MONTHLY DEDUCTION definition
MONTHLY DEDUCTION. The monthly deduction for each policy month shall be calculated as:
MONTHLY DEDUCTION. The "Monthly Deduction" is the total amount of deduction taken from the Accumulation Value on each Monthly Processing Date and includes the initial Policy charge (during the first 12 months), the Monthly Administrative Charge, the cost of insurance charge and any charges for additional benefits provided by riders.
MONTHLY DEDUCTION is a monthly deduction made from the Policy Account Value. This deduction includes the Cost of Insurance, an administrative expense charge and charges for supplemental riders or benefits, if applicable (See PART 4 POLICY VALUES PROVISIONS). The first Monthly Deduction is made as of the Issue Date. Monthly Deductions will be made thereafter on each Monthly Anniversary Day. "MORTALITY AND EXPENSE RISK (M&E)" is a daily charge assessed by us during each Valuation Period for the assumption of mortality and expense risks. This charge is expressed as a percentage of the value of the Variable Sub-Account(s). The annual -------------------------------------------------------------------------------- VL-2020AA(01/00) Page 4 -------------------------------------------------------------------------------- effective M&E rate is shown in the Policy Schedule. "NET POLICY ACCOUNT VALUE" is the Policy Account Value less the Loan Account value.
Examples of MONTHLY DEDUCTION in a sentence
MONTHLY DEDUCTION ADJUSTMENT AT DEATH The portion of any Monthly Deduction made for a period beyond the date of the Last Death will be added to the policy proceeds.
MONTHLY DEDUCTION On the first day of each policy month, whether or not premiums are paid, the Company will make a Monthly Deduction for that policy month from the Cash Value of this Policy.
MONTHLY DEDUCTION The Monthly Deduction due on a Monthly Policy Date shall be the Monthly Cost of Insurance) plus the Monthly Administrative Charge Per Thousand Dollars of Face Amount) plus the Monthly Policy Fee) plus the monthly cost of any additional benefit riders in force on this policy.
ACCUMULATED VALUES DEPEND ON INVESTMENT PERFORMANCE OF THE VARIABLE ACCOUNT AND, EXCEPT AS PROVIDED IN SECTION 4.6, COVERAGE WILL TERMINATE IF THE CASH SURRENDER VALUE IS LESS THAN THE MONTHLY DEDUCTION REQUIRED.
RATES FOR WAIVER OF PREMIUM DISABILITY BENEFIT OR WAIVER OF MONTHLY DEDUCTION Waiver Benefits will be coinsured.
More Definitions of MONTHLY DEDUCTION
MONTHLY DEDUCTION means a charge made under this policy each month against the policy's cash value. The charge is equal to:
MONTHLY DEDUCTION. A Monthly Deduction for a policy month is due on each Monthly Payment Date prior to the Insured’s Age 100 and is equal to the sum of the following: · the Cost of Insurance Charge; · the Mortality and Expense Risk Charge; · the Administrative Charge; and · rider or benefit charges, if any. Unless you have made a Written Request to the contrary, the Monthly Deduction will be charged proportionately to the Accumulated Value in each Investment Option. Beginning at Age 100, there is no Monthly Deduction whatsoever.
MONTHLY DEDUCTION means, in relation to each Policy Month,
MONTHLY DEDUCTION. A monthly charge we deduct from the Accumulation Value.
MONTHLY DEDUCTION. A Monthly Deduction for a policy month is due on each Monthly Payment Date prior to the younger Insured's Age 100 and is equal to the sum of the following items:
MONTHLY DEDUCTION. A Monthly Deduction for a policy month is due on each Monthly Payment Date and is equal to the sum of the following items: • the monthly Cost of Insurance Charge; • the M&E Risk Charge; • the Administrative Charge; and • rider or benefit charges, if any. Unless you have made a Written Request to the contrary, the Monthly Deduction will be charged on the Monthly Payment Date proportionately to the Accumulated Value in each Investment Option. Cost of Insurance Charge – Beginning on the Policy date and monthly thereafter, there will be a monthly Cost of Insurance Charge for the death benefit payable under this policy equal to (1) multiplied by (2), with the result divided by 1000, where:
MONTHLY DEDUCTION. A Monthly Deduction for a policy month is due on each Monthly Payment Date prior to the younger Insured's age 100 and is equal to the sum of the following items: . the monthly Cost of Insurance Charge; . the M&E Risk Charge; . the Administrative Charge; and . rider or benefit charges, if any. Unless you have made a Written Request to the contrary, the Monthly Deduction will be charged on the Monthly Payment Date proportionately to the Accumulated Value in each Investment Option. Cost of Insurance Charge - Beginning on the Policy Date and monthly thereafter, there will be a monthly Cost of Insurance Charge for the death benefit payable under this policy equal to (1) multiplied by (2) with the result divided by 1000, where: