CONTRACT MAINTENANCE CHARGE. 7 TRANSFERS................................................................... 8 WITHDRAWALS................................................................. 8
CONTRACT MAINTENANCE CHARGE. On the last business day of each Contract Year or on the date of surrender of this Contract, if earlier, the Company will deduct a $30.00 Contract Maintenance Charge from the Accumulated Value but in no case will this charge exceed 2% of such value. It will be charged against the Accumulated Value by proportionately reducing the number of Accumulation Units held on that date with respect to each active subaccount of the Separate Account.
CONTRACT MAINTENANCE CHARGE. DEDUCTION FOR CONTRACT MAINTENANCE CHARGE -- The Company deducts an annual Contract Maintenance Charge from the Contract Value by cancelling Accumulation Units from each applicable Subaccount or reducing the General Account Value to reimburse it for expenses relating to maintenance of this Contract. The Contract Maintenance Charge is shown on the Contract Data Page. The Contract Maintenance Charge will be deducted from the Contract Value on each Contract Anniversary while this Contract is in force. If a total withdrawal is made on other than a Contract Anniversary, the Contract Maintenance Charge will be deducted at the time of withdrawal. If the Annuity Date is not a Contract Anniversary, a prorata portion of the annual Contract Maintenance Charge will be deducted on the Annuity Date. After the Annuity Date, the Contract Maintenance Charge will be collected on a monthly basis and will result in a reduction of each Annuity Payment.
CONTRACT MAINTENANCE CHARGE. If your Contract Value is less than $50,000, we will charge a Contract Maintenance Charge of the lesser of $30 or 2% of the Contract Value. In no event will the Contract Maintenance Charge ever exceed $30. This charge is deducted on the Contract Anniversary and when a surrender of the Contract occurs, if the Contract Value at the time is then less than $50,000. The Contract Maintenance Charge will be deducted on a pro-rata basis from all Allocation Options to which your Contract Value is allocated. We reserve the right to raise the Contract Value amount over which we will waive the Contract Maintenance Charge.
CONTRACT MAINTENANCE CHARGE. 7 Mortality and Expense Risk Charge........................ 8
CONTRACT MAINTENANCE CHARGE. DEDUCTION FOR CONTRACT MAINTENANCE CHARGE - The Company deducts an annual Contract Maintenance Charge shown on the Contract Data Page, from the Contract Value by cancelling Accumulation Units to reimburse it for administration expenses relating to maintenance of this Contract. The Contract Maintenance Charge will be deducted from the Contract Value on each Contract Anniversary this Contract is in force. The number of Accumulation Units to be cancelled will be from each applicable sub-account in the ratio that the value of each sub-account bears to the total Contract Value. When this Contract is surrendered for its full Surrender Value, on other than the Contract Anniversary, the Contract Maintenance Charge will be deducted at the time of such surrender. Prior to the Income Date, the Company does not guarantee the amount of the Contract Maintenance Charge, and there is no guarantee that it will not be changed in the future. After the Income Date, the amount of the Contract Maintenance Charge will not be changed from the amount of the annual Contract Maintenance Charge in effect during the Contract Year immediately preceding the Income Date. After the Income Date the Contract Maintenance Charge will be collected on a monthly basis and will result in the reduction of the monthly benefit.
CONTRACT MAINTENANCE CHARGE. Your annual Contract Maintenance Charge is shown on the Contract Schedule. We waive this charge as follows: · During the Accumulation Phase if the Entire Contract Value is at least equal to the Designated Amount at the end of the last Business Day before the Contract Anniversary. · During the Accumulation Phase if the Contract Value on the Contract Anniversary is at least equal to the Designated Amount. · During the Annuity Phase if the Entire Contract Value is at least equal to the Designated Amount at the end of the last Business Day before the Annuity Date. The Designated Amount is shown on the Contract Schedule. We determine the Entire Contract Value by adding the Contract Value for all individually owned contracts by using the Owner’s social security number, and for non-individually owned contracts we use the Annuitant’s social security number. During the Accumulation Phase, we deduct the Contract Maintenance Charge from the Contract Value on the Contract Anniversary. If the Contract Anniversary is not a Business Day, we deduct the charge on the next Business Day. If you take a Full Withdrawal from your contract (other than on a Contract Anniversary), we deduct the Contract Maintenance Charge. We deduct the Contract Maintenance Charge proportionately from each Allocation Option. During the Annuity Phase, we deduct the Contract Maintenance Charge proportionately from each Annuity Payment.
CONTRACT MAINTENANCE CHARGE. Prior to the Payout Start Date, a Contract Maintenance Charge will be deducted from your Contract Value on each contract anniversary. The charge will be deducted on a pro-rata basis from each Sub- account of the Variable Account in the proportion that your value in each bears to your total value in all Sub-accounts of the Variable Account. A reduced Contract Maintenance Charge proportional to the part of the Contract Year elapsed will also be deducted if the Contract is terminated on any date other than a contract anniversary. After the Payout Start Date the Contract Maintenance Charge will be deducted in equal parts from each income payment. The annualized charge will never be greater than $35 per contract year. The Contract Maintenance Charge will be waived if, on the contract anniversary, total purchase payments are $50,000 or more or if all money is allocated to the Fixed Account(s) on the contract anniversary.
CONTRACT MAINTENANCE CHARGE. We deduct an annual Contract Maintenance Charge shown on the Contract Data page. We determine your Contract Value as of your Contract Anniversary and make any deductions required on a pro-rata basis from all Allocation Options to which your Contract Value is allocated. If a total withdrawal is made on other than a Contract Anniversary, we will determine your Contract Value and make a deduction for the Contract Maintenance Charge the same as we would if it were a Contract Anniversary. TRANSFERS TRANSFERS DURING THE ACCUMULATION PERIOD: A transfer is subject to the following:
CONTRACT MAINTENANCE CHARGE. Great-West may assess a charge to reimburse Great-West and/or its affiliates for the costs of maintaining this Contract, including the costs for providing accounting and recordkeeping services. This charge will not be higher than $100.00 per year.
