Surrender Charge. Except as described below, if the Contract is Surrendered, in full or in part, while the Surrender Charge schedule shown in the Contract Schedule is in effect a Surrender Charge will be imposed as a percentage of Accumulation Value Surrendered. The percentage imposed at the time of Surrender depends on the number of complete years that have elapsed since Contract issue. Surrender Charges are shown in the Contract Schedule. No Surrender Charges will be assessed upon:
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 The charge is calculated by multiplying the Accumulation Value being withdrawn in excess of the Free Withdrawal Amount or surrendered by the appropriate Surrender Charge Percentage shown on the Schedule Pages.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the application of any applicable Market Value Adjustment, Surrender Charges will be applied to the Accumulation Value withdrawn in excess of the Free Withdrawal Amount or surrendered.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. If you surrender this policy, there may be a Surrender Charge deducted from the Accumulated Value. During the first policy month, the Surrender Charge is equal to the Initial Amount reduced by one-twelfth of the Reduction Factor. After the first policy month, the Surrender Charge decreases on each Monthly Payment Date by one-twelfth of the Reduction Factor until it becomes zero after the End Year. The Initial Amount, Reduction Factor and End Year are shown in the Table of Surrender Charge Factors in the Policy Specifications.
Surrender Charge. The surrender charges are shown on page 3. We will deduct any applicable surrender charge if you surrender the policy. The surrender charge is deducted from Policy Account Value. The surrender charge shown on page 3 is the sum of the surrender charge for the Initial Basic Amount and any increase in Basic Amount. Withdrawal Processing Fee. If you request a withdrawal, we will deduct a withdrawal processing fee in addition to the amount of the withdrawal. The withdrawal processing fee is shown on page 3. Transfer Processing Fee. A number of transfers during each policy year are free as shown on page 3. We reserve the right to assess a transfer fee for each transfer in excess of that number during a policy year. The amount of the fee cannot exceed the amount shown on page 3. For the purpose of assessing this fee, each request is considered one transfer, regardless of the number of Subaccounts affected by the transfer. This fee is deducted on a pro-rata basis from any Subaccount and the Fixed Account from which the transfer is made. All transfers involving the Loan Account are not subject to this provision. -------------------------------------------------------------------------------- ALLOCATION AND TRANSFERS PROVISIONS -------------------------------------------------------------------------------- Allocation of Net Premium Payments. You may allocate Net Premium Payments among the Subaccounts and the Fixed Account. The allocation for the Initial Net Premium Payment and any Net Premium Payments we receive prior to the end of the free-look period is shown on page 3. For purposes of this provision, we presume your free-look period will end on the date shown on page 3. On that date, any Policy Account Value will be transferred to the Subaccounts and the Fixed Account on a pro-rata basis using your allocation instructions for Net Premium Payments in effect at that time. Any additional Net Premium Payments received will be allocated according to your allocation instructions for Net Premium Payments in the application or in a subsequent request. Allocation instructions must be in whole percentages. The minimum amount we can allocate to any Subaccount or the Fixed Account is shown on page 3 as a percentage of any Net Premium Payment. We reserve the right to set additional limitations on premium payment allocations.
Surrender Charge. The charge associated with surrendering either some or all of the Contract Value. The Surrender Charge Schedule is shown in Section 1.06.
Surrender Charge. During the Initial Guarantee Period only, a Surrender Charge may be deducted from the Accumulation Value being withdrawn if you Surrender this Contract or take a Withdrawal, subject to the exceptions noted in this Section 5.5. Surrender Charges will be applied as follows:
Surrender Charge. If you surrender this policy, there may be a Surrender Charge deducted from the Accumulated Value.
Surrender Charge. 11 Transfers........................... 10
Surrender Charge. Surrender charge is payable if You request for full surrender during the first five (5) years. The surrender charge is calculated as below: Surrender charge = Surrender charge percentage (depending on the policy year at the point of the surrender request) X Account value Please refer to the table below for the surrender charge percentage. Policy Year Surrender Charge 1 7% 2 7% 3 6%
Surrender Charge. A Surrender Charge will be applied to Full and Partial Surrenders. For Full Surrenders, the charge is made as a percentage of the Accumulated Value. For Partial Surrenders, the charge is made as a percentage of the amount surrendered (see Section 6.3(2)). The percent applied is shown on page 4. However: For any surrender made more than three years after the Date of Issue, no Surrender Charge will be deducted from the portion of the Accumulated Value surrendered which is paid under: Option 2, 3 or 3V of Section 11.2 provided that payments will be made for at least three years and that the proceeds may not be withdrawn; or Option 4, 4V, 5 or 5V of Section 11.2 or any other life income option agreed to by us; and In each Contract Year you may surrender without a Surrender Charge up to 10% of the Accumulated Value existing at the time the first surrender is made in that Contract Year.
