EXHIBIT 4
C.M. LIFE INSURANCE COMPANY
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
C.M. Life Insurance Company (Company) will make Annuity Payments starting on the
Annuity Date, in accordance with the provisions of this Contract.
This Contract is issued by the Company at its Home Office, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇,
▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, on the Issue Date. The Contract is issued in
exchange for the payment of the initial Purchase Payment.
RIGHT TO EXAMINE CONTRACT: This Contract may be returned to the Company for any
reason within ten (10) calendar days after its receipt by the Contract Owner. It
may be returned by delivering or mailing it to the Company at its Annuity
Service Center. When this Contract is received by the Company it will be voided
as if it had never been in force. Upon its return, the Company will refund,
within seven days, the Contract Value next computed after receipt of this
Contract by the Company at its Annuity Service Center. This may be more or less
than the Purchase Payments.
THIS IS A LEGAL CONTRACT BETWEEN THE CONTRACT OWNER AND THE COMPANY
READ YOUR CONTRACT CAREFULLY
SECRETARY PRESIDENT
INDIVIDUAL VARIABLE DEFERRED ANNUITY CONTRACT
WITH FLEXIBLE PURCHASE PAYMENTS
Nonparticipating
ANNUITY PAYMENTS, WITHDRAWAL VALUES AND THE DEATH BENEFITS PROVIDED BY THIS
CONTRACT, WHEN BASED ON THE INVESTMENT EXPERIENCE OF THE SEPARATE ACCOUNT, ARE
VARIABLE AND ARE NOT GUARANTEED AS TO DOLLAR AMOUNT.
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TABLE OF CONTENTS
CONTRACT SCHEDULE ....................................................... 4
DEFINITIONS ............................................................. 5
PURCHASE PAYMENT PROVISIONS ............................................. 7
PURCHASE PAYMENTS .............................................. 7
SUBSEQUENT PURCHASE PAYMENTS ................................... 7
ALLOCATION OF PURCHASE PAYMENTS ................................ 7
SEPARATE ACCOUNT PROVISIONS ............................................. 7
THE SEPARATE ACCOUNT ........................................... 7
VALUATION OF ASSETS ............................................ 7
ACCUMULATION UNITS ............................................. 8
ACCUMULATION UNIT VALUE ........................................ 8
MORTALITY AND EXPENSE RISK CHARGE .............................. 8
ADMINISTRATIVE CHARGE .......................................... 8
DISTRIBUTION CHARGE ............................................ 9
MORTALITY AND EXPENSE GUARANTEE ................................ 9
ANNUAL CONTRACT MAINTENANCE CHARGE ...................................... 9
DEDUCTION FOR ANNUAL CONTRACT MAINTENANCE CHARGE ............... 9
TRANSFERS ............................................................... 9
TRANSFERS DURING THE ACCUMULATION PERIOD ....................... 9
TRANSFERS DURING THE ANNUITY PERIOD ............................ 10
WITHDRAWAL PROVISIONS ................................................... 11
WITHDRAWAL ..................................................... 11
CONTINGENT DEFERRED SALES CHARGE ............................... 11
WITHDRAWAL CHARGE .............................................. 11
PROCEEDS PAYABLE ON DEATH ............................................... 12
DEATH OF CONTRACT OWNER DURING THE ACCUMULATION PERIOD ......... 12
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD ............ 12
DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD ........... 12
DEATH OF CONTRACT OWNER DURING THE ANNUITY PERIOD .............. 12
DEATH OF ANNUITANT ............................................. 13
PAYMENT OF DEATH BENEFIT ....................................... 13
BENEFICIARY .................................................... 13
CHANGE OF BENEFICIARY .......................................... 13
SUSPENSION OR DEFERRAL OF PAYMENTS PROVISION ............................ 14
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ANNUITANT, OWNERSHIP, ASSIGNMENT PROVISIONS ............................. 14
ANNUITANT ...................................................... 14
CONTRACT OWNER ................................................. 14
JOINT CONTRACT OWNERS .......................................... 14
ASSIGNMENT OF THE CONTRACT ..................................... 15
GENERAL PROVISIONS ...................................................... 15
THE CONTRACT ................................................... 15
CONTRACT CHANGES BY THE COMPANY ................................ 15
CONTRACT CHANGES BY THE CONTRACT OWNER ......................... 15
CONTRACT TERMINATION ........................................... 16
INCONTESTABILITY ............................................... 16
MISSTATEMENT OF AGE OR SEX ..................................... 16
NON-BUSINESS DAYS .............................................. 16
NON-PARTICIPATING .............................................. 16
PROTECTION OF PROCEEDS ......................................... 16
REGULATORY REQUIREMENTS ........................................ 16
REPORTS ........................................................ 16
PREMIUM AND OTHER TAXES ........................................ 17
ANNUITY PROVISIONS ...................................................... 17
ANNUITY GUIDELINES ............................................. 17
ANNUITY PAYMENTS ............................................... 16
FIXED ANNUITY .................................................. 16
VARIABLE ANNUITY ............................................... 16
ANNUITY UNITS AND PAYMENTS ..................................... 16
ANNUITY UNIT VALUE ............................................. 16
ANNUITY OPTIONS ................................................ 19
Annuity Option A - Life Income ............................ 19
Annuity Option B - Life Income with Period Certain ........ 19
Annuity Option C - Joint and Last Survivor Payments ....... 19
Annuity Option D - Joint and 2/3 Survivor Annuity ......... 19
Annuity Option E - Period Certain ......................... 19
Annuity Option F - Special Income Settlement Agreement .... 19
ANNUITY RATES ........................................................... 20
Fixed Annuity Rates ............................................ 20
Fixed Annuity Rates Table 1 ............................... 21
Fixed Annuity Rates Table 2 ............................... 22
Fixed Annuity Rates Table 3 ............................... 23
Fixed Annuity Rates Table 4 ............................... 24
Variable Annuity Rates ......................................... 25
Variable Annuity Rates Table 5 ............................ 26
Variable Annuity Rates Table 6 ............................ 27
Variable Annuity Rates Table 7 ............................ 28
Variable Annuity Rates Table 8 ............................ 29
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CONTRACT SCHEDULE
REVISION DATE:
CONTRACT OWNER: AGE AND SEX:
ANNUITANT: AGE AND SEX:
CONTRACT NUMBER: ISSUE DATE:
ANNUITY DATE:
As designated by the Contract Owner at the Issue Date, unless changed in
accordance with the Contract.
PURCHASE PAYMENTS:
INITIAL PURCHASE PAYMENT: $25,000
MINIMUM SUBSEQUENT PURCHASE PAYMENT: $250, or, if the automatic investment plan
option is elected, $100.
MAXIMUM TOTAL PURCHASE PAYMENTS: For Contract Owners up to Age 75 on the Issue
Date, the maximum total Purchase Payments are $1 Million; for Contract Owners
over Age 75 on the Issue Date, the maximum total Purchase Payments are $500,000.
Purchase Payments above these amounts must be preapproved by the Company. For
Joint Contract Owners, Age refers to the oldest Joint Contract Owner.
ALLOCATION GUIDELINES:
1. There are no limitations on the number of Sub-Accounts that can be selected
by a Contract Owner.
2. Contract Owners can have Purchase Payments allocated to the Fixed Account
in accordance with the attached Declared Interest Rate Fixed Account
Endorsement.
3. If the Purchase Payments and forms required to issue a Contract are in good
order, the initial Net Purchase Payment will be credited to the Contract
within two (2) business days after receipt at the Annuity Service Center.
Additional Purchase Payments will be credited to the Contract as of the
Valuation Period when they are received.
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FIXED ACCOUNT:
MINIMUM GUARANTEED INTEREST RATE: 3%
SEPARATE ACCOUNT: C.M. Multi-Account A
ELIGIBLE INVESTMENTS, SERIES AND SUB-ACCOUNTS:
▇▇▇▇▇▇▇▇▇▇▇ Variable Account Funds
Money Fund/VA Money Sub-Account
Strategic Bond Fund/VA Strategic Bond Sub-Account
Main Street Growth & Income Fund/VA Main Street Growth & Income Sub-Account
High Income Fund/VA High Income Sub-Account
Capital Appreciation Fund/VA Capital Appreciation Sub-Account
Global Securities Fund/VA Global Securities Sub-Account
Panorama Series Fund I, Inc.
Total Return Portfolio Total Return Sub-Account
Growth Portfolio Growth Sub-Account
International Equity Portfolio International Equity Sub-Account
Variable Insurance Products Fund II - Contrafund Portfolio; Contrafund
Sub-Account
American Century Variable Portfolios, Inc. VP Income & Growth Portfolio; Income
& Growth Sub-Account
▇. ▇▇▇▇ Price Equity Series, Inc. - Mid-Cap Growth Portfolio; Mid-Cap Growth
Sub-Account
MML Series Investment Fund
MML Small Cap Value Equity Fund Small Cap Value Equity Sub-Account
MML Equity Fund Equity Sub-Account
MML Blend Fund Blend Sub-Account
MML Equity Index Fund Equity Index Sub-Account
MML Growth Equity Fund Growth Equity Sub-Account
MML Small Cap Growth Equity Fund Small Cap Growth Equity Sub-Account
MML Managed Bond Fund Managed Bond Sub-Account
ANNUAL CONTRACT MAINTENANCE CHARGE: On the last day of each Contract Year an
annual fee not to exceed $60.00 per Contract Year will be deducted. However, if
the Contract Value on the last day of the Contract Year is at least $100,000,
then no Annual Contract Maintenance Charge will be deducted. If a total
withdrawal is made on other than the last day of the Contract Year and the
Contract Value for the Valuation Period during which the total withdrawal is
made is less than $100,000, the Annual Contract Maintenance Charge will be
deducted at the time of the total withdrawal. The Contract Maintenance Charge
will be deducted from the Sub-Accounts and the Fixed Account in the same
proportion that the amount of the Contract Value in each Sub-Account or Fixed
Account bears to the total Contract Value. If the Annuity Date is not the last
day of the Contract Year and the Contract Value on the Annuity Date is less than
$100,000, then a pro-rata portion of the Annual Contract Maintenance Charge will
be deducted on the Annuity Date. During the Annuity Period, the Annual Contract
Maintenance Charge will be deducted pro-rata from Annuity Payments regardless of
Contract size and will result in a reduction of each Annuity Payment.
MORTALITY AND EXPENSE RISK CHARGE: The current charge is equal on an annual
basis to 1.34% of the average daily net asset value of the Separate Account for
the first Ten Contract Years, subject to a maximum charge of 1.50%, and 1.09%
thereafter, subject to a maximum charge of 1.35%.
ADMINISTRATIVE CHARGE: The current charge is equal on an annual basis to 0.15%
of the average daily net asset value of the Separate Account. The maximum
Administrative Charge will not exceed 0.25% of the average daily net asset value
of the Separate Account.
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TRANSFERS:
NUMBER OF TRANSFERS: Subject to the conditions imposed on such transfers by
the Company, Contract Owners may make unlimited transfers during the
Accumulation Period and 6 transfers per calendar year during the Annuity
Period. The Company reserves the right to further limit the number of
transfers in the future.
FREE TRANSFERS: 12 per calendar year during the Accumulation Period; 6 per
calendar year during the Annuity Period. All transfers made during a
Valuation Period are deemed to be one transfer.
TRANSFER FEE: The Transfer fee will not exceed the lesser of $20 or 2% of
the amount transferred for each transfer beyond the 12 free unscheduled
transfers allowed per calendar year. In addition, all transfers made as a
result of a dollar cost averaging or rebalancing program will be considered
as free scheduled transfers that do not count toward the 12 free
unscheduled transfers.
MINIMUM AND MAXIMUM AMOUNT TO BE TRANSFERRED: The minimum amount of a
transfer is $1,000 per transfer request (from one or multiple Sub-Accounts
and the Fixed Account during the Accumulation Period) or the Contract
Owner's entire interest in the Sub-Account or Fixed Account, if less. This
requirement is waived if the transfer is made in connection with the
rebalancing program.
Transfers out of the Fixed Account during any Contract Year are limited in
amount to thirty percent (30%) of the Contract Owner's Contract Value
allocated to the Fixed Account determined as of the end of the previous
Contract Year. Transfers out of the Fixed Account are done on a
first-in-first-out basis.
Transfers between Competing Accounts are not allowed. The Fixed Account and
the Money Market Sub-Account are considered Competing Accounts. For a
period of ninety (90) days following a transfer out of a Competing Account,
no transfers may be made into the other Competing Account. In addition, for
a period of ninety (90) days following a transfer into a Competing Account,
no transfers may be made out of the other Competing Account.
MINIMUM AMOUNT WHICH MUST REMAIN IN A SUB-ACCOUNT OR THE FIXED ACCOUNT
AFTER A TRANSFER: $1,000; or $0 if the entire amount in the Sub-Account or
Fixed Account is transferred.
WITHDRAWALS:
CONTINGENT DEFERRED SALES CHARGE: None
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FREE WITHDRAWAL AMOUNT: Unlimited Free Withdrawals. Not subject to any
Withdrawal Charges.
WITHDRAWAL CHARGE: None
MINIMUM PARTIAL WITHDRAWAL: $250
MINIMUM CONTRACT VALUE WHICH MUST REMAIN IN THE CONTRACT AFTER A PARTIAL
WITHDRAWAL: $25,000
NUMBER OF PARTIAL WITHDRAWALS PERMITTED: No Limit
ANNUITY GUIDELINE PARAMETERS:
1. If the amount to be applied under an Annuity Option is less than
$2,000, the Company reserves the right to pay the amount in a lump
sum. If any Annuity Payment is less than $100, the Company reserves
the right to change the payment basis to equivalent quarterly,
semi-annual or annual payments.
2. The Annuity Date must be the first day of a calendar month. The
Annuity Date cannot be earlier than five years after the Issue Date.
3. The latest permitted Annuity Date is the earlier of:
(i) the 100th birthday of the Annuitant or the oldest joint
Annuitant;
(ii) the latest date permitted under state law; or
(iii) the 100th birthday of the Contract Owner or the oldest Joint
Owner.
RIDERS: Individual Retirement Annuity Endorsement
Accumulation Death Benefit Endorsement
Reset Death Benefit Endorsement
Annual Ratchet Death Benefit Endorsement
Basic Death Benefit Endorsement
Unisex Annuity Rates Contract Endorsement
Tax Sheltered Annuity Endorsement
Qualified Plan Contract Endorsement
Section 457 Plan Endorsement
Declared Interest Rate Fixed Account Endorsement
Terminal Illness Benefit Endorsement
Fixed Account for Dollar Cost Averaging Endorsement
Exchange Endorsement
DEATH BENEFIT ENDORSEMENT CHARGE: The maximum charge will not exceed 0.20% on an
annual basis of the average daily net asset value of the Separate Account. The
maximum charge will not exceed 0.35% on an annual basis of the average daily net
asset value of the Separate Account for ages 16-60 at Issue Date. The maximum
charge will not exceed 0.50% on an annual basis of the average daily net asset
value of the Separate Account for ages 61-70 at Issue Date. The maximum charge
will not exceed 0.70% on an annual basis of the average daily net asset value of
the Separate Account for ages 71 and older at Issue Date. None.
ANNUITY SERVICE CENTER:
C.M. Life Insurance Company
Annuity Service Center, H565
P.O. Box 9067
Springfield, MA 01102-9067
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DEFINITIONS
ACCUMULATION PERIOD The period prior to the commencement of Annuity Payments
during which Purchase Payments may be made.
ACCUMULATION UNIT A unit of measure used to determine the value of the
Contract Owner's interest in a Sub-Account of the Separate
Account during the Accumulation Period.
AGE The age of any Contract Owner or Annuitant on his/her
birthday nearest the date for which age is being
determined.
ANNUITANT The primary person upon whose life Annuity Payments are to
be made. On or after the Annuity Date, the Annuitant shall
also include any joint Annuitant.
ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date
is shown on the Contract Schedule.
ANNUITY PAYMENTS The series of payments that will begin on the Annuity
Date.
ANNUITY OPTIONS Options available for Annuity Payments.
ANNUITY PERIOD The period which begins on the Annuity Date and ends with
the last Annuity Payment.
ANNUITY RESERVE The assets which support the Annuity Option selected by
the Contract Owner during the Annuity Period.
ANNUITY SERVICE The office indicated on the Contract Schedule of this
CENTER Contract to which notices, requests and Purchase Payments
must be sent. All sums payable by the Company under this
Contract are payable only at the Annuity Service Center.
ANNUITY UNIT A unit of measure used to determine the amount of each
Variable Annuity Payment after the Annuity Date.
BENEFICIARY The person(s) or entity(ies) designated to receive the
death benefit provided by this Contract.
CONTRACT An anniversary of the Issue Date of this Contract.
ANNIVERSARY
CONTRACT OWNER The person(s) or entity(ies) entitled to the ownership
rights stated in this Contract.
CONTRACT VALUE The sum of the Contract Owner's interest in the
Sub-Accounts of the Separate Account during the
Accumulation Period.
CONTRACT YEAR The first Contract Year is the annual period which begins
on the Issue Date. Subsequent Contract Years begin on each
anniversary of the IssueDate.
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ELIGIBLE INVESTMENT An investment entity shown on the Contract Schedule into
which assets of the Separate Account will be invested.
FIXED ANNUITY A series of payments made during the Annuity Period which
are guaranteed as to dollar amount by the Company.
GENERAL ACCOUNT The Company's general investment account which contains
all the assets of the Company with the exception of the
Separate Account and other segregated asset accounts.
ISSUE DATE The date on which this Contract became effective.
NET PURCHASE A Purchase Payment less any Premium Tax assessed by any
state or PAYMENT other jurisdiction.
PREMIUM TAX A tax imposed by certain states and other jurisdictions
when a Purchase Payment is made, when Annuity Payments
begin, or when the Contract is surrendered.
PURCHASE PAYMENT During the Accumulation Period, a payment made by or on
behalf of a Contract Owner with respect to this Contract.
REVISION DATE The date of any revised Contract Schedule. A revised
Contract Schedule bearing the latest Revision Date will
supersede all previous Contract Schedules.
SEPARATE ACCOUNT The Company's Separate Account designated on the Contract
Schedule.
SERIES A segment of an Eligible Investment which constitutes a
separate and distinct class of shares into which assets of
a Sub-Account will be invested.
SUB-ACCOUNT Separate Account assets are divided into Sub-Accounts
which are listed on the Contract Schedule. Assets of each
Sub-Account will be invested in shares of an Eligible
Investment or a Series of an Eligible Investment.
VALUATION DATE Each day on which the Company, the New York Stock Exchange
("NYSE") and the Eligible Investments are open for
business.
VALUATION PERIOD The period of time beginning at the close of business of
the NYSE on each Valuation Date and ending at the close of
business for the next succeeding Valuation Date.
VARIABLE ANNUITY An annuity with payments which vary as to dollar amount in
relation to the investment performance of specified
Sub-Accounts of the Separate Account.
WRITTEN REQUEST A request in writing, in a form satisfactory to the
Company, which is received by the Annuity Service Center.
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PURCHASE PAYMENT PROVISIONS
PURCHASE PAYMENTS
The initial Purchase Payment is due on the Issue Date. The minimum and maximum
subsequent and total Purchase Payments are shown on the Contract Schedule. The
Company reserves the right to reject any Application or Purchase Payment.
SUBSEQUENT PURCHASE PAYMENTS
Subject to the minimum subsequent and maximum total shown on the Contract
Schedule, the Contract Owner may make subsequent Purchase Payments.
ALLOCATION OF PURCHASE PAYMENTS
The allocation of the initial Net Purchase Payment is made in accordance with
the selection made by the Contract Owner at the time the Contract is issued.
Unless otherwise changed by Written Request by the Contract Owner, subsequent
Net Purchase Payments are allocated in the same manner as the initial Net
Purchase Payment. Allocation of the Net Purchase Payments is subject to the
Allocation Guidelines shown on the Contract Schedule. The Company has reserved
the right to allocate initial Purchase Payments to the Money Market Sub-Account
until the expiration of the Right to Examine Contract period.
SEPARATE ACCOUNT PROVISIONS
THE SEPARATE ACCOUNT
The Separate Account is designated on the Contract Schedule and consists of
assets set aside by the Company, which are kept separate from that of the
general assets and all other separate account assets of the Company. The assets
of the Separate Account equal to reserves and other liabilities will not be
charged with liabilities arising out of any other business the Company may
conduct.
The Separate Account assets are divided into Sub-Accounts. The Sub-Accounts
which are available under this Contract are listed in the Contract Schedule. The
assets of the Sub-Accounts are allocated to the Eligible Investment(s) and the
Series, if any, within an Eligible Investment shown on the Contract Schedule.
The Company may, from time to time, add additional Eligible Investments or
Series to those shown on the Contract Schedule. The Contract Owner may be
permitted to transfer Contract Values or allocate Net Purchase Payments to the
additional Eligible Investments or Series. However, the right to make such
transfers or allocations will be limited by the terms and conditions imposed by
the Company.
Should the shares of any such Eligible Investment(s) or any Series within an
Eligible Investment become unavailable for investment by the Separate Account,
or the Company's Board of Directors deems further investment in these shares
inappropriate, the Company may limit further purchase of such shares or may
substitute shares of another Eligible Investment or Series for shares already
purchased under this Contract.
VALUATION OF ASSETS
The assets of the Separate Account are valued at their fair market value in
accordance with procedures of the Company.
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ACCUMULATION UNITS
During the Accumulation Period, Accumulation Units shall be used to account for
all amounts allocated to or withdrawn from the Sub-Accounts of the Separate
Account as a result of Purchase Payments, withdrawals, transfers, or fees and
charges. The Company will determine the number of Accumulation Units of a
Sub-Account purchased or cancelled. This will be done by dividing the amount
allocated to (or the amount withdrawn from) the Sub-Account by the dollar value
of one Accumulation Unit of the Sub-Account as of the end of the Valuation
Period during which the request for the transaction is received at the Annuity
Service Center.
ACCUMULATION UNIT VALUE
The Accumulation Unit Value for each Sub-Account was arbitrarily set initially
at $10. Subsequent Accumulation Unit Values for each Sub-Account are determined
by multiplying the Accumulation Unit Value for the immediately preceding
Valuation Period by the Net Investment Factor for the Sub-Account for the
current Valuation Period.
The Net Investment Factor for each Sub-Account is determined by dividing A by B
and subtracting C where:
A is (i) the net asset value per share of the Eligible Investment or
Series of an Eligible Investment held by the Sub-Account for the
current Valuation Period; plus
(ii) any dividend per share declared on behalf of such Eligible
Investment or Series that has an ex-dividend date within the current
Valuation Period; less
(iii) the cumulative charge or credit for taxes reserved which is
determined by the Company to have resulted from the operation or
maintenance of the Sub-Account.
B is the net asset value per share of the Eligible Investment or Series
of an Eligible Investment held by the Sub-Account for the immediately
preceding Valuation Period.
C is the cumulative unpaid charge for the Mortality and Expense Risk
Charge, for the Administrative Charge and for the Distribution Charge
which are shown on the Contract Schedule.
The Accumulation Unit Value may increase or decrease from Valuation Period to
Valuation Period.
MORTALITY AND EXPENSE RISK CHARGE
Each Valuation Period, the Company deducts a Mortality and Expense Risk Charge
from each Sub-Account of the Separate Account which is equal, on an annual
basis, to the amount shown on the Contract Schedule. The Mortality and Expense
Risk Charge compensates the Company for assuming the mortality and expense risks
under this Contract.
ADMINISTRATIVE CHARGE
Each Valuation Period, the Company deducts an Administrative Charge from each
Sub-Account of the Separate Account which is equal, on an annual basis, to the
amount shown on the Contract Schedule. The Administrative Charge compensates the
Company for the costs associated with the administration of this Contract and
the Separate Account.
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DISTRIBUTION CHARGE
Each Valuation Period, the Company deducts a Distribution Charge from each
Sub-Account of the Separate Account which is equal, on an annual basis to the
amount shown on the Contract Schedule. The Distribution Charge compensates the
Company for the costs associated with the distribution of this Contract.
MORTALITY AND EXPENSE GUARANTEE
The Company guarantees that the dollar amount of each Annuity Payment after the
first Annuity Payment will not be affected by variations in mortality or expense
experience.
ANNUAL CONTRACT MAINTENANCE CHARGE
DEDUCTION FOR ANNUAL CONTRACT MAINTENANCE CHARGE
The Company deducts an Annual Contract Maintenance Charge from the Contract
Value or Annuity Payments to reimburse it for expenses relating to maintenance
of this Contract. The Annual Contract Maintenance Charge is shown on the
Contract Schedule.
TRANSFERS
TRANSFERS DURING THE ACCUMULATION PERIOD
Subject to any limitations imposed by the Company on the number of transfers,
shown on the Contract Schedule, that can be made during the Accumulation Period,
the Contract Owner may transfer all or part of the Contract Owner's interest in
a Sub-Account by Written Request without the imposition of any fee or charge if
there have been no more than the number of free transfers shown on the Contract
Schedule. All transfers are subject to the following:
1. If more than the number of free transfers have been made, the Company
will deduct a Transfer Fee, shown on the Contract Schedule, for each
subsequent transfer permitted. The Transfer Fee will be deducted from
the Contract Owner's interest in the Sub-Account from which the
transfer is made. However, if the Contract Owner's entire interest in
a Sub-Account is being transferred, the Transfer Fee will be deducted
from the amount which is transferred. If Contract Values are being
transferred from more than one Sub-Account, any Transfer Fee will be
allocated to those Sub-Accounts on a pro-rata basis in proportion to
the amount transferred from each Sub-Account.
2. The minimum amount which can be transferred is shown on the Contract
Schedule. The minimum amount which must remain in a Sub-Account is
shown on the Contract Schedule.
3. The Company reserves the right, at any time and without prior notice
to any party, to terminate, suspend or modify the transfer privilege
described above.
If the Contract Owner elects to use this transfer privilege, the Company will
not be liable for transfers made in accordance with the Contract Owner's
instructions. All amounts and Accumulation Units will be determined as of the
end of the Valuation Period during which the request for transfer is received at
the Annuity Service Center.
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TRANSFERS DURING THE ANNUITY PERIOD
During the Annuity Period, the Contract Owner may make transfers, by Written
Request, as follows:
1. The Contract Owner may make transfers of Annuity Reserves between
Sub-Accounts, subject to any limitations imposed by the Company on the
number of transfers, shown on the Contract Schedule, that can be made.
If more than the number of free transfers have been made, the Company
will deduct a Transfer Fee, shown on the Contract Schedule, for each
subsequent transfer permitted. The Transfer Fee will be deducted from
the Contract Owner's interest in the Sub-Account from which the
transfer is made. However, if the Contract Owner's entire interest in
a Sub-Account is being transferred, the Transfer Fee will be deducted
from the amount which is transferred. If Annuity Reserves are being
transferred from more than one Sub-Account, any Transfer Fee will be
allocated to those Sub-Accounts on a pro-rata basis in proportion to
the amount transferred from each Sub-Account.
2. The Contract Owner may, once each Contract Year, make a transfer from
one or more Sub-Accounts to the General Account. The Contract Owner
may not make a transfer from the General Account to the Separate
Account.
3. Transfers between Sub-Accounts will be made by converting the number
of Annuity Units being transferred to the number of Annuity Units of
the Sub-Account to which the transfer is made, so that the next
Annuity Payment if it were made at that time would be the same amount
that it would have been without the transfer. Thereafter, Annuity
Payments will reflect changes in the value of the new Annuity Units.
The amount transferred to the General Account from a Sub-Account will
be based on the Annuity Reserves for the Contract Owner in that
Sub-Account. Transfers to the General Account will be made by
converting the Annuity Units being transferred to purchase fixed
Annuity Payments under the Annuity Option in effect and based on the
Age of the Annuitant at the time of the transfer.
4. The minimum amount which can be transferred is shown on the Contract
Schedule. The minimum amount which must remain in a Sub-Account is
shown on the Contract Schedule.
5. The Company reserves the right, at any time and without prior notice
to any party, to terminate, suspend or modify the transfer privilege
described above.
If the Contract Owner elects to use this transfer privilege, the Company will
not be liable for transfers made in accordance with the Contract Owner's
instructions. All amounts and Annuity Unit Values will be determined as of the
end of the Valuation Period during which the request for transfer is received at
the Annuity Service Center.
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WITHDRAWAL PROVISIONS
WITHDRAWAL
During the Accumulation Period, the Contract Owner may, upon Written Request,
make a total or partial withdrawal of the Contract Withdrawal Value. The
Contract Withdrawal Value is:
1. The Contract Value as of the end of the Valuation Period during which
a Written Request for a withdrawal is received; less
2. Any applicable Premium Taxes not previously deducted; less
3. The Contingent Deferred Sales Charge, if any; less
4. The Withdrawal Charge, if any; less
5. The Annual Contract Maintenance Charge, if any; less
6. Any Purchase Payments credited to the Contract when based upon checks
that have not cleared the drawer bank.
A withdrawal will result in the cancellation of Accumulation Units from each
applicable Sub-Account in the ratio that the Contract Owner's interest in the
Sub-Account bears to the total Contract Value. The Contract Owner must specify
by Written Request in advance which Sub-Account Units are to be canceled if
other than the above method is desired. If the Contract Owner makes a total
withdrawal, all of the Contract Owner's rights and interests in the Contract
will terminate.
The Company will pay the amount of any withdrawal within seven (7) days of
receipt of a request in good order unless the Suspension or Deferral of Payments
Provision is in effect.
Each partial withdrawal must be for an amount which is not less than the minimum
amount shown on the Contract Schedule. The Contract Value which must remain in
the Contract after a partial withdrawal is shown on the Contract Schedule. The
Company reserves the right to limit the number of partial withdrawals that can
be made from a Contract. The current number of partial withdrawals permitted is
shown on the Contract Schedule.
CONTINGENT DEFERRED SALES CHARGE
A contingent deferred sales charge may be deducted in the event of a withdrawal
of all or a portion of the Contract Value. The Contingent Deferred Sales Charge
and Free Withdrawal Amounts are set out on the Contract Schedule.
WITHDRAWAL CHARGE
A service fee (Withdrawal Charge) may be deducted in the event of a withdrawal.
The Withdrawal Charge is set out on the Contract Schedule.
MUVA94 Page 11 of 30
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PROCEEDS PAYABLE ON DEATH
DEATH OF CONTRACT OWNER DURING THE ACCUMULATION PERIOD
Upon the death of the Contract Owner or a Joint Contract Owner during the
Accumulation Period, the death benefit will be paid to the Beneficiary
designated by the Contract Owner. Upon the death of a Joint Contract Owner, the
surviving Joint Contract Owner, if any, will be treated as the Primary
Beneficiary. Any other Beneficiary designation on record at the time of death
will be treated as a Contingent Beneficiary.
A Beneficiary may request that the death benefit be paid under one of the Death
Benefit Options below. If the Beneficiary is the spouse of the Contract Owner he
or she may elect to continue the Contract at the then current Contract Value in
his or her own name and exercise all the Contract Owner's rights under the
Contract.
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD
The death benefit during the Accumulation Period will be the Contract Value
determined and paid as of the end of the Valuation Period during which the
Company receives both due proof of death and an election for the payment method.
DEATH BENEFIT OPTIONS DURING THE ACCUMULATION PERIOD
A non-spousal Beneficiary must elect the death benefit to be paid under one of
the following options in the event of the death of the Contract Owner during the
Accumulation Period:
Option 1 - lump sum payment of the death benefit; or
--------
Option 2 - the payment of the entire death benefit within 5 years of the
-------- date of the death of the Contract Owner; or
Option 3 - payment of the death benefit under an Annuity Option over the
-------- lifetime of the Beneficiary or over a period not extending
beyond the life expectancy of the Beneficiary with distribution
beginning within one year of the date of death of the Contract
Owner or any Joint Contract Owner.
Any portion of the death benefit not applied under Option 3 within one year of
the date of the Contract Owner's death must be distributed within five years of
the date of death.
A spousal Beneficiary may elect to continue the Contract in his or her own name,
elect a lump sum payment of the death benefit or apply the death benefit to an
Annuity Option.
If a lump sum payment is requested, the amount will be paid within seven (7)
days of receipt of proof of death and the election, unless the Suspension or
Deferral of Payments Provision is in effect.
Payment to the Beneficiary, other than in a lump sum, may only be elected during
the sixty-day period beginning with the date of receipt by the Company of proof
of death.
DEATH OF CONTRACT OWNER DURING THE ANNUITY PERIOD
If the Contract Owner or a Joint Contract Owner, who is not the Annuitant, dies
during the Annuity Period, any remaining payments under the Annuity Option
elected will continue at least as rapidly as under the method of distribution in
effect at such Contract Owner's death. Upon the death of a Contract Owner during
the Annuity Period, the Beneficiary becomes the Contract Owner.
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DEATH OF ANNUITANT
Upon the death of the Annuitant, who is not a Contract Owner, during the
Accumulation Period, the Contract Owner may designate a new Annuitant, subject
to the Company's underwriting rules then in effect. If no designation is made
within 30 days of the death of the Annuitant, the Contract Owner will become the
Annuitant. If the Contract Owner is a non-natural person, the death of the
Annuitant will be treated as the death of the Contract Owner and a new Annuitant
may not be designated.
Upon the death of the Annuitant on or after the Annuity Date, the death benefit,
if any, will be as specified in the Annuity Option elected. Death benefits will
be paid at least as rapidly as under the method of distribution in effect at the
Annuitant's death.
PAYMENT OF DEATH BENEFIT
The Company will require due proof of death before any death benefit is paid.
Due proof of death will be:
1. a certified death certificate;
2. a certified decree of a court of competent jurisdiction as to the
finding of death; or
3. any other proof satisfactory to the Company.
All death benefits will be paid in accordance with applicable law or regulations
governing death benefit payments.
BENEFICIARY
The Beneficiary designation in effect on the Issue Date will remain in effect
until changed. Unless the Contract Owner provides otherwise, the death benefit
will be paid in equal shares to the survivor(s) as follows:
1. to the Primary Beneficiary(ies) who survive the Contract Owner's
and/or the Annuitant's death, as applicable; or if there are none
2. to the Contingent Beneficiary(ies) who survive the Contract Owner's
and/or the Annuitant's death, as applicable; or if there are none
3. to the estate of the Contract Owner.
Beneficiaries may be named irrevocably. A change of Beneficiary requires the
consent of any irrevocable Beneficiary. If an irrevocable Beneficiary is named,
the Contract Owner retains all other contractual rights.
CHANGE OF BENEFICIARY
Subject to the rights of any irrevocable Beneficiary(ies), the Contract Owner
may change the Primary Beneficiary(ies) or Contingent Beneficiary(ies). A change
may be made by Written Request. The change will take effect as of the date the
notice is signed. The Company will not be liable for any payment made or action
taken before it records the change.
MUVA94 Page 13 of 30
45
SUSPENSION OR DEFERRAL OF PAYMENTS PROVISION
The Company reserves the right to suspend or postpone payments for a withdrawal
or transfer for any period when:
1. The New York Stock Exchange is closed (other than customary weekend
and holiday closings);
2. Trading on the New York Stock Exchange is restricted;
3. An emergency exists as a result of which disposal of securities held
in the Separate Account is not reasonably practicable or it is not
reasonably practicable to determine the value of the Separate
Account's net assets; or
4. During any other period when the Securities and Exchange Commission,
by order, so permits for the protection of Contract Owners;
provided that applicable rules and regulations of the Securities and Exchange
Commission will govern as to whether the conditions described in (2) and (3)
exist.
ANNUITANT, OWNERSHIP, ASSIGNMENT PROVISIONS
ANNUITANT
The Annuitant is the person on whose life Annuity Payments are based. The
Annuitant is the person designated by the Contract Owner at the Issue Date,
unless changed prior to the Annuity Date. The Annuitant may not be changed in a
Contract which is owned by a non-natural person. Any change of Annuitant is
subject to the Company's underwriting rules then in effect.
CONTRACT OWNER
The Contract Owner has all right under this Contract. The Contract Owner is the
person designated as such on the Issue Date, unless changed.
The Contract Owner may change owners at any time prior to the Annuity Date by
Written Request. A change of Contract Owner will automatically revoke any prior
designation of Contract Owner. The change will become effective as of the date
the Written Request is signed. A new designation of Contract Owner will not
apply to any payment made or action taken by the Company prior to the time it
was received.
JOINT CONTRACT OWNERS
The Contract can be owned by Joint Contract Owners. If Joint Contract Owners are
named, any Joint Contract Owner must be the spouse of the other Contract Owner.
Upon the death of either Contract Owner, the surviving spouse will be the
Primary Beneficiary. Any other Beneficiary designation will be treated as a
Contingent Beneficiary unless otherwise indicated in a Written Request.
MUVA94 Page 14 of 30
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ASSIGNMENT OF THE CONTRACT
A Written Request specifying the terms of an assignment of this Contract must be
provided to the Annuity Service Center. Until the Written Request is received,
the Company will not be required to take notice of or be responsible for any
transfer of interest in this Contract by assignment, agreement, or otherwise.
The Company will not be responsible for the validity or tax consequences of any
assignment. Any assignment made after the death benefit has become payable will
be valid only with the Company's consent.
If this Contract is assigned, the Contract Owner's rights may only be exercised
with the consent of the assignee of record.
GENERAL PROVISIONS
THE CONTRACT
The entire Contract consists of this Contract, any Application and any riders or
endorsements attached to this Contract.
CONTRACT CHANGES BY THE COMPANY
The Company reserves the right to amend this Contract to meet the requirements
of any applicable federal or state laws or regulations, or as otherwise provided
in this Contract. The Company will notify the Contract Owner in writing of such
amendments.
Any changes to this Contract by the Company must be signed by an authorized
officer of the Company. Agents of the Company have no authority to alter or
modify any of the terms, conditions, agreements of this Contract, or to waive
any of its provisions.
CONTRACT CHANGES BY THE CONTRACT OWNER
The Contract Owner may, subject to the Company's underwriting rules then in
effect and in accordance with the provisions of this Contract, by Written
Request:
1. change the Contract Owner;
2. change the Annuity Date and/or the Annuity Option at any time up to
thirty (30) calendar days before the current Annuity Date, provided
the Annuitant is then living;
3. change the Beneficiary; or
4. change the Annuitant, prior to the Annuity Date.
A change of Annuitant, Annuity Date and Annuity Option will take effect on the
date the Written Request is received.
MUVA94 Page 15 of 30
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CONTRACT TERMINATION
This Contract will terminate upon the occurrence of any of the following events:
1. the date of the last Annuity Payment;
2. the date payment is made of the entire Contract Value;
3. the date of the last death benefit payment to the last Beneficiary;
4. the date the Contract is returned under the Right to Examine Contract
provision.
INCONTESTABILITY
The Company shall not contest the validity of this Contract.
MISSTATEMENT OF AGE OR SEX
If the Annuitant's Age or sex has been incorrectly stated, the Annuity Payment
payable will be that which the Contract Value, reduced by any applicable Premium
Tax, Annual Contract Maintenance Charge, and Contingent Deferred Sales Charge,
would have purchased at the correct Age and sex. After correction, the Annuitant
will receive the sum of any underpayments made by the Company within thirty (30)
calendar days. The amount of any overpayments made by the Company will be
charged against the payment(s) following the correction.
NON-BUSINESS DAYS
If the due date for any activity required by the Contract falls on a
non-business day for the Company, performance will be rendered on the first
business day following the due date.
NON-PARTICIPATING
This Contract is non-participating and will not share in any surplus earnings of
the Company. No dividends are payable on this Contract.
PROTECTION OF PROCEEDS
To the extent permitted by law, all payments under this Contract shall be free
from legal process and the claim of any creditor if the person is entitled to
them under this Contract. No payment and no amount under this Contract can be
taken or assigned in advance of its payment date unless the Company receives the
Contract Owner's written consent.
REGULATORY REQUIREMENTS
All values payable under this Contract will not be less than the minimum
benefits required by the laws and regulations of the state in which the Contract
is delivered.
REPORTS
Each year the Company will provide to the Contract Owner an accounting of
Purchase Payments, transfers, withdrawals, charges applicable to this Contract,
and any other information required under state or federal law.
MUVA94 Page 16 of 30
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PREMIUM AND OTHER TAXES
Any Premium Taxes relating to this Contract may be deducted from the Purchase
Payments or Contract Value when incurred. The Company will, in its sole
discretion, determine when Premium Taxes have resulted from: the investment
experience of the Separate Account; receipt by the Company of the Purchase
Payments; or commencement of Annuity Payments. The Company may, at its sole
discretion, pay such Premium Taxes when due and deduct that amount from the
Contract Value at a later date. Payment at an earlier date does not waive any
right the Company may have to deduct amounts at a later date.
The Company will deduct any withholding taxes required by applicable law.
The Company reserves the right to establish a provision for federal income taxes
if it determines, in its sole discretion, that it will incur a tax as a result
of the operation of the Separate Account. The Company will deduct for any income
taxes incurred by it as a result of the operation of the Separate Account
whether or not there was a provision for taxes and whether or not it was
sufficient.
ANNUITY PROVISIONS
ANNUITY GUIDELINES
Once the Contract reaches the Annuity Date, the following guidelines apply:
1. The Contract Owner may elect to have the Contract Value applied to
provide a Variable Annuity, a Fixed Annuity, or a combination Fixed
and Variable Annuity. If a combination is elected, the Contract Owner
must specify what part of the Contract Value is to be applied to the
Fixed and Variable options.
2. The amount applied to an Annuity Option on the Annuity Date, excluding
any death benefit proceeds applied to an Annuity Option, is equal to
the Contract Value minus any applicable Premium Tax, Annual Contract
Maintenance Charge and Contingent Deferred Sales Charge shown on the
Contract Schedule.
3. The minimum amount that may be applied under any Annuity Option, and
the minimum periodic Annuity Payment allowed, are set forth on the
Contract Schedule in the Annuity Guideline Parameters.
4. Contract Owners select an Annuity Date at the Issue Date. Contract
Owners may change the Annuity Date at any time up to thirty (30)
calendar days prior to the current Annuity Date by Written Request.
Any Annuity Date selected is subject to the Annuity Guideline
Parameters set forth on the Contract Schedule.
5. If no Annuity Option has been chosen at least thirty (30) calendar
days before the Annuity Date, the Company will make payments to the
Annuitant under Option B, with 10 years of payments guaranteed. Unless
specified otherwise, the Contract Value shall be used to provide a
Variable Annuity.
MUVA94 Page 17 of 30
49
ANNUITY PAYMENTS
The Company will make Annuity Payments beginning on the Annuity Date, provided
no death benefit has become payable and the Contract Owner has by Written
Request selected an available Annuity Option and payment schedule. Except as
otherwise agreed to by the Contract Owner and the Company, Annuity Payments will
be payable monthly. The Annuity Option and frequency of Annuity Payments may not
be changed by the Contract Owner after Annuity Payments begin. Unless the
Contract Owner specifies otherwise, the payee of the Annuity Payments shall be
the Annuitant.
If the amount of the Annuity Payment will depend on the Age or sex of the
Annuitant, the Company reserves the right to ask for satisfactory proof of the
Annuitant's (or Joint Annuitant's, if any) Age and sex. The Company reserves the
right to delay Annuity Payments until acceptable proof is received.
FIXED ANNUITY
A Fixed Annuity provides for payments which do not fluctuate based on investment
performance.
The Fixed Annuity shall be determined by applying the Annuity Purchase Rates set
forth in the Fixed Annuity Rate Tables below to the portion of the Contract
Value allocated to the Fixed Annuity Option selected by the Contract Owner.
VARIABLE ANNUITY
A Variable Annuity provides for payments which may fluctuate based on the
investment performance of the Sub-Accounts of the Separate Account. Variable
Annuity Payments will be based on the allocation of the Contract Value among the
Sub-Accounts.
ANNUITY UNITS AND PAYMENTS
The dollar amount of each Variable Annuity payment depends on the number of
Annuity Units credited to that Annuity Option, and the value of those Units. The
number of Annuity Units is determined as follows:
1. The number of Annuity Units credited in each Sub-Account will be determined
by dividing the product of the portion of the Contract Value to be applied
to the Sub-Account and the Annuity Purchase Rate by the value of one
Annuity Unit in that Sub-Account on the Annuity Date. The purchase rates
are set forth in the Variable Annuity Rate Tables below.
2. For each Sub-Account, the amount of each Annuity Payment equals the product
of the Annuitant's number of Annuity Units and the Annuity Unit Value on
the payment date. The amount of each payment may vary.
ANNUITY UNIT VALUE
The value of any Annuity Unit for each Sub-Account of the Separate Account was
arbitrarily set initially at $10.
The Sub-Account Annuity Unit Value at the end of any subsequent Valuation Period
is determined as follows:
MUVA94 Page 16 of 30
50
1. The Net Investment Factor for the current Valuation Period is multiplied by
the value of the Annuity Unit for the Sub-Account for the immediately
preceding Valuation Period.
2. The result in (1) is then divided by an assumed investment factor. The
assumed investment rate factor equals 1.00 plus the assumed investment rate
for the number of days since the preceding Valuation Date. Assumed
investment rate is based on an effective annual rate of 4%.
The value of an Annuity Unit may increase or decrease from Valuation Period to
Valuation Period.
ANNUITY OPTIONS
The Contract Owner may choose periodic fixed and/or variable Annuity Payments
under any one of the Annuity Options described below. The Company may consent to
other plans of payment before the Annuity Date.
The following Annuity Options are available:
Annuity Option A - Life Income
----------------
Periodic payments will be made as long as the Annuitant lives.
Annuity Option B - Life Income with Period Certain
----------------
Periodic payments will be made for a guaranteed period, or as long as the
Annuitant lives, whichever is longer. The guaranteed period may be five (5), ten
(10) or twenty (20) years. If the Beneficiary does not desire payments to
continue for the remainder of the guaranteed period, he/she may elect to have
the present value of the guaranteed annuity payments remaining commuted and paid
in a lump sum.
Annuity Option C - Joint and Last Survivor Payments
----------------
Periodic payments will be made during the joint lifetime of two Annuitants
continuing in the same amount during the lifetime of the surviving Annuitant.
Annuity Option D - Joint and 2/3 Survivor Annuity
----------------
Periodic payments will be made during the joint lifetime of two Annuitants.
Payments will continue during the lifetime of the surviving Annuitant and will
be computed on the basis of two-thirds of the annuity payment (or Units) in
effect during the joint lifetime.
Annuity Option E - Period Certain
----------------
Periodic payments will be made for a specified period. The specified period must
be at least five (5) years and cannot be more than thirty (30) years. If the
Contract Owner does not desire payments to continue for the remainder of the
guaranteed period, he/she may elect to have the present value of the remaining
payments commuted and paid in a lump sum or as an Annuity Option purchased at
the date of such election.
Annuity Option F - Special Income Settlement Agreement
----------------
The Company will pay the proceeds in accordance with terms agreed upon in
writing by the Contract Owner and the Company.
MUVA94 Page 19 of 30
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ANNUITY RATES
-------------
FIXED ANNUITY RATES
-------------------
Notes to Tables
---------------
Table 1 - Annuity Options A and B
Table 2 - Annuity Option C
Table 3 - Annuity Option D
Table 4 - Annuity Option E
Note 1: If the single premium immediate annuity rates offered by the Company
and designated by the Company for this purpose on the Annuity Date are
more favorable than the minimum guaranteed rates used to develop
Tables 1, 2, 3 or 4, those rates will be used.
Note 2: The 1983 Table "a" mortality table, projected to the year 2015 with
Projection Scale G, applies to all Annuity Options which include life
contingent payments. Where applicable, unisex mortality rates and
projection factors are based on a 40%/60% male/female weighting.
Note 3: The Annuity Option rates shown in Tables 1, 2, 3, and 4 are based on
an effective annual interest rate of 3%.
Note 4: Rates will be determined based on the age(s) of any Annuitant(s) on
his/her birthday nearest the Annuity Date. The tables below show
Annuity Option rates based on age nearest birthday.
Note 5: The purchase rate for any age or combination of ages not shown in the
tables below will be calculated on the same basis as the payments for
those shown and may be obtained by Written Request.
MUVA94 Page 20 of 30
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---------------------------------------------------------------------------------------------------------
FIXED ANNUITY RATES
TABLE 1 - OPTIONS A & B
MONTHLY PAYMENT PER $1,000
---------------------------------------------------------------------------------------------------------
MALE FEMALE
--------------------------------------------------- -----------------------------------------------------
Life 5 Yrs 10 Yrs 20 Yrs Life 5 Yrs 10 Yrs 20 Yrs
Age Only C&L C&L C&L Only C&L C&L C&L Age
---------------------------------------------------------------------------------------------------------
50 3.94 3.93 3.91 3.84 3.64 3.64 3.63 3.60 50
51 4.00 3.99 3.97 3.89 3.69 3.69 3.68 3.64 51
52 4.07 4.06 4.04 3.94 3.74 3.74 3.73 3.69 52
53 4.13 4.13 4.10 4.00 3.80 3.79 3.78 3.74 53
54 4.21 4.20 4.17 4.06 3.85 3.85 3.84 3.79 54
55 4.29 4.28 4.25 4.11 3.92 3.91 3.90 3.84 55
56 4.37 4.36 4.32 4.17 3.98 3.98 3.96 3.90 56
57 4.45 4.44 4.40 4.23 4.05 4.04 4.03 3.95 57
58 4.54 4.53 4.49 4.30 4.12 4.11 4.10 4.01 58
59 4.64 4.63 4.58 4.36 4.20 4.19 4.17 4.07 59
60 4.74 4.73 4.67 4.42 4.28 4.27 4.25 4.13 60
61 4.85 4.84 4.77 4.49 4.36 4.35 4.33 4.20 61
62 4.97 4.95 4.88 4.56 4.45 4.44 4.41 4.27 62
63 5.10 5.07 4.99 4.62 4.55 4.54 4.50 4.33 63
64 5.23 5.20 5.11 4.69 4.65 4.64 4.60 4.40 64
65 5.37 5.34 5.23 4.75 4.76 4.75 4.70 4.47 65
66 5.53 5.49 5.35 4.82 4.88 4.86 4.81 4.55 66
67 5.69 5.64 5.49 4.88 5.00 4.98 4.92 4.62 67
68 5.86 5.81 5.63 4.94 5.13 5.11 5.04 4.69 68
69 6.05 5.98 5.77 5.00 5.28 5.25 5.17 4.76 69
70 6.25 6.17 5.92 5.06 5.43 5.40 5.30 4.83 70
71 6.45 6.36 6.07 5.11 5.60 5.56 5.44 4.90 71
72 6.67 6.56 6.23 5.16 5.77 5.73 5.59 4.97 72
73 6.91 6.78 6.39 5.21 5.97 5.92 5.75 5.03 73
74 7.16 7.00 6.56 5.25 6.16 6.11 5.91 5.09 74
75 7.42 7.24 6.72 5.29 6.40 6.33 6.08 5.15 75
76 7.71 7.49 6.90 5.33 6.64 6.55 6.26 5.20 76
77 8.01 7.76 7.07 5.36 6.90 6.79 6.44 5.25 77
78 8.34 8.04 7.24 5.38 7.17 7.04 6.63 5.29 78
79 8.69 8.33 7.42 5.41 7.47 7.31 6.82 5.32 79
80 9.06 8.64 7.59 5.43 7.79 7.59 7.01 5.36 80
81 9.46 8.95 7.77 5.45 8.14 7.90 7.21 5.39 81
82 9.88 9.29 7.94 5.46 8.51 8.22 7.40 5.41 82
83 10.34 9.63 8.10 5.47 8.92 8.56 7.59 5.43 83
84 10.82 9.99 8.25 5.48 9.35 8.91 7.78 5.45 84
85 11.34 10.36 8.40 5.49 9.83 9.29 7.96 5.47 85
---------------------------------------------------------------------------------------------------------
MUVA94 Page 21 of 30
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--------------------------------------------------------------------------------------------------------
FIXED ANNUITY RATES
TABLE 2 - OPTION C
MONTHLY PAYMENT PER $1,000
--------------------------------------------------------------------------------------------------------
MALE/FEMALE JOINT AND SURVIVOR ANNUITY
--------------------------------------------------------------------------------------------------------
MALE FEMALE AGE MALE
---------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------------------------------------------------------------------------------------------------------
40 3.11 3.16 3.24 3.30 3.34 3.38 3.40 3.42 3.43 3.44 40
45 3.15 3.24 3.33 3.41 3.48 3.54 3.58 3.61 3.63 3.65 45
50 3.16 3.29 3.41 3.52 3.63 3.72 3.79 3.84 3.88 3.90 50
55 3.21 3.33 3.48 3.63 3.77 3.91 4.02 4.11 4.16 4.22 55
60 3.22 3.36 3.53 3.71 3.91 4.10 4.28 4.43 4.55 4.63 60
65 3.24 3.39 3.57 3.78 4.02 4.28 4.55 4.79 4.99 5.14 65
70 3.24 3.40 3.59 3.83 4.11 4.44 4.79 5.16 5.50 5.77 70
75 3.25 3.41 3.61 3.86 4.17 4.55 5.00 5.51 6.01 6.47 75
80 3.25 3.42 3.62 3.88 4.21 4.64 5.16 5.80 6.51 7.22 80
85 3.25 3.42 3.63 3.90 4.24 4.69 5.27 6.03 6.94 7.94 85
--------------------------------------------------------------------------------------------------------
MALE(1)MALE(2) JOINT AND SURVIVOR ANNUITY
--------------------------------------------------------------------------------------------------------
MALE(1) MALE(2) AGE MALE(1)
---------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------------------------------------------------------------------------------------------------------
40 3.17 3.24 3.29 3.33 3.37 3.40 3.41 3.43 3.44 3.44 40
45 3.24 3.32 3.40 3.47 3.53 3.57 3.60 3.63 3.64 3.65 45
50 3.29 3.40 3.51 3.61 3.70 3.77 3.83 3.87 3.89 3.91 50
55 3.33 3.47 3.61 3.75 3.89 4.00 4.09 4.16 4.21 4.24 55
60 3.37 3.53 3.70 3.89 4.07 4.25 4.40 4.52 4.60 4.66 60
65 3.40 3.57 3.77 4.00 4.25 4.50 4.73 4.93 5.09 5.20 65
70 3.41 3.60 3.83 4.09 4.40 4.73 5.08 5.40 5.67 5.88 70
75 3.43 3.63 3.87 4.16 4.52 4.93 5.40 5.87 6.31 6.67 75
80 3.44 3.64 3.89 4.21 4.60 5.09 5.67 6.31 6.96 7.57 80
85 3.44 3.65 3.91 4.24 4.66 5.20 5.88 6.67 7.57 8.48 85
--------------------------------------------------------------------------------------------------------
FEMALE(1)FEMALE(2) JOINT AND SURVIVOR ANNUITY
--------------------------------------------------------------------------------------------------------
FEMALE(1) FEMALE(2) AGE FEMALE(1)
---------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
--------------------------------------------------------------------------------------------------------
40 3.06 3.11 3.15 3.19 3.21 3.23 3.24 3.25 3.25 3.25 40
45 3.11 3.19 3.25 3.30 3.34 3.37 3.39 3.40 3.41 3.42 45
50 3.15 3.25 3.34 3.42 3.49 3.54 3.58 3.60 3.62 3.63 50
55 3.19 3.30 3.42 3.54 3.64 3.73 3.79 3.84 3.87 3.89 55
60 3.21 3.34 3.49 3.64 3.79 3.93 4.05 4.13 4.19 4.23 60
65 3.23 3.37 3.54 3.73 3.93 4.13 4.32 4.47 4.59 4.66 65
70 3.24 3.39 3.58 3.79 4.05 4.32 4.60 4.86 5.06 5.21 70
75 3.25 3.40 3.60 3.84 4.13 4.47 4.86 5.25 5.62 5.91 75
80 3.25 3.41 3.62 3.87 4.19 4.59 5.06 5.62 6.16 6.70 80
85 3.25 3.42 3.63 3.89 4.23 4.66 5.21 5.91 6.70 7.52 85
--------------------------------------------------------------------------------------------------------
MUVA94 Page 22 of 30
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------------------------------------------------------------------------------------------------------------
FIXED ANNUITY RATES
TABLE 3 - OPTION D
MONTHLY PAYMENT PER $1,000
------------------------------------------------------------------------------------------------------------
MALE/FEMALE JOINT AND 2/3 ANNUITY
------------------------------------------------------------------------------------------------------------
MALE FEMALE AGE FEMALE
--------------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
------------------------------------------------------------------------------------------------------------
40 3.21 3.26 3.31 3.35 3.38 3.40 3.42 3.43 3.44 3.44 40
45 3.30 3.37 3.43 3.49 3.54 3.58 3.61 3.63 3.64 3.65 45
50 3.40 3.48 3.57 3.65 3.73 3.79 3.84 3.87 3.90 3.91 50
55 3.50 3.60 3.71 3.82 3.93 4.03 4.11 4.17 4.21 4.24 55
60 3.61 3.73 3.86 4.00 4.15 4.30 4.43 4.53 4.61 4.67 60
65 3.73 3.86 4.02 4.19 4.39 4.59 4.79 4.97 5.11 5.22 65
70 3.86 4.01 4.19 4.40 4.64 4.91 5.20 5.48 5.73 5.92 70
75 4.00 4.16 4.36 4.60 4.89 5.23 5.61 6.03 6.42 6.76 75
80 4.14 4.31 4.53 4.80 5.13 5.54 6.03 6.59 7.19 7.74 80
85 4.27 4.46 4.69 4.99 5.36 5.83 6.42 7.14 7.97 8.82 85
-----------------------------------------------------------------------------------------------------------
MALE(1)MALE(2) JOINT AND 2/3 ANNUITY
------------------------------------------------------------------------------------------------------------
MALE(1) MALE(2) AGE MALE(1)
--------------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
------------------------------------------------------------------------------------------------------------
40 3.26 3.30 3.34 3.37 3.40 3.41 3.43 3.44 3.44 3.45 40
45 3.37 3.43 3.48 3.53 3.57 3.60 3.62 3.64 3.65 3.65 45
50 3.48 3.56 3.64 3.71 3.78 3.83 3.86 3.89 3.91 3.92 50
55 3.60 3.71 3.81 3.92 4.01 4.09 4.16 4.20 4.23 4.26 55
60 3.73 3.86 3.99 4.14 4.27 4.40 4.51 4.59 4.65 4.69 60
65 3.87 4.02 4.19 4.37 4.57 4.76 4.93 5.07 5.16 5.26 65
70 4.02 4.19 4.40 4.63 4.88 5.15 5.42 5.65 5.85 6.00 70
75 4.16 4.37 4.60 4.88 5.19 5.55 5.94 6.31 6.64 6.91 75
80 4.33 4.55 4.81 5.12 5.50 5.96 6.48 7.02 7.54 8.01 80
85 4.48 4.72 5.00 5.36 5.80 6.34 7.00 7.73 8.51 9.26 85
------------------------------------------------------------------------------------------------------------
FEMALE(1) FEMALE(2) JOINT AND 2/3 ANNUITY
------------------------------------------------------------------------------------------------------------
FEMALE(1) FEMALE(2) AGE FEMALE(1)
--------------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
------------------------------------------------------------------------------------------------------------
40 3.12 3.16 3.19 3.21 3.23 3.24 3.24 3.25 3.25 3.25 40
45 3.21 3.26 3.31 3.34 3.37 3.39 3.40 3.41 3.42 3.42 45
50 3.30 3.37 3.43 3.49 3.54 3.57 3.60 3.61 3.63 3.63 50
55 3.40 3.48 3.57 3.66 3.73 3.79 3.83 3.87 3.89 3.90 55
60 3.50 3.60 3.72 3.83 3.94 4.04 4.12 4.16 4.22 4.24 60
65 3.61 3.73 3.87 4.02 4.17 4.32 4.46 4.57 4.64 4.69 65
70 3.74 3.88 4.04 4.22 4.42 4.64 4.85 5.03 5.16 5.29 70
75 3.88 4.03 4.22 4.43 4.69 4.97 5.28 5.59 5.86 6.06 75
80 4.03 4.20 4.40 4.65 4.95 5.31 5.73 6.19 6.64 7.03 80
85 4.19 4.37 4.59 4.87 5.22 5.65 6.16 6.81 7.49 8.16 85
------------------------------------------------------------------------------------------------------------
MUVA94 Page 23 of 30
55
---------------------------------------------------------------------
FIXED ANNUITY RATES
TABLE 4 - OPTION E
MONTHLY PAYMENT PER $1000
---------------------------------------------------------------------
YEARS MONTHLY INCOME
---------------------------------------------------------------------
5 $17.91
6 15.14
7 13.16
8 11.68
9 10.53
10 9.61
11 8.86
12 8.24
13 7.71
14 7.26
15 6.87
16 6.53
17 6.23
16 5.96
19 5.73
20 5.51
21 5.32
22 5.15
23 4.99
24 4.84
25 4.71
26 4.59
27 4.47
28 4.37
29 4.27
30 4.16
---------------------------------------------------------------------
MUVA94 Page 24 of 30
56
ANNUITY RATES
-------------
VARIABLE ANNUITY RATES
----------------------
Notes to Tables
---------------
Table 5 - Annuity Options A and B
Table 6 - Annuity Option C
Table 7 - Annuity Option D
Table 8 - Annuity Option E
Note 1: The 1983 Table "a" mortality table, projected to the year 2015 with
Projection Scale G, applies to all Annuity Options which include life
contingent payments. Where applicable, unisex mortality rates and
projection factors are based on a 40%/60% male/female weighting.
Note 2: The Annuity Option rates shown in Tables 5, 6, 7 and 8 are based on an
assumed effective annual interest rate of 4%.
Note 3: Rates will be determined based on the age(s) of any Annuitant(s) on
his/her birthday nearest the Annuity Date. The tables below show
Annuity Option rates based on age nearest birthday.
Note 4: The purchase rate for any age or combination of ages not shown in the
tables below will be calculated on the same basis as the payments for
those shown and may be obtained by Written Request.
MUVA94 Page 25 of 30
57
--------------------------------------------------------------------------------------------------
VARIABLE ANNUITY RATES
TABLE 5 - OPTIONS A & B
MONTHLY PAYMENT PER $1,000
--------------------------------------------------------------------------------------------------
MALE FEMALE
--------------------------------------------------------------------------------------------------
Life 5 Yrs 10 Yrs 20 Yrs Life 5 Yrs 10 Yrs 20 Yrs
Age Only C&L C&L C&L Only C&L C&L C&L Age
--------------------------------------------------------------------------------------------------
50 4.53 4.53 4.51 4.42 4.24 4.24 4.23 4.19 50
51 4.60 4.59 4.56 4.47 4.29 4.29 4.28 4.23 51
52 4.66 4.65 4.63 4.52 4.34 4.33 4.32 4.28 52
53 4.73 4.72 4.69 4.57 4.39 4.39 4.38 4.32 53
54 4.80 4.79 4.76 4.62 4.45 4.44 4.43 4.37 54
55 4.88 4.86 4.83 4.68 4.51 4.50 4.49 4.42 55
56 4.95 4.94 4.90 4.74 4.57 4.56 4.54 4.47 56
57 5.04 5.02 4.98 4.79 4.63 4.63 4.61 4.52 57
58 5.13 5.11 5.06 4.85 4.70 4.70 4.67 4.58 58
59 5.22 5.21 5.15 4.91 4.78 4.77 4.74 4.64 59
60 5.33 5.31 5.24 4.97 4.86 4.85 4.82 4.70 60
61 5.44 5.41 5.34 5.04 4.94 4.93 4.90 4.76 61
62 5.55 5.53 5.44 5.10 5.03 5.02 4.98 4.82 62
63 5.68 5.65 5.55 5.16 5.12 5.11 5.07 4.89 63
64 5.81 5.78 5.67 5.22 5.22 5.21 5.16 4.95 64
65 5.96 5.91 5.79 5.28 5.33 5.31 5.26 5.02 65
66 6.11 6.06 5.91 5.35 5.45 5.43 5.37 5.09 66
67 6.27 6.22 6.04 5.40 5.57 5.55 5.48 5.15 67
68 6.45 6.38 6.16 5.46 5.70 5.68 5.60 5.22 68
69 6.63 6.55 6.32 5.52 5.85 5.82 5.72 5.29 69
70 6.83 6.74 6.46 5.57 6.00 5.96 5.85 5.36 70
71 7.04 6.93 6.61 5.62 6.16 6.12 5.99 5.42 71
72 7.26 7.13 6.77 5.67 6.34 6.29 6.14 5.49 72
73 7.50 7.34 6.92 5.71 6.54 6.48 6.29 5.55 73
74 7.75 7.57 7.09 5.76 6.74 6.67 6.45 5.60 74
75 8.02 7.81 7.25 5.79 6.97 6.89 6.62 5.66 75
76 8.30 8.06 7.42 5.83 7.22 7.11 6.79 5.71 76
77 8.61 8.32 7.59 5.86 7.47 7.35 6.97 5.75 77
78 8.94 8.60 7.76 5.88 7.75 7.60 7.15 5.79 78
79 9.29 8.89 7.93 5.90 8.05 7.87 7.34 5.82 79
80 9.66 9.20 8.10 5.92 8.37 8.15 7.53 5.86 80
81 10.06 9.51 8.27 5.94 8.72 8.45 7.72 5.88 81
82 10.49 9.84 8.43 5.95 9.10 8.77 7.91 5.91 82
83 10.95 10.16 8.59 5.97 9.51 9.11 8.10 5.93 83
84 11.43 10.54 8.74 5.98 9.95 9.47 8.28 5.94 84
85 11.95 10.90 8.88 5.98 10.42 9.84 8.45 5.96 85
--------------------------------------------------------------------------------------------------
MUVA94 Page 26 of 30
58
------------------------------------------------------------------------------------------------------------------
VARIABLE ANNUITY RATES
TABLE 6 - OPTION C
MONTHLY PAYMENT PER $1,000
------------------------------------------------------------------------------------------------------------------
MALE/FEMALE JOINT AND SURVIVOR ANNUITY
------------------------------------------------------------------------------------------------------------------
MALE FEMALE AGE MALE
-----------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
------------------------------------------------------------------------------------------------------------------
40 3.73 3.80 3.86 3.91 3.95 3.98 4.01 4.03 4.05 4.05 40
45 3.77 3.85 3.93 4.01 4.08 4.13 4.16 4.21 4.23 4.25 45
50 3.80 3.90 4.01 4.11 4.21 4.30 4.37 4.43 4.47 4.49 50
55 3.83 3.94 4.07 4.21 4.35 4.48 4.59 4.69 4.76 4.80 55
60 3.84 3.97 4.12 4.29 4.48 4.66 4.84 4.99 5.11 5.20 60
65 3.86 3.99 4.16 4.36 4.59 4.84 5.10 5.34 5.54 5.70 65
70 3.87 4.01 4.19 4.41 4.68 4.99 5.34 5.70 6.04 6.31 70
75 3.87 4.02 4.21 4.44 4.74 5.11 5.55 6.04 6.55 7.01 75
80 3.88 4.03 4.22 4.47 4.79 5.19 5.71 6.34 7.04 7.75 80
85 3.88 4.03 4.23 4.48 4.81 5.25 5.82 6.57 7.47 8.47 85
------------------------------------------------------------------------------------------------------------------
MALE(1)MALE(2) JOINT AND SURVIVOR ANNUITY
------------------------------------------------------------------------------------------------------------------
MALE(1) MALE(2) AGE MALE(1)
-----------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
------------------------------------------------------------------------------------------------------------------
40 3.79 3.85 3.90 3.94 3.98 4.01 4.03 4.04 4.05 4.06 40
45 3.85 3.93 4.00 4.07 4.12 4.17 4.20 4.23 4.24 4.25 45
50 3.90 4.00 4.10 4.20 4.28 4.36 4.41 4.45 4.48 4.50 50
55 3.94 4.07 4.20 4.33 4.46 4.57 4.67 4.74 4.79 4.82 55
60 3.98 4.12 4.28 4.46 4.64 4.81 4.96 5.08 5.17 5.23 60
65 4.01 4.17 4.36 4.57 4.81 5.05 5.28 5.48 5.65 5.76 65
70 4.03 4.20 4.41 4.67 4.96 5.28 5.62 5.94 6.22 6.43 70
75 4.04 4.23 4.45 4.74 5.08 5.48 5.94 6.40 6.84 7.22 75
80 4.05 4.24 4.48 4.79 5.17 5.65 6.22 6.84 7.50 8.11 80
85 4.06 4.25 4.50 4.82 5.23 5.76 6.43 7.22 8.11 9.02 85
------------------------------------------------------------------------------------------------------------------
FEMALE(1)FEMALE(2) JOINT AND SURVIVOR ANNUITY
------------------------------------------------------------------------------------------------------------------
FEMALE(1) FEMALE(2) AGE FEMALE(1)
-----------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
------------------------------------------------------------------------------------------------------------------
40 3.69 3.74 3.78 3.81 3.83 3.85 3.86 3.87 3.87 3.88 40
45 3.74 3.80 3.86 3.91 3.95 3.98 4.00 4.01 4.02 4.03 45
50 3.78 3.86 3.94 4.02 4.08 4.13 4.17 4.19 4.21 4.22 50
55 3.81 3.91 4.02 4.12 4.22 4.31 4.37 4.42 4.45 4.48 55
60 3.83 3.95 4.08 4.22 4.37 4.50 4.61 4.70 4.76 4.80 60
65 3.85 3.98 4.13 4.31 4.50 4.69 4.87 5.03 5.14 5.22 65
70 3.86 4.00 4.17 4.37 4.61 4.87 5.14 5.40 5.61 5.76 70
75 3.87 4.01 4.19 4.42 4.70 5.03 5.40 5.79 6.15 6.45 75
80 3.87 4.02 4.21 4.45 4.76 5.14 5.61 6.15 6.71 7.23 80
85 3.88 4.03 4.22 4.48 4.80 5.22 5.76 6.45 7.23 8.05 85
------------------------------------------------------------------------------------------------------------------
MUVA94 Page 27 of 30
59
------------------------------------------------------------------------------------------------------------------
VARIABLE ANNUITY RATES
TABLE 7 - OPTION D
MONTHLY PAYMENT PER $1,000
------------------------------------------------------------------------------------------------------------------
MALE/FEMALE JOINT AND 2/3 ANNUITY
------------------------------------------------------------------------------------------------------------------
MALE FEMALE AGE MALE
-----------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
------------------------------------------------------------------------------------------------------------------
40 3.84 3.88 3.92 3.96 3.99 4.01 4.03 4.04 4.05 4.06 40
45 3.93 3.98 4.04 4.09 4.14 4.16 4.21 4.23 4.25 4.26 45
50 4.02 4.09 4.17 4.24 4.31 4.37 4.42 4.46 4.49 4.51 50
55 4.12 4.21 4.31 4.41 4.51 4.60 4.68 4.75 4.79 4.83 55
60 4.24 4.34 4.46 4.59 4.73 4.86 4.99 5.10 5.16 5.24 60
65 4.37 4.49 4.62 4.79 4.97 5.16 5.35 5.53 5.67 5.78 65
70 4.52 4.65 4.81 5.00 5.23 5.48 5.76 6.04 6.28 6.48 70
75 4.68 4.82 5.00 5.22 5.49 5.81 6.16 6.58 6.97 7.31 75
80 4.84 5.00 5.20 5.44 5.75 6.14 6.61 7.16 7.74 8.30 80
85 5.01 5.16 5.39 5.66 6.01 6.46 7.03 7.73 8.54 9.38 85
------------------------------------------------------------------------------------------------------------------
MALE(1)MALE(2) JOINT AND 2/3 ANNUITY
------------------------------------------------------------------------------------------------------------------
MALE(1) MALE(2) AGE MALE(1)
-----------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
------------------------------------------------------------------------------------------------------------------
40 3.88 3.92 3.96 3.99 4.01 4.03 4.04 4.05 4.06 4.06 40
45 3.98 4.04 4.09 4.13 4.17 4.20 4.22 4.24 4.25 4.26 45
50 4.09 4.17 4.24 4.31 4.36 4.41 4.45 4.48 4.50 4.51 50
55 4.21 4.31 4.40 4.50 4.59 4.67 4.73 4.78 4.82 4.84 55
60 4.35 4.46 4.58 4.71 4.85 4.97 5.07 5.16 5.22 5.26 60
65 4.50 4.63 4.78 4.96 5.14 5.32 5.49 5.63 5.74 5.83 65
70 4.67 4.82 5.00 5.22 5.46 5.72 5.98 6.21 6.41 6.56 70
75 4.84 5.02 5.23 5.48 5.78 6.13 6.50 6.86 7.19 7.47 75
80 5.02 5.22 5.46 5.76 6.12 6.55 7.06 7.58 8.10 8.57 80
85 5.20 5.42 5.68 6.02 6.44 6.96 7.60 8.32 9.08 9.82 85
------------------------------------------------------------------------------------------------------------------
FEMALE(1)FEMALE(2) JOINT AND 2/3 ANNUITY
------------------------------------------------------------------------------------------------------------------
FEMALE(1) FEMALE(2) AGE FEMALE(1)
-----------------------------------------------------------------------------
AGE 40 45 50 55 60 65 70 75 80 85 AGE
------------------------------------------------------------------------------------------------------------------
40 3.76 3.79 3.81 3.83 3.85 3.86 3.87 3.87 3.88 3.88 40
45 3.83 3.88 3.92 3.95 3.98 4.00 4.01 4.02 4.03 4.03 45
50 3.92 3.98 4.04 4.09 4.13 4.17 4.19 4.21 4.22 4.23 50
55 4.01 4.09 4.17 4.24 4.31 4.37 4.42 4.45 4.47 4.49 55
60 4.12 4.21 4.31 4.42 4.52 4.61 4.69 4.75 4.79 4.82 60
65 4.24 4.35 4.47 4.60 4.75 4.89 5.02 5.12 5.20 5.26 65
70 4.38 4.50 4.64 4.81 5.00 5.20 5.40 5.59 5.73 5.84 70
75 4.54 4.67 4.84 5.04 5.27 5.54 5.84 6.14 6.40 6.61 75
80 4.72 4.87 5.05 5.28 5.56 5.90 6.30 6.75 7.19 7.58 80
85 4.90 5.07 5.27 5.53 5.85 6.26 6.77 7.39 8.05 8.71 85
------------------------------------------------------------------------------------------------------------------
MUVA94 Page 28 of 30
60
---------------------------------------------------------------------
VARIABLE ANNUITY RATES
TABLE 8 - OPTION E
MONTHLY PAYMENT PER $1000
---------------------------------------------------------------------
YEARS MONTHLY INCOME
---------------------------------------------------------------------
5 $16.35
6 15.59
7 13.62
8 12.14
9 11.00
10 10.09
11 9.34
12 8.72
13 8.20
14 7.75
15 7.37
16 7.03
17 6.74
16 6.48
19 6.24
20 6.03
21 5.85
22 5.68
23 5.52
24 5.38
25 5.26
26 5.14
27 5.03
28 4.93
29 4.84
30 4.75
------------------------ --------------------------------------------
MUVA94 Page 29 of 30
61
INDIVIDUAL VARIABLE DEFERRED ANNUITY CONTRACT
WITH FLEXIBLE PURCHASE PAYMENTS
Non-participating
ANNUITY PAYMENTS, WITHDRAWAL VALUES AND THE DEATH BENEFITS PROVIDED BY THIS
CONTRACT, WHEN BASED ON THE INVESTMENT EXPERIENCE OF THE SEPARATE ACCOUNT, ARE
VARIABLE AND ARE NOT GUARANTEED AS TO DOLLAR AMOUNT.
MUVA94 Page 30 of 30
62
C.M. LIFE INSURANCE COMPANY
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
DECLARED INTEREST RATE
FIXED ACCOUNT ENDORSEMENT
-------------------------
This Endorsement modifies the Contract to which it is attached. The effective
date of this Endorsement is the Issue Date shown on the Contract Schedule. In
the case of a conflict with any provision in the Contract, the provisions of
this Endorsement will control.
The Contract is modified as follows:
RIGHT TO EXAMINE: The Right to Examine Contract provision of the Contract also
applies to this Endorsement if any portion of the initial Net Purchase Payment
under the Contract is allocated to the Fixed Account.
I. The following are added to amend the DEFINITION Section of the Contract:
DEFINITIONS
CONTRACT VALUE The sum of the Contract Owner's interest in the
Sub-Accounts of the Separate Account and the Contract
Owner's interest in the Fixed Account during the
Accumulation Period.
FIXED ACCOUNT An investment option within the General Account which may
be selected during the Accumulation Period.
II. The TRANSFERS DURING THE ACCUMULATION PERIOD Section of the Contract is
deleted and replaced with the following:
TRANSFERS
TRANSFERS DURING THE ACCUMULATION PERIOD
Subject to any limitations imposed by the Company on the number of
transfers and the minimum and maximum amounts to be transferred, shown on
the Contract Schedule, the Contract Owner may transfer during the
Accumulation Period all or part of the Contract Owner's interest in the
Fixed Account or a Sub-Account by Written Request without the imposition of
any fee or charge if there have been no more than the number of free
transfers shown on the Contract Schedule. All transfers are subject to the
following:
MUVA95FA 1 of 3
63
1. If more than the number of free transfers have been made, the Company
will deduct a Transfer Fee, shown on the Contract Schedule, for each
subsequent transfer permitted. The Transfer Fee will be deducted from
the Contract Owner's interest in the Fixed Account or from the
Sub-Account from which the transfer is made. However, if the Contract
Owner's entire interest in the Fixed Account or the Sub-Account is
being transferred, the Transfer Fee will be deducted from the amount
which is transferred. If Contract Values are being transferred from
more than one Sub-Account and/or the Fixed Account, any Transfer Fee
will be allocated to those Sub-Accounts and the Fixed Account on a
pro-rata basis in proportion to the amount transferred from each
Sub-Account and the Fixed Account.
2. The minimum and maximum amount which can be transferred is shown on
the Contract Schedule. The minimum amount which must remain in the
Fixed Account or a Sub-Account is shown on the Contract Schedule.
3. The Company reserves the right, at any time and without prior notice
to any party, to terminate, suspend or modify the transfer privilege
described above.
If the Contract Owner elects to use this transfer privilege, the Company
will not be liable for transfers made in accordance with the Contract
Owner's instructions. All amounts and Accumulation Units will be determined
as of the end of the Valuation Period during which the request for transfer
is received at the Annuity Service Center.
III. The following amends the WITHDRAWAL PROVISIONS Section of the Contract:
WITHDRAWAL PROVISIONS
WITHDRAWAL
Any withdrawal will be deducted from each applicable Sub-Account and the
Fixed Account in the ratio that the Contract Owner's interest in the
Sub-Account or Fixed Account bears to the total Contract Value. The
Contract Owner must specify by Written Request in advance if other than the
above method is desired. If the Contract Owner makes a total withdrawal,
all of the Contract Owner's rights and interests in the Contract will
terminate.
IV. The following is added to the SUSPENSION OR DEFERRAL OF PAYMENTS PROVISIONS
Section of the Contract:
The Company reserves the right to postpone payments from the Fixed Account
for a period of up to six months.
V. The following hereby deletes and amends Annuity Guideline 5 contained in
the ANNUITY GUIDELINES of the ANNUITY PROVISIONS Section of the contract:
If no Annuity Option has been chosen at least thirty (30) calendar days
before the Annuity Date, the Company will make payments to the Annuitant
under Option B, with 10 years of payments guaranteed. Unless specified
otherwise, that portion of the Contract Value allocated to the Separate
Account shall be used to provide a Variable Annuity and that portion of the
Contract Value allocated to the Fixed Account shall be used to provide a
Fixed Annuity.
MUVA95FA 2 of 3
64
VI. The following section is added to the Contract:
FIXED ACCOUNT PROVISIONS
FIXED ACCOUNT
The Contract Owner can elect to have Net Purchase Payments allocated to the
Fixed Account. During the Accumulation Period the Contract Owner can transfer
Contract Values to the Fixed Account from the Separate Account and from the
Fixed Account to Separate Account, subject to the Transfers During the
Accumulation Period Section set forth in this Endorsement.
FIXED ACCOUNT VALUES
The Fixed Account Value of a Contract Owner's Account at any time is equal to:
1. the Net Purchase Payments allocated to the Fixed Account; plus
2. the Contract Value transferred to the Fixed Account; plus
3. interest credited to the Contract Value in the Fixed Account; less
4. any prior withdrawals of Contract Value from the Fixed Account and any
applicable charges; less
5. any Contract Value transferred from the Fixed Account; less
6. Contract Maintenance Charges or Transfer Fees or any applicable
Premium Taxes.
INTEREST TO BE CREDITED
The Company guarantees that the interest to be credited to the Fixed Account
will not be less than the Minimum Guaranteed Interest Rate shown on the Contract
Schedule. The Company may credit additional interest at its sole discretion.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MUVA95FA 3 of 3
65
C.M. LIFE INSURANCE COMPANY
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
TERMINAL ILLNESS BENEFIT ENDORSEMENT
------------------------------------
This Endorsement modifies the Contract to which it is attached. The effective
date of this Endorsement is the Issue Date shown on the Contract Schedule of the
Contract or at a later date acceptable to the Company. In case of a conflict
with any provision in the Contract, the provisions of this Endorsement will
control. The following is hereby added to the Contract:
TERMINAL ILLNESS BENEFIT
Upon Written Request, the Contract Owner may elect a Terminal Illness Benefit
during the Accumulation Period, subject to the following proof of illness
requirement:
The Company will require proof that the Contract Owner is terminally ill and not
expected to live more than 12 months. This proof will include, but is not
limited to, certification by a licensed medical practitioner performing within
the scope of his/her license. The licensed medical practitioner must not be the
Contract Owner, or the parent, spouse or child of the Contract Owner.
A Terminal Illness Benefit will be paid only to the Contract Owner upon Written
Request. The benefit amount to be paid will be equal to the amount determined in
accordance with the provisions of the applicable Death Benefit then in effect.
If Joint Contract Owners are named, the Age of the oldest will be used to
determine the Terminal Illness Benefit. If the Contract is owned by a
non-natural person, then Contract Owner shall mean Annuitant.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MU99TI
66
C.M. LIFE INSURANCE COMPANY
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
BASIC DEATH BENEFIT ENDORSEMENT
-------------------------------
This Endorsement modifies the Contract to which it is attached. The effective
date of this Endorsement is the Issue Date shown on the Contract Schedule of the
Contract or a later date acceptable to the Company. In case of a conflict with
any provision in the Contract, the provisions of this Endorsement will control.
The following hereby amends and supersedes the section of the Contract captioned
"Proceeds Payable On Death - Death Benefit Amount During the Accumulation
Period":
PROCEEDS PAYABLE ON DEATH
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD
Prior to attaining Age 80, the death benefit during the Accumulation Period will
be the greater of the Purchase Payments, less any withdrawals and any applicable
charges, or the Contract Value less any applicable charges determined as of the
end of the Valuation Period during which the Company receives at its Annuity
Service Center both due proof of death and an election of the payment method.
After attaining Age 80, the death benefit will be equal to the Contract Value.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MU99DBasic
67
C.M. LIFE INSURANCE COMPANY
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RESET DEATH BENEFIT ENDORSEMENT
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This Endorsement modifies the Contract to which it is attached. The effective
date of this Endorsement is the Issue Date shown on the Contract Schedule of the
Contract or a later date if acceptable to the Company. In case of a conflict
with any provision in the Contract, the provisions of this Endorsement will
control. The following hereby amends and supersedes the section of the Contract
captioned "Proceeds Payable On Death - Death Benefit Amount During The
Accumulation Period":
PROCEEDS PAYABLE ON DEATH
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD
Prior to the Contract Owner attaining Age 75, the Death Benefit during the
Accumulation Period will be the greater of:
1. The Purchase Payments, less any withdrawals including any applicable
charges; or
2. The Contract Value determined as of the end of the Valuation Period
during which the Company receives at its Annuity Service Center both
due proof of death and an election of the payment method; or
3. The Contract Value on the most recent three (3) year Contract
Anniversary plus any subsequent Purchase Payments less any subsequent
withdrawals and any applicable charges.
Upon the Contract Owner attaining Age 75, the Death Benefit during the
Accumulation Period will be the greater of:
1. The Purchase Payments, less any withdrawals including any applicable
charges; or
2. The Contract Value determined as of the end of the Valuation Period
during which the Company receives at its Annuity Service Center both
due proof of death and an election of the payment method; or
3. The Contract Value on the most recent three (3) year Contract
Anniversary prior to the Contract Owner attaining age 75, plus any
subsequent Purchase Payments less any subsequent withdrawals,
including any applicable charges.
If Joint Contract Owners are named, the Age of the oldest will be used to
determine the Death Benefit. If the Contract is owned by a non-natural person,
then Contract Owner shall mean Annuitant.
Death Benefit Charge: Quarterly the Company deducts a Death Benefit Charge from
each Sub-Account of the Separate Account and the General Account in an amount,
on an annual basis, no greater than the amount shown on the Contract Schedule.
The Death Benefit Charge will be deducted from the Sub-Accounts, the Fixed
Account and the Fixed Account for Dollar Cost Averaging in the same proportion
that the amount of the Contract Value in each Sub-Account or the Fixed Account
or the Fixed Account for Dollar Cost Averaging bears to the total Contract
Value.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MU99Dbrset
68
C.M. LIFE INSURANCE COMPANY
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ANNUAL RATCHET DEATH BENEFIT ENDORSEMENT
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This Endorsement modifies the Contract to which it is attached. The effective
date of this Endorsement is the Issue Date shown on the Contract Schedule of the
Contract or a later date acceptable to the Company. In case of a conflict with
any provision in the Contract, the provisions of this Endorsement will control.
The following hereby amends and supersedes the section of the Contract captioned
"Proceeds Payable On Death - Death Benefit Amount During The Accumulation
Period":
PROCEEDS PAYABLE ON DEATH
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD
If the Death Benefit is payable due to the death of the Contract Owner during
the Accumulation Period, the amount of the Death Benefit will be the greater of
the Contract Value less any applicable charges or the value of the Annual
Ratchet Death Benefit less any applicable charges.
On the Issue Date, the Annual Ratchet Death Benefit is equal to the Initial
Purchase Payment.
After the Issue Date and prior to the Contract Owner or the oldest Joint Owner,
or Annuitant if the Contract is owned by a non-natural person attaining Age 80,
the Annual Ratchet Death Benefit is recalculated when a Purchase Payment or a
withdrawal is made or on a Contract Anniversary as follows:
1. For Purchase Payments, the Annual Ratchet Death Benefit is equal to the
most recently calculated Annual Ratchet Death Benefit plus the Purchase
Payment.
2. For withdrawals, the Annual Ratchet Death Benefit is equal to the most
recently calculated Annual Ratchet Death Benefit reduced by an adjustment
for withdrawals. The adjustment is equal to A divided by B, with the result
multiplied by C, where:
A = the withdrawal amount.
B = the Contract Value immediately prior to the withdrawal.
C = the most recently calculated Annual Ratchet Death Benefit.
3. On each Contract Anniversary, the Annual Ratchet Death Benefit is equal to
the greater of the Contract Value or the most recently calculated Annual
Ratchet Death Benefit.
In the absence of any withdrawals or Purchase Payments, the Annual Ratchet Death
Benefit will be the greatest of all Contract Anniversary Contract Values on or
prior to the date we calculate the death benefit.
At and after Age 80, the death benefit is the greater of Contract Value or the
Annual Ratchet Death Benefit calculated on the anniversary just prior to Age 80
adjusted pursuant to the Annual Ratchet Death Benefit recalculation formula as
described in 1. and 2. above.
Death Benefit Charge: Quarterly the Company deducts a Death Benefit Charge from
each Sub-Account of the Separate Account and the General Account in an amount,
on an annual basis, no greater than the amount shown on the Contract Schedule.
The Death Benefit Charge will be deducted from the Sub-Accounts, the Fixed
Account and the Fixed Account for Dollar Cost Averaging in the same proportion
that the amount of the Contract Value in each sub-Account or the Fixed Account
or the Fixed Account for Dollar Cost Averaging bears to the total Contract
Value.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MU99Dbrach
69
C.M. LIFE INSURANCE COMPANY
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FIXED ACCOUNT FOR DOLLAR COST AVERAGING ENDORSEMENT
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This Endorsement modifies the Contract to which it is attached. In the case of a
conflict with any provision in the Contract, the provisions of this Endorsement
will control.
The following provision is added to the Contract:
FIXED ACCOUNT FOR DOLLAR COST AVERAGING
During the Accumulation Period the Contract Owner may elect to have a Purchase
Payment designated for allocation to the Fixed Account for Dollar Cost Averaging
(hereinafter referred to as "DCA Fixed Account"). The DCA Fixed Account is part
of the Company's General Account.
Purchase Payment for a DCA Fixed Account Term: For each DCA Fixed Account Term,
the Company will only accept a Purchase Payment as of the beginning of the DCA
Fixed Account Term. A Purchase Payment includes any Purchase Payment assigned to
and accepted by the Company from a financial institution as of the request for a
DCA Fixed Account Term. The Company reserves the right to reject Purchase
Payments.
Allocations: Only a new net Purchase Payment may be designated for allocation to
the DCA Fixed Account at the beginning of a DCA Fixed Account Term. No transfers
may be made to the DCA Fixed Account from any other account or Sub-Account
maintained under the Contract.
DCA Fixed Account Term: The term for the DCA Fixed Account will be a period not
to exceed [12] months beginning with receipt of a new Purchase Payment. Only one
DCA Fixed Account Term may be operative at a time. If the Contract Owner elects
to make an allocation to a DCA Fixed Account at a time when the period to the
Contract Owner's Annuity Date would be less than the currently offered DCA Fixed
Account Term, then the expiration of the DCA Fixed Account Term would be the
Contract Owner's Annuity Date. No amounts will remain under the DCA Fixed
Account after the expiration of the DCA Fixed Account Term.
DCA Fixed Account Interest Rate: The interest rate credited to the DCA Fixed
Account will be set periodically by the Company and will never be less than the
minimum guaranteed interest rate appearing on the Contract Schedule for the
Fixed Account. The interest rate will be guaranteed for the DCA Fixed Account
Term.
Transfers: Except for scheduled DCA Fixed Account transfer payments, no
transfers may be made from the DCA Fixed Account before the expiration of the
DCA Fixed Account Term. DCA Fixed Account transfer payments will be made on the
scheduled transfer payment dates. If a scheduled transfer payment date is not a
Valuation Date, the transfer will be made on the next Valuation Date. Scheduled
transfer payments may be made from the DCA Fixed Account to all Sub-Accounts.
The transfer provisions described in the last two paragraphs of the section of
the Contract Schedule entitled "Minimum and Maximum Amount to be Transferred"
are not operative with respect to the DCA Fixed Account.
Contract Value: Unless specified otherwise, the term "Contract Value" shall mean
the sum of the Contract Owner's interest in the Sub-Accounts of the Separate
Account, the Fixed Account, plus the DCA Fixed Account.
CM-ANEND1998-01 Page 1 of 2
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DCA Fixed Account Value: Unless specified otherwise, the "DCA Fixed Account
Value" of a Contract Owner's Account at any time is equal to:
1. the Net Purchase Payment allocated to the DCA Fixed Account; plus
2. the interest credited to that portion of the Contract Value attributable to
the DCA Fixed Account; less
3. any Contract Value transferred from the DCA Fixed Account; less
4. applicable charges, fees or taxes.
Charges: The Company reserves the right to assess a fee or charge for processing
transactions under the DCA Fixed Account.
Withdrawal: No partial withdrawals may be made from the DCA Fixed Account. If a
total withdrawal is made during a DCA Fixed Account Term, such withdrawal will
be made in accordance with the withdrawal provisions of the Contract.
Suspension or Deferral of Payments: The Company reserves the right to postpone
payments for a withdrawal or transfer from the DCA Fixed Account for a period of
up to six months.
Fixed Annuity: Unless specified otherwise, that portion of the Contract Value
attributable to the DCA Fixed Account shall be used to provide a Fixed Annuity
to the Annuitant (Option B with 10 years of payments guaranteed) if no Annuity
Option has been chosen at least 30 calendar days before the Annuity Date. If the
amount applied under an Annuity Option is less than $2,000, the Company reserves
the right to pay the amount in a lump sum.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
CM-ANEND1998-01 Page 2 of 2
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C.M. LIFE INSURANCE COMPANY
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FIXED ACCOUNT FOR DOLLAR COST AVERAGING ENDORSEMENT
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This Endorsement modifies the Contract to which it is attached. In the case of a
conflict with any provision in the Contract, the provisions of this Endorsement
will control.
The following provision is added to the Contract:
FIXED ACCOUNT FOR DOLLAR COST AVERAGING
During the Accumulation Period the Contract Owner may elect to have a Purchase
Payment designated for allocation to the Fixed Account for Dollar Cost Averaging
(hereinafter referred to as "DCA Fixed Account"). The DCA Fixed Account is part
of the Company's General Account.
Purchase Payment for a DCA Fixed Account Term: For each DCA Fixed Account Term,
the Company will only accept a Purchase Payment as of the beginning of the DCA
Fixed Account Term. A Purchase Payment includes any Purchase Payment assigned to
and accepted by the Company from a financial institution as of the request for a
DCA Fixed Account Term. The Company reserves the right to reject Purchase
Payments.
Allocations: Only a new net Purchase Payment may be designated for allocation to
the DCA Fixed Account at the beginning of a DCA Fixed Account Term. No transfers
may be made to the DCA Fixed Account from any other account or Sub-Account
maintained under the Contract.
DCA Fixed Account Term: The term for the DCA Fixed Account will be a period not
to exceed 6 months beginning with receipt of a new Purchase Payment. Only one
DCA Fixed Account Term may be operative at a time. If the Contract Owner elects
to make an allocation to a DCA Fixed Account at a time when the period to the
Contract Owner's Annuity Date would be less than the currently offered DCA Fixed
Account Term, then the expiration of the DCA Fixed Account Term would be the
Contract Owner's Annuity Date. No amounts will remain under the DCA Fixed
Account after the expiration of the DCA Fixed Account Term.
DCA Fixed Account Interest Rate: The interest rate credited to the DCA Fixed
Account will be set periodically by the Company and will never be less than the
minimum guaranteed interest rate appearing on the Contract Schedule for the
Fixed Account. The interest rate will be guaranteed for the DCA Fixed Account
Term.
Transfers: Except for scheduled DCA Fixed Account transfer payments, no
transfers may be made from the DCA Fixed Account before the expiration of the
DCA Fixed Account Term. DCA Fixed Account transfer payments will be made on the
scheduled transfer payment dates. If a scheduled transfer payment date is not a
Valuation Date, the transfer will be made on the next Valuation Date. Scheduled
transfer payments may be made from the DCA Fixed Account to all Sub-Accounts.
The transfer provisions described in the last two paragraphs of the section of
the Contract Schedule entitled "Minimum and Maximum Amount to be Transferred"
are not operative with respect to the DCA Fixed Account.
Contract Value: Unless specified otherwise, the term "Contract Value" shall mean
the sum of the Contract Owner's interest in the Sub-Accounts of the Separate
Account, the Fixed Account, plus the DCA Fixed Account.
CM-ANEND1998-01 Page 1 of 2
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DCA Fixed Account Value: Unless specified otherwise, the "DCA Fixed Account
Value" of a Contract Owner's Account at any time is equal to:
5. the Net Purchase Payment allocated to the DCA Fixed Account; plus
6. the interest credited to that portion of the Contract Value attributable to
the DCA Fixed Account; less
7. any Contract Value transferred from the DCA Fixed Account; less
8. applicable charges, fees or taxes.
Charges: The Company reserves the right to assess a fee or charge for processing
transactions under the DCA Fixed Account.
Withdrawal: No partial withdrawals may be made from the DCA Fixed Account. If a
total withdrawal is made during a DCA Fixed Account Term, such withdrawal will
be made in accordance with the withdrawal provisions of the Contract.
Suspension or Deferral of Payments: The Company reserves the right to postpone
payments for a withdrawal or transfer from the DCA Fixed Account for a period of
up to six months.
Fixed Annuity: Unless specified otherwise, that portion of the Contract Value
attributable to the DCA Fixed Account shall be used to provide a Fixed Annuity
to the Annuitant (Option B with 10 years of payments guaranteed) if no Annuity
Option has been chosen at least 30 calendar days before the Annuity Date. If the
amount applied under an Annuity Option is less than $2,000, the Company reserves
the right to pay the amount in a lump sum.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
CM-ANEND1998-01 Page 2 of 2
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C.M. LIFE INSURANCE COMPANY
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TAX SHELTERED ANNUITY ENDORSEMENT
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This Endorsement modifies the Contract to which it is attached. The effective
date of this Endorsement is the Issue Date shown on the Contract Schedule. In
case of a conflict with any provision in the Contract, the provisions of this
Endorsement will control. This Endorsement adds the following changes that are
required to make this Contract a Tax Sheltered Annuity (TSA) under the Internal
Revenue Code (I.R.C.).
(1) The interest of the Contract Owner is not forfeitable. Unless provided by
another endorsement or amendment, this Contract cannot be transferred,
assigned, or used as security for a loan.
(2) The Annuity Date must be no earlier than the date the Annuitant attains age
59-1/2.
(3) A "disbursement" from this Contract, as used within the meaning of I.R.C.
Section 403(b), occurs upon:
. Annuity Date
. Surrender
. Partial withdrawal; or
. Payment of Death Benefit.
(4) Disbursement of any amounts cited below in items (a) through (g) may be
made at any time before the Contract Annuity Date.
(a) Amounts accumulated prior to January 1, 1989, that are made a part of
this Contract by means of a direct transfer or rollover from another
TSA to this Contract.
(b) ▇▇▇▇▇▇▇ returned to the Annuitant as excess Purchase Payments.
(c) Amounts of this Contract transferred to another TSA or custodial
account.
(d) ▇▇▇▇▇▇▇ paid under a qualified domestic relations order as defined in
I.R.C. Section 414(p).
(e) The Contract Value with respect to any Purchase Payments made by the
employer, other than through a Salary Reduction Agreement.
(f) The Contract Value with respect to any Purchase Payments made by the
Annuitant that are subject to federal income tax in the year such
payments are made.
(g) Contributions and earnings that were rolled from another contract or
custodial account upon separation from service with a previous
employer.
The amounts cited above in items (e) and (f) exclude any transfer or
rollover amounts from a custodial account to this Contract.
Disbursement of any other amounts may be made only if the Annuitant:
. Is at least age 59-1/2 years; or
. Separates from service with his or her employer; or
. Dies; or
. Becomes disabled within the meaning of I.R.C. Section 72(m)(7);
or
. Incurs financial hardship. However, the additional amount that
may be disbursed because of financial hardship may not exceed the
sum of:
MU99TSA Page 1
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1. Any Contract Value amounts accumulated prior to January 1, 1989,
that are made a part of this Contract by means of a transfer or
rollover from a custodial account to this Contract; and
2. Any Purchase Payments made through a Salary Reduction Agreement
after December 31, 1988.
. A "Salary Reduction Agreement," as used in this Contract, permits the
employer to pay a portion of the Annuitant's salary into a TSA or
custodial account.
. The term "employer," as used in this Contract, means the organization
purchasing the TSA or custodial account.
. The term "custodial account," as used in this Contract, is as defined
in I.R.C. Section 403(b)(7).
(5) A disbursement is required to be made from this Contract for the later of
the calendar year in which the Annuitant reaches age 70-1/2 or the calendar
year in which the Annuitant retires, and for each calendar year thereafter
until the entire Contract Value is disbursed. Such a disbursement may be
made by redeeming the Contract or by partial withdrawals.
If a required disbursement is made by a partial withdrawal, the sum of
payments for each calendar year is subject to a minimum. For each year, the
minimum will be the Contract Value at the end of the previous year divided
by the life expectancy of the Annuitant as of the Annuitant's birthday in
the current year.
A required disbursement for the calendar year in which the Annuitant
attains age 70-1/2 or retires, if later, must be made in full no later than
the first day of April next following that year; a required disbursement
for any subsequent year must be made in full no later than December 31 of
that year. If not, adverse tax effects may result.
(6) The Annuitant may elect to roll over a disbursement from this Contract
directly to an Individual Retirement Annuity or Account (IRA) or to another
TSA. For such a direct rollover, the following conditions must be met:
. The IRA or TSA to which the disbursement is being rolled over
must accept such direct rollovers;
. The rollover must be a disbursement of amounts that would
otherwise be subject to federal income tax;
. The rollover must not be part of a series of substantially equal
periodic payments made over the lifetime of the Annuitant, the
joint and survivor lifetime of the Annuitant and the Annuitant's
beneficiary, or a period of ten years or greater; and
. A required disbursement cannot be directly rolled over.
The direct rollover rules also apply to the Annuitant's surviving spouse or
former spouse who is an "alternate payee" under a qualified domestic
relations order as defined in I.R.C. Section 414(p). That is, a surviving
spouse or former spouse who is an alternate payee can directly roll over a
disbursement from this Contract to an IRA as described above.
(7) If a disbursement is made by maturing, redeeming or surrendering this
Contract, the Settlement Option elected must be one of those set forth in
Contract. The Settlement Option elected must also comply with the minimum
distribution incidental benefit requirements of I.R.C. Section 401(a)(9).
(8) If the Annuitant dies:
. Before the Contract Annuity Date; or
. Before the first day of April of the calendar year following the
calendar year in which the Annuitant reaches age 70-1/2 years;
MU99TSA Page 2
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disbursement of the death proceeds must be completed by the end
of the fifth calendar year after the calendar year of the
Annuitant's death. This restriction does not apply if payment of
the death benefit is made over the lifetime of the beneficiary or
over a period not extending beyond the life expectancy of the
beneficiary, with disbursement beginning within 1 year of the
date of the Annuitant's death.
The term "life expectancy", as used in this contract, is as defined in
I.R.C. Section 72.
If the beneficiary is the surviving spouse of the Annuitant, disbursement
may begin at any time up to the later of:
. The end of the calendar year following the calendar year of the
Annuitant's death; or
. The end of the calendar year in which the Annuitant would have
attained age 70-1/2 years.
If the beneficiary is the surviving spouse, such beneficiary may elect a
direct rollover to an IRA as described above.
Any other death proceeds payable after the Annuitant's death must be
disbursed at least as rapidly as under the payment option in effect as of
the date of death.
(9) Purchase Payments made through a Salary Reduction Agreement shall not
exceed the TSA limitations of I.R.C. Sections 403(b) and 402(g).
(10) The provisions of this Contract will be changed, if necessary, to assure
that this Contract remains a TSA under I.R.C. Section 403(b), as amended
from time to time.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MU99TSA Page 3
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C.M. LIFE INSURANCE COMPANY
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INDIVIDUAL RETIREMENT ANNUITY ENDORSEMENT
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This Endorsement modifies the Contract to which it is attached so that it may
qualify as an Individual Retirement Annuity (IRA) under Section 408(b) of the
Internal Revenue Code (Code) and the Regulations under that Section. In the case
of a conflict with any provision in the Contract, the provisions of this
Endorsement will control. The effective date of this Endorsement is the Issue
Date shown on the Contract Schedule. The Contract is modified as follows:
1. The Contract Owner and the Annuitant shall be the same individual;
neither may be changed and there shall be no Joint Contract Owner.
Hereafter all references to the Contract Owner shall include the
Annuitant.
2. The interest of the Contract Owner under this Contract shall be
nonforfeitable.
3. The Contract may not be sold, assigned, discounted, pledged as
collateral for a loan or as security for the performance of any
obligation or for any other purpose, or otherwise transferred (other
than a transfer incident to a divorce or separation instrument in
accordance with section 408(d)(6) of the Code) to any person other
than to the Company.
4. This Contract is established for the exclusive benefit of the Contract
Owner and his or her Beneficiary(ies).
5. Except in the case of a rollover contribution (as permitted by Code
Sections 402(c), 403(a)(4), 403(b)(8), or 408(d)(3)), or a
contribution made in accordance with the terms of a Simplified
Employee Pension (SEP) as described in Code Section 408(k),
contributions shall not exceed $2,000 for any taxable year. All
contributions must be in cash.
6. Distributions under the Annuity Options in the Contract must commence
to be distributed no later than the first day of April following the
calendar year in which the Contract Owner attains age 70 1/2 (required
beginning date), over
(a) the life of the Contract Owner, or the lives of the Contract
Owner and his or her designated Beneficiary, or
(b) a period certain not extending beyond the life expectancy of the
Contract Owner, or the joint and last survivor expectancy of the
Contract Owner and his or her Beneficiary. Payments must be made
in periodic payments at intervals of no longer than one year.
In addition, payments must be either nonincreasing or they may
increase only as provided in Proposed or final Federal Income Tax
Regulations.
All distributions made hereunder shall be made in accordance with the
requirements of Code Section 401(a)(9), including the incidental death
benefit requirements of Code Section 401(a)(9)(G), and the regulations
thereunder.
Life expectancy is computed by use of the expected return multiples in
Tables V and VI of Section 1.72-9 of the Income Tax Regulations. Life
expectancy for distributions under an Annuity Option may not be
recalculated.
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7. If required distributions are to be made in a form other than one of
the Annuity Options contained in the Contract, then the entire value
of the Contract will commence to be distributed no later than the
first day of April following the calendar year in which the Annuitant
attains age 70 1/2 (required beginning date), over
(a) the life of the Contract Owner, or the lives of the Contract Owner
and his or her Beneficiary, or
(b) a period not extending beyond the life expectancy of the Contract
Owner, or the joint and last survivor expectancy of the Contract Owner
and his or her Beneficiary.
The amount to be distributed each year, beginning with the first
calendar year for which distributions are required and then for each
succeeding calendar year, shall not be less than the quotient obtained
by dividing the Contract Owner's benefit by the lesser of (1) the
applicable life expectancy or (2) if the Contract Owner's spouse is
not the Beneficiary, the applicable divisor determined from the table
set forth in Q&A-4 or Q&A-5, as applicable, of Section 1.401(a)(9)-2
of the Proposed Income Tax Regulations.
Life expectancy is computed by use of the expected return multiples in
Tables V and VI of Section 1.72-9 of the Income Tax Regulations.
Unless otherwise elected by the Contract Owner by the time
distributions are required to begin, life expectancies shall be
recalculated annually. Such election shall be irrevocable by the
Contract Owner and shall apply to all subsequent years. The life
expectancy of a non-spouse Beneficiary may not be recalculated.
8. Upon the death of the Contract Owner:
(a) if the Contract Owner dies after distribution of benefits has
commenced, the remaining portion of such interest will continue
to be distributed at least as rapidly as under the method of
distribution being used prior to the Contract Owner's death;
(b) if the Contract Owner dies before distribution of benefits
commences, the entire amount payable to the Beneficiary will be
distributed no later than December 31 of the calendar year which
contains the fifth anniversary of the date of the Contract
Owner's death except to the extent that an election is made to
receive distributions in accordance with (i) or (ii) below:
(i) a rollover to or from such Contract, or fails to elect any
of the above if any portion of the policy proceeds is
payable to a Beneficiary, distributions may be made in
installments over the life or over a period not extending
beyond the life expectancy of the Beneficiary commencing no
later than December 31 of the calendar year immediately
following the calendar year in which the Contract Owner
died;
(ii) if the Beneficiary is the Contract Owner's surviving spouse,
and benefits are to be distributed in accordance with (1)
above, distributions must begin on or before the later of
(a) December 31 of the calendar year immediately following
the calendar year in which the Contract Owner died or (b)
December 31 of the calendar year in which the Contract Owner
would have attained age 70 1/2.
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(iii) if the Beneficiary is the Contract Owner's surviving
spouse, the spouse may treat the Contract as his or her own
IRA. This election will be deemed to have been made if such
surviving spouse makes a regular IRA contribution to the
Contract, makes a rollover to or from such contract, or
fails to elect any of the above provisions.
Life expectancy is computed by use of the expected return multiples in
Tables V and VI of Section 1.72-9 of the Income Tax Regulations. For
purposes of distributions beginning after the Contract Owner's death,
unless otherwise elected by the surviving spouse by the time
distributions are required to begin, life expectancies shall be
recalculated annually. Such election shall be irrevocable by the
surviving spouse and shall apply to all subsequent years. In the case
of any other Beneficiary, life expectancies shall be calculated using
the attained age of such Beneficiary during the calendar year in which
distributions are required to begin pursuant to this section, and
payments for any subsequent calendar year shall be calculated based on
such life expectancy reduced by one for each calendar year which has
elapsed since the calendar year life expectancy was first calculated.
Life expectancy for distributions under an Annuity Option in the
Contract may not be recalculated.
Distributions under this section are considered to have begun if
distributions are made on account of the Contract Owner reaching his
or her required beginning date or if prior to the required beginning
date distributions irrevocably commence over a period permitted and in
an annuity form acceptable under Section 1.401(a)(9) of the Income Tax
Regulations.
9. The Company may at its option either accept additional future payments
or terminate the Contract by a lump sum payment of the then present
value of the paid up benefit if no Purchase Payments have been
received for two full consecutive Contract Years and the paid up
annuity benefit at maturity would be less than $20 per month.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
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C.M. LIFE INSURANCE COMPANY
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▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
UNISEX ANNUITY RATES CONTRACT ENDORSEMENT
-----------------------------------------
This Endorsement modifies the Contract to which it is attached for use in
connection with a retirement plan which receives favorable income tax treatment
under Sections 401, 403, 408 or 457 of the Internal Revenue Code, or where
required by state law. In the case of a conflict with any provision in the
Contract, the provisions of this Endorsement will control. The Company may
further amend the Contract from time to time to meet any requirements applicable
to such plans or laws. The effective date of this Endorsement is the Issue Date
shown on the Contract Schedule. The provisions of the Contract are modified as
follows:
1. Deleting any reference to sex; and
2. The Contract is further modified by substituting the attached Annuity
Rate Tables 1, 2, 3, 5, 6 and 7 for the corresponding Annuity Rate
Tables in the Annuity Rates section of the Contract.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MUVA94UR Page 1 of 5
80
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FIXED ANNUITY RATES
TABLE 1 - OPTIONS A & B
MONTHLY PAYMENTS PER $1,000
--------------------------------------------------------
Unisex
--------------------------------------------------------
Life 5 Yrs 10 Yrs 20 Yrs
Age Only C&L C&L C&L Age
---------- -------- -------- --------- --------- -------
50 3.76 3.76 3.75 3.70 50
51 3.82 3.81 3.80 3.75 51
52 3.88 3.87 3.86 3.80 52
53 3.94 3.93 3.92 3.85 53
54 4.00 4.00 3.98 3.90 54
55 4.07 4.06 4.04 3.96 55
56 4.14 4.13 4.11 4.01 56
57 4.21 4.21 4.16 4.07 57
58 4.29 4.29 4.26 4.13 58
59 4.38 4.37 4.34 4.20 59
60 4.47 4.46 4.42 4.26 60
61 4.56 4.55 4.51 4.32 61
62 4.66 4.65 4.61 4.39 62
63 4.77 4.76 4.70 4.46 63
64 4.89 4.87 4.81 4.53 64
65 5.01 4.99 4.92 4.60 65
66 5.14 5.12 5.03 4.67 66
67 5.28 5.25 5.16 4.73 67
68 5.43 5.39 5.28 4.80 68
69 5.59 5.55 5.42 4.87 69
70 5.76 5.71 5.56 4.93 70
71 5.94 5.88 5.70 5.00 71
72 6.14 6.07 5.86 5.06 72
73 6.34 6.27 6.02 5.11 73
74 6.57 6.47 6.16 5.17 74
75 6.81 6.70 6.35 5.21 75
76 7.07 6.93 6.53 5.26 76
77 7.34 7.16 6.70 5.30 77
78 7.64 7.44 6.89 5.33 78
79 7.95 7.72 7.07 5.36 79
80 8.29 8.01 7.26 5.39 80
81 8.66 8.33 7.45 5.42 81
82 9.06 8.65 7.63 5.44 82
83 9.48 8.99 7.81 5.45 83
84 9.94 9.35 7.99 5.47 84
85 10.42 9.73 8.15 5.48 85
---------- -------- -------- --------- --------- -------
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FIXED ANNUITY RATES
TABLE 2 - OPTION C
MONTHLY PAYMENT PER $1,000
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UNISEX(1)UNISEX(2) JOINT AND SURVIVOR ANNUITY
------------------------------------------------------------------------------------------------------------------
UNISEX (2)
------------------------------------------------------------------------------------------------------------------
UNISEX(1) 40 45 50 55 60 65 70 75 80 85 UNISEX (1)
AGE AGE
------------------ ------- ------- ------ ------- ------- ------- ------ ------- ------- ------- -----------------
40 3.11 3.16 3.21 3.25 3.27 3.30 3.31 3.32 3.33 3.33 40
45 3.16 3.24 3.31 3.37 3.42 3.45 3.48 3.50 3.51 3.51 45
50 3.21 3.31 3.41 3.50 3.57 3.63 3.68 3.71 3.73 3.74 50
55 3.25 3.37 3.50 3.62 3.74 3.84 3.91 3.97 4.01 4.03 55
60 3.27 3.42 3.57 3.74 3.90 4.06 4.16 4.28 4.36 4.40 60
65 3.30 3.45 3.63 3.84 4.06 4.28 4.48 4.66 4.79 4.88 65
70 3.31 3.48 3.68 3.91 4.16 4.48 4.79 5.07 5.30 5.48 70
75 3.32 3.50 3.71 3.97 4.28 4.66 5.07 5.49 5.89 6.21 75
80 3.33 3.51 3.73 4.01 4.36 4.79 5.30 5.89 6.49 7.04 80
85 3.33 3.51 3.74 4.03 4.40 4.88 5.48 6.21 7.04 7.90 85
------------------ ------- ------- ------ ------- ------- ------- ------ ------- ------- ------- -----------------
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FIXED ANNUITY RATES
TABLE 3 - OPTION D
MONTHLY PAYMENT PER $1,000
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UNISEX(1)UNISEX(2) JOINT AND 2/3 ANNUITY
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UNISEX (2)
------------------------------------------------------------------------------------------------------------------
UNISEX(1) 40 45 50 55 60 65 70 75 80 85 UNISEX (1)
AGE AGE
------------------ ------- ------- ------ ------- ------- ------- ------ ------- ------- ------- -----------------
40 3.16 3.22 3.25 3.28 3.30 3.31 3.32 3.33 3.33 3.33 40
45 3.27 3.33 3.38 3.42 3.45 3.48 3.49 3.50 3.51 3.52 45
50 3.37 3.45 3.52 3.58 3.63 3.68 3.71 3.73 3.74 3.75 50
55 3.48 3.57 3.67 3.76 3.84 3.91 3.96 4.00 4.03 4.04 55
60 3.59 3.71 3.83 3.95 4.07 4.16 4.28 4.34 4.39 4.42 60
65 3.72 3.85 4.00 4.16 4.33 4.50 4.65 4.77 4.86 4.92 65
70 3.86 4.01 4.16 4.38 4.60 4.84 5.07 5.28 5.45 5.57 70
75 4.00 4.17 4.37 4.61 4.89 5.20 5.54 5.87 6.17 6.40 75
80 4.16 4.34 4.57 4.84 5.17 5.57 6.03 6.52 7.00 7.41 80
85 4.31 4.51 4.76 5.07 5.45 5.93 6.51 7.16 7.89 8.59 85
------------------ ------- ------- ------ ------- ------- ------- ------ ------- ------- ------- -----------------
MUVA94UR Page 3 of 5
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VARIABLE ANNUITY RATES
TABLE 5 - OPTIONS A & B
MONTHLY PAYMENT PER $1,000
--------------------------------------------------------
Unisex
--------------------------------------------------------
Life 5 Yrs 10 Yrs 20 Yrs
Age Only C&L C&L C&L Age
---------- -------- -------- --------- ---------- ------
50 4.36 4.36 4.35 4.29 50
51 4.41 4.41 4.40 4.33 51
52 4.47 4.47 4.45 4.38 52
53 4.53 4.52 4.51 4.43 53
54 4.59 4.59 4.56 4.48 54
55 4.66 4.65 4.63 4.53 55
56 4.73 4.72 4.69 4.58 56
57 4.80 4.79 4.76 4.64 57
58 4.88 4.87 4.84 4.70 58
59 4.96 4.95 4.91 4.75 59
60 5.05 5.04 4.99 4.82 60
61 5.14 5.13 5.08 4.88 61
62 5.24 5.23 5.17 4.94 62
63 5.35 5.33 5.27 5.00 63
64 5.46 5.44 5.37 5.07 64
65 5.59 5.56 5.48 5.13 65
66 5.72 5.69 5.59 5.20 66
67 5.85 5.82 5.71 5.27 67
68 6.00 5.96 5.84 5.33 68
69 6.16 6.12 5.97 5.39 69
70 6.33 6.28 6.11 5.45 70
71 6.52 6.45 6.25 5.51 71
72 6.71 6.63 6.40 5.57 72
73 6.92 6.83 6.55 5.62 73
74 7.15 7.04 6.72 5.67 74
75 7.39 7.26 6.88 5.72 75
76 7.65 7.49 7.05 5.76 76
77 7.92 7.74 7.23 5.80 77
78 8.22 8.00 7.41 5.83 78
79 8.54 8.28 7.59 5.86 79
80 8.88 8.57 7.77 5.89 80
81 9.25 8.88 7.95 5.91 81
82 9.65 9.21 8.13 5.93 82
83 10.08 9.55 8.31 5.95 83
84 10.54 9.90 8.48 5.96 84
85 11.03 10.28 8.64 5.97 85
---------- -------- -------- --------- ---------- ------
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VARIABLE ANNUITY RATES
TABLE 6 - OPTION C
MONTHLY PAYMENT PER $1,000
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UNISEX(1)UNISEX(2) JOINT AND SURVIVOR ANNUITY
------------------------------------------------------------------------------------------------------------------
UNISEX (2)
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UNISEX(1) 40 45 50 55 60 65 70 75 80 85 UNISEX (1)
AGE AGE
------------------ ------- ------- ------ ------- ------- ------- ------ ------- ------- ------- -----------------
40 3.73 3.78 3.83 3.86 3.89 3.91 3.93 3.94 3.95 3.95 40
45 3.78 3.85 3.92 3.97 4.02 4.05 4.08 4.10 4.11 4.12 45
50 3.83 3.92 4.01 4.09 4.16 4.22 4.27 4.30 4.32 4.34 50
55 3.86 3.97 4.09 4.21 4.32 4.41 4.49 4.55 4.59 4.62 55
60 3.89 4.02 4.16 4.32 4.47 4.62 4.75 4.85 4.92 4.97 60
65 3.91 4.05 4.22 4.41 4.62 4.83 5.03 5.21 5.34 5.44 65
70 3.93 4.08 4.27 4.49 4.75 5.03 5.33 5.61 5.85 6.03 70
75 3.94 4.10 4.30 4.55 4.85 5.21 5.61 6.03 6.42 6.75 75
80 3.95 4.11 4.32 4.59 4.92 5.34 5.85 6.42 7.02 7.58 80
85 3.95 4.12 4.34 4.62 4.97 5.44 6.03 6.75 7.58 8.43 85
------------------ ------- ------- ------ ------- ------- ------- ------ ------- ------- ------- -----------------
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VARIABLE ANNUITY RATES
TABLE 7 - OPTION D
MONTHLY PAYMENT PER $1,000
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UNISEX(1)UNISEX(2) JOINT AND 2/3 ANNUITY
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UNISEX (2)
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UNISEX(1) 40 45 50 55 60 65 70 75 80 85 UNISEX (1)
AGE AGE
------------------ ------- ------- ------ ------- ------- ------- ------ ------- ------- ------- -----------------
40 3.81 3.84 3.87 3.89 3.91 3.93 3.94 3.95 3.95 3.95 40
45 3.89 3.94 3.99 4.03 4.06 4.08 4.10 4.11 4.12 4.13 45
50 3.99 4.05 4.12 4.16 4.23 4.27 4.30 4.32 4.34 4.35 50
55 4.10 4.16 4.26 4.35 4.42 4.49 4.54 4.58 4.61 4.63 55
60 4.21 4.31 4.42 4.54 4.65 4.75 4.84 4.91 4.96 5.00 60
65 4.35 4.46 4.60 4.74 4.90 5.06 5.21 5.33 5.42 5.49 65
70 4.50 4.63 4.79 4.97 5.16 5.40 5.63 5.83 6.00 6.13 70
75 4.67 4.81 5.00 5.22 5.48 5.78 6.10 6.42 6.72 6.95 75
80 4.84 5.01 5.22 5.47 5.78 6.16 6.60 7.08 7.55 7.97 80
85 5.03 5.21 5.44 5.73 6.09 6.54 7.10 7.75 8.46 9.15 85
------------------ ------- ------- ------ ------- ------- ------- ------ ------- ------- ------- -----------------
MUVA94UR Page 5 of 5
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C.M. LIFE INSURANCE COMPANY
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▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
QUALIFIED PLAN CONTRACT ENDORSEMENT
-----------------------------------
This Endorsement modifies the Contract to which it is attached for use in
connection with a retirement plan which receives favorable income tax treatment
under Section 401(a) or 403(a) of the Internal Revenue Code (Code). In the case
of a conflict with any provision in the Contract, the provisions of this
Endorsement will control. The Company may further amend the Contract from time
to time to meet any requirements applicable to such plans. The effective date of
this Endorsement is the Issue Date shown on the Contract Schedule. The Contract
is modified as follows:
1. If the Contract Owner is other than a retirement plan fiduciary, the
interest of the Contract Owner may not be sold, assigned, discounted
or pledged as collateral for a loan or as security for the performance
of an obligation or for any other purpose, to any person other than
the Company.
2. The Annuitant may not be made the Contract Owner of this Contract
other than in connection with the conversion of this Contract to an
individual retirement annuity under Code Section 408 or at the time of
commencement of Annuity Payments.
3. While the Contract Owner is a retirement plan fiduciary, the
Beneficiary shall be such Contract Owner.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MUVA94QP
85
C.M. LIFE INSURANCE COMPANY
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▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
SECTION 457 PLAN ENDORSEMENT
----------------------------
This Endorsement modifies the Contract to which it is attached for use in
connection with a Plan qualified under Section 457 of the Internal Revenue Code
(Code) and the Regulations under that Section. The effective date of this
Endorsement is the Issue Date shown on the Contract Schedule. In the case of a
conflict with any provision in the Contract, the provisions of this Endorsement
will control. The Contract is modified as follows:
1. The Annuitant of this Contract will be the applicable Participant
under the Plan and the Contract Owner of this Contract will be as
designated under the Plan.
2. All funds payable under this Contract will be paid to the Contract
Owner.
3. No rights or funds payable under this Contract are in trust for the
benefit of the Annuitant. All interests and rights in the Contract are
subject to the claims of the general creditors of the Contract Owner.
4. All distributions under the Contract shall be made in accordance with
the requirements of Code Section 401(a)(9), including the incidental
death benefit requirements of Code Section 401(a)(9)(G) and the
Regulations thereunder.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MUVA94GDC
86
C.M. LIFE INSURANCE COMPANY
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▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
ACCUMULATION DEATH BENEFIT ENDORSEMENT
--------------------------------------
This Endorsement modifies the Contract to which it is attached. The effective
date of this Endorsement is the Issue Date shown on the Contract Schedule of the
Contract or a later date if acceptable to the Company. In case of a conflict
with any provision in the Contract, the provisions of this Endorsement will
control. The following hereby amends and supersedes the section of the Contract
captioned "Proceeds Payable On Death - Death Benefit Amount During The
Accumulation Period":
PROCEEDS PAYABLE ON DEATH
DEATH BENEFIT AMOUNT DURING THE ACCUMULATION PERIOD
If the Death Benefit is payable due to the death of the Contract Owner during
the Accumulation Period, the amount of the Death Benefit will be the greater of:
1. The Contract Value determined as of the end of the Valuation Period
during which the Company receives at its Annuity Service Center both
due proof of death and an election of the payment method, less any
withdrawals and any applicable charges; or
2. The accumulation at interest of all Purchase Payments made less any
withdrawals and any applicable charges, but not more than twice the
sum of Purchase Payments less subsequent withdrawals and any
applicable charges. The effective annual rate of interest used in this
accumulation will be 5% for any period prior to the Contract Owner
attaining Age 75 and 0% thereafter.
If Joint Contract Owners are named, the Age of the oldest will be used to
determine the Death Benefit. If the Contract is owned by a non-natural person,
then Contract Owner shall mean Annuitant.
Death Benefit Charge: Quarterly the Company deducts a Death Benefit Charge from
each Sub-Account of the Separate Account and the General Account in an amount,
on an annual basis, no greater than the amount shown on the Contract Schedule.
The Death Benefit Charge will be deducted from the Sub-Accounts, the Fixed
Account and the Fixed Account for Dollar Cost Averaging in the same proportion
that the amount of the Contract Value in each Sub-Account or the Fixed Account
or the Fixed Account for Dollar Cost Averaging bears to the total Contract
Value.
Signed for C.M. Life Insurance Company by:
SECRETARY PRESIDENT
MU99DBacc
87