EDB Max III

Available during accumulation phase. Upon death of owner, benefit will be greater of - 1) contract value or 2) Death benefit base. Death benefit base is greater of - 1) highest anniversary value or 2) annual increase amount. Highest anniversary value equals highest contract value on any contract anniversary prior to owner's 81st birthday adjusted proportionately for withdrawals and increased by purchase payments made. Annual increment amount equals initial purchase payment plus additional purchase payments made within 120 days increased for 5% annual increase rate prior to owner's 91st birthday adjusted for withdrawals. Each contract year, owner may withdraw up to 5% of Annual Increase Amount, and Annual Increase Amount will be reduced by dollar amount withdrawn. If in any contract year cumulative withdrawals exceed Annual Increase Rate multiplied by Annual Increase Amount at the beginning of contract year, the Annual Increase Amount will be reduced in same proportion that entire withdrawal reduced contract value. Owner may elect either one time optional step-up or automatic annual step-up, to reset guaranteed amount equal to contract value until age 80, automatic annual step-up will continue until 7th anniversary, owner may re-elect this option. Owner must select an Asset Allocation Program.