Common use of MULTI-YEAR GUARANTEED INTEREST FUNDS Clause in Contracts

MULTI-YEAR GUARANTEED INTEREST FUNDS. No amount less than the Minimum Purchase Payment or Transfer into Multi-Year Guaranteed Interest Fund, as shown on Page 4, may be applied without prior consent of the Company. No amount may be applied to a Multi-Year Guaranteed Interest Fund if the Company is not offering a Guaranteed Period that would end on or before the Maturity Date. If an amount has been applied to a Multi-Year Guaranteed Interest Fund, no additional amounts may be applied to a Multi-Year Guaranteed Interest Fund without prior consent of the Company. The Company reserves the right to add or eliminate Multi-Year Guaranteed Interest Funds for subsequent Purchase Payments, transfers or upon expiration of a Guaranteed Period. Transfers of Accumulation Value from a Multi-Year Guaranteed Interest Fund will not be allowed during that fund’s Transaction Limitation Period as shown on Page 4. Notwithstanding the transfer restrictions in Section 3.3, upon the expiration of a Guaranteed Period for a Multi-Year Guaranteed Interest Fund, the Accumulation Value of that Multi-Year Guaranteed Interest Fund will be allocated to an Investment Account selected by the Owner. If no Investment Account is selected, the Accumulation Value of that Multi-Year Guaranteed Interest Fund will be allocated 100% to the Money Market Division. This transfer shall not be considered a transfer for purposes of the transfer restrictions in Section 3.3.

MULTI-YEAR GUARANTEED INTEREST FUNDS. No amount less than the Minimum Purchase Payment or Transfer into Multi-Year Guaranteed Interest Fund, as shown on Page page 4, may be applied without prior consent of the Company. No amount may be applied to a Multi-Year Guaranteed Interest Fund if the Company is not offering a Guaranteed Period that would end on or before the Maturity Date. If an amount has been applied to a Multi-Year Guaranteed Interest Fund, no additional amounts may be applied to a Multi-Year Guaranteed Interest Fund without prior consent of the Company. The Company reserves the right to add or eliminate Multi-Year Guaranteed Interest Funds for subsequent Purchase Payments, transfers or upon expiration of a Guaranteed Period. Transfers of Accumulation Value from a Multi-Year Guaranteed Interest Fund will not be allowed during that fund’s Transaction Limitation Period as shown on Page page 4. Withdrawals from a Multi-Year Guaranteed Interest Fund may not be paid under a variable Installment Income Payment Plan (Option B) during that fund’s Transaction Limitation Period as shown on page 4. Notwithstanding the transfer restrictions in Section 3.3, upon the expiration of a Guaranteed Period for a Multi-Year Guaranteed Interest Fund, the Accumulation Value of that Multi-Year Guaranteed Interest Fund will be allocated to an Investment Account selected by the Owner. If no Investment Account is selected, the Accumulation Value of that Multi-Year Guaranteed Interest Fund will be allocated 100% to the Money Market Division. This transfer shall not be considered a transfer for purposes of the transfer restrictions in Section 3.3.