Common use of DEATH BENEFIT IF ANNUITANT IS AN OWNER Clause in Contracts

DEATH BENEFIT IF ANNUITANT IS AN OWNER. If the Annuitant is an Owner, the beneficiary becomes entitled to the Death Benefit upon receipt at the Home Office of satisfactory proof of the death of the Annuitant before the Maturity Date. The Death Benefit will be the Accumulation Value of the contract determined on the effective date. The effective date is the date on which proof of death is received at the Home Office. However, the effective date will be the next following Valuation Date if the proof of death is received at the Home Office either: o on a Valuation Date after the close of trading on the New York Stock Exchange; or o on a day on which the New York Stock Exchange is closed. If the beneficiary becomes entitled to the Death Benefit due to the death of the Primary Annuitant prior to the Primary Annuitant's 75th birthday, the Death Benefit will not be less than: o total Net Purchase Payments paid under the contract; less o any amounts withdrawn under Section 4.5. As of the effective date, the Accumulation Value of the contract will be set at an amount equal to the Death Benefit. Unless a payment plan was elected by the Owner, the beneficiary automatically becomes the Owner and Annuitant of the contract. However, if the beneficiary is not a natural person and no payment plan was elected by the Owner, the beneficiary may select a natural person to be the Annuitant. If a natural person is not selected to be the Annuitant within 60 days of the date on which proof of death of the Annuitant is received at the Home Office, the Accumulation Value will be distributed to the beneficiary. If a beneficiary becomes entitled to the Death Benefit in an amount less than the Minimum Accumulation Value shown on page 4, the Accumulation Value will be distributed to the beneficiary. The cash value of any amount distributed will be the Accumulation Value withdrawn as of the date of withdrawal as determined in Section 4.6.

DEATH BENEFIT IF ANNUITANT IS AN OWNER. If the Annuitant is an Owner, the beneficiary Beneficiary becomes entitled to the Death Benefit death benefit upon receipt at the Home Office of satisfactory proof of the death of the Annuitant before the Maturity Date. The Death Benefit death benefit will be the Accumulation Value of the contract Contract determined on the effective date. The effective date is the date on which proof of death is received at the Home Office. However, the effective date will be the next following Valuation Date if the proof of death is received at the Home Office either: o on a Valuation Date after the close of trading on the New York Stock Exchange; or o on a day on which the New York Stock Exchange is closed. If the beneficiary Beneficiary becomes entitled to the Death Benefit death benefit due to the death of the Primary Annuitant prior to the Primary Annuitant's ’s 75th birthday, the Death Benefit death benefit will not be less than: o • total Net Purchase Payments paid under the contractContract; less o any amounts withdrawn • an adjustment for every withdrawal made under Section 4.5. The adjustment for each withdrawal equals (a) times (b), where: (a) = the amount withdrawn from the Accumulation Value divided by the Accumulation Value immediately before the withdrawal; and (b) = total Purchase Payments paid under the Contract prior to the withdrawal less all adjustments for prior withdrawals. As of the effective date, the Accumulation Value of the contract Contract will be set at an amount equal to the Death Benefitdeath benefit. Unless a payment an income plan was elected by the Owner, the beneficiary Beneficiary automatically becomes the Owner and Annuitant of the contractContract. However, if the beneficiary Beneficiary is not a natural person and no payment income plan was elected by the Owner, the beneficiary Beneficiary may select a natural person to be the Annuitant. If a natural person is not selected to be the Annuitant within 60 days of the date on which proof of death of the Annuitant is received at the Home Office, the Accumulation Value will be distributed to the beneficiaryBeneficiary. If a beneficiary Beneficiary becomes entitled to the Death Benefit death benefit in an amount less than the Minimum Accumulation Value shown on page Page 4, the Accumulation Value will be distributed to the beneficiaryBeneficiary. The cash value of any amount distributed will be the Accumulation Value withdrawn as of the date of withdrawal as determined in Section 4.6.

DEATH BENEFIT IF ANNUITANT IS AN OWNER. If the Annuitant is an Owner, the beneficiary becomes entitled to the Death Benefit upon receipt at the Home Office of satisfactory proof of the death of the Annuitant before the Maturity Date. The Death Benefit will be the Accumulation Value of the contract determined on the effective date. The effective date is the date on which proof of death is received at the Home Office. However, the effective date will be the next following Valuation Date if the proof of death is received at the Home Office either: o on a Valuation Date after the close of trading on the New York Stock Exchange; or o on a day on which the New York Stock Exchange is closed. If the beneficiary becomes entitled to the Death Benefit due to the death of the Primary Annuitant prior to the Primary Annuitant's ’s 75th birthday, the Death Benefit will not be less than: o • total Net Purchase Payments paid under the contract; less o any amounts withdrawn • an adjustment for every withdrawal made under Section 4.5. The adjustment for each withdrawal equals (a) times (b), where: (a) = the amount withdrawn from the Accumulation Value divided by the Accumulation Value immediately before the withdrawal; and (b) = total Purchase Payments paid under the contract prior to the withdrawal less all adjustments for prior withdrawals. As of the effective date, the Accumulation Value of the contract will be set at an amount equal to the Death Benefit. Unless a payment plan was elected by the Owner, the beneficiary automatically becomes the Owner and Annuitant of the contract. However, if the beneficiary is not a natural person and no payment plan was elected by the Owner, the beneficiary may select a natural person to be the Annuitant. If a natural person is not selected to be the Annuitant within 60 days of the date on which proof of death of the Annuitant is received at the Home Office, the Accumulation Value will be distributed to the beneficiary. If a beneficiary becomes entitled to the Death Benefit in an amount less than the Minimum Accumulation Value shown on page 4, the Accumulation Value will be distributed to the beneficiary. The cash value of any amount distributed will be the Accumulation Value withdrawn as of the date of withdrawal as determined in Section 4.6.

DEATH BENEFIT IF ANNUITANT IS AN OWNER. If the Annuitant is an Owner, the beneficiary becomes entitled to the Death Benefit upon receipt at the Home Office of satisfactory proof of the death of the Annuitant before the Maturity Date. The Death Benefit will be the Accumulation Value of the contract determined on the effective date. The effective date is the date on which proof of death is received at the Home Office. However, the effective date will be the next following Valuation Date if the proof of death is received at the Home Office either: o : on a Valuation Date after the close of trading on the New York Stock Exchange; or o . on a day on which the New York Stock Exchange is closed. If the beneficiary becomes entitled to the Death Benefit due to the death of the Primary Annuitant prior to the Primary Annuitant's 75th birthday, the Death Benefit will not be less than: o . total Net Purchase Payments paid under the contract; less o any amounts withdrawn . an adjustment for every withdrawal made under Section 4.5. The adjustment for each withdrawal equals (a) times (b), where: (a) = the amount withdrawn from the Accumulation Value divided by the Accumulation Value immediately before the withdrawal; and (b) = total Net Purchase Payments paid under the contract prior to the withdrawal less all adjustments for prior withdrawals. As of the effective date, the Accumulation Value of the contract will be set at an amount equal to the Death Benefit. Unless a payment plan was elected by the Owner, the beneficiary automatically becomes the Owner and Annuitant of the contract. However, if the beneficiary is not a natural person and no payment plan was elected by the Owner, the beneficiary may select a natural person to be the Annuitant. If a natural person is not selected to be the Annuitant within 60 days of the date on which proof of death of the Annuitant is received at the Home Office, the Accumulation Value will be distributed to the beneficiary. If a beneficiary becomes entitled to the Death Benefit in an amount less than the Minimum Accumulation Value shown on page 4, the Accumulation Value will be distributed to the beneficiary. The cash value of any amount distributed will be the Accumulation Value withdrawn as of the date of withdrawal as determined in Section 4.6.

DEATH BENEFIT IF ANNUITANT IS AN OWNER. If the Annuitant is an Owner, the beneficiary becomes entitled to the Death Benefit upon receipt at the Home Office of satisfactory proof of the death of the Annuitant before the Maturity Date. The Death Benefit will be the Accumulation Value of the contract determined on the effective date. The effective date is the date on which proof of death is received at the Home Office. However, the effective date will be the next following Valuation Date if the proof of death is received at the Home Office either: o • on a Valuation Date after the close of trading on the New York Stock Exchange; or o • on a day on which the New York Stock Exchange is closed. If the beneficiary becomes entitled to the Death Benefit due to the death of the Primary Annuitant prior to the Primary Annuitant's ’s 75th birthday, the Death Benefit will not be less than: o • total Net Purchase Payments paid under the contract; less o any amounts withdrawn • an adjustment for every withdrawal made under Section 4.5. The adjustment for each withdrawal equals (a) times (b), where: (a) = the amount withdrawn from the Accumulation Value divided by the Accumulation Value immediately before the withdrawal; and (b) = total Net Purchase Payments paid under the contract prior to the withdrawal less all adjustments for prior withdrawals. As of the effective date, the Accumulation Value of the contract will be set at an amount equal to the Death Benefit. Unless a payment plan was elected by the Owner, the beneficiary automatically becomes the Owner and Annuitant of the contract. However, if the beneficiary is not a natural person and no payment plan was elected by the Owner, the beneficiary may select a natural person to be the Annuitant. If a natural person is not selected to be the Annuitant within 60 days of the date on which proof of death of the Annuitant is received at the Home Office, the Accumulation Value will be distributed to the beneficiary. If a beneficiary becomes entitled to the Death Benefit in an amount less than the Minimum Accumulation Value shown on page 4, the Accumulation Value will be distributed to the beneficiary. The cash value of any amount distributed will be the Accumulation Value withdrawn as of the date of withdrawal as determined in Section 4.6.

DEATH BENEFIT IF ANNUITANT IS AN OWNER. If the Annuitant is an Owner, the beneficiary becomes entitled to the Death Benefit upon receipt at the Home Office of satisfactory proof of the death of the Annuitant before the Maturity Date. The Death Benefit will be the Accumulation Value of the contract determined on the effective date. The effective date is the date on which proof of death is received at the Home Office. However, the effective date will be the next following Valuation Date if the proof of death is received at the Home Office either: o - on a Valuation Date after the close of trading on the New York Stock Exchange; or o - on a day on which the New York Stock Exchange is closed. If the beneficiary becomes entitled to the Death Benefit due to the death of the Primary Annuitant prior to the Primary Annuitant's 75th birthday, the Death Benefit will not be less than: o - total Net Purchase Payments paid under the contract; less o - any amounts withdrawn under Section 4.5. As of the effective date, the Accumulation Value of the contract will be set at an amount equal to the Death Benefit. Unless a payment plan was elected by the Owner, the beneficiary automatically becomes the Owner and Annuitant of the contract. However, if the beneficiary is not a natural person and no payment plan was elected by the Owner, the beneficiary may select a natural person to be the Annuitant. If a natural person is not selected to be the Annuitant within 60 days of the date on which proof of death of the Annuitant is received at the Home Office, the Accumulation Value will be distributed to the beneficiary. If a beneficiary becomes entitled to the Death Benefit in an amount less than the Minimum Accumulation Value shown on page 4, the Accumulation Value will be distributed to the beneficiary. The cash value of any amount distributed will be the Accumulation Value withdrawn as of the date of withdrawal as determined in Section 4.6.

DEATH BENEFIT IF ANNUITANT IS AN OWNER. If the Annuitant is an Owner, the beneficiary becomes entitled to the Death Benefit upon receipt at the Home Office of satisfactory proof of the death of the Annuitant before the Maturity Date. The Death Benefit will be the Accumulation Value of the contract Contract determined on the effective date. The effective date is the date on which proof of death is received at the Home Office. However, the effective date will be the next following Valuation Date if the proof of death is received at the Home Office either: o on a Valuation Date after the close of trading on the New York Stock Exchange; or o on a day on which the New York Stock Exchange is closed. If the beneficiary becomes entitled to the Death Benefit due to the death of the Primary Annuitant prior to the Primary Annuitant's ’s 75th birthday, the Death Benefit will not be less than: o • total Net Purchase Payments paid under the contractContract; less o any amounts withdrawn • an adjustment for every withdrawal made under Section 4.5. The adjustment for each withdrawal equals (a) times (b), where: (a) = the amount withdrawn from the Accumulation Value divided by the Accumulation Value immediately before the withdrawal; and (b) = total Purchase Payments paid under the Contract prior to the withdrawal less all adjustments for prior withdrawals. As of the effective date, the Accumulation Value of the contract Contract will be set at an amount equal to the Death Benefit. Unless a payment plan was elected by the Owner, the beneficiary automatically becomes the Owner and Annuitant of the contractContract. However, if the beneficiary is not a natural person and no payment plan was elected by the Owner, the beneficiary may select a natural person to be the Annuitant. If a natural person is not selected to be the Annuitant within 60 days of the date on which proof of death of the Annuitant is received at the Home Office, the Accumulation Value will be distributed to the beneficiary. If a beneficiary becomes entitled to the Death Benefit in an amount less than the Minimum Accumulation Value shown on page 4, the Accumulation Value will be distributed to the beneficiary. The cash value of any amount distributed will be the Accumulation Value withdrawn as of the date of withdrawal as determined in Section 4.6.

DEATH BENEFIT IF ANNUITANT IS AN OWNER. If the Annuitant is an Owner, the beneficiary becomes entitled to the Death Benefit upon receipt at the Home Office of satisfactory proof of the death of the Annuitant before the Maturity Date. The Death Benefit will be the Accumulation Value of the contract Contract determined on the effective date. The effective date is the date on which proof of death is received at the Home Office. However, the effective date will be the next following Valuation Date if the proof of death is received at the Home Office either: o on a Valuation Date after the close of trading on the New York Stock Exchange; or o on a day on which the New York Stock Exchange is closed. If the beneficiary becomes entitled to the Death Benefit due to the death of the Primary Annuitant prior to the Primary Annuitant's ’s 75th birthday, the Death Benefit will not be less than: o • total Net Purchase Payments paid under the contractContract; less o any amounts withdrawn • an adjustment for every withdrawal made under Section 4.5. The adjustment for each withdrawal equals (a) times (b), where: (a) = the amount withdrawn from the Accumulation Value divided by the Accumulation Value immediately before the withdrawal; and (b) = total Purchase Payments paid under the Contract prior to the withdrawal less all adjustments for prior withdrawals. As of the effective date, the Accumulation Value of the contract Contract will be set at an amount equal to the Death Benefit. Unless a payment plan was elected by the Owner, the beneficiary automatically becomes the Owner and Annuitant of the contractContract. However, if the beneficiary is not a natural person and no payment plan was elected by the Ownerowner, the beneficiary may select a natural person to be the Annuitant. If a natural person is not selected to be the Annuitant within 60 days of the date on which proof of death of the Annuitant is received at the Home Office, the Accumulation Value will be distributed to the beneficiary. If a beneficiary becomes entitled to the Death Benefit in an amount less than the Minimum Accumulation Value shown on page 4, the Accumulation Value will be distributed to the beneficiary. The cash value of any amount distributed will be the Accumulation Value withdrawn as of the date of withdrawal as determined in Section 4.6.