Common use of SURRENDERS Clause in Contracts

SURRENDERS. Full or partial surrenders may be made any time prior to the Annuity Commencement Date. Partial surrenders may be taken provided the Contract Value remaining after the surrender is at least $5,000. The amount we will pay upon a full or partial surrender is equal to the Contract Value surrendered minus any applicable premium tax and contract maintenance fee. SUSPENSION OR DELAY IN PAYMENT OF SURRENDER - The Company may suspend or delay the date of payment of a partial or full surrender from the Variable Account value for any period:

Appears in 2 contracts

Samples: Individual Flexible Premium Deferred Fixed and Variable Annuity Contract (Protective Variable Annuity Separate Account), Group Flexible Premium Deferred Fixed and Variable Annuity Contract (Protective Variable Annuity Separate Account)

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SURRENDERS. Full or partial surrenders A full surrender of the Contract may be made any time prior to the Annuity Commencement Date. Partial surrenders may be taken made prior to the Annuity Commencement Date provided the Contract Value remaining after the surrender is at least $5,0002,000. The amount we will pay upon a full or partial surrender is equal to the Contract Value surrendered minus any applicable surrender charge, premium tax and contract maintenance fee. SUSPENSION OR DELAY IN PAYMENT OF SURRENDER - The Company may suspend or delay the date of payment of a partial or full surrender We will withdraw amounts pro-rata from the Variable Account value for any period:Allocation Options.

Appears in 2 contracts

Samples: Group Flexible Premium Deferred Fixed and Variable Annuity Contract (Protective Variable Annuity Separate Account), Individual Flexible Premium Deferred Fixed and Variable Annuity Contract (Protective Variable Annuity Separate Account)

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SURRENDERS. Full or partial surrenders may be made any time prior to the Annuity Commencement Date. Partial surrenders may be taken provided the Contract Value remaining after the surrender is at least $5,00025,000. The amount we will pay upon a full or partial surrender is equal to the Contract Value surrendered minus any applicable premium tax and contract maintenance fee. SUSPENSION OR DELAY IN PAYMENT OF SURRENDER Suspension or Delay in Payment of Surrender - The Company may suspend or delay the date of payment of a partial or full surrender from the Variable Account value for any period:

Appears in 1 contract

Samples: Individual Flexible Premium Deferred Fixed and Variable Annuity Contract (Protective Variable Annuity Separate Account)

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