Common use of ANNUITY TABLES Clause in Contracts

ANNUITY TABLES. 24, 25 AMENDMENTS OR ENDORSEMENTS, if any -------------------------------------------------------------------------------- VARIABLE ANNUITY CONTRACT SPECIFICATIONS -------------------------------------------------------------------------------- OWNER: ABC Employer CONTRACT NUMBER: Specimen CONTRACT DATE: 6-30-1996 PLAN: Qualified ASSIGNMENT: This Contract may not be assigned. See Assignment Provision of this Contract. -------------------------------------------------------------------------------- INITIAL PURCHASE PAYMENT.................... $500 ($25 pursuant to an Automatic Investment Program) MINIMUM SUBSEQUENT PURCHASE PAYMENTS........ $500 ($25 pursuant to an Automatic Investment Program) MINIMUM SYSTEMATIC WITHDRAWAL............... $100 MAXIMUM PARTICIPANT AGE..................... 80 MORTALITY AND EXPENSE RISK CHARGE........... 1.00% Annually ANNUAL ADMINISTRATIVE FEE................... None WITHDRAWAL CHARGES Purchase Payment Year..................... 1 2 3 4 5 6 + Withdrawal Charge......................... 5% 5% 5% 5% 5% 0% FREE WITHDRAWAL PERCENTAGE....................... 10% MINIMUM GUARANTEED RATE.......................... 3% SEPARATE ACCOUNT................................. Variflex SEPARATE ACCOUNT SERIES: 1 Money Market Series 2 High Grade Income Series 3 High Yield Series 4 Global Aggressive Bond Series 5 Growth-income Series 6 Equity Income Series 7 Managed Asset Allocation Series 8 Specialized Asset Allocation Series 9 Growth Series 10 Value Series 11 Worldwide Equity Series 12 Social Awareness Series 13 Emerging Growth Series 14 Small Cap Series METHOD FOR DEDUCTIONS: Deductions for Premium Taxes and any unallocated partial Withdrawals, including Systematic Withdrawals, will be made sequentially from the Contract Value in the order of the Series listed above and then from the DCA Plus Account. The General Account is the last Account charged. The value of each Account will be depleted before the next is charged. * The Participant may select the Annuity Commencement Date and the Annuity Option. If no Annuity Commencement Date or Annuity Option is selected by the Participant, they will be assigned automatically.

ANNUITY TABLES. 24The 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), 25 AMENDMENTS OR ENDORSEMENTSassuming a 10 year Period Certain. The rates used in each table are applied per $1,000 of Account Value, if any -------------------------------------------------------------------------------- VARIABLE ANNUITY CONTRACT SPECIFICATIONS -------------------------------------------------------------------------------- OWNER: ABC Employer CONTRACT NUMBER: Specimen CONTRACT DATE: 6as 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-30-1996 PLAN: Qualified ASSIGNMENT: This Contract may not be assigned. See Assignment Provision of this Contract. -------------------------------------------------------------------------------- INITIAL PURCHASE PAYMENT.................... $500 year age setbacks and projected mortality improvement factors ($25 pursuant to an Automatic Investment Programmodified Scale G) MINIMUM SUBSEQUENT PURCHASE PAYMENTS........ $500 ($25 pursuant to an Automatic Investment Program) MINIMUM SYSTEMATIC WITHDRAWAL............... $100 MAXIMUM PARTICIPANT AGE..................... 80 MORTALITY AND EXPENSE RISK CHARGE........... 1.00% Annually ANNUAL ADMINISTRATIVE FEE................... None WITHDRAWAL CHARGES Purchase Payment Year..................... 1 2 3 4 5 6 + Withdrawal Charge......................... 5% 5% 5% 5% 5% 0% FREE WITHDRAWAL PERCENTAGE....................... 10% MINIMUM GUARANTEED RATE.......................... 3% SEPARATE ACCOUNT................................. Variflex SEPARATE ACCOUNT SERIES: 1 Money Market Series 2 High Grade Income Series 3 High Yield Series 4 Global Aggressive Bond Series 5 Growth-income Series 6 Equity Income Series 7 Managed Asset Allocation Series 8 Specialized Asset Allocation Series 9 Growth Series 10 Value Series 11 Worldwide Equity Series 12 Social Awareness Series 13 Emerging Growth Series 14 Small Cap Series METHOD FOR DEDUCTIONS: Deductions for Premium Taxes and any unallocated partial Withdrawals, including Systematic Withdrawals, will be made sequentially projected from the Contract Value age at annuitization to the age at which the probability of survival is needed in the order calculation of the Series listed above and then from the DCA Plus Accountannuity payment. The General Account is the last Account charged. The value Translation of each Account will be depleted before the next is charged. * The Participant may select the Annuity Commencement Date and the Annuity Option. If no Annuity Commencement Date or Annuity Option is selected by the Participant, they will be assigned automatically.Adjusted Age -------------------------------------------------------------------------------------- Calendar Year in Which Calendar Year in Which First 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 Monthly Number Monthly Number of Monthly Number of Monthly of Years Payment of 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-BBND(2/13)-NY 17

ANNUITY TABLES. 24The 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, 25 AMENDMENTS OR ENDORSEMENTSAccount Value, if as of the Annuity Date. If there is any -------------------------------------------------------------------------------- VARIABLE ANNUITY CONTRACT SPECIFICATIONS -------------------------------------------------------------------------------- OWNER: ABC Employer CONTRACT NUMBER: Specimen CONTRACT DATE: 6-30-1996 PLAN: Qualified ASSIGNMENT: This Contract remaining contingent deferred sales charge applicable as of the Annuity Date, we may not be assignedrestrict the availability of certain Annuity Payout Options we offer. See Assignment Provision We used an interest rate of this Contract. -------------------------------------------------------------------------------- INITIAL PURCHASE PAYMENT.................... $500 ($25 pursuant to 1.5% per year in preparing Table 1 and an Automatic Investment Program) MINIMUM SUBSEQUENT PURCHASE PAYMENTS........ $500 ($25 pursuant to an Automatic Investment Program) MINIMUM SYSTEMATIC WITHDRAWAL............... $100 MAXIMUM PARTICIPANT AGE..................... 80 MORTALITY AND EXPENSE RISK CHARGE........... 1.00% Annually ANNUAL ADMINISTRATIVE FEE................... None WITHDRAWAL CHARGES Purchase Payment Year..................... 1 2 3 4 5 6 + Withdrawal Charge......................... 5% 5% 5% 5% 5% 0% FREE WITHDRAWAL PERCENTAGE....................... 10% MINIMUM GUARANTEED RATE.......................... interest rate of 3% SEPARATE ACCOUNT................................. Variflex SEPARATE ACCOUNT SERIES: 1 Money Market Series per year in preparing Table 2. Table 2 High Grade Income Series 3 High Yield Series 4 Global Aggressive Bond Series 5 Growthassumes 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-income Series 6 Equity Income Series 7 Managed Asset Allocation Series 8 Specialized Asset Allocation Series 9 Growth Series 10 Value Series 11 Worldwide Equity Series 12 Social Awareness Series 13 Emerging Growth Series 14 Small Cap Series METHOD FOR DEDUCTIONS: Deductions for Premium Taxes year age setbacks and any unallocated partial Withdrawals, including Systematic Withdrawals, will be made sequentially projected mortality improvement factors (modified Scale G) projected from the Contract Value age at annuitization to the age at which the probability of survival is needed in the order calculation of the Series listed above and then from the DCA Plus Accountannuity payment. The General Account is the last Account charged. The value ------------------------------------------------------------------------------------------------------------------- Translation of each Account will be depleted before the next is charged. * The Participant may select the Annuity Commencement Date and the Annuity Option. If no Annuity Commencement Date or Annuity Adjusted Age ------------------------------------------------------------------------------------------------------------------- Calendar Year in Which First Calendar Year in Which Payment Is Due Adjusted Age First 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 3 2080 through 2089 Actual Age minus 8 ------------------------------ ---------------------------- ----------------------------- ------------------------- 2040 through 2049 Actual Age minus 4 2090 through 2099 Actual Age minus 9 ------------------------------ ---------------------------- ----------------------------- ------------------------- Amount of Monthly Payment For Each $1,000 Applied Option is selected by the Participant, they will be assigned automatically.1 - Payments for a Certain Period ------------------------------------------------------------------------------------------------------------------- Table 1 - Fixed Payments for a Certain Period --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ Number of Monthly Number of Monthly Number of Monthly Number of Monthly Years Payment Years Payment Years Payment Years Payment --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 1 $83.90 8 $11.04 14 $6.59 20 $4.81 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 2 42.26 9 9.89 15 6.20 21 4.62 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 3 28.39 10 8.96 16 5.85 22 4.44 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 4 21.45 11 8.21 17 5.55 23 4.28 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 5 17.28 12 7.58 18 5.27 24 4.13 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 6 14.51 13 7.05 19 5.03 25 3.99 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 7 12.53 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------

ANNUITY TABLES. 24The 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, 25 AMENDMENTS OR ENDORSEMENTSAccount Value, if as of the Annuity Date. If there is any -------------------------------------------------------------------------------- VARIABLE ANNUITY CONTRACT SPECIFICATIONS -------------------------------------------------------------------------------- OWNER: ABC Employer CONTRACT NUMBER: Specimen CONTRACT DATE: 6remaining 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-30-1996 PLAN: Qualified ASSIGNMENT: This Contract may not be assigned. See Assignment Provision of this Contract. -------------------------------------------------------------------------------- INITIAL PURCHASE PAYMENT.................... $500 year age setbacks and projected mortality improvement factors ($25 pursuant to an Automatic Investment Programmodified Scale G) MINIMUM SUBSEQUENT PURCHASE PAYMENTS........ $500 ($25 pursuant to an Automatic Investment Program) MINIMUM SYSTEMATIC WITHDRAWAL............... $100 MAXIMUM PARTICIPANT AGE..................... 80 MORTALITY AND EXPENSE RISK CHARGE........... 1.00% Annually ANNUAL ADMINISTRATIVE FEE................... None WITHDRAWAL CHARGES Purchase Payment Year..................... 1 2 3 4 5 6 + Withdrawal Charge......................... 5% 5% 5% 5% 5% 0% FREE WITHDRAWAL PERCENTAGE....................... 10% MINIMUM GUARANTEED RATE.......................... 3% SEPARATE ACCOUNT................................. Variflex SEPARATE ACCOUNT SERIES: 1 Money Market Series 2 High Grade Income Series 3 High Yield Series 4 Global Aggressive Bond Series 5 Growth-income Series 6 Equity Income Series 7 Managed Asset Allocation Series 8 Specialized Asset Allocation Series 9 Growth Series 10 Value Series 11 Worldwide Equity Series 12 Social Awareness Series 13 Emerging Growth Series 14 Small Cap Series METHOD FOR DEDUCTIONS: Deductions for Premium Taxes and any unallocated partial Withdrawals, including Systematic Withdrawals, will be made sequentially projected from the Contract Value age at annuitization to the age at which the probability of survival is needed in the order calculation of the Series listed above and then from the DCA Plus Accountannuity payment. The General Account is the last Account charged. The value ---------------------------------------------------------------------------------------------------------------- Translation of each Account will be depleted before the next is charged. * The Participant may select the Annuity Commencement Date and the Annuity Option. If no Annuity Commencement Date or Annuity 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 3 2080 through 2089 Actual Age minus 8 ---------------------------------------------------------------------------------------------------------------- 2040 through 2049 Actual Age minus 4 2090 through 2099 Actual Age minus 9 ---------------------------------------------------------------------------------------------------------------- Amount of Monthly Payment For Each $1,000 Applied Option is selected by the Participant, they will be assigned automatically.1 - Payments for a Certain Period ------------------------------------------------------------------------------------------------------------ Table 1 - Fixed Payments for a Certain Period ------------------------------------------------------------------------------------------------------------ Number of Monthly Number of Monthly Number of Monthly Number of Monthly Years Payment Years Payment Years Payment Years Payment ------------------------------------------------------------------------------------------------------------ 1 $83.90 8 $11.04 14 $6.59 20 $4.81 ------------------------------------------------------------------------------------------------------------ 2 42.26 9 9.89 15 6.20 21 4.62 ------------------------------------------------------------------------------------------------------------ 3 28.39 10 8.96 16 5.85 22 4.44 ------------------------------------------------------------------------------------------------------------ 4 21.45 11 8.21 17 5.55 23 4.28 ------------------------------------------------------------------------------------------------------------ 5 17.28 12 7.58 18 5.27 24 4.13 ------------------------------------------------------------------------------------------------------------ 6 14.51 13 7.05 19 5.03 25 3.99 ------------------------------------------------------------------------------------------------------------ 7 12.53 ------------------------------------------------------------------------------------------------------------

ANNUITY TABLES. 24The 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), 25 AMENDMENTS OR ENDORSEMENTSassuming a 10 year Period Certain. The rates used in each table are applied per $1,000 of Account Value, if any -------------------------------------------------------------------------------- VARIABLE ANNUITY CONTRACT SPECIFICATIONS -------------------------------------------------------------------------------- OWNER: ABC Employer CONTRACT NUMBER: Specimen CONTRACT DATE: 6as 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-30-1996 PLAN: Qualified ASSIGNMENT: This Contract may not be assigned. See Assignment Provision of this Contract. -------------------------------------------------------------------------------- INITIAL PURCHASE PAYMENT.................... $500 year age setbacks and projected mortality improvement factors ($25 pursuant to an Automatic Investment Programmodified Scale G) MINIMUM SUBSEQUENT PURCHASE PAYMENTS........ $500 ($25 pursuant to an Automatic Investment Program) MINIMUM SYSTEMATIC WITHDRAWAL............... $100 MAXIMUM PARTICIPANT AGE..................... 80 MORTALITY AND EXPENSE RISK CHARGE........... 1.00% Annually ANNUAL ADMINISTRATIVE FEE................... None WITHDRAWAL CHARGES Purchase Payment Year..................... 1 2 3 4 5 6 + Withdrawal Charge......................... 5% 5% 5% 5% 5% 0% FREE WITHDRAWAL PERCENTAGE....................... 10% MINIMUM GUARANTEED RATE.......................... 3% SEPARATE ACCOUNT................................. Variflex SEPARATE ACCOUNT SERIES: 1 Money Market Series 2 High Grade Income Series 3 High Yield Series 4 Global Aggressive Bond Series 5 Growth-income Series 6 Equity Income Series 7 Managed Asset Allocation Series 8 Specialized Asset Allocation Series 9 Growth Series 10 Value Series 11 Worldwide Equity Series 12 Social Awareness Series 13 Emerging Growth Series 14 Small Cap Series METHOD FOR DEDUCTIONS: Deductions for Premium Taxes and any unallocated partial Withdrawals, including Systematic Withdrawals, will be made sequentially projected from the Contract Value age at annuitization to the age at which the probability of survival is needed in the order calculation of the Series listed above and then from the DCA Plus Accountannuity payment. The General Account is the last Account charged. The value Translation of each Account will be depleted before the next is charged. * The Participant may select the Annuity Commencement Date and the Annuity Option. If no Annuity Commencement Date or Annuity Option is selected by the Participant, they will be assigned automatically.Adjusted Age ------------------------------------------------------------------------------------- Calendar Year in Which Calendar Year in Which First 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 P-OC/IND(5/14) Amount of Monthly Payment For Each $1,000 Applied Table 1 - Payments for a Period Certain ---------------------------------------------------------------------- Number of Monthly Number Monthly Number of Monthly Number of Monthly Years Payment of 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 Table 2 - Payments for Life with a 10 Year Period Certain -------------------------------------------------------------- Adjusted Adjusted Adjusted Age Male Female Age Male Female Age Male Female -------- ---- ------ -------- ---- ------ -------- ---- ------ 41 2.66 2.52 61 3.79 3.48 81 6.68 6.25 42 2.69 2.55 62 3.88 3.56 82 6.87 6.46 43 2.73 2.58 63 3.98 3.64 83 7.06 6.67 44 2.77 2.61 64 4.08 3.73 84 7.24 6.89 45 2.81 2.64 65 4.19 3.82 85 7.42 7.10 46 2.85 2.68 66 4.30 3.92 86 7.60 7.31 47 2.90 2.72 67 4.42 4.02 87 7.77 7.51 48 2.94 2.76 68 4.55 4.13 88 7.93 7.70 49 2.99 2.80 69 4.68 4.25 89 8.08 7.88 50 3.04 2.84 70 4.81 4.37 90 8.22 8.05 51 3.10 2.88 71 4.96 4.50 91 8.35 8.20 52 3.15 2.93 72 5.11 4.64 92 8.46 8.34 53 3.21 2.98 73 5.26 4.79 93 8.57 8.47 54 3.27 3.03 74 5.43 4.94 94 8.67 8.58 55 3.34 3.09 75 5.59 5.10 95 8.76 8.68 56 3.40 3.14 76 5.76 5.28 57 3.47 3.20 77 5.94 5.46 58 3.55 3.27 78 6.12 5.64 59 3.62 3.33 79 6.31 5.84 60 3.71 3.40 80 6.49 6.04 P-OC/IND(5/14)

ANNUITY TABLES. 24The 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, 25 AMENDMENTS OR ENDORSEMENTSAccount Value, if as of the Annuity Date. If there is any -------------------------------------------------------------------------------- VARIABLE ANNUITY CONTRACT SPECIFICATIONS -------------------------------------------------------------------------------- OWNER: ABC Employer CONTRACT NUMBER: Specimen CONTRACT DATE: 6-30-1996 PLAN: Qualified ASSIGNMENT: This Contract remaining contingent deferred sales charge applicable as of the Annuity Date, we may not be assignedrestrict the availability of certain Annuity Payout Options we offer. See Assignment Provision We used an interest rate of this Contract. -------------------------------------------------------------------------------- INITIAL PURCHASE PAYMENT.................... $500 ($25 pursuant to 1.5% per year in preparing Table 1 and an Automatic Investment Program) MINIMUM SUBSEQUENT PURCHASE PAYMENTS........ $500 ($25 pursuant to an Automatic Investment Program) MINIMUM SYSTEMATIC WITHDRAWAL............... $100 MAXIMUM PARTICIPANT AGE..................... 80 MORTALITY AND EXPENSE RISK CHARGE........... 1.00% Annually ANNUAL ADMINISTRATIVE FEE................... None WITHDRAWAL CHARGES Purchase Payment Year..................... 1 2 3 4 5 6 + Withdrawal Charge......................... 5% 5% 5% 5% 5% 0% FREE WITHDRAWAL PERCENTAGE....................... 10% MINIMUM GUARANTEED RATE.......................... interest rate of 3% SEPARATE ACCOUNT................................. Variflex SEPARATE ACCOUNT SERIES: 1 Money Market Series per year in preparing Table 2. Table 2 High Grade Income Series 3 High Yield Series 4 Global Aggressive Bond Series 5 Growthassumes 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-income Series 6 Equity Income Series 7 Managed Asset Allocation Series 8 Specialized Asset Allocation Series 9 Growth Series 10 Value Series 11 Worldwide Equity Series 12 Social Awareness Series 13 Emerging Growth Series 14 Small Cap Series METHOD FOR DEDUCTIONS: Deductions for Premium Taxes year age setbacks and any unallocated partial Withdrawals, including Systematic Withdrawals, will be made sequentially projected mortality improvement factors (modified Scale G) projected from the Contract Value age at annuitization to the age at which the probability of survival is needed in the order calculation of the Series listed above and then from the DCA Plus Accountannuity payment. The General Account is the last Account charged. The value ------------------------------------------------------------------------------------------------------------------- Translation of each Account will be depleted before the next is charged. * The Participant may select the Annuity Commencement Date and the Annuity Option. If no Annuity Commencement Date or Annuity Adjusted Age ------------------------------------------------------------------------------------------------------------------- Calendar Year in Which First Calendar Year in Which Payment Is Due Adjusted Age First 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 3 2080 through 2089 Actual Age minus 8 ------------------------------ ---------------------------- ----------------------------- ------------------------- 2040 through 2049 Actual Age minus 4 2090 through 2099 Actual Age minus 9 ------------------------------ ---------------------------- ----------------------------- ------------------------- Amount of Monthly Payment For Each $1,000 Applied Option is selected by the Participant, they will be assigned automatically.1 - Payments for a Certain Period ------------------------------------------------------------------------------------------------------------------- Table 1 - Fixed Payments for a Certain Period ------------------------------------------------------------------------------------------------------------------- Number of Monthly Number of Monthly Number of Monthly Number of Monthly Years Payment Years Payment Years Payment Years Payment --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 1 $83.90 8 $11.04 14 $6.59 20 $4.81 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 2 42.26 9 9.89 15 6.20 21 4.62 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 3 28.39 10 8.96 16 5.85 22 4.44 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 4 21.45 11 8.21 17 5.55 23 4.28 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 5 17.28 12 7.58 18 5.27 24 4.13 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 6 14.51 13 7.05 19 5.03 25 3.99 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------ 7 12.53 --------------- ------------ ------------ -------------- --------------- -------------- -------------- ------------

ANNUITY TABLES. 24, 25 16,17 AMENDMENTS OR ENDORSEMENTS, if any IF ANY -------------------------------------------------------------------------------- VARIABLE ANNUITY CONTRACT SPECIFICATIONS -------------------------------------------------------------------------------- OWNEROWNER NAME: ABC Employer Xxxx X Xxx CONTRACT NUMBER: Specimen JOINT OWNER NAME: Xxxx X. Xxx CONTRACT DATE: 6-30-1996 1997 PLAN: Qualified ASSIGNMENTISSUE DATE: 6-30-1997 ASSIGNEMENT: This Contract policy may not be assigned. See Assignment Provision of this ContractYour Policy. -------------------------------------------------------------------------------- INITIAL PURCHASE PAYMENT.................... PAYMENT $25,000 MINIMUM SUBSEQUENT PURCHASE PAYMENTS $500 ($25 50 pursuant to an Automatic Investment Program) MINIMUM SUBSEQUENT PURCHASE PAYMENTS........ $500 ($25 pursuant to an Automatic Investment Programautomatic investment program) MINIMUM SYSTEMATIC WITHDRAWAL............... WITHDRAWAL $100 MAXIMUM PARTICIPANT AGE..................... 80 MORTALITY AND EXPENSE RISK CHARGE........... 1.00CHARGE 1.25% Annually ANNUAL ADMINISTRATIVE FEE................... None ADMINISTRATION CHARGE .15% Annually WITHDRAWAL CHARGES Purchase Payment Year..................... CHARGES: Contract Year of Withdrawal 1 2 3 4 5 6 7+ Withdrawal Charge......................... 5Charge 6% 6% 5% 54% 53% 52% 0% FREE WITHDRAWAL PERCENTAGE....................... PERCENTAGE 10% MINIMUM GUARANTEED RATE.......................... 3RATE 3.00% SEPARATE ACCOUNT................................. Variflex SEPARATE ACCOUNT SERIESSUBACCOUNTS: 1 Money Market Series 2 Subaccount High Grade Income Series 3 Subaccount High Yield Series 4 Subaccount Global Aggressive Bond Series 5 Subaccount Growth-income Series 6 Income Subaccount Equity Income Series 7 Subaccount Managed Asset Allocation Series 8 Subaccount Specialized Asset Allocation Series 9 Subaccount Growth Series 10 Subaccount Value Series 11 Subaccount Worldwide Equity Series 12 Subaccount Social Awareness Series 13 Subaccount Emerging Growth Series 14 Small Cap Series Subaccount METHOD FOR DEDUCTIONS: Deductions for Premium Taxes Taxes, and any unallocated partial Withdrawals, including Systematic Withdrawals, will be made sequentially from the Contract Value in the descending order of the Series Subaccounts listed above and then from the DCA Plus Accountabove. The General Fixed Account is the last Account charged. The value of each Account will be depleted before the next is charged. * V6320 A (2-97) 3 -------------------------------------------------------------------------------- DEFINITIONS -------------------------------------------------------------------------------- ACCOUNT An Account is one of the Subaccounts or the Fixed Account. ACCUMULATION UNIT The Participant may select Accumulation Unit is a unit of measure. It is used to compute the Annuity Commencement Date and the Annuity Option. If no Annuity Commencement Date or Annuity Option is selected by the Participant, they will be assigned automaticallySeparate Account Contract Value.

ANNUITY TABLES. 24The 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. Translation of Adjusted Age ------------------------------------------------------------------------------------- Calendar Year in Which Calendar Year in Which First 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 P-OC/IND(5/14)-NY Amount of Monthly Payment For Each $1,000 Applied Table 1 - Payments for a Period Certain ------------------------------------------------------------------- Number Monthly Number Monthly Number Monthly Number Monthly of Years Payment of Years Payment of Years Payment of 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 AMENDMENTS OR ENDORSEMENTS, if any -------------------------------------------------------------------------------- VARIABLE ANNUITY CONTRACT SPECIFICATIONS -------------------------------------------------------------------------------- OWNER: ABC Employer CONTRACT NUMBER: Specimen CONTRACT DATE: 63.76 7 12.32 Table 2 - Payments for Life with a 10 Year Period Certain -------------------------------------------------------------- Adjusted Adjusted Adjusted Age Male Female Age Male Female Age Male Female -------- ---- ------ -------- ---- ------ -------- ---- ------ 41 2.66 2.52 61 3.79 3.48 81 6.68 6.25 42 2.69 2.55 62 3.88 3.56 82 6.87 6.46 43 2.73 2.58 63 3.98 3.64 83 7.06 6.67 44 2.77 2.61 64 4.08 3.73 84 7.24 6.89 45 2.81 2.64 65 4.19 3.82 85 7.42 7.10 46 2.85 2.68 66 4.30 3.92 86 7.60 7.31 47 2.90 2.72 67 4.42 4.02 87 7.77 7.51 48 2.94 2.76 68 4.55 4.13 88 7.93 7.70 49 2.99 2.80 69 4.68 4.25 89 8.08 7.88 50 3.04 2.84 70 4.81 4.37 90 8.22 8.05 51 3.10 2.88 71 4.96 4.50 91 8.35 8.20 52 3.15 2.93 72 5.11 4.64 92 8.46 8.34 53 3.21 2.98 73 5.26 4.79 93 8.57 8.47 54 3.27 3.03 74 5.43 4.94 94 8.67 8.58 55 3.34 3.09 75 5.59 5.10 95 8.76 8.68 56 3.40 3.14 76 5.76 5.28 57 3.47 3.20 77 5.94 5.46 58 3.55 3.27 78 6.12 5.64 59 3.62 3.33 79 6.31 5.84 60 3.71 3.40 80 6.49 6.04 P-30-1996 PLAN: Qualified ASSIGNMENTOC/IND(5/14)-NY GENERAL PROVISIONS Entire Contract: This Contract may not be assigned. See Assignment Provision Annuity, including the Annuity Schedule, any riders, endorsements, schedule supplements, and amendments that are made part of this ContractAnnuity, are the entire contract. -------------------------------------------------------------------------------- INITIAL PURCHASE PAYMENT.................... $500 ($25 pursuant This Annuity may be changed or modified only in a writing signed by our President, a Vice President, or Secretary. We are not bound by any promises or representations made by, or to, any other person. Incontestability: We will not contest this Annuity. Any statements made in applying for the Annuity are considered representations, not warranties. Misstatement of Age or Sex: If there has been a misstatement of the age and/or sex of any person upon whose life any amounts we are obligated to an Automatic Investment Program) MINIMUM SUBSEQUENT PURCHASE PAYMENTS........ $500 ($25 pursuant determine in order to an Automatic Investment Program) MINIMUM SYSTEMATIC WITHDRAWAL............... $100 MAXIMUM PARTICIPANT AGE..................... 80 MORTALITY AND EXPENSE RISK CHARGE........... 1.00% Annually ANNUAL ADMINISTRATIVE FEE................... None WITHDRAWAL CHARGES Purchase Payment Year..................... 1 2 3 4 5 6 + Withdrawal Charge......................... 5% 5% 5% 5% 5% 0% FREE WITHDRAWAL PERCENTAGE....................... 10% MINIMUM GUARANTEED RATE.......................... 3% SEPARATE ACCOUNT................................. Variflex SEPARATE ACCOUNT SERIES: 1 Money Market Series 2 High Grade Income Series 3 High Yield Series 4 Global Aggressive Bond Series 5 Growth-income Series 6 Equity Income Series 7 Managed Asset Allocation Series 8 Specialized Asset Allocation Series 9 Growth Series 10 Value Series 11 Worldwide Equity Series 12 Social Awareness Series 13 Emerging Growth Series 14 Small Cap Series METHOD FOR DEDUCTIONS: Deductions for Premium Taxes and make any unallocated partial Withdrawalspayment, including Systematic Withdrawalscharges and annuity payments, or the Death Benefit, we will adjust such amounts to conform to that for the correct age and/or sex. As to annuity payments: (a) any underpayments by us will be made sequentially from remedied on the Contract Value in the order next payment following correction with interest at a rate of the Series listed above 3%; and then from the DCA Plus Account. The General Account is the last Account charged. The value of each Account (b) any overpayments by us will be depleted before the next is charged. * The Participant may select the Annuity Commencement Date and the Annuity Option. If no Annuity Commencement Date or Annuity Option is selected charged against future amounts payable by the Participant, they will be assigned automaticallyus under your Annuity.