COMMISSION CHARGEBACK PROVISIONS. No Commission chargebacks are applicable to any partial withdrawals, full surrenders or death claims except in the event of a free look surrender. SBL will charge back 100% of commissions in the event of a free look surrender.
COMMISSION CHARGEBACK PROVISIONS. No Commission chargebacks are applicable to any partial withdrawals, full surrenders or death claims except in the event of a free look surrender or for Contracts that have selected a CDSC Rider. In the event of a full withdrawal during the first 18 months of a Contract with a CDSC rider, SBL will charge back 100% of commissions paid in connection with the Contract. In the event of a partial withdrawal that exceeds the Free Withdrawal Amount as defined in the Contract during the first eighteen (18) months of a Contract with a CDSC Rider, SBL will charge back 100% of commissions paid in connection with the withdrawal amount that exceeds the Free Withdrawal Amount. SBL will also charge back 100% of commissions in the event of a free look surrender.
COMMISSION CHARGEBACK PROVISIONS. No commission chargebacks are applicable to any partial withdrawals, full surrenders, death claims or free look surrenders
COMMISSION CHARGEBACK PROVISIONS. No Commission chargebacks are applicable to any death claims. SDI will charge back up-front commissions paid in connection with the amount of any partial or full withdrawal during the first 12 months of a Contract. SDI will charge back 100% of commissions in the event of a free look surrender.
COMMISSION CHARGEBACK PROVISIONS. Death Benefit Paid in First Contract Year: Any commission paid on a Contract under which a death benefit is paid during the first Contract Year shall be charged back to the Broker/Dealer if the age of any Contract Owner (or Annuitant if the Owner is a non natural person) on the Contract Date was 76 or older. This provision relating to commission chargeback for Death Benefits paid in the first Contract Year is inapplicable to group unallocated contracts.
COMMISSION CHARGEBACK PROVISIONS. Any commissions paid on a contract under which a death benefit is paid during the first five contract years shall be charged back on the following basis if the Contract Owner (or annuitant if the contract was owned by a non-natural person) was 65 years of age or older on the first day of the first contract year: 100% if death occurs in the first contract year, 80% in the second contract year, 60% in the third contract year, 40% in the fourth contract year, and 20% in the fifth contract year. For contracts not specifically set forth above, commissions and asset-based commissions shall be determined by SBL.
COMMISSION CHARGEBACK PROVISIONS. No Commission chargebacks are applicable to any death claims. In the event of a full or partial withdrawal during the first 12 months of a Contract, SBL will charge back 100% of up front commissions paid in connection with the Contract. SBL will charge back 100% of commissions in the event of a free look surrender.
COMMISSION CHARGEBACK PROVISIONS. Full Withdrawals from the Contract: Any commissions paid on Purchase Payments received will be charged back to the Marketing Organization in the event of a full withdrawal within the first two Contract Years based on the schedule below.
COMMISSION CHARGEBACK PROVISIONS. No Commission chargebacks are applicable to any partial withdrawals, full surrenders or death claims except in the event of a free look surrender or for Contracts that have selected a 0-Year Alternate Withdrawal Charge Rider. In the event of a full withdrawal during the first 18 months of a Contract with a 0-Year Alternate Withdrawal Charge rider, SDI will charge back 100% of commissions paid in connection with the Contract. In the event of a partial withdrawal that exceeds the Free Withdrawal Amount as defined in the Contract during the first eighteen (18) months of a Contract with a 0-Year Alternate Withdrawal Charge Rider, SDI will charge back 100% of commissions paid in connection with the withdrawal amount that exceeds the Free Withdrawal Amount. SDI also will charge back 100% of commissions in the event of a free look surrender.
COMMISSION CHARGEBACK PROVISIONS. Full Withdrawals from the Contract: 30% of commissions paid on Purchase Payments received will be charged back to the Broker/Dealer in the event of a full withdrawal within the first Contract Year. Partial Withdrawals in the First Contract Year: A 30% commission chargeback will be made in the first Contract Year on partial withdrawals which exceed the Free Amount. The Free Amount is 10% of the Purchase Payments made as of the date of the partial withdrawal, reduced by any previous withdrawals that were not subject to a chargeback.
