Common use of ANNUITY BENEFITS Clause in Contracts

ANNUITY BENEFITS. On the Annuity Date, your Contract Value will convert into the Annuity Option(s) you have chosen. We will send the first annuity payment under this Contract on the day following the Annuity Date. Choice of Annuity Date -- Your Annuity Date is shown in the Contract Specifications. If you did not select an Annuity Date in your application for this Contract, we assigned an Annuity Date based on the type of this Contract and the Annuitant's age. See Default Annuity Date and Options. You may change your Annuity Date by notifying us in writing at least 10 Business Days prior to your current Annuity Date or new Annuity Date, whichever is earlier. Your Annuity Date may not be earlier than your first Contract Anniversary, and must occur on or before the day your younger Annuitant reaches his or her 100th birthday. If your Contract is a Qualified Contract, your Annuity Date cannot be earlier than your first Contract Anniversary, and must occur on or before April 15 of the calendar year following the year in which your Annuitant (who is the Qualified Plan participant) reaches his or her 70 1/2th birthday. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect your Annuity Date. Application of Contract Value -- Prior to the Annuity Date, you may elect to convert all or part of your Contract Value less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, to an Annuity Option we then offer on the Annuity Date. You may also elect a full withdrawal in lieu of annuity payments under an Annuity Option. Before we make any full withdrawal, we require return of this Contract, (or a signed lost Contract affidavit), to us. The aggregate net amount you apply must be at least $5,000; otherwise, we will pay a single amount equal to your withdrawal proceeds. See WITHDRAWALS. If you convert only a portion of your Contract Value on your Annuity Date, you may, at that time, have the option to elect to continue your Contract with that remaining Contract Value. If this option is available, you would choose a second Annuity Date for such Contract Value; all references in this Contract to your Annuity Start Date (or Annuity Date) would, with regard to such Contract Value, be deemed to refer to that second Annuity Date. This option may or may not be available, or may be available only for certain types of Contracts. You should call PM for more information if you desire this option. Your Selections -- Prior to the Annuity Date, you may make three selections about the annuity payments. First, you may choose whether you want those payments to be a fixed-dollar amount or a variable-dollar amount, or both. Second, you may choose the form of annuity payments (Annuity Option). Third, you may choose to have annuity payments made monthly, quarterly, semi-annually, or annually. The first annuity payment on any Annuity Date must be at least $250. We will reduce your payment frequency if the first annuity payment is less than $250. If you elect annuity payments for a Period Certain Only, we reserve the right to also reduce the Period Certain to meet the $250 minimum first payment. After the Annuity Date, you may not change the Annuity Option, or surrender the Contract for payment of amounts converted into a variable annuity and or fixed annuity. Fixed and Variable Annuities -- You may choose a fixed annuity (with fixed- dollar payments), a variable annuity (with variable-dollar payments), or you may choose both. You may convert one portion of your Contract Value, less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, into a fixed annuity and another portion into a variable annuity. If you select a variable annuity, you may choose any Subaccounts for your annuity. On your Annuity Date, we will transfer that portion of your Contract Value, less Contract Debt, you indicate to the Subaccount(s) you choose, if you select a variable annuity. We will transfer the portion of your Contract Value, less Contract Debt, you indicate, to the Fixed Option, if you choose a fixed annuity. We will apply the net amount you convert to a fixed annuity and or a variable annuity, (and in this instance, to each Subaccount), based on your relative Account Value in each Investment Option on the Annuity Date. Any net amount you convert to a fixed annuity will be held in our General Account (but not under the Fixed Option). Each periodic payment for the fixed annuity will be equal to the amount of your first fixed annuity payment (unless you elect a joint and survivor life annuity with reduced survivor payments). The amount of each variable annuity periodic payment will vary with the investment results of the Subaccount(s) you select. After the Annuity Date, the Annuitant may exchange the Annuity Units in any Subaccount(s) for Annuity Units in any other Subaccount(s) up to four times in any twelve month period. We reserve the right to limit the Subaccounts available, to change the number and frequency of exchanges, and to change the number of Subaccounts you may choose. In choosing an Annuity Option, you must submit your Option request to us in writing on a form provided by us or in another form satisfactory to us. Annuity Options -- The following forms of annuity payments are available under this Contract, although additional options may become available in the future:

ANNUITY BENEFITS. On the Annuity Date, your Contract Value will convert into the Annuity Option(s) you have chosen. We will send the first annuity payment under this Contract on the day following the Annuity Date. Choice of Annuity Date -- Your Annuity Date is shown in the Contract Specifications. If you did not select an Annuity Date in your application for this Contract, we assigned an Annuity Date based on the type of this Contract and the Annuitant's age. See Default Annuity Date and Options. You may change your Annuity Date by notifying us in writing at least 10 Business Days prior to your current Annuity Date or new Annuity Date, whichever is earlier. Your Annuity Date may not be earlier than your first Contract Anniversary, and must occur on or before the day your younger Annuitant reaches his or her 100th birthday. If your Contract is a Qualified Contract, your Annuity Date cannot be earlier than your first Contract Anniversary, and must occur on or before April 15 of the calendar year following the year in which your Annuitant (who is the Qualified Plan participant) reaches his or her 70 1/2th birthday. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect your Annuity Date. Application of Contract Value -- Prior to the Annuity Maturity Date, you may elect to convert all or part any one of your Contract Value less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, to an Annuity Option we then offer on the Annuity DatePayment Options as described in Section 18. You may also elect If no election is made, we will begin to pay a full withdrawal in lieu series of annuity payments under an Annuity Optionto the Owner beginning on the Contract Maturity Date for a period certain of 10 years and as long thereafter as the Annuitant (or Joint Annuitant, if one is named) is alive. Before we make The amount of each annuity payment will be equal to the Contract Value as described in Section 2, less any full withdrawalapplicable tax, divided by $1,000 and then multiplied by the applicable annuity payment option rates in effect on the Contract Maturity Date. If the amount to be applied on the Contract Maturity Date would result in monthly payments of less than $20, we require return of this Contract, (or a signed lost Contract affidavit), may pay such amount to usyou in one lump sum. The aggregate net amount you apply must be at least $5,000; otherwise, we will pay a single amount equal to your withdrawal proceeds. See WITHDRAWALS. If you convert only a portion of your Contract Value on your Annuity Date, you may, at that time, We also have the option right to elect to continue your Contract with that remaining Contract Value. If this option is available, you would choose a second Annuity Date for such Contract Value; all references in this Contract to your Annuity Start Date (or Annuity Date) would, with regard to such Contract Value, be deemed to refer to that second Annuity Date. This option may or may not be available, or may be available only for certain types of Contracts. You should call PM for more information if you desire this option. Your Selections -- Prior to the Annuity Date, you may make three selections about change the annuity payments. First, you may choose whether you want those payments to be a fixed-dollar amount or a variable-dollar amount, or both. Second, you may choose the form of annuity payments (Annuity Option). Third, you may choose to have annuity payments made monthly, quarterly, semi-annually, or annually. The first annuity payment on any Annuity Date must be at least $250. We will reduce your payment frequency to annual if the first monthly annuity payment is less than $25020. If you elect annuity payments for a Period Certain Only, we reserve the right to also reduce the Period Certain to meet the $250 minimum first payment. After the Annuity Date, you contract may not change the be avaiSlaEbCleTiInONyo1u9r:sAtaNteN.UITY PAYMENT OPTIONS Election of an Annuity Option, or surrender the Contract for payment of amounts converted into a variable annuity and or fixed annuity. Fixed and Variable Annuities -- You may choose a fixed annuity (with fixed- dollar payments), a variable annuity (with variable-dollar payments), or you may choose both. You may convert one portion of your Contract Value, less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, into a fixed annuity and another portion into a variable annuity. If you select a variable annuity, you may choose any Subaccounts for your annuity. On your Annuity Date, we will transfer that portion of your Contract Value, less Contract Debt, you indicate to the Subaccount(s) you choose, if you select a variable annuity. We will transfer the portion of your Contract Value, less Contract Debt, you indicate, to the Fixed Option, if you choose a fixed annuity. We will apply the net amount you convert to a fixed annuity and or a variable annuity, (and in this instance, to each Subaccount), based on your relative Account Value in each Investment Payment Option on the Annuity Date. Any net amount you convert to a fixed annuity will must be held in our General Account (but not under the Fixed Option). Each periodic payment for the fixed annuity will be equal to the amount of your first fixed annuity payment (unless you elect a joint and survivor life annuity with reduced survivor payments). The amount of each variable annuity periodic payment will vary with the investment results of the Subaccount(s) you select. After the Annuity Date, the Annuitant may exchange the Annuity Units in any Subaccount(s) for Annuity Units in any other Subaccount(s) up to four times in any twelve month periodmade by written request. We reserve the right to limit require that the Subaccounts availableelection of an Annuity Payment Option be in the form of a supplementary contract distributed by us reflecting the terms of the Annuity Payment Option elected. We have the right to require proof of Age and sex of any person on whose life payments depend, to the extent permitted by the jurisdiction in which the contract is issued, as well as proof of the continued survival of any such person. You may not change the number and frequency of exchanges, and Annuity Payment Option you elected after the first annuity payment is made. When a Beneficiary elects to change apply the number of Subaccounts you may choose. In choosing death benefit under an available Annuity Payment Option, you must submit your Option request the term “Annuitant” as used in the description of the Annuity Payment Options is a reference to us in writing on a form the Beneficiary. The annuity benefits at the time of their commencement will not be less than those that would be provided by the application of the Cash Surrender Value to purchase a single premium immediate annuity contract at purchase rates offered by us or in another form satisfactory at the time to us. Annuity Options -- The following forms the same class of annuity payments are available under this Contract, although additional options may become available in the future:annuitants.

ANNUITY BENEFITS. On the Annuity Date, your Contract Value will convert into the Annuity Option(s) you have chosen. We will send the first annuity payment under this Contract on the day following the Annuity Date. Choice of Annuity Date CHOICE OF ANNUITY DATE -- Your Annuity Date is shown in the Contract Specifications. If you did not select an Annuity Date in your application for this Contract, we assigned an Annuity Date based on the type of this Contract and the Annuitant's age. See Default Annuity Date and OptionsAge (see DEFAULT ANNUITY DATE AND OPTIONS). You may change your Annuity Date by notifying providing proper notice to us in writing at least 10 ten (10) Business Days prior to your current Annuity Date or new Annuity Date, whichever is earlier. Your Annuity Date may not be earlier than your first Contract Anniversary, Anniversary and must occur on or before the day your the younger Annuitant ▇▇▇▇▇▇▇▇▇ reaches his or her 100th 95th birthday. If your Contract is a Qualified Contract, your Annuity Date cannot be or earlier than your first Contract Anniversary, and must occur on as required by state law or before April 15 of the calendar year following the year in which your Annuitant (who is the Qualified Plan participant) reaches his or her 70 1/2th birthdayCode. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect your Annuity Date. Application of Contract Value APPLICATION OF CONTRACT VALUE -- Prior to the Annuity Date, you may elect to convert all or part of your Net Contract Value less any Contract Debt, any transfer feeValue, and any charges charge for premium taxes and or and/or other taxes, to an any currently offered Annuity Option we then offer on the Annuity DateOption. You may also elect a full withdrawal (subject to the terms of the withdrawal provisions) in lieu of annuity payments under an Annuity Option. Before we make any full withdrawal, we require return of this Contract, Contract (or a signed lost Lost Contract affidavit), Affidavit) to us. The aggregate net amount you apply convert must be at least $5,00010,000; otherwise, we will reserve the right to pay a single amount equal to your withdrawal proceeds. See proceeds (see AMOUNT AVAILABLE FOR WITHDRAWALS). If you convert only a portion of your Net Contract Value on your Annuity Date, you may, at that time, elect not to have the option to elect remainder of your Net Contract Value distributed, but instead to continue your Contract with that remaining Contract Value. This option may or may not be available, or may be available only for certain types of Contracts. If this option is availableavailable and you elect it, you would choose a second Annuity Date for such Contract Value; all references in this Contract to your Annuity Start Date (or Annuity Date) would, with regard to such Contract Value, be deemed to refer to that second Annuity Date. This option may or may not be available, or may be available only for certain types of Contracts. You should call PM your tax adviser for more information if you desire this option. Your Selections YOUR SELECTIONS -- Prior to the Annuity Date, you may make three selections about the annuity payments. First, you may choose whether you want those payments to be a fixed-dollar amount or a variable-dollar amount, or both. Second, you may choose the form of annuity payments (Annuity Option). Third, you may choose to have annuity payments made monthly, quarterly, semi-annuallysemiannually, or annually. The first annuity payment on any the Annuity Date will be sent on the day following the Annuity Date and must be at least $250. We will may reduce your payment frequency if the first annuity payment is less than $250. If you elect annuity payments for a Period Certain Only, we also reserve the right to also reduce the Period Certain to meet the $250 minimum first payment. After the Annuity Date, you may not change the Annuity Option, or surrender the Contract for payment of amounts converted into a variable annuity and or and/or fixed annuity. Fixed and Variable Annuities -- You may choose a fixed annuity (with fixed- dollar payments), a variable annuity (with variable-dollar payments), or you may choose both. You may convert one portion of your Contract Value, less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, into a fixed annuity and another portion into a variable annuity. If you select a variable annuity, you may choose any Subaccounts for your annuity. On your Annuity Date, we will transfer that portion of your Contract Value, less Contract Debt, you indicate to the Subaccount(s) you choose, if you select a variable annuity. We will transfer the portion of your Contract Value, less Contract Debt, you indicate, to the Fixed Option, if you choose a fixed annuity. We will apply the net amount you convert to a fixed annuity and or a variable annuity, (and in this instance, to each Subaccount), based on your relative Account Value in each Investment Option on the Annuity Date. Any net amount you convert to a fixed annuity will be held in our General Account (but not under the Fixed Option). Each periodic payment for the fixed annuity will be equal to the amount of your first fixed annuity payment (unless you elect a joint and survivor life annuity with reduced survivor payments). The amount of each variable annuity periodic payment will vary with the investment results of the Subaccount(s) you select. After the Annuity Date, the Annuitant may exchange the Annuity Units in any Subaccount(s) for Annuity Units in any other Subaccount(s) up to four times in any twelve month period. We reserve the right to limit the Subaccounts available, to change the number and frequency of exchanges, and to change the number of Subaccounts you may choose. In choosing an Annuity Option, you must submit your Option request to us in writing on a form provided by us or in another form satisfactory to us. Annuity Options -- The following forms of annuity payments are available under this Contract, although additional options may become available in the future:.

ANNUITY BENEFITS. On the Annuity Date, your Contract Value will convert into the Annuity Option(s) you have chosen. We will send the first annuity payment under this Contract on the day following the Annuity Date. Choice of Annuity Date -- Your Annuity Date is shown in the Contract Specifications. If you did not select an Annuity Date in your application for this Contract, we assigned an Annuity Date based on the type of this Contract and the Annuitant's age. See Default Annuity Date and Options. You may change your Annuity Date by notifying us in writing at least 10 Business Days prior to your current Annuity Date or new Annuity Date, whichever is earlier. Your Annuity Date may not be earlier than your first Contract Anniversary, and must occur on or before the day your younger Annuitant reaches his or her 100th birthday. If your Contract is a Qualified Contract, your Annuity Date cannot be earlier than your first Contract Anniversary, and must occur on or before April 15 of the calendar year following the year in which your Annuitant (who is the Qualified Plan participant) reaches his or her 70 1/2th birthday. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect your Annuity Date. Application of Contract Value -- Prior to the Annuity Maturity Date, you may elect to convert all or part any one of your Contract Value less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, to an Annuity Option we then offer on the Annuity DatePayment Options as described in Section 18. You may also elect If no election is made, we will begin to pay a full withdrawal in lieu series of annuity payments under an Annuity Optionto the Owner beginning on the Contract Maturity Date for a period certain of 10 years and as long thereafter as the Annuitant (or Joint Annuitant, if one is named) is alive. Before we make The amount of each annuity payment will be equal to the Contract Value as described in Section 2, less any full withdrawalapplicable tax, divided by $1,000 and then multiplied by the applicable annuity payment option rates in effect on the Contract Maturity Date. If the amount to be applied on the Contract Maturity Date would result in monthly payments of less than $20, we require return of this Contract, (or a signed lost Contract affidavit), may pay such amount to usyou in one lump sum. The aggregate net amount you apply must be at least $5,000; otherwise, we will pay a single amount equal to your withdrawal proceeds. See WITHDRAWALS. If you convert only a portion of your Contract Value on your Annuity Date, you may, at that time, We also have the option right to elect to continue your Contract with that remaining Contract Value. If this option is available, you would choose a second Annuity Date for such Contract Value; all references in this Contract to your Annuity Start Date (or Annuity Date) would, with regard to such Contract Value, be deemed to refer to that second Annuity Date. This option may or may not be available, or may be available only for certain types of Contracts. You should call PM for more information if you desire this option. Your Selections -- Prior to the Annuity Date, you may make three selections about change the annuity payments. First, you may choose whether you want those payments to be a fixed-dollar amount or a variable-dollar amount, or both. Second, you may choose the form of annuity payments (Annuity Option). Third, you may choose to have annuity payments made monthly, quarterly, semi-annually, or annually. The first annuity payment on any Annuity Date must be at least $250. We will reduce your payment frequency to annual if the first monthly annuity payment is less than $25020. If you elect annuity payments for a Period Certain Only, we reserve the right to also reduce the Period Certain to meet the $250 minimum first payment. After the Annuity Date, you contract may not change the be avaiSlaEbCleTiInONyo1u9r:sAtaNteN.UITY PAYMENT OPTIONS Election of an Annuity Option, or surrender the Contract for payment of amounts converted into a variable annuity and or fixed annuity. Fixed and Variable Annuities -- You may choose a fixed annuity (with fixed- dollar payments), a variable annuity (with variable-dollar payments), or you may choose both. You may convert one portion of your Contract Value, less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, into a fixed annuity and another portion into a variable annuity. If you select a variable annuity, you may choose any Subaccounts for your annuity. On your Annuity Date, we will transfer that portion of your Contract Value, less Contract Debt, you indicate to the Subaccount(s) you choose, if you select a variable annuity. We will transfer the portion of your Contract Value, less Contract Debt, you indicate, to the Fixed Option, if you choose a fixed annuity. We will apply the net amount you convert to a fixed annuity and or a variable annuity, (and in this instance, to each Subaccount), based on your relative Account Value in each Investment Payment Option on the Annuity Date. Any net amount you convert to a fixed annuity will must be held in our General Account (but not under the Fixed Option). Each periodic payment for the fixed annuity will be equal to the amount of your first fixed annuity payment (unless you elect a joint and survivor life annuity with reduced survivor payments). The amount of each variable annuity periodic payment will vary with the investment results of the Subaccount(s) you select. After the Annuity Date, the Annuitant may exchange the Annuity Units in any Subaccount(s) for Annuity Units in any other Subaccount(s) up to four times in any twelve month periodmade by written request. We reserve the right to limit require that the Subaccounts availableelection of an Annuity Payment Option be in the form of a supplementary contract distributed by us reflecting the terms of the Annuity Payment Option elected. We have the right to require proof of Age and sex of any person on whose life payments depend, to the extent permitted by the jurisdiction in which this contract is issued, as well as proof of the continued survival of any such person. You may not change the number and frequency of exchanges, and Annuity Payment Option you elected after the first annuity payment is made. When a Beneficiary elects to change apply the number of Subaccounts you may choose. In choosing death benefit under an available Annuity Payment Option, you must submit your Option request the term “Annuitant” as used in the description of the Annuity Payment Options is a reference to us in writing on a form the Beneficiary. The annuity benefits at the time of their commencement will not be less than those that would be provided by the application of the Cash Surrender Value to purchase a single premium immediate annuity contract at purchase rates offered by us or in another form satisfactory at the time to us. Annuity Options -- The following forms the same class of annuity payments are available under this Contract, although additional options may become available in the future:annuitants.

ANNUITY BENEFITS. On the Annuity Date, your Contract Value will convert into the Annuity Option(s) you have chosen. We will send the first annuity payment under this Contract on the day following the Annuity Date. Choice of Annuity Date -- CHOICE OF ANNUITY DATE - Your Annuity Date is shown in the Contract Specifications. If you did not select an Annuity Date in your application for this Contract, we assigned an Annuity Date based on the type of this Contract and the Annuitant's age. See Default Annuity Date and OptionsAge (see DEFAULT ANNUITY DATE AND OPTIONS). You may change your Annuity Date by notifying providing proper notice to us in writing at least 10 ten (10) Business Days prior to your current Annuity Date or new Annuity Date, whichever is earlier. Your Annuity Date may not be earlier than your first Contract Anniversary, Anniversary and must occur on or before the day your the younger Annuitant ▇▇▇▇▇▇▇▇▇ reaches his or her 100th 95th birthday. If your Contract is a Qualified Contract, your Annuity Date cannot be or earlier than your first Contract Anniversary, and must occur on as required by state law or before April 15 of the calendar year following the year in which your Annuitant (who is the Qualified Plan participant) reaches his or her 70 1/2th birthdayCode. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect your Annuity Date. Application of Contract Value -- APPLICATION OF CONTRACT VALUE - Prior to the Annuity Date, you may elect to convert all or part of your Net Contract Value Value, less any Contract Debt, any transfer fee, and any charges charge for premium taxes and or and/or other taxes, to an any currently offered Annuity Option we then offer on the Annuity DateOption. You may also elect a full withdrawal (subject to the terms of the withdrawal provisions) in lieu of annuity payments under an Annuity Option. Before we make any full withdrawal, we require return of this Contract, Contract (or a signed lost Lost Contract affidavit), Affidavit) to us. The aggregate net amount you apply convert must be at least $5,00010,000; otherwise, we will reserve the right to pay a single amount equal to your withdrawal proceeds. See proceeds (see AMOUNT AVAILABLE FOR WITHDRAWALS). If you convert only a portion of your Net Contract Value on your Annuity Date, you may, at that time, elect not to have the option to elect remainder of your Net Contract Value distributed, but instead to continue your Contract with that remaining Contract Value. This option may or may not be available, or may be available only for certain types of Contracts. If this option is availableavailable and you elect it, you would choose a second Annuity Date for such Contract Value; all references in this Contract to your Annuity Start Date (or Annuity Date) would, with regard to such Contract Value, be deemed to refer to that second Annuity Date. This option may or may not be available, or may be available only for certain types of Contracts. You should call PM your tax adviser for more information if you desire this option. Your Selections -- YOUR SELECTIONS - Prior to the Annuity Date, you may make three selections about the annuity payments. First, you may choose whether you want those payments to be a fixed-dollar amount or a variable-dollar amount, or both. Second, you may choose the form of annuity payments (Annuity Option). Third, you may choose to have annuity payments made monthly, quarterly, semi-annuallysemiannually, or annually. The first annuity payment on any the Annuity Date will be sent on the day following the Annuity Date and must be at least $250. We will may reduce your payment frequency if the first annuity payment is less than $250. If you elect annuity payments for a Period Certain OnlyOnly (see ANNUITY OPTIONS), we also reserve the right to also reduce the Period Certain to meet the $250 minimum first payment. After the Annuity Date, you may not change the Annuity Option, or surrender the Contract for payment of amounts converted into a variable annuity and or and/or fixed annuity. Fixed and Variable Annuities -- You may choose a fixed annuity (with fixed- dollar payments), a variable annuity (with variable-dollar payments), or you may choose both. You may convert one portion of your Contract Value, less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, into a fixed annuity and another portion into a variable annuity. If you select a variable annuity, you may choose any Subaccounts for your annuity. On your Annuity Date, we will transfer that portion of your Contract Value, less Contract Debt, you indicate to the Subaccount(s) you choose, if you select a variable annuity. We will transfer the portion of your Contract Value, less Contract Debt, you indicate, to the Fixed Option, if you choose a fixed annuity. We will apply the net amount you convert to a fixed annuity and or a variable annuity, (and in this instance, to each Subaccount), based on your relative Account Value in each Investment Option on the Annuity Date. Any net amount you convert to a fixed annuity will be held in our General Account (but not under the Fixed Option). Each periodic payment for the fixed annuity will be equal to the amount of your first fixed annuity payment (unless you elect a joint and survivor life annuity with reduced survivor payments). The amount of each variable annuity periodic payment will vary with the investment results of the Subaccount(s) you select. After the Annuity Date, the Annuitant may exchange the Annuity Units in any Subaccount(s) for Annuity Units in any other Subaccount(s) up to four times in any twelve month period. We reserve the right to limit the Subaccounts available, to change the number and frequency of exchanges, and to change the number of Subaccounts you may choose. In choosing an Annuity Option, you must submit your Option request to us in writing on a form provided by us or in another form satisfactory to us. Annuity Options -- The following forms of annuity payments are available under this Contract, although additional options may become available in the future:.

ANNUITY BENEFITS. On the Annuity Date, your Contract Value will convert into the Annuity Option(s) you have chosen. We will send the first annuity payment under this Contract on the day following the Annuity Date. Choice of Annuity Date -- - Your Annuity Date is shown in the Contract Specifications. If you did not select an Annuity Date in your application for this Contract, we assigned an Annuity Date based on the type of this Contract and the Annuitant's age. See Default Annuity Date and Options. You may change your Annuity Date by notifying us in writing at least 10 Business Days prior to your current Annuity Date or new Annuity Date, whichever is earlier. Your Annuity Date may not be earlier than your first Contract Anniversary, and must occur on or before the day your younger Annuitant ▇▇▇▇▇▇▇▇▇ reaches his or her 100th birthday. If your Contract is a Qualified Contract, your Annuity Date cannot be earlier than your first Contract Anniversary, and must occur on or before April 15 of the calendar year following the year in which your Annuitant (who is the Qualified Plan participant) reaches his or her 70 1/2th birthday. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect your Annuity Date. Application of Contract Value -- - Prior to the Annuity Date, you may elect to convert all or part of your Contract Value Value, less any Contract Debt, any transfer fee, and any charges for premium taxes and or and/or other taxes, to an Annuity Option we then offer on the Annuity Date. You may also elect a full withdrawal in lieu of annuity payments under an Annuity Option. Before we make any full withdrawal, we require return of this Contract, (or a signed lost Contract affidavit), to us. The aggregate net amount you apply must be at least $5,000; otherwise, we will pay a single amount equal to your withdrawal proceeds. See WITHDRAWALS. If you convert only a portion of your Contract Value on your Annuity Date, you may, at that time, have the option to elect not to have the remainder of your Contract Value distributed, but instead to continue your Contract with that remaining Contract Value. If this option is availableavailable and you elect it, you would choose a second Annuity Date for such Contract Value; all references in this Contract to your Annuity Start Date (or Annuity Date) would, with regard to such Contract Value, be deemed to refer to that second Annuity Date. This option may or may not be available, or may be available only for certain types of Contracts. You should call PM your tax advisor for more information if you desire this option. Your Selections -- - Prior to the Annuity Date, you may make three selections about the annuity payments. First, you may choose whether you want those payments to be a fixed-dollar amount or a variable-dollar amount, or both. Second, you may choose the form of annuity payments (Annuity Option). Third, you may choose to have annuity payments made monthly, quarterly, semi-annually, or annually. The first annuity payment on any the Annuity Date must be at least $250. We will reduce your payment frequency if the first annuity payment is less than $250. If you elect annuity payments for a Period Certain Only, we reserve the right to also reduce the Period Certain to meet the $250 minimum first payment. After the Annuity Date, you may not change the Annuity Option, or surrender the Contract for payment of amounts converted into a variable annuity and or and/or fixed annuity. Fixed and Variable Annuities -- - You may choose a fixed annuity (with fixed- fixed-dollar payments), a variable annuity (with variable-dollar payments), or you may choose both. You may convert one portion of your Contract Value, less any Contract Debt, any transfer fee, and any charges for premium taxes and or and/or other taxes, into a fixed annuity and another portion into a variable annuity. If you select a variable annuity, you may choose any Subaccounts for your annuity. On your Annuity Date, we will transfer that portion of your Contract Value, less Contract Debt, you indicate to the Subaccount(s) you choose, if you select a variable annuity. We will transfer the portion of your Contract Value, less Contract Debt, you indicate, to the Fixed Option, if you choose a fixed annuity. We will apply the net amount you convert to a fixed annuity and or and/or a variable annuity, (and in this instance, to each Subaccount), based on your relative Account Value in each Investment Option on the Annuity Date. Any net amount you convert to a fixed annuity will be held in our General Account Account, (but not under the Fixed Option). Each periodic payment for the fixed annuity will be equal to the amount of your first fixed annuity payment (unless you elect a joint and survivor life annuity with reduced survivor payments). The amount of each variable annuity periodic payment will vary with the investment results of the Subaccount(s) you select. After the Annuity Date, the Annuitant may exchange the Annuity Units in any Subaccount(s) for Annuity Units in any other Subaccount(s) up to four times in any twelve month period. We reserve the right to limit the Subaccounts available, to change the number and frequency of exchanges, and to change the number of Subaccounts you may choose. In choosing an Annuity Option, you must submit your Option request to us in writing on a form provided by us or in another form satisfactory to us. Annuity Options -- - The following forms of annuity payments are available under this Contract, although additional options may become available in the future:

ANNUITY BENEFITS. On the Annuity Date, your Contract Value will convert into the Annuity Option(s) you have chosen. We will send the first annuity payment under this Contract on the day following the Annuity Date. Choice of Annuity Date -- CHOICE OF ANNUITY DATE - Your Annuity Date is shown in the Contract Specifications. If you did not select an Annuity Date in your application for this Contract, we assigned an Annuity Date based on the type of this Contract and the Annuitant's age. See Default Annuity Date and OptionsAge (see DEFAULT ANNUITY DATE AND OPTIONS). You may change your Annuity Date by notifying providing proper notice to us in writing at least 10 ten (10) Business Days prior to your current Annuity Date or new Annuity Date, whichever is earlier. Your Annuity Date may not be earlier than your first Contract Anniversary, Anniversary and must occur on or before the day your the younger Annuitant ▇▇▇▇▇▇▇▇▇ reaches his or her 100th 95/th/ birthday. If your Contract is a Qualified Contract, your Annuity Date cannot be or earlier than your first Contract Anniversary, and must occur on as required by state law or before April 15 of the calendar year following the year in which your Annuitant (who is the Qualified Plan participant) reaches his or her 70 1/2th birthdayCode. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect your Annuity Date. Application of Contract Value -- APPLICATION OF CONTRACT VALUE - Prior to the Annuity Date, you may elect to convert all or part of your Net Contract Value less any Contract Debt, any transfer feeValue, and any charges charge for premium taxes and or and/or other taxes, to an any currently offered Annuity Option we then offer on the Annuity DateOption. You may also elect a full withdrawal (subject to the terms of the withdrawal provisions) in lieu of annuity payments under an Annuity Option. Before we make any full withdrawal, we require return of this Contract, Contract (or a signed lost Lost Contract affidavit), Affidavit) to us. The aggregate net amount you apply convert must be at least $5,00010,000; otherwise, we will reserve the right to pay a single amount equal to your withdrawal proceeds. See proceeds (see AMOUNT AVAILABLE FOR WITHDRAWALS). If you convert only a portion of your Net Contract Value on your Annuity Date, you may, at that time, elect not to have the option to elect remainder of your Net Contract Value distributed, but instead to continue your Contract with that remaining Contract Value. This option may or may not be available, or may be available only for certain types of Contracts. If this option is availableavailable and you elect it, you would choose a second Annuity Date for such Contract Value; all references in this Contract to your Annuity Start Date (or Annuity Date) would, with regard to such Contract Value, be deemed to refer to that second Annuity Date. This option may or may not be available, or may be available only for certain types of Contracts. You should call PM your tax adviser for more information if you desire this option. Your Selections -- YOUR SELECTIONS - Prior to the Annuity Date, you may make three selections about the annuity payments. First, you may choose whether you want those payments to be a fixed-dollar amount or a variable-dollar amount, or both. Second, you may choose the form of annuity payments (Annuity Option). Third, you may choose to have annuity payments made monthly, quarterly, semi-annuallysemiannually, or annually. The first annuity payment on any the Annuity Date will be sent on the day following the Annuity Date and must be at least $250. We will may reduce your payment frequency if the first annuity payment is less than $250. If you elect annuity payments for a Period Certain Only, we also reserve the right to also reduce the Period Certain to meet the $250 minimum first payment. After the Annuity Date, you may not change the Annuity Option, or surrender the Contract for payment of amounts converted into a variable annuity and or and/or fixed annuity. Fixed and Variable Annuities -- You may choose a fixed annuity (with fixed- dollar payments), a variable annuity (with variable-dollar payments), or you may choose both. You may convert one portion of your Contract Value, less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, into a fixed annuity and another portion into a variable annuity. If you select a variable annuity, you may choose any Subaccounts for your annuity. On your Annuity Date, we will transfer that portion of your Contract Value, less Contract Debt, you indicate to the Subaccount(s) you choose, if you select a variable annuity. We will transfer the portion of your Contract Value, less Contract Debt, you indicate, to the Fixed Option, if you choose a fixed annuity. We will apply the net amount you convert to a fixed annuity and or a variable annuity, (and in this instance, to each Subaccount), based on your relative Account Value in each Investment Option on the Annuity Date. Any net amount you convert to a fixed annuity will be held in our General Account (but not under the Fixed Option). Each periodic payment for the fixed annuity will be equal to the amount of your first fixed annuity payment (unless you elect a joint and survivor life annuity with reduced survivor payments). The amount of each variable annuity periodic payment will vary with the investment results of the Subaccount(s) you select. After the Annuity Date, the Annuitant may exchange the Annuity Units in any Subaccount(s) for Annuity Units in any other Subaccount(s) up to four times in any twelve month period. We reserve the right to limit the Subaccounts available, to change the number and frequency of exchanges, and to change the number of Subaccounts you may choose. In choosing an Annuity Option, you must submit your Option request to us in writing on a form provided by us or in another form satisfactory to us. Annuity Options -- The following forms of annuity payments are available under this Contract, although additional options may become available in the future:.

ANNUITY BENEFITS. On the Annuity Date, your Contract Value will convert into the Annuity Option(s) you have chosen. We will send the first annuity payment under this Contract on the day following the Annuity Date. Choice of Annuity Date -- CHOICE OF ANNUITY DATE - Your Annuity Date is shown in the Contract Specifications. If you did not select an Annuity Date in your application for this Contract, we assigned an Annuity Date based on the type of this Contract and the Annuitant's age. See Default Annuity Date and OptionsAge (see DEFAULT ANNUITY DATE AND OPTIONS). You may change your Annuity Date by notifying providing proper notice to us in writing at least 10 ten (10) Business Days prior to your current Annuity Date or new Annuity Date, whichever is earlier. Your Annuity Date may not be earlier than your first Contract Anniversary, Anniversary and must occur on or before the day your the younger Annuitant reaches his or her 100th 95/th/ birthday. If your Contract is a Qualified Contract, your Annuity Date cannot be or earlier than your first Contract Anniversary, and must occur on as required by state law or before April 15 of the calendar year following the year in which your Annuitant (who is the Qualified Plan participant) reaches his or her 70 1/2th birthdayCode. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect your Annuity Date. Application If you change your Annuity Date and that date is before the end of Contract Value -- the Guarantee Term for an existing GIO, that GIO may be subject to an MVA on the new Annuity Date (see GUARANTEED INTEREST OPTIONS - MARKET VALUE ADJUSTMENTS (MVAS)). APPLICATION OF CONTRACT VALUE - Prior to the Annuity Date, you may elect to convert all or part of your Net Contract Value Value, less any Contract Debt, any transfer feeapplicable MVA, and any charges charge for premium taxes and or and/or other taxes, to an any currently offered Annuity Option we then offer on the Annuity DateOption. You may also elect a full withdrawal (subject to the terms of the withdrawal provisions) in lieu of annuity payments under an Annuity Option. Before we make any full withdrawal, we require return of this Contract, Contract (or a signed lost Lost Contract affidavit), Affidavit) to us. The aggregate net amount you apply convert must be at least $5,00010,000; otherwise, we will reserve the right to pay a single amount equal to your withdrawal proceeds. See proceeds (see AMOUNT AVAILABLE FOR WITHDRAWALS). If you convert only a portion of your Net Contract Value on your Annuity Date, you may, at that time, elect not to have the option to elect remainder of your Net Contract Value distributed, but instead to continue your Contract with that remaining Contract Value. This option may or may not be available, or may be available only for certain types of Contracts. If this option is availableavailable and you elect it, you would choose a second Annuity Date for such Contract Value; all references in this Contract to your Annuity Start Date (or Annuity Date) would, with regard to such Contract Value, be deemed to refer to that second Annuity Date. This option may or may not be available, or may be available only for certain types of Contracts. You should call PM your tax adviser for more information if you desire this option. Your Selections -- YOUR SELECTIONS - Prior to the Annuity Date, you may make three selections about the annuity payments. First, you may choose whether you want those payments to be a fixed-dollar amount or a variable-dollar amount, or both. Second, you may choose the form of annuity payments (Annuity Option). Third, you may choose to have annuity payments made monthly, quarterly, semi-annuallysemiannually, or annually. The first annuity payment on any the Annuity Date will be sent on the day following the Annuity Date and must be at least $250. We will may reduce your payment frequency if the first annuity payment is less than $250. If you elect annuity payments for a Period Certain Only, we also reserve the right to also reduce the Period Certain to meet the $250 minimum first payment. After the Annuity Date, you may not change the Annuity Option, or surrender the Contract for payment of amounts converted into a variable annuity and or and/or fixed annuity. Fixed and Variable Annuities -- You may choose a fixed annuity (with fixed- dollar payments), a variable annuity (with variable-dollar payments), or you may choose both. You may convert one portion of your Contract Value, less any Contract Debt, any transfer fee, and any charges for premium taxes and or other taxes, into a fixed annuity and another portion into a variable annuity. If you select a variable annuity, you may choose any Subaccounts for your annuity. On your Annuity Date, we will transfer that portion of your Contract Value, less Contract Debt, you indicate to the Subaccount(s) you choose, if you select a variable annuity. We will transfer the portion of your Contract Value, less Contract Debt, you indicate, to the Fixed Option, if you choose a fixed annuity. We will apply the net amount you convert to a fixed annuity and or a variable annuity, (and in this instance, to each Subaccount), based on your relative Account Value in each Investment Option on the Annuity Date. Any net amount you convert to a fixed annuity will be held in our General Account (but not under the Fixed Option). Each periodic payment for the fixed annuity will be equal to the amount of your first fixed annuity payment (unless you elect a joint and survivor life annuity with reduced survivor payments). The amount of each variable annuity periodic payment will vary with the investment results of the Subaccount(s) you select. After the Annuity Date, the Annuitant may exchange the Annuity Units in any Subaccount(s) for Annuity Units in any other Subaccount(s) up to four times in any twelve month period. We reserve the right to limit the Subaccounts available, to change the number and frequency of exchanges, and to change the number of Subaccounts you may choose. In choosing an Annuity Option, you must submit your Option request to us in writing on a form provided by us or in another form satisfactory to us. Annuity Options -- The following forms of annuity payments are available under this Contract, although additional options may become available in the future:.