Common use of Allocation Instructions Clause in Contracts

Allocation Instructions. Allocation Instructions are instructions In Writing that identify the Account(s) to which the Net Premium or Loan Repayment will be allocated. You may change the Allocation Instructions for future premium payments or Loan Repayments at any time by Written Request. A change will be effective as of the end of the Business Day on which such Written Request is received. Any requested change to the Allocation Instructions will affect the allocation of future premium payments and Loan Repayments but will not change the allocation of any previous payments. We reserve the right to impose a limit on the number and frequency of such changes. Transfers – You may transfer all or part of the Accumulated Value: · From the Variable Account(s) to the Fixed Account(s); · From the Fixed Account(s) to the Variable Account(s); and · From one Fixed Account to another Fixed Account, if applicable. If you want to transfer Variable Account Value to the Indexed Account(s), the Variable Account Value must first be transferred to the Designated Fixed Account. Then, on the next Segment Start Date, a transfer from the Designated Fixed Account, subject to the conditions provided in this Policy, will be transferred to the Indexed Account(s). You may not transfer value out of an Indexed Account before the end of the Segment Term. You may not transfer value to a Variable Account other than the money market variable account that we designate before the Free Look Transfer Date. No transfer may be made if the Policy is in a Grace Period and the required premium has not been paid. Allocation and Transfer Restrictions – We reserve the right to: · Limit allocations and/or transfers to the Indexed Account(s) as described in the Allocation Limitations for the Indexed Account(s) shown in the Policy Specifications; · Limit allocations and/or transfers to the Fixed Account(s) as described in the Allocation Limitations for the Fixed Account(s) shown in the Policy Specifications; · Limit the size of transfers so that each transfer is at least equal to the Minimum Transfer Amount, shown in the Policy Specifications; · Limit the frequency of transfers. However, transfers to an Indexed Account will not occur less frequently than as shown in the Policy Specifications (see Segment Start Dates); · Require that the remaining balance in the Investment Option(s) as a result of a transfer, be at least equal to the Remaining Balance Amount shown in the Policy Specifications; · Assess an Excess Transfer Charge for each transfer exceeding the Total Number of Transfers Permitted Per Calendar Year shown in the Policy Specifications; · Impose further restrictions to limit transfers between certain Accounts, including, but not limited to, the dollar amount, the number of transfers made during a defined period, and the method used to submit transfers; · Otherwise waive or reduce any or all restrictions, uniformly to all members of the same Class, on transfers described in this section; · Revoke any waiver or reduction, uniformly to all members of the same Class; and · Terminate transfer privileges at any time. Transfers between the Fixed Account(s) and the Variable Account(s) are also subject to the conditions in the Policy Specifications for each Fixed Account. We reserve the right to allocate any excess allocations and/or transfers over such limits to the other Account(s) according to the most recent Allocation Instructions on record. If instructions have not been received, any excess will be allocated to a money market Variable Account, or a successor Account, identified by us for such purposes. Allocations include Net Premium payments and Loan Repayments. You may contact us to find out what allocation and/or transfer restrictions are in effect at any time.