Common use of GUARANTEED WITHDRAWAL AMOUNT Clause in Contracts

GUARANTEED WITHDRAWAL AMOUNT. The Guaranteed Withdrawal Amount is the total amount that you or your ----- beneficiary will receive from the Contract over time, provided that withdrawals from your Contract do not exceed the Annual Benefit Payment (defined in Section 3 below) in any Contract Year. Your initial Guaranteed Withdrawal Amount is equal to the Initial Benefit Base. Your Initial Benefit Base as of the date of issue of this Rider is shown on the Contract Schedule. For each Purchase Payment made on or before the GWB Purchase Payment Date shown in the Contract Schedule, the Guaranteed Withdrawal Amount will be reset equal to the greater of a) the Guaranteed Withdrawal Amount before the Purchase Payment and b) the Benefit Base after the Purchase Payment. When a Purchase Payment is made after the GWB Purchase Payment Date, the Guaranteed Withdrawal Amount will not change. The GWB Purchase Payment Date is the last date that Purchase Payments can reset the Guaranteed Withdrawal Amount, Benefit Base or Annual Benefit Payment as defined below. Your Guaranteed Withdrawal Amount is not reduced for withdrawals. The Guaranteed Withdrawal Amount may also be reset as a result of an Automatic or Optional Reset as described below.

GUARANTEED WITHDRAWAL AMOUNT. The Guaranteed Withdrawal Amount is the total amount that you or your ----- _____ beneficiary will receive from the Contract over time, provided that withdrawals from your Contract do not exceed the Annual Benefit Payment (defined in Section 3 below) in any Contract Year. Your initial Guaranteed Withdrawal Amount is equal to the Initial Benefit Base. Your Initial Benefit Base as of the date of issue of this Rider is shown on the Contract Schedule. For each Purchase Payment made on or before the GWB Purchase Payment Date shown in the Contract Schedule, the Guaranteed Withdrawal Amount will be reset equal to the greater of a) the Guaranteed Withdrawal Amount before the Purchase Payment and b) the Benefit Base after the Purchase Payment. When a Purchase Payment is made after the GWB Purchase Payment Date, the Guaranteed Withdrawal Amount will not change. The GWB Purchase Payment Date is the last date that Purchase Payments can reset the Guaranteed Withdrawal Amount, Benefit Base or Annual Benefit Payment as defined below. Your Guaranteed Withdrawal Amount is not reduced for withdrawals. The Guaranteed Withdrawal Amount may also be reset as a result of an Automatic or Optional Reset as described below.