Common use of Market Value Adjustment Clause in Contracts

Market Value Adjustment. If you make a withdrawal, a Withdrawal Charge and any applicable taxes may apply. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account on or before the New Account Start Date, the transfer or withdrawal will be deemed to have occurred on the New Account Start Date. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account after the New Account Start Date, but before expiration of the 30 day period, (i) the transfer or withdrawal will be deemed to have occurred on the day we receive such notice; and (ii) the amount transferred or withdrawn will earn interest for the period beginning on the New Account Start Date and ending on the day we receive notification of your election. Any remaining balance not withdrawn or transferred will earn interest for the term of the new Guarantee Period Account, at the interest rate declared for such Account. If we do not receive notification from you within the 30 day period, you will be deemed to have elected to transfer the amount in the expiring Guarantee Period Account to establish a new Guarantee Period Account with the same term length, and the amount in the new Guarantee Period Account will continue to earn interest at the interest rate declared for the new Guarantee Period Account, and will be subject to all restrictions of the Market Value Adjusted Fixed Account. If we no longer offer the term length of the expiring Guarantee Period Account, the term length of the new Guarantee Period Account will be the next shortest term length we offer for the Market Value Adjusted Fixed Account at that time, and the interest rate will be the rate declared by us at that time for such term.

Market Value Adjustment. If you make Any cash withdrawal (which for purposes of this section includes transfers and amounts applied to purchase an annuity) of a withdrawalGuarantee Amount, other than a Withdrawal Charge and any applicable taxes may apply. If we receive notification of your election withdrawal effective within 30 days prior to make a transfer or withdrawal from an expiring Guarantee Period Account on or before the New Account Start Date, the transfer or withdrawal will be deemed to have occurred on the New Account Start Date. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account after the New Account Start Date, but before expiration Renewal Date of the 30 day periodGuarantee Amount, (i) or the transfer or withdrawal will be deemed to have occurred of interest credited on such Guarantee Amount during the day we receive such notice; and (ii) the amount transferred or withdrawn will earn interest for the period beginning on the New current Account Start Date and ending on the day we receive notification of your election. Any remaining balance not withdrawn or transferred will earn interest for the term of the new Guarantee Period AccountYear, at the interest rate declared for such Account. If we do not receive notification from you within the 30 day period, you will be deemed to have elected to transfer the amount in the expiring Guarantee Period Account to establish a new Guarantee Period Account with the same term length, and the amount in the new Guarantee Period Account will continue to earn interest at the interest rate declared for the new Guarantee Period Account, and will be subject to all restrictions a market value adjustment. The market value adjustment will reflect the relationship between the current rate (as described in the formula below) for the amount being withdrawn and the Guaranteed Interest Rate applicable to the amount being withdrawn. It also reflects the time remaining in the applicable Guarantee Period. The Company will determine the market value adjustment by multiplying the amount being withdrawn after the deduction of any applicable account fee and before deduction of any applicable withdrawal charge by the market value adjustment factor. The market value adjustment factor is: where, I is the Guaranteed Interest Rate being credited to the Guarantee Amount subject to the market value adjustment, J is the Guaranteed Interest Rate that the Company declares, as of the Market Value Adjusted Fixed Accounteffective date of the application of the market value adjustment, for current allocations to Guarantee Periods equal to the balance of the Guarantee Period of the Guarantee Amount subject to the market value adjustment, rounded to the next higher number of complete years. If For any Guarantee Period of less than one year J is the Guaranteed Interest Rate we no longer declare for a Guarantee Period of the same length as your Guarantee Period (the current rate). b is a factor which the Company will determine for each Certificate and which is set forth on the Certificate Specifications page and which will not exceed 0.25%, and N is the number of complete months remaining in the Guarantee Period of the Guarantee Amount subject to the market value adjustment. In the determination of J, if the Company does not currently offer the term length applicable Guarantee Period, then the Company will determine the rate by linear interpolation of the expiring current rates for Guarantee Period Account, the term length of the new Guarantee Period Account will be the next shortest term length we offer for the Market Value Adjusted Fixed Account at Periods that time, and the interest rate will be the rate declared by us at that time for such termare available.

Market Value Adjustment. If you make a withdrawal, a Withdrawal Charge and any applicable taxes may apply. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account on or before the New Account Start Date, the transfer or withdrawal will be deemed to have occurred on the New Account Start Date. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account after the New Account Start Date, but before expiration of the 30 day period, (i) the transfer or withdrawal will be deemed to have occurred on the day we receive such notice; and (ii) the amount transferred or withdrawn will earn interest for the period beginning on the New Account Start Date and ending on the day we receive notification of your election. Any remaining balance not withdrawn or transferred will earn interest for the term of the new Guarantee Period Account, at the interest rate declared for such Account. If we do not receive notification from you within the 30 day period, you will be deemed to have elected to transfer the amount in the expiring Guarantee Period Account to establish a new Guarantee Period Account with the same term length, and the amount in the new Guarantee Period Account will continue to earn interest at the interest rate declared for the new Guarantee Period Account, and will be subject to all restrictions of the Market Value Adjusted Fixed Account. If we no longer offer the term length of the expiring Guarantee Period Account, the term length of the new Guarantee Period Account will be the next shortest term length we offer for the Market Value Adjusted Fixed Account at that time, and the interest rate will be the rate declared by us at that time for such term. Market Value Adjustment A Market Value Adjustment will apply to any withdrawal or transfer from a Guarantee Period Account of the Market Value Adjusted Fixed Account other than during the 30 day period after such Guarantee Period Account expires. A Market Value Adjustment also may apply to amounts in the Market Value Adjusted Fixed Account if we pay Death Proceeds or if the Payout Start Date begins on a day other than during the 30 day period after such Guarantee Period Account expires.

Market Value Adjustment. If you make a withdrawal, a Withdrawal Charge and any applicable taxes may apply. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account on or before the New Account Start Date, the transfer or withdrawal will be deemed to have occurred on the New Account Start Date. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account after the New Account Start Date, but before expiration of the 30 day period, (i) the transfer or withdrawal will be deemed to have occurred on the day we receive such notice; and (ii) the amount transferred or withdrawn will earn interest for the period beginning on the New Account Start Date and ending on the day we receive such notification of your election. The interest earned during the 30 day period will be at a rate declared by us and equal to the current interest rate of the Guarantee Period Account with the same or lower term length as the expiring Guarantee Period Account. Any remaining balance not withdrawn or transferred will earn interest for the term of the new Guarantee Period Account, at the interest rate declared for such Account. If we do not receive such notification from you within the 30 day period, you will be deemed to have elected to transfer the amount in the expiring Guarantee Period Account to establish a new Guarantee Period Account with the same term length, and the amount in the new Guarantee Period Account will continue to earn interest at the interest rate declared for the new Guarantee Period Account, and will be subject to all restrictions of the Market Value Adjusted Fixed Account. If we no longer offer the term length of the expiring Guarantee Period Account, the term length of the new Guarantee Period Account will be the next shortest term length we offer offered for the Market Value Adjusted Fixed Account at that time, and the interest rate will be the rate declared by us at that time for such term.

Market Value Adjustment. If we do not receive notification from you make within the Window Period, you will be deemed to have elected to transfer the Guarantee Period Account Value of the expiring Guarantee Period Account to establish a withdrawalnew Guarantee Period Account of the same term length and the amount in the new Guarantee Period Account will continue to earn interest at the annualized effective interest rate declared for the new Guarantee Period Account. If we no longer offer that term length, then we will allocate the amount in the Guarantee Period Account to a Withdrawal Charge and any applicable taxes may applynew Guarantee Period Account with the next shortest term currently offered. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account Account: o on or before the New Account Start Date, the transfer or withdrawal will be deemed to have occurred on the New Account Start Date. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account o after the New Account Start Date, but before the expiration of the 30 day periodWindow Period, (i) o the transfer or withdrawal will be deemed to have occurred made on the day we receive such noticeprocess your withdrawal request; and (ii) o the amount transferred or withdrawn will earn interest for the period beginning on the New Account Start Date and ending on the day the withdrawal is made. The amount of interest earned will be at the interest rate we receive notification declared for a Guarantee Period Account of your electionthe same term length as the expiring Guarantee Period Account. Any remaining balance not withdrawn or transferred will earn interest for the term of the new Guarantee Period Account, at the annualized effective interest rate declared for such Accountaccount. If we do not receive notification // // // // // // // Withdrawals from you within the 30 day period, you will be deemed to have elected to transfer the amount in the expiring Guarantee Period Account to establish a new Guarantee Period Account with the same term length, and the amount in the new Guarantee Period Account will continue to earn interest at the interest rate declared for the new Guarantee Period Account, and will be subject to all restrictions of the Market Value Adjusted Fixed Account. If we no longer offer the term length of the expiring Guarantee Period Account, the term length of the new Guarantee Period Account will be the next shortest term length we offer for the subject to a Market Value Adjusted Fixed Account at that timeAdjustment, and the interest rate will be the rate declared by us at that time for such termas set forth below.

Market Value Adjustment. If you make a withdrawal, a Withdrawal Charge and any applicable taxes may apply. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account on or before the New Account Start Date, the transfer or withdrawal will be deemed to have occurred on the New Account Start Date. If we receive notification of your election to make a transfer or withdrawal from an expiring Guarantee Period Account after the New Account Start Date, but before expiration of the 30 day period, (i) the transfer or withdrawal will be deemed to have occurred on the day we receive such notice; and (ii) the amount transferred or withdrawn will earn interest for the period beginning on the New Account Start Date and ending on the day we receive such notification of your election. The interest earned during the 30 day period will be at a rate declared by us and equal to the current interest rate of the Guarantee Period Account with the same or lower term length as the expiring Guarantee Period Account. Any remaining balance not withdrawn or transferred will earn interest for the term of the new Guarantee Period Account, at the interest rate declared for such Account. If we do not receive such notification from you within the 30 day period, you will be deemed to have elected to transfer the amount in the expiring Guarantee Period Account to establish a new Guarantee Period Account with the same term length, and the amount in the new Guarantee Period Account will continue to earn interest at the interest rate declared for the new Guarantee Period Account, and will be subject to all restrictions of the Market Value Adjusted Fixed Account. If we no longer offer the term length of the expiring Guarantee Period Account, the term length of the new Guarantee Period Account will be the next shortest term length we offer offered for the Market Value Adjusted Fixed Account at that time, and the interest rate will be the rate declared by us at that time for such term. Market Value Adjustment A Market Value Adjustment will apply to any withdrawal or transfer from a Guarantee Period Account of the Market Value Adjusted Account other than during the 30 day period after such Guarantee Period Account expires. A Market Value Adjustment also may apply to amounts in the Market Value Adjusted Account if we pay Death Proceeds or if the Payout Start Date begins on a day other than during the 30 day period after such Guarantee Period Account expires.