Aetna Life Insurance and Annuity Company
Home Office: 000 XXXXXXXXXX XXX.
HARTFORD, CONNECTICUT 06156
(000) 000-0000
Herein called Aetna
Agrees to pay benefits as stated in this Contract.
DETAILS OF VARIABLE FEATURES OF THIS CONTRACT ARE IN PARTS III AND IV.
THIS CONTRACT MAY NOT BE SUITABLE IF ONLY ONE (1) LARGE DEPOSIT IS MADE.
RIGHT TO CANCEL
The Owner may cancel this Contract within 10 days of receiving it, by sending a
written notice to Aetna at the above address or to the agent from whom it was
purchased. Aetna will return all payments made for this Contract within 7 days
after it receives the notice of cancellation and this Contract.
This page, following pages, and the application, make up the entire Contract.
Signed at Hartford, Connecticut on the Effective Date.
/s/ Xxxxxxx X. Xxxxxxxxxxx /s/ Xxxxxxx X. Xxxxxx
Secretary President
GROUP VARIABLE OR FIXED DEPOSIT ADMINISTRATION CONTRACT
NON-PARTICIPATING
ALL PAYMENTS AND VALUES PROVIDED BY THIS CONTRACT,
WHEN BASED ON INVESTMENT EXPERIENCE OF A SEPARATE ACCOUNT,
ARE VARIABLE AND ARE NOT GUARANTEED AS TO FIXED DOLLAR AMOUNT.
GIP-CDA-HB
SPECIFICATIONS
PLAN
OWNER
GROUP CONTRACT NO.
EFFECTIVE DATE
THIS CONTRACT IS DELIVERED IN
AND IS SUBJECT TO THE LAWS OF THAT JURISDICTION
Deduction from Deposit(s) - The amount of the Net Deposit(s) applied to this
Contract will be the deposit(s) received by Aetna minus a deduction for premium
taxes, if any. (See section 3.01.)
Guaranteed Interest Rate - There is a guaranteed interest rate for amounts held
in the General Account. Aetna may add interest daily at any higher rate. (See
sections 3.04 and 4.01.)
Surrender Fee - There will be a charge deducted for early surrender. (See
section 3.13.)
Deductions From The Separate Account And The Funds - Total deductions equal 1.5%
on an annual basis. Once Annuity payments begin, if the dollar amount of the
Variable Annuity payments is not to decrease Aetna must earn a gross return on
the assets of the Separate Account of: (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.
GIP-CDA-HB
TABLE OF CONTENTS
Page
I. GENERAL DEFINITIONS
1.01 Annuitant......................................................... 5
1.02 Annuity........................................................... 5
1.03 Contract Year..................................................... 5
1.04 Fixed Annuity..................................................... 5
1.05 Fund(s)........................................................... 5
1.06 General Account................................................... 5
1.07 Participant....................................................... 5
1.08 Plan.............................................................. 5
1.09 Separate Accounts................................................. 5
1.10 Valuation Period.................................................. 5
1.11 Variable Annuity.................................................. 5
II. GENERAL PROVISIONS
2.01 Contract, Change of Contract...................................... 6
2.02 Incontestability.................................................. 6
2.03 Control of Contract and Individual Accounts....................... 6
2.04 Payments.......................................................... 6
2.05 Individual Certificates........................................... 6
2.06 Designation of Beneficiary........................................ 7
2.07 Misstatements and Adjustments..................................... 7
2.08 State Laws........................................................ 7
2.09 Replacement of Fund(s)............................................ 7
2.10 Grace Period...................................................... 7
2.11 Non-Participating Contract........................................ 7
III. DEPOSIT, RESERVE, AND SURRENDER PROVISIONS
3.01 Net Deposit(s).................................................... 8
3.02 Allocated Contract - Individual Accounts.......................... 8
3.03 Unallocated Contract.............................................. 8
3.04 Guaranteed Interest Rate - General Account........................ 9
3.05 Record Units - Separate Account................................... 9
3.06 Investment Increment Factors - Separate Account................... 9
3.07 Record Unit Value - Separate Account.............................. 9
3.08 Contract Reserve.................................................. 10
3.09 Active Life Fund.................................................. 10
3.10 Transfer of Contract Reserves..................................... 10
3.11 Notice to the Owner............................................... 10
3.12 Sum Payable at Death (Before Annuity Payments Start).............. 11
3.13 Surrender Value................................................... 11
IV. ANNUITY PROVISIONS
4.01 Choices to be Made................................................ 13
4.02 Special Terms Under Annuity Options............................... 13
4.03 Other Terms of Annuity Options.................................... 13
4.04 Death of Annuitant/Beneficiary.................................... 14
4.05 Fund(s) Annuity Units - Separate Account.......................... 14
4.06 Fund(s) Annuity Unit Value - Separate Account..................... 14
4.07 Annuity Options................................................... 15
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XXX-CDA-HB
4
I. GENERAL DEFINITIONS
1.01 ANNUITANT - A Participant or beneficiary on whose life an Annuity has
been effected under this Contract.
1.02 ANNUITY - Payment of an income:
(a) for the life of one or two people;
(b) for a stated period, or amount; or
(c) for some mix of (a) and (b).
1.03 CONTRACT YEAR - A period of 12 months beginning on the Effective Date or
any anniversary of the Effective Date.
1.04 FIXED ANNUITY - An Annuity of a fixed dollar amount paid from the General
Account.
1.05 FUND(S) - The open-end management investment companies (mutual funds)
registered under the Investment Company Act of 1940 and made available
by Aetna.
1.06 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.
1.07 PARTICIPANT - A person for whom benefits are being funded under this
Contract.
1.08 PLAN - The employee benefit plan identified on the Specifications page.
The term includes all written documents describing the Plan. The Plan is
not a part of this Contract. Aetna is not bound by terms of the Plan.
1.09 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).
1.10 VALUATION PERIOD - The period of time from the end of one business day to
the end of the next business day.
1.11 VARIABLE ANNUITY - An Annuity of a varying dollar amount paid from the
Separate Account.
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GIP-CDA-XX
XX. GENERAL PROVISIONS
2.01 Contract, Change of Contract
This Contract constitutes the entire legal relationship between Aetna and
the Owner. Only an authorized Officer of Aetna may change any of the
terms of this Contract. Aetna will notify the Owner in writing 30 days in
advance of the effective date of any change. Any change will not affect
the amount or terms of any Annuity which begins prior to such change. Any
change below will only apply to deposits made on behalf of Participants
who become covered under this Contract on or after the effective date of
such change.
Any change that affects the Annuity Options, and the Tables for such
Options, can only be made:
(a) no earlier than 12 months after the Effective Date of this Contract;
and
(b) no earlier than 12 months after the effective date of any such
prior change.
Change can be made at any time that affect the following provisions of
this Contract:
(a) Net Deposit(s); (d) Investment Increment Factors;
(b) Guaranteed Interest Rate; (e) Surrender Value;
(c) Contract Reserve; (f) Fund(s) Annuity Unit Value
Any new Participants to be covered under this Contract on or after the
effective date of any change will be subject to such change. This
Contract is subject to change as required by federal or state law.
2.02 Incontestability
Aetna cannot cancel this Contract because of any error of fact on the
application.
2.03 Control of Contract and Individual Accounts
All rights in this Contract rest with the Owner. The Contract Owner is
entitled to all amounts held in the Active Life Fund (see section 3.09).
The Owner is entitled to make any choices allowed by this Contract with
respect to Individual Accounts. 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. This Contract, and any Individual Accounts, are not subject
to the claims of any creditors except to the extent permitted by law.
2.04 Payments
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, except as otherwise provided in section 3.13.
2.05 Individual Certificates
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Aetna will issue certificates for each Participant as required by the
state in which this Contract is delivered. The certificate will contain a
summary of the benefits provided by this Contract. Certificates are for
information only and are not a part of this Contract.
2.06 Designation of Beneficiary
The beneficiary for each Participant shall be as named, or later changed,
by the Owner.
2.07 Misstatements and Adjustments
If the age, sex, or any other relevant fact of any payee is found to be
misstated, the correct facts will be used to adjust payments.
2.08 State Laws
This Contract complies with 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 law. Annuity tables for legal reserve
valuation shall be as required by state law and may be different from the
annuity tables used to determine annuity payments.
2.09 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.
2.10 Grace Period
This Contract will remain in effect even if deposits are not continued.
2.11 Non-Participating Contract
The Owner, Participants, or beneficiaries will not have a right to share
in the earnings of Aetna.
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GIP-CDA-HB
III. DEPOSIT, RESERVE, AND SURRENDER PROVISIONS
3.01 Net Deposit(s)
The Net Deposit is the actual deposit minus an amount required to pay
premium taxes, if any. As a rule, Aetna will deduct the charge for
premium taxes at the time Annuity benefits are purchased (see section
4.01) rather than when deposits are received. If Aetna determines that it
must pay a premium tax at any other time, it will deduct the charge from
the Active Life Fund (see section 3.09) at that time.
3.02 Allocated Contract - Individual Accounts
This section applies if the Plan is:
(a) a defined contribution plan (as defined in section 414(i) of the
Internal Revenue Code); or
(b) an insurance contract plan (as defined in section 412(i) of the
Internal Revenue Code).
Aetna will maintain two Individual Accounts for each Participant. A
Participant's Individual Account for crediting employee deposits and an
Individual Plan Account for crediting employer deposits.
On the basis of information supplied by the Owner, Aetna will credit the
Net Deposit(s) to such Accounts in either:
(a) the General Account;
(b) the Separate Account where they will be allocated to the Fund(s) as
directed by the Owner; or
(c) a mix of (a) or (b).
3.03 Unallocated Contract
This section applies if the Plan is not one described in section 3.02.
Aetna will maintain a Participant's Individual Account for each
Participant into which Net Deposits resulting from employee deposits will
be credited. All other Net Deposits will be held in a single, unallocated
Plan Account in the name of the Owner.
On the basis of information supplied by the Owner, Aetna will credit the
Net Deposit(s) to such Accounts in either:
(a) the General Account;
(b) the Separate Account where they will be allocated to the Fund(s) as
directed by the Owner; or
(c) a mix of (a) or (b).
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GIP-CDA-HB
3.04 Guaranteed Interest Rate - General Account
On Net Deposit(s) made to the General Account, Aetna will add interest
daily at an annual rate no less than 4%. Aetna may add interest daily at
any higher rate determined prospectively by its Board of Directors. This
Guarantee does not apply to any amounts applied to the payment of an
Annuity. (See section 4.01 for a description of any interest guarantee
applying to Annuities.)
3.05 Record Units - Separate Account
The portion of the Net Deposit(s) applied to the Separate Account Fund(s)
will determine the number of Record Units. This number is equal to the
Net Deposit(s) divided by the Record Unit Value (see 3.07) for the
Valuation Period when the Net Deposit is received.
3.06 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
(e) a daily charge at an annual rate of .25% for investment management
expense.
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.
3.07 Record Unit Value - Separate Account
The Record Unit Value for 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
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GIP-CDA-HB
Record Units, Separate Account Reserves, and Variable Annuity payments
may go up or down due to investment gain or loss.
3.08 Contract Reserve
The Contract Reserve is equal to:
(a) Net Deposit(s) credited to the General Account (if any); plus
(b) General Account interest added by Aetna; plus
(c) the value of Separate Account Record Units (if any); minus
(d) a charge of $30 for each Participant on each anniversary of the
Effective Date when the Plan is one described in section 3.02 (a);
or
(e) a charge determined as $30 times the number of Participants on the
Effective Date made on each anniversary of the Effective Date when
the plan is one described in section 3.03; minus
(f) any amounts previously surrendered.
3.09 Active Life Fund
The Active Life Fund is the total Contract Reserve, minus those amounts
applied to the payment of Annuities under Part IV of this Contract.
3.10 Transfer of Contract Reserves
The Owner may transfer any portion of the Contract Reserves from any Fund
to any other Fund or to the General Account. Reserves cannot be
transferred from the General Account to any of the Funds. A transfer of
Reserves cannot be made within 90 days of a previous transfer.
3.11 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.
3.12 Sum Payable at Death (Before Annuity Payments Start)
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Aetna will pay to the beneficiary the value of the Participant's
Individual Account if:
(a) the participant dies before Annuity payments start; and
(b) the notice of death is received by Aetna.
The sum paid will be that portion of the Contract Reserve held in the
Participant's Individual Account on the date when the notice is received.
Any additional amounts payable to the beneficiary will be as provided in
the Plan. The beneficiary may choose to apply any sum payable at death
under Annuity Options (see section 4.07). If no beneficiary is living at
the death of the Participant, payment of any amount due will be made to
the Owner.
3.13 Surrender Value
The amount paid by Aetna upon the surrender of all or any portion of the
Active Life Fund shall be reduced by a surrender fee. The surrender fee
will be a percentage of the amount surrendered and 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 whole years since
the Effective Date. For each surrender from the Active Life Fund, the fee
will be as follows;
Number of Deposit Cycles Completed Fee
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 surrender fee is deducted when any portion of the Active Life Fund is
paid:
(a) at the death of a Participant before annuity payments start; or
(b) as a premium for an annuity for a Participant.
Aetna reserves the right to liquidate any surrender value with accrued
interest in installments over a period not to exceed 60 months when the
value of the Active Life Fund held in the General Account exceeds
$500,000 and the Owner chooses to surrender:
(a) such value; or
(b) any portion in excess of 20% of such value within a 12-month period.
Under certain emergency conditions, Aetna has the right to defer payment
of any surrender value:
(a) for a period of up to 6 months (unless prohibited by state law); and
(b) as provided by federal law.
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GIP-CDA-XX
XX. ANNUITY PROVISIONS
4.01 Choices to be Made
The Owner may tell Aetna to pay over any portion of the Contract Reserve
(minus any charges for premium taxes) as a premium for an Annuity under
Options 2, 3, 4, and 5 (see 4.07). 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 of the 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.
4.02 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.
4.03 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.
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 annuity, Aetna will make the larger payment.
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GIP-CDA-HB
4.04 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 Annuitant. The
present value will assume the then current commutation rate used by
Aetna.
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 then
current commutation rate used by Aetna.
4.05 Fund(s) Annuity Units - Separate Account
The amount of the first Variable Annuity payment will be equal to:
(a) the portion of the Contract 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 4.03) 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 Unit Value on
the due date of each payment.
4.06 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 section 3.06) 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.
4.07 Annuity Options
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Option 1 - Payment of Interest on Sum Left With Aetna - This option may
be used only by the beneficiary when the death of the Participant 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 an annual interest
rate of 3 1/2%. Aetna may add interest daily at any higher rate. 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 an amount which would deplete the funds in less
than 3 years.
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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.
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.
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
Male Female None 60 120 180 240
---- ------ ---- ---- ----- ----- -----
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
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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 Variable Annuity with Assumed Net Return Rate of 5%
LIFE INCOME WITH
Age of Payments Guaranteed for a Stated Period of Months:
Annuitant
Male Female None 60 120 180 240
---- ------ ---- ---- ----- ----- -----
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.
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:
18
GIP-CDA-HB
(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.
19
GIP-CDA-HB
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 Age of Annuitant
Second
Annuitant Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female Female Female Female Female Female
---- ------ ------- ------- ------- ------- ------- ------- -------
50 55 60 65 70 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 Age of Annuitant
Second
Annuitant Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female Female Female Female Female Female
---- ------ ------- ------- ------- ------- ------- ------- -------
50 55 60 65 70 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 7.38 8.14 8.96
80 85 - 5.81 6.29 6.90 7.66 8.62 9.76
20
GIP-CDA-HB
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
GIP-CDA-HB
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 Age of Annuitant
Second
Annuitant Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female Female Female Female Female Female
---- ------ ------- ------- ------- ------- ------- ------- -------
50 55 60 65 70 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 Age of Annuitant
Second
Annuitant Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female Female Female Female Female Female
---- ------ ------- ------- ------- ------- ------- ------- -------
50 55 60 65 70 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.
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GIP-CDA-HB
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 Age of Annuitant
Second
Annuitant Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female Female Female Female Female Female
---- ------ ------- ------- ------- ------- ------- ------- -------
50 55 60 65 70 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 Age of Annuitant
Second
Annuitant Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female Female Female Female Female Female
---- ------ ------- ------- ------- ------- ------- ------- -------
50 55 60 65 70 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.
23
GIP-CDA-HB
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 Age of Annuitant
Second
Annuitant Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female Female Female Female Female Female
---- ------ ------- ------- ------- ------- ------- ------- -------
50 55 60 65 70 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 Age of Annuitant
Second
Annuitant Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female Female Female Female Female Female
---- ------ ------- ------- ------- ------- ------- ------- -------
50 55 60 65 70 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.
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GIP-CDA-HB
--------------------------------------------------------------------------------
Aetna Life Insurance and Annuity Company
Home Office: 000 XXXXXXXXXX XXX.
HARTFORD, CONNECTICUT 06156
(000) 000-0000
GROUP VARIABLE OR FIXED DEPOSIT ADMINISTRATION CONTRACT
NON-PARTICIPATING
ALL PAYMENTS AND VALUES PROVIDED BY THIS CONTRACT,
WHEN BASED ON INVESTMENT EXPERIENCE OF A SEPARATE ACCOUNT,
ARE VARIABLE AND ARE NOT GUARANTEED AS TO FIXED DOLLAR AMOUNT
GIP-CDA-HB
--------------------------------------------------------------------------------
15
GIP-CDA-HB
