EXHIBIT 99.a5f
WAIVER OF MONTHLY DEDUCTION RIDER
This rider is a part of the base policy whose number is shown below. If not
shown below, the Base Policy Number is shown on the Policy Data Page.
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BASE POLICY NUMBER
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DEFINITIONS
THE INSURED
The person insured under the base policy.
YOU, YOUR
The current owner of the base policy.
WE, US, OUR
ReliaStar Life Insurance Company at our Home Office in Minneapolis, Minnesota.
WRITTEN, IN WRITING
A written request or notice, signed and dated, and received at our Home Office
in a form we accept. The form and content of the request or notice must be
acceptable to us.
AGE
The insured's age as of the prior policy anniversary; however, if the insured's
birthday is a policy anniversary, the insured's age on that birthday.
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TOTAL DISABILITY
For the first 24 months of the insured's disability, we consider the insured
totally disabled if:
1.
The insured is unable to work at his or her regular occupation; or
2.
The insured has a Specific Loss.
After the first 24 months of the insured's disability, we consider the insured
totally disabled if:
1.
The insured is unable to work at any job suited to his or her education,
training, and experience; or
2.
The insured has a Specific Loss.
Specific Loss means the total and permanent loss of any of the following:
1.
The sight in both eyes;
2.
The use of both hands;
3.
The use of both feet; or
4.
The use of one hand and one foot.
We consider the insured totally disabled for as long as the Specific Loss lasts.
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[LOGO] RELIASTAR
RELIASTAR LIFE INSURANCE COMPANY
Box 20
Minneapolis
Minnesota 55440
Executed at our Home Office
John H. Flittie President
/s/ John H. Flittie
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Susan M. Bergen Secretary
/s/ Susan M. Bergen
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WAIVER BENEFITS
We will pay the Monthly Deduction for you if the insured becomes totally
disabled and meets the Conditions for Waiver Benefits. We do not apply the
Minimum Premium Requirement for the Death Benefit Guarantee during the period of
total disability.
The length of time we continue the Waiver Benefits depends on when total
disability begins. If the insured becomes totally disabled before Age 60, we
will pay the Monthly Deduction for as long as the insured remains totally
disabled. If the insured becomes totally disabled after Age 60, we will continue
to pay the Monthly Deduction if the insured remains totally disabled until the
later of:
1.
The insured's Age 65; or
2.
Two years from the date of disability.
When the insured is no longer totally disabled, we will stop paying the Monthly
Deduction for you. If the Death Benefit Guarantee was in effect when total
disability began, we apply the Minimum Premium Requirement for the Death Benefit
Guarantee as of the Monthly Anniversary on or next following the date the
insured is no longer totally disabled.
If the insured becomes totally disabled again, we consider it a new period of
total disability. The terms of this rider apply to the new period separately
from any earlier period.
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CONDITIONS FOR WAIVER BENEFITS
To pay Waiver Benefits, we need written Notice of Claim and Proof of Total
Disability. All of the following conditions must also be met:
1.
The policy and this rider must be in force when the sickness or injury causing
the total disability occurs;
2.
The policy and this rider must be in force when total disability begins;
3.
Total disability must begin on or after the insured's Age five and before the
insured's Age 65;
4.
The insured must be continuously totally disabled for at least six months; and
5.
You must pay all the required premiums until the end of this six month period.
If we approve your claim, the Waiver Benefit begins with the Monthly Deduction
due on or after the date the total disability began. Any Monthly Deductions that
were deducted from the Accumulation Value of the base policy after the
disability began will be added back to the Accumulation Value as of the date we
approve your claim. We credit those Monthly Deductions as Net Premiums without
Premium Expense Charges.
If this rider and the base policy lapse, you may still qualify for Waiver
Benefits if:
1.
We receive written Notice of Claim within one year of the date of total
disability;
2.
The total disability for which claim is made began before the date of lapse; and
3.
All other terms of this rider are met.
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CONDITIONS FOR WAIVER BENEFITS (CONTINUED)
NOTICE OF CLAIM
We require written Notice of Claim before we will pay any future Monthly
Deductions. We must receive this Notice:
1.
While the insured is living; and
2.
Within one year of the date that total disability begins.
If you cannot give us Notice within one year, your claim may still be valid if
you show that you gave us notice as soon as you could.
PROOF OF TOTAL DISABILITY
We may require written proof of the insured's total disability before we provide
Waiver Benefits. This proof may include physical exams at our expense by doctors
we choose. However, for each period of total disability, we can only require one
exam a year after we have paid the Monthly Deductions for two consecutive years.
We cannot require any exam after the insured's Age 65. We will stop paying the
Monthly Deductions if you do not give us the required proof.
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COST OF RIDER BENEFITS
The cost of this rider's benefits is in addition to the cost for the base policy
and is included in the Monthly Deduction. This cost is based on a Percent of the
Monthly Deduction which is shown on the Policy Data Page.
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Face Amount Changes During Total Disability
While the insured is totally disabled and we are paying the Monthly Deduction
for you, you are limited to making increases in the Face Amount of the base
policy under the terms of a future purchase option rider, if any, attached to
the base policy. You may not make any adjustments in Face Amount while we are
paying the Monthly Deduction.
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DEATH BENEFIT OPTION
If the Death Benefit Option in effect at the end of the first six months of
total disability is Option A (Level Amount Option), it will be changed to Option
B (Variable Amount Option) on the first Monthly Anniversary Date after we
approve your claim. In this case, the Face Amount of the base policy is
decreased on that date so that it equals the Death Benefit under Option A minus
the Accumulation Value on the Monthly Anniversary on or next following the date
we approve your claim. If the Death Benefit Option in effect at the end of the
first six months of the total disability is Option B, we make no change. You
cannot make changes in Death Benefit Option while the insured is totally
disabled.
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TERMINATION
This rider terminates:
1.
If we are not paying Waiver Benefits, at the insured's Age 65;
2.
If we are paying Waiver Benefits due to total disability which began after the
insured's Age 60, the later of:
a.
The insured's Age 65, or
b.
Two years after the date of disability;
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GENERAL DEFINITIONS
WRITTEN, IN WRITING
A written request or notice, signed and dated, and re ceived at our home office.
The form and content of the request or notice must be acceptable to us.
YOU, YOUR
The owner of this policy, as shown on the Policy Data Page, unless changed as
allowed in this policy. The insured owns this policy unless another owner is
named.
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POLICY DEFINITIONS
ACCUMULATION UNIT
A unit of measure used to determine the Variable Accumulation Value.
ACCUMULATION VALUE
The total amount that this policy provides for investment at any time. The
Accumulation Value is the total of the Fixed Accumulation Value and the Variable
Accumulation Value.
CASH VALUE
The Accumulation Value minus any Surrender Charge.
CASH SURRENDER VALUE
The amount payable to you if you surrender this policy. It is the Cash Value
minus any Loan Amount and unpaid Monthly Deductions.
THE CODE
The Internal Revenue Code of 1986, as amended.
FACE AMOUNT
The minimum Death Benefit payable as long as this policy is in force. The
initial Face Amount is shown on the Policy Data Page. You may change the Face
Amount as described in this policy.
FIXED ACCOUNT
All our assets other than those allocated to the Variable Account or any other
separate account. We have complete ownership and control of the assets in the
Fixed Account.
LOAN AMOUNT
The sum of all unpaid policy loans.
MONTHLY ANNIVERSARY
The same date in each succeeding month as your Policy Date. Whenever your
Monthly Anniversary falls on a date other than a Valuation Date, the Monthly
Anniversary will be the next Valuation Date.
POLICY DATE
The Policy Date is used in determining policy years, policy
months, Monthly Anniversaries, and policy anniversaries. The
Policy Data Page shows the Policy Date.
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