MORTALITY RISK. CHARGE On an annual basis this charge equals 0.9% of the average daily total net asset value of the Variable Account. This charge is to compensate Us for assuming the mortality risks under the Contract.
MORTALITY RISK means the risk of fluctuations or deterioration of mortality experience causing increased claims on life insurance coverages;
MORTALITY RISK. CHARGE On an annual basis this charge equals 0.55% of the average daily total net asset value of the Variable Accounts. This charge is to compensate Us for assuming the mortality risks under the Certificate. TRANSFER PROVISION Prior to the Annuity Date, You may transfer all or part of Your Certificate Value to any of the Variable Accounts or the Fixed Account, subject to certain restrictions. We reserve the right to charge a fee for transfers if the number of transfers exceeds the limit specified by Us. Transfers will be effected at the end of the Valuation Period in which We receive Your request for the transfer. TRANSFERS OF ACCUMULATION UNITS BETWEEN VARIABLE ACCOUNTS Both prior to and after the Annuity Date, You may transfer all or a portion of Your investment in one Variable Account to another Variable Account. A transfer will result in the purchase of Accumulation Units in a Variable Account and the redemption of Accumulation Units in the other Variable Account. The minimum amount which can be transferred between Variable Accounts and the amount that can remain in the Variable Account is subject to Company limits. TRANSFERS OF ACCUMULATION UNITS TO AND FROM THE FIXED ACCOUNT Both prior to and after the Annuity Date, You may transfer all or any part of the Certificate Value from the Variable Account(s) to the Fixed Account of the Certificate. After the Annuity Date no transfers from the Fixed Account to the Variable Account are allowed. For transfers from the Fixed Account prior to the Annuity Date see ACCUMULATION PROVISIONS - FIXED ACCOUNT ACCUMULATION VALUE. During the Annuity Period, the amount transferred to the Fixed Account from a Variable Account will be equal to the annuity reserve for the Payee's interest in that Variable Account. The annuity reserve is the product of (a) multiplied by (b) multiplied by (c), where
Examples of MORTALITY RISK in a sentence
MORTALITY RISK CHARGE The Mortality Risk Charge pays us for assuming the mortality risk under this contract.
THESE CHARGES INCLUDE A DAILY CHARGE FOR FINANCIAL ACCOUNTING, DEATH BENEFITS, MORTALITY RISK, EXPENSES AND EXPENSE RISK, PLUS THE INVESTMENT ADVISORY FEE CHARGES AND DIRECT OPERATING EXPENSE CHARGES OF THE TRUST.
AGENCY, VALUING MORTALITY RISK REDUCTIONS FOR ENVIRONMENTAL POLICY: A WHITE PAPER 35–43 (2010), available at http://yosemite.epa.gov/ee/epa/eerm.nsf/vwAN/EE-0563-1.pdf/$file/EE-0563-1.pdf (examining hedonic wage studies used to determine VSL); Memorandum from Polly Trottenberg, Under Sec’y for Policy, U.S. Dep’t of Transp., & Robert Rivkin, Gen.
Mr. Sheehan distributed information regarding CMH’s budget to the Committee for their review.
THESE CHARGES INCLUDE A DAILY CHARGE FOR FINANCIAL ACCOUNTING, DEATH BENEFITS, MORTALITY RISK, EXPENSES AND EXPENSE RISK, PLUS THE INVESTMENT ADVISORY FEE CHARGE AND DIRECT OPERATING EXPENSE CHARGES OF THE TRUST.
More Definitions of MORTALITY RISK
MORTALITY RISK. CHARGE On an annual basis this charge equals 0.9% of the average daily total net asset value of the Variable Account. This charge is to compensate Us for assuming the mortality risks under the Certificate. GUARANTEED DEATH BENEFIT RISK CHARGE On an annual basis this charge equals 0.12% of the average daily total net asset value of the Variable Account. This charge is to compensate Us for the risk assumed as a result of contractual obligations to provide an enhanced minimum guaranteed Death Benefit prior to the Annuity Date. MARKET VALUE ADJUSTMENT See MARKET VALUE ADJUSTMENT section.
MORTALITY RISK. CHARGE On an annual basis this charge equals 0.9% of the average daily total net asset value of the Variable Account. This charge is to compensate Us for assuming the mortality risks under the Certificate. TRANSFER PROVISION Prior to the Annuity Date, You may transfer all or part of Your Certificate Value to any of the Variable Accounts or the Fixed Account, subject to certain restrictions. We reserve the right to charge a fee for transfers if the number of transfers exceeds the limit specified by Us. Transfers will be effected at the end of the Valuation Period in which We receive Your request for the transfer. TRANSFERS OF ACCUMULATION UNITS BETWEEN VARIABLE ACCOUNTS Both prior to and after the Annuity Date, You may transfer all or a portion of Your investment in one Variable Account to another Variable Account. A transfer will result in the purchase of Accumulation Units in a Variable Account and the redemption of Accumulation Units in the other Variable Account. The minimum amount which can be transferred between Variable Accounts and the amount that remain in the Variable Account is subject to Company limits.
MORTALITY RISK. CHARGE The Company assumes a "mortality risk" that variable annuity payments will not be affected by the death rates of persons receiving such payments or of the general population by virtue of annuity rates incorporated in the Contract which cannot by changed. For assuming this mortality risk, the Company deducts a Mortality Risk Charge through the daily unit value calculation, which is equal to an annual rate of 0.80%. BENEFICIARY PROVISIONS The Beneficiary and any Contingent Beneficiary are named in the application, unless changed. If the Beneficiary dies prior to the Annuitant, the Contingent Beneficiary becomes the Beneficiary. Unless the Owner has provided otherwise, when there are two or more Beneficiaries, they will receive equal shares. If there is no named Beneficiary or Contingent Beneficiary upon the Annuitant's death, the Owner (or the estate of the Owner, if the Annuitant is the Owner) will be deemed to be the Beneficiary. The Company may pay the commuted value of any remaining unpaid payments to the estate. CONTRACT OWNERSHIP The Owner has all rights under the Contract, unless otherwise provided. If the purchaser names someone other than himself as Owner, the purchaser would have no rights under the Contract. The Owner is the person named in the application, unless changed. The Annuitant, if someone other than the Owner, becomes the Owner on the Annuity Commencement Date. If the Owner dies, a Distribution will be made in accordance with the Death of Contract Owner provision, unless the recipient of the distribution is the Owner's spouse, in which case a Distribution may be paid or the Contract may continue, depending on the election of the surviving spouse.
MORTALITY RISK means the death benefit (exclusive of any Accidental Death Benefit Risk and inclusive of any Accelerated Death Benefit) under a Life Insurance Contract in excess of the account value of the Life Insurance Contract.
MORTALITY RISK. CHARGE The Company assumes a "mortality risk" that variable annuity payments will not be affected by the death rates of persons receiving such payments or of the general population by virtue of annuity rates incorporated in the Contract which cannot by changed. For assuming this mortality risk, the Company deducts a Mortality Risk Charge through the daily unit value calculation, which is equal to an annual rate of [0.80%]. BENEFICIARY PROVISIONS The Beneficiary and any Contingent Beneficiary are named in the application, unless changed. If the Beneficiary dies prior to the Annuitant, the Contingent Beneficiary becomes the Beneficiary. Unless the Owner has provided otherwise, when there are two or more Beneficiaries, they will receive equal shares. If there is no named Beneficiary or Contingent Beneficiary upon the Annuitant's death, the Owner (or the estate of the Owner, if the Annuitant is the Owner) will be deemed to be the Beneficiary. The Company may pay the commuted value of any remaining unpaid payments to the estate. Subject to the terms of any existing assignment, the Owner may name a new Beneficiary or a new Contingent Beneficiary at any time during the lifetime of the Annuitant. Any new choice of Beneficiary or Contingent Beneficiary will automatically revoke any prior choice of Beneficiary or Contingent Beneficiary. Any change must be made in writing and recorded at the Home Office. The change will become effective as of the date the written request is signed, whether or not the Annuitant is living at the time of recording. A new choice of Beneficiary or Contingent Beneficiary will not apply to any payment made or action taken by the Company prior to the time it was received. CONTRACT OWNERSHIP The Owner has all rights under the Contract, unless otherwise provided. If the purchaser names someone other than himself as Owner, the purchaser would have no rights under the Contract. The Owner is the person named in the application, unless changed. The Annuitant, if someone other than the Owner, becomes the Owner on the Annuity Commencement Date. If the Owner dies, a Distribution will be made in accordance with the Death of Contract Owner provision, unless the recipient of the Distribution is the Owner's spouse, in which case a Distribution may be paid or the Contract may continue, depending on the election of the surviving spouse. The Owner may name a new Owner at any time. Any new choice of Owner will automatically revoke any prior choice of Owner. ...
MORTALITY RISK. CHARGE, EXPENSE RISK AND ADMINISTRATION CHARGE The mortality risk portion of the Actuarial Risk Fee is to compensate the Company for its guarantee to provide Retirement Income Payments pursuant to the terms of this Contract, regardless of the duration of the Participant's life, as well as for the Company's guarantee to provide the death benefit in the event a Participant should die prior to the Retirement Commencement Date. The Administration and the Expense Risk portions of the Actuarial Risk Fee are to compensate the Company for the administration and other expenses associated with this Contract. PREMIUM TAXES To the extent that any taxes are assessed against the Company for Purchase Payments or the Contract Value the amount of any premium taxes levied by a state or any other governemental entity upon annuity considerations received by the Company, the Company may deduct such taxes from the Contract Owner's Contract Value either : (1) at the time the Contract is surrendered, (2) at Annuitization, or (3) at such earlier date as the Company may become subject to such taxes. The method used to recoup premium tax reserves will be determined by the Company at its sole discretion and in compliance with applicable state law.
MORTALITY RISK in relation to a policy means the risk that the person whose life is insured by the policy will die;