Common use of Surrender Benefit Clause in Contracts

Surrender Benefit. You may surrender your policy in full or partially through partial withdrawal. Upon full surrender, we will pay the surrender benefit in one lump sum which is equivalent to the Account value less surrender charges (if any) and any amounts owing to us. You may request for a full surrender any time after the free look period. We reserve the right to delay the payment of the surrender value for up to a period of six months from the date of your surrender application.

Appears in 4 contracts

Samples: Insurance Agreement, Insurance Agreement, Insurance Agreement

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Surrender Benefit. You may surrender your Your policy in full or partially through partial withdrawalwithdrawal(s). Upon full surrender, we We will pay the surrender benefit Benefit in one lump sum which is equivalent to the Account value value, less surrender charges (if any) and any amounts owing to usUs. You may request for a full surrender at any time after the free look period. We reserve the right to delay the payment of the surrender value for up to a period of six months from the date of your surrender application.

Appears in 3 contracts

Samples: Insurance Policy Agreement, Insurance Policy Agreement, Insurance Policy Agreement

Surrender Benefit. You may surrender your policy in full or partially through partial withdrawal. Upon full surrender, we We will pay the surrender benefit in one lump sum which is equivalent to the Account value value, less surrender charges (if any) and any amounts owing to us. You may request for a full surrender any time after the free look period. We reserve the right to delay the payment of the surrender value for up to a period of six months from the date of your surrender application.

Appears in 2 contracts

Samples: Insurance Agreement, Insurance Agreement

Surrender Benefit. You may surrender your Your policy in full or partially through partial withdrawal. Upon full surrender, we We will pay the surrender benefit in one lump sum which is equivalent to the Account value value, less surrender charges (if any) and any amounts owing to usUs. You may request for a full surrender any time after the free look period. We reserve the right to delay the payment of the surrender value benefit for up to a period of six 6 months from the date of your the surrender applicationrequest. We will exercise this right when there is a surge in withdrawals within the Portfolio during a very short period of time.

Appears in 1 contract

Samples: Policy Provisions

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Surrender Benefit. You may surrender your policy in full or partially through partial withdrawal. Upon full surrender, we We will pay the surrender benefit in one lump sum which is equivalent to the Account value value, less surrender charges (if any) and any amounts owing to us. You may request for a full surrender any time after the free look period. We reserve the right to delay the payment of the surrender value for up to a period of six 6 months from the date of your surrender application.

Appears in 1 contract

Samples: Insurance Agreement

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