Common use of NET INVESTMENT FACTOR Clause in Contracts

NET INVESTMENT FACTOR. For each Division of the Separate Account the Net Investment Factor for the current period is one plus the net investment rate for that Division. The net investment rate for the current period is equal to the gross investment rate for the Division reduced on each Valuation Date by a Mortality and Expense Risk Charge. The charge for these risks on the Issue Date is shown on page 4. The Company may increase or decrease the charge after the Issue Date, but the Company may not increase the charges to exceed the maximum charges shown on page 4. The gross investment rate for the current period for each Division is equal to a. divided by b. where: a. is: . the investment income of the Division for the current period; plus . capital gains for the period, whether realized or unrealized, on the assets of the Division; less . capital losses for the period, whether realized or unrealized, on the assets of the Division; less . deduction for any tax liability paid or reserved for by the Company resulting from the maintenance or operation of the Division; and less . any reasonable expenses paid or reserved for by the Company which result from a substitution of other securities for shares of the Portfolio(s) as set forth in Section 2.4; and b. is the value of the assets in the Division on the immediately preceding Valuation Date. The gross investment rate may be positive or negative. The deduction for any tax liability may be charged proportionately against those contracts to which the liability is attributable by a reduction in the gross investment rate for those contracts.

NET INVESTMENT FACTOR. For each Division of the Separate Account the Net Investment Factor for the current period is one plus the net investment rate for that the Division. The net investment rate for the current period is equal to the gross investment rate for the Division reduced on each Valuation Date by a Mortality charge for annuity rate and Expense Risk Chargeexpense guarantees. The charge for these risks guarantees on the Issue Date is shown on page 4. The Company may increase or decrease the charge after the Issue Date, but the Company may not increase the charges charge to exceed the maximum charges charge shown on page 4. The gross investment rate for the current period for each Division is equal to a. divided by b. where: a. is: . - the investment income of the Division for the current period; plus . capital - captial gains for the period, whether realized or unrealized, on the assets of the Division; less . - capital losses for the period, whether realized or unrealized, on the assets of the Division; less . - deduction for any tax liability paid or reserved for by the Company resulting from the maintenance or operation of the Division; and less . - any reasonable expenses paid or reserved for by the Company which result from a substitution of other securities for shares of the Portfolio(s) as set forth in Section 2.4; 2.4 and b. is the value of the assets in the Division on the immediately preceding Valuation Date. The gross investment rate may be positive or negative. The deduction for any tax liability may be charged proportionately against those contracts to which the liability is attributable by a reduction in the gross investment rate for those contracts.

NET INVESTMENT FACTOR. For each Division of the Separate Account the Net Investment Factor for the current period is one plus the net investment rate for that the Division. The net investment rate for the current period is equal to the gross investment rate for the Division reduced on each Valuation Date by a Mortality charge for annuity rate and Expense Risk Chargeexpense guarantees. The charge for these risks guarantees on the Issue Date is shown on page 4. The Company may increase or decrease the charge after the Issue Date, but the Company may not increase the charges charge to exceed the maximum charges charge shown on page 4. The gross investment rate for the current period for each Division is equal to a. divided by b. where: a. is: . • the investment income of the Division for the current period; plus . • capital gains for the period, whether realized or unrealized, on the assets of the Division; less . • capital losses for the period, whether realized or unrealized, on the assets of the Division; less . • deduction for any tax liability paid or reserved for by the Company resulting from the maintenance or operation of the Division; and less . • any reasonable expenses paid or reserved for by the Company which result from a substitution of other securities for shares of the Portfolio(s) as set forth in Section 2.4; 2.4 and b. is the value of the assets in the Division on the immediately preceding Valuation Date. The gross investment rate may be positive or negative. The deduction for any tax liability may be charged proportionately against those contracts to which the liability is attributable by a reduction in the gross investment rate for those contracts.

NET INVESTMENT FACTOR. For each Division of the Separate Account the Net Investment lnvestment Factor for the current period is one plus the net investment rate for that Division. The net investment rate for the current period is equal to the gross investment rate for the Division reduced on each Valuation Date by a Mortality and Expense Risk Charge. The charge for these risks on the Issue Date is shown on page 4. The Company may increase or decrease the charge after the Issue lssue Date, but the Company may not increase the charges to exceed the maximum charges shown on page 4. The gross investment rate for the current period for each Division is equal to a. divided by b. where: a. is: . • the investment income of the Division for the current period; plus . • capital gains for the period, whether realized or unrealized, on the assets of the Division; less . • capital losses for the period, whether realized or unrealized, on the assets of the Division; less . • deduction for any tax liability paid or reserved for by the Company resulting from the maintenance or operation of the Division; and less . • any reasonable expenses paid or reserved for by the Company which result from a substitution of other securities for shares of the Portfolio(s) as set forth in Section 2.4; and b. is the value of the assets in the Division on the immediately preceding Valuation Date. The gross investment rate may be positive or negative. The deduction for any tax liability may be charged proportionately against those contracts to which the liability is attributable by a reduction in the gross investment rate for those contracts.. XX.X.X.XX. (1106) 7

NET INVESTMENT FACTOR. For each Division of the Separate Account the Net Investment lnvestment Factor for the current period is one plus the net investment rate for that the Division. The net investment rate for the current period is equal to the gross investment rate for the Division reduced on each Valuation Date by a Mortality charge for annuity rate and Expense Risk Chargeexpense guarantees. The the charge for these risks guarantees on the Issue Date is shown on page 4. The Company may increase or decrease the charge after the Issue issue Date, but the Company may not increase the charges charge to exceed the maximum charges charge shown on page 4. The gross investment rate for the current period for each Division is equal to a. divided by b. where: a. is: . • the investment income of the Division for the current period; plus . • capital gains for the period, whether realized or unrealized, on the assets of the Division; less . • capital losses for the period, whether realized or unrealized, on the assets of the Division; less . • deduction for any tax liability paid or reserved for by the Company resulting from the maintenance or operation of the Division; and less . • any reasonable expenses paid or reserved for by the Company which result from a substitution of other securities for shares of the Portfolio(s) as set forth in Section 2.4; 2.4 and b. is the value of the assets in the Division on the immediately preceding Valuation Date. The gross investment rate may be positive or negative. The deduction for any tax liability may be charged proportionately against those contracts to which the liability is attributable by a reduction in the gross investment rate for those contracts.