We promise to provide the death benefit proceeds described in this rider as long as the contract and this rider are in force and all the terms and conditions of this rider are met. 1.2 WHAT IS THE BENEFIT This rider provides an earnings enhanced...
EXHIBIT 4(f)
EARNINGS ENHANCED DEATH BENEFIT RIDER
RIDER SECTION 1. GENERAL INFORMATION
1.1 WHAT IS OUR Our agreement with you includes this rider
AGREEMENT WITH YOU? as a part of the contract to which it is
attached. The provisions of the contract
apply to this rider unless they conflict
with the rider. If there is a conflict, the
rider provision will apply. The issue date
for this rider is the same issue date as
the contract to which it is attached.
We promise to provide the death benefit
proceeds described in this rider as long as
the contract and this rider are in force
and all the terms and conditions of this
rider are met.
1.2 WHAT IS THE BENEFIT This rider provides an earnings enhanced
PROVIDED BY THIS death benefit during the accumulation
RIDER? period. This rider must be used in
conjunction with at least one of the other
optional death benefit riders shown on the
data page.
1.3 WHEN WILL THIS RIDER This rider will terminate on the earliest
TERMINATE? of:
a.) the date death proceeds become
payable;
b.) the payout date;
c.) the date you surrender your
contract;
d.) the date no other optional death
benefit riders are in force; or
e.) the date you choose to end this
rider. You may end it by written
request.
Once this rider terminates, the charges for
it will cease and the benefit will no
longer be available.
RIDER SECTION 2. RIDER CHARGES
2.1 IS THERE A CHARGE FOR There is an annual charge for this rider.
THIS RIDER? The annual charge is determined by
multiplying the annual percentage charge
(shown on the contract data page) by the
average monthly contract value for the
prior year. The average monthly contract
value is equal to the sum of each monthly
contract value (the contract value as of
the same day of the month as the contract
issue date) divided by the number of
months.
During the accumulation period, this charge
will be deducted pro-rata from your
contract value on each contract
anniversary. This charge will also be
deducted upon full surrender of the
contract, payment of death proceeds or
selection of a payout option, if not on a
contract anniversary. The charge for a
partial year will be in proportion to the
number of days since the prior contract
anniversary.
RIDER SECTION 3. DEATH BENEFIT PROCEEDS
3.1 WHAT AMOUNT WILL BE PAID The amount that will be paid under this
AS DEATH BENEFIT PROCEEDS contract as death benefit proceeds is equal
DURING THE ACCUMULATION to the greater of:
PERIOD?
a.) the death benefit proceeds provided
by the contract to which this rider
is attached:
b.) the death benefit proceeds provided
by any other rider attached to the
contract; or
c.) the earnings enhanced death benefit
described in Rider Section 4 as of
the date due proof of death is
received.
The death benefit proceeds described above
will be reduced by any
applicable premium expense charges not
previously deducted.
RIDER SECTION 4. EARNINGS ENHANCED DEATH BENEFIT
4.1 HOW DO WE DETERMINE THE The earnings enhanced death benefit will be
EARNING ENHANCED DEATH determined as of the date due proof of
BENEFIT? death is received.
The earnings enhanced death benefit is
equal to your contract value plus an
additional amount that is calculated by
multiplying earnings (described below) by:
a.) 0.40 if the annuitant was age 70 or
younger on the contract issue date;
or
b.) 0.25 if the annuitant was age 71 or
older on the contract issue date.
In no event will the earnings enhanced
death benefit exceed an amount equal to
your contract value plus 100% of all
remaining purchase payments.
For purposes of calculating the earnings
enhanced death benefit described above:
a.) "earnings" are equal to the
contract value minus any applicable
charge for riders (accrued since
the prior contract anniversary) and
any remaining purchase payments;
and
b.) "remaining purchase payments" are
equal to:
1.) the sum of all net purchase
payments received;
2.) less the amount that each
partial withdrawal exceeds the
amount of earnings in the
contract immediately prior to
such withdrawal. Partial
withdrawals are assumed to be
taken from earning first, then
from purchase payments in the
order received.
If the resulting calculated earnings equal
zero or a negative number, earnings will be
zero.
CUNA Mutual Life Insurance Company
A Mutual Insurance Company
/s/ Xxxxxxx X. Kitchen
----------------------
President
