Common use of Death Benefits Ceded Clause in Contracts

Death Benefits Ceded. GUARANTEED MINIMUM DEATH BENEFITS (GMDB) ---------------------------------------- o Annual Step-Up Benefit for issue ages 0-79: Greater Maximum Anniversary Value to attained age 80; GMDB frozen thereafter. o Greater of 5% Index and Annual Step-Up for issues ages 0-79: Greater maximum Anniversary Value to attained age 80 and 5% Rollup to attained age 80; GMDB frozen thereafter. Note: Withdrawals reduce the death benefit proportionately. EARNINGS PRESERVATION BENEFITS (EPB) ------------------------------------ o Before the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where (a) is the death benefit under the contract, and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. o On or after the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where SCHEDULE A PLANS OF REINSURANCE (PAGE 2 OF 3) (a) is the death benefit under the contract anniversary immediately prior to the owner's 81st birthday, increased by subsequent Purchase Payments and reduced proportionately by the percentage reduction in Account Value attributable to each subsequent partial withdrawal; and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. Gain = (a) - (b) as defined above.

Death Benefits Ceded. GUARANTEED MINIMUM DEATH BENEFITS Guaranteed Minimum Death Benefits (GMDB) ---------------------------------------- o Annual Step-Up Benefit for issue ages 0-79: Greater Maximum Anniversary Value to attained age 80; GMDB frozen thereafter. o Greater of 5% Index and Annual Step-Up for issues ages 0-79: Greater maximum Anniversary Value to attained age 80 and 5% Rollup to attained age 80; GMDB frozen thereafter. Note: Withdrawals reduce the death benefit proportionately. EARNINGS PRESERVATION BENEFITS Earnings Preservation Benefits (EPB) ------------------------------------ o Before the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where (a) is the death benefit under the contract, and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. o On or after the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where SCHEDULE A PLANS OF REINSURANCE (PAGE 2 OF 3) (a) is the death benefit under the contract anniversary immediately prior to the owner's 81st birthday, increased by subsequent Purchase Payments and reduced proportionately by the percentage reduction in Account Value attributable to each subsequent partial withdrawal; and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. Gain = (a) - (b) as defined above.

Death Benefits Ceded. GUARANTEED MINIMUM DEATH BENEFITS Guaranteed Minimum Death Benefits (GMDB) ---------------------------------------- o . Basic Death Benefit: Greater of Account Value, Return of Premium and Highest Fifth Anniversary Value. . Annual Step-Up Benefit for issue ages 0-79Benefit: Greater Maximum Anniversary Value to attained age 80; GMDB frozen thereafter. o . Greater of 5% Index and Annual Step-Up for issues ages 0-79Up: Greater maximum Anniversary Value to attained age 80 and 5% Rollup to attained age 80; GMDB frozen thereafter. Note: Withdrawals reduce the death benefit proportionately. EARNINGS PRESERVATION BENEFITS Earnings Preservation Benefits (EPB) ------------------------------------ o . Before the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where (a) is the death benefit under the contract, and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. o . On or after the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where SCHEDULE A PLANS OF REINSURANCE (PAGE 2 OF 34) (a) is the death benefit under the contract anniversary immediately prior to the owner's 81st birthday, increased by subsequent Purchase Payments and reduced proportionately by the percentage reduction in Account Value attributable to each subsequent partial withdrawal; and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. Gain = (a) - (b) as defined above.

Death Benefits Ceded. GUARANTEED MINIMUM DEATH BENEFITS Guaranteed Minimum Death Benefits (GMDB) ---------------------------------------- o - Annual Step-Up Benefit for issue ages 0-79: Greater Maximum Anniversary Value to attained age 80; GMDB frozen thereafter. o - Greater of 5% Index and Annual Step-Up for issues ages 0-79: Greater maximum Anniversary Value to attained age 80 and 5% Rollup to attained age 80; GMDB frozen thereafter. Note: Withdrawals reduce the death benefit proportionately. EARNINGS PRESERVATION BENEFITS Earnings Preservation Benefits (EPB) ------------------------------------ o - Before the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where (a) is the death benefit under the contract, and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. o - On or after the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where SCHEDULE A PLANS OF REINSURANCE (PAGE 2 OF 3) (a) is the death benefit under the contract anniversary immediately prior to the owner's 81st birthday, increased by subsequent Purchase Payments and reduced proportionately by the percentage reduction in Account Value attributable to each subsequent partial withdrawal; and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. Gain = (a) - (b) as defined above.

Death Benefits Ceded. GUARANTEED MINIMUM DEATH BENEFITS Guaranteed Minimum Death Benefits (GMDB) ---------------------------------------- o . Annual Step-Up Benefit for issue ages 0-79: Greater Maximum Anniversary Value to attained age 80; GMDB frozen thereafter. o . Greater of 5% Index and Annual Step-Up for issues ages 0-79: Greater maximum Anniversary Value to attained age 80 and 5% Rollup to attained age 80; GMDB frozen thereafter. Note: Withdrawals reduce the death benefit proportionately. EARNINGS PRESERVATION BENEFITS Earnings Preservation Benefits (EPB) ------------------------------------ o . Before the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where (a) is the death benefit under the contract, and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. o . On or after the contract anniversary immediately prior to the owner's 81st birthday, the EPB is, 40% of (a) - (b) for issue ages 0-69 25% of (a) - (b) for issue ages 70-79, where SCHEDULE A (REVISED) PLANS OF REINSURANCE (PAGE 2 OF 3) (a) is the death benefit under the contract anniversary immediately prior to the owner's 81st birthday, increased by subsequent Purchase Payments and reduced proportionately by the percentage reduction in Account Value attributable to each subsequent partial withdrawal; and (b) is the total Purchase Payments not withdrawn. For purposes of calculating this value, partial withdrawals are first applied against earnings in the contract (Earnings are equal to the Account Value less Purchase Payments not withdrawn), and then against Purchase Payments not withdrawn. Gain = (a) - (b) as defined above.