Annual Step-Up Death Benefit

Available during accumulation phase. Upon death of owner or annuitant, benefit will be greatest of - 1) contract value, 2) total purchase payments adjusted for withdrawals, or 3) annual step-up amount. Annual Step-up Amount is equal to highest contract value calculated on any contract anniversary, prior to owner's age 80, increased by purchase payments made and reduced by withdrawals. Benefit will be greater of - 1) contract value, or 2) total purchase payments adjusted for withdrawals, upon death of owner who is not annuitant.