Additional product details
Market value adjustment Your contract also includes an MVA feature, which may decrease or increase your surrender value depending on the change in the market value adjustment external index rate since the start of the term. Due to the mechanics of an MVA, surrender values decrease as the MVA external index rate rises. When the MVA external index rate decreases, the surrender value increases. However, the MVA is limited to the surrender charge or the interest credited to the accumulation value. See the product disclosure for more information. Accumulation value At issue, your accumulation value is equal to your initial premium. Your accumulation value grows as interest is credited to your policy and may be reduced if you make withdrawals from your policy. Surrender value The surrender value is the amount that is available at the time of contract surrender. The surrender value is equal to the accumulation value, subject to the market value adjustment, less applicable surrender charges, and state premium taxes. The surrender value will never be less than the minimum requirements set forth by state laws, at the time of issue, in the state where the contract is delivered. The minimum surrender value will not be less than 87.5% of all premiums; less any partial surrenders (after market value adjustment or reductions for surrender charges); accumulated at a rate not less than the rate required or otherwise directed by your Contract.
33779Z
6
REV 3-23
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