Common use of PROTECTION OF PROCEEDS Clause in Contracts

PROTECTION OF PROCEEDS. Unless You so direct by filing written notice with us, no beneficiary may assign any payments under this contract before the same are due. To the extent permitted by law, no payments under this contract will be subject to the claims of creditors of any beneficiary. DEFERMENT We will pay any Partial Withdrawals or Surrender proceeds from the Separate Account within 7 days after we receive all requirements that we need. However, it may happen that the New York Stock Exchange is closed for trading (other than the usual weekend or holiday closings), or the Securities and Exchange Commission restricts trading or determines that an emergency exists. If so, it may not be practical for us to determine the investment experience of the Separate Account. In that case, we may defer transfers among the Subaccounts and to the Fixed Account, and determination or payment of Partial Withdrawals or Surrender proceeds. When permitted by law, we may defer paying any Partial Withdrawals or Surrender proceeds from the Fixed Account for up to 6 months from the date we receive Your request. If the owner dies after the request is received, but before the request is processed, the request will be processed before the death proceeds are determined. Interest will be paid on any amount deferred for 30 days or more. This rate will be the Fixed Account Guaranteed Minimum Effective Annual Interest Rate shown on Page 3, unless otherwise required by law. REPORTS TO OWNER We will give You an annual report at least once each Contract Year. This report will show the number and value of the accumulation units held in each of the Subaccounts as well as the value of the Fixed Account. It will also give You the Death Benefit, Cash Value, and any other facts required by law or regulation. Home Office: Transamerica Occidental Life Transamerica 0000 Xxxxxxxx Xxxx XX +Insurance Company [LOGO] Occicental Life Cedar Rapids, IA 52499 A Stock Company INDEX Page

PROTECTION OF PROCEEDS. Unless You you so direct by filing written notice with us, no beneficiary may assign any payments under this contract policy before the same are due. To the extent permitted by law, no payments under this contract policy will be subject to the claims of creditors of any beneficiary. DEFERMENT We will pay any Partial Withdrawals partial withdrawals or Surrender surrender proceeds from the Separate Account separate account within 7 days after we receive all requirements that we needhave been met. However, it may happen that the New York Stock Exchange is closed for trading (other than the usual weekend or holiday closings), or the Securities and Exchange Commission restricts trading or determines that an emergency exists. If so, it may not be practical for us to determine the investment experience of the Separate Accountseparate account. In that case, we may defer transfers among the Subaccounts subaccounts and to the Fixed Accountfixed account, and determination or payment of Partial Withdrawals partial withdrawals or Surrender surrender proceeds. When permitted by law, we may defer paying any Partial Withdrawals partial withdrawals or Surrender surrender proceeds from the Fixed Account fixed account for up to 6 months from the date we receive Your your request. If payment of the partial withdrawal or full surrender is not made within 10 business days of our receipt of the request, we will pay interest on that amount from the date of receipt to the date of payment, at a current interest rate determined by the company’s interest rate setting committee, subject to the minimum rate of 1.00% as approved by the company’s Board of Directors. If the owner dies after the request is received, but before the request is processed, the request will be processed before the death proceeds are determined. Interest will be paid on any amount deferred for 30 days or more. This rate will be the Fixed Account Guaranteed Minimum Effective Annual Interest Rate shown on Page 3, unless otherwise required by law. REPORTS TO OWNER We will give You an annual report at least once each Contract Year. This report will show the number and value of the accumulation units held in each of the Subaccounts as well as the value of the Fixed Account. It will also give You the Death Benefit, Cash Value, and any other facts required by law or regulation. Home Office: Transamerica Occidental Life Transamerica 0000 Xxxxxxxx Xxxx XX +Insurance Company [LOGO] Occicental Life Cedar Rapids, IA 52499 A Stock Company INDEX Page.

PROTECTION OF PROCEEDS. Unless You so direct by filing written notice with us, no beneficiary may assign any payments under this contract policy before the same are due. To the extent permitted by law, no payments under this contract policy will be subject to the claims of creditors of any beneficiary. DEFERMENT We will pay any Partial partial Withdrawals or Surrender proceeds from the Separate Account within 7 days after we receive all requirements that we need. However, it may happen that the New York Stock Exchange is closed for trading (other than the usual weekend or holiday closings), or the Securities and Exchange Commission restricts trading or determines that an emergency exists. If so, it may not be practical for us to determine the investment experience of the Separate Account. In that case, we may defer transfers among the Subaccounts and to the Fixed Account, and determination or payment of Partial partial Withdrawals or Surrender proceeds, until such time as is practical. When permitted by law, we We may defer paying any Partial partial Withdrawals or Surrender proceeds from the Fixed Account for up to 6 months from the date we receive Your request. If payment of the owner partial Withdrawal or full Surrender is not made within 10 business days of our receipt of the request, we will pay interest on that amount from the date of receipt of the request to the date of payment, at an annual interest rate of 1.5%, or the guaranteed annual rate used for calculating settlement options, whichever is greater. If the Owner dies after the request is received, but before the request is processed, the request will be processed before the death proceeds are determined. Interest will be paid on any amount deferred for 30 days or more. This rate will be the Fixed Account Guaranteed Minimum Effective Annual Interest Rate shown on Page 3, unless otherwise required by law. REPORTS TO OWNER We will give You an annual report at least once each Contract Year. This report will show the number and value of the accumulation units held in each of the Subaccounts as well as the value of the Fixed Account. It will also give You the Death Benefit, Cash Value, and any other facts required by law or regulation. Home Office: Transamerica Occidental Life Transamerica 0000 Xxxxxxxx Xxxx XX +Insurance Company [LOGO] Occicental Life Cedar Rapids, IA 52499 A Stock Company INDEX Page.

PROTECTION OF PROCEEDS. Unless You so direct by filing written notice with us, no beneficiary may assign any payments under this contract policy before the same are due. To the extent permitted by law, no payments under this contract policy will be subject to the claims of creditors of any beneficiary. DEFERMENT We will pay any Partial partial Withdrawals or Surrender proceeds from the Separate Account within 7 days after we receive all requirements that we need. need However, it may happen that the New York Stock Exchange is closed for trading (other than the usual weekend or holiday closings), or the Securities and Exchange Commission restricts trading or determines that an emergency exists. If so, it may not be practical for us to determine the investment experience of the Separate Account. Account In that case, we may defer transfers among the Subaccounts and to the Fixed Account, and determination or payment of Partial partial Withdrawals or Surrender proceeds, until such time as is practical. When permitted by law, we We may defer paying any Partial partial Withdrawals or Surrender proceeds from the Fixed Account for up to 6 months from the date we receive Your requestrequest If payment of the partial Withdrawal or full Surrender is not made within 10 business days of our receipt of the request we will pay interest on that amount from the date of receipt of the request to the date of payment, at an annual interest rate of 1.5%, or the guaranteed annual rate used for calculating settlement options, whichever is greater. If the owner Owner dies after the request is received, but before the request is processed, the request will be processed before the death proceeds are determined. Interest will be paid on any amount deferred for 30 days or more. This rate will be the Fixed Account Guaranteed Minimum Effective Annual Interest Rate shown on Page 3, unless otherwise required by law. REPORTS TO OWNER We will give You an annual report at least once each Contract Year. This report will show the number and value of the accumulation units held in each of the Subaccounts as well as the value of the Fixed Account. It will also give You the Death Benefit, Cash Value, and any other facts required by law or regulation. Home Office: Transamerica Occidental Life Transamerica 0000 Xxxxxxxx Xxxx XX +Insurance Company [LOGO] Occicental Life Cedar Rapids, IA 52499 A Stock Company INDEX Page.