CONTRACT MAINTENANCE CHARGE. DEDUCTION FOR CONTRACT MAINTENANCE CHARGE - The Company deducts an annual Contract Maintenance Charge shown on the Contract Data Page, from the Contract Value by cancelling Accumulation Units to reimburse it for administration expenses relating to maintenance of this Contract. The Contract Maintenance Charge will be deducted from the Contract Value on each Contract Anniversary this Contract is in force. The number of Accumulation Units to be cancelled will be from each applicable sub-account in the ratio that the value of each sub-account bears to the total Contract Value. When this Contract is surrendered for its full Surrender Value, on other than the Contract Anniversary, the Contract Maintenance Charge will be deducted at the time of such surrender. Prior to the Income Date, the Company does not guarantee the amount of the Contract Maintenance Charge, and there is no guarantee that it will not be changed in the future. After the Income Date, the amount of the Contract Maintenance Charge will not be changed from the amount of the annual Contract Maintenance Charge in effect during the Contract Year immediately preceding the Income Date. After the Income Date the Contract Maintenance Charge will be collected on a monthly basis and will result in the reduction of the monthly benefit.
Appears in 3 contracts
Sources: Variable Annuity Contract (Sentry Variable Account Ii), Individual Flexible Purchase Payment Deferred Variable Annuity Contract (Sentry Variable Account I), Annuity Contract (Sentry Variable Account Ii)