WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE Sample Clauses

WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE. If You are confined as an inpatient in a Nursing Home or Hospital for ninety (90) consecutive days starting after the Issue Date shown on the Contract Data Pages, the Company will waive the Withdrawal Charge on the amount You withdraw from the Contract up to the Waiver of Withdrawal Charge for Extended Care maximum amount shown on the Contract Data Pages. Upon Your compliance with the Claim Requirements described below, You will be eligible for this waiver on the Eligibility Date shown on the Contract Data Pages. All other Contract values will be reduced proportionately for the amount withdrawn. The Company will allocate the withdrawal amount to each Contract Option according to the method described in the Withdrawal Provisions. The Company will determine values at the end of the Business Day on which the Company receives the request for withdrawal in Good Order at the Company's Customer Care Center. Withdrawals under this provision may reduce Remaining Premium. The availability of access to guarantees or values is not intended to provide long-term care or nursing home insurance. This Waiver of Withdrawal Charge for Extended Care is available only once, no matter the amount withdrawn or in the circumstances of multiple confinements for the same or a different medical condition and/or Joint Owners. For the purpose of this waiver, the following definitions apply: Hospital. A facility that: 1. is located within the United States or its territories; 2. operates primarily for the inpatient care and treatment of sick and injured persons; 3. provides continuous twenty-four (24) hour a day nursing service by or under the supervision of a registered nurse (R.N.); 4. is supervised by a staff of licensed physicians; and 5. has its own medical and diagnostic facilities or has access to such facilities on a prearranged basis. Immediate Family - means the individual's spouse, domestic partner, child, brother, sister, parent, or grandparent. Medically Necessary - means consistent with Your diagnosis in accordance with accepted standards of medical practice without which Your medical condition would be adversely affected.
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WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE. If You are confined as an inpatient to a Nursing Home or Hospital for ninety (90) consecutive days, a period during which the Withdrawal Charge otherwise would normally apply, the Company will waive the Withdrawal Charge on any amounts You request withdrawn from the Contract under this provision. The Excess Interest Adjustment may apply. The amount(s) You request withdrawn from the Contract under this provision will not reduce Remaining Premium. You may exercise this provision only once, regardless of the subsequent occurrence of the same condition or the occurrence of a different condition. Once Your eligibility has been established, You may request one withdrawal or multiple withdrawals subject to the maximum allowed. You are not eligible for this waiver if:
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WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE. If You are confined as an inpatient in a Nursing Home or Hospital for ninety (90) consecutive days starting after the Issue Date shown on the Contract Data Pages, the Company will waive the Withdrawal Charge on the amount You withdraw from the Contract, up to the maximum shown on the Contract Data Pages. Upon Your compliance with the Claim Requirements described below, You will be eligible for this waiver on the Eligibility Date shown on the Contract Data Pages. The Company will allocate the withdrawal amount to each Contract Option according to the method described in the Withdrawal Provisions. The Company will determine values at the end of the Business Day on which the Company receives the request for withdrawal in Good Order at the Company's Service Center. A withdrawal from the Fixed Account Option(s) is subject to any applicable Market Value Adjustment. Withdrawals under this provision reduce Remaining Premium. This Waiver of Withdrawal Charge for Extended Care is available only once, no matter the amount withdrawn or in the circumstances of multiple confinements for the same or a different medical condition and/or Joint Owners. For the purpose of this waiver, the following definitions apply: • Hospital. A facility that: 1. is located within the United States or its territories; 2. is operated pursuant to the law; 3. operates primarily for the inpatient care and treatment of sick and injured persons; 4. provides continuous twenty-four (24) hour a day nursing service by or under the supervision of a registered nurse (R.N.); 5. is supervised by a staff of licensed physicians; and 6. has its own medical and diagnostic facilities or has access to such facilities on a prearranged basis. • Immediate Family - means the individual's spouse/domestic partner, child, brother, sister, parent or grandparent. • Medically Necessary - means consistent with Your diagnosis, in accordance with accepted standards of medical practice and without which Your medical condition would be adversely affected. • Nursing Home. A facility that: 1. is licensed by the appropriate governmental licensing agency as a Nursing Home in the state in which it maintains such facilities; 2. is operated pursuant to the law; 3. charges patients a fee for the care provided; 4. is primarily engaged in providing nursing care (skilled, intermediate or custodial) by or under the supervision of a licensed Physician and room and board accommodations; 5. provides continuous twenty-four (24) hour a day ...
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WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE. If You are confined as an inpatient to a Nursing Home or Hospital for ninety (90) consecutive days, a period during which the Withdrawal Charge otherwise would normally apply, the Company will waive the Withdrawal Charge on any amounts You request withdrawn from an Investment Division or the Fixed Account. You can withdraw an amount without a Withdrawal Charge pursuant to this benefit only once, regardless of the subsequent occurrence of the same condition or the occurrence of a different condition. You are not eligible for this waiver if: You are confined to a Nursing Home or Hospital during the thirty-day (30) period following the Issue Date, unless such confinement is not related to a subsequent confinement for which You request the waiver; or, You are no longer confined to a Nursing Home or Hospital. VA250NY 15 Confinement to the Nursing Home or Hospital must be prescribed by a Physician and be medically necessary, meaning the confinement is appropriate and consistent with the diagnosis in accordance with accepted standards of practice, and which could not have been omitted without adversely affecting the confined Owner’s condition. Withdrawals made pursuant to this Endorsement shall not exceed $250,000. If your Contract Value is below this amount, you may withdraw 100% of the Contract Value. Withdrawals will be taken from the Separate Account Contract Value and the Fixed Account Contract Value as stated in the Withdrawal Provisions of the Contract. A withdrawal from the Fixed Account Option(s) may be subject to an Interest Rate Adjustment. This may mean an increase or decrease in the amount of Your benefit.
Sample 1Sample 2
WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE. If You are confined as an inpatient to a Nursing Home or Hospital for ninety (90) consecutive days, a period during which the Withdrawal Charge otherwise would normally apply, the Company will waive the Withdrawal Charge on any amounts You request withdrawn from the Contract under this provision. You can withdraw an amount without a Withdrawal Charge pursuant to this benefit only once, regardless of the subsequent occurrence of the same condition or the occurrence of a different condition. You are not eligible for this waiver if:
Sample 1Sample 2
WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE. If You are confined as an inpatient in a Nursing Home or Hospital for ninety (90) consecutive days starting after the Issue Date shown on the Contract Data Pages, the Company will waive the Withdrawal Charge on the amount You withdraw from the Contract, up to the maximum amount shown on the Contract Data Pages. Upon Your compliance with the Claim Requirements described below, You will be eligible for this waiver on the Eligibility Date shown on the Contract Data Pages. The availability of access to guarantees or values is not intended to provide long-term care or nursing home insurance. The Company will allocate the withdrawal amount to each Contract Option according to the method described in the Withdrawal Provisions. The Company will determine values at the end of the Business Day on which the Company receives the request for withdrawal in Good Order at the Company's Service Center. A withdrawal from the Fixed Account Option(s) is subject to any applicable MVA. Withdrawals under this provision reduce Remaining Premium. This Waiver of Withdrawal Charge for Extended Care is available only once, no matter the amount withdrawn or in the circumstances of multiple confinements for the same or a different medical condition and/or Joint Owners. VA710NY 18
Sample 1
WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE. If the Owner is confined as an inpatient to a Nursing Home or Hospital for ninety (90) consecutive days, a period during which the Withdrawal Charge otherwise would normally apply, the Company will waive the Withdrawal Charge on any amounts You request withdrawn from the Contract under this provision. The amount(s) You request withdrawn from the Contract under this provision will not reduce Remaining Premium. Withdrawals made pursuant to this provision shall be up to 100% of the Contract Value. The amount(s) withdrawn pursuant to this provision shall not exceed $250,000 and will be taken from the Separate Account Contract Value and the Fixed Account Contract Value as stated in the Withdrawal Provisions of this Contract. A withdrawal from the Fixed Account Option(s) may be subject to an Excess Interest Adjustment. This may mean an increase or decrease in the amount of Your benefit. You can withdraw an amount pursuant to this benefit only once, regardless of the subsequent confinement for the same condition or the occurrence of a different condition. For the purpose of this benefit, the following definitions apply:  Hospital. A facility that: 1. is located within the United States or its territories; 2. which is operated pursuant to the law; 3. operates primarily for the care and treatment of sick and injured persons as inpatients; 4. provides continuous twenty-four (24) hour a day nursing service by or under the supervision of a registered nurse (R.N.); 5. is supervised by a staff of licensed physicians; and 6. has medical and diagnostic facilities or has access to such facilities on a prearranged basis.
Sample 1
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WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE. If You are confined as an inpatient in a Nursing Home or Hospital for ninety (90) consecutive days starting after the Issue Date shown on the Contract Data Pages, the Company will waive the Withdrawal Charge on the amount You withdraw from the Contract, up to the maximum shown on the Contract Data Pages. Upon Your compliance with the Claim Requirements described below, You will be eligible for this waiver on the Eligibility Date shown on the Contract Data Pages. The Company will allocate the withdrawal amount to each Contract Option according to the method described in the Withdrawal Provisions. The Company will determine values at the end of the Business Day on which the Company receives the request for withdrawal in Good Order at the Company's Service Center. A withdrawal from the Fixed Account Option(s) is subject to any applicable Market Value Adjustment. Withdrawals under this provision reduce Remaining Premium. This Waiver of Withdrawal Charge for Extended Care is available only once, no matter the amount withdrawn or in the circumstances of multiple confinements for the same or a different medical condition and/or Joint Owners. VA775NY 18
Sample 1

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