Risk Charge definition
Risk Charge. We impose a Risk Charge against the assets held in the Variable Investment Option(s). This charge is assessed daily at the annual rate which is shown in the Contract Specifications. The Risk Charge compensates us for the risks we assume that mortality and expenses will vary from those we assumed. This charge is guaranteed not to increase.
Risk Charge. We impose a Risk Charge against the assets held in the Variable Investment Option(s). This charge is assessed daily at the annual rate which is shown in the Contract Specifications. The Risk Charge compensates us for the risks we assume that mortality and expenses will vary from those we assumed. This charge is guaranteed not to increase. Premium Taxes – From the Contract Value, we will deduct a charge for any taxes we pay that are attributable to Purchase Payments or withdrawals. Such taxes may include, but are not limited to: any federal, state or local premium or retaliatory taxes; and any federal, state or local income, excise, business or any other type of tax (or component thereof), measured by or based upon, directly or indirectly, the amount of Purchase Payments we receive from you. We will normally deduct this charge when you annuitize. However, we may impose this charge on any withdrawal, at the time any death benefit is paid, when the taxes are incurred or when we pay the taxes. We will base this charge on the Contract Value, the amount of the transaction, the aggregate amount of Purchase Payments we receive under the Contract; or any other amount that, in our sole discretion, we deem appropriate. Other Taxes – We reserve the right to charge the Separate Account and/or deduct from the Contract Value a charge for any federal, state or local taxes we pay that are or become attributable to the Separate Account or Contract, including, but not limited to, income taxes attributable to our operation of the Separate Account or to our operations with respect to the Contract, or taxes attributable, directly or indirectly, to Purchase Payments or payments we make under this Contract. Contingent Deferred Sales Charge (“Withdrawal Charge”) – Purchase Payments are subject to a withdrawal charge which is shown in the Contract Specifications. This charge may apply to amounts withdrawn under the Contract prior to the Annuity Date, depending on the length of time each Purchase Payment has been allocated to the Contract and on the amount withdrawn. We will not apply the withdrawal charge on: • distributions resulting from the death of the first Owner or the sole surviving Annuitant before the Annuity Date, except as provided under the Death of Owner provision for certain Non-Natural Owners; • Contract Values converted to an Annuity Option after the first Contract Anniversary; • withdrawals to meet required minimum distributions for Qualified Contracts as they appl...
Risk Charge means the percentage of the administrative expense allowed in the contract for assuming
Examples of Risk Charge in a sentence
Each Risk Charge shall be withdrawn by the Ceding Company from the applicable Separate Account on a quarterly basis; provided, that the Quota Share of each Risk Charge may be withdrawn from the applicable Separate Account and transferred to the Reinsurer.
More Definitions of Risk Charge
Risk Charge shall have the meaning specified in Section 5.03.
Risk Charge shall have the meaning specified in Section 5.03. “SA Modco Sub-Account” shall have the meaning specified in Section 8.01(a). “SAP” shall mean the statutory accounting principles and practices prescribed or permitted for Iowa life insurance companies by the Iowa Insurance Division. “Separate Accounts” shall mean the insulated separate accounts established by the Ceding Company to support the Ceding Company’s payment obligations with respect to the Index-Linked Deferred Annuity Policies. “Statutory Carrying Value” shall mean, with respect to any assets maintained by the Ceding Company in the Modco Sub-Accounts, as of the relevant date of determination, the amount permitted to be carried by the Ceding Company as an admitted asset consistent with SAP. “Statutory Reserves” shall mean the net statutory reserves in respect of the Reinsured Policies (for the avoidance of doubt, determined after giving effect to the reinsurance provided under the Third Party Reinsurance Agreements), which shall be calculated in good faith on a seriatim basis by the Ceding Company in accordance with SAP; provided, however, that “Statutory Reserves” shall not include any (a) Asset Valuation Reserve, (b) Interest Maintenance Reserve or (c) any other reserve not directly attributable to specific Reinsured Policies. For the avoidance of doubt, “Statutory Reserves” shall not include any cash flow testing reserves.
Risk Charge means the portion of the CHIP Premium Administrative Expense Amount allowed in the Contract for assuming the risk. For purposes of the CHIP Interim Premium, the Risk Charge is the amount of $2.50 per enrollee per month and is included in and part of the $15.00 per enrollee per month CHIP Premium Administrative Expense Amount. In the event that the CHIP Final Premium is greater than the CHIP Interim Premium, the CHIP Final Premium will include a CHIP Premium Administrative Expense Amount per enrollee per month that is equal to 12% of the CHIP Final Premium and such CHIP Premium Administrative Expense Amount per enrollee per month will include a Risk Charge per enrollee per month that is equal to 2% of the CHIP Final Premium.
Risk Charge. Equal on an annual basis to 1.25% of the average daily net asset value of the Separate Account
Risk Charge. [The current charge is equal on an annual basis to 1.25% of the average daily net asset value of the Separate Account.] ADMINISTRATIVE CHARGE: [The current charge is equal on an annual basis to ..15% of the average daily net asset value of the Separate Account. The maximum Administrative Charge will not exceed .25% of the average daily net asset value of the Separate Account.]
Risk Charge. We impose a Risk Charge against the assets held in the Variable Investment Option(s). This charge is assessed daily at the annual rate which is shown in the Contract Specifications. The Risk Charge compensates us for the risks we assume that mortality and expenses will vary from those we assumed. This charge is guaranteed not to increase. Premium Taxes – From the Contract Value, we will deduct a charge for any taxes we pay that are attributable to Purchase Payments or withdrawals. Such taxes may include, but are not limited to: any federal, state or local premium or retaliatory taxes; and any federal, state or local income, excise, business or any other type of tax (or component thereof), measured by or based upon, directly or indirectly, the amount of Purchase Payments we receive from you. We will normally deduct this charge upon annuitization. However, we may impose this charge on any withdrawal, at the time any death benefit is paid, when the taxes are incurred or when we pay the taxes. We will base this charge on the Contract Value, the amount of the transaction, the aggregate amount of Purchase Payments we receive under the Contract; or any other amount that, in our sole discretion, we deem appropriately reimburses us for premium taxes paid on this Contract. Other Taxes – We reserve the right to charge the Separate Account and/or deduct from the Contract Value a charge for any federal, state or local taxes we pay that are or become attributable to the Separate Account or Contract, including, but not limited to, income taxes attributable to our operation of the Separate Account or to our operations with respect to the Contract, or taxes attributable, directly or indirectly, to Purchase Payments or payments we make under this Contract. ICC12:10-1225 13
Risk Charge is defined in Article VII - Risk Charge.