Common use of SPOUSAL CONTINUATION Clause in Contracts

SPOUSAL CONTINUATION. If the surviving Owner or joint Owner on a jointly owned Contract, or the sole primary Beneficiary of a single-Owner Contract, is the surviving spouse of the deceased Owner, the spouse may elect to continue this Contract as the Owner instead of receiving the Death Benefit. If the Owner is a non-natural person, no spousal continuation is available. If the surviving spouse succeeds to these rights, the Contract will remain in force, and the surviving spouse will be the Owner subject to the same rights, terms and conditions as were applicable to the deceased Owner, subject to any requirements of the Tax Code. If no Annuitant is living on the date Spousal Continuation is elected, the surviving spouse will become the Annuitant. Pursuant to the Federal Defense of Marriage Act, same-sex marriages are not recognized for purposes of federal law. Therefore, the favorable tax treatment provided by federal tax law to an opposite-sex spouse is NOT available to a same-sex spouse. Same-sex spouses should consult a tax advisor prior to purchasing annuity products that provide benefits based upon status as a spouse, and prior to exercising any spousal rights under an annuity. Multiple Beneficiaries — If multiple Beneficiaries are eligible to receive the Death Benefit, each Beneficiary’s portion will be separately accounted for, and the required election as to form of payment must be received from each Beneficiary. Once our processing requirements are satisfied for at least one of the Beneficiaries, we will divide the Death Benefit into distinct portions, one for each Beneficiary. Each Beneficiary’s portion of the Death Benefit will remain invested in the Subaccounts according to your then-current allocation and will fluctuate with the performance of the Funds until we receive that Beneficiary’s election as to form of payment in Good Order at our Administrative Office. If a Beneficiary elects any form of payment other than a lump sum, the Beneficiary’s portion of the Death Benefit will remain invested in the Subaccounts and will fluctuate with the performance of the Funds unless we are otherwise directed by the Beneficiary by Written Request.

SPOUSAL CONTINUATION. If the surviving Owner or joint Owner on a jointly owned Contract, or the sole primary Beneficiary of a single-Owner Contract, is the surviving spouse of the deceased Owner, the spouse may elect to continue this Contract as the Owner instead of receiving the Death Benefit. If the Owner is a non-natural person, no spousal continuation is available. If the surviving spouse succeeds to these rights, the Contract will remain in force, and the surviving spouse will be the Owner subject to the same rights, terms and conditions as were applicable to the deceased Owner, subject to any requirements of the Tax Code. If no Annuitant is living on the date Spousal Continuation is elected, the surviving spouse will become the Annuitant. Pursuant to the Federal Defense of Marriage Act, same-sex marriages are not recognized for purposes of federal law. Therefore, the favorable tax treatment provided by federal tax law to an opposite-sex spouse is NOT available to a same-sex spouse. Same-sex spouses should consult a tax advisor prior to purchasing annuity products that provide benefits based upon status as a spouse, and prior to exercising any spousal rights under an annuity. Multiple Beneficiaries — - If multiple Beneficiaries are eligible to receive the Death Benefit, each Beneficiary’s portion will be separately accounted for, and the required election as to form of payment must be received from each Beneficiary. Once our processing requirements are satisfied for at least one of the Beneficiaries, we will divide the Death Benefit into distinct portions, one for each Beneficiary. Each Beneficiary’s portion of the Death Benefit will remain invested in the Subaccounts according to your then-current allocation and will fluctuate with the performance of the Funds until we receive that Beneficiary’s election as to form of payment in Good Order at our Administrative Office. If a Beneficiary elects any form of payment other than a lump sum, the Beneficiary’s portion of the Death Benefit will remain invested in the Subaccounts and will fluctuate with the performance of the Funds unless we are otherwise directed by the Beneficiary by Written Request.