Common use of Partial Surrenders Clause in Contracts

Partial Surrenders. You may surrender a portion of the Contract Value and have the Proceeds paid to you in a lump sum. A partial surrender must occur before the death of the Insured while the contract is in force. The partial surrender amount will be the Proceeds, plus the partial surrender fee shown in Section 1, Contract Data. The minimum amount for a partial surrender is $500. The maximum partial surrender is the Cash Surrender Value, less $300. We will deduct the partial surrender amount from the Contract Value on the day we receive Written Notice for the partial surrender. We will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account according to your instructions. If you provide no instructions, we will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account on a pro-rata basis. In the event that the partial surrender amount exceeds the Subaccount value and/or the Fixed Account Value, we will process the partial surrender for the amount available and contact you for further instructions. Under Options A, B and C, we will reduce the Contract Value by the partial surrender amount. In addition, for Option A, we will reduce the Specified Amount by the partial surrender amount minus the excess, if any, of the death benefit over the Specified Amount at the time the partial surrender is made. However, if the partial surrender amount is less than or equal to the excess of the death benefit over the Specified Amount, we will not reduce the Specified Amount. We have the right to require that the Specified Amount remaining in force after any partial surrender be at least equal to the minimum Specified Amount shown in Section 1, Contract Data. Certain federal income tax consequences may apply to partial surrenders from the contract. You should consult with your tax advisor before requesting any partial surrenders.

Partial Surrenders. You may surrender a portion of the Contract Value and have the Proceeds paid to you in at any time by submitting a lump sumWritten Notice. A partial surrender must occur before the death of the Insured while the contract is in force. The partial surrender amount will be the Proceeds, amount you request plus the partial surrender fee charge shown in Section 1, Contract Data. The minimum amount for a partial surrender is $500. The maximum partial surrender is the Cash Surrender Value, less $300. We will deduct the partial surrender amount from the Contract Value on the day we receive Written Notice for the partial surrender. We will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account according to your instructions. If you provide no instructions, we will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account on a pro-rata basis. In the event that the partial surrender amount exceeds the Subaccount value and/or the Fixed Account Value, we will process the partial surrender for the amount available and contact you for further instructions. Under Options A, B and C, we We will reduce the Contract Value by the partial surrender amount. In addition, for under Option A, we will reduce the Specified Amount by Amount. The amount of this reduction will be the partial surrender amount minus the excess, if any, of the death benefit over the Specified Amount at the time the partial surrender is made. However, if the partial surrender amount is less than or equal to the any excess of the death benefit over the Specified Amount, we will not reduce the Specified Amount. We have the right to require that the Specified Amount remaining in force after any partial surrender be at least equal to the minimum Minimum Specified Amount shown in Section 1, Contract Data. Certain federal income tax consequences may apply to partial surrenders from the contractsurrenders. You should consult with your tax advisor before requesting any a partial surrenderssurrender.

Partial Surrenders. You may surrender a portion of the Contract Value and have the Proceeds paid to you in at any time by submitting a lump sumWritten Notice. A partial surrender must occur before the death of the Insured while the contract is in force. The partial surrender amount will be the Proceeds, amount you request plus the partial surrender fee charge shown in Section 1, Contract Data. The minimum amount for a partial surrender is $500. The maximum partial surrender is the Cash Surrender Value, less $300. We will deduct the partial surrender amount from the Contract Value on the day we receive Written Notice for the partial surrender. We will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account according to your instructions. If you provide no instructions, we will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account on a pro-rata basis. In the event that the partial surrender amount exceeds the Subaccount value and/or the Fixed Account Value, we will process the partial surrender for the amount available and contact you for further instructions. Under Options A, B and C, we We will reduce the Contract Value by the partial surrender amount. In addition, for under Option A, we will reduce the Specified Amount by Amount. The amount of this reduction will be the partial surrender amount minus the excess, if any, of the death benefit over the Specified Amount at the time the partial surrender is made. However, if the partial surrender amount is less than or equal to the any excess of the death benefit over the Specified Amount, we will not reduce the Specified Amount. We have the right to require that the ICC19J210 Specified Amount remaining in force after any partial surrender be at least equal to the minimum Minimum Specified Amount shown in Section 1, Contract Data. Certain federal income tax consequences may apply to partial surrenders from the contractsurrenders. You should consult with your tax advisor before requesting any a partial surrenderssurrender.

Partial Surrenders. You may surrender a portion make scheduled and unscheduled partial surrenders of this contract by providing Us Notice. Partial surrenders reduce the Accumulated Value of the Contract Value contract and have the Proceeds paid to you in a lump sum. A partial surrender must occur before the death of the Insured while the contract is in force. The partial surrender amount will be the Proceeds, plus the partial surrender fee shown in Section 1, Contract Data. The minimum amount for a partial surrender is $500. The maximum partial surrender is the Cash Surrender Value, less $300. We will deduct the partial surrender amount are deducted from the Contract Value on Investment Options in the day we receive Written Notice for the partial surrender. We will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account according to your instructionssame proportion as Your current premium payment allocations unless You direct otherwise. If you provide no instructions, we will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account on a pro-rata basis. In the event that the partial surrender amount exceeds the Subaccount value and/or the Fixed Account Value, we will process the partial surrender for the amount available and contact you for further instructions. Under Options A, B and C, we will reduce the Contract Value by the partial surrender amount. In addition, for Option A, we will reduce the Specified Amount by the partial surrender amount minus the excess, if any, of the death benefit over the Specified Amount at the time the partial surrender is made. However, if the partial surrender amount is less than or equal the remaining Free Surrender Amount for that Contract Year, no surrender charge will apply. Partial surrenders that exceed the remaining Free Surrender Amount for that Contract Year are subject to the excess of the death benefit over the Specified Amount, we will not any applicable surrender charge. Any unscheduled partial surrender that would reduce the Specified AmountAccumulated Value to less than the Minimum Accumulated Value After An Unscheduled Partial Surrender amount shown on the Data Page will be treated as a request for full surrender of this contract. We have reserve the right to require that change the Specified Amount remaining in force after any partial surrender Minimum Accumulated Value After An Unscheduled Partial Surrender amount but it will never be at least equal to greater than the minimum Specified Amount amount shown in Section 1, Contract Dataon the Data Page. Certain federal income tax consequences may apply to The Minimum Unscheduled Partial Surrender amount is shown on the Data Page. The Minimum Accumulated Value To Initiate A Scheduled Partial Surrender is shown on the Data Page. Scheduled partial surrenders will: 1. occur on a date and in an amount You specify in the Notice, other than the 29th, 30th or 31st of any month; 2. occur either annually, semi-annually, quarterly or monthly, as specified in Your Notice; and 3. continue until the Accumulated Value is zero or We receive Notice to stop scheduled partial surrenders. SURRENDER CHARGE The surrender charge Percentages are shown on the Data Page. If any surrender amount requested is greater than the Free Surrender Amount as shown on the Data Page, then the surrender charge is calculated as follows: (Surrender amount requested - any remaining Free Surrender Amount) x surrender charge Percentage. For a full surrender, any surrender charge will be deducted from the contractAccumulated Value. You should consult with your tax advisor before requesting any For a partial surrenderssurrender, the surrender charge will be deducted pro-rata from the Investment Options from which the amount is surrendered.

Partial Surrenders. You may surrender a portion of the Contract Value and have the Proceeds paid to you in at any time by submitting a lump sumWritten Notice. A partial surrender must occur before the death of the Insured while the contract is in force. The partial surrender amount will be the Proceeds, amount you request plus the partial surrender fee charge shown in Section 1, Contract Data. The minimum amount for a partial surrender is $500. The maximum partial surrender is the Cash Surrender Value, less $300. We will deduct the partial surrender amount from the Contract Value on the day we receive Written Notice for the partial surrender. We will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account according to your instructions. If you provide no instructions, we will deduct the partial surrender amount from the Subaccounts and/or the Fixed Account on a pro-rata basis. In the event that the partial surrender amount exceeds the Subaccount value and/or the Fixed Account Value, we will process the partial surrender for the amount available and contact you for further instructions. Under Options A, B and C, we We will reduce the Contract Value by the partial surrender amount. In addition, for under Option A, we will reduce the Specified Amount by Amount. The amount of this reduction will be the partial surrender amount minus the excess, if any, of the death benefit over the Specified Amount at the time the partial surrender is made. However, if the partial surrender amount is less than or equal to the any excess of the death benefit over the Specified Amount, we will not reduce the Specified Amount. We have the right to require that the Specified Amount remaining in force after any partial surrender be at least equal to the minimum Minimum Specified Amount shown in Section 1, Contract Data. ICC19J210 19 Certain federal income tax consequences may apply to partial surrenders from the contractsurrenders. You should consult with your tax advisor before requesting any a partial surrenderssurrender.