Settlement for Redemption. Upon the receipt and acceptance of Your redemption request with all the required documents, the redemption proceeds will be paid to You within seven (7) business days unless dealings have been suspended as specified in the section “Suspension of dealings” below. Note: Redemption applications submitted or Premium received after 3 p.m. (Singapore time) will be processed on the next business day. The following example illustrates how the redemption works assuming You plan to withdraw S$200 from Your Portfolio fund on the fifth (5th) policy year. A 360 S$1.00 30% S$60 60 *S$10 300 B 120 S$2.00 10% S$20 10 110 C 480 S$2.00 40% S$80 40 440 D 240 S$1.60 20% S$40 25 215 Total 1,200 - 100% S$200 - - Net amount to be redeemed = Amount to be redeemed less Fees & Charges = S$200 – S$10 = S$190 *Partial withdrawal charge will be incurred upon the partial withdrawal of the Portfolio fund during the first five (5) policy years. Please refer to Fees and Charges section for more information. ** The actual unit price of units will fluctuate according to the market performance.
Appears in 2 contracts
Sources: Investment Agreement, Policy Contract