LOAN VALUE. The Loan Value is equal to (a) less (b) less (c) where: (a) is 90% of the Policy Value on the date of the loan; (b) is 90% of the surrender charge that would be applicable on the date of the loan; and (c) is existing Policy Debt.
Appears in 4 contracts
Sources: Individual Flexible Premium Variable Adjustable Life Insurance Policy (Northwestern Mutual Variable Life Account II), Life Insurance Policy (Northwestern Mutual Variable Life Account II), Life Insurance Policy (Northwestern Mutual Variable Life Account II)
LOAN VALUE. The Loan Value is equal to (a) less (b) less (c) where:
(a) is 90% of the Policy Value on the date of the loan;
(b) is 90% of the surrender charge that would be applicable on the date of the loan; and
(cb) is existing Policy Debt.
Appears in 1 contract
Sources: Life Insurance Policy (Northwestern Mutual Variable Life Account II)