full if withdrawal is not on a Contract anniversary. We reserve the right to assess a charge on a class basis which is less than the charge specified on the Contract Data Page. CONTINGENT DEFERRED SALES CHARGE This charge may be deducted upon withdrawal of the Contract Value, in whole or in part. See WITHDRAWAL PROVISIONS.
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CONTRACT ADMINISTRATION CHARGE has the meaning set forth in Section 3.08.
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CONTRACT ADMINISTRATION CHARGE. An annual contract administration charge of $25 is charged against each contract. This charge reimburses us for expenses incurred in establishing and maintaining records relating to a contract. The contract administration charge will be assessed on each contract anniversary that occurs on or prior to the annuity date. It is not assessed once annuity payments have started. In the even that the contract is surrendered, this charge will be deducted in full as of the date of surrender without proration. "transfers and transfer fee" You may transfer amounts between subaccounts prior to the annuity date. We reserve the right to impose a $25 transfer fee on the second transfer within a calendar month, and to impose a minimum size on transfer amounts.
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Examples of CONTRACT ADMINISTRATION CHARGE in a sentence

  • We will deduct the following charges from the Certificate: CONTRACT ADMINISTRATION CHARGE The charge specified on the Certificate Data Page will be deducted on each Certificate anniversary that occurs on or prior to the Annuity Date.

  • CONTRACT ADMINISTRATION CHARGE ------------------------------------------------------------------------------- On each Valuation Date we will deduct from the Accumulation Unit Value a Contract Administration Charge equal to a percentage of such value that is the daily equivalent of an effective annual rate of .15%.

  • CHARGES AND DEDUCTIONS We will deduct the following charges from the Contract: CONTRACT ADMINISTRATION CHARGE The charge specified on the Contract Data Page will be deducted on each Contract anniversary that occurs on or prior to the Annuity Date.

  • CONTRACT ADMINISTRATION CHARGE On each Valuation Date we will deduct from the Accumulation Unit Value a Contract Administration Charge equal to a percentage of such value that is the daily equivalent of an effective annual rate of .15%.

  • CONTRACT ADMINISTRATION CHARGE On each Valuation Date we will deduct from the Accumulation Unit Value a Contract Administration Charge equal to a percentage of such value that is the daily equivalent of an effective annual rate of .10%.

  • CONTRACT ADMINISTRATION CHARGE Prior to the annuity payout date, on each contract anniversary and upon surrender, we will deduct from the contract value an annual contract administration charge of $35 to defray our administrative expenses for this contract if the contract value at that time is less than $50,000.

  • SCHEDULE OF ANNUAL CHARGES Annual Contract Administration Charge* $40, or 2% of the Variable Account Value, whichever is less Asset Based Contract Administration Charge** .15% Mortality & Expense Risk Charge** 1.45% Date Annual Charges are deducted each year: May 1 *THE CONTRACT ADMINISTRATION CHARGE APPLIES EACH YEAR THERE IS A VARIABLE ACCOUNT VALUE WHICH IS LESS THAN $100,000.


More Definitions of CONTRACT ADMINISTRATION CHARGE

CONTRACT ADMINISTRATION CHARGE. The charge specified on the Contract Data Page will be deducted on each Contract anniversary that occurs on or prior to the Annuity Date. It will also be deducted when the Contract Value is withdrawn in full if the withdrawal is not on the Contract anniversary. We reserve the right to assess a charge on a class basis which is less than the charge specified on the Contract Data Page. This charge is not deducted when the Contract Value is greater than $50,000. SEPARATE ACCOUNT CHARGE This charge, as shown on the Contract Data Page, on an annualized basis equals a percentage of the average daily ending value of the assets attributable to the Accumulation Units of the Subaccount(s) to which the Contract is allocated. This charge compensates Us for mortality and expense risks and distribution expenses associated with the Contract. We subtract this charge daily. We reserve the right to assess a charge on a class basis which is less than the charge specified on the Contract Data Page. TRANSFER PROVISIONS Prior to the Annuity Date, You may transfer all or part of Your Contract Value from any Subaccount to any of the Subaccounts or Fixed Account Options subject to certain restrictions. The minimum amount that can be transferred is $100 and the minimum amount that can remain in a Subaccount or a Fixed Account Option is $100, or $0 in the case of a full transfer. TRANSFERS OF ACCUMULATION AND ANNUITY UNITS BETWEEN SUBACCOUNTS Prior to and after the Annuity Date, You may transfer all or a portion of Your Contract Value from one Subaccount to another Subaccount. Before the Annuity Date, a transfer will result in the redemption of Accumulation Units in a Subaccount and the purchase of Accumulation Units in the other Subaccount(s). Transfers will be effected at the end of the NYSE business day in which We receive Your completed request for the transfer. After the Annuity Date, a transfer will result in the redemption of Annuity Units in a Subaccount and the purchase of Annuity Units in the other Subaccount(s). Transfers will be effected at the end of the NYSE business day on the first day of the month following receipt of the transfer request.
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