EX-99.A(5)(1) 2 c61808ex99-a51.txt ILLUSTRATIONS OF DEATH BENEFITS 1 Exhibit A(5)(I) VARIABLE WHOLE LIFE INSURANCE POLICY MALE ISSUE AGE 35 $500 ANNUAL PREMIUM FOR SELECT UNDERWRITING RISK FACE AMOUNT $30,979 DIVIDENDS USED TO PURCHASE PAID-UP ADDITIONS
0% 6% 12% DEATH BENEFIT* DEATH BENEFIT* DEATH BENEFIT* ASSUMING HYPOTHETICAL ASSUMING HYPOTHETICAL ASSUMING HYPOTHETICAL PREMIUMS GROSS ANNUAL INVESTMENT GROSS ANNUAL INVESTMENT GROSS ANNUAL INVESTMENT ACCUMULATED RATE OF RETURN RATE OF RETURN RATE OF RETURN AT --------------------------------------------------------------------------------------- END OF 5% INTEREST BASE PAID-UP BASE PAID-UP BASE PAID-UP POLICY YEAR PER YEAR POLICY ADDITIONS TOTAL POLICY ADDITIONS TOTAL POLICY ADDITIONS TOTAL -------------------------------------------------------------------------------------------------------------------- 1 $ 525 $30,979 $ 73 $31,052 $30,982 $ 73 $31,055 $31,011 $ 73 $ 31,084 2 1,076 30,979 163 31,142 30,993 167 31,160 31,128 172 31,300 3 1,655 30,979 267 31,246 31,012 282 31,294 31,332 297 31,629 4 2,263 30,979 383 31,362 31,038 416 31,454 31,626 450 32,076 5 2,901 30,979 510 31,489 31,072 570 31,642 32,016 634 32,650 6 3,571 30,979 644 31,623 31,113 741 31,854 32,505 848 33,353 7 4,275 30,979 789 31,768 31,161 934 32,095 33,097 1,100 34,197 8 5,013 30,979 941 31,920 31,216 1,147 32,363 33,795 1,391 35,186 9 5,789 30,979 1,101 32,080 31,278 1,383 32,661 34,604 1,728 36,332 10 6,603 30,979 1,269 32,248 31,346 1,642 32,988 35,528 2,114 37,642 15 11,329 30,979 2,116 33,095 31,780 3,222 35,002 42,063 4,889 46,952 20 (age 55) 17,360 30,979 2,724 33,703 32,350 5,106 37,456 52,417 9,391 61,808 30 (age 65) 34,880 30,979 2,915 33,894 33,826 10,067 43,893 89,590 28,514 118,104 0% 6% 12% CASH VALUE* CASH VALUE* CASH VALUE* ASSUMING HYPOTHETICAL ASSUMING HYPOTHETICAL ASSUMING HYPOTHETICAL PREMIUMS GROSS ANNUAL INVESTMENT GROSS ANNUAL INVESTMENT GROSS ANNUAL INVESTMENT ACCUMULATED RATE OF RETURN RATE OF RETURN RATE OF RETURN AT --------------------------------------------------------------------------------------- END OF 5% INTEREST BASE PAID-UP BASE PAID-UP BASE PAID-UP POLICY YEAR PER YEAR POLICY ADDITIONS TOTAL POLICY ADDITIONS TOTAL POLICY ADDITIONS TOTAL -------------------------------------------------------------------------------------------------------------------- 1 $ 525 $ 91 $ 18 $ 109 $ 98 $ 18 $ 116 $ 106 $ 18 $ 124 2 1,076 418 43 461 453 44 497 489 46 535 3 1,655 737 74 811 820 78 898 909 82 991 4 2,263 1,047 109 1,156 1,200 119 1,319 1,369 129 1,498 5 2,901 1,362 151 1,513 1,606 169 1,775 1,886 188 2,074 6 3,571 1,667 197 1,864 2,025 226 2,251 2,452 259 2,711 7 4,275 1,963 249 2,212 2,457 295 2,752 3,070 347 3,417 8 5,013 2,250 307 2,557 2,902 374 3,276 3,744 454 4,198 9 5,789 2,526 370 2,896 3,361 465 3,826 4,481 582 5,063 10 6,603 2,794 440 3,234 3,833 570 4,403 5,287 734 6,021 15 11,329 3,990 855 4,845 6,409 1,302 7,711 10,567 1,977 12,544 20 (age 55) 17,360 4,944 1,272 6,216 9,343 2,384 11,727 18,715 4,385 23,100 30 (age 65) 34,880 6,045 1,757 7,802 16,103 6,070 22,173 49,729 17,194 66,923 ---------------------------
* Assumes no policy loan has been made. DIVIDENDS ILLUSTRATED ARE BASED ON CURRENT SCALE AND EXPERIENCE AND ARE NOT GUARANTEED. IT IS EMPHASIZED THAT THE HYPOTHETICAL INVESTMENT RESULTS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER AND THE DIFFERENT RATES OF RETURN OF THE FUND PORTFOLIOS. THE DEATH BENEFIT AND CASH VALUE FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL INVESTMENT RATES OF RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT FLUCTUATED ABOVE OR BELOW THOSE AVERAGES FOR INDIVIDUAL POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER A PERIOD OF TIME. 1 2 EXTRA ORDINARY VARIABLE LIFE INSURANCE POLICY MALE ISSUE AGE 35 $100,000 OF INSURANCE ($60,000 GUARANTEED MINIMUM + $40,000 OF EXTRA LIFE PROTECTION GUARANTEED FOR 27 YEARS (1)) ANNUAL PREMIUM FOR SELECT UNDERWRITING RISK: $1,014.00 (2) DIVIDENDS USED TO PURCHASE PAID-UP ADDITIONS (1) ASSUMING 0% HYPOTHETICAL GROSS ANNUAL INVESTMENT RATE OF RETURN
DEATH BENEFIT (3) CASH VALUE (3) -------------------------------------------------------------------------------------- PREMIUMS EXTRA LIFE PROTECTION ACCUMULATED --------------------------------- CASH CASH AT TOTAL MINIMUM VARIABLE VARIABLE VALUE VALUE OF TOTAL END OF 5% INTEREST DEATH DEATH INSURANCE PAID-UP TERM OF BASE PAID-UP CASH POLICY YEAR PER YEAR BENEFIT BENEFIT AMOUNT ADDITIONS INSURANCE POLICY ADDITIONS VALUE ------------------------------------------------------------------------------------------------------------------ 1 $ 1,065 $ 100,000 $60,000 $ (45) $ 158 $39,842 $ 152 $ 41 $ 193 2 2,183 100,000 60,000 (217) 380 39,620 785 102 887 3 3,356 100,000 60,000 (505) 655 39,345 1,402 182 1,584 4 4,589 100,000 60,000 (898) 975 39,025 2,002 279 2,281 5 5,883 100,000 60,000 (1,392) 1,331 38,669 2,614 394 3,008 6 7,242 100,000 60,000 (1,976) 1,715 38,285 3,208 525 3,733 7 8,669 100,000 60,000 (2,642) 2,127 37,873 3,783 672 4,455 8 10,167 100,000 60,000 (3,380) 2,564 37,436 4,340 836 5,176 9 11,740 100,000 60,000 (4,183) 3,028 36,972 4,877 1,019 5,896 10 13,392 100,000 60,000 (5,044) 3,516 36,484 5,397 1,221 6,618 15 22,975 100,000 60,000 (9,988) 5,994 34,006 7,720 2,423 10,143 20 (age 55) 35,205 100,000 60,000 (15,540) 7,412 32,588 9,575 3,461 13,036 30 (age 65) 70,737 89,667 60,000 (26,747) 6,180 23,487 11,717 3,726 15,443 ----------------------------
(1) Extra Life Protection is guaranteed to be at least $40,000 for 27 years, so long as all premiums are paid when due, no policy loan is outstanding, all dividends are applied to purchase paid-up additions and no paid-up additions are surrendered for their cash value. Extra Life Protection is the sum of any positive variable insurance amount plus variable paid-up additions plus term insurance. (2) If premiums were paid monthly, the monthly payments would be $89.10. The death benefit and cash values would not be affected. (3) Assumes no policy loan has been made. (4) After the guaranteed period of 27 years for Extra Life Protection, the amount of term insurance depends on the dividend scale. The amount illustrated is based on current scale and experience and is not guaranteed. DIVIDENDS ILLUSTRATED ARE BASED ON CURRENT SCALE AND EXPERIENCE AND ARE NOT GUARANTEED. IT IS EMPHASIZED THAT THE HYPOTHETICAL INVESTMENT RESULTS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER AND THE DIFFERENT RATES OF RETURN OF THE FUND PORTFOLIOS. THE DEATH BENEFIT AND CASH VALUE FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL INVESTMENT RATE OF RETURN AVERAGED 0% OVER A PERIOD OF YEARS, BUT FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THIS HYPOTHETICAL RATE OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER A PERIOD OF TIME. 2 3 EXTRA ORDINARY VARIABLE LIFE INSURANCE POLICY MALE ISSUE AGE 35 $100,000 OF INSURANCE ($60,000 GUARANTEED MINIMUM + $40,000 OF EXTRA LIFE PROTECTION GUARANTEED FOR 27 YEARS (1)) ANNUAL PREMIUM FOR SELECT UNDERWRITING RISK: $1,014.00 (2) DIVIDENDS USED TO PURCHASE PAID-UP ADDITIONS (1) ASSUMING 6% HYPOTHETICAL GROSS ANNUAL INVESTMENT RATE OF RETURN
DEATH BENEFIT (3) CASH VALUE (3) -------------------------------------------------------------------------------------- PREMIUMS EXTRA LIFE PROTECTION ACCUMULATED --------------------------------- CASH CASH AT TOTAL MINIMUM VARIABLE VARIABLE VALUE VALUE OF TOTAL END OF 5% INTEREST DEATH DEATH INSURANCE PAID-UP TERM OF BASE PAID-UP CASH POLICY YEAR PER YEAR BENEFIT BENEFIT AMOUNT ADDITIONS INSURANCE POLICY ADDITIONS VALUE ------------------------------------------------------------------------------------------------------------------ 1 $ 1,065 $100,000 $60,000 $ 5 $ 158 $39,837 $ 165 $ 41 $ 206 2 2,183 100,000 60,000 26 390 39,584 851 104 955 3 3,356 100,000 60,000 62 689 39,249 1,560 191 1,751 4 4,589 100,000 60,000 112 1,052 38,836 2,292 302 2,594 5 5,883 100,000 60,000 177 1,474 38,349 3,080 437 3,517 6 7,242 100,000 60,000 256 1,950 37,794 3,892 597 4,489 7 8,669 100,000 60,000 349 2,485 37,166 4,729 785 5,514 8 10,167 100,000 60,000 456 3,079 36,465 5,592 1,005 6,597 9 11,740 100,000 60,000 576 3,736 35,688 6,480 1,258 7,738 10 13,392 100,000 60,000 708 4,458 34,834 7,396 1,549 8,945 15 22,975 100,000 60,000 1,545 8,837 29,618 12,384 3,573 15,957 20 (age 55) 35,205 100,000 60,000 2,644 13,569 23,787 18,068 6,337 24,405 30 (age 65) 70,737 100,000 60,000 5,499 24,647 9,854 31,161 14,862 46,023 ---------------------------
(1) Extra Life Protection is guaranteed to be at least $40,000 for 27 years, so long as all premiums are paid when due, no policy loan is outstanding, all dividends are applied to purchase paid-up additions and no paid-up additions are surrendered for their cash value. Extra Life Protection is the sum of any positive variable insurance amount plus variable paid-up additions plus term insurance. (2) If premiums were paid monthly, the monthly payments would be $89.10. The death benefit and cash values would not be affected. (3) Assumes no policy loan has been made. (4) After the guaranteed period of 27 years for Extra Life Protection, the amount of term insurance depends on the dividend scale. The amount illustrated is based on current scale and experience and is not guaranteed. DIVIDENDS ILLUSTRATED ARE BASED ON CURRENT SCALE AND EXPERIENCE AND ARE NOT GUARANTEED. IT IS EMPHASIZED THAT THE HYPOTHETICAL INVESTMENT RESULTS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER AND THE DIFFERENT RATES OF RETURN OF THE FUND PORTFOLIOS. THE DEATH BENEFIT AND CASH VALUE FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL INVESTMENT RATE OF RETURN AVERAGED 6% OVER A PERIOD OF YEARS, BUT FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THIS HYPOTHETICAL RATE OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER A PERIOD OF TIME. 3 4 EXTRA ORDINARY VARIABLE LIFE INSURANCE POLICY MALE ISSUE AGE 35 $100,000 OF INSURANCE ($60,000 GUARANTEED MINIMUM + $40,000 OF EXTRA LIFE PROTECTION GUARANTEED FOR 27 YEARS (1)) ANNUAL PREMIUM FOR SELECT UNDERWRITING RISK: $1,014.00 (2) DIVIDENDS USED TO PURCHASE PAID-UP ADDITIONS (1) ASSUMING 12% HYPOTHETICAL GROSS ANNUAL INVESTMENT RATE OF RETURN
DEATH BENEFIT (3) CASH VALUE (3) -------------------------------------------------------------------------------------- PREMIUMS EXTRA LIFE PROTECTION ACCUMULATED --------------------------------- CASH CASH AT TOTAL MINIMUM VARIABLE VARIABLE VALUE VALUE OF TOTAL END OF 5% INTEREST DEATH DEATH INSURANCE PAID-UP TERM OF BASE PAID-UP CASH POLICY YEAR PER YEAR BENEFIT BENEFIT AMOUNT ADDITIONS INSURANCE POLICY ADDITIONS VALUE ------------------------------------------------------------------------------------------------------------------ 1 $ 1,065 $100,000 $60,000 $ 56 $ 158 $39,786 $ 178 $ 41 $ 219 2 2,183 100,000 60,000 276 400 39,324 918 107 1,025 3 3,356 100,000 60,000 664 725 38,611 1,727 201 1,928 4 4,589 100,000 60,000 1,226 1,135 37,639 2,612 325 2,937 5 5,883 100,000 60,000 1,974 1,633 36,393 3,613 484 4,097 6 7,242 100,000 60,000 2,913 2,222 34,865 4,706 680 5,386 7 8,669 100,000 60,000 4,051 2,913 33,036 5,899 921 6,820 8 10,167 100,000 60,000 5,395 3,716 30,889 7,204 1,212 8,416 9 11,740 100,000 60,000 6,952 4,646 28,402 8,628 1,564 10,192 10 13,392 100,000 60,000 8,732 5,715 25,553 10,184 1,985 12,169 15 22,975 100,000 60,000 21,333 13,442 5,225 20,387 5,435 25,822 20 (age 55) 35,205 127,010 60,000 41,316 25,694 0 36,129 12,000 48,129 30 (age 65) 70,737 247,407 60,000 113,104 74,303 0 96,048 44,805 140,853 ---------------------------
(1) Extra Life Protection is guaranteed to be at least $40,000 for 27 years, so long as all premiums are paid when due, no policy loan is outstanding, all dividends are applied to purchase paid-up additions and no paid-up additions are surrendered for their cash value. Extra Life Protection is the sum of any positive variable insurance amount plus variable paid-up additions plus term insurance. (2) If premiums were paid monthly, the monthly payments would be $89.10. The death benefit and cash values would not be affected. (3) Assumes no policy loan has been made. DIVIDENDS ILLUSTRATED ARE BASED ON CURRENT SCALE AND EXPERIENCE AND ARE NOT GUARANTEED. IT IS EMPHASIZED THAT THE HYPOTHETICAL INVESTMENT RESULTS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER AND THE DIFFERENT RATES OF RETURN OF THE FUND PORTFOLIOS. THE DEATH BENEFIT AND CASH VALUE FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL INVESTMENT RATE OF RETURN AVERAGED 12% OVER A PERIOD OF YEARS, BUT FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THIS HYPOTHETICAL RATE OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER A PERIOD OF TIME. 4 5 SINGLE PREMIUM VARIABLE LIFE INSURANCE POLICY MALE ISSUE AGE 35 FACE AMOUNT $25,000 SINGLE PREMIUM FOR SELECT UNDERWRITING RISK: $6,443.25 DIVIDENDS USED TO PURCHASE PAID-UP ADDITIONS
0% 6% 12% DEATH BENEFIT* DEATH BENEFIT* DEATH BENEFIT* GROSS ASSUMING HYPOTHETICAL ASSUMING HYPOTHETICAL ASSUMING HYPOTHETICAL PREMIUMS ANNUAL INVESTMENT GROSS ANNUAL INVESTMENT GROSS ANNUAL INVESTMENT ACCUMULATED RATE OF RETURN RATE OF RETURN RATE OF RETURN AT ------------------------------------------------------------------------------------- END OF 5% INTEREST BASE PAID-UP BASE PAID-UP BASE PAID-UP POLICY YEAR PER YEAR POLICY ADDITIONS TOTAL POLICY ADDITIONS TOTAL POLICY ADDITIONS TOTAL -------------------------------------------------------------------------------------------------------------------- 1 $ 6,765 $25,000 $ 50 $25,050 $25,154 $ 50 $25,204 $ 26,601 $ 50 $ 26,651 2 7,104 25,000 92 25,092 25,309 105 25,414 28,305 116 28,421 3 7,459 25,000 125 25,125 25,465 165 25,630 30,118 199 30,317 4 7,832 25,000 150 25,150 25,622 230 25,852 32,047 302 32,349 5 8,223 25,000 167 25,167 25,780 300 26,080 34,100 427 34,527 6 8,635 25,000 176 25,176 25,939 375 26,314 36,285 578 36,863 7 9,066 25,000 178 25,178 26,099 457 26,556 38,610 759 39,369 8 9,520 25,000 174 25,174 26,260 545 26,805 41,084 974 42,058 9 9,996 25,000 166 25,166 26,422 642 27,064 43,717 1,230 44,947 10 10,495 25,000 159 25,159 26,585 748 27,333 46,519 1,533 48,052 15 13,395 25,000 127 25,127 27,415 1,389 28,804 63,474 3,906 67,380 20 (age 55) 17,096 25,000 101 25,101 28,275 2,186 30,461 86,629 8,300 94,929 30 (age 65) 27,847 25,000 66 25,066 30,076 4,481 34,557 161,514 30,006 191,520 0% 6% 12% CASH VALUE* CASH VALUE* CASH VALUE* ASSUMING HYPOTHETICAL ASSUMING HYPOTHETICAL ASSUMING HYPOTHETICAL PREMIUMS GROSS ANNUAL INVESTMENT GROSS ANNUAL INVESTMENT GROSS ANNUAL INVESTMENT ACCUMULATED RATE OF RETURN RATE OF RETURN RATE OF RETURN AT ------------------------------------------------------------------------------------- END OF 5% INTEREST BASE PAID-UP BASE PAID-UP BASE PAID-UP POLICY YEAR PER YEAR POLICY ADDITIONS TOTAL POLICY ADDITIONS TOTAL POLICY ADDITIONS TOTAL -------------------------------------------------------------------------------------------------------------------- 1 $ 6,765 $ 5,653 $ 13 $ 5,666 $ 6,030 $ 13 $ 6,043 $ 6,406 $ 13 $ 6,419 2 7,104 5,568 24 5,592 6,329 28 6,357 7,134 31 7,165 3 7,459 5,489 34 5,523 6,641 45 6,686 7,934 55 7,989 4 7,832 5,416 43 5,459 6,968 66 7,034 8,812 86 8,898 5 8,223 5,349 49 5,398 7,308 88 7,396 9,776 126 9,902 6 8,635 5,287 53 5,340 7,663 114 7,777 10,832 177 11,009 7 9,066 5,232 56 5,288 8,033 144 8,177 11,989 240 12,229 8 9,520 5,183 56 5,239 8,418 177 8,595 13,257 317 13,574 9 9,996 5,142 55 5,197 8,819 216 9,035 14,645 414 15,059 10 10,495 5,108 55 5,163 9,237 259 9,496 16,164 532 16,696 15 13,395 4,557 51 4,608 11,086 561 11,647 25,668 1,579 27,247 20 (age 55) 17,096 4,034 47 4,081 13,205 1,020 14,225 40,459 3,876 44,335 30 (age 65) 27,847 3,056 39 3,095 18,136 2,702 20,838 97,394 18,093 115,487 ---------------------------
* Assumes no policy loan has been made. DIVIDENDS ILLUSTRATED ARE BASED ON CURRENT SCALE AND EXPERIENCE AND ARE NOT GUARANTEED. IT IS EMPHASIZED THAT THE HYPOTHETICAL INVESTMENT RESULTS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER AND THE DIFFERENT RATES OF RETURN OF THE FUND PORTFOLIOS. THE DEATH BENEFIT AND CASH VALUE FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL INVESTMENT RATES OF RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT FLUCTUATED ABOVE OR BELOW THOSE AVERAGES FOR INDIVIDUAL POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER A PERIOD OF TIME. 5