Cash Surrender Value. The Cash Surrender Value, while the Annuitant is living and before the Annuity Commencement Date, is determined as follows:
Cash Surrender Value. The Cash Surrender Value on any day is equal to the Accumulated Value less the sum of:
Cash Surrender Value. The Cash Surrender Value, while the Annuitant is living and before the Annuity Commencement Date, is determined as follows: (1)We take the Contract's Accumulation Value; (2)We adjust for any applicable Market Value Adjustment; (3)We deduct any Surrender Charges; (4)We deduct any charges shown in the Schedule that have been incurred but not yet deducted, including: (a)any administrative charge that has not yet been deducted; (b)the pro rata part of any charges for Optional Benefit Riders; and (c)any applicable premium or other tax. Cancelling to Receive the Cash Surrender Value At any time while the Annuitant is living and before the Annuity Commencement Date, you may surrender this Contract to us. To do this, you must return this Contract with a signed request for cancellation to our Customer Service Center. The Cash Surrender Value will vary daily. We will determine the Cash Surrender Value as of the date we receive the Contract and your signed request in our Customer Service Center. All benefits under this Contract will then end. We will usually pay the Cash Surrender Value within seven days; but, we may delay payment as described in the Payments We May Defer provision. PARTIAL WITHDRAWAL OPTION After the Contract Date, you may make Partial Withdrawals. Partial Withdrawals may be subject to a Partial Withdrawal Charge (see the Schedule). The minimum amount that may be withdrawn is shown in the Schedule. The maximum amount that may be withdrawn without Surrender Charge is shown in the Schedule. To take a Partial Withdrawal, you must provide us satisfactory notice at our Customer Service Center. PROCEEDS PAYABLE TO THE BENEFICIARY Prior to the Annuity Commencement Date If the sole Owner dies prior to the Annuity Commencement Date, we will pay the Beneficiary the death benefit. If there are joint Owners and any Owner dies, we will pay the surviving Owners the death benefit. We will pay the amount on receipt of due proof of the Owner's death at our Customer Service Center. Such amount may be received in a single lump sum or applied to any of the Annuity Options (see Choosing an Income Plan). When the Owner (or all Owners where there are joint Owners) is not an individual, the death benefit will become payable on the death of the Annuitant prior to the Annuity Commencement Date (unless a Contingent Annuitant survived the Annuitant). Only one death benefit is payable under this Contract. In all events, distributions under the Contract must be made as required ...
Cash Surrender Value. This Policy does not have any cash surrender value.
Cash Surrender Value. The Cash Surrender Value is the Contract Account Value, less any applicable Surrender Charge. The Cash Surrender Value will be determined on the date we receive your Written Notice for surrender and this Contract at our Service Center. You may surrender this Contract for its Cash Surrender Value at any time before the earlier of the death of the Annuitant or the Maturity Date. You may elect to have the Cash Surrender Value (less any applicable deduction for premium tax) paid in a single sum or under a Payment Option. This Contract ends when we pay the Cash Surrender Value or apply such sum under a Payment Option.
Cash Surrender Value. The Cash Surrender Value is determined as follows:
Cash Surrender Value. The cash surrender value is equal to the Contract value less any applicable withdrawal charges and fees as shown on the Contract Specifications, less any taxes deducted upon surrender, and any outstanding loan balance. The guaranteed cash surrender value of the Fixed Account equals the guaranteed value of the Fixed Account less any applicable charges and fees as shown on the Contract Specifications, less any taxes deducted upon surrender and less any outstanding loan balance. For guaranteed cash surrender values of the Fixed Account, refer to the Table of Values. CASH SURRENDER You may elect by Written Request to receive the cash surrender value before the Maturity Date and without the consent of any beneficiary unless irrevocably named. You may elect either a full or partial surrender of the cash surrender value. In the case of a full surrender, this Contract will be canceled. A partial surrender will result in the reduction of Your Contract value and death benefit proceeds. If You have a balance in more than one Funding Option, Your Contract value will be reduced from all Your Funding Options on a pro rata basis, unless You request otherwise. The cash surrender value will be determined as of the next Valuation Date following receipt of Your Written Request. We may delay payment of the cash surrender value of the Funding Options for a period of not more than five business days after Your Written Request is recorded. We may delay payment of the cash surrender value of the Fixed Account for a period of not more than six months after We receive Your Written Request.
Cash Surrender Value. Upon the death of an employee or his/her retirement under either the Public School Employees' Retirement Act, Social Security or ten (10) calendar years of service, the employee will receive cash value for fifty percent (50%) of his/her accumulated sick leave.
