Prudential Annuities Life Assurance Corp Variable Account B
Filed: 4 Oct 06, 12:00am
Supplement to Prospectuses Dated May 1, 2006
Supplement dated November 20, 2006
Supplement dated November 20, 2006 to the May 1, 2006 Prospectuses for the following annuity products: American Skandia Advisor
PlanSM III, American Skandia APEX(R)II, and American Skandia LifeVest(R)II, as previously supplemented (the "Prospectuses").
This Supplement should be read and retained with the current Prospectus for your annuity contract issued by American Skandia Life
Assurance Corporation ("American Skandia"). This Supplement is intended to update certain information in the Prospectus for the
variable annuity you own, and is not intended to be a prospectus or offer for any other variable annuity listed here that you do
not own. If you would like another copy of the current Prospectus, please contact American Skandia at 1-800-752-6342.
We are issuing this supplement to describe in the Prospectus for the above-referenced annuity products a new living benefit
program, and certain changes to the underlying mutual funds. These changes will be effective on or about November 20, 2006,
unless specifically stated otherwise.
1. NEW INSURANCE FEATURE
We are adding the Highest Daily Lifetime FiveSM Income Benefit ("Highest Daily Lifetime Five"), that guarantees until the
death of a single designated life the ability to withdraw an annual amount equal to a percentage of an initial principal value
regardless of the impact of market performance on the Account Value. As a result, the following revisions are made to the
Prospectus:
A. We revise the Glossary of Terms section as follows:
o We add a definition for "Benefit Fixed Rate Account", that reads as follows: "An investment option offered as part of
this Annuity that is used only if you have elected the optional Highest Daily Lifetime Five Benefit. Amounts allocated
to the Benefit Fixed Rate Account earn a fixed rate of interest, and are held within our general account. You may not
allocate purchase payments to the Benefit Fixed Rate Account. Rather, Account Value is transferred to the Benefit Fixed
Rate Account only under the asset transfer feature of the Highest Daily Lifetime Five Benefit."
o We add a definition for "Highest Daily Lifetime Five Benefit" that reads as follows: "An optional feature available for
an additional charge that guarantees your ability to withdraw amounts equal to a percentage of a principal value called
the Protected Withdrawal Value. Subject to our rules regarding the timing and amount of withdrawals, we guarantee these
withdrawal amounts, regardless of the impact of market performance on your Account Value."
B. The following information has been added to "YOUR OPTIONAL BENEFIT FEES AND CHARGES" table in the "Summary of Contract
Fees and Charges" section of the Prospectus:
-------------------------------------------------------------- -------------- -------------- -------------- --------------
OPTIONAL TOTAL ANNUAL TOTAL ANNUAL TOTAL ANNUAL
BENEFIT FEE/ CHARGE CHARGE CHARGE
CHARGE for for for
ASAPIII* APEX II* ASL II*
-------------------------------------------------------------- -------------- -------------- -------------- --------------
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HIGHEST DAILY LIFETIME FIVE INCOME BENEFIT**
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0.60% of 1.85% in 2.25% 2.25%
average Annuity
daily net Years 1-8;
assets of 1.25% in
the Annuity
Sub-accounts Years 9 and
later
-------------------------------------------------------------- -------------- -------------- -------------- --------------
MAXIMUM CHARGE FOR EACH
OF LIFETIME FIVE, SPOUSAL LIFETIME
FIVE, AND HIGHEST DAILY LIFETIME FIVE 3.00%
* The Total Annual Charge includes the Insurance Charge and Distribution Charge (if applicable) assessed against the average
daily net assets allocated to the Sub-accounts. If you elect more than one optional benefit, the Total Annual Charge would be
increased to include the charge for each optional benefit. In certain state filings, we have stated that we reserve the right
to increase the charge for Lifetime Five, Spousal Lifetime Five, and Highest Daily Lifetime Five to a maximum of 3 percent.
However, we have no present intention of increasing the charges for those benefits to that maximum level.
** This optional benefit is not available under the Qualified BCO, and is currently not available in New York.
C. The Highest Daily Lifetime Five program is not available if you elect any other optional living benefit, therefore all
references in the Prospectus that reflect the availability of the optional living benefits are revised accordingly.
D. The following description of the new optional living benefit is added as the last section under "Living Benefit Programs"
in the Prospectus:
HIGHEST DAILY LIFETIME FIVE INCOME BENEFIT
(HIGHEST DAILY LIFETIME FIVE)
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The Highest Daily Lifetime Five program described below is only being offered in those jurisdictions where we have received
regulatory approval and will be offered subsequently in other jurisdictions when we receive regulatory approval in those
jurisdictions. Certain terms and conditions may differ between jurisdictions once approved. Highest Daily Lifetime Five is
offered as an alternative to Lifetime Five and Spousal Lifetime Five. Currently, if you elect Highest Daily Lifetime Five and
subsequently terminate the benefit, you will not be able to re-elect Highest Daily Lifetime Five, and will have a waiting period
until you can elect Spousal Lifetime Five or Lifetime Five. Specifically, you will be permitted to elect Lifetime Five or Spousal
Lifetime Five only on an anniversary of the Issue Date that is at least 90 calendar days from the date that Highest Daily Lifetime
Five was terminated. We reserve the right to further limit the election frequency in the future. The income benefit under
Highest Daily Lifetime Five currently is based on a single "designated life" who is at least 55 years old on the date that the
benefit is acquired. The Highest Daily Lifetime Five Benefit is not available if you elect any other optional living benefit,
although you may elect any optional death benefit (other than the Highest Daily Value Death Benefit). As long as your Highest
Daily Lifetime Five Benefit is in effect, you must allocate your Account Value in accordance with the then-permitted and available
investment option(s) with this program.
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We offer a benefit that guarantees until the death of the single designated life the ability to withdraw an annual amount (the
"Highest Daily Life Income Benefit") equal to a percentage of an initial principal value (the "Protected Withdrawal Value")
regardless of the impact of market performance on the Account Value, subject to our program rules regarding the timing and amount
of withdrawals. The benefit may be appropriate if you intend to make periodic withdrawals from your Annuity, and wish to ensure
that market performance will not affect your ability to receive annual payments. You are not required to make withdrawals as part
of the program -- the guarantees are not lost if you withdraw less than the maximum allowable amount each year under the rules of
the benefit. We discuss Highest Daily Lifetime Five in greater detail immediately below. In addition, please see the Glossary
section of this prospectus for definitions of some of the key terms used with this benefit. As discussed below, we require that
you participate in our asset transfer program in order to participate in Highest Daily Lifetime Five, and in the Appendices to
this prospectus, we set forth the formula under which we make those asset transfers.
As discussed below, a key component of Highest Daily Lifetime Five is the Protected Withdrawal Value, which is an amount that is
distinct from Account Value. Protected Withdrawal Value is used to determine the Highest Daily Annual Income Amount - - which is
an amount that you can take out annually as a withdrawal for your entire life. Because each of the Protected Withdrawal Value and
Highest Daily Annual Income Amount is determined in a way that is not solely related to Account Value, it is possible for the
Account Value to fall to zero, even though the Highest Daily Annual Income Amount remains. You are guaranteed to be able to
withdraw the Highest Daily Annual Income Amount for the rest of your life, provided that you have not made "excess withdrawals."
Excess withdrawals, as discussed below, will reduce your Highest Daily Annual Income Amount. Thus, you could experience a
scenario in which your Account Value was zero, and, due to your excess withdrawals, your Highest Daily Annual Income Amount also
was reduced to zero. In that scenario, no further amount would be payable under Highest Daily Lifetime Five.
KEY FEATURE-- Protected Withdrawal Value
The Protected Withdrawal Value is used to determine the amount of the annual payments under the Highest Daily Life Income Benefit.
The Protected Withdrawal Value initially is equal to the Account Value on the date that you elect Highest Daily Lifetime Five. On
each business day thereafter, until the earlier of the first withdrawal or ten years after the date of your election of the
benefit, we recalculate the Protected Withdrawal Value. Specifically, on each such business day (the "Current Valuation Day"),
the Protected Withdrawal Value is equal to the greater of:
o the Protected Withdrawal Value for the immediately preceding business day (the "Prior Valuation Day"), appreciated at
the daily equivalent of 5% annually during the calendar day(s) between the Prior Valuation Day and the Current
Valuation Day (i.e., one day for successive business days, but more than one calendar day for business days that
are separated by weekends and/or holidays), plus the amount of any Purchase Payment made on the Current Valuation
Day; and
o the Account Value.
We cease these daily calculations of the Protected Withdrawal Value when you make your first withdrawal. However, as discussed
below, subsequent Purchase Payments will increase the amount we guarantee to pay annually under the Highest Daily Life Income
Benefit (the "Highest Daily Annual Income Amount"), while "excess" withdrawals (as described below) may decrease the Highest Daily
Annual Income Amount.
KEY FEATURE-- Highest Daily Annual Income Amount under the Highest Daily Lifetime Five Benefit
The initial Highest Daily Annual Income Amount is equal to 5% of the Protected Withdrawal Value. Under the Highest Daily Lifetime
Five benefit, if your cumulative withdrawals in an Annuity Year are less than or equal to the Highest Daily Annual Income Amount,
they will not reduce your Highest Daily Annual Income Amount in subsequent Annuity Years, but any such withdrawals will reduce the
Highest Daily Annual Income Amount on a dollar-for-dollar basis in that Annuity Year. If your cumulative withdrawals are in
excess of the Highest Daily Annual Income Amount ("Excess Income"), your Highest Daily Annual Income Amount in subsequent years
will be reduced (except with regard to required minimum distributions) by the result of the ratio of the Excess Income to the
Account Value immediately prior to such withdrawal (see examples of this calculation below). Reductions include the actual amount
of the withdrawal, including any CDSC that may apply. A Purchase Payment that you make will increase the then-existing Highest
Daily Annual Income Amount by an amount equal to 5% of the Purchase Payment.
An automatic step-up feature ("Highest Quarterly Auto Step-Up") is included as part of this benefit. As detailed in this
paragraph, the Highest Quarterly Auto Step-Up feature can result in a larger Highest Daily Annual Income Amount if your Account
Value increases subsequent to your first withdrawal. We begin examining the Account Value for purposes of this feature starting
with the anniversary of the Issue Date of the Annuity (the "Annuity Anniversary") immediately after your first withdrawal under
the benefit. Specifically, upon the first such Annuity Anniversary after your first withdrawal, we identify the Account Value on
the business days corresponding to the end of each quarter that (i) is based on your Annuity Year, rather than a calendar year;
(ii) is subsequent to the first withdrawal; and (iii) falls within the immediately preceding Annuity Year. If the end of any
such quarter falls on a holiday or a weekend, we use the next business day. We multiply each of those quarterly Account Values by
5%, adjust each such quarterly value for subsequent withdrawals and purchase payments, and then select the highest of those
values. If the highest of those values exceeds the existing Highest Daily Annual Income Amount, we replace the existing amount
with the new, higher amount. Otherwise, we leave the existing Highest Daily Annual Income Amount intact. In later years, (i.e.,
after the first Annuity Anniversary after the first withdrawal) we determine whether an automatic step-up should occur on each
Annuity Anniversary, by performing a similar examination of the Account Values on the end of the four immediately preceding
quarters. If, on the date that we implement a Highest Quarterly Auto Step-Up to your Highest Daily Annual Income Amount, the
charge for Highest Daily Lifetime Five has changed for new purchasers, you may be subject to the new charge at the time of such
step-up. Prior to increasing your charge for Highest Daily Lifetime Five upon a step-up, we would notify you, and give you the
opportunity to cancel the automatic step-up feature.
The Highest Daily Lifetime Five program does not affect your ability to make withdrawals under your annuity, or limit your ability
to request withdrawals that exceed the Highest Daily Annual Income Amount. Under Highest Daily Lifetime Five, if your cumulative
withdrawals in an Annuity Year are less than or equal to the Highest Daily Annual Income Amount, they will not reduce your Highest
Daily Annual Income Amount in subsequent Annuity Years, but any such withdrawals will reduce the Highest Daily Annual Income
Amount on a dollar-for-dollar basis in that Annuity Year.
If, cumulatively, you withdraw an amount less than the Highest Daily Annual Income Amount in any Annuity Year, you cannot
carry-over the unused portion of the Highest Daily Annual Income Amount to subsequent Annuity Years.
Examples of dollar-for-dollar and proportional reductions, and the Highest Quarterly Step-Up are set forth below. The values
depicted here are purely hypothetical, and do not reflect the charges for the Highest Daily Lifetime Five benefit or any other
fees and charges. Assume the following for all three examples:
|X| The Issue Date is December 1, 2006
|X| On May 2, 2007, the client elects Highest Daily Lifetime Five and takes the first withdrawal under the benefit on the
same day.
Dollar-for-dollar reductions
On May 2, 2007, the Protected Withdrawal Value is $120,000, resulting in a Highest Daily Annual Income Amount of $6,000 (5% of
$120,000). Assuming $2,500 is withdrawn from the Annuity on this date, the remaining Highest Daily Annual Income Amount for that
Annuity Year (up to and including December 1, 2007) is $3,500. This is the result of a dollar-for-dollar reduction of the Highest
Daily Annual Income Amount -- $6,000 less $2,500 = $3,500.
Proportional reductions
Continuing the previous example, assume an additional withdrawal of $5,000 occurs on August 6, 2007 and the Account Value at the
time of this withdrawal is $110,000. The first $3,500 of this withdrawal reduces the Highest Daily Annual Income Amount for that
Annuity Year to $0. The remaining withdrawal amount -- $1,500 - reduces the Highest Daily Annual Income Amount in future Annuity
Years on a proportional basis based on the ratio of the excess withdrawal to the Account Value immediately prior to the excess
withdrawal. (Note that if there were other withdrawals in that Annuity Year, each would result in another proportional reduction
to the Highest Daily Annual Income Amount).
Here is the calculation:
Account Value before withdrawal $110,000.00
Less amount of "non" excess withdrawal -$3,500.00
Account Value immediately before excess withdrawal of $1,500 $106,500.00
Excess withdrawal amount $1,500.00
Divided by Account Value immediately before excess withdrawal $106,500.00
Ratio 1.41%
Annual Income Amount $6,000.00
Less ratio of 1.41% -$84.51
Annual Income Amount for future Annuity Years $5,915.49
Highest Quarterly Step-Up
On each Annuity Anniversary date, the Highest Daily Annual Income Amount is stepped-up if 5% of the highest quarterly value since
your first withdrawal (or last Annuity Anniversary in subsequent years), adjusted for excess withdrawals and additional Purchase
Payments, is higher than the Highest Daily Annual Income Amount, also adjusted for excess withdrawals and additional Purchase
Payments.
Continuing the same example as above, the Highest Daily Annual Income Amount for this Annuity Year is $6,000. However, the excess
withdrawal on August 6 reduces this amount to $5,915.49 for future years (see above). For the next Annuity Year, the Highest
Daily Annual Income Amount will be stepped-up if 5% of the highest quarterly Account Value, adjusted for withdrawals, is higher
than $5,915.49. Here are the calculations for determining the quarterly values. Only the June 1 value is being adjusted for
excess withdrawals as the September 1 and December 1 Valuation Days occur after the excess withdrawal on August 6.
Highest Quarterly
Value (adjusted with Adjusted Highest Daily
withdrawal and Annual Income Amount (5% of
Date* Account value Purchase Payments)** the Highest Quarterly Value)
June 1, 2007 $118,000.00 $118,000.00 $5,900.00
August 6, 2007 $120,000.00 $112,885.55 $5,644.28
September 1, 2007 $112,000.00 $112,885.55 $5,644.28
December 1, 2007 $119,000.00 $119,000.00 $5,950.00
*In this example, the Annuity Anniversary date is December 1. The quarterly valuation dates are every three months thereafter -
March 1, June 1, September 1, and December 1. In this example, we do not use the March 1 date as the first withdrawal took place
after March 1. The Annuity Anniversary Date of December 1 is considered the fourth and final quarterly valuation date for the
year.
**In this example, the first quarterly value after the first withdrawal is $118,000 on June 1, yielding an adjusted Highest Daily
Annual Income Amount of $5,900.00. This amount is adjusted on August 6 to reflect the $5,000 withdrawal. The calculations for
the adjustments are:
|X| The Account Value of $118,000 on June 1 is first reduced dollar-for-dollar by $3,500 ($3,500 is the remaining Highest
Daily Annual Income Amount for the Annuity Year), resulting in an adjusted Account Value of $114,500 before the excess
withdrawal.
|X| This amount ($114,500) is further reduced by 1.41% (this is the ratio in the above example which is the excess
withdrawal divided by the Account Value immediately preceding the excess withdrawal) resulting in a Highest Quarterly
Value of $112,885.55.
The adjusted Highest Daily Annual Income Amount is carried forward to the next quarterly anniversary date of September 1. At this
time, we compare this amount to 5% of the Account Value on September 1. Since the June 1 adjusted Highest Daily Annual Income
Amount of $5,644.28 is higher than $5,600.00 (5% of $112,000), we continue to carry $5,644.28 forward to the next and final
quarterly anniversary date of December 1. The Account Value on December 1 is $119,000 and 5% of this amount is $5,950. Since
this is higher than $5,644.28, the adjusted Highest Daily Annual Income Amount is reset to $5,950.00
In this example, 5% of the December 1 value yields the highest amount of $ 5,950.00. Since this amount is higher than the current
year's Highest Daily Annual Income Amount of $5,915.49 adjusted for excess withdrawals, the Highest Daily Annual Income Amount for
the next Annuity Year, starting on December 2, 2007 and continuing through December 1, 2008, will be stepped-up to $5,950.00.
BENEFITS UNDER THE HIGHEST DAILY LIFETIME FIVE PROGRAM
o To the extent that your Account Value was reduced to zero as a result of cumulative withdrawals that are equal to or less
than the Highest Daily Annual Income Amount and amounts are still payable under the Highest Daily Life Income Benefit, we
will make an additional payment, if any, for that Annuity Year equal to the remaining Highest Daily Annual Income Amount
for the Annuity Year. Thus, in that scenario, the remaining Highest Daily Annual Income Amount would be payable even
though your Account Value was reduced to zero. In subsequent Annuity Years we make payments that equal the Highest Daily
Annual Income Amount as described in this section. We will make payments until the death of the single designated life.
To the extent that cumulative withdrawals in the current Annuity Year that reduced your Account Value to zero are more
than the Highest Daily Annual Income Amount, the Highest Daily Lifetime Five benefit terminates, and no additional
payments will be made.
o If Annuity payments are to begin under the terms of your Annuity, or if you decide to begin receiving Annuity payments
and there is a Highest Daily Annual Income Amount due in subsequent Annuity Years, you can elect one of the following two
options:
(1) apply your Account Value to any Annuity option available; or
(2) request that, as of the date Annuity payments are to begin, we make Annuity payments each year equal to the Highest
Daily Annual Income Amount. We will make payments until the death of the single designated life.
We must receive your request in a form acceptable to us at our office.
In the absence of an election when mandatory annuity payments are to begin, we will make annual annuity payments in the form of a
single life fixed annuity with ten payments certain, by applying the greater of the annuity rates then currently available or the
annuity rates guaranteed in your Annuity. The amount that will be applied to provide such Annuity payments will be the greater of:
(1) the present value of the future Highest Daily Annual Income Amount payments. Such present value will be calculated
using the greater of the single life fixed annuity rates then currently available or the single life fixed annuity rates
guaranteed in your Annuity; and
(2) the Account Value.
o If no withdrawal was ever taken, we will determine the Protected Withdrawal Value and calculate the Highest Daily Annual
Income Amount as if you made your first withdrawal on the date the annuity payments are to begin.
Other Important Considerations
o Withdrawals under the Highest Daily Lifetime Five benefit are subject to all of the terms and conditions of the Annuity,
including any CDSC.
o Withdrawals made while the Highest Daily Lifetime Five program is in effect will be treated, for tax purposes, in the
same way as any other withdrawals under the Annuity. The Highest Daily Lifetime Five program does not directly affect the
Account Value or surrender value, but any withdrawal will decrease the Account Value by the amount of the withdrawal
(plus any applicable CDSC). If you surrender your Annuity you will receive the current surrender value.
o You can make withdrawals from your Annuity while your Account Value is greater than zero without purchasing the Highest
Daily Lifetime Five benefit. The Highest Daily Lifetime Five benefit provides a guarantee that if your Account Value
declines due to market performance, you will be able to receive your Highest Daily Annual Income Amount in the form of
periodic benefit payments. You must allocate your Account Value in accordance with the then available investment
option(s) that we may permit in order to elect and maintain the Highest Daily Lifetime Five benefit.
Election of and Designations under the Program
For Highest Daily Lifetime Five, there must be either a single Owner who is the same as the Annuitant, or if the Annuity is
entity-owned, there must be a single natural person Annuitant. In either case, the Annuitant must be at least 55 years old.
Any change of the Annuitant under the Annuity will result in cancellation of Highest Daily Lifetime Five. Similarly, any change
of Owner will result in cancellation of Highest Daily Lifetime Five, except if (a) the new Owner has the same taxpayer
identification number as the previous owner (b) both the new Owner and previous Owner are entities or (c) the previous Owner is a
natural person and the new Owner is an entity.
Highest Daily Lifetime Five can be elected at the time that you purchase your Annuity. We also offer existing owners (i.e., those
who have already acquired their Annuity) the option to elect Highest Daily Lifetime Five after the Issue Date, subject to our
eligibility rules and restrictions.
Currently, if you terminate the Highest Daily Lifetime Five benefit, you will (a) not be permitted to re-elect the benefit and (b)
will be allowed to elect the Spousal Lifetime Five Benefit or the Lifetime Five Income Benefit on any anniversary of the Issue
Date that is at least 90 calendar days from the date the Highest Daily Lifetime Five Benefit was terminated. We reserve the right
to further limit the election frequency in the future. Before making any such change to the election frequency, we will provide
prior notice to Owners who have an effective Highest Daily Lifetime Five benefit.
Termination of the Program
You may terminate the benefit at any time by notifying us. If you terminate the benefit, any guarantee provided by the benefit
will terminate as of the date the termination is effective, and certain restrictions on re-election will apply as described above.
We reserve the right to further limit the frequency election in the future. The benefit terminates: (i) upon your termination of
the benefit (ii) upon your surrender of the Annuity (iii) upon your election to begin receiving annuity payments (iv) upon the
death of the designated life (v) if both the Account Value and Highest Daily Annual Income Amount equal zero or (vi) if you fail
to meet our requirements for issuing the benefit.
Upon termination of Highest Daily Lifetime Five, we cease deducting the charge for the benefit. With regard to your investment
allocations, upon termination we will: (i) leave intact amounts that are held in the variable investment options, and (ii)
transfer all amounts held in the Benefit Fixed Rate Account (as defined below) to your variable investment options, based on your
existing allocation instructions or (in the absence of such existing instructions) pro rata (i.e. in the same proportion as the
current balances in your variable investment options).
Asset Transfer Component of Highest Daily Lifetime Five
As indicated above, we limit the sub-accounts to which you may allocate Account Value if you elect Highest Daily Value Lifetime
Five. For purposes of this benefit, we refer to those permitted sub-accounts as the "Permitted Sub-accounts". A list of the
Permitted Sub-accounts appears in the application form that you must submit to us in order to elect this benefit. As a requirement
of participating in Highest Daily Lifetime Five, we require that you participate in our specialized asset transfer program, under
which we may transfer Account Value between the Permitted Sub-accounts and a fixed interest rate account that is part of our
general account (the "Benefit Fixed Rate Account"). We determine whether to make a transfer, and the amount of any transfer,
under a non-discretionary formula, discussed below. The Benefit Fixed Rate Account is available only with this benefit, and thus
you may not allocate purchase payments to that Account.
Under the asset transfer component of Highest Daily Lifetime Five, we monitor your Account Value daily and, if necessary,
systematically transfer amounts between the Permitted Sub-accounts you have chosen and the Benefit Fixed Rate Account. Any
transfer would be made in accordance with a formula, which is set forth in the schedule supplement to the endorsement for this
benefit (and also appears in the Appendices to this prospectus). Speaking generally, the formula, which we apply each business
day, operates as follows. The formula starts by identifying your Protected Withdrawal Value for that day and then multiplies
that figure by 5%, to produce a projected (i.e., hypothetical) Highest Daily Annual Income Amount. Then, using our actuarial
tables, we produce an estimate of the total amount of our obligation, based on the projected Highest Daily Annual Income Amount
each year for the rest of your life. In the formula, we refer to that value as the "Target Value" or "L". If you have already
made a withdrawal, your projected Highest Daily Annual Income Amount (and thus your Target Value) would take into account any
automatic step-up implemented according to the step-up formula described above. Next, the formula subtracts from the Target
Value the amount held within the Benefit Fixed Rate Account on that day, and divides that difference by the amount held within
the Permitted Sub-accounts. That ratio, which essentially isolates the amount of your Target Value that is not offset by amounts
held within the Benefit Fixed Rate Account, is called the "Target Ratio". If the Target Ratio exceeds a certain percentage, it
means essentially that too much Target Value is not offset by assets within the Benefit Fixed Rate Account, and therefore we will
transfer an amount from your Permitted Sub-accounts to the Benefit Fixed Rate Account. Conversely, if the Target Ratio falls
below a certain percentage, then a transfer from the Benefit Fixed Rate Account to the Permitted Sub-accounts would occur.
As you can glean from the formula, a downturn in the securities markets (i.e., a reduction in the amount held within the
Permitted Sub-accounts) may cause us to transfer some of your variable Account Value to the Benefit Fixed Rate Account, because
such a reduction will tend to increase the Liability Ratio. Moreover, certain market return scenarios involving "flat" returns
over a period of time also could result in the transfer of money to the Benefit Fixed Rate Account. In deciding how much to
transfer, we use another formula, which essentially seeks to re-balance amounts held in the Permitted Sub-accounts and the
Benefit Fixed Rate Account so that the Liability Ratio meets a target ratio, which currently is equal to 80%. Once you elect
Highest Daily Lifetime Five, the ratios we use will be fixed. For contracts issued in the future that elect Highest Daily
Lifetime Five, however, we reserve the right to change the ratios.
While you are not notified when your Annuity reaches a reallocation trigger, you will receive a confirmation statement indicating
the transfer of a portion of your Account Value either to or from the Benefit Fixed Rate Account. The formula by which the
reallocation triggers operate is designed primarily to mitigate the financial risks that we incur in providing the guarantee under
Highest Daily Lifetime Five.
Depending on the results of the calculation relative to the reallocation triggers, we may, on any day:
o Not make any transfer; or
o If a portion of your Account Value was previously allocated to the Benefit Fixed Rate Account, transfer all or a portion
of those amounts to the Permitted Sub-accounts, based on your existing allocation instructions or (in the absence of such
existing instructions) pro rata (i.e., in the same proportion as the current balances in your variable investment
options). Amounts taken out of the Benefit Fixed Rate Account will be withdrawn for this purpose on a last-in, first-out
basis (an amount renewed into a new guarantee period under the Benefit Fixed Rate Account will be deemed a new investment
for purposes of this last-in, first-out rule); or
o Transfer all or a portion of your Account Value in the Permitted Sub-accounts pro-rata to the Benefit Fixed Rate Account.
The interest that you earn on such transferred amount will be equal to the annual rate that we have set for that day, and
we will credit the daily equivalent of that annual interest until the earlier of one year from the date of the transfer
or the date that such amount in the Benefit Fixed Rate Account is transferred back to the Permitted Sub-accounts.
If a significant amount of your Account Value is systematically transferred to the Benefit Fixed Rate Account during periods of
market declines or low interest rates, less of your Account Value may be available to participate in the investment experience of
the Permitted Sub-accounts if there is a subsequent market recovery. Under the reallocation formula that we employ, it is possible
that a significant portion of your Account Value may be allocated to the Benefit Fixed Rate Account.
Additional Tax Considerations for Qualified Contracts
If you purchase an annuity as an investment vehicle for "qualified" investments, including an IRA, SEP-IRA, Tax Sheltered Annuity
(or 403(b)) or employer plan under Code Section 401(a), the minimum distribution rules under the Code require that you begin
receiving periodic amounts from your annuity beginning after age 70 1/2. For a Tax Sheltered Annuity or a 401(a) plan for which
the participant is not a greater than 5 percent owner of the employer, this required beginning date can generally be deferred to
retirement, if later. Roth IRAs are not subject to these rules during the owner's lifetime. The amount required under the Code may
exceed the Highest Daily Annual Income Amount, which will cause us to increase the Highest Daily Annual Income Amount in any
Annuity Year that required minimum distributions due from your Annuity that are greater than such amounts. In addition, the
amount and duration of payments under the annuity payment and death benefit provisions may be adjusted so that the payments do not
trigger any penalty or excise taxes due to tax considerations such as minimum distribution requirements.
3. CHANGE WITH RESPECT TO CERTAIN PORTFOLIOS OF AMERICAN SKANDIA TRUST
In the "Investment Options" section of the prospectus, we make the following changes to the chart setting forth a brief
description of each variable investment option, to reflect the following subadviser name change with respect to one of the
variable investment options:
o AST Small Cap Value Portfolio. Salomon Brothers Asset Management will change its name to ClearBridge Advisers LLC,
effective in December 2006.
In the "Investment Options" section of each prospectus, we revise the investment objectives/policies section, and portfolio
advisor/sub-advisor section for two Portfolios to read as follows. These new descriptions reflect the addition of sub-advisors as
well as revisions to non-fundamental investment policies:
AST LSV International Value Portfolio.
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
PORTFOLIO
STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/
TYPE SUB-ADVISOR
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
International AST International Value Portfolio (formerly AST LSV International Value Portfolio): seeks LSV Asset Management,
capital growth. The Portfolio normally invests at least 80% of the Portfolio's investable Thornburg Investment
assets (net assets plus borrowings made for investment purposes) in the equity securities of Management, Inc.
Equity companies in developed countries outside the United States that are represented in the MSCI
EAFE Index.
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
AST William Blair International Growth Portfolio.
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
PORTFOLIO
STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/
TYPE SUB-ADVISOR
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
International AST International Growth Portfolio (formerly,AST William Blair International Growth Marsico Capital
Portfolio): seeks long-term capital appreciation. The Portfolio invests primarily in Management LLC,
equity-related securities of foreign issuers. The Portfolio invests primarily in the common William Blair &
stock of large and medium-sized foreign companies, although it may also invest in companies of Company, LLC
all sizes. Under normal circumstances, the Portfolio invests at least 65% of its total assets
Equity in common stock of foreign companies operating or based in at least five different countries,
which may include countries with emerging markets. The Portfolio looks primarily for stocks of
companies whose earnings are growing at a faster rate than other companies or which offer
attractive growth potential.
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
4. WE ADD THE FOLLOWING AS APPENDIX G:
Appendix G
Asset Transfer Formula Under Highest Daily Lifetime Five Benefit
We set out below the current formula under which we may transfer amounts between the variable investment options and the Benefit
Fixed Rate Account. As discussed in the "Living Benefits" section, we reserve the right to modify this formula with respect to
those who elect Highest Daily Lifetime Five in the future. However, upon your election of Highest Daily Lifetime Five, we will
not alter the asset transfer formula that applies to your Annuity.
Terms and Definitions referenced in the calculation formula:
o Cu - the upper target is established on the effective date of the Highest Daily Lifetime Five benefit (the "Effective
Date") and is not changed for the life of the guarantee. Currently, it is 83%.
o Ct - the target is established on the Effective Date and is not changed for the life of the guarantee. Currently, it is
80%.
o Cl - the lower target is established on the Effective Date and is not changed for the life of the guarantee. Currently,
it is 77%.
o L - the target value as of the current Valuation Day.
o r - the target ratio.
o a - the factors used in calculating the target value. These factors are established on the Effective Date and are not
changed for the life of the guarantee. The factors that we use currently are derived from the a2000 Individual Annuity
Mortality Table with an assumed interest rate of 3%. Each number in the table "a" factors (which appears below) represents
a factor, which when multiplied by the Highest Daily Annual Income Amount, projects our total liability for the purpose of
asset transfers under the guarantee.
o Q - age based factors used in calculating the target value. These factors are established on the Effective Date and are
not changed for the life of the guarantee. The factor is currently set equal to 1.
o V - the total value of all Permitted Sub-accounts in the Annuity.
o F - the total value of all Benefit Fixed Rate Account allocations.
o I - the Income Value prior to the first withdrawal. The Income Value is equal to what the Highest Daily Annual Income
Amount would be if the first withdrawal were taken on the date of calculation. After the first withdrawal the Income Value
equals the greater of the Highest Daily Annual Income Amount, the quarterly step-up amount times the Annual Income
Percentage, and the Account Value times the Annual Income Percentage.
o T - the amount of a transfer into or out of the Benefit Fixed Rate Account.
o I% - Annual Income Amount percentage. This factor is established on the Effective Date and is not changed for the life
of the guarantee. Currently, it is 5%
Target Value Calculation:
On each Valuation Day, a target value (L) is calculated, according to the following formula. If the variable Account Value (V) is
equal to zero, no calculation is necessary.
L = I * Q * a
Transfer Calculation:
The following formula, which is set on the Effective Date and is not changed for the life of the guarantee, determines when a
transfer is required:
Target Ratio r = (L - F) / V.
o If r > Cu, assets in the Permitted Sub-accounts are transferred to Benefit Fixed Rate Account.
o If r <Cl, and there are currently assets in the Benefit Fixed Rate Account (F > 0), assets in the Benefit Fixed Rate
Account are transferred to the Permitted Sub-accounts.
The following formula, which is set on the Effective Date and is not changed for the life of the guarantee, determines the
transfer amount:
T ={Min(V, [L - F - V * Ct] / (1-Ct))} T>0, Money moving from the Permitted Sub-accounts to the Benefit
Fixed Rate Account
T ={Min(F, [L - F - V * Ct] / (1-Ct))} T<0, Money moving from the Benefit Fixed Rate Account to the
Permitted Sub-accounts]
Example:
Male age 65 contributes $100,000 into the Permitted Sub accounts and the value drops to $92,300 during year one, end of day one.
A table of values for "a" appears below.
Target Value Calculation:
L = I * Q * a
= 5000.67 * 1 * 15.34
= 76,710.28
Target Ratio:
r = (L - F) / V
= (76,710.28 - 0) / 92,300.00
= 83.11%
Since r > Cu ( because 83.11% > 83%) a transfer into the Benefit Fixed rate Account occurs.
T = { Min ( V, [ L - F - V * Ct] / ( 1 - Ct))}
= { Min ( 92,300.00, [ 76,710.28 - 0 - 92,300.00 * 0.80] / ( 1 - 0.80))}
= { Min ( 92,300.00, 14,351.40 )}
= 14,351.40
Age 65 "a" Factors for Liability Calculations
(in Years and Months since Benefit Effective Date)*
Months
Years 1 2 3 4 5 6 7 8 9 10 11 12
1 15.34 15.31 15.27 15.23 15.20 15.16 15.13 15.09 15.05 15.02 14.98 14.95
2 14.91 14.87 14.84 14.80 14.76 14.73 14.69 14.66 14.62 14.58 14.55 14.51
3 14.47 14.44 14.40 14.36 14.33 14.29 14.26 14.22 14.18 14.15 14.11 14.07
4 14.04 14.00 13.96 13.93 13.89 13.85 13.82 13.78 13.74 13.71 13.67 13.63
5 13.60 13.56 13.52 13.48 13.45 13.41 13.37 13.34 13.30 13.26 13.23 13.19
6 13.15 13.12 13.08 13.04 13.00 12.97 12.93 12.89 12.86 12.82 12.78 12.75
7 12.71 12.67 12.63 12.60 12.56 12.52 12.49 12.45 12.41 12.38 12.34 12.30
8 12.26 12.23 12.19 12.15 12.12 12.08 12.04 12.01 11.97 11.93 11.90 11.86
9 11.82 11.78 11.75 11.71 11.67 11.64 11.60 11.56 11.53 11.49 11.45 11.42
10 11.38 11.34 11.31 11.27 11.23 11.20 11.16 11.12 11.09 11.05 11.01 10.98
11 10.94 10.90 10.87 10.83 10.79 10.76 10.72 10.69 10.65 10.61 10.58 10.54
12 10.50 10.47 10.43 10.40 10.36 10.32 10.29 10.25 10.21 10.18 10.14 10.11
13 10.07 10.04 10.00 9.96 9.93 9.89 9.86 9.82 9.79 9.75 9.71 9.68
14 9.64 9.61 9.57 9.54 9.50 9.47 9.43 9.40 9.36 9.33 9.29 9.26
15 9.22 9.19 9.15 9.12 9.08 9.05 9.02 8.98 8.95 8.91 8.88 8.84
16 8.81 8.77 8.74 8.71 8.67 8.64 8.60 8.57 8.54 8.50 8.47 8.44
17 8.40 8.37 8.34 8.30 8.27 8.24 8.20 8.17 8.14 8.10 8.07 8.04
18 8.00 7.97 7.94 7.91 7.88 7.84 7.81 7.78 7.75 7.71 7.68 7.65
19 7.62 7.59 7.55 7.52 7.49 7.46 7.43 7.40 7.37 7.33 7.30 7.27
20 7.24 7.21 7.18 7.15 7.12 7.09 7.06 7.03 7.00 6.97 6.94 6.91
21 6.88 6.85 6.82 6.79 6.76 6.73 6.70 6.67 6.64 6.61 6.58 6.55
22 6.52 6.50 6.47 6.44 6.41 6.38 6.36 6.33 6.30 6.27 6.24 6.22
23 6.19 6.16 6.13 6.11 6.08 6.05 6.03 6.00 5.97 5.94 5.92 5.89
24 5.86 5.84 5.81 5.79 5.76 5.74 5.71 5.69 5.66 5.63 5.61 5.58
25 5.56 5.53 5.51 5.48 5.46 5.44 5.41 5.39 5.36 5.34 5.32 5.29
26 5.27 5.24 5.22 5.20 5.18 5.15 5.13 5.11 5.08 5.06 5.04 5.01
27 4.99 4.97 4.95 4.93 4.91 4.88 4.86 4.84 4.82 4.80 4.78 4.75
28 4.73 4.71 4.69 4.67 4.65 4.63 4.61 4.59 4.57 4.55 4.53 4.51
29 4.49 4.47 4.45 4.43 4.41 4.39 4.37 4.35 4.33 4.32 4.30 4.28
30 4.26 4.24 4.22 4.20 4.18 4.17 4.15 4.13 4.11 4.09 4.07 4.06
31 4.04 4.02 4.00 3.98 3.97 3.95 3.93 3.91 3.90 3.88 3.86 3.84
32 3.83 3.81 3.79 3.78 3.76 3.74 3.72 3.71 3.69 3.67 3.66 3.64
33 3.62 3.61 3.59 3.57 3.55 3.54 3.52 3.50 3.49 3.47 3.45 3.44
34 3.42 3.40 3.39 3.37 3.35 3.34 3.32 3.30 3.29 3.27 3.25 3.24
35 3.22 3.20 3.18 3.17 3.15 3.13 3.12 3.10 3.08 3.07 3.05 3.03
36 3.02 3.00 2.98 2.96 2.95 2.93 2.91 2.90 2.88 2.86 2.85 2.83
37 2.81 2.79 2.78 2.76 2.74 2.73 2.71 2.69 2.68 2.66 2.64 2.62
38 2.61 2.59 2.57 2.56 2.54 2.52 2.51 2.49 2.47 2.45 2.44 2.42
39 2.40 2.39 2.37 2.35 2.34 2.32 2.30 2.29 2.27 2.25 2.24 2.22
40 2.20 2.19 2.17 2.15 2.14 2.12 2.11 2.09 2.07 2.06 2.04 2.02
41 2.01 1.84 1.67 1.51 1.34 1.17 1.00 0.84 0.67 0.50 0.33 0.17
* The values set forth in this table are applied to all ages.
Supplement to Prospectuses Dated May 1, 2006
Supplement dated November 20, 2006
Supplement dated November 20, 2006 to the May 1, 2006 Prospectus for the following annuity product: American Skandia XTra
CreditSM SIX, as previously supplemented (the "Prospectus").
This Supplement should be read and retained with the current Prospectus for your annuity contract issued by American Skandia Life
Assurance Corporation ("American Skandia"). If you would like another copy of the current Prospectus, please contact American
Skandia at 1-800-752-6342.
We are issuing this supplement to describe in the Prospectus for the above-referenced annuity product a new living benefit
program, a change to the CDSC schedule with respect to American Skandia XTra Credit SIX and certain changes to the underlying
mutual funds. These changes will be effective on or about November 20, 2006, unless specifically stated otherwise.
1. NEW INSURANCE FEATURE
We are adding the Highest Daily Lifetime FiveSM Income Benefit ("Highest Daily Lifetime Five"), that guarantees until the
death of a single designated life the ability to withdraw an annual amount equal to a percentage of an initial principal value
regardless of the impact of market performance on the Account Value. As a result, the following revisions are made to the
Prospectus:
A. We revise the Glossary of Terms section as follows:
o We add a definition for "Benefit Fixed Rate Account", that reads as follows: "An investment option offered as part of
this Annuity that is used only if you have elected the optional Highest Daily Lifetime Five Benefit. Amounts allocated
to the Benefit Fixed Rate Account earn a fixed rate of interest, and are held within our general account. You may not
allocate purchase payments to the Benefit Fixed Rate Account. Rather, Account Value is transferred to the Benefit Fixed
Rate Account only under the asset transfer feature of the Highest Daily Lifetime Five Benefit."
o We add a definition for "Highest Daily Lifetime Five Benefit" that reads as follows: "An optional feature available for
an additional charge that guarantees your ability to withdraw amounts equal to a percentage of a principal value called
the Protected Withdrawal Value. Subject to our rules regarding the timing and amount of withdrawals, we guarantee these
withdrawal amounts, regardless of the impact of market performance on your Account Value."
B. The following information has been added to "YOUR OPTIONAL BENEFIT FEES AND CHARGES" table in the "Summary of Contract
Fees and Charges" section of the Prospectus:
------------------------------------------------- --------------------------------
TOTAL ANNUAL CHARGE
for
XT6*
------------------------------------------------- --------------------------------
------------------------------------------------- --------------------------------
HIGHEST DAILY LIFETIME FIVE**
------------------------------------------------- --------------------------------
------------------------------------------------- --------------------------------
2.25% in Annuity Years 1-10;
1.25% in Annuity Years 11 and
later
------------------------------------------------- --------------------------------
MAXIMUM CHARGE FOR EACH
OF LIFETIME FIVE, SPOUSAL LIFETIME
FIVE, AND HIGHEST DAILY LIFETIME FIVE 3.00%
* The Total Annual Charge includes the Insurance Charge and Distribution Charge (if applicable) assessed against the average
daily net assets allocated to the Sub-accounts. If you elect more than one optional benefit, the Total Annual Charge would be
increased to include the charge for each optional benefit. In certain state filings, we have stated that we reserve the right
to increase the charge for Lifetime Five, Spousal Lifetime Five, and Highest Daily Lifetime Five to a maximum of 3 percent.
However, we have no present intention of increasing the charges for those benefits to that maximum level.
** This optional benefit is not available under the Qualified BCO, and is currently not available in New York.
C. The Highest Daily Lifetime Five program is not available if you elect any other optional living benefit, therefore all
references in the Prospectus that reflect the availability of the optional living benefits are revised accordingly.
D. The following description of the new optional living benefit is added as the last section under "Living Benefit Programs"
in the Prospectus:
HIGHEST DAILY LIFETIME FIVE INCOME BENEFIT
(HIGHEST DAILY LIFETIME FIVE)
- ------------------------------------------------------------------------------------------------------------------------------------
The Highest Daily Lifetime Five program described below is only being offered in those jurisdictions where we have received
regulatory approval and will be offered subsequently in other jurisdictions when we receive regulatory approval in those
jurisdictions. Certain terms and conditions may differ between jurisdictions once approved. Highest Daily Lifetime Five is
offered as an alternative to Lifetime Five and Spousal Lifetime Five. Currently, if you elect Highest Daily Lifetime Five and
subsequently terminate the benefit, you will not be able to re-elect Highest Daily Lifetime Five, and will have a waiting period
until you can elect Spousal Lifetime Five or Lifetime Five. Specifically, you will be permitted to elect Lifetime Five or Spousal
Lifetime Five only on an anniversary of the Issue Date that is at least 90 calendar days from the date that Highest Daily Lifetime
Five was terminated. We reserve the right to further limit the election frequency in the future. The income benefit under
Highest Daily Lifetime Five currently is based on a single "designated life" who is at least 55 years old on the date that the
benefit is acquired. The Highest Daily Lifetime Five Benefit is not available if you elect any other optional living benefit,
although you may elect any optional death benefit (other than the Highest Daily Value Death Benefit). As long as your Highest
Daily Lifetime Five Benefit is in effect, you must allocate your Account Value in accordance with the then-permitted and available
investment option(s) with this program.
- ------------------------------------------------------------------------------------------------------------------------------------
We offer a benefit that guarantees until the death of the single designated life the ability to withdraw an annual amount (the
"Highest Daily Life Income Benefit") equal to a percentage of an initial principal value (the "Protected Withdrawal Value")
regardless of the impact of market performance on the Account Value, subject to our program rules regarding the timing and amount
of withdrawals. The benefit may be appropriate if you intend to make periodic withdrawals from your Annuity, and wish to ensure
that market performance will not affect your ability to receive annual payments. You are not required to make withdrawals as part
of the program -- the guarantees are not lost if you withdraw less than the maximum allowable amount each year under the rules of
the benefit. We discuss Highest Daily Lifetime Five in greater detail immediately below. In addition, please see the Glossary
section of this prospectus for definitions of some of the key terms used with this benefit. As discussed below, we require that
you participate in our asset transfer program in order to participate in Highest Daily Lifetime Five, and in the Appendices to
this prospectus, we set forth the formula under which we make those asset transfers.
As discussed below, a key component of Highest Daily Lifetime Five is the Protected Withdrawal Value, which is an amount that is
distinct from Account Value. Protected Withdrawal Value is used to determine the Highest Daily Annual Income Amount - - which is
an amount that you can take out annually as a withdrawal for your entire life. Because each of the Protected Withdrawal Value and
Highest Daily Annual Income Amount is determined in a way that is not solely related to Account Value, it is possible for the
Account Value to fall to zero, even though the Highest Daily Annual Income Amount remains. You are guaranteed to be able to
withdraw the Highest Daily Annual Income Amount for the rest of your life, provided that you have not made "excess withdrawals."
Excess withdrawals, as discussed below, will reduce your Highest Daily Annual Income Amount. Thus, you could experience a
scenario in which your Account Value was zero, and, due to your excess withdrawals, your Highest Daily Annual Income Amount also
was reduced to zero. In that scenario, no further amount would be payable under Highest Daily Lifetime Five.
KEY FEATURE-- Protected Withdrawal Value
The Protected Withdrawal Value is used to determine the amount of the annual payments under the Highest Daily Life Income Benefit.
The Protected Withdrawal Value initially is equal to the Account Value on the date that you elect Highest Daily Lifetime Five. On
each business day thereafter, until the earlier of the first withdrawal or ten years after the date of your election of the
benefit, we recalculate the Protected Withdrawal Value. Specifically, on each such business day (the "Current Valuation Day"),
the Protected Withdrawal Value is equal to the greater of:
o the Protected Withdrawal Value for the immediately preceding business day (the "Prior Valuation Day"), appreciated at
the daily equivalent of 5% annually during the calendar day(s) between the Prior Valuation Day and the Current
Valuation Day (i.e., one day for successive business days, but more than one calendar day for business days that
are separated by weekends and/or holidays), plus the amount of any Purchase Payment (including any associated
credit with respect to XT6) made on the Current Valuation Day; and
o the Account Value.
We cease these daily calculations of the Protected Withdrawal Value when you make your first withdrawal. However, as discussed
below, subsequent Purchase Payments (and any associated credits for XT6 only) will increase the amount we guarantee to pay
annually under the Highest Daily Life Income Benefit (the "Highest Daily Annual Income Amount"), while "excess" withdrawals (as
described below) may decrease the Highest Daily Annual Income Amount.
KEY FEATURE-- Highest Daily Annual Income Amount under the Highest Daily Lifetime Five Benefit
The initial Highest Daily Annual Income Amount is equal to 5% of the Protected Withdrawal Value. Under the Highest Daily Lifetime
Five benefit, if your cumulative withdrawals in an Annuity Year are less than or equal to the Highest Daily Annual Income Amount,
they will not reduce your Highest Daily Annual Income Amount in subsequent Annuity Years, but any such withdrawals will reduce the
Highest Daily Annual Income Amount on a dollar-for-dollar basis in that Annuity Year. If your cumulative withdrawals are in
excess of the Highest Daily Annual Income Amount ("Excess Income"), your Highest Daily Annual Income Amount in subsequent years
will be reduced (except with regard to required minimum distributions) by the result of the ratio of the Excess Income to the
Account Value immediately prior to such withdrawal (see examples of this calculation below). Reductions include the actual amount
of the withdrawal, including any CDSC that may apply. A Purchase Payment that you make will increase the then-existing Highest
Daily Annual Income Amount by an amount equal to 5% of the Purchase Payment (including, with respect to XT6, the amount of any
associated Credits).
An automatic step-up feature ("Highest Quarterly Auto Step-Up") is included as part of this benefit. As detailed in this
paragraph, the Highest Quarterly Auto Step-Up feature can result in a larger Highest Daily Annual Income Amount if your Account
Value increases subsequent to your first withdrawal. We begin examining the Account Value for purposes of this feature starting
with the anniversary of the Issue Date of the Annuity (the "Annuity Anniversary") immediately after your first withdrawal under
the benefit. Specifically, upon the first such Annuity Anniversary after your first withdrawal, we identify the Account Value on
the business days corresponding to the end of each quarter that (i) is based on your Annuity Year, rather than a calendar year;
(ii) is subsequent to the first withdrawal; and (iii) falls within the immediately preceding Annuity Year. If the end of any
such quarter falls on a holiday or a weekend, we use the next business day. We multiply each of those quarterly Account Values by
5%, adjust each such quarterly value for subsequent withdrawals and purchase payments, and then select the highest of those
values. If the highest of those values exceeds the existing Highest Daily Annual Income Amount, we replace the existing amount
with the new, higher amount. Otherwise, we leave the existing Highest Daily Annual Income Amount intact. In later years, (i.e.,
after the first Annuity Anniversary after the first withdrawal) we determine whether an automatic step-up should occur on each
Annuity Anniversary, by performing a similar examination of the Account Values on the end of the four immediately preceding
quarters. If, on the date that we implement a Highest Quarterly Auto Step-Up to your Highest Daily Annual Income Amount, the
charge for Highest Daily Lifetime Five has changed for new purchasers, you may be subject to the new charge at the time of such
step-up. Prior to increasing your charge for Highest Daily Lifetime Five upon a step-up, we would notify you, and give you the
opportunity to cancel the automatic step-up feature.
The Highest Daily Lifetime Five program does not affect your ability to make withdrawals under your annuity, or limit your ability
to request withdrawals that exceed the Highest Daily Annual Income Amount. Under Highest Daily Lifetime Five, if your cumulative
withdrawals in an Annuity Year are less than or equal to the Highest Daily Annual Income Amount, they will not reduce your Highest
Daily Annual Income Amount in subsequent Annuity Years, but any such withdrawals will reduce the Highest Daily Annual Income
Amount on a dollar-for-dollar basis in that Annuity Year.
If, cumulatively, you withdraw an amount less than the Highest Daily Annual Income Amount in any Annuity Year, you cannot
carry-over the unused portion of the Highest Daily Annual Income Amount to subsequent Annuity Years.
Examples of dollar-for-dollar and proportional reductions, and the Highest Quarterly Step-Up are set forth below. The values
depicted here are purely hypothetical, and do not reflect the charges for the Highest Daily Lifetime Five benefit or any other
fees and charges. Assume the following for all three examples:
|X| The Issue Date is December 1, 2006
|X| On May 2, 2007, the client elects Highest Daily Lifetime Five and takes the first withdrawal under the benefit on the
same day.
Dollar-for-dollar reductions
On May 2, 2007, the Protected Withdrawal Value is $120,000, resulting in a Highest Daily Annual Income Amount of $6,000 (5% of
$120,000). Assuming $2,500 is withdrawn from the Annuity on this date, the remaining Highest Daily Annual Income Amount for that
Annuity Year (up to and including December 1, 2007) is $3,500. This is the result of a dollar-for-dollar reduction of the Highest
Daily Annual Income Amount -- $6,000 less $2,500 = $3,500.
Proportional reductions
Continuing the previous example, assume an additional withdrawal of $5,000 occurs on August 6, 2007 and the Account Value at the
time of this withdrawal is $110,000. The first $3,500 of this withdrawal reduces the Highest Daily Annual Income Amount for that
Annuity Year to $0. The remaining withdrawal amount -- $1,500 - reduces the Highest Daily Annual Income Amount in future Annuity
Years on a proportional basis based on the ratio of the excess withdrawal to the Account Value immediately prior to the excess
withdrawal. (Note that if there were other withdrawals in that Annuity Year, each would result in another proportional reduction
to the Highest Daily Annual Income Amount).
Here is the calculation:
Account Value before withdrawal $110,000.00
Less amount of "non" excess withdrawal -$3,500.00
Account Value immediately before excess withdrawal of $1,500 $106,500.00
Excess withdrawal amount $1,500.00
Divided by Account Value immediately before excess withdrawal $106,500.00
Ratio 1.41%
Annual Income Amount $6,000.00
Less ratio of 1.41% -$84.51
Annual Income Amount for future Annuity Years $5,915.49
Highest Quarterly Step-Up
On each Annuity Anniversary date, the Highest Daily Annual Income Amount is stepped-up if 5% of the highest quarterly value since
your first withdrawal (or last Annuity Anniversary in subsequent years), adjusted for excess withdrawals and additional Purchase
Payments, is higher than the Highest Daily Annual Income Amount, also adjusted for excess withdrawals and additional Purchase
Payments.
Continuing the same example as above, the Highest Daily Annual Income Amount for this Annuity Year is $6,000. However, the excess
withdrawal on August 6 reduces this amount to $5,915.49 for future years (see above). For the next Annuity Year, the Highest
Daily Annual Income Amount will be stepped-up if 5% of the highest quarterly Account Value, adjusted for withdrawals, is higher
than $5,915.49. Here are the calculations for determining the quarterly values. Only the June 1 value is being adjusted for
excess withdrawals as the September 1 and December 1 Valuation Days occur after the excess withdrawal on August 6.
Highest Quarterly
Value (adjusted with Adjusted Highest Daily
withdrawal and Annual Income Amount (5% of
Date* Account value Purchase Payments)** the Highest Quarterly Value)
June 1, 2007 $118,000.00 $118,000.00 $5,900.00
August 6, 2007 $120,000.00 $112,885.55 $5,644.28
September 1, 2007 $112,000.00 $112,885.55 $5,644.28
December 1, 2007 $119,000.00 $119,000.00 $5,950.00
*In this example, the Annuity Anniversary date is December 1. The quarterly valuation dates are every three months thereafter -
March 1, June 1, September 1, and December 1. In this example, we do not use the March 1 date as the first withdrawal took place
after March 1. The Annuity Anniversary Date of December 1 is considered the fourth and final quarterly valuation date for the
year.
**In this example, the first quarterly value after the first withdrawal is $118,000 on June 1, yielding an adjusted Highest Daily
Annual Income Amount of $5,900.00. This amount is adjusted on August 6 to reflect the $5,000 withdrawal. The calculations for
the adjustments are:
|X| The Account Value of $118,000 on June 1 is first reduced dollar-for-dollar by $3,500 ($3,500 is the remaining Highest
Daily Annual Income Amount for the Annuity Year), resulting in an adjusted Account Value of $114,500 before the excess
withdrawal.
|X| This amount ($114,500) is further reduced by 1.41% (this is the ratio in the above example which is the excess
withdrawal divided by the Account Value immediately preceding the excess withdrawal) resulting in a Highest Quarterly
Value of $112,885.55.
The adjusted Highest Daily Annual Income Amount is carried forward to the next quarterly anniversary date of September 1. At this
time, we compare this amount to 5% of the Account Value on September 1. Since the June 1 adjusted Highest Daily Annual Income
Amount of $5,644.28 is higher than $5,600.00 (5% of $112,000), we continue to carry $5,644.28 forward to the next and final
quarterly anniversary date of December 1. The Account Value on December 1 is $119,000 and 5% of this amount is $5,950. Since
this is higher than $5,644.28, the adjusted Highest Daily Annual Income Amount is reset to $5,950.00
In this example, 5% of the December 1 value yields the highest amount of $ 5,950.00. Since this amount is higher than the current
year's Highest Daily Annual Income Amount of $5,915.49 adjusted for excess withdrawals, the Highest Daily Annual Income Amount for
the next Annuity Year, starting on December 2, 2007 and continuing through December 1, 2008, will be stepped-up to $5,950.00.
BENEFITS UNDER THE HIGHEST DAILY LIFETIME FIVE PROGRAM
o To the extent that your Account Value was reduced to zero as a result of cumulative withdrawals that are equal to or less
than the Highest Daily Annual Income Amount and amounts are still payable under the Highest Daily Life Income Benefit, we
will make an additional payment, if any, for that Annuity Year equal to the remaining Highest Daily Annual Income Amount
for the Annuity Year. Thus, in that scenario, the remaining Highest Daily Annual Income Amount would be payable even
though your Account Value was reduced to zero. In subsequent Annuity Years we make payments that equal the Highest Daily
Annual Income Amount as described in this section. We will make payments until the death of the single designated life.
To the extent that cumulative withdrawals in the current Annuity Year that reduced your Account Value to zero are more
than the Highest Daily Annual Income Amount, the Highest Daily Lifetime Five benefit terminates, and no additional
payments will be made.
o If Annuity payments are to begin under the terms of your Annuity, or if you decide to begin receiving Annuity payments
and there is a Highest Daily Annual Income Amount due in subsequent Annuity Years, you can elect one of the following two
options:
(1) apply your Account Value to any Annuity option available; or
(2) request that, as of the date Annuity payments are to begin, we make Annuity payments each year equal to the Highest
Daily Annual Income Amount. We will make payments until the death of the single designated life.
We must receive your request in a form acceptable to us at our office.
In the absence of an election when mandatory annuity payments are to begin, we will make annual annuity payments in the form of a
single life fixed annuity with ten payments certain, by applying the greater of the annuity rates then currently available or the
annuity rates guaranteed in your Annuity. The amount that will be applied to provide such Annuity payments will be the greater of:
(1) the present value of the future Highest Daily Annual Income Amount payments. Such present value will be calculated
using the greater of the single life fixed annuity rates then currently available or the single life fixed annuity rates
guaranteed in your Annuity; and
(2) the Account Value.
o If no withdrawal was ever taken, we will determine the Protected Withdrawal Value and calculate the Highest Daily Annual
Income Amount as if you made your first withdrawal on the date the annuity payments are to begin.
Other Important Considerations
o Withdrawals under the Highest Daily Lifetime Five benefit are subject to all of the terms and conditions of the Annuity,
including any CDSC.
o Withdrawals made while the Highest Daily Lifetime Five program is in effect will be treated, for tax purposes, in the
same way as any other withdrawals under the Annuity. The Highest Daily Lifetime Five program does not directly affect the
Account Value or surrender value, but any withdrawal will decrease the Account Value by the amount of the withdrawal
(plus any applicable CDSC). If you surrender your Annuity you will receive the current surrender value.
o You can make withdrawals from your Annuity while your Account Value is greater than zero without purchasing the Highest
Daily Lifetime Five benefit. The Highest Daily Lifetime Five benefit provides a guarantee that if your Account Value
declines due to market performance, you will be able to receive your Highest Daily Annual Income Amount in the form of
periodic benefit payments. You must allocate your Account Value in accordance with the then available investment
option(s) that we may permit in order to elect and maintain the Highest Daily Lifetime Five benefit.
Election of and Designations under the Program
For Highest Daily Lifetime Five, there must be either a single Owner who is the same as the Annuitant, or if the Annuity is
entity-owned, there must be a single natural person Annuitant. In either case, the Annuitant must be at least 55 years old.
Any change of the Annuitant under the Annuity will result in cancellation of Highest Daily Lifetime Five. Similarly, any change
of Owner will result in cancellation of Highest Daily Lifetime Five, except if (a) the new Owner has the same taxpayer
identification number as the previous owner (b) both the new Owner and previous Owner are entities or (c) the previous Owner is a
natural person and the new Owner is an entity.
Highest Daily Lifetime Five can be elected at the time that you purchase your Annuity. However, with respect to XT6, you may
elect this benefit at the time you purchase your Annuity only if the CDSC schedule for XT6 Annuities issued on or after November
20, 2006 applies. (See "Summary of Contract Fees and Charges" section of the Prospectus and section 2 of this Supplement). We
also offer existing owners (i.e., those who have already acquired their Annuity) the option to elect Highest Daily Lifetime Five
after the Issue Date, subject to our eligibility rules and restrictions. However, for existing Owners of XT6 whose Annuities are
subject to the CDSC schedule for Annuities issued prior to November 20, 2006, this benefit may only be elected on or after the
first anniversary of the Issue Date.
Currently, if you terminate the Highest Daily Lifetime Five benefit, you will (a) not be permitted to re-elect the benefit and (b)
will be allowed to elect the Spousal Lifetime Five Benefit or the Lifetime Five Income Benefit on any anniversary of the Issue
Date that is at least 90 calendar days from the date the Highest Daily Lifetime Five Benefit was terminated. We reserve the right
to further limit the election frequency in the future. Before making any such change to the election frequency, we will provide
prior notice to Owners who have an effective Highest Daily Lifetime Five benefit.
Termination of the Program
You may terminate the benefit at any time by notifying us. If you terminate the benefit, any guarantee provided by the benefit
will terminate as of the date the termination is effective, and certain restrictions on re-election will apply as described above.
We reserve the right to further limit the frequency election in the future. The benefit terminates: (i) upon your termination of
the benefit (ii) upon your surrender of the Annuity (iii) upon your election to begin receiving annuity payments (iv) upon the
death of the designated life (v) if both the Account Value and Highest Daily Annual Income Amount equal zero or (vi) if you fail
to meet our requirements for issuing the benefit.
Upon termination of Highest Daily Lifetime Five, we cease deducting the charge for the benefit. With regard to your investment
allocations, upon termination we will: (i) leave intact amounts that are held in the variable investment options, and (ii)
transfer all amounts held in the Benefit Fixed Rate Account (as defined below) to your variable investment options, based on your
existing allocation instructions or (in the absence of such existing instructions) pro rata (i.e. in the same proportion as the
current balances in your variable investment options).
Asset Transfer Component of Highest Daily Lifetime Five
As indicated above, we limit the sub-accounts to which you may allocate Account Value if you elect Highest Daily Value Lifetime
Five. For purposes of this benefit, we refer to those permitted sub-accounts as the "Permitted Sub-accounts". A list of the
Permitted Sub-accounts appears in the application form that you must submit to us in order to elect this benefit. As a requirement
of participating in Highest Daily Lifetime Five, we require that you participate in our specialized asset transfer program, under
which we may transfer Account Value between the Permitted Sub-accounts and a fixed interest rate account that is part of our
general account (the "Benefit Fixed Rate Account"). We determine whether to make a transfer, and the amount of any transfer,
under a non-discretionary formula, discussed below. The Benefit Fixed Rate Account is available only with this benefit, and thus
you may not allocate purchase payments to that Account.
Under the asset transfer component of Highest Daily Lifetime Five, we monitor your Account Value daily and, if necessary,
systematically transfer amounts between the Permitted Sub-accounts you have chosen and the Benefit Fixed Rate Account. Any
transfer would be made in accordance with a formula, which is set forth in the schedule supplement to the endorsement for this
benefit (and also appears in the Appendices to this prospectus). Speaking generally, the formula, which we apply each business
day, operates as follows. The formula starts by identifying your Protected Withdrawal Value for that day and then multiplies
that figure by 5%, to produce a projected (i.e., hypothetical) Highest Daily Annual Income Amount. Then, using our actuarial
tables, we produce an estimate of the total amount of our obligation, based on the projected Highest Daily Annual Income Amount
each year for the rest of your life. In the formula, we refer to that value as the "Target Value" or "L". If you have already
made a withdrawal, your projected Highest Daily Annual Income Amount (and thus your Target Value) would take into account any
automatic step-up implemented according to the step-up formula described above. Next, the formula subtracts from the Target
Value the amount held within the Benefit Fixed Rate Account on that day, and divides that difference by the amount held within
the Permitted Sub-accounts. That ratio, which essentially isolates the amount of your Target Value that is not offset by amounts
held within the Benefit Fixed Rate Account, is called the "Target Ratio". If the Target Ratio exceeds a certain percentage, it
means essentially that too much Target Value is not offset by assets within the Benefit Fixed Rate Account, and therefore we will
transfer an amount from your Permitted Sub-accounts to the Benefit Fixed Rate Account. Conversely, if the Target Ratio falls
below a certain percentage, then a transfer from the Benefit Fixed Rate Account to the Permitted Sub-accounts would occur.
As you can glean from the formula, a downturn in the securities markets (i.e., a reduction in the amount held within the
Permitted Sub-accounts) may cause us to transfer some of your variable Account Value to the Benefit Fixed Rate Account, because
such a reduction will tend to increase the Liability Ratio. Moreover, certain market return scenarios involving "flat" returns
over a period of time also could result in the transfer of money to the Benefit Fixed Rate Account. In deciding how much to
transfer, we use another formula, which essentially seeks to re-balance amounts held in the Permitted Sub-accounts and the
Benefit Fixed Rate Account so that the Liability Ratio meets a target ratio, which currently is equal to 80%. Once you elect
Highest Daily Lifetime Five, the ratios we use will be fixed. For contracts issued in the future that elect Highest Daily
Lifetime Five, however, we reserve the right to change the ratios.
While you are not notified when your Annuity reaches a reallocation trigger, you will receive a confirmation statement indicating
the transfer of a portion of your Account Value either to or from the Benefit Fixed Rate Account. The formula by which the
reallocation triggers operate is designed primarily to mitigate the financial risks that we incur in providing the guarantee under
Highest Daily Lifetime Five.
Depending on the results of the calculation relative to the reallocation triggers, we may, on any day:
o Not make any transfer; or
o If a portion of your Account Value was previously allocated to the Benefit Fixed Rate Account, transfer all or a portion
of those amounts to the Permitted Sub-accounts, based on your existing allocation instructions or (in the absence of such
existing instructions) pro rata (i.e., in the same proportion as the current balances in your variable investment
options). Amounts taken out of the Benefit Fixed Rate Account will be withdrawn for this purpose on a last-in, first-out
basis (an amount renewed into a new guarantee period under the Benefit Fixed Rate Account will be deemed a new investment
for purposes of this last-in, first-out rule); or
o Transfer all or a portion of your Account Value in the Permitted Sub-accounts pro-rata to the Benefit Fixed Rate Account.
The interest that you earn on such transferred amount will be equal to the annual rate that we have set for that day, and
we will credit the daily equivalent of that annual interest until the earlier of one year from the date of the transfer
or the date that such amount in the Benefit Fixed Rate Account is transferred back to the Permitted Sub-accounts.
If a significant amount of your Account Value is systematically transferred to the Benefit Fixed Rate Account during periods of
market declines or low interest rates, less of your Account Value may be available to participate in the investment experience of
the Permitted Sub-accounts if there is a subsequent market recovery. Under the reallocation formula that we employ, it is possible
that a significant portion of your Account Value may be allocated to the Benefit Fixed Rate Account.
Additional Tax Considerations for Qualified Contracts
If you purchase an annuity as an investment vehicle for "qualified" investments, including an IRA, SEP-IRA, Tax Sheltered Annuity
(or 403(b)) or employer plan under Code Section 401(a), the minimum distribution rules under the Code require that you begin
receiving periodic amounts from your annuity beginning after age 70 1/2. For a Tax Sheltered Annuity or a 401(a) plan for which
the participant is not a greater than 5 percent owner of the employer, this required beginning date can generally be deferred to
retirement, if later. Roth IRAs are not subject to these rules during the owner's lifetime. The amount required under the Code may
exceed the Highest Daily Annual Income Amount, which will cause us to increase the Highest Daily Annual Income Amount in any
Annuity Year that required minimum distributions due from your Annuity that are greater than such amounts. In addition, the
amount and duration of payments under the annuity payment and death benefit provisions may be adjusted so that the payments do not
trigger any penalty or excise taxes due to tax considerations such as minimum distribution requirements.
2. CHANGE TO THE CDSC SCHEDULE WITH RESPECT TO XT6
A. The list of the "CONTINGENT DEFERRED SALES CHARGES FOR EACH ANNUITY" in the "Summary of Contract Fees and Charges"
section of the Prospectus is replaced with the following with regard to XT6:
For Annuities issued prior to November 20, 2006, the following schedule applies:
-------------------------------------------------------------------------------------------------------------------------------
XT6
-------------------------------------------------------------------------------------------------------------------------------
------------ ----------- ----------- ---------- ---------- ----------- ---------- ---------- ----------- ---------- -----------
Yr.1 Yr.2 Yr.3 Yr. 4 Yr. 5 Yr. 6 Yr. 7 Yr. 8 Yr. 9 Yr. 10 Yr. 11+
------------ ----------- ----------- ---------- ---------- ----------- ---------- ---------- ----------- ---------- -----------
------------ ----------- ----------- ---------- ---------- ----------- ---------- ---------- ----------- ---------- -----------
9.0% 9.0% 8.5% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 0.0%
------------ ----------- ----------- ---------- ---------- ----------- ---------- ---------- ----------- ---------- -----------
For Annuities issued on or after November 20, 2006, (subject to state availability), the following schedule applies*:
-------------------------------------------------------------------------------------------------------------------------------
XT6
-------------------------------------------------------------------------------------------------------------------------------
------------ ----------- ----------- ---------- ---------- ----------- ---------- ---------- ----------- ---------- -----------
Yr.1 Yr.2 Yr.3 Yr. 4 Yr. 5 Yr. 6 Yr. 7 Yr. 8 Yr. 9 Yr. 10 Yr. 11+
------------ ----------- ----------- ---------- ---------- ----------- ---------- ---------- ----------- ---------- -----------
------------ ----------- ----------- ---------- ---------- ----------- ---------- ---------- ----------- ---------- -----------
9.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0%
------------ ----------- ----------- ---------- ---------- ----------- ---------- ---------- ----------- ---------- -----------
* In jurisdictions that have not yet approved this schedule, the schedule for Annuities issued prior to November 20, 2006
will apply.
B. Under the "Expense Examples" section of the Prospectus, we add a parenthetical after XT6 stating "(CDSC schedule for
Annuities issued before November 20, 2006)". In addition, we add a new line item as follows:
- -------------------- ------------------------------------- ------------------------------------- -------------------------------------
IF YOU SURRENDER YOUR ANNUITY AT IF YOU ANNUITIZE YOUR ANNUITY AT IF YOU DO NOT SURRENDER YOUR
THE END OF THE APPLICABLE TIME THE END OF THE APPLICABLE TIME ANNUITY:
PERIOD: PERIOD:
- -------------------- ------------------------------------- ------------------------------------- -------------------------------------
- -------------------- --------- -------- --------- -------- --------- -------- --------- -------- --------- -------- --------- --------
XT6 (CDSC schedule $1,479 $2,599 $3,602 $6,025 N/A N/A $3,026 $5,929 $615 $1,831 $3,026 $5,929
for Annuities
issued on or after
November 20, 2006)
- -------------------- --------- -------- --------- -------- --------- -------- --------- -------- --------- -------- --------- --------
C. We revise Appendix F of the Prospectus entitled "Selecting the Variable Annuity That's Right for You" as follows:
We revise the entry entitled "Withdrawal Charge Schedule" as follows: (9%,9%,8%,7%,6%,5%,4%,3%,2%,1% for Annuities issued on or
after November 20, 2006), and (9%, 9%, 8.5%, 8%, 7%, 6%, 5%, 4%, 3% 2% for Annuities issued prior to November 20, 2006).
The 0 percent and 6 percent Gross Rate of Return columns for Xtra Credit SIX assume the CDSC applicable to such Annuities sold
prior to November 20, 2006. In addition to those hypothetical values, we add these values, for Xtra Credit SIX Annuities sold on
or after November 20, 2006, which are subject to a different CDSC schedule:
0% Gross Rate of Return
- ----------- ------------------------ ----------------------- ------------------------ -----------------------
APEX II ASAP III Xtra Credit SIX ASL II
- ----------- ------------------------ ----------------------- ------------------------ -----------------------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
Contract Surrender Contract Surrender Contract Surrender Contract Surrender
Yr Value Value Value Value Value Value Value Value
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
1 96,942 88,442 97,335 88,835 103,243 94,243 96,942 96,942
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
2 93,936 85,936 94,700 87,700 100,044 91,044 93,936 93,936
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
3 91,021 84,021 92,136 85,636 96,942 88,942 91,021 91,021
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
4 88,197 82,197 89,640 83,640 93,936 86,936 88,197 88,197
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
5 85,458 85,458 87,211 82,211 91,022 85,022 85,458 85,458
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
6 85,470 85,470 85,333 81,333 88,197 83,197 82,804 82,804
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
7 82,815 82,815 83,019 80,019 85,458 81,458 80,231 80,231
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
8 80,242 80,242 80,767 78,767 82,804 79,804 77,737 77,737
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
9 77,748 77,748 79,051 79,051 80,231 78,231 75,320 75,320
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
10 75,330 75,330 77,371 77,371 77,737 76,737 72,976 72,976
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
11 72,986 72,986 75,727 75,727 76,083 76,083 70,705 70,705
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
12 70,714 70,714 74,117 74,117 74,466 74,466 68,503 68,503
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
13 68,512 68,512 72,541 72,541 72,882 72,882 66,368 66,368
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
14 66,377 66,377 70,998 70,998 71,332 71,332 64299 64,299
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
15 64,308 64,308 69,486 69,486 69,813 69,813 62,294 62,294
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
16 62,302 62,302 68,006 68,006 68,326 68,326 60,350 60,350
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
17 60,358 60,358 66,557 66,557 66,871 66,871 58,465 58,465
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
18 58,473 58,473 65,138 65,138 65,445 65,445 56,639 56,639
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
19 56,647 56,647 63,748 63,748 64,049 64,049 54,868 54,868
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
20 54,876 54,876 62,387 62,387 62,682 62,682 53,152 53,152
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
21 53,159 53,159 61,055 61,055 61,344 61,344 51,488 51,488
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
22 51,495 51,495 59,751 59,751 60,033 60,033 49,876 49,876
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
23 49,882 49,882 58,473 58,473 58,750 58,750 48,312 48,312
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
24 48,319 48,319 57,222 57,222 57,493 57,493 46,797 46,797
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
25 46,803 46,803 55,997 55,997 56,263 56,263 45,328 45,328
- ----------- ----------- ------------ ----------- ----------- ------------ ----------- ----------- -----------
Assumptions:
a. $100,000 initial investment
b. Fund Expenses = 1.44%
c. No optional death benefits or living benefits elected
d. Annuity was issued on or after November 20, 2006
e. Surrender value assumes surrender 2 days before policy anniversary
6% Gross Rate of Return
- ------------ ------------------------ ----------------------- ----------------------- -----------------------
APEX II ASAP III Xtra Credit SIX ASL II
- ------------ ------------------------ ----------------------- ----------------------- -----------------------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
Yr Contract Surrender Contract Surrender Contract Surrender Contract Surrender
Value Value Value Value Value Value Value Value
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
1 102,742 94,242 103,159 94,659 109,420 100,420 102,742 102,742
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
2 105,567 97,567 106,427 99,427 112,393 103,393 105,567 105,567
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
3 108,470 101,470 109,798 103,298 115,448 107,448 108,470 108,470
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
4 111,453 105,453 113,276 107,276 118,586 111,586 111,453 111,453
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
5 114,518 114,518 116,864 111,864 121,811 115,811 114,518 114,518
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
6 120,492 120,492 121,082 117,082 125,125 120,125 117,667 117,667
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
7 123,805 123,805 124,917 121,917 128,530 124,530 120,902 120,902
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
8 127,210 127,210 128,874 126,874 132,028 129,028 124,227 124,227
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
9 130,708 130,708 133,762 133,762 135,623 133,623 127,643 127,643
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
10 134,302 134,302 138,838 138,838 139,316 138,316 131,153 131,153
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
11 137,995 137,995 144,106 144,106 144,562 144,562 134,759 134,759
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
12 141,789 141,789 149,574 149,574 150,011 150,011 138,465 138465
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
13 145,688 145,688 155,250 155,250 155,667 155,667 142,272 142,272
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
14 149,694 149,694 161,141 161,141 161,537 161,537 146,184 146,184
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
15 153,811 153,811 167,255 167,255 167,631 167,631 150,204 150,204
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
16 158,040 158,040 173,602 173,602 173,955 173,955 154,334 154,334
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
17 162,386 162,386 180,189 180,189 180,520 180,520 158,578 158,578
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
18 166,851 166,851 187,027 187,027 187,333 187,333 162,939 162,939
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
19 171,439 171,439 194,123 194,123 194,405 194,405 167,419 167,419
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
20 176,153 176,153 201,489 201,489 201,746 201,746 172,023 172,023
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
21 180,997 180,997 209,135 209,135 209,365 209,365 176,753 176,753
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
22 185,974 185,974 217,071 217,071 217,273 217,273 181,613 181,613
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
23 191,088 191,088 225,307 225,307 225,481 225,481 186,607 186,607
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
24 196,343 196,343 233,857 233,857 234,000 234,000 191,739 191,739
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
25 201,742 201,742 242,730 242,730 242,843 242,843 197,011 197,011
- ------------ ----------- ------------ ----------- ----------- ----------- ----------- ----------- -----------
Assumptions:
a. $100,000 initial investment
b. Fund Expenses = 1.44%
c. No optional death benefits or living benefits elected
d. Annuity was issued on or after November 20, 2006
e. Surrender value assumes surrender 2 days before policy anniversary
Finally, we replace each table that depicts the days in which each annuity product would have the highest surrender value with the
following:
In addition, the following charts indicate the days (measured from the Issue Date) in which each annuity product would have the
highest Surrender Value amongst the products listed given the above assumptions.
0% Gross Rate of Return (After November 20, 2006)
---------------------------- ------------------------- -------------------------- --------------------------
Over 30 Years, days won Year Actual Days
Total Days
---------------------------- ------------------------- -------------------------- --------------------------
---------------------------- ------------------------- -------------------------- --------------------------
APEX II 1459 4-5 1460-1824
6-8 1826-2919
---------------------------- ------------------------- -------------------------- --------------------------
---------------------------- ------------------------- -------------------------- --------------------------
ASAP III 635 9 2936-3284
10 3364-3649
---------------------------- ------------------------- -------------------------- --------------------------
---------------------------- ------------------------- -------------------------- --------------------------
Xtra Credit SIX 7397 5 1825
8-9 2920-2935
9-10 3285-3363
10-30 3650-10950
---------------------------- ------------------------- -------------------------- --------------------------
---------------------------- ------------------------- -------------------------- --------------------------
ASL II 1824 1-5 1-1824
---------------------------- ------------------------- -------------------------- --------------------------
6% Gross Rate of Return (After November 20, 2006)
---------------------------- ------------------------- -------------------------- --------------------------
Over 30 Years, days won Year Actual Days
Total Days
---------------------------- ------------------------- -------------------------- --------------------------
---------------------------- ------------------------- -------------------------- --------------------------
APEX II 364 6 1826-2189
---------------------------- ------------------------- -------------------------- --------------------------
---------------------------- ------------------------- -------------------------- --------------------------
ASAP III 910 9 3245-3284
10 3511-3649
28-30 10220-10950
---------------------------- ------------------------- -------------------------- --------------------------
---------------------------- ------------------------- -------------------------- --------------------------
Xtra Credit SIX 8472 4-5 1205-1825
6-9 2190-3244
9-10 3245-3510
10-28 3650-10219
---------------------------- ------------------------- -------------------------- --------------------------
---------------------------- ------------------------- -------------------------- --------------------------
ASL II 1204 1-4 1-1204
---------------------------- ------------------------- -------------------------- --------------------------
3. CHANGE WITH RESPECT TO CERTAIN PORTFOLIOS OF AMERICAN SKANDIA TRUST
In the "Investment Options" section of the prospectus, we make the following changes to the chart setting forth a brief
description of each variable investment option, to reflect the following subadviser name change with respect to one of the
variable investment options:
o AST Small Cap Value Portfolio. Salomon Brothers Asset Management will change its name to ClearBridge Advisers LLC,
effective in December 2006.
In the "Investment Options" section of the prospectus, we revise the investment objectives/policies section, and portfolio
advisor/sub-advisor section for two Portfolios to read as follows. These new descriptions reflect the addition of sub-advisors as
well as revisions to non-fundamental investment policies:
AST LSV International Value Portfolio.
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
PORTFOLIO
STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/
TYPE SUB-ADVISOR
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
International AST International Value Portfolio (formerly AST LSV International Value Portfolio): seeks LSV Asset Management,
capital growth. The Portfolio normally invests at least 80% of the Portfolio's investable Thornburg Investment
assets (net assets plus borrowings made for investment purposes) in the equity securities of Management, Inc.
Equity companies in developed countries outside the United States that are represented in the MSCI
EAFE Index.
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
AST William Blair International Growth Portfolio.
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
PORTFOLIO
STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/
TYPE SUB-ADVISOR
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
International AST International Growth Portfolio (formerly,AST William Blair International Growth Marsico Capital
Portfolio): seeks long-term capital appreciation. The Portfolio invests primarily in Management LLC,
equity-related securities of foreign issuers. The Portfolio invests primarily in the common William Blair &
stock of large and medium-sized foreign companies, although it may also invest in companies of Company, LLC
all sizes. Under normal circumstances, the Portfolio invests at least 65% of its total assets
Equity in common stock of foreign companies operating or based in at least five different countries,
which may include countries with emerging markets. The Portfolio looks primarily for stocks of
companies whose earnings are growing at a faster rate than other companies or which offer
attractive growth potential.
- ------------------- ------------------------------------------------------------------------------------------------ -----------------------
4. WE ADD THE FOLLOWING AS APPENDIX G:
Appendix G
Asset Transfer Formula Under Highest Daily Lifetime Five Benefit
We set out below the current formula under which we may transfer amounts between the variable investment options and the Benefit
Fixed Rate Account. As discussed in the "Living Benefits" section, we reserve the right to modify this formula with respect to
those who elect Highest Daily Lifetime Five in the future. However, upon your election of Highest Daily Lifetime Five, we will
not alter the asset transfer formula that applies to your Annuity.
Terms and Definitions referenced in the calculation formula:
o Cu - the upper target is established on the effective date of the Highest Daily Lifetime Five benefit (the "Effective
Date") and is not changed for the life of the guarantee. Currently, it is 83%.
o Ct - the target is established on the Effective Date and is not changed for the life of the guarantee. Currently, it is
80%.
o Cl - the lower target is established on the Effective Date and is not changed for the life of the guarantee. Currently,
it is 77%.
o L - the target value as of the current Valuation Day.
o r - the target ratio.
o a - the factors used in calculating the target value. These factors are established on the Effective Date and are not
changed for the life of the guarantee. The factors that we use currently are derived from the a2000 Individual Annuity
Mortality Table with an assumed interest rate of 3%. Each number in the table "a" factors (which appears below) represents
a factor, which when multiplied by the Highest Daily Annual Income Amount, projects our total liability for the purpose of
asset transfers under the guarantee.
o Q - age based factors used in calculating the target value. These factors are established on the Effective Date and are
not changed for the life of the guarantee. The factor is currently set equal to 1.
o V - the total value of all Permitted Sub-accounts in the Annuity.
o F - the total value of all Benefit Fixed Rate Account allocations.
o I - the Income Value prior to the first withdrawal. The Income Value is equal to what the Highest Daily Annual Income
Amount would be if the first withdrawal were taken on the date of calculation. After the first withdrawal the Income Value
equals the greater of the Highest Daily Annual Income Amount, the quarterly step-up amount times the Annual Income
Percentage, and the Account Value times the Annual Income Percentage.
o T - the amount of a transfer into or out of the Benefit Fixed Rate Account.
o I% - Annual Income Amount percentage. This factor is established on the Effective Date and is not changed for the life
of the guarantee. Currently, it is 5%
Target Value Calculation:
On each Valuation Day, a target value (L) is calculated, according to the following formula. If the variable Account Value (V) is
equal to zero, no calculation is necessary.
L = I * Q * a
Transfer Calculation:
The following formula, which is set on the Effective Date and is not changed for the life of the guarantee, determines when a
transfer is required:
Target Ratio r = (L – F) / V.
o If r > Cu, assets in the Permitted Sub-accounts are transferred to Benefit Fixed Rate Account.
o If r< Cl, and there are currently assets in the Benefit Fixed Rate Account (F > 0), assets in the Benefit Fixed Rate
Account are transferred to the Permitted Sub-accounts.
The following formula, which is set on the Effective Date and is not changed for the life of the guarantee, determines the
transfer amount:
T ={Min(V, [L - F - V * Ct] / (1-Ct))} T>0, Money moving from the Permitted Sub-accounts to the Benefit
Fixed Rate Account
T ={Min(F, [L - F - V * Ct] / (1-Ct))} T<0, Money moving from the Benefit Fixed Rate Account to the
Permitted Sub-accounts]
Example:
Male age 65 contributes $100,000 into the Permitted Sub accounts and the value drops to $92,300 during year one, end of day one.
A table of values for "a" appears below.
Target Value Calculation:
L = I * Q * a
= 5000.67 * 1 * 15.34
= 76,710.28
Target Ratio:
r = (L - F) / V
= (76,710.28 - 0) / 92,300.00
= 83.11%
Since r > Cu ( because 83.11% > 83%) a transfer into the Benefit Fixed rate Account occurs.
T = { Min ( V, [ L - F - V * Ct] / ( 1 - Ct))}
= { Min ( 92,300.00, [ 76,710.28 - 0 - 92,300.00 * 0.80] / ( 1 - 0.80))}
= { Min ( 92,300.00, 14,351.40 )}
= 14,351.40
Age 65 "a" Factors for Liability Calculations
(in Years and Months since Benefit Effective Date)*
Months
Years 1 2 3 4 5 6 7 8 9 10 11 12
1 15.34 15.31 15.27 15.23 15.20 15.16 15.13 15.09 15.05 15.02 14.98 14.95
2 14.91 14.87 14.84 14.80 14.76 14.73 14.69 14.66 14.62 14.58 14.55 14.51
3 14.47 14.44 14.40 14.36 14.33 14.29 14.26 14.22 14.18 14.15 14.11 14.07
4 14.04 14.00 13.96 13.93 13.89 13.85 13.82 13.78 13.74 13.71 13.67 13.63
5 13.60 13.56 13.52 13.48 13.45 13.41 13.37 13.34 13.30 13.26 13.23 13.19
6 13.15 13.12 13.08 13.04 13.00 12.97 12.93 12.89 12.86 12.82 12.78 12.75
7 12.71 12.67 12.63 12.60 12.56 12.52 12.49 12.45 12.41 12.38 12.34 12.30
8 12.26 12.23 12.19 12.15 12.12 12.08 12.04 12.01 11.97 11.93 11.90 11.86
9 11.82 11.78 11.75 11.71 11.67 11.64 11.60 11.56 11.53 11.49 11.45 11.42
10 11.38 11.34 11.31 11.27 11.23 11.20 11.16 11.12 11.09 11.05 11.01 10.98
11 10.94 10.90 10.87 10.83 10.79 10.76 10.72 10.69 10.65 10.61 10.58 10.54
12 10.50 10.47 10.43 10.40 10.36 10.32 10.29 10.25 10.21 10.18 10.14 10.11
13 10.07 10.04 10.00 9.96 9.93 9.89 9.86 9.82 9.79 9.75 9.71 9.68
14 9.64 9.61 9.57 9.54 9.50 9.47 9.43 9.40 9.36 9.33 9.29 9.26
15 9.22 9.19 9.15 9.12 9.08 9.05 9.02 8.98 8.95 8.91 8.88 8.84
16 8.81 8.77 8.74 8.71 8.67 8.64 8.60 8.57 8.54 8.50 8.47 8.44
17 8.40 8.37 8.34 8.30 8.27 8.24 8.20 8.17 8.14 8.10 8.07 8.04
18 8.00 7.97 7.94 7.91 7.88 7.84 7.81 7.78 7.75 7.71 7.68 7.65
19 7.62 7.59 7.55 7.52 7.49 7.46 7.43 7.40 7.37 7.33 7.30 7.27
20 7.24 7.21 7.18 7.15 7.12 7.09 7.06 7.03 7.00 6.97 6.94 6.91
21 6.88 6.85 6.82 6.79 6.76 6.73 6.70 6.67 6.64 6.61 6.58 6.55
22 6.52 6.50 6.47 6.44 6.41 6.38 6.36 6.33 6.30 6.27 6.24 6.22
23 6.19 6.16 6.13 6.11 6.08 6.05 6.03 6.00 5.97 5.94 5.92 5.89
24 5.86 5.84 5.81 5.79 5.76 5.74 5.71 5.69 5.66 5.63 5.61 5.58
25 5.56 5.53 5.51 5.48 5.46 5.44 5.41 5.39 5.36 5.34 5.32 5.29
26 5.27 5.24 5.22 5.20 5.18 5.15 5.13 5.11 5.08 5.06 5.04 5.01
27 4.99 4.97 4.95 4.93 4.91 4.88 4.86 4.84 4.82 4.80 4.78 4.75
28 4.73 4.71 4.69 4.67 4.65 4.63 4.61 4.59 4.57 4.55 4.53 4.51
29 4.49 4.47 4.45 4.43 4.41 4.39 4.37 4.35 4.33 4.32 4.30 4.28
30 4.26 4.24 4.22 4.20 4.18 4.17 4.15 4.13 4.11 4.09 4.07 4.06
31 4.04 4.02 4.00 3.98 3.97 3.95 3.93 3.91 3.90 3.88 3.86 3.84
32 3.83 3.81 3.79 3.78 3.76 3.74 3.72 3.71 3.69 3.67 3.66 3.64
33 3.62 3.61 3.59 3.57 3.55 3.54 3.52 3.50 3.49 3.47 3.45 3.44
34 3.42 3.40 3.39 3.37 3.35 3.34 3.32 3.30 3.29 3.27 3.25 3.24
35 3.22 3.20 3.18 3.17 3.15 3.13 3.12 3.10 3.08 3.07 3.05 3.03
36 3.02 3.00 2.98 2.96 2.95 2.93 2.91 2.90 2.88 2.86 2.85 2.83
37 2.81 2.79 2.78 2.76 2.74 2.73 2.71 2.69 2.68 2.66 2.64 2.62
38 2.61 2.59 2.57 2.56 2.54 2.52 2.51 2.49 2.47 2.45 2.44 2.42
39 2.40 2.39 2.37 2.35 2.34 2.32 2.30 2.29 2.27 2.25 2.24 2.22
40 2.20 2.19 2.17 2.15 2.14 2.12 2.11 2.09 2.07 2.06 2.04 2.02
41 2.01 1.84 1.67 1.51 1.34 1.17 1.00 0.84 0.67 0.50 0.33 0.17
* The values set forth in this table are applied to all ages.