Flex DB Value

Benefit is only available in conjunction with with Flex GMWB Single Option with Value. Upon death of owner, benefit is greater of - 1) basic death benefit, or 2) GMWB death benefit. Basic death benefit is greater of - a) contract value, or b) total purchase payments adjusted for withdrawals. GMWB death benefit is equal to initial purchase payments adjusted for additional purchase payments made, Contract Enhancements and withdrawals. It also provides a 7th Contract Anniversary step-up to potentially increase the death benefit. The step-up percentage will be 100% at the Contract Anniversary when elected. The maximum death benefit is $10 million. Charges may increase by 0.15% annually on each 5th Contract Anniversary, and the Owner may elect to opt out of current and future charge increases by forfeiting the 7th Contract Anniversary step-up and any other increases to the GMWB Death Benefit. Upon such election, no future payments will be allowed.