SEPARATE ACCOUNT CHARGES Sample Clauses

SEPARATE ACCOUNT CHARGES. There are three charges which are imposed by Minnesota Mutual on the assets of the Separate Account. They are the mortality risk charge, the expense risk charge and the administrative charge. These charges are deducted on each Valuation Date from the assets of the Separate Account. The mortality risk charge is for the mortality guarantees Minnesota Mutual makes under the contract. Actual mortality results incurred by Minnesota Mutual shall not adversely affect any payments or values under this contract. On an annual basis, this charge shall not exceed .60% of the net asset value of the Separate Account. The expense risk charge is for the guarantee that the deductions provided in this contract will be sufficient to cover its expenses. Actual expense results incurred by Minnesota Mutual shall not adversely affect any payments or values under this contract. On an annual basis, this charge shall not exceed .65% of the net asset value of the Separate Account. The administrative charge is designed to cover the administrative expenses incurred by Minnesota Mutual under this contract. On an annual basis, this charge shall not exceed .40% of the net asset value of the Separate Account.
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Related to SEPARATE ACCOUNT CHARGES

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