Total Account Value definition
Examples of Total Account Value in a sentence
To illustrate, please refer to the sample billing schedule below: Total Account Value: Account Fee: $0 - $249,999 X% $250,000 – $499,999 Y% Under the Tiered billing method, a Total Account Value of $400,000 would be billed as follows: the first $249,999 would be billed at X% with the remaining $150,001 to be billed at Y%.
Under the Linear billing method, a Total Account Value of $400,000 would be billed at Y%.
Value The non-loaned portion of this Policy's Total Account Value attributable to the non-variable portion of this Policy.
The Specified Amount and Total Account Value will be reduced by equal amounts.
In consideration of the reinsurance provided hereunder, the Company shall pay to the Reinsurer reinsurance premiums for each Accounting Period during the Premium Payment Period equal to 15.0 basis points times the Proxy Total Account Value, in accordance with the calculation set forth in Appendix A (the "Reinsurance Premium").
If the Death Benefit option for this Policy is Option 2, a Partial Surrender will reduce the Total Account Value and the Death Benefit.
Insured's Age 80 Your Policy will remain in force until the later of the younger Insured's Attained Age 80 or 10 Policy Years from the Date of Issue, even if the Total Account Value is insufficient to satisfy the current Monthly Deduction, if on each Monthly Deduction Day the sum of all premiums paid equals or exceeds the sum of all Basic Monthly Premiums for each Policy Month from the Date of Issue, including the current month, plus any Partial Surrenders.
The Total Account Value as of the business day immediately preceding the Effective Date shall not be less than the product of 0.75 and the Total Account Value as of the date hereof; and First Union shall have received a written calculation thereof, certified as of the Effective Date by the Chief Executive Officer and the Chief Financial Officer of the Company.
Under the Non-Tiered billing method, a Total Account Value of $400,000 would be billed at Y%.
Guaranteed Death Benefit A provision that assures that the Policy will stay in force, even if the Total Account Value is insufficient to cover the current Monthly Deductions.