SYSTEMATIC WITHDRAWAL definition
SYSTEMATIC WITHDRAWAL. SET-UP CHARGE: Thirty dollars ($30.00). If the total Account balance is twenty-five thousand dollars ($25,000), or greater, such amount will be waived.
SYSTEMATIC WITHDRAWAL. PROGRAM Prior to the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to FS-975 (7/04) 11 make automatic withdrawals from Your Contract Value monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is [$100]. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Withdrawal Charge as discussed in the WITHDRAWAL CHARGE and PENALTY-FREE WITHDRAWALS provisions. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request to Our Annuity Service Center. We reserve the right to modify, suspend or terminate the Systematic Withdrawal Program at any time. Systematic withdrawals will be deducted first from the Penalty-Free Withdrawal amount available each Contract Year.
SYSTEMATIC WITHDRAWAL. The systematic withdrawal program allows you to choose to receive systematic payments monthly, quarterly, semi-annually, or annually. You can instruct us to withdraw a percentage of the value of your contract or a specific dollar amount. All systematic withdrawals will be withdrawn from the Fixed Account and the Sub-accounts on a pro-rata basis, unless instructed otherwise. The systematic withdrawal program will end any time you designate by Formal Request to us. Withdrawals may be subject to a contingent deferred sales charge. We reserve the right to terminate, suspend, or modify this program. PROCEEDS PAYABLE AT DEATH PROVISIONS DEATH OF OWNER DURING ACCUMULATION PERIOD: Upon the death of the Owner, or any Joint Owner, during the Accumulation Period, the death benefit will be paid to the Beneficiary(ies) designated by the Owner(s). Upon the death of a Joint Owner, the surviving Owner will be treated as the primary Beneficiary. Any other Beneficiary designation on record at the time of death will be treated as a contingent Beneficiary. The death benefit must be paid under one of the death benefit options below. However, if the Beneficiary is the spouse of the Owner, he or she may elect to continue the contract, at the then current Contract Value, in his or her own name and exercise all the ownership rights under the contract.
Examples of SYSTEMATIC WITHDRAWAL in a sentence
SYSTEMATIC WITHDRAWAL PROGRAM Prior to the Annuity Date, You may elect to participate in the Systematic Withdrawal Program by informing Us at Our Annuity Service Center.
SYSTEMATIC WITHDRAWAL PROGRAM After the first Policy Year, you may be able to participate in a Systematic Withdrawal Program in lieu of the 10% free withdrawal option.
SPECIAL REDEMPTION FEATURES SYSTEMATIC WITHDRAWAL PROGRAM Shareholders who desire to receive payments of a predetermined amount not less than $100 may take advantage of the Systematic Withdrawal Program.
SYSTEMATIC WITHDRAWAL PROGRAM Prior to the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center.
SYSTEMATIC WITHDRAWAL OPTION RIDER, IF ANY.........................................................................
More Definitions of SYSTEMATIC WITHDRAWAL
SYSTEMATIC WITHDRAWAL. Program"; and 3. "▇▇▇ Income Program". DEMAND WITHDRAWAL OPTION After the Free Look Period and prior to the Annuity Date, you may make a Demand Withdrawal. The minimum Demand Withdrawal amount is $100. The maximum Demand Withdrawal amount is the Cash Surrender Value minus $500. If the amount of Demand Withdrawal you specify exceeds the maximum, the amount of the withdrawal will automatically be lowered to the maximum. Demand Withdrawals are deemed to be withdrawn in the following order:
SYSTEMATIC WITHDRAWAL. PROGRAM On or before the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic withdrawals from Your account monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is $100, provided the Contract Value amount remaining after withdrawal is $500. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request. We reserve the right to modify, suspend or terminate the Systematic Withdrawal Program at any time.
SYSTEMATIC WITHDRAWAL means a cash amount of no less than $50.00 and no more than $5,000.00 monthly that is, at the option of a SWP Plan Participant, sold from their account under the SWP Plan.
SYSTEMATIC WITHDRAWAL. PROGRAM: You may have automatic withdrawals of a specified dollar amount made periodically. We will make these withdrawals from the subaccounts in the same proportion as the value of each subaccount bears to the Contract Value. These systematic withdrawals are in addition to the withdrawals permitted annually under the Contract. The minimum amount of each withdrawal and the remaining Contract Value after a withdrawal is shown in the Contract Schedule. The Systematic Withdrawal Program cannot extend beyond the Annuity Date.
SYSTEMATIC WITHDRAWAL. [Is Available] Option (SWO): The Specified Payment may not be greater than [20%] of the Individual Account's Current Value at the time of election. The Specified Period may not be less than [five years]. The Specified Percentage may not be greater than [20%].
SYSTEMATIC WITHDRAWAL from an account where that shareholder participates in a systematic withdrawal plan; and/or - Redemption of Shares from an account with a checkwriting privilege.
SYSTEMATIC WITHDRAWAL. PROGRAM Prior to the Annuity Date, You may elect to participate in the Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic withdrawals from your account monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is $250 per withdrawal. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Withdrawal Charge and a Market Value Adjustment as discussed in the WITHDRAWAL CHARGE, PENALTY-FREE WITHDRAWALS and MARKET VALUE ADJUSTMENT provisions. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending a written request to Us. Systematic withdrawals will be deducted from the Penalty-Free Withdrawal amount available each Contract Year.