Option B Base Policy definition
Option B Base Policy. The Net Amount at Risk is the Death Benefit minus the Account Value, where Death Benefit is the greater of the Face Amount plus Account Value or the minimum amount required under Section 7702 of the IRC. SCHEDULE B AUTOMATIC REINSURANCE PREMIUMS - YEARLY RENEWABLE TERM BASIS
Option B Base Policy. The net amount at risk is the death benefit minus the accumulation value, where the death benefit is the greater of the Face Amount plus accumulation value or the minimum amount required under Section 7702 of the IRC. ALL PLANS OTHER THAN UNIVERSAL LIFE: The portion of the policy reinsured (p) will be determined at issue as the reinsured face amount divided by the total face amount. The Net Amount at Risk reinsured will be determined at issue for its first ten years as follows: