NET AMOUNT AT RISK. GMDB AND EPB ------------
NET AMOUNT AT RISK. The term “Net Amount-at-Risk” (hereinafter “NAR”) shall be defined as the total proceeds of the Policy(ies) less the cash value of the Policy(ies).
NET AMOUNT AT RISK. The policy risk amount reinsured under this Agreement is the net amount at risk, which is determined as of the issue date and each subsequent policy anniversary and is defined as the death benefit minus the contract fund.
NET AMOUNT AT RISK. A. The reinsured Net Amount At Risk at issue is defined as the policy face amount less the amount retained by the Ceding Company, and for automatic policies, multiplied by the Reinsurer’s share as stated in Schedule A. After issue, any change in the policy Net Amount At Risk due to changes in the policy’s account value will be allocated proportionally between Ceding Company and Reinsurer based on the retention and the reinsured Net Amount At Risk at issue. For universal life plans, the Net Amount At Risk is calculated using the account value in effect at the policy anniversary.
NET AMOUNT AT RISK. A. The IBNAR (Income Benefit Net Amount at Risk) for each variable annuity contract reinsured hereunder shall be equal to the following: IBNAR = Maximum [( IBB * ( MAPR / SAPR ) - Account Value), 0] * REINSURER's Quota Share Percentage where: - The INCOME BENEFIT BASE (IBB) is as defined in Schedule A - The MINIMUM ANNUITY PURCHASE RATE (MAPR) per $1000 is calculated using the following assumptions: Mortality Table: [*] Age Setback: None Mortality Improvement: [*] Unisex Blend: Montana: [*]/[*] All other states: Sex distinct only Interest Rate: [*] all years Expenses: None Premium Taxes: Applied by state of residence and market Age: Attained age nearest birthday on exercise date Frequency of Payment: Monthly or quarterly or annually Annuity Form: Limited to a Life Annuity with a 10 Year Period Certain or Joint and Survivor Life Annuity with 20 Year Period Certain. For qualified plans: period certain to meet IRS requirement. - The SETTLEMENT ANNUITY PURCHASE RATE (SAPR) per $1000, which is used at time of annuitization for reinsurance claims settlement, is calculated using the following assumptions: Mortality Table: [*] Age Setback: None Mortality Improvement: [*] Unisex Blend: [*] All other states: Sex distinct only Interest Rate: [*] minus [*] That interest rate shall never be less than [*] If there is Manufacturers Life of N.A., Agreement No. 2001-48 (GMIB) Page 4 Effective July 1, 2001
NET AMOUNT AT RISK. The Net Amount at Risk on the policies and riders eligible for reinsurance under this Agreement, is defined below: OPTION A BASE POLICY: The Net Amount at Risk is the Death Benefit minus the Policy Value, where the Death Benefit is the greater of the Face Amount or the minimum amount required under Section 7702 of the IRC.
NET AMOUNT AT RISK. A. The MNAR (Mortality Net Amount at Risk) for each variable annuity contract reinsured hereunder shall be equal to the following: MNAR = (VNAR + VSCNAR + FSCNAR + EEMNAR) where: - VNAR (Variable Net Amount at Risk) = Maximum (a, b) * REINSURER's Quota Share Percentage where: a = (GMDB Contractual Death Benefit - Account Value) b = 0 - VSCNAR (Variable Account Surrender Charge Net Amount at Risk) = - One-half (1/2) * (Surrender Charges allocated to Variable Account) * REINSURER's Quota Share Percentage for issue ages 0-79 - 0 for issue ages 80-85 - FSCNAR (Fixed Account Surrender Charge Net Amount at Risk) = - One-half (1/2) * (Surrender Charges allocated to Fixed Account) * REINSURER's Quota Share Percentage for issue ages 0-79 - 0 for issue ages 80-85 The surrender charge will be allocated to the Variable Account and the Fixed Account in proportion to the Variable Account value and the Fixed Account value at the end of the month. - EEMNAR (Earnings Enhancement Mortality Net Amount at Risk) = X% * Max (a, b) * REINSURER's Quota Share Percentage where: X % varies by issue age as described under the EEB Contractual Death Benefit Reinsured section of Schedule A a = (Account Value - Total Purchase Payments Not Withdrawn), but no greater than total purchase payments not withdrawn b = 0
NET AMOUNT AT RISK. A. The MNAR (Mortality Net Amount at Risk) for each variable annuity policy form reinsured hereunder, by issue age, shall be equal to the following: [redacted] where: - VNAR (Variable Net Amount at Risk) = [redacted]: - [redacted] SCNAR (Surrender Charge Net Amount at Risk) = [redacted] EEMNAR (Earnings Enhancement Mortality Net Amount at Risk) = [redacted]
NET AMOUNT AT RISK. The policy net amount at risk is equal to the excess of the death benefit over the contract fund. The net amount at risk retained and the net amount at risk reinsured under this Agreement are in proportion to the portion of the policy amount retained and the portion of the policy amount reinsured under this Agreement. Changes in the net amount at risk can be the result of increases, as well as decreases in the face amount. These changes can also result from changes in the contract fund, i.e., changes due to unit value fluctuations, the assessment of contract fees and charges, the crediting of interest and the addition or withdrawal of funds. Changes in the net amount at risk can also result from changes in the death benefit needed to meet the definition of life insurance once a policy enters the “corridor”. Y-MPVUL-2003-TOLIC (PRUCO’S 50%) – PLAZ 3/21/2007
NET AMOUNT AT RISK. Life reinsurance under this Agreement will be on the Yearly Renewable Term plan for the Amount at Risk. We will maintain a level retention in all years, and you will absorb any increase or decrease in the amount at risk for any policy. Calculation of the Net Amount at Risk for Joint and Last Survivorship Plans is outlined in this Exhibit C.
