Minimum Withdrawal Amount definition
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 The minimum amounts that may be withdrawn from your Contract are shown in the Contract Specifications.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 any 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. 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 an optional guaranteed minimum withdrawal benefit Rider is attached to this Contract.
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:
Examples of Minimum Withdrawal Amount in a sentence
Minimum Withdrawal Amount — The minimum amount that may be withdrawn is $500.
Minimum Withdrawal Amount – The minimum amount that may be withdrawn is $500.
CONVENTIONAL PARTIAL WITHDRAWALS Minimum Withdrawal Amount: $1,000.
Conventional Partial Withdrawals Minimum Withdrawal Amount: $100.
Minimum Withdrawal Amount — The minimum amounts that may be withdrawn from your Contract are shown in the Contract Specifications.
CONVENTIONAL PARTIAL WITHDRAWALS Minimum Withdrawal Amount: $100.
Any withdrawal must be at least the Minimum Withdrawal Amount (see Specifications page).
Minimum Withdrawal Amount - The minimum amount that may be withdrawn is $500.
The partial withdrawal amount requested must be at least the Minimum Withdrawal Amount stated on your Specifications Pages.
Minimum Withdrawal Amount — The minimum amount that may be withdrawn is shown in the Contract Specifications.
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. 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.
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.
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.