-------------------------------------------------------------------------------
EXHIBIT 99.4.(i)
================
================================================================================
SAFECO Life Insurance Company
▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇
--------------------------------------------------------------------------------
This is a legal Contract between the Owner (referred to in this Contract as
"you" and "your") and SAFECO Life Insurance Company (referred to in this
Contract as "SAFECO Life", "our", "us", and "we"). SAFECO Life is a stock
company with its Home Office in Redmond, Washington.
This Contract is issued in consideration of the application and payment of the
initial Purchase Payment. SAFECO Life will make annuity payments to the payee
(you or someone you choose), beginning on the Annuity Date, or pay a death
benefit to your Beneficiary(ies), subject to the terms of this Contract. SAFECO
Life has executed and attested this Contract as of the contract date at our Home
Office in Redmond, Washington.
IF YOU HAVE QUESTIONS, COMMENTS, OR COMPLAINTS, PLEASE CONTACT SAFECO LIFE AT
1-877-4SAFECO (472-3326).
READ YOUR CONTRACT CAREFULLY
RIGHT TO EXAMINE THE CONTRACT: If for any reason you are not satisfied with this
Contract, you may return it within 10 days from the date you received it to
SAFECO Life or to the registered representative who sold you this Contract. When
we receive this Contract, we will refund your contract value, your Purchase
Payments, or the greater of the two, depending on your state's requirements. In
states where we are required to return Purchase Payments, we reserve the right
to allocate all Purchase Payments designated for the various Portfolios to the
SAFECO RST Money Market Portfolio until the Contract is 15 days old.
Signed for SAFECO Life Insurance Company by:
/s/ ▇. ▇. ▇▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
▇. ▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
▇▇. Vice President and Secretary President
INDIVIDUAL FLEXIBLE PREMIUM DEFERRED VARIABLE ANNUITY
NON-PARTICIPATING
THIS IS A VARIABLE ANNUITY CONTRACT. WHEN YOUR CONTRACT VALUE AND ANNUITY
PAYMENTS ARE BASED ON THE INVESTMENT EXPERIENCE OF THE PORTFOLIOS, THE DOLLAR
AMOUNTS ARE NOT GUARANTEED AND WILL INCREASE OR DECREASE.
LPC-1175 4/00 -Registered Trademark-Registered Trademark of SAFECO Corporation
================================================================================
CONTRACT DATA PAGE
PRODUCT: SPINNAKER-Registered Trademark-[NON-QUALIFIED ANNUITY]
OWNER: ▇▇▇▇ ▇▇▇
▇▇▇▇ ▇▇▇▇ ▇▇.
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
ANNUITANT: ▇▇▇▇ ▇▇▇
CONTRACT NUMBER: LP12345678
CONTRACT DATE: 1/01/2000
ANNUITANT'S AGE ON CONTRACT DATE: 35
ANNUITY DATE 5/20/2035
DELIVERED IN THE STATE OF WASHINGTON AND GOVERNED BY ITS LAWS.
MAXIMUM ISSUE AGE: 85
MAXIMUM ANNUITIZATION AGE: 90 (annuity payments must begin prior to the
Annuitant's 91st birthday)
MINIMUM INITIAL PURCHASE PAYMENT: $2,000
MINIMUM SUBSEQUENT PURCHASE PAYMENT: $250
MINIMUM WITHDRAWAL: $250, or the contract value if less.
ASSET RELATED ADMINISTRATION CHARGE: Equal on an annual basis to 0.15% of the
average daily net asset value of each Portfolio.
MORTALITY AND EXPENSE RISK CHARGE: Equal on an annual basis to 1.25% of the
average daily net asset value of each Portfolio.
ANNUAL ADMINISTRATION MAINTENANCE CHARGE: $30 each Contract Year. The charge
is waived if the contract value is $50,000 or more. The charge is guaranteed
to never exceed $35.
CONTINGENT DEFERRED SALES CHARGE:
CONTRACT YEAR CHARGE
1 8% of amount withdrawn
2 7% of amount withdrawn
3 6% of amount withdrawn
4 5% of amount withdrawn
5 4% of amount withdrawn
6 3% of amount withdrawn
7 2% of amount withdrawn
8 1% of amount withdrawn
After 8 0% of amount withdrawn
Total Contingent Deferred Sales Charges will not exceed 8.5% of the Purchase
Payments made under this Contract.
WITHDRAWAL CHARGE: $25 or 2% of the amount withdrawn, whichever is less, for
each withdrawal after the first withdrawal in a Contract Year.
LPC-1180/EF 4/00 Page 1 of 2
CONTRACT DATA PAGE
PRODUCT: SPINNAKER-Registered Trademark-[NON-QUALIFIED ANNUITY]
TRANSFER CHARGE: $10 or 2% of amount transferred, whichever is less, for
each transfer after the 12th transfer in a Contract Year.
PREMIUM TAXES: Do not apply in your state.
ELIGIBLE INVESTMENTS:
1. SAFECO RST Money Market Portfolio 15. Dreyfus IP Technology Growth Portfolio
2. SAFECO RST Bond Portfolio 16. Dreyfus Socially Responsible Growth Fund, Inc.
3. Franklin U.S. Government Fund - Class 2 17. Franklin Small Cap Fund - Class 2
4. Dreyfus VIF Quality Bond Portfolio 18. AIM V.I. Growth Fund
5. Federated High Income Bond Fund II 19. AIM V.I. Aggressive Growth Fund
6. Federated Utility Fund II 20. INVESCO VIF-Real Estate Opportunity Fund
7. ▇▇▇▇▇▇▇ VLIF Balanced Portfolio 21. ▇▇▇▇▇▇▇ VLIF International Portfolio
8. American Century VP Balanced 22. American Century VP International
9. ▇.▇. ▇▇▇▇▇▇ U.S. Disciplined Equity Portfolio 23. ▇▇▇▇▇▇▇▇▇ Developing Markets Securities Fund - Class 2
10. Fidelity VIP III Growth Opportunities Portfolio 24. SAFECO RST Equity Portfolio
11. Fidelity VIP III Growth & Income Portfolio 25. SAFECO RST Northwest Portfolio
12. Fidelity VIP Growth Portfolio 26. SAFECO RST Growth Opportunities Portfolio
13. Dreyfus VIF Appreciation Portfolio 27. SAFECO RST Small Company Value Portfolio
14. Dreyfus IP MidCap Stock Portfolio 28. SAFECO Fixed Account
SEPARATE ACCOUNT: SAFECO Separate Account C
ANNUITY SERVICE OFFICE:
HOME OFFICE: MAILING ADDRESS:
SAFECO Life Insurance Company SAFECO Life Insurance Company
Retirement Services Retirement Services
▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇ P.O. Box 34690
Redmond, WA 98052-9669 ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Telephone: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
-Registered Trademark- Spinnaker is a registered trademark of SAFECO Life
Insurance Company
LPC-1180/EF 4/00 Page 2 of 2
=====================================================================================
TABLE OF CONTENTS
=====================================================================================
CONTRACT DATA PAGE.............................................................Insert
DEFINITIONS
Accumulation Phase........................................................1
Accumulation Unit.........................................................1
Annuitant.................................................................1
Annuity Date..............................................................1
Annuity Purchase Date.....................................................1
Annuity Unit..............................................................1
Beneficiary...............................................................1
Contract..................................................................1
Contract Year.............................................................1
Fixed Account.............................................................1
General Account...........................................................1
Income Phase..............................................................1
IRC.......................................................................1
Owner.....................................................................1
Portfolios................................................................1
Purchase Payment..........................................................1
Separate Account..........................................................1
THE ANNUITY CONTRACT
ABOUT THE CONTRACT........................................................2
OWNER.....................................................................2
ANNUITANT.................................................................2
BENEFICIARY...............................................................2
Change of Beneficiary............................................2
PURCHASE PAYMENT PROVISIONS
PURCHASE PAYMENTS.........................................................3
ALLOCATION OF PURCHASE PAYMENTS...........................................3
ACCUMULATION UNITS........................................................3
INVESTMENT OPTIONS
VARIABLE INVESTMENT OPTIONS...............................................4
Substitution of Shares...........................................4
FIXED ACCOUNT.............................................................4
Interest Crediting...............................................4
Interest Compounding.............................................4
CONTRACT VALUE............................................................5
TRANSFERS.................................................................5
CHARGES
INSURANCE CHARGES.........................................................5
Mortality and Expense Risk Charge................................5
Asset Related Administration Charge..............................5
ANNUAL ADMINISTRATION MAINTENANCE CHARGE..................................5
CONTINGENT DEFERRED SALES CHARGE..........................................6
WITHDRAWAL CHARGE.........................................................7
TRANSFER CHARGE...........................................................7
PREMIUM TAXES.............................................................7
INCOME OR OTHER TAXES.....................................................7
-i-
WITHDRAWAL PROVISIONS
WITHDRAWALS...............................................................7
Free Withdrawal Amount...........................................8
Repetitive Withdrawals...........................................8
ANNUITY PAYMENT PROVISIONS
ANNUITY PAYMENTS..........................................................8
Life Annuity.....................................................8
Life Annuity with Guaranteed Period..............................8
Joint and Survivor Life Annuity..................................8
Payments Based on a Number of Years..............................9
Automatic Option.................................................9
CALCULATION OF ANNUITY PAYMENTS..........................................10
Fixed Annuity Payments..........................................10
Variable Annuity Payments.......................................10
Changing Portfolio Elections after the Annuity Purchase Date....10
DEATH BENEFIT PROVISIONS
DEATH OF ANNUITANT Prior to the Annuity Purchase Date....................11
DEATH OF OWNER Prior to the Annuity Purchase Date........................11
Calculation of Death Benefit....................................11
Payment of Death Benefit........................................12
DEATH OF ANNUITANT On or After the Annuity Purchase Date.................12
GENERAL PROVISIONS
ACCOUNT STATEMENTS.......................................................13
ASSIGNMENT OF BENEFITS...................................................13
COMMUNICATIONS...........................................................13
ESSENTIAL DATA...........................................................13
EVIDENCE OF SURVIVAL.....................................................13
MISSTATEMENT OF AGE OR SEX...............................................13
NONPARTICIPATION.........................................................13
SEPARATE ACCOUNT.........................................................13
STATE REQUIRED BENEFITS..................................................13
SUSPENSION OF ANNUITY PAYMENTS, WITHDRAWALS, OR TRANSFERS................14
TERMINATION OF CONTRACT..................................................14
THE CONTRACT.............................................................14
VOTING RIGHTS............................................................14
ANNUITY PURCHASE RATE TABLES
VARIABLE ANNUITY PURCHASE RATE TABLE.....................................15
FIXED ANNUITY PURCHASE RATE TABLE........................................16
-ii
================================================================================
DEFINITIONS
================================================================================
ACCUMULATION PHASE The period between the date we allocate your
first Purchase Payment and the Annuity Purchase
Date.
ACCUMULATION UNIT A measurement used to calculate the value of a
Portfolio during the Accumulation Phase and variable
annuity payments made under the Payments Based on a
Number of Years annuity option.
ANNUITANT The natural person(s) on whose life/lives annuity
payments are based. You are the Annuitant unless you
designate someone else before the Annuity Purchase
Date.
ANNUITY DATE The date annuity payments begin under an annuity
option.
ANNUITY PURCHASE DATE The date that your contract value is applied to
purchase annuity payments.
ANNUITY UNIT A measurement used to calculate variable annuity
payments during the Income Phase, except for the
Payments Based on a Number of Years annuity option.
BENEFICIARY The person(s) entitled to receive any benefits upon
the death of the Owner or, if applicable, the
Annuitant.
CONTRACT This Flexible Premium Deferred Variable Annuity.
CONTRACT YEAR A 12-month period starting on the contract date
shown on your contract data page and each
anniversary of that date.
FIXED ACCOUNT An investment option of this Contract that provides
for guaranteed interest. Purchase Payments allocated
to the Fixed Account become part of SAFECO Life's
General Account.
GENERAL ACCOUNT The assets of SAFECO Life other than those
attributable to Separate Accounts.
INCOME PHASE The period beginning on the Annuity Purchase Date
during which the payee receives annuity payments.
IRC The Internal Revenue Code of 1986, as amended.
OWNER The person(s) or entity(ies) named on the contract
application, unless changed. The Owner has all
ownership rights under this Contract.
PORTFOLIOS The variable investment options available under the
Contract.
PURCHASE PAYMENT An amount paid to SAFECO Life for allocation under
this Contract, less any premium tax due at the time
this payment is made.
SEPARATE ACCOUNT A segregated asset account established under
Washington law and shown on the contract data page.
-1-
================================================================================
THE ANNUITY CONTRACT
================================================================================
ABOUT THE CONTRACT This Contract is an agreement between SAFECO Life
and you, the Owner, where we promise to pay the
payee (you or someone you choose) an income in the
form of annuity payments, beginning on the date you
select, or a death benefit to your Beneficiary(ies).
When you are investing money, your Contract is in
the Accumulation Phase. Once your contract value is
applied to purchase annuity payments, your Contract
switches to the Income Phase.
You purchased this Contract with the initial
Purchase Payment you paid, and the Contract became
effective on the contract date, shown on your
contract data page.
The Contract is called a variable annuity because
you can allocate Purchase Payments among variable
investment Portfolios available within the Separate
Account or to the Fixed Account. The investment
performance of the Portfolio(s) you select may be
positive or negative and affects the value of your
Contract and the amount of any variable annuity
payments. Purchase Payments allocated to the Fixed
Account are credited with guaranteed interest.
OWNER The Owner is shown on the contract application,
unless changed. On the contract date, the Owner must
not have been older than the maximum issue age shown
on the contract data page. The Owner may exercise
all ownership rights under this Contract.
If this Contract is owned by joint Owners, they must
jointly exercise their ownership rights, unless we
are directed otherwise by both joint Owners in
writing. On the contract date, each joint Owner must
not have been older than the maximum issue age shown
on the contract data page.
ANNUITANT The Annuitant is/are the person(s) on whose
life/lives annuity payments are based. You are the
Annuitant unless you designate someone else before
the Annuity Purchase Date. If you designate someone
else as Annuitant, that person must not be older
than the maximum annuitization age shown on the
contract data page when annuity payments begin.
Owners who are not treated as individuals under IRC
Section 72 (for example, corporations or certain
trusts) may not change the Annuitant.
BENEFICIARY The Beneficiary receives any benefit payable after
you die or, if applicable, after the Annuitant(s)
dies. You initially name your Beneficiaries on the
contract application.
CHANGE OF You may change your Beneficiary designation at any
BENEFICIARY time by sending us a signed and dated request.
However, if a Beneficiary designation is
irrevocable, that Beneficiary must consent in
writing to any change. A new Beneficiary designation
revokes any prior designation and is not effective
until we record the change. We are not responsible
for the validity of any Beneficiary designation nor
for any actions we may take prior to receiving and
recording a Beneficiary change.
-2-
================================================================================
PURCHASE PAYMENT PROVISIONS
================================================================================
PURCHASE PAYMENTS During the Accumulation Phase, you may make
additional Purchase Payments. You may change the
amount and frequency of Purchase Payments. The
minimum dollar amounts are shown on the contract
data page. If you stop making Purchase Payments, all
benefits under this Contract continue until the
contract value is completely withdrawn.
Purchase Payments must be in lawful currency of the
United States and submitted to our Home Office at
▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇, or ▇.▇.
▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇, or in a manner
agreed to by SAFECO Life.
We reserve the right to refuse any Purchase Payment.
If we do not accept a Purchase Payment, we will
return it within five days.
ALLOCATION OF Your initial Purchase Payment will be allocated
PURCHASE PAYMENTS according to your instructions on your contract
application. Unless you tell us otherwise,
subsequent Purchase Payments will be allocated in
the same proportion as your most recent Purchase
Payment (unless that was a Purchase Payment you
directed us to allocate on a one-time-only basis).
Once we receive your Purchase Payment, the portion
to be allocated to the Fixed Account is credited as
of the day it is received. The portion to be
allocated to the Portfolios is effective and valued
as of the next close of the New York Stock Exchange
(NYSE). If for any reason the NYSE is closed when we
receive your Purchase Payment, it will be valued as
of the close of the NYSE on its next regular
business day.
When we are required to guarantee a return of
Purchase Payments during the Right to Examine
period, we reserve the right to initially apply
amounts designated for the Portfolios to the SAFECO
RST Money Market Portfolio until the Contract is 15
days old. These amounts will then be allocated in
the manner you selected, unless you have canceled
the Contract.
ACCUMULATION When you make Purchase Payments or transfers into a
UNITS Portfolio, we credit your Contract with Accumulation
Units. Conversely, when you request a withdrawal or
a transfer of money from a Portfolio, Accumulation
Units are liquidated. In either case, the increase
or decrease in the number of your Accumulation Units
is determined by taking the dollar amount of the
Purchase Payment, transfer, or withdrawal and
dividing it by the value of an Accumulation Unit on
the date the transaction occurs.
We calculate the value of an Accumulation Unit for
each Portfolio after the NYSE closes each day by:
- determining the total value of the particular
Portfolio;
- subtracting from that amount the mortality and
expense risk charge, the asset related
administration charge, and any taxes SAFECO Life
may incur on earnings attributable to your
Contract; and
- dividing this amount by the number of
outstanding Accumulation Units of the particular
Portfolio.
The value of an Accumulation Unit may go up or down
from day to day.
-3-
================================================================================
INVESTMENT OPTIONS
================================================================================
VARIABLE You may allocate money to the Portfolios shown on
INVESTMENT OPTIONS the contract data page. We reserve the right to add,
combine, restrict, or remove any Portfolio as an
investment option of this Contract. Portfolios have
different investment objectives. Investment
performance of a Portfolio may be positive or
negative.
SUBSTITUTION If any shares of the Portfolios are no longer
OF SHARES available, or if in our view no longer meet the
purpose of the Contract, it may be necessary to
substitute shares of another Portfolio. We will seek
prior approval of the Securities and Exchange
Commission (SEC) and give you notice before doing
this.
FIXED ACCOUNT The Fixed Account is part of SAFECO Life's General
Account and provides for guaranteed interest as
follows.
INTEREST CREDITING We establish the annual effective interest rates
that apply to Purchase Payments allocated to the
Fixed Account. The annual effective interest rate
will be at least 3.00%.
Each Purchase Payment allocated to the Fixed Account
will be credited with the interest rate established
for the date that we receive the Purchase Payment.
This rate will apply to the Purchase Payment for an
initial period of at least 12 months from the date
we receive it.
We can adjust the interest rate after the completion
of that initial period. The adjusted rate will apply
to that Purchase Payment and its credited interest
for at least 12 months, when the rate can again be
adjusted. From then on, we cannot adjust the
interest rate more often than every 12 months.
Different interest rates may apply to each of your
Purchase Payments depending on the interest rate
established for the date that we received the
Purchase Payment and any subsequent rate
adjustments.
For the purpose of crediting interest, when you take
a withdrawal from the Fixed Account, the Purchase
Payment you last paid, and the interest credited to
it, is considered to be withdrawn first.
If you stop making Purchase Payments to the Fixed
Account, we will continue to credit your balance in
the Fixed Account with the applicable interest
rate(s).
INTEREST SAFECO Life credits interest daily on each Purchase
COMPOUNDING Payment allocated to the Fixed Account from the date
we receive your payment up to, but not including,
the date you withdraw the funds from the Fixed
Account.
Annual effective interest rates show the effect of
daily compounding of interest over a 12-month
period.
-4-
CONTRACT VALUE Your contract value is the sum of the values in the
Portfolios and the Fixed Account attributable to
your Contract. We calculate this by:
- adding all the Purchase Payments you invested;
- subtracting the charges which have been
deducted;
- subtracting the withdrawals you have made;
- adjusting for each Portfolio's gain or loss;
- adding the interest we credit while any of your
contract value is in the Fixed Account; and
- subtracting the amounts withdrawn for an annuity
option.
TRANSFERS During the Accumulation Phase, you can transfer
money among the Portfolios and the Fixed Account. In
each Contract Year you can make 12 transfers free of
charge. Each additional transfer in a Contract Year
may have a transfer charge, as shown on the contract
data page.
The minimum amount you can transfer out of any
investment option at one time is $500, or the entire
value of the investment option if less. In addition
to this minimum, transfers out of the Fixed Account
are limited to a maximum of 10% of the Fixed Account
value per Contract Year. You must transfer the
entire amount out of an investment option if, after
a transfer, the remaining balance would be less than
$500. The minimum amount you can transfer into any
investment option is $50.
We reserve the right to modify, suspend, or
terminate transfer privileges at any time.
================================================================================
CHARGES
================================================================================
The following charges apply to your Contract:
INSURANCE CHARGES Each day we make deductions for our insurance
charges. We do this as part of our calculation of
the value of Accumulation Units and Annuity Units.
The insurance charge has two parts: (1) the
mortality and expense risk charge and (2) the asset
related administration charge.
MORTALITY This charge is equal, on an annual basis, to a
AND EXPENSE RISK percentage of the average daily net asset
CHARGE value of each Portfolio. The percentage is shown on
the contract data page.
ASSET RELATED This charge is equal, on an annual basis, to a
ADMINISTRATION percentage of the average daily net asset
CHARGE value of each Portfolio. The percentage is shown on
the contract data page.
ANNUAL MAINTENANCE An annual administration maintenance charge will be
ADMINISTRATION deducted from your Contract on the last day
CHARGE of each Contract Year and when you surrender your
Contract. This charge, shown on the contract data
page, may be changed prior to the Annuity Purchase
Date but will never exceed $35 per Contract Year.
The investment option from which this charge is
deducted is determined by the hierarchical order of
the investment options shown on the contract data
page.
-5-
We will not deduct this charge if your contract
value is at least $50,000 when the deduction is to
be made. During the Income Phase, we will not deduct
this charge unless the payee is receiving annuity
payments under the Payments Based on a Number of
Years annuity option and your contract value is less
than $50,000.
If the annual administration maintenance charge is
to be deducted from the Fixed Account, it will be
reduced if:
- it is greater than the Purchase Payments we
received for the current Contract Year; and
- the amount by which the charge exceeds the
Purchase Payments, when deducted from net
interest, would reduce net interest to below
3.00%.
If these conditions are met, the charge will be
limited to Purchase Payments received during the
current Contract Year plus the amount of interest
credited in excess of 3.00%.
CONTINGENT A contingent deferred sales charge may be assessed
DEFERRED SALES on withdrawals from your Contract. The charge is a
CHARGE percentage of the amount withdrawn and is shown on
the contract data page. This charge and the
withdrawal charge, if applicable, will be added to
the requested withdrawal amount, and the total
amount will be withdrawn from the specified
investment options.
You can withdraw 10% of your contract value each
Contract Year without a contingent deferred sales
charge. The determination of whether more than 10%
of the contract value has been withdrawn is made at
the time of withdrawal. If you take more than one
withdrawal in a Contract Year, the previous
withdrawals in the Contract Year are added to the
current contract value to determine whether more
than 10% of the contract value has been withdrawn in
that Contract Year.
In addition, contingent deferred sales charges will
not be assessed on the following:
- repetitive withdrawals, if the withdrawals are
equal or substantially equal and are expected to
deplete the contract value over your life
expectancy or the joint life expectancy of you
and your Beneficiary;
- annuity payments;
- withdrawals taken on account of your death; and
- withdrawals taken after you have been confined
to a hospital or nursing home for 60 consecutive
days if:
- the confinement begins after the contract
date; and
- the withdrawal is taken:
- during confinement; or
- within 60 days after confinement ends.
We may require proof of confinement.
Hospital may be defined in one of two ways. It
may mean a lawfully operated institution that is
licensed as a hospital by the Joint Commission
of Accreditation of Hospitals. Or it may mean a
lawfully operated institution that provides
in-patient treatment under the direction of a
staff of physicians and has 24-hour per day
nursing services.
-6-
Nursing home is defined as a facility licensed
by the state that provides convalescent or
chronic care for in-patients who, by reason of
illness or infirmity, are unable to properly
care for themselves.
WITHDRAWAL CHARGE The withdrawal charge, shown on the contract data
page, is deducted from your Contract for each
withdrawal after the first withdrawal in a Contract
Year. This charge and the contingent deferred sales
charge, if applicable, will be added to the
requested withdrawal amount, and the total amount
will be withdrawn from the specified investment
options.
We will not deduct this charge for annuity payments
or repetitive withdrawals.
TRANSFER CHARGE The transfer charge, shown on the contract data
page, is deducted from your Contract for each
transfer after the 12th transfer in a Contract Year.
This charge will be added to the requested transfer
amount, and the total amount will be transferred
from the specified investment options.
Scheduled transfers authorized by us as part of an
investment strategy such as dollar cost averaging,
appreciation or interest sweep, or portfolio
rebalancing do not count against your 12 free
transfers, provided those transfers continue for at
least 6 months.
PREMIUM TAXES The contract data page shows whether or not premium
tax is charged in your state.
INCOME OR OTHER Currently we do not pay income or other taxes on
TAXES earnings attributable to your Contract. However, if
we ever incur such taxes, we reserve the right to
deduct them from your Contract.
================================================================================
WITHDRAWAL PROVISIONS
================================================================================
WITHDRAWALS During the Accumulation Phase, you may withdraw part
or all of your contract value. A withdrawal may have
a contingent deferred sales charge, a withdrawal
charge, and, if you surrender the Contract by
withdrawing the entire contract value, an annual
administration maintenance charge.
Each withdrawal must be at least $250, or the
contract value if less. If a withdrawal would reduce
the value of any investment option to less than
$500, the remaining amount will also be withdrawn.
If a withdrawal would reduce the contract value to
less than $500, the entire contract value will be
withdrawn and the Contract will be terminated.
To make withdrawals, you must send a written request
to our Home Office. Unless you tell us differently,
partial withdrawals will be made pro rata from each
investment option. Once we receive your request,
withdrawals from the Portfolios will be effective as
of the next close of the NYSE.
-7-
FREE WITHDRAWAL There will be no contingent deferred sales charge on
AMOUNT the first 10% of your contract value withdrawn in a
Contract Year. In addition, there is no withdrawal
charge on the first withdrawal you make in a
Contract Year.
REPETITIVE You may request repetitive withdrawals of a
WITHDRAWALS predetermined amount on a monthly, quarterly, or
annual basis by completing the appropriate form.
================================================================================
ANNUITY PAYMENT PROVISIONS
================================================================================
ANNUITY PAYMENTS You must choose a lump sum or start the Income Phase
no later than the maximum annuitization age show on
the contract data page, or an earlier date if
required by law. During the Income Phase, the payee
(you or someone you choose) receives regular annuity
payments beginning on the Annuity Date.
To start the Income Phase, you must notify us in
writing at least 30 days prior to the date that you
want annuity payments to begin. You may choose
annuity payments under an annuity option described
in this Contract or another annuity option that you
want and that we agree to provide. If the amount
applied to an annuity option is less than $5,000, we
may pay you in a lump sum where permitted by state
law. We reserve the right to change the payment
frequency if payment amounts would be less than
$250.
Switching to the Income Phase is irrevocable. After
the Annuity Purchase Date, you cannot switch back to
the Accumulation Phase. You cannot add Purchase
Payments, change or add an Annuitant, change the
annuity option, or change between fixed and variable
annuity payments.
LIFE ANNUITY The payee receives monthly annuity payments as long
as the Annuitant is living. Annuity payments stop
when the Annuitant dies.
LIFE ANNUITY The payee receives monthly annuity payments for the
WITH GUARANTEED longer of the Annuitant's life or a guaranteed
PERIOD period of five or more years as selected by
you and agreed to by us. If the Annuitant dies
before all guaranteed payments have been made, the
rest will be made to the Beneficiary. Annuity
payments stop the later of the date the Annuitant
dies or the date the last guaranteed payment is
made.
As an alternative to monthly payments, the
Beneficiary may elect to have the present value of
the guaranteed variable annuity payments remaining
as of the date the notice of death is received by us
commuted at the assumed investment rate of 4% and
paid in a single payment.
JOINT AND SURVIVOR The payee receives monthly annuity payments as long
LIFE ANNUITY as the Annuitant is living. After the Annuitant
dies, the payee receives a specified percentage of
each annuity payment as long as the second Annuitant
is living. You name the second Annuitant and payment
percentage at the time you elect this option.
Annuity payments stop on the later of the date the
Annuitant dies or the date the second Annuitant
dies.
-8-
PAYMENTS BASED ON The payee receives substantially equal annuity
A NUMBER OF YEARS payments based on a number of years as selected by
you and agreed to by us. You may select monthly,
quarterly, or annual annuity payments. Each annuity
payment reduces the number of Accumulation Units
and/or value of the Fixed Account in the Contract.
Annuity payments continue until the entire value in
the Portfolios and/or the Fixed Account has been
paid out. You can stop these annuity payments and
receive a lump sum equal to the contract value less
any contingent deferred sales charge. This option
does not promise to make payments for the
Annuitant's life. If the Annuitant dies before all
annuity payments have been made, there will be a
death benefit payable to the Beneficiary.
AUTOMATIC OPTION If you do not choose an annuity option at least 30
days before the latest Annuity Date allowed under
this Contract, we will make annuity payments under
the Payments Based on a Number of Years annuity
option. The number of years will be equal to the
Annuitant's life expectancy.
CALCULATION OF You can choose whether annuity payments will be made
ANNUITY PAYMENTS on a fixed basis, variable basis, or both. If you
don't tell us otherwise, annuity payments will be
based on the investment allocations in place on the
Annuity Purchase Date. After the Annuity Purchase
Date, you may not switch between fixed annuity
payments and variable annuity payments.
The calculation for annuity payments under the
Payments Based on a Number of Years annuity option
is described above in "Annuity Payments - Payments
Based on a Number of Years". The following
calculations apply to all other annuity options.
FIXED ANNUITY The dollar amount of each fixed annuity payment will
PAYMENTS stay the same. This amount will be calculated by
applying your contract value in the Fixed Account to
the Fixed Annuity Purchase Rate Table of this
Contract. If premium taxes are required by state
law, these taxes will be deducted from the Fixed
Account before the annuity payments are calculated.
VARIABLE ANNUITY The dollar amount of each variable annuity payment
PAYMENTS will vary depending on the investment performance of
the Portfolios that you selected.
FIRST VARIABLE ANNUITY PAYMENT: For each Portfolio,
the dollar amount of the first variable annuity
payment and the number of Annuity Units will be
calculated by applying your contract value in that
Portfolio, as of the 15th day of the preceding
month, to the Variable Annuity Purchase Rate Table
of this Contract. If the NYSE is not open on that
date, the calculation will be made on the next day
that the NYSE is open. If premium taxes are required
by state law, these taxes will be deducted from the
Portfolio before the annuity payment is calculated.
The total of the first variable annuity payment will
be sum of the amounts calculated for each Portfolio.
SUBSEQUENT VARIABLE ANNUITY PAYMENTS: For each
Portfolio, the dollar amount of each subsequent
variable annuity payment is determined by
multiplying the number of Annuity Units credited for
that Portfolio by the Annuity Unit value of that
Portfolio as of the 15th of the month preceding the
annuity payment. If the NYSE is not open on that
date, the
-9-
calculation will be made on the next day that the
NYSE is open. The total of each subsequent variable
annuity payment will be the sum of the amounts
calculated for each Portfolio.
NUMBER OF VARIABLE ANNUITY UNITS: The number of
Annuity Units credited for each Portfolio is the
amount of the first annuity payment attributable
to that Portfolio divided by the value of the
applicable Annuity Unit for that Portfolio as of
the 15th day of the month preceding the Annuity
Date. The number of Annuity Units used to
calculate the variable annuity payment each
month remains constant unless you change
Portfolio elections.
VALUE OF VARIABLE ANNUITY UNITS: The value of an
Annuity Unit may increase or decrease from one
month to the next. For each month after the
first month, the value of an Annuity Unit of a
particular Portfolio is:
- the value of that Annuity Unit as of the 15th
day of the preceding month (or the next day
that the NYSE is open);
- multiplied by the Net Investment Factor for
that Portfolio; and
- divided by the Assumed Investment Factor for
the period.
The Net Investment Factor is a number that
represents the change in the net asset value of
a Portfolio on successive periods when the NYSE
is open. The Net Investment Factor for any
Portfolio for any valuation period is determined
by dividing the current Accumulation Unit value
by the prior period's Accumulation Unit value.
The Net Investment Factor may be different than
the Assumed Investment Factor, and therefore the
Annuity Unit value may increase or decrease.
The Assumed Investment Factor for a one-day
valuation period is 1.00010746. This factor
neutralizes the assumed investment rate of 4% in
the Variable Annuity Purchase Rate Table.
We guarantee that the dollar amount of each variable
annuity payment made after the first payment will
not be adversely affected by variations in actual
mortality experience or actual expenses incurred in
excess of the expense deductions provided for in the
Contract.
CHANGING PORTFOLIO After the Annuity Purchase Date, you may request to
ELECTIONS AFTER THE change Portfolio elections once a month. Transfers
ANNUITY PURCHASE are not allowed to or from the Fixed Account.
DATE Changes will affect the number of units used to
calculate annuity payments.
-10-
================================================================================
DEATH BENEFIT PROVISIONS
================================================================================
DEATH OF ANNUITANT If the Annuitant is not an Owner and the Annuitant
PRIOR TO THE ANNUITY dies before the Annuity Purchase Date, you must
PURCHASE DATE designate a new Annuitant. If no designation is made
within 30 days after we are notified of the
Annuitant's death, you will become the Annuitant.
If this Contract is owned by a non-natural person
(for example, a corporation or trust), the death of
the Annuitant will be treated as the death of the
Owner.
DEATH OF OWNER If any Owner dies before the Annuity Purchase Date,
PRIOR TO THE ANNUITY or if the Annuitant dies while annuity payments are
PURCHASE DATE being made under the Payments Based on a Number of
Years annuity option, we will pay a death benefit to
the:
- surviving Owner or joint Owner; or if none,
then
- surviving primary Beneficiary(ies); or if none,
then
- surviving contingent Beneficiary(ies); or if
none, then
- the estate of the last Owner to die.
CALCULATION OF DEATH The death benefit is the higher of:
BENEFIT (1) the current contract value; or
(2) if the death benefit is payable upon
the sole Owner's or oldest joint
Owner's death, the minimum guaranteed
death benefit.
When determining the higher of (1) or (2) above, the
calculations are based on the earlier of:
- the date we receive proof of death and the
Beneficiary's election of how to receive
payment; or
- six months from the date of death.
REQUIRED INFORMATION RECEIVED WITHIN 6 MONTHS OF
THE DATE OF DEATH: If the minimum guaranteed
death benefit exceeds the contract value, we
will add the difference to the contract value on
the date we receive the required information so
that the contract value will equal the minimum
guaranteed death benefit. This additional amount
will be allocated to the investment options in
the same proportion that Purchase Payments were
last allocated. Thereafter, the contract value
will be subject to investment performance and
applicable charges until the date the death
benefit is paid.
REQUIRED INFORMATION RECEIVED MORE THAN 6 MONTHS
AFTER THE DATE OF DEATH: If the minimum
guaranteed death benefit exceeds the contract
value on the 6-month anniversary of the date of
death, we will credit the difference with
interest at the prevailing money market rates
from the 6-month anniversary until the date we
receive the required information. At that time
we will allocate this additional amount, with
the credited interest, to the investment options
in the same proportion that Purchase Payments
were last allocated. Thereafter, the contract
value will be subject to investment performance
and applicable contract charges until the date
payment is made.
-11-
The initial minimum guaranteed death benefit is
equal to the first Purchase Payment. It is reset on
each 8-year contract anniversary until the oldest
Owner attains age 72. The reset benefit is equal to
the immediately preceding minimum guaranteed death
benefit or the contract value on that date, if
higher.
The minimum guaranteed death benefit is immediately
increased by additional Purchase Payments and
adjusted for withdrawals and annuity payments made
under the Payments Based on a Number of Years
annuity option. The adjustment will be calculated by
multiplying the withdrawal or annuity payment by the
ratio of the contract value after the withdrawal or
annuity payment to the contract value before the
withdrawal or annuity payment.
PAYMENT OF DEATH To pay the death benefit, we need proof of death,
BENEFIT such as a certified copy of a death certificate,
plus written direction from the Beneficiary
regarding how he or she wants to receive the money.
If the death benefit is payable to an Owner's
estate, we will pay it in a single payment.
The Beneficiary may elect to receive the death
benefit as:
- a lump sum payment or series of withdrawals that
are completed within five years from the date of
death; or
- annuity payments made over the Beneficiary's
life or life expectancy. To receive annuity
payments, the Beneficiary must make this
election within 60 days from our receipt of
proof of death. Annuity payments must begin
within one year from the date of death. Once
annuity payments begin, they cannot be changed.
If the Beneficiary is the Owner's spouse, the spouse
may have the option to continue the Contract and
will then be the Owner of the Contract. If this
spouse is also the oldest joint Owner, the minimum
guaranteed death benefit will apply on the death of
this spouse. Otherwise, the benefit on the death of
your spouse will be the contract value.
If a Beneficiary entitled to receive a death benefit
dies before the death benefit is distributed to the
Beneficiary, we will pay the death benefit to the
Beneficiary's named Beneficiary or, if none, to the
Beneficiary's estate.
DEATH OF ANNUITANT Any amounts paid after the death of the Annuitant
ON OR AFTER THE ANNUITY will depend on which annuity option was selected. If
PURCHASE DATE the Annuitant dies while annuity payments are being
paid under the Payments Based on a Number of
Years annuity option, a death benefit will be paid
as described above. If the last Annuitant dies while
annuity payments are being paid under another
option, any remaining guaranteed payments will be
paid to the Beneficiary. In both situations, all
remaining annuity payments will be distributed to
the Beneficiary at least as rapidly as they would
have been paid to the payee.
-12-
================================================================================
GENERAL PROVISIONS
================================================================================
ACCOUNT At least once each calendar year we will furnish you
STATEMENTS with a statement showing your contract value or, if
applicable and required by law, your Annuity Units
and the Annuity Unit values.
ASSIGNMENT You can assign or otherwise transfer this Contract.
OF BENEFITS To the extent allowed by law, payments under this
Contract are not subject to legal process for the
claims of creditors.
COMMUNICATIONS All written communications to you will be addressed
to you at your last known address on file with
SAFECO Life.
All written communications to SAFECO Life must be
addressed to SAFECO Life at its Home Office at ▇▇▇▇
▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ or
▇.▇. ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇.
ESSENTIAL DATA You and each person entitled to receive benefits
under this Contract must provide us with any
information we need to administer this Contract. We
are entitled to rely exclusively on the completeness
and accuracy of data furnished by you and we will
not be liable with respect to any omission or
inaccuracy.
EVIDENCE OF SURVIVAL When any payments under this Contract depend upon
any person being alive on a given date, we may
require satisfactory proof that the person is living
before making such payments.
MISSTATEMENT OF We may require satisfactory proof of correct age
AGE OR SEX or sex at any time. If annuity payments are based on
life or life expectancy and the age or sex of any
Annuitant has been misstated, annuity payments will
be based on the corrected information. Underpayments
will be made up in a lump sum with the next
scheduled payment. Overpayments will be deducted
from future payments until the total is repaid.
NONPARTICIPATION This Contract is nonparticipating, which means it
will not share in any distribution of profits,
losses, or surplus of SAFECO Life.
SEPARATE ACCOUNT The Separate Account holds the assets that underlie
the contract values invested in the Portfolios. The
assets in the Separate Account are the property of
SAFECO Life. However, assets in the Separate Account
that are attributable to Contracts are not
chargeable with liabilities arising out of any other
business we may conduct. Income, gains and losses
(realized and unrealized), resulting from assets in
the Separate Account are credited to or charged
against the Separate Account without regard to other
income, gains or losses of SAFECO Life.
STATE REQUIRED The benefits of this Contract will not be less than
BENEFITS the minimum benefits required by any statute of any
state in which this Contract is delivered.
-13-
SUSPENSION OF We may be required to suspend or postpone payment of
ANNUITY PAYMENTS, annuity payments, withdrawals, or transfers from the
WITHDRAWALS, OR Portfolios for any period of time when:
TRANSFERS
- the NYSE is closed (other than customary weekend
or holiday closings);
- trading on the NYSE is restricted;
- an emergency exists such that disposal of or
determination of the value of the Portfolio
shares is not reasonably practicable; or
- the SEC, by order, so permits for your
protection.
In addition, we retain the right to defer payment of
withdrawals or transfers from the Fixed Account for
a period of 6 months after receiving the request.
The interest rate credited to the Fixed Account
during this period will not be less than the rate
required under state law.
TERMINATION This Contract will terminate when SAFECO Life has
OF CONTRACT completed all of its duties and obligations under
the Contract.
THE CONTRACT The Contract, contract data page, and contract
application, as may be amended, and any endorsements
are the entire Contract. Only an authorized officer
of SAFECO Life may change this Contract. Any change
must be in writing. SAFECO Life reserves the right
to change the provisions of this Contract to conform
to any applicable law, regulation, or ruling issued
by a government agency.
VOTING RIGHTS SAFECO Life is the legal owner of the Portfolios'
shares. However, when a Portfolio solicits proxies
in connection with a shareholder vote, we are
required to ask you for instructions as to how to
vote those shares. All shares are voted in the same
proportion as the instructions we received. Should
we determine that we are no longer required to
comply with the above, we will vote the shares in
our own right.
-▇▇-
▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ RATE TABLES
================================================================================
VARIABLE ANNUITY PURCHASE RATE TABLE
MORTALITY TABLE USED: The rates in the Variable Annuity Purchase Rate Table are
based upon the Annuity 2000 Mortality Table projected 20 Years. An age setback
of 1 year will be used if the annuity payments begin in the year 2013-2022, 2
years if the annuity payments begin in the year 2023-2032, and an additional
1-year setback for each additional 10 years. The effective interest rate assumed
in the table is 4.00%.
Age is to be taken for the exact number of years and completed months. Values
for fractional ages are obtained by simple interpolation. Consideration for ages
or combination of lives not shown will be furnished by SAFECO Life upon request.
CONSIDERATION REQUIRED TO PURCHASE $1 OF MONTHLY VARIABLE ANNUITY*
LIFE ANNUITY LIFE ANNUITY LIFE ANNUITY JOINT & SURVIVOR*
NO PERIOD CERTAIN 5 YEARS CERTAIN 10 YEARS CERTAIN 5 YEARS
LIFE CERTAIN
AGE MALE FEMALE MALE FEMALE MALE FEMALE ANNUITY AND LIFE
60 $196.53 $211.16 $198.01 $212.37 $199.87 $213.40 $229.94 $231.55
61 192.64 207.52 194.19 208.77 196.25 209.91 226.76 228.37
62 188.65 203.77 190.26 205.06 192.56 206.33 223.45 225.06
63 184.55 199.90 186.24 201.24 188.81 202.66 220.03 221.64
64 180.35 195.93 182.13 197.32 185.01 198.89 216.48 218.09
65 176.06 191.84 177.94 193.29 181.17 195.04 212.81 214.42
66 171.68 187.65 173.69 189.16 177.31 191.11 209.02 210.62
67 167.23 183.34 169.39 184.91 173.43 187.10 205.09 206.69
68 162.72 178.91 165.04 180.56 169.55 183.02 201.05 202.65
69 158.18 174.37 160.68 176.11 165.69 178.88 196.88 198.48
70 153.60 169.71 156.31 171.55 161.85 174.69 192.59 194.19
71 149.02 164.94 151.94 166.91 158.05 170.45 188.18 189.78
72 144.44 160.07 147.58 162.18 154.30 166.20 183.66 185.26
73 139.86 155.11 143.24 157.39 150.61 161.93 179.03 180.64
74 135.27 150.08 138.91 152.55 146.98 157.68 174.30 175.92
75 130.68 144.99 134.60 147.69 143.41 153.47 169.48 171.12
76 126.09 139.88 130.31 142.82 139.93 149.30 164.58 166.23
77 121.51 134.74 126.07 137.96 136.55 145.21 159.59 161.28
78 116.95 129.59 121.87 133.11 133.26 141.21 154.55 156.26
79 112.42 124.44 117.74 128.28 130.09 137.32 149.44 151.20
80 107.93 119.28 113.67 123.49 127.05 133.56 144.29 146.11
81 103.49 114.13 109.69 118.76 124.16 129.96 139.10 140.99
82 99.10 109.01 105.80 114.10 121.41 126.53 133.89 135.87
83 94.78 103.94 102.01 109.54 118.83 123.31 128.67 130.77
84 90.53 98.92 98.32 105.10 116.42 120.29 123.46 125.70
85 86.36 93.99 94.76 100.80 114.17 117.49 118.27 120.68
86 82.26 89.15 91.32 96.67 112.08 114.90 113.12 115.75
87 78.24 84.43 88.03 92.74 110.15 112.52 108.02 110.92
88 74.30 79.83 84.89 89.01 108.36 110.33 102.99 106.21
89 70.50 75.43 81.91 85.52 106.72 108.34 98.07 101.67
90 66.84 71.24 79.10 82.26 105.24 106.56 93.29 97.30
* The consideration shown refers to the net value of the Portfolios used to
purchase a variable annuity after premium taxes or other applicable charges
are deducted. For example, if the Annuitant is a 65-year old male, a Life
Annuity initially equivalent to a monthly income of $1,000 will cost
$176,060. However, because this is a variable annuity, the dollar amount of
this monthly income is not guaranteed and may increase or decrease.
** Annuitant and co-annuitant are assumed to be the same age.
-15-
FIXED ANNUITY PURCHASE RATE TABLE
MORTALITY TABLE USED: The rates in the Fixed Annuity Purchase Rate Table are
based upon the 2000 Mortality Table projected 20 years. The effective interest
rate assumed in the table is 2.00%.
Age is to be taken for the exact number of years and completed months. Values
for fractional ages are obtained by simple interpolation. Consideration for ages
or combination of lives not shown will be furnished by SAFECO Life upon request.
CONSIDERATION REQUIRED TO PURCHASE $1 OF MONTHLY FIXED ANNUITY*
LIFE ANNUITY LIFE ANNUITY LIFE ANNUITY JOINT & SURVIVOR*
NO PERIOD CERTAIN 5 YEARS CERTAIN 10 YEARS CERTAIN 5 YEARS
LIFE CERTAIN
AGE MALE FEMALE MALE FEMALE MALE FEMALE ANNUITY AND LIFE
60 $254.94 $278.92 $256.55 $280.24 $258.80 $281.52 $310.12 $311.90
61 248.36 272.38 250.04 273.74 252.52 275.16 303.87 305.65
62 241.72 265.76 243.47 267.16 246.22 268.73 297.51 299.28
63 235.01 259.05 236.84 260.51 239.91 262.24 291.04 292.81
64 228.25 252.27 230.17 253.79 233.60 255.70 284.46 286.23
65 221.44 245.42 223.48 246.99 227.32 249.11 277.79 279.56
66 214.61 238.50 216.78 240.13 221.07 242.49 271.02 272.78
67 207.76 231.51 210.09 233.21 214.88 235.84 264.15 265.91
68 200.92 224.45 203.42 226.24 208.75 229.18 257.20 258.96
69 194.12 217.32 196.81 219.20 202.72 222.51 250.16 251.92
70 187.37 210.14 190.28 212.13 196.80 215.86 243.06 244.81
71 180.68 202.90 183.82 205.02 191.01 209.23 235.88 237.64
72 174.07 195.62 177.45 197.90 185.35 202.66 228.66 230.42
73 167.55 188.33 171.18 190.79 179.83 196.16 221.38 223.15
74 161.10 181.04 165.00 183.71 174.46 189.76 214.08 215.86
75 154.71 173.78 158.92 176.69 169.25 183.49 206.75 208.55
76 148.41 166.58 152.94 169.75 164.21 177.37 199.41 201.23
77 142.20 159.44 147.09 162.90 159.34 171.43 192.08 193.93
78 136.08 152.39 141.36 156.17 154.67 165.68 184.77 186.66
79 130.07 145.41 135.77 149.54 150.21 160.14 177.49 179.42
80 124.19 138.52 130.34 143.05 145.96 154.84 170.25 172.24
81 118.42 131.74 125.07 136.71 141.95 149.81 163.06 165.14
82 112.80 125.08 119.96 130.54 138.18 145.07 155.95 158.12
83 107.31 118.55 115.03 124.56 134.65 140.64 148.93 151.22
84 101.96 112.18 110.29 118.80 131.38 136.53 142.01 144.45
85 96.76 105.98 105.74 113.28 128.36 132.75 135.21 137.84
86 91.70 99.97 101.39 108.02 125.56 129.27 128.54 131.40
87 86.79 94.16 97.25 103.05 123.00 126.10 122.02 125.17
88 82.02 88.57 93.33 98.38 120.64 123.20 115.67 119.17
89 77.46 83.26 89.65 94.04 118.50 120.59 109.53 113.43
90 73.10 78.24 86.19 90.02 116.58 118.28 103.61 107.95
* The consideration shown refers to the net value of the Fixed Account used
to purchase a fixed annuity after premium taxes or other applicable charges
are deducted. For example, if the Annuitant is a 65-year old male, a Life
Annuity which provides a guaranteed monthly income of $1,000 will cost
$221,440.
** Annuitant and co-annuitant are assumed to be the same age.
-16-