Common use of Partial Withdrawals Clause in Contracts

Partial Withdrawals. The Owner may make a partial withdrawal from the Annuity Account Value at any time, by Request, prior to the Annuity Commencement Date and subject to the terms of this Contract. By Request, the Owner must elect the Sub-Account or combination of them, from which a partial withdrawal is to be made and the amount to be withdrawn from each Sub-Account. Partial withdrawals from the Income Segment are subject to the terms of the Rider. The minimum partial withdrawal amount is $500. After any partial withdrawal, if the remaining Investment Segment Account Value is less than $2,000, and no contributions have been made for at least two years, then a full surrender of the Investment Segment may be required. The Annuity Account Value will be reduced by the partial withdrawal amount and the Guaranteed Minimum Death Benefit, if applicable, will be reduced on a pro-rated basis.

Appears in 4 contracts

Samples: Individual Flexible Premium Variable Annuity (Variable Annuity-2 Series Account), Individual Flexible Premium Variable Annuity (Variable Annuity-2 Series Account of Great-West Life & Annuity Ins. Co.), Individual Flexible Premium Variable Annuity (Variable Annuity-2 Series Account)

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Partial Withdrawals. The Owner Owner, by Request, may make a partial withdrawal from the Annuity Account Value at any time, by Request, prior to during the Annuity Commencement Date and subject to the terms of this ContractAccumulation Period. By Request, the The Owner must elect the Sub-Account or combination of them, Account(s) from which a partial withdrawal is to be made and the amount to be withdrawn from each Sub-Account. Partial withdrawals from the Income Segment are subject to the terms of the Rider. The minimum partial withdrawal amount is $500. After any partial withdrawal, if the remaining Investment Segment Account Value is less than $2,000, and no contributions have been made for at least two years, then a full surrender of the Investment Segment may be required. The Annuity Account Value will be reduced by the partial withdrawal amount and the Guaranteed Minimum Death Benefitguaranteed minimum death benefit, if applicable, will be reduced on a pro-rated basis.. J466-NYrev 12

Appears in 1 contract

Samples: Annuity Contract (Variable Annuity I Ser Acc of GRT West Li & Annu Ins Co of Ny)

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