Sentences with phrase «during the surrender charge period»
If a policy is cancelled during the surrender charge period, a surrender charge is deducted from the cash value.
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Access to your money with up to 10 % allowed to be withdrawn free of charge each year during the surrender charge period, starting in the second year
Surrender charges only apply when surrendering a life insurance policy which includes cash value accumulation, and even then only during the surrender charge period.
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.
A Market Value Adjustment (MVA) is a positive or negative adjustment to the policy's accumulation value, or the amount received in a withdrawal, when a partial withdrawal or full surrender is made during the surrender charge period and the withdrawal or surrender exceeds the policy's surrender - charge - free withdrawal amount.
Therefore, the 1.30 % charge during the surrender charge period and 1.10 % after the surrender charge period is not reflected in the performance of the Investment Divisions, but will be deducted on a quarterly basis by reducing the number of Accumulation Units in the Investment Divisions you have selected.
Up to 10 % can be withdrawn free of charge each year during the surrender charge period, starting in the second year1
MARKET VALUE ADJUSTMENT — An MVA will apply, only during the Surrender Charge Period, to any partial withdrawals in excess of the Maximum Free Partial Withdrawal amount and at the time the Contract is surrendered.
Keep in mind that annuities may assess a surrender charge on withdrawals if you sell or withdraw money during the surrender charge period, and withdrawals made prior to age 59 1/2 may also be subject to a 10 percent federal income tax.
Determined by a formula that measures the change in the U.S. Treasury Constant Maturity yield plus the applicable Barclays Capital U.S. Corporate Bond Index, the MVA will add or deduct an amount from your annuity or from the withdrawal amount you receive.4 A MVA only applies when the policyowner surrenders or makes a withdrawal from the contract that is greater than the surrender - charge - free withdrawal amount during the surrender charge period.
Access to your money — up to 10 % allowed to be withdrawn free of charge each year during the surrender charge period — starting in the second year1
Access to your money — up to 10 % allowed to be withdrawn free of charge each year during the surrender charge period — starting in the second year1
Up to 10 % can be withdrawn free of charge each year during the surrender charge period, starting in the second year1
The No Lapse Guarantee Rider (NLGR) ensures that during the surrender charge period, if you fund your policy at the required premium to maintain the guarantee, the policy will not lapse, even if the cash surrender value is not sufficient to cover the policy's monthly deduction charges.
For the New York Life Premier Variable Annuity — FP Series Accumulation Value Based M&E Fee all performance reflects the percentage change for the period shown with the capital gains and dividends reinvested and includes an annualized Separate Account Expense Charge of 1.20 % during the surrender charge period and 1.00 % after the surrender charge period expires.
The No Lapse Guarantee Rider (NLGR) ensures that during the surrender charge period, if you fund your policy at the required premium to maintain the guarantee, the policy will not lapse, even if the cash surrender value is not sufficient to cover the policy's monthly deduction charges.