Highest Quarterly Anniversary Value Death Benefit

During accumulation phase, upon death of owner, benefit will be greatest of - 1) contract value or 2) GMDB benefit base - which is highest contract quarterly anniversary value adjusted for subsequent premiums and withdrawals, determined from rider effective date to contract quarterly anniversary immediately preceding owner's 81st birthday. Charges may increase by 0.05% annually on each 5th contract anniversary and the owner may elect to opt out of the current and future charges increases by forfeiting the highest quarterly anniversary value provision and any future increases to the GMDB benefit base. Upon such election, no future payments will be allowed. During income phase, payments under this benefit are available, provided, income payments are initiated at the latest income date. Death benefit amount is then equal to the GMDB Benefit Base as on the latest income date, reduced by the contract value on the latest income date. If owner is not dead as of the final annuity payment date, the death benefit amount will be paid in lump sum along with the final annuity payment.