Common use of JOINT AND CONTINGENT SURVIVOR OPTION Clause in Contracts

JOINT AND CONTINGENT SURVIVOR OPTION. This option provides Annuity Payments for the life of the primary Annuitant. Annuity Payments will be made to the primary Annuitant as long as he or she is living. Upon the death of the primary Annuitant, Annuity Payments will be made to the contingent Annuitant as long as he or she is living. If the contingent Annuitant is not living upon the death of the primary Annuitant, no further payments will be made. ANNUITY START AMOUNT Annuity Start Amount is used only with Annuity Options 1 through 4, 7 and 8. Annuity Start Amount allocated to the Fixed Account is applied to purchase a Fixed Annuity and that allocated to the Subaccounts is applied to purchase a Variable Annuity. The Annuity Start Amount is divided by $1,000, and the result is multiplied by the applicable amount in the Annuity Tables to determine the minimum guaranteed monthly Annuity Payment with respect to a Fixed Annuity or the first monthly Annuity Payment with respect to a Variable Annuity. Fixed Account Contract Value applied to Annuity Options 1 through 4, 7 and 8 terminate any unexpired Guarantee Periods as of the Annuity Start Date.