Cova Financial Life Insurance Company
4100 Newport Place Drive, Suite 840
Newport Beach, CA 92600
DEATH BENEFIT RIDER-- [RETURN OF PURCHASE PAYMENTS]
This Rider forms a part of the Contract to which it is attached and is effective
upon issuance. In case of a conflict with any provision in the Contract, the
<PAGE>
provisions of this Rider will control. The following amends the "Death Benefit
Provisions" of the Contract as follows:
DEATH BENEFIT PROVISIONS
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD -- This provision is amended
and superseded to provide that the death benefit amount will be the greater of:
(1) the Account Value; or
(2) total Purchase Payments, reduced proportionately by the percentage
reduction in Account Value attributable to each partial withdrawal.
If a non-natural person owns the Contract, then Annuitant shall be deemed to be
Owner in determining the death benefit. If Joint Owners are named, the age of
the oldest will be used to determine the death benefit amount.
If the Owner is a natural person and the Owner is changed to someone other than
a spouse, the death benefit amount shall be determined as defined above;
however, subsection (2) shall be restated to provide as follows: "the Account
Value as of the effective date of the change of Owner, increased by Purchase
Payments received after the date of change of Owner and reduced proportionately
by the percentage reduction in Account Value attributable to each partial
withdrawal made after such date".
In the event that a Beneficiary who is the spouse of the Owner elects to
continue the Contract in his or her name in accordance with the "Death Benefit
Options During The Accumulation Period" provision, the death benefit amount
shall be determined in accordance with (1) or (2) above.
The amount of the death benefit is determined as of the end of the Business Day
on which we have received both due proof of death and an election for the
payment method. Any excess of the death benefit amount over the Account Value
will be allocated to each applicable Subaccount in the Variable Account and/or
the Fixed Account in the ratio that the Account Value in a Subaccount and/or the
Fixed Account bears to the total Account Value. The death benefit amount in the
Separate Account remains in the Separate Account until distribution begins. From
the time the death benefit is determined until complete distribution is made,
any amount in a Subaccount will be subject to investment risk. This risk is
borne by the Beneficiary.
DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD -- This provision of the
Contract is amended to add that if the Beneficiary is the spouse of the Owner,
he or she may elect to continue the Contract in his or her own name and upon
such election the Account Value will be adjusted to an amount equal to the death
benefit amount determined upon such election and receipt of due proof of death
of the Owner. Any excess of the death benefit amount over the Account Value will
be allocated to each applicable Subaccount in the Variable Account and/or the
Fixed Account in the ratio that the Account Value in a Subaccount and/or the
Fixed Account bears to the total Account Value.
<PAGE>
This Rider is irrevocable.
[The charge for this Rider is shown on the Contract Schedule.]
Cova Financial Life Insurance Company has caused this Rider to be signed by its
President and Secretary.
Form 7015 (11/00)
