Common use of Allocation of Purchase Payments Clause in Contracts

Allocation of Purchase Payments. The allocation of Purchase Payments is made in accordance with your selection made at the Issue Date. Unless you elect otherwise, subsequent Purchase Payments will be allocated in accordance with your initial selection. Allocation of the Purchase Payments is subject to the Allocation Requirements set forth on the Contract Schedule. If there are Joint Owners, unless we are instructed to the contrary, allocation instructions will be accepted from either one of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your Account Value for any Business Day is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth on the Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Schedule and consists of assets, which are kept separate from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value to the additional Investment Option(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine the number of Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plus

Allocation of Purchase Payments. The allocation of Purchase Payments is made in accordance with your selection made at the Issue Date. Unless you elect otherwise, subsequent Purchase Payments will be allocated in accordance with your initial selection. Allocation of the Purchase Payments is subject to the Allocation Requirements set forth on the Contract Schedule. If there are Joint Owners, unless we are instructed to the contrary, allocation instructions will be accepted from either one of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your Account Value for any Business Day is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth on the Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Schedule and consists of assets, which are kept separate from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value to the additional Investment Option(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine the number of Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plusplus 6010(02/02) 6

Allocation of Purchase Payments. The allocation of Purchase Payments is made in accordance with your selection made at On the Issue Date. Unless you elect otherwise, subsequent we allocate Purchase Payments will be allocated in accordance with your initial selection. Allocation to one or more of the Variable Options according to your future allocation instructions. If the Issue Date is the Index Effective Date, we also allocate Purchase Payments is subject to one or more of the Index Options according to your Index Effective Date allocation instructions. Any Purchase Payment that we receive before the Index Effective Date that you want allocated to an Index Option, we place in the Money Market Variable Option. On the Index Effective Date, we rebalance your Contract Value among your selected Allocation Options according to your Index Effective Date allocation instructions. After the Index Effective Date, we allocate Purchase Payments to one or more of the Variable Options according to your future allocation instructions. Your future allocation instructions and Index Effective Date allocation instructions must comply with the Allocation Requirements set forth Guidelines shown on the Contract ScheduleSchedules. If there are Joint OwnersHowever, unless we are instructed may allocate the Initial Purchase Payment to the contrary, allocation instructions will be accepted from either one Money Market Variable Option until the end of the Joint OwnersRight to Examine period. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your L40538 6 Variable Account Value for any Business Day The Variable Account is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth shown on the Variable Options Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Schedule and It consists of assets, which are assets we have set aside and have kept separate from the rest of our General Account assets and all those of our other segregated asset separate accounts. The assets of the Separate Variable Account, equal to reserves and other liabilities of your Contract this contract and those of all other owners who have an interest in contracts issued through the Separate Variable Account, will not be charged with liabilities arising out of any other business we may doconduct. The Separate Variable Account assets are divided into Subaccountssubaccounts corresponding to the Variable Options you select. Contract Value How the Variable Account Value increases and decreases The assets Variable Account Value increases and decreases based on Purchase Payments, Transfers, Withdrawals, the deduction of each Subaccount are allocated contract fees and charges, and the investment performance of the Variable Options you select. We place Purchase Payments you allocate to an Investment the Variable Options into subaccounts of the Variable Account. Each subaccount invests exclusively in one Variable Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value to the additional Investment Option(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- use Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account each subaccount as a result of Purchase Payments, withdrawalsWithdrawals, transfersTransfers, or the deduction of contract and rider fees and charges. We will determine the Variable Account Value by multiplying the number of subaccount Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial subaccount’s Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plusthen adding these results together.

Allocation of Purchase Payments. The allocation of Purchase Payments is made in accordance with your each Owner's selection made at the Issue Certificate Date. Unless you elect an Owner elects otherwise, subsequent Purchase Payments will be allocated in accordance with your each Owner's initial selection. Allocation of the Purchase Payments is subject to the Allocation Requirements set forth on the Contract Scheduleand Certificate Schedule Pages. If there are Joint Owners, unless we are instructed to the contrary, allocation instructions will be accepted from either one of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your An Owner's Account Value for any Business Day is the sum of your interests each Owner's interest in the Subaccounts of the Separate Account as of such Business Day. The portion of your each Owner's Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract Owner's Account for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your each Owner's Account Value as set forth on the Contract Scheduleand Certificate Schedule Pages. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract and Certificate Schedule Pages and consists of assets, which are kept separate from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract each Owner's Account and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You An Owner may be permitted to transfer all or a portion of your their Account Value to the additional Investment Option(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this the Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your an Owner's Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine the number of Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plus

Allocation of Purchase Payments. The allocation of Purchase Payments is made in accordance with your selection made at On the Issue Date. Unless you elect otherwise, subsequent we allocate Purchase Payments will be allocated in accordance with your initial selection. Allocation to one or more of the Variable Options according to your future allocation instructions. If the Issue Date is the Index Effective Date, we also allocate Purchase Payments is subject to one or more of the Index Options according to your Index Effective Date allocation instructions. Any Purchase Payment that we receive before the Index Effective Date that you want allocated to an Index Option, we place in the Money Market Variable Option. On the Index Effective Date, we rebalance your Contract Value among your selected Allocation Options according to your Index Effective Date allocation instructions. After the Index Effective Date, we allocate Purchase Payments to one or more of the Variable Options according to your future allocation instructions. Your future allocation instructions and Index Effective Date allocation instructions must comply with the Allocation Requirements set forth Guidelines shown on the Contract ScheduleSchedules. If there are Joint OwnersHowever, unless we are instructed may allocate the Initial Purchase Payment to the contrary, allocation instructions will be accepted from either one Money Market Variable Option until the end of the Joint OwnersRight to Examine period. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your L40538-NF 6 Variable Account Value for any Business Day The Variable Account is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth shown on the Variable Options Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Schedule and It consists of assets, which are assets we have set aside and have kept separate from the rest of our General Account assets and all those of our other segregated asset separate accounts. The assets of the Separate Variable Account, equal to reserves and other liabilities of your Contract this contract and those of all other owners who have an interest in contracts issued through the Separate Variable Account, will not be charged with liabilities arising out of any other business we may doconduct. The Separate Variable Account assets are divided into Subaccountssubaccounts corresponding to the Variable Options. Contract Value How the Variable Account Value increases and decreases The assets Variable Account Value increases and decreases based on Purchase Payments, Transfers, Withdrawals, the deduction of each Subaccount are allocated contract fees and charges, and the investment performance of the Variable Options you select. We place Purchase Payments you allocate to an Investment the Variable Options into subaccounts of the Variable Account. Each subaccount invests exclusively in one Variable Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value to the additional Investment Option(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- use Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account each subaccount as a result of Purchase Payments, withdrawalsWithdrawals, transfersTransfers, or the deduction of contract and rider fees and charges. We will determine the Variable Account Value by multiplying the number of subaccount Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial subaccount's Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plusthen adding these results together.

Allocation of Purchase Payments. The allocation of We will allocate your Purchase Payments to the Allocation Options according to your instructions as contained in our records at the time the Purchase Payment is accepted at our administrative office. Your initial allocation instructions are on the Application. You may change your allocation instructions at any time by Written Notice. Allocations must be made in accordance with your selection made at the Issue Datewhole percentages. Unless you elect otherwise, No Default — This Contract will not be in default if subsequent Purchase Payments will be allocated in accordance with your initial selectionare not made. Allocation GUARANTEED ACCOUNT The Guaranteed Account includes the Fixed Account and the DCA Fixed Accounts, which are each a part of the Company's general account. You may allocate some or all of your Purchase Payments is subject and may transfer some of your Contract Value to an account within the Guaranteed Account, except that transfers may not be made into the DCA Fixed Accounts. Amounts allocated to an account within the Guaranteed Account earn interest from the date the funds are credited to the Allocation Requirements set forth on account. The interest rate we apply to Purchase Payments and transfers into the Contract Schedule. If there are Joint Owners, unless we are instructed Fixed Account is guaranteed for one year from the date the Purchase Payment or transfer is credited to the contraryaccount. When an interest rate guarantee expires, allocation instructions we will set a new interest rate, which may not be accepted from either one of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your Account Value same as the interest rate then in effect for any Business Day is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units Purchase Payments or transfers allocated to the Contract Fixed Account. The new interest rate is also guaranteed for the Subaccount by the Accumulation Unit Valueone year. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth on the Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Schedule and consists of assets, which are kept separate from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- systematically transfer Purchase Payments applied to the Separate Account are allocated to the Subaccounts of DCA Fixed Accounts to other Allocation Options in equal amounts over a designated period. The interest rate we apply to Purchase Payments allocated to a DCA Fixed Account is guaranteed for the Separate period over which transfers are allowed from that DCA Fixed Account. We, in our sole discretion, establish the interest rates for each account in the Guaranteed Account. We may, will not declare a rate that is less than an annual effective interest rate of 3.00%. Because these rates vary from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value allocations made to the additional Investment Option(s). However, same account within the right to make any transfer will be limited by any terms and conditions in effect Guaranteed Account at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we different times may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued earn interest at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine the number of Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plusdifferent rates.

Allocation of Purchase Payments. The allocation of the initial Net Purchase Payments Payment is made in accordance with your the selection made by a Participant at the Issue Datetime the Participant's Certificate is issued. Unless you elect otherwiseotherwise changed by Written Request by a Participant, subsequent Net Purchase Payments will be are allocated in accordance with your the same manner as the initial selectionNet Purchase Payment. Allocation of the Net Purchase Payments is subject to the Allocation Requirements set forth Guidelines shown on the Contract Certificate Schedule. If there are Joint Owners, unless we are instructed The Company has reserved the right to allocate initial Purchase Payments to the contrary, allocation instructions will be accepted from either one Money Market Sub-Account until the expiration of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your Account Value for any Business Day is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated Right to the Contract for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value Examine Certificate period as set forth on in the Contract ScheduleCertificate. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Certificate Schedule and consists of assetsassets set aside by the Company, which are kept separate from our General Account that of the general account assets and all other separate account assets of our other segregated asset accountsthe Company. The assets of the Separate Account, Account equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we the Company may doconduct. The Separate Account assets are divided into SubaccountsSub-Accounts. The Sub-Accounts which are available under a Certificate are listed in the Certificate Schedule. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account Sub-Accounts are allocated to the Subaccounts of Eligible Investment(s) and the Separate AccountSeries, if any, within an Eligible Investment shown on the Certificate Schedule. We The Company may, from time to time, add additional Investment OptionsEligible Investments or Series to those shown on the Certificate Schedule. You The Participant may be permitted to transfer all Certificate Values or a portion of your Account Value allocate Net Purchase Payments to the additional Investment Option(s)Eligible Investments or Series. However, the right to make any transfer such transfers or allocations will be limited by any the terms and conditions in effect at imposed by the time of transferCompany. If Should the shares of any of the such Eligible Investment(s) or any Series within an Eligible Investment Options become unavailable for investment by the Separate Account, or we deem the Company's Board of Directors deems further investment in these shares inappropriate, we the Company may prohibit or otherwise limit further purchase of such shares or may substitute shares of another Eligible Investment Option or Series for shares already purchased under the Certificates of this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets The assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount procedures of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine the number of Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plusCompany.

Allocation of Purchase Payments. The allocation of Purchase VALUATION OF ASSETS -- Assets of the Separate Account are valued Payments is made in accordance with your selection made at the at their fair market value in accordance with our procedures. Issue Date. Unless you elect otherwise, subsequent Purchase Payments will be allocated in accordance with your initial ACCUMULATION UNIT -- Accumulation Units shall be used to account selection. Allocation of the Purchase Payments is subject to the for all amounts allocated to or withdrawn from a Subaccount of Allocation Requirements set forth on the Contract Schedule. If the Separate Account as a result of Purchase Payments, there are Joint Owners, unless we are instructed to the contrary, allocation instructions will be accepted from either one of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your Account Value for any Business Day is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth on the Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Schedule and consists of assets, which are kept separate from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value to the additional Investment Option(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine allocation instructions will be accepted from either one of the the number of Accumulation Units of a Subaccount purchased or Joint Owners. canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of ACCOUNT VALUE PROVISION one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is ACCOUNT VALUE -- Your Account Value for any Business Day is the received at the Annuity Service Office. sum of your interests in the Subaccounts of the Separate Account as of such Business Day. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit The portion of your Account Value in a Subaccount is determined values for each Subaccount are determined by multiplying the by multiplying the number of Accumulation Units allocated to the Accumulation Unit Value for the immediately preceding Business Contract for the Subaccount by the Accumulation Unit Value. Day by the Net Investment Factor of the Subaccount for the current Business Day. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth on the Contract Schedule. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. SEPARATE ACCOUNT PROVISIONS NET INVESTMENT FACTOR -- The Net Investment Factor for each THE SEPARATE ACCOUNT -- The Separate Account is designated on the Subaccount is determined by dividing A by B and multiplying by Contract Schedule and consists of assets, which are kept separate (1-C) where: from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to A is (i) the net asset value per share of the Investment reserves and other liabilities of your Contract and those of Option held by the Subaccount at the end of the current other owners who have an interest in the Separate Account, will Business Day; plusplus not be charged with liabilities arising out of any other business we may do. (ii) any dividend or capital gains per share declared on behalf of such Investment Option that has an The Separate Account assets are divided into Subaccounts. The ex-dividend date as of the current Business Day. assets of each Subaccount are allocated to an Investment Option. B is the net asset value per share of the Investment Option INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments held by the Subaccount for the immediately preceding applied to the Separate Account are allocated to the Business Day. Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be C is (i) the Separate Account Product Charges which are shown permitted to transfer all or a portion of your Account Value to on the Contract Schedule for each day since the last the additional Investment Option(s). However, the right to make Business Day. The daily charge is equal to the annual any transfer will be limited by any terms and conditions in Separate Account Product Charges divided by 365; plus effect at the time of transfer. (ii) a charge factor, if any, for any taxes or any tax If the shares of any of the Investment Options become unavailable reserve we have established as a result of the for investment by the Separate Account, or we deem further operation of this Subaccount. investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute PRODUCT CHARGES -- We deduct Product Charges from the Separate shares of another Investment Option for shares already purchased Account and Account Value as shown on the Contract Schedule. under this Contract, subject to obtaining any necessary regulatory approvals. TRANSFER PROVISIONS CHANGE IN OPERATION -- We reserve the right to transfer assets of You may make certain transfers of your Account Value subject to the Separate Account to another account, and to modify the the provisions set forth below. You may elect to make these structure or operation of the Separate Account, subject to transfers by telephone or other means acceptable to us. However, obtaining any necessary regulatory approvals. If we to elect this option you must first provide us with a Notice in a form that we may require. If there are Joint 8011 (11/00) Owners, unless we are instructed to the contrary, transfer TRANSFERS DURING THE ANNUITY PERIOD -- Transfers made during the instructions will be accepted from either one of the Joint Annuity Period are subject to the following: Owners. We will use reasonable procedures to confirm that instructions are genuine. Neither we nor our Annuity Service 1. the maximum number of transfers between Subaccounts is shown Office will be liable for any transfers made in accordance with on the Contract Schedule; your instructions. All transfers made on the same Business Day will be treated as one transfer. A transfer will be made as of 2. you may not make a transfer from the General Account to the the end of a Business Day when we receive a Notice containing all Separate Account; the required information necessary to process the request. 3. transfers among Subaccounts will be made by converting the TRANSFERS DURING THE ACCUMULATION PERIOD -- During the number of Annuity Units being transferred to the number of Accumulation Period, you may ask us to transfer your Account Annuity Units of the Subaccount to which the transfer is Value from one Subaccount to another, subject to the following: made, so that the next Annuity Payment if it were made at that time would be the same amount that it would have been 1. the maximum number of transfers per Contract Year is shown without the transfer. Thereafter, Annuity Payments will on the Contract Schedule; reflect changes in the value of the new Annuity Units; and

Allocation of Purchase Payments. The allocation of Purchase Payments is made in accordance with your selection made at the Issue Date. Unless you elect otherwise, subsequent Purchase Payments will be allocated in accordance with your initial selection. Allocation of the Purchase Payments is subject to the Allocation Requirements set forth on the Contract Schedule. If there are Joint Owners, unless we are instructed to the contrary, allocation instructions will be accepted from either one of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your Account Value for any Business Day is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth on the Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Schedule and consists of assets, which are kept separate from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value to the additional Investment Option(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine the number of Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plusplus 6010 (02/02) 6

Allocation of Purchase Payments. The allocation of Purchase Payments is made in accordance with your selection made at the Issue Date. Unless you elect otherwise, subsequent Purchase Payments will be allocated in accordance with your initial selection. Allocation of the Purchase Payments is subject to the Allocation Requirements set forth on the Contract Schedule. If there are Joint Owners, unless we are instructed to the contrary, allocation instructions will be accepted from either one of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your Account Value for any Business Day is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth on the Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Schedule and consists of assets, which are kept separate from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value to the additional Investment Option(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine the number of Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plus.

Allocation of Purchase Payments. You elect to have purchase payments allocated to the Fixed Account and/or one or more Sub-Accounts of the Variable Account. Each allocation must be in whole percentages of at least 5%. The sum of the allocation percentages must equal 100%. The allocation of Purchase Payments the initial purchase payment is made in accordance with your selection made at the Issue Dateset forth on page 3. Unless you elect otherwise, subsequent Purchase Payments Additional purchase payments will be allocated in accordance with the same manner as your initial selectionpurchase payment unless changed by written request. Allocation of the Purchase Payments is subject to the Allocation Requirements set forth on the Contract Schedule. If there are Joint Owners, unless we are instructed to the contrary, All purchase payments received after a change in allocation instructions will be accepted from either one of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your Account Value for any Business Day is the sum of your interests invested in the Subaccounts of the Separate same manner as your most recent allocation unless you instruct otherwise in writing. FIXED ACCOUNT -------------------------------------------------------------------------------- The Fixed Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units an option under this Contract where purchase payments are allocated to the Contract general account of the Company at a guaranteed interest rate. FIXED ACCOUNT VALUE The Fixed Account Value is equal to: The sum of all purchase payments allocated to the Fixed Account; plus Any Variable Account Value transferred to the Fixed Account; plus Interest credited to the Fixed Account; less Any amounts transferred from the Fixed Account to the Variable Account; less Any amounts withdrawn for charges, deductions or surrenders as provided in this Contract. INTEREST CREDITED The Company will credit interest to each purchase payment allocated to the Fixed Account at the interest rate in effect when such purchase payment was received. That interest rate will be guaranteed for one year from the date of receipt. At the end of that year and at the end of each successive one year period, the Company will declare a new interest rate applicable for that purchase payment which will be guaranteed for the Subaccount by following year. The effective annual interest rate will never be less than 3%. The Company will credit interest on amounts transferred to the Accumulation Unit ValueFixed Account from the Variable Account in the manner stated above as of the date of transfer. VARIABLE ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth on the Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- -------------------------------------------------------------------------------- The Separate Variable Account is designated on an option under this Contract where purchase payments are allocated to a separate investment account of the Company. Assets of the Variable Account are the property of the Company and will be used to provide values and benefits under this Contract Schedule and consists of assets, which are kept separate from our General Account assets and all of our other segregated asset accountssimilar contracts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will Variable Account may not be charged with liabilities arising out of any other business we the Company may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value to the additional Investment Option(s)conduct. However, the right to make any transfer account will be limited by any terms charged for charges, deductions and conditions surrenders as provided in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract. VARIABLE ACCOUNT VALUE The Variable Account Value is equal to the current value of all Accumulation Units in Sub-Accounts to which Contract Value is allocated. The Variable Account is divided into Sub-Accounts, subject each of which invests in a Portfolio. Purchase payments are allocated to obtaining any necessary regulatory approvalsone or more of these Sub-Accounts as designated by you. CHANGE IN OPERATION -- We reserve The Company may from time to time make additional Sub-Accounts available. These Sub-Accounts will invest in investment portfolios that the Company deems suitable for the Contracts. The Company also has the right to transfer assets eliminate Sub-Accounts from the Variable Account, to combine two or more Sub-Accounts, or to substitute a new Portfolio or similar investment option for the Portfolio in which a Sub-Account invests. A substitution may become necessary if, in the Company's judgment, the Portfolio or other investment option no longer suits the purposes of the Separate Contracts. This may happen due to unsatisfactory investment performance, a change in laws or regulations, a change in a Portfolio's investment objectives or restrictions, because the Portfolio is no longer available for investments, or for some other reason. The Company will obtain prior approval from the SEC to the extent required and any other required approvals before making such a change or substitution. ACCUMULATION UNITS The Company will use amounts allocated or transferred to a Sub-Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvalsbuy Accumulation Units. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine the The number of Accumulation Units of a Subaccount purchased or canceled. This is done determined by dividing the amount allocated or transferred to (or the amount withdrawn from) the Subaccount, Sub-Account by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the Sub-Account for the Valuation Period during which the purchase payment was received or the transfer was made. The Accumulation Unit Value for each Sub-Account was arbitrarily set at $10 when the first Portfolio interest was purchased by the Sub-Account. The Accumulation Unit Value for any subsequent Valuation Period is equal to: The Accumulation Unit Value for the Sub-Account for the immediately preceding Business Day Valuation Period; multiplied by the The Net Investment Factor of the Subaccount for the current Business DaySub-Account for such subsequent Valuation Period. NET INVESTMENT FACTOR The Net Investment Factor is an index applied to measure the investment performance of a Sub-Account from one Valuation Period to the next. The Net Investment Factor may be greater or less than one; therefore, the Accumulation Unit Value may increase or decrease from Business Day to Business Daydecrease. NET INVESTMENT FACTOR -- The For all Sub-Accounts (except the Growth & Income Sub-Account and the Bond Sub-Account), the Net Investment Factor for each Subaccount Sub-Account for any Valuation Period is determined by dividing A by B and multiplying (a) by (1-Cb) and subtracting (c) from the result, where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plus