Common use of Cash Surrender Clause in Contracts

Cash Surrender. You may surrender this contract for its cash surrender value at any time before the earliest of: (1) your death; (2) the Annuitant's death; or (3) the maturity date. When you surrender the contract you will receive 10% of the contract value without a surrender charge, provided you have not exercised the partial surrender provision or have not participated in the systematic partial surrender plan during the current contract year. The cash surrender value of this contract is: (1) the contract value at the time of surrender; less (2) any applicable surrender charge (shown in Section 1, Contract Data); less (3) any loan balance; less (4) any premium taxes payable. To surrender the contract you must submit a written request to us. We have the right to require that the contract be returned to us as well. We will determine the cash surrender value on the date we receive these requirements. We will pay the cash surrender value in a lump sum unless you request payment under a payment option. Certain federal income tax consequences may apply to a cash surrender of the contract. You should consult your tax adviser before requesting a surrender.

Cash Surrender. You may surrender this contract for its cash surrender value at any time before the earliest earlier of: (1) your death; (2) the Annuitant's death; or (3) the maturity date. When you surrender the contract you will receive 10% of the contract value without a surrender charge, provided you have not exercised the partial surrender provision or have not participated in the systematic partial surrender plan during the current contract year. The cash surrender value of this contract is: (1) the contract value of this contract at the time of surrender; less (2) any applicable surrender charge (shown in Section 1, Contract Data); less (3) any loan balance; less (4) any premium taxes payable. To surrender the contract you must submit a written request to us. We have the right to require that the contract be returned to us as well. We will determine the cash surrender value on the date we receive these requirements. We will pay the cash surrender value in a lump sum unless you request payment under a payment option. Certain federal income tax consequences may apply to a cash surrender of the contract. You should consult your tax adviser advisor before requesting a surrender.

Cash Surrender. You At any time before the earlier of your death, the Annuitant’s death or the maturity date, you may request a surrender of this contract for its full cash surrender value at any time before the earliest of: (1) by submitting your death; (2) the Annuitant's death; or (3) the maturity datewritten notice to us. When you request a full surrender of the contract you will receive 10% of the contract value without a surrender charge, provided you have not exercised the partial surrender provision or have not participated in the systematic partial surrender plan during the current contract year. The cash surrender value of this contract is: (1) the contract value of this contract at the time of surrender; less (2) any applicable surrender charge (shown in Section 1, Contract Data); less (3) any loan balancecontract indebtedness; less (4) any premium taxes payable. To surrender the contract you must submit a written request to us. We have the right to require that the contract be returned to us as well. We will determine the The cash surrender value will be determined on the date we receive these requirementswritten notice of surrender and the contract are received at our Home Office. We will pay the The cash surrender value will be paid in a lump sum unless you request payment under a payment option. Certain federal income tax consequences may apply to a cash surrender of the contract. You Therefore, you should consult with your tax adviser advisor before requesting a surrender.