Common use of RIGHT TO EXAMINE AND CANCEL Clause in Contracts

RIGHT TO EXAMINE AND CANCEL. You have the right to examine and to cancel the Contract. You may return the Contract within 10 days of the date it is received to either our Home Office or to the agent through whom it was purchased. If you were 65 years of age as of the date the application was signed, or if this Contract was a replacement of another annuity contract, then that period of time will be extended to 30 days. When we receive the Contract, we will cancel the Contract and refund the full Contract Value plus any fees or charges that were assessed since the Issue Date of this Contract. This page, the following pages, and any incorporated endorsements make up the entire Contract. This Contract is a legal contract and constitutes the entire legal relationship between you and us. Individual Variable Deferred Annuity Contract • Flexible Premiums • Death Benefit Available • Annuity Income Options Available • Participating Contract Schedule 3 Terms and Definitions 5 Parties to the Contract 6 General Provisions 6 Premiums 8 Separate Account 8 Fees and Charges 10 Transfers 10 Surrenders 11 Death Benefits 11 Annuitizations 12 Fixed and Variable Income Option Tables 15 CONTRACT NUMBER: [123456789] ISSUE DATE: [05/01/07] PLAN TYPE [IRA, NON-QUALIFIED, SIMPLE IRA, SEP, R▇▇▇ ▇▇▇, 401, 403(B) MATURITY DATE: [05/01/47] OWNER: [J▇▇▇ ▇▇▇] SEX: [M] AGE AT ISSUE: [50] ANNUITANT: [J▇▇▇ ▇▇▇] SEX: [M] AGE AT ISSUE: [50] BENEFICIARY: [J▇▇▇ ▇▇▇] SEX: [F] AGE AT ISSUE: [50] PRODUCT CLASS: [FEDERAL LIFE VARIABLE ANNUITY ACCOUNT — A] INITIAL PREMIUM: [$5,000] MORTALITY AND EXPENSE RISK CHARGE [0.70%] ADMINISTRATION CHARGE [0.15%] MINIMUM SUBSEQUENT PREMIUM [$500] MAXIMUM TOTAL PREMIUMS [$1,000,000] MINIMUM TRANSFER AMOUNT [$500] OR VALUE OF SUB-ACCOUNT IF LESS MAXIMUM TRANSFERS PER YEAR [12] MINIMUM CONTRACT VALUE AFTER PARTIAL SURRENDER [$5,000] IF YOU HAVE ANY QUESTIONS OR CONCERNS, CONTACT YOUR AGENT OR WRITE OR CALL US AT: MINIMUM CONTRACT VALUE TO BE APPLIED TO AN ANNUITY INCOME OPTION [$5,000] MINIMUM MONTHLY ANNUITY INCOME PAYMENT [$100] ASSUMED INVESTMENT RATE [5.00%] [FEDERAL LIFE FIXED INCOME PORTFOLIO] [50%] [FEDERAL LIFE EQUITY PORTFOLIO] [50%] IF YOU HAVE ANY QUESTIONS OR CONCERNS, CONTACT YOUR AGENT OR WRITE OR CALL US AT: Accumulated Earnings: The Contract Value in excess of Premiums received by us that have not yet been returned to you.

RIGHT TO EXAMINE AND CANCEL. You have the right to examine and to cancel the Contract. You may return the Contract within 10 days of the date it is received to either our Home Office or to the agent through whom it was purchased. If you were 65 years of age as of the date the application was signed, or if this Contract was a replacement of another annuity contract, then that period of time will be extended to 30 days. When we receive the Contract, we will cancel the Contract and refund the full Contract Value plus any fees or charges that were assessed since the Issue Date of this Contract. This page, the following pages, and any incorporated endorsements make up the entire Contract. This Contract is a legal contract and constitutes the entire legal relationship between you and us. Individual Variable Deferred Annuity Contract • Flexible Premiums • Death Benefit Available • Annuity Income Options Available • Participating • Dividends Are Not Anticipated L-8025 (Iowa) Contract Schedule 3 Terms and Definitions 5 Parties to the Contract 6 General Provisions 6 Premiums 8 Separate Account 8 Fees and Charges 10 Transfers 10 Surrenders 11 Death Benefits 11 Annuitizations Annuitization 12 Fixed and Variable Income Option Tables 15 L-8025 (Iowa) CONTRACT NUMBER: [123456789] ISSUE DATE: [05/01/07] PLAN TYPE [IRA, NON-QUALIFIED, SIMPLE IRA, SEP, R▇▇▇▇ ▇▇▇, 401, 403(B) MATURITY DATE: [05/01/47] OWNER: [J▇▇▇▇ ▇▇▇] SEX: [M] AGE AT ISSUE: [50] ANNUITANT: [J▇▇▇▇ ▇▇▇] SEX: [M] AGE AT ISSUE: [50] BENEFICIARY: [J▇▇▇▇ ▇▇▇] SEX: [F] AGE AT ISSUE: [50] PRODUCT CLASS: [FEDERAL LIFE VARIABLE ANNUITY ACCOUNT — A] INITIAL PREMIUM: [$5,000] MORTALITY AND EXPENSE RISK CHARGE [0.70%] ADMINISTRATION CHARGE [0.15%] MINIMUM SUBSEQUENT PREMIUM [$500] MAXIMUM TOTAL PREMIUMS [$1,000,000] MINIMUM TRANSFER AMOUNT [$500] OR VALUE OF SUB-ACCOUNT IF LESS MAXIMUM TRANSFERS PER YEAR [12] MINIMUM CONTRACT VALUE AFTER PARTIAL SURRENDER [$5,000] IF YOU HAVE ANY QUESTIONS OR CONCERNS, CONTACT YOUR AGENT OR WRITE OR CALL US AT: L-8025 (Iowa) MINIMUM CONTRACT VALUE TO BE APPLIED TO AN ANNUITY INCOME OPTION [$5,000] MINIMUM MONTHLY ANNUITY INCOME PAYMENT [$100] ASSUMED INVESTMENT RATE [5.00%] [FEDERAL LIFE FIXED INCOME PORTFOLIO] [50%] [FEDERAL LIFE EQUITY PORTFOLIO] [50%] IF YOU HAVE ANY QUESTIONS OR CONCERNS, CONTACT YOUR AGENT OR WRITE OR CALL US AT: L-8025 (Iowa) Accumulated Earnings: The Contract Value in excess of Premiums received by us that have not yet been returned to you.