Common use of Commuting Clause in Contracts

Commuting. If the Owner elects, the Annuitant may commute remaining designated period payments under Annuity Payment Option I. If the election allows, the contingent Annuitant may commute remaining designated period payments after the death of the Annuitant under Annuity Payment Options I or II. If no contingent Annuitant is named, any remaining designated period payments after the death of the Annuitant may be commuted by the estate. Any computation shall be at the appropriate Benchmark Rate of Return. EXCESS INTEREST We may declare that fixed Annuity Payments will be computed based on an interest rate above the guaranteed minimum rate. We guarantee that any higher rate, once declared effective, will remain in effect for a 12-month period. Form 15208-95 MINIMUM AMOUNTS The minimum amount that may be applied under any Annuity Payment Option is $2,000. If the proceeds to be applied are less than $2,000, or, if Annuity Payments are ever less than $20, we may change the frequency of Annuity Payments to result in payments of at least that amount or require a one sum payment, in which case the Contract would be terminated.

Commuting. If the Owner elects, the Annuitant may commute remaining designated period payments under Annuity Payment Option I. If the election allows, the contingent Annuitant may commute remaining designated period payments after the death of the Annuitant under Annuity Payment Options I or II. If no contingent Annuitant is named, any remaining designated period payments after the death of the Annuitant may be commuted by the estate. Any computation shall be at the appropriate Benchmark Rate of Return. EXCESS INTEREST We may declare that fixed Annuity Payments will be computed based on an interest rate above the guaranteed minimum rate. We guarantee that any higher rate, once declared effective, will remain in effect for a 12-month period. Form 15208-95 MINIMUM AMOUNTS The minimum amount that may be applied under any Annuity Payment Option is $2,000. If the proceeds to be applied are less than $2,000, or, if Annuity Payments are ever less than $20, we may change the frequency of Annuity Payments to result in payments of at least that amount or require a one sum payment, in which case the Contract would be terminated.. Form 15208-95

Commuting. If the Owner elects, the Annuitant may commute remaining designated period payments under Annuity Payment Option I. If the election allows, the contingent Annuitant may commute remaining designated period payments after the death of the Annuitant under Annuity Payment Options I or II. If no contingent Annuitant is named, any remaining designated period payments after the death of the Annuitant may be commuted by the estate. Any computation shall be at the appropriate Benchmark Rate of Return. EXCESS INTEREST We may declare that fixed Annuity Payments will be computed based on an interest rate above the guaranteed minimum rate. We guarantee that any higher rate, once declared effective, will remain in effect for a 12-month period. Form 15208-95 MINIMUM AMOUNTS The minimum amount that may be applied under any Annuity Payment Option is $2,000. If the proceeds to be applied are less than $2,000, or, if Annuity Payments are ever less than $20, we may change the frequency of Annuity Payments to result in payments of at least that amount or require a one sum payment, in which case the Contract would be terminated.