Contract Fund Value. The Contract Fund Value is the sum of the Investment Account and the NM Strength and Stability Account. At no time does the Contract Fund Value include Policy Debt. On the Policy Date the Contract Fund Value is equal to the Net Premium less the Monthly Policy Charge. On any day after the Policy Date, the Contract Fund Value is equal to what it was on the previous Valuation Date plus any of these items applicable for the current Valuation Date: • any increase due to investment results (as described in Section 8.6) for the portion of the Investment Account invested in Divisions with a positive rate of return for the current Valuation Period; • any increase due to interest credited (as described in Section 7.2) on the portion of the Contract Fund Value invested in the NM Strength and Stability Account since the previous Valuation Date. • any Net Premium; • any loan repayment and accrued loan interest payment; and • any dividend directed to increase the Contract Fund Value; less any of these items applicable for the current Valuation Date: • any decrease due to investment results (Section 8.6) for the portion of the Investment Account invested in Divisions with a negative rate of return for the current Valuation Period; • the Monthly Policy Charge (Section 8.4); • Policy loans (Section 10.1); • withdrawals (Section 10.5); and • service charges (Section 8.5). The Monthly Policy Charge, Policy loans, withdrawals, and service charges will be deducted from the Contract Fund Value. The Monthly Policy Charge and service charges will be deducted proportionately from the Divisions and the NM Strength and Stability Account. The Monthly Policy Charge and service charges deducted from the NM Strength and Stability Account will first be deducted from the Tier Two Balance, if any. Any portion of the Monthly Policy Charge and service charges deducted from the NM Strength and Stability Account and not deducted from the Tier Two Balance will be deducted from the Tier One Balance. Policy loans and withdrawals will be deducted as described in Sections 10.1 and 10.5.
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Samples: Northwestern Mutual Variable Life Account II, Northwestern Mutual Variable Life Account II, Northwestern Mutual Variable Life Account II
Contract Fund Value. The Contract Fund Value is the sum of the Investment Account and the NM Strength and Stability Account. At no time does the Contract Fund Value include Policy Debt. On the Policy Date the Contract Fund Value is equal to the Net Premium less the Monthly Policy Charge. On any day after the Policy Date, the Contract Fund Value is equal to what it was on the previous Valuation Date plus any of these items applicable for the current Valuation Date: • any increase due to investment results (as described in Section 8.6) for the portion of the Investment Account invested in Divisions with a positive rate of return for the current Valuation Period; • any increase due to interest credited (as described in Section 7.2) on the portion of the Contract Fund Value invested in the NM Strength and Stability Account since the previous Valuation Date. • any Net Premium; • any loan repayment and accrued loan interest payment; and • any dividend directed to increase the Contract Fund Value; less any of these items applicable for the current Valuation Date: • any decrease due to investment results (Section 8.6) for the portion of the Investment Account invested in Divisions with a negative rate of return for the current Valuation Period; • the Monthly Policy Charge (Section 8.4); • Policy loans (Section 10.1); • withdrawals (Section 10.5); and • service charges (Section 8.5). The Monthly Policy Charge, Policy loans, withdrawals, and service charges will be deducted from the Contract Fund Value. The Monthly Policy Charge and service charges will be deducted proportionately from the Divisions and the NM Strength and Stability Account. The Monthly Policy Charge and service charges deducted from the NM Strength and Stability Account will first be deducted from the Tier Two Balance, if any. Any portion of the Monthly Policy Charge and service charges deducted from the NM Strength and Stability Account and not deducted from the Tier Two Balance will be deducted from the Tier One Balance. Policy loans and withdrawals will be deducted as described in Sections 10.1 and 10.5.
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