ANNUITY TABLES Sample Clauses
ANNUITY TABLES. The amounts set forth in the Annuity Tables for Annuity Options 1 through 4 and 8 depend on the sex (unless unisex rates apply) and age of the Annuitant or the Joint Annuitants on the Annuity Start Date. The Annuity Tables are modified to reflect (1) the Assumed Interest Rate for Variable Annuity Payments; or (2) the rate of interest in effect on the Annuity Start Date for Fixed Annuity Payments. The rate of interest for Fixed Annuity Payments is guaranteed not to be less than the Guaranteed Rate set forth on page 3. The Annuity Tables contain the amount of monthly Annuity Payment per $1,000 of Annuity Start Amount. The Annuity Tables state values for the exact ages shown. The values will be interpolated based on the exact age(s) of the Annuitant or Joint Annuitants on the Annuity Start Date. The basis of the Annuity Tables for Options 1 through 4 and 8 and the Assumed Interest Rate are set forth on page 3. The Annuity Table for Option 7 is determined without reference to the age or sex of the Annuitant and is based upon the Assumed Interest Rate. Annuity Payments for Options 5 and 6 are computed without reference to the Annuity Tables. The Annuity Tables are used in accordance with generally accepted actuarial principles. ANNUITY PAYMENTS No Annuity Option can be selected that requires SBL to make Annuity Payments of less than $100.00. Each Annuity Option allows for making Annuity Payments annually, semiannually, quarterly or monthly. Annuity Payments due on a date other than a Valuation Date, are paid as of the end of the next following Valuation Date. ANNUITY UNITS On the Annuity Start Date, the amount of the first Variable Annuity Payment is divided by the Annuity Unit Value as of that date to determine the number of Annuity Units to be used in calculating subsequent Annuity Payments. If the Annuity Start Amount was allocated to more than one Subaccount, the first Variable Annuity Payment will be allocated to each Subaccount in the percentage corresponding to the allocation of Annuity Start Amount. The number of Annuity Units for each Subaccount is then found by dividing the amount of the first Variable Annuity Payment allocated to that Subaccount by the Annuity Unit Value for the Subaccount on the Annuity Start Date. The number of Annuity Units for the Subaccount then remains constant, unless a Transfer of Annuity Units is made. After the first Variable Annuity Payment, the dollar amount of each subsequent Annuity Payment is equal to the sum of the pa...
ANNUITY TABLES. The rates in Tables 1 and 2 below are applied to the Account Value on the Annuity Date to compute the minimum amount of the annuity payment for the payout options described on the preceding page. Table 1 is used to compute the minimum annuity payment under Option 1 (Payments for a Period Certain). Table 2 is used to compute the minimum initial annuity payment under Option 2 (Payments for Life with a Certain Period), assuming a 10 year Period Certain. The rates used in each table are applied per $1,000 of Account Value, as of the Annuity Date. We used an interest rate of 1.0% per year in preparing Table 1, and an interest rate of 2.0% per year in preparing Table 2. Table 2 assumes 120 monthly payments certain. The annuity payments in Table 2 are based on the Annuitant's "adjusted age" and sex. The adjusted age is the Annuitant's age as of the Annuitant's last birthday prior to the date on which the first payment is due, adjusted as shown in the "Translation of Adjusted Age" table below. When we computed the amounts shown in Table 2, we used the Annuity 2000 valuation mortality table, with four-year age setbacks and projected mortality improvement factors (modified Scale G) projected from the age at annuitization to the age at which the probability of survival is needed in the calculation of the annuity payment. TRANSLATION OF ADJUSTED AGE Calendar Year in Which First Calendar Year in Which Payment Is Due Adjusted Age First Payment Is Due Adjusted Age ---------------------------- ------------------ ---------------------- ------------------ 2010 through 2019 Actual Age minus 1 2060 through 2069 Actual Age minus 6 2020 through 2029 Actual Age minus 2 2070 through 2079 Actual Age minus 7 2030 through 2039 Actual Age minus 3 2080 through 2089 Actual Age minus 8 2040 through 2049 Actual Age minus 4 2090 through 2099 Actual Age minus 9 2050 through 2059 Actual Age minus 5 AMOUNT OF MONTHLY PAYMENT FOR EACH $1,000 APPLIED TABLE 1 -PAYMENTS FOR A PERIOD CERTAIN Number of Monthly Number of Monthly Number of Monthly Number of Monthly Years Payment Years Payment Years Payment Years Payment --------- ------- --------- ------- --------- ------- --------- ------- 1 $83.71 8 $10.83 14 $6.37 20 $4.59 2 42.07 9 9.68 15 5.98 21 4.40 3 28.18 10 8.75 16 5.63 22 4.22 4 21.24 11 7.99 17 5.33 23 4.05 5 17.08 12 7.36 18 5.05 24 3.90 6 14.30 13 6.83 19 4.81 25 3.76 7 12.32 P-BLX/IND(2/10)-NY Table 2 - Payments for Life with a 10 Year Period Certain Adjusted Adjusted Adjusted Age Mal...
ANNUITY TABLES. 1 1. Definitions ..................................................................................................................................... 3
ANNUITY TABLES. The amounts set forth in the Annuity Tables for Annuity Options 1 through 4 and 6 depend on the age of the Annuitant or the Joint Annuitants on the Annuity Start Date. The Annuity Tables are modified to reflect:
ANNUITY TABLES. The Annuity Tables show the guaranteed minimum amount of monthly Annuity Payment for each $1,000 of Accumulated Value for each Fixed Annuity Option. We may, at the time of election of a Fixed Annuity Payment Option, offer more favorable rates in lieu of the guaranteed rates shown in the Annuity Tables. The amount of each Annuity Payment will depend on the Annuitant’s sex and age on the birthday nearest to the date the first Annuity Payment is due. We base the tables for the first four Options on the 1983 Table “A” Mortality Table projected for mortality improvement to the year 2000 using Projection Scale G and an interest rate of 4% a year. The table for Option 5 is based on an interest rate of 4% a year. On request we will furnish the amount of monthly Annuity Payment per $1,000 applied for any ages not shown. We will treat any Payee who is over age 85 at the date Annuity Payments begin as being age 85 on that date.
ANNUITY TABLES. TABLE A SETTLEMENT OPTIONS ONE, TWO, AND THREE MINIMUM INITIAL MONTHLY INSTALLMENTS PER $1,000 OF AMOUNT APPLIED
ANNUITY TABLES. The rates in Tables 1 and 2 below are applied to the Account Value to compute the minimum amount of the annuity payment for fixed payout options. Table 1 is used to compute the minimum annuity payment under Option 1 (Payment for a Certain Period Option). Table 2 is used to compute the minimum initial annuity payment under Option 2 (Life Income Annuity Option with 120 Months Certain Period). The rates used in each table are applied per $1,000 of, Account Value, as of the Annuity Date. If there is any remaining contingent deferred sales charge applicable as of the Annuity Date, we may restrict the availability of certain Annuity Payout Options we offer. We used an interest rate of [1.5]% per year in preparing Table 1 and an interest rate of [3]% per year in preparing Table 2. Table 2 assumes 120 payments certain. The annuity payments in Table 2 are based on the Annuitant's "adjusted age" and sex. The adjusted age is the Annuitant's age as of the Annuitant's last birthday prior to the date on which the first payment is due, adjusted as shown in the "Translation of Adjusted Age" table below. When we computed the amounts shown in Table 2, we used the Annuity 2000 valuation mortality table, with two-year age setbacks and projected mortality improvement factors (modified Scale G) projected from the age at annuitization to the age at which the probability of survival is needed in the calculation of the annuity payment. ---------------------------------------------------------------------------------------------------------------- Translation of Adjusted Age ---------------------------------------------------------------------------------------------------------------- Calendar Year in Calendar Year in Which First Which First Payment Is Due Adjusted Age Payment Is Due Adjusted Age ---------------------------------------------------------------------------------------------------------------- Prior to 2010 Actual Age 2050 through 2059 Actual Age minus 5 ---------------------------------------------------------------------------------------------------------------- 2010 through 2019 Actual Age minus 1 2060 through 2069 Actual Age minus 6 ---------------------------------------------------------------------------------------------------------------- 2020 through 2029 Actual Age minus 2 2070 through 2079 Actual Age minus 7 ---------------------------------------------------------------------------------------------------------------- 2030 through 2039 Actual Age minus ...
ANNUITY TABLES. The rates in Tables 1 and 2 below are applied to the Account Value on the Annuity Date to compute the minimum amount of the annuity payment for the payout options described on the preceding page. Table 1 is used to compute the minimum annuity payment under Option 1 (Payments for a Period Certain). Table 2 is used to compute the minimum initial annuity payment under Option 2 (Payments for Life with a Period Certain), assuming a 10 year Period Certain. The rates used in each table are applied per $1,000 of Account Value, as of the Annuity Date. We used an interest rate of 1.0% per year in preparing Table 1, and an interest rate of 2.0% per year in preparing Table 2. Table 2 assumes 120 monthly payments certain. The annuity payments in Table 2 are based on the Annuitant's "adjusted age" and sex. The adjusted age is the Annuitant's age as of the Annuitant's last birthday prior to the date on which the first payment is due, adjusted as shown in the "Translation of Adjusted Age" table below. When we computed the amounts shown in Table 2, we used the Annuity 2000 valuation mortality table, with four-year age setbacks and projected mortality improvement factors (modified Scale G) projected from the age at annuitization to the age at which the probability of survival is needed in the calculation of the annuity payment.
ANNUITY TABLES. The following tables show the amount required to purchase a first monthly payment of $1.00. The tables are calculated using an Assumed Investment Rate of 3 1/2% per year for Variable Annuities and a mortality table constructed from the 1983 Table a. The amount applied to effect an annuity will be the Accumulation Value on the tenth date preceding the date the first payment is due. The amount of each payment will depend upon the Annuitant's age at the birthday nearest to the time the first payment is due. Options 1, 2 and 3 -- Single Life Annuities Monthly Payments Guaranteed -------------------------------------------------- Age None 60 120 180 Cash Refund 50 $233.36 $233.71 $234.82 $236.75 $240.70 51 229.87 230.25 231.45 233.54 237.65 52 226.30 226.72 228.01 230.29 234.54 53 222.65 223.10 224.51 226.98 231.36 54 218.93 219.41 220.93 223.62 228.12 55 215.11 215.64 217.28 220.22 224.82 56 211.21 211.78 213.57 216.77 221.45 57 207.23 207.84 209.79 213.28 218.02 58 203.15 203.81 205.94 209.76 214.53 59 198.98 199.70 202.03 206.21 210.96 60 194.73 195.51 198.06 202.64 207.33 61 190.38 191.24 194.04 199.05 203.63 62 185.95 186.90 189.97 195.47 199.85 63 181.45 182.50 185.86 191.89 195.99 64 176.88 178.03 181.73 188.35 192.18 65 172.25 173.52 177.57 184.84 188.25 66 167.56 168.95 173.41 181.39 184.24 67 162.81 164.34 169.24 178.00 180.31 68 158.01 159.70 165.09 174.70 176.25 69 153.16 155.01 160.95 171.49 172.11 70 148.26 150.30 156.85 168.40 168.10 71 143.31 145.57 152.79 165.44 163.94 72 138.33 140.83 148.81 162.62 159.70 73 133.32 136.10 144.91 159.98 155.66 74 128.31 131.39 141.11 157.51 151.45 75 123.30 126.73 137.44 155.22 147.15 Option 4 -- Joint and Last Survivor Annuity Younxxx Xxxxxxxxx: Number of Years Younger Than Older Annuitant Age of Older ----------------------------------------------------------------------------------------------- Annuitant 0 1 2 3 4 5 6 7 8 9 10 50 $256.95 $258.82 $260.70 $262.61 $264.53 $266.46 $268.39 $270.33 $272.26 $274.19 $276.10 51 253.87 255.79 257.73 259.69 261.67 263.66 265.66 267.66 269.65 271.64 273.61 52 250.69 252.67 254.67 256.69 258.73 260.78 262.84 264.90 266.96 269.00 271.04 53 247.42 249.45 251.52 253.60 255.70 257.81 259.93 262.06 264.18 266.29 268.39 54 244.06 246.15 248.27 250.41 252.58 254.75 256.94 259.13 261.31 263.49 265.66 55 240.59 242.75 244.93 247.14 249.36 251.60 253.85 256.11 258.36 260.61 262.85 56 237.03 239.25 241.49 243.76 246.05 248.36 250.68 253.00 255.32 257.64 259.94 57 233.37 235.64 237....
ANNUITY TABLES. Annuity Table A through C show the guaranteed minimum amount of monthly annuity Payment per $1,000 of Annuity Start Amount for Annuity Options 1 through 4, 7 and 8 that applied to the first Variable Annuity Payment and to each payment for Fixed Annuity Payment. The amount of each Annuity Payment for Annuity Options 1 through 4 and 8 will depend on the Annuitant's age on the Annuity Start Date. Table A and B assume 1900 as the year of birth of the Annuity To use Tables A and B for an Annuitant born after 1900, the actual age is reduced by 0.1 (one-tenth) of a year for each year the year of birth exceeds 1900. For an Annuitant with a birth year prior to 1900, the actual age is increased in a like manner. The actual age (in completed months) reduced or increased becomes the "adjusted age of the Annuitant." The guaranteed payout rate is then found by interpolating the Annuitant's adjusted age between the ages shown in Tables A and B. Tables A and B are based on the 1983 Table "A" mortality table and an interest rate of 3.5% per year. On request the company will furnish the amount of monthly annuity Payment per $1,000 applied for any ages not shown. For annuity Options 5 through 7, annuity rates based on age are not used to calculate annuity payment. Annuity Payments for Options 5 and 6 are computed without reference to the Annuity Tables. ANNUITY PAYMENTS The Annuity Option is shown on page 3. Owner may choose any form of Annuity Option that is allowed by the Company. The Owner may choose an Annuity Option by written request. This request must be Received by the Company at least 30 days prior to the Annuity Start Date. Several Annuity Options are listed on pages 19 and 20. No Annuity Option can be selected that requires the Company to make periodic payments of less than $50.00. If no Annuity Option is chosen prior to the Annuity Start Date, the Company will use Life with 10-Year Fixed Period Option. Each Annuity Option allows for making Annuity Payments annually, semiannually, quarterly or monthly. ANNUITY OPTIONS (CONTINUED) OPTION 5