Aetna Life Insurance and Annuity Company
Home Office: ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇.
HARTFORD, CONNECTICUT 06156
▇▇▇-▇▇▇-▇▇▇▇
Herein called Aetna
Agrees to pay the benefits stated in this Contract.
DETAILS OF VARIABLE FEATURES OF THIS CONTRACT ARE IN THE DEPOSIT, RESERVE, AND
SURRENDER PROVISIONS, AND ANNUITY PROVISIONS.
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, the following pages, and the application, make up the entire
Contract.
Signed at the Hartford, Connecticut on the Date of Issue.
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Secretary President
INDIVIDUAL SINGLE DEPOSIT CONTRACT
VARIABLE OR FIXED ANNUITY OR COMBINATION
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.
IST-CDA-HO 39176
SPECIFICATIONS
Annuitant Contract No.
Date of Issue
Deduction from Deposit - The amount of the Net Deposit applied will be the
deposit received minus a deduction for premium taxes, if any then deducted (see
Deposit, Reserve, and Surrender Provisions of this Contract).
Deductions From The Separate Account And The Funds - Total deductions equal 1.5%
on an annual basis. Once Annuity payments begin, Aetna must earn a gross return
on the assets of the Separate Account 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; in order that the dollar amount of the
Variable Annuity payments will not decrease.
IST-CDA-HO 2
COVER SHEET
This Contract is a legal contract between Owner and Aetna.
READ THIS CONTRACT CAREFULLY. This cover sheet is only a brief outline of some
of the important features of this Contract. This cover sheet is not the
insurance contract. Only the actual terms of this Contract will control. 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.
TABLE OF CONTENTS
Page
GENERAL DEFINITIONS
1. Annuity..................................................................5
2. Fixed Annuity............................................................5
3. Variable Annuity.........................................................5
4. General Account..........................................................5
5. Separate Accounts........................................................5
6. Fund(s)..................................................................5
7. Valuation Period.........................................................5
GENERAL PROVISIONS
1. Contract.................................................................6
2. Incontestability.........................................................6
3. Ownership; Claims of Creditors...........................................6
4. Beneficiary..............................................................6
5. Misstatements and Adjustments............................................6
6. State Laws...............................................................6
7. Non-Participating Contract...............................................7
DEPOSIT, RESERVE, AND SURRENDER PROVISIONS
1. Net Deposit(s)...........................................................7
2. Credit of Net Deposit(s).................................................7
3. Guaranteed Interest Rate - General Account...............................7
4. Record Units - Separate Account..........................................7
5. Investment Increment Factors - Separate Account..........................8
6. Record Unit Value - Separate Account.....................................8
7. Reserve..................................................................9
8. Transfer of Reserve......................................................9
9. Notice to the Owner......................................................9
10. Sum Payable at Death (Before Annuity Payments Start).....................9
11. Surrender Value.........................................................10
12. Table of Minimum Values - General Account...............................10
IST-CDA-HO 3
ANNUITY PROVISIONS
1. Choices to be Made......................................................12
2. Fund(s) Annuity Units - Separate Account................................12
3. Fund(s) Annuity Unit Value - Separate Account...........................13
4. Annuity Options.........................................................13
5. Special Terms Under Annuity Options.....................................24
6. Other Terms of Annuity Options..........................................24
7. Death of Annuitant/Beneficiary..........................................24
IST-CDA-HO 4
GENERAL DEFINITIONS
1. ANNUITY - Payment of an income:
(a) for the life of one or two people;
(b) for a stated period;
(c) for some mix of (a) and (b); or
(d) until there are no funds left.
2. FIXED ANNUITY - An Annuity of a fixed dollar amount paid from the General
Account.
3. VARIABLE ANNUITY - An Annuity of a varying dollar amount paid from the
Separate Account.
4. GENERAL ACCOUNT - The Account which holds the assets of Aetna, other than
those assets of Aetna in the Separate Accounts. Reserves for a Fixed
Annuity are held in the General Account.
5. SEPARATE ACCOUNTS - Accounts set up by Aetna under the Connecticut
Insurance Laws. Assets for this class of variable contracts are set apart
from other assets of Aetna. Reserves for a Variable Annuity are held in a
Separate Account and invested in shares of Fund(s).
6. FUND(S) - The open-end management investment companies (mutual funds)
registered under the Investment Company Act of 1940. They are:
(a) Aetna Variable Fund, Inc. (Variable Fund);
(b) Aetna Variable Encore Fund, Inc. (Encore Fund);
(c) Aetna Income Shares, Inc. (Income Fund); and
(d) Other funds (if any) which Aetna may allow.
7. VALUATION PERIOD - The period of time from the end of one business day to
the end of the next business day.
IST-CDA-HO 5
GENERAL PROVISIONS
1. Contract
This Contract may be changed only by an officer of Aetna. Any change must
be made in writing. Any choices under this Contract by the Owner, Annuitant
or beneficiary must be in writing. Until receipt of such choices in the
Home Office of Aetna, Aetna may rely on any previous choices made.
Aetna will make Annuity payments as and when due. Any other payments will
be made by Aetna within 7 days of receipt of the written claim for payment.
2. Incontestability
Aetna cannot cancel this Contract because of any error of fact on the
application.
3. Ownership; Claims of Creditors
The Owner shall be as stated on the application, or as later changed by the
Owner. During the lifetime of the Annuitant, all of the benefits and rights
granted by this Contract, or allowed by Aetna, belong to the Owner.
The Owner may be changed only to the Annuitant on a non-transferrable
basis. This Contract may not be:
(a) subject to the claims of any creditors; and
(b) sold, assigned, or pledged to other than Aetna.
4. Beneficiary
The beneficiary shall be as stated on the application, or as later changed
by the Owner. If no beneficiary is living at the death of the Annuitant,
payment of any amount due will be made to the Owner or to the estate of the
Owner.
5. Misstatements and Adjustments
If the age or sex of any payee is found to be misstated, the correct facts
will be used to adjust payments.
6. State Laws
This Contract follows the laws of the state in which it is delivered. Any
cash, death or Annuity payments are equal to or greater than the minimum
required by such laws.
IST-CDA-HO 6
7. Non-Participating Contract
The Owner will have no right to share in the earnings of Aetna.
DEPOSIT, RESERVE, AND SURRENDER PROVISIONS
1. Net Deposit
The Net Deposit is the single deposit minus a charge to pay premium taxes,
if any. As a rule, Aetna will take this charge out of the Reserve (see
below) when annuity payments are to start. But, if Aetna determines that it
must pay any imposed premium tax at any other time, it may take out the
charge at any time.
2. Credit of Net Deposit(s)
On the basis of information supplied by the Owner, Aetna will credit the
Net Deposit in either:
(a) the General Account;
(b) the Separate Account where it is invested in Fund(s) as directed by the
Owner; or
(c) a mix of (a) and (b).
3. Guaranteed Interest Rate - General Account
On a Net Deposit made to the General Account, Aetna will add interest daily
at an annual rate no less than:
(a) 4% except under the Annuity Provisions; and
(b) 3.5% under the Annuity Provisions.
Aetna may add interest daily at any higher rate.
4. Record Units - Separate Account
The portion of the Net Deposit applied to the Separate Account Fund(s) will
determine the number of Record Units. This number is equal to the Net
Deposit divided by the Record Unit Value (see below) for the Valuation
Period when the Net Deposit is received.
IST-CDA-HO 7
5. Investment Increment Factors - Separate Account
Investment Increment Factors are those items used to determine a Fund's net
return factor for each Valuation Period. The net return factor(s) are then
used to compute all Separate Account values and payments.
The gross return is equal to:
(a) investment income; plus
(b) realized and unrealized capital gains; minus
(c) realized and unrealized capital losses; minus
(d) certain investment expenses; and minus
(e) a daily charge at an annual rate of .25% for investment management
expense and profit.
The gross return is divided by the net assets of the Fund at the start of
the Valuation Period to compute the gross return rate. A gross return rate
may be more or less than 0. The net return rate is equal to:
(a) the gross return rate; plus or minus
(b) taxes (or charges to a tax reserve) on the Separate Account; and minus
(c) a daily charge at an annual rate of 1.25% for annuity mortality and
expense risks and profit.
A net return rate may be more or less than 0.
The net return factor for each Fund is equal to the net return rate plus
1.000000.
6. Record Unit Value - Separate Account
The Record Unit Value of each Separate Account Fund is computed by
multiplying the net return factor for the current Valuation Period by the
Record Unit Value for the previous Period. The dollar value of Record
Units, Separate Account Reserves, and Variable Annuity payments may go up
or down due to investment gain or loss.
IST-CDA-HO 8
7. Reserve
The Reserve is equal to:
(a) the Net Deposit credited to the General Account (if any); plus
(b) General Account interest added by Aetna; plus
(c) the value of the Separate Account Record Units (if any); and minus
(d) any amounts previously surrendered.
8. Transfer of Reserve
The Owner may transfer any portion of the Reserve from any Fund to any
other Fund or to the General Account. The Reserve cannot be transferred
from the General Account to any of the Funds. A transfer of the Reserve
cannot be made within 90 days of a previous transfer.
9. Notice to the Owner
Aetna will notify the Owner each year of:
(a) the investments held in the Fund(s) for the Separate Account; and
(b) the number of record units; or
(c) the number of annuity units; and
(d) the value of a unit.
Such number or values will be as of a date no more than 60 days before the
date of the notice.
10. Sum Payable at Death (Before Annuity Payments Start)
Aetna will pay to the beneficiary the Reserve if:
(a) the participant dies before Annuity payments start; and
(b) the notice of death is received by Aetna.
The sum paid will be the Reserve on the date when the notice is received.
The beneficiary may choose to apply any sum under Annuity Options (see
Annuity Provisions).
IST-CDA-HO 9
11. Surrender Value
The owner, before Annuity payments start, may choose to surrender all or a
portion of the Reserve. The amount paid by Aetna on any surrender will be
the Reserve surrendered less a percentage charge. The charge will vary
according to the period of time between the Date of Issue and the date of
surrender, as follows:
If period of time is Charge
Less than 5 years 5%
From 5 to 6 years 4%
From 6 to 7 years 3%
From 7 to 8 years 2%
From 8 to 9 years 1%
9 or more years None
In no event, however, will the charge on a total surrender exceed 9% of the
actual deposit made to that Account.
Under certain emergency conditions, Aetna has the right to defer payment of
any surrender value as provided by federal or state law.
12. Table of Minimum Values - General Account
The Table below shows minimum (Fixed) General Account values at the end of
contract years. These values assume:
(a) the deposit to the General Account was made on the Date of Issue;
(b) there have been no partial surrenders; and
(c) interest has been added at the guaranteed interest rate (see Guaranteed
Interest Rate).
If interest is added at a higher rate at any time, actual values will be
more than those shown below.
IST-CDA-HO 10
TABLE OF MINIMUM (FIXED) GENERAL ACCOUNT VALUES
PER $1,000 OF NET DEPOSIT TO THE GENERAL ACCOUNT
Minimum Minimum
End of Minimum Surrender End of Minimum Surrender
Year Reserve Value Year Reserve Value
1 $ 1,040 $ 988 16 $ 1,872 $ 1,872
2 1,082 1,028 17 1,947 1,947
3 1,125 1,069 18 2,025 2,025
4 1,170 1,111 19 2,106 2,106
5 1,217 1,156 20 2,191 2,191
6 1,265 1,215 25 2,665 2,665
7 1,316 1,276
8 1,369 1,341 30 3,243 3,243
9 1,423 1,409
10 1,480 1,480 35 3,946 3,946
11 1,539 1,539 40 4,801 4,801
12 1,601 1,601
13 1,665 1,665 45 5,841 5,841
14 1,731 1,731
15 1,800 1,800 50 7,106 7,106
IST-CDA-HO 11
ANNUITY PROVISIONS
1. Choices to be Made
The Owner may tell Aetna to pay the Reserve (minus any charge for premium
taxes) as a premium for an Annuity under Options 2, 3, 4, and 5 (see
below). 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 Variable Fund;
(c) a Variable Annuity using Income Fund; or
(d) any mix of these.
When choosing a Variable Annuity, an assumed net return rate of 5% per year
may be chosen. If not chosen, Aetna will use an assumed net return rate of
3.5% per year.
2. Fund(s) Annuity Units - Separate Account
the amount of the first Variable Annuity payment will be equal to:
(a) the portion of the Individual Account Reserve (minus any charges for
premium taxes) to be used to pay a Variable Annuity using the Fund(s);
times
(b) the rate for each $1,000 for the Option chosen.
Such amount, or portion, of the payment using a Fund will be divided by the
Fund(s) Annuity Unit Value (see below) on the due date of the first payment
to determine the number of the Fund(s) Annuity Units.
Such number of the Fund(s) Annuity Units remains fixed. Each future payment
is equal to such number times the Fund(s) Annuity Unit Value on the due
date of each payment.
IST-CDA-HO 12
3. Fund(s) Annuity Unit Value - Separate Account
For any Valuation Period the Fund(s) Annuity Unit Value is equal to:
(a) the Value for the next previous Period; times
(b) the net return factor(s) (see Investment Increment Factors - Separate
Account provisions) for the tenth previous Period; times
(c) a factor to reflect the assumed net return rate.
The factor for 3.5% per year is .9999058; for 5% per year it is .9998663.
The dollar amount of Annuity Units, values, and payments may go up or down
due to investment gain or loss.
Payments shall not be changed due to mortality or expense results.
4. Annuity Options
Option 1 - Payment of Interest on Sum Left With Aetna - This Option may be
used only by the beneficiary when the death of the Annuitant is before
Aetna has started paying an Annuity. A portion or all of the sum due may be
held in the General Account of Aetna at interest (see Guaranteed Interest
Rate - General Account provision). The beneficiary may later tell Aetna to:
(a) pay a portion, or all, of the sum held by Aetna; or
(b) apply a portion, or all, of the sum held by Aetna under any of the
Annuity Options below.
Option 2 - Payments of a Stated Dollar Amount - An Annuity of a chosen
amount will be paid until there are no funds left. The payments to be made
in a year must be no less than $60 for each $1,000 applied to this Option,
but cannot exceed an amount which would deplete the funds in less than 3
years.
Where there is a right under Federal Securities Law to forego future
payments and receive the present value of the Annuity under this Option in
a lump sum, the exercise of that right within a 3 year period after the
start of payments shall be treated as a surrender (see Surrender Value
under Deposit, Reserve and Surrender Provisions).
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.
IST-CDA-HO 13
Where there is a right under Federal Securities Law to forego future
payments and receive the present value of the Annuity under this Option in
a lump sum, the exercise of that right within a 3 year period after the
start of payments shall be treated as a surrender (see Surrender Value
under Deposit, Reserve and Surrender Provisions).
IST-CDA-HO 14
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
IST-CDA-HO 15
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.
IST-CDA-HO 16
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%; and
Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
LIFE INCOME WITH
Age of Payments Guaranteed for a Stated Period of Months:
Annuitant None 60 120 180 240
Male Female
---- ------ ---- -- --- --- ---
50 55 $4.98 $4.96 $4.89 $4.77 $4.62
51 56 5.08 5.05 4.98 4.85 4.68
52 57 5.18 5.16 5.07 4.93 4.74
53 58 5.30 5.26 5.17 5.01 4.80
54 59 5.41 5.38 5.27 5.09 4.86
55 60 5.54 5.49 5.37 5.17 4.92
56 61 5.67 5.62 5.48 5.26 4.98
57 62 5.80 5.75 5.59 5.35 5.04
58 63 5.95 5.89 5.71 5.44 5.10
59 64 6.10 6.03 5.83 5.53 5.16
60 65 6.27 6.19 5.96 5.62 5.22
61 66 6.44 6.35 6.09 5.72 5.27
62 67 6.63 6.52 6.23 5.81 5.33
63 68 6.82 6.71 6.38 5.91 5.38
64 69 7.04 6.90 6.53 6.00 5.43
65 70 7.26 7.11 6.68 6.10 5.47
66 71 7.50 7.33 6.84 6.19 5.52
67 72 7.76 7.56 7.01 6.28 5.55
68 73 8.04 7.80 7.18 6.37 5.59
69 74 8.34 8.07 7.35 6.46 5.62
70 75 8.67 8.34 7.52 6.54 5.65
71 9.01 8.63 7.70 6.62 5.67
72 9.39 8.94 7.88 6.69 5.69
73 9.79 9.26 8.05 6.76 5.71
74 10.22 9.61 8.22 6.81 5.72
75 10.69 9.96 8.39 6.87 5.73
Rates for ages not shown will be provided on request
and will be computed on a basis consistent with
the rates in the above tables.
IST-CDA-HO 17
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for Variable Annuity with Assumed Net Return Rate of 5%
LIFE INCOME WITH
Age of Payments Guaranteed for a Stated Period of Months:
Annuitant None 60 120 180 240
Male Female
---- ------ ---- -- --- --- ---
50 55 $5.89 $5.86 $5.78 $5.65 $5.48
51 56 5.99 5.96 5.86 5.71 5.53
52 57 6.09 6.06 5.95 5.79 5.59
53 58 6.20 6.16 6.04 5.86 5.64
54 59 6.32 6.27 6.14 5.94 5.70
55 60 6.44 6.39 6.24 6.02 5.75
56 61 6.57 6.51 6.34 6.10 5.80
57 62 6.71 6.64 6.45 6.18 5.86
58 63 6.85 6.77 6.56 6.26 5.91
59 64 7.00 6.92 6.68 6.35 5.97
60 65 7.16 7.07 6.80 6.43 6.02
61 66 7.34 7.23 6.93 6.52 6.07
62 67 7.52 7.40 7.06 6.61 6.12
63 68 7.72 7.58 7.20 6.70 6.17
64 69 7.93 7.77 7.35 6.79 6.21
65 70 8.16 7.97 7.50 6.88 6.25
66 71 8.40 8.19 7.65 6.97 6.29
67 72 8.66 8.42 7.81 7.05 6.33
68 73 8.94 8.66 7.97 7.14 6.36
69 74 9.24 8.92 8.13 7.22 6.39
70 75 9.56 9.19 8.30 7.29 6.41
71 9.91 9.48 8.47 7.36 6.43
72 10.29 9.78 8.64 7.43 6.45
73 10.69 10.10 8.80 7.49 6.47
74 11.13 10.43 8.97 7.55 6.48
75 11.60 10.79 9.13 7.60 6.49
Rates for ages not shown will be provided on request
and will be computed on a basis consistent with
the rates in the above tables.
IST-CDA-HO 18
Option 5 - Life Income for Two Payees - An Annuity will be paid during the lives
of the Annuitant and a second annuitant. At the death of either, payments will
continue to the survivor. When this option is chosen, a choice must be made of:
(a) 100% of the payment to continue to the survivor;
(b) 662/3% 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.
IST-CDA-HO 19
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%;
and Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
JOINT AND LAST SURVIVOR ANNUITY
100% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- --------- --------
50 55 $4.10 $4.27 $4.43 $4.57 $4.69 $4.79 $4.86
55 60 4.21 4.43 4.65 4.86 5.04 5.20 5.32
60 65 4.30 4.57 4.86 5.15 5.43 5.68 5.88
65 70 4.38 4.69 5.04 5.43 5.83 6.21 6.56
70 75 4.44 4.79 5.20 5.68 6.21 6.78 7.33
75 80 4.48 4.86 5.32 5.88 6.56 7.33 8.16
80 85 -- 4.91 5.41 6.03 6.82 7.80 8.95
Rates for a Variable Annuity with Assumed Net Return Rate of 5%
JOINT AND LAST SURVIVOR ANNUITY
100% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- --------- --------
50 55 $5.00 $5.16 $5.31 $5.44 $5.57 $5.67 $5.75
55 60 5.11 5.31 5.51 5.71 5.90 6.06 6.19
60 65 5.20 5.44 5.71 5.99 6.26 6.52 6.73
65 70 5.28 5.57 5.90 6.26 6.65 7.04 7.38
70 75 5.34 5.67 6.06 6.52 7.04 7.59 8.14
75 80 5.38 5.75 6.19 6.73 6.38 8.14 8.96
80 85 -- 5.81 6.29 6.90 7.66 8.62 9.76
Rates for ages not shown will be provided on request
and will be computed on a basis consistent with
the rates in the above tables.
IST-CDA-HO 20
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%; and
Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
JOINT AND LAST SURVIVOR ANNUITY
66 2/3% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- --------- --------
50 55 $4.51 $4.72 $4.94 $5.18 $5.44 $5.71 $6.00
55 60 4.70 4.94 5.20 5.49 5.81 6.14 6.49
60 65 4.90 5.18 5.49 5.84 6.23 6.65 7.09
65 70 5.11 5.44 5.81 6.23 6.71 7.25 7.82
70 75 5.34 5.71 6.14 6.65 7.25 7.93 8.69
75 80 5.58 6.00 6.49 7.09 7.82 8.69 9.69
80 85 -- 6.28 6.84 7.53 8.39 9.47 10.77
Rates for a Variable Annuity with Assumed Net Return Rate of 5%
JOINT AND LAST SURVIVOR ANNUITY
66 2/3% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- --------- --------
50 55 $5.43 $5.62 $5.84 $6.08 $6.36 $6.65 $6.98
55 60 5.62 5.84 6.10 6.38 6.70 7.06 7.44
60 65 5.82 6.08 6.38 6.72 7.11 7.54 8.01
65 70 6.06 6.36 6.70 7.11 7.58 8.12 8.71
70 75 6.31 6.65 7.06 7.54 8.12 8.80 9.56
75 80 6.59 6.98 7.44 8.01 8.71 9.56 10.56
80 85 -- 7.31 7.84 8.49 9.33 10.38 11.66
Rates for ages not shown will be provided on request
and will be computed on a basis consistent with
the rates in the above tables.
IST-CDA-HO 21
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%; and
Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
JOINT AND LAST SURVIVOR ANNUITY
50% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- --------- --------
50 55 $4.75 $4.98 $5.24 $5.55 $5.91 $6.32 $6.79
55 60 4.99 5.24 5.54 5.88 6.28 6.76 7.30
60 65 5.26 5.55 5.88 6.27 6.73 7.27 7.90
65 70 5.59 5.91 6.28 6.73 7.26 7.90 8.65
70 75 5.96 6.32 6.76 7.27 7.90 8.67 9.57
75 80 6.37 6.79 7.30 7.90 8.65 9.57 10.69
80 85 -- 7.30 7.88 8.59 9.49 10.61 12.00
Rates for a Variable Annuity with Assumed Net Return Rate of 5%
JOINT AND LAST SURVIVOR ANNUITY
50% TO THE SURVIVOR
NO MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- --------- --------
50 55 $5.67 $5.89 $6.15 $6.47 $6.84 $7.29 $7.81
55 60 5.91 6.15 6.44 6.78 7.20 7.70 8.28
60 65 6.20 6.47 6.78 7.16 7.63 8.19 8.86
65 70 6.54 6.84 7.20 7.63 8.16 8.80 9.58
70 75 6.95 7.29 7.70 8.19 8.80 9.56 10.48
75 80 7.42 7.81 8.28 8.86 9.58 10.48 11.60
80 85 -- 8.39 8.94 9.61 10.46 11.56 12.92
Rates for ages not shown will be provided on request
and will be computed on a basis consistent with
the rates in the above tables.
IST-CDA-HO 22
AMOUNT OF FIRST MONTHLY PAYMENT FOR EACH $1,000
AFTER DEDUCTION OF ANY CHARGE FOR PREMIUM TAXES
Rates for a Fixed Annuity with Guaranteed Interest Rate of 3.5%; and
Rates for a Variable Annuity with Assumed Net Return Rate of 3.5%
JOINT AND LAST SURVIVOR ANNUITY
100% TO THE SURVIVOR
120 MONTHS MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- --------- --------
50 55 $4.10 $4.27 $4.42 $4.56 $4.68 $4.77 $4.83
55 60 4.21 4.42 4.64 4.84 5.02 5.16 5.26
60 65 4.30 4.56 4.84 5.12 5.38 5.61 5.78
65 70 4.37 4.68 5.02 5.38 5.76 6.10 6.37
70 75 4.42 4.77 5.16 5.61 6.10 6.58 7.00
75 80 4.46 4.83 5.26 5.78 6.37 7.00 7.58
80 85 -- 4.86 5.33 5.88 6.55 7.29 8.02
Rates for a Variable Annuity with Assumed Net Return Rate of 5%
JOINT AND LAST SURVIVOR ANNUITY
100% TO THE SURVIVOR
120 MONTHS MINIMUM PERIOD
Age of
Second Annuitant Age of Annuitant
Male 45 Male 50 Male 55 Male 60 Male 65 Male 70 Male 75
Male Female Female 50 Female 55 Female 60 Female 65 Female 70 Female 75
---- ------ --------- --------- --------- --------- --------- --------- --------
50 55 $5.00 $5.15 $5.30 $5.43 $5.55 $5.64 $5.71
55 60 5.10 5.30 5.50 5.69 5.87 6.01 6.12
60 65 5.19 5.43 5.69 5.96 6.21 6.44 6.61
65 70 5.27 5.55 5.87 6.21 6.57 6.90 7.17
70 75 5.32 5.64 6.01 6.44 6.90 7.37 7.78
75 80 5.36 5.71 6.12 6.61 7.17 7.78 8.34
80 85 -- 5.75 6.19 6.72 7.35 8.06 8.76
Rates for ages not shown will be provided on request
and will be computed on a basis consistent with
the rates in the above tables.
IST-CDA-HO 23
5. Special Terms Under Annuity Options5. Special Terms Under Annuity Options
(a) when payments start, the age of the Annuitant plus the number of years
for which payments are guaranteed must not exceed 95.
(b) the present value of the payments to the Annuitant when payments start
shall be more than 50% of the present value of the payments to be made
to all payees; this restriction does not apply if Option 5 is chosen
and the second Annuitant is the spouse of the Annuitant.
6. Other Terms of Annuity Options
No choice of any Annuity Option may be made if the first payment would be
less than $20 or if the total payments in a year would be less than $100.
Age, where used in the above tables, means age nearest birthday on the date
of the first payment. The tables for Options 4 and 5 use the Annuity table
for 1949 with:
(a) a 1 year age reduction for males; and
(b) a 6 year age reduction for females.
If Fixed Annuity Options 3, 4, or 5 are chosen and Aetna's current
applicable rates at that time are larger than the rates above, the larger
payment will be made.
7. Death of Annuitant/Beneficiary
When an Annuitant dies while payments are being made under an Annuity
Option, payments will be continued to the beneficiary as provided by the
option. If no beneficiary is living, the present value of any remaining
payments will be paid in one sum to the estate of the Annuitant. The
present value will assume the same interest rate that was used when the
first payment was made.
When a beneficiary dies while a sum is held at interest, the amount held
will be paid in one sum to the estate of the beneficiary. When a
beneficiary dies while payments are being made under an Annuity Option, the
present value of any remaining payments will be paid in one sum to the
estate of the beneficiary. The present value will assume the same interest
rate that was used when the first payment was made.
IST-CDA-HO 24
Aetna Life Insurance and Annuity Company
Home Office: ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇.
HARTFORD, CONNECTICUT 06156
(▇▇▇) ▇▇▇-▇▇▇▇
GROUP DEPOSIT ADMINISTRATION CONTRACT
ACTIVE LIFE FUND IN SEPARATE ACCOUNT
AND GENERAL ACCOUNT
ALL PAYMENTS AND VALUES PROVIDED BY THE CONTRACT, WHEN BASED ON
INVESTMENT EXPERIENCE OF A SEPARATE ACCOUNT, ARE VARIABLE AND ARE
NOT GUARANTEED AS TO FIXED DOLLAR AMOUNT.
IST-CDA-HO 25
Aetna Life Insurance and Annuity Company
ENDORSEMENT
This Contract or Certificate is hereby endorsed as follows:
Payments under any life Annuity Option in this Contract or Certificate; which is
elected on or after the effective date of this endorsement, will be determined
without regard to the sex of the Annuitant(s). Any such payments will be based
solely on the age of the Annuitant(s) (as determined by the Contract or
Certificate); using the most favorable rate for that age under the benefit
elected.
If a larger payment would result by a female Annuitant using the rates shown in
the Contract or Certificate for a male, the larger payment will be made.
Endorsed and made a part of the Contract or Certificate effective August 1,
1983.
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
President
EUSR-HC
Aetna Life Insurance and Annuity Company
ENDORSEMENT
Aetna hereby endorses this Contract to allow the transfer of Reserves out of the
General Account. Such transfers will be:
(1) a minimum of 10% of the Reserves held in the General Account;
(2) without deduction of any charge;
(3) to any of the Fund(s);
(4) allowed once during each calendar year;
(5) prior to the election of an Annuity Option; and
(6) without affecting the rights of transfer now in the contract.
Aetna may, for temporary periods of time, allow any larger percentage to be
transferred.
The value of the Reserves held in the General Account, as used above, is the
value when the request is received at the Home Office of Aetna.
Endorsed and made a part of this Contract on the later of September 1, 1983 or
the Date of Issue of this Contract.
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
President
EGAWI-HC
Aetna Life Insurance and Annuity Company
ENDORSEMENT
This Contract is endorsed to allow for the election of a loan subject to the
following conditions:
A. Add to the DEPOSIT, RESERVE, AND SURRENDER PROVISIONS the following
provision:
13. Loan Value: The Owner, before an annuity option is elected, may borrow from
the Reserve according to the terms specified below:
(a) Requesting a Loan: The request must be in writing in a form acceptable
to Aetna and must assign to Aetna that portion of the Reserve necessary
to cover the loan amount plus interest. A loan may not be requested
within 12 months of any prior loan request.
(b) Loan Amount: The amount of the loan requested must be greater than
$5,000 and, when added to the total of any prior loans outstanding, may
not exceed the Reserve remaining in the Contract. The total amount of
any outstanding loan(s) may not exceed $50,000. Loans can only be made
from those amounts held in the Fund(s) and the Fixed Account. Loans may
not be made against amounts held in the Guaranteed Interest Account. If
the Owner intends to request a loan against any portion of the
Guaranteed Interest Account, that portion of the Guaranteed Interest
Account must be transferred to any Fund(s) or to the Fixed Account. The
transferred amount will be subject to the Withdrawals provision.
When a loan is made, an amount equal to the loan amount will be
withdrawn from the Reserve. Unless instructed otherwise, the amount
withdrawn will be allocated on a pro-rata basis among the Fixed Account
and the Fund(s).
(c) Loan Interest: Loan interest will accrue on a daily basis at an annual
rate to 3%. Loan interest must be paid in full at least annually. The
interest must be paid directly to Aetna by the Owner. If interest is
not paid when due, the entire loan amount plus interest will be treated
as a surrender under the terms of Contract.
E-LNIE-HG 1
(d) Loan Repayment: The repayment of any portion of a loan will be
allocated on a current basis among the Fund(s) and Fixed Account in the
same proportion as when the loan was initially made. Repayment may be
made at any time during the 5 years from the date the loan was first
made. Any unpaid portion of a loan must be repaid at the end of the 5
years, upon election of an annuity option under this Contract, or upon
full surrender of the Contract; whichever occurs first. Aetna may
require all outstanding loans be paid if the Reserve falls below an
amount equal to 25% of the total loans outstanding. Any loan and
accrued interest not repaid will be treated as a surrender.
B. Add to the end of Section 7 - Reserve, the following:
and less any amount withdrawn for a loan, if applicable.
C. Add to Section 10 - Sum payable at Death (Before Annuity Payments Start),
the following:
The Reserve payable under the terms of this section will be reduced by the
amount of the accrued interest on any outstanding loan.
Endorsed and made a part of this Contract on the effective date of the Contract.
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
President
E-LNIE-HG 2
Aetna Life Insurance and Annuity Company
ENDORSEMENT
This Contract is endorsed to provide an additional accumulation option. This
option does not replace or limit the use of any other option(s) available under
this Contract for such purpose. This option is known as Aetna Guaranteed Equity
Trust (GET Fund). The use of this option is described and limited as follows:
1. Aetna Guaranteed Equity Trust (GET Fund) - An open-end registered
management investment company organized as a series fund. Each series of
GET Fund constitutes a separate Fund under this Contract.
2. Allocation Period - The period of time, usually from one to three months,
during which amounts may be allocated to a series of GET Fund, whether by
transferring values from the other accumulation options, or by Purchase
Payments. The Allocation Period is the only time during which amounts may
be allocated to a series. At its discretion, prior to the beginning of an
Allocation Period, Aetna may specify a minimum amount per transfer and
per Purchase Payment amount for each series. A new series will be
established for each Allocation Period.
3. Guaranteed Period - The length of time to which the Guarantee applies for
a series. This period will be specified for a series before its
Allocation Period begins.
4. Maturity Date - The date at which the Guaranteed Period for that series
will end and the GET Fund Record Units for that series will be
liquidated. Another accumulation option must then be elected. If no such
election is made by the Maturity Date, Contract Values based on that GET
Fund series will be transferred to Aetna Variable Encore Fund. Transfers
made for this reason will not be counted as one of the four free
transfers. The Maturity Date will be specified before the Allocation
Period for that series begins.
5. Guarantee - Aetna guarantees that on a series' Maturity Date if the value
of each GET Fund Record Unit then outstanding in that series is less than
the value of that Record Unit at a date specified before the Allocation
Period began, such date being the beginning of the Guaranteed Period, it
will transfer to the Separate Account, from its General Account, any
amount necessary to bring that Record Unit value to the guaranteed level.
This Guarantee does not apply to GET Fund Record Unit values withdrawn or
transferred before the Maturity Date.
6. Net Return Factor - Separate Account: The Net Return Factor for GET Fund
is equal to 1.0000000 plus the Net Return Rate.
EGET-HG 1
The Net Return Rate for each series of GET Fund, notwithstanding any
other provision of this Contract is equal to:
a. The value of the shares of that series of GET Fund held by the
Separate Account at the end of a Valuation Period; minus
b. The value of the shares of that series of GET Fund held by the
Separate Account at the start of the Valuation Period; plus or minus
c. The proportional share of taxes (or reserves for taxes) on the
Separate Account (if any); divided by
d. The total value of the GET Fund Record Units of the Separate Account
for that series at the start of the Valuation Period; minus
e. A daily actuarial charge at an annual rate of 1.25% for annuity
mortality and expense risks and profit;
f. A daily fee at an annual rate of .25% during the Guaranteed Period
for Aetna's guarantee of Record Unit values and profit; and
g. A daily administrative charge which will not exceed .25% on an annual
basis.
The Net Return Rate may be more or less than 0.
The value of a share of a GET Fund series is equal to the net assets of
that series divided by the number of outstanding shares of that series.
7. Withdrawals and Transfers - Withdrawals or transfers from a GET Fund
series before the Maturity Date will be at the then applicable GET Fund
Record Unit value, which may be more or less than the value guaranteed at
the Maturity Date .
8. Election of an Annuity Option - Contract values based on any GET Fund
series must be transferred to another accumulation option prior to
election of an Annuity Option.
9. Current Value shall include the sum of any GET Fund Record Units.
10. Unless specifically indicated otherwise in this endorsement, all
references to Fund(s) in this Contract shall include each GET Fund
series.
EGET-HG 2
Endorsed and made a part of this Contract on July 1, 1987 or the effective date
of the Contract whichever is later.
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
President
EGET-HG 3
Aetna Life Insurance and Annuity Company
ENDORSEMENT
This Contract is hereby endorsed to include the following new provisions:
During any calendar year, Aetna may be told to change the investment
mix twelve times. Should Aetna allow additional changes, each may be
subject to a fee of up to $10.
Twelve transfers of Current Value (excluding transfers from the GA
Account at the end of a Guaranteed Term) can be made during a calendar
year period. Should Aetna allow additional transfers, each may be
subject to a fee of up to $10.
Endorsed and made a part of this Contract effective May 1, 1989.
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇
President
Aetna Life Insurance and Annuity Company
EIECVT-HI
Aetna Life Insurance and Annuity Company
ENDORSEMENT
This Contract is hereby endorsed to add the following new provision under
Surrender Value:
No surrender fee is deducted:
o On and after the tenth anniversary of the Effective Date of
the Individual Account; or
o From any portion of this Contract which is paid when the
Reserve is $2,500 or less and no surrenders have been taken
within the prior 12 months. If there is more than one Contract
for the Annuitant, then this provision will only apply when
the total in all of the Annuitant's Contracts is $2,500 or
less.
Endorsed and made a part of this Contract on May 1, 1989 or the Effective Date
of the Contract whichever is later.
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇
President
Aetna Life Insurance and Annuity Company
EEISV-HI
Aetna Life Insurance and Annuity Company
ENDORSEMENT
This Contract is hereby endorsed as follows:
The definition of Separate Account under the Definition of Certain Terms or
General Definitions section of the contract is hereby amended to read as
follows:
Separate Account: An account which buys and holds shares of the Fund(s).
Income, gains or losses, realized or unrealized are credited or charged
to this account without regard to other income, gains or losses of Aetna.
Aetna owns the assets held in a separate account and is not a trustee as
to such amounts. These accounts generally are not guaranteed and are held
at market value. The assets of such accounts, to the extent of reserves
and other contract liabilities of the account, shall not be charged with
other Aetna liabilities.
Endorsed and made a part of the Contract.
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
President
Aetna Life Insurance and Annuity
EGISA-IA
Aetna Life Insurance and Annuity Company
ENDORSEMENT
This Contract is endorsed to provide an additional accumulation option. This
option does not replace or limit the use of any other option(s) available under
this Contract. This option is know as TCI Growth. The use of this option is
described and limited as follows:
1. TCI Growth is one of three portfolios of TCI Portfolios, Inc., a
registered open-end management investment company.
2. All references to Fund(s) in this Contract shall include TCI Growth
unless specifically indicated otherwise.
3. Net Return Factor - Separate Account: The Net Return Factor for TCI
Growth is equal to 1.0000000 plus the Net Return Rate.
The Net Return Rate for TCI Growth notwithstanding any other provisions
of this Contract, is equal to:
a. The value of shares of TCI Growth held by the Separate Account at
the end of a Valuation Period; minus
b. The value of shares of TCI Growth held by the Separate Account at
the start of the Valuation Period; plus or minus
c. Taxes (or reserves for taxes) on the Separate Account (if any);
divided by
d. The total value of the TCI Growth Record Units at the start of the
Valuation Period; minus
e. A daily actuarial charge at an annual rate of 1.25% for annuity
mortality and expense risks and profits; and
f. A daily administrative charge which will not exceed 0.25% on an
annual basis.
The Net Return Rate may be more or less than 0.
The value of a share of TCI Growth is equal to the net assets of TCI
Growth divided by the number of outstanding shares of TCI Growth.
The daily administrative charge may be changed annually except for
amounts which have been used to purchase an Annuity. This charge will
not exceed 0.25% on an annual basis.
ETCI-IB 1
Endorsed and made a part of this Contract on February 1, 1993 or the effective
date of the Contract, whichever is later.
/s/ ▇. ▇. ▇▇▇▇▇▇▇
President
Aetna Life Insurance and Annuity Company
Aetna Life Insurance and Annuity Company
ENDORSEMENT
The Contract is hereby endorsed.
The term Valuation Period under Definitions is amended to read as follows:
The period of time for which a Fund determines its net asset value,
usually from 4:15 p.m. Eastern time each day the New York Stock Exchange
is open until 4:15 p.m. the next such day, or such other day that one or
more of the Funds determines its net asset value.
Endorsed and made a part of the Contract.
/s/ ▇. ▇. ▇▇▇▇▇▇▇
President
Aetna Life Insurance and Annuity Company
EVPE-IC
Aetna Life Insurance and Annuity Company
ENDORSEMENT
Add the following conditions to the Contributions, Valuation and Discontinuance
Contributions or the Deposit, Reserve and Surrender Provision portion of the
Contract:
The following distribution options may be elected by the Owner.
(a) Estate Conservation Option (ECO): A distribution option under
which a portion of the Individual Account Reserve Value will
automatically be surrendered and distributed each year.
(1) An ECO payment will be determined in the following manner:
a. Payments will commence no earlier than the year in
which the Owner attains age 70 1/2, and will be
calculated on the full Reserve Value of the
Individual Account, except as provided in b.
b. If Aetna maintains separate records of the value of
the account as of December 31, 1986, (see below),
payments made on or after the year in which the Owner
attains age 75 will only be calculated on amounts
contributed after December 31, 1986, plus all
interest credited after that date. The method under
this rule is only used upon election of the Owner and
will no longer be effective if the Owner submits a
withdrawal request in addition to a scheduled ECO
payment from the Individual Account, at which time
ECO payments will then be determined under a.
Aetna will maintain separate records if the Owner has
not requested any withdrawals from his or her
Individual Account since December 31, 1986. If a
Owner attained age 70 1/2 prior to 1988 or is a Owner
in a governmental or church Tax Deferred Annuity
(TDA) plan, the Owner must be retired in order to
qualify under b.
(2) Amount of Distribution: Each year that ECO is in effect,
Aetna will calculate and distribute an amount equal to the
minimum required distribution under the Code. The annual
distribution will be determined by dividing the Individual
Account Reserve Value, including any current loan(s)
outstanding, as of December 31 of the year prior to the year
for which the payment is to be made, by a life expectancy
factor.
As elected by the Owner, the factor is either the single
life or joint life expectancy based on tables in Section
401(a)(9) of the Code or related
EITECSWE-IO 1
regulations. If joint life expectancy is elected and the
Owner or spouse dies, payments will be calculated based on
the survivor's life expectancy.
These calculations may be changed as necessary to comply
with the Code minimum distribution rules. The joint life
expectancy factor can only be elected based on the joint
life expectancy of the Owner and his or her spouse, and such
spouse must be named as the beneficiary of any death
benefits under the Contract while ECO is in effect.
(3) Minimum Reserve Value: At its discretion, Aetna may require
a minimum initial Reserve Value for election of this option.
If after election of this option the Reserve Value is
insufficient to make a scheduled ECO payment, Aetna will
distribute the entire balance of the Individual Account.
(4) Date of Distribution: The Owner shall specify the initial
distribution date. The earliest date is the first day of the
calendar year in which the Owner attains age 70 1/2.
Subsequent distributions will be made annually on June 15 or
such other date Aetna may designate or allow.
(5) Elections and Revocation: ECO may be elected by the Owner by
submitting a completed and signed election form to Aetna's
Home Office. If the Contract Owner has notified Aetna that
the TDA Plan is subject to Title I of the Employee
Retirement Income Security Act of 1974 as amended, the Owner
must also submit the appropriate joint and survivor annuity
waiver and spousal consent form(s) to Aetna at its Home
Office.
Once elected, this option may be revoked by the Owner by
submitting a written request to Aetna at its Home Office.
Any revocation will apply only to amounts not yet paid. ECO
may be elected only once.
(6) Reservation of Rights: Aetna reserves the right to change
the terms of ECO for future elections and discontinue the
availability of this option after proper notification. Aetna
also reserves the right to allow payments to be made more
frequently than annually.
(b) Systematic Withdrawal Option (SWO): A distribution option under
which a portion of the Individual Account Reserve Value will
automatically be surrendered and distributed each year.
(1) Amount of Distribution: The Owner may elect one of the two
payment methods described below.
o Specified Amount: Payments of a designated dollar
amount which must be no greater than 10% of the
initial Reserve Value and shall
EITECSWE-IO 2
remain constant unless a higher amount is required
under Code minimum distribution rules. Each year that
the Specified Amount is in effect, Aetna will
calculate the minimum required distribution under the
Code and distribute this amount if it is larger than
the amount elected by the Owner. The life expectancy
factor for this purpose will be the Owner's life
expectancy at the time of the election of this
option, and with each subsequent calendar year the
factor will be reduced by one. The minimum required
distribution will be determined by dividing the
Individual Account Reserve Value, including any
current loan(s) outstanding, as of December 31 of the
year prior to the year for which the payment is to be
made, by a life expectancy factor. At its discretion,
Aetna may require a minimum initial payment amount;
or
o Specified Period: Payments which are made over a
period of time which must be at least 10 years,
unless otherwise required by Code minimum
distribution rules. The maximum specified period will
be limited by the Code minimum distribution rules.
The annual amount paid each year is calculated by
dividing the Individual Account Reserve Value as of
December 31 of the prior year, including any
outstanding loan(s), by the number of payment years
remaining.
The life expectancy factor is either the single life or
joint life expectancy, as elected by the Owner, based on
tables in Section 401(a)(9) of the Code or related
regulations. If the joint life expectancy is elected, upon
the death of either the Owner or the spouse, the minimum
required distribution for the Specified Amount payment
method will continue to be calculated in the same manner as
described in (b)(1). Payments upon the Owner's death will
continue in the manner described above, unless the spouse
elects an alternate payment mode. Any mode elected must
provide payments to be made at least as rapidly as those
made prior to the Owner's death.
These calculations may be changed as necessary to comply
with the Code minimum distribution rules. The joint life
expectancy factor can only be elected based on the joint
life expectancy of the Owner and his or her spouse, and such
spouse must be named as the beneficiary of any death
benefits under the Contract while SWO is in effect.
(2) Minimum Initial Reserve Value: At its discretion, Aetna may
require a minimum initial Reserve Value for election of this
option. If after election of this option the Reserve Value
is insufficient to make a scheduled SWO payment, Aetna will
distribute the entire balance of the Individual Account.
EITECSWE-IO 3
(3) Date of Distribution: The Owner shall specify the initial
distribution date. The earliest date is the first day of the
calendar year in which the Owner attains age 70 1/2.
SWO payments will be made annually. Subsequent distributions
will be made annually on June 15 or such other date Aetna
may designate or allow.
(5) Elections and Revocation: SWO may be elected by the Owner by
submitting a completed and signed election form to Aetna's
Home Office. If the Contract Owner has notified Aetna that
the TDA Plan is subject to Title I of the Employee
Retirement Income Security Act of 1974 as amended, the Owner
must also submit the appropriate joint and survivor annuity
waiver and spousal consent form(s) to Aetna at its Home
Office.
Once elected, this option may be revoked by the Owner by
submitting a written request to Aetna at its Home Office.
Any revocation will apply only to amounts not yet paid. SWO
may be elected only once.
(6) Reservation of Rights: Aetna reserves the right to change
the terms of SWO for future elections and discontinue the
availability of this option after proper notification. Aetna
also reserves the right to allow payments to be made more
frequently than annually.
Endorsed and made a part of the Contract on October 15, 1990 or the effective
date of the Contract whichever is later.
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇
President
Aetna Life Insurance and Annuity Company
EITECSWE-IO 4