Common use of Account Value Clause in Contracts

Account Value. The Account Value is the sum of the amounts in each Sub-Account of the Variable Account with respect to the Policy, plus the amount of the Loan Account. The Account Value varies depending upon the Premiums paid, Expense Charges Applied to Premium, Mortality and Expense Risk Percentage deductions, Monthly Expense Charges, Monthly Cost of Insurance charges, Policy loans and loan repayments, Partial Surrenders, fees, and the Net Investment Factor for the Sub-Accounts to which Your Account Value is allocated. We measure the amounts in the Sub-Accounts in terms of Units and Unit Values. On any given date, the amount You have in a Sub-Account is equal to the Unit Value multiplied by the number of Units credited to You in that Sub-Account. Amounts allocated to a Sub-Account will be used to purchase Units of that Sub- Account. Units are redeemed when You make Partial Surrenders, undertake Policy loans or transfer amounts from a Sub-Account, and for payment of the mortality and expense risk charge, the Monthly Expense Charge, and the Monthly Cost of Insurance charge. The number of Units of each Sub-Account purchased or redeemed is determined by dividing the dollar amount of the transaction by the Unit Value for the Sub-Account. The Unit Value for each Sub-Account is established at $10.00 for the first Valuation Date. The Unit Value for any subsequent Valuation Date is equal to the Unit Value for the preceding Valuation Date multiplied by the Net Investment Factor (determined as provided below). The Unit Value of a Sub-Account for any Valuation Date is determined as of the close of the Valuation Period ending on that Valuation Date. Transactions are processed on the date We receive a Premium at Our Principal Office or any acceptable written or telephonic request is received at the Service Center. If Your Premium or request is received on a date that is not a Valuation Date, or after the close of the New York Stock Exchange on a Valuation Date, the transaction will be processed on the next subsequent Valuation Date. ACCOUNT VALUE IN THE SUB-ACCOUNTS. The Account Value attributable to each Sub-Account of the Variable Account on the Investment Start Date equals: - that portion of Net Premium received and allocated to the Sub-Account, less - the Monthly Expense Charges due on the Issue Date and subsequent Monthly Anniversary Days through the Investment Start Date, less - the Monthly Cost of Insurance deductions due from the Issue Date through the Investment Start Date. The Account Value attributable to each Sub-Account of the Variable Account on subsequent Valuation Dates is equal to: - the Account Value attributable to the Sub-Account on the preceding Valuation Date multiplied by that Sub-Account's Net Investment Factor, less the Daily Risk Percentage multiplied by the number of days in the Valuation Period multiplied by the Account Value in the Sub-Account, plus - that portion of Net Premium received and allocated to the Sub-Account during the current Valuation Period, plus - any amounts transferred by You to the Sub-Account from another Sub-Account during the current Valuation Period, plus - that portion of any loan repayment allocated to the Sub-Account during the current Valuation Period, plus - that portion of any interest credited on the Loan Account which is allocated to the Sub-Account during the current Valuation Period, less - any amounts transferred by You from the Sub-Account to another Sub-Account during the current Valuation Period, less - that portion of any Partial Surrenders deducted from the Sub-Account during the current Valuation Period, less - that portion of any Policy loan transferred from the Sub-Account to the Loan Account during the current Valuation Period, less - if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Expense Charge for the Policy Month just beginning charged to the Sub-Account, less - if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Cost of Insurance for the Policy Month just ending charged to the Sub-Account, less - if You Surrender during the current Valuation Period, that portion of the pro-rata Monthly Cost of Insurance for the Policy Month charged to the Sub-Account.

Account Value. The Account Value is the sum of the amounts in each Sub-Account of the Variable Account with respect to the Policy, plus the amount of the Loan Account. The Account Value varies depending upon the Premiums paidNet Premium, Deferred Expense Charges Applied to Load on Policy Year 1 Premium, Mortality and Expense Risk Percentage deductions, Monthly Expense Charges, Monthly Cost of Insurance charges, Policy loans and loans, loan repayments, Partial Surrenders, fees, fees and the Net Investment Factor for the Sub-Accounts to which Your Account Value is allocated. We measure the amounts in the Sub-Accounts in terms of Units and Unit Values. On any given date, the amount You have in a Sub-Account is equal to the Unit Value multiplied by the number of Units credited to You in that Sub-Account. Amounts allocated to a Sub-Account will be used to purchase Units of that Sub- Sub-Account. Units are redeemed when You make Partial Surrenders, undertake Policy loans or transfer amounts from a Sub-Account, and for payment of the mortality and expense risk charge, the Monthly Expense Charge, and the Monthly Cost of Insurance chargecharge and the Deferred Expense Load on Policy Year 1 Premium. The number of Units of each Sub-Account purchased or redeemed is determined by dividing the dollar amount of the transaction by the Unit Value for the Sub-Account. The Unit Value for each Sub-Account is established at $10.00 by Us for the first Valuation Date. The Unit Value for any subsequent Valuation Date is equal to the Unit Value for the preceding Valuation Date multiplied by the Net Investment Factor (determined as provided below). The Unit Value of a Sub-Account for any Valuation Date is determined as of the close of the Valuation Period ending on that Valuation Date. Transactions are processed on the date We receive a Premium at Our Principal Office or any acceptable written or telephonic request is received at the Service CenterOur Principal Office. If Your Premium or request is received on a date that is not a Valuation Date, or after the close of the New York Stock Exchange on a Valuation Date, the transaction will be processed on the next subsequent Valuation Date. ACCOUNT VALUE IN THE SUB-ACCOUNTS. The Account Value attributable to each Sub-Account of the Variable Account for Investment Options on the Investment Start Date equals: - · that portion of Net Premium received and allocated to the Sub-AccountInvestment Options, less - · the Monthly Expense Charges due on the Issue Date and subsequent Monthly Anniversary Days through the Investment Start Date, less - · the Monthly Cost of Insurance deductions due from the Issue Date through the Investment Start Date. The Account Value attributable to each Sub-Account of the Variable Account for Investment Options on subsequent Valuation Dates is equal to: - · the Account Value attributable to the each Sub-Account on the preceding Valuation Date multiplied by that Sub-Account's Net Investment Factor, less the Daily Risk Percentage multiplied by the number of days in the Valuation Period multiplied by the Account Value in the Sub-Account, plus - · the value of the Fixed Account on the preceding Valuation Date, accrued at interest, plus · that portion of Net Premium received and allocated to the Sub-Account each Investment Option during the current Valuation Period, plus - any amounts transferred by You to the Sub-Account from another Sub-Account during the current Valuation Period, plus - · that portion of any loan repayment allocated to the Sub-Account any Investment Option during the current Valuation Period, plus - if that day is an Policy Anniversary, any amount transferred to an Investment Option by which the Account Value in the Loan Account exceeds the outstanding Policy loan, less that portion of any interest credited on the Loan Account which is allocated to the Sub-Account Partial Surrender deducted from each Investment Option during the current Valuation Period, less - any amounts transferred by You from the Sub-Account to another Sub-Account during the current Valuation Period, less - that portion of any Partial Surrenders deducted from the Sub-Account during the current Valuation Period, less - · that portion of any Policy loan transferred from the Sub-Account each Investment Option to the Loan Account during the current Valuation Period, less - if an Anniversary occurs during the current Valuation Period, that portion of the Deferred Expense Load on Policy Year 1 Premium charged to each Investment Option, less · if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Expense Charge due for the Policy Month just beginning charged to the Sub-Accounteach Investment Option, less - · if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Cost of Insurance for the Policy Month just ending charged to the Sub-Accounteach Investment Option, less - · if You Surrender surrender during the current Valuation Period, that portion of the pro-rata Monthly Cost of Insurance for the Policy Month charged to the Sub-Accounteach Investment Option.

Account Value. The Account Value is the sum of the amounts in each Sub-Account of the Variable Account with respect to the Policy, plus the amount of the Loan Account. The Account Value varies depending upon the Premiums paid, Expense Charges Charge Applied to Premium, Mortality and Expense Risk Percentage deductionsCharges, Monthly Expense Charges, Monthly Cost Costs of Insurance chargesInsurance, Partial Withdrawals, fees, Policy loans and loan repayments, Partial Surrenders, feesDebt, and the Net Investment Factor for the Sub-Accounts to which Your Factor. Variable Account Value is allocated. We measure the amounts in the Variable Sub-Accounts in terms of Units and Unit Values. On any given date, the amount You have in a Variable Sub-Account is equal to the Unit Value multiplied by the number of Units credited to You in that Variable Sub-Account. Amounts allocated to a Variable Sub-Account will be used to purchase Units of that Sub- Variable Sub-Account. Units are redeemed when You make Partial SurrendersWithdrawals, undertake Policy loans or loans, transfer amounts from a Variable Sub-Account, and for payment the deductions of the mortality and expense risk charge, the Monthly Expense Charge, Monthly Mortality and Expense Risk Charge, fees, and the Monthly Cost Costs of Insurance chargeInsurance. The number of Units of each Variable Sub-Account purchased or redeemed is determined by dividing the dollar amount of the transaction by the Unit Value for the Variable Sub-Account. The Unit Value for each Variable Sub-Account is established at $10.00 for the first Valuation DateDate of the Variable Sub-Account. The Unit Value for any subsequent Valuation Date is equal to the Unit Value for the preceding Valuation Date multiplied by the Net Investment Factor (determined as provided below). The Unit Value of a Variable Sub-Account for any Valuation Date is determined as of the close of the Valuation Period ending on that Valuation Date. Transactions are processed on the date We receive a Premium at Our Principal Office or any acceptable written or telephonic request is received at the Service CenterOur Principal Office. If Your Premium or request is received on a date that is not a Valuation Date, or after the close of the New York Stock Exchange on a Valuation Date, the transaction will be processed on the next subsequent Valuation Date. ACCOUNT VALUE IN THE SUBAccount Value in the Sub-ACCOUNTS. Accounts The Account Value attributable to each Sub-Account of the Variable Account on the Investment Start Date equals: - that portion of Net Premium received and allocated to the Sub-Account, less - that portion of the Monthly Expense Charges due on the Issue Policy Date and subsequent Monthly Anniversary Days through the Investment Start DateDate charged to the Sub-Account, less - that portion of the Monthly Cost of Insurance deductions due from the Issue Policy Date through the Investment Start DateDate charged to the Sub-Account, less that portion of the Mortality and Expense Risk Charge due from the Policy Date through the Investment Start Date charged to the Sub-Account. CVVUL-2001 Page 15 The Account Value attributable to each Sub-Account of the Variable Account on subsequent Valuation Dates is equal to: - the Account Value attributable to the Variable Sub-Account on the preceding Valuation Date Date, multiplied by that Sub-Account's Net Investment Factor, less plus the Daily Risk Percentage multiplied by value of the number of days in Fixed Account on the preceding Valuation Period multiplied by the Account Value in the Sub-AccountDate, accrued at interest, plus - that portion of Net Premium received and allocated to the Sub-Account during the current Valuation Period, plus - any amounts transferred by You to the Sub-Account from another Sub-Account during the current Valuation Period, plus - that portion of any loan repayment allocated to the Sub-Account during the current Valuation Period, plus - that portion of any interest credited on the Loan Account which is allocated to the Sub-Account during the current Valuation Period, less - any amounts transferred by You from the Sub-Account to another Sub-Account during the current Valuation Period, less - that portion of any Partial Surrenders Withdrawals deducted from the Sub-Account during the current Valuation Period, plus any amounts transferred among the Sub-Accounts for a Policy loan, less - that portion of any Policy loan transferred from surrender charges associated with a decrease in the Specified Face Amount charged to the Sub-Account to the Loan Account during the current Valuation Period, less - if a Monthly Anniversary Day occurs during the current Valuation PeriodProcessing Date, that portion of the Monthly Expense Charge for the Policy Month just beginning Deductions charged to the Sub-AccountAccount for the Policy Month. Net Investment Factor The Net Investment Factor for each Variable Sub-Account for any Valuation Period is the quotient of (1) divided by (2) where: is the net result of: the net asset value of a Fund share held in the Variable Sub-Account determined as of the end of the Valuation Period, less - plus the per share amount of any dividend or other distribution declared on Fund shares held in the Variable Sub-Account if a Monthly Anniversary Day the "ex-dividend" date occurs during the current Valuation Period, that portion plus or minus a per share credit or charge with respect to any taxes reserved for by Us, or paid by Us if not previously reserved for, during the Valuation Period which is determined by Us to be attributable to the operation of the Variable Sub-Account; and is the net asset value of a Fund share held in the Variable Sub-Account determined as of the end of the preceding Valuation Period. The Net Investment Factor may be greater or less than one. Monthly Deductions There will be no Monthly Deductions on and after the Anniversary on which the Insured is Attained Age 100. Mortality and Expense Risk Charge The Mortality and Expense Risk Charge is a percentage of the Account Value attributable to the Variable Sub-Accounts at the beginning of a Valuation Date including any Premium payments to be allocated to the Variable Sub-Accounts which are received on such Valuation Date. The percentage is shown in Section 1. The Charge is imposed monthly and, unless You direct otherwise, is deducted proportionally from the amounts in the Sub-Accounts in excess of the Policy Debt. Monthly Expense Charge The Monthly Expense Charge is shown in Section 1. Unless You direct otherwise, the Monthly Expense Charge deduction will be charged proportionately to the amounts in the Variable Sub-Accounts and the amount of the Fixed Account in excess of the Policy Debt. CVVUL-2001 Page 16 Monthly Cost of Insurance We deduct a Monthly Cost of Insurance from the Account Value to cover anticipated costs of providing insurance coverage. Unless You direct otherwise, the Monthly Cost of Insurance for deduction will be charged proportionally to the amounts in the Variable Sub-Accounts and to the Fixed Account in excess of the Policy Month just ending charged to the Sub-Account, less - if You Surrender during the current Valuation Period, that portion of the pro-rata Debt. The Monthly Cost of Insurance equals the sum of (1), (2), and (3) where is the cost of insurance equal to the Monthly Cost of Insurance rate (described below) multiplied by the net amount at risk divided by 1,000; is the monthly rider cost (as described in the riders) for any riders which are a part of the Policy; and is the Flat Extra specified in Section 1, if applicable, multiplied by the net amount at risk divided by 1,000. The net amount at risk equals: the death benefit divided by 1.00247; less the Account Value on the Valuation Date prior to assessing the Monthly Expense Charge, the Monthly Mortality and Expense Risk Charge, and the Monthly Cost of Insurance deduction. The cost of insurance deductions described above are determined separately for the initial Specified Face Amount and the SIA and each increase in the Specified Face Amount or the SIA. In calculating the net amount at risk, the Account Value will first be allocated to the initial Specified Face Amount and then to the SIA and then to each increase in the Specified Face Amount or SIA in the order in which the increases were made. Monthly Cost of Insurance Rates The Monthly Cost of Insurance rates (except for any such rate applicable to an increase in the Specified Face Amount or the SIA) are based on the length of time the Policy has been in force and the Insured's sex, Issue Age, Class, and table rating, if any. The Monthly Cost of Insurance rates will be determined by Us from time to time based on Our expectations of future experience with respect to mortality costs, persistency, interest rates, expenses, and taxes. However, the Monthly Cost of Insurance rates for the Specified Face Amount and the SIA will not be greater than those shown in Section 2. The Monthly Cost of Insurance rates applicable to each increase in the Specified Face Amount or the SIA are based on the length of time the increase has been in force and the Insured's sex, Issue Age, Class, and table rating, if any. The Monthly Cost of Insurance rates will be determined by Us from time to time based on Our expectations of future experience with respect to mortality costs, persistency, interest rates, expenses, and taxes. However, the Monthly Cost of Insurance rates for the Specified Face Amount and the SIA will not be greater than the maximum cost of insurance rates provided by Us in Section 2 for each increase. Basis of Computation Guaranteed maximum Monthly Cost of Insurance rates are based on the 1980 Commissioner's Standard Ordinary Mortality Table. The guaranteed maximum Monthly Cost of Insurance rates reflect any additional charges due to underwriting classification, as shown in Section 1. We have filed a detailed statement of Our methods for computing Cash Values with the insurance department in the jurisdiction where the Policy is delivered. These values are equal to or exceed the minimum required by law. Insufficient Value If, on a Processing Date, the Cash Surrender Value is equal to or less than zero, then the Policy will terminate for no value, subject to the Grace Period provision. During the No-Lapse Guarantee Period shown in Section 1, the Policy will not terminate by reason of insufficient value if the Policy satisfies the minimum premium test as described herein. The No-Lapse Guarantee Period begins on the Policy Date shown in Section 1. During the No-Lapse guarantee period the Account Value will never be less than zero. Any Monthly Deductions unpaid during the No-Lapse Guarantee Period will not be payable at the end of the No-Lapse Guarantee Period. CVVUL-2001 Page 17NY Minimum Premium Test The Policy satisfies the minimum premium test if the Premiums paid less any Partial Withdrawals and less any Policy Debt exceed the sum of the Minimum Monthly Premiums which applied to the Policy in each Policy Month charged from the Policy Date to the Sub-AccountValuation Date on which the test is applied. The Minimum Monthly Premium applicable to the Policy is shown in Section 1. The Minimum Monthly Premium may be revised as a result of any of the following changes to the Policy: a change in the Specified Face Amount; a change in the Supplemental Insurance Amount; a change in supplemental benefits. The revised Minimum Monthly Premium will be effective as of the effective date of the change to the Policy triggering the revision and will remain in effect until again revised by any of the above changes.

Account Value. The Account Value is the sum of the amounts in each Sub-Account of the Variable Account with respect to the Policy, plus the amount of the Loan Account. The Account Value varies depending upon the Premiums paidNet Premium, Deferred Expense Charges Applied to Load on Policy Year 1 Premium, Mortality and Expense Risk Percentage deductions, Monthly Expense Charges, Monthly Cost of Insurance charges, Policy loans and loans, loan repayments, Partial Surrenders, fees, fees and the Net Investment Factor for the Sub-Accounts to which Your Account Value is allocated. We measure the amounts in the Sub-Accounts in terms of Units and Unit Values. On any given date, the amount You have in a Sub-Account is equal to the Unit Value multiplied by the number of Units credited to You in that Sub-Account. Amounts allocated to a Sub-Account will be used to purchase Units of that Sub- Sub-Account. Units are redeemed when You make Partial Surrenders, undertake Policy loans or transfer amounts from a Sub-Account, and for payment of the mortality and expense risk charge, the Monthly Expense Charge, and the Monthly Cost of Insurance chargecharge and the Deferred Expense Load on Policy Year 1 Premium. The number of Units of each Sub-Account purchased or redeemed is determined by dividing the dollar amount of the transaction by the Unit Value for the Sub-Account. The Unit Value for each Sub-Account is established at $10.00 by Us for the first Valuation Date. The Unit Value for any subsequent Valuation Date is equal to the Unit Value for the preceding Valuation Date multiplied by the Net Investment Factor (determined as provided below). The Unit Value of a Sub-Account for any Valuation Date is determined as of the close of the Valuation Period ending on that Valuation Date. Transactions are processed on the date We receive a Premium at Our Principal Office or any acceptable written or telephonic request is received at the Service CenterOur Principal Office. If Your Premium or request is received on a date that is not a Valuation Date, or after the close of the New York Stock Exchange on a Valuation Date, the transaction will be processed on the next subsequent Valuation Date. ACCOUNT VALUE IN THE SUB-ACCOUNTS. The Account Value attributable to each Sub-Account of the Variable Account for Investment Options on the Investment Start Date equals: - ·that portion of Net Premium received and allocated to the Sub-AccountInvestment Options, less - ·the Monthly Expense Charges due on the Issue Date and subsequent Monthly Anniversary Days through the Investment Start Date, less - ·the Monthly Cost of Insurance deductions due from the Issue Date through the Investment Start Date. The Account Value attributable to each Sub-Account of the Variable Account for Investment Options on subsequent Valuation Dates is equal to: - ·the Account Value attributable to the each Sub-Account on the preceding Valuation Date multiplied by that Sub-Account's Net Investment Factor, less the Daily Risk Percentage multiplied by the number of days in the Valuation Period multiplied by the Account Value in the Sub-Account, plus - ·the value of the Fixed Account on the preceding Valuation Date, accrued at interest, plus ·that portion of Net Premium received and allocated to the Sub-Account each Investment Option during the current Valuation Period, plus - any amounts transferred by You to the Sub-Account from another Sub-Account during the current Valuation Period, plus - ·that portion of any loan repayment allocated to the Sub-Account any Investment Option during the current Valuation Period, plus - if that day is an Anniversary, any amount transferred to an Investment Option by which the Account Value in the Loan Account exceeds the outstanding Policy loan, less that portion of any interest credited on the Loan Account which is allocated to the Sub-Account Partial Surrender deducted from each Investment Option during the current Valuation Period, less - any amounts transferred by You from the Sub-Account to another Sub-Account during the current Valuation Period, less - that portion of any Partial Surrenders deducted from the Sub-Account during the current Valuation Period, less - ·that portion of any Policy loan transferred from the Sub-Account each Investment Option to the Loan Account during the current Valuation Period, less - if an Anniversary occurs during the current Valuation Period, that portion of the Deferred Expense Load on Policy Year 1 Premium charged to each Investment Option, less ·if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Expense Charge due for the Policy Month just beginning charged to the Sub-Accounteach Investment Option, less - ·if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Cost of Insurance for the Policy Month just ending charged to the Sub-Accounteach Investment Option, less - ·if You Surrender surrender during the current Valuation Period, that portion of the pro-rata Monthly Cost of Insurance for the Policy Month charged to the each Investment Option. Net Investment Factor. The Net Investment Factor for each Sub-Account.Account for any Valuation Period is determined by dividing (1) by (2) where:

Account Value. The Account Value is the sum of the amounts in each Sub-Account of the Variable Account with respect to the Policy, plus the amount of the Loan Account. The Account Value varies depending upon the Premiums paid, Expense Charges Applied to Net Premium, Mortality and Expense Risk Percentage deductions, Monthly Expense Charges, Monthly Cost of Insurance charges, Policy loans and loans, loan repayments, Partial Surrenders, fees, fees and the Net Investment Factor for the Sub-Accounts to which Your Account Value is allocated. We measure the amounts in the Sub-Accounts in terms of Units and Unit Values. On any given date, the amount You have in a Sub-Account is equal to the Unit Value multiplied by the number of Units credited to You in that Sub-Account. Amounts allocated to a Sub-Account will be used to purchase Units of that Sub- Sub-Account. Units are redeemed when You make Partial Surrenders, undertake Policy loans or transfer amounts from a Sub-Account, and for payment of the mortality and expense risk charge, the Monthly Expense Charge, the Monthly Face Amount Charge, and the Monthly Cost of Insurance charge. The number of Units of each Sub-Account purchased or redeemed is determined by dividing the dollar amount of the transaction by the Unit Value for the Sub-Account. The Unit Value for each Sub-Account is established at $10.00 by Us for the first Valuation Date. The Unit Value for any subsequent Valuation Date is equal to the Unit Value for the preceding Valuation Date multiplied by the Net Investment Factor (determined as provided below). The Unit Value of a Sub-Account for any Valuation Date is determined as of the close of the Valuation Period ending on that Valuation Date. Transactions are processed on the date We receive a Premium at Our Principal Office or any acceptable written or telephonic request is received at the Service CenterOur Principal Office. If Your Premium or request is received on a date that is not a Valuation Date, or after the close of the New York Stock Exchange on a Valuation Date, the transaction will be processed on the next subsequent Valuation Date. ACCOUNT VALUE IN THE SUB-ACCOUNTS. The Account Value attributable to each Sub-Account of the Variable Account for Investment Options on the Investment Start Date equals: - · that portion of Net Premium received and allocated to the Sub-AccountInvestment Options, less - · the Monthly Expense Charges due on the Issue Date and subsequent Monthly Anniversary Days through the Investment Start Date, less - · the Monthly Face Amount Charges due on the Issue Date and subsequent Monthly Anniversary Days through the Investment Start Date, less · the Monthly Cost of Insurance deductions due from the Issue Date through the Investment Start Date. The Account Value attributable to each Sub-Account of the Variable Account for Investment Options on subsequent Valuation Dates is equal to: - · the Account Value attributable to the each Sub-Account on the preceding Valuation Date multiplied by that Sub-Account's ’s Net Investment Factor, less the Daily Risk Percentage multiplied by the number of days in the Valuation Period multiplied by the Account Value in the Sub-Account, plus - · the value of the Fixed Account on the preceding Valuation Date, accrued at interest, plus · that portion of Net Premium received and allocated to the Sub-Account each Investment Option during the current Valuation Period, plus - any amounts transferred by You to the Sub-Account from another Sub-Account during the current Valuation Period, plus - · that portion of any loan repayment allocated to the Sub-Account during the current Valuation Period, plus - that portion of any interest credited on the Loan Account which is allocated to the Sub-Account Investment Option during the current Valuation Period, less - · that portion of any amounts transferred by You Partial Surrender deducted from the Sub-Account to another Sub-Account each Investment Option during the current Valuation Period, less - that portion of any Partial Surrenders deducted from the Sub-Account during the current Valuation Period, less - · that portion of any Policy loan transferred from the Sub-Account each Investment Option to the Loan Account during the current Valuation Period, less - · if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Expense Charge due for the Policy Month just beginning charged to the Sub-Accounteach Investment Option, less - · if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Face Amount Charge due for the Policy Month just beginning charged to each Investment Option, less · if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Cost of Insurance for the Policy Month just ending charged to the Sub-Account, less - if You Surrender during the current Valuation Period, that portion of the pro-rata Monthly Cost of Insurance for the Policy Month charged to the Sub-Accounteach Investment Option.

Account Value. The Account Value is the sum of the amounts in each Sub-Account of the Variable Account with respect to the Policy, plus the amount of the Loan Account. The Account Value varies depending upon the Premiums paid, Expense Charges Applied to Premium, Mortality and Expense Risk Percentage deductions, Monthly Expense Charges, Monthly Cost of Insurance charges, Policy loans and loan repayments, Partial Surrenders, fees, and the Net Investment Factor for the Sub-Accounts to which Your Account Value is allocated. We measure the amounts in the Sub-Accounts in terms of Units and Unit Values. On any given date, the amount You have in a Sub-Account is equal to the Unit Value multiplied by the number of Units credited to You in that Sub-Account. Amounts allocated to a Sub-Account will be used to purchase Units of that Sub- Sub-Account. Units are redeemed when You make Partial Surrenders, undertake Policy loans or transfer amounts from a Sub-Account, and for payment of the mortality and expense risk charge, the Monthly Expense Charge, the Monthly Face Amount Charge, and the Monthly Cost of Insurance charge. The number of Units of each Sub-Account purchased or redeemed is determined by dividing the dollar amount of the transaction by the Unit Value for the Sub-Account. The Unit Value for each Sub-Account is established at $10.00 by Us for the first Valuation Date. The Unit Value for any subsequent Valuation Date is equal to the Unit Value for the preceding Valuation Date multiplied by the Net Investment Factor (determined as provided below). The Unit Value of a Sub-Account for any Valuation Date is determined as of the close of the Valuation Period ending on that Valuation Date. Transactions are processed on the date We receive a Premium at Our Principal Office or any acceptable written or telephonic request is received at the Service CenterOur Principal Office. If Your Premium or request is received on a date that is not a Valuation Date, or after the close of the New York Stock Exchange on a Valuation Date, the transaction will be processed on the next subsequent Valuation Date. ACCOUNT VALUE IN THE SUB-ACCOUNTS. The Account Value attributable to each Sub-Account of the Variable Account for Investment Options on the Investment Start Date equals: - · that portion of Net Premium received and allocated to the Sub-AccountInvestment Options, less - · the Monthly Expense Charges due on the Issue Date and subsequent Monthly Anniversary Days through the Investment Start Date, less - · the Monthly Face Amount Charges due on the Issue Date and subsequent Monthly Anniversary Days through the Investment Start Date, less · the Monthly Cost of Insurance deductions due from the Issue Date through the Investment Start Date. The Account Value attributable to each Sub-Account of the Variable Account for Investment Options on subsequent Valuation Dates is equal to: - · the Account Value attributable to the each Sub-Account on the preceding Valuation Date multiplied by that Sub-Account's ’s Net Investment Factor, less the Daily Risk Percentage multiplied by the number of days in the Valuation Period multiplied by the Account Value in the Sub-Account, plus - · the value of the Fixed Account on the preceding Valuation Date, accrued at interest, plus · that portion of Net Premium received and allocated to the Sub-Account each Investment Option during the current Valuation Period, plus - any amounts transferred by You to the Sub-Account from another Sub-Account during the current Valuation Period, plus - · that portion of any loan repayment allocated to the Sub-Account during the current Valuation Period, plus - that portion of any interest credited on the Loan Account which is allocated to the Sub-Account Investment Option during the current Valuation Period, less - · that portion of any amounts transferred by You Partial Surrender deducted from the Sub-Account to another Sub-Account each Investment Option during the current Valuation Period, less - that portion of any Partial Surrenders deducted from the Sub-Account during the current Valuation Period, less - · that portion of any Policy loan transferred from the Sub-Account each Investment Option to the Loan Account during the current Valuation Period, less - · if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Expense Charge due for the Policy Month just beginning charged to the Sub-Accounteach Investment Option, less - · if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Face Amount Charge due for the Policy Month just beginning charged to each Investment Option, less · if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Cost of Insurance for the Policy Month just ending charged to the Sub-Account, less - if You Surrender during the current Valuation Period, that portion of the pro-rata Monthly Cost of Insurance for the Policy Month charged to the Sub-Accounteach Investment Option.

Account Value. The Account Value is the sum of the amounts in each Sub-Account of the Variable Account with respect to the Policy, plus the amount of the Loan Account. The Account Value varies depending upon the Premiums paid, Expense Charges Applied to Premium, Mortality and Expense Risk Percentage deductions, Monthly Expense Charges, Monthly Cost of Insurance charges, Policy loans and loan repayments, Partial Surrenders, fees, and the Net Investment Factor for the Sub-Accounts to which Your Account Value is allocated. We measure the amounts in the Sub-Accounts in terms of Units and Unit Values. On any given date, the amount You have in a Sub-Account is equal to the Unit Value multiplied by the number of Units credited to You in that Sub-Account. Amounts allocated to a Sub-Account will be used to purchase Units of that Sub- Sub-Account. Units are redeemed when You make Partial Surrenders, undertake Policy loans or transfer amounts from a Sub-Account, and for payment of the mortality and expense risk charge, the Monthly Expense Charge, and the Monthly Cost of Insurance charge. The number of Units of each Sub-Account purchased or redeemed is determined by dividing the dollar amount of the transaction by the Unit Value for the Sub-Account. The Unit Value for each Sub-Account is established at $10.00 for the first Valuation Date. The Unit Value for any subsequent Valuation Date is equal to the Unit Value for the preceding Valuation Date multiplied by the Net Investment Factor (determined as provided below). The Unit Value of a Sub-Account for any Valuation Date is determined as of the close of the Valuation Period ending on that Valuation Date. Transactions are processed on the date We receive a Premium at Our Principal Office or any acceptable written or telephonic request is received at the Service CenterOur Principal Office. If Your Premium or request is received on a date that is not a Valuation Date, or after the close of the New York Stock Exchange on a Valuation Date, the transaction will be processed on the next subsequent Valuation Date. ACCOUNT VALUE IN THE SUB-ACCOUNTS. The Account Value attributable to each Sub-Account of the Variable Account on the Investment Start Date equals: - that portion of Net Premium received and allocated to the Sub-Account, less - the Monthly Expense Charges due on the Issue Date and subsequent Monthly Anniversary Days through the Investment Start Date, less - the Monthly Cost of Insurance deductions due from the Issue Date through the Investment Start Date. The Account Value attributable to each Sub-Account of the Variable Account on subsequent Valuation Dates is equal to: - the Account Value attributable to the Sub-Account on the preceding Valuation Date multiplied by that Sub-Account's Net Investment Factor, less the Daily Risk Percentage multiplied by the number of days in the Valuation Period multiplied by the Account Value in the Sub-Account, plus - that portion of Net Premium received and allocated to the Sub-Account during the current Valuation Period, plus - any amounts transferred by You to the Sub-Account from another Sub-Account during the current Valuation Period, plus - that portion of any loan repayment allocated to the Sub-Account during the current Valuation Period, plus - that portion of any interest credited on the Loan Account which is allocated to the Sub-Account during the current Valuation Period, less - any amounts transferred by You from the Sub-Account to another Sub-Account during the current Valuation Period, less - that portion of any Partial Surrenders deducted from the Sub-Account during the current Valuation Period, less - that portion of any Policy loan transferred from the Sub-Account to the Loan Account during the current Valuation Period, less - if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Expense Charge for the Policy Month just beginning charged to the Sub-Account, less - if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Cost of Insurance for the Policy Month just ending charged to the Sub-Account, less - if You Surrender during the current Valuation Period, that portion of the pro-rata Monthly Cost of Insurance for the Policy Month charged to the Sub-Account.

Account Value. The Account Value is the sum of the amounts in each Sub-Account of the Variable Account with respect to the Policy, plus the amount of the Loan Account. The Account Value varies depending upon the Premiums paid, Expense Charges Charge Applied to Premium, Mortality and Expense Risk Percentage deductionsCharges, Monthly Expense Charges, Monthly Cost Costs of Insurance chargesInsurance, Partial Withdrawals, fees, Policy loans and loan repayments, Partial Surrenders, feesDebt, and the Net Investment Factor for the Sub-Accounts to which Your Factor. Variable Account Value is allocated. We measure the amounts in the Variable Sub-Accounts in terms of Units and Unit Values. On any given date, the amount You have in a Variable Sub-Account is equal to the Unit Value multiplied by the number of Units credited to You in that Variable Sub-Account. Amounts allocated to a Variable Sub-Account will be used to purchase Units of that Sub- Variable Sub-Account. Units are redeemed when You make Partial SurrendersWithdrawals, undertake Policy loans or loans, transfer amounts from a Variable Sub-Account, and for payment the deductions of the mortality and expense risk charge, the Monthly Expense Charge, Monthly Mortality and Expense Risk Charge, fees, and the Monthly Cost Costs of Insurance chargeInsurance. The number of Units of each Variable Sub-Account purchased or redeemed is determined by dividing the dollar amount of the transaction by the Unit Value for the Variable Sub-Account. The Unit Value for each Variable Sub-Account is established at $10.00 for the first Valuation DateDate of the Variable Sub-Account. The Unit Value for any subsequent Valuation Date is equal to the Unit Value for the preceding Valuation Date multiplied by the Net Investment Factor (determined as provided below). The Unit Value of a Variable Sub-Account for any Valuation Date is determined as of the close of the Valuation Period ending on that Valuation Date. Transactions are processed on the date We receive a Premium at Our Principal Office or any acceptable written or telephonic request is received at the Service CenterOur Principal Office. If Your Premium or request is received on a date that is not a Valuation Date, or after the close of the New York Stock Exchange on a Valuation Date, the transaction will be processed on the next subsequent Valuation Date. ACCOUNT VALUE IN THE SUBAccount Value in the Sub-ACCOUNTS. Accounts The Account Value attributable to each Sub-Account of the Variable Account on the Investment Start Date equals: - that portion of Net Premium received and allocated to the Sub-Account, less - that portion of the Monthly Expense Charges Deductions due on the Issue Policy Date and subsequent Monthly Anniversary Days through the Investment Start Date, less - Date charged to the Monthly Cost of Insurance deductions due from the Issue Date through the Investment Start DateSub-Account. SVUL-2001 Page 15 The Account Value attributable to each Sub-Account of the Variable Account on subsequent Valuation Dates is equal to: - the Account Value attributable to the Variable Sub-Account on the preceding Valuation Date Date, multiplied by that Sub-Account's Net Investment Factor, less plus the Daily Risk Percentage multiplied by value of the number of days in Fixed Account on the preceding Valuation Period multiplied by the Account Value in the Sub-AccountDate, accrued at interest, plus - that portion of Net Premium received and allocated to the Sub-Account during the current Valuation Period, plus - any amounts transferred by You to the Sub-Account from another Sub-Account during the current Valuation Period, plus - that portion of any loan repayment allocated to the Sub-Account during the current Valuation Period, plus - that portion of any interest credited on the Loan Account which is allocated to the Sub-Account during the current Valuation Period, less - any amounts transferred by You from the Sub-Account to another Sub-Account during the current Valuation Period, less - that portion of any Partial Surrenders Withdrawals deducted from the Sub-Account during the current Valuation Period, plus any amounts transferred among the Sub-Accounts for a Policy loan, less - that portion of any Policy loan transferred from surrender charges associated with a decrease in the Specified Face Amount charged to the Sub-Account to the Loan Account during the current Valuation Period, less - if a Monthly Anniversary Day occurs during the current Valuation PeriodProcessing Date, that portion of the Monthly Expense Charge for the Policy Month just beginning Deductions charged to the Sub-Account, less - if a Monthly Anniversary Day occurs during the current Valuation Period, that portion of the Monthly Cost of Insurance Account for the Policy Month just ending charged to the Sub-Account, less - if You Surrender during the current Valuation Period, that portion of the pro-rata Monthly Cost of Insurance for the Policy Month charged to the Sub-AccountMonth.