POLICY VALUES Sample Clauses

POLICY VALUES. POLICY VALUE The Policy Value is the sum of this policy's share in the value of each Subaccount of the Separate Account, the value of this policy's LT-GIA and the value of this policy's GIA. SHARE OF SEPARATE ACCOUNT SUBACCOUNT VALUES The share of this policy in the value of each Subaccount of the Separate Account on a Valuation Date is the Unit Value of that Subaccount on that date multiplied by the number of this policy's Units in that Subaccount after all transactions for the Valuation Period ending on that day have been processed. For any day which does not fall on a Valuation Date, the share of this policy in the value of each Subaccount of the Separate Account is determined using the number of Units on that day after all transactions for that day have been processed and the Unit Values on the next Valuation Date. UNITS The number of Units credited to each Subaccount of the Separate Account will be determined by dividing the net premium payment applied to that Subaccount by the Unit Value of that Subaccount on the Payment Date. UNIT VALUE The Unit Value of each Subaccount of the Separate Account was set by Us on the first Valuation Date of each such Subaccount. The Unit Value of a Subaccount of the Separate Account on any other Valuation Date is determined by multiplying the Unit Value of that Subaccount on the just prior Valuation Date by the Net Investment Factor for that Subaccount for the then current Valuation Period. The Unit Value of each Subaccount of the Separate Account on a day other than a Valuation Date is the Unit Value on the next Valuation Date. Unit Values are carried to 6 decimal places. The Unit Value of each Subaccount of the Separate Account on a Valuation Date is determined at the end of that day.

POLICY VALUES. ACCUMULATED VALUE OF THE POLICY. The Accumulated Value of the policy is equal to the sum of the Accumulated Value in the General Account and the Accumulated Value in the Separate Account. ACCUMULATED VALUE IN THE GENERAL ACCOUNT. The Accumulated Value in the General Account on any day is:

POLICY VALUES. If the Ceding Company alters the policy values, (e.g. COI charges, credited rates, M&E fees, etc.) in such a way as could reasonably be construed as being intended to cause lapsation or replacement of the policies, then the Allowance Adjustments provision as shown in Schedule III will no longer apply. If the Reinsurer implements a change in the Rate Table Multiple in accordance with the Premium Adjustments provision of Schedule III, at a time which the Allowance Adjustments provision no longer applies, the Ceding Company may recapture business with ninety (90) days written notice to the Reinsurer. The Ceding Company will notify the Reinsurer of any changes to policy values on a timely basis. 7 ARTICLE XI POLICY ADMINISTRATION AND PREMIUM ACCOUNTING

POLICY VALUES. THE ACCOUNT VALUE The Account Value at any given time is the sum of the balances of all investment accounts on this policy. If the Death Benefit Type of this policy is Level Face or Face Plus:  then, as of the date of death of a Designated Life Insured on an Insurance Coverage, we will reduce the Account Value of the policy by the Allocated Amount for that Insurance Coverage. The reduction will apply to investment accounts in the order described in the Cash Withdrawal provision. If the Death Benefit Type of this policy is Account Value on Each Death: SAMPLE  then, as of the date of death of each Life Insured other than the last Designated Life Insured on this policy, we will reduce the Account Value by an amount equal to the Account Value as of the date of death, multiplied by the percentage of Account Value payable at each death as shown in the section called InnoVision summary. The reduction will apply to investment accounts in the order described in the Cash Withdrawal provision. However, if a Life Insured, other than the last Designated Life Insured on this policy, commits suicide and, as a result, we do not pay the amount described in the Death Benefit provision, the Account Value will not be reduced. The Account Value will become zero as of the date of death of a Life Insured as described in the Death Benefit and Suicide provisions if that person’s death causes your policy to terminate. THE CASH VALUE The Cash Value at any given time is equal to:

POLICY VALUES. Account Value - The Account Value is the sum of the values in the Fixed Account, the Variable Account, and the Loan Account. The Account Value on the Policy Date is the initial Net Premium received as of the Policy Date, less any Monthly Deduction charged as of the Policy Date. The Account Value on each Valuation Date after the Policy Date will be:

POLICY VALUES. The Cash Value equals: o The Accumulation Value; minus o The Surrender Charge. The Surrender Charges are shown on the Schedule Page and any Schedule Page supplements. When this Policy terminates, the Accumulation Value may be less than the Surrender Charge. If so, you will not have to pay the difference to us. If this Policy is reinstated, we will reinstate the Surrender Charge as described in Part 6. The Net Cash Value equals: o The Cash Value; minus o The Policy Loan (Part 11). During the Insured's life, you may: o Take loans based on the Net Cash Value; and o Make Partial Surrenders; and o Surrender this Policy for its Net Cash Value.