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 This charge may apply to amounts withdrawn under the Contract prior to the Annuity Date, depending on the length of time each Purchase Payment has been allocated to the Contract and on the amount withdrawn.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...
Examples of Risk Charge in a sentence
The Risk Charge will be deducted from the Experience Refund, if any.
A typical contract might contain one or more of the following types of charges: Percentage of Premium Charge, Contract Fee, Transaction Fee, Mortality & Expense Risk Charge, and Surrender Charge.
More Definitions of Risk Charge
Risk Charge. During the Accumulation Phase, the mortality and expense risk charge is equal on an annual basis to [1.40%] of the average daily net assets of the Variable Account. During the Annuity Phase, the mortality and expense risk charge is equal on an annual basis to [1.40%] of the average daily net assets of the Variable Account.
Risk Charge. Equal on an annual basis to 1.25% 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. Annual Fee - We charge an annual fee against the Contract Value on each Contract Anniversary prior to the Annuity Date, and at the time you withdraw the entire Net Contract Value (on a prorated basis for the current Contract Year). The annual fee is shown in the Contract Specifications. This fee is guaranteed not to increase. The annual fee is waived if the Net Contract Value is $50,000 or more on the day the annual fee is assessed. We will not impose the annual fee on amounts applied to provide an annuity or on payment of the death benefit proceeds.
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. [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 is defined in Article VII - Risk Charge.
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.