Guaranteed Lifetime Withdrawal Benefit

The GLWB rider provides a withdrawal benefit that guarantees a series of annualized withdrawals from the policy, regardless of the policy value, until death or the death of the last surviving covered person.,Benefit phases are defined as: Inactive Phase - Period of time when rider is inactive. Owner chooses when to end inactive phase, but it cannot end before age 50 (age 60 in state NY). Accumulation phase - Period of time between rider activation date and first date of withdrawal phase. Withdrawal phase - Period of time beginning with occurrence of first withdrawal. Guaranteed phase - Period of time during which lifetime withdrawal benefit amount payments continue to be made, although policy value has been reduced to zero. If withdrawal (including an RMD) reduces policy value to zero and at least one covered person is still living: monthly rider charge will no longer be deducted; LWBA will be provided until death of last surviving covered person under series of pre-authorized withdrawals according to frequency selected by Owner, but no less frequently than annually; no additional step-ups will occur; any remaining balance will not be available for payment in a lump sum and may not be applied to provide payments under an annuity option; and policy and any other riders will cease to provide any death benefits. Rider may be issued in its inactive phase for any issue age 0 - 85 and may be issued in an active status when Owner is age 49 years, six months and one day (attained age 50) through age 85 years, 6 months (attained age 85). Active status riders will be either in accumulation phase or withdrawal phase. Upon death of last covered person, if policy is in withdrawal phase, beneficiary will select to receive either death benefit as provided by policy and other riders, as applicable, or distribution of remaining balance accomplished through payment of LWBA until such time that remaining balance is zero. During inactive phase - no charges for rider will be deducted from policy value, no restrictions are imposed on withdrawals other than those provided by base contract, no restrictions are imposed on asset allocations.