Common use of CONTRACT VALUES Clause in Contracts

CONTRACT VALUES. CONTRACT VALUE The Contract value on any date equals the sum of the accumulated values in the Funding Options and the Fixed Account (if applicable). The accumulated value in a Funding Option equals the number of outstanding Accumulation Units credited to that Funding Option, multiplied by the then current Accumulation Unit Value for that Funding Option. The Accumulation value of the Fixed Account equals the number of outstanding Accumulation Units credited to the Fixed Account multiplied by the current Accumulation Unit Value of the Fixed Account. The Guaranteed value of the Fixed Account equals the accumulated value of the Fixed Account calculated by using the guaranteed net interest factor. CONTRACT CHARGE A Contract charge in the amount and for the period shown in the Contract Specifications will be deducted from the Contract value to reimburse Us for administrative expenses relating to the Contract. The Contract charge will be deducted by surrendering, on a pro rata basis, Accumulation Units from amounts allocated to the Funding Options. The Contract charge will not be deducted from the Fixed Account. We will deduct the Contract charge on a pro rata basis if the Contract has been in effect for less than a full period on the date the charge is deducted. The Contract charge will also be prorated upon full surrender or Termination of the Contract. CASH SURRENDER VALUE The cash surrender value is equal to the Contract value less any applicable withdrawal charges and fees as shown in the Contract Specifications, less any applicable Premium Tax and less any outstanding loan balance. The guaranteed cash surrender value of the Fixed Account equals the guaranteed value of the Fixed Account less any applicable charges and fees as shown in the Contract Specifications, less any applicable Premium Tax and less any outstanding loan balance. CASH SURRENDER You may elect by Written Request to receive the cash surrender value before the Maturity Date and without the consent of any beneficiary unless irrevocably named. You may elect either a full or partial surrender of the cash surrender value. In the case of a full surrender, this Contract will be canceled. In the case of a partial surrender, We will reduce Your Contract value by surrendering Accumulation Units on a pro rata basis from amounts allocated to the Funding Options and from the Fixed Account (if applicable), unless You instruct otherwise. A partial surrender will result in a reduction of Your Contract value and death benefit proceeds. The cash surrender value will be determined as of the next Valuation Date following receipt of Your Written Request. We may delay payment of the cash surrender value of the Funding Options for a period of not more than five business days after Your Written Request is recorded. We may delay payment of the cash surrender value of the Fixed Account for a period of not more than six months after We receive Your Written Request.

CONTRACT VALUES. CONTRACT VALUE The Contract contract value on the issue date is equal to: 1. the initial premium paid; less 2. any premium taxes due. On each date equals after the sum of issue date, the accumulated values in the Funding Options and the Fixed Account (if applicable). The accumulated value in a Funding Option equals the number of outstanding Accumulation Units credited to that Funding Option, multiplied by the then current Accumulation Unit Value for that Funding Option. The Accumulation value of the Fixed Account equals the number of outstanding Accumulation Units credited to the Fixed Account multiplied by the current Accumulation Unit Value of the Fixed Account. The Guaranteed value of the Fixed Account equals the accumulated value of the Fixed Account calculated by using the guaranteed net interest factor. CONTRACT CHARGE A Contract charge in the amount and for the period shown in the Contract Specifications will be deducted from the Contract value to reimburse Us for administrative expenses relating to the Contract. The Contract charge will be deducted by surrendering, on a pro rata basis, Accumulation Units from amounts allocated to the Funding Options. The Contract charge will not be deducted from the Fixed Account. We will deduct the Contract charge on a pro rata basis if the Contract has been in effect for less than a full period on the date the charge is deducted. The Contract charge will also be prorated upon full surrender or Termination of the Contract. CASH SURRENDER VALUE The cash surrender contract value is equal to the fixed account value plus the variable account value. RECORDS MAINTENANCE CHARGE We will charge a records maintenance charge each year until the annuity start date. The amount is shown on the Contract Specifications page. The charge for a contract year will be imposed on the last valuation day of each contract year. This charge will also be imposed on the annuity start date or the date when the contract is surrendered. The fee will be charged against the variable subaccounts and the fixed account proportionately. The portion of the fee charged to each subaccount will reduce the number of accumulation units standing to the credit of the contract in that subaccount. CASH VALUE The cash value less of this contract on any applicable withdrawal date is: 1. the contract value; minus 2. the surrender charge, if any, that you would incur if you surrendered the entire contract on that date; minus 3. the records maintenance charge that would be assessed if you surrendered the entire contract on that date; minus 4. any premium taxes and optional benefit charges and fees as that would be assessed on this contract if you surrendered the entire contract on that date. Surrender charges are shown in the Contract Specificationssurrender charge table below. SURRENDER CHARGE A surrender charge will apply to certain partial withdrawals and surrender transactions, less any applicable Premium Tax and less any outstanding loan balanceon annuitization. The guaranteed cash surrender value When one of the Fixed Account equals the guaranteed value of the Fixed Account less any applicable charges and fees these transactions occurs, we will determine if a charge applies. If a charge applies, it will be calculated as shown if all payments were withdrawn in the Contract Specificationssame order in which they were made. Each contract year, less any applicable Premium Tax and less any outstanding loan balance. CASH SURRENDER You you may elect by Written Request to receive the cash surrender value before the Maturity Date and without the consent of any beneficiary unless irrevocably named. You may elect either a full or partial surrender of the cash surrender value. In the case of a full surrender, this Contract will be canceled. In the case of a partial surrender, We will reduce Your Contract value by surrendering Accumulation Units on a pro rata basis from amounts allocated withdraw up to the Funding Options and from greater of 1. the Fixed Account (if applicable)excess of contract value over total premium payments less prior withdrawals that were previously assessed a surrender charge, unless You instruct otherwise. A partial surrender will result in a reduction of Your Contract value and death benefit proceeds. The cash surrender value will be determined as of the next Valuation Date following receipt of Your Written Request. We may delay payment of the cash surrender value of the Funding Options for a period of not more than five business days after Your Written Request is recorded. We may delay payment of the cash surrender value of the Fixed Account for a period of not more than six months after We receive Your Written Request.and