Phoenix Retirement Protector - Guaranteed Minimum Death Benefit

Benefit is only available in conjunction with Phoenix Retirement Protector. Upon death of annuitant, benefit will be greater of - 1) death benefit applicable under contract, or 2) Phoenix Retirement Protector - Guaranteed Minimum Death Benefit, prior to annuitant's age 86. Death benefit base is equal to initial purchase payments and will be increased by subsequent purchase payments, roll-up, and step-up and reduced for withdrawals. Issuer increases benefit base by 6.5% annually, if no withdrawals has been taken, until earlier of - 1) annuitant's age 95, or 2) 10th rider anniversary following later of - i) rider date, or ii) last step-up occurred. Issuer will reset benefit base annually, to equal to contract value, if benefit base is less than contract value, annuitant may cancel Automatic Step-Up Feature upon written request. Phoenix Retirement Protector - Guaranteed Minimum Death Benefit is not available, if Phoenix Retirement Protector is purchased after contract issue. Issuer imposes an additional charge of - 0.50% (Max - 0.50%) of greater of benefit base or contract value for Phoenix Retirement Protector - Guaranteed Minimum Death Benefit.