Common use of MARKET LOAN RATE AND INTEREST ACCRUAL Clause in Contracts

MARKET LOAN RATE AND INTEREST ACCRUAL. Loan interest accrues daily. On each Policy anniversary, any unpaid loan interest will be added to the Principal Loan Balance, which consists of outstanding loans and interest added to principal, and will also incur interest as described in this Section. The annual loan interest rate is set by the Company every January 1st. The maximum rate shall not exceed the greater of: • the Minimum Guaranteed Annual Effective Interest Rate for the NM Strength and Stability Account Tier One Balance, shown on the Policy Schedule Pages (page 3), plus one percent; or • the Xxxxx’x Corporate Bond Yield Averages-Monthly Average Corporates rate for the immediately preceding October. This Average is published by Xxxxx’x Investor’s Service, Inc. If it is no longer published, the highest loan interest rate will be based on some other similar average established by the insurance supervisory official of the state in which this Policy is issued for delivery. The Company may change the loan interest rate applied to Policy Debt (including existing Policy Debt) every January 1st. The loan interest rate may be increased if the maximum rate of interest as determined above is 0.5% or more above the then-current loan interest rate. The loan interest rate will be reduced if the maximum rate of interest as determined above is 0.5% or more below the then-current loan interest rate. The Company will give notice: • of the initial loan interest rate in effect at the time a Policy loan is made (Section 10.1); and • of a change in loan interest rate no later than 30 days before the January 1st on which the increase takes effect. This Policy will not terminate during a Policy year as the sole result of an increase in the loan interest rate during that Policy year.

MARKET LOAN RATE AND INTEREST ACCRUAL. Loan interest accrues daily. On each Policy anniversary, any unpaid loan interest will be added to the Principal Loan Balance, which consists of outstanding loans and interest added to principal, and will also incur interest as described in this Section. The annual loan interest rate is set by the Company every January 1st. The maximum rate shall not exceed the greater of: • · the Paid-up Option Minimum Guaranteed Annual Effective Interest Rate for the NM Strength and Stability Account Tier One BalanceRate, shown on the Policy Schedule Pages (page 3)8), plus one percent; or • · the Xxxxx’x Corporate Bond Yield Averages-Monthly Average Corporates rate for the immediately preceding October. This Average is published by Xxxxx’x Investor’s Service, Inc. If it is no longer published, the highest loan interest rate will be based on some other similar average established by the insurance supervisory official of the state in which this Policy is issued for delivery. The Company may change the loan interest rate applied to Policy Debt (including existing Policy Debt) every January 1st. The loan interest rate may be increased if the maximum rate of interest as determined above is 0.5% or more above the then-current loan interest rate. The loan interest rate will be reduced if the maximum rate of interest as determined above is 0.5% or more below the then-current loan interest rate. The Company will give notice: • · of the initial loan interest rate in effect at the time a Policy loan is made (Section 10.19.1); and • · of a change in loan interest rate no later than 30 days before the January 1st on which the increase takes effect. This Policy will not terminate during a Policy year as the sole result of an increase in the loan interest rate during that Policy year.. UU.VULP.(1019) 26 NY

MARKET LOAN RATE AND INTEREST ACCRUAL. Loan interest accrues daily. On each Policy anniversary, any unpaid loan interest will be added to the Principal Loan Balance, which consists of outstanding loans and interest added to principal, and will also incur interest as described in this Section. The annual loan interest rate is set by the Company every January 1st. The maximum rate shall not exceed the greater of: • the Paid-up Option Minimum Guaranteed Annual Effective Interest Rate for the NM Strength and Stability Account Tier One BalanceRate, shown on the Policy Schedule Pages (page 3)8), plus one percent; or • the Xxxxx’x Mxxxx’x Corporate Bond Yield Averages-Monthly Average Corporates rate for the immediately preceding October. This Average is published by Xxxxx’x Mxxxx’x Investor’s Service, Inc. If it is no longer published, the highest loan interest rate will be based on some other similar average established by the insurance supervisory official of the state in which this Policy is issued for delivery. The Company may change the loan interest rate applied to Policy Debt (including existing Policy Debt) every January 1st. The loan interest rate may be increased if the maximum rate of interest as determined above is 0.5% or more above the then-current loan interest rate. The loan interest rate will be reduced if the maximum rate of interest as determined above is 0.5% or more below the then-current loan interest rate. The Company will give notice: • of the initial loan interest rate in effect at the time a Policy loan is made (Section 10.19.1); and • of a change in loan interest rate no later than 30 days before the January 1st on which the increase takes effect. This Policy will not terminate during a Policy year as the sole result of an increase in the loan interest rate during that Policy year.. UU.VULP.(1019) 26 NY