The Free Withdrawal Amount refers to the maximum amount a policyholder can withdraw from their life insurance policy or annuity in a contract year without incurring a surrender charge. This limit is set by the insurer and is typically expressed as a percentage of the account value or premiums paid

The YTD Free Amount (Year-To-Date Free Withdrawal Amount) refers to the total amount withdrawn so far in the current contract year that was within the free withdrawal limit, meaning it did not incur surrender charges. This tracks how much of the allowable free withdrawal limit has been used

The Minimum Withdrawal Amount refers to the smallest amount a policyholder can withdraw from their life insurance policy or annuity in a single transaction, as defined by the insurer. This ensures that withdrawals remain administratively efficient and align with policy rules

The Maximum Withdrawal Amount refers to the highest amount a policyholder can withdraw from their life insurance policy or annuity in a single transaction or within a policy year, as set by the insurer. This ensures that withdrawals do not deplete the policy’s cash value too quickly or violate contract terms

The Annual Withdrawal Limit for No Coverage Decrease refers to the maximum amount a policyholder can withdraw from their life insurance policy within a policy year without reducing the death benefit or coverage amount. This ensures that policyholders can access cash value while maintaining full coverage

The Max Withdrawal Request Allowed During Vesting Period refers to the highest number of withdrawal transactions permitted within the vesting period of a life insurance policy or annuity. This ensures policyholders follow contract rules while maintaining eligibility for vested benefits

The YTD (Year-To-Date) Number of Withdrawals refers to the total count of withdrawal transactions made by the policyholder from the beginning of the policy year to the present date. This tracks how frequently funds have been withdrawn within the current policy year

The Max Withdrawal Request Allowed After Vesting Period refers to the highest number of withdrawals a policyholder can make per year or over the life of the policy after the vesting period has ended. This ensures that policyholders can access their funds while still maintaining policy sustainability and compliance with contract terms

The Total YTD (Year-To-Date) Withdrawal Taken refers to the total amount withdrawn by the policyholder from their life insurance policy or annuity within the current contract year. This tracks all withdrawals made so far from the beginning of the policy year up to the present date.

The Number of Withdrawals refers to the total count of withdrawal transactions made by the policyholder within a specified period, typically within the current policy year or calendar year. This tracks how frequently funds have been withdrawn from the policy

The Withdrawal Allowed Start Date refers to the calculated date from which the policyholder is permitted to make withdrawals from the policy’s cash value or annuity funds. This date is determined based on policy terms, surrender charge periods, and regulatory restrictions

The MVA Adjustment refers to the Market Value Adjustment applied to an annuity contract when a withdrawal or surrender occurs before the end of the contract period. It adjusts the contract value based on changes in interest rates since the contract was issued.

MVA Period (Market Value Adjustment Period) refers to the specific timeframe during which a Market Value Adjustment (MVA) may be applied to withdrawals, surrenders, or transfers from a fixed or indexed annuity contract. This period typically aligns with the guaranteed interest rate period and is designed to account for interest rate fluctuations that affect the insurer’s investment value

The MVA Indicator is a flag or marker that indicates whether a Market Value Adjustment (MVA) applies to an annuity or investment. This adjustment impacts the contract value when withdrawals or surrenders occur before the end of the contract’s term.

The Remaining RMD Amount refers to the amount of Required Minimum Distribution (RMD) that the policyholder still needs to withdraw before the end of the calendar year to avoid IRS penalties. It is calculated as the Total RMD Annual Amount minus any withdrawals already taken during the year

The Actuarial Present Value (APV) Amount refers to the present value of future expected benefits or cash flows from a life insurance policy, annuity, or pension plan, discounted to the end of the year. It is used in actuarial calculations to estimate the current value of future liabilities or benefits, considering mortality rates, interest rates, and time value of money.

The Prior Year-End Account Value refers to the total account value of a life insurance policy or annuity as of December 31 of the previous year. It represents the ending balance of the policy`s cash value or investment portion at the close of the prior year, before any transactions in the current year

The RMD Recalculation Date refers to the date when the Required Minimum Distribution (RMD) amount is automatically recalculated for qualified annuities and retirement contracts. This recalculation occurs annually, starting in the year after December 31 of the year the owner turns 69.5, and continues every year thereafter