Common use of CONTRACT LOANS Clause in Contracts

CONTRACT LOANS. Loans — If this Contract is issued under a Qualified Plan under Code Section 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while the Annuitant is living and the Contract is in force. Loan Procedures — The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days after the Contract Date and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentation. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan. Loan Account — On the effective date of the loan, we will transfer an amount equal to the principal amount of the loan into the Loan Account. We will transfer amounts to the Loan Account on a pro rata basis from the Investment Options based on the Account Value in each. We will credit interest on amounts in the Loan Account at an annual rate equal to 3.0%. Interest earned will accrue daily beginning on the day following the effective day of the loan. The interest credited will be transferred from the Loan Account to the Investment Options on a pro rata basis relative to the most recent allocation instructions. As your loan is repaid, the amount of the repayment will be transferred from the Loan Account to your Investment Options on a pro rata basis relative to your most recent allocation instructions. Loan Terms — You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • 50% of the Contract Value; or • $50,000 less the highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate — You will be charged interest on the Contract Debt at an annual rate equal to 5%. Interest charged will accrue daily beginning on the day the loan is effective. Repayment Terms — You must repay principal and interest of any loan within five (5) years after its effective date. If you have certified to us that the loan proceeds will be used to acquire a principal residence for yourself, you may request a loan for up to thirty (30) years. In either case, you must repay the loan in full prior to the Annuity Date. The loan, including principal and accrued interest, must be repaid in quarterly installments that are substantially level. An installment will be due each quarter on the date corresponding to the loan effective date, beginning with the first such date following the effective date of the loan. You may, however, repay the entire loan at any time. If you do so, we will bill you for any accrued interest. The loan will be considered repaid only when the interest due has also been paid. We will treat all payments you send us as Purchase Payments, unless you specifically indicate that the payment is a loan repayment. To the extent permitted by law, any loan repayments in excess of the amount then due will be applied to the principal balance of the loan. Such repayments will not change the due dates or the periodic repayment amount due for future periods. If a loan repayment is in excess of the principal balance of the loan, any excess repayment will be refunded to you. Repayments received that are less than the amount then due will be returned to you, unless otherwise required by law. If a loan repayment is not made when due, we will declare the entire remaining loan balance in default. At that time, we will provide written notification of the amount needed to bring the loan back to the current status. You will have sixty (60) days from the date on which the loan was declared in default (the “grace period”) to make the required repayment. If the required repayment is not received by us by the end of the grace period, the defaulted loan balance plus accrued interest will be repaid by a withdrawal from the Contract Value to the extent that such values are then eligible for distribution. In order for an amount to be eligible for distribution from a Qualified Plan you must meet one of the following triggering events:

CONTRACT LOANS. Loans — - If this Contract is issued under a Qualified Plan under Code Section 401 or 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while the Annuitant is living and the Contract is in force. Loan Procedures — - The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days after the Contract Date and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentationdocumentation in a form satisfactory to us. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan. Loan Account — - On the effective date of the loan, we will transfer an amount equal to the principal amount of the loan into the Loan Account. We will transfer amounts to the Loan Account on a pro rata basis from the Investment Options based on the Account Value in each. We For those Contracts issued under Qualified Plans that are exempt from the requirements of Title 1 of the Employee Retirement Income Security Act of 1974 ("ERISA"), we will credit interest on amounts in the Loan Account at an annual rate equal to 3.0%. For those Contracts issued under Qualified Plans that are subject to the requirements of Title 1 of ERISA, we will credit interest on amounts in the Loan Account at an annual rate that is two percentage points lower than the annual loan interest rate charged on the loan. Interest earned will accrue daily beginning on the day following the effective day of the loan. The interest credited will be transferred from the Loan Account to the Investment Options on a pro rata basis relative to the most recent allocation instructions. As your loan is repaid, the amount of the repayment will be transferred from the Loan Account to your Investment Options on a pro rata basis relative to your most recent allocation instructions. Loan Terms — - You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • . 50% of the Contract Value; or • . $50,000 less the highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate — You will be charged interest on the Contract Debt at an annual rate equal to 5%. Interest charged will accrue daily beginning on the day the loan is effective. Repayment Terms — You must repay principal and interest of any loan within five (5) years after its effective date. If you have certified to us that the loan proceeds will be used to acquire a principal residence for yourself, you may request a loan for up to thirty (30) years. In either case, you must repay the loan in full prior to the Annuity Date. The loan, including principal and accrued interest, must be repaid in quarterly installments that are substantially level. An installment will be due each quarter on the date corresponding to the loan effective date, beginning with the first such date following the effective date of the loan. You may, however, repay the entire loan at any time. If you do so, we will bill you for any accrued interest. The loan will be considered repaid only when the interest due has also been paid. We will treat all payments you send us as Purchase Payments, unless you specifically indicate that the payment is a loan repayment. To the extent permitted by law, any loan repayments in excess of the amount then due will be applied to the principal balance of the loan. Such repayments will not change the due dates or the periodic repayment amount due for future periods. If a loan repayment is in excess of the principal balance of the loan, any excess repayment will be refunded to you. Repayments received that are less than the amount then due will be returned to you, unless otherwise required by law. If a loan repayment is not made when due, we will declare the entire remaining loan balance in default. At that time, we will provide written notification of the amount needed to bring the loan back to the current status. You will have sixty (60) days from the date on which the loan was declared in default (the “grace period”) to make the required repayment. If the required repayment is not received by us by the end of the grace period, the defaulted loan balance plus accrued interest will be repaid by a withdrawal from the Contract Value to the extent that such values are then eligible for distribution. In order for an amount to be eligible for distribution from a Qualified Plan you must meet one of the following triggering events:.

CONTRACT LOANS. Loans — - If this Contract is issued under a Qualified Plan under Code Section 401 or 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while the Annuitant is living and the Contract is in force. Loan Procedures — - The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days after the Contract Date and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentationdocumentation in a form satisfactory to us. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan. Loan Account — - On the effective date of the loan, we will transfer an amount equal to the principal amount of the loan into the Loan Account. We will transfer amounts to the Loan Account on a pro rata basis from the Investment Options based on the Account Value in each. We For those Contracts issued under Qualified Plans that are exempt from the requirements of Title 1 of the Employee Retirement Income Security Act of 1974 ("ERISA"), we will credit interest on amounts in the Loan Account at an annual rate equal to 3.0%. For those Contracts issued under Qualified Plans that are subject to the requirements of Title 1 of ERISA, we will credit interest on amounts in the Loan Account at an annual rate that is two percentage points lower than the annual loan interest rate charged on the loan. Interest earned will accrue daily beginning on the day following the effective day of the loan. The interest credited will be transferred from the Loan Account to the Investment Options on a pro rata basis relative to the most recent allocation instructions. As your loan is repaid, the amount of the repayment will be transferred from the Loan Account to your Investment Options on a pro rata basis relative to your most recent allocation instructions. Loan Terms — - You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • . 50% of the Contract Value; or • . $50,000 less the highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate — You will be charged interest on the Contract Debt at an annual rate equal to 5%. Interest charged will accrue daily beginning on the day the loan is effective. Repayment Terms — You must repay principal and interest of any loan within five (5) years after its effective date. If you have certified to us that the loan proceeds will be used to acquire a principal residence for yourself, you may request a loan for up to thirty (30) years. In either case, you must repay the loan in full prior to the Annuity Date. The loan, including principal and accrued interest, must be repaid in quarterly installments that are substantially level. An installment will be due each quarter on the date corresponding to the loan effective date, beginning with the first such date following the effective date of the loan. You may, however, repay the entire loan at any time. If you do so, we will bill you for any accrued interest. The loan will be considered repaid only when the interest due has also been paid. We will treat all payments you send us as Purchase Payments, unless you specifically indicate that the payment is a loan repayment. To the extent permitted by law, any loan repayments in excess of the amount then due will be applied to the principal balance of the loan. Such repayments will not change the due dates or the periodic repayment amount due for future periods. If a loan repayment is in excess of the principal balance of the loan, any excess repayment will be refunded to you. Repayments received that are less than the amount then due will be returned to you, unless otherwise required by law. If a loan repayment is not made when due, we will declare the entire remaining loan balance in default. At that time, we will provide written notification of the amount needed to bring the loan back to the current status. You will have sixty (60) days from the date on which the loan was declared in default (the “grace period”) to make the required repayment. If the required repayment is not received by us by the end of the grace period, the defaulted loan balance plus accrued interest will be repaid by a withdrawal from the Contract Value to the extent that such values are then eligible for distribution. In order for an amount to be eligible for distribution from a Qualified Plan you must meet one of the following triggering events:.

CONTRACT LOANS. Loans — - If this Contract is issued under a Qualified Plan under Code Section 401 or 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while the Annuitant is living and the Contract is in force. Loan Procedures — - The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days after the Contract Date and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentation. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan. Loan Account — - On the effective date of the loan, we will transfer an amount equal to the principal amount of the loan into the Loan Account. We will transfer amounts to the Loan Account on a pro rata basis from the Fixed and Variable Investment Options based on the Account Value in each. We For those Contracts issued under Qualified Plans that are exempt from the requirements of Title 1 of the Employee Retirement Income Security Act of 1974 ("ERISA"), we will credit interest on amounts in the Loan Account at an annual rate equal to 3.0%. For those Contracts issued under Qualified Plans that are subject to the requirements of Title 1 of ERISA, we will credit interest on amounts in the Loan Account at an annual rate that is two percentage points lower than the annual loan interest rate charged on the loan. Interest earned will accrue daily beginning on the day following the effective day of the loan. The interest credited will be transferred from the Loan Account to the Fixed and Variable Investment Options on a pro rata basis relative to the most recent allocation instructions. As your loan is repaid, the amount of the repayment will be transferred from the Loan Account to your Investment Options on a pro rata basis relative to your most recent allocation instructions. Loan Terms — - You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • . 50% of the Contract Value; or • . $50,000 less the highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate — You will be charged interest on the Contract Debt at an annual rate equal to 5%. Interest charged will accrue daily beginning on the day the loan is effective. Repayment Terms — You must repay principal and interest of any loan within five (5) years after its effective date. If you have certified to us that the loan proceeds will be used to acquire a principal residence for yourself, you may request a loan for up to thirty (30) years. In either case, you must repay the loan in full prior to the Annuity Date. The loan, including principal and accrued interest, must be repaid in quarterly installments that are substantially level. An installment will be due each quarter on the date corresponding to the loan effective date, beginning with the first such date following the effective date of the loan. You may, however, repay the entire loan at any time. If you do so, we will bill you for any accrued interest. The loan will be considered repaid only when the interest due has also been paid. We will treat all payments you send us as Purchase Payments, unless you specifically indicate that the payment is a loan repayment. To the extent permitted by law, any loan repayments in excess of the amount then due will be applied to the principal balance of the loan. Such repayments will not change the due dates or the periodic repayment amount due for future periods. If a loan repayment is in excess of the principal balance of the loan, any excess repayment will be refunded to you. Repayments received that are less than the amount then due will be returned to you, unless otherwise required by law. If a loan repayment is not made when due, we will declare the entire remaining loan balance in default. At that time, we will provide written notification of the amount needed to bring the loan back to the current status. You will have sixty (60) days from the date on which the loan was declared in default (the “grace period”) to make the required repayment. If the required repayment is not received by us by the end of the grace period, the defaulted loan balance plus accrued interest will be repaid by a withdrawal from the Contract Value to the extent that such values are then eligible for distribution. In order for an amount to be eligible for distribution from a Qualified Plan you must meet one of the following triggering events:.

CONTRACT LOANS. Loans — - If this Contract is issued under a Qualified Plan under Code Section 401 or 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while Value after the Annuitant is living first Contract Year and before the Contract is in forceAnnuity Date. Loan Procedures — - The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days at any time after the first Contract Date Anniversary and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentationdocumentation in a form satisfactory to us. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan. Loan Account — - On the effective date of the loan, we will transfer an amount equal to the principal amount of the loan into the Loan Account. We will transfer amounts to the Loan Account on a pro rata basis from the Investment Options based on the Account Value in each. We For those Contracts issued under Qualified Plans that are exempt from the requirements of Title 1 of the Employee Retirement Income Security Act of 1974 ("ERISA"), we will credit interest on amounts in the Loan Account at an annual rate equal to 3.0%. For those Contracts issued under Qualified Plans that are subject to the requirements of Title 1 of ERISA, we will credit interest on amounts in the Loan Account at an annual rate that is two percentage points lower than the annual loan interest rate charged on the loan. Interest earned will accrue daily beginning on the day following the effective day of the loan. The interest credited will be transferred from the Loan Account to the Investment Options on a pro rata basis relative to the most recent allocation instructions. As your loan is repaid, the amount of the repayment will be transferred from the Loan Account to your Investment Options on a pro rata basis relative to your most recent allocation instructions. Loan Terms — - You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • . 50% of the Contract Value; or • . $50,000 less the highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate — You will be charged interest on the Contract Debt at an annual rate equal to 5%. Interest charged will accrue daily beginning on the day the loan is effective. Repayment Terms — You must repay principal and interest of any loan within five (5) years after its effective date. If you have certified to us that the loan proceeds will be used to acquire a principal residence for yourself, you may request a loan for up to thirty (30) years. In either case, you must repay the loan in full prior to the Annuity Date. The loan, including principal and accrued interest, must be repaid in quarterly installments that are substantially level. An installment will be due each quarter on the date corresponding to the loan effective date, beginning with the first such date following the effective date of the loan. You may, however, repay the entire loan at any time. If you do so, we will bill you for any accrued interest. The loan will be considered repaid only when the interest due has also been paid. We will treat all payments you send us as Purchase Payments, unless you specifically indicate that the payment is a loan repayment. To the extent permitted by law, any loan repayments in excess of the amount then due will be applied to the principal balance of the loan. Such repayments will not change the due dates or the periodic repayment amount due for future periods. If a loan repayment is in excess of the principal balance of the loan, any excess repayment will be refunded to you. Repayments received that are less than the amount then due will be returned to you, unless otherwise required by law. If a loan repayment is not made when due, we will declare the entire remaining loan balance in default. At that time, we will provide written notification of the amount needed to bring the loan back to the current status. You will have sixty (60) days from the date on which the loan was declared in default (the “grace period”) to make the required repayment. If the required repayment is not received by us by the end of the grace period, the defaulted loan balance plus accrued interest will be repaid by a withdrawal from the Contract Value to the extent that such values are then eligible for distribution. In order for an amount to be eligible for distribution from a Qualified Plan you must meet one of the following triggering events:.

CONTRACT LOANS. Loans — If this your Contract is issued under a Qualified Plan under Code Section Sections 401 or 403 and the your Qualified Plan permits, you may request a loan of a portion of the your Contract Value, while the Annuitant is living Value after your first Contract Year and the Contract is in forcebefore your Annuity Date. Loan Procedures — The LOAN PROCEDURES - Your loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days at any time after the your first Contract Date Anniversary and before the your Annuity Date. However; however, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the your loan will usually be effective as of the end of the Business Day on which we receive all necessary documentationdocumentation in a form satisfactory to us. We will normally forward proceeds of the your loan to you within seven (7) calendar days after the effective date of the your loan. Loan Account — LOAN ACCOUNT - On the effective date of the your loan, we will transfer an amount equal to the principal amount of the your loan into an account called the Loan Account. We will transfer amounts to the Loan Account on a pro rata basis from the your Fixed and Variable Investment Options based on the your Account Value in each. We will credit interest on amounts in the Loan Account at a rate equal to an annual rate equal to 3.0%that is two percentage points lower than the annual loan interest rate charged on your loan. Interest earned will accrue daily beginning on the day following the effective day of the loan. The interest credited will be transferred from the Loan Account to the Investment Options on a pro rata basis relative to the most recent allocation instructions. As your loan is repaid, the amount of the repayment will be transferred from the Loan Account to your Fixed and Variable Investment Options on a pro rata basis relative to your most recent allocation instructions. Loan Terms — LOAN TERMS - You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • . 50% of the your Contract Value; or • . $50,000 less the your highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the your loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate — LOAN INTEREST RATE - You will be charged interest on the your Contract Debt at an annual rate rate, set at the time the loan is made, equal to the higher of 5%% or the Moody's Corporate Bond Yield Average-Monthly Corporates, as published by Xxxxx'x Investors Service, Inc., or its successor, for the most recent available month. In the event that the Moody's Corporate Bond Yield Average Monthly Corporates is no longer available, we will use a substantially similar average, subject to compliance with applicable state regulations. Interest charged will accrue daily beginning on the day the your loan is effective. Repayment Terms — You must repay principal and interest We will notify you of any loan within five (5) years after its effective date. If you have certified to us that the loan proceeds will be used to acquire interest rate when you make a principal residence for yourself, you may request a loan for up to thirty (30) years. In either case, you must repay the loan in full prior to the Annuity Date. The Contract loan, including principal and accrued interest, must be repaid in quarterly installments that are substantially level. An installment will be due each quarter on the date corresponding to the loan effective date, beginning with the first such date following the effective date of the loan. You may, however, repay the entire loan at any time. If you do so, we will bill you for any accrued interest. The loan will be considered repaid only when the interest due has also been paid. We will treat all payments you send us as Purchase Payments, unless you specifically indicate that the payment is a loan repayment. To the extent permitted by law, any loan repayments in excess of the amount then due will be applied to the principal balance of the loan. Such repayments will not change the due dates or the periodic repayment amount due for future periods. If a loan repayment is in excess of the principal balance of the loan, any excess repayment will be refunded to you. Repayments received that are less than the amount then due will be returned to you, unless otherwise required by law. If a loan repayment is not made when due, we will declare the entire remaining loan balance in default. At that time, we will provide written notification of the amount needed to bring the loan back to the current status. You will have sixty (60) days from the date on which the loan was declared in default (the “grace period”) to make the required repayment. If the required repayment is not received by us by the end of the grace period, the defaulted loan balance plus accrued interest will be repaid by a withdrawal from the Contract Value to the extent that such values are then eligible for distribution. In order for an amount to be eligible for distribution from a Qualified Plan you must meet one of the following triggering events:.

CONTRACT LOANS. Loans — If this Contract is issued under a Qualified Plan under Code Section 401 or 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while Value after the Annuitant is living first Contract Year and before the Contract is in forceAnnuity Date. Loan Procedures — The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days at any time after the first Contract Date Anniversary and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentationdocumentation in a form satisfactory to us. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan. Loan Account — On the effective date of the loan, we will transfer an amount equal to the principal amount of the loan into the Loan Account. We will transfer amounts to the Loan Account on a pro rata basis from the Investment Options based on the Account Value in each. We For those Contracts issued under Qualified Plans that are exempt from the requirements of Title 1 of the Employee Retirement Income Security Act of 1974 (“ERISA”), we will credit interest on amounts in the Loan Account at an annual rate equal to 3.0%. For those Contracts issued under Qualified Plans that are subject to the requirements of Title 1 of ERISA, we will credit interest on amounts in the Loan Account at an annual rate that is two percentage points lower than the annual loan interest rate charged on the loan. Interest earned will accrue daily beginning on the day following the effective day of the loan. The interest credited will be transferred from the Loan Account to the Investment Options on a pro rata basis relative to the most recent allocation instructions. As your loan is repaid, the amount of the repayment will be transferred from the Loan Account to your Investment Options on a pro rata basis relative to your most recent allocation instructions. Loan Terms — You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • 50% of the Contract Value; or • $50,000 less the highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate — You will be charged interest on the Contract Debt at an annual rate equal to 5%. Interest charged will accrue daily beginning on the day the loan is effective. Repayment Terms — You must repay principal and interest of any loan within five (5) years after its effective date. If you have certified to us that the loan proceeds will be used to acquire a principal residence for yourself, you may request a loan for up to thirty (30) years. In either case, you must repay the loan in full prior to the Annuity Date. The loan, including principal and accrued interest, must be repaid in quarterly installments that are substantially level. An installment will be due each quarter on the date corresponding to the loan effective date, beginning with the first such date following the effective date of the loan. You may, however, repay the entire loan at any time. If you do so, we will bill you for any accrued interest. The loan will be considered repaid only when the interest due has also been paid. We will treat all payments you send us as Purchase Payments, unless you specifically indicate that the payment is a loan repayment. To the extent permitted by law, any loan repayments in excess of the amount then due will be applied to the principal balance of the loan. Such repayments will not change the due dates or the periodic repayment amount due for future periods. If a loan repayment is in excess of the principal balance of the loan, any excess repayment will be refunded to you. Repayments received that are less than the amount then due will be returned to you, unless otherwise required by law. If a loan repayment is not made when due, we will declare the entire remaining loan balance in default. At that time, we will provide written notification of the amount needed to bring the loan back to the current status. You will have sixty (60) days from the date on which the loan was declared in default (the “grace period”) to make the required repayment. If the required repayment is not received by us by the end of the grace period, the defaulted loan balance plus accrued interest will be repaid by a withdrawal from the Contract Value to the extent that such values are then eligible for distribution. In order for an amount to be eligible for distribution from a Qualified Plan you must meet one of the following triggering events:.

CONTRACT LOANS. Loans — - If this Contract is issued under a Qualified Plan under Code Section 401 or 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while the Annuitant is living and the Contract is in force. Loan Procedures — - The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days after the Contract Date and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentation. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan. Loan Account — - On the effective date of the loan, we will transfer an amount equal to the principal amount of the loan into the Loan Account. We will transfer amounts to the Loan Account on a pro rata basis from the Investment Options based on the Account Value in each. We For those Contracts issued under Qualified Plans that are exempt from the requirements of Title 1 of the Employee Retirement Income Security Act of 1974 ("ERISA"), we will credit interest on amounts in the Loan Account at an annual rate equal to 3.0%. For those Contracts issued under Qualified Plans that are subject to the requirements of Title 1 of ERISA, we will credit interest on amounts in the Loan Account at an annual rate that is two percentage points lower than the annual loan interest rate charged on the loan. Interest earned will accrue daily beginning on the day following the effective day of the loan. The interest credited will be transferred from the Loan Account to the Investment Options on a pro rata basis relative to the most recent allocation instructions. As your loan is repaid, the amount of the repayment will be transferred from the Loan Account to your Investment Options on a pro rata basis relative to your most recent allocation instructions. Loan Terms — - You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • . 50% of the Contract Value; or • . $50,000 less the highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate — You will be charged interest on the Contract Debt at an annual rate equal to 5%. Interest charged will accrue daily beginning on the day the loan is effective. Repayment Terms — You must repay principal and interest of any loan within five (5) years after its effective date. If you have certified to us that the loan proceeds will be used to acquire a principal residence for yourself, you may request a loan for up to thirty (30) years. In either case, you must repay the loan in full prior to the Annuity Date. The loan, including principal and accrued interest, must be repaid in quarterly installments that are substantially level. An installment will be due each quarter on the date corresponding to the loan effective date, beginning with the first such date following the effective date of the loan. You may, however, repay the entire loan at any time. If you do so, we will bill you for any accrued interest. The loan will be considered repaid only when the interest due has also been paid. We will treat all payments you send us as Purchase Payments, unless you specifically indicate that the payment is a loan repayment. To the extent permitted by law, any loan repayments in excess of the amount then due will be applied to the principal balance of the loan. Such repayments will not change the due dates or the periodic repayment amount due for future periods. If a loan repayment is in excess of the principal balance of the loan, any excess repayment will be refunded to you. Repayments received that are less than the amount then due will be returned to you, unless otherwise required by law. If a loan repayment is not made when due, we will declare the entire remaining loan balance in default. At that time, we will provide written notification of the amount needed to bring the loan back to the current status. You will have sixty (60) days from the date on which the loan was declared in default (the “grace period”) to make the required repayment. If the required repayment is not received by us by the end of the grace period, the defaulted loan balance plus accrued interest will be repaid by a withdrawal from the Contract Value to the extent that such values are then eligible for distribution. In order for an amount to be eligible for distribution from a Qualified Plan you must meet one of the following triggering events:.

CONTRACT LOANS. Loans — If this Contract is issued under a Qualified Plan under Code Section 401 or 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, Value while the Annuitant is living and the Contract is in force. Loan Procedures — The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days after the first Contract Date and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentationdocumentation in a form satisfactory to us. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan. Loan Account — On the effective date of the loan, we will transfer an amount equal to the principal amount of the loan into the Loan Account. We will transfer amounts to the Loan Account on a pro rata basis from the Investment Options based on the Account Value in each. We will credit interest on amounts in the Loan Account at an annual rate equal to 3.0%. Interest earned will accrue daily beginning on the day following the effective day of the loan. The interest credited will be transferred from the Loan Account to the Investment Options on a pro rata basis relative to the most recent allocation instructions. As your loan is repaid, the amount of the repayment will be transferred from the Loan Account to your Investment Options on a pro rata basis relative to your most recent allocation instructions. Loan Terms — You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • 50% of the Contract Value; or • $50,000 less the highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate — —You will be charged interest on the Contract Debt at an annual rate equal to 5%. Interest charged will accrue daily beginning on the day the loan is effective. Repayment Terms — You must repay principal and interest of any loan within five (5) years after its effective date. If you have certified to us that the loan proceeds will be used to acquire a principal residence for yourself, you may request a loan for up to thirty (30) years. In either case, you must repay the loan in full prior to the Annuity Date. The loan, including principal and accrued interest, must be repaid in quarterly installments that are substantially level. An installment will be due each quarter on the date corresponding to the loan effective date, beginning with the first such date following the effective date of the loan. You may, however, repay the entire loan at any time. If you do so, we will bill you for any accrued interest. The loan will be considered repaid only when the interest due has also been paid. We will treat all payments you send us as Purchase Payments, Payments unless you specifically indicate that the payment is a loan repayment. To the extent permitted by law, any loan repayments in excess of the amount then due will be applied to the principal balance of the loan. Such repayments will not change the due dates or the periodic repayment amount due for future periods. If a loan repayment is in excess of the principal balance of the loan, any excess repayment will be refunded to you. Repayments received that are less than the amount then due will be returned to you, unless otherwise required by law. If a loan repayment is not made when due, we will declare the entire remaining loan balance in default. At that time, we will provide written notification of the amount needed to bring the loan back to the current status. You will have sixty (60) days from the date on which the loan was declared in default (the “grace period”) to make the required repayment. If the required repayment is not received by us by the end of the grace period, the defaulted loan balance plus accrued interest will be repaid by a withdrawal from the Contract Value to the extent that such values are then eligible for distribution. In order for an amount to be eligible for distribution from a Qualified Plan you must meet one of the following triggering events: