Fixed LT Account definition

Fixed LT Account. We reserve the right to limit the amount allocated to the Fixed LT Account to $1,000,000 during the most recent 12 months for all policies in which you have an ownership interest or to which payments are made by a single payor. Allocations include Net Premium payments, transfers and loan repayments. Any excess over $1,000,000 will be transferred to your other Investment Options relative to your most recent instructions. We may increase the $1,000,000 limit at any time at our sole discretion. You may contact us to find out if a higher limit is in effect. We reserve the right: - to limit the size of transfers so that each transfer is at least $500; - to require the remaining balance in any account as a result of a transfer be at least $500; and - to assess a charge of $50 for each transfer exceeding 6 per policy year. POLICY CHARGES Monthly Deduction - A Monthly Deduction for a policy month is due on each monthly payment date and is equal to the sum of the following items: - the monthly Cost of Insurance Charge; - the Administrative Charge; - the Mortality and Expense Risk Charge; and - the monthly charge of any riders or benefits. The Monthly Deduction will be charged proportionately to the Accumulated Value in the Investment Options on the monthly payment date. Cost of Insurance Charge - Beginning on the policy date and monthly thereafter, there will be a charge equal to the Cost of Insurance applicable to the policy face amount.
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Fixed LT Account. We reserve the right to limit the amount allocated to the Fixed LT Account to $1,000,000 during the most recent 12 months for all policies owned by you. Allocations include Net Premium payments, transfers and loan repayments. Any excess over $1,000,000 will be transferred to your other Investment Options relative to your most recent instructions. We may increase the $1,000,000 limit at any time at our sole discretion. You may contact us to find out if a higher limit is in effect. No charges are currently imposed upon a transfer. We reserve the right to limit the size of transfers to an amount to be at least $500; to limit the frequency of transfers, but not less than once per quarter; to limit the remaining balance in any account to be at least $500; and to assess a charge for transfers not to exceed $50 per transfer.
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Examples of Fixed LT Account in a sentence

  • While we expect to credit a higher rate of interest to the Fixed LT Account than to the Fixed Account, we do not guarantee to do so.

  • You may transfer up to 100% of the value in the Fixed Account to the Fixed LT Account.

  • You may transfer to the Variable Options or Fixed LT Account, or both.

  • You may transfer from the Fixed LT Account an amount up to the greater of $5,000 or 10% of the Accumulated Value in the Fixed LT Account, but only one such transfer may be made in any twelve-month period.

  • Transfers from the Variable Options to the Fixed LT Account – You may make one transfer from the Variable Options to the Fixed LT Account during any twelve-month period, subject to limitations on allocations to the Fixed Options.

  • The Fixed Options consist of the Fixed Account and the Fixed LT Account.

  • The Fixed Accounts available as of the Policy Date are the Fixed Account and the Fixed LT Account.

  • Fixed LT Account – is an account that is part of our General Account to which all or a portion of Net Premiums may be allocated for accumulation at a fixed rate of interest declared by us.

  • Such transfer is limited to the greatest of $5,000, 25% of the Accumulated Value in the Fixed Account, and the amount transferred in the prior policy year from the Fixed Account to the Variable Accounts, provided that you may transfer up to 100% of the value in the Fixed Account to the Fixed LT Account.

  • Such transfer is limited to the greatest of $5,000, 10% of the Accumulated Value in the Fixed LT Account, and the amount transferred in the prior policy year from the Fixed LT Account to either the Fixed or Variable Accounts.