Common use of DESCRIPTION OF OPTION PACKAGE Clause in Contracts

DESCRIPTION OF OPTION PACKAGE. I: DEFERRED SALES CHARGE: In addition to the events described in Section III - Deferred Sales Charge, the total amount that may be withdrawn each Account Year without a Deferred Sales Charge cannot exceed 10% of the Account Value less: (1) Any amount(s) withdrawn and/or requested for withdrawal under a Systematic Distribution Option, or (2) Any amount(s) taken as a minimum required distribution as described in SECTION III - DEFERRED SALES CHARGE.

Appears in 4 contracts

Samples: Variable Annuity Contract (Separate Account B of Golden American Life Insurance Co), Variable Annuity Group Master Contract (Golden American Life Insurance Co /Ny/), Variable Annuity Group Master Contract (Separate Account B of Golden American Life Insurance Co)

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