WHAT IF I NEED TO MAKE A WITHDRAWAL ABOVE THE 10% FREE WITHDRAWAL AMOUNT? You have the option of taking a withdrawal above the 10% free withdrawal amount also known as an excess withdrawal, but withdrawal charges and a market value adjustment may apply. The surrender penalty for excess withdrawals is on a declining schedule below.
Contract Year
1
2
3
4
5
6
7
8
9
10 11
9% 8% 7% 6% 5%
0%
5-Year: Withdrawal Charge
9% 8% 7% 6% 5% 4% 3%
0%
7-Year: Withdrawal Charge
9% 9% 8% 7% 6% 5% 4% 3%
2% 1% 0%
10-Year: Withdrawal Charge
WHAT OPTIONS DO I HAVE IF I AM CONFINED TO A NURSING HOME? You can withdraw up to 100% of your annuity’s Contract Value if you are confined to an eligible Nursing Home. This benefit is available if you are confined for at least 90 consecutive days any time after your first Contract Anniversary and meet eligibility requirements. No Withdrawal Charge or MVA apply if you qualify for this benefit. To receive the Nursing Home Waiver, you cannot be confined on the Contract Effective Date. WHAT OPTIONS DO I HAVE IF I AM DIAGNOSED WITH A TERMINAL ILLNESS? You can withdraw up to 100% of your annuity’s Contract Value if you are diagnosed with a terminal illness that is expected to result in death within one year and meet eligibility requirements. No Withdrawal Charge or MVA will be applied if you qualify for this benefit. This waiver is available after your first Contract Anniversary and the initial diagnosis of terminal illness must be made after the Contract Effective Date.
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