Common use of Withdrawals and Surrenders Clause in Contracts

Withdrawals and Surrenders. Withdrawals and Surrenders is the total amount paid or accrued in the event of a partial withdrawal of account value or full surrender of a Reinsured Contract net of any applicable withdrawal charges, including any amounts paid during the Accounting Period to a non-spousal beneficiary under a "Stretch" Settlement described in Section 4.05. Withdrawal charges, for these purposes, is the total amount that the Ceding Company deducts before paying the cash surrender value upon a full or partial surrender of a Reinsured Contract.

Withdrawals and Surrenders. Withdrawals and Surrenders is the total amount paid or accrued in the event of a partial withdrawal of account value or full surrender of a Reinsured Contract Policies net of any applicable withdrawal charges, including any amounts paid during the Accounting Period to a non-spousal beneficiary under a "Stretch" Settlement described in Section 4.05. Withdrawal charges, for these purposes, is the total amount that the Ceding Company deducts before paying the cash surrender value upon a full or partial surrender of a Reinsured ContractPolicy.