Common use of GUARANTEED WITHDRAWAL BENEFIT FOR LIFE Clause in Contracts

GUARANTEED WITHDRAWAL BENEFIT FOR LIFE. The GWBL guarantees that you may elect to take withdrawals from the Annuity Account Value up to a maximum amount per Contract Year (the “GAWA”) during your lifetime (and the lifetime of your spouse, if Joint Life payments are elected). GAWA payments will continue even if the Annuity Account Value falls to zero unless it does so due to a withdrawal that causes cumulative withdrawals in any Contract Year to exceed the GAWA. This Contract is issued as a result of a direct rollover Contribution from a Prior Contract and is based on the information that we have in our records for the Prior Contract. We refer to this information as “Prior Contract Imported Record Data.” If you previously elected to begin taking GAWA payments under the Prior Contract and want to continue to receive GAWA payments under this Contract, you must elect to do so as discussed below in “Electing to Take GAWA Payments.”