Legacy Income Option - Income Benefit Rider

The rider allows for a withdrawal of up to 5% of the account value or RMDs (whichever is greater) and the rider death benefit base to remain at initial purchase payment. The rider death benefit is available upon the insured’s death after the first contract anniversary. The amount of the death benefit depends on whether a lump sum is chosen or payments over a period of at least five years, in which case the death benefit equals the benefit base annuitized at 1% over the selected period of years. Immediate payout equals the account value, plus 50% of any amount by which the rider death benefit base exceeds the account value. The full death benefit base cannot be paid as a lump sum. The death benefit base is generally equal to all purchase payments received during the first contract year, does not increase, but will be reduced by any withdrawal unless it is a protected withdrawal, or a withdrawal to pay rider charges. To qualify as a protected withdrawal, the withdrawal must not exceed the protected withdrawal amount, and must occur within the protected withdrawal period. For any contract year, the protected withdrawal amount is the greater of 5% of the account value on the most recent contract anniversary or any required minimum distribution for the calendar year in which the current contract year began. The protected withdrawal period ends after 10 years in which one or more protected withdrawals were taken or, if earlier, when the insured reaches age 85. The rider will terminate under the following circumstances: Upon complete payment of the death benefit under the rider; If the contract is surrendered or annuitized; If an excess withdrawal reduces the death benefit base to less than $1,250; or if a withdrawal (including those to pay rider charges) reduces the contract account value to less than $1,250.