Common use of Surrender Charge Clause in Contracts

Surrender Charge. SAMPLE A Surrender Charge may apply to a withdrawal in excess of the Free Withdrawal Amount or a surrender, depending on the date and amount of such withdrawal or surrender. The Surrender Charge schedule is specified on the Schedule Pages. The charge is calculated by multiplying the Accumulation Value being withdrawn in excess of the Free Withdrawal Amount or surrendered by the appropriate Surrender Charge Percentage shown on the Schedule Pages. After the application of any applicable Market Value Adjustment, Surrender Charges will be applied to the Accumulation Value withdrawn in excess of the Free Withdrawal Amount or surrendered. Surrender Charges will be waived upon death.

Surrender Charge. SAMPLE A Surrender Charge may apply to a withdrawal in excess of the Free Withdrawal Amount or a surrender, depending on the date and amount of such withdrawal or surrender. The Surrender Charge schedule is specified on the Schedule Pages. The charge is calculated by multiplying the Accumulation Value being withdrawn in excess of the Free Withdrawal Amount or surrendered by the appropriate Surrender Charge Percentage shown on the Schedule Pages. After the application of any applicable Market Value Adjustment, Surrender Charges will be applied to the Accumulation Value withdrawn in excess of the Free Withdrawal Amount or surrendered. Surrender Charges will be waived upon death.

Surrender Charge. SAMPLE A Surrender Charge may apply to a withdrawal in excess of the Free Withdrawal Amount or a surrender, depending on the date and amount of such withdrawal or surrender. The Surrender Charge schedule is specified on the Schedule Pages. The charge is calculated by multiplying the Accumulation Value being withdrawn in excess of the Free Withdrawal Amount or surrendered by the appropriate Surrender Charge Percentage shown on the Schedule Pages. After the application of any applicable Market Value AdjustmentMVA, Surrender Charges will be applied to the Accumulation Value withdrawn in excess of the Free Withdrawal Amount or surrendered. Surrender Charges will be waived upon death.