Maximum Anniversary Value Death Benefit

Available during the accumulation phase. Upon the death of an owner (without living benefit), the benefit will be greatest of -1) contract value, 2) net purchase payments, increased by subsequent purchase payments, adjusted for withdrawals (includes advisory fees; if applicable), or 3) highest contract value on any contract anniversary prior to owner's 83rd birthday or death. Upon death of owner (with living benefit), benefit will be greatest of -1) contract value, 2) purchase payments reduced by - a) any withdrawal adjustments if living benefit is not terminated, or b) any withdrawals prior to the date living benefit is terminated, or 3) highest contract value on any contract anniversary prior to owner's 83rd birthday or death reduced by - a) any Withdrawal Adjustments since contract anniversary if living benefit is not terminated, b) any withdrawal adjustments since contract anniversary, prior to the date the Living Benefit is terminated and reduced for a withdrawals in the same proportion that the withdrawal reduced the contract value on the date of such withdrawal on or after the date the living benefit is terminated and The Maximum Anniversary Value death benefit can only be elected prior to annuitants 81st birthday.