Common use of Rider Charge Clause in Contracts

Rider Charge. Annual Rider Charge Beginning three months after the Rider Effective Date, and every three months thereafter, an amount equal to one quarter of the Annual Rider Charge will be multiplied by the greater of the Contract Value or the Benefit Base on the date of the charge. It will be deducted on a pro-rata basis from Contract Values allocated to the Variable Account. For purposes of calculating the Annual Rider Charge, the greater of the Contract Value or the Benefit Base will be subject to the Benefit Base Maximum. The Annual Rider Charge may increase at the time of a Benefit Base Reset. The Annual Rider Charge following the increase will not exceed the current Annual Rider Charge for new issues. If we are no longer issuing this rider, we reserve the right to increase the Annual Rider Charge to an amount that will not exceed the maximum Annual Rider Charge. You may elect to decline the Annual Rider Charge increase. Declining the Annual Rider Charge increase will result in no increase to the Benefit Base. You will be notified in writing a minimum of 30 days prior to the Contract Anniversary that you may decline the Annual Rider Charge increase. If you elect to decline the Annual Rider Charge increase, you must provide a Written Request to us no less than seven calendar days prior to the Contract Anniversary. Once you notify us of your decision to decline the Annual Rider Charge increase, you will no longer be eligible for future Benefit Base increases. A proportionate amount of the Annual Rider Charge will be deducted upon termination of this rider or surrender of the contract. The Annual Rider Charge will be discontinued upon termination of the rider as described in the Rider Termination section.