LIFE SERIES FUND - First Investors

selected. The first such systematic transfer will occur on the first Valuation Date of the ContractMonth or Contract Quarter that next follows the date We receive Your request. Transfers underthis option may not be designated either to or from the Fixed Account.The minimum amount that may be transferred either from or to any one Subaccount is $100.The Systematic Transfer Option will terminate if and when the Subaccount Accumulation Valueremaining in all of the originating accounts is depleted. Currently, transfers made under thisoption are not subject to any fee and are not included in the yearly transfer count. We mayterminate this option or modify Our rules governing this option at Our discretion by giving You31 days written notice.Automated Subaccount Reallocation OptionIf You request, We will automatically reallocate the Subaccount Accumulation Values atquarterly intervals according to the most recent Purchase Payment allocation on file with Us.The first such reallocation will occur on the first Valuation Date of the Contract Quarter thatnext follows the date on which We receive Your request.Upon reallocation, the amount of Subaccount Accumulation Value allocated to each Subaccountis equal to (a) multiplied by (b), where:(a) is equal to:1. the allocation percentage You have specified for the Subaccount; divided by2. the sum of the allocation percentages for all such Subaccounts; and,(b) is equal to the sum of the Subaccount Accumulation Values in all of the Subaccounts at thetime of the reallocation.Any requested changes in Your Purchase Payment allocation percentages are reflected in thenext quarterly reallocation following the change. The reallocation will only affect the allocationof Subaccount Accumulation Values among the Subaccounts. It will not affect the Fixed AccountAccumulation Value. Transfers of Subaccount Accumulation Values made under this option arenot subject to the minimum transfer amount described above. Currently, transfers made underthis option are not subject to any fee and are not included in the yearly transfer count. A transferof Subaccount Accumulation Value made while this Automated Subaccount Reallocation Optionis in effect automatically cancels the option. You may subsequently re-elect this option bymaking a request in the manner described above. We may terminate this option or modify Ourrules governing this option at Our discretion by giving You 31 days written notice.Death Benefits Before Commencement of Annuity PaymentsIf You die before the Maturity Date, We pay a death benefit to the Beneficiary You havedesignated. We generally make this payment within seven days of receiving in Good Order (a) adeath certificate or similar proof of the death of the Annuitant or Contractowner (“Due Proof ofDeath”) and (b) a claimant’s statement form that includes payment instructions with theBeneficiary’s election to receive payment in either a single sum settlement or an annuity option.We will pay the death benefit: (a) in a single sum and the Contract will terminate, (b) byapplying it to one of the annuity options, or (c) as We otherwise permit.Generally, the amount of the death benefit payable to the Beneficiary, upon the death of theContractowner who is also the Annuitant, is the greater of (a) the total Purchase Paymentsreduced proportionally by any partial surrenders or (b) the Accumulation Value on the date Wereceive Due Proof of Death. We calculate the proportional reduction in Your total PurchasePayments in two steps. First, We calculate the percentage that any surrender represents of Your15