Common use of Coverage Charge Clause in Contracts

Coverage Charge. The Coverage Charge is the sum of the Coverage Charges for each Coverage Layer. The Coverage Charge for the initial Coverage Layer will not exceed the Basic Life Coverage Charge shown in the Policy Specifications. The Coverage Charge for any later Coverage Layer will not exceed the Basic Life Coverage Charge shown in the Supplemental Schedule of Coverage to be sent to you when the Coverage Layer is added. This charge is based on the Face Amount of the Coverage Layer as of its effective date. The Coverage Charge will not change even if the Face Amount of the associated Coverage Layer is increased or decreased.

Appears in 2 contracts

Sources: Insurance Policy (Pacific Select Exec Separate Acct Pacific Life Ins), Insurance Policy (Pacific Select Exec Separate Acct Pacific Life Ins)