Common use of MAXIMUM ANNIVERSARY VALUE Clause in Contracts

MAXIMUM ANNIVERSARY VALUE. The Maximum Anniversary Value is equal to the greatest anniversary value for the Contract. An anniversary value is equal to the Contract Value on a Contract Anniversary increased by premium payments and decreased by "adjusted" withdrawals, as defined in Section 7.1.1(a), since that anniversary. To determine the Maximum Anniversary Value, we will calculate an anniversary value for each Contract Anniversary through the earlier of your attained age 80 or the anniversary on or prior to your date of death. If the Contract has co-owners, we will calculate the anniversary value through the earlier of the older Owner's attained age 80 or the anniversary on or prior to any Owner's date of death if a death benefit is payable. We will calculate the Maximum Anniversary Value based on your age (or the age of the older Owner, if the Contract has co-owners) on the Contract Date. Subsequent changes in Owner will not increase the -8- 9 period of time used to determine the Maximum Anniversary Value. If a new Owner has not reached attained age 80 and is older than the Owner whose age is being used to determine the Maximum Anniversary Value at the time of the ownership change, the period of time used in the calculation of the Maximum Anniversary Value will be based on the age of the new Owner at the time of the ownership change. If at the time of an ownership change the new Owner is attained age 80 or over, we will use the Maximum Anniversary Value as of the anniversary on or prior to the ownership change, increased by premium payments and decreased by "adjusted" withdrawals, as defined in Section 7.1.1(a), since that anniversary.

MAXIMUM ANNIVERSARY VALUE. The Maximum Anniversary Value is equal to the greatest anniversary value for the Contract. An anniversary value is equal to the Contract Value on a Contract Anniversary increased by premium payments and decreased by "adjusted" withdrawals, as defined in Section 7.1.1(a), since that anniversary. To determine the Maximum Anniversary Value, we will calculate an anniversary value for each Contract Anniversary through the earlier of your attained age 80 or the anniversary on or prior to your date of death. If the Contract has co-owners, we will calculate the anniversary value through the earlier of the older Owner's attained age 80 or the anniversary on or prior to any Owner's date of death if a death benefit is payable. We will calculate the Maximum Anniversary Value based on your age (or the age of the older Owner, if the Contract has co-owners) on the Contract Date. Subsequent changes in Owner will not increase the -8- 9 period of time used to determine the Maximum Anniversary Value. If a new Owner has not reached attained age 80 and is older than the Owner whose age is being used to determine the Maximum Anniversary Value at the time of the ownership change, the period of time used in the calculation of the Maximum Anniversary Value will be based on the age of the new Owner at the time of the ownership change. If at the time of an ownership change the new Owner is attained age 80 or over, we will use the Maximum Anniversary Value as of the anniversary on or prior to the ownership change, increased by premium payments and decreased by "adjusted" withdrawals, as defined in Section 7.1.1(a), since that anniversary.

MAXIMUM ANNIVERSARY VALUE. The Maximum Anniversary Value is equal to the greatest anniversary value for the Contract. An anniversary value is equal to the Contract Value on a Contract Anniversary increased by premium payments and decreased by "adjusted" withdrawals, as defined in Section 7.1.1(a7.1.1(b), since that anniversary. To determine the Maximum Anniversary Value, we will calculate an anniversary value for each Contract Anniversary through the earlier of your attained age 80 or the anniversary on or prior to your date of death. If the Contract has co-owners, we will calculate the anniversary value through the earlier of the older Owner's attained age 80 or the anniversary on or prior to any Owner's date of death if a death benefit is payable. We will calculate the Maximum Anniversary Value based on your age (or the age of the older Owner, if the Contract has co-owners) on the Contract Date. Subsequent changes in Owner will not increase the -8- 9 period of time used to determine the Maximum Anniversary Value. If a new Owner has not reached attained age 80 and is older than the Owner whose age is being used to determine the Maximum Anniversary Value at the time of the ownership change, the period of time used in the calculation of the Maximum Anniversary Value will be based on the age of the new Owner at the time of the ownership change. If at the time of an ownership change the new Owner is attained age 80 or over, we will use the Maximum Anniversary Value as of the anniversary on or prior to the ownership change, increased by premium payments and decreased by "adjusted" withdrawals, as defined in Section 7.1.1(a7.1.1(b), since that anniversary. If we have not received the beneficiary's instructions for making payment within 60 days following our receipt of the Owner's certified death certificate, due proof of death will be deemed to have been received by us on the 60th day, and payment will be made in a lump sum.

MAXIMUM ANNIVERSARY VALUE. The Maximum Anniversary Value is equal to the greatest anniversary value for the Contract. An anniversary value is equal to the Contract Value on a Contract Anniversary increased by premium payments and decreased by "adjusted" withdrawals, as defined in Section 7.1.1(a7.1.1(b), since that anniversary. To determine the Maximum Anniversary Value, we will calculate an anniversary value for each Contract Anniversary through the earlier of your attained age 80 or the anniversary on or prior to your date of death. If the Contract has co-owners, we will calculate the anniversary value through the earlier of the older Owner's attained age 80 or the anniversary on or prior to any Owner's date of death if a death benefit is payable. We will calculate the Maximum Anniversary Value based on your age (or the age of the older Owner, if the Contract has co-owners) on the Contract Date. Subsequent changes in Owner will not increase the -8- 9 period of time used to determine the Maximum Anniversary Value. If a new Owner has not reached attained age 80 and is older than the Owner whose age is being used to determine the Maximum Anniversary Value at the time of the ownership change, the period of time used in the calculation of the Maximum Anniversary Value will be based on the age of the new Owner at the time of the ownership change. If at the time of an ownership change the new Owner is attained age 80 or over, we will use the Maximum Anniversary Value as of the anniversary on or prior to the ownership change, increased by premium payments and decreased by "adjusted" withdrawals, withdrawals as defined in Section 7.1.1(a7.1.1(b), since that anniversary. If we have not received the beneficiary's instructions for making payment within 60 days following our receipt of the Owner's certified death certificate, due proof of death will be deemed to have been received by us on the 60th day, and payment will be made in a lump sum.