Withdrawal Charge A withdrawal charge applies to amounts you withdraw over the free withdrawal amount. The charge decreases over time based on the number of years since the beginning of the GRO. It is applied after the MVA. The withdrawal charge is the following percentages applied to the withdrawal amount: GRO Withdrawal Charge Schedule (Initial and Renewal)
GRO Period 1
2
3
4
5
6
7
8
9
10
10-year
8% 8% 7% 7% 6% 5% 4% 3% 2% 1%
7-year
8% 8% 7% 7% 6% 5% 4%
5-year
8% 8% 7% 7% 6%
4-year
8% 8% 7% 7%
California GRO Withdrawal Charge Schedule (Initial and Renewal)
GRO Period 1
2
3
4
5
6
7
8
10-year
8% 7% 6% 5% 4% 3% 2% 1%
7-year
8% 7% 6% 5% 4% 3% 2%
5-year
8% 7% 6% 5% 4%
4-year
8% 7% 6% 5%
New York Initial GRO Withdrawal Charge Schedule
Withdrawal Charge Waivers Withdrawal charges and MVA may be waived for the following with prior notification: \ Limited life expectancy 8,9 \ Confinement to a nursing home, hospital or licensed health care facility 8,9 \ Required minimum distributions
GRO Period 1
2
3
4
5
6
7
10-year
7% 6% 5% 4% 3% 2% 1%
7-year
7% 6% 5% 4% 3% 2% 1%
5-year
7% 6% 5% 4% 3%
4-year
7% 6% 5% 4%
New York Renewal GRO Withdrawal Charge Schedule
GRO Period 1
2
3
4
5
7-year
5% 4% 3% 2% 1%
5-year
5% 4% 3% 2% 1%
4-year
4% 3% 2% 1%
8 Not available in California. 9 Limited life expectancy waiver available if, after the contract date, the owner is diagnosed as having a life expectancy of 12 or fewer months. Confinement waiver available on or after the first contract anniversary after the owner is confined for at least 60 consecutive days.
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