Payment of Surrender Value. Under certain emergency conditions, as allowed by law, Aetna may defer payment for a period of up to 6 months.
Payment of Surrender Value. 20 3.18 Reinstatement.................................................... 20
Payment of Surrender Value. 25 3.16 Reinstatement........................................................25 3.17 Payment of Adjusted Current Value....................................25
Payment of Surrender Value. The Contract Holder may surrender this Contract for its Current Value. At the time of a Contract Holder full or partial surrender request, the Current Value will be adjusted by the following items in the order presented:
(a) the GAA MVA, as applicable (see 3.17(b)); (b) the Maintenance Fee, as applicable (see 3.04); and (c) the Surrender Fee, as applicable (see 3.14). Full and partial surrenders are satisfied by withdrawing amounts from each of the Fund(s), the Fixed Account, the GAA Short Term Classification and the GAA Long Term Classification on a pro rata basis. However, the Contract Holder may specify a particular order in which investment options will be liquidated in order to satisfy a partial surrender request.
Payment of Surrender Value. By way of continuing covenant and agreement, when a Membership is surrendered, whether voluntarily or otherwise, and should Borrower determine the Dues Repayment Benefits or Surrender Payment Benefit (as those terms are defined in the governing documents of the Club, collectively herein, the
Payment of Surrender Value. The Contract Holder or Participant, as applicable, may make a full surrender from the Fixed Plus Account II A as follows:
(a) The Contract Holder may withdraw the sum of the value of all Individual Accounts under the Contract provided the Contract Holder controls the Contract; and
(b) A Participant or the Contract Holder, as applicable, may withdraw the entire value of the Individual Account(s) established for that Participant subject to the terms of this provision. Once we receive a full surrender request in Good Order at our Home Office, no additional Transfers, partial surrenders or loans are allowed. For a full surrender (which excludes benefit payments) paid to a Contract Holder or to a Participant, we will pay the applicable amount, with interest in accordance with the terms of the Contract, as follows:
(1) One-fifth of the following amount: The value of the sum of all Individual Accounts, as applicable, in the Fixed Plus Account II A as of the Business Day we receive the request in Good Order at our Home Office reduced by the amount, if any, transferred, taken as a loan or withdrawn either by the Contract Holder or Participant, or used to purchase Annuity payments during the prior 12 months; then
(2) One-fourth of the remaining amount 12 months later reduced by the amount, if any, transferred, taken as a loan or withdrawn either by the Contract Holder or Participant, or used to purchase Annuity payments during the prior 12 months; then
(3) One-third of the remaining amount 12 months later reduced by the amount, if any, transferred, taken as a loan or withdrawn either by the Contract Holder or Participant, or used to purchase Annuity payments during the prior 12 months; then
(4) One-half of the remaining amount 12 months later reduced by the amount, if any, transferred, taken as a loan or withdrawn either by the Contract Holder or Participant, or used to purchase Annuity payments during the prior 12 months; then
(5) The balance of the Current Value in the Fixed Plus Account II A 12 months later. GC401-IB(X-M)-22 [16] Payment of the applicable amount from the Fixed Plus Account II A as described above does not apply when due to any of the following:
(a) When the amount in the Fixed Plus Account II A is $5,000 or less (or, if applicable, as otherwise allowed by the Plan for a lump-sum cash-out initiated by the Contract Holder without Participant consent) and during the previous 12 months no amounts have been withdrawn, transferred, taken as a loan, or ...
Payment of Surrender Value. 16 3.11 PAYMENT OF ADJUSTED CURRENT VALUE................................17
Payment of Surrender Value. Under certain emergency conditions, as allowed by law, Xxxxx xxx xxxxx payment for a period of up to 6 months.
Payment of Surrender Value. 8 3.14 Distribution Options (Estate Conservation Option (ECO) Systematic Withdrawal Option (SWO))................................9 3.15 Reinstatement......................................................9
Payment of Surrender Value. Under certain emergency conditions, Aetna may defer payment;
(a) For a period of up to 6 months (unless not allowed by state law); or
(b) As provided by federal law. Aetna may pay any Fixed Account Surrender Value with interest in equal payments over a period not to exceed 60 months when the amounts held in the Fixed Account under this Contract exceed $500,000. This will apply only if the sum of the amounts surrendered within the past 12 months exceeds 20% of such Fixed Account amount. Interest, as used above, will not be more than two percentage points below any rate determined prospectively by the Board of Directors for this class of Contract. In no event, will the interest rate be less than 4%.
