Partial Withdrawal Charge Clause Samples
A Partial Withdrawal Charge clause defines the fee or penalty imposed when a policyholder withdraws a portion of funds from an account or policy before a specified period or under certain conditions. Typically, this charge is calculated as a percentage of the withdrawn amount and may decrease over time as the policy matures. The core function of this clause is to discourage frequent or early withdrawals, thereby protecting the financial stability of the policy or investment and ensuring that long-term objectives are met.
Partial Withdrawal Charge. Partial withdrawal charge is payable if You request for partial withdrawal during the first five (5) policy years. The partial withdrawal charge is calculated as below: Partial withdrawal charge = Partial withdrawal charge percentage (depending on the policy year at the point of the withdrawal request) X Amount withdrawn Please refer to the table below for the partial withdrawal charge percentage. 1 7% 2 7% 3 6% 4 6% 5 5% We reserve the right to revise the partial withdrawal charge by giving You thirty (30) days’ written notice.
Partial Withdrawal Charge. Partial withdrawal charge is payable if You request for partial withdrawal(s) from the Regular Premium Account value during the premium payment term. The partial withdrawal charge is to be deducted from the withdrawn amount prior to paying out to You. The partial withdrawal charge is calculated as below: Partial withdrawal charge = Partial withdrawal charge percentage (depending on the Policy year at the point of the withdrawal request) X Amount withdrawn Please refer to the table below for the partial withdrawal charge percentage. Policy year Partial withdrawal charge percentage
Partial Withdrawal Charge. Partial withdrawal charge is payable if You request for partial withdrawal(s) from the Regular Premium Account value during the premium payment term. The partial withdrawal charge is to be deducted from the withdrawn amount prior to paying out to You. The partial withdrawal charge is calculated as below: Partial withdrawal charge = Partial withdrawal charge percentage (depending on the Policy year at the point of the withdrawal request) X Amount withdrawn Please refer to the table below for the partial withdrawal charge percentage. Policy year Partial withdrawal charge percentage * Partial Withdrawal Limit apply The Partial Withdrawal Limit is calculated as below: Partial Withdrawal Limit = 50% of total regular Premium paid – All partial withdrawals made from the Regular Premium Account, subject to a remaining Regular Premium Account value of S$1,000 "All partial withdrawals made from the Regular Premium Account" refers to all past partial withdrawal amounts paid to You from the Regular Premium Account including partial withdrawal charge imposed. If the balance in the Regular Premium Account is insufficient to cover the applicable fees and charges due, the Policy will lapse and the remaining units in the Top-up Account (if any) will be payable to You as surrender value. We reserve the right to revise the partial withdrawal charge by giving You thirty (30) days’ written notice. There is no partial withdrawal charge on the Top-up Account.