Minimum Withdrawal Amount definition

Minimum Withdrawal Amount means $1,000 or any other sum that the Responsible Entity determines from time to time. The Responsible Entity may determine a different sum for different applicants or for different Classes.

Minimum Withdrawal Amount. [$300], unless the withdrawal is made pursuant to Our systematic withdrawal program, in which case the minimum withdrawal is [$100]. MINIMUM CERTIFICATE VALUE WHICH MUST REMAIN AFTER A PARTIAL WITHDRAWAL: [$2,500]. DEATH BENEFITS ADJUSTMENT OF CERTIFICATE VALUE When We receive due proof of death of the Certificate Owner, [any Joint Certificate Owner,] or the Annuitant if the Certificate Owner is a non-natural Person, We will compare, as of the date of death, the Certificate Value to the Death Benefit amount defined in the Certificate Schedule. If the Certificate Value is less than the Death Benefit, We will increase the current Certificate Value by the amount of the difference. Any amount credited will be allocated to the Variable Account [and/or the Fixed Account] based on the Purchase Payment allocation selection that is in effect when We receive due proof of death. [WAIVER OF SURRENDER CHARGES If the Certificate is surrendered within [90] days of the date of death of the Certificate Owner, [any Joint Certificate Owner,] or the Annuitant if the Certificate Owner is a non-natural Person, any applicable Surrender Charges will not be deducted from the Certificate Withdrawal Value.] DEATH BENEFIT AMOUNT A Certificate Schedule will contain one [or more] of the following Death Benefit provisions. [PURCHASE PAYMENT DEATH BENEFIT On the Certificate Date the Death Benefit is the initial Purchase Payment. On subsequent Valuation Dates, the Death Benefit is calculated as follows:

Minimum Withdrawal Amount. The minimum amounts that may be withdrawn from your Contract are shown in the Contract Specifications. If the Withdrawal reduces the Account Value in any Investment Option to an amount less than the Minimum Investment Option Value, we reserve the right to Transfer the remaining Account Value to your other Investment Options on a pro-rata basis according to your most recent allocation instructions. If any Withdrawal reduces the Contract Value to an amount less than or equal to the Minimum Contract Value to Avoid Contract Termination, we may terminate the Contract and pay you the Withdrawal proceeds (see Full Withdrawal provision). We will not terminate the Contract for this reason if you own a Guaranteed Minimum Withdrawal Benefit (GMWB) Rider.

Examples of Minimum Withdrawal Amount in a sentence

• The amount must be equal to or more than the Minimum Withdrawal Amount.

• No Exit Charge is payable on such Partial Withdrawal provided that (i) the number of Units to be deducted must aggregate to a dollar value equal to or more than the Minimum Withdrawal Amount, based on the relevant indicative Bid Price; and (ii) the Trust Plan Value does not fall below the Minimum Trust Plan Value.

• Minimum Withdrawal Amount The minimum withdrawal amount is $10,000.

• No withdrawal can be made where the amount specified to be withdrawn is less than the Minimum Withdrawal Amount.

• Terms and conditions for withdrawals The Responsible Entity is not required to give effect to a withdrawal request if it is for less than the Minimum Withdrawal Amount determined by the Responsible Entity from time to time and does not relate to the balance of an investor’s investment.

• For the purposes of this Clause, the Minimum Withdrawal Amount is currently set at SGD3,000 and we reserve the right to change this amount from time to time.

• RMD Election continued** Please note: Loomis Sayles Funds use the following formula to calculate the life expectancy distribution: Value of IRA / Life Expectancy Factor = Minimum Withdrawal Amount.

• Switches Subject to the qualifications below, a Shareholder may exchange all or part of their investment in one Fund for an investment in another Fund (if there are any) of the Company provided that in doing so, the Shareholder maintains at least the minimum holding in each of the Funds that they wish to invest or continue to invest in and the amount ‘Switched’ is not less than either the Minimum Withdrawal Amount from the Fund ‘Switched from’ or the Minimum Investment Amount in the Fund ‘Switched to’.

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• Switches Subject to the qualifications below, a Shareholder may exchange all or part of their investment in one Fund for an investment in another Fund of the Company provided that in doing so, the Shareholder maintains at least the minimum holding in each of the Funds that they wish to invest or continue to invest in and the amount ‘Switched’ is not less than either the Minimum Withdrawal Amount from the Fund ‘Switched from’ or the Minimum Investment Amount in the Fund ‘Switched to’.

More Definitions of Minimum Withdrawal Amount

Minimum Withdrawal Amount. The minimum amounts that may be withdrawn from your Contract are shown in the Contract Specifications. The Minimum Withdrawal Amount does not apply to Advisory Fee Withdrawals. If a Withdrawal reduces the Account Value in any Investment Option to an amount less than the Minimum Investment Option Value, we may Transfer the remaining Account Value to your other Investment Options on a pro-rata basis according to your most recent allocation instructions.

Minimum Withdrawal Amount. The minimum amounts that may be withdrawn from your Contract are shown in the Contract Specifications. The Minimum Withdrawal Amount does not apply to Advisory Fee Withdrawals. If a Withdrawal reduces the Account Value in any Investment Option to an amount less than the Minimum Investment Option Value, we reserve the right to Transfer the remaining Account Value to your other Investment Options on a pro-rata basis according to your most recent allocation instructions. If any Withdrawal reduces the Contract Value to an amount less than or equal to the Minimum Contract Value to Avoid Contract Termination, we may terminate the Contract and pay you the Withdrawal proceeds (see Full Withdrawal provision). We will not terminate the Contract for this reason if you own an optional benefit Rider.

Minimum Withdrawal Amount. The minimum amounts that may be withdrawn from your Contract are shown in the Contract Specifications. If any Withdrawal reduces the Contract Value to an amount less than or equal to the Minimum Contract Value to Avoid Contract Termination, shown in the Contract Specifications, we may terminate the Contract and pay you the Withdrawal proceeds (see Full Withdrawal provision). We will not terminate the Contract for this reason if you own an optional guaranteed minimum withdrawal benefit rider.