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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 12/23/21 Fortune V Separate Account N-3/A 19:59M Empire Filings/FA → Universal Via – Money Market Portfolio → Universal Via Asset Allocation – Conservative Portfolio → Universal Via Asset Allocation – Growth Portfolio → Universal Via Asset Allocation – International Growth Portfolio → Universal Via Asset Allocation – Moderate Growth Portfolio → Universal Via Asset Allocation – Moderate Portfolio |
Document/Exhibit Description Pages Size
1: N-3/A Pre-Effective Amendment to Registration Statement HTML 4.29M
by an Open-End Investment Company for a Separate
Account
2: EX-1 Underwriting Agreement or Conflict Minerals Report HTML 13K
3: EX-2 Plan of Acquisition, Reorganization, Arrangement, HTML 35K
Liquidation or Succession
4: EX-3 Articles of Incorporation/Organization or Bylaws HTML 16K
5: EX-4.(A) Instrument Defining the Rights of Security Holders HTML 21K
6: EX-4.(B) Instrument Defining the Rights of Security Holders HTML 46K
7: EX-5.(A) Opinion of Counsel re: Legality HTML 110K
8: EX-5.(B) Opinion of Counsel re: Legality HTML 79K
14: EX-9 Voting Trust Agreement HTML 122K
16: EX-13 Annual or Quarterly Report to Security Holders HTML 9K
18: EX-17 Correspondence re: Departure of a Director HTML 30K
9: EX-99.6.(A) Exhibit 6(A) HTML 186K
10: EX-99.6.(B) Exhibit 6(B) HTML 13K
11: EX-99.6.(C) Exhbit 6(C) HTML 19K
12: EX-99.6.(D) Exhibit 6(D) HTML 25K
13: EX-7 Correspondence from an Accountant re: Non-Reliance HTML 10K
on a Previously Issued Audit Report or Completed
Interim Review
15: EX-12 Statement re: the Computation of Ratios HTML 12K
17: EX-16 Letter re: a Change in Accountant HTML 138K
19: EX-18 Letter re: a Change in Accounting Principles or HTML 37K
Practices
Exhibit (6)(c)
| Universal Life Insurance Company 33 Bolivia St. 6th Floor, San Juan, PR 00917 PO Box 2145 San Juan Puerto Rico 00922-2145 T: (787) 706-7337 F: (787) 793-1999 www.universalpr.com |
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GUARANTEED MINIMUM ACCUMULATION BENEFIT
GENERAL INFORMATION REGARDING THIS OPTION
This option is made part of the Contract to which it is attached and is effective on the Date of Issue. This option is only available at the time of application. To the extent any provisions contained in this option are contrary to or inconsistent with those of the Contract to which it is attached, the provisions of this option will control the Contract accordingly. Non- defined terms shall have the meaning given to them in the Contract.
This option is not renewable and is only available to Contracts with Annuitants age 85 or younger on the Date of Issue. The benefits described in this option will cease upon termination of the Contract, Annuitization or assigned without our consent.
DEFINITIONS:
Terms used that are not defined in this rider shall have the same meaning as those in Your base policy.
Investment Options
One or more Portfolios of the Separate Account available under Your policy which we designate are described in Article II on the Available Fund Choices section.
Gross Partial Withdrawal
The amount which will be deducted from Your Policy Value as a result of each Partial Withdrawal.
Guaranteed Future Value Date
Date after the rider becomes effective, 15 years for Option A or 13 years for Option B.
Rider Anniversary
The anniversary of the Rider Date.
Rider Date
Date on which the rider becomes effective, Rider Date is the Date of Issue.
Rider Fee
The annual rider fee is based on the Guaranteed Future Value on the rider anniversary. A pro-rated rider fee assessed at policy surrender is based on the Guaranteed Future Value at the time of the surrender and the number of days since the prior rider anniversary.
Rider Year
Each twelve-month period following the Rider Date.
Valuation Period
The period of time from one determination of the value of a Subaccount to the next. Such determinations are made when the value of the assets and liabilities of each Subaccount is calculated. This is generally the close of business on each day on which the New York Stock Exchange is open.
C:
RIDER FEE
When this option is elected, Universal Life Insurance Company deducts a Rider Fee on each Rider Anniversary and upon termination as described below:
Option A. Annual Charge of 0.95% of the Guarantee Future Value, if the Guarantee Future Value Date is 15 years.
Option B. Annual Charge of 1.35% of the Guarantee Future Value, if the Guarantee Future Vale Date is 13 years.
Subject to market conditions; the company may change the rider fee percentage up to 1.00% more than original fee percentage. This rider is revocable if the Company increases fee percentage for more than 0.75%.
GUARANTEED MINIMUM ACCUMULATION BENEFIT
If you elect the Guaranteed Minimum Accumulation Benefit we will provide a level of protection regardless of the performance of the variable investment choices you select. We guarantee that Your Policy Value will be at least as great as the Guaranteed Future Value on the Guaranteed Future Value Date.
On the Guaranteed Future Value Date, if Your Policy Value is less than the Guaranteed Future Value, we will add the difference to Your Policy Value at the end of the next Valuation Period. This addition will not be considered premium. We will provide no benefit under the Guaranteed Minimum Accumulation Benefit after the Guaranteed Future Value Date.
Guaranteed Future Value
We guaranteed that on the Guaranteed Future Value Date your policy value will at least equal your Guaranteed Future Value. The Guaranteed Future Value on the rider date is the account value on the rider date plus any additional premiums received within 6 months of the rider date.
The Guaranteed Future Value after the Guaranteed Future Value Date is zero.
Guaranteed Minimum Accumulation Benefit Adjustments
Gross Partial Withdrawals will reduce the Guaranteed Future Value taking into consideration the following formula. The amount of the Guaranteed Future Value Adjustments is equal to the greater of:
| 1) | the Gross Partial Withdrawal amount; or |
| 2) | the result of (A divided by B), multiplied by C, where: |
| A | is the amount of Gross Partial Withdrawal; |
| B | is the Policy Value immediately prior to the Gross Partial Withdrawal; and |
| C | is the Guaranteed Future Value immediately prior to the Gross Partial Withdrawal. |
Available Fund Choices
Conservative Asset Allocation Portfolio
Moderate Asset Allocation Portfolio
Money Market Portfolio
Signed for us at our home office.
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| PRESIDENT | SECRETARY |
C:
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/15/23 Fortune V Separate Account 485BPOS 5/15/23 11:6.1M Empire Filings/FA 6/10/22 Fortune V Separate Account 485BPOS 6/10/22 3:3.2M Empire Filings/FA 3/02/22 Fortune V Separate Account 485APOS 2:2.4M Empire Filings/FA |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 10/28/21 Universal Life Sep Acct Fort… VII N-4 10/27/21 5:19M Empire Filings/FA 9/13/21 Fortune V Separate Account N-CSRS 6/30/21 3:822K Empire Filings/FA |