SURRENDER CHARGES Sometimes unexpected things may happen that cause you to need access to your money. If you choose to withdraw any amount in excess of the penalty- free withdrawal amount, you will be subject to a Surrender Charge that is calculated based on the policy year of your current Multi-Year Interest Rate Guarantee Period. Surrender Charges may differ by state.
Surrender Charge Schedule
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3 -Year
9.0% 8.0% 7.0%
5-Year
9.0% 8.0% 7.0% 6.0% 5.0%
7-Year
9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0%
10-Year
9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.5% 1.5% 0.9%
MARKET VALUE ADJUSTMENT (MVA) An MVA will apply to any full surrender or partial withdrawal that exceeds the maximum penalty-free withdrawal during the guarantee period. Depending on the direction interest rates move, the MVA may increase or decrease benefits available under the contract. The MVA does not apply to the death benefit or the guaranteed surrender value. PENALTY-FREE WITHDRAWAL WINDOW During the first 30 days of a Multi-Year Interest Rate Guarantee Period, you may take a penalty-free partial or total withdrawal of your principal and earned interest without being subject to a surrender charge or MVA. AUTOMATIC RENEWAL At the end of the guarantee period, if you decide not to make an election, you will automatically be rolled into a contract of the same term and guarantee period with a new rate. Surrender charges will apply. This rate will never be less than the minimum guaranteed rate listed on your schedule page. ANNUITIZATION Creating an income stream for life can help you minimize worry about outliving your assets. On your annuity date, you have the option of annuitizing your contract, or turning your annuity into scheduled payments for life. The annuity date is set in your contract.
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