The insurance company may impose a withdrawal charge on any amount that exceeds the annual free withdrawal amount in the first years of the contract for each purchase payment. (brighthousefinancial.com)
In the case of a married or common - law couple, the combined tax - free withdrawal amount increases to $ 50,000, as both can pull $ 25,000 from their accounts. (moneysense.ca)
An MVA only applies when the policy owner surrenders or makes a withdrawal from the contract that is greater than the surrender charge free withdrawal amount during the surrender charge period. (newyorklife.com)