Standard Death Benefit

Available during accumulation phase. Upon death of owner, benefit will be greater of - 1) contract value, or 2) standard death benefit. Standard death benefit equals initial purchase payment, thereafter, adjusted for withdrawals and subsequent payments. Upon exercise of the GMIB, the existing GMDB is replaced with a Modified Death Benefit equal to the GMDB benefit base as of the effective date. The Modified Death Benefit will not increase and will be reduced by withdrawals, including on a pro rata basis for any excess withdrawals. At death, the benefit payable will be the greater of the account value or the Modified Death Benefit (as adjusted). There is no annual charge for Modified DB.