SPECIFICATIONS
Contract Owner Contract No.
Annuitant Date of Issue
Deduction from Deposit(s) - The Amount of the Net Deposit applied will be the
deposit received minus a deduction for premium taxes, if any then deducted (see
Net Deposit(s) provision in the Deposit, Reserve, and Surrender Provisions).
Guaranteed Interest Rate - There is a guaranteed interest rate; Aetna may add
interest daily at any higher rate (see Guaranteed Interest Rate - General
Account provision in the Deposit, Reserve, and Surrender Provisions).
Annual Charge - There is a charge deducted annually (see Reserve provision in
the Deposit, Reserve, and Surrender Provisions).
Surrender Fee - There will be a surrender fee deducted for early surrender (see
Surrender Value provision in the Deposit, Reserve, and Surrender Provisions).
Deductions From The Separate Account And The Funds - Total deductions equal 1.5%
on an annual basis. Once Annuity payments begin, Aetna must earn a gross return
on the assets of the Separate Account as stated below so that the dollar amount
of the Variable Annuity payments will not decrease: (a) 5% on an annual basis if
an assumed net return rate of 3.5% is chosen; or (b) 6.5% on an annual basis if
an assumed net return rate of 5% is chosen.
This Contract is a legal contract between the Owner and Aetna.
READ THIS CONTRACT CAREFULLY. This Contract sets forth, in detail, all of the
rights and obligations of both you and Aetna. IT IS THEREFORE IMPORTANT THAT YOU
READ THIS CONTRACT CAREFULLY.
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TABLE OF CONTENTS
Page
GENERAL DEFINITIONS
1. Annuity.................................................................4
2. Fixed Annuity...........................................................4
3. Variable Annuity........................................................4
4. General Account.........................................................4
5. Separate Accounts.......................................................4
6. Fund(s).................................................................4
7. Valuation Period........................................................4
GENERAL PROVISIONS
1. Contract................................................................5
2. Incontestability........................................................5
3. Ownership; Claims of Creditors..........................................5
4. Beneficiary.............................................................5
5. Misstatements and Adjustments...........................................5
6. State Laws..............................................................5
7. Replacement of Fund(s)..................................................6
8. Grace Period............................................................6
9. Non-Participating Contract..............................................6
DEPOSIT, RESERVE, AND SURRENDER PROVISIONS
1. Net Deposit(s)..........................................................6
2. Credit of Net Deposit(s)................................................7
3. Guaranteed Interest Rate - General Account..............................7
4. Record Units - Separate Account.........................................7
5. Investment Increment Factors - Separate Account.........................7
6. Record Unit Value - Separate Account....................................8
7. Reserve.................................................................8
8. Transfer of Reserve.....................................................9
9. Notice to the Owner.....................................................9
10. Sum Payable at Death (Before Annuity Payments Start)....................9
11. Surrender Value.........................................................9
12. Table of Minimum Values - General Account..............................10
ANNUITY PROVISIONS
1. Choices to be Made.....................................................12
2. Fund(s) Annuity Units - Separate Account...............................12
3. Fund(s) Annuity Unit Value - Separate Account..........................13
4. Annuity Options........................................................13
5. Special Terms Under Annuity Options....................................24
6. Other Terms of Annuity Options.........................................24
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7. Death of Annuitant/Beneficiary.........................................24
3
GENERAL DEFINITIONS
1. ANNUITY - Payment of an income:
(a) for the life of one or two people;
(b) for a stated period;
(c) for some mix of (a) and (b); or
(d) until there are no funds left.
2. FIXED ANNUITY - An Annuity of a fixed dollar amount paid from the
General Account.
3. VARIABLE ANNUITY3y - An Annuity of a varying dollar amount paid from
the Separate Account.
4. GENERAL ACCOUNT - The Account which holds the assets of Aetna, other
than those assets of Aetna in the Separate Accounts. Reserves for a
Fixed Annuity are held in the General Account.
5. SEPARATE ACCOUNTS - Accounts set up by Aetna under the Connecticut
Insurance Laws. Assets for this class of variable contracts are set
apart from other assets of Aetna. Reserves for a Variable Annuity are
held in a Separate Account and invested in shares of Fund(s).
6. FUND(S) - The open-end management investment companies (mutual funds)
registered under the Investment Company Act of 1940 and made available
by Aetna.
7. VALUATION PERIOD - The period of time from the end of one business day
to the end of the next business day.
4
GENERAL PROVISIONS
1. Contract
This Contract may be changed only by an officer of Aetna. Any change
must be made in writing. Any choices under this Contract by the Owner,
Annuitant or beneficiary must be in writing. Until receipt of such
choices in the Home Office of Aetna, Aetna may rely on any previous
choices made.
Aetna will make Annuity payments as and when due. Any other payments
will be made by Aetna within 7 days of receipt of the written claim for
payment.
2. Incontestability
Aetna cannot cancel this Contract because of any error of fact on the
application.
3. Ownership; Claims of Creditors
The Owner shall be as stated on the application, or as later changed by
the Owner. During the lifetime of the Annuitant, all of the benefits
and rights granted by this Contract, or allowed by Aetna, belong to the
Owner.
This Contract is non-transferable and may not be sold, assigned,
discounted, or pledged to other than Aetna.
It is not subject to the claims of any creditors except to the extent
permitted by law.
4. Beneficiary
The beneficiary shall be as stated on the application, or as later
changed by the Owner.
5. Misstatements and Adjustments
If the age, sex, or any relevant fact of any payee is found to be
misstated, the correct facts will be used to adjust payments.
6. State Laws
This Contract follows the laws of the state in which it is delivered.
Any cash, death or Annuity payments are equal to or greater than the
minimum required by such laws. Annuity Tables for Reserve Valuation
shall be as required by such state laws, and may be different from the
Annuity Table used to determine Annuity Payments.
5
7. Replacement of Fund(s)
Aetna, or the Separate Account(s) and the Fund(s), may:
(a) change the Fund(s) which may be invested in by the Separate
Account(s); and
(b) replace the shares of any Fund(s) held in the Separate Account(s)
with shares of any other Fund(s).
Such change or replacement must be:
(1) approved by a majority vote of persons having an interest in the
Separate Account(s) and the Fund(s); or
(2) deemed necessary by Aetna under the Investment Company Act of
1940; or
(3) deemed necessary by Aetna to accomplish the purpose of the
Separate Account(s).
Aetna will notify the Owner of any such change or replacement.
8. Grace Period
This Contract will remain in effect even if deposits are not continued.
9. Non-Participating Contract
The Owner will have no right to share in the earnings of Aetna.
DEPOSIT, RESERVE, AND SURRENDER PROVISIONS
1. Net Deposit(s)
The Net Deposit is the actual deposit minus a charge to pay premium
taxes, if any. As a rule, Aetna will take this charge out of the
Reserve (see below) when annuity payments are to start. But, if Aetna
determines that it must pay any imposed premium tax at any other time,
it may take out the charge at any time.
6
2. Credit of Net Deposit(s)
On the basis of information supplied by the Owner, Aetna will credit
the Net Deposit(s) in either:
(a) the General Account;
(b) the Separate Account where it is invested in the Fund(s) as
directed by the Owner; or
(c) a mix of (a) and (b).
3. Guaranteed Interest Rate - General Account
On the Net Deposit(s) made to the General Account, Aetna will add
interest daily at an annual rate no less than 4% before annuity
payments start. (See Annuity Provisions for rate after annuity payments
start).
Aetna may add interest daily at any higher rate. Such higher rate will
be at an annual rate determined prospectively from time to time by the
Board of Directors.
4. Record Units - Separate Account
The portion of the Net Deposit applied to the Separate Account Fund(s)
will determine the number of Record Units. This number is equal to the
Net Deposit divided by the Record Unit Value (see below) for the
Valuation Period when the Net Deposit is received.
5. Investment Increment Factors - Separate Account
Investment Increment Factors are those items used to determine a Fund's
net return factor for each Valuation Period. The net return factor(s)
are then used to compute all Separate Account values and payments.
The gross return is equal to:
(a) investment income; plus
(b) realized and unrealized capital gains; minus
(c) realized and unrealized capital losses; minus
(d) certain investment expenses; and minus
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(e) a daily charge at an annual rate of .25% for investment
management expense and profit.
The gross return is divided by the net assets of the Fund at the start
of the Valuation Period to compute the gross return rate. A gross
return rate may be more or less than 0. The net return rate is equal
to:
(a) the gross return rate; plus or minus
(b) taxes (or charges to a tax reserve) on the Separate Account; and
minus
(c) a daily charge at an annual rate of 1.25% for annuity mortality
and expense risks and profit.
A net return rate may be more or less than 0.
The net return factor for each Fund is equal to the net return rate
plus 1.000000.
6. Record Unit Value - Separate Account
The Record Unit Value of each Separate Account Fund is computed by
multiplying the net return factor for the current Valuation Period by
the Record Unit Value for the previous Period. The dollar value of
Record Units, Separate Account Reserves, and Variable Annuity payments
may go up or down due to investment gain or loss.
7. Reserve
The Reserve is equal to:
(a) the Net Deposit(s) credited to the General Account (if any); plus
(b) General Account interest added by Aetna; plus
(c) the value of the Separate Account Record Units (if any); minus
(d) a charge of $20 on each anniversary of the Date of Issue of this
Contract; and minus
(e) any amounts previously surrendered.
8. Transfer of Reserve
The Owner may transfer any portion of the Reserve from any Fund to any
other Fund or to the General Account. The Reserve cannot be transferred
from the
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General Account to any of the Funds. A transfer of the Reserve cannot
be made within 90 days of a previous transfer.
9. Notice to the Owner
Aetna will notify the Owner each year of:
(a) the investments held in the Fund(s) for the Separate Account; and
(b) the number of record units; or
(c) the number of annuity units; and
(d) the value of a unit.
Such number or values will be as of a date no more than 60 days before
the date of the notice.
10. Sum Payable at Death (Before Annuity Payments Start)
Aetna will pay to the beneficiary the Reserve if:
(a) the Annuitant dies before Annuity payments start; and
(b) the notice of death is received by Aetna.
If no beneficiary is living when the Annuitant dies, payment will be
made to the estate of the Owner, or the Owner if not the Annuitant. The
sum paid will be the Reserve on the date when the notice is received.
The beneficiary may choose to apply any sum under Annuity Options (see
Annuity Provisions).
11. Surrender Value
The Owner, before Annuity payments start, may choose to surrender all
or a portion of the Reserve. The amount paid by Aetna on any surrender
will be the Reserve surrendered less a percentage charge. The charge
will vary according to the number of Deposit Cycles completed. The
number and amount of deposits to be made in a year is chosen by the
Owner. A Deposit Cycle is completed when this number or amount of
deposits has been made. The number of completed Deposit Cycles may not
be greater than the number of whole years since the Date of Issue of
this Contract. For each surrender the charge will be as follows:
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Number of Deposit Cycles Completed Charge
Less than 5 5%
5 or more but less than 7 4%
7 or more but less than 9 3%
9 or more 2%
No such charge shall be applied:
(a) When the Annuitant dies; or
(b) When an annuity option is elected and when the right under the
Annuity Option to receive the present value of the Annuity is not
exercised within a 3 year period after the start of payments.
In no event, however, will the charge on a total surrender of this
Contract exceed 9% of the actual deposits.
Under certain emergency conditions, Aetna has the right to defer
payment of any surrender value:
(a) for a period of 6 months as provided by state law; and
(b) as provided by federal law.
12. Table of Minimum Values - General Account
The Values in the following Table only apply to Annual Deposits of
exactly $1,000 credited by Aetna to the General Account. Values would
be different for other modes of Deposits, Deposits in an amount other
than $1,000, Deposits not made when due, prior partial surrenders, or
if Aetna adds interest at a rate greater than the Guaranteed Interest
Rate.
The Surrender Value assumes that a Deposit of exactly $1,000 is
credited by Aetna and applied at the Guaranteed Interest Rate in the
General Account at the beginning of the first contract year and each
contract year thereafter. The charge referred to in the Reserve
provision is deducted. The applicable surrender charge in the Surrender
Value provision is deducted.
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TABLE OF MINIMUM (FIXED) GENERAL ACCOUNT VALUES
PER $1,000 OF NET DEPOSIT TO THE GENERAL ACCOUNT
Minimum Minimum
End of Minimum Surrender End of Minimum Surrender
Year Reserve Value Year Reserve Value
1 $ 1,020 $ 969 16 $ 22,261 $ 21,816
2 2,081 1,977 17 24,171 23,688
3 3,184 3,025 18 26,158 25,635
4 4,331 4,115 19 28,224 27,660
5 5,524 5,304 20 30,373 29,766
6 6,765 6,495 25 42,478 41,629
7 8,056 7,815
8 9,398 9,117 30 57,206 56,063
9 10,794 10,579
10 2,246 12,001 35 75,124
11 3,756 13,481 40 96,925
12 15,326 15,020
13 16,959 16,620 45 123,448
14 18,658 18,285
15 20,424 20,016 50 155,719
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ANNUITY PROVISIONS
1. Choices to be Made
The Owner may tell Aetna to pay the Reserve (minus any charge for
premium taxes) as a premium for an Annuity under Options 2, 3, 4, and 5
(see below). (See Other Terms of Annuity Options provision). The first
Annuity payment must generally be made no later than the first day of
the month following the Annuitant's 75th birthday. The Owner may tell
Aetna to make the first Annuity payment on the first day of any prior
month.
When any option is chosen, the Owner or beneficiary choosing the option
must tell Aetna if payments are to be made other than monthly. They
must also tell Aetna to pay:
(a) a Fixed Annuity;
(b) a Variable Annuity using any Fund(s) made available by Aetna; or
(c) any mix of these.
When choosing a Fixed Annuity, Aetna will add interest daily at an
annual rate no less than 3.5%. Aetna may add interest daily at any
higher rate.
When choosing a Variable Annuity, an assumed net return rate of 5% per
year may be chosen. If not chosen, Aetna will use an assumed net return
rate of 3.5% per year.
2. Fund(s) Annuity Units - Separate Account
the amount of the first Variable Annuity payment will be equal to:
(a) the portion of the Individual Account Reserve (minus any charges
for premium taxes) to be used to pay a Variable Annuity using the
Fund(s); times
(b) the rate for each $1,000 for the Option chosen.
Such amount, or portion, of the payment using a Fund will be divided by
the Fund(s) Annuity Unit Value (see below) on the due date of the first
payment to determine the number of the Fund(s) Annuity Units.
Such number of the Fund(s) Annuity Units remains fixed. Each future
payment is equal to such number times the Fund(s) Annuity Value on the
due date of each payment.
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3. Fund(s) Annuity Unit Value - Separate Account
For any Valuation Period the Fund(s) Annuity Unit Value is equal to:
(a) the Value for the next previous Period; times
(b) the net return factor(s) (see Investment Increment Factors -
Separate Account provisions) for the tenth previous Period; times
(c) a factor to reflect the assumed net return rate.
The factor for 3.5% per year is .9999058; for 5% per year it is
.9998663.
The dollar amount of Annuity Units, values, and payments may go up or
down due to investment gain or loss.
Payments shall not be changed due to mortality or expense results.
4. Annuity Options
Option 1 - Payment of Interest on Sum Left With Aetna - General Account
- This Option may be used only by the beneficiary when the death of the
Annuitant is before Aetna has started paying an Annuity. A portion or
all of the sum due may be held in the General Account of Aetna at
interest (see Guaranteed Interest Rate - General Account provision).
The beneficiary may later tell Aetna to:
(a) pay a portion, or all, of the sum held by Aetna; or
(b) apply a portion, or all, of the sum held by Aetna under any of
the Annuity Options below.
Option 2 - Payments of a Stated Dollar Amount - An Annuity of a chosen
amount will be paid until there are no funds left. The payments to be
made in a year must be no less than $60 for each $1,000 applied to this
Option, but cannot exceed a level amount which would deplete the funds
in less than 3 years.
Where there is a right under Federal Securities Law to forego future
payments and receive the present value of the Annuity under this Option
in a lump sum, the exercise of that right within a 3 year period after
the start of payments shall be treated as a surrender (see Surrender
Value under Deposit, Reserve and Surrender Provisions).
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Option 3 - Payments for a Stated Period of Time - An Annuity will be
paid for the number of years chosen. The number of years must be no
less than 3 and no more than 30.
Where there is a right under Federal Securities Law to forego future
payments and receive the present value of the Annuity under this Option
in a lump sum, the exercise of that right within a 3 year period after
the start of payments shall be treated as a surrender (see Surrender
Value under Deposit, Reserve and Surrender Provisions).
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AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%; and
Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
PAYMENTS FOR A STATED PERIOD
Years of Amount of Years of Amount of Years of Amount of
Payments Payments Payments Payments Payments Payments
3 $29.19 13 $7.94 22 $5.39
4 22.27 14 7.49 23 5.24
5 18.12 15 7.10 24 5.09
6 15.35 16 6.76 25 4.96
7 13.38 17 6.47 26 4.84
8 11.90 18 6.20 27 4.73
9 10.75 19 5.97 28 4.63
10 9.83 20 5.75 29 4.53
11 9.09 21 5.56 30 4.45
12 8.46
Rates for a Variable Annuity with Assumed Net Return Rate of 5%
PAYMENTS FOR A STATED PERIOD
Years of Amount of Years of Amount of Years of Amount of
Payments Payments Payments Payments Payments Payments
3 $29.80 13 $8.64 22 $6.17
4 22.89 14 8.20 23 6.02
5 18.74 15 7.82 24 5.88
6 15.99 16 7.49 25 5.76
7 14.02 17 7.20 26 5.65
8 12.56 18 6.94 27 5.54
9 11.42 19 6.71 28 5.45
10 10.51 20 6.51 29 5.36
11 9.77 21 6.33 30 5.28
12 9.16
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Option 4 - Life Income - An Annuity will be paid for life. Payments may be made
for a minimum stated period, if chosen, of 60, 120, 180 or 240 months. If the
Annuitant dies before the end of such stated period, payments will be made to
the beneficiary for the rest of the stated period.
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AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%; and
Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
LIFE INCOME WITH
Age of Payments Guaranteed for a Stated Period of Months:
Annuitant None 60 120 180 240
Male Female
50 55 $4.98 $4.96 $4.89 $4.77 $4.62
51 56 5.08 5.05 4.98 4.85 4.68
52 57 5.18 5.16 5.07 4.93 4.74
53 58 5.30 5.26 5.17 5.01 4.80
54 59 5.41 5.38 5.27 5.09 4.86
55 60 5.54 5.49 5.37 5.17 4.92
56 61 5.67 5.62 5.48 5.26 4.98
57 62 5.80 5.75 5.59 5.35 5.04
58 63 5.95 5.89 5.71 5.44 5.10
59 64 6.10 6.03 5.83 5.53 5.16
60 65 6.27 6.19 5.96 5.62 5.22
61 66 6.44 6.35 6.09 5.72 5.27
62 67 6.63 6.52 6.23 5.81 5.33
63 68 6.82 6.71 6.38 5.91 5.38
64 69 7.04 6.90 6.53 6.00 5.43
65 70 7.26 7.11 6.68 6.10 5.47
66 71 7.50 7.33 6.84 6.19 5.52
67 72 7.76 7.56 7.01 6.28 5.55
68 73 8.04 7.80 7.18 6.37 5.59
69 74 8.34 8.07 7.35 6.46 5.62
70 75 8.67 8.34 7.52 6.54 5.65
71 9.01 8.63 7.70 6.62 5.67
72 9.39 8.94 7.88 6.69 5.69
73 9.79 9.26 8.05 6.76 5.71
74 10.22 9.61 8.22 6.81 5.72
75 10.69 9.96 8.39 6.87 5.73
Rates for ages not shown will be provided on request and will
be computed on a basis consistent with the rates in the
above tables.
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AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for Variable Annuity with Assumed Net Return Rate of 5%
LIFE INCOME WITH
Age of Payments Guaranteed for a Stated Period of Months:
Annuitant None 60 120 180 240
Male Female
50 55 $5.89 $5.86 $5.78 $5.65 $5.48
51 56 5.99 5.96 5.86 5.71 5.53
52 57 6.09 6.06 5.95 5.79 5.59
53 58 6.20 6.16 6.04 5.86 5.64
54 59 6.32 6.27 6.14 5.94 5.70
55 60 6.44 6.39 6.24 6.02 5.75
56 61 6.57 6.51 6.34 6.10 5.80
57 62 6.71 6.64 6.45 6.18 5.86
58 63 6.85 6.77 6.56 6.26 5.91
59 64 7.00 6.92 6.68 6.35 5.97
60 65 7.16 7.07 6.80 6.43 6.02
61 66 7.34 7.23 6.93 6.52 6.07
62 67 7.52 7.40 7.06 6.61 6.12
63 68 7.72 7.58 7.20 6.70 6.17
64 69 7.93 7.77 7.35 6.79 6.21
65 70 8.16 7.97 7.50 6.88 6.25
66 71 8.40 8.19 7.65 6.97 6.29
67 72 8.66 8.42 7.81 7.05 6.33
68 73 8.94 8.66 7.97 7.14 6.36
69 74 9.24 8.92 8.13 7.22 6.39
70 75 9.56 9.19 8.30 7.29 6.41
71 9.91 9.48 8.47 7.36 6.43
72 10.29 9.78 8.64 7.43 6.45
73 10.69 10.10 8.80 7.49 6.47
74 11.13 10.43 8.97 7.55 6.48
75 11.60 10.79 9.13 7.60 6.49
Rates for ages not shown will be provided on request and will
be computed on a basis consistent with the rates in the
above tables.
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Option 5 - Life Income for Two Payees - An Annuity will be paid during the lives
of the Annuitant and a second annuitant. At the death of either, payments will
continue to the survivor. When this option is chosen, a choice must be made of:
(a) 100% of the payment to continue to the survivor;
(b) 66 2/3% of the payment to continue to the survivor;
(c) 50% of the payment to continue to the survivor; or
(d) payments for a minimum of 120 months, with 100% of the payment to
continue to the survivor.
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AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%;
and Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
JOINT AND LAST SURVIVOR ANNUITY
100% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- ---------
50 55 $4.10 $4.27 $4.43 $4.57 $4.69 $4.79 $4.86
55 60 4.21 4.43 4.65 4.86 5.04 5.20 5.32
60 65 4.30 4.57 4.86 5.15 5.43 5.68 5.88
65 70 4.38 4.69 5.04 5.43 5.83 6.21 6.56
70 75 4.44 4.79 5.20 5.68 6.21 6.78 7.33
75 80 4.48 4.86 5.32 5.88 6.56 7.33 8.16
80 85 -- 4.91 5.41 6.03 6.82 7.80 8.95
Rates for a Variable Annuity with Assumed Net Return Rate of 5%
JOINT AND LAST SURVIVOR ANNUITY
100% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- ---------
50 55 $5.00 $5.16 $5.31 $5.44 $5.57 $5.67 $5.75
55 60 5.11 5.31 5.51 5.71 5.90 6.06 6.19
60 65 5.20 5.44 5.71 5.99 6.26 6.52 6.73
65 70 5.28 5.57 5.90 6.26 6.65 7.04 7.38
70 75 5.34 5.67 6.06 6.52 7.04 7.59 8.14
75 80 5.38 5.75 6.19 6.73 6.38 8.14 8.96
80 85 -- 5.81 6.29 6.90 7.66 8.62 9.76
Rates for ages not shown will be provided on request and will
be computed on a basis consistent with the rates in the
above tables.
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AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%; and
Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
JOINT AND LAST SURVIVOR ANNUITY
66 2/3% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- ---------
50 55 $4.51 $4.72 $4.94 $5.18 $5.44 $5.71 $6.00
55 60 4.70 4.94 5.20 5.49 5.81 6.14 6.49
60 65 4.90 5.18 5.49 5.84 6.23 6.65 7.09
65 70 5.11 5.44 5.81 6.23 6.71 7.25 7.82
70 75 5.34 5.71 6.14 6.65 7.25 7.93 8.69
75 80 5.58 6.00 6.49 7.09 7.82 8.69 9.69
80 85 -- 6.28 6.84 7.53 8.39 9.47 10.77
Rates for a Variable Annuity with Assumed Net Return Rate of 5%
JOINT AND LAST SURVIVOR ANNUITY
66 2/3% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- ---------
50 55 $5.43 $5.62 $5.84 $6.08 $6.36 $6.65 $6.98
55 60 5.62 5.84 6.10 6.38 6.70 7.06 7.44
60 65 5.82 6.08 6.38 6.72 7.11 7.54 8.01
65 70 6.06 6.36 6.70 7.11 7.58 8.12 8.71
70 75 6.31 6.65 7.06 7.54 8.12 8.80 9.56
75 80 6.59 6.98 7.44 8.01 8.71 9.56 10.56
80 85 -- 7.31 7.84 8.49 9.33 10.38 11.66
Rates for ages not shown will be provided on request and will
be computed on a basis consistent with the rates in the
above tables.
21
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%; and
Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
JOINT AND LAST SURVIVOR ANNUITY
50% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- ---------
50 55 $4.75 $4.98 $5.24 $5.55 $5.91 $6.32 $6.79
55 60 4.99 5.24 5.54 5.88 6.28 6.76 7.30
60 65 5.26 5.55 5.88 6.27 6.73 7.27 7.90
65 70 5.59 5.91 6.28 6.73 7.26 7.90 8.65
70 75 5.96 6.32 6.76 7.27 7.90 8.67 9.57
75 80 6.37 6.79 7.30 7.90 8.65 9.57 10.69
80 85 -- 7.30 7.88 8.59 9.49 10.61 12.00
Rates for a Variable Annuity with Assumed Net Return Rate of 5%
JOINT AND LAST SURVIVOR ANNUITY
50% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- ---------
50 55 $5.67 $5.89 $6.15 $6.47 $6.84 $7.29 $7.81
55 60 5.91 6.15 6.44 6.78 7.20 7.70 8.28
60 65 6.20 6.47 6.78 7.16 7.63 8.19 8.86
65 70 6.54 6.84 7.20 7.63 8.16 8.80 9.58
70 75 6.95 7.29 7.70 8.19 8.80 9.56 10.48
75 80 7.42 7.81 8.28 8.86 9.58 10.48 11.60
80 85 -- 8.39 8.94 9.61 10.46 11.56 12.92
Rates for ages not shown will be provided on request and will
be computed on a basis consistent with the rates in the
above tables.
22
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%; and
Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
JOINT AND LAST SURVIVOR ANNUITY
100% TO THE SURVIVOR
120 MONTHS MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- ---------
50 55 $4.10 $4.27 $4.42 $4.56 $4.68 $4.77 $4.83
55 60 4.21 4.42 4.64 4.84 5.02 5.16 5.26
60 65 4.30 4.56 4.84 5.12 5.38 5.61 5.78
65 70 4.37 4.68 5.02 5.38 5.76 6.10 6.37
70 75 4.42 4.77 5.16 5.61 6.10 6.58 7.00
75 80 4.46 4.83 5.26 5.78 6.37 7.00 7.58
80 85 -- 4.86 5.33 5.88 6.55 7.29 8.02
Rates for a Variable Annuity with Assumed Net Return Rate of 5%
JOINT AND LAST SURVIVOR ANNUITY
100% TO THE SURVIVOR
120 MONTHS MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- ---------
50 55 $5.00 $5.15 $5.30 $5.43 $5.55 $5.64 $5.71
55 60 5.10 5.30 5.50 5.69 5.87 6.01 6.12
60 65 5.19 5.43 5.69 5.96 6.21 6.44 6.61
65 70 5.27 5.55 5.87 6.21 6.57 6.90 7.17
70 75 5.32 5.64 6.01 6.44 6.90 7.37 7.78
75 80 5.36 5.71 6.12 6.61 7.17 7.78 8.34
80 85 -- 5.75 6.19 6.72 7.35 8.06 8.76
Rates for ages not shown will be provided on request and will
be computed on a basis consistent with the rates in the
above tables.
23
5. Special Terms Under Annuity Options
(a) when payments start, the age of the Annuitant plus the number of
years for which payments are guaranteed must not exceed 95.
(b) the present value of the payments to the Annuitant when payments
start shall be more than 50% of the present value of the payments
to be made to all payees; this restriction does not apply if
Option 5 is chosen and the second Annuitant is the spouse of the
Annuitant.
6. Other Terms of Annuity Options
No choice of any Annuity Option may be made if the first payment would
be less than $20 or if the total payments in a year would be less than
$100.
Age, where used in the above tables, means age nearest birthday on the
date of the first payment. The tables for Options 4 and 5 use the
Annuity table for 1949 with:
(a) a 1 year age reduction for males; and
(b) a 6 year age reduction for females.
Payments shall not be changed due to mortality or expense results.
If Fixed Annuity Options 3, 4, or 5 are chosen and a larger payment
would result from applying the Surrender Value to a current Aetna
single premium immediate annuity, Aetna will make the larger payment.
7. Death of Annuitant/Beneficiary
When an Annuitant dies while payments are being made under an Annuity
Option, payments will be continued to the beneficiary as provided by
the option. If no beneficiary is living, the present value of any
remaining payments will be paid in one sum to the estate of the Owner,
or the Owner if not the Annuitant. The present value will assume the
same interest rate that was used when the first payment was made.
When a beneficiary dies while a sum is held at interest, the amount
held will be paid in one sum to the estate of the beneficiary. When a
beneficiary dies while payments are being made under an Annuity Option,
the present value of any remaining payments will be paid in one sum to
the estate of the beneficiary. The present value will assume the same
interest rate that was used when the first payment was made.
