Common use of VALUE OF EACH VARIABLE ANNUITY UNIT Clause in Contracts

VALUE OF EACH VARIABLE ANNUITY UNIT. The value of an Annuity Unit may increase or decrease from one month to the next. For any month, the value of an Annuity Unit of a particular Variable Portfolio is the value of that Annuity Unit as of the last NYSE business day of the preceding month, multiplied by the Net Investment Factor for that Variable Portfolio for the last NYSE business day of the current month. The Net Investment Factor for any Variable Portfolio for a certain month is determined by dividing (1) by (2) and multiplying by (3) where: (1) is the Annuity Unit Value of the Variable Portfolio determined as of the last business day at the end of that month, (2) is the Annuity Unit Value of the Variable Portfolio determined as of the last business day at the end of the preceding month., and (3) is a factor that neutralizes the assumed investment rate of 3.5% per annum upon which the annuity payment tables are based. The monthly factor that neutralizes the assumed investment rate of 3.5% per annum is: 1/1.035(1/12)=0.

VALUE OF EACH VARIABLE ANNUITY UNIT. The value of an Annuity Unit may increase or decrease from one month to the next. For any month, the value of an Annuity Unit of a particular Variable Portfolio is the value of that Annuity Unit as of the last NYSE business day of the preceding month, multiplied by the Net Investment Factor for that Variable Portfolio for the last NYSE business day of the current month. The Net Investment Factor for any Variable Portfolio for a certain month is determined by dividing (1) by (2) and multiplying by (3) where: : (1) is the Annuity Unit Value of the Variable Portfolio determined as of the last business day at the end of that month, , and (2) is the Annuity Unit Value of the Variable Portfolio determined as of the last business day at the end of the preceding month., and . (3) is a factor that neutralizes the assumed investment rate of 3.5% per annum upon which the annuity payment tables are based. The monthly factor that neutralizes the assumed investment rate of 3.5% per annum is: 1/1.035(1/12)=0{1/[1.035(1/12)]=0.99713732}.

VALUE OF EACH VARIABLE ANNUITY UNIT. The value of an Annuity Unit may increase or decrease from one month to the next. For any month, the value of an Annuity Unit of a particular Variable Portfolio is the value of that Annuity Unit as of the last NYSE business day of the preceding month, multiplied by the Net Investment Factor for that Variable Portfolio for the last NYSE business day of the current month. The Net Investment Factor for any Variable Portfolio for a certain month is determined by dividing (1) by (2) and multiplying by (3) where: (1) is the Annuity Unit Value of the Variable Portfolio determined as of the last business day at the end of that month, (2) is the Annuity Unit Value of the Variable Portfolio determined as of the last business day at the end of the preceding month., and (3) is a factor that neutralizes the assumed investment rate of 3.5% per annum upon which the annuity payment tables are based. The monthly factor that neutralizes the assumed investment rate of 3.5% per annum is: 1/1.035(1/12)=0[1/[1.035/(1/12)/]=0.99713732].