Common use of Account Charge Clause in Contracts

Account Charge. On the last business day of each Contract Year, LNL will deduct $25.00 from the account value. At surrender the account charge will be deducted from the account value. The account value is the value of all the Accumulation Units in the name of the Owner plus the value of the fixed portion of the Contract. If the Annuitant has elected more than one sub- account, the deduction of the Account Charge shall be taken from each sub-account on a pro-rata basis. Each sub-account will be adjusted by an amount equal to a fraction of the charge. The fraction is equal to "a" divided by "b", where "a" is the account value of the sub-account and "b" is the value of all sub-accounts under the Contract. The fraction for each sub-account is applied to the deduction to determine each sub-account's deduction. For the purposes of this Section, the fixed portion of the Contract is considered a sub-account.

Account Charge. On the last business day of each Contract Year, ; LNL will deduct $25.00 35.00 from the account value. At surrender the account charge will be deducted from the account value. The account value is the value of all the Accumulation Units in the name of the Owner plus the value of the fixed portion of the Contract. If the Annuitant has elected more than one sub- sub-account, the deduction of the Account Charge shall be taken from each sub-account on a pro-rata basis. Each sub-sub- account will be adjusted by an amount equal to a fraction of the charge. The fraction is equal to "a" divided by "b", ," where "a" is the account value of the sub-account and "b" is the value of all sub-accounts under the Contract. The fraction for each sub-account is applied to the deduction to determine each sub-sub- account's deduction. For the purposes of this Section, the fixed portion of the Contract is considered a sub-account.