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 which is equivalent, on an annual basis, to the amount shown on the Contract Data pages. The amount of the Insurance Charge is based on whether you have elected the GMDB. FIXED RATE INVESTMENT OPTION
Examples of Insurance Charge in a sentence
MONTHLY INSURANCE CHARGE FOR THIS RIDER While this rider is in force, a Monthly Cost of Insurance Charge for this coverage will be included in the Monthly Deduction to the Policy Value.
A CONTRACT'S ASSET-BASED INSURANCE CHARGE MAY BE HIGHER OR LOWER THAN ANOTHER CONTRACT'S ASSET-BASED INSURANCE CHARGE OR MORTALITY AND EXPENSE RISK CHARGE.
THIS CREDIT, WHEN APPLIED, EFFECTIVELY REDUCES THE LEVEL OF ASSET-BASED INSURANCE CHARGE.
MISSTATEMENT OF IF THERE IS A MISSTATEMENT OF AGE OR SEX FOR EITHER INSURED IN THE APPLICATIONS, AGE OR SEX AND THE AMOUNT OF THE DEATH BENEFIT WILL BE THAT WHICH WOULD BE PURCHASED BY THE MOST CORRECTIONS RECENT MONTHLY COST OF INSURANCE CHARGE AT THE CORRECT AGE OR SEX.
MISSTATEMENT OF IF THERE IS A MISSTATEMENT OF AGE OR SEX IN THE APPLICATION, THE AMOUNT OF THE AGE OR SEX AND DEATH BENEFIT WILL BE THAT WHICH WOULD BE PURCHASED BY THE MOST RECENT MONTHLY CORRECTIONS COST OF INSURANCE CHARGE AT THE CORRECT AGE OR SEX.
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 .00367395%, which is equivalent to an annual rate of 1.35%.
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. 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 either, and your death benefit is equal to the base death benefit as described in the GMDB section of the contract. [ ] You have not elected the GMDB feature. Therefore, the daily rate is 0.00380909%, which is equivalent to an annual rate of 1.40%. [ ] You have elected the GMDB feature and the GMDB Protected Value option of the Step-Up. Therefore, the daily rate is 0.00434896%, which is equivalent to an annual rate of 1.60%.
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.
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. The amount of the Insurance Charge is based on whether you have elected the GMDB. DCA FIXED RATE INVESTMENT OPTION DCA PROGRAM: If a DCA Program is elected, you may allocate all or part of your Invested Purchase Payments to the DCA Fixed Rate Investment Option ("DCA Option"). The DCA Program provides for a systematic transfer of the funds allocated to the DCA option on a periodic basis from the DCA Option to selected Variable Investment Options for a given number of payments. However, you may not transfer any Contract Value to the DCA Option from the other Allocation Options.