Common use of Surrender Fee Clause in Contracts

Surrender Fee. Length of Time from Surrender Fee Certificate Effective Date (Percentage of Net (Years) Purchase Payment Withdrawn) Less than 1 year 7% 1 year but less than 2 7% 2 years but less than 3 6% 3 years but less than 4 6% 4 years but less than 5 5% 5 years but less than 6 4% 6 years but less than 7 2% 7 years or more 0% After seven years have elapsed from the certificate effective date, the Surrender Fee will no longer be assessed.

Surrender Fee. Length of Time from Surrender Fee (Percentage Certificate Effective Date (Percentage of Net Purchase Payment (Years) Purchase Payment Withdrawn) Less than 1 year 7% 1 year but less than 2 7% 2 years but less than 3 6% 3 years but less than 4 6% 4 years but less than 5 5% 5 years but less than 6 4% 6 years but less than 7 2% 7 years or more 0% After seven years have elapsed from the certificate effective date, the Surrender Fee will no longer be assessed.

Surrender Fee. Length of Time from Surrender Fee Certificate Contract Effective Date (Percentage of Net Date (Years) Net Purchase Payment Withdrawn) Less than 1 year 7% 1 year but less than 2 7% 2 years but less than 3 6% 3 years but less than 4 6% 4 years but less than 5 5% 5 years but less than 6 4% 6 years but less than 7 2% 7 years or more 0% After seven years have elapsed from the certificate contract effective date, the Surrender Fee will no longer be assessed.

Surrender Fee. Length of Time from Surrender Fee Certificate Contract Effective Date (Percentage of Net Date (Years) Purchase Payment Withdrawn) Less than 1 year 7% 1 year but less than 2 7% 2 years but less than 3 6% 3 years but less than 4 6% 4 years but less than 5 5% 5 years but less than 6 4% 6 years but less than 7 2% 7 years or more 0% After seven years have elapsed from the certificate contract effective date, the Surrender Fee will no longer be assessed.