Separate Account Charge. Equal on an annual basis to [1.60%] of the average daily net assets of the Variable Account.
Separate Account Charge. We will assess a daily Separate Account Charge from the Account Value in your Subaccounts that is equivalent to the annual amount stated on your Specifications Pages. This charge is for the mortality risk and expense risk we assume, administrative expense, distribution expense and other expenses, as well as for profit to the Company. We may increase or decrease the Separate Account Charge upon Prior Written Notice, but the charge will never exceed the Maximum Separate Account Charge stated on your Specifications Pages.
Separate Account Charge. Each Valuation Period, the Company deducts a Separate Account Charge from each Sub-Account of the Separate Account which are equal, on an annual basis, to the amounts shown on the Contract Schedule. The Separate Account Charge compensates the Company for assuming the mortality and expense risks under this Contract and the costs associated with the administration of this Contract and the Separate Account.
Examples of Separate Account Charge in a sentence
We will deduct the fee in addition to and in the same manner as We deduct the Separate Account Charge.
The Account Value is equal to the sum of your Premiums, minus partial withdrawals (adjusted for any Withdrawal Charges), adjusted for the net investment experience credited to or deducted from the Subaccounts, minus the daily deduction of the Separate Account Charge from the Subaccounts, plus interest credited to each Fixed Account, minus any applicable Contract Fee, Transfer Fees and Premium Tax.
The total expense charge currently being deducted as a Separate Account Charge on the Date of Issue of this Contract is 1.20%.
Amounts allocated to the Secure Value Account are not subject to the Separate Account Charge.
Optional Feature: If elected, there will be an additional fee added to the Separate Account Charge and the elected feature replaces the default 7-year withdrawal charge period in the Contract.
More Definitions of Separate Account Charge
Separate Account Charge. Annual Contract Maintenance Fee: [1.55%] $30.00
Separate Account Charge. Annual Contract Administration Charge: 1.52% $30.00
Separate Account Charge. Equal on an annual basis to [0 - 1.7] % of the daily net asset value of the Separate Account Separate Account: [Name of separate account] General Account: Minimum Guaranteed Interest Rate: 3% Free Withdrawal Percentage: [20%] Market Value Adjustment Factor: (1 + A)/5/ divided by (1 + B)/5/ Where A = the average 10 year Treasury Constant Maturity Series rate computed as an average of such rates as of the last business day of the last 60 complete calendar months or the number of complete months since the Contract issue if less, determined as of the time of the transaction. Where B = the 10 year Treasury Constant Maturity Series rate determined as of the last business day of the calendar month prior to the transaction. The market value adjustment may be either positive or negative. If the average 10 Year Treasury Constant Maturity Series interest rate (as defined above) is higher at the time of surrender or withdrawal than such rate at the time of issue, the adjustment will be downward. If the 10 Year Treasury Constant Maturity Series interest rate is lower at the time of surrender than such rate at issue, the adjustment will be upward. Any negative adjustment will be waived to the extent it decreases the surrender value below the minimum guaranteed rate of 3%.
Separate Account Charge. We deduct from the Separate Account each Business Day a Separate Account Charge which is shown on the Contract Schedule.
Separate Account Charge. Beneficiary: Separate Account: Optional Elections Optional Election Charges:
Separate Account Charge. ANNUAL CONTRACT MAINTENANCE FEE: [1.52%] $35.00 Of the above percentage, the charge for guaranteed death benefit risk is [0%-0.35%] SEPARATE ACCOUNT: [Variable Annuity Account Five] ( OPTIONAL ELECTIONS OPTIONAL ELECTION CHARGES: ) ( OPTIONAL DEATH BENEFIT ELECTED: ) ( Purchase Payment Accumulation See endorsement for applicable charge. ) WITHDRAWAL CHARGE SCHEDULE: Number of Full Years Elapsed Withdrawal Charge as a Between Purchase Payment Contribution Percentage of Withdrawn And Date of Withdrawal Purchase Payment ---------------------- ---------------- 0 7%
Separate Account Charge. Minimum Guarantee Rate 1.40% for Fixed Account Options: 1.50% Transfer Fee: Current Annual Contract Maintenance $25.00. Waived for systematic Fee: [$30.00] transfers (i.e. DCA, Systematic Withdrawals) and for the first 15 Maximum Annual Contract Maintenance transfers in any Contract Year. Fee: $30.00 Withdrawal Charge Schedule: -------------------------------------------------------------------------------- Number of Contribution Years Elapsed Between Withdrawal Charge as a Contribution Year of Purchase Payment and Percentage of Withdrawn Contribution Year of Withdrawal Purchase Payment -------------------------------------------------------------------------------- 1 7% -------------------------------------------------------------------------------- 2 6% -------------------------------------------------------------------------------- 3 5% -------------------------------------------------------------------------------- 4 4% -------------------------------------------------------------------------------- 5 3% -------------------------------------------------------------------------------- 6 2% -------------------------------------------------------------------------------- 7 1% -------------------------------------------------------------------------------- 8+ 0% --------------------------------------------------------------------------------