Common use of Surrender Proceeds Clause in Contracts

Surrender Proceeds. We will pay proceeds of a full surrender as either a lump sum or under a payment option as described in Section 10, Payment of Proceeds. Unless you specify otherwise, we will pay full surrender proceeds as a lump sum. Surrender proceeds will be equal to the cash surrender value as described in Section 5.6. The amount of proceeds payable under the Partial Surrender Provision is defined in Section 5.7. We will only pay out partial surrender proceeds as a lump sum or under the Systematic Partial Surrender Plan described in Section 5.8.

Surrender Proceeds. We will pay proceeds of a full surrender as either a lump sum or under a payment option as described in Section 10, Payment of Proceeds. Unless you specify otherwise, we will pay full surrender proceeds as a lump sum. Surrender proceeds will be equal to to: (1) the cash surrender value as described in Section 5.65.6 if you choose a lump sum or payment options 1, 2 or 3: or (2) the contract value as described in Section 5.1 if you choose payment options 4 or 5. The amount of proceeds payable under the Partial Surrender Provision is defined in Section 5.7. We will only pay out partial surrender proceeds as a lump sum or under the Systematic Partial Surrender Plan described in Section 5.8.

Surrender Proceeds. We will pay proceeds of a full surrender as either a lump sum or under a payment option as described in Section 10, Payment of Proceeds. Unless you specify otherwise, we will pay full surrender proceeds as a lump sum. Surrender proceeds will be equal to to: (1) the cash surrender value as described in Section 5.65.5 if you choose a lump sum or payment options 1, 2 or 3: or (2) the contract value as described in Section 5.1 if you choose payment options 4 or 5. The amount of proceeds payable under the Partial Surrender Provision is defined in Section 5.75.6. We will only pay out partial surrender proceeds as a lump sum or under the Systematic Partial Surrender Plan described in Section 5.85.7.

Surrender Proceeds. We will pay proceeds of a full surrender as either a lump sum or under a payment option as described in Section 10, Payment of Proceeds. Unless you specify otherwise, we will pay full surrender proceeds as a lump sum. Surrender proceeds will be equal to to: (1) the cash surrender value as described in Section 5.65.6 if you choose a lump sum or payment options 1, 2 or 3; or (2) the contract value as described in Section 5.1 if you choose payment options 4 or 5. The amount of proceeds payable under the Partial Surrender Provision is defined in Section 5.7. We will only pay out partial surrender proceeds as a lump sum or under the Systematic Partial Surrender Plan described in Section 5.8.