Common use of ANNUITY BENEFIT Clause in Contracts

ANNUITY BENEFIT. ANNUITY OPTIONS Annuity options are available on a fixed, variable or combination fixed and variable basis. The annuity options described below or any alternative option offered by the Company may be chosen. If no option is chosen, monthly benefit payments under a variable life annuity with payments guaranteed for 10 years will be made. The Owner may also elect to have the death benefit applied under a life annuity or a period certain annuity not extending beyond the Beneficiary's life expectancy. Such an election may not be altered by the Beneficiary. Fixed annuity options are funded through the Fixed Account. Variable annuity options may be funded through one or more of the Sub-Accounts. Not all Sub-Accounts may be made available. ANNUITY BENEFIT Annuity benefit payments may be received on a PAYMENTS monthly, quarterly, semiannual or annual basis. If the first payment would be less than the Minimum Annuity Benefit Payment (see Specifications page), a single payment will be made instead. The Company reserves the right to increase the minimum payment amount to not more than $500, subject to applicable state regulations. Satisfactory proof of the payee's date of birth must be received at the Principal Office before annuity benefit payments begin. Where a life annuity option has been elected, the Company may require satisfactory proof that the payee is alive before any payment is made. ANNUITY VALUE The amount of the first annuity benefit payment under all available options except period certain options will depend on the age of the payee or payees on the Annuity Date and the annuity value applied. Period certain options are based on the duration of payments and the annuity value. For life annuity options and non-commutable period certain options with a duration of 10 years or more, the annuity value will be the Accumulated Value and may include any applicable Market Value Adjustment less any premium tax. For commutable period certain options or any period certain option less than 10 years, the annuity value will be the Surrender Value less any premium tax. For a death benefit annuity, the annuity value will be the amount of the death benefit. The annuity value applied under a variable annuity option is based on the Accumulation Unit value on a Valuation Date not more than four weeks, uniformly applied, before the Annuity Date.

ANNUITY BENEFIT. ANNUITY OPTIONS Annuity options are available Benefit GIAC will make monthly annuity payments to the owner starting on a fixed, variable or combination fixed the Annuity Commencement Date shown on page 3 if: o the annuitant is then living; and variable basiso this contract is in force on that date. The annuity options described below or any alternative option offered by the Company may be chosen. If no option is chosen, monthly benefit payments under a variable life annuity with payments guaranteed for 10 years will be made. The Owner may also elect to have the death benefit applied under a life annuity or a period certain annuity not extending beyond the Beneficiary's life expectancy. Such an election may Annuity Commencement Date cannot be altered by the Beneficiary. Fixed annuity options are funded through the Fixed Account. Variable annuity options may be funded through one or more of the Sub-Accounts. Not all Sub-Accounts may be made available. ANNUITY BENEFIT Annuity benefit payments may be received on a PAYMENTS monthly, quarterly, semiannual or annual basis. If the first payment would be less later than the Minimum annuitant's 90th birthday. On the Annuity Benefit Payment (see Specifications page), a single payment will be made instead. The Company reserves the right to increase the minimum payment amount to not more than $500, subject to applicable state regulations. Satisfactory proof of the payee's date of birth must be received at the Principal Office before annuity benefit payments begin. Where a life annuity option has been electedCommencement Date, the Company may require satisfactory proof that the payee is alive before any payment is made. ANNUITY VALUE The amount of the first monthly annuity benefit payments will be calculated by applying the contract's Accumulation Value, less annuity taxes, if any, under Option V-2 of "Variable Annuity Payout Options" on page 13, unless another option is elected. The payment under all available options except amounts will vary according to the annuitant's age and sex. Under Option V-2, payments are guaranteed for a period certain options will depend on of 10 years. If the age annuitant dies before the end of the payee or payees on guaranteed period, GIAC will pay the Annuity Date and balance of the annuity payments to the beneficiary for the remainder of that period, unless the beneficiary elects to be paid the present value applied. Period certain options are based on of the duration of payments and the annuity value. For life annuity options and non-commutable period certain options with a duration of 10 years or more, the annuity value will be the Accumulated Value and may include any applicable Market Value Adjustment less any premium tax. For commutable period certain options or any period certain option less than 10 years, the annuity value will be the Surrender Value less any premium tax. For a death benefit annuity, the annuity value will be the then current dollar amount of the remaining annuity payments in a lump sum. GIAC will begin making such payment(s) to the beneficiary upon GIAC's receipt at its Customer Service Office of proof of death benefitin Good Order. See "Payment of Contract Proceeds" on page 13 for an explanation of how monthly annuity payments are determined. Change of Annuity Commencement Date or Annuity Payout Option If GIAC consents, the owner may change the Annuity Commencement Date to a date not later than the annuitant's 90th birthday. The owner may also change any elected annuity value applied under a variable annuity payout option is based on the Accumulation Unit value on a Valuation Date not more than four weeks, uniformly applied, before the Annuity Commencement Date. In order to effect either of these changes, GIAC must receive the owner's request in Good Order at its Customer Service Office at least 60 days before the Annuity Commencement Date.

ANNUITY BENEFIT. ANNUITY OPTIONS Annuity options are available Benefit GIAC will make annuity payments to the owner starting on a fixed, variable or combination fixed the Annuity Commencement Date shown on page 3 if: o the annuitant is then living; and variable basiso this contract is in force on that date. The Annuity Commencement Date cannot be later than the annuitant's 90th birthday. On the Annuity Commencement Date, the amount of the first monthly annuity options described below or any alternative option offered payment will be calculated by applying the Company may be chosen. If no option is chosencontract's Accumulation Value, monthly benefit payments less annuity taxes, if any, under a variable life annuity Option V-2 of "Variable Annuity Payout Options" on page 16, with payments guaranteed for 10 years will be madea period of 120 months, unless another option is elected. The Owner may also elect payment amounts will vary according to have the death benefit applied under a life annuity or a period certain annuity not extending beyond the Beneficiaryannuitant's life expectancy. Such an election may not be altered by the Beneficiary. Fixed annuity options are funded through the Fixed Account. Variable annuity options may be funded through one or more of the Sub-Accounts. Not all Sub-Accounts may be made available. ANNUITY BENEFIT Annuity benefit payments may be received on a PAYMENTS monthly, quarterly, semiannual or annual basisage and sex. If the first payment would annuitant dies before the end of the guaranteed period, GIAC will pay the balance of the payments to the beneficiary for the remainder of that period, unless the beneficiary elects to be less than paid the Minimum Annuity Benefit Payment (see Specifications page), present value of the then current dollar amount of the remaining annuity payments in a single payment lump sum. The present value will be made insteadcalculated at an interest rate equal to the interest rate used to compute the annuity payments. The Company reserves GIAC will begin making such payment(s) to the right to increase the minimum payment amount to not more than $500, subject to applicable state regulations. Satisfactory beneficiary upon GIAC's receipt at its Customer Service Office of proof of the payeeannuitant's date death in Good Order. See "Payment of birth must be received at the Principal Office before Contract Proceeds" on page 15 for an explanation of how annuity benefit payments beginare determined. Where a life annuity option has been electedChange of Annuity Commencement Date or Annuity Payout Option If GIAC consents, the Company owner may require satisfactory proof that the payee is alive before any payment is made. ANNUITY VALUE The amount of the first annuity benefit payment under all available options except period certain options will depend on the age of the payee or payees on change the Annuity Commencement Date and to a date not later than the annuity value applied. Period certain options are based on the duration of payments and the annuity value. For life annuity options and non-commutable period certain options with a duration of 10 years or more, the annuity value will be the Accumulated Value and may include any applicable Market Value Adjustment less any premium tax. For commutable period certain options or any period certain option less than 10 years, the annuity value will be the Surrender Value less any premium tax. For a death benefit annuity, the annuity value will be the amount of the death benefitannuitant's 90th birthday. The owner may also change any elected annuity value applied under a variable annuity payout option is based on the Accumulation Unit value on a Valuation Date not more than four weeks, uniformly applied, before the Annuity Commencement Date. In order to effect either of these changes, unless GIAC agrees otherwise, GIAC must receive the owner's request in Good Order at its Customer Service Office at least 60 days before the Annuity Commencement Date.

ANNUITY BENEFIT. ANNUITY OPTIONS Annuity options are available Benefit GIAC will make monthly annuity payments to the owner starting on a fixed, variable or combination fixed the Annuity Commencement Date shown on page 3 if: o the annuitant is then living; and variable basiso this contract is in force on that date. The annuity options described below or any alternative option offered by the Company may be chosen. If no option is chosen, monthly benefit payments under a variable life annuity with payments guaranteed for 10 years will be made. The Owner may also elect to have the death benefit applied under a life annuity or a period certain annuity not extending beyond the Beneficiary's life expectancy. Such an election may Annuity Commencement Date cannot be altered by the Beneficiary. Fixed annuity options are funded through the Fixed Account. Variable annuity options may be funded through one or more of the Sub-Accounts. Not all Sub-Accounts may be made available. ANNUITY BENEFIT Annuity benefit payments may be received on a PAYMENTS monthly, quarterly, semiannual or annual basis. If the first payment would be less later than the Minimum annuitant's 90th birthday. On the Annuity Benefit Payment (see Specifications page), a single payment will be made instead. The Company reserves the right to increase the minimum payment amount to not more than $500, subject to applicable state regulations. Satisfactory proof of the payee's date of birth must be received at the Principal Office before annuity benefit payments begin. Where a life annuity option has been electedCommencement Date, the Company may require satisfactory proof that the payee is alive before any payment is made. ANNUITY VALUE The amount of the first monthly annuity benefit payment will be calculated by applying the contract's Accumulation Value, less any applicable annuity taxes, under all available options except Option V-2 of "Variable Annuity Payout Options" on page 12, unless another option is elected. The payment amounts will vary according to the annuitant's age and sex. Under Option V-2, payments are guaranteed for a period certain options will depend on of 10 years. If the age annuitant dies before the end of the payee or payees on guaranteed period, GIAC will pay the Annuity Date and balance of the annuity payments to the beneficiary for the remainder of that period, unless the beneficiary elects to be paid the present value applied. Period certain options are based on of the duration of payments and the annuity value. For life annuity options and non-commutable period certain options with a duration of 10 years or more, the annuity value will be the Accumulated Value and may include any applicable Market Value Adjustment less any premium tax. For commutable period certain options or any period certain option less than 10 years, the annuity value will be the Surrender Value less any premium tax. For a death benefit annuity, the annuity value will be the then current dollar amount of the remaining annuity payments in a lump sum. GIAC will begin making such payment(s) to the beneficiary upon GIAC's receipt at its Customer Service Office of proof of the annuitant's death benefitin Good Order. See "Payment of Contract Proceeds" on page 12 for an explanation of how monthly annuity payments are determined. ANNUITY BENEFIT - cont'd Change of Annuity Commencement Date or Annuity Payout Option -- If GIAC consents, the owner may change the Annuity Commencement Date to a date not later than the annuitant's 90th birthday. The owner may also change any elected annuity value applied under a variable annuity payout option is based on the Accumulation Unit value on a Valuation Date not more than four weeks, uniformly applied, before the Annuity Commencement Date. In order to effect either of these changes, GIAC must receive the owner's request in Good Order at its Customer Service Office at least 60 days before the Annuity Commencement Date.

ANNUITY BENEFIT. ANNUITY OPTIONS On the Annuity options are available on a fixedCommencement Date, variable or combination fixed and variable basisunless directed otherwise, the Company will apply the Net Surrender Value to purchase monthly income payments payable to the Annuitant according to the Annuity Option the Certificate Owner elects. The Contingent Deferred Sales Charge will not be assessed. The Certificate Owner may not surrender the Certificate after the Annuity Commencement Date. ELECTION OF ANNUITY OPTION The Certificate Owner may elect any one of the annuity options described below or under any alternative option of the settlement options offered by the Company may be chosenat that time. If no option is chosenIn the absence of the Certificate Owner's election, monthly benefit payments under a variable life annuity with payments guaranteed the Net Surrender Value, without deduction for 10 years any Contingent Deferred Sales Charge, will be madeapplied on the Annuity Commencement Date under the Fifth Option to provide a Payment for a Designated Period for 5 years. The Net Surrender Value is determined on the basis of the value of the Fixed Account as of the Annuity Commencement Date, and of the Accumulation Unit Value of each Sub-Account no later than the fifth Business Day preceding the date annuity payments are to commence. DATE OF PAYMENT The first annuity payment under the Annuity Option shall be made one month, (or the period selected for periodic payments: annual, semi-annual, quarterly, or monthly), following the Annuity Commencement Date. Subsequent payments shall be made on the same calendar day of the month as was the first payment, or the preceding day if no such day exists (e.g. September 31), in accordance with the payment period selected. ALLOCATION OF ANNUITY The Certificate Owner may also further elect to have the death benefit Net Surrender Value applied under to a life variable annuity, a fixed dollar annuity or a period certain combination of both. Once every 3 months, following the Annuity Commencement Date, the Certificate Owner may elect, in writing, to transfer among any Sub-Account(s) on which variable annuity not extending beyond the Beneficiary's life expectancypayments are based. Such an election may not be altered by the Beneficiary. Fixed annuity options are funded through the Fixed Account. Variable annuity options No transfers may be funded through one or more of made between the Sub-AccountsAccounts and the General Account after the Annuity Commencement Date. Not all If no election is made to the contrary, the value of each Sub-Accounts may Account shall be made availableapplied to provide a variable annuity based thereon, and the value of the Fixed Account shall be applied to provide a fixed dollar annuity. VARIABLE ANNUITY BENEFIT AND FIXED DOLLAR ANNUITY The value of an Annuity benefit Unit for each Sub-Account of the Separate Account will vary to reflect the investment experience of the applicable Fund. The Annuity Unit Value is determined by multiplying the value of the Annuity Unit for that Sub-Account on the preceding Business Day by the product of (a) the net investment factor for that Sub-Account for the day for which the Annuity Unit value is being calculated, and (b) an interest factor to offset the effect of the asumed interest rate of 5% per year, which is built into the annuity tables. Once variable annuity payments may be received on have begun, the number of Annuity Units remains fixed with respect to a PAYMENTS monthly, quarterly, semiannual or annual basisparticular Sub-Account(s). If the Certificate Owner elects that continuing annuity payments be based on a different Sub-Account(s), the number will change effective with that election but will remain constant following such election. The dollar amount of the second and subsequent variable annuity payments is not predetermined and may increase or decrease from month to month. The actual amount of each variable annuity payment after the first payment would is determined by multiplying the number of Annuity Units by the Annuity Unit Value as described above. The Annuity Unit Value will be less determined no earlier than the Minimum Annuity Benefit Payment (see Specifications page), a single fifth Business Day preceding the date the annuity payment will be made insteadis due. The Company reserves the right to increase the minimum payment amount to not more than $500, subject to applicable state regulations. Satisfactory proof of the payee's date of birth must be received at the Principal Office before annuity benefit payments begin. Where a life annuity option has been elected, the Company may require satisfactory proof guarantees that the payee is alive before any payment is made. ANNUITY VALUE The dollar amount of variable annuity payments will not be adversely affected by variations in the expense results and in the actual mortality experience of payees from the mortality assumptions, including any age adjustment, used in determining the first annuity benefit payment under all available options except period certain options will depend on the age of the payee or payees on the Annuity Date and the annuity value applied. Period certain options are based on the duration of payments and the annuity value. For life annuity options and non-commutable period certain options with a duration of 10 years or more, the annuity value will be the Accumulated Value and may include any applicable Market Value Adjustment less any premium tax. For commutable period certain options or any period certain option less than 10 years, the annuity value will be the Surrender Value less any premium tax. For a death benefit annuity, the annuity value will be the amount of the death benefit. The annuity value applied under a variable annuity option is based on the Accumulation Unit value on a Valuation Date not more than four weeks, uniformly applied, before the Annuity Datemonthly payment.

ANNUITY BENEFIT. ANNUITY OPTIONS Annuity options Options Annuity Options are available on a fixed, variable or combination fixed and variable basis. The annuity options Annuity Options described below or any alternative option offered by the Company may be chosen. If no option is chosen, monthly benefit payments under a variable life annuity with payments guaranteed for 10 years will be made. The Owner may also elect to have made under the death benefit applied under a life annuity or a period certain annuity not extending beyond the Beneficiary's life expectancy. Such an election may not be altered by the BeneficiaryLife Annuity with 10 Years Period Certain option. Fixed annuity options are funded through the Fixed General Account. Variable annuity options may be funded through one or more of the Sub-Accounts. Not all Sub-Accounts may be made available. ANNUITY BENEFIT Selection of Annuity The Owner must select an Annuity Benefit Payment Benefit Payments Option prior to or after the issue date but before the Annuity Date. Annuity benefit payments may will be received on a PAYMENTS monthly, quarterly, semiannual paid monthly or annual basisat any other frequency currently offered by the Company. If the first payment would be less than the Minimum Annuity Benefit Payment (see Specifications page), a single payment will be made instead. The Company reserves the right to increase the minimum payment amount to not more than $500If a life annuity option has been elected, subject to applicable state regulations. Satisfactory satisfactory proof of the payee's date of birth of the Annuitant must be received at the Principal Office before annuity benefit payments beginany payment is made. Where Also, if a life annuity option has been elected, from time to time, the Company may require satisfactory proof that the payee Annuitant is alive alive. The annuity benefit payments provided under this contract are not less than those required by the State. Selection or Change The Owner must select an Annuity Date when Of Annuity Date selecting an Annuity Benefit Payment Option. Prior to such Annuity Date, the Owner may change the Annuity Date by Request. The Request must be received at the Principal Office at least one month before the new Annuity Date. To the extent permitted by applicable laws, rules and regulations governing variable annuities, the new Annuity Date must be no later than the Maximum Alternative Annuity Date shown on the Specifications page, which can be no later than the later of the oldest Owner's age ninety or ten years after the Issue Date. Annuity Benefit Payment In the case of a variable annuity option, the Change Frequency Owner must select an Annuity Benefit Payment Change Frequency. This is the frequency of change in the dollar value of the variable annuity benefit payments. For example, if an annual Annuity Benefit Payment Change Frequency is chosen, the dollar value of variable annuity benefit payments will remain constant within each one-year period. The Owner must also select the date of the first change. Assumed Investment In the case of a variable annuity option, the Return Owner must select an Assumed Investment Return ("AIR") from the options currently made available by the Company. This rate is used to determine the initial variable annuity benefit payment and how the payment will change over time in response to the performance of the selected Sub-Accounts. If the actual performance of any selected Sub-Account (as measured by the Net Investment Factor) is equal to the AIR, the annuity benefit payment attributable to that Sub-Account will be constant. If the actual performance is madegreater than the AIR, the annuity benefit payment will increase. ANNUITY VALUE If the actual performance is less than the AIR, the annuity benefit payment will decrease. Annuity Value The Annuity Value will be the Accumulated Value, after application of any Market Value Adjustment, less any applicable premium tax. The Annuity Value applied under a variable Annuity Option is based on the Accumulation Unit Value on a Valuation Date not more than four weeks, uniformly applied, before the Annuity Date. The amount of the first annuity benefit payment under all available options except period certain options will depend on the age and/or sex of the payee or payees Annuitant on the Annuity Date and the annuity value Annuity Value applied. Period certain options are based only on the duration of payments and the annuity value. For life annuity options and non-commutable period certain options with a duration of 10 years or more, the annuity value will be the Accumulated Value and may include any applicable Market Value Adjustment less any premium tax. For commutable period certain options or any period certain option less than 10 years, the annuity value will be the Surrender Value less any premium tax. For a death benefit annuity, the annuity value will be the amount of the death benefitAnnuity Value. The annuity value applied benefit payments under the contract will be equal to or greater than the annuity benefit payments under a single premium immediate variable annuity option issued by the Company where the initial payment is based on equal to the Accumulation Unit value on a Valuation Date not more than four weeks, uniformly applied, before the Annuity Date.greater of: