Compound Basis definition
Compound Basis means that the benefit amounts in effect on the date of the increase will be multiplied by the appropriate percentage to determine the current benefit amounts.”]
Compound Basis means that the benefit amounts in effect on the date of the increase will be multiplied by 5% to determine the current benefit amounts. “Simple Basis” means, with respect to the Facility Care Maximum and benefit maximums other than the Policy Lifetime Maximum, that the amount of the increase will be determined by multiplying 5% times the Facility Care Maximum in effect on the anniversary date of your Coverage Effective Date next following your 66th birthday. This amount will be the amount of the increase that occurs on each anniversary thereafter while your coverage is in force. With respect to the Policy Lifetime Maximum, Simple Basis means that the amount of the increase will be determined by multiplying 5% times the Policy Lifetime Maximum in effect on the effective date of the increase. In calculating the amount of the increase, benefit payments will not be deducted. For additions to your benefit amounts that are not the result of this Rider, the amount of the increase will be determined separately.]
Compound Basis means that the benefit amounts in effect on the date of the increase will be multiplied by by the appropriate percentage based on Your age to determine the current benefit amounts: when younger than age 61, [3%, 5%]; after age 61, [but younger than age 76,] 3%[; and after age 76, [2%, 3%]].