Fixed and Variable Accounts Clause Samples

Fixed and Variable Accounts. The Fixed Account The fixed account is comprised of the One Year Fixed Account and the Guarantee Period Accounts. One Year Fixed Account The One Year Fixed Account is our general account. It is made up of all our assets other than those in:

Fixed and Variable Accounts. The Fixed Account The fixed account is our general account. It is made up of all our assets other than 1. those in the variable accounts; and 2. those in any other segregated asset account. The Variable Account The variable account is a separate investment account of ours. It consists of several subaccounts which are named under Contract Data. We have allocated a part of our assets for this and certain other contracts to the variable account. Such assets remain our property. However, they may not be charged with the liabilities from any other business in which we may take part. Investments of the Variable Account Purchase payments applied to the variable account will be allocated as specified by the owner. Each variable subaccount will buy, at net asset value, shares of the fund shown for that subaccount under Contract Data or as later added or changed. We may change the funds the variable subaccounts buy shares from if laws or regulations change, the existing funds become unavailable or, in the judgment of American Centurion Life, the funds are no longer suitable for the subaccounts. If any of these situations occur, we would have the right to substitute funds other than those shown under Contract Data. We may also add additional subaccounts investing in other funds. We would first seek approval of the Securities and Exchange Commission and, where required, the insurance regulator of the state where this contract is delivered. Valuation of Assets Fund shares in the variable subaccounts will be valued at their net asset value. Variable Account Accumulation Units The number of accumulation units for each of the variable subaccounts is found by adding the number of accumulation units resulting from:

Fixed and Variable Accounts. (continued) The number of accumulation units added or subtracted for each of the above transactions is found by dividing: 1. the amount allocated to or deducted from the subaccount; by 2. the accumulation unit value for the subaccount for the respective valuation period during which we received the purchase payment or transfer value, or during which we deducted transfers, withdrawals, withdrawal charges or contract administrative charges. Variable Account Accumulation Unit Value The value of an accumulation unit for each of the variable subaccounts was set at $1 when the first fund shares were bought. The value for any later valuation period is found as follows: The accumulation unit value for each variable account for the last prior valuation period is multiplied by the net investment factor for the same subaccount for the next following valuation period. The result is the accumulation unit value. The value of an accumulation unit may increase or decrease from one valuation period to the next.

Fixed and Variable Accounts. Fixed Account The Fixed Account consists of all assets of the Company other than those allocated to any separate account of the Company. Any portion of a Net Purchase Payment allocated by a Participant to a Guarantee Period(s) will become part of the Fixed Account.

Fixed and Variable Accounts. (continued)

Fixed and Variable Accounts. (continued)