Common use of THE FIXED ACCOUNT Clause in Contracts

THE FIXED ACCOUNT. The Fixed Account The Fixed Account is a segmented fund within the general account of the Company. The initial premium is allocated to the Account and the Fixed Account based on allocation instructions in the Application for insurance. The portion of the initial premium allocated to the Fixed Account is first invested in the Fixed Account as of the latest of: . The Policy Date; . The date of the last Part II of the Application, if any is required; . The effective date of the choice of the Fixed Account; and . The date the first premium is received by the Company. Thereafter, each net premium allocated to the Fixed Account and each net unscheduled payment allocated to the Fixed Account will be applied as of the date it is received by the Company at its Administrative Office. Each transfer to the Fixed Account will be applied as of the transfer date. Fixed Account Interest The rate of interest for each amount applied to the Fixed Account: will be the rate set by the Company in advance for the date the amount is applied to the Fixed Account; and will not be less than a rate equivalent to an annual effective rate of 4%. The effective interest rate used on the Policy will be the weighted average of all such rates for the Policy. Each year, on the policy anniversary, the Company will determine a portion, if any, of the Policy's portion of the Fixed Account which will be reinvested at the rate effective on that date. Interest will be credited to the Fixed Account on a daily basis. Restriction of New Amounts Applied to the Fixed Account The Company reserves the right to restrict new amounts applied to the Fixed Account if the rate of interest that would be used for the new amount is a rate equivalent to an annual effective rate of 4%. Transfers Out of the Fixed Account You can transfer a limited amount of the Policy's portion of the Fixed Account to the sub-accounts once within 30 days before each policy anniversary. The transfer will be limited to the greater of: 25% of the Policy's portion of the Fixed Account; and the amount of the Policy's portion of the Fixed Account transferred to the sub-accounts the prior year. Requests for transfers can be made in writing or by telephone. The Company is not responsible for determining the authenticity of transfer instructions received by telephone. Choice of the Fixed Account You can choose to have net premiums and net unscheduled payments applied to the Fixed Account. You can change the choice for future net premiums and future net unscheduled payments at any time by notice to the Company in writing. (See the Restriction of New Amounts Applied to the Fixed Account provision.) The portion of the net premium and net unscheduled payment to be applied to the Fixed Account must be a whole percent not less than 10.

THE FIXED ACCOUNT. The Fixed Account THE FIXED ACCOUNT The Fixed Account is a segmented fund within portion of the general account of the Company. The initial net premium is allocated to the Account and the Fixed Account based on allocation instructions in the Application for insurance. The portion of the initial net premium allocated to the Fixed Account is first invested in the Fixed Account as of the latest of: . - The Policy Date; . - The date of the last Part II of the Application, if any is required; . - The effective date of the choice of the Fixed Account; and . - The date the first premium is received by the Company. Thereafter, each net premium allocated to the Fixed Account and each net unscheduled payment allocated to the Fixed Account will be applied as of the date it is received by the Company at its Administrative Home Office. Each transfer to the Fixed Account will be applied as of the transfer date. Fixed Account Interest FIXED ACCOUNT INTEREST The rate of interest for each amount applied to the Fixed Account: will be the rate set by the Company in advance for the date the amount is applied to the Fixed Account; and will not be less than a rate equivalent to an annual effective rate of 4%. The effective interest rate used on the Policy will be the weighted average of all such rates for the Policy. After the Policy has been in force for a total of 10 years, if the Company sets an interest rate for the Fixed Account which is greater than 4%, that rate will be increased for the Policy by at least .45%. The increase in interest rate will reflect a reduction in the Company's interest holdback margin for expenses. Each year, on the policy anniversary, the Company will determine a portion, if any, of the Policy's portion of the Fixed Account which will be reinvested at the rate effective on that date. Interest will be credited to the Fixed Account on a daily basis. Restriction of New Amounts Applied to the Fixed Account NEV-18-E 46 NEV-18-E RESTRICTION OF NEW AMOUNTS APPLIED TO THE FIXED ACCOUNT The Company reserves the right to restrict new amounts applied to the Fixed Account if the rate of interest that would be used for the new amount is a rate equivalent to an annual effective rate of 4%. Transfers Out of the Fixed Account TRANSFERS OUT OF THE FIXED ACCOUNT You can transfer a limited amount of the Policy's portion of the Fixed Account to the sub-accounts once within 30 days before after each policy anniversary. The Except with consent of the Company, the transfer will be limited to the greater of: 25% of the Policy's portion of the Fixed Account; and the amount of the Policy's portion of the Fixed Account transferred to the sub-accounts the prior year. Requests for transfers can be made in writing or by telephone. The Company is not responsible for determining the authenticity of transfer instructions received by telephone. Choice of the Fixed Account CHOICE OF THE FIXED ACCOUNT You can choose to have net premiums and net unscheduled payments applied to the Fixed Account. You can change the choice for future net premiums and future net unscheduled payments at any time by notice to the Company in writing. (See the Restriction of New Amounts Applied to the Fixed Account provision.) The portion of the net premium and net unscheduled payment to be applied to the Fixed Account must be a whole percent not less than 10percent.

THE FIXED ACCOUNT. The Fixed Account THE FIXED ACCOUNT The Fixed Account is a segmented fund within portion of the general account of the Company. The initial net premium is allocated to the Account and the Fixed Account based on allocation instructions in the Application for insurance. The portion of the initial net premium allocated to the Fixed Account is first invested in the Fixed Account as of the latest of: . - The Policy Date; . - The date of the last Part II of the Application, if any is required; . - The effective date of the choice of the Fixed Account; and . - The date the first premium is received by the Company. Thereafter, each net premium allocated to the Fixed Account and each net unscheduled payment allocated to the Fixed Account will be applied as of the date it is received by the Company at its Administrative Home Office. Each transfer to the Fixed Account will be applied as of the transfer date. Fixed Account Interest FIXED ACCOUNT INTEREST The rate of interest for each amount applied to the Fixed Account: will be the rate set by the Company in advance for the date the amount is applied to the Fixed Account; and will not be less than a rate equivalent to an annual effective rate of 4%. The effective interest rate used on the Policy will be the weighted average of all such rates for the Policy. After the Policy has been in force for a total of 10 years, if the Company sets an interest rate for the Fixed Account which is greater than 4%, that rate will be increased for the Policy by at least .45%. The increase in interest rate will reflect a reduction in the Company's interest holdback margin for expenses. Each year, on the policy anniversary, the Company will determine a portion, if any, of the Policy's portion of the Fixed Account which will be reinvested at the rate effective on that date. Interest will be credited to the Fixed Account on a daily basis. Restriction of New Amounts Applied to the Fixed Account The Company reserves the right to restrict new amounts applied to the Fixed Account if the rate of interest that would be used for the new amount is a rate equivalent to an annual effective rate of 4%. Transfers Out of the Fixed Account You can transfer a limited amount of the Policy's portion of the Fixed Account to the sub-accounts once within 30 days before each policy anniversary. The transfer will be limited to the greater of: 25% of the Policy's portion of the Fixed Account; and the amount of the Policy's portion of the Fixed Account transferred to the sub-accounts the prior year. Requests for transfers can be made in writing or by telephone. The Company is not responsible for determining the authenticity of transfer instructions received by telephone. Choice of the Fixed Account You can choose to have net premiums and net unscheduled payments applied to the Fixed Account. You can change the choice for future net premiums and future net unscheduled payments at any time by notice to the Company in writing. (See the Restriction of New Amounts Applied to the Fixed Account provision.) The portion of the net premium and net unscheduled payment to be applied to the Fixed Account must be a whole percent not less than 10.