WITHDRAWAL CHARGE. CONDITIONS. Maturity benefits and withdrawals are subject to a Withdrawal Charge described on page 4. There is no Withdrawal Charge on benefits that are paid under a variable Installment Income or variable Life Income Payment Plan. However, the withdrawal of the present value of any unpaid installments under a variable Installment Income Plan (Option B) will be subject to a withdrawal charge if the withdrawal is made less than five years after the date that the payment plan takes effect.
WITHDRAWAL CHARGE. Upon a Full or Partial Withdrawal of this contract we assess a Withdrawal Charge. A Withdrawal Charge applies if any part of a Withdrawal comes from a Purchase Payment that is still within the Withdrawal Charge period. We assess the Withdrawal Charge against the Withdrawal Charge Basis, which is equal to total Purchase Payments, less any Purchase Payments withdrawn (including any Penalty-free Withdrawals), and less any applicable Withdrawal Charges outlined below. Penalty-free Withdrawals include Withdrawals under the Free Withdrawal Privilege and waiver of Withdrawal Charge benefit, and payments under our minimum distribution program, if applicable. We do not reduce the Withdrawal Charge Basis for amounts we deduct to pay contract charges, other than the Withdrawal Charge. If the Withdrawal Charge Basis is zero, we do not assess a Withdrawal Charge. For purpose of calculating any Withdrawal Charge we withdraw Purchase Payments on a first-in-first-out (FIFO) basis. We calculate the charge at the time of each Withdrawal. We take each Withdrawal from your contract in the following order.
WITHDRAWAL CHARGE. During the Accumulation Phase, we may deduct a withdrawal charge from the Individual Account value withdrawn. The charge, if any, is a percentage of the amount withdrawn from the Funds and/or Fixed Interest Options (except, if applicable, the Fixed Plus Account). The withdrawal charge will never exceed 8.5% of the total amount of Contributions. The withdrawal charge, if any, is shown on Contract Schedule I under Withdrawal Charge.
WITHDRAWAL CHARGE. The Company assesses a Withdrawal Charge when the Owner makes a full surrender or partial withdrawals. The Withdrawal Charge is calculated as a percentage of the Contributions being withdrawn. The Withdrawal Charge percentage varies with the number of years that have elapsed since each Contribution being withdrawn was made. Please see the Withdrawal Charges schedule on the Contract Data Page. For purposes of calculating the Withdrawal Charge, the Company will deem the oldest Contributions to be withdrawn first. For purposes of calculating the Withdrawal Charge, the Company will deem Contributions to be withdrawn before any earnings. After the amount of all Contributions has been withdrawn, all remaining withdrawals will be free of the Withdrawal Charge.
WITHDRAWAL CHARGE. A Withdrawal Charge may be imposed upon certain withdrawals. Withdrawal Charges will be calculated in accordance with the Withdrawal Charge schedule on the Contract Data Page. The Withdrawal Charge is equal to the Withdrawal Charge percentage applied to the portion of Remaining Premium withdrawn. The Withdrawal Charge will be taken from the Investment Divisions and the Fixed Account Options in the same proportion as the requested withdrawal. VA340NY 13 WITHDRAWAL PROVISIONS (CONT'D) The Withdrawal Charge will be deducted from the remaining Contract Value such that the actual reduction in Contract Value as a result of the withdrawal will be greater than the withdrawal amount requested and paid. For purposes of determining the Withdrawal Charge, earnings are defined as the excess of the Contract Value over the sum of remaining Contract Enhancements and Remaining Premiums. Withdrawals will be allocated first to earnings, if any (which may be withdrawn free of Withdrawal Charge), second to Remaining Premium on a first-in, first-out basis so that all withdrawals will be allocated to Remaining Premium to which the lowest (if any) Withdrawal Charges apply, and third to Contract Enhancements (which may be withdrawn free of any Withdrawal Charge.)
WITHDRAWAL CHARGE. Upon withdrawal of all or a portion of the Account Value, a Withdrawal Charge as set forth on the Contract schedule may be assessed. Under certain circumstances, described on the Contract schedule, a withdrawal may be made without the imposition of a Withdrawal Charge. For a partial withdrawal, the Withdrawal Charge will be deducted from the remaining Account Value, if sufficient, or from the amount withdrawn. 6410 (11/05) ANNUITY PROVISIONS ANNUITY DATE The Annuity Date is shown on the Contract Schedule. Prior to the Annuity Date, you may, subject to the Annuity Requirements set forth on the Contract Schedule, change the Annuity Date upon thirty (30) days prior Notice to us. ELECTION OF ANNUITY OPTION The Annuity Option is elected by you. If no Annuity Option is elected, Option 2 - Life Annuity with Ten (10) Years of Annuity Payments Guaranteed will automatically be applied. Upon thirty (30) days Notice prior to the Annuity Date you may change the Annuity Option. ANNUITY OPTIONS You may elect to receive Annuity Payments monthly, quarterly, semi-annually or annually. The following Annuity Options, or any other Annuity Option acceptable to you and us, may be elected: OPTION 1 -- LIFE ANNUITY We will make Annuity Payments, payable at the frequency elected, during the lifetime of the Annuitant and terminating with the last payment due prior to the Annuitant's death. OPTION 2 -- LIFE ANNUITY WITH 10 YEARS OF ANNUITY PAYMENTS GUARANTEED We will make Annuity Payments, payable at the frequency elected, during the lifetime of the Annuitant with a guarantee that if at the Annuitant's death there have been less than 10 years of Annuity Payments made as selected, Annuity Payments will continue for the remainder of the Guaranteed Period. You may elect to have the present value of the guaranteed Variable Annuity Payments remaining, as of the date due proof of the Annuitant's death is received at our Annuity Service Office, commuted at the Assumed Investment Return selected. We will require the return of this Contract and proof of death prior to the payment of any commuted values.
WITHDRAWAL CHARGE. The charge assessed against certain withdrawals from the Contract Value and in the event of payments under an income option commencing during the first Contract Year.
WITHDRAWAL CHARGE. 11 Taxes.............................................................................................11
WITHDRAWAL CHARGE. If you withdraw all or a part of your contract, you may be subject to a withdrawal charge. A withdrawal charge applies if all or a part of the contract value you withdraw is from payments received that are still in the withdrawal charge period indicated under Contract Data. Refer to Waiver of Withdrawal Charges for situations when withdrawal charges are not deducted. We determine your withdrawal charge by multiplying each of your payments withdrawn by the applicable withdrawal charge percentage, and then totalling the withdrawal charges. For a partial withdrawal that is subject to a withdrawal charge, the amount we actually withdraw from your contract value will be the amount you request plus any applicable withdrawal charge as of the date of withdrawal. The withdrawal charge is applied to this total amount. We pay you the amount you requested. The withdrawal charge percentage depends upon the number of years since you made the payment(s) withdrawn as shown under Contract Data. The withdrawal charge applies regardless of the contract value at time of withdrawal. Therefore, the purchase payment amount applied to the withdrawal charge percentage may be greater or less than the contract value. Withdrawal Provisions (Continued) Waiver of Withdrawal Charges Withdrawal charges are waived for all of the following:
WITHDRAWAL CHARGE. For each Gas Flow Day, the Withdrawal Charge shall be payable in respect of the Withdrawn Quantity for that Gas Flow Day and shall be payable in accordance with clause 13.5.
