Common use of Surrender Fee Clause in Contracts

Surrender Fee. The Surrender Fee only applies to the Net Purchase Payment(s) portion surrendered and varies according to the elapsed time since deposit (see Contract Schedule I). Net Purchase Payment amounts are withdrawn in the same order they were applied. No Surrender Fee is deducted from any portion of the Current Value which is paid: (a) To a Beneficiary due to the Annuitant's death before ▇▇▇▇▇▇▇ payments start, up to a maximum of the aggregate Net Purchase Payment(s) minus the total of all partial surrenders, amounts applied to an Annuity and deductions made prior to the Annuitant's date of death; (b) As a premium for an Annuity option (see 4.07); (c) As a distribution under the SWO provision (see 3.10);

Surrender Fee. The Surrender Fee only applies to the Net Purchase Payment(s) portion surrendered and varies according to the elapsed time since deposit (see Contract Schedule I). Net Purchase Payment amounts are withdrawn in the same order they were applied. No Surrender Fee is deducted from any portion of the Current Value Net Purchase Payment which is paid: (a) To a Beneficiary due to the Annuitant's death before ▇▇▇▇▇▇▇ Annuity payments start, up to a maximum of the aggregate Net Purchase Payment(s) minus the total of all partial surrenders, amounts applied to an Annuity and deductions made prior to the Annuitant's date of death; (b) As a premium for an Annuity option under this Contract (see 4.07); (c) As a distribution under the SWO provision (see 3.10);

Surrender Fee. The Surrender Fee only applies to the Net Purchase Payment(s) portion surrendered and varies according to the elapsed time since deposit (see Contract Schedule I). Net Purchase Payment amounts are withdrawn in the same order they were applied. No Surrender Fee is deducted from any portion of the Current Value which is paid: (a) To a Beneficiary due to the Annuitant's death before ▇▇▇▇▇▇▇ Annuity payments start, up to a maximum of the aggregate Net Purchase Payment(s) minus the total of all partial surrenders, amounts applied to an Annuity and deductions made prior to the Annuitant's date of death; (b) As a premium for an Annuity option (see 4.07); (c) As a distribution under the SWO provision (see 3.10);