Examples of Option Adjustment Amount in a sentence
If the Option Adjustment Amount becomes zero, any remaining and/or additional withdrawal amounts will result in a reduction in the Face Amount.
If the Death Benefit Option in effect at the time of the withdrawal is Option D (Decreasing Option), the withdrawal will result in a reduction in the Option Adjustment Amount, but the Option Adjustment Amount will not be allowed to become negative.
Thereafter, the Option Adjustment Amount will be reduced by any Withdrawals.
If the Death Benefit Option then in effect is Option D (Decreasing Option), the withdrawal will result in a reduction in the Option Adjustment Amount, but the Option Adjustment Amount will not be allowed to become negative.
The Option D Death Benefit is the current Face Amount increased by the lesser of: (a) the Account Value on the date We receive Due Proof of Death of the Insured; or (b) the Option Adjustment Amount.