Common use of SETTLEMENT PROVISIONS Clause in Contracts

SETTLEMENT PROVISIONS. POLICY SPECIFICATIONS ------------------------ INSURED [▇▇▇▇ ▇▇▇▇▇▇▇] PLAN: Variable Universal Life ISSUE AGE [35] POLICY NUMBER: [EV 00 000 000] SEX [MALE] DATE OF ISSUE: [September 1, 2000] PREMIUM CLASS [STANDARD] [NONTOBACCO] OWNER, BENEFICIARY As designated in the application subject to Section 18 of the policy DEATH BENEFIT OPTION AT ISSUE [Option A] DEFINITION OF LIFE INSURANCE ELECTED [Cash Value Accumulation Test] SUM INSURED AT ISSUE: $[500,000] MINIMUM SUM INSURED: $250,000 NO LAPSE GUARANTEE PERIOD: The first [30] Policy Years Other Benefits and Specifications --------------------------------- AGE 100 MAINTENANCE OF DEATH BENEFIT RIDER ACCELERATION OF LIFE INSURANCE DEATH BENEFIT FOR QUALIFIED LONG-TERM CARE SERVICES RIDER Monthly Acceleration Percentage [2]% PREMIUMS* --------- PLANNED PREMIUM $[3,040] per year for [all] Policy Years MINIMUM INITIAL PREMIUM $[491.25] NO LAPSE GUARANTEE PREMIUM $[4,190.00] per year for [30] Policy Years BILLING INTERVAL [Annual] *NOTICE: The actual premiums paid will affect the Account Value, the duration of insurance coverage, and the amount of Death Benefit as described in Section 4. EVEN IF THE PLANNED PREMIUMS SHOWN ABOVE ARE PAID AS SCHEDULED, THEY MAY NOT BE SUFFICIENT TO CONTINUE THIS POLICY IN FORCE UNTIL THE DEATH OF THE INSURED. Unless the No Lapse Guarantee feature is in effect, this policy will continue in force until the death of the Insured only if on each Grace Period Testing Date this policy's Account Value, less any indebtedness, is at least equal to all due and unpaid Policy Charges as of that date. E0300V

SETTLEMENT PROVISIONS. -------------------------------------------------------------------------------- 1. POLICY SPECIFICATIONS ------------------------ -------------------------------------------------------------------------------- INSURED [▇▇▇▇ ▇▇▇▇▇▇▇] PLAN: Variable Universal Life ISSUE AGE [35] POLICY NUMBER: [EV 00 000 000] SEX [MALE] DATE OF ISSUE: [September 1, 2000] PREMIUM CLASS [STANDARDStandard] [NONTOBACCONonTobacco] OWNER, BENEFICIARY As designated in the application subject to Section 18 of the policy DEATH BENEFIT OPTION AT ISSUE [Option A] DEFINITION OF LIFE INSURANCE ELECTED [Cash Value ELECTED Accumulation Test] PLAN [Performance Executive Variable Universal Life] POLICY NUMBER [PXVUL 1000001] DATE OF ISSUE [January 1, 2004] SUM INSURED AT ISSUE: Basic Sum Insured at Issue $[500,000] Additional Sum Insured at Issue[*] [* Includes any additional amount elected on the application] $[ 0] ----------- Total Sum Insured at Issue $[500,000] MINIMUM TOTAL SUM INSURED: INSURED [$250,000 NO LAPSE GUARANTEE PERIOD: The first 50,000] MINIMUM BASIC SUM INSURED [30$50,000] Policy Years Other Benefits and Specifications OTHER BENEFITS AND SPECIFICATIONS --------------------------------- AGE 100 MAINTENANCE OF DEATH BENEFIT RIDER ACCELERATION OF LIFE INSURANCE DEATH BENEFIT FOR QUALIFIED LONG-TERM CARE SERVICES RIDER Monthly Acceleration Percentage [2]% PREMIUMS* --------- As hereinafter described in this Section 1] [Disability Waiver of Charges Benefit Rider] [See Rider Information, Section 1] [Disability Payment of Specified Premium Rider] [See Rider Information, Section 1] PREMIUMS -------- PLANNED PREMIUM $[3,040] 20,275 per year for [allall years] Policy Years MINIMUM INITIAL PREMIUM $[491.252536.88] NO LAPSE GUARANTEE PREMIUM $[4,190.00] per year for [30] Policy Years BILLING INTERVAL [Annual] *NOTICE: The actual premiums paid will affect the Account Value, the duration of insurance coverage, and the amount of Death Benefit as described in Section 45. EVEN IF THE PLANNED PREMIUMS SHOWN ABOVE ARE PAID AS SCHEDULED, THEY MAY NOT BE SUFFICIENT TO CONTINUE THIS THE POLICY IN FORCE UNTIL THE DEATH OF THE INSURED. Unless the No Lapse Guarantee feature is in effect, this The policy will continue in force until the death of the Insured only if on each Grace Period Testing Date this the policy's Account Value, less any indebtedness, is at least equal to all due and unpaid charges. ***THIS PAGE INTENTIONALLY LEFT BLANK*** -------------------------------------------------------------------------------- 1. POLICY SPECIFICATIONS, CONTINUED -------------------------------------------------------------------------------- MAXIMUM POLICY CHARGES DEDUCTIONS FROM PREMIUM PAYMENTS PREMIUM CHARGE [10]% of premium paid in all years MONTHLY DEDUCTIONS FROM ACCOUNT VALUE ADMINISTRATIVE CHARGE $[9.00 in all Policy Charges Years] ISSUE CHARGE $[.3383] per $1000 of Basic Sum Insured at Issue for [the first 6] Policy Years COST OF INSURANCE CHARGE Determined in accordance with Section 9, and deducted for all Policy Years ASSET-BASED RISK CHARGE Percentage of Separate Account assets as of that date. E0300Vshown below (percentage shown is deducted monthly):