SUPPLEMENT DATED AUGUST 30, 1999
TO THE PROSPECTUS DATED MAY 1, 1999 FOR PARK AVENUE LIFE
THIS SUPPLEMENT APPLIES ONLY TO POLICIES ISSUED IN THE STATE OF NEW YORK
The following supplemental information should be read in conjunction with
the Prospectus dated May 1, 1999 for the Variable Whole Life Insurance Policy
with Modified Scheduled Premium issued by The Guardian Insurance & Annuity
Company, Inc. ("GIAC") through The Guardian Separate Account K and marketed
under the name "Park Avenue Life". The information contained in this supplement
is applicable only to policies issued in the state of New York and supersedes
certain information contained in the prospectus.
YOU HAVE THE RIGHT TO CANCEL THIS POLICY BY RETURNING IT WITH A WRITTEN
CANCELLATION NOTICE TO EITHER OUR EXECUTIVE OFFICE OR THE AGENT FROM WHOM YOU
BOUGHT THE POLICY. IF YOU CHOOSE TO EXERCISE THIS RIGHT YOU MUST DO SO WITHIN
THE LATER OF: (A) 10 DAYS OF RECEIVING YOUR POLICY, OR (B) 45 DAYS OF SIGNING
PART 1 OF YOUR COMPLETED POLICY APPLICATION.
YOU ALSO HAVE THE RIGHT DURING THE FIRST 24 POLICY MONTHS, TO EXCHANGE YOUR
POLICY FOR A FIXED-BENEFIT WHOLE LIFE POLICY ISSUED BY US OR ONE OF OUR
AFFILIATES. PLEASE SEE THE SECTION OF YOUR PROSPECTUS ENTITLED "FIXED-BENEFIT
INSURANCE DURING THE FIRST 24 MONTHS" FOR A FULL DESCRIPTION OF THIS BENEFIT.
Unless specifically addressed herein, all terms and provisions of the Prospectus
shall continue in full force and effect.
I
Deductions and Charges
Monthly deductions from the policy account value
Policy and administration charges
Policy charge: For the first three policy years, you pay a policy charge of $10
per month. After three years the charge is currently $4 per month and is
guaranteed never to exceed $4 per month.
II
Transaction Deductions from the Policy account value
Surrender Charge
This charge is a flat rate for every $1,000 of your policy's face amount. The
rate declines each year until it is zero after 12 years, and varies from $5.37
to $49.81 per $1,000, depending on the insured's age when the policy started,
sex and premium class. The surrender charge compensates us for administrative
and sales-related expenses. Surrender charges for specific ages, sex and premium
classes are set out in Appendix B to this Supplement
<PAGE>
III
Deduction from the Separate Account
Income Tax Charge
We have the right to charge the Separate Account, the account through which we
invest your premiums in the variable investment option, for any federal, state
or local income taxes relating to the Separate Account. We also have the right
to impose additional charges if there is a change in our tax status, if the
income tax treatment of variable life insurance changes for insurance companies,
or for any other tax-related charges associated with the Separate Account or the
policies. We don't currently charge for taxes attributable to the Separate
Account. We will obtain prior approval from the Superintendent of Insurance for
New York State before we make such deductions.
IV
Premiums
Reinstating your policy
If your policy has lapsed (and you have not surrendered it for its net cash
surrender value) you may reinstate it up to five years after you defaulted. To
reinstate your policy:
o We must receive your request for reinstatement in writing at our executive
office
o The insured must be alive
o You must show that the insured meets our insurance requirements
o You must repay any outstanding policy debt with interest. Interest will be
compounded annually, at the rate that is in effect when you make your
request
o You must pay us all overdue premiums for any additional benefit riders
with 6% interest compounded annually, plus the greater of :
(i) all overdue policy premiums with 6% interest compounded annually, or
(ii) 110% of any increase in cash surrender value of your policy due to
your policy's reinstatement.
V
Special features of your policy
Policy loans
Interest on your policy loan
We charge interest at an annual rate of 8% on all outstanding policy debt,
payable in arrears, until either the 20th anniversary of your policy or the
insured's attained age 65, whichever is later. After this point the annual rate
falls to 5% for existing and new policy loans. Interest accrues daily and is due
on each policy anniversary. If you do not pay the interest on your loan when it
is due, we will transfer the interest that you owe first proportionately from
your policy account value in the variable investment options, and if this is
insufficient, from the fixed-rate option, into our Loan Collateral Account, and
add that interest to your policy debt.
During the period when policy loans bear interest at an annual rate of 8%, any
amounts in the Loan Collateral Account earn interest at a minimum annual rate of
6%. During the period when policy loans bear interest at an annual rate of 5%,
any amounts in the Loan Collateral Account earn interest at a minimum annual
rate of 4%. Although this means that you are effectively paying a maximum of 2%
interest on your policy loans, you are expected to pay the loan interest charged
when it is due.
<PAGE>
Policy proceeds
The amount that your beneficiaries will receive upon the death of the insured is
determined as explained under Death benefit options, and is payable when we
receive proof that the insured has died while the policy was in effect. It will
include:
o the death proceeds based on the death benefit option you have chosen, plus
o any policy premium assessments paid for coverage beyond the monthly date
after the insured's death, plus
o the proceeds of any coverage you have added to your policy through riders,
minus
o any outstanding policy debt.
If your policy premium is overdue and the insured dies during the grace period,
we will calculate the death benefit as though the premium had been paid when due
and then deduct the amount that covered the period up to the policy month of the
insured's death.
If the person insured has reached attained age 100, the death proceeds will be
the policy account value minus any policy debt as of the date of death.
The death proceeds paid to the beneficiaries may also be adjusted if:
o the age or sex listed on the policy application is incorrect
o the insured commits suicide within two years of the policy issue date, or
the date a change in the death benefit from Option 1 to Option 2 (but only
for any increase in the death benefit over your policy's face amount that
was a result of the change) takes effect
o there are limits imposed by riders to the policy.
The amount of all other transactions will be calculated at the end of the
business day on which we receive the necessary instructions, information or
documentation at our executive office.
If the proceeds are being taken from your policy account value in the variable
investment options, we will normally pay proceeds within seven days of receiving
the necessary information. However, we may delay any transfers, loans or other
payments made from the variable investment options when:
o the New York Stock Exchange is closed, except for weekends or holidays, or
when trading has been restricted, or
o the Securities and Exchange Commission determines that a state of
emergency exists, making policy transactions impracticable.
We will pay interest on the death proceeds from the variable investment options,
from the date of the insured's death until the proceeds are paid, either in a
lump sum or through a payment option.
If the proceeds are from your policy account value in the fixed-rate option,
they will normally be paid promptly once we have received the necessary
information. However, we may delay any transfers, loans or other payments made
from the fixed-rate option for up to six months from the date of your request.
If we do this, we will pay interest in accordance with and at the rate required
by Section 3227 of the New York Insurance Laws on payments out of the fixed-rate
option that we delay for 10 days or more. Please note that requests for
transfers from the fixed-rate option may only be made during certain periods.
See Transfers from the fixed-rate option.
Requests for transfers, loans, or any other payment out of the fixed-rate option
will normally be paid promptly once we have received the necessary information.
However, we may delay any transfers, loans or other payments made from the
fixed-rate option for up to six months from the date of your request. If we do
this, we will pay interest at the rate required by Section 3227 of the New York
Insurance Laws.
<PAGE>
VI
The Separate Account
GIAC and Separate Account K are subject to the insurance laws of every
jurisdiction in which Park Avenue Life is delivered, including the insurance
laws of the state of New York.
This Supplement should be retained with your Prospectus for future reference
<PAGE>
- --------------------------------------------------------------------------------
APPENDIX A
- --------------------------------------------------------------------------------
ILLUSTRATIONS OF DEATH BENEFITS, POLICY ACCOUNT VALUES,
NET CASH SURRENDER VALUES AND ACCUMULATED POLICY PREMIUMS
The following tables illustrate how the policies operate. Specifically,
they show how the death benefit, net cash surrender value and policy account
value can vary over an extended period of time assuming hypothetical gross rates
of return (i.e., investment income and capital gains and losses, realized or
unrealized) for the Separate Account that are equal to constant after tax annual
rates of 0%, 6% and 12%. The tables are based on policies with face amounts of
$250,000 for a male insured at Age 40 and shown in the preferred plus
classification and also in the preferred classification. Values are first given
based on current charges and then based on the policy's higher guaranteed
charges. In addition, each illustration is given first for a policy with an
Option 1 death benefit and then for a policy with an Option 2 death benefit.
These illustrations may assist in the comparison of death benefits, net cash
surrender values and policy account values for Park Avenue Life policies with
those under other variable life insurance policies that may be issued by GIAC or
other companies. Prospective policyowners are advised, however, that it may not
be advantageous to replace existing life insurance coverage by purchasing a Park
Avenue Life policy, particularly if the decision to replace existing coverage is
based solely on a comparison of policy illustrations.
Death benefits, net cash surrender values and policy account values will
be different from the amounts shown if: (1) the actual gross rates of return
average 0%, 6% or 12%, but vary above and below the average over the period; and
(2) policy premiums are paid at other than annual intervals, or if Unscheduled
Payments are made. Benefits and values will also be affected by the
policyowner's allocation of the unloaned policy account value among the variable
investment options and the fixed-rate option. if the actual gross rate of return
for all options averages 0%, 6% or 12%, but varies above or below that average
for individual options, allocation and transfer decisions can have a significant
impact on a policy's performance. Policy loans and other policy transactions,
such as skipping policy premiums and partial withdrawals, will also affect
results, as will the insured's sex, smoker status and premium class.
Death benefits, net cash surrender values and policy account values shown
in the tables reflect the fact that: (1) deductions have been made from annual
policy premiums for policy premium assessments and premium charges; and (2)
monthly deductions are deducted from the policy account value on each monthly
date. The net cash surrender values shown in the tables reflect the fact that a
surrender charge is deducted upon surrender, face amount reduction or lapse
during the first 12 policy years. The death benefits, net cash surrender values
and policy account values also reflect a daily charge assessed against the
separate account for mortality and expense risks equivalent to an annual charge
of .60% (on a current basis) and .90% (on a guaranteed basis) of the average
daily value of the assets in the Separate Account attributable to the policies.
See "Deductions and charges." The amounts shown in the illustrations also
reflect an average of the investment advisory fees and operating expenses
incurred by the mutual funds, at an annual rate of 0.81% of the average daily
net assets of such funds.
The average is based upon actual expenses incurred during 1998 for all
funds, without regard for reimbursements made by the funds for previous years'
expense payments. The operating expenses for the MFS Bond Series were capped at
0.40% of the average daily net assets of the series pursuant to agreement with
the adviser.
The operating expense figures used for the Fidelity VIP III Growth
Opportunities, Fidelity VIP Equity-Income and Fidelity VIP High Income
Portfolios reflect the effects of expense reduction arrangements with third
parties which occurred during the year ended December 31, 1998. The operating
expense figures used for the Fidelity VIP II Index 500 Portfolio reflect the
effects of expense reimbursement of certain fund expenses which occurred during
the year ended December 31, 1998.
In the absence of these arrangements, operating expenses of the various
funds, and the average investment adviser fees and expenses used in the
following illustrations would have been higher. For an explanation of the
expenses see the accompanying fund prospectuses.
Taking account of the charges for mortality and expense risks in the
Separate Account and the average investment advisory fee and operating expenses
of the mutual funds, the gross annual rates of return of 0%, 6% and 12%
correspond to net investment experience at constant annual rates of -1.41%,
4.56% and 10.52%, respectively, based on GIAC's current charge for mortality and
expense risks, and -1.70%, 4.24% and 10.19%, respectively, based on GIAC's
guaranteed maximum charge for mortality and expense risks. See "Net investment
factor."
- ------------------------
116 P R O S P E C T U S P A R K A V E N U E L I F E
- ------------------------
<PAGE>
The Guardian Insurance & Annuity Company, Inc.
APPENDIX A
The hypothetical rates of return shown in the tables do not reflect any
tax charges attributable to the Separate Account since no charges are currently
made. If any such charges are imposed in the future, the gross annual rate of
return would have to exceed the rates shown by an amount sufficient to cover the
tax charges, in order to produce the death benefits, net cash surrender values
and policy account values illustrated. See "GIAC's Taxes."
The fourth column of each table shows the amount which would accumulate if
an amount equal to the annual policy premium was invested to earn interest,
after taxes, of 5% per year, compounded annually. There can be no assurance that
a prospective policyowner would be able to earn this return. During the
guaranteed premium period, the annual policy premium is $2,532.50 for the
preferred plus policy illustrated and $3,045 for the preferred policy
illustrated.
GIAC will furnish upon request an illustration reflecting the proposed
insured's Age, sex, premium class and the face amount or basic scheduled premium
requested, but a premium-based illustration must reflect GIAC's current minimum
face amount requirement for Park Avenue Life -- which is $100,000.
These illustrations will refer to "net outlay" as the cash flow into or
out of the policy. It is equal to the sum of all Policy Premiums and accrued
loan interest paid in cash and reduced by the proceeds of any policy loan or
partial withdrawal received in cash.
From time to time, advertisements or sales literature for Park Avenue Life
may quote historical performance data of one or more of the underlying funds,
and may include cash surrender values and death benefit figures computed using
the same methodology as that used in the following illustrations, but with
average annual total return of the underlying funds for which performance data
is shown in the advertisement or sales literature replacing the hypothetical
rates of return shown in the following tables. This information may be shown in
the form of graphs, charts, tables, and examples. Any such information is
intended to show the policy's investment experience based on the historical
experience of the underlying funds and is not intended to represent what may
happen in the future.
GIAC began to offer Park Avenue Life on December 10, 1997. As such the
policies may not have been available when the funds commenced their operations.
However, illustrations may be based on the actual investment experience of the
funds since their respective inception dates (See The variable investment
options - "Investment Performance of the Funds"). The result for any period
prior to the policies' being offered would be calculated as if the policies had
been offered during that period of time, with all charges assumed to be those
applicable to the policies. Thus the illustrations will reflect deductions for
each fund's expenses, as well as the Separate Account's charge for mortality and
expense risks, and the charges deducted from premiums, monthly deductions, and
any transaction deductions associated with the policy in question.
------------------------
A P P E N D I C E S P R O S P E C T U S 117
------------------------
<PAGE>
Male Issue Age 40, Preferred Plus Underwriting Risk
$250,000 Face Amount
Death Benefit Option 1
These values reflect CURRENT cost of insurance and other charges
<TABLE>
<CAPTION>
Assuming Current Assuming Current Assuming Current
Charges and 0% Gross Return Charges and 6% Gross Return Charges and 12% Gross Return
Premiums --------------------------- --------------------------- ----------------------------
Accumulated Net Net Net
End of Age at 5% Policy Cash Net Policy Cash Net Policy Cash Net
Policy Beginning Net Interest Account Surrender Death Account Surrender Death Account Surrender Death
Year of Year Outlay Per Year Value Value Benefit Value Value Benefit Value Value Benefit
- ---- ------- ------ -------- ----- ----- ------- ----- ----- ------- ----- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40 2,533 2,659 1,681 0 250,000 1,801 0 250,000 1,921 0 250,000
2 41 2,533 5,451 3,324 0 250,000 3,668 0 250,000 4,028 140 250,000
3 42 2,533 8,383 4,929 1,396 250,000 5,606 2,074 250,000 6,342 2,809 250,000
4 43 2,533 11,461 6,561 3,381 250,000 7,685 4,505 250,000 8,955 5,775 250,000
5 44 2,533 14,693 8,145 5,318 250,000 9,834 7,006 250,000 11,818 8,990 250,000
6 45 2,533 18,087 9,684 7,212 250,000 12,058 9,585 250,000 14,961 12,488 250,000
7 46 2,533 21,651 11,153 9,033 250,000 14,335 12,215 250,000 18,388 16,268 250,000
8 47 2,533 25,392 12,548 10,780 250,000 16,664 14,897 250,000 22,127 20,359 250,000
9 48 2,533 29,321 13,887 12,475 250,000 19,066 17,653 250,000 26,228 24,816 250,000
10 49 2,533 33,446 15,177 14,117 250,000 21,549 20,489 250,000 30,740 29,680 250,000
15 54 2,533 57,380 20,472 20,472 250,000 34,913 34,913 250,000 60,805 60,805 250,000
20 59 2,533 87,927 23,529 23,529 250,000 49,906 49,906 250,000 109,558 109,558 250,000
25 64 2,533 126,912 23,877 23,877 250,000 66,679 66,679 250,000 189,650 189,650 322,781
30 69 2,533 176,669 19,808 19,808 250,000 84,677 84,677 250,000 316,796 316,796 479,478
</TABLE>
IT IS EMPHASIZED THAT THE HYPOTHETICAL RESULTS SHOWN ABOVE AND ELSEWHERE IN THIS
PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF
PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL RESULTS MAY BE HIGHER OR
LOWER THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE
ALLOCATIONS MADE BY A POLICYOWNER, THE FREQUENCY OF THE PREMIUM PAYMENTS CHOSEN
BY A POLICYOWNER, THE INVESTMENT EXPERIENCE OF THE POLICY'S VARIABLE INVESTMENT
OPTIONS, AND THE RATE OF INTEREST PAID ON AMOUNTS HELD IN THE FIXED-RATE OPTION.
THE DEATH BENEFIT, POLICY ACCOUNT VALUE AND NET CASH SURRENDER VALUE FOR A
POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF
RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE AND
BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY
LOANS OR OTHER POLICY TRANSACTIONS WERE EFFECTED DURING THE PERIOD. NO
REPRESENTATIONS CAN BE MADE BY GIAC OR THE MUTUAL FUNDS THAT THE ILLUSTRATED
HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER
ANY PERIOD OF TIME.
THE RECALCULATED BASIC SCHEDULED PREMIUM (ROUNDED TO THE NEAREST DOLLAR) AT
ATTAINED AGE 70 WOULD BE $16,644, ASSUMING THE 0% RETURN; $6,696, ASSUMING THE
6% RETURN; AND $2,533, ASSUMING THE 12% RETURN.
<PAGE>
Male Issue Age 40, Preferred Plus Underwriting Risk
$250,000 Face Amount
Death Benefit Option 1
These values reflect GUARANTEED cost of insurance and other charges
<TABLE>
<CAPTION>
Assuming Guaranteed Assuming Guaranteed Assuming Guaranteed
Charges and 0% Gross Return Charges and 6% Gross Return Charges and 12% Gross Return
Premiums --------------------------- --------------------------- ----------------------------
Accumulated Net Net Net
End of Age at 5% Policy Cash Net Policy Cash Net Policy Cash Net
Policy Beginning Net Interest Account Surrender Death Account Surrender Death Account Surrender Death
Year of Year Outlay Per Year Value Value Benefit Value Value Benefit Value Value Benefit
- ---- ------- ------ -------- ----- ----- ------- ----- ----- ------- ----- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40 2,533 2,659 1,675 0 250,000 1,795 0 250,000 1,914 0 250,000
2 41 2,533 5,451 3,079 0 250,000 3,414 0 250,000 3,764 0 250,000
3 42 2,533 8,383 4,417 885 250,000 5,061 1,529 250,000 5,762 2,230 250,000
4 43 2,533 11,461 5,759 2,579 250,000 6,806 3,626 250,000 7,993 4,813 250,000
5 44 2,533 14,693 7,030 4,202 250,000 8,576 5,749 250,000 10,404 7,576 250,000
6 45 2,533 18,087 8,222 5,750 250,000 10,366 7,894 250,000 13,005 10,533 250,000
7 46 2,533 21,651 9,336 7,216 250,000 12,174 10,054 250,000 15,816 13,696 250,000
8 47 2,533 25,392 10,366 8,598 250,000 13,995 12,228 250,000 18,854 17,086 250,000
9 48 2,533 29,321 11,308 9,896 250,000 15,826 14,414 250,000 22,139 20,726 250,000
10 49 2,533 33,446 12,157 11,097 250,000 17,661 16,601 250,000 25,691 24,631 250,000
15 54 2,533 57,380 15,087 15,087 250,000 27,002 27,002 250,000 48,811 48,811 250,000
20 59 2,533 87,927 13,995 13,995 250,000 34,777 34,777 250,000 83,654 83,654 250,000
25 64 2,533 126,912 5,822 5,822 250,000 37,547 37,547 250,000 137,495 137,495 250,000
30 69 2,533 176,669 -15,284 0 250,000 28,326 28,326 250,000 221,145 221,145 334,709
</TABLE>
IT IS EMPHASIZED THAT THE HYPOTHETICAL RESULTS SHOWN ABOVE AND ELSEWHERE IN THIS
PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF
PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL RESULTS MAY BE HIGHER OR
LOWER THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE
ALLOCATIONS MADE BY A POLICYOWNER, THE FREQUENCY OF THE PREMIUM PAYMENTS CHOSEN
BY A POLICYOWNER, THE INVESTMENT EXPERIENCE OF THE POLICY'S VARIABLE INVESTMENT
OPTIONS, AND THE RATE OF INTEREST PAID ON AMOUNTS HELD IN THE FIXED-RATE OPTION.
THE DEATH BENEFIT, POLICY ACCOUNT VALUE AND NET CASH SURRENDER VALUE FOR A
POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF
RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE AND
BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY
LOANS OR OTHER POLICY TRANSACTIONS WERE EFFECTED DURING THE PERIOD. NO
REPRESENTATIONS CAN BE MADE BY GIAC OR THE MUTUAL FUNDS THAT THE ILLUSTRATED
HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER
ANY PERIOD OF TIME.
THE RECALCULATED BASIC SCHEDULED PREMIUM AT ATTAINED AGE 70 WOULD BE $17,888,
ASSUMING THE 0% RETURN; $15,350, ASSUMING THE 6% RETURN; AND $2,533 ASSUMING THE
12% RETURN.
<PAGE>
Male Issue Age 40, Preferred Plus Underwriting Risk
$250,000 Face Amount
Death Benefit Option 2
These values reflect CURRENT cost of insurance and other charges
<TABLE>
<CAPTION>
Assuming Current Assuming Current Assuming Current
Charges and 0% Gross Return Charges and 6% Gross Return Charges and 12% Gross Return
Premiums --------------------------- --------------------------- ----------------------------
Accumulated Net Net Net
End of Age at 5% Policy Cash Net Policy Cash Net Policy Cash Net
Policy Beginning Net Interest Account Surrender Death Account Surrender Death Account Surrender Death
Year of Year Outlay Per Year Value Value Benefit Value Value Benefit Value Value Benefit
- ---- ------- ------ -------- ----- ----- ------- ----- ----- ------- ----- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40 2,533 2,659 1,681 0 250,000 1,801 0 250,000 1,921 0 250,000
2 41 2,533 5,451 3,324 0 250,000 3,668 0 250,000 4,028 140 250,000
3 42 2,533 8,383 4,929 1,396 250,000 5,606 2,074 250,000 6,342 2,809 250,000
4 43 2,533 11,461 6,561 3,381 250,000 7,685 4,505 250,000 8,955 5,775 250,000
5 44 2,533 14,693 8,145 5,318 250,000 9,834 7,006 250,000 11,818 8,990 250,000
6 45 2,533 18,087 9,684 7,212 250,000 12,058 9,585 250,000 14,960 12,488 250,000
7 46 2,533 21,651 11,153 9,033 250,000 14,335 12,215 250,000 18,386 16,266 250,018
8 47 2,533 25,392 12,548 10,780 250,000 16,664 14,897 250,000 22,119 20,352 251,099
9 48 2,533 29,321 13,887 12,475 250,000 19,066 17,653 250,000 26,212 24,800 252,435
10 49 2,533 33,446 15,177 14,117 250,000 21,549 20,489 250,000 30,709 29,649 254,054
15 54 2,533 57,380 20,472 20,472 250,000 34,913 34,913 250,000 60,469 60,469 267,839
20 59 2,533 87,927 23,529 23,529 250,000 49,906 49,906 250,000 107,777 107,777 296,119
25 64 2,533 126,912 23,877 23,877 250,000 66,679 66,679 250,000 183,915 183,915 349,375
30 69 2,533 176,669 19,808 19,808 250,000 84,677 84,677 250,000 306,760 306,760 464,289
</TABLE>
IT IS EMPHASIZED THAT THE HYPOTHETICAL RESULTS SHOWN ABOVE AND ELSEWHERE IN THIS
PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF
PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL RESULTS MAY BE HIGHER OR
LOWER THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE
ALLOCATIONS MADE BY A POLICYOWNER, THE FREQUENCY OF THE PREMIUM PAYMENTS CHOSEN
BY A POLICYOWNER, THE INVESTMENT EXPERIENCE OF THE POLICY'S VARIABLE INVESTMENT
OPTIONS, AND THE RATE OF INTEREST PAID ON AMOUNTS HELD IN THE FIXED-RATE OPTION.
THE DEATH BENEFIT, POLICY ACCOUNT VALUE AND NET CASH SURRENDER VALUE FOR A
POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF
RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE AND
BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY
LOANS OR OTHER POLICY TRANSACTIONS WERE EFFECTED DURING THE PERIOD. NO
REPRESENTATIONS CAN BE MADE BY GIAC OR THE MUTUAL FUNDS THAT THE ILLUSTRATED
HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER
ANY PERIOD OF TIME.
THE RECALCULATED BASIC SCHEDULED PREMIUM (ROUNDED TO THE NEAREST DOLLAR) AT
ATTAINED AGE 70 WOULD BE $16,644, ASSUMING THE 0% RETURN; $6,696, ASSUMING THE
6% RETURN; AND $2,533, ASSUMING THE 12% RETURN.
<PAGE>
Male Issue Age 40, Preferred Plus Underwriting Risk
$250,000 Face Amount
Death Benefit Option 2
These values reflect GUARANTEED cost of insurance and other charges
<TABLE>
<CAPTION>
Assuming Guaranteed Assuming Guaranteed Assuming Guaranteed
Charges and 0% Gross Return Charges and 6% Gross Return Charges and 12% Gross Return
Premiums --------------------------- --------------------------- ----------------------------
Accumulated Net Net Net
End of Age at 5% Policy Cash Net Policy Cash Net Policy Cash Net
Policy Beginning Net Interest Account Surrender Death Account Surrender Death Account Surrender Death
Year of Year Outlay Per Year Value Value Benefit Value Value Benefit Value Value Benefit
- ---- ------- ------ -------- ----- ----- ------- ----- ----- ------- ----- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40 2,533 2,659 1,675 0 250,000 1,795 0 250,000 1,914 0 250,000
2 41 2,533 5,451 3,079 0 250,000 3,414 0 250,000 3,764 0 250,000
3 42 2,533 8,383 4,417 885 250,000 5,061 1,529 250,000 5,762 2,230 250,000
4 43 2,533 11,461 5,759 2,579 250,000 6,806 3,626 250,000 7,993 4,813 250,000
5 44 2,533 14,693 7,030 4,202 250,000 8,576 5,749 250,000 10,404 7,576 250,000
6 45 2,533 18,087 8,222 5,750 250,000 10,366 7,894 250,000 13,005 10,533 250,000
7 46 2,533 21,651 9,336 7,216 250,000 12,174 10,054 250,000 15,816 13,696 250,000
8 47 2,533 25,392 10,366 8,598 250,000 13,995 12,228 250,000 18,854 17,086 250,000
9 48 2,533 29,321 11,308 9,896 250,000 15,826 14,414 250,000 22,139 20,726 250,000
10 49 2,533 33,446 12,157 11,097 250,000 17,661 16,601 250,000 25,690 24,630 250,000
15 54 2,533 57,380 15,087 15,087 250,000 27,002 27,002 250,000 48,688 48,688 254,951
20 59 2,533 87,927 13,995 13,995 250,000 34,777 34,777 250,000 82,583 82,583 268,817
25 64 2,533 126,912 5,822 5,822 250,000 37,547 37,547 250,000 132,102 132,102 349,375
30 69 2,533 176,669 -15,284 0 250,000 28,326 28,326 250,000 204,898 204,898 464,289
</TABLE>
IT IS EMPHASIZED THAT THE HYPOTHETICAL RESULTS SHOWN ABOVE AND ELSEWHERE IN THIS
PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF
PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL RESULTS MAY BE HIGHER OR
LOWER THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE
ALLOCATIONS MADE BY A POLICYOWNER, THE FREQUENCY OF THE PREMIUM PAYMENTS
CHOSEN BY A POLICYOWNER, THE INVESTMENT EXPERIENCE OF THE POLICY'S VARIABLE
INVESTMENT OPTIONS, AND THE RATE OF INTEREST PAID ON AMOUNTS HELD IN THE
FIXED-RATE OPTION. THE DEATH BENEFIT, POLICY ACCOUNT VALUE AND NET CASH
SURRENDER VALUE FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL
GROSS ANNUAL RATES OF RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT
VARIED ABOVE AND BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE
DIFFERENT IF ANY POLICY LOANS OR OTHER POLICY TRANSACTIONS WERE EFFECTED DURING
THE PERIOD. NO REPRESENTATIONS CAN BE MADE BY GIAC OR THE MUTUAL FUNDS THAT THE
ILLUSTRATED HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR
SUSTAINED OVER ANY PERIOD OF TIME.
THE RECALCULATED BASIC SCHEDULED PREMIUM (ROUNDED TO THE NEAREST DOLLAR) AT
ATTAINED AGE 70 WOULD BE $17,888, ASSUMING THE 0% RETURN; $15,350, ASSUMING THE
6% RETURN; AND $2,533, ASSUMING THE 12% RETURN.
<PAGE>
Male Issue Age 40, Preferred Underwriting Risk
$250,000 Face Amount
Death Benefit Option 1
These values reflect CURRENT cost of insurance and other charges
<TABLE>
<CAPTION>
Assuming Current Assuming Current Assuming Current
Charges and 0% Gross Return Charges and 6% Gross Return Charges and 12% Gross Return
Premiums --------------------------- --------------------------- ----------------------------
Accumulated Net Net Net
End of Age at 5% Policy Cash Net Policy Cash Net Policy Cash Net
Policy Beginning Net Interest Account Surrender Death Account Surrender Death Account Surrender Death
Year of Year Outlay Per Year Value Value Benefit Value Value Benefit Value Value Benefit
- ---- ------- ------ -------- ----- ----- ------- ----- ----- ------- ----- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40 3,045 3,197 2,040 0 250,000 2,185 0 250,000 2,329 0 250,000
2 41 3,045 6,554 4,018 0 250,000 4,434 0 250,000 4,868 373 250,000
3 42 3,045 10,079 5,934 1,849 250,000 6,752 2,667 250,000 7,640 3,555 250,000
4 43 3,045 13,781 7,861 4,184 250,000 9,216 5,539 250,000 10,747 7,070 250,000
5 44 3,045 17,667 9,672 6,404 250,000 11,702 8,435 250,000 14,091 10,823 250,000
6 45 3,045 21,747 11,388 8,528 250,000 14,233 11,373 250,000 17,719 14,859 250,000
7 46 3,045 26,032 13,029 10,576 250,000 16,831 14,378 250,000 21,684 19,231 250,000
8 47 3,045 30,531 14,596 12,553 250,000 19,499 17,456 250,000 26,023 23,981 250,000
9 48 3,045 35,255 16,091 14,456 250,000 22,242 20,607 250,000 30,780 29,145 250,000
10 49 3,045 40,215 17,521 16,296 250,000 25,072 23,847 250,000 36,009 34,784 250,000
15 54 3,045 68,992 23,316 23,316 250,000 40,309 40,309 250,000 71,000 71,000 250,000
20 59 3,045 105,720 25,576 25,576 250,000 56,566 56,566 250,000 127,558 127,558 250,000
25 64 3,045 152,595 23,345 23,345 250,000 73,562 73,562 250,000 218,094 218,094 371,192
30 69 3,045 212,422 15,100 15,100 250,000 91,153 91,153 250,000 359,044 359,044 543,421
</TABLE>
IT IS EMPHASIZED THAT THE HYPOTHETICAL RESULTS SHOWN ABOVE AND ELSEWHERE IN THIS
PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF
PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL RESULTS MAY BE HIGHER OR
LOWER THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE
ALLOCATIONS MADE BY A POLICYOWNER, THE FREQUENCY OF THE PREMIUM PAYMENTS CHOSEN
BY A POLICYOWNER, THE INVESTMENT EXPERIENCE OF THE POLICY'S VARIABLE INVESTMENT
OPTIONS, AND THE RATE OF INTEREST PAID ON AMOUNTS HELD IN THE FIXED-RATE OPTION.
THE DEATH BENEFIT, POLICY ACCOUNT VALUE AND NET CASH SURRENDER VALUE FOR A
POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF
RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE AND
BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY
LOANS OR OTHER POLICY TRANSACTIONS WERE EFFECTED DURING THE PERIOD. NO
REPRESENTATIONS CAN BE MADE BY GIAC OR THE MUTUAL FUNDS THAT THE ILLUSTRATED
HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER
ANY PERIOD OF TIME.
THE RECALCULATED BASIC SCHEDULED PREMIUM (ROUNDED TO THE NEAREST DOLLAR) AT
ATTAINED AGE 70 WOULD BE $13,675, ASSUMING THE 0% RETURN; $7,264, ASSUMING THE
6% RETURN; AND $3,045, ASSUMING THE 12% RETURN.
<PAGE>
Male Issue Age 40, Preferred Underwriting Risk
$250,000 Face Amount
Death Benefit Option 1
These values reflect GUARANTEED cost of insurance and other charges
<TABLE>
<CAPTION>
Assuming Guaranteed Assuming Guaranteed Assuming Guaranteed
Charges and 0% Gross Return Charges and 6% Gross Return Charges and 12% Gross Return
Premiums --------------------------- --------------------------- ----------------------------
Accumulated Net Net Net
End of Age at 5% Policy Cash Net Policy Cash Net Policy Cash Net
Policy Beginning Net Interest Account Surrender Death Account Surrender Death Account Surrender Death
Year of Year Outlay Per Year Value Value Benefit Value Value Benefit Value Value Benefit
- ---- ------- ------ -------- ----- ----- ------- ----- ----- ------- ----- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40 3,045 3,197 2,033 0 250,000 2,177 0 250,000 2,321 0 250,000
2 41 3,045 6,554 3,898 0 250,000 4,309 0 250,000 4,738 243 250,000
3 42 3,045 10,079 5,692 1,607 250,000 6,492 2,407 250,000 7,361 3,276 250,000
4 43 3,045 13,781 7,483 3,806 250,000 8,797 5,120 250,000 10,284 6,607 250,000
5 44 3,045 17,667 9,197 5,930 250,000 11,155 7,887 250,000 13,460 10,193 250,000
6 45 3,045 21,747 10,828 7,968 250,000 13,558 10,698 250,000 16,908 14,048 250,000
7 46 3,045 26,032 12,373 9,921 250,000 16,009 13,557 250,000 20,657 18,204 250,000
8 47 3,045 30,531 13,831 11,789 250,000 18,505 16,463 250,000 24,733 22,690 250,000
9 48 3,045 35,255 15,197 13,562 250,000 21,044 19,409 250,000 29,169 27,534 250,000
10 49 3,045 40,215 16,465 15,240 250,000 23,621 22,396 250,000 33,997 32,772 250,000
15 54 3,045 68,992 21,500 21,500 250,000 37,353 37,353 250,000 66,033 66,033 250,000
20 59 3,045 105,720 22,564 22,564 250,000 51,008 51,008 250,000 116,414 116,414 250,000
25 64 3,045 152,595 16,770 16,770 250,000 62,075 62,075 250,000 195,336 195,336 332,459
30 69 3,045 212,422 -1,521 0 250,000 65,752 65,752 250,000 311,363 311,363 471,255
</TABLE>
IT IS EMPHASIZED THAT THE HYPOTHETICAL RESULTS SHOWN ABOVE AND ELSEWHERE IN THIS
PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF
PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL RESULTS MAY BE HIGHER OR
LOWER THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE
ALLOCATIONS MADE BY A POLICYOWNER, THE FREQUENCY OF THE PREMIUM PAYMENTS CHOSEN
BY A POLICYOWNER, THE INVESTMENT EXPERIENCE OF THE POLICY'S VARIABLE INVESTMENT
OPTIONS, AND THE RATE OF INTEREST PAID ON AMOUNTS HELD IN THE FIXED-RATE OPTION.
THE DEATH BENEFIT, POLICY ACCOUNT VALUE AND NET CASH SURRENDER VALUE FOR A
POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF
RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE AND
BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY
LOANS OR OTHER POLICY TRANSACTIONS WERE EFFECTED DURING THE PERIOD. NO
REPRESENTATIONS CAN BE MADE BY GIAC OR THE MUTUAL FUNDS THAT THE ILLUSTRATED
HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER
ANY PERIOD OF TIME.
THE RECALCULATED BASIC SCHEDULED PREMIUM (ROUNDED TO THE NEAREST DOLLAR) AT
ATTAINED AGE 70 WOULD BE $13,675, ASSUMING THE 0% RETURN; $11,061, ASSUMING THE
6% RETURN; AND $3,045, ASSUMING THE 12% RETURN.
<PAGE>
Male Issue Age 40, Preferred Underwriting Risk
$250,000 Face Amount
Death Benefit Option 2
These values reflect CURRENT cost of insurance and other charges
<TABLE>
<CAPTION>
Assuming Current Assuming Current Assuming Current
Charges and 0% Gross Return Charges and 6% Gross Return Charges and 12% Gross Return
Premiums --------------------------- --------------------------- ----------------------------
Accumulated Net Net Net
End of Age at 5% Policy Cash Net Policy Cash Net Policy Cash Net
Policy Beginning Net Interest Account Surrender Death Account Surrender Death Account Surrender Death
Year of Year Outlay Per Year Value Value Benefit Value Value Benefit Value Value Benefit
- ---- ------- ------ -------- ----- ----- ------- ----- ----- ------- ----- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40 3,045 3,197 2,040 0 250,000 2,184 0 250,000 2,329 0 250,000
2 41 3,045 6,554 4,018 0 250,000 4,434 0 250,000 4,868 373 250,000
3 42 3,045 10,079 5,933 1,848 250,000 6,751 2,666 250,000 7,639 3,554 250,000
4 43 3,045 13,781 7,861 4,183 250,000 9,215 5,538 250,000 10,745 7,067 250,000
5 44 3,045 17,667 9,671 6,404 250,000 11,701 8,434 250,000 14,086 10,818 250,000
6 45 3,045 21,747 11,387 8,527 250,000 14,233 11,373 250,000 17,710 14,850 250,317
7 46 3,045 26,032 13,028 10,576 250,000 16,830 14,377 250,000 21,665 19,213 251,395
8 47 3,045 30,531 14,596 12,553 250,000 19,498 17,455 250,000 25,989 23,947 252,737
9 48 3,045 35,255 16,091 14,456 250,000 22,241 20,606 250,000 30,722 29,087 254,380
10 49 3,045 40,215 17,521 16,296 250,000 25,071 23,846 250,000 35,916 34,691 256,356
15 54 3,045 68,992 23,316 23,316 250,000 40,307 40,307 250,000 70,312 70,312 272,887
20 59 3,045 105,720 25,575 25,575 250,000 56,564 56,564 250,000 124,143 124,143 306,253
25 64 3,045 152,595 23,345 23,345 250,000 73,559 73,559 250,000 209,676 209,676 368,209
30 69 3,045 212,422 15,099 15,099 250,000 91,150 91,150 250,000 345,777 345,777 523,342
</TABLE>
IT IS EMPHASIZED THAT THE HYPOTHETICAL RESULTS SHOWN ABOVE AND ELSEWHERE IN THIS
PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF
PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL RESULTS MAY BE HIGHER OR
LOWER THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE
ALLOCATIONS MADE BY A POLICYOWNER, THE FREQUENCY OF THE PREMIUM PAYMENTS CHOSEN
BY A POLICYOWNER, THE INVESTMENT EXPERIENCE OF THE POLICY'S VARIABLE INVESTMENT
OPTIONS, AND THE RATE OF INTEREST PAID ON AMOUNTS HELD IN THE FIXED-RATE OPTION.
THE DEATH BENEFIT, POLICY ACCOUNT VALUE AND NET CASH SURRENDER VALUE FOR A
POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF
RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE AND
BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY
LOANS OR OTHER POLICY TRANSACTIONS WERE EFFECTED DURING THE PERIOD. NO
REPRESENTATIONS CAN BE MADE BY GIAC OR THE MUTUAL FUNDS THAT THE ILLUSTRATED
HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER
ANY PERIOD OF TIME.
THE RECALCULATED BASIC SCHEDULED PREMIUM (ROUNDED TO THE NEAREST DOLLAR) AT
ATTAINED AGE 70 WOULD BE $13,675, ASSUMING THE 0% RETURN; $7,264, ASSUMING THE
6% RETURN; AND $3,045, ASSUMING THE 12% RETURN.
<PAGE>
Male Issue Age 40, Preferred Underwriting Risk
$250,000 Face Amount
Death Benefit Option 2
These values reflect GUARANTEED cost of insurance and other charges
<TABLE>
<CAPTION>
Assuming Guaranteed Assuming Guaranteed Assuming Guaranteed
Charges and 0% Gross Return Charges and 6% Gross Return Charges and 12% Gross Return
Premiums --------------------------- --------------------------- ----------------------------
Accumulated Net Net Net
End of Age at 5% Policy Cash Net Policy Cash Net Policy Cash Net
Policy Beginning Net Interest Account Surrender Death Account Surrender Death Account Surrender Death
Year of Year Outlay Per Year Value Value Benefit Value Value Benefit Value Value Benefit
- ---- ------- ------ -------- ----- ----- ------- ----- ----- ------- ----- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40 3,045 3,197 2,033 0 250,000 2,177 0 250,000 2,321 0 250,000
2 41 3,045 6,554 3,898 0 250,000 4,309 0 250,000 4,737 242 250,000
3 42 3,045 10,079 5,692 1,607 250,000 6,492 2,407 250,000 7,360 3,275 250,000
4 43 3,045 13,781 7,483 3,806 250,000 8,797 5,119 250,000 10,282 6,605 250,000
5 44 3,045 17,667 9,197 5,929 250,000 11,154 7,887 250,000 13,457 10,189 250,000
6 45 3,045 21,747 10,827 7,967 250,000 13,558 10,698 250,000 16,902 14,042 250,000
7 46 3,045 26,032 12,373 9,921 250,000 16,009 13,556 250,000 20,644 18,192 250,374
8 47 3,045 30,531 13,831 11,788 250,000 18,504 16,462 250,000 24,710 22,667 251,457
9 48 3,045 35,255 15,197 13,562 250,000 21,043 19,408 250,000 29,127 27,492 252,785
10 49 3,045 40,215 16,464 15,239 250,000 23,620 22,395 250,000 33,927 32,702 254,367
15 54 3,045 68,992 21,499 21,499 250,000 37,351 37,351 250,000 65,468 65,468 268,043
20 59 3,045 105,720 22,564 22,564 250,000 51,007 51,007 250,000 113,486 113,486 295,596
25 64 3,045 152,595 16,770 16,770 250,000 62,073 62,073 250,000 186,262 186,262 344,794
30 69 3,045 212,422 -1,521 0 250,000 65,750 65,750 250,000 296,565 296,565 448,858
</TABLE>
IT IS EMPHASIZED THAT THE HYPOTHETICAL RESULTS SHOWN ABOVE AND ELSEWHERE IN THIS
PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF
PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL RESULTS MAY BE HIGHER OR
LOWER THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE
ALLOCATIONS MADE BY A POLICYOWNER, THE FREQUENCY OF THE PREMIUM PAYMENTS CHOSEN
BY A POLICYOWNER, THE INVESTMENT EXPERIENCE OF THE POLICY'S VARIABLE INVESTMENT
OPTIONS, AND THE RATE OF INTEREST PAID ON AMOUNTS HELD IN THE FIXED-RATE OPTION.
THE DEATH BENEFIT, POLICY ACCOUNT VALUE AND NET CASH SURRENDER VALUE FOR A
POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF
RETURN AVERAGED 0%, 6% AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE AND
BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY
LOANS OR OTHER POLICY TRANSACTIONS WERE EFFECTED DURING THE PERIOD. NO
REPRESENTATIONS CAN BE MADE BY GIAC OR THE MUTUAL FUNDS THAT THE ILLUSTRATED
HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER
ANY PERIOD OF TIME.
THE RECALCULATED BASIC SCHEDULED PREMIUM (ROUNDED TO THE NEAREST DOLLAR) AT
ATTAINED AGE 70 WOULD BE $13,675, ASSUMING THE 0% RETURN; $11,062, ASSUMING THE
6% RETURN; AND $3,045, ASSUMING THE 12% RETURN.
<PAGE>
APPENDIX B
VARIABLE WHOLE LIFE INSURANCE WITH MODIFIED SCHEDULED PREMIUMS
FIRST YEAR SURRENDER CHARGE RATES PER $1,000
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
MALE - PREFERRED PLUS
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20 8.09 7.42 6.74 6.07 5.39 4.72 4.05 3.37 2.70 2.02 1.35 0.67
21 8.26 7.57 6.88 6.20 5.51 4.82 4.13 3.44 2.75 2.07 1.38 0.69
22 8.43 7.73 7.03 6.32 5.62 4.92 4.22 3.51 2.81 2.11 1.41 0.70
23 8.62 7.90 7.18 6.47 5.75 5.03 4.31 3.59 2.87 2.16 1.44 0.72
24 8.80 8.07 7.33 6.60 5.87 5.13 4.40 3.67 2.93 2.20 1.47 0.73
25 9.02 8.27 7.52 6.77 6.01 5.26 4.51 3.76 3.01 2.26 1.50 0.75
26 9.33 8.55 7.78 7.00 6.22 5.44 4.67 3.89 3.11 2.33 1.56 0.78
27 9.65 8.85 8.04 7.24 6.43 5.63 4.83 4.02 3.22 2.41 1.61 0.80
28 10.05 9.21 8.38 7.54 6.70 5.86 5.03 4.19 3.35 2.51 1.68 0.84
29 10.42 9.55 8.68 7.82 6.95 6.08 5.21 4.34 3.47 2.61 1.74 0.87
30 10.86 9.96 9.05 8.15 7.24 6.34 5.43 4.53 3.62 2.72 1.81 0.91
31 11.27 10.33 9.39 8.45 7.51 6.57 5.64 4.70 3.76 2.82 1.88 0.94
32 11.77 10.79 9.81 8.83 7.85 6.87 5.89 4.90 3.92 2.94 1.96 0.98
33 12.25 11.23 10.21 9.19 8.17 7.15 6.13 5.10 4.08 3.06 2.04 1.02
34 12.88 11.81 10.73 9.66 8.59 7.51 6.44 5.37 4.29 3.22 2.15 1.07
35 13.59 12.46 11.33 10.19 9.06 7.93 6.80 5.66 4.53 3.40 2.27 1.13
36 14.20 13.02 11.83 10.65 9.47 8.28 7.10 5.92 4.73 3.55 2.37 1.18
37 14.85 13.61 12.38 11.14 9.90 8.66 7.43 6.19 4.95 3.71 2.48 1.24
38 15.52 14.23 12.93 11.64 10.35 9.05 7.76 6.47 5.17 3.88 2.59 1.29
39 16.22 14.87 13.52 12.17 10.81 9.46 8.11 6.76 5.41 4.06 2.70 1.35
40 16.96 15.55 14.13 12.72 11.31 9.89 8.48 7.07 5.65 4.24 2.83 1.41
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
MALE - PREFERRED PLUS
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
41 17.74 16.26 14.78 13.31 11.83 10.35 8.87 7.39 5.91 4.44 2.96 1.48
42 18.58 17.03 15.48 13.94 12.39 10.84 9.29 7.74 6.19 4.65 3.10 1.55
43 19.45 17.83 16.21 14.59 12.97 11.35 9.73 8.10 6.48 4.86 3.24 1.62
44 20.39 18.69 16.99 15.29 13.59 11.89 10.20 8.50 6.80 5.10 3.40 1.70
45 21.39 19.61 17.83 16.04 14.26 12.48 10.70 8.91 7.13 5.35 3.57 1.78
46 22.57 20.69 18.81 16.93 15.05 13.17 11.29 9.40 7.52 5.64 3.76 1.88
47 23.61 21.64 19.68 17.71 15.74 13.77 11.81 9.84 7.87 5.90 3.94 1.97
48 24.95 22.87 20.79 18.71 16.63 14.55 12.48 10.40 8.32 6.24 4.16 2.08
49 25.70 23.56 21.42 19.28 17.13 14.99 12.85 10.71 8.57 6.43 4.28 2.14
50 26.47 24.26 22.06 19.85 17.65 15.44 13.24 11.03 8.82 6.62 4.41 2.21
51 27.30 25.03 22.75 20.48 18.20 15.93 13.65 11.38 9.10 6.83 4.55 2.28
52 28.19 25.84 23.49 21.14 18.79 16.44 14.10 11.75 9.40 7.05 4.70 2.35
53 29.12 26.69 24.27 21.84 19.41 16.99 14.56 12.13 9.71 7.28 4.85 2.43
54 30.13 27.62 25.11 22.60 20.09 17.58 15.07 12.55 10.04 7.53 5.02 2.51
55 31.22 28.62 26.02 23.42 20.81 18.21 15.61 13.01 10.41 7.81 5.20 2.60
56 32.36 29.66 26.97 24.27 21.57 18.88 16.18 13.48 10.79 8.09 5.39 2.70
57 33.57 30.77 27.98 25.18 22.38 19.58 16.79 13.99 11.19 8.39 5.60 2.80
58 34.87 31.96 29.06 26.15 23.25 20.34 17.44 14.53 11.62 8.72 5.81 2.91
59 37.44 34.32 31.20 28.08 24.96 21.84 18.72 15.60 12.48 9.36 6.24 3.12
60 38.98 35.73 32.48 29.24 25.99 22.74 19.49 16.24 12.99 9.75 6.50 3.25
61 40.62 37.24 33.85 30.47 27.08 23.70 20.31 16.93 13.54 10.16 6.77 3.39
62 42.40 38.87 35.33 31.80 28.27 24.73 21.20 17.67 14.13 10.60 7.07 3.53
63 44.17 40.15 36.14 32.12 28.11 24.09 20.08 16.06 12.05 8.03 4.02 0.00
64 46.03 41.43 36.82 32.22 27.62 23.02 18.41 13.81 9.21 4.60 0.00 0.00
65 49.81 44.87 39.88 34.90 29.91 24.93 19.94 14.96 9.97 4.99 0.00 0.00
66 49.81 45.66 41.51 37.36 32.42 27.02 21.61 16.21 10.81 5.40 0.00 0.00
67 49.81 45.66 41.51 37.36 33.21 29.06 23.46 17.60 11.73 5.87 0.00 0.00
68 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
69 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
70 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
71 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
72 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
73 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
74 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
75 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
76 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
77 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
78 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
79 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
80 49.43 45.31 41.19 37.07 32.95 28.83 24.72 20.60 16.48 12.36 8.24 4.12
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
MALE - PREFERRED
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0 6.46 5.92 5.38 4.85 4.31 3.77 3.23 2.69 2.15 1.62 1.08 0.54
1 6.30 5.78 5.25 4.73 4.20 3.68 3.15 2.63 2.10 1.58 1.05 0.53
2 6.39 5.86 5.33 4.79 4.26 3.73 3.20 2.66 2.13 1.60 1.07 0.53
3 6.49 5.95 5.41 4.87 4.33 3.79 3.25 2.70 2.16 1.62 1.08 0.54
4 6.60 6.05 5.50 4.95 4.40 3.85 3.30 2.75 2.20 1.65 1.10 0.55
5 6.70 6.14 5.58 5.03 4.47 3.91 3.35 2.79 2.23 1.68 1.12 0.56
6 6.83 6.26 5.69 5.12 4.55 3.98 3.42 2.85 2.28 1.71 1.14 0.57
7 6.95 6.37 5.79 5.21 4.63 4.05 3.48 2.90 2.32 1.74 1.16 0.58
8 7.11 6.52 5.93 5.33 4.74 4.15 3.56 2.96 2.37 1.78 1.19 0.59
9 7.25 6.65 6.04 5.44 4.83 4.23 3.63 3.02 2.42 1.81 1.21 0.60
10 7.42 6.80 6.18 5.57 4.95 4.33 3.71 3.09 2.47 1.86 1.24 0.62
11 7.58 6.95 6.32 5.69 5.05 4.42 3.79 3.16 2.53 1.90 1.26 0.63
12 7.75 7.10 6.46 5.81 5.17 4.52 3.88 3.23 2.58 1.94 1.29 0.65
13 7.95 7.29 6.63 5.96 5.30 4.64 3.98 3.31 2.65 1.99 1.33 0.66
14 8.12 7.44 6.77 6.09 5.41 4.74 4.06 3.38 2.71 2.03 1.35 0.68
15 8.30 7.61 6.92 6.23 5.53 4.84 4.15 3.46 2.77 2.08 1.38 0.69
16 8.45 7.75 7.04 6.34 5.63 4.93 4.23 3.52 2.82 2.11 1.41 0.70
17 8.63 7.91 7.19 6.47 5.75 5.03 4.32 3.60 2.88 2.16 1.44 0.72
18 8.79 8.06 7.33 6.59 5.86 5.13 4.40 3.66 2.93 2.20 1.47 0.73
19 8.96 8.21 7.47 6.72 5.97 5.23 4.48 3.73 2.99 2.24 1.49 0.75
20 7.94 7.28 6.62 5.96 5.29 4.63 3.97 3.31 2.65 1.99 1.32 0.66
21 8.10 7.43 6.75 6.08 5.40 4.73 4.05 3.38 2.70 2.03 1.35 0.68
22 8.28 7.59 6.90 6.21 5.52 4.83 4.14 3.45 2.76 2.07 1.38 0.69
23 8.50 7.79 7.08 6.38 5.67 4.96 4.25 3.54 2.83 2.13 1.42 0.71
24 8.82 8.09 7.35 6.62 5.88 5.15 4.41 3.68 2.94 2.21 1.47 0.74
25 9.17 8.41 7.64 6.88 6.11 5.35 4.59 3.82 3.06 2.29 1.53 0.76
26 9.63 8.83 8.03 7.22 6.42 5.62 4.82 4.01 3.21 2.41 1.61 0.80
27 10.13 9.29 8.44 7.60 6.75 5.91 5.07 4.22 3.38 2.53 1.69 0.84
28 10.69 9.80 8.91 8.02 7.13 6.24 5.35 4.45 3.56 2.67 1.78 0.89
29 11.25 10.31 9.38 8.44 7.50 6.56 5.63 4.69 3.75 2.81 1.88 0.94
30 11.90 10.91 9.92 8.93 7.93 6.94 5.95 4.96 3.97 2.98 1.98 0.99
31 12.53 11.49 10.44 9.40 8.35 7.31 6.27 5.22 4.18 3.13 2.09 1.04
32 13.25 12.15 11.04 9.94 8.83 7.73 6.63 5.52 4.42 3.31 2.21 1.10
33 13.97 12.81 11.64 10.48 9.31 8.15 6.99 5.82 4.66 3.49 2.33 1.16
34 14.73 13.50 12.28 11.05 9.82 8.59 7.37 6.14 4.91 3.68 2.46 1.23
35 15.58 14.28 12.98 11.69 10.39 9.09 7.79 6.49 5.19 3.90 2.60 1.30
36 16.31 14.95 13.59 12.23 10.87 9.51 8.16 6.80 5.44 4.08 2.72 1.36
37 17.07 15.65 14.23 12.80 11.38 9.96 8.54 7.11 5.69 4.27 2.85 1.42
38 17.87 16.38 14.89 13.40 11.91 10.42 8.94 7.45 5.96 4.47 2.98 1.49
39 18.71 17.15 15.59 14.03 12.47 10.91 9.36 7.80 6.24 4.68 3.12 1.56
40 19.61 17.98 16.34 14.71 13.07 11.44 9.81 8.17 6.54 4.90 3.27 1.63
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
MALE - PREFERRED
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
41 20.54 18.83 17.12 15.41 13.69 11.98 10.27 8.56 6.85 5.14 3.42 1.71
42 21.54 19.75 17.95 16.16 14.36 12.57 10.77 8.98 7.18 5.39 3.59 1.80
43 22.60 20.72 18.83 16.95 15.07 13.18 11.30 9.42 7.53 5.65 3.77 1.88
44 23.72 21.74 19.77 17.79 15.81 13.84 11.86 9.88 7.91 5.93 3.95 1.98
45 24.89 22.82 20.74 18.67 16.59 14.52 12.45 10.37 8.30 6.22 4.15 2.07
46 26.09 23.92 21.74 19.57 17.39 15.22 13.05 10.87 8.70 6.52 4.35 2.17
47 26.88 24.64 22.40 20.16 17.92 15.68 13.44 11.20 8.96 6.72 4.48 2.24
48 27.73 25.42 23.11 20.80 18.49 16.18 13.87 11.55 9.24 6.93 4.62 2.31
49 28.62 26.24 23.85 21.47 19.08 16.70 14.31 11.93 9.54 7.16 4.77 2.39
50 29.57 27.11 24.64 22.18 19.71 17.25 14.79 12.32 9.86 7.39 4.93 2.46
51 30.57 28.02 25.48 22.93 20.38 17.83 15.29 12.74 10.19 7.64 5.10 2.55
52 31.64 29.00 26.37 23.73 21.09 18.46 15.82 13.18 10.55 7.91 5.27 2.64
53 32.78 30.05 27.32 24.59 21.85 19.12 16.39 13.66 10.93 8.20 5.46 2.73
54 34.00 31.17 28.33 25.50 22.67 19.83 17.00 14.17 11.33 8.50 5.67 2.83
55 35.29 32.35 29.41 26.47 23.53 20.59 17.65 14.70 11.76 8.82 5.88 2.94
56 36.67 33.61 30.56 27.50 24.45 21.39 18.34 15.28 12.22 9.17 6.11 3.06
57 38.14 34.96 31.78 28.61 25.43 22.25 19.07 15.89 12.71 9.54 6.36 3.18
58 39.70 36.39 33.08 29.78 26.47 23.16 19.85 16.54 13.23 9.93 6.62 3.31
59 41.37 37.92 34.48 31.03 27.58 24.13 20.69 17.24 13.79 10.34 6.90 3.45
60 43.16 39.56 35.97 32.37 28.77 25.18 21.58 17.98 14.39 10.79 7.19 3.60
61 45.08 41.32 37.57 33.81 30.05 26.30 22.54 18.78 15.03 11.27 7.51 3.76
62 47.12 43.19 39.27 35.34 31.41 27.49 23.56 19.63 15.71 11.78 7.85 3.93
63 49.32 45.21 41.10 36.99 32.88 28.77 24.66 20.55 16.44 12.33 8.22 4.11
64 49.47 45.35 41.23 37.10 32.98 28.86 24.74 20.61 16.49 12.37 8.25 4.12
65 49.55 45.42 41.29 37.16 33.03 28.90 24.78 20.65 16.52 12.39 8.26 4.13
66 49.66 45.52 41.38 37.25 33.11 28.97 24.83 20.69 16.55 12.42 8.28 4.14
67 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
68 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
69 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
70 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
71 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
72 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
73 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
74 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
75 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
76 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
77 49.49 45.37 41.24 37.12 32.99 28.87 24.75 20.62 16.50 12.37 8.25 4.12
78 49.19 45.09 40.99 36.89 32.79 28.69 24.60 20.50 16.40 12.30 8.20 4.10
79 48.89 44.82 40.74 36.67 32.59 28.52 24.45 20.37 16.30 12.22 8.15 4.07
80 48.18 44.17 40.15 36.14 32.12 28.11 24.09 20.08 16.06 12.05 8.03 4.02
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
MALE - STANDARD
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20 10.17 9.32 8.48 7.63 6.78 5.93 5.09 4.24 3.39 2.54 1.70 0.85
21 10.43 9.56 8.69 7.82 6.95 6.08 5.22 4.35 3.48 2.61 1.74 0.87
22 10.69 9.80 8.91 8.02 7.13 6.24 5.35 4.45 3.56 2.67 1.78 0.89
23 10.99 10.07 9.16 8.24 7.33 6.41 5.50 4.58 3.66 2.75 1.83 0.92
24 11.31 10.37 9.43 8.48 7.54 6.60 5.66 4.71 3.77 2.83 1.89 0.94
25 11.64 10.67 9.70 8.73 7.76 6.79 5.82 4.85 3.88 2.91 1.94 0.97
26 12.20 11.18 10.17 9.15 8.13 7.12 6.10 5.08 4.07 3.05 2.03 1.02
27 12.80 11.73 10.67 9.60 8.53 7.47 6.40 5.33 4.27 3.20 2.13 1.07
28 13.48 12.36 11.23 10.11 8.99 7.86 6.74 5.62 4.49 3.37 2.25 1.12
29 14.27 13.08 11.89 10.70 9.51 8.32 7.14 5.95 4.76 3.57 2.38 1.19
30 15.17 13.91 12.64 11.38 10.11 8.85 7.59 6.32 5.06 3.79 2.53 1.26
31 16.09 14.75 13.41 12.07 10.73 9.39 8.05 6.70 5.36 4.02 2.68 1.34
32 17.12 15.69 14.27 12.84 11.41 9.99 8.56 7.13 5.71 4.28 2.85 1.43
33 18.16 16.65 15.13 13.62 12.11 10.59 9.08 7.57 6.05 4.54 3.03 1.51
34 19.29 17.68 16.08 14.47 12.86 11.25 9.65 8.04 6.43 4.82 3.22 1.61
35 20.55 18.84 17.13 15.41 13.70 11.99 10.28 8.56 6.85 5.14 3.43 1.71
36 21.51 19.72 17.93 16.13 14.34 12.55 10.76 8.96 7.17 5.38 3.59 1.79
37 22.56 20.68 18.80 16.92 15.04 13.16 11.28 9.40 7.52 5.64 3.76 1.88
38 23.67 21.70 19.73 17.75 15.78 13.81 11.84 9.86 7.89 5.92 3.95 1.97
39 24.85 22.78 20.71 18.64 16.57 14.50 12.43 10.35 8.28 6.21 4.14 2.07
40 25.95 23.79 21.63 19.46 17.30 15.14 12.98 10.81 8.65 6.49 4.33 2.16
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
MALE - STANDARD
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
41 26.71 24.48 22.26 20.03 17.81 15.58 13.36 11.13 8.90 6.68 4.45 2.23
42 27.52 25.23 22.93 20.64 18.35 16.05 13.76 11.47 9.17 6.88 4.59 2.29
43 28.36 26.00 23.63 21.27 18.91 16.54 14.18 11.82 9.45 7.09 4.73 2.36
44 29.25 26.81 24.38 21.94 19.50 17.06 14.63 12.19 9.75 7.31 4.88 2.44
45 30.19 27.67 25.16 22.64 20.13 17.61 15.10 12.58 10.06 7.55 5.03 2.52
46 31.18 28.58 25.98 23.39 20.79 18.19 15.59 12.99 10.39 7.80 5.20 2.60
47 32.23 29.54 26.86 24.17 21.49 18.80 16.12 13.43 10.74 8.06 5.37 2.69
48 33.34 30.56 27.78 25.01 22.23 19.45 16.67 13.89 11.11 8.34 5.56 2.78
49 34.51 31.63 28.76 25.88 23.01 20.13 17.26 14.38 11.50 8.63 5.75 2.88
50 35.75 32.77 29.79 26.81 23.83 20.85 17.88 14.90 11.92 8.94 5.96 2.98
51 37.07 33.98 30.89 27.80 24.71 21.62 18.54 15.45 12.36 9.27 6.18 3.09
52 38.47 35.26 32.06 28.85 25.65 22.44 19.24 16.03 12.82 9.62 6.41 3.21
53 39.94 36.61 33.28 29.96 26.63 23.30 19.97 16.64 13.31 9.99 6.66 3.33
54 41.50 38.04 34.58 31.13 27.67 24.21 20.75 17.29 13.83 10.38 6.92 3.46
55 43.15 39.55 35.96 32.36 28.77 25.17 21.58 17.98 14.38 10.79 7.19 3.60
56 44.90 41.16 37.42 33.68 29.93 26.19 22.45 18.71 14.97 11.23 7.48 3.74
57 46.74 42.85 38.95 35.06 31.16 27.27 23.37 19.48 15.58 11.69 7.79 3.90
58 48.70 44.64 40.58 36.53 32.47 28.41 24.35 20.29 16.23 12.18 8.12 4.06
59 49.28 45.17 41.07 36.96 32.85 28.75 24.64 20.53 16.43 12.32 8.21 4.11
60 49.26 45.16 41.05 36.95 32.84 28.74 24.63 20.53 16.42 12.32 8.21 4.11
61 49.32 45.21 41.10 36.99 32.88 28.77 24.66 20.55 16.44 12.33 8.22 4.11
62 49.40 45.28 41.17 37.05 32.93 28.82 24.70 20.58 16.47 12.35 8.23 4.12
63 49.50 45.38 41.25 37.13 33.00 28.88 24.75 20.63 16.50 12.38 8.25 4.13
64 49.63 45.49 41.36 37.22 33.09 28.95 24.82 20.68 16.54 12.41 8.27 4.14
65 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
66 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
67 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
68 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
69 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
70 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
71 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
72 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
73 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
74 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
75 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
76 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
77 49.44 45.32 41.20 37.08 32.96 28.84 24.72 20.60 16.48 12.36 8.24 4.12
78 49.09 45.00 40.91 36.82 32.73 28.64 24.55 20.45 16.36 12.27 8.18 4.09
79 48.27 44.25 40.23 36.20 32.18 28.16 24.14 20.11 16.09 12.07 8.05 4.02
80 47.78 43.80 39.82 35.84 31.85 27.87 23.89 19.91 15.93 11.95 7.96 3.98
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
UNISEX - PREFERRED PLUS
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20 7.92 7.26 6.60 5.94 5.28 4.62 3.96 3.30 2.64 1.98 1.32 0.66
21 8.07 7.40 6.73 6.05 5.38 4.71 4.04 3.36 2.69 2.02 1.35 0.67
22 8.25 7.56 6.88 6.19 5.50 4.81 4.13 3.44 2.75 2.06 1.38 0.69
23 8.42 7.72 7.02 6.32 5.61 4.91 4.21 3.51 2.81 2.11 1.40 0.70
24 8.62 7.90 7.18 6.47 5.75 5.03 4.31 3.59 2.87 2.16 1.44 0.72
25 8.83 8.09 7.36 6.62 5.89 5.15 4.42 3.68 2.94 2.21 1.47 0.74
26 9.12 8.36 7.60 6.84 6.08 5.32 4.56 3.80 3.04 2.28 1.52 0.76
27 9.44 8.65 7.87 7.08 6.29 5.51 4.72 3.93 3.15 2.36 1.57 0.79
28 9.82 9.00 8.18 7.37 6.55 5.73 4.91 4.09 3.27 2.46 1.64 0.82
29 10.18 9.33 8.48 7.64 6.79 5.94 5.09 4.24 3.39 2.55 1.70 0.85
30 10.62 9.74 8.85 7.97 7.08 6.20 5.31 4.43 3.54 2.66 1.77 0.89
31 11.02 10.10 9.18 8.27 7.35 6.43 5.51 4.59 3.67 2.76 1.84 0.92
32 11.55 10.59 9.63 8.66 7.70 6.74 5.78 4.81 3.85 2.89 1.93 0.96
33 12.14 11.13 10.12 9.11 8.09 7.08 6.07 5.06 4.05 3.04 2.02 1.01
34 12.76 11.70 10.63 9.57 8.51 7.44 6.38 5.32 4.25 3.19 2.13 1.06
35 13.47 12.35 11.23 10.10 8.98 7.86 6.74 5.61 4.49 3.37 2.25 1.12
36 14.07 12.90 11.73 10.55 9.38 8.21 7.04 5.86 4.69 3.52 2.35 1.17
37 14.70 13.48 12.25 11.03 9.80 8.58 7.35 6.13 4.90 3.68 2.45 1.23
38 15.36 14.08 12.80 11.52 10.24 8.96 7.68 6.40 5.12 3.84 2.56 1.28
39 16.06 14.72 13.38 12.05 10.71 9.37 8.03 6.69 5.35 4.02 2.68 1.34
40 16.79 15.39 13.99 12.59 11.19 9.79 8.40 7.00 5.60 4.20 2.80 1.40
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
UNISEX - PREFERRED PLUS
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
41 17.57 16.11 14.64 13.18 11.71 10.25 8.79 7.32 5.86 4.39 2.93 1.46
42 18.39 16.86 15.33 13.79 12.26 10.73 9.20 7.66 6.13 4.60 3.07 1.53
43 19.26 17.66 16.05 14.45 12.84 11.24 9.63 8.03 6.42 4.82 3.21 1.61
44 20.17 18.49 16.81 15.13 13.45 11.77 10.09 8.40 6.72 5.04 3.36 1.68
45 21.16 19.40 17.63 15.87 14.11 12.34 10.58 8.82 7.05 5.29 3.53 1.76
46 22.30 20.44 18.58 16.73 14.87 13.01 11.15 9.29 7.43 5.58 3.72 1.86
47 23.37 21.42 19.48 17.53 15.58 13.63 11.69 9.74 7.79 5.84 3.90 1.95
48 24.01 22.01 20.01 18.01 16.01 14.01 12.01 10.00 8.00 6.00 4.00 2.00
49 25.36 23.25 21.13 19.02 16.91 14.79 12.68 10.57 8.45 6.34 4.23 2.11
50 26.12 23.94 21.77 19.59 17.41 15.24 13.06 10.88 8.71 6.53 4.35 2.18
51 26.91 24.67 22.43 20.18 17.94 15.70 13.46 11.21 8.97 6.73 4.49 2.24
52 27.76 25.45 23.13 20.82 18.51 16.19 13.88 11.57 9.25 6.94 4.63 2.31
53 28.65 26.26 23.88 21.49 19.10 16.71 14.33 11.94 9.55 7.16 4.78 2.39
54 29.59 27.12 24.66 22.19 19.73 17.26 14.80 12.33 9.86 7.40 4.93 2.47
55 30.60 28.05 25.50 22.95 20.40 17.85 15.30 12.75 10.20 7.65 5.10 2.55
56 31.69 29.05 26.41 23.77 21.13 18.49 15.85 13.20 10.56 7.92 5.28 2.64
57 32.84 30.10 27.37 24.63 21.89 19.16 16.42 13.68 10.95 8.21 5.47 2.74
58 34.06 31.22 28.38 25.55 22.71 19.87 17.03 14.19 11.35 8.52 5.68 2.84
59 36.51 33.47 30.43 27.38 24.34 21.30 18.26 15.21 12.17 9.13 6.09 3.04
60 37.97 34.81 31.64 28.48 25.31 22.15 18.99 15.82 12.66 9.49 6.33 3.16
61 39.53 36.24 32.94 29.65 26.35 23.06 19.77 16.47 13.18 9.88 6.59 3.29
62 41.20 37.77 34.33 30.90 27.47 24.03 20.60 17.17 13.73 10.30 6.87 3.43
63 42.99 39.41 35.83 32.24 28.66 25.08 21.50 17.91 14.33 10.75 7.17 3.58
64 44.77 40.70 36.63 32.56 28.49 24.42 20.35 16.28 12.21 8.14 4.07 0.00
65 46.65 41.99 37.32 32.66 27.99 23.33 18.66 14.00 9.33 4.67 0.00 0.00
66 49.81 45.42 40.38 35.33 30.28 25.24 20.19 15.14 10.09 5.05 0.00 0.00
67 49.81 45.66 41.51 37.36 32.82 27.35 21.88 16.41 10.94 5.47 0.00 0.00
68 49.81 45.66 41.51 37.36 33.21 29.06 23.73 17.80 11.86 5.93 0.00 0.00
69 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
70 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
71 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
72 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
73 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
74 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
75 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
76 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
77 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
78 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
79 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
80 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
UNISEX - PREFERRED
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0 6.27 5.75 5.23 4.70 4.18 3.66 3.14 2.61 2.09 1.57 1.05 0.52
1 6.13 5.62 5.11 4.60 4.09 3.58 3.07 2.55 2.04 1.53 1.02 0.51
2 6.20 5.68 5.17 4.65 4.13 3.62 3.10 2.58 2.07 1.55 1.03 0.52
3 6.30 5.78 5.25 4.73 4.20 3.68 3.15 2.63 2.10 1.58 1.05 0.53
4 6.39 5.86 5.33 4.79 4.26 3.73 3.20 2.66 2.13 1.60 1.07 0.53
5 6.49 5.95 5.41 4.87 4.33 3.79 3.25 2.70 2.16 1.62 1.08 0.54
6 6.62 6.07 5.52 4.97 4.41 3.86 3.31 2.76 2.21 1.66 1.10 0.55
7 6.74 6.18 5.62 5.06 4.49 3.93 3.37 2.81 2.25 1.69 1.12 0.56
8 6.88 6.31 5.73 5.16 4.59 4.01 3.44 2.87 2.29 1.72 1.15 0.57
9 7.02 6.44 5.85 5.27 4.68 4.10 3.51 2.93 2.34 1.76 1.17 0.59
10 7.16 6.56 5.97 5.37 4.77 4.18 3.58 2.98 2.39 1.79 1.19 0.60
11 7.33 6.72 6.11 5.50 4.89 4.28 3.67 3.05 2.44 1.83 1.22 0.61
12 7.49 6.87 6.24 5.62 4.99 4.37 3.75 3.12 2.50 1.87 1.25 0.62
13 7.67 7.03 6.39 5.75 5.11 4.47 3.84 3.20 2.56 1.92 1.28 0.64
14 7.82 7.17 6.52 5.87 5.21 4.56 3.91 3.26 2.61 1.96 1.30 0.65
15 8.00 7.33 6.67 6.00 5.33 4.67 4.00 3.33 2.67 2.00 1.33 0.67
16 8.16 7.48 6.80 6.12 5.44 4.76 4.08 3.40 2.72 2.04 1.36 0.68
17 8.31 7.62 6.93 6.23 5.54 4.85 4.16 3.46 2.77 2.08 1.39 0.69
18 8.47 7.76 7.06 6.35 5.65 4.94 4.24 3.53 2.82 2.12 1.41 0.71
19 8.65 7.93 7.21 6.49 5.77 5.05 4.33 3.60 2.88 2.16 1.44 0.72
20 7.77 7.12 6.48 5.83 5.18 4.53 3.89 3.24 2.59 1.94 1.30 0.65
21 7.93 7.27 6.61 5.95 5.29 4.63 3.97 3.30 2.64 1.98 1.32 0.66
22 8.10 7.43 6.75 6.08 5.40 4.73 4.05 3.38 2.70 2.03 1.35 0.68
23 8.38 7.68 6.98 6.29 5.59 4.89 4.19 3.49 2.79 2.10 1.40 0.70
24 8.71 7.98 7.26 6.53 5.81 5.08 4.36 3.63 2.90 2.18 1.45 0.73
25 9.05 8.30 7.54 6.79 6.03 5.28 4.53 3.77 3.02 2.26 1.51 0.75
26 9.51 8.72 7.93 7.13 6.34 5.55 4.76 3.96 3.17 2.38 1.59 0.79
27 10.00 9.17 8.33 7.50 6.67 5.83 5.00 4.17 3.33 2.50 1.67 0.83
28 10.56 9.68 8.80 7.92 7.04 6.16 5.28 4.40 3.52 2.64 1.76 0.88
29 11.11 10.18 9.26 8.33 7.41 6.48 5.56 4.63 3.70 2.78 1.85 0.93
30 11.75 10.77 9.79 8.81 7.83 6.85 5.88 4.90 3.92 2.94 1.96 0.98
31 12.36 11.33 10.30 9.27 8.24 7.21 6.18 5.15 4.12 3.09 2.06 1.03
32 13.07 11.98 10.89 9.80 8.71 7.62 6.54 5.45 4.36 3.27 2.18 1.09
33 13.78 12.63 11.48 10.34 9.19 8.04 6.89 5.74 4.59 3.45 2.30 1.15
34 14.51 13.30 12.09 10.88 9.67 8.46 7.26 6.05 4.84 3.63 2.42 1.21
35 15.37 14.09 12.81 11.53 10.25 8.97 7.69 6.40 5.12 3.84 2.56 1.28
36 16.09 14.75 13.41 12.07 10.73 9.39 8.05 6.70 5.36 4.02 2.68 1.34
37 16.82 15.42 14.02 12.62 11.21 9.81 8.41 7.01 5.61 4.21 2.80 1.40
38 17.60 16.13 14.67 13.20 11.73 10.27 8.80 7.33 5.87 4.40 2.93 1.47
39 18.44 16.90 15.37 13.83 12.29 10.76 9.22 7.68 6.15 4.61 3.07 1.54
40 19.30 17.69 16.08 14.48 12.87 11.26 9.65 8.04 6.43 4.83 3.22 1.61
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
UNISEX - PREFERRED
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
41 20.23 18.54 16.86 15.17 13.49 11.80 10.12 8.43 6.74 5.06 3.37 1.69
42 21.21 19.44 17.68 15.91 14.14 12.37 10.61 8.84 7.07 5.30 3.54 1.77
43 22.24 20.39 18.53 16.68 14.83 12.97 11.12 9.27 7.41 5.56 3.71 1.85
44 23.34 21.40 19.45 17.51 15.56 13.62 11.67 9.73 7.78 5.84 3.89 1.95
45 24.46 22.42 20.38 18.35 16.31 14.27 12.23 10.19 8.15 6.12 4.08 2.04
46 25.56 23.43 21.30 19.17 17.04 14.91 12.78 10.65 8.52 6.39 4.26 2.13
47 26.32 24.13 21.93 19.74 17.55 15.35 13.16 10.97 8.77 6.58 4.39 2.19
48 27.12 24.86 22.60 20.34 18.08 15.82 13.56 11.30 9.04 6.78 4.52 2.26
49 27.97 25.64 23.31 20.98 18.65 16.32 13.99 11.65 9.32 6.99 4.66 2.33
50 28.86 26.46 24.05 21.65 19.24 16.84 14.43 12.03 9.62 7.22 4.81 2.41
51 29.83 27.34 24.86 22.37 19.89 17.40 14.92 12.43 9.94 7.46 4.97 2.49
52 30.84 28.27 25.70 23.13 20.56 17.99 15.42 12.85 10.28 7.71 5.14 2.57
53 31.93 29.27 26.61 23.95 21.29 18.63 15.97 13.30 10.64 7.98 5.32 2.66
54 33.07 30.31 27.56 24.80 22.05 19.29 16.54 13.78 11.02 8.27 5.51 2.76
55 34.29 31.43 28.58 25.72 22.86 20.00 17.15 14.29 11.43 8.57 5.72 2.86
56 35.59 32.62 29.66 26.69 23.73 20.76 17.80 14.83 11.86 8.90 5.93 2.97
57 36.97 33.89 30.81 27.73 24.65 21.57 18.49 15.40 12.32 9.24 6.16 3.08
58 38.45 35.25 32.04 28.84 25.63 22.43 19.23 16.02 12.82 9.61 6.41 3.20
59 40.02 36.69 33.35 30.02 26.68 23.35 20.01 16.68 13.34 10.01 6.67 3.34
60 41.71 38.23 34.76 31.28 27.81 24.33 20.86 17.38 13.90 10.43 6.95 3.48
61 43.52 39.89 36.27 32.64 29.01 25.39 21.76 18.13 14.51 10.88 7.25 3.63
62 45.45 41.66 37.88 34.09 30.30 26.51 22.73 18.94 15.15 11.36 7.58 3.79
63 47.52 43.56 39.60 35.64 31.68 27.72 23.76 19.80 15.84 11.88 7.92 3.96
64 49.40 45.28 41.17 37.05 32.93 28.82 24.70 20.58 16.47 12.35 8.23 4.12
65 49.46 45.34 41.22 37.10 32.97 28.85 24.73 20.61 16.49 12.37 8.24 4.12
66 49.55 45.42 41.29 37.16 33.03 28.90 24.78 20.65 16.52 12.39 8.26 4.13
67 49.66 45.52 41.38 37.25 33.11 28.97 24.83 20.69 16.55 12.42 8.28 4.14
68 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
69 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
70 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
71 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
72 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
73 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
74 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
75 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
76 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
77 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
78 49.49 45.37 41.24 37.12 32.99 28.87 24.75 20.62 16.50 12.37 8.25 4.12
79 49.18 45.08 40.98 36.89 32.79 28.69 24.59 20.49 16.39 12.30 8.20 4.10
80 48.87 44.80 40.73 36.65 32.58 28.51 24.44 20.36 16.29 12.22 8.15 4.07
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
UNISEX - STANDARD
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20 9.71 8.90 8.09 7.28 6.47 5.66 4.86 4.05 3.24 2.43 1.62 0.81
21 9.95 9.12 8.29 7.46 6.63 5.80 4.98 4.15 3.32 2.49 1.66 0.83
22 10.21 9.36 8.51 7.66 6.81 5.96 5.11 4.25 3.40 2.55 1.70 0.85
23 10.50 9.63 8.75 7.88 7.00 6.13 5.25 4.38 3.50 2.63 1.75 0.88
24 10.80 9.90 9.00 8.10 7.20 6.30 5.40 4.50 3.60 2.70 1.80 0.90
25 11.12 10.19 9.27 8.34 7.41 6.49 5.56 4.63 3.71 2.78 1.85 0.93
26 11.77 10.79 9.81 8.83 7.85 6.87 5.89 4.90 3.92 2.94 1.96 0.98
27 12.46 11.42 10.38 9.35 8.31 7.27 6.23 5.19 4.15 3.12 2.08 1.04
28 13.24 12.14 11.03 9.93 8.83 7.72 6.62 5.52 4.41 3.31 2.21 1.10
29 14.02 12.85 11.68 10.52 9.35 8.18 7.01 5.84 4.67 3.51 2.34 1.17
30 14.92 13.68 12.43 11.19 9.95 8.70 7.46 6.22 4.97 3.73 2.49 1.24
31 15.83 14.51 13.19 11.87 10.55 9.23 7.92 6.60 5.28 3.96 2.64 1.32
32 16.84 15.44 14.03 12.63 11.23 9.82 8.42 7.02 5.61 4.21 2.81 1.40
33 17.86 16.37 14.88 13.40 11.91 10.42 8.93 7.44 5.95 4.47 2.98 1.49
34 18.97 17.39 15.81 14.23 12.65 11.07 9.49 7.90 6.32 4.74 3.16 1.58
35 20.21 18.53 16.84 15.16 13.47 11.79 10.11 8.42 6.74 5.05 3.37 1.68
36 21.15 19.39 17.63 15.86 14.10 12.34 10.58 8.81 7.05 5.29 3.53 1.76
37 22.18 20.33 18.48 16.64 14.79 12.94 11.09 9.24 7.39 5.55 3.70 1.85
38 23.26 21.32 19.38 17.45 15.51 13.57 11.63 9.69 7.75 5.82 3.88 1.94
39 24.41 22.38 20.34 18.31 16.27 14.24 12.21 10.17 8.14 6.10 4.07 2.03
40 25.17 23.07 20.98 18.88 16.78 14.68 12.59 10.49 8.39 6.29 4.20 2.10
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
UNISEX - STANDARD
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
41 25.88 23.72 21.57 19.41 17.25 15.10 12.94 10.78 8.63 6.47 4.31 2.16
42 26.63 24.41 22.19 19.97 17.75 15.53 13.32 11.10 8.88 6.66 4.44 2.22
43 27.41 25.13 22.84 20.56 18.27 15.99 13.71 11.42 9.14 6.85 4.57 2.28
44 28.24 25.89 23.53 21.18 18.83 16.47 14.12 11.77 9.41 7.06 4.71 2.35
45 29.11 26.68 24.26 21.83 19.41 16.98 14.56 12.13 9.70 7.28 4.85 2.43
46 30.03 27.53 25.03 22.52 20.02 17.52 15.02 12.51 10.01 7.51 5.01 2.50
47 30.99 28.41 25.83 23.24 20.66 18.08 15.50 12.91 10.33 7.75 5.17 2.58
48 32.02 29.35 26.68 24.02 21.35 18.68 16.01 13.34 10.67 8.01 5.34 2.67
49 33.09 30.33 27.58 24.82 22.06 19.30 16.55 13.79 11.03 8.27 5.52 2.76
50 34.24 31.39 28.53 25.68 22.83 19.97 17.12 14.27 11.41 8.56 5.71 2.85
51 35.44 32.49 29.53 26.58 23.63 20.67 17.72 14.77 11.81 8.86 5.91 2.95
52 36.71 33.65 30.59 27.53 24.47 21.41 18.36 15.30 12.24 9.18 6.12 3.06
53 38.06 34.89 31.72 28.55 25.37 22.20 19.03 15.86 12.69 9.52 6.34 3.17
54 39.48 36.19 32.90 29.61 26.32 23.03 19.74 16.45 13.16 9.87 6.58 3.29
55 40.98 37.57 34.15 30.74 27.32 23.91 20.49 17.08 13.66 10.25 6.83 3.42
56 42.57 39.02 35.48 31.93 28.38 24.83 21.29 17.74 14.19 10.64 7.10 3.55
57 44.23 40.54 36.86 33.17 29.49 25.80 22.12 18.43 14.74 11.06 7.37 3.69
58 46.01 42.18 38.34 34.51 30.67 26.84 23.01 19.17 15.34 11.50 7.67 3.83
59 47.88 43.89 39.90 35.91 31.92 27.93 23.94 19.95 15.96 11.97 7.98 3.99
60 49.16 45.06 40.97 36.87 32.77 28.68 24.58 20.48 16.39 12.29 8.19 4.10
61 49.19 45.09 40.99 36.89 32.79 28.69 24.60 20.50 16.40 12.30 8.20 4.10
62 49.24 45.14 41.03 36.93 32.83 28.72 24.62 20.52 16.41 12.31 8.21 4.10
63 49.30 45.19 41.08 36.98 32.87 28.76 24.65 20.54 16.43 12.33 8.22 4.11
64 49.28 45.17 41.07 36.96 32.85 28.75 24.64 20.53 16.43 12.32 8.21 4.11
65 49.36 45.25 41.13 37.02 32.91 28.79 24.68 20.57 16.45 12.34 8.23 4.11
66 49.47 45.35 41.23 37.10 32.98 28.86 24.74 20.61 16.49 12.37 8.25 4.12
67 49.61 45.48 41.34 37.21 33.07 28.94 24.81 20.67 16.54 12.40 8.27 4.13
68 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
69 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
70 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
71 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
72 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
73 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
74 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
75 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
76 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
77 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
78 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
79 49.43 45.31 41.19 37.07 32.95 28.83 24.72 20.60 16.48 12.36 8.24 4.12
80 49.07 44.98 40.89 36.80 32.71 28.62 24.54 20.45 16.36 12.27 8.18 4.09
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
FEMALE - PREFERRED PLUS
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20 7.25 6.65 6.04 5.44 4.83 4.23 3.63 3.02 2.42 1.81 1.21 0.60
21 7.40 6.78 6.17 5.55 4.93 4.32 3.70 3.08 2.47 1.85 1.23 0.62
22 7.57 6.94 6.31 5.68 5.05 4.42 3.79 3.15 2.52 1.89 1.26 0.63
23 7.74 7.10 6.45 5.81 5.16 4.52 3.87 3.23 2.58 1.94 1.29 0.65
24 7.91 7.25 6.59 5.93 5.27 4.61 3.96 3.30 2.64 1.98 1.32 0.66
25 8.10 7.43 6.75 6.08 5.40 4.73 4.05 3.38 2.70 2.03 1.35 0.68
26 8.38 7.68 6.98 6.29 5.59 4.89 4.19 3.49 2.79 2.10 1.40 0.70
27 8.67 7.95 7.23 6.50 5.78 5.06 4.34 3.61 2.89 2.17 1.45 0.72
28 9.03 8.28 7.53 6.77 6.02 5.27 4.52 3.76 3.01 2.26 1.51 0.75
29 9.36 8.58 7.80 7.02 6.24 5.46 4.68 3.90 3.12 2.34 1.56 0.78
30 9.75 8.94 8.13 7.31 6.50 5.69 4.88 4.06 3.25 2.44 1.63 0.81
31 10.11 9.27 8.43 7.58 6.74 5.90 5.06 4.21 3.37 2.53 1.69 0.84
32 10.62 9.74 8.85 7.97 7.08 6.20 5.31 4.43 3.54 2.66 1.77 0.89
33 11.17 10.24 9.31 8.38 7.45 6.52 5.59 4.65 3.72 2.79 1.86 0.93
34 11.73 10.75 9.78 8.80 7.82 6.84 5.87 4.89 3.91 2.93 1.96 0.98
35 12.40 11.37 10.33 9.30 8.27 7.23 6.20 5.17 4.13 3.10 2.07 1.03
36 12.94 11.86 10.78 9.71 8.63 7.55 6.47 5.39 4.31 3.24 2.16 1.08
37 13.49 12.37 11.24 10.12 8.99 7.87 6.75 5.62 4.50 3.37 2.25 1.12
38 14.09 12.92 11.74 10.57 9.39 8.22 7.05 5.87 4.70 3.52 2.35 1.17
39 14.70 13.48 12.25 11.03 9.80 8.58 7.35 6.13 4.90 3.68 2.45 1.23
40 15.37 14.09 12.81 11.53 10.25 8.97 7.69 6.40 5.12 3.84 2.56 1.28
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
FEMALE - PREFERRED PLUS
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
41 16.05 14.71 13.38 12.04 10.70 9.36 8.03 6.69 5.35 4.01 2.68 1.34
42 16.78 15.38 13.98 12.59 11.19 9.79 8.39 6.99 5.59 4.20 2.80 1.40
43 17.54 16.08 14.62 13.16 11.69 10.23 8.77 7.31 5.85 4.39 2.92 1.46
44 18.34 16.81 15.28 13.76 12.23 10.70 9.17 7.64 6.11 4.59 3.06 1.53
45 19.19 17.59 15.99 14.39 12.79 11.19 9.60 8.00 6.40 4.80 3.20 1.60
46 20.07 18.40 16.73 15.05 13.38 11.71 10.04 8.36 6.69 5.02 3.35 1.67
47 20.82 19.09 17.35 15.62 13.88 12.15 10.41 8.68 6.94 5.21 3.47 1.74
48 21.29 19.52 17.74 15.97 14.19 12.42 10.65 8.87 7.10 5.32 3.55 1.77
49 21.77 19.96 18.14 16.33 14.51 12.70 10.89 9.07 7.26 5.44 3.63 1.81
50 22.86 20.96 19.05 17.15 15.24 13.34 11.43 9.53 7.62 5.72 3.81 1.91
51 23.43 21.48 19.53 17.57 15.62 13.67 11.72 9.76 7.81 5.86 3.91 1.95
52 24.04 22.04 20.03 18.03 16.03 14.02 12.02 10.02 8.01 6.01 4.01 2.00
53 24.66 22.61 20.55 18.50 16.44 14.39 12.33 10.28 8.22 6.17 4.11 2.06
54 26.07 23.90 21.73 19.55 17.38 15.21 13.04 10.86 8.69 6.52 4.35 2.17
55 26.80 24.57 22.33 20.10 17.87 15.63 13.40 11.17 8.93 6.70 4.47 2.23
56 27.56 25.26 22.97 20.67 18.37 16.08 13.78 11.48 9.19 6.89 4.59 2.30
57 28.36 26.00 23.63 21.27 18.91 16.54 14.18 11.82 9.45 7.09 4.73 2.36
58 29.25 26.81 24.38 21.94 19.50 17.06 14.63 12.19 9.75 7.31 4.88 2.44
59 30.20 27.68 25.17 22.65 20.13 17.62 15.10 12.58 10.07 7.55 5.03 2.52
60 32.29 29.60 26.91 24.22 21.53 18.84 16.15 13.45 10.76 8.07 5.38 2.69
61 33.47 30.68 27.89 25.10 22.31 19.52 16.74 13.95 11.16 8.37 5.58 2.79
62 34.73 31.84 28.94 26.05 23.15 20.26 17.37 14.47 11.58 8.68 5.79 2.89
63 36.09 33.08 30.08 27.07 24.06 21.05 18.05 15.04 12.03 9.02 6.02 3.01
64 37.54 34.41 31.28 28.16 25.03 21.90 18.77 15.64 12.51 9.39 6.26 3.13
65 39.06 35.81 32.55 29.30 26.04 22.79 19.53 16.28 13.02 9.77 6.51 3.26
66 40.69 37.30 33.91 30.52 27.13 23.74 20.35 16.95 13.56 10.17 6.78 3.39
67 42.30 38.45 34.61 30.76 26.92 23.07 19.23 15.38 11.54 7.69 3.85 0.00
68 44.01 39.61 35.21 30.81 26.41 22.01 17.60 13.20 8.80 4.40 0.00 0.00
69 47.83 43.05 38.26 33.48 28.70 23.92 19.13 14.35 9.57 4.78 0.00 0.00
70 49.81 45.66 41.51 36.51 31.29 26.08 20.86 15.65 10.43 5.22 0.00 0.00
71 49.81 45.66 41.51 37.36 33.21 28.50 22.80 17.10 11.40 5.70 0.00 0.00
72 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
73 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
74 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
75 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
76 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
77 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
78 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
79 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
80 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
FEMALE - PREFERRED
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0 5.48 5.02 4.57 4.11 3.65 3.20 2.74 2.28 1.83 1.37 0.91 0.46
1 5.37 4.92 4.48 4.03 3.58 3.13 2.69 2.24 1.79 1.34 0.90 0.45
2 5.44 4.99 4.53 4.08 3.63 3.17 2.72 2.27 1.81 1.36 0.91 0.45
3 5.51 5.05 4.59 4.13 3.67 3.21 2.76 2.30 1.84 1.38 0.92 0.46
4 5.58 5.12 4.65 4.19 3.72 3.26 2.79 2.33 1.86 1.40 0.93 0.47
5 5.67 5.20 4.73 4.25 3.78 3.31 2.84 2.36 1.89 1.42 0.95 0.47
6 5.76 5.28 4.80 4.32 3.84 3.36 2.88 2.40 1.92 1.44 0.96 0.48
7 5.85 5.36 4.88 4.39 3.90 3.41 2.93 2.44 1.95 1.46 0.98 0.49
8 5.95 5.45 4.96 4.46 3.97 3.47 2.98 2.48 1.98 1.49 0.99 0.50
9 6.06 5.56 5.05 4.55 4.04 3.54 3.03 2.53 2.02 1.52 1.01 0.51
10 6.16 5.65 5.13 4.62 4.11 3.59 3.08 2.57 2.05 1.54 1.03 0.51
11 6.28 5.76 5.23 4.71 4.19 3.66 3.14 2.62 2.09 1.57 1.05 0.52
12 6.39 5.86 5.33 4.79 4.26 3.73 3.20 2.66 2.13 1.60 1.07 0.53
13 6.53 5.99 5.44 4.90 4.35 3.81 3.27 2.72 2.18 1.63 1.09 0.54
14 6.65 6.10 5.54 4.99 4.43 3.88 3.33 2.77 2.22 1.66 1.11 0.55
15 6.77 6.21 5.64 5.08 4.51 3.95 3.39 2.82 2.26 1.69 1.13 0.56
16 6.91 6.33 5.76 5.18 4.61 4.03 3.46 2.88 2.30 1.73 1.15 0.58
17 7.05 6.46 5.88 5.29 4.70 4.11 3.53 2.94 2.35 1.76 1.18 0.59
18 7.19 6.59 5.99 5.39 4.79 4.19 3.60 3.00 2.40 1.80 1.20 0.60
19 7.35 6.74 6.13 5.51 4.90 4.29 3.68 3.06 2.45 1.84 1.23 0.61
20 7.15 6.55 5.96 5.36 4.77 4.17 3.58 2.98 2.38 1.79 1.19 0.60
21 7.29 6.68 6.08 5.47 4.86 4.25 3.65 3.04 2.43 1.82 1.22 0.61
22 7.45 6.83 6.21 5.59 4.97 4.35 3.73 3.10 2.48 1.86 1.24 0.62
23 7.63 6.99 6.36 5.72 5.09 4.45 3.82 3.18 2.54 1.91 1.27 0.64
24 7.81 7.16 6.51 5.86 5.21 4.56 3.91 3.25 2.60 1.95 1.30 0.65
25 8.11 7.43 6.76 6.08 5.41 4.73 4.06 3.38 2.70 2.03 1.35 0.68
26 8.52 7.81 7.10 6.39 5.68 4.97 4.26 3.55 2.84 2.13 1.42 0.71
27 8.94 8.20 7.45 6.71 5.96 5.22 4.47 3.73 2.98 2.24 1.49 0.75
28 9.43 8.64 7.86 7.07 6.29 5.50 4.72 3.93 3.14 2.36 1.57 0.79
29 9.92 9.09 8.27 7.44 6.61 5.79 4.96 4.13 3.31 2.48 1.65 0.83
30 10.48 9.61 8.73 7.86 6.99 6.11 5.24 4.37 3.49 2.62 1.75 0.87
31 11.02 10.10 9.18 8.27 7.35 6.43 5.51 4.59 3.67 2.76 1.84 0.92
32 11.64 10.67 9.70 8.73 7.76 6.79 5.82 4.85 3.88 2.91 1.94 0.97
33 12.25 11.23 10.21 9.19 8.17 7.15 6.13 5.10 4.08 3.06 2.04 1.02
34 12.90 11.83 10.75 9.68 8.60 7.53 6.45 5.38 4.30 3.23 2.15 1.08
35 13.62 12.49 11.35 10.22 9.08 7.95 6.81 5.68 4.54 3.41 2.27 1.14
36 14.22 13.04 11.85 10.67 9.48 8.30 7.11 5.93 4.74 3.56 2.37 1.19
37 14.84 13.60 12.37 11.13 9.89 8.66 7.42 6.18 4.95 3.71 2.47 1.24
38 15.51 14.22 12.93 11.63 10.34 9.05 7.76 6.46 5.17 3.88 2.59 1.29
39 16.19 14.84 13.49 12.14 10.79 9.44 8.10 6.75 5.40 4.05 2.70 1.35
40 16.93 15.52 14.11 12.70 11.29 9.88 8.47 7.05 5.64 4.23 2.82 1.41
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
FEMALE - PREFERRED
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
41 17.71 16.23 14.76 13.28 11.81 10.33 8.86 7.38 5.90 4.43 2.95 1.48
42 18.52 16.98 15.43 13.89 12.35 10.80 9.26 7.72 6.17 4.63 3.09 1.54
43 19.38 17.77 16.15 14.54 12.92 11.31 9.69 8.08 6.46 4.85 3.23 1.62
44 20.28 18.59 16.90 15.21 13.52 11.83 10.14 8.45 6.76 5.07 3.38 1.69
45 21.19 19.42 17.66 15.89 14.13 12.36 10.60 8.83 7.06 5.30 3.53 1.77
46 22.25 20.40 18.54 16.69 14.83 12.98 11.13 9.27 7.42 5.56 3.71 1.85
47 22.94 21.03 19.12 17.21 15.29 13.38 11.47 9.56 7.65 5.74 3.82 1.91
48 23.52 21.56 19.60 17.64 15.68 13.72 11.76 9.80 7.84 5.88 3.92 1.96
49 24.11 22.10 20.09 18.08 16.07 14.06 12.06 10.05 8.04 6.03 4.02 2.01
50 25.41 23.29 21.18 19.06 16.94 14.82 12.71 10.59 8.47 6.35 4.24 2.12
51 26.12 23.94 21.77 19.59 17.41 15.24 13.06 10.88 8.71 6.53 4.35 2.18
52 26.86 24.62 22.38 20.15 17.91 15.67 13.43 11.19 8.95 6.72 4.48 2.24
53 27.63 25.33 23.03 20.72 18.42 16.12 13.82 11.51 9.21 6.91 4.61 2.30
54 28.45 26.08 23.71 21.34 18.97 16.60 14.23 11.85 9.48 7.11 4.74 2.37
55 29.31 26.87 24.43 21.98 19.54 17.10 14.66 12.21 9.77 7.33 4.89 2.44
56 31.16 28.56 25.97 23.37 20.77 18.18 15.58 12.98 10.39 7.79 5.19 2.60
57 32.18 29.50 26.82 24.14 21.45 18.77 16.09 13.41 10.73 8.05 5.36 2.68
58 33.25 30.48 27.71 24.94 22.17 19.40 16.63 13.85 11.08 8.31 5.54 2.77
59 34.40 31.53 28.67 25.80 22.93 20.07 17.20 14.33 11.47 8.60 5.73 2.87
60 35.65 32.68 29.71 26.74 23.77 20.80 17.83 14.85 11.88 8.91 5.94 2.97
61 36.98 33.90 30.82 27.74 24.65 21.57 18.49 15.41 12.33 9.25 6.16 3.08
62 38.45 35.25 32.04 28.84 25.63 22.43 19.23 16.02 12.82 9.61 6.41 3.20
63 40.02 36.69 33.35 30.02 26.68 23.35 20.01 16.68 13.34 10.01 6.67 3.34
64 41.70 38.23 34.75 31.28 27.80 24.33 20.85 17.38 13.90 10.43 6.95 3.48
65 43.47 39.85 36.23 32.60 28.98 25.36 21.74 18.11 14.49 10.87 7.25 3.62
66 45.35 41.57 37.79 34.01 30.23 26.45 22.68 18.90 15.12 11.34 7.56 3.78
67 47.36 43.41 39.47 35.52 31.57 27.63 23.68 19.73 15.79 11.84 7.89 3.95
68 49.53 45.40 41.28 37.15 33.02 28.89 24.77 20.64 16.51 12.38 8.26 4.13
69 49.67 45.53 41.39 37.25 33.11 28.97 24.84 20.70 16.56 12.42 8.28 4.14
70 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
71 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.19 10.79 5.40 0.00
72 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
73 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
74 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
75 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
76 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
77 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
78 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
79 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
80 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
FEMALE - STANDARD
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20 8.12 7.44 6.77 6.09 5.41 4.74 4.06 3.38 2.71 2.03 1.35 0.68
21 8.42 7.72 7.02 6.32 5.61 4.91 4.21 3.51 2.81 2.11 1.40 0.70
22 8.73 8.00 7.28 6.55 5.82 5.09 4.37 3.64 2.91 2.18 1.46 0.73
23 9.05 8.30 7.54 6.79 6.03 5.28 4.53 3.77 3.02 2.26 1.51 0.75
24 9.40 8.62 7.83 7.05 6.27 5.48 4.70 3.92 3.13 2.35 1.57 0.78
25 9.77 8.96 8.14 7.33 6.51 5.70 4.89 4.07 3.26 2.44 1.63 0.81
26 10.33 9.47 8.61 7.75 6.89 6.03 5.17 4.30 3.44 2.58 1.72 0.86
27 10.93 10.02 9.11 8.20 7.29 6.38 5.47 4.55 3.64 2.73 1.82 0.91
28 11.61 10.64 9.68 8.71 7.74 6.77 5.81 4.84 3.87 2.90 1.94 0.97
29 12.29 11.27 10.24 9.22 8.19 7.17 6.15 5.12 4.10 3.07 2.05 1.02
30 13.08 11.99 10.90 9.81 8.72 7.63 6.54 5.45 4.36 3.27 2.18 1.09
31 13.86 12.71 11.55 10.40 9.24 8.09 6.93 5.78 4.62 3.47 2.31 1.16
32 14.75 13.52 12.29 11.06 9.83 8.60 7.38 6.15 4.92 3.69 2.46 1.23
33 15.64 14.34 13.03 11.73 10.43 9.12 7.82 6.52 5.21 3.91 2.61 1.30
34 16.59 15.21 13.83 12.44 11.06 9.68 8.30 6.91 5.53 4.15 2.77 1.38
35 17.66 16.19 14.72 13.25 11.77 10.30 8.83 7.36 5.89 4.42 2.94 1.47
36 18.48 16.94 15.40 13.86 12.32 10.78 9.24 7.70 6.16 4.62 3.08 1.54
37 19.33 17.72 16.11 14.50 12.89 11.28 9.67 8.05 6.44 4.83 3.22 1.61
38 20.23 18.54 16.86 15.17 13.49 11.80 10.12 8.43 6.74 5.06 3.37 1.69
39 21.18 19.42 17.65 15.89 14.12 12.36 10.59 8.83 7.06 5.30 3.53 1.77
40 22.17 20.32 18.48 16.63 14.78 12.93 11.09 9.24 7.39 5.54 3.70 1.85
</TABLE>
<PAGE>
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
PARK AVENUE LIFE
SURRENDER CHARGE RATES BY ISSUE AGE AND DURATION PER $1000
NEW YORK ONLY
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
FEMALE - STANDARD
- -----------------------------------------------------------------------------------------------
issue Duration
age 1 2 3 4 5 6 7 8 9 10 11 12
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
41 22.80 20.90 19.00 17.10 15.20 13.30 11.40 9.50 7.60 5.70 3.80 1.90
42 23.36 21.41 19.47 17.52 15.57 13.63 11.68 9.73 7.79 5.84 3.89 1.95
43 23.95 21.95 19.96 17.96 15.97 13.97 11.98 9.98 7.98 5.99 3.99 2.00
44 24.56 22.51 20.47 18.42 16.37 14.33 12.28 10.23 8.19 6.14 4.09 2.05
45 25.19 23.09 20.99 18.89 16.79 14.69 12.60 10.50 8.40 6.30 4.20 2.10
46 25.87 23.71 21.56 19.40 17.25 15.09 12.94 10.78 8.62 6.47 4.31 2.16
47 26.58 24.37 22.15 19.94 17.72 15.51 13.29 11.08 8.86 6.65 4.43 2.22
48 27.32 25.04 22.77 20.49 18.21 15.94 13.66 11.38 9.11 6.83 4.55 2.28
49 28.11 25.77 23.43 21.08 18.74 16.40 14.06 11.71 9.37 7.03 4.69 2.34
50 28.93 26.52 24.11 21.70 19.29 16.88 14.47 12.05 9.64 7.23 4.82 2.41
51 29.80 27.32 24.83 22.35 19.87 17.38 14.90 12.42 9.93 7.45 4.97 2.48
52 30.71 28.15 25.59 23.03 20.47 17.91 15.36 12.80 10.24 7.68 5.12 2.56
53 31.68 29.04 26.40 23.76 21.12 18.48 15.84 13.20 10.56 7.92 5.28 2.64
54 32.70 29.98 27.25 24.53 21.80 19.08 16.35 13.63 10.90 8.18 5.45 2.73
55 33.77 30.96 28.14 25.33 22.51 19.70 16.89 14.07 11.26 8.44 5.63 2.81
56 34.91 32.00 29.09 26.18 23.27 20.36 17.46 14.55 11.64 8.73 5.82 2.91
57 36.12 33.11 30.10 27.09 24.08 21.07 18.06 15.05 12.04 9.03 6.02 3.01
58 37.41 34.29 31.18 28.06 24.94 21.82 18.71 15.59 12.47 9.35 6.24 3.12
59 38.79 35.56 32.33 29.09 25.86 22.63 19.40 16.16 12.93 9.70 6.47 3.23
60 40.27 36.91 33.56 30.20 26.85 23.49 20.14 16.78 13.42 10.07 6.71 3.36
61 41.87 38.38 34.89 31.40 27.91 24.42 20.94 17.45 13.96 10.47 6.98 3.49
62 43.59 39.96 36.33 32.69 29.06 25.43 21.80 18.16 14.53 10.90 7.27 3.63
63 45.44 41.65 37.87 34.08 30.29 26.51 22.72 18.93 15.15 11.36 7.57 3.79
64 47.40 43.45 39.50 35.55 31.60 27.65 23.70 19.75 15.80 11.85 7.90 3.95
65 49.17 45.07 40.98 36.88 32.78 28.68 24.59 20.49 16.39 12.29 8.20 4.10
66 49.21 45.11 41.01 36.91 32.81 28.71 24.61 20.50 16.40 12.30 8.20 4.10
67 49.25 45.15 41.04 36.94 32.83 28.73 24.63 20.52 16.42 12.31 8.21 4.10
68 49.31 45.20 41.09 36.98 32.87 28.76 24.66 20.55 16.44 12.33 8.22 4.11
69 49.39 45.27 41.16 37.04 32.93 28.81 24.70 20.58 16.46 12.35 8.23 4.12
70 49.49 45.37 41.24 37.12 32.99 28.87 24.75 20.62 16.50 12.37 8.25 4.12
71 49.63 45.49 41.36 37.22 33.09 28.95 24.82 20.68 16.54 12.41 8.27 4.14
72 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.60 12.45 8.30 4.15
73 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
74 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
75 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
76 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
77 49.81 45.66 41.51 37.36 33.21 29.06 23.92 17.94 11.96 5.98 0.00 0.00
78 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
79 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
80 49.80 45.65 41.50 37.35 33.20 29.05 24.90 20.75 16.31 10.87 5.44 0.00
</TABLE>
