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Exhibit 4(ii)
ENHANCED DOLLAR COST AVERAGING RIDER
This Rider forms a part of the Contract to which it is attached, and is
effective upon issuance. In the case of a conflict with any provision of the
Contract, the provisions of this Rider will control. This Rider amends the
Contract as follows:
The following provisions are added to the Contract:
ENHANCED DOLLAR COST AVERAGING
Prior to the Annuity Date, you may allocate Purchase Payments to an Enhanced
Dollar Cost Averaging Account (EDCA Account) that is backed by our General
Account. If you request to participate in the Enhanced Dollar Cost Averaging
program, we will open an EDCA Account for you. The EDCA Account will provide
for transfers to any of the Subaccounts of the Separate Account you have chosen
over your choice of a 3, 6 or 12 month period. You may also select any other
time period that we may declare. All Purchase Payments applied to this program
will be allocated to your EDCA Account. No transfers may be made into this
Account.
Under the Enhanced Dollar Cost Averaging program, a specified dollar amount of
Contract Value will be transferred on a monthly basis from your EDCA Account to
the Subaccounts you have chosen. The initial dollar amount transferred will be
equal to the initial amount allocated to your EDCA Account divided by the
number of months in the time period you choose.
The first transfer will be made on the date the Purchase Payment is allocated to
the EDCA Account. Subsequent transfers will be made each month thereafter on the
same day. However, transfers will be made on the 1st day of the following month
for Purchase Payments allocated on the 29th, 30th or 31st day of a month. If
such a day is not a Business Day the transfer will take place on the next
Business Day. Transfers will continue on a monthly basis until all amounts are
transferred from the EDCA Account. Your EDCA Account will terminate as of the
date of the last transfer.
The interest rate earned on your EDCA Account will be the Fixed Account Minimum
Guaranteed Interest Rate, plus any additional interest, which we may declare
from time to time.
You can have only one dollar cost averaging program at any given time. You may
allocate subsequent Purchase Payments to your existing EDCA Account. The
allocation of subsequent Purchase Payments to an existing EDCA Account increases
the monthly dollar amount of Contract Value transferred and thereby accelerates
the time period over which transfers are made. The new dollar amount transferred
out of the EDCA Account will be determined by dividing each new allocation by
the number of months the EDCA Account is based upon and adding that amount to
the existing transfer amount. Each allocation resulting from a subsequent
Purchase Payment will earn interest at the then-current interest rate applied to
new allocations to an EDCA Account of the same monthly term. Allocations
resulting from each Purchase Payment, along with the interest credited thereon,
will be transferred on a First-in-First-out (FIFO) basis.
If you terminate your participation in this program, all money remaining in the
EDCA Account will be transferred to a Money Market Subaccount unless you specify
otherwise.
New England Life Insurance Company has caused this Rider to be signed by its
President or a Vice President and/or Secretary.
______________________ Secretary _________________ President
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THREE MONTH MARKET ENTRY RIDER
This Rider forms a part of the Contract to which it is attached, and is
effective upon issuance. In the case of a conflict with any provision of the
Contract, the provisions of this Rider will control. This Rider amends the
Contract as follows:
The following provisions are added to the Contract:
THREE MONTH MARKET ENTRY
Prior to the Annuity Date, you may allocate Purchase Payments to a Three Month
Market Entry Account (TMME Account) that is backed by our General Account. If
you request to participate in the Three Month Market Entry program, we will open
an TMME Account for you. The TMME Account will provide for transfers to any of
the Subaccounts of the Separate Account that you have chosen over a 3 month
period. You may also choose any other time period that we may declare. All
Purchase Payments applied to this program will be allocated to your TMME
Account. No transfers may be made into this Account.
Under the Three Month Market Entry program, a specified dollar amount of your
Contract Value will be transferred on a monthly basis from your TMME Account to
the Subaccounts you have chosen. The initial dollar amount transferred will be
equal to the initial amount allocated to your TMME Account divided by the number
of months in the time period you have selected.
The first transfer will be made on the date the Purchase Payment is allocated to
the TMME Account. Subsequent transfers will be made each month thereafter on the
same day. However, transfers will be made on the 1st day of the following month
for Purchase Payments allocated on the 29th, 30th or 31st day of a month. If
such a day is not a Business Day the transfer will take place on the next
Business Day. Transfers will continue on a monthly basis until all amounts are
transferred from the TMME Account. Your TMME Account will terminate as of the
date of the last transfer.
The interest rate earned on your TMME Account will be the Fixed Account Minimum
Guaranteed Interest Rate, plus any additional interest, which we may declare
from time to time.
You can have only one Three Month Market Entry account at any given time. You
may allocate subsequent Purchase Payments to your existing TMME Account. The
allocation of subsequent Purchase Payments to an existing TMME Account increases
the monthly dollar amount of Contract Value transferred and thereby accelerates
the time period over which transfers are made. The new dollar amount transferred
out of the TMME Account will be determined by dividing each new allocation by
the number of months the TMME Account is based upon and adding that amount to
the existing transfer amount. Each allocation resulting from a subsequent
Purchase Payment will earn interest at the then-current interest rate applied to
new allocations to a TMME Account of the same monthly term. Allocations
resulting from each Purchase Payment, along with the interest credited thereon,
will be transferred on a First-in-First-out (FIFO) basis.
If you terminate your participation in this program, all money remaining in the
TMME Account will be transferred to a Money Market Subaccount unless you specify
otherwise.
New England Life Insurance Company has caused this Rider to be signed by its
President or a Vice President and/or Secretary.
______________________ Secretary _________________ President
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WAIVER OF WITHDRAWAL CHARGE FOR NURSING HOME OR HOSPITAL CONFINEMENT RIDER
This Rider forms a part of the Contract to which it is attached and is effective
as of the Issue Date. In the case of a conflict with any provision in the
Contract, the provisions of this Rider will control. Your election of this Rider
is irrevocable and its provisions will remain part of the Contract until the
earlier of the Annuity Date or the date the Contract terminates. This Rider
amends the Contract as follows:
The following provisions are added to the Contract:
WAIVER OF WITHDRAWAL CHARGE FOR NURSING HOME OR HOSPITAL CONFINEMENT
After the first Contract Anniversary, the Withdrawal Charge will be waived upon
a withdrawal if:
1. you are confined to a Nursing Home and/or Hospital for at least 90
consecutive days or confined for a total of at least 90 days if there is
no more than a 6-month break in the confinement and the confinements are
for related causes;
2. the confinement referred to in (1) above begins on or after the first
Contract Anniversary;
3. the withdrawal request and proof satisfactory to us of confinement are
received by us at our Administrative Office either while you are
confined or within 90 days after such confinement;
4. confinement in a Nursing Home and/or Hospital is prescribed by a
Physician and is Medically Necessary; and
5. you have been the Owner continuously since the Issue Date, or have
become the Owner as a spousal Beneficiary who continues the Contract.
In the case of Joint Owners, this Rider applies to either Joint Owner. If the
Owner is not a natural person, this Rider applies to the Annuitant.
DEFINITIONS
HOSPITAL - A facility which:
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(1) is located in the United States or its territories;
(2) is licensed as a hospital by the jurisdiction in which it is located;
(3) is supervised by a staff of licensed physicians;
(4) provides nursing services 24 hours a day by, or under the supervision
of, a registered nurse (R.N.);
(5) operates primarily for the care and treatment of sick and injured
persons as inpatients for a charge; and
(6) has access to medical and diagnostic facilities.
INTERMEDIATE CARE FACILITY - A facility which:
(1) is located in the United States;
(2) is licensed and operated as an Intermediate Care Facility according to
the laws of the jurisdiction in which it is located;
(3) provides continuous 24 hours a day nursing service by, or under the
supervision of, a registered graduate professional nurse (R.N.) or
a licensed practical nurse (L.P.N.); and
(4) maintains a daily medical record of each patient.
MEDICALLY NECESSARY - Appropriate and consistent with the diagnosis in accord
with accepted standards of practice and which could not have been omitted
without affecting the individual's condition.
NURSING HOME - A facility which is a Skilled Nursing Facility, an Intermediate
Care Facility or Residential Care Facility. Nursing Home does not mean:
(1) a home for the aged, a community living center or place that primarily
provides domiciliary, residency or retirement care; or
(2) a place owned or operated by a member of the Owner's immediate family.
Immediate family members include the Owner's spouse, children, parents,
grandparents, grandchildren, siblings and in-laws.
PHYSICIAN - Any person duly licensed and legally qualified to diagnose and treat
sickness and injuries. A physician must be providing services within the scope
of his or her license. A Physician may not be a member of the Owner's immediate
family.
RESIDENTIAL CARE FACILITY - A facility which:
(1) is located in the United States or its territories;
(2) is licensed and operated as a Residential Care Facility according to
the laws of the jurisdiction in which it is located; and
(3) provides nursing care under the supervision of a registered
professional nurse (R.N.).
SKILLED NURSING FACILITY - A facility which:
(1) is located in the United States or its territories;
(2) is licensed and operated as a skilled Nursing Facility according to the
laws of the jurisdiction in which it is located;
(3) provides skilled nursing care under the supervision of a licensed
physician;
(4) provides continuous 24 hours a day nursing services by, or under the
supervision of, a registered graduate professional nurse (R.N.); and
(5) maintains a daily medical record of each patient.
New England Life Insurance Company has caused this Rider to be signed by its
President or a Vice President and/or Secretary.
________________________ Secretary ___________________ President
<PAGE>
WAIVER OF WITHDRAWAL CHARGE FOR TERMINAL ILLNESS RIDER
This Rider forms a part of the Contract to which it is attached and is effective
as of the Issue Date. In the case of a conflict with any provision in the
Contract, the provisions of this Rider will control. Your election or this Rider
is irrevocable and its provisions will remain in part of the Contract until the
earlier of the Annuity Date or the date the Contract terminates. This Rider
amends the Contract as follows:
The following provisions are added to the Contract:
WAIVER OF WITHDRAWAL CHARGE FOR TERMINAL ILLNESS
After the first Contract Anniversary, the Withdrawal Charge will be waived upon
a withdrawal if:
1. you are terminally ill and not expected to live more than 12 months;
2. a Qualified Physician certifies to your illness and life expectancy;
3. you were not diagnosed with the terminal illness as of the Issue Date;
and
4. you have been the Owner continuously since the Issue Date or have
become the Owner as spousal Beneficiary who continues the Contract.
In the case of Joint Owners, this Rider applies to either Joint Owner. If the
Owner is a not a natural person, this Rider applies to the Annuitant.
Qualified Physician is any person duly licensed and legally qualified to
diagnose and treat sickness and injuries. A physician must be providing services
within the scope of his or her license. A Physician may not be a member of the
Owner's immediate family. Immediate family members include the Owner's spouse,
children, parents, grandparents, grandchildren, siblings and in-laws.
New England Life Insurance Company has caused this Rider to be signed by its
President or a Vice President and/or Secretary.
________________________ Secretary ___________________ President
<PAGE>
FIXED ACCOUNT RIDER FOR VARIABLE ANNUITY
This Rider is part of the Contract to which it is attached and is effective upon
issuance. In the case of a conflict with any provision of the Contract, the
provisions of this Rider will control. This Rider amends the Contract as
follows:
I. DEFINITIONS -
The following replaces the definition of "Contract Value" in the DEFINITIONS
section:
CONTRACT VALUE: The sum of your interest in the Subaccounts of the
Separate Account and your interest in this Fixed
Account option and any other account options that
may be included by Rider.
The following is added to the DEFINITIONS section:
FIXED ACCOUNT: This option pays interest guaranteed by us on
Purchase Payments or transfers allocated to it. It
does not share in the investment experience of any
Subaccount of the Separate Account.
II. FIXED ACCOUNT - The following is added to the Contract:
FIXED ACCOUNT PROVISIONS
FIXED ACCOUNT - You can choose to have Purchase Payments allocated to the
Fixed Account. During the Accumulation Period you can transfer any portion
of your Contract Value to the Fixed Account from the Separate Account and
to the Separate Account from the Fixed Account, subject to the terms of
this Contract.
FIXED ACCOUNT VALUE - Your Fixed Account Value at any time during the
Accumulation Period is equal to:
1. the Purchase Payments allocated to the Fixed Account; plus
2. the amounts transferred from other options to the Fixed Account;
plus
3. interest credited to the Fixed Account; less
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4. any withdrawals taken from the Fixed Account and any applicable
charges; less
5. any amounts transferred to other options from the Fixed Account;
less
6. any fees, charges or any applicable Premium and Other Taxes
deducted from the Fixed Account.
INTEREST TO BE CREDITED - We guarantee that the interest credited to your
Fixed Account Value will not be less than the Fixed Account Minimum
Guaranteed Interest Rate shown on the Contract Schedule. We may credit
additional interest at our discretion. The Fixed Account Initial Interest
Rate is shown on the Contract Schedule.
The interest rate for each amount allocated to the Fixed Account is set by
us in advance. Thereafter, each year a new rate will apply to that amount
plus the interest previously credited to that amount. The new rate will be
the renewal rate set by us in advance and will apply for 12 months.
Interest will be credited to the Fixed Account on a daily basis. We may
declare interest rates for different one-year periods. If we do so we will
tell you in advance.
RESTRICTION OF PURCHASE PAYMENTS AND TRANSFERS TO THE FIXED ACCOUNT - We
reserve the right to restrict Purchase Payments and transfers to the Fixed
Account:
* If the effective annual rate of interest that would apply to the payment
or transfer is the Fixed Account Minimum Guaranteed Rate shown on the
Contract Schedule; or
* If the Contract's Fixed Account Value equals or exceeds our published
maximum for the Fixed Account.
RESTRICTION ON TRANSFERS OUT OF THE FIXED ACCOUNT - Each Contract Year you
can transfer a limited portion of the Contract Value in the Fixed Account
to the Subaccounts subject to our published rules. The transfer will be
limited to the greater of 25% of the Contract Value in the Fixed Account at
the end of the day on a Contract Anniversary, or the amount transferred out
of the Fixed Account in the prior Contract Year.
For 180 days from the date of any transfer out of the Fixed Account: you
cannot make any transfers to the Fixed Account; and we reserve the right to
restrict Purchase Payments to the Fixed Account.
DEFERRAL OF PAYMENTS OR TRANSFERS FROM THE FIXED ACCOUNT - We reserve the
right to defer payment for a withdrawal or transfer from the Fixed Account
for the period permitted by law but for not more than six (6) months after
Notice to us.
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III. TRANSFER PROVISIONS - The following is added to the "Transfers During the
Accumulation Period" section of the "Transfer Provisions:"
During the Accumulation Period, you can make transfers from the Subaccounts
to the Fixed Account and from the Fixed Account to the Subaccounts. All
transfers are subject to any restrictions or limitations described in the
Contract.
IV. ANNUITY PROVISIONS - The following is added to the "Annuity" section of the
"Annuity Provisions":
Unless you specify otherwise, if all of your Contract Value on the Annuity
Calculation Date is allocated to the Fixed Account, your initial Income
Payment will be paid as a Fixed Income Payment. If all of your Contract
Value on this date is allocated to the Separate Account, your initial
Income Payment will be paid as a Variable Income Payment. If your Contract
Value on this date is allocated to both the Fixed Account and the Separate
Account, your initial Income Payment will be paid as a combination of a
Fixed Income Payment and Variable Income Payment calculated based on the
proportionate value allocated to each.
V. WITHDRAWAL PROVISIONS - The following is added to the "WITHDRAWALS" section
of the "Withdrawal Provisions:"
The portion of Contract Value allocated to the Fixed Account will also be
reduced in the ratio that it bears to the total Contract Value unless you
specify otherwise in a Notice to us.
New England Life Insurance Company has caused this Rider to be signed by its
President or a Vice President and/or Secretary.
________________________ Secretary ___________________ President
<PAGE>
ADDITIONAL DEATH BENEFIT RIDER [- EARNINGS PRESERVATION BENEFIT]
This Rider forms a part of the Contract to which it is attached and is effective
upon issuance. In the case of a conflict with any provision in the Contract, the
provisions of this Rider will control. Your election of this Rider is
irrevocable and its provisions will remain part of the Contract until the
Contract terminates. This Rider amends the Contract as follows:
DEATH BENEFIT PROVISIONS
The following is added to the "Death Benefit Provisions:"
ADDITIONAL DEATH BENEFIT DURING THE ACCUMULATION PERIOD - During the
Accumulation Period, an Additional Death Benefit will be paid to your
Beneficiary (ies) upon your death, the first death of a Joint Owner, or the
death of the Annuitant if a non-natural person owns the Contract. If a non-
natural person owns the Contract, the Annuitant shall be deemed to be Owner for
purposes of determining the Additional Death Benefit. If there are Joint Owners,
the age of the oldest will be used to determine the Additional Death Benefit.
ADDITIONAL DEATH BENEFIT AMOUNT
The Additional Death Benefit Amount will be:
Before the Contract Anniversary immediately preceding the Owner's 81st
birthday:
(a) the Death Benefit Amount payable under the Contract, less
(b) Total Purchase Payments Not Withdrawn, multiplied by
(c) the applicable Benefit Percentage from the table below based on
the Owner's Issue Age.
On or after the Contract Anniversary immediately preceding the Owner's 81st
birthday:
(a) the Death Benefit Amount on the Contract Anniversary immediately
preceding the Owner's 81st birthday, increased by any Purchase
Payments made after that date and reduced proportionately by the
percentage reduction in Contract Value attributable to any
partial withdrawals taken after that date; less
(b) Total Purchase Payments Not Withdrawn, multiplied by
(c) the applicable Benefit Percentage from the table below based on
the Owner's Issue Age.
We calculate Total Purchase Payments Not Withdrawn by applying any partial
withdrawals first against Earnings and then against remaining Purchase
Payments.
BENEFIT PERCENTAGE
AGE PERCENTAGE
Ages 69 or younger 40%
Ages 70 - 79 25%
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Ages 80 and above 0%
If the Owner is a natural person and you change the Owner to someone other than
your spouse during the Accumulation Period, the Additional Death Benefit Amount
will be:
Before the Contract Anniversary immediately preceding the new Owner's 81st
birthday:
a) the Death Benefit Amount payable under the Contract; less
b) total Purchase Payments not withdrawn; multiplied by
c) The applicable Benefit Percentage from the table above based on
the new Owner's age as of the effective date of the change of
Owner.
On or after the Contract Anniversary immediately preceding the new Owner's
81st birthday:
a) the Death Benefit Amount on the Contract Anniversary immediately
preceding the new Owner's 81st birthday, increased by any Purchase
Payments made after that date and reduced proportionately by the
percentage reduction in Contract Value attributable to any partial
withdrawals taken after that date; less
b) Total Purchase Payments Not Withdrawn, multiplied by
c) the applicable Benefit Percentage from the table above based on
the new Owner's age as of the effective date of the change of
Owner.
For purposes of calculating Total Purchase Payments Not Withdrawn, we will
treat the Contract Value as of the effective date of the change of Owner as
a Purchase Payment and apply any subsequent partial withdrawals first
against subsequent? Earnings and then against Purchase Payments.
If the Contract is continued under the Spousal Continuation During Accumulation
Period option and the spouse chooses to continue the Additional Death Benefit
provisions, the Additional Death Benefit Amount will be:
Before the Contract Anniversary immediately preceding the continuing
spouse's 81st birthday:
a) the Death Benefit Amount payable under the Contract; less
b) Total Purchase Payments Not Withdrawn; multiplied by
c) the applicable Benefit Percentage from the table above based on
the deceased Owner's Issue Age.
On or after the Contract Anniversary immediately preceding the continuing
spouse's 81st birthday:
a) the Death Benefit Amount on the Contract Anniversary immediately
preceding the continuing spouse's 81st birthday, increased by any
Purchase Payments made after that date and reduced proportionately
by the percentage reduction in Contract Value attributable to any
partial withdrawals taken after that date; less
b) Total Purchase Payments Not Withdrawn; multiplied by
c) the applicable Benefit Percentage from the table above based on
the deceased Owner's Issue Age.
The continuing spouse will be treated as the deceased Owner for purposes of
calculating
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Total Purchase Payments Not Withdrawn.
To compute the Percentage Reduction in Contract Value attributable to a partial
withdrawal we divide the dollar amount of the withdrawal plus any applicable
withdrawal charge by the Contract Value immediately preceding such withdrawal.
When we reduce the Death Benefit Amount on the Contract Anniversary immediately
preceding the Owner's 81st birthday proportionately by this Percentage Reduction
we multiply this amount by 1 minus the Percentage Reduction. For example, if
this amount was $ and you took a partial withdrawal of $ and
the withdrawal charge was $ your Percentage Reduction would be ($
+ $ )/$ or %. The reduced amount would be $ ($
* (1- %)).
The Additional Death Benefit Amount is determined as of the end of the Business
Day on which we have received Notice of both due proof of death and an
acceptable election for the payment method. It will be treated as a Death
Benefit Amount payable under the Contract. Any excess of the Additional Death
Benefit Amount over the Contract Value will be allocated to each applicable
Subaccount (and/or other account option included by Rider) in the ratio that the
portion of the Contract Value in a Subaccount (and/or other account) bears to
the total Contract Value. If the death benefit is not paid immediately in a lump
sum, any portion of the Additional Death Benefit Amount in the Separate Account
remains in the Separate Account until distribution begins. From the time the
death benefit is determined until complete distribution is made, any amount in
the Separate Account will remain subject to investment risk. This risk is borne
by the Beneficiary.
OPTIONS FOR SPOUSAL CONTINUATION DURING THE ACCUMULATION PERIOD
If the Owner dies during the Accumulation Period and the Beneficiary who is his
or her spouse elects to continue the Contract in his or her name, the
Beneficiary has the option of:
1) Continuing the Additional Death Benefit provisions so that the
Additional Death Benefit is payable upon the death of the continuing
spouse, or
2) Discontinuing the Additional Death Benefit provisions and having the
Additional Death Benefit Amount that would have been payable at the
Owner's death added to the Contract Value. Any excess of the Additional
Death Benefit Amount over the Contract Value will be allocated to each
applicable Subaccount (and/or other account option included by Rider)
in the ratio that the portion of the Contract Value in such Subaccount
(and/or other account) bears to the total Contract Value.
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[The charge for this Rider is shown on the Contract Schedule.]
New England Life Insurance Company has this Rider signed by its President or
Vice President and Secretary.
_______________________ Secretary ___________________ President
<PAGE>
DEATH BENEFIT RIDER [- GREATER OF ANNUAL STEP-UP OR 5% ANNUAL INCREASE]
This Rider forms a part of the Contract to which it is attached and is effective
upon issuance. In case of a conflict with any provision in the Contract, the
provisions of this Rider will control. Your election of this Rider is
irrevocable and its provisions will remain part of the Contract until the
Contract terminates. This Rider amends the Contract as follows:
DEATH BENEFIT PROVISIONS
The following replaces the "Death Benefit Amount During The Accumulation Period"
section of the "Death Benefit Provisions:"
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD -
The Death Benefit Amount will be the greater of:
1) the Contract Value; or
2) the Enhanced Death Benefit, which is the greater of (a) or (b):
(a) Highest Anniversary Value: On the Issue Date we set this
-------------------------
value equal to your initial Purchase Payment. During each
Contract Year, we increase this value by any Purchase
Payments and reduce it proportionately by the Percentage
Reduction in Contract Value attributable to any partial
withdrawals. On every Contract Anniversary prior to the
Owner's (or Oldest Joint Owner's) 81st birthday, if the
Contract Value on the current Contract Anniversary is higher
we set this value equal to that higher amount.
(b) Annual Increase Amount: On the Issue Date, the Annual
----------------------
Increase Amount is equal to your initial Purchase Payment.
After that date, the Annual Increase Amount is equal to:
(i) the sum total of each Purchase Payment accumulated at
5% per year from the date such Purchase Payment is made
to the earlier of the calculation date for the Death
Benefit Amount or the Contract Anniversary immediately
prior to the Owner's 81st birthday; less
(ii) the sum total of each Withdrawal Adjustment accumulated
at 5% per year from the date of withdrawal to the
earlier of the calculation date for the Death Benefit
Amount or the Contract Anniversary immediately prior to
the Owner's 81/st/ birthday. The Withdrawal Adjustment
for each partial withdrawal is computed by multiplying
the Annual Increase Amount immediately prior to
<PAGE>
such withdrawal by the Percentage Reduction in Contract
Value attributable to that withdrawal.
If the Owner is a natural person and you change the Owner to someone other than
your spouse during the Accumulation Period, the Death Benefit Amount payable
when such new Owner dies will be the greater of:
1) the Contract Value; or
2) the Enhanced Death Benefit, which is the greater of (a) or (b):
(a) Highest Anniversary Value: This value is set equal to the
-------------------------
Contract Value as of the effective date of the Owner change.
During each subsequent Contract Year, we increase this value
by any Purchase Payments and reduce it proportionately by
the Percentage Reduction in Contract Value attributable to
any partial withdrawals. On every Contract Anniversary prior
to the new Owner's (or Oldest Joint Owner's) 81st birthday,
if the Contract Value on the current Contract Anniversary is
higher we set this value equal to that higher amount.
(b) Annual Increase Amount: The Annual Increase Amount is set to
----------------------
the Contract Value as of the effective date of the Owner
change. After that date, the Annual Increase Amount is equal
to:
(i) the sum total of each Purchase Payment made after the
effective date of the Owner change accumulated at 5%
per year from the date such Purchase Payment is made to
the earlier of the calculation date for the Death
Benefit Amount or the Contract Anniversary immediately
prior to the new Owner's (or Oldest Joint Owner's) 81st
birthday; less
(ii) the sum total of each Withdrawal Adjustment after the
effective date of the Owner change accumulated at 5%
per year from the date of withdrawal to the earlier of
the calculation date for the Death Benefit Amount or
the Contract Anniversary immediately prior to the new
Owner's (or Oldest Joint Owner's) 81/st/ birthday. The
Withdrawal Adjustment for each partial withdrawal is
computed by multiplying the value of the Annual
Increase Amount immediately prior to such withdrawal by
the Percentage Reduction in Contract Value attributable
to that withdrawal.
<PAGE>
If the Contract is continued under the Spousal Continuation During Accumulation
Period option, the Death Benefit Amount payable upon the continuing spouse's
death will be the greater of:
1) the Contract Value; or
2) the Enhanced Death Benefit, which is the greater of (a) or (b):
(a) Highest Anniversary Value: This value is set equal to the
-------------------------
Contract Value as of the date the spouse continues the
Contract. During each subsequent Contract Year, we increase
this value by any Purchase Payments and reduce it
proportionately by the Percentage Reduction in Contract
Value attributable to any partial withdrawals. On every
Contract Anniversary prior to the continuing spouse's 81st
birthday, if the Contract Value on the current Contract
Anniversary is higher we set this value equal to that higher
amount.
(b) Annual Increase Amount: The Annual Increase Amount is set to
----------------------
the Contract Value as of the date the spouse continues the
Contract? After that date, the Annual Increase Amount is
equal to:
(iii) the sum total of each Purchase Payment made after the
date the spouse continues the Contract accumulated at
5% per year from the date such Purchase Payment is
made to the earlier of the calculation date for the
Death Benefit Amount or the Contract Anniversary
immediately prior to the new Owner's (or Oldest Joint
Owner's) 81st birthday; less
(iv) the sum total of each Withdrawal Adjustment after the
date the spouse continues the Contract accumulated at
5% per year from the date of withdrawal to the
earlier of the calculation date for the Death Benefit
Amount or the Contract Anniversary immediately prior
to the new Owner's (or Oldest Joint Owner's) 81/st/
birthday. The Withdrawal Adjustment for each partial
withdrawal is computed by multiplying the value of
the Annual Increase Amount immediately prior to such
withdrawal by the Percentage Reduction in Contract
Value attributable to that withdrawal.
To compute the Percentage Reduction in Contract Value attributable to a partial
withdrawal we divide the dollar amount of the withdrawal plus any applicable
withdrawal charge by the Contract Value immediately preceding such withdrawal.
When we reduce the Highest Anniversary Value proportionately by this Percentage
Reduction
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we multiply the Highest Anniversary Value immediately preceding the withdrawal
by 1 minus the Percentage Reduction. For example, if your Contract Value was $
and you took a partial withdrawal of $ and the withdrawal charge was $ , your
Percentage Reduction would be ($ + $ )/$ or %. If your Highest Anniversary Value
before the partial withdrawal was $ , your Highest Anniversary Value after the
partial withdrawal would be $ ($ * (1- %)).
The Death Benefit Amount is determined as of the end of the Business Day on
which we have received Notice of both due proof of death and an acceptable
election for the payment method. Any excess of the Death Benefit Amount over the
Contract Value will be allocated to each applicable Subaccount (and/or other
account option included by Rider) in the ratio that the portion of the Contract
Value in a Subaccount (and/or other account) bears to the total Account Value.
If the death benefit is not paid immediately in a lump sum, any portion of the
Death Benefit Amount in the Separate Account remains in the Separate Account
until distribution begins. From the time the death benefit is determined until
complete distribution is made, any amount in the Separate Account will be
subject to investment risk. This risk is borne by the Beneficiary.
The following replaces the "Spousal Continuation During the Accumulation Period"
section of the "Death Benefit Provisions:"
SPOUSAL CONTINUATION DURING THE ACCUMULATION PERIOD -
If the Owner dies during the Accumulation Period and the Beneficiary is his or
her spouse, the Beneficiary may choose to continue the Contract in his or her
own name and exercise all the Owner's rights under the Contract. The Contract
Value under the continued Contract will be adjusted to an amount equal to the
Death Benefit Amount that would have been payable at the Owner's death. Any
excess of the Death Benefit Amount over the Contract Value will be allocated to
each applicable Subaccount (and/or other account included by Rider) in the ratio
that the portion of the Contract Value in such Subaccount (and/or other account)
bears to the total Account Value.
[The charge for this Rider is shown on the Contract Schedule.]
New England Life Insurance Company has caused this Rider to be signed by its
President or Vice President and Secretary.
_______________________ Secretary ___________________ President
<PAGE>
DEATH BENEFIT RIDER [- RETURN OF PURCHASE PAYMENTS]
This Rider forms a part of the Contract to which it is attached and is effective
upon issuance. In case of a conflict with any provision in the Contract, the
provisions of this Rider will control. Your election of this Rider is
irrevocable and its provisions will remain part of the Contract until the
Contract terminates. This Rider amends the Contract as follows:
DEATH BENEFIT PROVISIONS
The following replaces the "Death Benefit Amount During the Accumulation Period"
section of the "Death Benefit Provisions:"
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD -
The Death Benefit Amount will be the greater of:
(1) the Contract Value; or
(2) total Purchase Payments, reduced proportionately by the Percentage
Reduction in Contract Value attributable to each partial withdrawal.
If the Owner is a natural person and you change the Owner to someone other than
your spouse during the Accumulation Period, the Death Benefit Amount payable
when such new Owner dies will be the greater of:
(1) the Contract Value; or
(2) the Contract Value as of the effective date of the change of Owner,
increased by any Purchase Payments made and reduced proportionately by
the Percentage Reduction in Contract Value attributable to any partial
withdrawals taken after that date.
If the Contract is continued under the Spousal Continuation During Accumulation
Period option, the Death Benefit Amount payable when the continuing spouse dies
will be the greater of:
(1) the Contract Value; or
(2) the Contract Value as of the date the spouse continues the Contract,
increased by any Purchase Payments made after that date and reduced
proportionately
<PAGE>
by the Percentage Reduction in Contract Value attributable to any
partial withdrawals taken after that date.
To compute the Percentage Reduction in Contract Value attributable to a partial
withdrawal we divide the dollar amount of the withdrawal plus any applicable
withdrawal charges by the Contract Value immediately preceding such withdrawal.
When we reduce the Purchase Payments or Contract Value proportionately by this
Percentage Reduction we multiply the Purchase Payments or Contract Value
immediately preceding the withdrawal by 1 minus the Percentage Reduction. For
example, if your Contract Value was $ and you took a partial withdrawal of $ and
the applicable withdrawal charge was $, your Percentage Reduction would be ($
+ $ )/$ or % and the Contract Value would be proportionately reduced to $
($ *(1- %)) for purposes of the Death Benefit calculation.
The Death Benefit Amount is determined as of the end of the Business Day on
which we have received Notice of both due proof of death and an acceptable
election for the payment method. Any excess of the Death Benefit Amount over the
Contract Value will be allocated to each applicable Subaccount (and/or other
account option included by Rider) in the ratio that the portion of the Contract
Value in such Subaccount (and/or other account) bears to the total Contract
Value. If the death benefit is not paid immediately in a lump sum, any portion
of the Death Benefit Amount in the Separate Account remains in the Separate
Account until distribution begins. From the time the death benefit is determined
until complete distribution is made, any amount in the Separate Account will be
subject to investment risk. This risk is borne by the Beneficiary.
The following replaces the "Spousal Continuation During Accumulation Period"
section of the "Death Benefit Provisions:"
SPOUSAL CONTINUATION DURING ACCUMULATION PERIOD- If the Owner dies during the
Accumulation Period and the Beneficiary is his or her spouse, the Beneficiary
may choose to continue the Contract in his or her own name and exercise all the
Owner's rights under the Contract. The Contract Value under the continued
Contract will be adjusted to an amount equal to the Death Benefit Amount that
would have been payable at the Owner's death. Any excess of the Death Benefit
Amount over the Contract Value will be allocated to each applicable Subaccount
(and/or other account option included by Rider) in the ratio that the portion of
the Contract Value in a Subaccount (and/or other account) bears to the total
Contract Value.
[The charge for this Rider is shown on the Contract Schedule.]
New England Life Insurance Company has caused this Rider to be signed by its
President or Vice President and Secretary.
<PAGE>
_______________________ Secretary ___________________ President
<PAGE>
DEATH BENEFIT RIDER [- ANNUAL STEP-UP]
This Rider forms a part of the Contract to which it is attached and is effective
upon issuance. In case of a conflict with any provision in the Contract, the
provisions of this Rider will control. Your election of this Rider is
irrevocable and its provisions will remain part of the Contract until the
Contract terminates. This Rider amends the Contract as follows:
DEATH BENEFIT PROVISIONS
The following replaces the "Death Benefit Amount During The Accumulation Period"
section of the "Death Benefit Provisions:"
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD - The Death Benefit Amount
will be the greater:
(a) the Contract Value; or
(b) Highest Anniversary Value: On the Issue Date we set this
-------------------------
value equal to your initial Purchase Payment. During each
Contract Year, we increase this value by any Purchase
Payments and reduce it proportionately by the Percentage
Reduction in Contract Value attributable to any partial
withdrawals. On every Contract Anniversary prior to the
Owner's (or Oldest Joint Owner's) 81st birthday, if the
Contract Value on the current Contract Anniversary is
higher we set this value equal to that higher amount.
If the Owner is a natural person and you change the Owner to someone other than
your spouse during the Accumulation Period, the Death Benefit Amount payable
when such new Owner dies will be the greater of
(a) the Contract Value; or
(b) Highest Anniversary Value: This value is set equal to the
-------------------------
Contract Value as of the effective date of the Owner
changer. During each subsequent Contract Year, we increase
this value by any Purchase Payments and reduce it
proportionately by the Percentage Reduction in Contract
Value attributable to any partial withdrawals. On every
Contract Anniversary prior to the new Owner's (or Oldest
Joint Owner's) 81st birthday, if the Contract Value on the
current Contract Anniversary is higher we set this value
equal to that higher amount.
If the Contract is continued under the Spousal Continuation During Accumulation
Period option the Death Benefit Amount payable upon the continuing spouse's
death will be the greater of:
<PAGE>
(a) the Contract Value; or
(b) Highest Anniversary Value: We set this value equal to
-------------------------
the Contract Value as of the date the spouse continues the
Contract. During each subsequent Contract Year, we increase
this value by any Purchase Payments and reduce it
proportionately by the Percentage Reduction in Contract
Value attributable to any partial withdrawals. On every
Contract Anniversary prior to the continuing spouse's 81st
birthday, if the Contract Value on the current Contract
Anniversary is higher we set this value equal to that higher
amount.
To compute the Percentage Reduction in Contract Value attributable to a partial
withdrawal we divide the dollar amount of the withdrawal plus any applicable
withdrawal charge by the Contract Value immediately preceding such withdrawal.
When we reduce the Highest Anniversary Value proportionately by this Percentage
Reduction we multiply the Highest Anniversary Value immediately preceding the
withdrawal by 1 minus the Percentage Reduction. For example, if your Contract
Value was $ and you took a partial withdrawal of $ and the withdrawal charge
was $ , your Percentage Reduction would be ($ + $ )/$ or %. If your Highest
Anniversary Value before the partial withdrawal was $ , your Highest
Anniversary Value after the partial withdrawal would be $ ($ * (1- %)).
The Death Benefit Amount is determined as of the end of the Business Day on
which we have received Notice of both due proof of death and an acceptable
election for the payment method. Any excess of the Death Benefit Amount over the
Contract Value will be allocated to each applicable Subaccount (and/or other
account option included by Rider) in the ratio that the portion of the Contract
Value in such Subaccount (and/or other account) bears to the total Contract
Value. If the death benefit is not paid immediately in a lump sum, any portion
of the Death Benefit Amount in the Separate Account remains in the Separate
Account until distribution begins. From the time the death benefit is determined
until complete distribution is made, any amount in the Separate Account will be
subject to investment risk. This risk is borne by the Beneficiary.
The following replaces the "Spousal Continuation During the Accumulation Period"
section of the "Death Benefit Provisions:"
SPOUSAL CONTINUATION DURING THE ACCUMULATION PERIOD -
If the Owner dies during the Accumulation Period and the Beneficiary is his or
her spouse, the Beneficiary may choose to continue the Contract in his or her
own name and exercise all the Owner's rights under the Contract. The Contract
Value under the continued Contract will be adjusted to an amount equal to the
Death Benefit Amount that would have been payable at the Owner's death. Any
excess of the Death Benefit Amount over the Contract Value will be
<PAGE>
allocated to each applicable Subaccount (and/or other account option included by
Rider) in the ratio that the portion of the Contract Value in a Subaccount
(and/or other account) bears to the total Contract Value.
[The charge for this Rider is shown on the Contract Schedule.]
New England Life Insurance Company has caused this Rider to be signed by its
President or Vice President and Secretary.
_______________________ Secretary ___________________ President
<PAGE>
GUARANTEED MINIMUM INCOME BENEFIT RIDER [- LIVING BENEFIT]
This Rider forms a part of the Contract to which it is attached and is effective
upon issuance. In the case of a conflict with any provision of the Contract, the
provisions of this Rider will control. Your election of this Rider is
irrevocable and its provisions will remain part of the Contract until terminated
in accordance with the provisions below. This Rider amends the Contract as
follows:
The following is added to the "Annuity Provisions" section:
GUARANTEED MINIMUM INCOME BENEFIT
We guarantee you a that your minimum monthly Fixed Income Payment equal will not
be less than to the Guaranteed Minimum Income Benefit (GMIB) Payment, provided
you meet the eligibility requirements below. If a higher Fixed Income Payment
results from applying your total Adjusted Contract Value to the then current
Fixed Annuity Option Table applicable to this class of contracts, we will pay
you the greater payment.
At the Annuity Date, the GMIB Payment will be determined by applying the Income
Base to the GMIB Annuity Table.
INCOME BASE
The Income Base is the greater of (a) or (b):
(a) Highest Net Anniversary Value: On the Issue Date we set this value
-----------------------------
equal to your initial Purchase Payment. During each Contract Year, we
increase this value by any Purchase Payments and reduce it
proportionately by the Percentage Reduction in Contract Value
attributable to any partial withdrawals. On every Contract Anniversary
prior to the Owner's (or Oldest Joint Owner's) 81st birthday, if the
Contract Value on the current Contract Anniversary is higher we set
this value equal to that higher amount.
(b) Annual Increase Amount: On the Issue Date we set this amount equal to
----------------------
your initial Purchase Payment. After the Issue Date, this amount will
equal:
(i) The sum total of each Purchase Payment accumulated at 6% per
year from the date the Purchase Payment is made to the earlier of
the Annuity Date or the Contract Anniversary immediately
preceding the Owner's (or Oldest Joint Owner's) 81/st/ birthday,
less
(ii) The sum total of each Withdrawal Adjustment accumulated at
6% per year from the date of withdrawal (except as indicated
below) to the earlier of the Annuity Date or the Contract
Anniversary immediately preceding
<PAGE>
the Owner's (or Oldest Joint Owner's) 81/st/ birthday.
The Withdrawal Adjustment for each partial withdrawal in a
Contract Year is computed by multiplying the Annual Increase
Amount immediately prior to the withdrawal by the Percentage
Reduction in Contract Value attributable to that partial
withdrawal. However, if total partial withdrawals in a Contract
Year are 6% or less of the Annual Increase Amount on the previous
Contract Anniversary, the total Withdrawal Adjustments for that
Contract Year will be set equal to the dollar amount of total
partial withdrawals in that Contract Year and treated as a single
withdrawal at the end of that Contract Year.
To compute the Percentage Reduction in Contract Value attributable to a partial
withdrawal we divide the dollar amount of the withdrawal by the Contract Value
immediately preceding such withdrawal.
When we reduce the Highest Net Anniversary Value proportionately by this
Percentage Reduction we multiply the Highest Net Anniversary Value immediately
preceding the withdrawal by 1 minus the Percentage Reduction. For example, if
your Contract Value was $100 and you took a partial withdrawal of $25, your
Percentage Reduction would be $25/$100 or 25%. If your Highest Net Anniversary
Value before the partial withdrawal was $200, your Highest Net Anniversary Value
after the partial withdrawal would be $150 ($200 * (1-25%)).
In calculating the GMIB, any Withdrawal Charges that would have applied if you
had made a full cash withdrawal of your Contract Value will be deducted from the
Income Base. We reserve the right to reduce the Income Base for any Premium and
Other Taxes that may apply.
The Income Base is only used for purposes of calculating the GMIB Payment.
GMIB ANNUITY TABLE
The GMIB Annuity Table is calculated based the Annuity 2000 Mortality Table with
a 7-year age setback with interest of 2.5% per year. The rate applied will
depend upon the Annuity Option elected and the Attained Age and sex of the
Annuitant and Joint Annuitant, if applicable.
ELIGIBILITY REQUIREMENTS FOR THE GMIB
You are only eligible to receive GMIB payments if:
(1) The Owner and the Annuitant are the same and the Owner is a natural
person. If the Owner is a non-natural person then the Annuitant will
be considered the Owner for GMIB purposes. If Joint Owners are named,
the age of the oldest will be used to
<PAGE>
determine the Income Base and GMIB Payment.
(2) You choose to apply your total Adjusted Contract Value to Fixed Income
Payments for one of the following Annuity Options:
a) Life Annuity with 10 Years of Annuity Payments Guaranteed. For
annuitization ages over 79, the guaranteed component of the life
annuity is reduced as follows:
------------------------------------------
Age at Annuitization Guarantee Period
------------------------------------------
80 9
------------------------------------------
81 8
------------------------------------------
82 7
------------------------------------------
83 6
------------------------------------------
84 and 85 5
------------------------------------------
b) Joint and Last Survivor Annuity with 10 Years of Annuity Payments
Guaranteed
(3) You choose an Annuity Date that is within
a) 30 days following any Contract Anniversary after your 10/th/
Contract Anniversary, but
b) no more than 30 days after the Contract Anniversary following
your 85/th/ birthday.
GMIB RIDER CHARGE
The GMIB Rider charges shown on the Contract Schedule are a percentage of the
Income Base at the time the Rider charge is assessed. The charge is assessed at
each Contract Anniversary, up to and including the anniversary on or immediately
preceding the date the GMIB is applied. Upon full withdrawal or annuitization, a
prorata portion of the Rider charge will be assessed.
The Rider charge will be treated as a withdrawal under the Contract and result
in the cancellation of Accumulation Units from each applicable Subaccount
(and/or reduce any other accounts included by Rider) in the ratio the portion of
the Contract Value in such Subaccount (and/or other account) bears to the total
Contract Value.
GMIB TERMINATION PROVISIONS
The GMIB Rider Provisions will terminate upon the earliest of:
(a) The 30/th/ day following the Contract Anniversary immediately after your
85/th/ birthday;
<PAGE>
(b) The date you make a full withdrawal of your Account Value;
(c) Death of the Owner, or death of the Annuitant if a non-natural person owns
the Contract; or Change of the Owner or Joint Owner, for any reason. New
England Life Insurance Company has caused this Rider to be signed by its
President or Vice President and Secretary.
_______________________ Secretary ___________________ President
<PAGE>
PURCHASE PAYMENT CREDIT RIDER
This Rider forms a part of the Contract to which it is attached and is effective
as of the Issue Date. In the case of a conflict with any provision of the
Contract, the provisions of this Rider will control. Your election of this Rider
is irrevocable and its provisions will remain part of the Contract until the
Contract terminates. This Rider amends the Contract as follows:
PURCHASE PAYMENTS PROVISIONS
The following is added to the "Purchase Payments Provisions:"
PURCHASE PAYMENT CREDITS - Before your 81/st/ birthday, each Purchase Payment
you make during the first Contract Year will be credited with the Purchase
Payment Credit. The amount of the Purchase Payment Credit is described on the
Contract Schedule.
If you exercise the "Free Look" provision of the Contract, we will return your
Contract Value less the Adjusted Purchase Payment Credit. The Adjusted Purchase
Payment Credit is equal to the lesser of:
1. The portion of the Contract Value that is attributable to any Purchase
Payment Credit, or
2. The total of Purchase Payment Credit(s).
The Purchase Payment Credit will be allocated to the Contract in the same
proportion that the applicable Purchase Payment is allocated.
All Purchase Payment Credits will be treated as Earnings under the Contract.
New England Life Insurance Company has caused this Rider to be signed by its
President or Vice President and Secretary.
_______________________ Secretary ___________________ President
