Common use of MATURITY OPTIONS Clause in Contracts

MATURITY OPTIONS. If the Annuitant is living on the Maturity Date shown on page 3, and that Maturity Date is earlier than the contract anniversary nearest the Annuitant’s 90th birthday, the Owner may elect between the following maturity options: • payment of a monthly retirement life income to the Annuitant under a payment plan chosen by the Owner; or • deferral of the maturity benefit and continuation of this contract, without any Disability Waiver of Purchase Payment Benefit, to the Optional Maturity Date. The contract will continue under this option if a written election for this purpose is received by the Company or if on the Maturity Date shown on page 3, the Owner has not chosen a payment plan. If the Annuitant is living on the Maturity Date and that Maturity Date is on or after the contract anniversary nearest the Annuitant’s 90th birthday, the Company will pay a monthly retirement life income to the Annuitant under a payment form chosen by the Owner. QQV.ACCT.B

MATURITY OPTIONS. If the Annuitant is living on the Maturity Date shown on page 3, and that Maturity Date is earlier than the contract anniversary nearest the Annuitant’s 90th birthday, the Owner may elect between the following maturity options: • payment of a monthly retirement life income to the Annuitant under a payment plan chosen by the Owner; or • deferral of the maturity benefit and continuation of this contract, without any Disability Waiver of Purchase Payment Benefit, to the Optional Maturity Date. The contract will continue under this option if a written election for this purpose is received by the Company or if on the Maturity Date shown on page 3, the Owner has not chosen a payment plan. If the Annuitant is living on the Maturity Date and that Maturity Date is on or after the contract anniversary nearest the Annuitant’s 90th birthday, the Company will pay a monthly retirement life income to the Annuitant under a payment form chosen by the Owner. QQV.ACCT.BQQV.ACCT.A