Cova Financial Life Insurance Company
4100 Newport Place Drive, Suite 840
Newport Beach, CA 92600
THREE MONTH MARKET ENTRY RIDER
This Rider forms a part of the Contract to which it is attached, and is
effective upon issuance. The terms of this Rider apply to the Contract when,
prior to the Annuity Date, Purchase Payments are allocated to the Three Month
Market Entry Account (TMME Account) that is a part of our General Account. In
the case of a conflict with any provision of the Contract, the provisions of
this Rider will control.
If you request to participate in the Three Month Market Entry program, we will
open a TMME Account for you. The TMME Account will provide for transfers to any
of the Subaccounts of the Separate Account over a 3 month period, as you have
selected. You may also select any other time period that we may declare. All
Purchase Payments applied to this program will be allocated to your TMME
Account. No transfers may be made into this Account.
Under the Three Month Market Entry program, a specified dollar amount of Account
Value will be transferred on a monthly basis from your TMME Account to any of
the Subaccounts of the Separate Account. The initial dollar amount transferred
will be equal to the initial amount allocated to your TMME Account divided by
the number of months in the time period you have selected.
The first transfer will be made on the date the Purchase Payment is allocated to
the TMME Account. Subsequent transfers will be made each month thereafter on the
same day. However, transfers will be made on the 1st day of the following month
for Purchase Payments allocated on the 29th, 30th or 31st day of a month. If
such a day is not a Business Day the transfer will take place on the next
Business Day. Transfers will continue on a monthly basis until all amounts are
transferred from the TMME Account. Your TMME Account will be terminated as of
<PAGE>
the last transfer.
The interest rate earned on your TMME Account will be the Minimum Guaranteed
Interest Rate for our Fixed Account, plus any additional interest, which we may
declare from time to time.
You can have only one Three Month Market Entry Account at any given time. You
may allocate subsequent Purchase Payments to your existing TMME Account. The
allocation of subsequent Purchase Payments to an existing TMME Account increases
the monthly dollar amount of Account Value transferred and thereby accelerates
the time period over which transfers are made. The new dollar amount transferred
out of the TMME Account will be determined by dividing each new allocation by
the number of months the TMME Account is based upon and adding that amount to
the existing transfer amount. Each allocation resulting from a subsequent
Purchase Payment will earn interest at the then-current interest rate applied to
new allocations to a TMME Account of the same monthly term. Allocations
resulting from each Purchase Payment, along with the interest credited thereon,
will be transferred on a First-in-First-out (FIFO) basis.
If you terminate your participation in this program, all money remaining in the
TMME Account will be transferred to a Money Market Subaccount unless you specify
otherwise.
Cova Financial Life Insurance Company has caused this Rider to be signed by its
President and Secretary.
Form 7014 (11/00)
