MORTALITY AND EXPENSE RISK CHARGE. Each Valuation Period, we deduct a Mortality and Expense Risk Charge from the Variable Account which is equal, on an annual basis, to the amount shown on the Contract Schedule. The Mortality and Expense Risk Charge compensates us for assuming the mortality and expense risks under this Contract.
MORTALITY AND EXPENSE RISK CHARGE. Each Valuation Period, the Company deducts a Mortality and Expense Risk Charge from the Separate Account which is equal, on an annual basis, to the amount shown on the Contract Schedule. The Mortality and Expense Risk Charge compensates the Company for assuming the mortality and expense risks under this Contract.
MORTALITY AND EXPENSE RISK CHARGE. Equal on an annual basis to [1.25%] of the average daily net assets of the Variable Account.
Examples of MORTALITY AND EXPENSE RISK CHARGE in a sentence
Annually MORTALITY AND EXPENSE RISK CHARGE: A charge equal to an effective annual rate of [1.25%] of the daily Net Asset Value of the Sub-Accounts.
MORTALITY AND EXPENSE RISK CHARGE: [1.35%] PER ANNUM OF THE DAILY SUB-ACCOUNTS VALUE.
MORTALITY AND EXPENSE RISK CHARGE - A charge deducted in the calculation of the Accumulation Unit value and the Annuity Unit value.
MORTALITY AND EXPENSE RISK CHARGE: [1.60%] PER ANNUM OF THE DAILY CONTRACT VALUE.
MORTALITY AND EXPENSE RISK CHARGE: 1.25% PER ANNUM OF THE AVERAGE DAILY CONTRACT VALUE.
More Definitions of MORTALITY AND EXPENSE RISK CHARGE
MORTALITY AND EXPENSE RISK CHARGE. [1.70%] PER ANNUM OF THE DAILY SUB-ACCOUNTS VALUE. ADMINISTRATION CHARGE: [0.25%] PER ANNUM OF THE DAILY SUB-ACCOUNTS VALUE. OPTIONAL DEATH BENEFIT CHARGE: [0.25%] PER ANNUM OF THE DAILY SUB-ACCOUNTS VALUE. CONTINGENT DEFERRED SALES CHARGES: SUBJECT TO THE ANNUAL WITHDRAWAL AMOUNT, SURRENDERS OF CONTRACT VALUES ATTRIBUTABLE TO PREMIUM PAYMENTS MAY BE MADE SUBJECT TO A CONTINGENT DEFERRED SALES CHARGE ("CHARGE"). THE LENGTH OF TIME FROM RECEIPT OF THE PREMIUM PAYMENT TO THE TIME OF SURRENDER DETERMINES THE CHARGE. DURING THE FIRST [THREE] CONTRACT YEARS FOR PURPOSES OF CALCULATING THE CONTINGENT DEFERRED SALES CHARGES, ALL SURRENDERS WILL BE FIRST FROM PREMIUM PAYMENTS AND THEN FROM EARNINGS. IF AN AMOUNT EQUAL TO ALL PREMIUM PAYMENTS HAS BEEN SURRENDERED, A CHARGE WILL NOT BE ASSESSED AGAINST THE SURRENDER OF THE REMAINING CONTRACT VALUE. AFTER THE [THIRD] CONTRACT YEAR, ALL SURRENDERS WILL FIRST BE FROM EARNINGS AND THEN FROM PREMIUM PAYMENTS. A CHARGE WILL NOT BE ASSESSED AGAINST THE SURRENDER OF EARNINGS. IF AN AMOUNT EQUAL TO ALL EARNINGS HAS BEEN SURRENDERED, A CHARGE WILL NOT BE ASSESSED AGAINST PREMIUM PAYMENTS RECEIVED MORE THAN [THREE] YEARS PRIOR TO SURRENDER, BUT WILL BE ASSESSED AGAINST PREMIUM PAYMENTS RECEIVED LESS THAN [THREE] YEARS PRIOR TO SURRENDER. FOR THIS PURPOSE, PREMIUM PAYMENTS WILL BE DEEMED TO BE SURRENDERED IN THE ORDER IN WHICH THEY WERE RECEIVED. THE CHARGE IS A PERCENTAGE OF THE AMOUNT SURRENDERED (NOT TO EXCEED THE AGGREGATE AMOUNT OF THE PREMIUM PAYMENTS MADE) AND EQUALS: LENGTH OF TIME FROM PREMIUM PAYMENTS CHARGE (NUMBER OF YEARS) [9% 1 9% 2 9% 3 9% 4 8% 5 7% 6 7% 7 6% 8 5% 9 0 10 AND THEREAFTER] NO CONTINGENT DEFERRED SALES CHARGE WILL BE ASSESSED IF: - THE CONTRACT TERMINATES DUE TO THE DEATH OF THE ANNUITANT OR CONTRACT OWNER (AS APPLICABLE), - ELIGIBILITY REQUIREMENTS ARE MET FOR THE WAIVER OF SURRENDER CHARGE, - ONLY THE ANNUAL WITHDRAWAL AMOUNT IS TAKEN, OR - AN ANNUITY OPTION IS ELECTED. (ANY SURRENDER OUT OF OPTION 6 MAY BE SUBJECT TO CONTINGENT DEFERRED SALES CHARGES.)
MORTALITY AND EXPENSE RISK CHARGE. During the Accumulation Period, the mortality and expense risk charge is equal on an annual basis to [1.50%] of the average daily net assets of the Variable Account. During the Annuity Period, the mortality and expense risk charge is equal on an annual basis to [1.50%] of the average daily net assets of the Variable Account. We may decrease this charge, but we may not increase it.
MORTALITY AND EXPENSE RISK CHARGE. This charge is imposed to compensate LL&A for its assumption of mortality and expense risks under this Contract. This charge is shown on an annualized basis in Section 1.6 and is deducted on a daily basis as described in Section 5.4. Form No.: GAC 96-101 (NY) 15
MORTALITY AND EXPENSE RISK CHARGE. [Equivalent on an annual basis to 1.30% of the average daily net asset value of the Variable Account. Cova may increase this charge but it will never be greater than 1.50%.]
MORTALITY AND EXPENSE RISK CHARGE. [Equal, on an annual basis, to 1.15% of the average daily net asset value of the Variable Account. The Company may increase this charge; however, the maximum Mortality and Expense Risk Charge will not exceed 1.25% of the average daily net asset value of the Variable Account. In the event of an increase, the Company will give Certificate Owners 90 days prior notice of the increase.] ADMINISTRATIVE CHARGE: [Equal, on an annual basis, to .15% of the average daily net asset value of the Variable Account. The Company may increase this charge; however, the maximum Administrative Charge will not exceed .25% of the average daily net asset value of the Variable Account. In the event of an increase, the Company will give Certificate Owners 90 days prior notice of the increase.]
MORTALITY AND EXPENSE RISK CHARGE. A charge deducted in the calculation of the Accumulation Unit value and the Annuity Unit value. It is for our assumption of mortality risks and expense guarantees. The charge is shown on the Contract Schedule.
MORTALITY AND EXPENSE RISK CHARGE. {1.10%} per annum prior to the Annuity Commencement Date, and {1.10%} per annum on or after the Annuity Commencement Date. ADMINISTRATION CHARGE: {0.15%} per annum. TRANSFER FEE: {$25} per transfer in excess of 12 transfers per Certificate in any Contract Year. SURRENDER CHARGE NUMBER OF FULL YEARS ELAPSED BETWEEN SURRENDER CHARGE PERCENTAGE THE DATE PURCHASE PAYMENT WAS ACCEPTED AND THE DATE OF SURRENDER 0 {7%} 1 {6%} 2 {6%} 3 {5%} 4 {4%} 5 {3%} 6 {2%} 7+ {0%} ALLOCATION OPTIONS AVAILABLE ON THE EFFECTIVE DATE {PROTECTIVE LIFE GUARANTEED ACCOUNT} {Fixed Account} {DCA Fixed Account 1} {DCA Fixed Account 2} {XXXXXXX} {Social Small Cap Growth} {Social Balanced} {XXXXXXX XXXXX/PIC} {International Equity} {Small Cap Value} {XXX XXX} {Capital Growth} {Worldwide Hard Assets} {CORE U.S. Equity} {Worldwide Real Estate} {Growth and Income} {Global Income} {MASSACHUSETTS FINANCIAL SERVICES (MFS)} {New Discovery} {Emerging Growth} {Research} {Growth With Income} {Utilities} {Total Return} {Growth Series} {OPPENHEIMERFUNDS} {Aggressive Growth} {Global Securities} {Capital Appreciation} {Main Street Growth & Income} {High Income} {Strategic Bond} {Money Fund} {XXX XXXXXX LIFE INVESTMENT TRUST} {Emerging Growth} {Enterprise} {Xxxxxxxx} {Growth and Income} {Strategic Stock} {Asset Allocation} TABLE OF CONTENTS DEFINITIONS ............................................................... 7