ANNUITY TABLES. The amounts set forth in the Annuity Tables for Annuity Options 1 through 4 and 8 depend on the sex (unless unisex rates apply) and age of the Annuitant or the Joint Annuitants on the Annuity Start Date. The Annuity Tables are modified to reflect: the Assumed Interest Rate for Variable Annuity Payments; or the rate of interest in effect on the Annuity Start Date for Fixed Annuity Payments. The rate of interest for Fixed Annuity Payments is guaranteed not to be less than the Guaranteed Rate set forth on page 3. The Annuity Tables contain the amount of monthly Annuity Payment per $1,000 of Annuity Start Amount. The Annuity Tables state values for the exact ages shown. The values will be interpolated based on the exact age(s) of the Annuitant or Joint Annuitants on the Annuity Start Date. The basis of the Annuity Tables for Options 1 through 4 and 8 and the Assumed Interest Rate are set forth on page 3. The Annuity Table for Option 7 is determined without reference to the age or sex of the Annuitant and is based upon the Assumed Interest Rate. Annuity Payments for Options 5 and 6 are computed without reference to the Annuity Tables. The Annuity Tables are used in accordance with generally accepted actuarial principles. ANNUITY PAYMENTS No Annuity Option can be selected that requires SBL to make Annuity Payments of less than $100.00. Each Annuity Option allows for making Annuity Payments annually, semiannually, quarterly or monthly. Annuity Payments due on a date other than a Valuation Date, are paid as of the end of the next following Valuation Date.
ANNUITY TABLES. 24, 25 AMENDMENTS OR ENDORSEMENTS, if any -------------------------------------------------------------------------------- VARIABLE ANNUITY CONTRACT SPECIFICATIONS -------------------------------------------------------------------------------- OWNER: ABC Employer CONTRACT NUMBER: Specimen CONTRACT DATE: 6-30-1996 PLAN: Qualified ASSIGNMENT: This Contract may not be assigned. See Assignment Provision of this Contract. -------------------------------------------------------------------------------- INITIAL PURCHASE PAYMENT.................... $500 ($25 pursuant to an Automatic Investment Program) MINIMUM SUBSEQUENT PURCHASE PAYMENTS........ $500 ($25 pursuant to an Automatic Investment Program) MINIMUM SYSTEMATIC WITHDRAWAL............... $100 MAXIMUM PARTICIPANT AGE..................... 80 MORTALITY AND EXPENSE RISK CHARGE........... 1.00% Annually ANNUAL ADMINISTRATIVE FEE................... None WITHDRAWAL CHARGES Purchase Payment Year..................... 1 2 3 4 5 6 + Withdrawal Charge......................... 5% 5% 5% 5% 5% 0% FREE WITHDRAWAL PERCENTAGE....................... 10% MINIMUM GUARANTEED RATE.......................... 3% SEPARATE ACCOUNT................................. Variflex SEPARATE ACCOUNT SERIES: 1 Money Market Series 2 High Grade Income Series 3 High Yield Series 4 Global Aggressive Bond Series 5 Growth-income Series 6 Equity Income Series 7 Managed Asset Allocation Series 8 Specialized Asset Allocation Series 9 Growth Series 10 Value Series 11 Worldwide Equity Series 12 Social Awareness Series 13 Emerging Growth Series 14 Small Cap Series METHOD FOR DEDUCTIONS: Deductions for Premium Taxes and any unallocated partial Withdrawals, including Systematic Withdrawals, will be made sequentially from the Contract Value in the order of the Series listed above and then from the DCA Plus Account. The General Account is the last Account charged. The value of each Account will be depleted before the next is charged. * The Participant may select the Annuity Commencement Date and the Annuity Option. If no Annuity Commencement Date or Annuity Option is selected by the Participant, they will be assigned automatically.
ANNUITY TABLES. The amounts set forth in the Annuity Tables for Annuity Options 1 through 4 and 6 depend on the sex and age of the Annuitant or the Joint Annuitants on the Annuity Start Date. The Annuity Tables are modified to reflect:
ANNUITY TABLES. The rates in Tables 1 and 2 below are applied to the Account Value on the Annuity Date to compute the minimum amount of the annuity payment for the payout options described on the preceding page. Table 1 is used to compute the minimum annuity payment under Option 1 (Payments for a Period Certain). Table 2 is used to compute the minimum initial annuity payment under Option 2 (Payments for Life with a Certain Period), assuming a 10 year Period Certain. The rates used in each table are applied per $1,000 of Account Value, as of the Annuity Date. We used an interest rate of 1.0% per year in preparing Table 1, and an interest rate of 2.0% per year in preparing Table 2. Table 2 assumes 120 monthly payments certain. The annuity payments in Table 2 are based on the Annuitant's "adjusted age" and sex. The adjusted age is the Annuitant's age as of the Annuitant's last birthday prior to the date on which the first payment is due, adjusted as shown in the "Translation of Adjusted Age" table below. When we computed the amounts shown in Table 2, we used the Annuity 2000 valuation mortality table, with four-year age setbacks and projected mortality improvement factors (modified Scale G) projected from the age at annuitization to the age at which the probability of survival is needed in the calculation of the annuity payment. TRANSLATION OF ADJUSTED AGE Calendar Year in Which First Calendar Year in Which Payment Is Due Adjusted Age First Payment Is Due Adjusted Age ---------------------------- ------------------ ---------------------- ------------------ 2010 through 2019 Actual Age minus 1 2060 through 2069 Actual Age minus 6 2020 through 2029 Actual Age minus 2 2070 through 2079 Actual Age minus 7 2030 through 2039 Actual Age minus 3 2080 through 2089 Actual Age minus 8 2040 through 2049 Actual Age minus 4 2090 through 2099 Actual Age minus 9 2050 through 2059 Actual Age minus 5 AMOUNT OF MONTHLY PAYMENT FOR EACH $1,000 APPLIED TABLE 1 -PAYMENTS FOR A PERIOD CERTAIN Number of Monthly Number of Monthly Number of Monthly Number of Monthly Years Payment Years Payment Years Payment Years Payment --------- ------- --------- ------- --------- ------- --------- ------- 1 $83.71 8 $10.83 14 $6.37 20 $4.59 2 42.07 9 9.68 15 5.98 21 4.40 3 28.18 10 8.75 16 5.63 22 4.22 4 21.24 11 7.99 17 5.33 23 4.05 5 17.08 12 7.36 18 5.05 24 3.90 6 14.30 13 6.83 19 4.81 25 3.76 7 12.32 P-BLX/IND(2/10)-NY Table 2 - Payments for Life with a 10 Year Period Certain Adjusted Adjusted Adjusted Age Mal...
ANNUITY TABLES. The Annuity Tables show the guaranteed minimum amount of monthly Annuity Payment for each $1,000 of Accumulated Value for each Fixed Annuity Option. We may, at the time of election of a Fixed Annuity Payment Option, offer more favorable rates in lieu of the guaranteed rates shown in the Annuity Tables. The amount of each Annuity Payment will depend on the Annuitant’s sex and age on the birthday nearest to the date the first Annuity Payment is due. We base the tables for the first four Options on the 1983 Table “A” Mortality Table projected for mortality improvement to the year 2000 using Projection Scale G and an interest rate of 4% a year. The table for Option 5 is based on an interest rate of 4% a year. On request we will furnish the amount of monthly Annuity Payment per $1,000 applied for any ages not shown. We will treat any Payee who is over age 85 at the date Annuity Payments begin as being age 85 on that date.
ANNUITY TABLES. 1 1. Definitions ..................................................................................................................................... 3
ANNUITY TABLES. The amounts set forth in the Annuity Tables for Annuity Options 1 through 4 and 8 depend on the age of the Annuitant or the Joint Annuitants on the Annuity Start Date. The Annuity Tables are modified to reflect (1) the Assumed Interest Rate for Variable Annuity Payments; or (2) the rate of interest in effect on the Annuity Start Date for Fixed Annuity Payments. The rate of interest for Fixed Annuity Payments is guaranteed not to be less than the Guaranteed Rate set forth on page 3. The Annuity Tables contain the amount of monthly Annuity Payment per $1,000 of Annuity Start Amount. The Annuity Tables state values for the exact ages shown. The values will be interpolated based on the exact age(s) of the Annuitant or Joint Annuitants on the Annuity Start Date. The basis of the Annuity Tables for Options 1 through 4 and 8 and the Assumed Interest Rate are set forth on page 3. The Annuity Table for Option 7 is determined without reference to the age of the Annuitant and is based upon the Assumed Interest Rate. Annuity Payments for Options 5 and 6 are computed without reference to the Annuity Tables. The Annuity Tables are used in accordance with generally accepted actuarial principles. ANNUITY PAYMENTS No Annuity Option can be selected that requires SBL to make Annuity Payments of less than $100.00. Each Annuity Option allows for making Annuity Payments annually, semiannually, quarterly or monthly. Annuity Payments due on a date other than a Valuation Date, are paid as of the end of the next following Valuation Date. ANNUITY UNITS On the Annuity Start Date, the amount of the first Variable Annuity Payment is divided by the Annuity Unit Value as of that date to determine the number of Annuity Units to be used in calculating subsequent Annuity Payments. If the Annuity Start Amount was allocated to more than one Subaccount, the first Variable Annuity Payment will be allocated to each Subaccount in the percentage corresponding to the allocation of Annuity Start Amount. The number of Annuity Units for each Subaccount is then found by dividing the amount of the first Variable Annuity Payment allocated to that Subaccount by the Annuity Unit Value for the Subaccount on the Annuity Start Date. The number of Annuity Units for the Subaccount then remains constant, unless a Transfer of Annuity Units is made. After the first Variable Annuity Payment, the dollar amount of each subsequent Annuity Payment is equal to the sum of the payment amount determined for each Subaccount...
ANNUITY TABLES. Annuity Tables A and B show the guaranteed minimum amount of monthly Annuity Payment per $1,000 of Annuity Start Amount for annuity options 1 through 4 that applies to the first Variable Annuity Payment and to each payment for Fixed Annuity Payments. The amount of each Annuity Payment for Annuity Options 1 through 4 will depend on the Annuitant's age on the Annuity Start Date. Tables A and B assume 1900 as the year of birth of the annuitant. To use Table A and B for an Annuitant born after 1900, the actual age is reduced by 0.1 (one-tenth) of a year for each year the year of birth exceeds 1900. For an annuitant with a birth year prior to 1900, the actual age is increased in a like manner. The actual age (in completed months) reduced or increased becomes the "adjusted age of the Annuitant" The guaranteed payout rate is then found by interpolating the Annuitant's adjusted age between the ages shown in Tables A and B. Tables A and B are based on the 1983 Table "A" mortality table and an interest rate of 3.5% per year. On request the Company will furnish the amount of monthly Annuity Payment per $1,000 applied for any ages not shown. For Annuity Options 5 and 6, annuity rates based on age are not used to calculate annuity payments. Annuity Payments for these options are computed without reference to the Annuity Tables.
ANNUITY TABLES. The rates in Tables 1 and 2 below are applied to the Account Value on the Annuity Date to compute the minimum amount of the annuity payment for the payout options described on the preceding page. Table 1 is used to compute the minimum annuity payment under Option 1 (Payments for a Period Certain). Table 2 is used to compute the minimum initial annuity payment under Option 2 (Payments for Life with a Period Certain), assuming a 10 year Period Certain. The rates used in each table are applied per $1,000 of Account Value, as of the Annuity Date. We used an interest rate of 1.0% per year in preparing Table 1, and an interest rate of 2.0% per year in preparing Table 2. Table 2 assumes 120 monthly payments certain. The annuity payments in Table 2 are based on the Annuitant's "adjusted age" and sex. The adjusted age is the Annuitant's age as of the Annuitant's last birthday prior to the date on which the first payment is due, adjusted as shown in the "Translation of Adjusted Age" table below. When we computed the amounts shown in Table 2, we used the Annuity 2000 valuation mortality table, with four-year age setbacks and projected mortality improvement factors (modified Scale G) projected from the age at annuitization to the age at which the probability of survival is needed in the calculation of the annuity payment.
ANNUITY TABLES. The following tables show the amount required to purchase a first monthly payment of $1.00. The tables are calculated using an Assumed Investment Rate of 3 1/2% per year for Variable Annuities and a mortality table constructed from the 1983 Table a. The amount applied to effect an annuity will be the Accumulation Value on the tenth date preceding the date the first payment is due. The amount of each payment will depend upon the Annuitant's age at the birthday nearest to the time the first payment is due. UITG-CB-585-96 QU1PXST9 10 DOLLAR AMOUNT REQUIRED TO PURCHASE AN ANNUITY WITH A FIRST MONTHLY PAYMENT OF $1.00 Options 1, 2 and 3 -- Single Life Annuities Monthly Payments Guaranteed -------------------------------------------------- Age None 60 120 180 Cash Refund 50 $233.36 $233.71 $234.82 $236.75 $240.70 51 229.87 230.25 231.45 233.54 237.65 52 226.30 226.72 228.01 230.29 234.54 53 222.65 223.10 224.51 226.98 231.36 54 218.93 219.41 220.93 223.62 228.12 55 215.11 215.64 217.28 220.22 224.82 56 211.21 211.78 213.57 216.77 221.45 57 207.23 207.84 209.79 213.28 218.02 58 203.15 203.81 205.94 209.76 214.53 59 198.98 199.70 202.03 206.21 210.96 60 194.73 195.51 198.06 202.64 207.33 61 190.38 191.24 194.04 199.05 203.63 62 185.95 186.90 189.97 195.47 199.85 63 181.45 182.50 185.86 191.89 195.99 64 176.88 178.03 181.73 188.35 192.18 65 172.25 173.52 177.57 184.84 188.25 66 167.56 168.95 173.41 181.39 184.24 67 162.81 164.34 169.24 178.00 180.31 68 158.01 159.70 165.09 174.70 176.25 69 153.16 155.01 160.95 171.49 172.11 70 148.26 150.30 156.85 168.40 168.10 71 143.31 145.57 152.79 165.44 163.94 72 138.33 140.83 148.81 162.62 159.70 73 133.32 136.10 144.91 159.98 155.66 74 128.31 131.39 141.11 157.51 151.45 75 123.30 126.73 137.44 155.22 147.15 Option 4 -- Joint and Last Survivor Annuity Younxxx Xxxxxxxxx: Number of Years Younger Than Older Annuitant Age of Older ----------------------------------------------------------------------------------------------- Annuitant 0 1 2 3 4 5 6 7 8 9 10 50 $256.95 $258.82 $260.70 $262.61 $264.53 $266.46 $268.39 $270.33 $272.26 $274.19 $276.10 51 253.87 255.79 257.73 259.69 261.67 263.66 265.66 267.66 269.65 271.64 273.61 52 250.69 252.67 254.67 256.69 258.73 260.78 262.84 264.90 266.96 269.00 271.04 53 247.42 249.45 251.52 253.60 255.70 257.81 259.93 262.06 264.18 266.29 268.39 54 244.06 246-15 248.27 250.41 252.58 254.75 256.94 259.13 261.31 263.49 265.66 55 240.59 242.75 244.93 247.14 249.36 251.60 253.85 256.11 258.36 260....
