CHARGE DEDUCTION DIVISION Clause Samples
The Charge Deduction Division clause establishes how charges or deductions are to be allocated or divided among parties involved in an agreement. Typically, this clause outlines the method for calculating each party's share of any fees, costs, or deductions, such as administrative expenses or service charges, that arise under the contract. By clearly specifying the division of such charges, the clause helps prevent disputes and ensures transparency in financial dealings between the parties.
CHARGE DEDUCTION DIVISION. All charges against the Accumulation Value in this Contract will be deducted from the [Liquid Asset Division]. GA-IA-1042-01/98 3E/2 THE SCHEDULE INCOME PLAN FACTORS ------------------------------------------------------------------------- ------------------------------------------------------------------------- | Annuitant Owner | | [▇▇▇▇▇▇ ▇. ▇▇▇] [▇▇▇▇ ▇. ▇▇▇] | | | ------------------------------------------------------------------------- | Initial Premium Annuity Option Annuity Commencement | | Date | | [$25,000] [LIFE 10-YEAR [JANUARY 1, 2028] | | CERTAIN] | ------------------------------------------------------------------------- | Separate Account(s) Contract Number | | [SEPARATE ACCOUNT B AND THE FIXED [123456] | | ACCOUNT] | ------------------------------------------------------------------------- Values for other payment periods, ages or joint life combinations are available on request. Monthly payments are shown for each $1,000 applied. TABLE FOR INCOME FOR A FIXED PERIOD Fixed Fixed Fixed Period Monthly Period Monthly Period Monthly of Years Income of Years Income of Years Income TABLE FOR INCOME FOR LIFE Male/Female Male/Female Male/Female Age 10 Years 20 Years Refund Certain Certain Certain [50 $4.06/3.83 $3.96/3.77 $3.93/3.75 55 4.43/4.14 4.25/4.05 4.25/4.03 60 4.90/4.56 4.57/4.37 4.66/4.40 65 5.51/5.10 4.90/4.73 5.12/4.83 70 6.26/5.81 5.18/5.07 5.76/5.42 75 7.11/6.70 5.38/5.33 6.58/6.19 80 7.99/7.70 5.48/5.46 7.69/7.21 85 8.72/8.59 5.52/5.51 8.72/8.59 90 9.23/9.18 5.53/5.53 10.63/10.53 ] GA-IA-1042-01/98 3F IMPORTANT TERMS ------------------------------------------------------------------------- ACCUMULATION VALUE - The amount that a Contract provides for investment at any time. Initially, this amount is equal to the premium paid.
CHARGE DEDUCTION DIVISION. All charges against the Accumulation Value in this Contract will be deducted from the [Liquid Asset Division].