Free Withdrawal Amount. 11 Withdrawals.......................................................................................11
Free Withdrawal Amount. Each Contract Year, you may withdraw a portion of your Contract Value free from any deferred sales charge. This amount is called the “free withdrawal amount”. The free withdrawal amount is not available upon full surrender of the contract. The free withdrawal amount is equal to 10% of any Purchase Payments not previously withdrawn and received in the current Contract Year plus the greater of:
Free Withdrawal Amount. The amount available for withdrawal without incurring a Surrender Charge. The Free Withdrawal Amount is shown on the Specifications Page.
Free Withdrawal Amount. Each Contract Anniversary, You may withdraw or surrender a portion of Your Contract Value free from any Surrender Charge. The Free Withdrawal Amount available each Contract Anniversary is equal to [10%] of Remaining Purchase Payments subject to a Surrender Charge or required minimum distribution, if greater. Any unused portion of Your Free Withdrawal Amount cannot be carried forward to subsequent Contract years. We determine that the oldest Purchase Payment is the first Purchase Payment considered to be withdrawn. If the amount withdrawn exceeds the amount of the oldest Purchase Payment, the next oldest Purchase Payment is considered to be withdrawn, and so on until the most recent Purchase Payments are deemed to be withdrawn (the procedure being applied to withdrawals from your Contract Value is “First-In, First-Out” or FIFO procedure). A Surrender Charge will not be assessed against withdrawals taken to satisfy required minimum distribution requirements (RMDs) under [Section 401(a)(9) of the Internal Revenue Code (IRC)]. Withdrawals to satisfy any required minimum distributions would reduce the amount available under Your Free Withdrawal Amount.
Free Withdrawal Amount. After the first Contract Year, you may withdraw a portion of your Account Value free from any Withdrawal Charge. The Free Withdrawal Amount each Contract Year is equal to 10% of your Account Value as of the prior Contract Anniversary, less the total amount withdrawn from the Account Value in the current Contract Year. The Free Withdrawal Amount is non-cumulative and is not carried over to other Contract Years. Systematic Withdrawal Program For automated processing of RMD amounts withdrawn from an IRA Contract or qualified annuity Contract, you may elect this program in any Contract year. However, for automated processing of amounts withdrawn for purposes other than RMDs, you may elect this program after the first Contract Year for up to 10% of your Account Value as of the prior Contract Anniversary. We do not assess a charge for this program. You can receive payments monthly, quarterly, or annually provided that each payment must amount to at least $100 (a minimum of $500 must be distributed per Contract Year). We reserve the right to change the required minimum or the availability of this program. If the New York Stock Exchange is closed on a day when the withdrawal is to be made, we will process the withdrawal on the next Business Day. While the Systematic Withdrawal Program is in effect, you can make additional withdrawals. However, such withdrawals, in addition to the systematic withdrawals, will be considered when determining the applicability of any Withdrawal Charge. Withdrawals under the Systematic Withdrawal Program may either be drawn proportionally from all Shield Options and the Fixed Account to which you are allocated, or you can designate specific Shield Option(s) and/or the Fixed Account from which the withdrawal will be drawn. Each withdrawal, systematic or otherwise, will reduce the Investment Amount for each Shield Option by the same percentage reduction in the Interim Value of such Shield Option (i.e., a proportional reduction). Therefore, a withdrawal when Index Performance is negative will cause a greater percentage reduction in the remaining Investment Amount relative to the percentage reduction for the same Withdrawal Amount when Index Performance is positive. Each withdrawal from the Fixed Account reduces the value of that account by the amount of the withdrawal (dollar for dollar). If you choose proportional withdrawals, all withdrawals are drawn from the Shield Options and Fixed Account in the ratio that each Shield Option(s) and/...
Free Withdrawal Amount. Each Contract Year, a 10% withdrawal amount is available free from any deferred sales charge as defined on pages 7 and 8. ICC20-70632 [A123456] Minnesota Life 1a Annual Maintenance Fee:
Free Withdrawal Amount. During the first Contract Year you may withdraw an amount equal to 15% of your initial Purchase Payments without incurring a surrender charge. In any subsequent Contract Year you may withdraw, without incurring a surrender charge, an amount equal to the greatest of: (1) the earnings in your Contract as of the prior Contract Anniversary, if any; or, (2) 15% of your cumulative Purchase Payments as of the prior Contract Anniversary; or, (3) 15% of the Contract Value as of the prior Contract Anniversary. This is called the "free withdrawal amount". For the purpose of determining the free withdrawal amount, earnings equal the Contract Value on the prior Contract Anniversary minus Purchase Payments not previously assessed with a surrender charge. Withdrawals in excess of the free withdrawal amount during any Contract Year may be subject to the surrender charge. Determining the Surrender Charge — Prior to the {fifth} Contract Anniversary, we calculate the surrender charge by multiplying surrendered Contract Value in excess of any free withdrawal amount by its applicable surrender charge percentage, as shown on the Certificate. We will not assess a surrender charge on surrenders or partial surrenders after the {fifth} Contract Anniversary.
Free Withdrawal Amount. In regard to the first surrender in any contract year, the cash value of amounts surrendered up to 10% of the owner's account value will be determined without deduction of the percentage charges described in section 3.09 (the "free withdrawal amount"). Amouxxx xxxrendered later or in excess of this amount will be subject to such percentage charges.
Free Withdrawal Amount. The Free Withdrawal Amount each contract year is equal to the Annual Free Withdrawal Percentage (as specified on Page 3) multiplied by the cumulative Purchase Payments as of the date of the request less any prior free withdrawals taken during that contract year. The Free Withdrawal Amount first becomes available as specified on Page 3. The Free Withdrawal Amount will be applied to the Purchase Payments that have been in the Contract for the longest period of time. Premature Withdrawal Charge. This charge will be deducted from any amount withdrawn from the Fixed Interest Options shown on Page 3 with an Interest Period longer than one year, before the end of the period for which a declared effective annual interest rate is guaranteed on such amount, as outlined under Contract Charges and Deductions.
Free Withdrawal Amount. 110 Suspension or Deferral of Payments...........................................110 ANNUITY PROVISIONS...........................................................110
