Variable Contract means those variable life insurance policies and variable annuity contracts identified in Section 1 of the Compensation Schedule attached hereto, and as may hereafter be amended. Insurer may in its sole discretion and without notice to Broker-Dealer, suspend sales of any Variable Contracts or amend any policies or contracts evidencing such Variable Contracts if, in Insurer's opinion, such suspension or amendment is: (1) necessary for compliance with federal, state, or local laws, regulations, or administrative order(s); or, (2) necessary to prevent administrative or financial hardship to Insurer. In all other situations, Insurer shall provide 30 days notice to Broker-Dealer prior to suspending sales of any Variable Contracts or amending any policies or contracts evidencing such Variable Contracts. Insurer may issue and propose additional or successor products, in which event Broker-Dealer will be informed of the product and its related Commission Schedule. If Broker-Dealer does not agree to distribute such product(s), it must notify Insurer in writing within 30 days of receipt of the Commission Schedule for such product(s). If Broker-Dealer does not indicate disapproval of the new product(s) or the terms contained in the related Commission Schedule, Broker-Dealer will be deemed to have thereby agreed to distribute such product(s) and agreed to the related Commission Schedule which shall be attached to and made a part of this Agreement.
Variable Contract means a policy or contract that provides life insurance or annuity benefits that may vary according to the investment experience of any separate account or accounts maintained by the insurer as to the policy or contract, as provided for in Sections 31A-5-217 and 31A-18-102.
Variable Contract means those variable life insurance policies and variable annuity contracts identified in Section 1 of the Compensation Schedule attached hereto, and as may hereafter be amended. Insurer may in its sole discretion and without notice to Broker Dealer, suspend sales of any Variable Contracts or amend any policies or contracts evidencing such Variable Contracts if, in Insurer's opinion, such suspension or amendment is: (1) necessary for compliance with federal, state, or local laws, regulations, or administrative order(s); or, (2) necessary to prevent administrative or financial hardship to Insurer. In all other situations, Insurer shall provide 30 days notice to Broker Dealer prior to suspending sales of any Variable Contracts or amending any policies or contracts evidencing such Variable Contracts. Insurer may issue and propose additional or successor products, in which event Broker Dealer will be informed of the product and its related Commission Schedule. If Broker Dealer does not agree to distribute such product (s), it must notify Insurer in writing within 30 days of receipt of the Commission Schedule for such product(s). If Broker Dealer does not indicate disapproval of the new product(s) or the terms contained in the related Commission Schedule, Broker Dealer will be deemed to have thereby agreed to distribute such product(s) and agreed to the related Commission Schedule which shall be attached to and made a part of this Agreement.
Examples of Variable Contract in a sentence
The responsibility to take such remedial action shall be carried out with a view only to the interests of the Variable Contract owners.
These responsibilities will be carried out with a view only to the interests of the Variable Contract owners.
In the case of the Lord Abbett Series Fund, Inc., shares of the Growth and Income Portfolio shall be divided into Variable Contract Class shares (Class VC shares) and Class P shares and shares of all other Portfolios shall be comprised of one class of shares as indicated on Schedule A, each of which shall also be known as Class VC shares of the respective Portfolio.
For the purposes of this Section, a majority of the Independent Trustees shall determine whether or not any proposed action adequately remedies any material irreconcilable conflict, but in no event will the Trust be required to establish a new funding medium for any Variable Contract.
LIFE COMPANY will provide TRUST on a semi-annual basis, or more frequently as reasonably requested by TRUST, with a current tabulation of the number of existing Variable Contract owners of LIFE COMPANY whose Variable Contract values are invested in TRUST.
More Definitions of Variable Contract
Variable Contract means any policy or contract that provides for life insurance or annuity benefits that vary according to the investment experience of any separate account or accounts maintained by the insurer as to that policy or contract, as provided for in Section 245.21 of the Code; or any policy or contract that is registered under the Securities Act of 1933, as amended (15 USC 77a et seq.), and that provides for benefits that vary according to the performance of an index, when the funds are not guaranteed as to principal or a stated rate of interest and in which the supporting assets are held and reported in a noninsulated separate account in which changes in asset values substantially match changes in contractual benefits from inception of the contract.
Variable Contract means a variable life insurance policy or variable annuity contract that qualifies for federal income tax purposes as both (i) either (A) a life insurance contract, including but not limited to a contract in compliance with Code Section 7702, or (B) an annuity contract, including, but not limited to, a contract in compliance with Code Sections 72(s), 72(u), 401(a)(9), 403(b), and 408(b), as applicable; and (ii) a variable contract under Code Section 817(d).
Variable Contract means variable annuity and/or variable life insurance contracts that use the Fund's shares as an underlying investment medium.
Variable Contract means a life insurance policy or an annuity contract that provides a benefit that may vary according to the investment experience of any separate account the insurer establishes and maintains under Sections 31A-5-217 and 31A-18- 102.
Variable Contract when used in this Regulation, shall mean any policy or contract, whether on an individual or group basis, which provides for insurance or annuity benefits which may vary according to the investment experience of any separate account or accounts maintained by the insurer as to such policy or contract, as provided for in 18 Del.C. §2932.
Variable Contract under applicable provisions of the Code and that it will make every effort to maintain such treatment and that it will notify the Fund immediately upon having a reasonable basis for believing that the Account or Contract has ceased to be so treated or that they might not be so treated in the future.
Variable Contract means those variable life insurance policies and variable annuity contracts issued by Insurer and identified in Section 1 of the Compensation Schedule attached hereto, and as may hereafter be amended. Insurer may in its sole discretion and without notice to Broker/Dealer, suspend sales of any Variable Contracts or amend any policies or contracts evidencing such Variable Contracts if, in Insurer's opinion, such suspension or amendment is: (1) necessary for compliance with federal, state, or local laws, regulations, or administrative order(s); or, (2) necessary to prevent administrative or financial hardship to Insurer. In all other situations, Insurer shall provide 30 days notice to Broker/Dealer prior to suspending sales of any Variable Contracts or amending any policies or contracts evidencing such Variable Contracts. Insurer may issue and propose additional or successor products, in which event Broker/Dealer will be informed of the product and its related Commission Schedule. If Broker/Dealer does not agree to distribute such product (s), it must notify Insurer in writing within 30 days of receipt of the Commission Schedule for such product(s). If Broker/Dealer does not indicate disapproval of the new product(s) or the terms contained in the related Commission Schedule, Broker/Dealer will be deemed to have thereby agreed to distribute such product(s) and agreed to the related Commission Schedule that shall be attached to and made a part of this Agreement.