SURRENDER PROVISIONS. SURRENDER - While this certificate is in force and before the Annuity Date, We will, upon Written Request, allow the surrender of all or a portion of this certificate for its Surrender Value. Surrenders will result in the cancellation of Accumulation Units from each applicable Subaccount and the Guaranteed Account in the ratio that the value of each Subaccount bears to the total Contract Value. You must specify in writing in advance which units are to be canceled if other than the above described method of cancellation is desired. We will pay the amount of any surrender within seven (7) days of receipt of a request in a form acceptable to us unless the "Delay of Payments" provision is in effect. The Surrender Value will be the Contract Value as of the date of Our receipt of Your written surrender request, reduced by the sum of:
SURRENDER PROVISIONS. FULL SURRENDER PRIOR TO THE ANNUITY COMMENCEMENT DATE At any time prior to the Annuity Commencement Date, You have the right to terminate the contract by submitting a written request to Us at the Administrative Office of the Company. In such event, the Surrender Value of the contract may be taken in the form of a cash settlement. PARTIAL SURRENDERS PRIOR TO THE ANNUITY COMMENCEMENT DATE You may request, in writing or other means acceptable to Us, a partial surrender of Contract Values at any time prior to the Annuity Commencement Date provided the Contract Value remaining after the surrender is at least equal to Our minimum amount rules then in effect. If the remaining Contract Value following such surrender is less than Our minimum amount rules, We may terminate the contract and pay the Surrender Value. The contingent deferred sales charge will be assessed against any Contract Values surrendered as described on Page 3. However, on a noncumulative basis, You may make partial surrenders during any Contract Year, up to the Annual Withdrawal Amount shown on Page 3 and the contingent deferred sales charge will not be assessed against such amounts. Surrender of Contract Values in excess of the Withdrawal Amount and additional surrenders made in any Contract Year will be subject to the contingent deferred sales charge, as described on Page 3, if applicable. Generally, for federal tax purposes, any surrenders will be deemed to be first from earnings, to the extent that they exist, and then from the premium payments. SURRENDER PROVISIONS (CONTINUED)
SURRENDER PROVISIONS. 10 SURRENDERS....................................................................................................10
SURRENDER PROVISIONS. 12 Distribution at Time of Death Provisions 14 Calculation of the Death Benefit Provisions 14 Settlement Provisions 17 Annuity Tables 20 HL-VA99 Page 2 PRINTED IN U.S.A. R378R0.FRM CONTRACT SPECIFICATIONS CONTRACT NUMBER [SPECIMEN] CONTRACT ISSUE DATE [FEBRUARY 8, 1999] NAME OF ANNUITANT [XXXXX XXXXX] ANNUITY COMMENCEMENT DATE [JANUARY 1, 2029] AGE OF ANNUITANT [35] INITIAL PREMIUM PAYMENT [$1,000] SEX OF ANNUITANT [MALE] MINIMUM SUBSEQUENT PAYMENT $500 CONTINGENT ANNUITANT [XXXX XXXXX] MINIMUM FIXED ACCOUNT INTEREST RATE 3% DESIGNATED BENEFICIARY [XXX XXXXX] (APPLIES TO ACCUMULATION PERIOD ONLY) CONTRACT OWNER [XXXXX XXXXX] DESCRIPTION OF BENEFITS INDIVIDUAL FLEXIBLE PREMIUM VARIABLE ANNUITY CONTRACT SEPARATE ACCOUNT: [HARTFORD LIFE INSURANCE COMPANY SEPARATE ACCOUNT THREE] ANNUAL WITHDRAWAL AMOUNT CONTRACT YEARS 1-7 ------------------ 15% OF PREMIUM PAYMENTS ON A NONCUMULATIVE BASIS AFTER CONTRACT YEAR 7 --------------------- 100% OF THE CONTRACT VALUE REDUCED BY THE TOTAL OF ANY PREMIUM PAYMENTS MADE DURING THE 7 YEARS PRIOR TO WITHDRAWAL; AND 15% OF PREMIUM PAYMENTS MADE DURING THE 7 YEARS PRIOR TO WITHDRAWAL ON A NONCUMULATIVE BASIS. ANNUAL MAINTENANCE FEE: $0 IF THE CONTRACT VALUE IS $50,000 OR MORE ON THE CONTRACT ANNIVERSARY. $30 IF THE CONTRACT VALUE IS LESS THAN $50,000 ON THE CONTRACT ANNIVERSARY.
SURRENDER PROVISIONS. 12 Distribution at Time of Death Provisions 14 Calculation of the Death Benefit Provisions 14 Settlement Provisions 17 Annuity Tables 20 LA-VAOO Page 2 PRINTED IN U.S.A. INDIVIDUAL FLEXIBLE PREMIUM VARIABLE ANNUITY CONTRACT HARTFORD LIFE AND ANNUITY INSURANCE COMPANY P.O. Box 2999 Hartford, Connecticut 06104-2999
SURRENDER PROVISIONS. Distribution at
SURRENDER PROVISIONS. 9 Surrender................................................................. 9
SURRENDER PROVISIONS. SURRENDER - While this contract is in force and before the Annuity Date, We will, upon Written Request, allow the surrender of all or a portion of this contract for its Surrender Value. Surrenders will result in the cancellation of Accumulation Units from each applicable Subaccount and the Guaranteed Account in the ratio that the value of each Subaccount bears to the total Contract Value. You must specify in writing in advance which units are to be canceled if other than the above described method of cancellation is desired. We will pay the amount of any surrender within seven (7) days of receipt of a request in a form acceptable to Us unless the "Delay of Payments" provision is in effect. The Surrender Value will be the Contract Value as of the date of Our receipt of Your written surrender request, reduced by any applicable premium taxes not previously deducted. DELAY OF PAYMENTS DELAY OF PAYMENTS - We will make any payments under this contract within 7 days (or any shorter period, if required by law) of a request received in good order. We reserve the right to suspend or postpone any type of payment from the Variable Account for any period when:
SURRENDER PROVISIONS. 9 Surrender.............................................................. 9
SURRENDER PROVISIONS. CASH SURRENDER OF At any time prior to Annuitization and before the death ACCUMULATED VALUE of the Annuitant, You may elect to surrender the contract for the total Cash Surrender Value described below. All of the values are the same or more than the minimums set by the laws of the state where this contract is delivered. CASH SURRENDER VALUE The total Cash Surrender Value is equal to Your Accumulated Value reduced by the Surrender Charge. The Surrender Charge is a percentage of Accumulated Value and depends on the Contract Year in which the surrender is requested. The Surrender Charge is shown in the Table of Surrender Charges on the Contract Specification Page. If the Cash Surrender Value is applied under Fixed Settlement Options 3 or 5 or determined at the time of the Annuitant's death prior to Annuitization, then the Surrender Charge shall be waived. If a Cash Surrender Value is applied under any Variable Settlement Option, We will waive the Surrender Charge. Surrender Charges will also be waived for any amount that is required to satisfy the minimum distribution requirements of Section 401(a)(9) of the Internal Revenue Code. If the Cash Surrender Value is applied under Fixed Settlement Options 2 or 4, We will add the number of years in the term of the settlement option to the actual Contract Year of this contract to determine the Surrender Charge. If the Cash Surrender Value is applied under Fixed Settlement Option 1, the Surrender Charge at the date of settlement shall be waived. If proceeds left under Fixed Settlement Option 1 are subsequently withdrawn, We will apply a Surrender Charge determined by years elapsed from the Contract Date to the date such proceeds are withdrawn. PARTIAL WITHDRAWAL Partial withdrawals of Accumulated Value will be OF ACCUMULATED VALUE permitted. In the event of a partial withdrawal, the Accumulated Value will be reduced by the amount of any partial withdrawal and any Surrender Charge applying to such withdrawal. The Owner may tell Us how to allocate a partial withdrawal among the Subaccounts and the Declared Interest Option. If the Owner does not so instruct, We will prorate the partial withdrawal among the Subaccounts and the Declared Interest Option in proportion to the Accumulated Value in each of the Subaccounts and the Accumulated Value in the Declared Interest Option on the date We receive the request. Amounts withdrawn from the Declared Interest Option are considered withdrawn on the last-in-first-out basis. The am...
