Examples of Contract Month in a sentence
If the value of the assets relating to the Contract held in the Variable Investment Option has increased due to investment performance during the Contract Month at greater than a 4% annual rate, the Contract's Death Benefit will increase on the first day of the next Contract Month.
The Contract’s Death Benefit will change on the first day of each Contract Month by an amount that depends on the investment performance of your chosen Variable Investment Options.
The interest earned during a Contract Month will be credited at the end of the Contract Month.
The amount of Accumulated Value on the date of reinstatement will equal: (a) the Accumulated Value as of the expiration of the grace period before termination of the Contract; PLUS (b) any premiums received at the time of reinstatement, reduced by the Premium Expense Charges; LESS (c) any Monthly Deductions and any loan interest due for the grace period; LESS (d) the Monthly Deduction for the next Contract Month.
To be eligible, the contract must have completed the 15th Contract Month and Commission Schedule B, C, D or E must have been selected on the application.