The values shown are based on the following assumptions:
‰ owner age at issue = 60
‰ On the contract issue date, the GMIB value is equal to the initial purchase payment increased by 5%.
Example 2
앑 No WithdrawalsThe values shown are based on the following assumptions:
‰ owner age at issue = 60
‰ annuitant = same as owner
‰ initial purchase payment = $100,000
‰ death benefit = Basic Death Benefit
Contract Year
1 61 $100,000 $0 $104,916 $105,000 $ 0 $104,916
2 62 110,074 110,250 0 110,074
‰ On the contract issue date, the GMIB value is equal to the initial purchase payment increased by 5%.
‰ On the first day of each contract year, the GMIB value is increased by 5%.
‰ At the end of the tenth contract year, the GMIB can be exercised and begin an income stream. The Monthly Income Benefit value of $831 is the monthly income amount that would be received by annuitizing the GMIB value of
$162,889 for a male age 70 for a life income annuity option.
Example 3
앑 Withdrawals Reducing the GMIB Value Dollar for DollarThe values shown are based on the following assumptions:
‰ owner age at issue = 60
‰ annuitant = same as owner
‰ initial purchase payment = $100,000
‰ death benefit = Basic Death Benefit
Contract Year
2 62 5,250 104,833 105,000 0 104,833
3 63 5,250 104,744 105,000 0 104,744
4 64 5,250 104,651 105,000 0 104,651
5 65 5,250 104,552 105,000 0 104,552
6 66 5,250 104,448 105,000 0 104,448
7 67 5,250 104,337 105,000 0 104,337
8 68 5,250 104,221 105,000 0 104,221
9 69 5,250 104,098 105,000 0 104,098
10 70 5,250 103,968 105,000 535 103,968
‰ On the contract issue date, the GMIB value is equal to the initial purchase payment increased by 5%.
‰ On the first day of each contract year, the GMIB value is increased by 5%.
‰ Beginning in the second contract year, withdrawals of the GMIB interest are taken; the GMIB value is reduced dollar for dollar since the withdrawals are equal to the GMIB interest.
‰ The contract value is reduced by the amount of the withdrawals. The return of premium aspect of the death benefit is reduced proportionately for the withdrawals.
‰ At the end of the tenth contract year, the GMIB can be exercised and begin an income stream. The Monthly Income Benefit value of $535 is the monthly income amount that would be received by annuitizing the GMIB value of
$105,000 for a male age 70 for a life income annuity option.
Example 4
앑 Annual ResetThe values shown are based on the following assumptions:
‰ owner age at issue = 60
‰ annuitant = same as owner
‰ initial purchase payment = $100,000
‰ death benefit = Basic Death Benefit
Contract Year
At Issue 60 $100,000 $0 $100,000 $105,000 $0 $100,000
1 61 106,867 106,867 106,867
‰ On the contract issue date, the GMIB value is equal to the initial purchase payment increased by 5%.
‰ On the first day of each contract year, the GMIB value is increased by 5%.
‰ Each contract anniversary, prior to the annuitant attaining age 81, if your contract value is greater than your GMIB value, we will reset your GMIB value to equal your contract value (unless you instruct otherwise by written request).
The GMIB value will then be increased by 5%.
‰ At the end of the tenth contract year from the last reset, the GMIB can be exercised and begin an income stream.
Example 5
앑 Additional Purchase PaymentsThe values shown are based on the following assumptions:
‰ owner age at issue = 60
‰ annuitant = same as owner
‰ initial purchase payment = $100,000
‰ death benefit = Basic Death Benefit
Contract Year
1 61 $100,000 $0 $104,916 $105,000 $0 $104,916
2 62 25,000 136,303 136,500 136,303
‰ On the contract issue date, the GMIB value is equal to the initial purchase payment increased by 5%.
‰ On the first day of each contract year, the GMIB value is increased by 5%.
‰ A purchase payment of $25,000 is made at the beginning of contract years two, three and four.
‰ The GMIB value in contract year two is increased by the amount of the purchase payment.
‰ The purchase payments in contract years three and four are not included in the GMIB value, although the GMIB value increases due to the automatic reset.
‰ At the end of the tenth contract year from the last reset, the GMIB can be exercised and begin an income stream.
Example 6
앑 60% GMIB Value at Age 90The values shown are based on the following assumptions:
‰ owner age at issue = 75
‰ annuitant = same as owner
‰ initial purchase payment = $125,000
‰ rider effective date = contract issue date
‰ death benefit = Basic Death Benefit
Contract Year
1 76 $125,000 $6,250 $117,590 $125,000 $ 0 $118,702
2 77 6,250 110,199 125,000 0 112,342
3 78 6,250 102,827 125,000 0 105,917
4 79 6,250 95,473 125,000 0 99,422
5 80 6,250 88,098 125,000 0 92,853
6 81 6,250 80,742 125,000 0 86,200
7 82 6,250 73,405 125,000 0 79,457
8 83 6,250 66,086 125,000 0 72,615
9 84 6,250 58,786 125,000 0 65,663
10 85 6,250 51,504 125,000 1,142 58,587
Contract Year
11 86 $6,250 $44,241 $125,000 $1,199 $51,369
12 87 6,250 36,997 125,000 1,259 43,987
13 88 6,250 29,770 125,000 1,324 36,406
14 89 6,250 22,563 125,000 1,393 28,575
15 90 6,250 75,000 125,000 0 75,000
‰ On the contract issue date, the GMIB value is equal to the initial purchase payment increased by 5%.
‰ Each contract year the GMIB value is increased by 5%.
‰ Withdrawals of the allowable GMIB amount are taken each contract year.
‰ At the end of the fifteenth contract year, the owner elects not to annuitize the GMIB value. Because the contract value is below 60% of the GMIB value in this example, the contract value is increased to 60% of the GMIB value at age 90.
The GMIB terminates.
Example 7
앑 Impact of Contingent Deferred Sales Charge (CDSC) When 5% Withdrawn is Greaterthan Free Withdrawal Allowance
The values shown are based on the following assumptions:
‰ owner age at issue = 60
‰ annuitant = same as owner
‰ initial purchase payment = $100,000
‰ rider effective date = contract issue date
‰ death benefit = Basic Death Benefit Contract Year
1 61 $100,000 $5,000 $82,352 $100,000 $94,288
2 62 5,000 66,820 100,000 87,740
3 63 5,000 53,150 100,000 80,219
4 64 5,000 41,119 100,000 71,555
5 65 5,000 30,484 100,000 61,442
‰ On the contract issue date, the GMIB value is equal to the initial purchase payment increased by 5%.
‰ On the first day of each contract year, the GMIB value is increased by 5%.
‰ Withdrawals of the allowable GMIB amount are taken each contract year.
‰ In the fifth contract year, the free withdrawal amount is $4,112. The amount withdrawn of $5,000 is greater than the 10% free withdrawal amount. The contract value is reduced by the withdrawal amount including any applicable CDSC.
The CDSC is assessed on the value withdrawn in excess of the free withdrawal amount. The GMIB value remains at
$100,000; it is not reduced by the CDSC, as the amount withdrawn is not greater than the allowed GMIB amount.
‰ The return of premium aspect of the death benefit is reduced proportionately for the withdrawals.