Adjusted premium

Premium that equals the net level premium plus the modification of the net level premium to reflect the cost associated with paying for the first year initial acquisition expenses. The modification is derived by dividing the first year initial acquisition expenses by the present value of a life annuity due (thereby amor­tizing these expenses over the premium paying period). This is the pre­mium used to generate a minimum cash surrender value required by the NONFORFEITURE PROVISION.

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