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EXHIBIT 5(aa)
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VARIABLE GROUP UNIVERSAL LIFE
MINNESOTA LIFE PARTIAL SURRENDER AMENDMENT
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Minnesota Life Insurance Company - 000 Xxxxxx Xxxxxx Xxxxx - Xx. Xxxx, Xxxxxxxxx
00000-0000
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This amendment is to be attached to and become part of Group Policy No.
issued by Minnesota Life Insurance Company to .
This amendment is effective as of . Continued payment of
premiums shall constitute acceptance of the conditions stated in this amendment.
Under the "SURRENDERS AND WITHDRAWALS" section of the policy, the provision
entitled "IS A PARTIAL SURRENDER PERMITTED?" has been amended in its entirety to
read:
IS A PARTIAL SURRENDER PERMITTED?
Yes. The owner may make a partial surrender of the net cash value of a
certificate. The amount of a partial surrender must be $500 or more and cannot
exceed 100% of the net cash value of the certificate. A partial surrender will
cause a decrease in the face amount equal to the amount surrendered under those
certificates issued with a level death benefit, Option A. A partial surrender
has no effect on the face amount of an Option B death benefit. However, since
the account value is reduced by the amount of the partial surrender, the death
benefit under Option B will be reduced by this same amount at the time of the
partial surrender. We reserve the right to change the minimum amount or limit
the number of times the owner may make a partial surrender.
Agreed to by Minnesota Life Insurance Company.
/s/ Xxxxxx X. Xxxxxxxxx /s/ Xxxxxx X. Xxxxxxx
Secretary President
00-30158 Minnesota Life 1
