MONTHLY DEDUCTION definition

MONTHLY DEDUCTION. The monthly deduction for each policy month shall be calculated as:
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MONTHLY DEDUCTION. The monthly deduction for each month from the Policy Date, shall be calculated as:
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MONTHLY DEDUCTION. The "Monthly Deduction" is the total amount of deduction taken from the Accumulation Value on each Monthly Processing Date and includes the initial Policy charge (during the first 12 months), the Monthly Administrative Charge, the cost of insurance charge and any charges for additional benefits provided by riders.
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Examples of MONTHLY DEDUCTION in a sentence

  • Contributions in Excess of Monthly Deduction: Each month, contributions toward premiums may be made in an amount in excess of the Monthly Deduction.

  • A person’s minimum contribution each month is the Monthly Deduction.

  • If a Covered Person dies during a grace period, Prudential will deduct any overdue Monthly Deduction from the death benefit.

  • If the Monthly Deduction is not paid within the grace period, the person's Universal Life Coverage, including any of the additional provisions that may be a part of the Universal Life Coverage, will end at the end of the grace period.

  • In addition, Prudential will accept contributions in excess of Monthly Deductions and lump sum contributions, subject to a Maximum Monthly Contribution, as described below.Monthly Deductions: Each month, Prudential will make a Monthly Deduction from a person's fund.


More Definitions of MONTHLY DEDUCTION

MONTHLY DEDUCTION is a monthly deduction made from the Policy Account Value. This deduction includes the Cost of Insurance, an administrative expense charge and charges for supplemental riders or benefits, if applicable (See PART 4 POLICY VALUES PROVISIONS). The first Monthly Deduction is made as of the Issue Date. Monthly Deductions will be made thereafter on each Monthly Anniversary Day. "MORTALITY AND EXPENSE RISK (M&E)" is a daily charge assessed by us during each Valuation Period for the assumption of mortality and expense risks. This charge is expressed as a percentage of the value of the Variable Sub-Account(s). The annual -------------------------------------------------------------------------------- VL-2020AA(01/00) Page 4 -------------------------------------------------------------------------------- effective M&E rate is shown in the Policy Schedule. "NET POLICY ACCOUNT VALUE" is the Policy Account Value less the Loan Account value.
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MONTHLY DEDUCTION. A Monthly Deduction for a policy month is due on each Monthly Payment Date prior to the Insured’s Age 100 and is equal to the sum of the following: · the Cost of Insurance Charge; · the Mortality and Expense Risk Charge; · the Administrative Charge; and · rider or benefit charges, if any. Unless you have made a Written Request to the contrary, the Monthly Deduction will be charged proportionately to the Accumulated Value in each Investment Option. Beginning at Age 100, there is no Monthly Deduction whatsoever.
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MONTHLY DEDUCTION means a charge made under this policy each month against the policy's cash value. The charge is equal to:
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MONTHLY DEDUCTION means, in relation to each Policy Month,
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MONTHLY DEDUCTION. The Policy Charges against the Cash Value that occur on each Monthly Anniversary Day.
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MONTHLY DEDUCTION. A Monthly Deduction for a policy month is due on each Monthly Payment Date and is equal to the sum of the following items: • the monthly Cost of Insurance Charge; • the M&E Risk Charge; • the Administrative Charge; and • rider or benefit charges, if any. Unless you have made a Written Request to the contrary, the Monthly Deduction will be charged on the Monthly Payment Date proportionately to the Accumulated Value in each Investment Option. Cost of Insurance Charge – Beginning on the Policy date and monthly thereafter, there will be a monthly Cost of Insurance Charge for the death benefit payable under this policy equal to (1) multiplied by (2), with the result divided by 1000, where:
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MONTHLY DEDUCTION. A Monthly Deduction for a policy month is due on each Monthly Payment Date prior to the younger Insured's Age 100 and is equal to the sum of the following items:
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