Common use of Variable Account Value Clause in Contracts

Variable Account Value. The variable account value is the sum of the values of the subaccounts under this contract. On the contract date the value of each subaccount equals: (1) the portion of the initial premium allocated to the subaccount; less (2) the portion of the mortality and expense risk charges and asset-based administration charge allocated to the subaccounts.

Variable Account Value. The variable account value is the sum of the values of the subaccounts under this contract. J187 On the contract date the value of each subaccount equals: (1) the portion of the initial premium allocated to the subaccount; less (2) the portion of the mortality and expense risk charges and asset-based administration charge allocated to the subaccounts.