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PRUCO LIFE INSURANCE COMPANY
213 Washington Street, Newark, NJ 07102-2992
THE PRUDENTIAL [LOGO] A STOCK COMPANY SUBSIDIARY OF
The Prudential Insurance Company of America
INSURED JOHN DOE XX XXX XXX POLICY NUMBER
JULY 1, 1999 CONTRACT DATE
AGENCY R-NK 1
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Flexible Premium Variable Life Insurance Policy. Insurance payable only upon
death. Cash values reflect premium payments, investment results, and charges.
Non-participating.
We will promptly pay the beneficiary the death benefit described under the Death
Benefit provision of this contract if we receive due proof that the Insured
died. We make this promise subject to all the provisions of this contract.
THE AMOUNT AND DURATION OF THE DEATH BENEFIT MAY BE FIXED OR VARIABLE, DEPENDING
ON THE PAYMENT OF PREMIUMS, THE INVESTMENT EXPERIENCE OF THE VARIABLE INVESTMENT
OPTIONS, AND THE CHARGES MADE.
THE CASH VALUE MAY INCREASE OR DECREASE DAILY, DEPENDING ON THE PAYMENT OF
PREMIUMS, THE INVESTMENT EXPERIENCE OF THE VARIABLE INVESTMENT OPTIONS, AND THE
CHARGES MADE. THERE IS NO GUARANTEED MINIMUM CASH VALUE.
If there is ever a question about this contract, please see a Pruco Life
Insurance Company representative or contact one of our offices.
RIGHT TO CANCEL CONTRACT.- You may return this contract to us within 10 days
after you receive it. All you have to do is take the contract or mail it to one
of our offices or to the representative who sold it to you. It will be canceled
and we will return your money in accordance with applicable law.
Signed for Pruco Life Insurance Company,
an Arizona Corporation.
SPECIMEN [stamp] SPECIMEN [stamp]
/s/Susan L. Blount /s/Esther H. Milnes
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Secretary President
PLEASE READ YOUR POLICY CAREFULLY; it is a legal contract between you and Pruco
Life Insurance Company.
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CVUL--1999
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GUIDE TO CONTENTS
PAGE
CONTRACT DATA ............................................................. 3
Insured's Information; Rating Class; Basic Contract Information; Type of
Death Benefit; Life Insurance on the Insured; Minimum Initial Premium;
Contract Limitations; Other Benefits (if applicable); Adjustments to
Premium Payments; Adjustments to the Contract Fund; Monthly Deductions
from the Contract Fund for Other Benefits (if applicable); Variable
Investment Options; Initial Allocation of Invested Premium Amounts;
Segment Table
TABLE OF MAXIMUM MONTHLY INSURANCE RATES PER $1000 ....................... 4
TABLE OF ATTAINED AGE FACTORS ............................................ 4
DEFINITIONS .............................................................. 5
THE CONTRACT ............................................................. 5
Entire Contract; Contract Modifications; Incontestability
OWNERSHIP ................................................................ 6
DEATH BENEFIT PROVISIONS ................................................. 6&7
Death Benefit; Changing the Type C Death Benefit Interest Rate;
Additional Death Benefits; Method of Payment; Net Amount at Risk; Suicide
Exclusion; Interest on Death Benefit
CHANGE IN BASIC INSURANCE AMOUNT ......................................... 7
COST OF INSURANCE ........................................................ 8
CHANGING THE TYPE OF DEATH BENEFIT ....................................... 8&9
Type A to B; Type A to C; Type B to A; Type B to C; Type C to A; Type C
to B
BENEFICIARY .............................................................. 9
PREMIUM PAYMENT .......................................................... 10&11
Payment of Premiums; Invested Premium Amount; Charge for Sales Expenses;
Crediting the Initial Premium Payment; Allocations
CONTRACT FUND ............................................................ 11
DEFAULT .................................................................. 11
Notice of Default
REINSTATEMENT ............................................................ 11
SEPARATE ACCOUNT ......................................................... 12
Separate Account; Variable Investment Options; Separate Account
Investments
Page 2
(CVUL--1999)
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Page
TRANSFERS ................................................................ 13
SURRENDER ................................................................ 13
Cash Value; Net Cash Value; Return of Sales Charges
WITHDRAWALS .............................................................. 14
Effect on Contract Fund; Effect on Basic Insurance Amount
LOANS .................................................................... 15
Loan Value; Contract Debt; Loan Requirements; Interest Charge; Preferred
Loan; Maximum Preferred Loan Amount; Effect on Contract Fund
GENERAL PROVISIONS ....................................................... 16
Annual Report; Payment of Death Claim; Currency; Misstatement of Age or
Sex; Assignment; Change in Plan; Factors Subject to Change;
NonParticipating; Applicable Tax Law
BASIS OF COMPUTATION ..................................................... 17
Mortality Basis and Interest Rate; Minimum Legal Values
SETTLEMENT OPTIONS ....................................................... 18
Options Described; Interest Rate
SETTLEMENT OPTIONS TABLES ................................................ 19
A copy of the application and any riders or endorsements can be found at
the end of the contract
Page 2A
(CVUL--1999)
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[BLANK PAGE}
Page 2B
(CVUL--1999)
PROCESSING DATE: JUL 10, 1999
CONTRACT DATA
INSURED
JOHN DOE Male, Issue Age 35
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RATING CLASS
(See Segment Table on Page 4)
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BASIC CONTRACT INFORMATION
Policy Number XX XXX XXX
Contract Date July 1, 1999
Premium Period Life
Beneficiary See Beneficiary Provision attached
Loan Interest Rate 5.00%
Preferred Loan Interest Rate 4.25&
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TYPE OF DEATH BENEFIT (see Death Benefit Provisions)
Type B
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LIFE INSURANCE ON THE INSURED
Basic Insurance
Effective Date Amount
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Contract Date $100,000.00
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MINIMUM INITIAL PREMIUM
The minimum initial premium due on the Contract Date is $350.73.
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CONTRACT DATA CONTINUED ON NEXT PAGE
Page 3 (99)
PROCESSING DATE: JUL 10, 1999
POLICY NO. XX XXX XXX
CONTRACT DATA CONTINUED
CONTRACT LIMITATIONS
The minimum premium we will accept is $25.00.
The minimum basic insurance amount is $100,000.00
The minimum increase in basic insurance amount is $5,000.00.
The minimum decrease in basic insurance amount is $5,000.00.
The minimum amount you may withdraw is $500.00.
The minimum amount you may borrow is $200.00.
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ADJUSTMENTS TO PREMIUM PAYMENTS
From each premium paid we will:
Subtract a charge for up to 7.5% for any taxes attributable to premiums.
For purposes of this charge, the term "taxes attributable to premiums"
shall include: (a) any federal, state or local income tax, (b) any premium,
excise, or business tax, and (c) any other type of tax (or component
thereof) measured by or based upon the amount of premium received by us.
Subtract a charge for sales expenses from premiums paid as described in the
Charge For Sales Expenses provision.
The remainder of the premium is the invested premium amount.
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ADJUSTMENTS TO THE CONTRACT FUND
On the Contract Date the contract fund is equal to the invested premium
amount credited on that date, minus any of the charges described below
which may be due on that date.
On each day after the contract date, we will adjust the contract fund by:
adding any invested premium amounts.
adding any increase due to investment results of the variable investment
options.
CONTRACT DATA CONTINUED ON NEXT PAGE
Page 3A (99)
PROCESSING DATE: JUL 10, 1999
POLICY NO. XX XXX XXX
CONTRACT DATA CONTINUED
adding guaranteed interest at an effective annual rate of 4% (0.01074598% a
day) on that portion of the contract fund that is attributable to any loan
amount (see Loans).
subtracting any decrease due to investment results of the variable
investment options.
subtracting a charge against the variable investment options at an
effective annual rate of not more than 0.50% (.00136646% a day) for
mortality and expense risks that we assume.
subtracting any withdrawals.
subtracting an administrative charge of up to $25.00 for any withdrawals.
subtracting an administrative charge of up to $25.00 for any change in
basic insurance amount.
subtracting an administrative charge of up to $25.00 for each transfer
between variable investment options exceeding twelve in any contract year.
And on each monthly date, we will adjust the contract fund by:
subtracting a charge for administrative expenses of up to $0.05 per $1,000
of the basic insurance amount of each Basic Insurance Segment, totaled,
plus $10.00.
subtracting a deduction for the cost of any other benefits.
subtracting a charge for the cost of insurance (see Cost of Insurance).
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CONTRACT DATA CONTINUED ON NEXT PAGE
Page 3B (99)
PROCESSING DATE: JUL 10, 1999
POLICY NO. XX XXX XXX
CONTRACT DATA CONTINUED
VARIABLE INVESTMENT OPTIONS
THE PRUCO LIFE VARIABLE UNIVERSAL ACCOUNT
Each variable investment option of this account invests in a specific
portfolio of The Prudential Series Fund, Inc. and such other funds as we
may specify from time to time. We show the available variable investment
options of the account below. Unless we say otherwise, the variable
investment options invest in funds or fund portfolios with the same names.
This account is registered with the SEC under the Investment Company Act of
1940.
THE PRUDENTIAL SERIES FUND, INC.
Money Market Portfolio
Diversified Bond Portfolio
Conservative Balanced Portfolio
Flexible Managed Portfolio
High Yield Bond Portfolio
Stock Index Portfolio
Equity Income Portfolio
Equity Portfolio
Prudential Jennison Portfolio
Global Portfolio
AIM VARIABLE INSURANCE FUNDS, INC.
AIM V.I. Value Fund
JANUS ASPEN SERIES
Janus Aspen Growth Portfolio
MFS VARIABLE INSURANCE TRUST
MFS Emerging Growth Series
T. ROWE PRICE INTERNATIONAL SERIES, INC.
T. Rowe Price International Stock Portfolio
CONTRACT DATA CONTINUED ON NEXT PAGE
Page 3C (99)
PROCESSING DATE: JUL 10, 1999
POLICY NO. XX XXX XXX
CONTRACT DATA CONTINUED
AMERICAN CENTURY VARIABLE PORTFOLIO, INC.
American Century VP Value Fund
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INITIAL ALLOCATION OF INVESTED PREMIUM AMOUNTS
High Yield Bond Portfolio 40%
Money Market Portfolio 60%
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END OF CONTRACT DATA
Page 3D (99)
PROCESSING DATE: JUL 10, 1999
POLICY NO. XX XXX XXX
TABLE(S)
SEGMENT TABLE
This table is used to compute the charge for sales expenses and the cost of
insurance. See the Charge for Sales Expenses and Cost of Insurance provisions
for details. The information shown below for each segment starts on the
effective date of the segment.
SEGMENT,
ISSUE AGE, &
EFFECTIVE DATE RATING CLASS (RC) SEGMENT ALLOCATION AMOUNT
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Contract Date $100,000.00 Basic Insurance $3897.00
Amount changing on Jul 1, 2009 to $0.00
Issue Age 35
(RC = Preferred)
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TABLE(S) CONTINUED ON NEXT PAGE
Page 4 (99)
PROCESSING DATE: JUL 10, 1999
POLICY NO. XX XXX XXX
TABLES(S) CONTINUED
TABLE OF MAXIMUM MONTHLY INSURANCE RATES PER $1,000
RATING CLASS: PREFERRED
INSURED'S MAXIMUM INSURED'S MAXIMUM
ATTAINED AGE* MONTHLY RATE ATTAINED AGE* MONTHLY RATE
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35 0.14417 65 1.85417
36 0.15167 66 2.05167
37 0.16167 67 2.26333
38 0.17250 68 2.49333
39 0.18417 69 2.74833
40 0.19833 70 3.03667
41 0.21333 71 3.36583
42 0.22917 72 3.74583
43 0.24667 73 4.17583
44 0.26583 74 4.64833
45 0.28750 75 5.15333
46 0.31083 76 5.68667
47 0.33583 77 6.24417
48 0.36333 78 6.82917
49 0.39333 79 7.46000
50 0.42750 80 8.15667
51 0.46667 81 8.93750
52 0.51167 82 9.81833
53 0.56333 83 10.79500
54 0.62083 84 11.84833
55 0.68500 85 12.95416
56 0.75500 86 14.09833
57 0.82917 87 15.26333
58 0.91167 88 16.44416
59 1.00417 89 17.65750
60 1.10750 90 18.92083
61 1.22250 91 20.26333
62 1.35500 92 21.73500
63 1.50500 93 23.47917
64 1.67167 94 25.81917
TABLE(S) CONTINUED ON NEXT PAGE
Page 4A (99)
PROCESSING DATE: JUL 10, 1999
POLICY NO. XX XXX XXX
TABLES(S) CONTINUED
INSURED'S MAXIMUM INSURED'S MAXIMUM
ATTAINED AGE* MONTHLY RATE ATTAINED AGE* MONTHLY RATE
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95 29.32167 98 62.09583
96 35.08250 99 and above 83.33333
97 45.08333
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* For the segment amount(s) effective on the contact date (see Segment
Table), the Insured's attained age is the issue age found on page 3 plus
the length of time since the contract date.
For any segment amount(s) effective after the contract date, the Insured's
attained age is the issue age of that segment plus the length of time since
its effective date.
We may charge less than the maximum monthly rates. From time to time, we will
consider the need to change the rates we charge. We describe the factors we use
to determine such changes under General Provisions.
See the Basis of Computation for a description of the basis we use to compute
these rates.
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TABLES(S) CONTINUED ON NEXT PAGE
Page 4B (99)
PROCESSING DATE: JUL 10, 1999
POLICY NO. XX XXX XXX
TABLES(S) CONTINUED
TABLE OF ATTAINED AGE FACTORS
These factors are used to determine your death benefit as described under Death
Benefit Provisions.
These factors apply during each contract year starting on the contract
anniversary.
CONTRACT CONTRACT
YEAR FACTORS YEAR FACTORS
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1 2.50 31 1.20
2 2.50 32 1.19
3 2.50 33 1.18
4 2.50 34 1.17
5 2.50 35 1.16
6 2.50 36 1.15
7 2.43 37 1.13
8 2.36 38 1.11
9 2.29 39 1.09
10 2.22 40 1.07
11 2.15 41 1.05
12 2.09 42 1.05
13 2.03 43 1.05
14 1.97 44 1.05
15 1.91 45 1.05
16 1.85 46 1.05
17 1.78 47 1.05
18 1.71 48 1.05
19 1.64 49 1.05
20 1.57 50 1.05
21 1.50 51 1.05
22 1.46 52 1.05
23 1.42 53 1.05
24 1.38 54 1.05
25 1.34 55 1.05
26 1.30 56 1.05
27 1.28 57 1.04
28 1.26 58 1.03
29 1.24 59 1.02
30 1.22 60 1.01
TABLES(S) CONTINUED ON NEXT PAGE
Page 4C (99)
PROCESSING DATE: JUL 10, 1999
POLICY NO. XX XXX XXX
TABLES(S) CONTINUED
CONTRACT CONTRACT
YEAR FACTORS YEAR FACTORS
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61 1.00 64 1.00
62 1.00 65 1.00
63 1.00 66 and above 1.00
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END OF TABLE(S)
Page 4D (99)
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DEFINITIONS
WE, OUR and US.--Pruco Life Insurance Company.
YOU and YOUR.--The owner(s) of the contract.
INSURED.--The person named as the Insured on the first
page. He or she need not be the owner.
SEC.--The Securities and Exchange Commission.
ISSUE DATE.--The contract date shown on the first page.
ANNIVERSARY or CONTRACT ANNIVERSARY.--The same day and
month as the contract date in each later year.
CONTRACT YEAR.--A year that starts on the contract date
or on an anniversary.
MONTHLY DATE.--The contract date and the same day as
the contract date in each later month.
CONTRACT MONTH.--A month that starts on a monthly date.
TARGET YEAR.--A year beginning on the effective date of
a basic insurance amount segment (see Segment Table)
and on the same day and month in a later year.
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THE CONTRACT
ENTIRE CONTRACT This policy and any attached copy of the application,
including an application requesting a change, form the
entire contract. We assume that all statements in an
application are made to the best of the knowledge and
belief of the person(s) who make them; in the absence
of fraud, they are deemed to be representations and not
warranties. We rely on those statements when we issue
the contract and when we change it. We will not use any
statement, unless made in an application, to try to
void the contract, to contest a change, or to deny a
claim.
CONTRACT MODIFICATIONS Only a Pruco Life Insurance Company officer with the
rank or title of vice president may agree to modify
this contract, and then only in writing.
INCONTESTABILITY Except as we state in the next sentence, we will not
contest this contract after it has been in force during
the Insured's lifetime for two years from the issue
date. The exceptions are: (1) non-payment of enough
premium to pay the required charges; and (2) any change
in the contract that requires our approval and that
would increase our liability. For any such change, we
will not contest the change after it has been in effect
for two years during the lifetime of the Insured.
Page 5
(CVUL--1999)
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OWNERSHIP
Unless a different owner is named in the application,
the owner of the contract is the Insured. If a
different owner is named, we will show that owner in an
endorsement to the contract. This ownership arrangement
will remain in effect unless you ask us to change it.
You may change the ownership of the contract by sending
us a request in a form that meets our needs. We may ask
you to send us the contract to be endorsed. If we
receive your request in a form that meets our needs,
and the contract if we ask for it, we will file and
record the change, and it will take effect as of the
date you signed the request.
While the Insured is living, the owner, with no one
else's consent, is entitled to any contract benefit and
value, and to the exercise of any right and privilege
granted by the contract or by us.
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DEATH BENEFIT PROVISIONS
We will pay a benefit (described below) to the
beneficiary at the Insured's death if this contract is
in force at the time of that death; that is, if it has
not been surrendered and it is not in default past the
grace period.
If the contract is not in default, the amount we will
pay will be the death benefit determined as of the date
of the Insured's death reduced by any contract debt
(described under Loans).
If the contract is in default, and the Insured's death
occurs in the grace period (described under Default),
we will pay the death benefit reduced by any contract
debt and the amount needed to pay charges through the
date of death.
If the Insured's death occurs past the grace period, no
death benefit is payable.
DEATH BENEFIT This contract has a Type A, Type B, or Type C death
benefit. We show the type of death benefit that applies
to this contract under Type of Death Benefit. We show
the basic insurance amount under Life Insurance on the
Insured. The attained age factors are shown in the
Table of Attained Age Factors.
If this contract has a Type A death benefit, the death
benefit on any date is equal to the greater of: (1) the
basic insurance amount, and (2) the contract fund
before deduction of any monthly charges due on that
date plus a return of sales charges as described under
Surrender, multiplied by the attained age factor that
applies.
If this contract has a Type B death benefit, the death
benefit on any date is equal to the greater of: (1) the
basic insurance amount plus the contact fund before
deduction of any monthly charges due on that date, and
(2) the contract fund before deduction of any monthly
charges due on that date plus a return of sales charges
as described under Surrender, multiplied by the
attained age factor that applies.
If this contract has a Type C death benefit, the death
benefit on any date is equal to the greater of: (1) the
basic insurance amount plus the total premiums paid
minus total withdrawals to this contract both
accumulated with interest at the rate(s) displayed in
the contract data pages, and (2) the contract fund
before deduction of any monthly charges due on that
date plus a return of sales charges as described under
Surrender, multiplied by the attained age factor that
applies. For the purpose of determining the Type C
death benefit, the total premiums paid will not include
any charge to reinstate this contract as described
under Reinstatement.
For the purposes of computing the death benefit, if the
contract fund is less than zero we will consider it to
be zero. Your basic insurance amount and attained age
factors are shown in the contract data pages.
CHANGING THE TYPE C You may change the interest rate for the Type C death
DEATH BENEFIT INTEREST benefit once each contract year. You may choose a rate
RATE between 0% and 8% in 1/2% increments. The change will
become effective on the monthly date on or after the
date we receive your request.
Page 6
(CVUL--1999)
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ADDITIONAL DEATH This contract may provide additional benefits, which
BENEFITS may be payable on an Insured's death. If it does, they
will be listed on a contract data page in the section
captioned Other Benefits on the Insured, and a form
describing the benefit will be included in this
contract. Any such benefit will be payable only if the
contract is not in default past the grace period at the
time of the death.
METHOD OF PAYMENT You may choose to have any death benefit paid in a
single sum or under one of the optional modes of
settlement shown in the Settlement Options provision.
NET AMOUNT AT RISK The net amount at risk is used to determined the cost
of insurance as described under Adjustments to the
Contract Fund. It is equal to the death benefit (see
Death Benefit) minus the contract fund.
SUICIDE EXCLUSION If the Insured, whether sane or insane, dies by suicide
within two years from the issue date, this contract
will end and we will return the premiums paid, less any
contract debt, and less any withdrawals.
The following statement applies only with respect to an
increase in the basic insurance amount resulting from a
request you make in accordance with the Change in Basic
Insurance Amount provision of this contract. If the
Insured, whether sane or insane, dies by suicide after
two years from the issue date but within two years of
the effective date of an increase in the basic
insurance amount, we will pay, as to the increase in
amount, no more than the sum of the premiums paid on
and after the effective date of the increase.
INTEREST ON DEATH Any death benefit described above will be credited with
BENEFIT interest from the date of death in accordance with
applicable laws.
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CHANGE IN BASIC INSURANCE AMOUNT
You may change the basic insurance amount, subject to
our approval and all these conditions and the
paragraphs that follow:
1. You must ask for the change in a form that meets
our needs.
2. The change must be one permitted by our current
underwriting rules.
3. The amount of an increase or decrease must be at
least equal to the minimum increase or decrease in
basic insurance amount shown under Contract
Limitations in the contract data pages.
4. The basic insurance amount after the decrease must
be at least equal to the minimum basic insurance
amount shown under Contract Limitations in the
contract data pages.
5. If we ask you to do so, you must send us the
contract to be endorsed.
6. You must prove to us that the Insured is insurable
for any increase.
7. The contract must not be in default.
8. We may deny any increase if it would cause the
number of segments shown in the Segment Table in
the contract data pages to exceed ninety-nine.
A change will take effect only if we approve your
request for it at our Home Office. Unless you ask us
otherwise, the change will take effect on the date we
approve it. You may request an earlier date, but it may
not be more than 90 days prior to the date of request.
If we approve the change, we will also recompute the
contract's charges, values and limitations. A change in
the basic insurance amount may also affect the amount
of any extra benefits this contract might have. We will
send you new contract data pages showing the amount and
effective date of the change and the recomputed
charges, values and limitations. If the Insured is not
living on the effective date, the change will not take
effect. We may deduct the administrative charge (shown
under Adjustments to the Contract Fund) for the change.
Page 7
(CVUL--1999)
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COST OF INSURANCE
On each monthly date, we will deduct a charge for the
cost of insurance from the contract fund. To determine
the maximum charge for the cost of insurance, we use
the following method:
We determine the maximum cost of insurance rate for
each currently effective basic insurance segment amount
shown in the Segment Table in the data pages using the
maximum monthly rate shown under the Table of Maximum
Monthly Insurance Rates for the appropriate rating
class. If there is only one basic insurance segment
amount currently in effect, we multiply the rate by the
net amount at risk (the death benefit minus the
contract fund) divided by $1000 to compute the maximum
charge for the cost of insurance.
If there are two or more basic insurance segments
currently in effect, we first allocate the total net
amount at risk (the death benefit minus the contract
fund) to each basic insurance segment based on the
proportion of its basic insurance amount to the total
of all basic insurance segment amounts currently in
effect. We multiply the rate by the allocated net
amount at risk divided by $1000 for each basic
insurance segment and add the results to determine the
total maximum charge for the cost of insurance.
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CHANGING THE TYPE OF DEATH BENEFIT
This contract has a Type A, a Type B, or a Type C death
benefit (See Death Benefit). Subject to our approval,
you may change the type of death benefit. Except as we
state below, we will adjust the basic insurance amount
so that the death benefit immediately after the change
will remain the same as the death benefit immediately
before the change. If the basic insurance amount is
scheduled to change in the future (see Life Insurance
on the Insured in the contract data pages), we will
similarly adjust those future basic insurance amounts.
When changing to the Type C death benefit, you may
choose an interest rate between 0% and 8% in 1/2%
increments. Interest will begin to accumulate on the
day the change takes effect. When changing to or from a
Type C death benefit, we will not add any charge to
reinstate to the total premiums paid on this contract.
TYPE A TO B If you are changing from a Type A to a Type B death
benefit, we will reduce the basic insurance amount by
the contract fund on the date the change takes effect.
TYPE A TO C If you are changing from a Type A to a Type C death
benefit, we will change the basic insurance amount by
subtracting the total premiums paid on this contract
minus total withdrawals on the date the change takes
effect.
TYPE B TO A If you are changing from a Type B to a Type A death
benefit, we will increase the basic insurance amount by
the contract fund on the date the change takes effect.
TYPE B TO C If you are changing from a Type B to a Type C death
benefit, we first find the difference between (1) the
contract fund and (2) the total premiums paid on the
contract minus total withdrawals, determined on the
date the change takes effect. If (1) is larger than
(2), we will increase the basic insurance amount by
that difference. If (2) is large than (1), we will
reduce the basic insurance amount by that difference.
TYPE C TO A If you are changing from a Type C to a Type A death
benefit, we will change the basic insurance amount by
adding the total premiums paid minus total withdrawals
to this contract both accumulated with interest at the
rate(s) displayed in the contract data pages on the
date the change takes effect.
TYPE C TO B If you are changing from a Type C to a Type B death
benefit, we first find the difference between (1) the
contract fund and (2) the total premiums paid minus
total withdrawals to this contract both accumulated
with interest at the rate(s) displayed in the contract
data pages on the date the change takes effect. If (2)
is larger than (1), we will increase the basic
insurance amount by that difference. If (1) is larger
than (2), we will reduce the basic insurance amount by
that difference.
Page 8
(CVUL--1999)
If the change in the type of death benefit results in a
reduction in the basic insurance amount, the basic
insurance amount after the decrease must be at least
equal to the minimum basic insurance amount, which we
show under Contract Limitations in the contract data
pages.
A change in the type of death benefit will take effect
only if we approve your request at our Home Office. If
we approve the change, we will recompute the contract's
charges, values and limitations shown in the contract
data pages. The change will take effect on the monthly
date that coincides with or next follows the date we
approve your request. We will send you new contract
data pages showing the amount and effective date of the
change in basic insurance amount and the recomputed
charges, values and limitations.
Your request for a change must be in a form that meets
our needs. We may require you to send us this contract
before we make the change.
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BENEFICIARY
You may designate or change a beneficiary by sending us
a request in a form that meets our needs. We may ask
you to send us the contract to be endorsed. If we
receive your request, and the contract if we ask for
it, we will file and record the change and it will take
effect as of the date you signed the request. But if we
make any payment(s) before we receive the request, we
will not have to make the payment(s) again. Any
beneficiary's interest is subject to the rights of any
assignee we know of.
When a beneficiary is designated, any relationship
shown is to the Insured, unless otherwise stated. To
show priority, we may use numbered classes, so that the
class with first priority is called class 1, the class
with next priority is called class 2, and so on. When
we use numbered classes, these statements apply to
beneficiaries unless the form states otherwise.
1. One who survives the Insured will have the right to
be paid only if no one in a prior class survives
the Insured.
2. One who has the right to be paid will be the only
one paid if no one else in the same class survives
the Insured.
3. Two or more in the same class who have the right to
be paid will be paid in equal shares.
4. If no beneficiary survives the Insured, we will pay
in one sum to the Insured's estate.
Before we make a payment, we have the right to decide
what proof we need of the identity, age, or other facts
about any persons designated as beneficiaries. If
beneficiaries are not designated by name and we make
payment(s) based on that proof, we will not have to
make the payment(s) again.
Page 9
(CVUL--1999)
- -------------------------=======================================================
PREMIUM PAYMENT
PAYMENT OF PREMIUMS The minimum initial premium shown in the contract data
pages is due on or before the contract date. There is
no insurance under this contract until that premium is
paid. We may require an additional premium if
adjustments to premium payments plus any contract fund
charges due on or before the payment date exceed the
minimum initial premium.
Subject to the limitations below, additional premiums
may be paid at any time during the Insured's lifetime
as long as the contract is not in default beyond the
grace period. Premiums may be paid at one of our
offices or to one of our authorized representatives. We
will give a signed receipt upon request. The minimum
premium we will accept is shown on a contract data
page. We have the right to refuse to accept a premium
payment that would in our opinion cause this contract
to fail to qualify as life insurance under applicable
tax law. We also have the right to refuse to accept any
payment that increases the death benefit by more than
it increases the contract fund.
INVESTED PREMIUM The invested premium amount is the portion of each
AMOUNT premium you pay that we add to the contract fund. It
is equal to the premium paid minus the adjustments to
premium payments shown under Adjustments to Premium
Payments on a contract data page.
CHARGE FOR SALES We subtract a charge for sales expenses from each
EXPENSES premium paid.
If, on the day we receive a premium, the total of all
effective segment allocation amounts is greater than
zero (see the Segment Table), we may deduct a sales
expense charge of up to 15% on all or a portion of the
premium and a charge of up to 2% on any remainder.
To determine the premium amount subject to the 15%
maximum rate, we use the following method:
1. We allocate the premium to each basic insurance
segment based on the proportion of its segment
allocation amount to the total of all segment
allocation amounts currently in effect.
2. We determine the amount of any premium previously
allocated to each basic insurance segment during
the current Target Year. We subtract this amount,
if any, from the segment allocation amount of each
such basic insurance segment. If the result is less
than zero, we consider it to be zero.
We take the lesser of the amounts determined in (1) and
(2) above for each basic insurance segment currently in
effect and add them together. The total is the amount
of the premium subject to the maximum 15% rate. If the
premium is greater than this total, the excess will be
subject to the maximum 2% rate.
If, on the day we receive a premium, the total of all
effective segment allocation amounts is zero (see the
Segment Table), we will deduct a sales expense charge
of up to 2% of the entire premium amount.
CREDITING THE INITIAL If we receive the first premium payment on or before
PREMIUM PAYMENT the contract date, we will credit the invested premium
amount to the contract fund on the contract date.
If we receive the first premium payment after the
contract date, we will credit the premium amount to the
contract fund on the payment date.
ALLOCATIONS We will allocate 100% of any invested premium into the
Money Market Investment Option until the end of the
Right to Cancel Contract period described on the
contract jacket. At the end of this period, unless you
ask us otherwise, we will re-allocate the amount in the
Money market Investment Option in accordance with the
Initial Allocation of Invested Premium Amounts shown in
the contract data pages.
You may allocate all or a part of your invested premium
amount to one or more of the variable investment
options listed in the contract data pages. You may
choose to allocate nothing to a particular variable
investment option. You may not choose a fractional
percentage.
Page 10
(CVUL--1999)
The initial allocation of invested premium amounts is
shown on a contract data page. You may change the
allocation for future invested premium amounts at any
time if the contract is not in default. To change your
allocation, simply notify us in a form that meets our
needs. The change will take effect on the date we
receive your notice; we will send you a confirmation of
the transaction.
- -------------------------=======================================================
CONTRACT FUND
When you make your first premium payment, the invested
premium amount, less any charges due on or before that
day, becomes your contract fund. Amounts are added and
subtracted from the contract fund as shown under
Adjustments to the Contract Fund in the contract data
pages. The contract fund is used to pay charges under
this contract and will determine, in part, whether this
contract will remain in force or go into default. The
contract fund is also used to determine your loan and
surrender values, the amount you may withdraw, and the
death benefit.
- -------------------------=======================================================
DEFAULT
On each monthly date, we will determine the net cash
value. If the net cash value is greater than zero, the
contract will remain in force until the next monthly
date. If the net cash value is zero or less, the
contract is in default.
NOTICE OF DEFAULT If the contract is in default, we will mail you a
notice stating the amount we will need to keep the
contract in force. That amount will equal a premium
which we estimate will keep the contract in force for
three months from the date of default. We grant a 61
day grace period from the date we mail the notice to
pay this charge. The contract will remain in force
during this period. If that amount is not paid to us by
the end of the 61-day grace period, the contract will
end and have no value.
- -------------------------=======================================================
REINSTATEMENT
If this contract ends without value, as described under
Default, you may reinstate it. The following conditions
must be satisfied:
1. The contract must not have been in default for more
than 5 years.
2. You must prove to us that the Insured is insurable
for the contract.
3. You must pay us a charge equal to: (a) an amount,
if any, required to bring the contract fund to zero
on the date the contract went into default, plus
(b) the deductions from the contract fund during
the grace period following the date of default,
plus (c) a premium that we estimate will be
sufficient after administrative charges to cover
the deductions from the contract fund for three
monthly dates starting on the date of
reinstatement.
4. Any contract debt (with interest to date at the
rate(s) we set for loans as we state under Loans)
must be restored or paid back. If that debt with
interest would exceed the loan value of the
reinstated contract, the excess must be paid to us
before reinstatement.
The date of reinstatement will be the beginning of the
contract month that coincides with or next follows the
date we approve your request. We will deduct all
required charges from your payment and put the balance
in your contract fund.
Page 11
(CVUL--1999)
- -------------------------=======================================================
SEPARATE ACCOUNT
SEPARATE ACCOUNT The words "separate account," when we use them in this
contract without qualification, mean any separate
account we establish to support variable life insurance
contracts like this one. We list the separate accounts
available to you in the contract data pages. We may
establish additional separate accounts. We will notify
you within one year if we do so.
VARIABLE INVESTMENT A separate account may offer one or more variable
OPTIONS investment options. We list them in the contract data
pages. We may establish additional variable investment
options. We will notify you within one year if we do
so. We may also eliminate existing variable investment
options, but only with the consent of the SEC and,
where required, of the insurance regulator of our state
of domicile and/or where this contract is delivered.
Income and realized and unrealized gains and losses
from assets in each variable investment option are
credited to, or charged against, that variable
investment option. This is without regard to income,
gains, or losses in other variable investment options.
SEPARATE ACCOUNT We may invest the assets of different separate accounts
INVESTMENTS in different ways. But we will do so only with the
consent of the SEC and, where required, of the
insurance regulator of our state of domicile and/or
where this contract is delivered.
The assets of the separate account shall be available
to cover the liabilities of the general account only to
the extent that the assets exceed the liabilities of
the separate account arising under the variable life
insurance policies supported by the separate account.
We will determine the value of the assets in each
separate account registered with the SEC under the
Investment Company Act of 1940 and any variable
investment option on each day the New York Stock
Exchange is open for business.
Page 12
(CVUL--1999)
- -------------------------=======================================================
TRANSFERS
You have the right to transfer amounts into or out of
variable investment options up to twelve times in each
contract year without charge if the contract is not in
default. Additional transfers may be made during each
contract year, but only with our consent. We may charge
for additional transfers as we state under Adjustments
to the Contract Fund.
We may restrict the number, timing and amount of
transfers in accordance with our rules if your transfer
activity is determined by us to be disruptive to the
variable investment option or to the disadvantage of
other contract owners. We may prohibit transfer
requests made by an individual acting under a power of
attorney on behalf of more than one contract owner.
To make a transfer, you must ask us in a form that
meets our needs. Unless otherwise restricted, the
transfer will take effect on the date we receive your
notice at our Home Office.
- -------------------------=======================================================
SURRENDER
You may surrender this contract for its net cash value.
To do so, you must ask us in a form that meets our
needs. We may require you to send us the contract.
We will usually pay any net cash value within seven
days after we receive your request and the contract (if
we require it) at our Home Office. But we have the
right to postpone paying you the part of the net cash
value that is to come from any variable investment
option provided by a separate account registered under
the Investment Company Act of 1940 if: (1) the New York
Stock Exchange is closed; or (2) the SEC requires that
trading be restricted or declares an emergency.
CASH VALUE The cash value at any time is the contract fund.
NET CASH VALUE The net cash value at any time is the cash value less
any contract debt.
If the contract is in default, the net cash value is
zero.
RETURN OF SALES If the contract is not in default, we will, upon
CHARGES surrender within four years of the contract date,
return 50% of any sales charges we deducted from
premiums paid within 24 months prior to the date we
receive your surrender request at our Home Office.
Page 13
(CVUL--1999)
- -------------------------=======================================================
WITHDRAWALS
You may make withdrawals from the contract subject to
all these conditions and the paragraph that follows:
1. You must ask for the withdrawal in a form that
meets our needs.
2. The net cash value after withdrawal may not be less
than or equal to zero after deducting any charges
associated with the withdrawal.
3. You may not withdraw less than the minimum amount
shown under Contract Limitations.
4. The basic insurance amount after withdrawals must
be at least equal to the minimum basic insurance
amount shown under Contract Limitations.
5. If you have a type A death benefit, we may ask for
proof that the Insured is insurable for an increase
in the net amount at risk. See Effect on Basic
Insurance Amount for details.
Any amount withdrawn may not be repaid except as a
premium subject to charges.
EFFECT ON CONTRACT On the date we approve your request for withdrawal, we
FUND will reduce your contract fund by the withdrawal amount
and any charges listed under Adjustments to the
Contract Fund. Unless you request otherwise, we will
take any withdrawal proportionately from all variable
investment options that apply to the contract.
We may charge an administrative fee as stated under
Adjustments to the Contract Fund.
EFFECT ON BASIC If you have a Type B or Type C death benefit,
INSURANCE AMOUNT withdrawals will not affect the basic insurance amount.
If you have a Type A death benefit and the withdrawal
would cause the net amount at risk (see Net Amount at
Risk) to increase, you must prove to us that the
Insured is insurable for the increase. Otherwise, we
will reduce the basic insurance amount and,
consequently, your death benefit to offset this
increase. If the basic insurance amount is scheduled to
change (see Life Insurance on the Insured in the
Contract Data pages), we will similarly adjust all
remaining basic insurance amounts. The reduction in the
basic insurance amount will never be more than the
withdrawal amount. If we reduce the basic insurance
amount, we will recompute the contract's charges,
values and limitations. We will send you new contract
data pages showing these changes.
We will usually pay any withdrawal amount within seven
days after we receive your request and the contract (if
we require it) at our Home Office. But we have the
right to postpone paying you the part of the withdrawal
that is to come from any variable investment option
provided by a separate account registered under the
Investment Company Act of 1940 if: (1) the New York
Stock Exchange is closed; or (2) the SEC requires that
trading be restricted or declares an emergency.
Page 14
(CVUL--1999)
- -------------------------=======================================================
LOANS
Subject to the minimum loan requirement and the
requirements of this provision, you may at any time
borrow any amount up to the current loan value less any
existing contract debt.
LOAN VALUE If the contract is not in default, the loan value at
any time is equal to 90% of the cash value.
If the contract is in default, it has no loan value.
CONTRACT DEBT Contract debt at any time means the loan on the
contract at that time, plus the interest we have
charged that is not yet due and that we have not yet
added to the loan.
LOAN REQUIREMENTS For us to approve a loan, the following requirements
must be met: you must assign this contract to us as
sole security for the loan; the Insured must be living;
and the resulting contract debt must not be more than
the loan value.
If there is already contract debt when you borrow from
us, we will add the new amount you borrow to that debt.
INTEREST CHARGE We will charge interest daily on any loan. Interest is
due on each contract anniversary, or when the loan is
paid back, whichever comes first. If interest is not
paid when due, it becomes part of the loan. Then we
start to charge interest on it, too. Except as stated
below, we charge interest at an effective annual rate
shown under Loan Interest Rate in the contract data
pages.
PREFERRED LOAN Unless you ask us otherwise, a portion of the amount
you may borrow on or after the 10th contract
anniversary will be considered a Preferred Loan up to
an amount equal to the maximum preferred loan amount
described below. Preferred Loans are charged interest
at an effective annual rate shown under Preferred Loan
Interest Rate in the contract data pages.
MAXIMUM PREFERRED The maximum preferred loan amount available starting on
LOAN AMOUNT the 10th contract anniversary is (A) minus (B), where
(A) is the total amount you may borrow, and (B) is the
total premiums paid less total withdrawals, if any. If
(B) is less than zero, we will consider it to be zero.
EFFECT ON CONTRACT When you take a loan, the amount of the loan continues
FUND to be a part of the contract fund and is credited with
interest at an effective rate of 4% a year.
We will reduce the portion of the contract fund
allocated to the variable investment options by the
amount you borrow, and by loan interest that becomes
part of the loan if it is not paid when due.
We will take any loan proportionately from all variable
investment options that apply to the contract unless
you ask us otherwise.
On each monthly date, if there is a contract loan
outstanding, we will increase the portion of the
contract fund in the variable investment options by
interest credits accrued on the loan since the last
monthly date. When you repay all or part of a loan, we
will increase the portion of the contract fund in the
variable investment options by the amount of that
repayment plus the interest credits accrued on the loan
since the last transaction date. To do this, we will
use your investment allocation for future premium
payments on file as of the loan payment date. We will
also decrease the portion of the contract fund on which
we credit the guaranteed interest rate of 4% a year by
the amount of loan you repay.
We will not increase the portion of the contract fund
allocated to the variable investment options by loan
interest that is paid before we make it part of the
loan. We reserve the right to change the manner in
which we allocate loan repayments. If we make such a
change, we will do so for all contracts like this one.
We will send you notice of any change.
Page 15
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GENERAL PROVISIONS
ANNUAL REPORT At least once each contract year we will send you a
report. It will show: the death benefit; the amount of
the contract fund in each variable investment option;
the net cash value; any contract debt and the interest
rate we are charging; premiums paid, investment
results, charges deducted, and withdrawals taken since
the last report. The report may also show any other
data that may be required where this contract is
delivered.
PAYMENT OF DEATH If we settle the contract in one sum as a death claim
CLAIM we will usually pay the proceeds within seven days
after we receive at our Home Office proof of the
Insured's death and any other information we need to
pay the claim. But we have the right to postpone paying
the part of the proceeds that is to come from a
variable investment option provided by a separate
account registered under the Investment Company Act of
1940 if: (1) the New York Stock Exchange is closed; or
(2) the SEC requires that trading be restricted or
declares an emergency.
CURRENCY Any money we pay, or that is paid to us, must be in
United States currency. Any amount we owe will be
payable at our Corporate Office.
MISSTATEMENT OF If the Insured's stated age or sex or both are not
AGE OR SEX correct, we will change each benefit and any amount to
be paid to what the most recent deductions from the
contract fund would have provided at the Insured's
correct age and sex.
ASSIGNMENT We will not be deemed to know of an assignment unless
we receive it, or a copy of it, at our Home Office. We
are not obliged to see that an assignment is valid or
sufficient. This contract may not be assigned to any
employee benefit plan or program without our consent.
This contract may not be assigned if such assignment
would violate any federal, state, or local law or
regulation prohibiting sex distinct rates for
insurance.
CHANGE IN PLAN You may be able to have this contract changed to
another plan of life insurance. Any change may be made
only if we consent, and will be subject to conditions
and charges that are then determined.
FACTORS SUBJECT TO Charges deducted from premium payments and the contract
CHANGE fund may change from time to time, subject to the
maximums shown in the contract data pages. In deciding
whether to change any of these charges, we will
periodically consider factors such as mortality,
persistency, expenses, taxes and interest and/or
investment experience to see if a change in our
assumptions is needed. Changes in factors will be by
class.
NON-PARTICIPATING This contract will not share in our profits or surplus
earnings. We will pay no dividends on it.
APPLICABLE TAX LAW This contract has been designed to satisfy the
definition of life insurance for Federal income tax
purposes under Section 7702 of the Internal Revenue
Code of 1986, as amended. We reserve the right,
however, to decline any change we determine would cause
this contract to fail to qualify as life insurance
under the applicable tax law. This includes, but is not
limited to, changing the basic insurance amount,
withdrawals, and changing the type of death benefit. We
have the right to change this contract, to require
additional premium payments, or to make distributions
from this contract to the extent necessary to continue
to qualify this contract as life insurance. We also
have the right to refuse to accept a premium payment
that would in our opinion cause this contract to fail
to qualify as life insurance under applicable tax law.
Page 16
(CVUL--1999)
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BASIS OF COMPUTATION
MORTALITY BASIS AND We compute maximum monthly insurance rates using:
INTEREST RATE
1. the Commissioners 1980 Standard Ordinary Smoker and
Nonsmoker Mortality Tables without Ten Year Select
Mortality Factors;
2. the rating class of the Insured;
3. the issue age of the Insured and the length of time
since the contract date or segment effective date;
4. age last birthday; and
5. an effective interest rate of 4% a year.
MINIMUM LEGAL VALUES The surrender values provided by this contract are at
least as large as those set by law where it is
delivered. Where required, we have given the insurance
regulator a detailed statement of how we compute values
and benefits.
Page 17
(CVUL--1999)
- -------------------------=======================================================
SETTLEMENT OPTIONS
OPTIONS DESCRIBED You may choose to have the proceeds (that is, any death
benefit or any amount payable upon surrender of the
contract) paid in a single sum or under one of the
optional modes of settlement described below.
If the person who is to receive the proceeds of this
contract wishes to take advantage of one of these
optional modes, we will furnish, on request, details of
the options we describe below or any others we may have
available at the time the proceeds become payable.
OPTION 1 (INSTALLMENTS We will make equal payments for up to 25 years. The
FOR A FIXED PERIOD) Option 1 Table shows the minimum amounts we will pay.
OPTION 2 (LIFE INCOME) We will make equal monthly payments for as long as the
person on whose life the settlement is based lives,
with payments certain for 120 months or until the sum
of the payments equals the amount put under this
option. The Option 2 Table shows the minimum amounts we
will pay. But, we must have proof of the date of birth
of the person on whose life the settlement is based.
The settlement will share in our surplus to the extent
and in the way we decide.
OPTION 3 (INTEREST We will hold an amount at interest. We will pay the
PAYMENT) interest annually, semi-annually, quarterly, or
monthly.
OPTION 4 (INSTALLMENTS We will make equal annual, semi-annual, quarterly, or
OF A FIXED AMOUNT) monthly payments for as long as the available proceeds
provide.
OPTION 5 (NON- We will make payments like those of any annuity we then
PARTICIPATING INCOME) regularly issue that: (1) is based on United States
currency; (2) is bought by a single sum; (3) does not
provide for dividends; and (4) does not normally
provide for deferral of the first payment. Each payment
will be at least equal to what we would pay under that
kind of annuity with its first payment due on its
contract date. If a life income is chosen, we must have
proof of the date of birth of any person on whose life
the option is based. Option 5 cannot be chosen more
than 30 days before the due date of the first payment.
INTEREST RATE Payments under Options 1 and 4 will be calculated
assuming an effective interest rate of at least 3-1/2%
a year. Under Option 3 it will be at an effective rate
of at least 3% a year.
Page 18
(CVUL--1999)
- -------------------------=======================================================
SETTLEMENT OPTIONS TABLES
OPTION 1 TABLE
- ---------------------------
MINIMUM AMOUNT OF
MONTHLY PAYMENT FOR
EACH $1,000, THE FIRST
PAYABLE IMMEDIATELY
- ---------------------------
Number Monthly
of Years Payment
- ---------------------------
1 $84.65
2 43.05
3 29.19
4 22.27
5 18.12
6 15.35
7 13.38
8 11.90
9 10.75
10 9.83
11 9.09
12 8.46
13 7.94
14 7.49
15 7.10
16 6.76
17 6.47
18 6.20
19 5.97
20 5.75
21 5.56
22 5.39
23 5.24
24 5.09
25 4.96
- ---------------------------
Multiply the monthly amount
by 2.989 for quarterly,
5.952 for semi-annual or
11.804 for annual.
- ---------------------------
OPTION 2 TABLE
- ------------------------------------------------------------------------------------------------
MINIMUM AMOUNT OF MONTHLY PAYMENT FOR EACH $1,000, THE FIRST
PAYABLE IMMEDIATELY
- ------------------------------------------------------------------------------------------------
KIND OF LIFE INCOME KIND OF LIFE INCOME
------------------------------------ ------------------------------------
AGE 10-Year Instalment AGE 10-Year Instalment
LAST Certain Refund LAST Certain Refund
BIRTHDAY Male Female Male Female BIRTHDAY Male Female Male Female
- ---------------------------------------------- ----------------------------------------------
10 $3.18 $3.11 $3.17 $3.10 45 $4.06 $3.82 $3.99 $3.78
and under 46 4.12 3.86 4.03 3.81
11 3.19 3.12 3.18 3.11 47 4.17 3.90 4.08 3.85
12 3.20 3.13 3.19 3.12 48 4.23 3.94 4.13 3.90
13 3.21 3.14 3.20 3.13 49 4.28 3.99 4.18 3.94
14 3.22 3.15 3.21 3.14
50 4.35 4.04 4.24 3.98
15 3.24 3.16 3.23 3.15 51 4.41 4.09 4.29 4.03
16 3.25 3.17 3.24 3.16 52 4.48 4.15 4.36 4.08
17 3.27 3.19 3.25 3.18 53 4.55 4.21 4.41 4.13
18 3.28 3.20 3.27 3.19 54 4.62 4.27 4.48 4.19
19 3.30 3.21 3.28 3.20
55 4.70 4.33 4.55 4.24
20 3.31 3.22 3.30 3.21 56 4.78 4.40 4.62 4.30
21 3.33 3.24 3.32 3.23 57 4.86 4.47 4.69 4.37
22 3.35 3.25 3.33 3.24 58 4.95 4.54 4.77 4.43
23 3.36 3.26 3.35 3.25 59 5.05 4.62 4.86 4.50
24 3.38 3.28 3.37 3.27
60 5.15 4.71 4.94 4.58
25 3.40 3.30 3.39 3.29 61 5.25 4.79 5.03 4.66
26 3.42 3.31 3.41 3.30 62 5.36 4.89 5.13 4.74
27 3.45 3.33 3.43 3.32 63 5.48 4.98 5.23 4.82
28 3.47 3.35 3.45 3.34 64 5.60 5.09 5.34 4.92
29 3.49 3.37 3.47 3.35
65 5.73 5.20 5.45 5.01
30 3.52 3.39 3.49 3.37 66 5.87 5.31 5.57 5.11
31 3.54 3.41 3.52 3.39 67 6.01 5.43 5.70 5.22
32 3.57 3.43 3.54 3.41 68 6.15 5.56 5.83 5.34
33 3.60 3.45 3.57 3.44 69 6.30 5.70 5.97 5.46
34 3.63 3.47 3.60 3.46
70 6.46 5.84 6.11 5.58
35 3.66 3.50 3.63 3.48 71 6.62 5.99 6.27 5.72
36 3.69 3.52 3.66 3.50 72 6.79 6.15 6.43 5.86
37 3.72 3.55 3.69 3.53 73 6.96 6.31 6.60 6.01
38 3.76 3.58 3.72 3.56 74 7.13 6.49 6.78 6.18
39 3.80 3.61 3.75 3.58
75 7.30 6.67 6.97 6.35
40 3.84 3.64 3.79 3.61 76 7.48 6.85 7.17 6.53
41 3.88 3.67 3.82 3.64 77 7.66 7.04 7.38 6.72
42 3.92 3.70 3.86 3.67 78 7.83 7.24 7.60 6.93
43 3.97 3.74 3.90 3.71 79 8.00 7.44 7.83 7.15
44 4.01 3.78 3.94 3.74
80 8.17 7.64 8.07 7.38
and over
Page 19
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FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY. INSURANCE PAYABLE ONLY UPON
DEATH. CASH VALUES REFLECT PREMIUM PAYMENTS, INVESTMENT RESULTS, AND CHARGES.
NON-PARTICIPATING.
Page 20
CVUL--1999