Death Benefit

Available at accumulation phase. Upon the annuitant's death, the death benefit value will be the greater of policy value or the accumulation value. The policy value is the premium invested in the contract till date, adjusted for 1) any applicable policy value load percentage (currently 12.5%) multiplied by the premium invested to date, 2) any applicable withdrawal amount after withdrawal charges, 3) daily interest credited at the policy value interest rate (1%). Additionally, the accumulation value equals to the premium invested to date interest plus any interest credited in the DCA account or in any interest crediting strategy account. However, upon death of owner or joint owner, death benefit equals the cash value calculated to date. The cash value calculated is the greater of 1) policy value, or 2) accumulation value adjusted for any applicable withdrawal charges upon withdrawal of entire accumulation value. Moreover, such cash value will be further adjusted for any applicable state taxes.