Common use of Full and Partial Surrenders Clause in Contracts

Full and Partial Surrenders. You may fully surrender your Contract any time prior to the Maturity Date. You may request a partial surrender prior to the Maturity Date provided that the Contract Value remaining after the partial surrender meets the minimum limits shown on the Contract Schedule. If the remaining Contract Value after a partial surrender is less than the minimum shown on the Contract Schedule, then we will treat the surrender request as a full surrender. The amount we pay upon a full or partial surrender is equal to the Contract Value surrendered minus fees and premium tax, if any. We will make partial surrenders pro-rata from the Sub-Accounts. A surrender will result in the cancellation of Accumulation Units from each applicable subaccount of the Separate Account in the ratio that the Contract Value in the subaccount bears to the total Contract Value. You must specify in a notice to us from which subaccount(s) values are to be surrendered if a different method is desired. Your surrender request must be in writing. We will accept surrender requests submitted via facsimile. There are risks associated with not requiring original signatures in order to disburse the money. To minimize the risks, the proceeds will be sent to your last recorded address in our records, so be sure to notify us, in writing with an original signature of any address change. We do not assume responsibility for improper disbursements if you have failed to provide us with the current address to which the proceeds should be sent. We will pay the amount of any surrender within seven (7) days of receipt of the notice in good order unless we have suspended or postponed payments for surrenders. If payment of the surrender proceeds is not made within 30 days of our receipt of your written request, or if later, within 30 days of the surrender date you specify, the proceeds will be credited with interest from the date of surrender. The rate of interest will be set each year by us, but will not be less than any rate of interest required by law. Suspension or Delay in Payment of Surrender: We may suspend or postpone payments for a surrender or transfer for any period when: • the New York Stock Exchange is closed, • when trading on the New York Stock Exchange is restricted, • when an emergency exists and as a result the disposal of securities in the Variable Accounts is not reasonably practicable or it is not reasonably practicable to fairly determine the value of the net assets in the Variable Accounts, or • during any other period when the Securities and Exchange Commission by order permits a suspension of Surrender for the protection of security holders.

Full and Partial Surrenders. You A full surrender of the Contract may fully surrender your Contract be made any time prior to the Maturity Annuity Commencement Date. You Partial surrenders may request a partial surrender be made prior to the Maturity Annuity Commencement Date provided that the Contract Value remaining after the partial surrender meets the minimum limits shown on the Contract Schedule. If the remaining Contract Value after a partial surrender is less than the minimum shown on the Contract Schedule, then we will treat the surrender request as a full surrenderat least $10,000. The amount we pay upon a full or partial surrender is equal to the Contract Value surrendered minus fees any applicable surrender charge, premium tax and premium tax, if anycontract maintenance fee. We will make partial surrenders surrender amounts pro-rata from the Sub-AccountsAllocation Options. A Penalty Free Surrender—During the first Contract Year you may surrender will result in an amount equal to 10% of your initial Purchase Payment without incurring a surrender charge. After the cancellation first Contract Anniversary you may surrender an amount equal to 10% of Accumulation Units from each applicable subaccount of the Separate Account in the ratio that the Contract Value as of the prior Contract Anniversary without incurring a surrender charge. This is called a 'penalty free surrender'. Partial surrenders in excess of the subaccount bears penalty free surrender during any Contract Year and a full surrender may be subject to the total surrender charge. Determining the Surrender Charge—We calculate the surrender charge by first allocating surrendered Contract Value. You must specify Value in excess of the penalty free surrender to Purchase Payments not previously assessed with a notice to us from which subaccount(ssurrender charge using a "first-in", "first-out" (FIFO) values are to be surrendered if a different method is desired. Your surrender request must be in writingbasis. We will accept then allocate any remaining surrendered Contract Value pro-rata to these Purchase Payments. The surrender requests submitted via facsimilecharge is the total of each of the allocated amounts of surrendered Contract Value multiplied by its applicable surrender charge percentage, as shown on the Schedule. There are risks If the surrendered Contract Value exceeds the penalty free surrender and if no surrendered Contract Value was allocated to Purchase Payments, the surrender charge on the surrendered Contract Value is determined by applying the surrender charge percentage associated with not requiring original signatures in order to disburse the money. To minimize the risks, the proceeds will be sent to your last recorded address in our records, so be sure to notify us, in writing with an original signature of any address change. We do not assume responsibility for improper disbursements if you have failed to provide us with the current address to which the proceeds should be sent. We will pay the amount of any surrender within seven (7) days of receipt of the notice in good order unless most recent Purchase Payment we have suspended or postponed payments for surrenders. If payment of the surrender proceeds is not made within 30 days of our receipt of your written request, or if later, within 30 days of the surrender date you specify, the proceeds will be credited with interest from the date of surrender. The rate of interest will be set each year by us, but will not be less than any rate of interest required by lawaccepted. Suspension or Delay in Payment of Surrender: We —The Company may suspend or postpone payments for delay the date of payment of a partial or full surrender or transfer from the Variable Account value for any period when: • the New York Stock Exchange is closed, • when trading on the New York Stock Exchange is restricted, • when an emergency exists and as a result the disposal of securities in the Variable Accounts is not reasonably practicable or it is not reasonably practicable to fairly determine the value of the net assets in the Variable Accounts, or • during any other period when the Securities and Exchange Commission by order permits a suspension of Surrender for the protection of security holders.period:

Full and Partial Surrenders. You A full surrender of the Contract may fully surrender your Contract be made any time prior to the Maturity Annuity Commencement Date. You Partial surrenders may request a partial surrender be made prior to the Maturity Annuity Commencement Date provided that the Contract Value remaining after the partial surrender meets the minimum limits shown on the Contract Schedule. If the remaining Contract Value after a partial surrender is less than the minimum shown on the Contract Schedule, then we will treat the surrender request as a full surrenderat least {$10,000}. The amount we pay upon a full or partial surrender is equal to the Contract Value surrendered minus fees any applicable surrender charge, premium tax and premium tax, if anycontract maintenance fee. We will make partial surrenders surrender amounts pro-rata from the Sub-AccountsAllocation Options. A Penalty Free Surrender—During the first Contract Year you may surrender will result in an amount equal to {10%} of your initial Purchase Payment without incurring a surrender charge. After the cancellation first Contract Anniversary you may surrender an amount equal to {10%} of Accumulation Units from each applicable subaccount of the Separate Account in the ratio that the Contract Value as of the prior Contract Anniversary without incurring a surrender charge. This is called a 'penalty free surrender'. Partial surrenders in excess of the subaccount bears penalty free surrender during any Contract Year and a full surrender may be subject to the total surrender charge. Determining the Surrender Charge—We calculate the surrender charge by first allocating surrendered Contract Value. You must specify Value in excess of the penalty free surrender to Purchase Payments not previously assessed with a notice to us from which subaccount(ssurrender charge using a "first-in, first-out" (FIFO) values are to be surrendered if a different method is desired. Your surrender request must be in writingbasis. We will accept then allocate any remaining surrendered Contract Value pro-rata to these Purchase Payments. The surrender requests submitted via facsimilecharge is the total of each of the allocated amounts of surrendered Contract Value multiplied by its applicable surrender charge percentage, as shown on the Schedule. There are risks If the surrendered Contract Value exceeds the penalty free surrender and if no surrendered Contract Value was allocated to Purchase Payments, the surrender charge on the surrendered Contract Value is determined by applying the surrender charge percentage associated with not requiring original signatures in order to disburse the money. To minimize the risks, the proceeds will be sent to your last recorded address in our records, so be sure to notify us, in writing with an original signature of any address change. We do not assume responsibility for improper disbursements if you have failed to provide us with the current address to which the proceeds should be sent. We will pay the amount of any surrender within seven (7) days of receipt of the notice in good order unless most recent Purchase Payment we have suspended or postponed payments for surrenders. If payment of the surrender proceeds is not made within 30 days of our receipt of your written request, or if later, within 30 days of the surrender date you specify, the proceeds will be credited with interest from the date of surrender. The rate of interest will be set each year by us, but will not be less than any rate of interest required by lawaccepted. Suspension or Delay in Payment of Surrender: We —The Company may suspend or postpone payments for delay the date of payment of a partial or full surrender or transfer from the Variable Account value for any period when: • the New York Stock Exchange is closed, • when trading on the New York Stock Exchange is restricted, • when an emergency exists and as a result the disposal of securities in the Variable Accounts is not reasonably practicable or it is not reasonably practicable to fairly determine the value of the net assets in the Variable Accounts, or • during any other period when the Securities and Exchange Commission by order permits a suspension of Surrender for the protection of security holders.period: