Exhibit 4
INDIVIDUAL VARIABLE DEFERRED ANNUITY CONTRACT
WITH FLEXIBLE PURCHASE PAYMENTS
Nonparticipating
ANNUITY PAYMENTS, WITHDRAWAL VALUES AND THE DEATH BENEFITS PROVIDED BY THIS
CONTRACT, WHEN BASED ON THE INVESTMENT EXPERIENCE OF THE SEPARATE ACCOUNT, ARE
VARIABLE AND ARE NOT GUARANTEED AS TO DOLLAR AMOUNT.
TABLE OF CONTENTS
Page
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CONTRACT SCHEDULE.......................................................... 1
DEFINITIONS................................................................ 5
PURCHASE PAYMENT PROVISIONS................................................ 7
Purchase Payments........................................................ 7
Subsequent Purchase Payments............................................. 7
Allocation of Purchase Payments.......................................... 7
SEPARATE ACCOUNT PROVISIONS................................................ 7
The Separate Account..................................................... 7
Valuation of Assets...................................................... 7
Accumulation Units....................................................... 7
Accumulation Unit Value.................................................. 8
Mortality and Expense Risk Charge........................................ 8
Administrative Charge.................................................... 8
Distribution Charge...................................................... 8
Mortality and Expense Guarantee.......................................... 9
ANNUAL CONTRACT MAINTENANCE CHARGE......................................... 9
Deduction for Annual Contract Maintenance Charge......................... 9
TRANSFERS.................................................................. 9
Transfers During the Accumulation Period................................. 9
Transfers During the Annuity Period...................................... 9
WITHDRAWAL PROVISIONS...................................................... 10
Withdrawal............................................................... 10
Contingent Deferred Sales Charge......................................... 11
Withdrawal Charge........................................................ 11
PROCEEDS PAYABLE ON DEATH.................................................. 11
Death of Contract Owner During the Accumulation Period................... 11
Death Benefit Amount During the Accumulation Period...................... 11
Death Benefit Options During the Accumulation Period..................... 11
Death of Contract Owner During the Annuity Period........................ 12
Death of Annuitant....................................................... 12
Payment of Death Benefit................................................. 12
Beneficiary.............................................................. 12
Change of Beneficiary.................................................... 13
SUSPENSION OR DEFERRAL OF PAYMENTS PROVISION............................... 13
ANNUITANT, OWNERSHIP, ASSIGNMENT PROVISIONS................................ 13
Annuitant................................................................ 13
Contract Owner........................................................... 13
Joint Contract Owners.................................................... 13
Assignment of the Contract............................................... 13
GENERAL PROVISIONS......................................................... 14
The Contract............................................................. 14
Contract Changes by the Company.......................................... 14
Contract Changes by the Contract Owner................................... 14
Contract Termination..................................................... 14
Incontestability......................................................... 14
Misstatement of Age or Sex............................................... 14
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Non-Business Days........................................................ 15
Non-Participating........................................................ 15
Protection of Proceeds................................................... 15
Regulatory Requirements.................................................. 15
Reports.................................................................. 15
Premium and Other Taxes.................................................. 15
ANNUITY PROVISIONS......................................................... 16
Annuity Guidelines....................................................... 16
Annuity Payments......................................................... 16
▇▇▇▇▇ ▇▇▇▇▇▇▇............................................................ 16
Variable Annuity......................................................... 16
Annuity Units and Payments............................................... 17
Annuity Unit Value....................................................... 17
Annuity Options.......................................................... 17
Annuity Option A--Life Income.......................................... 17
Annuity Option B--Life Income with Period Certain...................... 17
Annuity Option C--Joint and Last Survivor Payments..................... 17
Annuity Option D--Joint and 2/3 Survivor Annuity....................... 18
Annuity Option E--Period Certain....................................... 18
Annuity Option F--Special Income Settlement Agreement.................. 18
ANNUITY RATES.............................................................. 19
Fixed Annuity Rates...................................................... 19
Fixed Annuity Rates Table 1............................................ 20
Fixed Annuity Rates Table 2............................................ 21
Fixed Annuity Rates Table 3............................................ 22
Fixed Annuity Rates Table 4............................................ 23
Variable Annuity Rates................................................... 24
Variable Annuity Rates Table 5......................................... 25
Variable Annuity Rates Table 6......................................... 26
Variable Annuity Rates Table 7......................................... 27
Variable Annuity Rates Table 8......................................... 28
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CONTRACT SCHEDULE
Revision Date:
Contract Owner: Age and Sex:
Annuitant: Age and Sex:
Contract Number: Issue Date:
Annuity Date:
As designated by the Contract Owner at the Issue Date, unless changed in
accordance with the Contract.
Purchase Payments:
Initial Purchase Payment: $25,000
Minimum Subsequent Purchase Payment: $250, or, if the Automatic Investment
Plan Option is elected, $100.
Maximum Total Purchase Payments: For Contract Owners up to Age 75 on the
Issue Date, the maximum total Purchase Payments are $1 Million; for Contract
Owners over Age 75 on the Issue Date, the maximum total Purchase Payments are
$500,000. Purchase Payments above these amounts must be preapproved by the
Company. For Joint Contract Owners, Age refers to the oldest Joint Contract
Owner.
Allocation Guidelines:
1. There are no limitations on the number of Sub-Accounts that can be
selected by a Contract Owner.
2. Contract Owners can have Purchase Payments allocated to the Fixed
Account in accordance with the attached Declared Interest Rate Fixed
Account Endorsement.
3. If the Purchase Payments and forms required to issue a Contract are in
good order, the initial Net Purchase Payment will be credited to the
Contract within two (2) business days after receipt at the Annuity
Service Center. Additional Purchase Payments will be credited to the
Contract as of the Valuation Period when they are received.
Fixed Account:
Minimum Guaranteed Interest Rate: 3%
Separate Account: C.m. Multi-account A
Eligible Investments, Series And Sub-accounts:
▇▇▇▇▇▇▇▇▇▇▇ Variable Account Funds
Money Fund/VA Money Sub-Account
Strategic Bond Fund/VA Strategic Bond Sub-Account
Main Street Growth &
Income Fund/VA Main Street Growth & Income Sub-Account
High Income Fund/VA High Income Sub-Account
Capital Appreciation
Fund/VA Capital Appreciation Sub-Account
Global Securities
Fund/VA Global Securities Sub-Account
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Panorama Series Fund I, Inc.
Total Return Portfolio Total Return Sub-Account
Growth Portfolio Growth Sub-Account
International Equity Portfolio International Equity Sub-Account
Variable Insurance Products Fund II--Contrafund Portfolio; Contrafund Sub-
Account
American Century Variable Portfolios, Inc. VP Income & Growth Portfolio;
Income & Growth Sub-Account
▇. ▇▇▇▇ Price Equity Series, Inc.--Mid-Cap Growth Portfolio; Mid-Cap Growth
Sub-Account
MML Series Investment Fund
MML Small Cap Value Equity Fund Small Cap Value Equity Sub-Account
MML Equity Fund Equity Sub-Account
MML Blend Fund Blend Sub-Account
MML Equity Index Fund Equity Index Sub-Account
MML Growth Equity Fund Growth Equity Sub-Account
MML Small Cap Growth Equity Fund Small Cap Growth Equity Sub-Account
MML Managed Bond Fund Managed Bond Sub-Account
Annual Contract Maintenance Charge: On the last day of each Contract Year an
annual fee not to exceed $60.00 per Contract Year will be deducted. However, if
the Contract Value on the last day of the Contract Year is at least $100,000,
then no Annual Contract Maintenance Charge will be deducted. If a total
withdrawal is made on other than the last day of the Contract Year and the
Contract Value for the Valuation Period during which the total withdrawal is
made is less than $100,000, the Annual Contract Maintenance Charge will be
deducted at the time of the total withdrawal. The Contract Maintenance Charge
will be deducted from the Sub-Accounts and the Fixed Account in the same
proportion that the amount of the Contract Value in each Sub-Account or Fixed
Account bears to the total Contract Value. If the Annuity Date is not the last
day of the Contract Year and the Contract Value on the Annuity Date is less
than $100,000, then a pro-rata portion of the Annual Contract Maintenance
Charge will be deducted on the Annuity Date. During the Annuity Period, the
Annual Contract Maintenance Charge will be deducted pro-rata from Annuity
Payments regardless of Contract size and will result in a reduction of each
Annuity Payment.
Mortality and Expense Risk Charge: The current charge is equal on an annual
basis to 1.34% of the average daily net asset value of the Separate Account for
the first Ten Contract Years, subject to a maximum charge of 1.50%, and 1.09%
thereafter, subject to a maximum charge of 1.35%.
Administrative Charge: The current charge is equal on an annual basis to
0.15% of the average daily net asset value of the Separate Account. The maximum
Administrative Charge will not exceed 0.25% of the average daily net asset
value of the Separate Account.
Distribution Charge: None
Transfers:
Number Of Transfers: Subject to the conditions imposed on such transfers by
the Company, Contract Owners may make unlimited transfers during the
Accumulation Period and 6 transfers per calendar year during the Annuity
Period. The Company reserves the right to further limit the number of transfers
in the future.
Free Transfers: 12 per calendar year during the Accumulation Period; 6 per
calendar year during the Annuity Period. All transfers made during a Valuation
Period are deemed to be one transfer.
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Transfer Fee: The Transfer fee will not exceed the lesser of $20 or 2% of
the amount transferred for each transfer beyond the 12 free unscheduled
transfers allowed per calendar year. In addition, all transfers made as a
result of a dollar cost averaging or rebalancing program will be considered as
free scheduled transfers that do not count toward the 12 free unscheduled
transfers.
Minimum and Maximum Amount to be Transferred: The minimum amount of a
transfer is $1,000 per transfer request (from one or multiple Sub-Accounts and
the Fixed Account during the Accumulation Period) or the Contract Owner's
entire interest in the Sub-Account or Fixed Account, if less. This requirement
is waived if the transfer is made in connection with the rebalancing program.
Transfers out of the Fixed Account during any Contract Year are limited in
amount to thirty percent (30%) of the Contract Owner's Contract Value allocated
to the Fixed Account determined as of the end of the previous Contract Year.
Transfers out of the Fixed Account are done on a first-in-first-out basis.
Transfers between Competing Accounts are not allowed. The Fixed Account and
the Money Market Sub-Account are considered Competing Accounts. For a period of
ninety (90) days following a transfer out of a Competing Account, no transfers
may be made into the other Competing Account. In addition, for a period of
ninety (90) days following a transfer into a Competing Account, no transfers
may be made out of the other Competing Account.
Minimum Amount Which Must Remain In A Sub-account Or The Fixed Account after
a Transfer: $1,000; or $0 if the entire amount in the Sub-account or Fixed
Account is transferred.
Withdrawals:
Contingent Deferred Sales Charge: None
Free Withdrawal Amount: Unlimited Free Withdrawals. Not subject to any
Withdrawal Charges.
Withdrawal Charge: None
Minimum Partial Withdrawal: $250
Minimum Contract Value Which Must Remain In The Contract After A Partial
Withdrawal: $25,000
Number Of Partial Withdrawals Permitted: No Limit
Annuity Guideline Parameters:
1. If the amount to be applied under an Annuity Option is less than $2,000,
the Company reserves the right to pay the amount in a lump sum. If any
Annuity Payment is less than $100, the Company reserves the right to
change the payment basis to equivalent quarterly, semi-annual or annual
payments.
2. The Annuity Date must be the first day of a calendar month. The Annuity
Date cannot be earlier than five years after the Issue Date.
3. The latest permitted Annuity Date is the earlier of:
(i) the 100th birthday of the Annuitant or the oldest joint Annuitant;
(ii) the latest date permitted under state law; or
(iii) the 100th birthday of the Contract Owner or the oldest Joint
Owner.
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RIDERS: Individual Retirement Annuity Endorsement
Accumulation Death Benefit Endorsement
Reset Death Benefit Endorsement
Annual Ratchet Death Benefit Endorsement
Basic Death Benefit Endorsement
Unisex Annuity Rates Contract Endorsement
Tax Sheltered Annuity Endorsement
Qualified Plan Contract Endorsement
Section 457 Plan Endorsement
Declared Interest Rate Fixed Account Endorsement
Terminal Illness Benefit Endorsement
Fixed Account for Dollar Cost Averaging Endorsement
Exchange Endorsement
Death Benefit Endorsement Charge: The maximum charge will not exceed 0.20%
on an annual basis of the average daily net asset value of the Separate
Account. The maximum charge will not exceed 0.35% on an annual basis of the
average daily net asset value of the Separate Account for ages 16-60 at Issue
Date. The maximum charge will not exceed 0.50% on an annual basis of the
average daily net asset value of the Separate Account for ages 61-70 at Issue
Date. The maximum charge will not exceed 0.70% on an annual basis of the
average daily net asset value of the Separate Account for ages 71 and older at
Issue Date. None.
Annuity Service Center:
C.M. Life Insurance Company
Annuity Service Center, H565
P.O. Box 9067
Springfield, MA 01102-9067
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DEFINITIONS
Accumulation Period The period prior to the commencement of Annuity
Payments during which Purchase Payments may be made.
Accumulation Unit A unit of measure used to determine the value of the
Contract Owner's interest in a Sub-Account of the
Separate Account during the Accumulation Period.
Age The age of any Contract Owner or Annuitant on his/her
birthday nearest the date for which age is being
determined.
Annuitant The primary person upon whose life Annuity Payments are
to be made. On or after the Annuity Date, the Annuitant
shall also include any joint Annuitant.
Annuity Date The date on which Annuity Payments begin. The Annuity
Date is shown on the Contract Schedule.
Annuity Payments The series of payments that will begin on the Annuity
Date.
Annuity Options Options available for Annuity Payments.
Annuity Period The period which begins on the Annuity Date and ends
with the last Annuity Payment.
Annuity Reserve The assets which support the Annuity Option selected by
the Contract Owner during the Annuity Period.
Annuity Service Center The office indicated on the Contract Schedule of this
Contract to which notices, requests and Purchase
Payments must be sent. All sums payable by the Company
under this Contract are payable only at the Annuity
Service Center.
Annuity Unit A unit of measure used to determine the amount of each
Variable Annuity Payment after the Annuity Date.
Beneficiary The person(s) or entity(ies) designated to receive the
death benefit provided by this Contract.
Contract Anniversary An anniversary of the Issue Date of this Contract.
Contract Owner The person(s) or entity(ies) entitled to the ownership
rights stated in this Contract.
Contract Value The sum of the Contract Owner's interest in the Sub-
Accounts of the Separate Account during the
Accumulation Period.
Contract Year The first Contract Year is the annual period which
begins on the Issue Date. Subsequent Contract Years
begin on each anniversary of the IssueDate.
Eligible Investment An investment entity shown on the Contract Schedule
into which assets of the Separate Account will be
invested.
Fixed Annuity A series of payments made during the Annuity Period
which are guaranteed as to dollar amount by the
Company.
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General Account The Company's general investment account which contains
all the assets of the Company with the exception of the
Separate Account and other segregated asset accounts.
Issue Date The date on which this Contract became effective.
Net Purchase Payment A Purchase Payment less any Premium Tax assessed by any
state or other jurisdiction.
Premium Tax A tax imposed by certain states and other jurisdictions
when a Purchase Payment is made, when Annuity Payments
begin, or when the Contract is surrendered.
Purchase Payment During the Accumulation Period, a payment made by or on
behalf of a Contract Owner with respect to this
Contract.
Revision Date The date of any revised Contract Schedule. A revised
Contract Schedule bearing the latest Revision Date will
supersede all previous Contract Schedules.
Separate Account The Company's Separate Account designated on the
Contract Schedule.
Series A segment of an Eligible Investment which constitutes a
separate and distinct class of shares into which assets
of a Sub-Account will be invested.
Sub-Account Separate Account assets are divided into Sub-Accounts
which are listed on the Contract Schedule. Assets of
each Sub-Account will be invested in shares of an
Eligible Investment or a Series of an Eligible
Investment.
Valuation Date Each day on which the Company, the New York Stock
Exchange ("NYSE") and the Eligible Investments are open
for business.
Valuation Period The period of time beginning at the close of business
of the NYSE on each Valuation Date and ending at the
close of business for the next succeeding Valuation
Date.
Variable Annuity An annuity with payments which vary as to dollar amount
in relation to the investment performance of specified
Sub-Accounts of the Separate Account.
Written Request A request in writing, in a form satisfactory to the
Company, which is received by the Annuity Service
Center.
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PURCHASE PAYMENT PROVISIONS
Purchase Payments
The initial Purchase Payment is due on the Issue Date. The minimum and
maximum subsequent and total Purchase Payments are shown on the Contract
Schedule. The Company reserves the right to reject any Application or Purchase
Payment.
Subsequent Purchase Payments
Subject to the minimum subsequent and maximum total shown on the Contract
Schedule, the Contract Owner may make subsequent Purchase Payments.
Allocation Of Purchase Payments
The allocation of the initial Net Purchase Payment is made in accordance
with the selection made by the Contract Owner at the time the Contract is
issued. Unless otherwise changed by Written Request by the Contract Owner,
subsequent Net Purchase Payments are allocated in the same manner as the
initial Net Purchase Payment. Allocation of the Net Purchase Payments is
subject to the Allocation Guidelines shown on the Contract Schedule. The
Company has reserved the right to allocate initial Purchase Payments to the
Money Market Sub-Account until the expiration of the Right to Examine Contract
period.
SEPARATE ACCOUNT PROVISIONS
The Separate Account
The Separate Account is designated on the Contract Schedule and consists of
assets set aside by the Company, which are kept separate from that of the
general assets and all other separate account assets of the Company. The assets
of the Separate Account equal to reserves and other liabilities will not be
charged with liabilities arising out of any other business the Company may
conduct.
The Separate Account assets are divided into Sub-Accounts. The Sub-Accounts
which are available under this Contract are listed in the Contract Schedule.
The assets of the Sub-Accounts are allocated to the Eligible Investment(s) and
the Series, if any, within an Eligible Investment shown on the Contract
Schedule. The Company may, from time to time, add additional Eligible
Investments or Series to those shown on the Contract Schedule. The Contract
Owner may be permitted to transfer Contract Values or allocate Net Purchase
Payments to the additional Eligible Investments or Series. However, the right
to make such transfers or allocations will be limited by the terms and
conditions imposed by the Company.
Should the shares of any such Eligible Investment(s) or any Series within an
Eligible Investment become unavailable for investment by the Separate Account,
or the Company's Board of Directors deems further investment in these shares
inappropriate, the Company may limit further purchase of such shares or may
substitute shares of another Eligible Investment or Series for shares already
purchased under this Contract.
Valuation of Assets
The assets of the Separate Account are valued at their fair market value in
accordance with procedures of the Company.
Accumulation Units
During the Accumulation Period, Accumulation Units shall be used to account
for all amounts allocated to or withdrawn from the Sub-Accounts of the Separate
Account as a result of Purchase Payments, withdrawals,
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transfers, or fees and charges. The Company will determine the number of
Accumulation Units of a Sub-Account purchased or cancelled. This will be done
by dividing the amount allocated to (or the amount withdrawn from) the Sub-
Account by the dollar value of one Accumulation Unit of the Sub-Account as of
the end of the Valuation Period during which the request for the transaction is
received at the Annuity Service Center.
Accumulation Unit Value
The Accumulation Unit Value for each Sub-Account was arbitrarily set
initially at $10. Subsequent Accumulation Unit Values for each Sub-Account are
determined by multiplying the Accumulation Unit Value for the immediately
preceding Valuation Period by the Net Investment Factor for the Sub-Account for
the current Valuation Period.
The Net Investment Factor for each Sub-Account is determined by dividing A
by B and subtracting C where:
A is (i) the net asset value per share of the Eligible Investment or
Series of an Eligible Investment held by the Sub-Account for the
current Valuation Period; plus
(ii) any dividend per share declared on behalf of such Eligible
Investment or Series that has an ex-dividend date within the
current Valuation Period; less
(iii) the cumulative charge or credit for taxes reserved which is
determined by the Company to have resulted from the operation or
maintenance of the Sub-Account.
B is the net asset value per share of the Eligible Investment or Series
of an Eligible Investment held by the Sub-Account for the
immediately preceding Valuation Period.
C is the cumulative unpaid charge for the Mortality and Expense Risk
Charge, for the Administrative Charge and for the Distribution
Charge which are shown on the Contract Schedule.
The Accumulation Unit Value may increase or decrease from Valuation Period
to Valuation Period.
Mortality And Expense Risk Charge
Each Valuation Period, the Company deducts a Mortality and Expense Risk
Charge from each Sub-Account of the Separate Account which is equal, on an
annual basis, to the amount shown on the Contract Schedule. The Mortality and
Expense Risk Charge compensates the Company for assuming the mortality and
expense risks under this Contract.
Administrative Charge
Each Valuation Period, the Company deducts an Administrative Charge from
each Sub-Account of the Separate Account which is equal, on an annual basis, to
the amount shown on the Contract Schedule. The Administrative Charge
compensates the Company for the costs associated with the administration of
this Contract and the Separate Account.
Distribution Charge
Each Valuation Period, the Company deducts a Distribution Charge from each
Sub-Account of the Separate Account which is equal, on an annual basis to the
amount shown on the Contract Schedule. The Distribution Charge compensates the
Company for the costs associated with the distribution of this Contract.
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Mortality And Expense Guarantee
The Company guarantees that the dollar amount of each Annuity Payment after
the first Annuity Payment will not be affected by variations in mortality or
expense experience.
ANNUAL CONTRACT MAINTENANCE CHARGE
Deduction For Annual Contract Maintenance Charge
The Company deducts an Annual Contract Maintenance Charge from the Contract
Value or Annuity Payments to reimburse it for expenses relating to maintenance
of this Contract. The Annual Contract Maintenance Charge is shown on the
Contract Schedule.
TRANSFERS
Transfers During The Accumulation Period
Subject to any limitations imposed by the Company on the number of
transfers, shown on the Contract Schedule, that can be made during the
Accumulation Period, the Contract Owner may transfer all or part of the
Contract Owner's interest in a Sub-Account by Written Request without the
imposition of any fee or charge if there have been no more than the number of
free transfers shown on the Contract Schedule. All transfers are subject to the
following:
1. If more than the number of free transfers have been made, the Company
will deduct a Transfer Fee, shown on the Contract Schedule, for each
subsequent transfer permitted. The Transfer Fee will be deducted from
the Contract Owner's interest in the Sub-Account from which the transfer
is made. However, if the Contract Owner's entire interest in a Sub-
Account is being transferred, the Transfer Fee will be deducted from the
amount which is transferred. If Contract Values are being transferred
from more than one Sub-Account, any Transfer Fee will be allocated to
those Sub-Accounts on a pro-rata basis in proportion to the amount
transferred from each Sub-Account.
2. The minimum amount which can be transferred is shown on the Contract
Schedule. The minimum amount which must remain in a Sub-Account is shown
on the Contract Schedule.
3. The Company reserves the right, at any time and without prior notice to
any party, to terminate, suspend or modify the transfer privilege
described above.
If the Contract Owner elects to use this transfer privilege, the Company
will not be liable for transfers made in accordance with the Contract Owner's
instructions. All amounts and Accumulation Units will be determined as of the
end of the Valuation Period during which the request for transfer is received
at the Annuity Service Center.
Transfers During The Annuity Period
During the Annuity Period, the Contract Owner may make transfers, by Written
Request, as follows:
1. The Contract Owner may make transfers of Annuity Reserves between Sub-
Accounts, subject to any limitations imposed by the Company on the
number of transfers, shown on the Contract Schedule, that can be made.
If more than the number of free transfers have been made, the Company
will deduct a Transfer Fee, shown on the Contract Schedule, for each
subsequent transfer permitted. The Transfer Fee will be deducted from
the Contract Owner's interest in the Sub-Account from which the transfer
is made. However, if the Contract Owner's entire interest in a Sub-
Account is being transferred, the Transfer Fee will be deducted from the
amount which is transferred. If Annuity Reserves are being transferred
from more than one Sub-Account, any Transfer Fee will be allocated to
those Sub-Accounts on a pro-rata basis in proportion to the amount
transferred from each Sub-Account.
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2. The Contract Owner may, once each Contract Year, make a transfer from
one or more Sub-Accounts to the General Account. The Contract Owner may
not make a transfer from the General Account to the Separate Account.
3. Transfers between Sub-Accounts will be made by converting the number of
Annuity Units being transferred to the number of Annuity Units of the
Sub-Account to which the transfer is made, so that the next Annuity
Payment if it were made at that time would be the same amount that it
would have been without the transfer. Thereafter, Annuity Payments will
reflect changes in the value of the new Annuity Units.
The amount transferred to the General Account from a Sub-Account will be
based on the Annuity Reserves for the Contract Owner in that Sub-
Account. Transfers to the General Account will be made by converting the
Annuity Units being transferred to purchase fixed Annuity Payments under
the Annuity Option in effect and based on the Age of the Annuitant at
the time of the transfer.
4. The minimum amount which can be transferred is shown on the Contract
Schedule. The minimum amount which must remain in a Sub-Account is shown
on the Contract Schedule.
5. The Company reserves the right, at any time and without prior notice to
any party, to terminate, suspend or modify the transfer privilege
described above.
If the Contract Owner elects to use this transfer privilege, the Company
will not be liable for transfers made in accordance with the Contract Owner's
instructions. All amounts and Annuity Unit Values will be determined as of the
end of the Valuation Period during which the request for transfer is received
at the Annuity Service Center.
WITHDRAWAL PROVISIONS
Withdrawal
During the Accumulation Period, the Contract Owner may, upon Written
Request, make a total or partial withdrawal of the Contract Withdrawal Value.
The Contract Withdrawal Value is:
1. The Contract Value as of the end of the Valuation Period during which a
Written Request for a withdrawal is received; less
2. Any applicable Premium Taxes not previously deducted; less
3. The Contingent Deferred Sales Charge, if any; less
4. The Withdrawal Charge, if any; less
5. The Annual Contract Maintenance Charge, if any; less
6. Any Purchase Payments credited to the Contract when based upon checks
that have not cleared the drawer bank.
A withdrawal will result in the cancellation of Accumulation Units from each
applicable Sub-Account in the ratio that the Contract Owner's interest in the
Sub-Account bears to the total Contract Value. The Contract Owner must specify
by Written Request in advance which Sub-Account Units are to be canceled if
other than the above method is desired. If the Contract Owner makes a total
withdrawal, all of the Contract Owner's rights and interests in the Contract
will terminate.
The Company will pay the amount of any withdrawal within seven (7) days of
receipt of a request in good order unless the Suspension or Deferral of
Payments Provision is in effect.
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Each partial withdrawal must be for an amount which is not less than the
minimum amount shown on the Contract Schedule. The Contract Value which must
remain in the Contract after a partial withdrawal is shown on the Contract
Schedule. The Company reserves the right to limit the number of partial
withdrawals that can be made from a Contract. The current number of partial
withdrawals permitted is shown on the Contract Schedule.
Contingent Deferred Sales Charge
A contingent deferred sales charge may be deducted in the event of a
withdrawal of all or a portion of the Contract Value. The Contingent Deferred
Sales Charge and Free Withdrawal Amounts are set out on the Contract Schedule.
Withdrawal Charge
A service fee (Withdrawal Charge) may be deducted in the event of a
withdrawal. The Withdrawal Charge is set out on the Contract Schedule.
PROCEEDS PAYABLE ON DEATH
Death of Contract Owner During the Accumulation Period
Upon the death of the Contract Owner or a Joint Contract Owner during the
Accumulation Period, the death benefit will be paid to the Beneficiary
designated by the Contract Owner. Upon the death of a Joint Contract Owner, the
surviving Joint Contract Owner, if any, will be treated as the Primary
Beneficiary. Any other Beneficiary designation on record at the time of death
will be treated as a Contingent Beneficiary.
A Beneficiary may request that the death benefit be paid under one of the
Death Benefit Options below. If the Beneficiary is the spouse of the Contract
Owner he or she may elect to continue the Contract at the then current Contract
Value in his or her own name and exercise all the Contract Owner's rights under
the Contract.
Death Benefit Amount During the Accumulation Period
The death benefit during the Accumulation Period will be the Contract Value
determined and paid as of the end of the Valuation Period during which the
Company receives both due proof of death and an election for the payment
method.
Death Benefit Options During the Accumulation Period
A non-spousal Beneficiary must elect the death benefit to be paid under one
of the following options in the event of the death of the Contract Owner during
the Accumulation Period:
Option 1 --lump sum payment of the death benefit; or
Option 2 --the payment of the entire death benefit within 5 years of the
date of the death of the Contract Owner; or
Option 3 --payment of the death benefit under an Annuity Option over the
lifetime of the Beneficiary or over a period not extending
beyond the life expectancy of the Beneficiary with distribution
beginning within one year of the date of death of the Contract
Owner or any Joint Contract Owner.
Any portion of the death benefit not applied under Option 3 within one year
of the date of the Contract Owner's death must be distributed within five years
of the date of death.
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A spousal Beneficiary may elect to continue the Contract in his or her own
name, elect a lump sum payment of the death benefit or apply the death benefit
to an Annuity Option.
If a lump sum payment is requested, the amount will be paid within seven
(7) days of receipt of proof of death and the election, unless the Suspension
or Deferral of Payments Provision is in effect.
Payment to the Beneficiary, other than in a lump sum, may only be elected
during the sixty-day period beginning with the date of receipt by the Company
of proof of death.
Death of Contract Owner During the Annuity Period
If the Contract Owner or a Joint Contract Owner, who is not the Annuitant,
dies during the Annuity Period, any remaining payments under the Annuity
Option elected will continue at least as rapidly as under the method of
distribution in effect at such Contract Owner's death. Upon the death of a
Contract Owner during the Annuity Period, the Beneficiary becomes the Contract
Owner.
Death of Annuitant
Upon the death of the Annuitant, who is not a Contract Owner, during the
Accumulation Period, the Contract Owner may designate a new Annuitant, subject
to the Company's underwriting rules then in effect. If no designation is made
within 30 days of the death of the Annuitant, the Contract Owner will become
the Annuitant. If the Contract Owner is a non-natural person, the death of the
Annuitant will be treated as the death of the Contract Owner and a new
Annuitant may not be designated.
Upon the death of the Annuitant on or after the Annuity Date, the death
benefit, if any, will be as specified in the Annuity Option elected. Death
benefits will be paid at least as rapidly as under the method of distribution
in effect at the Annuitant's death.
Payment of Death Benefit
The Company will require due proof of death before any death benefit is
paid. Due proof of death will be:
1. a certified death certificate;
2. a certified decree of a court of competent jurisdiction as to the
finding of death; or
3. any other proof satisfactory to the Company.
All death benefits will be paid in accordance with applicable law or
regulations governing death benefit payments.
Beneficiary
The Beneficiary designation in effect on the Issue Date will remain in
effect until changed. Unless the Contract Owner provides otherwise, the death
benefit will be paid in equal shares to the survivor(s) as follows:
1. to the Primary Beneficiary(ies) who survive the Contract Owner's and/or
the Annuitant's death, as applicable; or if there are none
2. to the Contingent Beneficiary(ies) who survive the Contract Owner's
and/or the Annuitant's death, as applicable; or if there are none
3. to the estate of the Contract Owner.
Beneficiaries may be named irrevocably. A change of Beneficiary requires
the consent of any irrevocable Beneficiary. If an irrevocable Beneficiary is
named, the Contract Owner retains all other contractual rights.
12
Change of Beneficiary
Subject to the rights of any irrevocable Beneficiary(ies), the Contract
Owner may change the Primary Beneficiary(ies) or Contingent Beneficiary(ies). A
change may be made by Written Request. The change will take effect as of the
date the notice is signed. The Company will not be liable for any payment made
or action taken before it records the change.
SUSPENSION OR DEFERRAL OF PAYMENTS PROVISION
The Company reserves the right to suspend or postpone payments for a
withdrawal or transfer for any period when:
1. The New York Stock Exchange is closed (other than customary weekend and
holiday closings);
2. Trading on the New York Stock Exchange is restricted;
3. An emergency exists as a result of which disposal of securities held in
the Separate Account is not reasonably practicable or it is not
reasonably practicable to determine the value of the Separate Account's
net assets; or
4. During any other period when the Securities and Exchange Commission, by
order, so permits for the protection of Contract Owners;
provided that applicable rules and regulations of the Securities and Exchange
Commission will govern as to whether the conditions described in (2) and (3)
exist.
ANNUITANT, OWNERSHIP, ASSIGNMENT PROVISIONS
Annuitant
The Annuitant is the person on whose life Annuity Payments are based. The
Annuitant is the person designated by the Contract Owner at the Issue Date,
unless changed prior to the Annuity Date. The Annuitant may not be changed in a
Contract which is owned by a non-natural person. Any change of Annuitant is
subject to the Company's underwriting rules then in effect.
Contract Owner
The Contract Owner has all right under this Contract. The Contract Owner is
the person designated as such on the Issue Date, unless changed.
The Contract Owner may change owners at any time prior to the Annuity Date
by Written Request. A change of Contract Owner will automatically revoke any
prior designation of Contract Owner. The change will become effective as of the
date the Written Request is signed. A new designation of Contract Owner will
not apply to any payment made or action taken by the Company prior to the time
it was received.
Joint Contract Owners
The Contract can be owned by Joint Contract Owners. If Joint Contract Owners
are named, any Joint Contract Owner must be the spouse of the other Contract
Owner. Upon the death of either Contract Owner, the surviving spouse will be
the Primary Beneficiary. Any other Beneficiary designation will be treated as a
Contingent Beneficiary unless otherwise indicated in a Written Request.
Assignment of the Contract
A Written Request specifying the terms of an assignment of this Contract
must be provided to the Annuity Service Center. Until the Written Request is
received, the Company will not be required to take notice of or be responsible
for any transfer of interest in this Contract by assignment, agreement, or
otherwise.
13
The Company will not be responsible for the validity or tax consequences of
any assignment. Any assignment made after the death benefit has become payable
will be valid only with the Company's consent.
If this Contract is assigned, the Contract Owner's rights may only be
exercised with the consent of the assignee of record.
GENERAL PROVISIONS
The Contract
The entire Contract consists of this Contract, any Application and any
riders or endorsements attached to this Contract.
Contract Changes by the Company
The Company reserves the right to amend this Contract to meet the
requirements of any applicable federal or state laws or regulations, or as
otherwise provided in this Contract. The Company will notify the Contract Owner
in writing of such amendments.
Any changes to this Contract by the Company must be signed by an authorized
officer of the Company. Agents of the Company have no authority to alter or
modify any of the terms, conditions, agreements of this Contract, or to waive
any of its provisions.
Contract Changes by the Contract Owner
The Contract Owner may, subject to the Company's underwriting rules then in
effect and in accordance with the provisions of this Contract, by Written
Request:
1. change the Contract Owner;
2. change the Annuity Date and/or the Annuity Option at any time up to
thirty (30) calendar days before the current Annuity Date, provided the
Annuitant is then living;
3. change the Beneficiary; or
4. change the Annuitant, prior to the Annuity Date.
A change of Annuitant, Annuity Date and Annuity Option will take effect on
the date the Written Request is received.
Contract Termination
This Contract will terminate upon the occurrence of any of the following
events:
1. the date of the last Annuity Payment;
2. the date payment is made of the entire Contract Value;
3. the date of the last death benefit payment to the last Beneficiary;
4. the date the Contract is returned under the Right to Examine Contract
provision.
Incontestability
The Company shall not contest the validity of this Contract.
Misstatement of Age or Sex
If the Annuitant's Age or sex has been incorrectly stated, the Annuity
Payment payable will be that which the Contract Value, reduced by any
applicable Premium Tax, Annual Contract Maintenance Charge, and
14
Contingent Deferred Sales Charge, would have purchased at the correct Age and
sex. After correction, the Annuitant will receive the sum of any underpayments
made by the Company within thirty (30) calendar days. The amount of any
overpayments made by the Company will be charged against the payment(s)
following the correction.
Non-Business Days
If the due date for any activity required by the Contract falls on a non-
business day for the Company, performance will be rendered on the first
business day following the due date.
Non-Participating
This Contract is non-participating and will not share in any surplus
earnings of the Company. No dividends are payable on this Contract.
Protection of Proceeds
To the extent permitted by law, all payments under this Contract shall be
free from legal process and the claim of any creditor if the person is entitled
to them under this Contract. No payment and no amount under this Contract can
be taken or assigned in advance of its payment date unless the Company receives
the Contract Owner's written consent.
Regulatory Requirements
All values payable under this Contract will not be less than the minimum
benefits required by the laws and regulations of the state in which the
Contract is delivered.
Reports
Each year the Company will provide to the Contract Owner an accounting of
Purchase Payments, transfers, withdrawals, charges applicable to this Contract,
and any other information required under state or federal law.
Premium and Other Taxes
Any Premium Taxes relating to this Contract may be deducted from the
Purchase Payments or Contract Value when incurred. The Company will, in its
sole discretion, determine when Premium Taxes have resulted from: the
investment experience of the Separate Account; receipt by the Company of the
Purchase Payments; or commencement of Annuity Payments. The Company may, at its
sole discretion, pay such Premium Taxes when due and deduct that amount from
the Contract Value at a later date. Payment at an earlier date does not waive
any right the Company may have to deduct amounts at a later date.
The Company will deduct any withholding taxes required by applicable law.
The Company reserves the right to establish a provision for federal income
taxes if it determines, in its sole discretion, that it will incur a tax as a
result of the operation of the Separate Account. The Company will deduct for
any income taxes incurred by it as a result of the operation of the Separate
Account whether or not there was a provision for taxes and whether or not it
was sufficient.
15
ANNUITY PROVISIONS
Annuity Guidelines
Once the Contract reaches the Annuity Date, the following guidelines apply:
1. The Contract Owner may elect to have the Contract Value applied to
provide a Variable Annuity, a Fixed Annuity, or a combination Fixed and
Variable Annuity. If a combination is elected, the Contract Owner must
specify what part of the Contract Value is to be applied to the Fixed
and Variable options.
2. The amount applied to an Annuity Option on the Annuity Date, excluding
any death benefit proceeds applied to an Annuity Option, is equal to the
Contract Value minus any applicable Premium Tax, Annual Contract
Maintenance Charge and Contingent Deferred Sales Charge shown on the
Contract Schedule.
3. The minimum amount that may be applied under any Annuity Option, and the
minimum periodic Annuity Payment allowed, are set forth on the Contract
Schedule in the Annuity Guideline Parameters.
4. Contract Owners select an Annuity Date at the Issue Date. Contract
Owners may change the Annuity Date at any time up to thirty (30)
calendar days prior to the current Annuity Date by Written Request. Any
Annuity Date selected is subject to the Annuity Guideline Parameters set
forth on the Contract Schedule.
5. If no Annuity Option has been chosen at least thirty (30) calendar days
before the Annuity Date, the Company will make payments to the Annuitant
under Option B, with 10 years of payments guaranteed. Unless specified
otherwise, the Contract Value shall be used to provide a Variable
Annuity.
Annuity Payments
The Company will make Annuity Payments beginning on the Annuity Date,
provided no death benefit has become payable and the Contract Owner has by
Written Request selected an available Annuity Option and payment schedule.
Except as otherwise agreed to by the Contract Owner and the Company, Annuity
Payments will be payable monthly. The Annuity Option and frequency of Annuity
Payments may not be changed by the Contract Owner after Annuity Payments begin.
Unless the Contract Owner specifies otherwise, the payee of the Annuity
Payments shall be the Annuitant.
If the amount of the Annuity Payment will depend on the Age or sex of the
Annuitant, the Company reserves the right to ask for satisfactory proof of the
Annuitant's (or Joint Annuitant's, if any) Age and sex. The Company reserves
the right to delay Annuity Payments until acceptable proof is received.
▇▇▇▇▇ ▇▇▇▇▇▇▇
A Fixed Annuity provides for payments which do not fluctuate based on
investment performance.
The Fixed Annuity shall be determined by applying the Annuity Purchase Rates
set forth in the Fixed Annuity Rate Tables below to the portion of the Contract
Value allocated to the Fixed Annuity Option selected by the Contract Owner.
Variable Annuity
A Variable Annuity provides for payments which may fluctuate based on the
investment performance of the Sub-Accounts of the Separate Account. Variable
Annuity Payments will be based on the allocation of the Contract Value among
the Sub-Accounts.
16
Annuity Units and Payments
The dollar amount of each Variable Annuity payment depends on the number of
Annuity Units credited to that Annuity Option, and the value of those Units.
The number of Annuity Units is determined as follows:
1. The number of Annuity Units credited in each Sub-Account will be
determined by dividing the product of the portion of the Contract Value
to be applied to the Sub-Account and the Annuity Purchase Rate by the
value of one Annuity Unit in that Sub-Account on the Annuity Date. The
purchase rates are set forth in the Variable Annuity Rate Tables below.
2. For each Sub-Account, the amount of each Annuity Payment equals the
product of the Annuitant's number of Annuity Units and the Annuity Unit
Value on the payment date. The amount of each payment may vary.
Annuity Unit Value
The value of any Annuity Unit for each Sub-Account of the Separate Account
was arbitrarily set initially at $10.
The Sub-Account Annuity Unit Value at the end of any subsequent Valuation
Period is determined as follows:
1. The Net Investment Factor for the current Valuation Period is multiplied
by the value of the Annuity Unit for the Sub-Account for the immediately
preceding Valuation Period.
2. The result in (1) is then divided by an assumed investment factor. The
assumed investment rate factor equals 1.00 plus the assumed investment
rate for the number of days since the preceding Valuation Date. Assumed
investment rate is based on an effective annual rate of 4%.
The value of an Annuity Unit may increase or decrease from Valuation Period
to Valuation Period.
Annuity Options
The Contract Owner may choose periodic fixed and/or variable Annuity
Payments under any one of the Annuity Options described below. The Company may
consent to other plans of payment before the Annuity Date.
The following Annuity Options are available:
Annuity Option A--Life Income
Periodic payments will be made as long as the Annuitant lives.
Annuity Option B--Life Income with Period Certain
Periodic payments will be made for a guaranteed period, or as long as the
Annuitant lives, whichever is longer. The guaranteed period may be five (5),
ten (10) or twenty (20) years. If the Beneficiary does not desire payments to
continue for the remainder of the guaranteed period, he/she may elect to have
the present value of the guaranteed annuity payments remaining commuted and
paid in a lump sum.
Annuity Option C--Joint and Last Survivor Payments
Periodic payments will be made during the joint lifetime of two Annuitants
continuing in the same amount during the lifetime of the surviving Annuitant.
17
Annuity Option D--Joint and 2/3 Survivor Annuity
Periodic payments will be made during the joint lifetime of two Annuitants.
Payments will continue during the lifetime of the surviving Annuitant and will
be computed on the basis of two-thirds of the annuity payment (or Units) in
effect during the joint lifetime.
Annuity Option E--Period Certain
Periodic payments will be made for a specified period. The specified period
must be at least five (5) years and cannot be more than thirty (30) years. If
the Contract Owner does not desire payments to continue for the remainder of
the guaranteed period, he/she may elect to have the present value of the
remaining payments commuted and paid in a lump sum or as an Annuity Option
purchased at the date of such election.
Annuity Option F--Special Income Settlement Agreement
The Company will pay the proceeds in accordance with terms agreed upon in
writing by the Contract Owner and the Company.
18
ANNUITY RATES
Fixed Annuity Rates
Notes to Tables
Table 1--Annuity Options A and B
Table 2--Annuity Option C
Table 3--Annuity Option D
Table 4--Annuity Option E
Note 1: If the single premium immediate annuity rates offered by the Company
and designated by the Company for this purpose on the Annuity Date are
more favorable than the minimum guaranteed rates used to develop Tables
1, 2, 3 or 4, those rates will be used.
Note 2: The 1983 Table "a" mortality table, projected to the year 2015 with
Projection Scale G, applies to all Annuity Options which include life
contingent payments. Where applicable, unisex mortality rates and
projection factors are based on a 40%/60% male/female weighting.
Note 3: The Annuity Option rates shown in Tables 1, 2, 3, and 4 are based on an
effective annual interest rate of 3%.
Note 4: Rates will be determined based on the age(s) of any Annuitant(s) on
his/her birthday nearest the Annuity Date. The tables below show
Annuity Option rates based on age nearest birthday.
Note 5: The purchase rate for any age or combination of ages not shown in the
tables below will be calculated on the same basis as the payments for
those shown and may be obtained by Written Request.
19
FIXED ANNUITY RATES
TABLE 1--OPTIONS A & B
MONTHLY PAYMENT PER $1,000
MALE FEMALE
------------------------------------- -------------------------------------
Life 5 Yrs 10 Yrs 20 Yrs Life 5 Yrs 10 Yrs 20 Yrs
Age Only C&L C&L C&L Only C&L C&L C&L Age
--- ----- ----- ------ ------ ---- ----- ------ ------ ---
50 3.94 3.93 3.91 3.84 3.64 3.64 3.63 3.60 50
51 4.00 3.99 3.97 3.89 3.69 3.69 3.68 3.64 51
52 4.07 4.06 4.04 3.94 3.74 3.74 3.73 3.69 52
53 4.13 4.13 4.10 4.00 3.80 3.79 3.78 3.74 53
54 4.21 4.20 4.17 4.06 3.85 3.85 3.84 3.79 54
55 4.29 4.28 4.25 4.11 3.92 3.91 3.90 3.84 55
56 4.37 4.36 4.32 4.17 3.98 3.98 3.96 3.90 56
57 4.45 4.44 4.40 4.23 4.05 4.04 4.03 3.95 57
58 4.54 4.53 4.49 4.30 4.12 4.11 4.10 4.01 58
59 4.64 4.63 4.58 4.36 4.20 4.19 4.17 4.07 59
60 4.74 4.73 4.67 4.42 4.28 4.27 4.25 4.13 60
61 4.85 4.84 4.77 4.49 4.36 4.35 4.33 4.20 61
62 4.97 4.95 4.88 4.56 4.45 4.44 4.41 4.27 62
63 5.10 5.07 4.99 4.62 4.55 4.54 4.50 4.33 63
64 5.23 5.20 5.11 4.69 4.65 4.64 4.60 4.40 64
65 5.37 5.34 5.23 4.75 4.76 4.75 4.70 4.47 65
66 5.53 5.49 5.35 4.82 4.88 4.86 4.81 4.55 66
67 5.69 5.64 5.49 4.88 5.00 4.98 4.92 4.62 67
68 5.86 5.81 5.63 4.94 5.13 5.11 5.04 4.69 68
69 6.05 5.98 5.77 5.00 5.28 5.25 5.17 4.76 69
70 6.25 6.17 5.92 5.06 5.43 5.40 5.30 4.83 70
71 6.45 6.36 6.07 5.11 5.60 5.56 5.44 4.90 71
72 6.67 6.56 6.23 5.16 5.77 5.73 5.59 4.97 72
73 6.91 6.78 6.39 5.21 5.97 5.92 5.75 5.03 73
74 7.16 7.00 6.56 5.25 6.16 6.11 5.91 5.09 74
75 7.42 7.24 6.72 5.29 6.40 6.33 6.08 5.15 75
76 7.71 7.49 6.90 5.33 6.64 6.55 6.26 5.20 76
77 8.01 7.76 7.07 5.36 6.90 6.79 6.44 5.25 77
78 8.34 8.04 7.24 5.38 7.17 7.04 6.63 5.29 78
79 8.69 8.33 7.42 5.41 7.47 7.31 6.82 5.32 79
80 9.06 8.64 7.59 5.43 7.79 7.59 7.01 5.36 80
81 9.46 8.95 7.77 5.45 8.14 7.90 7.21 5.39 81
82 9.88 9.29 7.94 5.46 8.51 8.22 7.40 5.41 82
83 10.34 9.63 8.10 5.47 8.92 8.56 7.59 5.43 83
84 10.82 9.99 8.25 5.48 9.35 8.91 7.78 5.45 84
85 11.34 10.36 8.40 5.49 9.83 9.29 7.96 5.47 85
20
FIXED ANNUITY RATES
TABLE 2--OPTION C
MONTHLY PAYMENT PER $1,000
MALE/FEMALE JOINT AND SURVIVOR ANNUITY
FEMALE AGE
MALE ------------------------------------------------- MALE
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.11 3.16 3.24 3.30 3.34 3.38 3.40 3.42 3.43 3.44 40
45 3.15 3.24 3.33 3.41 3.48 3.54 3.58 3.61 3.63 3.65 45
50 3.16 3.29 3.41 3.52 3.63 3.72 3.79 3.84 3.88 3.90 50
55 3.21 3.33 3.48 3.63 3.77 3.91 4.02 4.11 4.16 4.22 55
60 3.22 3.36 3.53 3.71 3.91 4.10 4.28 4.43 4.55 4.63 60
65 3.24 3.39 3.57 3.78 4.02 4.28 4.55 4.79 4.99 5.14 65
70 3.24 3.40 3.59 3.83 4.11 4.44 4.79 5.16 5.50 5.77 70
75 3.25 3.41 3.61 3.86 4.17 4.55 5.00 5.51 6.01 6.47 75
80 3.25 3.42 3.62 3.88 4.21 4.64 5.16 5.80 6.51 7.22 80
85 3.25 3.42 3.63 3.90 4.24 4.69 5.27 6.03 6.94 7.94 85
MALE(1) MALE(2) JOINT AND SURVIVOR ANNUITY
MALE(2) AGE
MALE(1) ------------------------------------------------- MALE(1)
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.17 3.24 3.29 3.33 3.37 3.40 3.41 3.43 3.44 3.44 40
45 3.24 3.32 3.40 3.47 3.53 3.57 3.60 3.63 3.64 3.65 45
50 3.29 3.40 3.51 3.61 3.70 3.77 3.83 3.87 3.89 3.91 50
55 3.33 3.47 3.61 3.75 3.89 4.00 4.09 4.16 4.21 4.24 55
60 3.37 3.53 3.70 3.89 4.07 4.25 4.40 4.52 4.60 4.66 60
65 3.40 3.57 3.77 4.00 4.25 4.50 4.73 4.93 5.09 5.20 65
70 3.41 3.60 3.83 4.09 4.40 4.73 5.08 5.40 5.67 5.88 70
75 3.43 3.63 3.87 4.16 4.52 4.93 5.40 5.87 6.31 6.67 75
80 3.44 3.64 3.89 4.21 4.60 5.09 5.67 6.31 6.96 7.57 80
85 3.44 3.65 3.91 4.24 4.66 5.20 5.88 6.67 7.57 8.48 85
FEMALE(1) FEMALE(2) JOINT AND SURVIVOR ANNUITY
FEMALE(2) AGE
FEMALE(1) ------------------------------------------------- FEMALE(1)
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.06 3.11 3.15 3.19 3.21 3.23 3.24 3.25 3.25 3.25 40
45 3.11 3.19 3.25 3.30 3.34 3.37 3.39 3.40 3.41 3.42 45
50 3.15 3.25 3.34 3.42 3.49 3.54 3.58 3.60 3.62 3.63 50
55 3.19 3.30 3.42 3.54 3.64 3.73 3.79 3.84 3.87 3.89 55
60 3.21 3.34 3.49 3.64 3.79 3.93 4.05 4.13 4.19 4.23 60
65 3.23 3.37 3.54 3.73 3.93 4.13 4.32 4.47 4.59 4.66 65
70 3.24 3.39 3.58 3.79 4.05 4.32 4.60 4.86 5.06 5.21 70
75 3.25 3.40 3.60 3.84 4.13 4.47 4.86 5.25 5.62 5.91 75
80 3.25 3.41 3.62 3.87 4.19 4.59 5.06 5.62 6.16 6.70 80
85 3.25 3.42 3.63 3.89 4.23 4.66 5.21 5.91 6.70 7.52 85
21
FIXED ANNUITY RATES
TABLE 3--OPTION D
MONTHLY PAYMENT PER $1,000
MALE/FEMALE JOINT AND 2/3 ANNUITY
FEMALE AGE
MALE ------------------------------------------------- FEMALE
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.21 3.26 3.31 3.35 3.38 3.40 3.42 3.43 3.44 3.44 40
45 3.30 3.37 3.43 3.49 3.54 3.58 3.61 3.63 3.64 3.65 45
50 3.40 3.48 3.57 3.65 3.73 3.79 3.84 3.87 3.90 3.91 50
55 3.50 3.60 3.71 3.82 3.93 4.03 4.11 4.17 4.21 4.24 55
60 3.61 3.73 3.86 4.00 4.15 4.30 4.43 4.53 4.61 4.67 60
65 3.73 3.86 4.02 4.19 4.39 4.59 4.79 4.97 5.11 5.22 65
70 3.86 4.01 4.19 4.40 4.64 4.91 5.20 5.48 5.73 5.92 70
75 4.00 4.16 4.36 4.60 4.89 5.23 5.61 6.03 6.42 6.76 75
80 4.14 4.31 4.53 4.80 5.13 5.54 6.03 6.59 7.19 7.74 80
85 4.27 4.46 4.69 4.99 5.36 5.83 6.42 7.14 7.97 8.82 85
MALE(1) MALE(2) JOINT AND 2/3 ANNUITY
MALE(2) AGE
MALE(1) ------------------------------------------------- MALE(1)
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.26 3.30 3.34 3.37 3.40 3.41 3.43 3.44 3.44 3.45 40
45 3.37 3.43 3.48 3.53 3.57 3.60 3.62 3.64 3.65 3.65 45
50 3.48 3.56 3.64 3.71 3.78 3.83 3.86 3.89 3.91 3.92 50
55 3.60 3.71 3.81 3.92 4.01 4.09 4.16 4.20 4.23 4.26 55
60 3.73 3.86 3.99 4.14 4.27 4.40 4.51 4.59 4.65 4.69 60
65 3.87 4.02 4.19 4.37 4.57 4.76 4.93 5.07 5.16 5.26 65
70 4.02 4.19 4.40 4.63 4.88 5.15 5.42 5.65 5.85 6.00 70
75 4.16 4.37 4.60 4.88 5.19 5.55 5.94 6.31 6.64 6.91 75
80 4.33 4.55 4.81 5.12 5.50 5.96 6.48 7.02 7.54 8.01 80
85 4.48 4.72 5.00 5.36 5.80 6.34 7.00 7.73 8.51 9.26 85
FEMALE(1) FEMALE(2) JOINT AND 2/3 ANNUITY
FEMALE(2) AGE
FEMALE(1) ------------------------------------------------- FEMALE(1)
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.12 3.16 3.19 3.21 3.23 3.24 3.24 3.25 3.25 3.25 40
45 3.21 3.26 3.31 3.34 3.37 3.39 3.40 3.41 3.42 3.42 45
50 3.30 3.37 3.43 3.49 3.54 3.57 3.60 3.61 3.63 3.63 50
55 3.40 3.48 3.57 3.66 3.73 3.79 3.83 3.87 3.89 3.90 55
60 3.50 3.60 3.72 3.83 3.94 4.04 4.12 4.16 4.22 4.24 60
65 3.61 3.73 3.87 4.02 4.17 4.32 4.46 4.57 4.64 4.69 65
70 3.74 3.88 4.04 4.22 4.42 4.64 4.85 5.03 5.16 5.29 70
75 3.88 4.03 4.22 4.43 4.69 4.97 5.28 5.59 5.86 6.06 75
80 4.03 4.20 4.40 4.65 4.95 5.31 5.73 6.19 6.64 7.03 80
85 4.19 4.37 4.59 4.87 5.22 5.65 6.16 6.81 7.49 8.16 85
22
FIXED ANNUITY RATES
TABLE 4--OPTION E
MONTHLY PAYMENT PER $1000
YEARS MONTHLY INCOME
----- --------------
5 $17.91
6 15.14
7 13.16
8 11.68
9 10.53
10 9.61
11 8.86
12 8.24
13 7.71
14 7.26
15 6.87
16 6.53
17 6.23
16 5.96
19 5.73
20 5.51
21 5.32
22 5.15
23 4.99
24 4.84
25 4.71
26 4.59
27 4.47
28 4.37
29 4.27
30 4.16
23
ANNUITY RATES
Variable Annuity Rates
Notes to Tables
Table 5--Annuity Options A and B
Table 6--Annuity Option C
Table 7--Annuity Option D
Table 8--Annuity Option E
Note 1: The 1983 Table "a" mortality table, projected to the year 2015 with
Projection Scale G, applies to all Annuity Options which include life
contingent payments. Where applicable, unisex mortality rates and
projection factors are based on a 40%/60% male/female weighting.
Note 2: The Annuity Option rates shown in Tables 5, 6, 7 and 8 are based on an
assumed effective annual interest rate of 4%.
Note 3: Rates will be determined based on the age(s) of any Annuitant(s) on
his/her birthday nearest the Annuity Date. The tables below show
Annuity Option rates based on age nearest birthday.
Note 4: The purchase rate for any age or combination of ages not shown in the
tables below will be calculated on the same basis as the payments for
those shown and may be obtained by Written Request.
24
VARIABLE ANNUITY RATES
TABLE 5--OPTIONS A & B
MONTHLY PAYMENT PER $1,000
MALE FEMALE
------------------------------------- --------------------------------------
Life 5 Yrs 10 Yrs 20 Yrs Life 5 Yrs 10 Yrs 20 Yrs
Age Only C&L C&L C&L Only C&L C&L C&L Age
--- ----- ----- ------ ------ ----- ----- ------ ------ ---
50 4.53 4.53 4.51 4.42 4.24 4.24 4.23 4.19 50
51 4.60 4.59 4.56 4.47 4.29 4.29 4.28 4.23 51
52 4.66 4.65 4.63 4.52 4.34 4.33 4.32 4.28 52
53 4.73 4.72 4.69 4.57 4.39 4.39 4.38 4.32 53
54 4.80 4.79 4.76 4.62 4.45 4.44 4.43 4.37 54
55 4.88 4.86 4.83 4.68 4.51 4.50 4.49 4.42 55
56 4.95 4.94 4.90 4.74 4.57 4.56 4.54 4.47 56
57 5.04 5.02 4.98 4.79 4.63 4.63 4.61 4.52 57
58 5.13 5.11 5.06 4.85 4.70 4.70 4.67 4.58 58
59 5.22 5.21 5.15 4.91 4.78 4.77 4.74 4.64 59
60 5.33 5.31 5.24 4.97 4.86 4.85 4.82 4.70 60
61 5.44 5.41 5.34 5.04 4.94 4.93 4.90 4.76 61
62 5.55 5.53 5.44 5.10 5.03 5.02 4.98 4.82 62
63 5.68 5.65 5.55 5.16 5.12 5.11 5.07 4.89 63
64 5.81 5.78 5.67 5.22 5.22 5.21 5.16 4.95 64
65 5.96 5.91 5.79 5.28 5.33 5.31 5.26 5.02 65
66 6.11 6.06 5.91 5.35 5.45 5.43 5.37 5.09 66
67 6.27 6.22 6.04 5.40 5.57 5.55 5.48 5.15 67
68 6.45 6.38 6.16 5.46 5.70 5.68 5.60 5.22 68
69 6.63 6.55 6.32 5.52 5.85 5.82 5.72 5.29 69
70 6.83 6.74 6.46 5.57 6.00 5.96 5.85 5.36 70
71 7.04 6.93 6.61 5.62 6.16 6.12 5.99 5.42 71
72 7.26 7.13 6.77 5.67 6.34 6.29 6.14 5.49 72
73 7.50 7.34 6.92 5.71 6.54 6.48 6.29 5.55 73
74 7.75 7.57 7.09 5.76 6.74 6.67 6.45 5.60 74
75 8.02 7.81 7.25 5.79 6.97 6.89 6.62 5.66 75
76 8.30 8.06 7.42 5.83 7.22 7.11 6.79 5.71 76
77 8.61 8.32 7.59 5.86 7.47 7.35 6.97 5.75 77
78 8.94 8.60 7.76 5.88 7.75 7.60 7.15 5.79 78
79 9.29 8.89 7.93 5.90 8.05 7.87 7.34 5.82 79
80 9.66 9.20 8.10 5.92 8.37 8.15 7.53 5.86 80
81 10.06 9.51 8.27 5.94 8.72 8.45 7.72 5.88 81
82 10.49 9.84 8.43 5.95 9.10 8.77 7.91 5.91 82
83 10.95 10.16 8.59 5.97 9.51 9.11 8.10 5.93 83
84 11.43 10.54 8.74 5.98 9.95 9.47 8.28 5.94 84
85 11.95 10.90 8.88 5.98 10.42 9.84 8.45 5.96 85
25
VARIABLE ANNUITY RATES
TABLE 6--OPTION C
MONTHLY PAYMENT PER $1,000
MALE/FEMALE JOINT AND SURVIVOR ANNUITY
FEMALE AGE
MALE ------------------------------------------------- MALE
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.73 3.80 3.86 3.91 3.95 3.98 4.01 4.03 4.05 4.05 40
45 3.77 3.85 3.93 4.01 4.08 4.13 4.16 4.21 4.23 4.25 45
50 3.80 3.90 4.01 4.11 4.21 4.30 4.37 4.43 4.47 4.49 50
55 3.83 3.94 4.07 4.21 4.35 4.48 4.59 4.69 4.76 4.80 55
60 3.84 3.97 4.12 4.29 4.48 4.66 4.84 4.99 5.11 5.20 60
65 3.86 3.99 4.16 4.36 4.59 4.84 5.10 5.34 5.54 5.70 65
70 3.87 4.01 4.19 4.41 4.68 4.99 5.34 5.70 6.04 6.31 70
75 3.87 4.02 4.21 4.44 4.74 5.11 5.55 6.04 6.55 7.01 75
80 3.88 4.03 4.22 4.47 4.79 5.19 5.71 6.34 7.04 7.75 80
85 3.88 4.03 4.23 4.48 4.81 5.25 5.82 6.57 7.47 8.47 85
MALE(1) MALE(2) JOINT AND SURVIVOR ANNUITY
MALE(2) AGE
MALE(1) ------------------------------------------------- MALE(1)
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.79 3.85 3.90 3.94 3.98 4.01 4.03 4.04 4.05 4.06 40
45 3.85 3.93 4.00 4.07 4.12 4.17 4.20 4.23 4.24 4.25 45
50 3.90 4.00 4.10 4.20 4.28 4.36 4.41 4.45 4.48 4.50 50
55 3.94 4.07 4.20 4.33 4.46 4.57 4.67 4.74 4.79 4.82 55
60 3.98 4.12 4.28 4.46 4.64 4.81 4.96 5.08 5.17 5.23 60
65 4.01 4.17 4.36 4.57 4.81 5.05 5.28 5.48 5.65 5.76 65
70 4.03 4.20 4.41 4.67 4.96 5.28 5.62 5.94 6.22 6.43 70
75 4.04 4.23 4.45 4.74 5.08 5.48 5.94 6.40 6.84 7.22 75
80 4.05 4.24 4.48 4.79 5.17 5.65 6.22 6.84 7.50 8.11 80
85 4.06 4.25 4.50 4.82 5.23 5.76 6.43 7.22 8.11 9.02 85
FEMALE(1) FEMALE(2) JOINT AND SURVIVOR ANNUITY
FEMALE(2) AGE
FEMALE(1) ------------------------------------------------- FEMALE(1)
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.69 3.74 3.78 3.81 3.83 3.85 3.86 3.87 3.87 3.88 40
45 3.74 3.80 3.86 3.91 3.95 3.98 4.00 4.01 4.02 4.03 45
50 3.78 3.86 3.94 4.02 4.08 4.13 4.17 4.19 4.21 4.22 50
55 3.81 3.91 4.02 4.12 4.22 4.31 4.37 4.42 4.45 4.48 55
60 3.83 3.95 4.08 4.22 4.37 4.50 4.61 4.70 4.76 4.80 60
65 3.85 3.98 4.13 4.31 4.50 4.69 4.87 5.03 5.14 5.22 65
70 3.86 4.00 4.17 4.37 4.61 4.87 5.14 5.40 5.61 5.76 70
75 3.87 4.01 4.19 4.42 4.70 5.03 5.40 5.79 6.15 6.45 75
80 3.87 4.02 4.21 4.45 4.76 5.14 5.61 6.15 6.71 7.23 80
85 3.88 4.03 4.22 4.48 4.80 5.22 5.76 6.45 7.23 8.05 85
26
VARIABLE ANNUITY RATES
TABLE 7 -- OPTION D
MONTHLY PAYMENT PER $1,000
MALE/FEMALE JOINT AND 2/3 ANNUITY
FEMALE AGE
MALE ------------------------------------------------- MALE
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.84 3.88 3.92 3.96 3.99 4.01 4.03 4.04 4.05 4.06 40
45 3.93 3.98 4.04 4.09 4.14 4.16 4.21 4.23 4.25 4.26 45
50 4.02 4.09 4.17 4.24 4.31 4.37 4.42 4.46 4.49 4.51 50
55 4.12 4.21 4.31 4.41 4.51 4.60 4.68 4.75 4.79 4.83 55
60 4.24 4.34 4.46 4.59 4.73 4.86 4.99 5.10 5.16 5.24 60
65 4.37 4.49 4.62 4.79 4.97 5.16 5.35 5.53 5.67 5.78 65
70 4.52 4.65 4.81 5.00 5.23 5.48 5.76 6.04 6.28 6.48 70
75 4.68 4.82 5.00 5.22 5.49 5.81 6.16 6.58 6.97 7.31 75
80 4.84 5.00 5.20 5.44 5.75 6.14 6.61 7.16 7.74 8.30 80
85 5.01 5.16 5.39 5.66 6.01 6.46 7.03 7.73 8.54 9.38 85
MALE(1) MALE(2) JOINT AND 2/3 ANNUITY
MALE(2) AGE
MALE(1) ------------------------------------------------- MALE(1)
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.88 3.92 3.96 3.99 4.01 4.03 4.04 4.05 4.06 4.06 40
45 3.98 4.04 4.09 4.13 4.17 4.20 4.22 4.24 4.25 4.26 45
50 4.09 4.17 4.24 4.31 4.36 4.41 4.45 4.48 4.50 4.51 50
55 4.21 4.31 4.40 4.50 4.59 4.67 4.73 4.78 4.82 4.84 55
60 4.35 4.46 4.58 4.71 4.85 4.97 5.07 5.16 5.22 5.26 60
65 4.50 4.63 4.78 4.96 5.14 5.32 5.49 5.63 5.74 5.83 65
70 4.67 4.82 5.00 5.22 5.46 5.72 5.98 6.21 6.41 6.56 70
75 4.84 5.02 5.23 5.48 5.78 6.13 6.50 6.86 7.19 7.47 75
80 5.02 5.22 5.46 5.76 6.12 6.55 7.06 7.58 8.10 8.57 80
85 5.20 5.42 5.68 6.02 6.44 6.96 7.60 8.32 9.08 9.82 85
FEMALE(1) FEMALE(2) JOINT AND 2/3 ANNUITY
FEMALE(2) AGE
FEMALE(1) ------------------------------------------------- FEMALE(1)
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------
40 3.76 3.79 3.81 3.83 3.85 3.86 3.87 3.87 3.88 3.88 40
45 3.83 3.88 3.92 3.95 3.98 4.00 4.01 4.02 4.03 4.03 45
50 3.92 3.98 4.04 4.09 4.13 4.17 4.19 4.21 4.22 4.23 50
55 4.01 4.09 4.17 4.24 4.31 4.37 4.42 4.45 4.47 4.49 55
60 4.12 4.21 4.31 4.42 4.52 4.61 4.69 4.75 4.79 4.82 60
65 4.24 4.35 4.47 4.60 4.75 4.89 5.02 5.12 5.20 5.26 65
70 4.38 4.50 4.64 4.81 5.00 5.20 5.40 5.59 5.73 5.84 70
75 4.54 4.67 4.84 5.04 5.27 5.54 5.84 6.14 6.40 6.61 75
80 4.72 4.87 5.05 5.28 5.56 5.90 6.30 6.75 7.19 7.58 80
85 4.90 5.07 5.27 5.53 5.85 6.26 6.77 7.39 8.05 8.71 85
27
VARIABLE ANNUITY RATES
TABLE 8--OPTION E
MONTHLY PAYMENT PER $1000
YEARS MONTHLY INCOME
----- --------------
5 $16.35
6 15.59
7 13.62
8 12.14
9 11.00
10 10.09
11 9.34
12 8.72
13 8.20
14 7.75
15 7.37
16 7.03
17 6.74
16 6.48
19 6.24
20 6.03
21 5.85
22 5.68
23 5.52
24 5.38
25 5.26
26 5.14
27 5.03
28 4.93
29 4.84
30 4.75
28
INDIVIDUAL VARIABLE DEFERRED ANNUITY CONTRACT
WITH FLEXIBLE PURCHASE PAYMENTS
Non-participating
ANNUITY PAYMENTS, WITHDRAWAL VALUES AND THE DEATH BENEFITS PROVIDED BY THIS
CONTRACT, WHEN BASED ON THE INVESTMENT EXPERIENCE OF THE SEPARATE ACCOUNT, ARE
VARIABLE AND ARE NOT GUARANTEED AS TO DOLLAR AMOUNT.
29
CONTRACT SCHEDULE
Revision Date:
Contract Owner: Age and Sex:
Annuitant: Age and Sex:
Contract Number: Issue Date:
Annuity Date:
Beneficiary: As designated by the Contract Owner at the Issue Date, unless
changed in accordance with the Contract.
Purchase Payments:
Initial Purchase Payment:
Minimum Subsequent Purchase Payment: $50, or less than $50 subject to
Company approval.
Maximum Total Purchase Payments: For Contract Owners up to Age 75 on the
Issue Date, the maximum total Purchase Payments are $1,000,000; for
Contract Owners over Age 75 on the Issue Date, the maximum total Purchase
Payments are $500,000. Purchase Payments above these amounts must be
preapproved by the Company. For Joint Contract Owners, Age refers to the
oldest Joint Contract Owner.
Allocation Guidelines:
1. There are currently no limitations on the number of Sub-Accounts that
can be selected by a Contract Owner. However, we reserve the right to
limit the number of Sub-Accounts that you may invest in to a maximum of
18 (including the Fixed Account) at any one time.
2. Contract Owners can have Purchase Payments allocated to the Fixed
Account in accordance with the attached Declared Interest Rate Fixed
Account Endorsement.
3. If the Purchase Payments and forms required to issue a Contract are in
good order, the initial Net Purchase Payment will be credited to the
Contract within two (2) business days after receipt at the Annuity
Service Center. Additional Purchase Payments will be credited to the
Contract as of the Valuation Period when they are received.
Fixed Account:
Minimum Guaranteed Interest Rate: 3%
Separate Account: C.M. Multi-Account A
Eligible Investments, Series and Sub-Accounts:
▇▇▇▇▇▇▇▇▇▇▇ Variable Account Funds
Opp Money Fund/VA Opp Money Sub-Account
Opp Bond Fund/VA Opp Bond Sub-Account
Opp Capital Appreciation
Fund/VA Opp Capital Appreciation Sub-Account
Opp Global Securities Fund/VA Opp Global Securities Sub-Account
Opp Aggressive Growth Fund/VA Opp Aggressive Growth Sub-Account
Opp Strategic Bond Fund/VA Opp Strategic Bond Sub-Account
Opp High Income Fund/VA Opp High Income Sub-Account
Opp Main Street Growth &
Income Fund/VA Opp Main Street Growth & Income Sub-Account
30
Panorama Series Fund I, Inc.
Pan Total Return
Portfolio Pan Total Return Sub-Account
Pan Growth Portfolio Pan Growth Sub-Account
Pan International Equity
Portfolio Pan International Equity Sub-Account
Pan LifeSpan Diversified
Income Portfolio Pan LifeSpan Diversified Income Sub-Account
Pan LifeSpan Balanced
Portfolio Pan LifeSpan Balanced Sub-Account
Pan LifeSpan Capital
Appreciation Portfolio Pan LifeSpan Capital Appreciation Sub-Account
MML Series Investment Fund
MML Small Cap Value
Equity Fund MML Small Cap Value Equity Sub-Account
MML Equity Fund MML Equity Sub-Account
MML Equity Index Fund MML Equity Index Sub-Account
MML Blend Fund MML Blend Sub-Account
MML Growth Equity Fund MML Growth Equity Sub-Account
MML Small Cap Growth
Equity Fund MML Small Cap Growth Equity Sub-Account
▇▇▇▇▇ ▇▇▇▇▇ Series
Janus Aspen Worldwide
Growth Portfolio Janus Aspen Worldwide Growth Sub-Account
Janus Aspen Capital
Appreciation Portfolio Janus Aspen Capital Appreciation Sub-Account
▇▇▇▇▇▇▇▇▇ Variable Products Series Fund
▇▇▇▇▇▇▇▇▇ International
Fund ▇▇▇▇▇▇▇▇▇ International Sub-Account
BT Insurance Funds Trust
BT Small Cap Index Fund BT Small Cap Index Sub-Account
Variable Insurance Products Fund
Fidelity's VIP Growth
Portfolio Fidelity's VIP Growth Sub-Account
Variable Insurance Products Fund III
Fidelity's VIP III
Growth Opportunities
Portfolio Fidelity's VIP III Growth Opportunities Sub-Account
American Century Variable Portfolios, Inc.
American Century VP
Value Fund American Century VP Value Sub-Account
American Century VP
Income & Growth Fund American Century VP Income & Growth Sub-Account
MFS Variable Insurance Trust
MFS Growth With Income
Series MFS Growth With Income Sub-Account
Variable Insurance
Products Fund II
Fidelity's VIP II
Contrafund Portfolio Fidelity's VIP II Contrafund Sub-Account
▇. ▇▇▇▇ Price Equity Series Inc.
▇. ▇▇▇▇ Price Mid-Cap
Growth Portfolio ▇. ▇▇▇▇ Price Mid-Cap Growth Sub-Account
Annual Contract Maintenance Charge: The Annual Contract Maintenance Charge is
currently not assessed under this contract. We reserve the right to deduct an
Annual Contract Maintenance Charge of up to $60.00 from the Contract Value each
Contract Year.
Mortality and Expense Risk Charge: The current charge is equal on an annual
basis to 1.03% of the average daily net asset value of the Separate Account.
The charge will not exceed 1.25% of the average daily net asset value of the
Separate Account.
31
Administrative Charge: The current charge is equal on an annual basis to .15%
of the average daily net asset value of the Separate Account. The maximum
Administrative Charge will not exceed .25% of the average daily net asset value
of the Separate Account.
Distribution Charge: None
Transfers:
Number of Transfers: Subject to the conditions imposed on such transfers by
the Company, Contract Owners may make unlimited transfers during the
Accumulation Period and 6 transfers per calendar year during the Annuity
Period. The Company reserves the right to limit the number of transfers in
the future.
Transfer Fee: The Transfer Fee is currently not assessed under this
contract. We reserve the right to assess a Transfer Fee in the future under
this contract. The Transfer Fee will not exceed the lesser of $20 or 2% of
the amount transferred for each transfer allowed per calendar year.
Minimum and Maximum Amount to be Transferred: The minimum amount of a
transfer is $1,000 per transfer request (from one or multiple Sub-Accounts
and the Fixed Account during the Accumulation Period) or the Contract
Owner's entire interest in the Sub-Account or Fixed Account, if less. This
requirement is waived if the transfer is made in connection with the
rebalancing program.
Transfers out of the Fixed Account during any Contract Year are limited in
amount to thirty percent (30%) of the Contract Value allocated to the Fixed
Account determined as of the end of the previous Contract Year. For
purposes of this restriction, you Contract Value in the Fixed Account does
not include the amount of any outstanding loan. Transfers out of the Fixed
Account are done on a first-in-first-out basis.
Transfers between Competing Accounts are not allowed. The Fixed Account and
the Money Market Sub-Account are considered Competing Accounts. For a
period of ninety (90) days following a transfer out of a Competing Account,
no transfers may be made into the other Competing Account. In addition, for
a period of ninety (90) days following a transfer into a Competing Account,
no transfers may be made out of the other Competing Account.
Minimum Amount which must Remain in a Sub-Account or the Fixed Account
after a Transfer: $500; or $0 if the entire amount in the Sub-Account or
Fixed Account is transferred.
Withdrawals:
Contingent Deferred Sales Charge: A Contingent Deferred Sales Charge is
assessed against the amount of the Contract Value withdrawn. The charge is
calculated at the time of each withdrawal. For partial withdrawals, the
charge is deducted from the remaining Contract Value and is deducted from
the Sub-Accounts and Fixed Account in the same proportion that the amount
of withdrawal from the Sub-Account or Fixed Account bears to the total of
the partial withdrawal.
Contract
Year Charge
-------- ------
1 8%
2 8%
3 7%
4 6%
5 5%
6 4%
7 3%
8 2%
9 1%
10 or more 0%
32
Free Withdrawal Amount: During the first Contract Year, the Contract Owner
may withdraw up to 10% of the Contract Value determined as of the beginning
of the Contract Year reduced by any Free Withdrawal Amount(s) previously
taken during the such Contract Year. Beginning in the second Contract Year,
the Contract Owner may withdraw up to 10% of the Contract Value determined
as of the end of the previous Contract Year reduced by any Free Withdrawal
Amount(s) previously taken during the such Contract Year.
Withdrawal Charge: None
Minimum Partial Withdrawal: $100
Minimum Contract Value which must Remain in the Contract after a Partial
Withdrawal: Qualified Plan: $600
Number of Partial Withdrawals Permitted: No Limit
Annuity Guideline Parameters:
1. If the amount to be applied under an Annuity Option is less than $2,000,
the Company reserves the right to pay the amount in a lump sum. If any
Annuity Payment is less than $100, the Company reserves the right to
change the payment basis to equivalent quarterly, semi-annual or annual
payments.
2. The Annuity Date must be the first day of a calendar month. The Annuity
Date cannot be earlier than five years after the Issue Date.
3. The latest permitted Annuity Date is the earlier of:
(i) the 90th birthday of the Annuitant;
(ii) the latest date permitted under state law.
Riders: TSA Endorsement (ERISA) [or TSA Endorsement (Non-ERISA), or Texas ORP
Endorsement]
TSA Loan Rider (ERISA) [or TSA Loan Rider (Non-ERISA)] (Loan rider N/A
for Texas ORP)
Qualified Plan Contract Endorsement
Enhanced Death Benefit Endorsement
Unisex Annuity Rates Contract Endorsement
Declared Interest Rate Fixed Account Endorsement
Terminal Illness Benefit Endorsement
Annuity Service Center:
C.M. Life Insurance Company
Annuity Service Center, H565
P.O. Box 9067
Springfield, MA 01102-9067
33