Enhanced Guaranteed Partial Withdrawal Benefit

Enhanced Guaranteed Partial Withdrawal Benefit is part of Enhanced GBP. The GPWBs provide a guaranteed minimum amount of level income in the form of annual partial withdrawals (GPWB Payments). GPWB Payments are not guaranteed for life.,The GPWB value under the Enhanced GBP will never be less than the GPWB value under the Traditional GBP, but they may be equal. Owner can only access the GPWB value by exercising the GPWB.

Once the GPWB is exercised, it cannot be cancelled. However, owner can terminate the GPWB by electing to stop GPWB payments and instead do one of the following: 1) take an Excess Withdrawal of the entire Contract Value, 2) Request Traditional Annuity Payments under a Full Annuitization based on the entire Contract Value, 3) Request Annuity Payments under a Full Annuitization based on the remaining GPWB value. If owner does not elect to stop GPWB Payments and elect to annuitize the contract, and there is Contract Value remaining after the last GPWB Payment is made Issuer will pay the Contract Value if it is less than $2,000 (less any withdrawal charges) and Contract will terminate. However, if remaining Contract Value after the last GPWB Payment is at least $2,000, owner can instead elect to: continue the Contract, or annuitize the remaining Contract Value.