VALUE ACCUMULATION TEST definition

VALUE ACCUMULATION TEST. The Minimum Death Benefit will be the amount required for this policy to be deemed "life insurance" according to the Code, but not less than 101% of the Accumulated Value.
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Examples of VALUE ACCUMULATION TEST in a sentence

  • CASH VALUE ACCUMULATION TEST If you choose the Cash Value Accumulation Test, you must choose one of two Net Single Premium Corridors (the Net Single Premium Corridor or the Enhanced Net Single Premium Corridor) in the original Application.

  • P04SA P BASIC POLICY: FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE PREMIUMS: PLANNED [ANNUAL] PREMIUM = $ 846.70 GUIDELINE SINGLE PREMIUM = 9,995.38 GUIDELINE LEVEL PREMIUM = 846.70 7-PAY PREMIUM = 1,958.12 DEATH BENEFIT QUALIFICATION TEST: GUIDELINE PREMIUM TEST [or CASH VALUE ACCUMULATION TEST] DEATH BENEFIT OPTION: A PREMIUM LOAD RATE: 6.35% ADMINISTRATIVE CHARGE: $7.50 PER MONTH TO AGE 100; $0 THEREAFTER.

  • THE FOLLOWING APPLIES IF THE TAX TEST ELECTED FOR FEDERAL INCOME TAX PURPOSES IS "CASH VALUE ACCUMULATION TEST", AS SHOWN IN SECTION 1.