Contract
[Xxxx X. Xxx]
|
|||
Single
Premium Variable Annuity
Contract
- Nonparticipating
|
Contract
Number
[9999999]
|
||
Agency
[0001]
|
|||
Xxxxxxx
proceeds payable at maturity date. Death proceeds payable in event of
death of Annuitant prior to maturity date.
The
contract value of this contract may increase or decrease daily depending
on the investment experience of the subaccounts. There is no guaranteed
minimum contract value.
Kansas
City Life Insurance Company will pay the proceeds of this contract
according to the provisions on this and the following pages, all of which
are part of this contract. This contract is a legal contract between you
and Kansas City Life Insurance Company. READ YOUR CONTRACT
CAREFULLY.
|
|||
Signed
for Kansas City Life Insurance Company, a stock company, at its Home
Office, 0000 Xxxxxxxx, XX Xxx 000000, Xxxxxx Xxxx, XX
00000-9139.
|
|||
Secretary
|
President
|
||
10-Day
Right To Examine Contract
Please
examine this contract carefully. If you are not satisfied, you may return
the contract to us or to your registered representative within 10 days of
its receipt. If returned, the contract will be void from the beginning and
we will refund the contract value, plus the $30.00 annual administration
fee, if charged, as of the earlier of the date the returned contract is
received by us at our Home Office or the date the returned contract is
received by the registered representative who sold you the
contract.
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J182
GUIDE
TO CONTRACT PROVISIONS
Page
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Section
1:
|
Contract
Data
|
3
|
Section
2:
|
Definitions
|
7
|
Section
3:
|
Proceeds
|
8
|
Section
4:
|
Premium
|
10
|
Section
5:
|
Contract
Values
|
10
|
Section
6:
|
Other
Contract Provisions
|
12
|
6.1 Contract
|
||
6.2 Authority
to Change Contract
|
||
6.3 Modifications
|
||
6.4 Incontestability
|
||
6.5 Age
and Sex
|
||
6.6 Option
to Change Maturity Date
|
||
6.7 Contract
Termination
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||
6.8 Contract
Loans
|
||
6.9 Nonparticipating
|
||
6.10 Annual
Report
|
||
6.11 Basis
of Computation
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Section
7:
|
Control
of Contract
|
13
|
Section
8:
|
Variable
Account
|
14
|
Section
9:
|
Transfers
|
15
|
Section
10:
|
Payment
of Proceeds
|
16
|
A copy
of the original application and any additional benefits provided by rider or
endorsement
follow page 18.
J182
2
SECTION
1. CONTRACT DATA
|
CONTRACT
NUMBER
[9999999]
|
BENEFICIARY
As
stated in the application or in the
last
beneficiary designation filed with us
|
ANNUITANT
[Xxxx
X. Xxx]
|
OWNER
As
stated in the application or in the last
ownership
designation filed with us
|
CONTRACT
DATE
[June
01, 2009]
|
ISSUE
AGE
[35]
|
MATURITY
DATE
[June
01, 2039]
|
SEX
[Male]
|
MONTHLY
LIFE
INCOME
FACTOR
[$5.65
per $1,000 of
Maturity
Proceeds]
|
GUARANTEED
PAYMENT PERIOD
[120
Months]
|
|
MINIMUM
SINGLE PREMIUM
$10,000
|
|
J182
3
SECTION 1. CONTRACT DATA
(CONTINUED) DATE PREPARED:
[06/01/2009]
ANNUITANT CONTRACT NUMBER
[XXXX X.
XXX] [9999999]
FORM NO
|
BENEFIT DESCRIPTION
|
SINGLE PREMIUM
|
J182
|
Single
Premium
|
[$10,000]
|
Variable
Annuity Contract
|
||
–
Nonparticipating –
|
J182
4
SECTION
1. CONTRACT DATA
(CONTINUED) DATE
PREPARED: [06/01/2009]
ANNUITANT CONTRACT
NUMBER
[XXXX X.
XXX] [9999999]
EXPENSE
CHARGES
MORTALITY AND EXPENSE RISK
CHARGE
1.25%
(on an annual basis) of the average daily net assets of the variable
account.
GUARANTEED MINIMUM DEATH BENEFIT
MONTHLY EXPENSE CHARGE
Base Guaranteed Minimum Death Benefit –
No charge for this benefit.
Annual
Ratchet Guaranteed Minimum Death Benefit Option - 0.20% of the variable account
value on an annual basis.
Enhanced
Combination Guaranteed Minimum Death Benefit Option - 0.35% of the variable
account value on an annual basis.
ASSET-BASED ADMINISTRATION
CHARGE
0.15% (on an annual basis) of the
average daily net assets of the variable account.
ANNUAL ADMINISTRATION FEE
$30.00
at the beginning of each contract year. This fee will be waived if the contract
value is $50,000 or more at the beginning of the contract year.
SURRENDER CHARGE
PERCENTAGES
PREMIUM
YEARS
SINCE DEPOSIT
|
PERCENTAGE
|
1
|
8%
|
2
|
8%
|
3
|
7%
|
4
|
6%
|
5
|
5%
|
6
|
4%
|
7
|
3%
|
8
|
2%
|
9+
|
0%
|
After
eight years following the date we credit the premium, there will be no surrender
charge applicable.
To
determine the surrender charge, we first assume that your surrender or non-life
payment option election is from amounts (other than earnings) that can be
withdrawn without a surrender charge, then from other amounts (other than
earnings) and then from earnings. Once we have calculated the total
surrender charge amount we actually withdraw it from the fixed account and
subaccount in the same proportion that the withdrawal is being
made. In calculating the surrender charge, we do not include
earnings, although the actual withdrawal to pay the surrender charge may come
from earnings.
If you
surrender the contract, we will deduct the surrender charge from the contract
value in determining the cash surrender value. For a partial surrender, we will
deduct the surrender charge from the amount surrendered or from contract value
remaining after the amount requested is surrendered, according to your
instructions.
J182
5
SECTION
1. CONTRACT DATA
(CONTINUED) DATE
PREPARED: [06/01/2009]
ANNUITANT CONTRACT
NUMBER
[XXXX X.
XXX] [9999999]
Investment
Options
|
[KCL
Fixed Account
|
Subaccounts
that invest in the Kansas City Life Variable Annuity Separate
Account:
|
AIM
V.I. Capital Appreciation Fund – Series I Shares
AIM
V.I. Core Equity Fund – Series I Shares
AIM
V.I. Technology Fund – Series I Shares
American
Century VP Capital Appreciation Fund
American
Century VP Income & Growth Fund
American
Century VP International Fund
American
Century VP Mid Cap Value Fund
American
Century VP Ultra®
Fund
American
Century VP Value Fund
American
Century VP Inflation Protection Fund – Class II
Calamos
Growth and Income Portfolio
Dreyfus
Appreciation Portfolio – Initial Shares
Dreyfus
Developing Leaders Portfolio – Initial Shares
Dreyfus
Stock Index Fund, Inc. – Initial Shares
The
Dreyfus Socially Responsible Growth Fund, Inc. – Initial
Shares
Federated
Clover Value Fund II
Federated
High Income Bond Fund II
*Federated
Prime Money Fund II
Fidelity
VIP Contrafund®
Portfolio – Service Class 2
Fidelity
VIP Freedom Income Portfolio – Service Class 2
Fidelity
VIP Freedom 2010 Portfolio – Service Class 2
Fidelity
VIP Freedom 2015 Portfolio – Service Class 2
Fidelity
VIP Freedom 2020 Portfolio – Service Class 2
Fidelity
VIP Freedom 2025 Portfolio – Service Class 2
Fidelity
VIP Freedom 2030 Portfolio – Service Class 2
Franklin
Global Real Estate Securities Fund – Class 2
Franklin
Small-Mid Cap Growth Securities Fund – Class 2
Xxxxxxxxx
Developing Markets Securities Fund – Class 2
Xxxxxxxxx
Foreign Securities Fund – Class 2
JPMorgan
Insurance Trust Mid Cap Value Portfolio – Class 1 Shares
JPMorgan
Insurance Trust Small Cap Core Portfolio – Class 1 Shares
JPMorgan
Insurance Trust U.S. Equity Portfolio – Class 1 Shares
MFS
Growth Series – Initial Class Shares
MFS
Research Series – Initial Class Shares
MFS
Research Bond Series – Initial Class Shares
MFS
Strategic Income Series – Initial Class Shares
MFS
Total Return Series – Initial Class Shares
MFS
Utilities Series – Initial Class Shares
Xxxxxxxx
Capital Portfolio – Class 2
Xxxxxxxx
Communications and Information Portfolio – Class 2
Xxxxxxxx
Smaller-Cap Value Portfolio – Class 2
|
*
The Federated Prime Money Fund II subaccount is referred to in this
contract as the money market
subaccount.]
|
J182
6
Section
2: Definitions
The
following key words are used in this contract and are important in describing
it. Please refer back to these definitions as you read this
contract.
2.1 Accumulation
Unit
An
accounting unit used to calculate the variable account value. It is a measure of
the net investment results of each of the subaccounts.
2.2 Age
The age
on the Annuitant’s last birthday as of each contract
anniversary. This contract is issued at the age last birthday shown
in Section 1, Contract Data. If the contract date falls on the birthday of the
Annuitant, the age will be the age the Annuitant reaches on the contract
date.
2.3
Allocation Date
The
date on which the premium is allocated to the money market subaccount(s). This
date is the later of the date when all requirements are met and your application
is approved, or the date we receive the premium at the Home Office.
2.4 Annual
Administration Fee
A level
charge we deduct from the contract value at the beginning of each contract year
to compensate us for the costs associated with administration of the
contract.
2.5 Annuitant
The
person on whose life the annuity benefit for this contract is
based.
2.6 Asset-Based
Administration Charge
A
percentage charge we deduct on a daily basis from the assets of the subaccounts
to compensate us for the costs associated with administration of the
contract.
2.7 Beneficiary
The
person you have designated in the application (or in the last beneficiary
designation filed with us) to receive any proceeds payable under this contract
at the death of the Annuitant or owner.
2.8 Cash
Surrender Value
Equals
the contract value at the time of surrender less applicable surrender charges,
loan balance and any premium taxes payable.
2.9 Contract
Anniversary
The
same day and month as the contract date each year that the contract remains in
force.
2.10 Contract
Date
The
date from which we compute contract months, years and
anniversaries.
2.11 Contract
Value
The sum
of the variable account value and the fixed account value. These
values are described in more detail in Section 5, Contract Values.
2.12 Contract
Year
Any
period of twelve months starting with the contract date and each contract
anniversary thereafter.
2.13 Fixed
Account
An
account that is part of our general account. The investment performance of the
variable account has no impact on the fixed account.
2.14 Fixed
Account Value
The
contract value in the fixed account.
2.15 Guaranteed
Minimum Death Benefit
There
is a base Guaranteed Minimum Death Benefit provision. In addition, you may
choose one of two Guaranteed Minimum Death Benefit options which provide
different levels of death benefit guarantees. The two options have different
issue requirements and guaranteed minimum death benefit monthly expense charges
associated with them.
2.16 Maturity
Date
The
date shown in Section 1, Contract Data, when we will apply the contract value
under a life payment option (unless you have elected to receive the cash
surrender value as a lump sum payment or under a non-life payment option). For
qualified and non-qualified contracts, the latest maturity date is the later of
the contract anniversary following the Annuitant’s 85th birthday or the tenth
anniversary of the contract. However, qualified contracts may be
required to begin distributions at age 70 1/2.
2.17 Mortality
and Expense Risk Charge
A
charge we deduct from the assets of the subaccounts to compensate us for the
mortality and expense risks for the contract. We show this charge in Section 1,
Contract Data.
2.18 Net
Investment Factor
The
ratio of the subaccount performance of the current valuation day to the
immediately prior valuation day. The subaccount performance includes gains or
losses in the subaccounts, dividends paid, any capital gains or losses, any
taxes, mortality and expense risk charges, and asset-based administration
charges.
2.19 Owner
The
person entitled to exercise all rights and privileges provided in the
contract.
2.20 Premium
Year
The 12
month period following the date we credit the premium to your
contract.
7
2.21 Proceeds
The
total amount we are obligated to pay under the terms of this
contract.
2.22 Subaccounts
The
division of accounts making up the variable account. The assets of each
subaccount are invested in a corresponding portfolio of a designated mutual
fund. The subaccounts are shown in Section 1, Contract
Data.
2.23 Valuation
Day
Each
day on which the New York Stock Exchange is open for business.
2.24 Valuation
Period
The
interval of time commencing at the close of business on one valuation day and
ending at the close of business on the next valuation day.
2.25 Variable
Account
The
Kansas City Life Variable Annuity Separate Account. This is not part
of our general account. The variable account has subaccounts, each of
which is invested in a corresponding portfolio of a designated mutual
fund.
2.26 Variable
Account Value
The
total value of a contract allocated to subaccounts of the variable
account.
2.27 We,
Our, Us
Kansas
City Life Insurance Company.
2.28 Written
Notice
A
written notice or written request in a form satisfactory to us, which is signed
by the owner and received at the Home Office.
2.29 You,
Your
The
owner of this contract. The owner may be someone other than the
Annuitant.
Section
3: Proceeds
3.1
Types of Proceeds and Method of Payment
There
are various types of proceeds available under this contract. These
include:
·
|
Maturity
proceeds
|
·
|
Death
proceeds
|
·
|
Surrender
proceeds
|
·
|
Partial
surrender proceeds
|
·
|
Nursing
Home Benefit proceeds
|
We will
pay maturity, death or surrender proceeds either under a payment option (as
describe in Section 10, Payment of Proceeds) or in a lump sum. The amount of
proceeds payable will vary by the type of proceeds and the form of payment
selected. We will only pay partial surrender proceeds as a lump sum or under the
Systematic Partial Surrender Plan described in Section 5.7.
We have
the right to require that this contract be returned to us when maturity,
surrender or death proceeds are paid.
To the
extent permitted by law, proceeds will not be subject to any claims of your
creditors or the beneficiary's creditors.
3.2 Maturity
Proceeds
On the
maturity date we will pay the maturity proceeds to the Annuitant, if
living.
The
maturity proceeds will be equal to:
(1)
|
the
cash surrender value as described in Section 5.5 if you choose a lump sum
or payment options 1, 2, or 3: or
|
(2)
|
the
contract value as described in Section 5.1 if you choose payment options 4
or 5.
|
If you
fail to make another selection of a payment option or lump sum payment, we will
apply the contract value under payment option 4 with an installment refund
option of 120 months. This means that the monthly payments will continue for a
minimum of 120 months and as long thereafter as the Annuitant lives. If the
Annuitant dies before receiving a total of 120 monthly payments, we will
continue to make monthly payments to the beneficiary until a total of 120
payments have been made. The beneficiary may elect in writing to receive the
present value of any remaining guaranteed payments in a single sum.
3.3
|
Death
Proceeds
|
If the
Annuitant dies before the maturity date, the beneficiary will receive a death
benefit. The death benefit will be calculated depending upon which guaranteed
death benefit option is in effect on the contract at the date of death. There is
a Base Guaranteed Minimum Death Benefit, or at issue two enhanced options may be
chosen at an additional charge. The two Guaranteed Minimum
Death Benefit Options are:
·
|
The
Annual Ratchet Guaranteed Minimum Death Benefit Option;
and
|
·
|
The
Enhanced Combination Guaranteed Minimum Death Benefit
Option.
|
The
issue requirements and Guaranteed Minimum Death Benefit Monthly Expense Charge
vary for each Guaranteed Minimum Death Benefit Option. The monthly expense
charge for each option is shown in Section 1, Contract Data.
8
Under
the Base Guaranteed Minimum Death Benefit, we guarantee that the death benefit
will be the greater of:
(1)
|
premium
paid, proportionately adjusted for partial surrenders, less any
loan balance; or
|
(2)
|
the
contract value less any loan balance on the date we receive proof of the
Annuitant's death.
|
This
option is available at issue and at any time thereafter.
Under
the Annual Ratchet Guaranteed Minimum Death Benefit Option, we guarantee that
the death benefit for the Annuitant's attained age 80 and below will be the
greater of:
(1)
|
the
death benefit calculated under the Base Guaranteed Minimum Death Benefit;
or
|
(2)
|
the
highest contract value as of a contract anniversary during any point the
contract has been in effect on or before the Annuitant’s
death. Any loan balance will be deducted from such contract
value and the contract value will also be proportionately adjusted for
partial surrenders.
|
For the
Annuitant's attained age 80 and above we guarantee that the death
benefit will equal the greater of:
(a)
|
the
contract value at the time of death;
or
|
(b)
|
the
value of the Guaranteed Minimum Death Benefit on the contract anniversary
following the Annuitant’s 80th
birthday, calculated as described above, proportionately adjusted for
partial surrenders, less any loan
balance.
|
This
option is only available at issue of the contract and is only available to
Annuitants with issue ages of 75 or below.
Under
the Enhanced Combination Guaranteed Minimum Death Benefit Option, we guarantee
that the death benefit for the Annuitant's attained age 80 and below will be the
greater of:
(1)
|
the
death benefit calculated under the Base Guaranteed Minimum Death Benefit;
or
|
(2)
|
premium
paid, accumulated annually at 5% interest until the date of the
Annuitant’s death, proportionately adjusted for partial surrenders and
deducting any loan balance. We place a maximum on the amount
accumulated at 5% interest of two times the premium paid, less surrenders
and any loan balance; or
|
(3)
|
the
highest contract value as of a contract anniversary during any point the
contract has been in effect on or before the Annuitant’s
death. Any loan balance will be deducted from such contract
value and the contract value was also be proportionately adjusted for
partial surrenders.
|
For the
Annuitant's attained age 80 and above we guarantee that the death benefit will
equal the greater of:
(1) the
contract value at the time of death; or
|
(2)
|
the
value of the Guaranteed Minimum Death Benefit on the contract anniversary
following the Annuitant’s 80th
birthday, calculated as described above, proportionately adjusted for
partial surrenders, less any loan
balance.
|
This
option is only available at issue of the contract and is only available to
Annuitants with issue ages of 70 or below.
The
proportionate adjustment to the Guaranteed Minimum Death Benefit for partial
surrender is equal to a reduction in the Guaranteed Minimum Death Benefit by an
amount equal to the percentage of the partial surrender, including surrender
charges, as compared to the contract value immediately prior to the partial
surrender.
If you
have elected the Annual Ratchet or Enhanced Combination Guaranteed Minimum Death
Benefit Options, you may change the option at any time to the Base Guaranteed
Minimum Death Benefit. The effective date of change will be the
monthly anniversary day on or following the date we receive written notice of
the change.
If
required by the state in which this contract is delivered, we will pay interest
on single sum death proceeds from the date of the Annuitant's death until the
date of payment. Interest will be at an annual rate determined by us,
but never less than the rate required by the state in which this contract is
delivered.
3.4 Surrender
Proceeds
We will
pay proceeds of a full surrender as either a lump sum or under a payment option
as described in Section 10, Payment of Proceeds. Unless you specify otherwise,
we will pay full surrender proceeds as a lump sum. Surrender proceeds will be
equal to:
9
(1)
|
the
cash surrender value as described in Section 5.5 if you choose a lump sum
or payment options 1, 2 or 3: or
|
(2)
|
the
contract value as described in Section 5.1 if you choose payment options 4
or 5.
|
The
amount of proceeds payable under the Partial Surrender Provision is defined in
Section 5.6. We will only pay out partial surrender proceeds as a lump sum or
under the Systematic Partial Surrender Plan described in Section
5.7.
3.5
Nursing Home Benefit Proceeds
If we
receive satisfactory proof that the Owner is admitted to a licensed nursing
home, up to the full contract value may be paid out equally over at least a
three year period with no surrender charges. The Owner must be confined to a
licensed nursing home for at least 90 days before the surrender charges will be
waived.
3.6
Proceeds Applied Under Payment Options
If you
elect to receive proceeds under a payment option as described in Section 10, we
may require proof that the Annuitant is living.
If you
choose to receive a life income (payment options 4 or 5), this life income will
be purchased using the applicable monthly life income factor shown in Section
10. If the pay out rates in use by us at the time proceeds become payable are
more favorable than those shown in Section 10, we will provide a life income
using the more favorable rates.
Once a
monthly life income (payment options 4 or 5 as described in Section 10) becomes
payable, you may not make any election regarding payment of the proceeds other
than the right to change the beneficiary or contingent payee.
Section
4: Premium
4.1 Premium
Your
premium is payable at the Home Office or to a registered representative
authorized to receive premium. A receipt signed by us will be furnished on
request.
Section
5: Contract Values
5.1 Contract
Value
On the
contract date the contract value equals:
(1) premium
paid; less
|
(2)
|
the
annual administration fee shown
in Section 1, Contract
Data.
|
On any
day after the contract date the contract value is equal to the fixed account
value plus the variable account value. We will deduct the annual
administration fee shown in Section 1, Contract Data (if applicable), from the
contract value at the beginning of each contract year.
5.2 Fixed
Account Value
On the
contract date the fixed account value equals:
|
(1)
|
the
portion of the premium allocated to the fixed account;
less
|
|
(2)
|
the
portion of the annual administration fee allocated to the fixed
account.
|
On each
valuation day the fixed account value will be equal to:
A + B -
C - D - E
"A" is
the fixed account value on the preceding valuation date plus interest from the
preceding valuation day to the date of calculation.
“B” is
the amount of any transfers from the subaccounts to the fixed account, plus
interest on such transferred amounts from the effective dates of such transfers
to the date of calculation.
“C” is
the amount of any transfers from the fixed account to the subaccounts since the
preceding valuation day, plus interest on such transferred amount from the
effective dates of such transfers to the date of calculation.
“D” is
the amount of any partial surrenders and any applicable surrender charge from
the fixed account since the preceding valuation period, plus interest on these
surrendered amounts from the effective date of the partial surrenders to the
date of calculation.
“E” is
the portion of the annual administration fee shown in Section 1, Contract
Data.
5.3 Interest
Rate for Fixed Account Value
The
value in the fixed account is guaranteed to accumulate at a minimum effective
annual interest rate of 3%. We may credit a rate in excess of 3%
while the contract is in force and before the maturity proceeds have been
paid.
We may
change the interest rate credited to new deposits at any time. We
will not change the interest rate credited to funds in the fixed account more
often than once each year.
5.4 Variable
Account Value
The
variable account value is the sum of the values of the subaccounts under this
contract.
On the
contract date the value of each subaccount equals:
|
(1)
|
the
portion of the premium allocated to the subaccount;
less
|
|
(2)
|
the
portion of the annual administration fee, mortality and expense risk
charges and
|
10
|
|
asset-based
administration charge allocated to the
subaccounts.
|
5.5 Cash
Surrender
You may
surrender this contract for its cash surrender value at any time before the
earliest of:
(1)
|
your
death;
|
(2)
|
the
Annuitant's death; or
|
(3)
|
the
maturity date.
|
When
you surrender the contract you will receive 10% of the contract value without a
surrender charge, provided you have not exercised the partial surrender
provision or have not participated in the systematic partial surrender plan
during the current contract year.
The
cash surrender value of this contract is:
|
(1)
|
the
contract value at the time of surrender;
less
|
|
(2)
|
any
applicable surrender charge (shown in Section 1, Contract Data);
less
|
(3) any
loan balance; less
(4) any
premium taxes payable.
To
surrender the contract you must submit a written request to us. We have the
right to require that the contract be returned to us as well. We will determine
the cash surrender value on the date we receive these requirements.
We will
pay the cash surrender value in a lump sum unless you request payment under a
payment option.
Certain
federal income tax consequences may apply to a cash surrender of the
contract. You should consult your tax adviser before requesting a
surrender.
5.6 Partial
Surrender
You may
make a partial surrender at any time before the earliest of:
(1)
|
the
death of the Annuitant;
|
(2)
|
the
death of the Owner; or
|
(3)
|
the
maturity date.
|
You may
make a partial surrender of up to 10% of the contract value each contract year
without incurring a surrender charge. Any surrender in excess of 10% during a
contract year will be subject to the surrender charge.
We will
surrender the amount requested from the contract value on the day we receive
written notice for the surrender. We will deduct any applicable
surrender charge from the remaining contract value. If the remaining
contract value is less than the surrender charge, we will reduce the amount
surrendered. You may specify the specific amount to be surrendered
from certain subaccounts or the fixed account.
The
minimum distribution requested must be for at least $100. We will pay partial
surrender proceeds in a lump sum.
We will
pay you the amount requested and cancel units equal to the amount surrendered
from the subaccounts and/or the fixed account according to your
instructions. In the event that the amount to be surrendered exceeds
the subaccount(s) value and/or the fixed account value, we will process the
surrender for the amount available and contact you for further
instructions.
We
limit the option to elect a 10% free partial surrender to one per contract year,
even if the amount surrendered during that year is less than 10% of the contract
value. If you are participating in the systematic partial surrender
plan, that is considered the one free partial surrender for the contract
year.
Certain
federal income tax consequences may apply to partial surrenders from the
contract. You should consult your tax adviser before requesting any
partial surrenders.
5.7 Systematic
Partial Surrender
The
systematic partial surrender plan enables you to pre-authorize a periodic
exercise of the partial surrender right. If you enter into this plan,
you may instruct us to surrender a requested dollar amount from the contract on
a monthly, quarterly, semi-annual or annual basis.
The
minimum distribution requested must be for at least $100. The maximum
amount which can be surrendered under the plan without a surrender charge is 10%
of the contract value as of the time the systematic plan is
elected. In subsequent years the amount which can be surrendered
under the plan without a surrender charge is 10% of the contract value at the
beginning of each contract year.
We will
notify you if the total amount to be surrendered in a subsequent contract year
will exceed 10% of the contract value as of the beginning of such contract
year. Unless you instruct us to reduce the surrender amount for that
year so that it does not exceed the 10% limit, we will continue to process
surrenders for the designated amount. Once the amount of the surrender exceeds
the 10% limit, we will deduct the applicable surrender charge from the remaining
payments made during that contract year.
11
Any
other surrender in a year when the systematic partial surrender plan has been
utilized will be subject to the surrender charge.
We will
pay you the amount requested and cancel units equal to the amount surrendered
from the subaccounts and/or the fixed account according to your
instructions. In the event that the amount to be surrendered exceeds
the subaccount(s) value and/or the fixed account value, we will process the
surrender for the amount available and contact you for further
instructions.
The
option to elect the 10% free systematic partial surrender plan is limited to one
per contract year, even if the amount surrendered during that year is less than
10% of the contract value.
Systematic
partial surrenders may be discontinued by you at any time upon written request
to us at our Home Office.
Certain
federal income tax consequences may apply to systematic partial surrenders from
the contract. Therefore, you should consult with your tax adviser before
requesting any systematic partial surrenders.
5.8 Time
Period for Payment
We will
normally pay out any partial surrender, cash surrender value or death benefit
within seven days of receiving your written request or receipt and filing of due
proof of death. However, we have the right to suspend or delay the
date of any surrender, partial surrender or death benefit payment from the
subaccounts for any period during which:
|
(1)
|
the
New York Stock Exchange is closed, other than customary weekend and
holiday closings, or trading on the New York Stock Exchange is restricted
as determined by the Securities and Exchange Commission;
or
|
|
(2)
|
the
Securities and Exchange Commission permits by an order the postponement
for the protection of contract owners;
or
|
|
(3)
|
The
Securities and Exchange Commission determines that an emergency exists
that would make the disposal of securities held in the variable account or
the determination of the value of the variable account’s net assets not
reasonably practicable.
|
|
For any
surrender, partial surrender or transfer from the fixed account, we have the
right to postpone making a payment to you up to six months from the date of
written notice. If payment is not made within 30 days after receipt of
documentation necessary to complete the transaction (or such shorter period
required by a particular jurisdiction), we will add interest to the amount paid
from the date we receive documentation at 3% (or such higher rate required for a
particular state).
Section
6: Other Contract Provisions
6.1 Contract
This
contract and application are the entire contract. This contract is
issued in consideration of the application and payment of the
premium. We will attach a copy of the application when we issue the
contract. In the absence of fraud, all statements made in the
application either by you or by the Annuitant will be considered representations
and not warranties. We may use statements to contest a claim or the
validity of this contract only if they are contained in the
application.
6.2 Authority
to Change Contract
No
change or waiver of any provisions of this contract will be valid unless made in
writing by us and signed by our President, Vice President, Secretary or
Assistant Secretary. No agent or other person has authority to change
or waive any provision of your contract.
6.3 Modifications
Upon
notice to you, we may modify the contract, but only if such modification is
necessary to:
|
(1)
|
make
the contract or the variable account comply with any law or regulation
issued by a governmental agency to which we are subject;
or
|
|
(2)
|
assure
continued qualification of the contract under the Internal Revenue Code or
other federal or state laws relating to retirement annuities or variable
annuity contracts; or
|
|
(3)
|
reflect
a change in the operation of the variable account;
or
|
|
(4)
|
provide
additional variable account and/or fixed accumulation
options.
|
We have
the right to modify the contract as necessary to attempt to prevent the contract
owner from being considered the owner of the assets of the variable
account.
In the
event of any such modification, we will issue an appropriate endorsement to the
contract, if required.
6.4 Incontestability
After
this contract has been in force during the Annuitant's lifetime for two years
from the contract date, we cannot contest this contract.
6.5 Age
and Sex
This
contract is issued at the Annuitant's age shown in Section 1, Contract Data. If
the contract date falls
12
on the
birthday of the Annuitant, the age will be the age the Annuitant reaches on the
contract date.
If the
Annuitant's age or sex has been incorrectly stated, the benefits under this
contract will be those the proceeds applied would have purchased for the correct
age and sex.
If the
incorrect statement is not discovered until after payments have
begun:
|
(1)
|
any
overpayment by us will be deducted from the next succeeding payment or
payments as they fall due; or
|
|
(2)
|
any
underpayment by us will be paid in one sum to the
Annuitant.
|
In
either case, interest will be payable at the rate of 3% per year compounded
annually.
6.6 Option
to Change Maturity Date
You may
elect a new maturity date at any time by making a written notice to us subject
to the following limitations:
(1)
|
we
must receive your written notice at least 30 days before the current
maturity date;
|
|
(2)
|
the
requested maturity date must be a date that is at least 30 days after we
receive your written notice;
|
|
(3)
|
the
requested maturity date cannot exceed the later of the contract
anniversary following the Annuitant’s 85th birthday, or the tenth
anniversary of the contract; and
|
|
(4)
|
the
requested maturity date must be no later than any earlier maturity date
required by law.
|
We may
require that the contract be submitted for endorsement to show the
change.
If you
elect a new maturity date, the monthly life income factor will be as shown in
Table B of Section 10, Payment of Proceeds.
6.7 Contract
Termination
We have
the right to terminate this contract and pay the cash surrender value if all of
the following occur simultaneously:
(1)
|
the
contract value is less than $2,000;
and
|
(2)
|
premium
paid, less any partial surrenders, is less than
$2,000.
|
We will
mail notice to you of our intention to terminate the contract at least six
months in advance. We have the right to terminate on the date
specified in the notice unless the contract value has increased to the amount
specified above.
6.8 Contract
Loans
If your
contract has been purchased as a tax sheltered annuity as described in Section
403(b) of the Internal Revenue Code, as amended, that is not part of a plan that
is subject to the Employee Retirement Income Security Act of 1974, you will have
the option of taking a contract loan at any time after the first contract year.
If your contract has been purchased in this tax sheltered market, an endorsement
attached to this contract will detail the loan requirements.
6.9 Nonparticipating
This
contract will not participate in any of our profits, losses or surplus
earnings.
6.10 Annual
Report
At
least annually we will send you a report showing the following:
(1) the
contract value;
(2) the
cash surrender value; and
(3) any
other information required by law orregulation.
Upon
receiving your written notice, we will send you a report at any other time
during the year for a reasonable charge as determined by us.
6.11 Basis
of Computation
Our
calculation of guaranteed fixed account values are based on an interest rate of
3% per year. The reserves and guaranteed fixed account values will at
no time be less than the minimum required by law of the state in which this
contract is delivered.
Section
7: Control of Contract
7.1 Ownership
The
Annuitant is the owner unless otherwise provided in the
application. As owner, you may exercise every right provided by your
contract. These rights and privileges end at the Annuitant’s death.
The
consent of the beneficiary is required to exercise these rights if you have not
reserved the right to change the beneficiary.
7.2 Change
of Ownership
You may
change the ownership of this contract by giving written notice to
us. The change will be effective on the date your written notice was
signed but will have no effect on any payment made or other action taken by us
before we receive it. We may require that the contract be submitted
for endorsement to show the change.
Certain
federal income tax consequences may apply to a change of ownership on
non-qualified contracts.
13
You
should consult with your tax adviser before requesting any change of ownership
on a non-qualified contract.
7.3 Assignment
An
assignment is a transfer of some or all of your rights under this
contract. No assignment will be binding on us unless made in writing
and filed at our Home Office. We assume no responsibility for the
validity or effect of any assignment.
Certain
federal income tax consequences may apply to an assignment. You
should consult with your tax adviser before requesting any
assignment.
7.4 Beneficiary
The
beneficiary is shown on the application or in the last beneficiary designation
filed with us. Death proceeds will be paid to the beneficiary except
as provided in this Section.
If any
beneficiary dies before the Annuitant, that beneficiary's interest will pass to
any other beneficiaries according to their respective interest.
If all
beneficiaries die before the Annuitant, we will pay the death proceeds to you,
if living, otherwise to your estate or legal successors.
Unless
you have waived the right to do so, you may change the beneficiary by filing a
written notice in a form satisfactory to us. In order to be
effective, the written notice for change of beneficiary must be signed while
your contract is in force and the Annuitant is living. The change
will be effective on the date your written notice was signed but will have no
effect on any payment made or other action taken by us before we receive
it.
The
interest of any beneficiary will be subject to:
|
(1)
|
any
assignment of this contract which is binding on us;
and
|
|
(2)
|
any
optional settlement agreement in effect at the Annuitant’s
death.
|
7.5 Simultaneous
Death of Beneficiary and Annuitant
We will
pay death proceeds as though the beneficiary died before the Annuitant
if:
|
(1)
|
the
beneficiary dies at the same time as or within 15 days of the Annuitant’s
death; and
|
(2)
|
we
have not paid the proceeds to the beneficiary within this 15-day
period.
|
Section
8: Variable Account
8.1 General
Description
The
name of the variable account is the Kansas City Life Variable Annuity Separate
Account. The income, gains and losses (whether or not realized) from assets
allocated to the variable account are credited or charged against the variable
account without regard to our other income, gains or losses. The portion of the
assets of the variable account equal to the reserves and other contract
liabilities with respect to the variable account will not be chargeable with
liabilities arising out of any other business we may contract.
The
assets of the variable account are segregated by investment options, thus
establishing a series of subaccounts within the variable account.
When
permitted by law, we have the right to:
(1) create
new variable accounts;
(2) combine
variable accounts;
|
(3)
|
remove,
combine or add subaccounts and make the new subaccounts available to you
at our discretion;
|
|
(4)
|
substitute
shares of another portfolio of the funds or shares of another investment
company for those of the funds;
|
(5) add
new portfolios to the funds;
(6) de-register
the variable account under theInvestment Company Act of 1940 ifregistration is no longer
required;
|
(7)
|
make
any changes required by the Investment Company Act of 1940;
and
|
(8) operate
the variable account as a managedinvestment company under the InvestmentCompany Act of 1940 or any other
formpermitted by
law.
If a
change is made, we will send you a revised prospectus and any notice required by
law. If required, we would first seek the approval of the Securities
and Exchange Commission, and when required, the appropriate state regulatory
authorities, before making a change in the investment options.
8.2 Subaccounts
The
subaccounts are separate investment accounts. They are named in
Section 1, Contract Data. The assets of each subaccount are invested in a
corresponding portfolio of a designated mutual fund.
Subaccount
values will fluctuate in accordance with the investment experience of the
applicable portfolio of the fund held within the subaccount.
The
subaccount value is equal to the number of accumulation units credited to the
subaccount times the appropriate accumulation unit value.
The
number of accumulation units to be purchased or redeemed in a transaction is
found by dividing:
(1) the
dollar amount of the transaction; by
14
(2)
|
the
subaccount’s unit value for the valuation period for that transaction. The
number of units in any subaccount will be increased at the end of the
valuation period by:
|
(a)
|
any
transfers to the subaccount from another subaccount or from the fixed
account during the current valuation period;
and
|
(b)
|
the
amount of any variable account bonus that may be credited on a monthly
anniversary.
|
The
number of units in any subaccount will be decreased at the end of the valuation
period by:
(1)
|
any
amounts transferred from the subaccount to another subaccount or the fixed
account;
|
(2)
|
amounts
surrendered during the current valuation period;
or
|
(3)
|
the
cost of the monthly guaranteed minimum death benefit expense charge, if
any, that is deducted on the monthly anniversary
day.
|
The
number of units in any subaccount will also be reduced at the beginning of each
contract year by a pro-rata share of the $30 annual administration fee. The
annual administration fee will reduce the subaccount units in proportion to each
subaccount’s value to the entire contract value.
The
value of an accumulation unit for each of the subaccounts was arbitrarily set at
$10 when the first investments were bought. The value for any later
valuation period is equal to:
A x B
“A” is
equal to the subaccount’s accumulation unit value for the end of the immediately
preceding valuation day.
“B” is
equal to the net investment factor for the most current valuation
day.
The net
investment factor equals:
X - Z
Y
“X”
equals the sum of:
|
(1)
|
the
net asset value per accumulation unit held in the subaccount at the end of
the current valuation day; plus
|
|
(2)
|
the
per accumulation unit amount of any dividend, or capital gain distribution
on shares held in the subaccount during the current valuation day;
less
|
|
(3)
|
the
per accumulation unit amount of any capital loss distribution on shares
held in the subaccount during the current valuation day;
less
|
|
(4)
|
the
per accumulation unit amount of any taxes or any amount set aside during
the valuation day as a reserve for
taxes.
|
“Y”
equals the net asset value per accumulation unit held in the subaccount as of
the end of the immediately preceding valuation day.
“Z”
equals the charges deducted from the subaccount on each valuation period for the
asset-based administration charge and the mortality and expense risk
charge.
The
value of the subaccount may increase, decrease, or remain the same.
8.3 Allocations
This
contract provides investment options for the amount in the contract
value. We allocate amounts placed in the contract value to the
subaccounts of the variable account and to the fixed account at your direction.
The premium allocation percentages are indicated in the application for this
contract.
Allocation
percentages must be zero or a whole number not greater than 100. The sum of the
premium allocation percentages must equal 100.
We have
the right to limit the number of subaccount allocations in effect at any one
time.
8.4 Deductions
Made From Subaccounts
We
deduct the mortality and expense risk charge and the asset-based administration
charge from each of the subaccounts on each valuation day. These charges are
shown in Section 1, Contract Data.
Section
9: Transfers
9.1 Transfer
Fees
Six
transfers per year may be made from subaccounts and the fixed account free of
charge. Any unused free transfers do not carry over to the next
contract year. We will charge a $25 transfer fee on any additional
transfers during a contract year. For the purpose of assessing a fee,
we consider each written request or telephone request to be one
transfer. We will deduct the processing fee from the amount being
transferred, or from the remaining contract value, according to your
instructions.
9.2 Transfers
From Subaccounts
After
the 10-day right to examine period and prior to the maturity date, you may
transfer all or a part of an amount from the value in any subaccount of the
variable account to one or more of the subaccounts
15
of the
variable account or to the fixed account. The minimum amount that you
may transfer is the lesser of:
(1) $250;
or
|
(2)
|
the
total value in that subaccount on that
date.
|
We will
treat any transfer that would reduce the amount in a subaccount below $250 as a
transfer request for the entire amount in that subaccount.
A
transfer fee may apply as described in Section 9.1, Transfer Fees.
An
excessive number of transfers, including short-term “market timing” transfers,
may adversely affect the performance of the underlying fund in which a
subaccount invests. If, in our sole opinion, a pattern of excessive transfers
develops, we have the right not to process a transfer request. We also have the
right not to process a transfer request when the sale or purchase of shares of a
fund is not reasonably practicable due to actions taken or limitations imposed
by the fund.
We may
suspend or modify this transfer privilege at any time.
9.3 Transfers
From The Fixed Account
At your
request you may also transfer an amount from the unloaned value in the fixed
account to one or more subaccounts of the variable account. We must
receive the request in writing or other form acceptable to us. You
may make only one transfer from the fixed account each contract
year.
We will
not transfer more than 25% of the unloaned fixed account value, unless the
balance after the transfer is less than $250, in which case the entire amount
will be transferred.
A
transfer fee may apply as described in Section 9.1, Transfer Fees.
We may
suspend or modify this transfer privilege at any time.
Section
10: Payment of Proceeds
10.1 Payment
Options
You may
apply death benefit, maturity or full surrender proceeds of $2,000 or more to
any of the following options:
|
Option
1. Interest Payments
|
|
We
will make guaranteed interest payments to the payee annually or monthly as
elected. We will pay interest on the proceeds at the guaranteed
rate of 3.0% per year and this may be increased by additional interest
paid annually. The proceeds and any unpaid interest may be
withdrawn in full at any time.
|
|
Option
2. Installments of a Specified
Amount
|
|
We
will make annual or monthly payments until the proceeds plus interest are
fully paid. We will pay interest on the proceeds at the
guaranteed rate of 3.0% per year and this may be increased by additional
interest. The present value of any unpaid installments may be
withdrawn at any time.
|
|
Option
3. Installments For a Specified
Period
|
|
Payment
of the proceeds may be made in equal annual or monthly payments for a
specified number of years. We will pay interest on the proceeds
at the guaranteed rate of 3.0% per year and this may be increased by
additional interest. The present value of any unpaid
installments may be withdrawn at any time. The amount of each
payment is shown in Table A.
|
|
Option
4. Life Income
|
|
We
will pay an income during the payee's lifetime. A minimum
guaranteed payment period may be chosen. We will continue
payments under the Installment Refund option until the total income
payments paid equal the proceeds applied. The amount of each
payment is shown in Table B.
|
|
Option
5. Joint and Survivor
Income
|
|
We
will pay an income during the lifetime of two persons and will continue to
pay the same income as long as either person is living. The
minimum guaranteed payment period will be ten years. The amount
of each payment is shown in Table
C.
|
If the
payout rates in use by us at the time proceeds become payable are more favorable
than those shown in options 4 and 5, we will provide a life income using the
more favorable rates.
10.2 Payee
The
payee is the person receiving proceeds under a payment option. The
payee can be you, the Annuitant or a beneficiary. We will require
satisfactory proof of the payee's age under options 4 and 5.
The
contingent payee is the person named to receive proceeds if the payee is not
alive.
10.3 Minimum
Payments
The
payment under any payment option must be at least $50. We may make
payments less frequently so that each payment is at least $50.
10.4 Choice
of Options
You may
choose an option by written notice during the Annuitant’s
lifetime. If an option for payment of
16
proceeds
is not in effect at the
Annuitant’s death, the beneficiary may make a choice.
10.5 Availability
of Options
We have
the right to restrict these options if you designate an executor, administrator,
trustee, corporation, partnership or association as the payee.
10.6 Operative
Date
The
first payment will be payable on the payment mode following the date proceeds
become payable.
10.7 Death
of Payee
At the
death of the payee, any payments remaining will be paid according to the terms
of the option chosen for payment of proceeds, unless the contingent payee elects
in writing to receive the present value of any remaining guaranteed payments in
a single sum.
If a
contingent payee has not been named or does not survive the payee, the following
amounts will be paid in one sum to the estate of the payee:
|
(1)
|
any
amount left on deposit under option 1;
and
|
|
(2)
|
the
present value of any remaining guaranteed payments under options 2 through
5.
|
If you
have not named a contingent payee, or if every contingent payee named by you
dies before the payee, you may, by written notice, name a new contingent payee.
The new contingent payee will receive any amount that would otherwise have been
payable to the payee's estate.
10.8 Claims
of Creditors
To the
extent permitted by law, proceeds will not be subject to any claims of a payee's
creditors.
J182
17
TABLE A - INSTALLMENT
OPTION*
for
Each $1,000 of Proceeds Applied
Term
of
Years
|
Annual
|
Monthly
|
Term
of
Years
|
Annual
|
Monthly
|
Term
of
Years
|
Annual
|
Monthly
|
1
|
$1000.00
|
$84.47
|
11
|
$104.93
|
$8.86
|
21
|
$62.98
|
$5.32
|
2
|
507.39
|
42.86
|
12
|
97.54
|
8.24
|
22
|
60.92
|
5.15
|
3
|
343.23
|
28.99
|
13
|
91.29
|
7.71
|
23
|
59.04
|
4.99
|
4
|
261.19
|
22.06
|
14
|
85.95
|
7.26
|
24
|
57.33
|
4.84
|
5
|
211.99
|
17.91
|
15
|
81.33
|
6.87
|
25
|
55.76
|
4.71
|
6
|
179.22
|
15.14
|
16
|
77.29
|
6.53
|
26
|
54.31
|
4.59
|
7
|
155.83
|
13.16
|
17
|
73.74
|
6.23
|
27
|
52.97
|
4.47
|
8
|
138.31
|
11.68
|
18
|
70.59
|
5.96
|
28
|
51.74
|
4.37
|
9
|
124.69
|
10.53
|
19
|
67.78
|
5.73
|
29
|
50.60
|
4.27
|
10
|
113.82
|
9.61
|
20
|
65.26
|
5.51
|
30
|
49.53
|
4.18
|
TABLE B - LIFE INCOME
OPTIONS*
Monthly
Income for Each $1,000 of Proceeds Applied
Age
|
MALE
Minimum
Guaranteed Payment Period
|
FEMALE
Minimum
Guaranteed Payment Period
|
||||||
None
|
120
Months
|
240
Months
|
Install-
ment
Refund
|
None
|
120
Months
|
240
Months
|
Install-
ment
Refund
|
|
50
|
$4.23
|
$4.19
|
$4.06
|
$4.05
|
$3.89
|
$3.87
|
$3.81
|
$3.80
|
51
|
4.31
|
4.26
|
4.11
|
4.11
|
3.95
|
3.93
|
3.86
|
3.84
|
52
|
4.38
|
4.33
|
4.17
|
4.17
|
4.01
|
3.98
|
3.91
|
3.89
|
53
|
4.46
|
4.40
|
4.22
|
4.23
|
4.07
|
4.04
|
3.96
|
3.95
|
54
|
4.55
|
4.48
|
4.28
|
4.29
|
4.13
|
4.11
|
4.01
|
4.00
|
55
|
4.63
|
4.56
|
4.33
|
4.36
|
4.20
|
4.17
|
4.07
|
4.06
|
56
|
4.73
|
4.65
|
4.39
|
4.43
|
4.28
|
4.24
|
4.12
|
4.12
|
57
|
4.83
|
4.74
|
4.45
|
4.51
|
4.36
|
4.32
|
4.18
|
4.18
|
58
|
4.94
|
4.83
|
4.51
|
4.59
|
4.44
|
4.40
|
4.24
|
4.25
|
59
|
5.05
|
4.93
|
4.57
|
4.67
|
4.53
|
4.48
|
4.30
|
4.32
|
60
|
5.17
|
5.04
|
4.63
|
4.75
|
4.63
|
4.57
|
4.37
|
4.39
|
61
|
5.30
|
5.15
|
4.69
|
4.85
|
4.73
|
4.66
|
4.43
|
4.47
|
62
|
5.44
|
5.27
|
4.75
|
4.94
|
4.84
|
4.76
|
4.50
|
4.55
|
63
|
5.60
|
5.39
|
4.81
|
5.04
|
4.95
|
4.86
|
4.56
|
4.64
|
64
|
5.76
|
5.52
|
4.86
|
5.15
|
5.08
|
4.97
|
4.63
|
4.73
|
65
|
5.93
|
5.65
|
4.92
|
5.26
|
5.21
|
5.09
|
4.69
|
4.83
|
66
|
6.12
|
5.79
|
4.97
|
5.37
|
5.35
|
5.21
|
4.76
|
4.93
|
67
|
6.32
|
5.94
|
5.02
|
5.50
|
5.50
|
5.34
|
4.82
|
5.04
|
68
|
6.53
|
6.09
|
5.06
|
5.62
|
5.66
|
5.47
|
4.88
|
5.15
|
69
|
6.76
|
6.24
|
5.11
|
5.76
|
5.84
|
5.61
|
4.94
|
5.27
|
70
|
7.00
|
6.40
|
5.14
|
5.90
|
6.02
|
5.76
|
5.00
|
5.39
|
71
|
7.26
|
6.56
|
5.18
|
6.04
|
6.23
|
5.92
|
5.05
|
5.53
|
72
|
7.53
|
6.72
|
5.21
|
6.20
|
6.45
|
6.08
|
5.10
|
5.67
|
73
|
7.83
|
6.88
|
5.24
|
6.36
|
6.70
|
6.25
|
5.14
|
5.81
|
74
|
8.15
|
7.05
|
5.26
|
6.53
|
6.96
|
6.43
|
5.18
|
5.97
|
75
|
8.49
|
7.22
|
5.28
|
6.70
|
7.24
|
6.61
|
5.22
|
6.14
|
TABLE C - JOINT AND SURVIVOR
OPTION*
Monthly
Income - Ten Year Guaranteed Payment Period
for
Each $1,000 of Proceeds Applied
Male
|
Female
Age
|
|||||
Age
|
50
|
55
|
60
|
65
|
70
|
75
|
50
|
$3.31
|
$3.37
|
$3.43
|
$3.49
|
$3.53
|
$3.56
|
55
|
3.47
|
3.55
|
3.63
|
3.70
|
3.76
|
|
60
|
3.68
|
3.80
|
3.91
|
4.00
|
||
65
|
3.97
|
4.15
|
4.31
|
|||
70
|
4.41
|
4.68
|
||||
75
|
5.08
|
*Amounts
not shown for available options will be furnished on request.
J182
18
Single
Premium Variable
Annuity
Contract
Nonparticipating
Xxxxxxx
proceeds payable at maturity date. Death proceeds payable in event of
death of Annuitant prior to maturity date.
If you
have any questions concerning this contract or if anyone suggests that you
change or replace this contract, please contact your registered representative
or the Home Office of the Company.
J182