Common use of Partial Withdrawal Clause in Contracts

Partial Withdrawal. You may withdraw a portion of the unloaned Contract Value. For a partial withdrawal, we calculate the Withdrawal Value this way: Withdrawal Value = Contract Value Withdrawn minus Withdrawal Charge Some or all of the amount withdrawn may be eligible for a waiver of the Withdrawal Charge as described in Section 7F. On a nondiscriminatory basis, we reserve the right to impose a charge $25 for each partial withdrawal and to limit the number of partial withdrawals you may make. Unless we agree, on a nondiscriminatory basis, each partial withdrawal must be at least $1,000, including those under Section 7F. Following a partial withdrawal, the remaining Contract Value must be at least the greater of a or b, where: a = $1,000; and b = Outstanding Loan Balance/85% The Outstanding Loan Balance, Withdrawal Charges, and any applicable taxes will not be included in the amount payable to you. Unless we agree otherwise, the withdrawal will be made on a pro-rata basis from all unloaned portions of Sub-Accounts, Fixed Account A and Fixed Account B immediately prior to the withdrawal.

Appears in 1 contract

Samples: Separate Account One of Northern Life Insurance Co

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Partial Withdrawal. You may withdraw a portion of the unloaned Contract Value. For a partial withdrawal, we calculate the Withdrawal Value this way: Withdrawal Value = Contract Value Withdrawn minus Withdrawal Charge Some or all of the amount withdrawn may be eligible for a waiver of the Withdrawal Charge as described in Section 7F. On a nondiscriminatory basis, we reserve the right to impose a charge $25 for each partial withdrawal and to limit the number of partial withdrawals you may make. Unless we agree, on a nondiscriminatory basis, each partial withdrawal must be at least $1,000, including those under Section 7F. Following a partial withdrawal, the remaining Contract Value must be at least the greater of a or b, where: a = $1,000; and b = Outstanding Loan Balance/85% The Outstanding Loan Balance, . Withdrawal Charges, and any applicable taxes will not be included in the amount payable to you. Unless we agree otherwise, the withdrawal will be made on a pro-rata basis from all unloaned portions of Sub-Accounts, Fixed Account A and Fixed Account B immediately prior to the withdrawal.

Appears in 1 contract

Samples: Separate Account One of Northern Life Insurance Co

Partial Withdrawal. You may withdraw a portion of the unloaned Contract Value. For a partial withdrawal, we calculate the Withdrawal Value this way: Withdrawal Value = Contract Value Withdrawn minus Withdrawal Charge Some or all of the amount withdrawn may be eligible for a waiver of the Withdrawal Charge as described in Section 7F. 7G. On a nondiscriminatory basis, we reserve the right to impose a charge $25 for each partial withdrawal and to limit the number of partial withdrawals you may make. Unless we agree, on a nondiscriminatory basis, each partial withdrawal must be at least $1,000, including those under Section 7F. 7G. Following a partial withdrawal, the remaining Contract Value must be at least the greater of a or b, where: a = $1,000; and b = Outstanding Loan Balance/85% The Outstanding Loan Balance, Withdrawal Charges, and any applicable taxes will not be included in the amount payable to you. Unless we agree otherwise, the withdrawal will be made on a pro-rata basis from all unloaned portions of Sub-Accounts, Fixed Account A and Fixed Account B immediately prior to the withdrawal.

Appears in 1 contract

Samples: Separate Account One of Northern Life Insurance Co

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Partial Withdrawal. You may withdraw a portion of the unloaned Contract Value. For a partial withdrawal, we calculate the Withdrawal Value this way: Withdrawal Value = Contract Value Withdrawn minus Withdrawal Charge Some or all of the amount withdrawn may be eligible for a waiver of the Withdrawal Charge as described in Section 7F. 7E. On a nondiscriminatory basis, we reserve the right to impose a charge $25 for each partial withdrawal and to limit the number of partial withdrawals you may make. Unless we agree, on a nondiscriminatory basis, each partial withdrawal must be at least $1,000, including those under Section 7F. 7E. Following a partial withdrawal, the remaining Contract Value must be at least the greater of a or b, where: a = $1,000; and b = Outstanding Loan Balance/85% The Outstanding Loan Balance, . Withdrawal Charges, and any applicable taxes will not be included in the amount payable to you. Unless we agree otherwise, the withdrawal will be made on a pro-rata basis from all unloaned portions of Sub-Accounts, Fixed Account A and Fixed Account B immediately prior to the withdrawal.

Appears in 1 contract

Samples: Separate Account One of Northern Life Insurance Co

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