Insurance Charge definition
Insurance Charge means the Percentage of the cost to the Landlord of effecting and maintaining the Insurance Policies including where relevant the cost of assessing any insured amounts and any sums payable to any Superior Landlord in respect of insurance maintained by it which shall include any expenses and valuation costs which the Superior Landlord is entitled to recover from the Landlord under the terms of the Superior Lease;
Insurance Charge. The Insurance Charge is assessed daily, based on an annualized rate, as shown in the Annuity Schedule and the Schedule Supplements of certain optional benefit riders we may make available. See the "Account Value" section of this Annuity for a description of how the Insurance Charge is deducted.
Insurance Charge. Each Business Day, we deduct an Insurance Charge from the Subaccounts of the Variable Separate Account. The amount of the Insurance Charge is based on whether you have elected the GMDB feature and, if so, on the GMDB Protected Value option that you elected.
Examples of Insurance Charge in a sentence
INSURANCE CHARGE: This charge depends on whether you have elected the Guaranteed Minimum Death Benefit ("GMDB") feature and, if so, which GMDB option you have elected.
COST OF INSURANCE CHARGE: SEE THE MONTHLY DEDUCTIONS SECTION OF THE POLICY VALUE PROVISION FOR DETAILS ON HOW THE COST OF INSURANCE CHARGE IS DETERMINED.
COST OF INSURANCE CHARGE The cost of insurance charge compensates us for the anticipated cost of paying the amount of the Death Benefit that exceeds your Accumulation Value upon the death of the Insured.
INSURANCE CHARGE: This charge depends on whether you have elected the Guaranteed Minimum Death Benefit ("GMDB") feature.
MINIMUM WITHDRAWAL AMOUNT: [$100] MINIMUM SURRENDER VALUE AFTER A PARTIAL WITHDRAWAL: [$2,000] MINIMUM INVESTMENT OPTION AMOUNT: [$50] INSURANCE CHARGE: [Assessed daily at an annualized rate of 1.75% until the Valuation Day coinciding with or next following the 9/th/ anniversary of the Issue Date.
More Definitions of Insurance Charge
Insurance Charge. This charge is deducted daily from the assets in each of the Subaccounts. The maximum daily charge is .00448376%, which is equivalent to an annual rate of 1.65%.
Insurance Charge. This charge depends on whether you have elected the Guaranteed Minimum Death Benefit ("GMDB") feature. This charge is deducted daily from the assets in each of the Subaccounts. If you do not elect the GMDB feature, you do not elect a GMDB Protected Value option, and your death benefit is equal to the base death benefit as described in the Guaranteed Minimum Death Benefit section of the Contract. [ ] You have not elected the GMDB feature. Therefore, the daily rate is 0.00407916%, which is equivalent to an annual rate of 1.50%. [ ] You have elected the GMDB feature and the GMDB Protected Value option of the GMDB Step-Up. Therefore, the daily rate is 0.00461849%, which is equivalent to an annual rate of 1.70%.
Insurance Charge means the cost of insuring the risk assumed by the person who advances or is to advance credit under an agreement or arrangement, where the face amount of the insurance does not exceed the credit advanced;
Insurance Charge means the charge for cost of insurance in providing the Death Benefit in accordance with Clause B.2(c);
Insurance Charge. Each Business Day, we deduct an Insurance Charge from the Subaccounts of the Variable Separate Account which is equivalent, on an annual basis, to the amount shown on the Contract Data pages. We deduct an annual Contract Maintenance Charge shown on the Contract Data pages. We determine your Contract Value as of your Contract Anniversary and make any deductions required on a pro-rata basis from all Allocation Options to which your Contract Value is allocated. If a total withdrawal is made on other than a Contract Anniversary, we will determine your Contract Value and make a deduction for the Contract Maintenance Charge the same as we would if it were a Contract Anniversary.
Insurance Charge means the reasonable and proper cost to the Landlord of effecting and maintaining the Insurance Policies including where relevant the reasonable and proper cost of assessing any insured amounts and any sums payable to any Superior Landlord in respect of insurance maintained by it;
Insurance Charge. We deduct this charge daily against the assets allocated to the Sub-accounts during the period(s) shown and at the levels indicated in the Schedule. The charge is deducted based upon the Annuity's Account Value in the Variable Separate Account. Any increases or decreases in such Account Value based on market fluctuations of the Sub-accounts will affect the charge. Therefore, a portion of the proceeds that we receive from the charge may include amounts based on market appreciation of the Sub-account values.