Common use of Exchange Redemption Clause in Contracts

Exchange Redemption. A Contractholder-Initiated fund transfer of any portion of a Contractholder’s assets in a Contract of a Restricted Fund (not including the withdrawal or distribution of assets out of a Contract).

Appears in 2 contracts

Sources: Fund Participation Agreement (PLAIC Variable Annuity Account S), Fund Participation Agreement (Protective COLI VUL)