Common use of Contingent Owner Clause in Contracts

Contingent Owner. The person, if any, you select who may succeed to your rights as Owner of this Contract if you die before your Annuity Date. Contract Anniversary -- The same date in each subsequent year as your Contract Date. Contract Date -- The date we issue your Contract, as shown in the Contract Specifications. Contract Years, Contract Semi-Annual Periods, Contract Quarters and Contract Months are measured from this date. Contract Debt -- As of the end of any Business Day, the principal amount you have outstanding on any loan under this Contract, plus any accrued and unpaid interest. Contract Value -- As of the end of any Business Day, your Variable Account Value, plus your Fixed Option Value, plus the amount held in the Loan Account to secure your Contract Debt, if any, including any interest. Fixed Option -- Amounts allocated under your Contract to the Fixed Option are held in our General Account and receive interest at rates declared periodically ("the Guaranteed Interest Rate"), but not less than 3% on an annual basis. General Account -- Our General Account consists of all assets of PM, other than those assets allocated to Separate Account A or to any of our other separate accounts. Investment Option -- A Variable Account or a Fixed Option offered under the Contract.

Contingent Owner. The person, if any, you select who may succeed to your rights as Owner of this Contract if you die before your Annuity Date. Contract Anniversary -- - The same date in each subsequent year as your Contract Date. Contract Date -- - The date we issue your Contract, as shown in the Contract Specifications. Contract Years, Contract Semi-Annual Periods, Contract Quarters and Contract Months are measured from this date. Contract Debt -- - As of the end of any Business Day, the principal amount you have outstanding on any loan under this Contract, plus any accrued and unpaid interest. Contract Value -- - As of the end of any Business Day, your Variable Account Value, plus your Fixed Option Value, plus the amount held in the Loan Account to secure your Contract Debt, if any, including any interest. Fixed Option -- - Amounts allocated under your Contract to the Fixed Option are held in our General Account and receive interest at rates declared periodically (the "the Guaranteed Interest Rate"), but not less than 3% on an annual basis. General Account -- - Our General Account consists of all assets of PM, other than those assets allocated to Separate Account A or to any of our other separate accounts. Investment Option -- - A Variable Account or a Fixed Option offered under the Contract.