Common use of Partial Withdrawal Charge Clause in Contracts

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= Partial withdrawal charge percentage (depending on the policy year at the point of the withdrawal request) X Amount withdrawn Please refer to the table below for the partial withdrawal charge percentage. 1 7% 2 7% 3 6% 4 6% 5 5% We reserve the right to revise the partial withdrawal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.