Surrender Value. After deduction of the Maintenance Fee (if any), the amount paid by Aetna upon surrender of any portion of the Plan Account will be reduced by a Surrender Fee. The Surrender Fee will be in accordance with the Surrender Fee table in 6.02.
Surrender Value. 12 1.32 Transfers ......................................................... 12 1.33 Valuation Period (Period) ......................................... 12 1.34
Surrender Value. The Surrender Value of this Contract is the amount that can be taken as a Cash Benefit under this Contract. It is equal to:
Surrender Value. 7.1 After the Single Premium has been paid, the Policy will acquire a surrender value and the Company will pay the surrender value to the Policyholder if he surrenders the Policy.
Surrender Value. 3.1.1 After the single premium has been paid, the Policy w ill acquire a surrender value and the Company w ill pay the surrender value to the SRS Account if the Policyholder surrenders the Policy.
Surrender Value. This Contract may not be surrendered nor will any funds be paid to the Owner under this Contract except in accordance with the terms hereof.
Surrender Value. No surrender value is payable under this Rider Policy.
Surrender Value. The Surrender Value is the amount that will be paid if the full Contract Value is surrendered. The Surrender Value at any time will be:
Surrender Value. See Part V.
Surrender Value. The Company will reduce the amount payable upon surrender of any portion of the Current Value by a Surrender Fee. The Surrender Fee will be in accordance with the Surrender Fee table in the Contract Schedule. The Fee on a total surrender of the Contract will not exceed 8.5% of the actual Purchase Payment(s) made to the Contract. We are required by law to report any surrender to the Internal Revenue Service. Surrenders are reported as fully taxable to the Contract Holder. Determination of cost basis from nondeductible IRA contributions as permitted by the Code shall be the responsibility of the Contract Holder. If a lump sum payment is elected in lieu of a Systematic Distribution Option or an Annuity Option, it must be paid no later than the April 1 of the calendar year following the year in which the Contract Holder turns age 70 1/2 or such later date as may be allowed under federal law or regulations. For a Xxxx XXX, refer to the Xxxx XXX Contract endorsement. The Contract Holder or Beneficiary must notify us in writing when a lump sum payment, Systematic Distribution Option payments or Annuity payments are to commence. If the Contract Holder or Beneficiary does not request commencement of benefits as described above, we will not be responsible for compliance with the Code Section 401(a)(9) minimum distribution requirements and for any adverse tax consequences that may result.
