Common use of ANNUITY BENEFITS Clause in Contracts

ANNUITY BENEFITS. A. APPLICATION OF CONTRACT VALUE Upon receipt of your written request for an annuity payout, we apply all or a portion of the unloaned Contract Value to provide a Fixed Annuity Payout or a Variable Annuity Payout or both. If the amount to be annuitized on the date the annuity payout is scheduled to begin is less than $5,000, instead we may pay the Withdrawal Value in a lump sum. We reserve the right to deduct applicable premium taxes and other state or federal taxes from the Contract Value on any Annuity Payout Date is required by law. B. ANNUITY PAYOUT OPTIONS You may select an annuity payout by sending us a written request. Your request must be received by us at least thirty (30) days before the is scheduled to begin. If you have not selected a required minimum distribution payment method, we will provide an annuity payout option to you at age eighty-five (85), unless you notify us otherwise in writing. The following options are available for annuity payouts: ANNUITY PAYOUT OPTION 1. INSTALLMENTS FOR LIFE WITH OR WITHOUT A FIXED PERIOD CERTAIN. We will pay the proceeds in equal installments for as long as the Payee lives. If a Fixed Period Certain is chosen, we guarantee to make payments for at least 120 months. If the Payee dies before the end of the Fixed Period Certain, we will pay the remaining guaranteed payments in accordance with Section 11. For each $1,000 of Contract Value applied, the Annuity Payout Option 1 Table shows the guaranteed minimum rate for each installment under a Fixed Annuity Payout, or the rate used to determine the first installment under a Variable Annuity Payout using an assumed yield of three percent (3%). The rate depends upon: 1. Whether the 120-month Fixed Period Certain is chosen; and 2. The Payee's age on his/her birthday nearest the date the first installment is due.

ANNUITY BENEFITS. A. APPLICATION OF CONTRACT VALUE Upon receipt On or before the Contract Maturity Date, you may elect any one of your written request for an annuity payoutthe Annuity Payment Options as described in Section 18. If no election is made, we apply all will begin to pay a series of annuity payments to the Owner beginning on the Contract Maturity Date for a period certain of 10 years and as long thereafter as the Annuitant (or a portion Joint Annuitant, if one is named) is alive. The amount of each annuity payment will be equal to the unloaned Contract Value to provide a Fixed Annuity Payout or a Variable Annuity Payout or bothas described in Section 2, less any applicable 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 annuitized applied on the date Contract Maturity Date would result in monthly payments of less than $20, we may pay such amount to you in one lump sum. We also have the right to change the annuity payout is scheduled payment frequency to begin annual if the monthly annuity payment is less than $5,000, instead we 20. contract may pay the Withdrawal Value in a lump sumnot be avaiSlaEbCleTiInONyo1u9r:sAtaNteN.UITY PAYMENT OPTIONS Election of an Annuity Payment Option must be made by written request. We reserve the right to deduct applicable premium taxes require that the election 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 other state or federal taxes from sex of any person on whose life payments depend, to the Contract Value on extent permitted by the jurisdiction in which this contract is issued, as well as proof of the continued survival of any Annuity Payout Date is required by law. B. ANNUITY PAYOUT OPTIONS such person. You may select not change the Annuity Payment Option you elected after the first annuity payment is made. When a Beneficiary elects to apply the death benefit under an available Annuity Payment Option, the term “Annuitant” as used in the description of the Annuity Payment Options is a reference to the Beneficiary. The annuity payout benefits at the time of their commencement will not be less than those that would be provided by sending us the application of the Cash Surrender Value to purchase a written request. Your request must be received single premium immediate annuity contract at purchase rates offered by us at least thirty (30) days before the is scheduled time to begin. If you have not selected a required minimum distribution payment method, we will provide an annuity payout option to you at age eighty-five (85), unless you notify us otherwise in writing. The following options are available for annuity payouts: ANNUITY PAYOUT OPTION 1. INSTALLMENTS FOR LIFE WITH OR WITHOUT A FIXED PERIOD CERTAIN. We will pay the proceeds in equal installments for as long as the Payee lives. If a Fixed Period Certain is chosen, we guarantee to make payments for at least 120 months. If the Payee dies before the end same class of the Fixed Period Certain, we will pay the remaining guaranteed payments in accordance with Section 11. For each $1,000 of Contract Value applied, the Annuity Payout Option 1 Table shows the guaranteed minimum rate for each installment under a Fixed Annuity Payout, or the rate used to determine the first installment under a Variable Annuity Payout using an assumed yield of three percent (3%). The rate depends upon: 1. Whether the 120-month Fixed Period Certain is chosen; and 2. The Payee's age on his/her birthday nearest the date the first installment is dueannuitants.

ANNUITY BENEFITS. A. APPLICATION OF CONTRACT VALUE Upon receipt On or before the Contract Maturity Date, you may elect any one of your written request for an annuity payoutthe Annuity Payment Options as described in Section 18. If no election is made, we apply all will begin to pay a series of annuity payments to the Owner beginning on the Contract Maturity Date for a period certain of 10 years and as long thereafter as the Annuitant (or a portion Joint Annuitant, if one is named) is alive. The amount of each annuity payment will be equal to the unloaned Contract Value to provide a Fixed Annuity Payout or a Variable Annuity Payout or bothas described in Section 2, less any applicable 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 annuitized applied on the date Contract Maturity Date would result in monthly payments of less than $20, we may pay such amount to you in one lump sum. We also have the right to change the annuity payout is scheduled payment frequency to begin annual if the monthly annuity payment is less than $5,000, instead we 20. contract may pay the Withdrawal Value in a lump sumnot be avaiSlaEbCleTiInONyo1u9r:sAtaNteN.UITY PAYMENT OPTIONS Election of an Annuity Payment Option must be made by written request. We reserve the right to deduct applicable premium taxes require that the election 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 other state or federal taxes from sex of any person on whose life payments depend, to the Contract Value on extent permitted by the jurisdiction in which the contract is issued, as well as proof of the continued survival of any Annuity Payout Date is required by law. B. ANNUITY PAYOUT OPTIONS such person. You may select not change the Annuity Payment Option you elected after the first annuity payment is made. When a Beneficiary elects to apply the death benefit under an available Annuity Payment Option, the term “Annuitant” as used in the description of the Annuity Payment Options is a reference to the Beneficiary. The annuity payout benefits at the time of their commencement will not be less than those that would be provided by sending us the application of the Cash Surrender Value to purchase a written request. Your request must be received single premium immediate annuity contract at purchase rates offered by us at least thirty (30) days before the is scheduled time to begin. If you have not selected a required minimum distribution payment method, we will provide an annuity payout option to you at age eighty-five (85), unless you notify us otherwise in writing. The following options are available for annuity payouts: ANNUITY PAYOUT OPTION 1. INSTALLMENTS FOR LIFE WITH OR WITHOUT A FIXED PERIOD CERTAIN. We will pay the proceeds in equal installments for as long as the Payee lives. If a Fixed Period Certain is chosen, we guarantee to make payments for at least 120 months. If the Payee dies before the end same class of the Fixed Period Certain, we will pay the remaining guaranteed payments in accordance with Section 11. For each $1,000 of Contract Value applied, the Annuity Payout Option 1 Table shows the guaranteed minimum rate for each installment under a Fixed Annuity Payout, or the rate used to determine the first installment under a Variable Annuity Payout using an assumed yield of three percent (3%). The rate depends upon: 1. Whether the 120-month Fixed Period Certain is chosen; and 2. The Payee's age on his/her birthday nearest the date the first installment is dueannuitants.