Face Amount Charge definition

Face Amount Charge. The Guaranteed Maximum Face Amount Charge at issue is shown on the Policy Data Page. If the Base Face Amount is increased after issue the Guaranteed Maximum Face Amount Charge will increase. A current Face Amount Charge less than the Guaranteed Maximum Face Amount Charge may be used at our option. Cost of Insurance - The Guaranteed Maximum Cost of Insurance Rates are shown on the Policy Data Page. A current Cost of Insurance rate less than the Guaranteed Maximum Cost of Insurance rate may be used at our option. If you increase or decrease the Total Face Amount after issue, each change may have different applicable Cost of Insurance rates. The Cost of Insurance is the current Cost of Insurance rate multiplied by the Net Amount At Risk determined as of the date of the Monthly Deduction. The Net Amount At Risk is:
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Examples of Face Amount Charge in a sentence

  • Daily Risk Percentage, Monthly Expense Charge and Monthly Face Amount Charge.

  • The Mortality and Expense Risk Face Amount Charge is shown in the Policy Specifications, and is based on the Face Amount at policy issue.

  • Beginning on the Policy Date and monthly thereafter, the Mortality and Expense Risk Charge will be the sum of the Mortality and Expense Risk Asset Charge and the Mortality and Expense Risk Face Amount Charge.

  • As of that date, no more Premiums will be accepted and the Monthly Cost of Insurance, Monthly Expense Charge and Monthly Face Amount Charge will cease.

  • Units are redeemed when You make Partial Surrenders, undertake Policy loans or transfer amounts from a Sub-Account, and for payment of the mortality and expense risk charge, the Monthly Expense Charge, the Monthly Face Amount Charge, and the Monthly Cost of Insurance charge.

  • The Enhancement Benefit, if any, represents a return of a portion of the charges You paid under this Policy including the Premium Expense Load, Monthly Cost of Insurance, Monthly Expense Charge, and Monthly Face Amount Charge.

  • If there have been increases in the Face Amount, each increase will have a corresponding Mortality and Expense Risk Face Amount Charge related to the amount of the increase.

  • The M&E Risk Face Amount Charge for this rider is to compensate us for the risk we assume that mortality, expenses and other costs associated with the rider will be greater than estimated.

  • If there have been increases in the Face Amount, each increase will have a corresponding Face Amount Charge for the amount of the increase.

  • The M&E Risk Face Amount Charge is the amount shown in the Policy Specifications, and is based on the Face Amount at policy issue.