Common use of SEPARATE ACCOUNT PROVISIONS Clause in Contracts

SEPARATE ACCOUNT PROVISIONS. Separate Account You may allocate your Net Premium Payments and Accumulation Value (except for Loan Account Value) to the Sub-Account(s), which are divisions of the Separate Account shown in the Policy Specifications. The Separate Account was established by a resolution of our Board of Directors as a "separate account" under the insurance law of our state of domicile. The Separate Account under which there are Sub-Accounts is registered as a unit investment trust under the 1940 Act. The assets of the Separate Account (except assets in excess of the reserves and other contract liabilities of the Separate Account) will not be chargeable with liabilities arising out of any other business conducted by us. The income, gains or losses from the Separate Account's assets will be credited or charged against the Separate Account without regard to the income, gains or losses of the Company. Separate Account assets are owned and controlled exclusively by us, and we are not a trustee with respect to such assets. We may change the investment policy of the Separate Account at any time. If required by the Insurance Commissioner, we will file any such change for approval with the Department of Insurance in our state of domicile, and in any other state or jurisdiction where this Policy is issued. Sub-Accounts The Separate Account is divided into Sub-Accounts. The assets of each Sub-Account will be invested fully and exclusively in shares of the appropriate Underlying Fund for such Sub-Account. The investment performance of each Sub-Account will reflect the investment performance of the appropriate Underlying Fund. For each Sub-Account, we will maintain Variable Accumulation Units as a measure of the investment performance of the Underlying Fund shares held in such Sub-Account. We may add or delete Sub-Accounts at any time. Investments of the Sub-Accounts All amounts allocated or transferred to a Sub-Account will be used to purchase shares of the appropriate Underlying Fund. Each Underlying Fund will at all times be registered under the 1940 Act as an open-end management investment company. After due consideration of appropriate factors, we may eliminate or substitute Underlying Funds in accordance with the "Underlying Fund Withdrawal and Substituted Securities" provision. Any and all distributions made by an Underlying Fund will be reinvested in additional shares of that Underlying Fund at net asset value. Deductions by us from a Sub-Account will be made by redeeming a number of Underlying Fund shares at a net asset value equal in total value to the amount to be deducted. Investment Risk Underlying Fund share values fluctuate, reflecting the risks of changing economic conditions and the ability of an Underlying Fund's investment adviser or sub-adviser to manage that Underlying Fund and anticipate changes in economic conditions. You bear the entire investment risk of gain or loss of the Separate Account assets under this Policy.

SEPARATE ACCOUNT PROVISIONS. The Separate Account You may allocate your Net Premium Payments The Separate Account is designated on the Contract Schedule and Accumulation Value (except for Loan consists of assets that are kept separate from our General Account Value) to assets and all of our other segregated asset accounts. We own the Sub-Account(s), which are divisions assets of the Separate Account shown in the Policy SpecificationsAccount. The Separate Account was established by a resolution of our Board of Directors as a "separate account" under the insurance law of our state of domicilewill not be charged with liabilities that arise from any business we may conduct. The Separate Account under which there are Sub-Accounts is registered as a unit investment trust under the 1940 Act. The assets of We will add amounts to the Separate Account (except assets in excess from other contracts of the reserves and other contract liabilities of the Separate Account) will not be chargeable with liabilities arising out of any other business conducted by usours. The income, gains or losses from the Separate Account's assets will be credited or charged against the Separate Account without regard to the income, gains or losses of the Company. Separate Account assets are owned and controlled exclusively by us, and we are not a trustee with respect to such assets. We may change the investment policy of the Separate Account at any time. If required by the Insurance Commissioner, we will file any such change for approval with the Department of Insurance in our state of domicile, and in any other state or jurisdiction where this Policy is issued. Sub-Accounts The Separate Account is divided into Sub-AccountsInvestment Divisions, each of which buys shares in a corresponding Portfolio. The assets of each Sub-Thus, the Separate Account will be invested fully and exclusively does not invest directly in shares of the appropriate Underlying Fund for such Sub-Account. The investment performance of each Sub-Account will reflect the investment performance of the appropriate Underlying Fund. For each Sub-Accountstocks, we will maintain Variable Accumulation Units as a measure of the investment performance of the Underlying Fund shares held in such Sub-Account. We may add or delete Sub-Accounts at any timebonds, etc. Investments of the Sub-Accounts All amounts Separate Account Purchase Payments applied to the Separate Account are allocated to the Investment Divisions. We may, from time to time, add additional Portfolios to the Separate Account. You may be permitted to transfer all or transferred a portion of your Account Balance to the Investment Divisions that invest in the additional Portfolio(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. We can close, add or remove Portfolios as Investment Division investments as permitted by law. When a Sub-change is made, we will send you a revised prospectus for the Separate Account, which will describe all of the Portfolios then available under the Contract and/or any notice required by law. When a Portfolio is removed, we have the right to substitute a different Portfolio in which the Investment Division will then invest the value of the removed Portfolio. Change in Operation We may make certain changes to the Separate Account if we think they would best serve the interests of participants in or owners of similar contracts or would be appropriate in carrying out the purposes of such contracts. Any changes will be made only to the extent and in the manner permitted by applicable laws. Also, when required by law, we will obtain your approval of the changes and approval from any appropriate regulatory authority. Examples of changes to the Separate Account that we may make include: PPS (07/01) [5] -------------------------------------------------------------------------------- . To transfer assets in an Investment Division to another Investment Division, or to one or more other separate accounts, or to our General Account; or to add, combine, or close or remove Investment Divisions in the Separate Account. . To substitute, for the shares held in any Portfolio, the shares of another class of share or the shares of another fund or any other investment permitted by law. If any changes result in material change in the underlying investments of an Investment Divisions to which an amount is allocated under the Contract, we will notify you of the change. You may then make a new choice of Investment Divisions. Accumulation Unit Accumulation Units shall be used to purchase shares of the appropriate Underlying Fund. Each Underlying Fund will at account for all times be registered under the 1940 Act as amounts put into or taken from an open-end management investment company. After due consideration of appropriate factors, we may eliminate or substitute Underlying Funds in accordance with the "Underlying Fund Withdrawal and Substituted Securities" provision. Any and all distributions made by an Underlying Fund will be reinvested in additional shares of that Underlying Fund at net asset value. Deductions by us from a Sub-Account will be made by redeeming a number of Underlying Fund shares at a net asset value equal in total value to the amount to be deducted. Investment Risk Underlying Fund share values fluctuate, reflecting the risks of changing economic conditions and the ability of an Underlying Fund's investment adviser or sub-adviser to manage that Underlying Fund and anticipate changes in economic conditions. You bear the entire investment risk of gain or loss Division 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 an Investment Division purchased or canceled. This is done by dividing the amount put into (or the amount taken from) the Investment Division, by the dollar value of one Accumulation Unit of the Investment Division as of the end of the Business Day during which the transaction (or for Purchase Payments by the end of the Business Day following the day the Purchase Payment) is received by us in good order at our Administrative Office. Accumulation Unit Value The initial Accumulation Unit Value for each Investment Division was set by us. Subsequent Accumulation Unit values for each Investment Division are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Investment Division for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. To the extent permitted by law, we may change when we calculate the Accumulation Unit Value by giving you 30 days notice; or delay calculation of the Accumulation Unit Value if an emergency exists, making valuation of assets under this Policy.in the Separate Account not reasonably practicable, or the Securities and Exchange Commission permits such deferral. Net Investment Factor The Net Investment Factor for each Investment Division is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Portfolio held by the Investment Division at the end of the current Business Day; plus

SEPARATE ACCOUNT PROVISIONS. Separate Account You may allocate your Net Premium Payments and Accumulation Value (except for Holding Account Value, Indexed Account Value, and Loan Account Value) to the Sub-Account(s), which are divisions of the Separate Account shown in the Policy Specifications. The Separate Account was established by a resolution of our Board of Directors as a "separate account" under the insurance law of our state of domicile. The Separate Account under which there are Sub-Accounts is registered as a unit investment trust under the 1940 Act. The assets of the Separate Account (except assets in excess of the reserves and other contract liabilities of the Separate Account) will not be chargeable with liabilities arising out of any other business conducted by us. The income, gains or losses from the Separate Account's assets will be credited or charged against the Separate Account without regard to the income, gains or losses of the Company. Separate Account assets are owned and controlled exclusively by us, and we are not a trustee with respect to such assets. We may change the investment policy of the Separate Account at any time. If required by the Insurance Commissioner, we will file any such change for approval with the Department of Insurance in our state of domicile, and in any other state or jurisdiction where this Policy is issued. Sub-Accounts The Separate Account is divided into Sub-Accounts. The assets of each Sub-Account will be invested fully and exclusively in shares of the appropriate Underlying Fund for such Sub-Account. The investment performance of each Sub-Account will reflect the investment performance of the appropriate Underlying Fund. For each Sub-Account, we will maintain Variable Accumulation Units as a measure of the investment performance of the Underlying Fund shares held in such Sub-Account. We may add or delete Sub-Accounts at any time. Investments of the Sub-Accounts All amounts allocated or transferred to a Sub-Account will be used to purchase shares of the appropriate Underlying Fund. Each Underlying Fund will at all times be registered under the 1940 Act as an open-end management investment company. After due consideration of appropriate factors, we may eliminate or substitute Underlying Funds in accordance with the "Underlying Fund Withdrawal and Substituted Securities" provision. Any and all distributions made by an Underlying Fund will be reinvested in additional shares of that Underlying Fund at net asset value. Deductions by us from a Sub-Account will be made by redeeming a number of Underlying Fund shares at a net asset value equal in total value to the amount to be deducted. Investment Risk Underlying Fund share values fluctuate, reflecting the risks of changing economic conditions and the ability of an Underlying Fund's investment adviser or sub-adviser to manage that Underlying Fund and anticipate changes in economic conditions. You bear the entire investment risk of gain or loss of the Separate Account assets under this Policy.

SEPARATE ACCOUNT PROVISIONS. The Separate Account You may allocate your Net Premium Payments The Separate Account is designated on the Contract Schedule and Accumulation Value (except for Loan Account Value) to consists of assets set aside by the Sub-Account(s)Company, which are divisions kept separate from that of the Separate Account shown in general assets and all other separate account assets of the Policy Specifications. The Separate Account was established by a resolution of our Board of Directors as a "separate account" under the insurance law of our state of domicile. The Separate Account under which there are Sub-Accounts is registered as a unit investment trust under the 1940 ActCompany. The assets of the Separate Account (except assets in excess of the equal to reserves and other contract liabilities of the Separate Account) will not be chargeable charged with liabilities arising out of any other business conducted by usthe Company may conduct. The income, gains or losses from the Separate Account's assets will be credited or charged against the Separate Account without regard to the income, gains or losses of the Company. Separate Account assets are owned and controlled exclusively by us, and we are not a trustee with respect to such assets. We may change the investment policy of the Separate Account at any time. If required by the Insurance Commissioner, we will file any such change for approval with the Department of Insurance in our state of domicile, and in any other state or jurisdiction where this Policy is issued. Sub-Accounts The Separate Account is divided into Sub-Accounts. The assets of each Sub-Account will be invested fully and exclusively in shares of the appropriate Underlying Fund for such Sub-Account. The investment performance of each Sub-Account will reflect the investment performance of the appropriate Underlying Fund. For each Sub-Account, we will maintain Variable Accumulation Units as a measure of the investment performance of the Underlying Fund shares held in such Sub-Account. We may add or delete Sub-Accounts at any timewhich are available under this Contract are listed in the Contract Schedule. Investments The assets of the Sub-Accounts All are allocated to the Eligible Investment(s) and the Series, if any, within an Eligible Investment shown on the Contract Schedule. The Company may, from time to time, add additional Eligible Investments or Series to those shown on the Contract Schedule. The Contract Owner may be permitted to transfer Contract Values or allocate Net Purchase Payments to the additional Eligible Investments or Series. However, the right to make such transfers or allocations will be limited by the terms and conditions imposed by the Company. Should the shares of any such Eligible Investment(s) or any Series within an Eligible Investment become unavailable for investment by the Separate Account, or the Company's Board of Directors deems further investment in these shares inappropriate, the Company may limit further purchase of such shares or may substitute shares of another Eligible Investment or Series for shares already purchased under this Contract. Valuation of Assets The assets of the Separate Account are valued at their fair market value in accordance with procedures of the Company. Accumulation Units During the Accumulation Period, Accumulation Units shall be used to account for all amounts allocated to or transferred to withdrawn from the Sub-Accounts of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. The Company will determine the number of Accumulation Units of a Sub-Account purchased or cancelled. This will be used done by dividing the amount allocated to purchase shares (or the amount withdrawn from) the Sub- Account by the dollar value of one Accumulation Unit of the appropriate Underlying Fund. Each Underlying Fund will at all times be registered under the 1940 Act as an open-end management investment company. After due consideration of appropriate factors, we may eliminate or substitute Underlying Funds in accordance with the "Underlying Fund Withdrawal and Substituted Securities" provision. Any and all distributions made by an Underlying Fund will be reinvested in additional shares of that Underlying Fund at net asset value. Deductions by us from a Sub-Account will be made by redeeming a number of Underlying Fund shares at a net asset value equal in total value to the amount to be deducted. Investment Risk Underlying Fund share values fluctuate, reflecting the risks of changing economic conditions and the ability of an Underlying Fund's investment adviser or sub-adviser to manage that Underlying Fund and anticipate changes in economic conditions. You bear the entire investment risk of gain or loss as of the Separate Account assets under this Policyend of the Valuation Period during which the request for the transaction is received at the Annuity Service Center.

SEPARATE ACCOUNT PROVISIONS. Separate Account You may allocate your Net Premium Payments and Accumulation Value (except for Loan Account Value) to the Sub-Account(s), which are divisions of – We established the Separate Account shown in the Policy Specifications. The Separate Account was established by a resolution of our Board of Directors as a "separate account" and maintain it under the insurance law laws and regulations of our state of domicile. The Separate Account under which there are Sub-Accounts is registered as a unit investment trust under the 1940 Act. The assets of the Separate Account (except shall be valued at least as often as any Policy benefits vary, but at least monthly. The Separate Account is divided into subaccounts, called Variable Accounts. Ixxxxx and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in excess our Separate Account to support this Policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other contract Policy liabilities of the with respect to our Separate Account) Account will not be chargeable with liabilities arising out of any other business conducted by uswe conduct. The income, gains We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or losses from to our General Account. All obligations arising under the Separate Account's assets will Policy are general corporate obligations of ours. We do not hold ourselves out to be credited or charged against trustees of the Separate Account without regard to the income, gains or losses of the Company. Separate Account assets are owned and controlled exclusively by us, and we are not a trustee with respect to such assets. We may establish additional Separate Accounts in our discretion. Variable Accounts – Each Variable Account may invest its assets in a separate class of shares of a designated investment company or companies. The Variable Accounts of our Separate Account that were available for your initial allocations are shown in your Application for this Policy. From time to time, we may make other Variable Accounts available to you. We will provide you with written notice of all material details including investment objectives and all charges. We reserve the right, subject to compliance with the law then in effect, to: · Change or add designated investment companies; · Add, remove or combine Variable Accounts; · Add, delete or make substitutions for the securities that are held or purchased by the Separate Account or any Variable Account; · Register or deregister any Variable Account under the Investment Company Act of 1940; · Change the classification of any Variable Account; · Operate any Variable Account as a managed investment company or as a unit investment trust; · Combine the assets of any Variable Account with other separate accounts or subaccounts of ours or our affiliates; · Transfer the assets of any Variable Account to other separate accounts or subaccounts of ours or our affiliates; · Run any Variable Account under the direction of a committee, board, or other group; · Restrict or eliminate any voting rights of Policy Owners with respect to any Variable Account, or other persons who have voting rights as to any Variable Account; · Change the allocations permitted under the Policy; · Terminate and liquidate any Variable Account; and · Make any other change needed to comply with law. If any of these changes result in a material change in the underlying investment of a Variable Account of our Separate Account, we will notify you of such change. Unless required by law or regulation, an investment policy may not be changed without our consent. We will not change the investment policy of the Separate Account at any time. If required by without the approval of the Insurance Commissioner, we will file any such change for approval with the Department Commissioner of Insurance in our state of domicile, and in any other state or jurisdiction where this Policy is issued. Sub-Accounts The Separate Account is divided into Sub-Accounts. The assets of each Sub-Account will be invested fully and exclusively in shares of the appropriate Underlying Fund process for such Sub-Account. The investment performance of each Sub-Account will reflect the investment performance of the appropriate Underlying Fund. For each Sub-Account, we will maintain Variable Accumulation Units as a measure of the investment performance of the Underlying Fund shares held in such Sub-Account. We may add or delete Sub-Accounts at any time. Investments of the Sub-Accounts All amounts allocated or transferred to a Sub-Account will be used to purchase shares of the appropriate Underlying Fund. Each Underlying Fund will at all times be registered under the 1940 Act as an open-end management investment company. After due consideration of appropriate factors, we may eliminate or substitute Underlying Funds in accordance with the "Underlying Fund Withdrawal and Substituted Securities" provision. Any and all distributions made by an Underlying Fund will be reinvested in additional shares of that Underlying Fund at net asset value. Deductions by us from a Sub-Account will be made by redeeming a number of Underlying Fund shares at a net asset value equal in total value to the amount to be deducted. Investment Risk Underlying Fund share values fluctuate, reflecting the risks of changing economic conditions and the ability of an Underlying Fund's investment adviser or sub-adviser to manage that Underlying Fund and anticipate changes in economic conditions. You bear the entire investment risk of gain or loss of the Separate Account assets under this Policyapproval is on file.