Common use of VARIABLE INCOME OPTIONS Clause in Contracts

VARIABLE INCOME OPTIONS. Variable Annuity Units (a) is the variable annuity unit value for that Subaccount on the immediately preceding business day; (b) is the net investment factor for that Subaccount for the Valuation Period; and (c) is the Assumed Investment Return adjustment factor for the Valuation Period. The Assumed Investment Return adjustment factor for the valuation period is the product of discount factors of .99986634 per day to recognize the 5.0% effective annual Assumed Investment Return. The net investment factor used to calculate the value of a variable annuity unit in each Subaccount for the Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result, where: (a) is the net result of: (1) the net asset value of a fund share held in that Subaccount determined as of the end of the current valuation period; plus (2) the per share amount of any dividend or capital gain Distributions made by the fund for shares held in that Subaccount if the ex-dividend date occurs during the Valuation Period; plus or minus (3) a per share credit or charge for any taxes reserved for, which we determine to have resulted from the investment operations of the Subaccount. (b) is the net asset value of a fund share held in that Subaccount determined as of the end of the immediately preceding Valuation Period. (c) is a factor representing the Mortality and Expense Risk Fee and Administrative Charge applicable after the Annuity Commencement Date. This factor is less than or equal to, on an annual basis, the percentage shown on the Policy Data Page of the daily net asset value of a fund share held in the Separate Account for that Subaccount. The amount of the first variable payment is determined by multiplying each $1,000 of policy proceeds allocated to a variable income option by the amounts shown on pages 18 and 19 for the variable option You select. The tables are based on a 5% effective annual Assumed Investment Return and the “Annuity 2000” male, and female mortality table projected for improvement using projection scale G (50% of the female scale G factors were used, while 100% of the male scale G factors were used). The rates were projected dynamically using an assumed Annuity Commencement date of 2005. The “Annuity 2000” mortality rates are adjusted based on improvements in mortality since 2000 to more appropriately reflect increased longevity. This is accomplished using a set of improvement factors referred to as projection scale G. Option 3-V – Life Income – You may choose between: 1. No Period Certain – Payments will be made during the lifetime of the Annuitant.

VARIABLE INCOME OPTIONS. Variable Annuity Units (a) is the variable annuity unit value for that Subaccount on the immediately preceding business day; (b) is the net investment factor for that Subaccount for the Valuation Period; and (c) is the Assumed Investment Return adjustment factor for the Valuation Period. The Assumed Investment Return adjustment factor for the valuation period is the product of discount factors of .99986634 per day to recognize the 5.0% effective annual Assumed Investment Return. The net investment factor used to calculate the value of a variable annuity unit in each Subaccount for the Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result, result where: (a) is the net result of: (1) the net asset value of a fund share held in that Subaccount determined as of the end of the current valuation period; plus (2) the per share amount of any dividend or capital gain Distributions made by the fund for shares held in that Subaccount if the ex-dividend date occurs during the Valuation Period; plus or minus (3) a per share credit or charge for any taxes reserved for, which we determine to have resulted from the investment operations of the Subaccount. (b) is the net asset value of a fund share held in that Subaccount determined as of the end of the immediately preceding Valuation Period. (c) is a factor representing the Mortality and Expense Risk Fee and Administrative Charge applicable after the Annuity Commencement Date. This factor is less than or equal to, on an annual basis, the percentage shown on the Policy Data Page of the daily net asset value of a fund share held in the Separate Account for that Subaccount. AV1396 101 179 1003 Page 14 C937R The amount of the first variable payment is determined by multiplying each $1,000 of policy proceeds allocated to a variable income option by the amounts shown on pages 18 and 19 for the variable option You select. select The tables are based on a 5% effective annual Assumed Investment Return and the “Annuity 2000” male, and female mortality table projected for improvement using projection scale G (50% of the female scale G factors were used, while 100% of the male scale G factors were used). The rates were projected dynamically using an assumed Annuity Commencement date of 2005. The “Annuity 2000” mortality rates are adjusted based on improvements in mortality since 2000 to more appropriately reflect increased longevity. This is accomplished using a set of improvement factors referred to as projection scale G. Option 3-–V – Life Income – - You may choose between: 1. No Period Certain – - Payments will be made during the lifetime of the Annuitant.

VARIABLE INCOME OPTIONS. Variable Annuity Units (a) is the variable annuity unit value for that Subaccount subaccount on the immediately preceding business day; (b) is the net investment factor for that Subaccount subaccount for the Valuation Periodvaluation period; and (c) is the Assumed Investment Return assumed investment return adjustment factor for the Valuation Period. valuation period The Assumed Investment Return assumed investment return adjustment factor for the valuation period is the product of discount factors of .99986634 99986634 per day to recognize the 5.0% effective annual Assumed Investment Returnassumed investment return. The net investment factor used to calculate the value of a variable annuity unit in each Subaccount subaccount for the Valuation Period valuation period is determined by dividing (a) by (b) and subtracting (c) from the result, where: (a) is the net result of: (1) the net asset value of a fund share held in that Subaccount subaccount determined as of the end of the current valuation period; plus (2) the per share amount of any dividend or capital gain Distributions distributions made by the fund for shares held in that Subaccount subaccount if the ex-dividend date occurs during the Valuation Periodvaluation period; plus or minus (3) a per share credit or charge for any taxes reserved for, which we determine to have resulted from the investment operations of the Subaccountsubaccount. (b) is the net asset value of a fund share held in that Subaccount subaccount determined as of the end of the immediately preceding Valuation Periodvaluation period. (c) is a factor representing the Mortality mortality and Expense Risk Fee expense risk fee and Administrative Charge administrative charge applicable after the Annuity Commencement Dateannuity commencement date. This factor is less than or equal to, on an annual basis, the percentage shown on the Policy Data Page page, of the daily net asset value of a fund share held in the Separate Account separate account for that Subaccountsubaccount. The amount of the first variable payment is determined by multiplying each $1,000 of policy proceeds allocated to a variable income option by the amounts shown on pages 18 20 and 19 21 for the variable option You you select. The tables are based on a 5% effective annual Assumed Investment Return assumed investment return and the “Annuity 2000” male, male and female mortality table projected for improvement using projection scale G (50% of the female scale G factors were used, while 100% of the male scale G factors were used). The rates were xxxx projected dynamically using an assumed Annuity Commencement annuity commencement date of 2005. The “Annuity 2000” mortality rates are adjusted based on improvements in mortality since 2000 to more appropriately reflect increased longevity. This is accomplished using a set of improvement factors referred to as projection scale G. Option 3-V – Life Income – You may choose between:G. 1. (a) No Period Certain – Payments will be made during the lifetime of the Annuitantannuitant.

VARIABLE INCOME OPTIONS. Variable Annuity Units (a) is the variable annuity unit value for that Subaccount subaccount on the immediately preceding business day; (b) is the net investment factor for that Subaccount subaccount for the Valuation Period; and (c) is the Assumed Investment Return adjustment factor for the Valuation Period. The Assumed Investment Return adjustment factor for the valuation period is the product of discount factors of .99986634 per day to recognize the 5.0% effective annual Assumed Investment Return. The net investment factor used to calculate the value of a variable annuity unit in each Subaccount subaccount for the Valuation Period valuation period is determined by dividing (a) by (b) and subtracting (c) from the result, where: (a) is the net result of: (1) the net asset value of a fund share held in that Subaccount subaccount determined as of the end of the current valuation period; plus (2) the per share amount of any dividend or capital gain Distributions distributions made by the fund for shares held in that Subaccount subaccount if the ex-dividend date occurs during the Valuation Periodvaluation period; plus or minus (3) a per share credit or charge for any taxes reserved for, which we determine to have resulted from the investment operations of the Subaccountsubaccount. (b) is the net asset value of a fund share held in that Subaccount subaccount determined as of the end of the immediately preceding Valuation Periodvaluation period. (c) is a factor representing the Mortality and Expense Risk Fee and Administrative Charge applicable after the Annuity Commencement Dateannuity commencement date. This factor is less than or equal to, on an annual basis, the percentage shown on the Policy Data Page of the daily net asset value of a fund share held in the Separate Account separate account for that Subaccountsubaccount. The amount of the first variable payment is determined by multiplying each $1,000 of policy proceeds allocated to a variable income option by the amounts shown on pages 18 20 and 19 21 for the variable option You you select. The tables are based on a 5% effective annual Assumed Investment Return and the “Annuity 2000” male, male and female mortality table projected for improvement using projection scale G (50% of the female scale G factors were used, while 100% of the male scale G factors were used). The rates were projected dynamically using an assumed Annuity Commencement annuity commencement date of 2005. The “Annuity 2000” mortality rates are adjusted based on improvements in mortality since 2000 to more appropriately reflect increased longevity. This is accomplished using a set of improvement factors referred to as projection scale G. Variable Income Option 3-V – - Life Income – - You may choose between: 1. (a) No Period Certain – - Payments will be made during the lifetime of the Annuitantannuitant.

VARIABLE INCOME OPTIONS. Variable Annuity Units (a) is the variable annuity unit value for that Subaccount subaccount on the immediately preceding business day; (b) is the net investment factor for that Subaccount subaccount for the Valuation Periodvaluation period; and (c) is the Assumed Investment Return assumed investment return adjustment factor for the Valuation Periodvaluation period. The Assumed Investment Return assumed investment return adjustment factor for the valuation period is the product of daily discount factors of .99986634 per day to recognize which reflect the 5.0% effective annual Assumed Investment Returnassumed investment return shown on page 18. The net investment factor used to calculate the value of a variable annuity unit in each Subaccount subaccount for the Valuation Period valuation period is determined by dividing (a) by (b) and subtracting (c) from the result, where: (a) is the net result of: (1) the net asset value of a fund share held in that Subaccount subaccount determined as of the end of the current valuation period; plus (2) the per share amount of any dividend or capital gain Distributions distributions made by the fund for shares held in that Subaccount subaccount if the ex-–dividend date occurs during the Valuation Periodvaluation period; plus or minus (3) a per share credit or charge for any taxes reserved for, which we determine to have resulted from the investment operations of the Subaccountsubaccount. (b) is the net asset value of a fund share held in that Subaccount subaccount determined as of the end of the immediately preceding Valuation Periodvaluation period. (c) is a factor representing the Mortality mortality and Expense Risk Fee expense risk fee and Administrative Charge administrative charge applicable after the Annuity Commencement Dateannuity commencement date. This factor is less than or equal to, on an annual basis, the percentage shown on the Policy Data Page page, of the daily net asset value of a fund share held in the Separate Account separate account for that Subaccountsubaccount. The amount of the first variable payment is determined by multiplying each $1,000 of policy proceeds value allocated to a variable income option by the amounts shown on pages 18 and 19 the variable income option table for the variable income option You you select. The tables are based on a 5% the effective annual Assumed Investment Return assumed investment return shown on page 18 and the “Annuity 2000” (male, female, and female unisex if required by law) mortality table projected for improvement using projection scale G (50% of the female scale G factors were used, while 100% of the male scale G factors were used). The rates were projected dynamically using an assumed Annuity Commencement date of 2005. The “Annuity 2000” mortality rates are adjusted based on improvements in mortality since 2000 to more appropriately reflect increased longevity. This is accomplished using a set of improvement factors referred to as projection scale G. Option 3-V – Life Income – You may choose between: 1. (a) No Period Certain – Payments –We will be made make payments during the lifetime of the Annuitantannuitant.

VARIABLE INCOME OPTIONS. Variable Annuity Units (a) is the variable annuity unit value for that Subaccount subaccount on the immediately preceding business day; (b) is the net investment factor for that Subaccount subaccount for the Valuation Period; and (c) is the Assumed Investment Return adjustment factor for the Valuation Period. The Assumed Investment Return adjustment factor for the valuation period is the product of discount factors of .99986634 per day to recognize the 5.0% effective annual Assumed Investment Return. The net investment factor used to calculate the value of a variable annuity unit in each Subaccount subaccount for the Valuation Period valuation period is determined by dividing (a) by (b) and subtracting (c) from the result, result where: (a) is the net result of: (1) the net asset value of a fund share held in that Subaccount subaccount determined as of the end of the current valuation period; plus (2) the per share amount of any dividend or capital gain Distributions distributions made by the fund for shares held in that Subaccount subaccount if the ex-dividend date occurs during the Valuation Periodvaluation period; plus or minus (3) a per share credit or charge for any taxes reserved for, which we determine to have resulted from the investment operations of the Subaccountsubaccount. (b) is the net asset value of a fund share held in that Subaccount subaccount determined as of the end of the immediately preceding Valuation Periodvaluation period. (c) is a factor representing the Mortality and Expense Risk Fee and Administrative Charge applicable after the Annuity Commencement Dateannuity commencement date. This factor is less than or equal to, on an annual basis, the percentage shown on the Policy Data Page of the daily net asset value of a fund share held in the Separate Account separate account for that Subaccountsubaccount. The amount of the first variable payment is determined by multiplying each $1,000 of policy proceeds allocated to a variable income option by the amounts shown on pages 18 20 and 19 21 for the variable option You you select. The tables are based on a 5% effective annual Assumed Investment Return and the “Annuity 2000” male, male and female mortality table projected for improvement using projection scale G (50% of the female scale G factors were used, while 100% of the male scale G factors were used). The rates were projected dynamically using an assumed Annuity Commencement annuity commencement date of 2005. The “Annuity 2000” mortality rates are adjusted based on improvements in mortality since 2000 to more appropriately reflect increased longevity. This is accomplished using a set of improvement factors referred to as projection scale G. Variable Income Option 3-V – - Life Income – - You may choose between: 1. (a) No Period Certain – - Payments will be made during the lifetime of the Annuitant.annuitant