Chargeable Premium definition

Chargeable Premium. Each Net Premium that is subject to a Contingent Deferred Sales Charge less the amount of any withdrawal attributable to that premium on which we assessed a Contingent Deferred Sales Charge.
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Examples of Chargeable Premium in a sentence

  • The charge is equal to the amount of each Chargeable Premium involved in the transaction during the [7] years following our receipt of that Chargeable Premium multiplied by the applicable percentage in the table below.

  • If you make a withdrawal or surrender the contract, we may assess a Contingent Deferred Sales Charge against each Chargeable Premium involved in the transaction according to the schedule of Contingent Deferred Sales Charges shown on the Contract Data page.

  • Any amounts withdrawn as a Free Withdrawal Amount will not reduce the total Net Premiums used to calculate earnings; and • from Chargeable Premiums on a first-in-first-out basis, that is, any Chargeable Premium withdrawn is deemed to have come first from the oldest Chargeable Premium.

  • We calculate the Contingent Deferred Sales Charge separately for each Chargeable Premium withdrawn.

  • The Contingent Deferred Sales Charge upon a surrender of this contract is equal to the Contingent Deferred Sales Charge percentage applicable to each Chargeable Premium as shown on the Contract Data page multiplied by that Chargeable Premium.

  • The Surrender Charge upon a surrender of this contract is equal to the Surrender Charge percentage applicable to each Chargeable Premium as shown on the Contract Data page multiplied by that Chargeable Premium.

  • We will not assess a Surrender Charge or reduce the Chargeable Premium for amounts withdrawn from earnings or, at the time of the withdrawal, on any Free Withdrawal Amount.

  • However, any amounts withdrawn pursuant to the Free Withdrawal Amount will not reduce the total Net Premiums used to calculate earnings; • from Net Premiums that are no longer subject to a Contingent Deferred Sales Charge; • from any applicable Free Withdrawal Amount; and • from Chargeable Premiums on a first-in-first-out basis, that is, any Chargeable Premium withdrawn is deemed to have come first from the oldest Chargeable Premium.

  • Earnings that are withdrawn or premiums that are no longer subject to a Surrender Charge or are part of a Free Withdrawal Amount that are withdrawn will not reduce the Chargeable Premium.

  • We calculate the Surrender Charge separately for each Chargeable Premium withdrawn.