Annual Step-Up Death Benefit

Available during accumulation phase. Upon death of owner or annuitant, benefit will be greatest of -1) contract value, 2) purchase payments adjusted for withdrawals, or 3) step-up value. Step-up value initially equals initial purchase payment adjusted for withdrawals, thereafter on any anniversary prior to annuitant's 80th birthday, will be recalculated and set equal to greater of step-up value prior to recalculation or contract value on recalculation date.