Standard Death Benefit

Available during accumulation phase. Upon death of owner(or annuitant if owner is a non-natural person), without election of living benefit, benefit will be greater of - 1) contract value, or 2) net purchase payments, increased by subsequent purchase payments, adjusted for withdrawals. Upon death of owner or annuitant with election of living benefit, benefit will be greater of - 1) contract value, or 2) purchase payments reduced by - a) any withdrawals if living benefit is not terminated, or b) any withdrawals prior to the date living benefit is terminated. Issuer offers Extended Legacy Program and Inherited Account Program, for beneficiaries to continue the contract after the death of the owner. There is an Extended Legacy Program, offered by issuer, for beneficiaries to continue the contract after the death of the owner. The program is not available under rollover contracts and with any other than 5-year settlement option. Upon election, beneficiary may choose to receive the death benefit under either 1) a 5-year settlement option (starting from death of owner); or 2) in the form of withdrawals for a longer period of time. Issuer will charge the beneficiary an annual base contract expense of 0.85%. This charge is deducted daily from the average daily ending net asset value allocated to the Variable Portfolios.