ACCUMULATED VALUE. On the Contract Date, the Accumulated Value is equal to the Net Premium(s) received plus any interest earned on premiums for this contract held in the General Account less the Monthly Deduction(s) made on that date. On any later date that this contract is not in the grace period, the Accumulated Value of this contract is the sum of the accumulated values for this contract in the subaccounts and the Loan Account (see Section 8.
Appears in 2 contracts
Sources: Variable Life Insurance Contract (Lbvip Variable Insurance Account), Variable Life Insurance Agreement (Lb Variable Insurance Account I)
ACCUMULATED VALUE. On the Contract Date, the Accumulated Value is equal to the Net Premium(s) received Premium(s)received plus any interest earned on premiums for this contract held in the General Account general account less the Monthly Deduction(s) made on that date. On any later date that this contract is not in the grace period, the Accumulated Value of this contract is equal to the sum of the accumulated values for this contract in the subaccounts and the Loan Account (see Section 8.
Appears in 1 contract
Sources: Variable Life Insurance Contract (Lbvip Variable Insurance Account)