Withdrawal Charge. CONDITIONS. Maturity benefits and withdrawals are subject to a Withdrawal Charge described on page 4. There is no Withdrawal Charge on benefits that are paid under a variable Installment Income or variable Life Income Payment Plan. However, the withdrawal of the present value of any unpaid installments under a variable Installment Income Plan (Option B) will be subject to a withdrawal charge if the withdrawal is made less than five years after the date that the payment plan takes effect.
Withdrawal Charge. Upon a Full or Partial Withdrawal of this contract we assess a Withdrawal Charge. A Withdrawal Charge applies if any part of a Withdrawal comes from a Purchase Payment that is still within the Withdrawal Charge period. We assess the Withdrawal Charge against the Withdrawal Charge Basis, which is equal to total Purchase Payments, less any Purchase Payments withdrawn (including any Penalty-free Withdrawals), and less any applicable Withdrawal Charges outlined below. Penalty-free Withdrawals include Withdrawals under the Free Withdrawal Privilege and waiver of Withdrawal Charge benefit, and payments under our minimum distribution program, if applicable. We do not reduce the Withdrawal Charge Basis for amounts we deduct to pay contract charges, other than the Withdrawal Charge. If the Withdrawal Charge Basis is zero, we do not assess a Withdrawal Charge. For purpose of calculating any Withdrawal Charge we withdraw Purchase Payments on a first-in-first-out (FIFO) basis. We calculate the charge at the time of each Withdrawal. We take each Withdrawal from your contract in the following order.
Withdrawal Charge. During the Accumulation Phase, we may deduct a withdrawal charge from the Individual Account value withdrawn. The charge, if any, is a percentage of the amount withdrawn from the Funds and/or Fixed Interest Options (except, if applicable, the Fixed Plus Account). The withdrawal charge will never exceed 8.5% of the total amount of Contributions. The withdrawal charge, if any, is shown on Contract Schedule I under Withdrawal Charge.
Withdrawal Charge. The Company assesses a Withdrawal Charge when the Owner makes a full surrender or partial withdrawals. The Withdrawal Charge is calculated as a percentage of the Contributions being withdrawn. The Withdrawal Charge percentage varies with the number of years that have elapsed since each Contribution being withdrawn was made. Please see the Withdrawal Charges schedule on the Contract Data Page. For purposes of calculating the Withdrawal Charge, the Company will deem the oldest Contributions to be withdrawn first. For purposes of calculating the Withdrawal Charge, the Company will deem Contributions to be withdrawn before any earnings. After the amount of all Contributions has been withdrawn, all remaining withdrawals will be free of the Withdrawal Charge.
Withdrawal Charge. A Withdrawal Charge may be imposed upon certain withdrawals. Withdrawal Charges will be calculated in accordance with the Withdrawal Charge schedule on the Contract Data Page. The Withdrawal Charge is equal to the Withdrawal Charge percentage applied to the portion of Remaining Premium withdrawn. The Withdrawal Charge will be taken from the Investment Divisions and the Fixed Account Options in the same proportion as the requested withdrawal. VA340NY 13 The Withdrawal Charge will be deducted from the remaining Contract Value such that the actual reduction in Contract Value as a result of the withdrawal will be greater than the withdrawal amount requested and paid. For purposes of determining the Withdrawal Charge, earnings are defined as the excess of the Contract Value over the sum of remaining Contract Enhancements and Remaining Premiums. Withdrawals will be allocated first to earnings, if any (which may be withdrawn free of Withdrawal Charge), second to Remaining Premium on a first-in, first-out basis so that all withdrawals will be allocated to Remaining Premium to which the lowest (if any) Withdrawal Charges apply, and third to Contract Enhancements (which may be withdrawn free of any Withdrawal Charge.)
Withdrawal Charge. For each Gas Flow Day, the Withdrawal Charge shall be payable in respect of the Withdrawn Quantity for that Gas Flow Day and shall be payable in accordance with clause 13.5.
Withdrawal Charge. The Withdrawal Charge Percentage stated on your Specifications Pages is applied to each Premium and assessed at the time you make a withdrawal or surrender your Contract. Any Withdrawal Charge assessed will depend on how long the Premium to which the withdrawal is attributed has been in the Contract. For the purpose of determining the Withdrawal Charge, a withdrawal will be attributed to amounts in the following order: (1) any remaining Free Withdrawal Amount for the current Contract Year (except in the case of a surrender); (2) Premiums which are no longer subject to a Withdrawal Charge and have not yet been withdrawn; (3) Premiums subject to a Withdrawal Charge; and (4) any gain, interest, or other amount that is not considered a Premium. The total Withdrawal Charge assessed is equal to the sum of the separate Withdrawal Charges applied to each Premium. In no event will the total Withdrawal Charge exceed the sum of the separate Withdrawal Charge Percentages applied to each respective Premium. Premiums, when withdrawn, are deemed to be withdrawn on a first-in-first-out basis, with the oldest Premiums withdrawn first. We will apply a Waiver of the Withdrawal Charge in the circumstances stated on your Specifications Pages. Free Withdrawal Amount - The Free Withdrawal Amount is the amount you may withdraw each Contract Year without paying a Withdrawal Charge. Your Free Withdrawal Amount is the greater of (i) the Free Withdrawal Percentage stated on your Specifications Pages multiplied by your Account Value on the date of the withdrawal, minus any partial withdrawals taken during the current Contract Year, or (ii) the Free Withdrawal Percentage multiplied by your Account Value as of the immediately preceding Contract Anniversary, minus any prior withdrawals made during that Contract Year. In the first Contract Year, the Account Value referenced in item (ii) will be your initial Premium. The Free Withdrawal Amount is not cumulative; any Free Withdrawal Amount not withdrawn in a Contract Year may not be carried forward to future Contract Years. The Free Withdrawal Amount applies only to partial withdrawals and does not apply to a surrender. The Free Withdrawal Amount does not reduce the Withdrawal Charge applicable to each Premium. Transfer Fee - We may deduct a Transfer Fee for any Transfers among Subaccounts as stated on your Specifications Pages. Unrestricted Transfers, as stated on your Specifications Pages, are not subject to a Transfer Fee. Premium Tax - ...
Withdrawal Charge. The charge assessed against certain withdrawals from the Contract Value and in the event of payments under an income option commencing during the first Contract Year.
Withdrawal Charge. 11 Taxes.............................................................................................11
Withdrawal Charge. If you withdraw all or a part of your contract, you may be subject to a withdrawal charge. A withdrawal charge applies if all or a part of the contract value you withdraw is from payments received that are still in the withdrawal charge period indicated under Contract Data. Refer to Waiver of Withdrawal Charges for situations when withdrawal charges are not deducted. We determine your withdrawal charge by multiplying each of your payments withdrawn by the applicable withdrawal charge percentage, and then totalling the withdrawal charges. For a partial withdrawal that is subject to a withdrawal charge, the amount we actually withdraw from your contract value will be the amount you request plus any applicable withdrawal charge as of the date of withdrawal. The withdrawal charge is applied to this total amount. We pay you the amount you requested. The withdrawal charge percentage depends upon the number of years since you made the payment(s) withdrawn as shown under Contract Data. The withdrawal charge applies regardless of the contract value at time of withdrawal. Therefore, the purchase payment amount applied to the withdrawal charge percentage may be greater or less than the contract value. Withdrawal Provisions (Continued) Waiver of Withdrawal Charges Withdrawal charges are waived for all of the following:
