VARIABLE ANNUITY PAYOUT OPTIONS Clause Samples

VARIABLE ANNUITY PAYOUT OPTIONS. The following variable annuity payout options are available: (a) Option 1: Variable Life Annuity with Guaranteed Period Payouts for the guaranteed Annuity Payout Period elected or the lifetime of the Annuitant, whichever is longer. The guaranteed Annuity Payout Period elected may be 5, 10, or 15 years, or other options as made available by the Company. Upon death of the Annuitant, the Beneficiary will begin to receive the remaining payouts at the same interval elected by the Owner. See Variable Life Annuity Tables.