Common use of DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD Clause in Contracts

DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD. A Beneficiary must elect the death benefit to be paid under one of the options below (unless the Owner has previously chosen an option) in the event of the death of an Owner. Subject to the requirements of the Code and applicable regulations, the entire Death Benefit Amount must be distributed: (a) as a lump sum payment within five years of the date of death of the decedent; or (b) as to any Beneficiary, over a period not extending beyond the life expectancy of the Beneficiary or over the life of the Beneficiary, with such distributions beginning within one year of the date of death. With the exception of a Spousal Continuation or Beneficiary Continuation, as described below, we will pay the Death Benefit Amount under (a) above, unless we receive a different election. Spousal Continuation If the Owner dies during the Accumulation Period and the sole primary Beneficiary is the Owner’s spouse, the spouse may choose to continue the Contract in their own name and exercise all the Owner’s rights under the Contract. If the Owner’s spouse continues the Contract, the Death Benefit Amount will not be paid. They will instead continue the Contract at the current Account Value on the date we determine the Death Benefit Amount. The Death Benefit Amount under the continued Contract payable upon the continuing spouse’s death will be computed as described above in the Death Benefit Amount section. 5-213-1 (07/24) 9

DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD. A Beneficiary must elect the death benefit to be paid under one of the options below (unless the Owner has previously chosen an option) in the event of the death of an Owner. Subject to the requirements of the Code and applicable regulations, the entire Death Benefit Amount must be distributed: (a) as a lump sum payment within five years of the date of death of the decedent; or (b) as to any Beneficiary, over a period not extending beyond the life expectancy of the Beneficiary or over the life of the Beneficiary, with such distributions beginning within one year of the date of death. With the exception of a Spousal Continuation or Beneficiary Continuation, as described below, we will pay the Death Benefit Amount under (a) above, unless we receive a different election. Spousal Continuation If the Owner dies during the Accumulation Period and the sole primary Beneficiary is the Owner’s spouse, the spouse may choose to continue the Contract in their own name and exercise all the Owner’s rights under the Contract. If the Owner’s spouse continues the Contract, the Death Benefit Amount will not be paid. They will instead continue the Contract at the current Account Value on the date we determine the Death Benefit Amount. The Death Benefit Amount under the continued Contract payable upon the continuing spouse’s death will be computed as described above in the Death Benefit Amount section. 5-213-1 (07/24) 910