Net Cash Surrender Value. The Net Cash Surrender Value is the Cash Surrender Value less any Policy Debt.
Net Cash Surrender Value. The Policy Account Value minus any applicable Surrender Charges, minus any outstanding policy loans and accrued interest.
Net Cash Surrender Value. The Net Cash Surrender Value is equal to the Cash Surrender Value minus any policy loan and accrued loan interest. You may give up this policy for its Net Cash Surrender Value at any time while the insured person is living. You may do this by sending us a written request for it and this policy to our Administrative Office. Your written request for cancellation or surrender must include the following:
Net Cash Surrender Value. The Net Cash Surrender Value is the Cash Surrender Value less any Policy Debt. Withdrawals - Upon Written Request on or after the first policy anniversary while the Insured is living, you may withdraw a portion of the Net Cash Surrender Value of this policy. We will deduct a withdrawal fee of $25 from the Accumulated Value for each withdrawal. The withdrawal fee will be deducted from the Investment Options in the same proportion as the withdrawal. Withdrawals will be subject to the following conditions: The amount of each withdrawal must be at least $500 and the Net Cash Surrender Value remaining after each withdrawal must be at least $500. Also, if there is any Policy Debt at the time of each withdrawal, the amount of the withdrawal is limited to the excess, if any, of the Cash Surrender Value immediately prior to the withdrawal over the result of the Policy Debt divided by 90%. The amount of each withdrawal will be allocated proportionately to the Accumulated Value in the Investment Options unless you request otherwise. If the Insured dies after the request for a withdrawal is sent to us and prior to the withdrawal being effected, the amount of the withdrawal will be deducted from the death benefit proceeds, which will be determined without taking the withdrawal into account. A withdrawal will affect the death benefit, depending on the Death Benefit Option you have chosen. If your policy’s death benefit is greater than the Minimum Death Benefit, then the withdrawal will reduce the death benefit by the amount of the withdrawal. However, if your policy’s death benefit is equal to the Minimum Death Benefit, the withdrawal may cause the death benefit to decrease by an amount greater than the amount of the withdrawal. For Death Benefit Option C, if the sum of the withdrawals and other distributions from the policy is greater than the premiums, the death benefit will be less than the Face Amount. Withdrawals may also affect the Face Amount. A withdrawal will reduce the Face Amount, but only for policies having Death Benefit Option A. In such case, a withdrawal in excess of the difference between the Minimum Death Benefit and the Face Amount will reduce the Face Amount by the amount of the excess. If a withdrawal requires a decrease in Face Amount and if there have been prior increases in Face Amount, then the decrease will be applied proportionately to the various coverage amounts. A withdrawal will never increase the Net Amount at Risk.
Net Cash Surrender Value. 4, 13 Annual Report ...................................16
Net Cash Surrender Value. The Net Cash Surrender Value is the Cash Surrender Value less any policy debt. Cash Surrender Value - The Cash Surrender Value is the Accumulated Value less any surrender charge. Withdrawals - Withdrawals of the Net Cash Surrender Value may be taken as follows: Upon written request on or after the first policy anniversary while either insured is living, you may withdraw a portion of the Net Cash Surrender Value of this policy as a partial withdrawal. The Withdrawal Fee described above will apply. A partial withdrawal may cause a decrease in the Face Amount if the Death Benefit Option is A or D. The Face Amount will be reduced by the excess, if any, of the Face Amount over the result of (a) minus (b) where:
Net Cash Surrender Value. 3 other assets........................................................ 3 Parent.............................................................. 1
Net Cash Surrender Value. The Net Cash Surrender Value is equal to the Cash Surrender Value minus any unpaid policy loan and loan interest. You may give up this policy for its Net Cash Surrender Value at any time while the insured person is living. You may do this by sending us a written request for it and this policy to our Administrative Office. We will compute the Net Cash Surrender Value as of the date we receive your request for it and this policy at our Administrative Office. All insurance coverage under this policy ends on such date. SURRENDER CHARGES. If, during a surrender charge period, you give up this policy for its Net Cash Surrender Value or it ends without value at the end of a grace period, we will withdraw the total applicable surrender charges from the Policy Account. The surrender charge applicable to each premium and the surrender charge periods are shown in the Policy Information section. The surrender charge applicable to a premium stays the same throughout a policy year. It changes only at the beginning of the policy year. -------------------------------------------------------------------------------- HOW A LOAN CAN BE MADE POLICY LOANS. You can get a loan on this policy while it has a loan value. This policy will be the only security for the loan. The initial loan and each additional loan must be for at least the minimum loan amount shown on Page 3. Any amount on loan is part of your Policy Account (see below). The loan value on any date is 95% of the Cash Surrender Value on that date. The amount of the loan may not be more than the loan value. Any existing loan and loan interest will be subtracted from a new loan. You may request a policy loan by contacting our Administrative Office. You may tell us how much o the loan is to be allocated from your value in each investment division of our SA. Such values will be determined as of the date we receive your request. If you do not tell us, or if we cannot allocate the loan on the basis of your direction, we will allocate it based on the proportion that your value in each investment division of our SA bears to your total value in the investment divisions. When a loaned amount is allocated from an investment division of our SA, we will redeem units of that investment division sufficient in value to cover the amount of the loan so allocated and transfer that amount to your Loaned Policy Account.
Net Cash Surrender Value. The Net Cash Surrender Value is the Cash Surrender Value less any Policy Debt. Withdrawals – Upon Written Request on or after the first policy anniversary, you may withdraw a portion of the Net Cash Surrender Value of this policy. We reserve the right to charge a fee not to exceed $25 for each withdrawal. Withdrawals will be subject to the following conditions: • The amount of each withdrawal must be at least $200; • The Net Cash Surrender Value remaining after a withdrawal must be at least $500; and • We reserve the right to disallow any withdrawal that would result in a Basic Face Amount of less than $10,000 after the withdrawal. Withdrawals will be deducted from the Accumulated Value. When you take a Withdrawal, the amount of the withdrawal and any withdrawal fee is deducted from the policy’s Investment Options. Unless you provide otherwise, any such deduction will be deducted from the Accumulated Value as an Account Deduction. If Death Benefit Option A is in effect at the time of a withdrawal, and if a requested withdrawal would increase the Net Amount at Risk, we will decrease the Total Face Amount by the minimum amount necessary to prevent the Net Amount at Risk from increasing as a result of the withdrawal, except:
