CORRESP 1 filename1.htm corresp
[Logo]
Ohio National Financial Services
One Financial Way
Cincinnati, Ohio 45242
January 27, 2010
Ms. Rebecca A. Marquigny
Securities and Exchange Commission
Division of Investment Management
Office of Insurance Products
100 F. Street, N.E.
Washington, D.C. 20549-0506

VIA EDGAR CORRESPONDENCE
     
Re:
  Ohio National Variable Account A (811-1978)
 
  N-4 Registration Statement, ONcore Premier II (333-164070)
 
  N-4 Registration Statement, ONcore Xtra II (333-164073)
 
  N-4 Registration Statement, ONcore Flex II (333-164069)
 
  N-4 Registration Statement, ONcore Lite III (333-164075)
 
   
 
  National Security Variable Account N (811-10619)
 
  N-4 Registration Statement, NScore Premier II (333-164071)
 
  N-4 Registration Statement, NScore Xtra II (333-164074)
 
  N-4 Registration Statement, NScore Lite III (333-164068)
 
  N-4 Registration Statement, NScore Flex (333-164072)
 
  N-4 Registration Statement, NScore Wrap (333-164076)
Dear Ms. Marquigny:
On December 30, 2009, we filed the above-referenced registration statements on Form N-4. At the Staff’s request, this letter is to help identify similar sections of the prospectuses in those filings. The filings are substantially similar. For your review, I would suggest using ONcore Premier II (333-164070) and NScore Premier II (333-164071) as your templates for Ohio National Variable Account A and National Security Variable Account N, respectively.
The attached charts set forth the basic features of the products and which riders are available. The riders included in the filings are the same as riders included in Ohio National Variable Account A’s 485(a) post-effective amendment filings filed on December 3, 2009 (one of which was ONcore Premier, 333-43515) (the “December 3, 2009 filings”), except for the GMIB Plus with Annual Reset included in the National Security Variable Account N filings which is the same as the GMIB Plus with Annual Reset (2009) in National Security Variable Account N’s existing filings (one of which is NScore Premier, 333-125856). The GMIB Plus with Annual Reset in the above-

 


 

referenced ONcore filings is the same as the GMIB Plus with Annual Reset (2009) version included in the December 3, 2009 filings. The ARDBR in the above-referenced filings is the same as the ARBDR (2009) version in the December 3, 2009 filings. The GMDBR80 Plus and GMDBR85 Plus in the above-referenced filings are the same as the 5% GMDBR80 Plus and 5% GMDBR85 Plus versions in the December 3, 2009 filings.
Should you have any questions or comments, please contact me at (513) 794-6278.
         
  Sincerely,
 
 
  /s/ Kimberly A. Plante    
  Kimberly A. Plante   
  Associate Counsel   

 


 

     
ONcore Variable Annuities
                 
    ONcore Lite III   ONcore Premier II   ONcore Xtra II   ONcore Flex II
Separate Account
  Ohio National Variable Account A   Ohio National Variable Account A   Ohio National Variable Account A   Ohio National Variable Account A
 
               
1940 Act File No.
  811-1978   811-1978   811-1978   811-1978
 
               
1933 Act File No.
  333-164075   333-164070   333-164073   333-164069
 
               
Fees
  1.60% M&E and   1.30% M&E and   1.70% M&E and   1.70% M&E and
 
 
Administration Charge
 
Administration Charge
 
Administration Charge
 
Administration Charge
 
  $30 annual contract   $30 annual contract   $30 annual contract   $30 annual contract
 
 
maintenance charge — waived if
 
maintenance charge — waived if
 
maintenance charge — waived if
 
maintenance charge — waived if
 
 
contract value is $50,000 or
 
contract value is $50,000 or
 
contract value is $50,000 or
 
contract value is $50,000 or more.
 
 
more.
 
more.
 
more.
 
 
 
 
 
           
Surrender Charge
  4 yrs: 8-7-6-6%   7 yrs: 7-7-6-5-4-3-2%   9 yrs: 9-8-7-6-5-4-3-2-1%   None
 
               
Issue Ages
  0-80 (81-87 with restrictions)   0-80 (81-87 with restrictions)   0-80 (81-87 with restrictions)   0-80 (81-87 with restrictions) for
 
  for annuitant   for annuitant   for annuitant   annuitant
 
               
Payments
  $5,000 minimum ($2,000   $5,000 minimum ($2,000   $5,000 minimum ($2,000   $10,000 minimum ($2,000
 
 
IRA)
 
IRA)
 
IRA)
 
IRA)
 
  $500 add-on   $500 add-on   $500 add-on   $500 add-on
 
  $300 for qualified plans   $300 for qualified plans   $300 for qualified plans   $300 for qualified plans
 
 
and bank draft
 
and bank draft
 
and bank draft
 
and bank draft
 
  Maximum purchase payment   Maximum purchase payment   Maximum purchase payment   Maximum purchase payment
 
 
amount of lesser of 150% of
 
amount of lesser of 150% of
 
amount of lesser of 150% of
 
amount of lesser of 150% of
 
 
initial purchase payment or $1
 
initial purchase payment or $1
 
initial purchase payment or $1
 
initial purchase payment or $1
 
 
million. May limit all VA sold
 
million. May limit all VA sold
 
million. May limit all VA sold
 
million. May limit all VA sold
 
 
covering the annuitant to $1
 
covering the annuitant to $1
 
covering the annuitant to $1
 
covering the annuitant to $1
 
 
million.
 
million.
 
million.
 
million.
 
               
Death Benefit
  Greater of: contract value at   Greater of: Contract value at   Greater of: Contract value at   Greater of: contract value at
 
  death or purchase payments   death, purchase payments adjusted   death, purchase payments adjusted   death or purchase payments
 
  adjusted for withdrawals.   for withdrawals, or Three-Year   for withdrawals, or Eight-Year   adjusted for withdrawals.
 
      Step-Up: Stops at attained age   Step-Up: Stops at attained age    
 
      90.   90.    
 
               
Annual Withdrawals
  Up to 10% of the contract value   Up to 10% of the contract value   Up to 10% of the contract value   No surrender charge. $500 minimum.
 
  at time of first withdrawal in a   at time of first withdrawal in a   at time of first withdrawal in a   Contract value cannot drop below
 
  contract year may be withdrawn   contract year may be withdrawn   contract year may be withdrawn   $5,000.
 
  without surrender charge. $500   without surrender charge. $500   without surrender charge $500    
 
  minimum. Contract value cannot   minimum. Contract value cannot   minimum. Contract value cannot    
 
  drop below $5,000.   drop below $5,000.   drop below $5,000.    

 


 

     
                 
    ONcore Lite III   ONcore Premier II   ONcore Xtra II   ONcore Flex II
Other Features
  Available Asset Allocation Models.   Available Asset Allocation Models.   Available Asset Allocation Models.   Available Asset Allocation Models.
 
          Extra Credit — an extra 4% of    
 
          each purchase payment is credited    
 
          to the contract value of the    
 
          first $250,000 purchase payments.    
 
          Credit of 5% for payments    
 
          exceeding $250,000 and for all    
 
          payments within first year if    
 
          total in first year exceeds    
 
          $250,000.    
 
               
Riders:
               
 
               
Guaranteed
  Available (p34)   Available (p 35)   Available (p 34)   Available (p 33)
Minimum Income Benefit (GMIB) Plus with Annual Reset rider
               
 
               
Guaranteed
  Available (p 38)   Available (p 39)   Available (p 37)   Available (p 36)
Principal Protection (GPP) Rider
               
 
               
Guaranteed
  Available (p 39)   Available (p 40)   Available (p 38)   Available (p 37)
Lifetime Withdrawal Benefit rider (GLWB)
               
 
               
Guaranteed
  Available (p 45)   Available (p 46)   Available (p 44)   Available (p 43)
Lifetime Withdrawal Benefit rider Joint Life (Joint GLWB)
               
 
               
Annual Reset
  Available (p 29)   Available (p 30)   Available (p 29)   Available (p 28)
Death Benefit Rider (ARDBR)
               
 
               
Guaranteed
  Available (p 29)   Available (p 29)   Available (p 28)   Available (p 27)
Minimum Death Benefit Rider 85 (GMDBR85 Plus)
               
 
               
Guaranteed
  Available (p 29)   Available (p 29)   Available (p 28)   Available (p 27)
Minimum Death Benefit Rider 80 (GMDBR80 Plus)
               

 


 

     
                 
    ONcore Lite III   ONcore Premier II   ONcore Xtra II   ONcore Flex II
Annual Step-Up
  Available (p 28)   Available (p 29)   Available (p 28)   Available (p 27)
Death Benefit Rider
               
 
               
Gain Enhancement
  Available (p 31)   Available (p 32)   Available (p 31)   Available (p 29)
Benefit (GEB) Rider
               
 
               
Gain Enhancement
  Available (p 31)   Available (p 32)   Available (p 31)   Available (p 29)
Benefit Plus (GEB Plus) Rider
               

 


 

     
NScore Variable Annuities
                     
    NScore Lite III   NScore Premier II   NScore Xtra II   NScore Flex   NScore Wrap
Separate Account
  National Security   National Security   National Security   National Security   National Security
 
  Variable Account N   Variable Account N   Variable Account N   Variable Account N   Variable Account N
 
                   
1940 Act File No.
  811-10619   811-10619   811-10619   811-10619   811-10619
 
                   
1933 Act File No.
  333-164068   333-164071   333-164074   333-164072   333-164076
 
                   
Fees
  1.65% M&E   1.35% M&E   1.75% M&E and   1.75% M&E   0.70% M&E
 
 
and Administration
 
and Administration
 
Administration Charge
 
and Administration
 
and Administration
 
 
Charge
 
Charge
  $30 annual  
Charge
 
Charge
 
  $30 annual   $30 annual  
contract maintenance
  $30 annual   $30 annual
 
 
contract
 
contract maintenance
 
charge — waived if
 
contract
 
contract
 
 
maintenance charge
 
charge — waived if
 
contract value is
 
maintenance charge
 
maintenance charge
 
 
— waived if
 
contract value is
 
$50,000 or more.
 
— waived if
 
— waived if
 
 
contract value is
 
$50,000 or more.
 
 
 
contract value is
 
contract value is
 
 
$50,000 or more.
         
$50,000 or more.
 
$50,000 or more.
 
                   
Surrender Charge
  4 yrs: 8-7-6-6%   7 yrs: 7-7-6-5-4-3-2%   9 yrs: 9-8-7-6-5-4-3-2-1%   None   None
 
                   
Issue Ages
  0-80 (81-87 with   0-80 (81-87 with   0-80 (81-87 with   0-80 (81-87 with   0-80 (81-87 with
 
  restrictions) for   restrictions) for   restrictions) for   restrictions) for   restrictions) for
 
  annuitant   annuitant   annuitant   annuitant   annuitant
 
                   
Payments
  $5,000   $5,000   $5,000 minimum   $10,000   $10,000
 
 
minimum ($2,000
 
minimum ($2,000 IRA)
 
($2,000 IRA)
 
minimum ($2,000
 
minimum ($2,000
 
 
IRA)
  $500 add-on   $500 add-on  
IRA)
 
IRA)
 
  $500 add-on   $300 for   $300 for   $500 add-on   $500 add-on
 
  $300 for  
qualified plans and
 
qualified plans and bank
  $300 for   $300 for
 
 
qualified plans and
 
bank draft
 
draft
 
qualified plans and
 
qualified plans and
 
 
bank draft
  Maximum   Maximum purchase  
bank draft
 
bank draft
 
  Maximum  
purchase payment
 
payment amount of lesser
  Maximum   Maximum
 
 
purchase payment
 
amount of lesser of
 
of 150% of initial
 
purchase payment
 
purchase payment
 
 
amount of lesser of
 
150% of initial
 
purchase payment or $1
 
amount of lesser of
 
amount of lesser of
 
 
150% of initial
 
purchase payment or
 
million. May limit all
 
150% of initial
 
150% of initial
 
 
purchase payment or
 
$1 million. May
 
VA sold covering the
 
purchase payment or
 
purchase payment or
 
 
$1 million. May
 
limit all VA sold
 
annuitant to $1 million.
 
$1 million. May
 
$1 million. May
 
 
limit all VA sold
 
covering the
 
 
 
limit all VA sold
 
limit all VA sold
 
 
covering the
 
annuitant to $1
 
 
 
covering the
 
covering the
 
 
annuitant to $1
 
million.
 
 
 
annuitant to $1
 
annuitant to $1
 
 
million.
 
 
 
 
 
million.
 
million.
 
                   
Death Benefit
  Greater of:   Greater of: Contract   Greater of: Contract   Greater of:   Greater of:
 
  contract value at   value at death,   value at death, purchase   contract value at   contract value at
 
  death or purchase   purchase payments   payments adjusted for   death or purchase   death or purchase
 
  payments adjusted   adjusted for   withdrawals, or   payments adjusted   payments adjusted
 
  for withdrawals.   withdrawals, or   Eight-Year Step-Up:   for withdrawals.   for withdrawals.
 
      Three-Year Step-Up:   Stops at attained age        
 
      Stops at attained   90.        
 
      age 90.            

 


 

     
                     
    NScore Lite III   NScore Premier II   NScore Xtra II   NScore Flex   NScore Wrap
Annual Withdrawals
  Up to 10% of the   Up to 10% of the   Up to 10% of the   No surrender   No surrender
 
  contract value at   contract value at   contract value at time   charge. Contract   charge. $500
 
  time of first   time of first   of first withdrawal in a   value cannot drop   minimum. Contract
 
  withdrawal in a   withdrawal in a   contract year may be   below $5,000.   value cannot drop
 
  contract year may   contract year may be   withdrawn without       below $5,000.
 
  be withdrawn   withdrawn without   surrender charge.        
 
  without surrender   surrender charge.   Contract value cannot        
 
  charge. $300   $300 minimum.   drop below $5,000.        
 
  minimum. Contract   Contract value            
 
  value cannot drop   cannot drop below            
 
  below $5,000.   $5,000.            
 
                   
Other Features
  Available Asset   Available Asset   Available Asset   Available Asset   Available Asset
 
  Allocation Models.   Allocation Models.   Allocation Models.   Allocation Models.   Allocation Models.
 
          Extra Credit — an extra        
 
          4% of each purchase        
 
          payment is credited to        
 
          the contract value of        
 
          the first $250,000        
 
          purchase payments.        
 
          Credit of 5% for        
 
          payments exceeding        
 
          $250,000 and for all        
 
          payments within first        
 
          year if total in first        
 
          year exceeds $250,000.        
 
                   
Riders:
                   
 
                   
Guaranteed
  Available (p 34)   Available (p 35)   Available (p 37)   Available (p 33)   Available (p 33)
Minimum Income Benefit (GMIB) Plus with Annual Reset rider
                   
 
                   
Guaranteed
  Available (p 38)   Available (p 38)   Available (p 40)   Available (p 37)   Available (p 37)
Principal Protection (GPP) Rider
                   
 
                   
Guaranteed
  Available (p 39)   Available (p 39)   Available (p 41)   Available (p 37)   Available (p 38)
Lifetime Withdrawal Benefit rider (GLWB)
                   
 
                   
Guaranteed
  Available (p 45)   Available (p 45)   Available (p 47)   Available (p 43)   Available (p 44)
Lifetime Withdrawal Benefit rider Joint Life (Joint GLWB)
                   

 


 

     
                     
    NScore Lite III   NScore Premier II   NScore Xtra II   NScore Flex   NScore Wrap
Annual Reset
  Available (p 29)   Available (p 29)   Available (p 31)   Available (p 28)   Available (p 28)
Death Benefit Rider (ARDBR)
                   
 
                   
Guaranteed
  Available (p 28)   Available (p 29)   Available (p 31)   Available (p 27)   Available (p 27)
Minimum Death Benefit Rider 85 (GMDBR85 Plus)
                   
 
                   
Guaranteed
  Available (p 28)   Available (p 29)   Available (p 31)   Available (p 27)   Available (p 27)
Minimum Death Benefit Rider 80 (GMDBR80 Plus)
                   
 
                   
Annual Step-Up
  Available (p 28)   Available (p 28)   Available (p 30)   Available (p 27)   Available (p 27)
Death Benefit Rider
                   
 
                   
Gain Enhancement
  Available (p 31)   Available (p 31)   Available (p 33)   Available (p 29)   Available (p 30)
Benefit (GEB) Rider
                   
 
                   
Gain Enhancement
  Available (p 31)   Available (p 31)   Available (p 33)   Available (p 29)   Available (p 30)
Benefit Plus (GEB Plus) Rider