Withdrawal charges A withdrawal charge may apply if you withdraw money from your contract during the first seven years. The charge is a percentage of the amount withdrawn that exceeds any available penalty-free amount. After the seventh contract anniversary you will have full access to your investment and any earnings without a withdrawal charge.
7-year withdrawal charge schedule
Year 1 2 3 4 5 6 7 8 Charge 7% 6% 5% 4% 3% 2% 1% 0%
Nursing facility/terminal illness waiver You can access your money to help when certain circumstances occur. We will waive the withdrawal charge
and MVA after the first contract anniversary if you or your spouse is either: • Confined to a qualified medical care facility for at least 30 consecutive days • Diagnosed with a terminally ill condition expected to result in death within 12 months This waiver may not be available in all states, and state variations may apply.
Unemployment waiver You can access your money to help with the financial burdens of unemployment. We will waive the withdrawal charge and MVA if you or your spouse should become unemployed. In order to qualify, you or your spouse must meet the following requirements: • Employed full time on the contract issue date • Unemployed for a period of at least 60 consecutive calendar days prior to claiming the waiver • Unemployed on the date when the full surrender or partial withdrawal is requested This waiver may not be available in all states, and state variations may apply. Market value adjustment In addition to the withdrawal charges, a market value adjustment (MVA) is applied to withdrawals that exceed the allowable penalty-free amount. The MVA can either increase or decrease or have no effect on the amount deducted from the contract value to satisfy your withdrawal request. It does not impact your minimum surrender value and doesn’t apply after the withdrawal charge period ends. If you surrender your contract, you will receive the greater of the surrender value or the minimum surrender value. Minimum surrender value A minimum surrender value is guaranteed when the contract is terminated due to full surrender, death, or annuitization. This amount is calculated by: • Taking 87.5% of aggregate purchase payments accumulated at the contract’s non-forfeiture rate, which cannot be less than 1% or more than 3%, and • Subtracting any prior aggregate withdrawals accumulated at the non-forfeiture rate
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