EXHIBIT 1.A.(5)(b)
FOUR YEAR TERM INSURANCE RIDER (FTR)
This rider is a part of the base policy whose number is shown below. If not
shown below, the Rider Data is shown on the Policy Data Page.
RIDER DATA
BASE POLICY NUMBER
DEFINITIONS
JOINT INSUREDS
The persons upon whose lives this policy is issued. The Policy Data Pages list
the Joint Insureds.
SURVIVING JOINT INSURED
The Joint Insured who remains alive after the other Joint Insured has died.
YOU, YOUR
The current owner(s) of the base policy.
WE, US, OUR
ReliaStar Life Insurance Company at our Home Office in Minneapolis, Minnesota.
WRITTEN, IN WRITING
A written request or notice, signed and dated, and received at our Home Office
in a form we accept. You may get forms for this purpose from us.
BENEFITS
When we have written proof that the Surviving Joint Insured died while this
rider was in force, we will pay the FTR Face Amount, as is shown on the Policy
Data Page, then in force.
BENEFICIARY
The beneficiary of the proceeds of this rider is the beneficiary of the proceeds
of the base policy.
When you name, add, or change a beneficiary of the base policy the change will
also apply to this rider. If you assign the benefits of this rider as collateral
for a debt, this limits the beneficiary's rights to the proceeds.
COST OF INSURANCE AND MONTHLY AMOUNT CHARGES
The total monthly deduction for this rider equals the sum of 1 plus 2 where:
1.
Is the Monthly Amount Charge per $1,000 (as shown on the Policy Data Page)
multiplied by the FTR Face Amount divided by 1000.
This charge applies during the Term shown on the Policy Data Page; and
2.
Is the FTR Face Amount times the monthly cost of insurance rate described on the
next page.
RELIASTAR
RELIASTAR LIFE INSURANCE COMPANY Executed at our Home Office
Robert C. Salipante President
Box 20 /s/ Robert C. Salipante
Minneapolis
Minnesota 55440 Susan M. Bergen Secretary
/s/ Susan M. Bergen
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COST OF INSURANCE RATES
The monthly cost of insurance rate for this rider is based on each Joint
Insured's sex, issue age, and premium class as shown on the Policy Data Page,
and the policy year. Issue age means age last birthday on the effective date of
the coverage. We will determine monthly cost of insurance rates based upon
expectations as to future cost factors. Any change in cost of insurance rates
will apply to all in the same insurance class whose policies have been in force
for the same period of time.
The cost of insurance rates can never be greater than those shown in the Table
of Monthly Guaranteed Cost of Insurance Rates as shown on the Policy Data Page.
PAYING PROCEEDS
We pay proceeds in the following order:
1.
Collateral assignees, if any, have first priority;
2.
The beneficiary, if any, receives any proceeds that remain. If there is more
than one beneficiary, each receives an equal share, unless you have requested
another method in writing. To receive proceeds, a beneficiary must be living on
the 10th day after the death of the Surviving Joint Insured under this rider;
then
3.
If there are no beneficiaries, you receive any proceeds that remain.
TERMINATION
This rider ends:
1.
Four years after the Rider Effective Date;
2.
If the base policy is surrendered or ends; or
3.
If you ask us in writing to end this rider. In this case, we may ask that you
return the policy and this rider so that we can endorse them. This rider will
end on the first Monthly Anniversary Date after we receive your written request
to end this rider.
After this rider ends, we are not liable for its benefits, even if we have
included the cost of insurance and monthly amount charges for this rider in the
total monthly deduction for the base policy. We will refund any such amounts
that we deduct after this rider ends.
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REINSTATEMENT
If the base policy lapses, this rider will also lapse. You can reinstate this
rider if:
1.
This rider was in effect when the base policy lapsed;
2.
The Rider Expiry Date has not occurred; and
3.
You reinstate the base policy.
To reinstate this rider, you must do both of the following:
1.
Give us proof of each Joint Insured's insurability; and
2.
Pay a premium large enough to keep the base policy and this rider in force for
at least 2 months.
The base policy may be reinstated without this rider, in which case proof and
payment for this rider are not needed.
AGE AND SEX
If any Joint Insured's age or sex is misstated, the Death Benefit will be the
amount that the most recent cost of insurance would purchase using the current
cost of insurance rates for the correct age and sex.
SUICIDE
The Suicide provision of the base policy applies to this rider from the Rider
Effective Date in the same way that it applies to the base policy from the base
policy's Issue Date.
INCONTESTABILITY
If you apply for this rider with the base policy, the Incontestable provision of
the base policy applies to this rider from the Rider Effective Date. During this
2-year period, we may ask for information that could lead to our contesting this
rider or refusing to pay its benefits.
After this rider has been in force for 2 years from the Rider Effective Date, we
cannot claim this rider is void or refuse to pay any benefits with respect to
the FTR Face Amount, unless this rider has lapsed for nonpayment of premiums. If
this rider is reinstated, this provision will be measured from the reinstatement
date with respect to statements made in the application for reinstatement.
GENERAL PROVISIONS
This rider does not increase any cash or loan values of the base policy.
All base policy provisions apply to this rider, unless changed by this rider.
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