Cova Financial Life Insurance Company
4100 Newport Place Drive, Suite 840
Newport Beach, CA 92600
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ADDITIONAL DEATH BENEFIT RIDER -- [EARNINGS PRESERVATION BENEFIT]
This Rider forms a part of the Contract to which it is attached and is effective
upon issuance. In the case of a conflict with any provision in the Contract, the
provisions of this Rider will control.
During the Accumulation Period, an Additional Death Benefit will be paid to your
Beneficiary(ies) upon your death, or upon the first death of a Joint Owner.
Before the Contract Anniversary immediately prior to the Owner's 81st birthday,
the Additional Death Benefit is equal to the Benefit Percentage (determined in
accordance with the table below) times the result of (a) - (b), where:
(a) is the death benefit under your Contract; and
(b) is total Purchase Payments not withdrawn. For purposes of calculating this
value, partial withdrawals are first applied against Earnings in the
Contract (Earnings are equal to your Account Value less Purchase Payments
not withdrawn), and then against Purchase Payments not withdrawn.
On or after the Contract Anniversary immediately prior to the Owner's 81st
birthday, the Additional Death Benefit is equal to the Benefit Percentage
(determined in accordance with the table below) times the result of (a) - (b),
where:
(a) is the death benefit on the Contract Anniversary immediately prior to the
Owner's 81st birthday, increased by subsequent Purchase Payments and
reduced proportionately by the percentage reduction in Account Value
attributable to each subsequent partial withdrawal; and
(b) is total Purchase Payments not withdrawn. For purposes of calculating this
value, partial withdrawals are first applied against Earnings in the
Contract (Earnings are equal to your Account Value less Purchase Payments
not withdrawn), and then against Purchase Payments not withdrawn.
Benefit Percentage
Issue Age Percentage
Ages 69 or younger 40%
Ages 70 - 79 25%
Ages 80 and above 0%
If a non-natural person owns the Contract, then Annuitant shall be deemed to be
Owner in determining the Additional Death Benefit. If Joint Owners are named,
the age of the oldest Owner will be used to determine the Additional Death
Benefit.
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If the Owner is a natural person and the Owner is changed to someone other than
a spouse, the Additional Death Benefit is as defined above; however, for the
purposes of calculating the subsections (b) above "total Purchase Payments not
withdrawn" shall be reset to equal the Account Value as of the effective date of
the Owner change, and Purchase Payments received and partial withdrawals taken
prior to the change of Owner will not be taken into account.
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 Additional Death Benefit
will be determined and payable upon receipt of due proof of death of the first
such spousal Beneficiary. Alternatively, such spouse Beneficiary may elect to
have the Additional Death Benefit determined and added to the Account Value upon
such election, in which case this Rider will terminate.
The Additional 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. Once determined the Additional Death Benefit will become part of the
death benefit and will be paid in accordance with the "Death Benefit Provisions"
of the Contract.
Any excess of the Additional 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.
MISSTATEMENT OF AGE OR SEX -- The "Misstatement of Age or Sex" provision is
modified to provide that we may also require proof of age of any Owner.
[The charge for this Rider is shown on the Contract Schedule.]
Cova Financial Life Insurance Company has caused this Rider signed by its
President and Secretary.
Form 7019 (11/00)
