<PAGE>
INDIVIDUAL FLEXIBLE PREMIUM
VARIABLE ANNUITY CONTRACT
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
Hartford, Connecticut 06104-2999
(a stock life insurance company, herein called the "Company")
We will pay the first of a series of Annuity payments to the Payee as of the
Annuity Commencement Date, if You, the Annuitant, or the Joint Annuitant, if
any, are living. The manner in which the dollar amount of annuity payments is
determined is described in this contract.
This contract is issued in consideration of the payment of the initial premium
payment.
This contract is subject to the laws of the jurisdiction where it is delivered.
The Contract Specifications on Page 3 and the conditions and provisions on this
and the following pages are part of the contract.
RIGHT TO EXAMINE CONTRACT
We want You to be satisfied with the contract You have purchased. We urge You to
closely examine its provisions. If for any reason You are not satisfied with
Your purchase, You may cancel the contract by returning the contract within ten
days after You receive it. A written request for cancellation must accompany the
contract. In such event, We will pay You an amount equal to the sum of (i) the
difference between the premiums paid and the amounts allocated to any Account
under the contract and (ii) the Contract Value on the date of surrender. You
bear only the investment risk during the period prior to Our receipt of request
for cancellation.
Signed for the Company
/s/ Lynda Godkin /s/ Thomas M. Marra
Lynda Godkin, SECRETARY Thomas M. Marra, PRESIDENT
PREMIUM PAYMENTS ARE FLEXIBLE AS DESCRIBED HEREIN.
NONPARTICIPATING
ALL PAYMENTS AND VALUES PROVIDED BY THIS CONTRACT, WHEN BASED ON INVESTMENT
EXPERIENCE OF A SUB-ACCOUNT, ARE VARIABLE AND ARE NOT GUARANTEED AS TO FIXED
DOLLAR AMOUNT. DETAILS OF THE VARIABLE PROVISIONS ARE DESCRIBED UNDER VALUATION
PROVISIONS, PAGES 11 AND 12.
[GRAPHIC]
HARTFORD LIFE
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TABLE OF CONTENTS
PAGE
Contract Specifications 3
Definition of Certain Terms 4
Premium Payment Provisions 7
Transfers Between Accounts Provisions 7
Dollar Cost Averaging Provisions 8
Contract Control Provisions 8
General Provisions 9
Valuation Provisions 11
Surrender Provisions 12
Distribution at Time of Death Provisions 14
Calculation of the Death Benefit Provisions 14
Settlement Provisions 17
Annuity Tables 20
LA-VAOO Page 2 PRINTED IN U.S.A.
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INDIVIDUAL FLEXIBLE PREMIUM
VARIABLE ANNUITY CONTRACT
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
P.O. Box 2999
Hartford, Connecticut 06104-2999
ADMINISTRATIVE OFFICE:
Attn: Individual Annuity Services
P.O. Box 5085
Hartford, CT 06102-5085
[GRAPHIC]
HARTFORD LIFE
LA-VAOO PRINTED IN U.S.A.
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CONTRACT SPECIFICATIONS
<TABLE>
<S> <C> <C> <C>
CONTRACT NUMBER [ SPECIMEN ] CONTRACT ISSUE DATE [OCTOBER 8, 2000]
NAME OF ANNUITANT [ JAMES SCOTT ] ANNUITY COMMENCEMENT DATE [SEPTEMBER 1, 2030]
AGE OF ANNUITANT [ 35 ] INITIAL PREMIUM PAYMENT [$10,000]
SEX OF ANNUITANT [ MALE ] MINIMUM SUBSEQUENT PAYMENT [$500]
CONTINGENT ANNUITANT [ PAUL SCOTT ] MINIMUM FIXED ACCOUNT INTEREST RATE 3%
DESIGNATED BENEFICIARY [ ANN SCOTT ] (APPLIES TO ACCUMULATION PERIOD ONLY)
CONTRACT OWNER [ JAMES SCOTT ]
</TABLE>
DESCRIPTION OF BENEFITS
INDIVIDUAL FLEXIBLE PREMIUM VARIABLE ANNUITY CONTRACT
SEPARATE ACCOUNT:
[ HARTFORD LIFE AND ANNUITY INSURANCE COMPANY SEPARATE ACCOUNT TWO ]
ANNUAL WITHDRAWAL AMOUNT:
CONTRACT YEARS [1- 3] [10%] OF PREMIUM PAYMENTS ON A NONCUMULATIVE BASIS
AFTER CONTRACT YEAR [3] 100% OF THE CONTRACT VALUE REDUCED BY THE TOTAL OF ANY
PREMIUM PAYMENTS MADE DURING THE [3] YEARS PRIOR TO WITHDRAWAL; AND
[10%] OF PREMIUM PAYMENTS MADE DURING THE [3] YEARS PRIOR TO WITHDRAWAL ON A
NONCUMULATIVE BASIS.
ANNUAL MAINTENANCE FEE:
[$0] IF THE CONTRACT VALUE IS [$50,000] OR MORE ON THE CONTRACT ANNIVERSARY OR
AT FULL SURRENDER.
[$30] IF THE CONTRACT VALUE IS LESS THAN [$50,000] ON THE CONTRACT ANNIVERSARY
OR AT FULL SURRENDER.
MORTALITY AND EXPENSE RISK CHARGE:
[1.70%] PER ANNUM OF THE DAILY SUB-ACCOUNTS VALUE.
ADMINISTRATION CHARGE:
[0.25%] PER ANNUM OF THE DAILY SUB-ACCOUNTS VALUE.
OPTIONAL DEATH BENEFIT CHARGE:
[0.25%] PER ANNUM OF THE DAILY SUB-ACCOUNTS VALUE.
VA99-2/3 Page 3 PRINTED IN U.S.A.
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CONTINGENT DEFERRED SALES CHARGES:
SUBJECT TO THE ANNUAL WITHDRAWAL AMOUNT, SURRENDERS OF CONTRACT VALUES
ATTRIBUTABLE TO PREMIUM PAYMENTS MAY BE MADE SUBJECT TO A CONTINGENT DEFERRED
SALES CHARGE ("CHARGE"). THE LENGTH OF TIME FROM RECEIPT OF THE PREMIUM PAYMENT
TO THE TIME OF SURRENDER DETERMINES THE CHARGE.
DURING THE FIRST [THREE] CONTRACT YEARS FOR PURPOSES OF CALCULATING THE
CONTINGENT DEFERRED SALES CHARGES, ALL SURRENDERS WILL BE FIRST FROM PREMIUM
PAYMENTS AND THEN FROM EARNINGS. IF AN AMOUNT EQUAL TO ALL PREMIUM PAYMENTS HAS
BEEN SURRENDERED, A CHARGE WILL NOT BE ASSESSED AGAINST THE SURRENDER OF THE
REMAINING CONTRACT VALUE.
AFTER THE [THIRD] CONTRACT YEAR, ALL SURRENDERS WILL FIRST BE FROM EARNINGS AND
THEN FROM PREMIUM PAYMENTS. A CHARGE WILL NOT BE ASSESSED AGAINST THE SURRENDER
OF EARNINGS. IF AN AMOUNT EQUAL TO ALL EARNINGS HAS BEEN SURRENDERED, A CHARGE
WILL NOT BE ASSESSED AGAINST PREMIUM PAYMENTS RECEIVED MORE THAN [THREE] YEARS
PRIOR TO SURRENDER, BUT WILL BE ASSESSED AGAINST PREMIUM PAYMENTS RECEIVED LESS
THAN [THREE] YEARS PRIOR TO SURRENDER. FOR THIS PURPOSE, PREMIUM PAYMENTS WILL
BE DEEMED TO BE SURRENDERED IN THE ORDER IN WHICH THEY WERE RECEIVED.
THE CHARGE IS A PERCENTAGE OF THE AMOUNT SURRENDERED (NOT TO EXCEED THE
AGGREGATE AMOUNT OF THE PREMIUM PAYMENTS MADE) AND EQUALS:
<TABLE>
<CAPTION>
LENGTH OF TIME FROM PREMIUM PAYMENTS
CHARGE (NUMBER OF YEARS)
<S> <C>
[9% 1
9% 2
9% 3
9% 4
8% 5
7% 6
7% 7
6% 8
5% 9
0 10 AND THEREAFTER]
</TABLE>
NO CONTINGENT DEFERRED SALES CHARGE WILL BE ASSESSED IF:
- THE CONTRACT TERMINATES DUE TO THE DEATH OF THE ANNUITANT OR CONTRACT OWNER
(AS APPLICABLE),
- ELIGIBILITY REQUIREMENTS ARE MET FOR THE WAIVER OF SURRENDER CHARGE,
- ONLY THE ANNUAL WITHDRAWAL AMOUNT IS TAKEN, OR
- AN ANNUITY OPTION IS ELECTED. (ANY SURRENDER OUT OF OPTION 6 MAY BE SUBJECT
TO CONTINGENT DEFERRED SALES CHARGES.)
VA99-2/3 Page 3 (Continued) PRINTED IN U.S.A.
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DEFINITION OF CERTAIN TERMS
ACCOUNT - Any of the Sub-Accounts or the Fixed Account(s).
ACCUMULATION UNIT - An accounting unit of measure used to calculate the value of
a Sub-Account of this contract before annuity payments begin.
ADMINISTRATIVE OFFICE OF THE COMPANY - Currently located at 200 Hopmeadow St.,
Simsbury, CT 06089. All correspondence concerning this contract should be sent
to Our mailing address: Hartford Life Individual Annuity Services, P.O. Box
5085, Hartford, CT 06102-5085.
ANNIVERSARY VALUE - The value equal to the Contract Value as of a Contract
Anniversary, increased by the dollar amount of any premium payments made since
that anniversary and reduced by the dollar amount of any partial surrenders
since that anniversary. If the Contract Anniversary falls on a non-Valuation Day
(weekend or holiday), then the next Valuation Day will be the Contract
Anniversary for that Contract Year.
ANNUAL WITHDRAWAL AMOUNT - The amount that can be withdrawn in any Contract Year
prior to incurring surrender charges.
ANNUAL MAINTENANCE FEE - An amount which, depending on the amount of the
Contract Value, may be deducted from the value of the contract on each Contract
Anniversary or upon full surrender of this contract. The Annual Maintenance Fee
is shown on Page 3.
ANNUITANT - The person on whose life this contract is issued. The Annuitant may
not be changed. Also, see Contingent Annuitant and Joint Annuitant.
ANNUITY - A contract issued by an insurance company that provides, in
consideration of premium payments, a series of income payments. Your contract is
a deferred Annuity contract in which premium payments, less any partial
surrenders, accumulate until a full surrender is taken or until the Annuity
Commencement Date. Annuity payments under Your contract will begin as of the
Annuity Commencement Date in accordance with the payment option elected.
ANNUITY CALCULATION DATE - The date on which the first annuity payment will be
calculated. It will be no more than five Valuation Days prior to the Annuity
Commencement Date.
ANNUITY COMMENCEMENT DATE - The date as of which Annuity payments are to begin
as described under Settlement Provisions in this contract.
ANNUITY PAYMENT FREQUENCY - The frequency with which Annuity payments will be
made. The frequencies available are monthly, quarterly, semi-annual, and annual.
ANNUITY UNIT - An accounting unit of measure used to calculate the value of
annuity payments under a variable Annuity option.
ANNUITY UNIT FACTOR - A factor that neutralizes the Assumed Investment Return
("AIR") when determining the Annuity Unit Value. When the AIR is 3%, the daily
factor is 0.999919. When the AIR is 5%, the daily factor is 0.999866. And when
the AIR is 6%, the daily factor is 0.999840.
VA99-4/5 Page 4 PRINTED IN U.S.A.
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DEFINITION OF CERTAIN TERMS (CONTINUED)
ASSUMED INVESTMENT RETURN ("AIR") - The investment return upon which the
variable Annuity payments in this contract will be based. The annual rates
available are 3%, 5%, and 6%. You may select one of these rates prior to the
Annuity Commencement Date.
BENEFICIARY - The person(s) entitled to receive benefits as per the terms of the
contract in the event of the death of the Contract Owner or Annuitant, as
applicable.
COMMUTED VALUE - The present value of the remaining guaranteed Annuity Payments,
under Option Six (Payment for a Period Certain). The present value is computed
using the AIR for the Contract and the Annuity Unit value(s) calculated as of
the date that We receive a fully completed request for surrender and, in the
event of the Annuitant's death, Due Proof of Death of the Annuitant.
CONTINGENT ANNUITANT - The person You designate who, upon the Annuitant's death,
prior to the Annuity Commencement Date, becomes the Annuitant.
CONTRACT ANNIVERSARY - An anniversary of the Contract Issue Date.
CONTRACT ISSUE DATE - The date as of which an Account is established for You by
Us. The Contract Issue Date is shown on Page 3.
CONTRACT OWNER(S) - The owner(s) or holder of the contract.
CONTRACT VALUE - The aggregate value of the Sub-Accounts and the Fixed
Account(s) on any Valuation Day.
CONTRACT YEAR - A period of 12 months commencing with the Contract Issue Date or
any other anniversary thereafter.
DEATH BENEFIT - The amount that We will pay upon the death of the Contract Owner
or the Annuitant, as applicable.
DCA PROGRAM FIXED ACCOUNT(S) - Account(s) established to be used for the Dollar
Cost Averaging program(s). It is part of the Our General Account.
DOLLAR COST AVERAGING ("DCA") - Systematic transfers from one Account to any
other available Accounts.
DUE PROOF OF DEATH - A certified death certificate, an order of a court of
competent jurisdiction, or any other proof acceptable to Us.
FIXED ACCOUNT - Part of Our General Account to which all or a part of the
Contract Value may be allocated. Any transfers, deductions or surrenders from
the Fixed Account will be accounted for on a first in, first out basis.
FUNDS - The securities which underlie Your Sub-Accounts.
VA99-4/5 Page 5 PRINTED IN U.S.A.
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DEFINITION OF CERTAIN TERMS (CONTINUED)
GENERAL ACCOUNT - All of Our assets other than those allocated to the Separate
Account.
JOINT ANNUITANT - Upon annuitization, a person other than the Annuitant on whose
continuation of life Annuity payments may be made. The contract will have a
Joint Annuitant only if the Annuity settlement option selected provides for a
survivor. The Joint Annuitant may not be changed.
MAXIMUM ANNIVERSARY VALUE - The highest attained Anniversary Value prior to the
earlier of the date of death or the decedent's 81st birthday.
NET ASSET VALUE PER SHARE - The value per share of any Fund on any Valuation
Day. This amount will never be less than that required by the Securities and
Exchange Commission.
PAYEE - The person, designated by You, to whom Annuity payments will be made.
PREMIUM TAX - The amount of tax, if any, charged by a federal, state, or other
governmental entity on premium payments or Contract Values. On any contract
subject to a Premium Tax, We may deduct the tax at the time We pay the tax to
the applicable taxing authorities, at the time the contract is surrendered or on
the Annuity Commencement Date. If We deduct the tax after Your premium payments
have been applied to the Accounts, the tax will be deducted from the Accounts on
a pro-rata basis.
SEPARATE ACCOUNT - An Account that We established to separate the assets funding
the variable benefits for this type of contract from Our other assets. The
assets in the Separate Account are not chargeable with liabilities arising out
of any other business We may conduct. The name of the Separate Account is shown
on Page 3.
SUB-ACCOUNT - The subdivisions of the Separate Account which are used to
allocate Your Contract Value among the corresponding Funds.
SURRENDER VALUE - The Contract Value prior to the Annuity Commencement Date,
less any applicable contingent deferred sales charges, Premium Taxes, and/or
Annual Maintenance Fee.
VALUATION DAY - Every day the New York Stock Exchange is open for trading. The
value of the Separate Account is determined at the close of the New York Stock
Exchange (generally 4:00 p.m. Eastern Time) on such days.
VALUATION PERIOD - The period of time between the close of business on
successive Valuation Days.
WE, US, OUR - The company referred to on the first page of this contract.
YOU, YOUR - The Contract Owner(s).
VA00-6/7 Page 6 PRINTED IN U.S.A.
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PREMIUM PAYMENT PROVISIONS
PREMIUM PAYMENTS
Premium payments are payable at the Administrative Office of the Company.
Payments may be made by check or by any other method that We deem acceptable.
The initial premium payment is shown on Page 3. This is a flexible premium
annuity. We may accept additional payments. The additional payments must be at
least equal to the minimum subsequent premium payment shown on Page 3. Approval
by Our Vice President or Assistant Vice President is required for any premium
payment if the aggregate of all premium payments then equals or exceeds
$1,000,000.
If You are exchanging from one of Our existing contracts, You may be eligible
for certain credits applied to the amount exchanged. Eligibility for such
credits will be extended to all members of any class of business We designate.
ALLOCATION OF PREMIUM PAYMENTS
Premium payments, minus any applicable Premium Tax We may deduct, will be
allocated to each Account according to Your instructions subject to Our
minimum amount(s) then in effect. Any subsequent premium payments will be
allocated to Accounts in accordance with the most recent premium allocation
instructions that We received.
TRANSFERS BETWEEN ACCOUNTS PROVISIONS
TRANSFERS BETWEEN SUB-ACCOUNTS
You may transfer Contract Values held in the Sub-Accounts into other Sub-
Accounts. We reserve the right to limit the number of transfers to no more than
12 per Contract Year with no two transfers being made on consecutive Valuation
Days.
The right to make transfers between Sub-Accounts is subject to modification if
We determine, in Our opinion, that exercising that right by one or more Contract
Owners is, or would be, to the disadvantage of other Contract Owners. Any
modification could be applied to transfers to or from some or all of the
Sub-Accounts and could include, but not be limited to:
a) the requirement of a minimum time period between each transfer;
b) not accepting transfer requests of an agent acting under a power of
attorney or on behalf of more than one Contract Owner, or
c) limiting the dollar amount that may be transferred between the Sub-Accounts
by a Contract Owner at any one time.
Such restrictions may be applied in any manner reasonably designed to
prevent any use of the transfer right which is considered by Us to be to
the disadvantage of other Contract Owners.
VA00-6/7 Page 7 PRINTED IN U.S.A.
<PAGE>
TRANSFERS BETWEEN ACCOUNTS PROVISIONS (CONTINUED)
TRANSFERS BETWEEN THE FIXED ACCOUNT AND THE SUB-ACCOUNT(S)
The maximum amount transferable from the Fixed Account during any Contract Year
is the greater of:
a) 30% of the Fixed Account value as of the last Contract Anniversary, or
b) the greatest dollar value of any prior transfer from the Fixed Account.
This limitation does not apply to Dollar Cost Averaging.
However, if any interest rate is renewed at a rate at least one percentage point
below the previous rate, You may transfer a dollar amount up to 100% of the
Fixed Account dollar value receiving that reduced rate within 60 days of
notification of the interest rate decrease. We reserve the right to defer
transfers from the Fixed Account for up to six months from the date of request.
Transfers may not be made from the Sub-Accounts into the Fixed Account for the
six month period following any transfer from the Fixed Account into the other
Sub-Accounts. Additionally transfers may not be made into the DCA Program Fixed
Account(s) from either the Sub-Accounts or the Fixed Account(s).
DOLLAR COST AVERAGING PROVISIONS
DOLLAR COST AVERAGING
From time to time, We may offer and You may enroll in a Dollar Cost Averaging
Program (the "Program"). Prior to enrollment, You may obtain the available
account(s), duration(s), or credited rates.
You may terminate participation in the Program at any time by calling or writing
Us. In such event, the remaining balance in the DCA Program Fixed Account will
be transferred to the Account(s) designated by You.
CONTRACT CONTROL PROVISIONS
ANNUITANT, CONTINGENT ANNUITANT, CONTRACT OWNER
The Annuitant may not be changed.
The designations of Contract Owner and Contingent Annuitant will remain in
effect until You change them. The designation of the Contract Owner may be
changed during the lifetime of the Annuitant by written notice to Us. The
designation of the Contingent Annuitant may be changed at any time during the
lifetime of the Annuitant and prior to the Annuity Commencement Date by written
notice to Us. If no Contingent Annuitant has been named and the Contract
Owner/Annuitant's spouse is a Beneficiary, the Contract Owner/Annuitant's spouse
will be presumed to be the Contingent Annuitant. In any other situation, if no
Contingent Annuitant has been named, the Contract Owner (or in the case of joint
Contract Owners, the younger Contract Owner) will be presumed to be the
Contingent Annuitant providing that the Contract Owner is not the Annuitant. The
Contract Owner may waive this presumption.
OWNERSHIP
You have the sole power to exercise all the rights, options, and privileges
granted by this contract or permitted by Us and to agree with Us to any change
in or amendment to the contract. Your rights will be subject to the rights of
any assignee of record with Us and of any irrevocably designated Beneficiary. In
the case of joint Contract Owners, each Contract Owner alone may exercise all
rights, options, and privileges, except with respect to the surrender, partial
surrender, selection of an Annuity option, and change of ownership.
VA99-8/9 Page 8 PRINTED IN U.S.A.
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CONTRACT CONTROLS PROVISIONS (CONTINUED)
BENEFICIARY
The designated Beneficiary will remain in effect until You change it. The
designated Beneficiary may be changed during the lifetime of the Annuitant by
written notice to Us at the Administrative Office of the Company. If the
designated Beneficiary has been designated irrevocably, the designation cannot
be changed or revoked without such Beneficiary's written consent. Upon receipt
of written notice and consent, if required by Us, the new designation will take
effect as of the date the notice is signed, whether or not the Annuitant or
Contract Owner is alive at the time of receipt. Any payments made or other
action taken by Us before the receipt of the notice will not be subject to the
requested change.
GENERAL PROVISIONS
THE CONTRACT
This contract and the endorsements or riders, if any, constitute the entire
contract.
CONTRACT MODIFICATION
No modification of this contract will be made without the signature of Our
President, a Senior Vice President, Executive Vice President, Vice President or
Assistant Vice President. No modification will affect the amount or term of any
Annuity begun prior to the modification unless it is required to conform the
contract to any federal or state statute. No modification will affect the method
by which the Contract Value will be determined.
FUND MODIFICATION
We reserve the right, subject to any applicable law, to make certain changes,
including the right to add, eliminate or substitute any investment options
offered under the Contract.
MINIMUM VALUE STATEMENT
Any Surrender Values, death benefits, or settlement provisions available under
this contract equal or exceed those required by the state in which the contract
is delivered.
NON-PARTICIPATION
This contract does not share in Our surplus earnings. That portion of the
Separate Account assets equal to the reserves and other contract liabilities
will not be chargeable with liabilities arising out of any other business We may
conduct.
MISSTATEMENT OF AGE AND SEX
If the age or sex of the Annuitant has been misstated, the amount of the Annuity
payable by Us will be adjusted based on the correct information without changing
the date of the first payment. Any underpayments by Us will be made up
immediately and any overpayments will be charged against future amounts becoming
payable.
If the age of the Annuitant or Contract Owner has been misstated, the amount of
any death benefit payable will be determined based upon the correct age of the
Annuitant or Contract Owner.
INCONTESTABILITY
We cannot contest this Contract.
VA99-8/9 Page 9 PRINTED IN U.S.A.
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GENERAL PROVISIONS (CONTINUED)
REPORTS TO THE CONTRACT OWNER
You will be sent copies of any shareholder reports of the Funds and of any other
notices, reports or documents required by law to be delivered to You. At least
annually, a statement of the Contract Value will be sent to the You.
VOTING RIGHTS
We will notify You of any Fund shareholder's meetings at which the shares held
for Your account may be voted. We will send proxy materials and instructions for
You to vote the shares held for Your account. We will arrange for the handling
and tallying of proxies received from Contract Owners. We will vote the Fund
shares held by Us in accordance with the instructions received from Contract
Owners. You may attend any meeting, where shares held for Your benefit, will be
voted.
In the event that You give no instructions or leave the manner of voting
discretionary, We will vote such shares of the appropriate Fund in the same
proportion as shares of that Fund for which instructions have been received.
Also, We will vote the Fund shares in this proportionate manner which are held
by Us for Our own account. After Annuity payments begin, the number of votes
will decrease.
CHANGE IN THE OPERATION OF THE SEPARATE ACCOUNT
At Our election and subject to any necessary vote by persons having the right to
give instructions on the voting of the Fund shares held by the Sub-Accounts, the
Separate Account may be operated as a management company under the Investment
Company Act of 1940 or any other form permitted by law, may be deregistered
under the Investment Company Act of 1940 in the event registration is no longer
required, or may be combined with one or more Separate Accounts.
PROOF OF SURVIVAL
The payment of any Annuity benefit will be subject to evidence that the
Annuitant is alive on the date such payment is otherwise due.
TAX QUALIFICATION
This Contract is intended to qualify as an Annuity contract for federal income
tax purposes. To that end, the provisions of this contract are to be interpreted
to ensure and maintain such tax qualification, notwithstanding any other
provisions to the contrary. We reserve the right to amend this Contract to
conform to any changes in the tax qualification requirements under the
applicable provisions of the Internal Revenue Code.
VA99-10/11 Page 10 PRINTED IN U.S.A.
<PAGE>
VALUATION PROVISIONS
NET PREMIUM PAYMENTS
The net premium payment is equal to the premium payment minus any applicable
Premium Taxes We may deduct. The net premium payment is applied to purchase
Fixed Account values or Sub-Account Accumulation Units with respect to the
Sub-Account(s) that You have selected.
The number of Accumulation Units credited to each Sub-Account is determined by
dividing the Net Premium payment allocated to a Sub-Account by the dollar value
of one Accumulation Unit for such Sub-Account. This is computed in compliance
with Securities and Exchange Commission regulations. The number of Accumulation
Units will not be affected by any subsequent change in the value of such
Accumulation Units. The Accumulation Unit value in any Sub-Account may increase
or decrease from day to day as described below.
We will determine the value of the Fixed Account(s) by crediting interest to
amounts allocated to the Fixed Account(s). The Minimum Fixed Account Interest
Rate is the rate shown on Page 3, compounded annually. At Our discretion, We may
credit interest rates greater than the Minimum Fixed Account Interest Rate. We
may change the rate or rates credited in accordance with applicable law.
NET INVESTMENT FACTOR
The net investment factor for each of the Sub-Accounts is equal to:
a) the Net Asset Value Per Share of the corresponding Fund at the end of the
Valuation Period (plus the per share amount of any unpaid dividends or
capital gains by that Fund); divided by
b) the Net Asset Value Per Share of the corresponding Fund at the beginning of
the Valuation Period; minus
c) the mortality and expense risk charge and any applicable administration
charge, shown on Page 3 adjusted for the number of days in the Valuation
Period; minus
d) the Optional Death Benefit Charge, if applicable, shown on Page 3, adjusted
for the number of days in the Valuation Period.
The Fixed Account net investment factor is guaranteed to be at least equal to
the Minimum Fixed Account Interest Rate shown on Page 3.
ACCUMULATION UNIT VALUE
The value of an Accumulation Unit for each Sub-Account of the Separate Account
will vary to reflect the investment experience of the applicable Funds. It will
be determined by multiplying:
a) the value of the Accumulation Unit for that Sub-Account as of the preceding
Valuation Day by
b) the Net Investment Factor for that Sub-Account for the Valuation Day for
which the Accumulation Unit value is being calculated.
The value of the Sub-Account as of each Valuation Day is then determined by
multiplying:
a) the number of Accumulation Units in that Sub-Account by
b) the Accumulation Unit value as of that Valuation Day.
VA99-10/11 Page 11 PRINTED IN U.S.A.
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VALUATION PROVISIONS (CONTINUED)
ANNUITY UNIT VALUE
The value of an Annuity Unit for each Sub-Account of the Separate Account will
vary to reflect the investment experience of the applicable Funds. It will be
determined by multiplying:
a) the value of the Annuity Unit for that Sub-Account as of the preceding
Valuation Day by;
b) the Net Investment Factor for that Sub-Account for the Valuation Day for
which the Annuity Unit value is being calculated; and by
c) the Annuity Unit Factor.
ANNUAL MAINTENANCE FEE
During each year that this contract is in force prior to the Annuity
Commencement Date, the Annual Maintenance Fee, if applicable, will be deducted
on the Contract Anniversary. The fee will be charged against the Contract Value
by reducing the Fixed Account value, and with respect to the Sub-Accounts, the
number of Accumulation Units held as of that date. The fee will be charged on a
pro-rata basis with respect to each active Account. The number of Accumulation
Units deducted from each Sub-Account is determined by dividing the pro-rata
portion of the Annual Maintenance Fee by the value of an Accumulation Unit for
the applicable Sub-Account.
SURRENDER PROVISIONS
FULL SURRENDER PRIOR TO THE ANNUITY COMMENCEMENT DATE
At any time prior to the Annuity Commencement Date, You have the right to
terminate the contract by submitting a written request to Us at the
Administrative Office of the Company. In such event, the Surrender Value of the
contract may be taken in the form of a cash settlement.
The Surrender Value of the contract is equal to the Contract Value less:
a) any applicable Premium Taxes not previously deducted;
b) the Annual Maintenance Fee as specified on Page 3; and
c) any applicable contingent deferred sales charge shown on Page 3.
PARTIAL SURRENDERS PRIOR TO THE ANNUITY COMMENCEMENT DATE
You may request, in writing or other means acceptable to Us, a partial surrender
of Contract Values at any time prior to the Annuity Commencement Date provided
the Contract Value remaining after the surrender is at least equal to Our
minimum amount rules then in effect. If the remaining Contract Value following
such surrender is less than Our minimum amount rules, We may terminate the
contract and pay the Surrender Value.
The contingent deferred sales charge will be assessed against any Contract
Values surrendered as described on Page 3. However, on a noncumulative basis,
You may make partial surrenders during any Contract Year, up to the Annual
Withdrawal Amount shown on Page 3 and the contingent deferred sales charge will
not be assessed against such amounts. Surrender of Contract Values in excess of
the Withdrawal Amount and additional surrenders made in any Contract Year will
be subject to the contingent deferred sales charge, as described on Page 3, if
applicable.
Generally, for federal tax purposes, any surrenders will be deemed to be first
from earnings, to the extent that they exist, and then from the premium
payments.
VA99-12/13 Page 12 PRINTED IN U.S.A.
<PAGE>
SURRENDER PROVISIONS (CONTINUED)
WAIVER OF SURRENDER CHARGE
We will waive any contingent deferred sales charge applicable to a partial or
full surrender of the Contract Value if the covered person has met the
requirements of Eligible Confinement as described below. A covered person is:
a) the current Contract Owner if the Contract Owner has been Contract Owner
continuously since the date of issue and if not confined at the time the
contract was purchased; and
b) the Annuitant, if not confined at the time the contract was purchased.
This benefit will be provided if the Contract Owner provides written proof of
confinement which is satisfactory to Us and requests the partial surrender or
full surrender of Account Value within 91 days of the last day of confinement.
Confinement must be at the recommendation of a physician for medically necessary
reasons, for at least 180 consecutive calendar days, to:
a) a hospital recognized as a general hospital by the proper authority of the
state in which it is located; or
b) a hospital recognized as a general hospital by the Joint Commission on the
Accreditation of Hospitals; or
c) a facility certified as a hospital by Medicare; or
d) a nursing home licensed by the state in which it is located and which has a
registered nurse on duty 24 hours a day; or
e) a facility certified by Medicare as a long term care facility.
SURRENDER AFTER THE ANNUITY COMMENCEMENT DATE
This contract may only be surrendered for its Commuted Value, less any
applicable contingent deferred sales charge, after the commencement of variable
Annuity payments under option Six (Payment for a Period Certain) which is
described in the Settlement Provisions.
PAYMENT ON SURRENDER - DEFERRAL OF PAYMENT
Payment on any request for surrender will be made as soon as possible and with
respect to Contract Values in the Sub-Accounts, within seven days after the
written request is received by Us in good order. However, such payment may be
subject to postponement:
a) for any period during which the New York Stock Exchange is closed or during
which trading on the New York Stock Exchange is restricted;
b) for any period during which an emergency exists as a result of which (i)
disposal of the securities held in the Sub-Accounts is not reasonably
practicable, or (ii) it is not reasonably practicable for the value of the
net assets of the Separate Account to be fairly determined; and
c) for such other periods as the Securities and Exchange Commission may, by
order, permit for the protection of the Contract Owners. The conditions
under which trading will be deemed to be restricted or any emergency will
be deemed to exist will be determined by rules and regulations of the
Securities and Exchange Commission.
We may defer payment of any amounts from the Fixed Account for up to six months
from the date of the request to surrender. If We defer payment for more than 30
days, We will pay interest of at least 3% per annum on the amount deferred.
VA99-12/13 Page 13 PRINTED IN U.S.A.
<PAGE>
DISTRIBUTION AT TIME OF DEATH PROVISIONS
DEATH BEFORE THE ANNUITY COMMENCEMENT DATE
If the Contract Owner dies, and:
a) the joint Contract Owner is living, the joint Contract Owner will become
the Beneficiary. In this case, the rights of the designated Beneficiary are
voided.
b) there is no surviving joint Contract Owner, the designated Beneficiary will
be the Beneficiary.
c) no Beneficiary designation is in effect or the designated Beneficiary has
predeceased the Contract Owner, the Contract Owner's Estate shall be the
Beneficiary.
If the Annuitant dies, and:
a) is also the sole Contract Owner, the designated Beneficiary will be the
Beneficiary.
b) both the Contract Owner and the Contingent Annuitant are living, the
Contingent Annuitant will become the Annuitant. The Contract will continue.
c) the Contract Owner is living, and there is no Contingent Annuitant or the
Contingent Annuitant is not living, the Contract Owner will be the
Beneficiary. In this case, the rights of the designated Beneficiary are
voided.
d) the Contract is owned by a corporation or other entity, the Contract Owner
will be the Beneficiary. In this case, the rights of the designated
Beneficiary are voided.
DEATH ON OR AFTER THE ANNUITY COMMENCEMENT DATE
If the Contract Owner dies, and the Annuitant is living, the designated
Beneficiary will become the Contract Owner.
If the Annuitant dies, the Contract Owner will be the Beneficiary. If a Death
Benefit is triggered, the rights of the designated Beneficiary are voided. If
the Annuitant who is also the Contract Owner dies, the designated Beneficiary
will be the Beneficiary.
The Death Benefit will be calculated as of the date We receive written
notification of Due Proof of Death as in the manner described in the
settlement option then in effect.
CALCULATION OF THE DEATH BENEFIT PROVISIONS
CALCULATION OF THE DEATH BENEFIT
If a Death Benefit is triggered before the Annuity Commencement Date, any Death
Benefit payable will be calculated as of the date We receive written
notification of Due Proof of Death.
If the calculated Death Benefit exceeds the Contract Value, the difference will
be allocated to the Sub-Account(s) in accordance with the last Sub-Account
allocation instructions received from the Contract Owner.
During the time period between Our receipt of written notification of Due Proof
of Death and Our receipt of complete settlement instructions from each
Beneficiary, the calculated Death Benefit amount will be subject to market
fluctuations.
VA99-14/15 Page 14 PRINTED IN U.S.A.
<PAGE>
CALCULATION OF THE DEATH BENEFIT PROVISIONS (CONTINUED)
DEATH BENEFIT
The Death Benefit is the greatest of:
a) the Contract Value; or
b) 100% of all premium payments made under the Contract, reduced by the gross
amount of any partial surrenders since the Contract Issue Date; or
c) the Maximum Anniversary Value, as described below.
MAXIMUM ANNIVERSARY VALUE
The Maximum Anniversary Value is based on a series of calculations on Contract
Anniversaries, of Contract Values, premium payments and partial surrenders.
As of the date We receive notification of Due Proof of Death, We will calculate
an Anniversary Value for each Contract Anniversary prior to the decedent's death
and 81st birthday. The Anniversary Value is equal to the Contract Value as of a
Contract Anniversary, increased by the dollar amount of any premium payments
made since that anniversary and reduced by the dollar amount of any partial
surrenders since that anniversary. The Maximum Anniversary Value is equal to the
greatest Anniversary Value attained from this series of calculations.
OPTIONAL DEATH BENEFIT
If this contract has an Optional Death Benefit, a charge for the benefit will
appear on page 3. The benefit must be applied for at the time of applying for
the contract and cannot be discontinued once the contract has been issued.
The Optional Death Benefit is the greatest of:
a) the Contract Value; or
b) 100% of all premium payments made under the Contract, reduced by the dollar
amount of any partial surrenders since the Contract Issue Date; or
c) the Maximum Anniversary Value, as described above, or
d) the interest accumulation value, as described below.
INTEREST ACCUMULATION VALUE
Prior to the decedent's death or 81st birthday, the interest accumulation value
is equal to total premium payments, less proportional adjustments for partial
surrenders, compounded daily at an annual interest rate of 5.0%. The
proportional adjustment for partial surrenders is calculated by:
a) dividing the gross amount of the partial surrender by the prior day's
Contract Value, and
b) multiplying the result of (a) by the prior Valuation Day's interest
accumulation value.
On or after the decedent's date of death or 81st birthday, the interest
accumulation value will no longer compound. After that date, the interest
accumulation value will be adjusted by adding any subsequent payments and
subtracting proportional adjustments, as described above, for partial
surrenders.
The interest accumulation value will be limited to 200% of all premium payments
minus proportional adjustments for partial surrenders.
VA99-14/15 Page 15 PRINTED IN U.S.A.
<PAGE>
CALCULATION OF THE DEATH BENEFIT PROVISIONS (CONTINUED)
SETTLEMENT OF THE DEATH BENEFIT
The Death Benefit may be taken in one sum or under any of the settlement options
then being offered by Us subject, however, to the Distribution Requirements
below.
As of the date of receipt of complete disbursement instructions from the
Beneficiary, the amount to be paid or applied to a selected settlement option
will be computed. When there is more than one Beneficiary, the amount will be
calculated for each Beneficiary's share of the proceeds and paid or applied to a
selected settlement option according to and upon each Beneficiary's
instructions. If the date of receipt of complete instructions falls on a
non-Valuation Day, the amount will be computed on the next Valuation Day.
When payment is taken in one sum, payment will be mailed within 7 days of Our
receipt of complete instructions, except when We are permitted to defer such
payment under the Investment Company Act of 1940.
DISTRIBUTION REQUIREMENTS
Subject to the Alternative Election or Spouse Beneficiary provisions below,
a) If any Contract Owner dies before the Annuity Commencement Date, the entire
interest in the Contract will be distributed within five years after such
death; and
b) If any Contract Owner dies on or after the Annuity Commencement Date and
before the entire interest in the Contract has been distributed, the
remaining portion of such interest will be distributed at least as rapidly
as under the method of distribution being used as of the date of such
death.
If the Contract Owner is not an individual, then for purposes of the preceding
paragraph a or b, the primary Annuitant will be treated as the Contract Owner.
ALTERNATIVE ELECTION TO SATISFY DISTRIBUTION REQUIREMENTS
If any portion of the interest of a Contract Owner described above is payable
to or for the benefit of a designated Beneficiary, and the Beneficiary elects
after the Contract Owner's death to have the benefit distributed over a
period that:
a) does not extend beyond such Beneficiary's life (or life expectancy); and
b) does commence within one year of the date of death, then for purposes of
satisfying the Distribution Requirements above, the benefit will be
treated as distributed entirely on the date such periodic distributions
begin.
SPOUSE BENEFICIARY
In the event of the death of a Contract Owner and there is no joint Contract
Owner, and a Beneficiary is the Contract Owner's spouse and the Annuitant (or
Contingent Annuitant, if applicable) is alive, the contract will continue
with the spouse as the Contract Owner, unless the spouse elects to be paid a
Death Benefit option. This provision will apply only once with respect to
this contract.
If the contract continues with the spouse as the Contract Owner, the death
benefit will be calculated on receipt of due proof of death. If the Contract
Value is less than the calculated death benefit amount, the Contract Value will
be increased appropriately.
VA99-16/17 Page 16 PRINTED IN U.S.A.
<PAGE>
SETTLEMENT PROVISIONS
ANNUITY COMMENCEMENT DATE
The Annuity Commencement Date is shown on Page 3. You may change the date by
notifying Us within 30 days prior to the Annuity Commencement Date. This date
will not be deferred beyond the Valuation Day immediately following the later
of:
a) the Annuitant's 90th birthday; or
b) the end of the tenth Contract Year unless the Contract Owner elects a later
Annuity Commencement Date subject to laws and regulations then in effect
and Our approval.
If this contract is issued to the trustee of a charitable remainder trust, the
Annuity Commencement Date may be deferred to the Annuitant's 100 birthday.
ELECTION OF ANNUITY OPTION
You may elect, in writing, without deduction of any contingent deferred sales
charge, any one of the Annuity options described below (except the seventh
option - Annuity Proceeds Settlement Option) or any Annuity option then being
offered by Us. The Annuity option may not be changed on or after the Annuity
Commencement Date.
In the absence of an election by You, the Contract Value will be used to
calculate an Annuity under the Third Option (Life Annuity with 10 Years
Period Certain).
Some of the options may not be available if this contract is issued to qualify
under Section 401, 403, or 408 of the Internal Revenue Code of 1986 as amended.
The third, fifth and sixth options (Life Annuity with Payments for a Period
Certain, Joint and Last Survivor Life Annuity with Payments for a Period
Certain, and Payment for a Period Certain) will be available only if the
guaranteed payment period is less than the life expectancy of the Annuitant at
the time the option becomes effective. Such life expectancy will be computed
under the mortality table then in use by Us.
ELECTION OF ANNUITY PAYMENT FREQUENCY
You may elect the Annuity Payment Frequency. Available Annuity Payment
Frequencies include: monthly, quarterly, semi-annual, and annual. In the event
that You do not elect a payment frequency, Annuity payments will be made
monthly. Annuity payments will be made according to the Annuity Payment
Frequency selected. You may elect to change the Annuity Payment Frequency of
Your payments within 30 days prior to the anniversary of any Annuity
Commencement Date.
ANNUITY CALCULATION AND PAYMENT DATES
The Annuity Calculation Date will be no more than five Valuation Days prior to
the Annuity Commencement Date. You may elect a variable Annuity, a fixed dollar
Annuity or a combination fixed and variable Annuity. The election may not change
on or after the Annuity Commencement Date.
If You elect a variable Annuity, the Contract Value (less applicable Premium
Taxes) is applied pro-rata to Your selected Sub-Account(s). If You elect a Fixed
Dollar Annuity, Contract Values will be applied to the General Account. The
Contract Value is determined on the basis of the Accumulation Unit Value of each
Sub-Account and the value of the Fixed Account.
VA99-16/17 Page 17 PRINTED IN U.S.A.
<PAGE>
SETTLEMENT PROVISIONS (CONTINUED)
If You elect variable Annuity payments, Your election must specify the Assumed
Investment Return upon which Your payments are to be based. The available rates
are 3%, 5%, and 6%.
If You elect a fixed Annuity payment, the payment will be the guaranteed rates,
based on 2.5% or the current rates, if higher.
VARIABLE ANNUITY PAYMENTS - The contract contains tables indicating the minimum
dollar amount of the first monthly payment under the optional forms of Annuity
for each $1,000 of value of a Sub-Account under the contract. The first monthly
payment varies according to the variable Annuity payment option selected.
The first Annuity payment is payable on the Annuity Commencement Date. The
remaining Annuity payments are computed and payable as of the same day of the
month as the Annuity Commencement Date based on the elected Annuity Payment
Frequency.
The amount of the first variable Annuity payment is divided by the Annuity Unit
value for Your selected Sub-Account(s) as of the Annuity Commencement Date. This
number of Annuity Units remains fixed for the selected Sub-Account during the
Annuity payment period. For each subsequent payment the dollar amount of the
Variable Annuity payment is determined by multiplying the fixed number of
Annuity Units by the Annuity Unit value.
If subsequent payment dates fall on a non-Valuation Day (weekend or holiday),
the payment will be computed and payable as of the prior Valuation Day. If the
day of the month elected does not occur in a given month (29th, 30th, or 31st),
the payments will be computed and payable as of the last Valuation Day of the
month.
FIXED ANNUITY PAYMENTS - Fixed Annuity payments are determined at annuitization
by multiplying the value of the Fixed Account (less applicable Premium Taxes) by
a rate to be determined by Us, which is no less than the rate specified in the
fixed Annuity payment tables in the contract. The fixed Annuity payment will
remain level for the duration of the Annuity.
EXCHANGE "TRANSFER" OF ANNUITY UNITS
After the Annuity Commencement Date, You may exchange "Transfer" the value of
the Annuity Unit for a specified Sub-Account for the dollar value of Annuity
Units in another Sub-Account. Transfers may be made between the Sub-Accounts and
from the Sub-Account(s) to the Fixed Account. No transfers of Fixed Account
Annuity dollars into a Sub-Account are allowed. For limitation and modification
guidelines see "Transfers Between Sub-Accounts."
MINIMUM PAYMENT
The first payment must be at least equal to the minimum payment amount according
to Our rules then in effect. If at any time, payments become less than the
minimum payment amount, We have the right to change the payment frequency to
meet the minimum payment requirements. If any payment amount is less than the
minimum annual payment amount, We may make an alternative arrangement with You.
VA99-18/19 Page 18 PRINTED IN U.S.A.
<PAGE>
SETTLEMENT PROVISIONS (CONTINUED)
ANNUITY OPTIONS
FIRST OPTION - Life Annuity - An Annuity payable during the lifetime of the
Annuitant, ceasing with the last payment due prior to the death of the
Annuitant.
SECOND OPTION - Life Annuity With a Cash Refund - An Annuity payable during the
lifetime of the Annuitant. At the death of the Annuitant, any remaining value
will be paid to the Beneficiary. The remaining value equals the Contract Value,
less Premium Tax used to purchase Annuity Units, minus the sum of all Annuity
payments made. This option is only available for variable Annuity payments using
the 5% Assumed Investment Return and for fixed Annuity payments.
THIRD OPTION - Life Annuity with Payments for a Period Certain - An Annuity
payable for a fixed number of years and for as long as the Annuitant is living.
If at the death of the Annuitant, payments have been made for less than the
period selected, the remaining payments will be made to the Beneficiary. The
Beneficiary may elect to receive the present value of the remaining payments in
one sum. To calculate the present value for fixed Annuity payments, We will use
the same interest rate that was used to determine the amount of the Annuity
payments. To calculate the present value of variable Annuity payments, We will
use the AIR elected by the Contract Owner when this Annuity option was selected
and the Annuity Unit value on the date of receipt of Due Proof of Death.
FOURTH OPTION - Joint and Last Survivor Life Annuity - An Annuity payable during
the lifetimes of the Annuitant and the Joint Annuitant and thereafter during the
remaining lifetime of the survivor. At the time of electing this Annuity option,
the Contract Owner may elect reduced payments over the remaining lifetime of the
survivor. Payments will cease with the last payment prior to the death of the
survivor.
FIFTH OPTION - Joint and Last Survivor Life Annuity with Payments for a Period
Certain - An Annuity payable for a fixed number of years and during the
lifetimes of the Annuitant and the Joint Annuitant and thereafter during the
remaining lifetime of the survivor. At the time of electing this Annuity option,
the Contract Owner may elect reduced payments over the remaining lifetime of the
survivor. If at the death of the survivor, payments have been made for less than
the period selected, the remaining payments will be made to the Beneficiary. The
Beneficiary may elect to receive the present value of the remaining payments in
one sum. To calculate the present value for fixed Annuity payments, We will use
the same interest rate that was used to determine the amount of the Annuity
payments. To calculate the present value of variable Annuity payments, We will
use the AIR elected by the Contract Owner when this Annuity option was selected
and the Annuity Unit value on the date of receipt of Due Proof of Death.
VA99-18/19 Page 19 PRINTED IN U.S.A.
<PAGE>
SETTLEMENT PROVISIONS (CONTINUED)
SIXTH OPTION - Payment for a Period Certain - An Annuity payable for a fixed
number of years with periods of 10 years or greater available at any time and
periods of 5 to 10 years available on or after the second Contract
Anniversary. Payments will be made for the period and frequency selected unless
You surrender this contract after payments have commenced by submitting a
written request to Us (only available with variable Annuity payments). The
amount available to You is the Commuted Value, less any applicable contingent
deferred sales charge.
If at the death of the Annuitant, payments have been made for less than the
period selected, the remaining payments will be made to the Beneficiary. The
Beneficiary may elect to receive the present value of the remaining payments in
one sum. To calculate the present value for fixed Annuity payments, We will use
the same interest rate that was used to determine the amount of the Annuity
payments. To calculate the present value of variable Annuity payments, We will
use the AIR elected by the Contract Owner when this Annuity option was selected
and the Annuity Unit value on the date of receipt of Due Proof of Death.
SEVENTH OPTION - Annuity Proceeds Settlement Option - Proceeds from the Death
Benefit can be left with Us for a period not to exceed five years from the date
of the Contract Owner's or the Annuitant's death prior to the Annuity
Commencement Date. The proceeds will remain in the Sub-Account(s) to which they
were allocated at the time of death unless the Beneficiary elects to reallocate
them. Full or partial withdrawals may be made at any time. In the event of
withdrawals, the remaining value will equal the Contract Value of the proceeds
left with Us, minus any withdrawals.
ANNUITY TABLES
DESCRIPTION OF TABLES
The attached tables show the minimum dollar amount of the first monthly payment
for each $1,000 applied to fixed dollar Annuity payments, and the actual first
monthly payment for each $1,000 applied to variable Annuity payments. Under the
First, Second and Third Options, the amount of each payment will depend upon the
age and sex of the Annuitant at the time the first payment is due. Under the
Fourth and Fifth Options, the amount of the first payment will depend upon the
sex of both Annuitants and their ages at the time the first payment is due.
Sex will not be used to determine the amount of the Annuity payable if this
contract is issued to qualify under certain sections of the Internal Revenue
Code. If sex is used to determine the amount of Annuity payable, the Annuity
tables at the end of this contract will provide rates of payment for male
Annuitants and female Annuitants.
The variable payment Annuity tables for the First through Fifth Options are
based on the [1983a Individual Annuity Mortality Table projected to the year
2000 using Projection Scale G] and the Assumed Investment Return. The table for
the Sixth Option is based on an Assumed Investment Return.
The fixed payment Annuity tables for the First through Fifth Options are based
on the [1983a Individual Annuity Mortality Table projected to the year 2000
using Projection Scale G] and an interest rate of [2.5%]. The table for the
Sixth Option is based on an interest rate of [2.5%]. per annum.
VA00-20/21 Page 20 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES (CONTINUED)
The Annuity tables for the First through Fifth Options are age dependent. If the
first Annuity payment is made before [2000], the amount of that payment will be
based on the Annuitant's then-attained age (i.e., age as of last birthday). For
Annuity payments beginning after [2000], the amount of the first payment will be
based on an age a specified number of years younger than the Annuitant's
then-attained age. The age setback is as follows:
<TABLE>
<CAPTION>
DATE OF FIRST PAYMENT AGE SETBACK
<S> <C>
[Prior to 2005 1 year
2005 - 2014 2 years
2015 - 2019 3 years
2020 - 2029 4 years
2030 - 2039 5 years
2040 or later 6 years]
</TABLE>
VA00-20/21 Page 21 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
FIXED PAYMENTS,
BASED ON A 2 1/2% ASSUMED INVESTMENT RETURN
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000 APPLIED
Fixed Dollar Annuity payments will not vary and are guaranteed as to fixed
dollar amount. Payments for any available Annuity Payment Frequency, Period
Certain, age, or combination of ages not shown will be quoted upon request. The
Second Option (Life Annuity with a Cash Refund) is not available with the 2 1/2%
Assumed Investment Return.
FIRST AND THIRD OPTIONS - SINGLE LIFE ANNUITIES
<TABLE>
<CAPTION>
MALE ANNUITANT FEMALE ANNUITANT
MONTHLY PAYMENTS GUARANTEED MONTHLY PAYMENTS GUARANTEED
AGE NONE 120 180 240 NONE 120 180 240
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
35 $3.05 $3.05 $3.04 $3.03 $2.88 $2.88 $2.88 $2.87
40 3.25 3.24 3.23 3.21 3.04 3.03 3.03 3.02
45 3.49 3.48 3.45 3.42 3.23 3.22 3.22 3.20
50 3.80 3.77 3.73 3.68 3.47 3.46 3.45 3.42
51 3.87 3.84 3.79 3.73 3.53 3.52 3.50 3.47
52 3.94 3.91 3.86 3.79 3.59 3.57 3.56 3.52
53 4.02 3.98 3.93 3.85 3.65 3.64 3.61 3.58
54 4.10 4.06 4.00 3.91 3.72 3.70 3.67 3.63
55 4.19 4.14 4.07 3.97 3.79 3.77 3.74 3.69
56 4.28 4.22 4.15 4.04 3.86 3.84 3.80 3.75
57 4.37 4.31 4.23 4.10 3.94 3.91 3.87 3.81
58 4.48 4.41 4.31 4.17 4.02 3.99 3.94 3.88
59 4.59 4.51 4.40 4.23 4.10 4.07 4.02 3.94
60 4.70 4.61 4.49 4.30 4.20 4.16 4.10 4.01
61 4.83 4.72 4.58 4.37 4.29 4.25 4.18 4.08
62 4.96 4.84 4.67 4.44 4.40 4.35 4.27 4.15
63 5.10 4.96 4.77 4.50 4.51 4.45 4.36 4.22
64 5.25 5.09 4.87 4.57 4.62 4.56 4.46 4.30
65 5.41 5.23 4.97 4.64 4.75 4.67 4.55 4.37
66 5.59 5.37 5.08 4.70 4.88 4.79 4.66 4.45
67 5.77 5.51 5.18 4.76 5.03 4.92 4.76 4.52
68 5.97 5.66 5.29 4.82 5.18 5.05 4.87 4.59
69 6.18 5.82 5.39 4.87 5.34 5.19 4.98 4.66
70 6.40 5.98 5.49 4.92 5.52 5.34 5.09 4.73
75 7.76 6.85 5.97 5.12 6.64 6.21 5.67 5.02
80 9.67 7.73 6.32 5.23 8.29 7.20 6.15 5.19
</TABLE>
FOURTH OPTION - JOINT AND LAST SURVIVOR ANNUITY
<TABLE>
<CAPTION>
AGE AGE OF FEMALE
OF
MALE 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $2.74 $2.81 $2.87 $2.92 $2.96 $2.99 $3.01 $3.03 $3.04 $3.04 $3.05 3.05
40 2.78 2.87 2.95 3.02 3.08 3.13 3.17 3.20 3.22 3.23 3.24 3.24
45 2.81 2.92 3.02 3.12 3.22 3.30 3.36 3.40 3.44 3.46 3.47 3.48
50 2.83 2.95 3.08 3.22 3.35 3.46 3.56 3.64 3.70 3.74 3.76 3.78
55 2.85 2.98 3.13 3.29 3.46 3.63 3.79 3.91 4.01 4.08 4.13 4.15
60 2.86 3.00 3.16 3.35 3.56 3.79 4.01 4.21 4.38 4.51 4.59 4.64
65 2.87 3.01 3.19 3.39 3.64 3.92 4.22 4.52 4.80 5.02 5.18 5.29
70 2.87 3.02 3.20 3.42 3.69 4.02 4.39 4.81 5.23 5.61 5.91 6.12
75 2.88 3.03 3.21 3.44 3.73 4.09 4.52 5.05 5.64 6.23 6.76 7.15
80 2.88 3.03 3.22 3.46 3.75 4.13 4.62 5.23 5.98 6.82 7.66 8.36
85 2.88 3.03 3.22 3.46 3.77 4.16 4.67 5.35 6.24 7.32 8.52 9.66
90 2.88 3.04 3.23 3.47 3.77 4.17 4.71 5.42 6.41 7.69 9.25 10.91
</TABLE>
VA99SXD2.5 Page 22 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
FIXED PAYMENTS,
BASED ON A 2 1/2% ASSUMED INVESTMENT RETURN
(CONTINUED)
FIFTH OPTION - JOINT AND LAST SURVIVOR ANNUITY WITH 10 YEAR PERIOD CERTAIN
<TABLE>
<CAPTION>
AGE AGE OF FEMALE
OF
MALE 35 40 45 50 55 60 65 70 75 80 85 90
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $2.74 $2.81 $2.87 $2.92 $2.96 $2.99 $3.01 $3.02 $3.04 $3.04 $3.05 $3.05
40 2.78 2.87 2.95 3.02 3.08 3.13 3.17 3.20 3.22 3.23 3.23 3.24
45 2.81 2.92 3.02 3.12 3.22 3.29 3.36 3.40 3.43 3.45 3.47 3.47
50 2.83 2.95 3.08 3.22 3.35 3.46 3.56 3.64 3.70 3.73 3.75 3.76
55 2.85 2.98 3.13 3.29 3.46 3.63 3.78 3.91 4.01 4.07 4.11 4.13
60 2.86 3.00 3.16 3.35 3.56 3.78 4.01 4.21 4.37 4.49 4.56 4.59
65 2.87 3.01 3.19 3.39 3.64 3.91 4.21 4.51 4.78 4.98 5.11 5.18
70 2.87 3.02 3.20 3.42 3.69 4.01 4.38 4.79 5.19 5.53 5.76 5.89
75 2.88 3.03 3.21 3.44 3.72 4.08 4.51 5.01 5.56 6.07 6.46 6.68
80 2.88 3.03 3.22 3.45 3.75 4.12 4.59 5.17 5.85 6.54 7.10 7.46
85 2.88 3.03 3.22 3.46 3.76 4.14 4.63 5.27 6.04 6.88 7.61 8.09
90 2.88 3.03 3.22 3.46 3.76 4.15 4.66 5.32 6.14 7.07 7.92 8.51
</TABLE>
SIXTH OPTION - PAYMENTS FOR A PERIOD CERTAIN
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF
YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY
PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
5 $17.70 10 $9.39 15 $6.64 20 $5.27 25 $4.46 30 $3.93
6 14.93 11 8.64 16 6.30 21 5.08 26 4.34
7 12.95 12 8.02 17 6.00 22 4.90 27 4.22
8 11.47 13 7.49 18 5.73 23 4.74 28 4.12
9 10.32 14 7.03 19 5.49 24 4.60 29 4.02
</TABLE>
VA99SXD2.5 Page 23 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 3% ASSUMED INVESTMENT RETURN
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000 APPLIED
The second and subsequent annuity payments under a variable annuity are based on
the investment experience of a Separate Account and are not guaranteed as to
fixed dollar amount. Payments for any available Annuity Payment Frequency,
Period Certain, age, or combination of ages not shown will be quoted upon
request. The Second Option (Life Annuity with a Cash Refund) is not available
with the 3% Assumed Investment Return.
FIRST AND THIRD OPTIONS - SINGLE LIFE ANNUITIES
<TABLE>
<CAPTION>
MALE ANNUITANT FEMALE ANNUITANT
MONTHLY PAYMENTS GUARANTEED MONTHLY PAYMENTS GUARANTEED
AGE NONE 120 180 240 NONE 120 180 240
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
35 $3.35 $3.35 $3.34 $3.33 $3.18 $3.18 $3.18 $3.17
40 3.54 3.53 3.52 3.50 3.33 3.33 3.32 3.31
45 3.78 3.76 3.74 3.71 3.52 3.51 3.50 3.49
50 4.08 4.05 4.01 3.95 3.76 3.75 3.73 3.70
51 4.15 4.12 4.07 4.01 3.81 3.80 3.78 3.75
52 4.23 4.19 4.14 4.06 3.87 3.86 3.84 3.80
53 4.30 4.26 4.20 4.12 3.93 3.92 3.89 3.85
54 4.38 4.34 4.27 4.18 4.00 3.98 3.95 3.91
55 4.47 4.42 4.35 4.24 4.07 4.04 4.01 3.96
56 4.56 4.50 4.42 4.30 4.14 4.11 4.08 4.02
57 4.66 4.59 4.50 4.37 4.22 4.19 4.15 4.08
58 4.76 4.68 4.58 4.43 4.30 4.26 4.22 4.15
59 4.87 4.78 4.67 4.50 4.38 4.35 4.29 4.21
60 4.98 4.89 4.76 4.56 4.47 4.43 4.37 4.28
61 5.11 5.00 4.85 4.63 4.57 4.52 4.45 4.35
62 5.24 5.11 4.94 4.69 4.67 4.62 4.54 4.42
63 5.38 5.23 5.04 4.76 4.78 4.72 4.63 4.49
64 5.54 5.36 5.13 4.83 4.90 4.83 4.72 4.56
65 5.70 5.50 5.23 4.89 5.03 4.94 4.82 4.63
66 5.87 5.63 5.34 4.95 5.16 5.06 4.92 4.70
67 6.06 5.78 5.44 5.01 5.30 5.19 5.02 4.78
68 6.25 5.93 5.54 5.07 5.45 5.32 5.13 4.85
69 6.46 6.08 5.64 5.12 5.62 5.46 5.24 4.92
70 6.69 6.24 5.74 5.17 5.80 5.61 5.35 4.98
75 8.05 7.10 6.21 5.36 6.92 6.46 5.91 5.26
80 9.97 7.97 6.56 5.47 8.57 7.45 6.39 5.42
</TABLE>
FOURTH OPTION - JOINT AND LAST SURVIVOR ANNUITY
<TABLE>
<CAPTION>
AGE AGE OF FEMALE
OF
MALE 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $3.04 $3.11 $3.16 $3.21 $3.25 $3.28 $3.30 $3.32 $3.33 $3.34 $3.34 $3.35
40 3.08 3.16 3.24 3.31 3.37 3.42 3.46 3.49 3.51 3.52 3.53 3.53
45 3.11 3.21 3.31 3.41 3.50 3.58 3.64 3.69 3.72 3.74 3.76 3.77
50 3.13 3.25 3.37 3.50 3.62 3.74 3.84 3.92 3.98 4.02 4.05 4.06
55 3.15 3.27 3.41 3.57 3.74 3.90 4.06 4.19 4.29 4.36 4.41 4.43
60 3.16 3.29 3.45 3.63 3.84 4.06 4.28 4.48 4.65 4.78 4.87 4.92
65 3.17 3.31 3.47 3.67 3.91 4.19 4.48 4.78 5.06 5.29 5.46 5.56
70 3.17 3.32 3.49 3.71 3.97 4.29 4.66 5.07 5.49 5.88 6.18 6.39
75 3.18 3.32 3.50 3.73 4.01 4.36 4.79 5.31 5.90 6.49 7.02 7.42
80 3.18 3.33 3.51 3.74 4.03 4.40 4.88 5.49 6.24 7.08 7.92 8.63
85 3.18 3.33 3.51 3.75 4.05 4.43 4.94 5.62 6.50 7.58 8.78 9.92
90 3.18 3.33 3.52 3.75 4.05 4.45 4.98 5.70 6.68 7.96 9.52 11.18
</TABLE>
VA99SXD3 Page 24 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 3% ASSUMED INVESTMENT RETURN
(CONTINUED)
FIFTH OPTION - JOINT AND LAST SURVIVOR ANNUITY WITH 10 YEAR PERIOD CERTAIN
<TABLE>
<CAPTION>
AGE AGE OF FEMALE
OF
MALE 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $3.04 $3.11 $3.16 $3.21 $3.25 $3.28 $3.30 $3.32 $3.33 $3.34 $3.34 $3.34
40 3.08 3.16 3.24 3.31 3.37 3.42 3.46 3.49 3.51 3.52 3.53 3.53
45 3.11 3.21 3.31 3.41 3.50 3.58 3.64 3.69 3.72 3.74 3.75 3.76
50 3.13 3.25 3.37 3.50 3.62 3.74 3.84 3.92 3.97 4.01 4.03 4.05
55 3.15 3.27 3.41 3.57 3.74 3.90 4.05 4.18 4.28 4.35 4.39 4.40
60 3.16 3.29 3.45 3.63 3.83 4.05 4.27 4.47 4.64 4.76 4.83 4.86
65 3.17 3.31 3.47 3.67 3.91 4.18 4.48 4.77 5.04 5.24 5.38 5.45
70 3.17 3.31 3.49 3.70 3.97 4.28 4.65 5.05 5.45 5.79 6.02 6.16
75 3.18 3.32 3.50 3.72 4.00 4.35 4.77 5.27 5.82 6.32 6.71 6.94
80 3.18 3.32 3.51 3.73 4.02 4.39 4.86 5.43 6.10 6.79 7.35 7.70
85 3.18 3.33 3.51 3.74 4.04 4.41 4.90 5.53 6.30 7.12 7.85 8.33
90 3.18 3.33 3.51 3.74 4.04 4.42 4.93 5.58 6.40 7.32 8.16 8.74
</TABLE>
SIXTH OPTION - PAYMENTS FOR A PERIOD CERTAIN
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF
YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY
PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
5 $17.91 10 $9.61 15 $6.87 20 $5.51 25 $4.71 30 $4.18
6 15.14 11 8.86 16 6.53 21 5.32 26 4.59
7 13.16 12 8.24 17 6.23 22 5.15 27 4.47
8 11.68 13 7.71 18 5.96 23 4.99 28 4.37
9 10.53 14 7.26 19 5.73 24 4.84 29 4.27
</TABLE>
VA99SXD3 Page 25 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 5% ASSUMED INVESTMENT RETURN
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000 APPLIED
Second and subsequent Annuity payments under a variable annuity are based on the
investment experience of a Separate Account and are not guaranteed as to fixed
dollar amount. Payments for any available Annuity Payment Frequency, Period
Certain, age, or combination of ages not shown will be quoted upon request.
FIRST, SECOND, AND THIRD OPTIONS - SINGLE LIFE ANNUITIES
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
MALE ANNUITANT FEMALE ANNUITANT
MONTHLY PAYMENTS GUARANTEED MONTHLY PAYMENTS GUARANTEED
AGE NONE 120 180 240 CASH REFUND NONE 120 180 240 CASH REFUND
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $4.63 $4.62 $4.61 $4.60 $4.60 $4.48 $4.48 $4.47 $4.47 $4.46
40 4.80 4.78 4.77 4.74 4.74 4.60 4.60 4.59 4.58 4.58
45 5.02 4.99 4.96 4.91 4.92 4.77 4.75 4.74 4.72 4.72
50 5.30 5.25 5.20 5.13 5.16 4.98 4.96 4.94 4.90 4.91
51 5.36 5.31 5.26 5.18 5.21 5.03 5.01 4.98 4.94 4.95
52 5.43 5.38 5.31 5.23 5.27 5.08 5.06 5.03 4.99 5.00
53 5.51 5.45 5.37 5.28 5.33 5.14 5.11 5.08 5.03 5.05
54 5.58 5.52 5.44 5.33 5.39 5.20 5.17 5.13 5.08 5.10
55 5.67 5.59 5.50 5.38 5.46 5.26 5.23 5.19 5.13 5.16
56 5.75 5.67 5.57 5.44 5.53 5.33 5.29 5.25 5.18 5.21
57 5.85 5.75 5.64 5.49 5.60 5.40 5.36 5.31 5.24 5.27
58 5.95 5.84 5.72 5.55 5.68 5.48 5.43 5.37 5.29 5.34
59 6.05 5.94 5.80 5.61 5.76 5.56 5.51 5.44 5.35 5.41
60 6.17 6.04 5.88 5.67 5.85 5.65 5.59 5.51 5.41 5.48
61 6.29 6.14 5.96 5.73 5.94 5.74 5.67 5.59 5.47 5.55
62 6.42 6.25 6.05 5.78 6.04 5.84 5.76 5.67 5.53 5.63
63 6.56 6.37 6.14 5.84 6.14 5.95 5.86 5.75 5.59 5.72
64 6.71 6.49 6.23 5.90 6.24 6.06 5.96 5.84 5.66 5.81
65 6.87 6.62 6.32 5.96 6.36 6.18 6.07 5.93 5.72 5.91
66 7.05 6.75 6.41 6.01 6.47 6.31 6.18 6.02 5.79 6.01
67 7.23 6.89 6.51 6.06 6.60 6.46 6.30 6.11 5.85 6.12
68 7.43 7.03 6.60 6.11 6.73 6.61 6.43 6.21 5.92 6.23
69 7.65 7.18 6.69 6.16 6.87 6.77 6.57 6.31 5.98 6.35
70 7.87 7.33 6.79 6.21 7.01 6.95 6.71 6.42 6.04 6.48
75 9.25 8.14 7.21 6.38 7.85 8.08 7.53 6.94 6.29 7.25
80 11.20 8.97 7.53 6.47 8.92 9.75 8.47 7.37 6.43 8.27
</TABLE>
FOURTH OPTION - JOINT AND LAST SURVIVOR ANNUITY
<TABLE>
<CAPTION>
AGE AGE OF FEMALE
OF
MALE 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $4.35 $4.40 $4.44 $4.48 $4.52 $4.55 $4.57 $4.59 $4.60 $4.61 $4.62 $4.63
40 4.38 4.44 4.50 4.56 4.61 4.66 4.70 4.73 4.75 4.77 4.78 4.79
45 4.41 4.48 4.56 4.64 4.72 4.79 4.85 4.90 4.94 4.97 4.99 5.00
50 4.42 4.51 4.61 4.71 4.82 4.93 5.02 5.10 5.17 5.21 5.25 5.27
55 4.44 4.54 4.65 4.78 4.92 5.07 5.21 5.34 5.45 5.53 5.58 5.62
60 4.45 4.55 4.68 4.83 5.01 5.21 5.41 5.61 5.78 5.92 6.02 6.08
65 4.46 4.57 4.71 4.88 5.09 5.33 5.60 5.89 6.17 6.40 6.58 6.70
70 4.47 4.58 4.73 4.91 5.14 5.43 5.78 6.17 6.58 6.97 7.29 7.52
75 4.47 4.59 4.74 4.94 5.19 5.51 5.91 6.41 6.98 7.57 8.11 8.53
80 4.48 4.59 4.75 4.95 5.21 5.56 6.01 6.60 7.33 8.16 9.00 9.72
85 4.48 4.60 4.76 4.96 5.23 5.60 6.08 6.73 7.60 8.66 9.86 11.01
90 4.48 4.60 4.76 4.97 5.25 5.62 6.12 6.82 7.79 9.05 10.61 12.27
</TABLE>
VA99SXD5 Page 26 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 5% ASSUMED INVESTMENT RETURN
(CONTINUED)
FIFTH OPTION - JOINT AND LAST SURVIVOR ANNUITY WITH 10 YEAR PERIOD CERTAIN
<TABLE>
<CAPTION>
AGE AGE OF FEMALE
OF
MALE 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $4.35 $4.40 $4.44 $4.48 $4.52 $4.55 $4.57 $4.59 $4.60 $4.61 $4.62 $4.62
40 4.38 4.44 4.50 4.56 4.61 4.66 4.70 4.73 4.75 4.77 4.78 4.78
45 4.41 4.48 4.56 4.64 4.72 4.79 4.85 4.90 4.93 4.96 4.98 4.99
50 4.42 4.51 4.61 4.71 4.82 4.93 5.02 5.10 5.16 5.20 5.23 5.24
55 4.44 4.53 4.65 4.78 4.92 5.07 5.21 5.33 5.44 5.51 5.55 5.58
60 4.45 4.55 4.68 4.83 5.01 5.20 5.41 5.60 5.76 5.89 5.97 6.01
65 4.46 4.57 4.71 4.88 5.08 5.33 5.60 5.88 6.14 6.35 6.49 6.57
70 4.47 4.58 4.73 4.91 5.14 5.42 5.76 6.14 6.52 6.86 7.10 7.24
75 4.47 4.59 4.74 4.93 5.18 5.49 5.89 6.36 6.88 7.37 7.75 7.98
80 4.47 4.59 4.75 4.95 5.20 5.54 5.97 6.52 7.16 7.82 8.36 8.70
85 4.48 4.60 4.75 4.95 5.22 5.57 6.03 6.62 7.35 8.14 8.83 9.29
90 4.48 4.60 4.75 4.96 5.23 5.58 6.05 6.68 7.46 8.34 9.13 9.68
</TABLE>
SIXTH OPTION - PAYMENTS FOR A PERIOD CERTAIN
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF
YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY
PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
5 $18.74 10 $10.51 15 $7.82 20 $6.51 25 $5.76 30 $5.28
6 15.99 11 9.77 16 7.49 21 6.33 26 5.65
7 14.02 12 9.16 17 7.20 22 6.17 27 5.54
8 12.56 13 8.64 18 6.94 23 6.02 28 5.45
9 11.42 14 8.20 19 6.71 24 5.88 29 5.36
</TABLE>
VA99SXD5 Page 27 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 6% ASSUMED INVESTMENT RETURN
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000 APPLIED
Second and subsequent Annuity payments under a variable annuity are based on the
investment experience of a Separate Account and are not guaranteed as to fixed
dollar amount. Payments for any available Annuity Payment Frequency, Period
Certain, age, or combination of ages not shown will be quoted upon request. The
Second Option (Life Annuity with a Cash Refund) is not available with the 6%
Assumed Investment Return.
FIRST AND THIRD OPTIONS - SINGLE LIFE ANNUITIES
<TABLE>
<CAPTION>
MALE ANNUITANT FEMALE ANNUITANT
MONTHLY PAYMENTS GUARANTEED MONTHLY PAYMENTS GUARANTEED
AGE NONE 120 180 240 NONE 120 180 240
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
35 $5.31 $5.30 $5.29 $5.27 $5.17 $5.17 $5.16 $5.15
40 5.46 5.45 5.43 5.40 5.28 5.27 5.26 5.25
45 5.67 5.64 5.60 5.56 5.43 5.42 5.40 5.38
50 5.94 5.89 5.83 5.75 5.63 5.60 5.58 5.54
51 6.00 5.94 5.88 5.80 5.67 5.65 5.62 5.58
52 6.07 6.00 5.93 5.84 5.72 5.70 5.66 5.62
53 6.14 6.07 5.99 5.89 5.78 5.75 5.71 5.66
54 6.22 6.14 6.05 5.94 5.84 5.80 5.76 5.70
55 6.30 6.21 6.11 5.99 5.90 5.86 5.81 5.75
56 6.38 6.28 6.18 6.04 5.96 5.92 5.87 5.80
57 6.47 6.36 6.24 6.09 6.03 5.98 5.92 5.85
58 6.57 6.45 6.32 6.14 6.10 6.05 5.98 5.90
59 6.67 6.54 6.39 6.19 6.18 6.12 6.05 5.95
60 6.78 6.64 6.47 6.25 6.27 6.20 6.12 6.01
61 6.90 6.74 6.55 6.30 6.36 6.28 6.19 6.06
62 7.03 6.84 6.63 6.36 6.46 6.37 6.26 6.12
63 7.17 6.96 6.71 6.41 6.56 6.46 6.34 6.18
64 7.32 7.07 6.80 6.47 6.67 6.56 6.42 6.24
65 7.48 7.20 6.88 6.52 6.79 6.66 6.51 6.30
66 7.66 7.33 6.97 6.57 6.92 6.77 6.59 6.36
67 7.84 7.46 7.06 6.62 7.06 6.89 6.69 6.42
68 8.04 7.60 7.15 6.67 7.21 7.01 6.78 6.48
69 8.25 7.74 7.24 6.71 7.37 7.14 6.88 6.54
70 8.48 7.89 7.33 6.75 7.54 7.28 6.97 6.59
75 9.86 8.68 7.73 6.91 8.67 8.08 7.47 6.83
80 11.81 9.47 8.04 7.00 10.35 8.99 7.89 6.96
</TABLE>
FOURTH OPTION - JOINT AND LAST SURVIVOR ANNUITY
<TABLE>
<CAPTION>
AGE AGE OF FEMALE
OF
MALE 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $5.05 $5.09 $5.13 $5.16 $5.19 $5.22 $5.25 $5.27 $5.28 $5.29 $5.30 $5.30
40 5.08 5.13 5.18 5.23 5.28 5.32 5.36 5.39 5.41 5.43 5.45 5.45
45 5.10 5.16 5.23 5.30 5.37 5.43 5.49 5.54 5.58 5.61 5.64 5.65
50 5.11 5.19 5.27 5.36 5.46 5.56 5.65 5.73 5.80 5.85 5.88 5.91
55 5.13 5.21 5.31 5.42 5.55 5.69 5.82 5.95 6.06 6.14 6.20 6.24
60 5.14 5.23 5.34 5.48 5.64 5.82 6.01 6.20 6.37 6.52 6.62 6.69
65 5.15 5.24 5.36 5.52 5.71 5.94 6.20 6.47 6.75 6.99 7.17 7.30
70 5.16 5.26 5.38 5.55 5.77 6.04 6.36 6.74 7.15 7.54 7.86 8.10
75 5.16 5.26 5.40 5.58 5.81 6.11 6.50 6.98 7.54 8.13 8.67 9.10
80 5.17 5.27 5.41 5.60 5.84 6.17 6.60 7.17 7.89 8.71 9.55 10.28
85 5.17 5.27 5.42 5.61 5.86 6.21 6.68 7.31 8.16 9.22 10.41 11.56
90 5.17 5.28 5.42 5.61 5.88 6.23 6.72 7.40 8.36 9.62 11.16 12.81
</TABLE>
VA99SXD6 Page 28 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 6% ASSUMED INVESTMENT RETURN
(CONTINUED)
FIFTH OPTION - JOINT AND LAST SURVIVOR ANNUITY WITH 10 YEAR PERIOD CERTAIN
<TABLE>
<CAPTION>
AGE AGE OF FEMALE
OF
MALE 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $5.05 $5.09 $5.13 $5.16 $5.19 $5.22 $5.25 $5.26 $5.28 $5.29 $5.30 $5.30
40 5.08 5.13 5.18 5.23 5.28 5.32 5.36 5.39 5.41 5.43 5.44 5.44
45 5.10 5.16 5.23 5.30 5.37 5.43 5.49 5.54 5.58 5.61 5.62 5.63
50 5.11 5.19 5.27 5.36 5.46 5.56 5.65 5.72 5.79 5.83 5.86 5.88
55 5.13 5.21 5.31 5.42 5.55 5.69 5.82 5.94 6.04 6.12 6.17 6.19
60 5.14 5.23 5.34 5.47 5.63 5.82 6.01 6.19 6.36 6.48 6.56 6.61
65 5.15 5.24 5.36 5.52 5.71 5.93 6.19 6.46 6.71 6.92 7.07 7.14
70 5.16 5.25 5.38 5.55 5.76 6.03 6.35 6.71 7.08 7.42 7.66 7.79
75 5.16 5.26 5.40 5.57 5.80 6.10 6.47 6.93 7.43 7.91 8.29 8.51
80 5.17 5.27 5.41 5.59 5.83 6.15 6.56 7.09 7.71 8.35 8.88 9.21
85 5.17 5.27 5.41 5.60 5.84 6.17 6.62 7.19 7.90 8.67 9.34 9.78
90 5.17 5.27 5.41 5.60 5.85 6.19 6.64 7.25 8.01 8.86 9.63 10.16
</TABLE>
SIXTH OPTION - PAYMENTS FOR A PERIOD CERTAIN
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF
YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY
PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
5 $19.17 10 $10.97 15 $8.31 20 $7.04 25 $6.32 30 $5.87
6 16.42 11 10.24 16 7.99 21 6.86 26 6.21
7 14.46 12 9.63 17 7.71 22 6.70 27 6.11
8 13.00 13 9.12 18 7.46 23 6.56 28 6.02
9 11.87 14 8.69 19 7.24 24 6.43 29 5.94
</TABLE>
VA99SXD6 Page 29 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
FIXED PAYMENTS,
BASED ON A 2 1/2% ASSUMED INVESTMENT RETURN
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000 APPLIED
Fixed Dollar Annuity payments will not vary and are guaranteed as to fixed
dollar amount. Payments for any available Annuity Payment Frequency, Period
Certain, age, or combination of ages not shown will be quoted upon request. The
Second Option (Life Annuity with a Cash Refund) is not available with the 2 1/2%
Assumed Investment Return.
FIRST AND THIRD OPTIONS - SINGLE LIFE ANNUITIES
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
MONTHLY PAYMENTS GUARANTEED
AGE NONE 120 180 240
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
35 $2.97 $2.97 $2.96 $2.95
40 3.15 3.14 3.13 3.12
45 3.36 3.35 3.34 3.31
50 3.64 3.62 3.59 3.55
51 3.70 3.68 3.65 3.60
52 3.77 3.74 3.71 3.66
53 3.84 3.81 3.77 3.72
54 3.91 3.88 3.84 3.77
55 3.99 3.96 3.91 3.83
56 4.07 4.03 3.98 3.90
57 4.16 4.11 4.05 3.96
58 4.25 4.20 4.13 4.03
59 4.35 4.29 4.21 4.09
60 4.45 4.39 4.30 4.16
61 4.56 4.49 4.38 4.23
62 4.68 4.60 4.47 4.30
63 4.81 4.71 4.57 4.36
64 4.94 4.83 4.67 4.44
65 5.08 4.95 4.76 4.51
66 5.24 5.08 4.87 4.58
67 5.40 5.22 4.97 4.64
68 5.58 5.36 5.08 4.71
69 5.76 5.51 5.19 4.77
70 5.96 5.66 5.29 4.83
75 7.20 6.53 5.82 5.07
80 8.98 7.47 6.24 5.21
</TABLE>
FOURTH OPTION - JOINT AND LAST SURVIVOR ANNUITY
<TABLE>
<CAPTION>
AGE OF AGE OF SECOND ANNUITANT
FIRST
ANNUITANT 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $2.74 $2.80 $2.84 $2.88 $2.91 $2.93 $2.94 $2.95 $2.96 $2.96 $2.97 $2.97
40 2.80 2.87 2.94 2.99 3.03 3.07 3.09 3.11 3.13 3.13 3.14 3.14
45 2.84 2.94 3.02 3.10 3.18 3.23 3.28 3.30 3.33 3.34 3.35 3.36
50 2.88 2.99 3.10 3.22 3.32 3.41 3.48 3.53 3.57 3.60 3.61 3.63
55 2.91 3.03 3.18 3.32 3.46 3.60 3.72 3.80 3.87 3.92 3.95 3.96
60 2.93 3.07 3.23 3.41 3.60 3.79 3.97 4.12 4.24 4.32 4.38 4.41
65 2.94 3.09 3.28 3.48 3.72 3.97 4.22 4.46 4.66 4.82 4.93 5.00
70 2.95 3.11 3.30 3.53 3.80 4.12 4.46 4.81 5.14 5.42 5.63 5.77
75 2.96 3.13 3.33 3.57 3.87 4.24 4.66 5.14 5.64 6.11 6.50 6.78
80 2.96 3.13 3.34 3.60 3.92 4.32 4.82 5.42 6.11 6.82 7.49 8.03
85 2.97 3.14 3.35 3.61 3.95 4.38 4.93 5.63 6.50 7.49 8.52 9.46
90 2.97 3.14 3.36 3.63 3.96 4.41 5.00 5.77 6.78 8.03 9.46 10.91
</TABLE>
VA99USX2.5 Page 30 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
FIXED PAYMENTS,
BASED ON A 2 1/2%ASSUMED INVESTMENT RETURN
(CONTINUED)
FIFTH OPTION - JOINT AND LAST SURVIVOR ANNUITY WITH 10 YEAR PERIOD CERTAIN
<TABLE>
<CAPTION>
AGE OF AGE OF SECOND ANNUITANT
FIRST
ANNUITANT 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $2.74 $2.80 $2.84 $2.88 $2.91 $2.93 $2.94 $2.95 $2.96 $2.96 $2.97 $2.97
40 2.80 2.87 2.94 2.99 3.03 3.07 3.09 3.11 3.13 3.13 3.13 3.14
45 2.84 2.94 3.02 3.10 3.18 3.23 3.28 3.30 3.32 3.34 3.35 3.35
50 2.88 2.99 3.10 3.22 3.32 3.41 3.48 3.53 3.57 3.59 3.61 3.61
55 2.91 3.03 3.18 3.32 3.46 3.60 3.71 3.80 3.87 3.91 3.94 3.95
60 2.93 3.07 3.23 3.41 3.60 3.78 3.96 4.11 4.23 4.31 4.35 4.37
65 2.94 3.09 3.28 3.48 3.71 3.96 4.21 4.45 4.65 4.79 4.87 4.92
70 2.95 3.11 3.30 3.53 3.80 4.11 4.45 4.79 5.10 5.35 5.52 5.61
75 2.96 3.13 3.32 3.57 3.87 4.23 4.65 5.10 5.56 5.96 6.25 6.41
80 2.96 3.13 3.34 3.59 3.91 4.31 4.79 5.35 5.96 6.54 6.99 7.27
85 2.97 3.13 3.35 3.61 3.94 4.35 4.87 5.52 6.25 6.99 7.61 8.01
90 2.97 3.14 3.35 3.61 3.95 4.37 4.92 5.61 6.41 7.27 8.01 8.51
</TABLE>
SIXTH OPTION - PAYMENTS FOR A PERIOD CERTAIN
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF
YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY
PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
5 $17.70 10 $9.39 15 $6.64 20 $5.27 25 $4.46 30 $3.93
6 14.93 11 8.64 16 6.30 21 5.08 26 4.34
7 12.95 12 8.02 17 6.00 22 4.90 27 4.22
8 11.47 13 7.49 18 5.73 23 4.74 28 4.12
9 10.32 14 7.03 19 5.49 24 4.60 29 4.02
</TABLE>
VA99SXD2.5 Page 31 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 3% ASSUMED INVESTMENT RETURN
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000 APPLIED
The second and subsequent annuity payments under a variable annuity are based on
the investment experience of a Separate Account and are not guaranteed as to
fixed dollar amount. Payments for any available Annuity Payment Frequency,
Period Certain, age, or combination of ages not shown will be quoted upon
request. The Second Option (Life Annuity with a Cash Refund) is not available
with the 3% Assumed Investment Return.
FIRST AND THIRD OPTIONS - SINGLE LIFE ANNUITIES
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
MONTHLY PAYMENTS GUARANTEED
AGE NONE 120 180 240
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
35 $3.27 $3.26 $3.26 $3.25
40 3.44 3.43 3.42 3.41
45 3.65 3.64 3.62 3.60
50 3.92 3.90 3.87 3.83
51 3.98 3.96 3.93 3.88
52 4.05 4.02 3.99 3.93
53 4.12 4.09 4.05 3.99
54 4.19 4.16 4.11 4.05
55 4.27 4.23 4.18 4.11
56 4.35 4.31 4.25 4.17
57 4.44 4.39 4.33 4.23
58 4.53 4.47 4.40 4.29
59 4.62 4.56 4.48 4.36
60 4.73 4.66 4.57 4.43
61 4.84 4.76 4.65 4.49
62 4.95 4.87 4.74 4.56
63 5.08 4.98 4.84 4.63
64 5.21 5.09 4.93 4.70
65 5.36 5.22 5.03 4.77
66 5.51 5.35 5.13 4.83
67 5.67 5.48 5.24 4.90
68 5.85 5.63 5.34 4.96
69 6.03 5.77 5.45 5.03
70 6.23 5.93 5.55 5.08
75 7.47 6.79 6.07 5.32
80 9.25 7.72 6.48 5.45
</TABLE>
FOURTH OPTION - JOINT AND LAST SURVIVOR ANNUITY
<TABLE>
<CAPTION>
AGE OF AGE OF SECOND ANNUITANT
FIRST
ANNUITANT 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $3.05 $3.10 $3.14 $3.18 $3.21 $3.22 $3.24 $3.25 $3.26 $3.26 $3.26 $3.27
40 3.10 3.17 3.23 3.29 3.33 3.36 3.39 3.41 3.42 3.43 3.43 3.43
45 3.14 3.23 3.32 3.40 3.47 3.52 3.56 3.59 3.62 3.63 3.64 3.64
50 3.18 3.29 3.40 3.51 3.61 3.70 3.77 3.82 3.86 3.88 3.90 3.91
55 3.21 3.33 3.47 3.61 3.76 3.89 4.00 4.09 4.16 4.20 4.23 4.25
60 3.22 3.36 3.52 3.70 3.89 4.08 4.25 4.40 4.52 4.60 4.65 4.69
65 3.24 3.39 3.56 3.77 4.00 4.25 4.51 4.75 4.95 5.10 5.21 5.27
70 3.25 3.41 3.59 3.82 4.09 4.40 4.75 5.11 5.44 5.71 5.92 6.05
75 3.26 3.42 3.62 3.86 4.16 4.52 4.95 5.44 5.94 6.41 6.79 7.06
80 3.26 3.43 3.63 3.88 4.20 4.60 5.10 5.71 6.41 7.13 7.79 8.32
85 3.26 3.43 3.64 3.90 4.23 4.65 5.21 5.92 6.79 7.79 8.83 9.76
90 3.27 3.43 3.64 3.91 4.25 4.69 5.27 6.05 7.06 8.32 9.76 11.22
</TABLE>
VA99UST3 Page 32 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 3% ASSUMED INVESTMENT RETURN
(CONTINUED)
FIFTH OPTION - JOINT AND LAST SURVIVOR ANNUITY WITH 10 YEAR PERIOD CERTAIN
<TABLE>
<CAPTION>
AGE OF AGE OF SECOND ANNUITANT
FIRST
ANNUITANT 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $3.05 $3.10 $3.14 $3.18 $3.21 $3.22 $3.24 $3.25 $3.26 $3.26 $3.26 $3.26
40 3.10 3.17 3.23 3.29 3.33 3.36 3.39 3.40 3.42 3.42 3.43 3.43
45 3.14 3.23 3.32 3.40 3.47 3.52 3.56 3.59 3.61 3.63 3.63 3.64
50 3.18 3.29 3.40 3.51 3.61 3.70 3.77 3.82 3.85 3.88 3.89 3.90
55 3.21 3.33 3.47 3.61 3.76 3.89 4.00 4.09 4.15 4.19 4.21 4.22
60 3.22 3.36 3.52 3.70 3.89 4.08 4.25 4.40 4.51 4.58 4.62 4.65
65 3.24 3.39 3.56 3.77 4.00 4.25 4.50 4.74 4.93 5.06 5.15 5.19
70 3.25 3.40 3.59 3.82 4.09 4.40 4.74 5.08 5.39 5.63 5.79 5.88
75 3.26 3.42 3.61 3.85 4.15 4.51 4.93 5.39 5.85 6.25 6.52 6.68
80 3.26 3.42 3.63 3.88 4.19 4.58 5.06 5.63 6.25 6.82 7.26 7.53
85 3.26 3.43 3.63 3.89 4.21 4.62 5.15 5.79 6.52 7.26 7.87 8.26
90 3.26 3.43 3.64 3.90 4.22 4.65 5.19 5.88 6.68 7.53 8.26 8.76
</TABLE>
SIXTH OPTION - PAYMENTS FOR A PERIOD CERTAIN
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF
YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY
PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
5 $17.91 10 $9.61 15 $6.87 20 $5.51 25 $4.71 30 $4.18
6 15.14 11 8.86 16 6.53 21 5.32 26 4.59
7 13.16 12 8.24 17 6.23 22 5.15 27 4.47
8 11.68 13 7.71 18 5.96 23 4.99 28 4.37
9 10.53 14 7.26 19 5.73 24 4.84 29 4.27
</TABLE>
VA99UST3 Page 33 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 5% ASSUMED INVESTMENT RETURN
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000 APPLIED
Second and subsequent Annuity payments under a variable annuity are based on the
investment experience of a Separate Account and are not guaranteed as to fixed
dollar amount. Payments for any available Annuity Payment Frequency, Period
Certain, age, or combination of ages not shown will be quoted upon request.
FIRST, SECOND, AND THIRD OPTIONS - SINGLE LIFE ANNUITIES
<TABLE>
<CAPTION>
-----------------------------------------------------------------------
MONTHLY PAYMENTS GUARANTEED
AGE NONE 120 180 240 CASH REFUND
-----------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
35 $4.56 $4.55 $4.54 $4.53 $4.53
40 4.70 4.69 4.68 4.66 4.66
45 4.89 4.87 4.85 4.82 4.82
50 5.14 5.11 5.07 5.02 5.03
51 5.20 5.16 5.12 5.06 5.08
52 5.26 5.22 5.17 5.11 5.13
53 5.32 5.28 5.23 5.16 5.19
54 5.39 5.34 5.29 5.21 5.25
55 5.46 5.41 5.35 5.26 5.31
56 5.54 5.48 5.41 5.31 5.37
57 5.62 5.56 5.48 5.37 5.44
58 5.71 5.64 5.55 5.43 5.51
59 5.81 5.72 5.62 5.48 5.58
60 5.91 5.81 5.70 5.54 5.66
61 6.01 5.91 5.78 5.60 5.75
62 6.13 6.01 5.86 5.66 5.83
63 6.25 6.11 5.95 5.72 5.93
64 6.38 6.23 6.04 5.79 6.03
65 6.52 6.34 6.13 5.85 6.13
66 6.68 6.47 6.22 5.91 6.24
67 6.84 6.60 6.32 5.97 6.35
68 7.01 6.73 6.41 6.02 6.48
69 7.20 6.88 6.51 6.08 6.61
70 7.40 7.02 6.61 6.13 6.74
75 8.65 7.84 7.08 6.34 7.54
80 10.45 8.73 7.46 6.45 8.59
</TABLE>
FOURTH OPTION - JOINT AND LAST SURVIVOR ANNUITY
<TABLE>
<CAPTION>
AGE OF AGE OF SECOND ANNUITANT
FIRST
ANNUITANT 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $4.36 $4.40 $4.43 $4.46 $4.48 $4.50 $4.52 $4.53 $4.54 $4.55 $4.55 $4.55
40 4.40 4.45 4.50 4.54 4.58 4.61 4.64 4.66 4.67 4.68 4.69 4.70
45 4.43 4.50 4.57 4.63 4.69 4.74 4.79 4.82 4.84 4.86 4.87 4.88
50 4.46 4.54 4.63 4.73 4.81 4.89 4.96 5.02 5.06 5.09 5.11 5.12
55 4.48 4.58 4.69 4.81 4.94 5.06 5.17 5.26 5.33 5.38 5.41 5.43
60 4.50 4.61 4.74 4.89 5.06 5.23 5.39 5.54 5.66 5.75 5.81 5.85
65 4.52 4.64 4.79 4.96 5.17 5.39 5.63 5.86 6.07 6.23 6.34 6.42
70 4.53 4.66 4.82 5.02 5.26 5.54 5.86 6.20 6.53 6.81 7.03 7.18
75 4.54 4.67 4.84 5.06 5.33 5.66 6.07 6.53 7.02 7.49 7.88 8.17
80 4.55 4.68 4.86 5.09 5.38 5.75 6.23 6.81 7.49 8.20 8.87 9.41
85 4.55 4.69 4.87 5.11 5.41 5.81 6.34 7.03 7.88 8.87 9.90 10.85
90 4.55 4.70 4.88 5.12 5.43 5.85 6.42 7.18 8.17 9.41 10.85 12.30
</TABLE>
VA99UST5 Page 34 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 5% ASSUMED INVESTMENT RETURN
(CONTINUED)
FIFTH OPTION - JOINT AND LAST SURVIVOR ANNUITY WITH 10 YEAR PERIOD CERTAIN
<TABLE>
<CAPTION>
AGE OF AGE OF SECOND ANNUITANT
FIRST
ANNUITANT 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $4.36 $4.40 $4.43 $4.46 $4.48 $4.50 $4.52 $4.53 $4.54 $4.55 $4.55 $4.55
40 4.40 4.45 4.50 4.54 4.58 4.61 4.64 4.66 4.67 4.68 4.69 4.69
45 4.43 4.50 4.57 4.63 4.69 4.74 4.78 4.82 4.84 4.86 4.87 4.87
50 4.46 4.54 4.63 4.73 4.81 4.89 4.96 5.01 5.05 5.08 5.09 5.10
55 4.48 4.58 4.69 4.81 4.94 5.06 5.16 5.25 5.32 5.36 5.39 5.40
60 4.50 4.61 4.74 4.89 5.06 5.22 5.39 5.53 5.64 5.72 5.77 5.80
65 4.52 4.64 4.78 4.96 5.16 5.39 5.62 5.85 6.04 6.18 6.27 6.31
70 4.53 4.66 4.82 5.01 5.25 5.53 5.85 6.17 6.47 6.71 6.88 6.97
75 4.54 4.67 4.84 5.05 5.32 5.64 6.04 6.47 6.91 7.30 7.57 7.74
80 4.55 4.68 4.86 5.08 5.36 5.72 6.18 6.71 7.30 7.85 8.27 8.54
85 4.55 4.69 4.87 5.09 5.39 5.77 6.27 6.88 7.57 8.27 8.85 9.23
90 4.55 4.69 4.87 5.10 5.40 5.80 6.31 6.97 7.74 8.54 9.23 9.70
</TABLE>
SIXTH OPTION - PAYMENTS FOR A PERIOD CERTAIN
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF
YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY
PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
5 $18.74 10 $10.51 15 $7.82 20 $6.51 25 $5.76 30 $5.28
6 15.99 11 9.77 16 7.49 21 6.33 26 5.65
7 14.02 12 9.16 17 7.20 22 6.17 27 5.54
8 12.56 13 8.64 18 6.94 23 6.02 28 5.45
9 11.42 14 8.20 19 6.71 24 5.88 29 5.36
</TABLE>
VA99UST5 Page 35 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 6% ASSUMED INVESTMENT RETURN
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000 APPLIED
Second and subsequent Annuity payments under a variable annuity are based on the
investment experience of a Separate Account and are not guaranteed as to fixed
dollar amount. Payments for any available Annuity Payment Frequency, Period
Certain, age, or combination of ages not shown will be quoted upon request. The
Second Option (Life Annuity with a Cash Refund) is not available with the 6%
Assumed Investment Return.
FIRST AND THIRD OPTIONS - SINGLE LIFE ANNUITIES
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
MONTHLY PAYMENTS GUARANTEED
AGE NONE 120 180 240
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
35 $5.24 $5.23 $5.23 $5.21
40 5.37 5.36 5.35 5.33
45 5.55 5.53 5.50 5.47
50 5.78 5.75 5.70 5.65
51 5.84 5.80 5.75 5.69
52 5.90 5.85 5.80 5.73
53 5.96 5.91 5.85 5.78
54 6.03 5.97 5.91 5.82
55 6.10 6.03 5.96 5.87
56 6.17 6.10 6.02 5.92
57 6.25 6.17 6.09 5.97
58 6.33 6.25 6.15 6.02
59 6.43 6.33 6.22 6.08
60 6.52 6.42 6.30 6.13
61 6.63 6.51 6.37 6.19
62 6.74 6.61 6.45 6.25
63 6.86 6.71 6.53 6.30
64 6.99 6.82 6.61 6.36
65 7.13 6.93 6.70 6.42
66 7.28 7.05 6.79 6.47
67 7.44 7.18 6.88 6.53
68 7.62 7.31 6.97 6.58
69 7.80 7.45 7.07 6.63
70 8.00 7.59 7.16 6.68
75 9.25 8.39 7.61 6.88
80 11.06 9.24 7.97 6.98
</TABLE>
FOURTH OPTION - JOINT AND LAST SURVIVOR ANNUITY
<TABLE>
<CAPTION>
AGE OF AGE OF SECOND ANNUITANT
FIRST
ANNUITANT 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $5.06 $5.09 $5.12 $5.14 $5.17 $5.19 $5.20 $5.21 $5.22 $5.23 $5.23 $5.24
40 5.09 5.13 5.17 5.21 5.25 5.28 5.31 5.33 5.34 5.35 5.36 5.37
45 5.12 5.17 5.23 5.29 5.35 5.40 5.44 5.47 5.50 5.52 5.53 5.54
50 5.14 5.21 5.29 5.37 5.45 5.53 5.60 5.65 5.69 5.72 5.75 5.76
55 5.17 5.25 5.35 5.45 5.57 5.68 5.78 5.87 5.94 6.00 6.04 6.06
60 5.19 5.28 5.40 5.53 5.68 5.84 6.00 6.14 6.26 6.35 6.42 6.46
65 5.20 5.31 5.44 5.60 5.78 6.00 6.22 6.45 6.65 6.81 6.93 7.01
70 5.21 5.33 5.47 5.65 5.87 6.14 6.45 6.78 7.10 7.38 7.60 7.76
75 5.22 5.34 5.50 5.69 5.94 6.26 6.65 7.10 7.58 8.05 8.44 8.74
80 5.23 5.35 5.52 5.72 6.00 6.35 6.81 7.38 8.05 8.75 9.42 9.97
85 5.23 5.36 5.53 5.75 6.04 6.42 6.93 7.60 8.44 9.42 10.45 11.40
90 5.24 5.37 5.54 5.76 6.06 6.46 7.01 7.76 8.74 9.97 11.40 12.85
</TABLE>
VA99UST6 Page 36 PRINTED IN U.S.A.
<PAGE>
ANNUITY TABLES FOR
VARIABLE PAYMENTS,
BASED ON A 6% ASSUMED INVESTMENT RETURN
(CONTINUED)
FIFTH OPTION - JOINT AND LAST SURVIVOR ANNUITY WITH 10 YEAR PERIOD CERTAIN
<TABLE>
<CAPTION>
AGE OF AGE OF SECOND ANNUITANT
FIRST
ANNUITANT 35 40 45 50 55 60 65 70 75 80 85 90
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
35 $5.06 $5.09 $5.12 $5.14 $5.17 $5.18 $5.20 $5.21 $5.22 $5.23 $5.23 $5.23
40 5.09 5.13 5.17 5.21 5.25 5.28 5.30 5.32 5.34 5.35 5.36 5.36
45 5.12 5.17 5.23 5.29 5.35 5.39 5.43 5.47 5.49 5.51 5.52 5.52
50 5.14 5.21 5.29 5.37 5.45 5.53 5.59 5.65 5.69 5.71 5.73 5.74
55 5.17 5.25 5.35 5.45 5.57 5.68 5.78 5.87 5.93 5.98 6.01 6.02
60 5.18 5.28 5.39 5.53 5.68 5.83 5.99 6.13 6.24 6.32 6.37 6.40
65 5.20 5.30 5.43 5.59 5.78 5.99 6.21 6.43 6.62 6.76 6.85 6.90
70 5.21 5.32 5.47 5.65 5.87 6.13 6.43 6.74 7.04 7.28 7.44 7.53
75 5.22 5.34 5.49 5.69 5.93 6.24 6.62 7.04 7.46 7.84 8.12 8.28
80 5.23 5.35 5.51 5.71 5.98 6.32 6.76 7.28 7.84 8.38 8.80 9.06
85 5.23 5.36 5.52 5.73 6.01 6.37 6.85 7.44 8.12 8.80 9.36 9.72
90 5.23 5.36 5.52 5.74 6.02 6.40 6.90 7.53 8.28 9.06 9.72 10.18
</TABLE>
SIXTH OPTION - PAYMENTS FOR A PERIOD CERTAIN
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF NO. OF AMOUNT OF
YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY YEARS MONTHLY
PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS PAYMENTS
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
5 $19.17 10 $10.97 15 $8.31 20 $7.04 25 $6.32 30 $5.87
6 16.42 11 10.24 16 7.99 21 6.86 26 6.21
7 14.46 12 9.63 17 7.71 22 6.70 27 6.11
8 13.00 13 9.12 18 7.46 23 6.56 28 6.02
9 11.87 14 8.69 19 7.24 24 6.43 29 5.94
</TABLE>
VA99UST6 Page 37 PRINTED IN U.S.A.
