Surrender Charge. If you surrender this policy, there may be a Surrender Charge deducted from the Accumulated Value. During the first policy month, the Surrender Charge is equal to the Initial Amount reduced by one-twelfth of the Reduction Factor. After the first policy month, the Surrender Charge decreases on each Monthly Payment Date by one-twelfth of the Reduction Factor until it becomes zero after the End Year. The Initial Amount, Reduction Factor and End Year are shown in the Table of Surrender Charge Factors in the Policy Specifications.
Appears in 2 contracts
Samples: Pacific Select Exec Separate Acct Pacific Life Ins, Pacific Select Exec Separate Acct Pacific Life Ins
Surrender Charge. If you surrender this policy, there may be a Surrender Charge deducted from the Accumulated Value. During the first policy monthLevel Period, the Surrender Charge is equal to the Initial Amount reduced by one-twelfth of the Reduction FactorAmount. After the first policy monthLevel Period, the Surrender Charge decreases on each Monthly Payment Date by one-twelfth of the Reduction Factor until it becomes zero after the End Year. The Initial Amount, Level Period, Reduction Factor and End Year are shown in the Table of Surrender Charge Factors in the Policy Specifications.
Appears in 2 contracts
Samples: Pacific Select Exec Separate Acct Pacific Life Ins, Pacific Select Exec Separate Acct Pacific Life Ins
