Common use of Surrender Proceeds Clause in Contracts

Surrender Proceeds. We will pay proceeds of a full surrender as either a lump sum or under a payment option as described in Section 10, Payment of Proceeds. Unless you specify otherwise, we will pay full surrender proceeds as a lump sum. Surrender proceeds will be equal to: (1) the cash surrender value as described in Section 5.5 if you choose a lump sum or payment options 1, 2 or 3: or (2) the contract value as described in Section 5.1 if you choose payment options 4 or 5. The amount of proceeds payable under the Partial Surrender Provision is defined in Section 5.6. We will only pay out partial surrender proceeds as a lump sum or under the Systematic Partial Surrender Plan described in Section 5.7.

Surrender Proceeds. We will pay proceeds of a full surrender as either a lump sum or under a payment option as described in Section 10, Payment of Proceeds. Unless you specify otherwise, we will pay full surrender proceeds as a lump sum. Surrender proceeds will be equal to: (1) the cash surrender value as described in Section 5.5 5.6 if you choose a lump sum or payment options 1, 2 or 3: ; or (2) the contract value as described in Section 5.1 if you choose payment options 4 or 5. The amount of proceeds payable under the Partial Surrender Provision is defined in Section 5.65.7. We will only pay out partial surrender proceeds as a lump sum or under the Systematic Partial Surrender Plan described in Section 5.75.8.

Surrender Proceeds. We will pay proceeds of a full surrender as either a lump sum or under a payment option as described in Section 10, Payment of Proceeds. Unless you specify otherwise, we will pay full surrender proceeds as a lump sum. Surrender proceeds will be equal to: (1) the cash surrender value as described in Section 5.5 5.6 if you choose a lump sum or payment options 1, 2 or 3: or (2) the contract value as described in Section 5.1 if you choose payment options 4 or 5. The amount of proceeds payable under the Partial Surrender Provision is defined in Section 5.65.7. We will only pay out partial surrender proceeds as a lump sum or under the Systematic Partial Surrender Plan described in Section 5.75.8.

Surrender Proceeds. We will pay proceeds of a full surrender as either a lump sum or under a payment option as described in Section 10, Payment of Proceeds. Unless you specify otherwise, we will pay full surrender proceeds as a lump sum. Surrender proceeds will be equal to: (1) to the cash surrender value as described in Section 5.5 if you choose a lump sum or payment options 1, 2 or 3: or (2) the contract value as described in Section 5.1 if you choose payment options 4 or 55.6. The amount of proceeds payable under the Partial Surrender Provision is defined in Section 5.65.7. We will only pay out partial surrender proceeds as a lump sum or under the Systematic Partial Surrender Plan described in Section 5.75.8.