Common use of Death Benefit Payment Options Clause in Contracts

Death Benefit Payment Options. If death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under Annuity Options A, B, or C paid over the lifetime of the Beneficiary or the guaranteed period as applicable. We deduct the final Product Fee, if applicable, before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Fee shown on the Contract Schedule. Any Beneficiary’s portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account within seven days of receipt of a Valid Claim from the Beneficiary, unless the Suspension of Payments or Transfers provision in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee shown on the Contract Schedule, if applicable, after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefit.

Death Benefit Payment Options. If death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable, and the Transfer Fee shown on the Contract Schedule. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under an Annuity Options A, B, or C paid Option over the lifetime of the Beneficiary or the guaranteed period as applicable. We deduct the final Product Fee, if applicable, before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index AnniversaryBeneficiary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable, and theTransfer Fee shown on the Contract Schedule. Any Beneficiary’s portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account and it is not paid within seven days of receipt of a Valid Claim from the Beneficiary, we will pay interest from day 8 until the date of payment at the rate of interest currently paid by the Company on proceeds left under the interest settlement option, unless the Suspension of Payments or Transfers provision section in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable, Schedule after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefitdeath benefit.

Death Benefit Payment Options. If death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable, and the Transfer Fee shown on the Contract Schedule. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under an Annuity Option under Annuity Options A1, B2 or 5, or C paid over the lifetime of the Beneficiary or the guaranteed period as applicable. We deduct the final Product Fee, if applicable, before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index AnniversaryBeneficiary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable, and the Transfer Fee shown on the Contract Schedule. If no Death Benefit Payment Option is selected, we default payment to Option B. Any Beneficiary’s 's portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s 's death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account within seven days of after receipt of a Valid Claim from the Beneficiary, unless the Suspension of Payments or Transfers provision section in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable, Schedule after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefitdeath benefit.

Death Benefit Payment Options. If the Owner has not previously designated a Death Benefit payment option and death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, Fee before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee and Transfer Fee shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under an Annuity Options A, B, or C paid Option over the lifetime of the Beneficiary or the guaranteed period as applicableBeneficiary. We deduct the final Product Fee, if applicable, Fee before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Fee and Transfer Fee shown on the Contract Schedule. Any Beneficiary’s portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account within seven days of after receipt of a Valid Claim from the Beneficiary, unless the Suspension of Payments or Transfers provision section in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee shown on the Contract Schedule, if applicable, after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefit.

Death Benefit Payment Options. If the Owner has not previously designated a Death Benefit payment option and death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, Fee before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee and Transfer Fee shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under an Annuity Options A, B, or C paid Option over the lifetime of the Beneficiary or the guaranteed period as applicableBeneficiary. We deduct the final Product Fee, if applicable, Fee before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Fee and Transfer Fee shown on the Contract Schedule. Any Beneficiary’s portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account within seven days of receipt of a Valid Claim from the Beneficiary, unless the Suspension of Payments or Transfers provision section in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee shown on the Contract Schedule, if applicable, after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefit.

Death Benefit Payment Options. If death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, Fee before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under an Annuity Option under Annuity Options A1, B2 or 5, or C paid over the lifetime of the Beneficiary or the guaranteed period as applicableBeneficiary. We deduct the final Product Fee, if applicable, Fee before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Fee shown on the Contract Schedule. Any Beneficiary’s 's portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s 's death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account within seven days of receipt of a Valid Claim from the Beneficiary, unless the Suspension of Payments or Transfers provision in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee shown on the Contract Schedule, if applicable, Schedule after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefitdeath benefit.

Death Benefit Payment Options. If death occurs during the Accumulation PhaseOwner has not previously designated a Death Benefit payment option, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Investment Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under an Annuity Options A, B, or C paid Option over the lifetime of the Beneficiary Beneficiary, or the guaranteed period as applicable. We deduct the final Product Fee, if applicable, before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess Beneficiary. Distribution must begin within one year of the Product Fee shown on the Contract Scheduledate of death of any Owner. Any Beneficiary’s portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account within seven days of receipt of a Valid Claim the first Authorized Request of the Death Benefit payment option, due proof of death, and any necessary governmental forms from the any one Beneficiary, unless the Suspension of Payments or Transfers provision in this contract is in effect. In cases This benefit terminates on the earliest of multiple Beneficiariesthe following. · The Business Day that the Traditional Death Benefit value and the Contract Value are both zero. · The Business Day before the Annuity Date. · The Business Day that the contract terminates. You can, by Authorized Request and with our written consent, assign or otherwise transfer specific rights under this contract during the Accumulation Phase. We reserve the right to refuse to consent to such assignments or transfers at any time on a non-discriminatory basis. We will not consent if the assignment or transfer would violate or result in noncompliance with any applicable state or federal law or regulation. Upon consent, we record the assignment, but we will continue not be responsible for the validity or effect of the assignment, including the tax consequences of such assignment. The assignment is effective as of the date the Authorized Request is signed by you, unless you specify otherwise. We will not be liable to assess the Product Fee shown assignee for any actions we take or payments we make before we consent and record the assignment or transfer. If you assign this contract, you can exercise your rights only with the written consent of the assignee. An assignment does not change the Annuitant or Beneficiary. You can, by Authorized Request and with our written consent, change ownership of this contract to a new Owner during the Accumulation Phase. The Owner may be an individual or non-individual. We reserve the right to refuse to consent to any change of ownership at any time on a non-discriminatory basis. We will not consent if the Contract Schedulechange in ownership would violate or result in noncompliance with any applicable state or federal law or regulation. Upon consent, if applicablewe record the change of ownership, after receiving subject to our approval guidelines at the first Valid Claim time of the request. We will not be responsible for the validity or effect of the change of ownership, including the tax consequences of such transfer. The change is effective as of the date the Authorized Request is signed by you, unless you specify otherwise. We will not be liable to the new Owner for any actions we take or payments we make before we consent and record the change of ownership. A change of ownership does not change the Annuitant or Beneficiary. The new Owner can request a change of Annuitant or Beneficiary by providing an Authorized Request. L40534 12 Ownership continued from the previous page If this contract is owned by a non-individual, then we treat the Annuitant as the Owner for purposes of any one Beneficiary until there has been Death Benefit. We use the Age of the Annuitant to determine any Death Benefit. If the Annuitant dies on a complete distribution of non-individually owned contract, we pay the Death Benefit. The term “non-natural Owner” may also be used to mean “non-individual Owner” in any endorsement and/or rider. A non-individual Owner cannot change the Annuitant. Otherwise, you can change the Annuitant during the Accumulation Phase by providing an Authorized Request. If the Annuitant dies during the Accumulation Phase, a sole Owner automatically becomes the Annuitant, but can name another Annuitant at any time. If there are Joint Owners, the younger Joint Owner automatically becomes the Annuitant, but the Joint Owners can name another Annuitant at any time. An Annuitant change takes effect as of the date you signed the Authorized Request, subject to our approval guidelines at that time. We will not be liable for any actions we take or payments we make before we receive the Authorized Request. For solely owned contracts, you can change the Beneficiary at any time by providing an Authorized Request. For jointly owned contracts, the surviving Joint Owner is the sole primary Beneficiary and cannot be changed. We do not allow non-spousal Joint Owners to appoint contingent Beneficiaries. An irrevocable Beneficiary must give written consent before we will change the Beneficiary. A Beneficiary change takes effect as of the date you signed the Authorized Request. We are not liable for any actions we take or payments we make before the Service Center receives the Authorized Request.

Death Benefit Payment Options. If the Owner has not previously designated a Death Benefit payment option and death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, Fee before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee and Transfer Fee shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under an Annuity Options A, B, or C paid Option over the lifetime of the Beneficiary or the guaranteed period as applicableBeneficiary. We deduct the final Product Fee, if applicable, Fee before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Fee and Transfer Fee shown on the Contract Schedule. Any Beneficiary’s portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account within seven days of receipt of a Valid Claim from the Beneficiary, unless the Suspension of Payments or Transfers provision in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee shown on the Contract Schedule, if applicable, after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefit.

Death Benefit Payment Options. If death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, Fee before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee and Transfer Fee shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under an Annuity Options A, B, or C paid Option over the lifetime of the Beneficiary or the guaranteed period as applicableBeneficiary. We deduct the final Product Fee, if applicable, Fee before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Fee and Transfer Fee shown on the Contract Schedule. Any Beneficiary’s 's portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s 's death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account within seven days of after receipt of a Valid Claim from the Beneficiary, unless the Suspension of Payments or Transfers provision section in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee shown on the Contract Schedule, if applicable, after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefit.

Death Benefit Payment Options. If death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment optionswhen paying the Death Benefit. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under Annuity Options A, B, or C paid over the lifetime of the Beneficiary or the guaranteed period as applicable. We deduct For Annuity Option A, the final Product Fee, if applicable, before calculating Annuity Paymentsguaranteed period can be less than 10 years. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Fee Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable. Distribution must begin within one year of the date of death of any Owner (or Annuitant if the Owner is a non-individual). Any Beneficiary’s portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account and it is not paid within seven calendar days of receipt of a Valid Claim from the Beneficiary, we will pay interest from calendar day eight until the date of payment at the rate of interest currently paid by the Company on proceeds left under the interest settlement option, unless the Suspension of Payments or Transfers provision section in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee shown on the any applicable Contract Schedule, if applicable, Charges after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefit.

Death Benefit Payment Options. If death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment options. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, Fee before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under Annuity Options A, B, or C paid over the lifetime of the Beneficiary Beneficiary, or the guaranteed period as applicable. We deduct the final Product Fee, if applicable, Fee before calculating Annuity Payments. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Fee shown on the Contract Schedule. Any Beneficiary’s portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account within seven days of receipt of a Valid Claim from the Beneficiary, unless the Suspension of Payments or Transfers provision in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee shown on the Contract Schedule, if applicable, Schedule after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefit.

Death Benefit Payment Options. If death occurs during the Accumulation Phase, a Beneficiary must request that the Death Benefit be paid by one of the payment options below or with our written agreement under a payment option other than Option A, Option B or Option C listed below. We do not deduct the Contract Maintenance Charge under these payment optionswhen paying the Death Benefit. Option A - A lump sum payment of the Death Benefit. We deduct the final Product Fee, if applicable, before calculating the Death Benefit. Option B - Deferral of payment of the Death Benefit for up to five years from the date of the death of any Owner. During the deferral period, the Beneficiary can make transfers on an Index Anniversary within their portion of the contract among the Index Allocation Options. At the end of the fifth year, any remaining Death Benefit is paid in a lump sum. If you select Option B, we continue to assess the Product Fee Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable. Option C - If the Beneficiary is an individual, payment of the Death Benefit as Annuity Payments under Annuity Options A, B, or C paid over the lifetime of the Beneficiary or the guaranteed period as applicable. We deduct For Annuity Option A, the final Product Fee, if applicable, before calculating Annuity Paymentsguaranteed period can be less than 10 years. For purposes of this Option C, Annuity Payments do not have to begin on an Index Anniversary. With our written consent, other options may be available for payment over a period not extending beyond the life expectancy of the Beneficiary under which we continue to assess the Product Fee Mortality and Expense Risk Charge shown on the Contract Schedule, if applicable. Distribution must begin within one year of the date of death of any Owner (or Annuitant if the Owner is a non-individual). Any Beneficiary’s portion of the Death Benefit not applied to Annuity Payments under an Annuity Option within one year of the date of the Owner’s death must be distributed within five years of the date of death. If a Beneficiary requests a lump sum payment, we pay the amount from the Variable Account and it is not paid within seven calendar days of receipt of a Valid Claim from the Beneficiary, we will pay interest from calendar day eight until the date of payment at the rate of interest currently paid by the Company on proceeds left under the interest settlement option, unless the Suspension of Payments or Transfers provision section in this contract is in effect. In cases of multiple Beneficiaries, we will continue to assess the Product Fee shown on the any applicable Contract Schedule, if applicable, Charges after receiving the first Valid Claim from any one Beneficiary until there has been a complete distribution of the Death Benefit. Ownership You can, by Authorized Request, assign or otherwise transfer specific rights under this contract during the Accumulation Phase and before the first Valid Claim. Upon receipt of the Authorized Request, we record the assignment, but we will not be responsible for the validity or effect of the assignment, including the tax consequences of such assignment. We will not be liable to the assignee for any actions we take or payments we make before we receive an Authorized Request of the assignment or transfer. If you assign this contract, you can exercise your rights only with the written consent of the assignee. An assignment does not change the Annuitant or Beneficiary(ies). An assignment does not change any Determining Life, except as described under the definition of “Determining Life”. An assignment that is not an absolute assignment does not change the Owner. You can, by Authorized Request, change ownership of this contract to a new Owner during the Accumulation Phase and before the first Valid Claim. Upon receipt of the Authorized Request, we record the change of ownership. We will not be responsible for the validity or effect of the change of ownership, including the tax consequences of such transfer. We will not be liable to the new Owner for any actions we take or payments we make before we receive an Authorized Request of the change of ownership. A change of ownership does not change the Annuitant or Beneficiary(ies). A change of ownership does not change any Determining Life, except as described under the definition of “Determining Life”. The new Owner can request a change of Annuitant or Beneficiary by providing an Authorized Request. If this contract is owned by a non-individual, then we treat the Annuitant as the Owner for purposes of determining the payment of any Death Benefit and determining when the Accumulation Phase ends. If the Annuitant dies on a non-individually owned contract, we pay the Death Benefit to the Beneficiary(ies) as described in “Who receives the Death Benefit”. The term “non-natural Owner” may also be used to mean “non-individual Owner” in any endorsement and/or rider. For individually owned non-qualified contracts, you may, upon Authorized Request, change the Annuitant during the Accumulation Phase. For solely owned individual contracts, where the sole Owner is not the Annuitant, the sole Owner automatically becomes the Annuitant if the Annuitant dies during the Accumulation Phase. The Owner may name another Annuitant at any time. For jointly owned contracts, where neither Joint Owner is the Annuitant, the younger Joint Owner automatically becomes the Annuitant if the Annuitant dies during the Accumulation Phase. The Joint Owners may name another Annuitant at any time. If instead the deceased Xxxxxxxxx was also a Joint Owner, and the surviving Joint Owner continues the Contract, the surviving Joint Owner automatically becomes the Annuitant and may name another Annuitant at any time. For non-individually owned contracts, the Annuitant may not be changed, except as described in the Continuation of Contract by the Surviving Spouse provision. An Annuitant change takes effect as of the date you signed the Authorized Request. We will not be liable for any actions we take or payments we make before the Service Center receives the Authorized Request.