Common use of Variable Account Clause in Contracts

Variable Account. The benefits under this Contract are provided through the Variable Account, designated on the Contract Specifications, which is established as a separate account under Indiana insurance law and registered with the Securities and Exchange Commission as a unit investment trust under the Investment Company Act of 1940, as amended. We own the assets in the Variable Account. The Variable Account will not be charged with the liabilities arising out of any other business We may conduct. The income, gains and losses, both realized and unrealized, from the assets of the Variable Account shall be credited to or charged against the Variable Account without regard to Our other income, gains or losses. The value of the Variable Account, at any time prior to the Annuity Commencement Date, is equal to the sum of the values allocated to the Variable Subaccounts. We reserve the right to eliminate the shares of any Fund and substitute the securities of a different Fund or investment company or mutual fund. Such elimination and substitution may occur if the shares of a Fund are no longer available for investment or, if in Our judgment, further investment in any Fund should become inappropriate in view of the purposes of this Contract. We may close any Variable Subaccount to new Purchase Payments, Transfers of Contract Value or both. We may add new Variable Subaccounts in which the assets of the Variable Account may be invested. We will give the Owner Notice of the elimination and substitution of any Fund as required by law.

Variable Account. The benefits under this Contract are provided through the Variable Account, designated on the Contract Specifications, which is established as a separate account under Indiana insurance law and registered with the Securities and Exchange Commission as a unit investment trust under the Investment Company Act of 1940, as amended. We own the assets in the Variable Account. The Variable Account will not be charged with the liabilities arising out of any other business We may conduct. The income, gains and losses, both realized and unrealized, from the assets of the Variable Account shall be credited to or charged against the Variable Account without regard to Our other income, gains or losses. The value of the Variable Account, at any time prior to the Annuity Commencement Date, is equal to the sum of the values allocated to the Variable Subaccounts. We reserve the right to eliminate the shares of any Fund and substitute the securities of a different Fund or investment company or mutual fund. Such elimination and substitution may occur if the shares of a Fund are no longer available for investment or, if in Our judgment, further investment in any Fund should become inappropriate in view of the purposes of this Contract. We may close any Variable Subaccount to new Purchase Payments, Transfers transfers of Contract Value or bothValue. We may add new Variable Subaccounts in which the assets of the Variable Account may be invested. We will give the Owner Notice of the elimination and substitution of any Fund as required by law.