Common use of CONTRACT VALUE PROVISIONS Clause in Contracts

CONTRACT VALUE PROVISIONS. CONTRACT VALUE - Your Contract Value for any Business Day is the sum of your interests in the Subaccounts of the Separate Account (and your interests in any other account options that are included by Rider) as of such Business Day. The portion of your Contract Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract for that Subaccount by its Accumulation Unit Value. CHARGES AND FEES - We will deduct charges and fees from your Contract Value as described on the Contract Schedule (or in any applicable Rider). SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT - The Separate Account is designated on the Contract Schedule and consists of assets that are kept separate from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are invested in Portfolio(s). INVESTMENTS OF THE SEPARATE ACCOUNT - Purchase Payments applied to the Separate Account are allocated to the Subaccounts. We may, from time to time, add additional Portfolios to the Separate Account. You may be permitted to transfer all or a portion of your Contract Value to the Subaccounts that invest in the additional Portfolio(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. We can close, add or remove Portfolios as Subaccount investments as permitted by law. When a change is made, we will send you a revised prospectus for the Separate Account, which will describe all of the Portfolios then available under the Contract and/or any notice required by law. When a Portfolio is removed, we have the right to substitute a different Portfolio in which the Subaccount will then invest the value of the removed Portfolio.