ENDORSEMENT
The contract is changed by adding a new provision as follows:
SUCCESSOR OWNER STEP UP IN ACCOUNT VALUE
If your spouse becomes the Successor Owner of this Contract, the Account
Value of the Contract will be increased, as of the date that would have been
the Death Benefit Valuation Date, to equal the amount of the Death Benefit
which would have been payable if your spouse had not become the Successor
Owner of the Contract. If the Death Benefit which would have been payable is
equal to the Account Value as of the date that would have been the Death
Benefit Valuation Date, there will be no change in the Account Value of the
Contract.
For purposes of determining the date that would have been the Death Benefit
Valuation Date, the election to become Successor Owner will be deemed to be
instructions as to the form of death benefit. Therefore, the date that would
have been the Death Benefit Valuation Date will be the later of the date we
receive Due Proof of Death of the owner, or the date we receive a Successor
Owner election, but never later than one year after the date of death of the
owner.
If your spouse becomes the Successor Owner of this Contract, any Contingent
Deferred Sales Charge which would otherwise apply on surrender will be
waived, except that if any additional Purchase Payments are paid by the
Successor Owner, Contingent Deferred Sales Charges will apply as described in
this Contract.
If the Account Value is stepped-up under this provision, the Company will
deposit the amount of the increase into the Fixed Accumulation Account
Option. The Successor Owner may make one transfer of all or part of the
amount deposited from the Fixed Accumulation Account to any other Fixed
Account option(s) and/or Sub-Account(s), without such transfer being treated
as a transfer for any other purpose under this Contract.
This is part of your contract. It is not a separate contract. It changes
the policy only as and to the extent stated. In all cases of conflict with
the other terms of the contract, the provisions of this Endorsement shall
control.
Signed for us at our office as of the date of issue.
