Common use of Surrender of Contract Clause in Contracts

Surrender of Contract. Before the Annuity Commencement Date, you may surrender this contract for its Surrender Value as defined below. The contract will then terminate. We must receive your request for such surrender in Good Order at our Customer Service Office. This contract must be sent to our Customer Service Office for cancellation. The Surrender Value is equal to the Accumulation Value as of the Valuation Date on which we receive your written request for surrender in Good Order less any annuity taxes.

Surrender of Contract. Before the Annuity Commencement Date, you may surrender this contract for its Surrender Value as defined below. The contract will then terminate. We must receive your request for such surrender in Good Order at our Customer Service Office. This contract must be sent to our Customer Service Office for cancellation. The Surrender Value is equal to the Accumulation Value as of the Valuation Date on which we receive your written request for surrender in Good Order less any applicable Surrender Charge, as described below, and any annuity taxes.