Common use of POLICY VALUE Clause in Contracts

POLICY VALUE. On the issue date or, if later, the date the first premium is received, the policy value is the net premium less the monthly deduction for the first policy month. On any other day, the policy value is the sum of the values in each subaccount, plus the value of the fixed account and the loan account. On each valuation date, the value in a subaccount is:

POLICY VALUE. On the issue date or, if later, the date the first premium is received, the policy value is the net premium less the monthly deduction for the first policy month. On any other day, the policy value is the sum of the values in each subaccount, plus the value of the fixed account and the loan account. On each valuation date, the value in a subaccount is:

POLICY VALUE. On the issue date or, if later, the date the first premium is received, the policy value is the net premium less the monthly deduction for the first policy month. On any other day, the policy value is the sum of the values in each subaccount, plus the value of the fixed account and the loan account. On each valuation date, the policy value in a subaccount is:

POLICY VALUE. On the issue date or, if later, the date the first premium is received, the policy value is the net premium less the monthly deduction for the first policy month. On any other day, the policy value is the sum of the values in each subaccountsub-account, plus the value of the fixed account and the loan account. The minimum policy value is zero. On each valuation date, the value in a subaccount sub-account is:

POLICY VALUE. On the issue date or, if later, the date the first premium is received, the policy value is the net premium less the monthly deduction for the first policy month. On any other day, the policy value is the sum of the values in each subaccountsub-account, plus the value of the fixed account and the loan account. On each valuation date, the value in a subaccount sub-account is: