Premium Taxes Sample Clauses
The Premium Taxes clause defines which party is responsible for paying any taxes, fees, or assessments imposed by governmental authorities on insurance premiums. Typically, this clause specifies whether the insurer or the policyholder must pay these taxes, and may outline the process for remitting such payments. Its core practical function is to allocate financial responsibility for premium-related taxes, thereby preventing disputes and ensuring compliance with tax regulations.
Premium Taxes. If premium taxes are incurred, they will be deducted from the contract accumulation, to the extent permitted by law.
Premium Taxes. The Reinsurer will not be liable for premium taxes.
Premium Taxes. From the Contract Value, we will deduct a charge for any taxes we pay that are attributable to Purchase Payments or Withdrawals. Such taxes may include, but are not limited to: any federal, state or local premium or retaliatory taxes; and any federal, state or local income, excise, business or any other type of tax (or component thereof), measured by or based upon, directly or indirectly, the amount of Purchase Payments we receive from you. We will normally deduct this charge upon annuitization. However, we may impose this charge on any Withdrawal, at the time any Death Benefit is paid, when the taxes are incurred or when we pay the taxes. We will base this charge on the Contract Value, the amount of the transaction, the aggregate amount of Purchase Payments we receive under the Contract; or any other amount that, in our sole discretion, we deem appropriately reimburses us for Premium Taxes paid on this Contract. Other Taxes — We reserve the right to charge the Separate Account and/or deduct from the Contract Value a charge for any federal, state or local taxes we pay that are or become attributable to the Separate Account or Contract, including, but not limited to, income taxes attributable to our operation of the Separate Account or to our operations with respect to the Contract, or taxes attributable, directly or indirectly, to Purchase Payments or payments we make under this Contract. Withdrawal Charge — Withdrawals from the Contract Value are subject to a Withdrawal Charge, if applicable. This charge may apply to amounts withdrawn under the Contract prior to the Annuity Date, depending on which Contract Year the Withdrawal is made in. We will not apply the Withdrawal Charge on: · [Compliant Withdrawal amounts allowable on Rider;] · distributions resulting from the death of the first Owner, except as provided under the Death of Owner provision for certain Non-Natural Owners; · after the first Contract Year, if the Contract is annuitized with us; · [Withdrawals after 90 days from the Contract Date if the Owner, or Annuitant in the case of a Non-Natural Owner, is in an accredited nursing home for 30 days or longer and was not in a nursing home on the Contract Date. This is referred to as a Nursing Home Confinement Waiver in the Contract Specifications. If this Contract is terminated in accordance with its provisions, the termination shall not prejudice this waiver of Withdrawal Charge while it is in force;] · [Withdrawals that meet required minimum distr...
Premium Taxes. The Reinsurer shall not reimburse the Ceding Company for any premium taxes.
Premium Taxes. The Company may deduct Premium Taxes incurred from Purchase Payments received.
Premium Taxes. You will not reimburse us for premium taxes for reinsurance ceded under this Agreement.
Premium Taxes. For each Monthly Accounting Period, the Parties shall cooperate and provide the other with information regarding Allocated Premium Taxes which is reasonably necessary to calculate the Monthly Net Settlement.
Premium Taxes. Premium taxes are not reimbursed.
Premium Taxes. From the Contract Value, we will deduct a charge for any taxes we pay that are attributable to Purchase Payments or withdrawals. Such taxes may include, but are not limited to: any federal, state or local premium or retaliatory taxes; and any federal, state or local income, excise, business or any other type of tax (or component thereof), measured by or based upon, directly or indirectly, the amount of Purchase Payments we receive from you. We will normally deduct this charge upon annuitization. However, we may impose this charge on any withdrawal, at the time any death benefit is paid, when the taxes are incurred or when we pay the taxes. We will base this charge on the Contract Value, the amount of the transaction, the aggregate amount of Purchase Payments we receive under the Contract; or any other amount that, in our sole discretion, we deem appropriately reimburses us for premium taxes paid on this Contract.
Premium Taxes. The Reinsurer will reimburse the Reinsured for any applicable premium taxes incurred that are directly attributable to the reinsured HD7 benefit riders.