Ameritas Life Insurance Corp.


 


STEP-UP DEATH BENEFIT RIDER


 


This rider is made a part of the policy and is based
on the application and payment of the premium. This rider is subject to the terms and provisions of the policy and this
rider. If there is a conflict between the terms of the policy and the terms of this rider, the rider language controls. This rider
may not be cancelled and will terminate based on the ‘Termination’ provision below.


 


	DEFINITIONS


 


BENEFIT EXPIRY AGE. Means the attained age
shown on the rider schedule at which time the benefit of this rider expires. If the policy to which this rider is attached
is jointly owned, we will use the attained age of the oldest owner to determine the benefit expiry age.


 


MAXIMUM STEP-UP AGE. Means
the attained age shown on the rider schedule at which time step-up dates cease to occur. If the policy to which this
rider is attached is jointly owned, we will use the attained age of the oldest owner to determine the maximum
step-up age.


 


STEP-UP DATE. Means the date at which time
guaranteed minimum death benefit (GMDB) amounts are


re-determined. The first step-up date is the
policy date. There will be no step-up dates after the birthday that you attain the maximum step-up age.


 


STEP-UP INTERVAL. Means the period of time
between step-up dates. The step-up interval is shown on the rider schedule.


 


	PROVISIONS


 


BENEFITS. This rider provides that we will
pay a GMDB that is equal to the greater of the policy death benefit as described in the ‘Death Benefit’ provision of
the policy and an amount described below.


 


The amount of the GMDB depends on the date that proof
of death is received. If you die prior to this rider being terminated, the death benefit is payable under this
rider. The GMDB amount cannot be withdrawn. If the policy to which this rider is attached is jointly owned, then the death
benefit is payable upon the death of the first owner.


 


The amount of the death benefit will be included
in the annual report.


 


CALCULATION OF THE GUARANTEED MINIMUM DEATH BENEFIT.
On the first step-up date, the GMDB is initialized at the initial premium. Thereafter, the GMDB equals:


 


(1) the greater of (A) and (B), where:


(A) is the policy accumulation value
as of the most recent step-up date; and


(B) is the GMDB immediately preceding the
most recent step-up date; plus


(2) any premiums paid since the
most recent step-up date; minus


(3) an adjustment for each withdrawal
made since the most recent step-up date.


 


The adjustment for each withdrawal will be equal
to (A) multiplied by the quotient of (B) divided by the smaller of (B) and (C). Equivalently, the withdrawal adjustment equals:


 


Aif (C) is greater than or equal
to (B), or


A * (B / C)if (B) is greater than (C),


 


where:


 


(A) = the withdrawal amount (including
any applicable surrender charges);


(B) = the GMDB prior to the withdrawal;
and


(C) = the policy accumulation value
prior to the withdrawal.


 


SDBR 8-15






    	 



    	 



    

RIDER CHARGE. Beginning with the policy
date, each month until the rider terminates, we will deduct a rider charge pro-rata from your fixed account
and subaccounts. The current and maximum charges are shown on the rider schedule. When your rider is issued,
the current charge applies. After the first policy year, we reserve the right to change the current charge on your policy’s
anniversary; however, your charge will never exceed the maximum charge.


 


INVESTMENT RESTRICTIONS.
While this rider is in effect, we may limit the investment options that you are allowed to select. We also
may change such limits from time to time or impose additional restrictions. We will notify you in writing at least
30 days (or longer if required by state and/or federal law or regulation) prior to any change in the investment option limitations.


 


TERMINATION. This rider terminates on the
earliest of the following:


 


(1) the death of an owner; or


(2) the policy maturity date; or


(3) the policy anniversary nearest your benefit
expiry age; or


(4) the date that the policy’s accumulation
value reduces to zero.


 


AMERITAS LIFE INSURANCE CORP.


 


 


	[	SPECIMEN	SPECIMEN	]
	   President	Secretary   


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


SDBR 8-15