Basic Death Benefit

During accumulation phase. Upon death of owner, benefit will be greater of -1) contract value; or 2) purchase payments adjusted for withdrawals. During Income phase. Upon death of annuitant before all the guaranteed payments, benefit will depend upon income option elected. For Life Income option with guaranteed payments (single & joint life), Issuer will pay lump sum amount equal to present value of remaining guaranteed payments. For Life Income Cash refund option (single & joint life), Issuer will pay lump-sum payment equal to amount originally applied to payment option and less the total amount of fixed income phase payments paid. For Nonlifetime guaranteed payments, Issuer will pay any remaining guaranteed payments unless elected to receive the present value of the remaining guaranteed payments in a lump sum.