Exhibit 1.A.5(b)
3E-5ACC-02
ACCELERATION OF DEATH BENEFIT RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
THE WAITING PERIODS FOR SUICIDE AND INCONTESTABILITY ARE DIFFERENT FROM THOSE IN
THE POLICY AND BEGIN ON THE ISSUE DATE OF THE RIDER.
This Rider is subject to all applicable terms and provisions of the Policy,
except as modified herein. This Rider is a part of the Policy if it is listed on
the Policy Specifications page or on the Policy Specifications page for Policy
Change. A copy of the application for this Rider is attached to and made a part
of the Rider.
IMPORTANT: THE BENEFIT PAYMENTS UNDER THIS RIDER MAY BE TAXABLE OR MAY AFFECT
ELIGIBILITY FOR BENEFITS UNDER STATE OR FEDERAL LAW. YOU SHOULD CONSULT YOUR TAX
ADVISER TO DETERMINE THE EFFECT ON YOU.
DEFINITIONS "Eligible Proceeds" are the Policy Proceeds as defined in your
Policy plus any amount of benefit provided by a rider that we
consent to apply to an Accelerated Death Benefit.
"Accelerated Death Benefit" is the amount we will pay under
this Rider if we receive proof that the Insured is terminally
ill.
We will compute the Accelerated Death Benefit based on the
following:
1. The amount of Eligible Proceeds you choose to accelerate.
(See Amount of Accelerated Death Benefit);
2. Reduced life expectancy;
3. An Interest Rate no greater than the greater of:
a. The current yield on 90 day treasury bills; and
b. The current maximum statutory adjustable policy loan
interest rate; and
4. A processing charge not to exceed $150.
This method of computation has been filed with the insurance
supervisory official of the state that governs your Policy. We
may change the assumptions we use from time to time.
"Terminally ill" means having a life expectancy of 12 months
or less.
AMOUNT OF You may choose to accelerate all or part of the Eligible
ACCELERATED Proceeds to your Accelerated Death Benefit subject to the
DEATH BENEFIT following conditions:
1. You must apply at least $20,000.
2. You cannot apply more than the greater of:
a. $250,000; and
b. 10% of the Eligible Proceeds under this and all
other similar riders issued by us and our affiliates.
3. The Face Amount of your Policy after payment of a partial
Accelerated Death Benefit must be at least $50,000.
CONDITIONS Your right to the Accelerated Death Benefit under this Rider
is subject to the following:
1. You must provide proof satisfactory to us, including a
statement signed by a physician, that the Insured is
terminally ill. The physician may not be you, the
Insured, or a member of the Insured's family. We have the
right to have the Insured examined at our expense by a
physician we choose.
2. You must make a written request for payment in a form
acceptable to us.
3. Any irrevocable beneficiary must give written consent for
payment in a form acceptable to us.
4. Any assignee must give written consent for payment in a
form acceptable to us.
5. We may require the Policy for endorsement.
6. You may request only one Accelerated Death Benefit under
this Rider.
7. Insurance subject to incontestability and suicide
provisions will not be included in the Eligible Proceeds.
8. Your Policy is not eligible for this benefit if:
a. You are required by law to use this Rider to meet
the claims of creditors, whether in bankruptcy or
otherwise; or
b. You are required by a government agency to use this
Rider to apply for, obtain, or keep a government
benefit or entitlement.
PAYMENT OF Unless otherwise requested, we may pay the Accelerated Death
ACCELERATED Benefit in one sum or by placing the amount in an account that
BENEFIT DEATH earns interest. You will have immediate access to all or any
part of the account.
EFFECT OF If you apply all of the Eligible Proceeds to your Accelerated
BENEFIT Death Benefit, all policy benefits based on the Insured's
ACCELERATION life, except for any benefit for accidental death, will end.
ON POLICY AND Any accidental death benefit rider on the life of the Insured
RIDERS will continue in force for 12 months from the date of any
payment under this Rider. Any riders that provide a benefit on
the life of someone other than the Insured will stay in effect
pursuant to their terms as if the Insured had died. No further
cost for those riders will be payable.
All policy values and the Death Benefit on the remaining
Policy, if any, will be reduced in the same proportion as the
amount of Eligible Proceeds was applied to the Accelerated
Death Benefit. Upon acceleration, future premiums and policy
charges will be based on the reduced Death Benefit of the
Policy. Insurance not included in the Eligible Proceeds will
not be affected.
INCONTESTABILITY This Rider will not be contestable after it has been in force
during the life of the Insured for two years from the Issue
Date of the Rider.
SUICIDE This Rider does not apply if the Insured's terminal illness is
EXCLUSION the result of an attempt to commit suicide, while sane or
insane, within two years from the Issue Date of the Rider.
TERMINATION This Rider will terminate at the earliest of:
1. When an Accelerated Death Benefit is paid;
2. The date on which the Policy would be disqualified as a
life insurance contract because this Rider is attached,
under the Internal Revenue Code as interpreted by the
Internal Revenue Service;
3. When the Policy to which this Rider is attached
terminates; and
4. The monthly anniversary on or following receipt by us at
our Home Office or any other office designated by us of
your written request to terminate this Rider. We may
require the Policy for endorsement.
The Issue Date and effective date of this Rider and the Policy are the same
unless another Issue Date is shown below.
______________
Issue Date
ADJUSTABLE BENEFIT TERM RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
This Rider is subject to all applicable terms and provisions of the Policy,
except as modified herein. This Rider is a part of the Policy if it is listed on
the Policy Specifications page. A copy of the application for this Rider is
attached to and made part of the Rider.
FACE AMOUNT The Face Amount of this Rider is shown on the Policy
Specifications page.
LIFE INSURANCE This Rider provides non-convertible term life insurance on the
BENEFIT Insured shown on the Policy Specifications page. We will pay
the Death Benefit of this Rider to the Beneficiary if the
Insured dies while this Rider is in force.
The Death Benefit provision in the Policy is modified so that
where it states "Face Amount" it means the Policy's Face
Amount plus this Rider's Face Amount.
ADJUSTABLE While this Rider is in force an adjustment in the Face Amount
BENEFIT TERM of this Rider may be requested. Except with our consent, such
DATES request may be made once each Policy year. The adjustment will
be effective on the Monthly Anniversary on or after our
receipt of the request.
ADJUSTABLE The Face Amount of this Rider may be increased subject to the
BENEFIT TERM following conditions:
AMOUNT
1. Written request, subject to our approval, to increase the
Face Amount of this Rider;
2. Proof that the Insured is insurable based on our
underwriting rules for this Rider;
3. An increase of at least $1,000, except with our consent.
The Face Amount of this Rider may be decreased, subject to our
approval, upon our receipt of a written request.
MONTHLY COST OF The Monthly Cost of Insurance for this Rider for the following
INSURANCE month is deducted as part of the Monthly Deduction. The
Monthly Cost of Insurance is equal to the Net Amount at Risk
for the Face Amount of this Rider times the Monthly Cost of
Insurance Rate for this Rider.
The Net Amount at Risk for the Face Amount of this Rider is
equal to:
1. The Face Amount of this Rider divided by the Monthly
Discount Factor shown on the Policy Specifications page;
less
2. Any Cash Value (before the deduction of the Monthly Cost
of Insurance for the base Policy) attributable to the
Face Amount of this Rider.
The Cash Value will be attributable to coverages in the
following order:
1. To the coverage provided by the initial Face Amount plus
any increase in Face Amount due to a Death Benefit Option
change; then
2. To the Face Amount of this Rider; and then
3. To any increase in Face Amount in the order they were
effective.
This Rider will be considered an increase to the Policy's Face
Amount when
determining the Monthly Cost of Insurance for the Policy.
MONTHLY COST OF The Monthly Cost of Insurance Rate for this benefit is based
INSURANCE RATES on the Insured's Attained Age, risk classification and sex.
Monthly Cost of Insurance Rates will be determined by us based
on expectations as to future mortality, tax, interest
earnings, expense and persistency experience. We will not
adjust such rates as a means of recovering prior losses nor as
a means of distributing prior profits. These rates will not
exceed those shown in the Table of Maximum Monthly Cost of
Insurance Rates for the Adjustable Benefit Term Rider.
Each monthly anniversary this Rider is in force, the Monthly
Cost of Insurance for this Rider (as determined above) will be
added to the Monthly Deduction as defined in the Cash Values
section of the Policy. This increased Monthly Deduction will
be used to determine the Cash Value of the Policy on such
monthly anniversary.
TERMINATION This Rider will terminate on the first of the following events
to occur:
1. The lapse of the Policy; or
2. The surrender of the Policy; or
3. The Insured's date of death; or
4. Attained Age 100 of the Insured.
The Issue Date and effective date of this Rider and the Policy are the same.
Secretary's signature President's signature
NEF logo
TABLE OF MAXIMUM MONTHLY COST OF INSURANCE RATES
PER $1,000
INSURED: JOHN DOE
COVERAGE: ADJUSTABLE BENEFIT TERM RIDER
ISSUE DATE: JANUARY 1, 2002
POLICY NUMBER: 16,000,001
ATTAINED ATTAINED
AGE RATE AGE RATE
35 71
36 72
37 73
38 74
39 75
40 76
41 77
42 78
43 79
44 80
45 81
46 82
47 83
48 84
49 85
50 86
51 87
52 88
53 89
54 90
55 91
56 92
57 93
58 94
59 95
60 96
61 97
62 98
63 99
64
65
66
67
68
69
70
THESE RATES ARE FOR THIS RIDER AT ISSUE. THEY ARE BASED ON THE 1980
COMMISSIONERS STANDARD ORDINARY MORTALITY TABLE FOR A [MALE, SMOKER].
CHILDREN'S LIFE INSURANCE RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
THE WAITING PERIODS FOR SUICIDE AND INCONTESTABILITY ARE DIFFERENT FROM THOSE IN
THE POLICY AND BEGIN ON THE ISSUE DATE OF THE RIDER.
This Rider is subject to all applicable terms and provisions of the Policy,
except as modified herein. This Rider is a part of the Policy if it is listed on
the Policy Specifications page or on the Policy Specifications page for Policy
Change. A copy of the application for this Rider is attached to and made part of
the Rider.
FACE AMOUNT The Face Amount for this Rider on each Insured Child at and
after age 6 months is the Face Amount shown for the Rider in
the Policy Specifications page, or half of that amount before
age 6 months. If the Rider is added after issue, the Policy
Specifications page for Policy Change shows the Face Amount
for the Rider.
LIFE INSURANCE We will pay the Face Amount to the Beneficiary under this
BENEFIT Rider upon the death of the Insured Child while this Rider is
in force. We must receive proof that the death occurred before
the Expiry Date of insurance on such Insured Child.
DEFINITION OF The Insured, as shown on the Policy Specifications page, is
INSURED the person whose life is covered under the Policy to which
this Rider is attached.
DEFINITION OF Any child, stepchild or legally adopted child of the Insured
INSURED CHILD is an Insured Child if named in the application for this
Rider. Any child of the Insured born after the date of the
application for this Rider will become an Insured Child at age
15 days. Any child who is legally adopted by the Insured after
the date of the application for this Rider but before the
child's 18th birthday will become an Insured Child at age 15
days or on the date of adoption, if later. Each Insured Child
will cease to be an Insured Child on the first to occur of:
1. His or her 25th birthday;
2. The Expiry Date of this Rider;
3. A conversion of the insurance provided by the Rider on
that Insured Child; or
4. The death of the Insured Child.
OWNER Unless otherwise provided, during the lifetime of the Insured,
the Owner of the Policy will be the Owner of this Rider. Upon
the death of the Insured, all such rights with respect to
insurance then in force under this Rider on the life of an
Insured Child, will, unless otherwise provided, vest in such
Insured Child.
THE BENEFICIARY The Beneficiary of any benefit payable as a result of the
death of any Insured Child will be: the Insured, if living; if
not then the estate of the person upon whose death payment is
to be made; unless: otherwise provided in the application; or
changed by you.
You may change the beneficiary designation of the insurance on
the life of
any person insured under this Rider. This change must be done
during the lifetime of such person. To make such a change you
must file a proper written request with us. This request must
be accepted by us at our Home Office or any other office
designated by us. If we accept your request, the change will
take effect as of the date of the request. This change will be
subject to any payment or action we took before we received
your written request for the change. The beneficiary
designation and any changes made will be subject to any
assignment of the Policy.
MONTHLY COST OF The Monthly Cost of Rider for the following month is charged
RIDER as part of the Monthly Deduction. The Monthly Cost of Rider
for the Children's Life Insurance Rider is:
1. The Face Amount shown for the Rider on the Policy
Specifications page or Policy Specifications page for
Policy Change divided by $1,000; times
2. The Monthly Cost of Rider Rate - Children's Term
Insurance shown on the Policy Specifications page or on
the Policy Specifications page for Policy Change
EXTRA AMOUNT OF We will provide an extra amount of insurance on an Insured
INSURANCE Child for 90 days at no extra charge when:
1. That Insured Child marries;
2. A child is born to that Insured Child; or
3. A child is legally adopted by that Insured Child.
The extra amount of insurance will be four times the Face
Amount under this Rider. On receipt of proof that that Insured
Child died within 90 days after the marriage, birth or
adoption, we will pay the extra amount to the estate of that
Insured Child. The extra insurance will expire at the end of
90 days after the marriage, birth or adoption. In no event
will the amount of extra insurance on an Insured Child be more
than four times the Face Amount if any 90-day periods overlap.
Any extra amount of insurance provided under this provision is
not convertible under the Conversion Rights provision.
PAID-UP TERM Except as provided under the Suicide Exclusion provision of
BENEFIT this Rider, if the insured's death occurs while this Rider is
in force, this Rider will be continued as if the Insured had
not died at no extra cost. This fully paid-up benefit will be
subject to the terms of this Rider. We must receive proof of
death of the Insured.
Any child who would have become an Insured Child if the
Insured's death had not occurred will become an insured child
in accordance with the provisions of this Rider.
CONVERSION The Owner may convert the term insurance in force under this
RIGHTS Rider on each Insured Child for a new policy on that Insured
Child's Date of Conversion. The Date of Conversion is the 25th
birthday of that Insured Child or, if earlier, the Expiry Date
of this Rider. An Insured Child's Date of Conversion can be
advanced to the date any extra amount of insurance on that
Insured Child expires under this Rider. The new policy will be
issued:
1. On the life of the Insured Child;
2. Without proof of insurability;
3. With a Face Amount not more than 5 times the Face Amount
of this Rider on the Insured Child;
4. Based on a standard nonsmoker risk classification or the
risk classification the issuing company determines is
closest to it if that classification is not available on
the new policy;
5. With a current Policy Date;
6. By us or by an affiliate designated by us;
7. On a plan agreed to by the issuing company;
8. At the then current age of the Insured Child as
calculated by the issuing company for that plan of
insurance;
9. Subject to payment of the first premium for the new
policy;
10. On a policy form and at rates in use by the issuing
company on the Policy Date of the new policy; and
11. Subject to any assignments and limitations to which this
Rider is subject.
The conversion may be made only with our consent if the amount
of insurance to be converted is less than the issuing
company's published minimum limits of issue.
REINSTATEMENT If this Rider lapses, you may reinstate it within three years
after the date of lapse. The Rider cannot be reinstated,
except with our consent, if more than three years have passed
since the date of lapse. To reinstate, you must submit the
following items:
1. A written application for reinstatement;
2. Proof satisfactory to us that each Insured Child is
insurable by our standards; and
3. Payment, while each Insured Child is living, of a premium
large enough to keep the Rider in force for at least
three months.
Upon Reinstatement, we will deduct any Monthly Cost of Rider
due and unpaid at the time of lapse. The Insured must be alive
on the date we approve the request for Reinstatement. If the
Insured is not alive, such approval is void and of no effect.
The reinstated rider will be in force from the date we approve
the Reinstatement application.
LIMITATIONS ON This Rider can be reinstated only if the Policy is also
REINSTATEMENT reinstated or is in force. If only a portion of the Policy
coverage is reinstated then only a portion of the Rider
coverage may also be reinstated.
INCONTESTABILITY This Rider will not be contestable after it has been in force
during the life of the Insured for two years from the Issue
Date of the Rider.
SUICIDE If the Insured dies by suicide, while sane or insane, within
EXCLUSION two years from the Issue Date of this Rider:
1. The Rider will not become paid-up under the Paid-up
Benefit provision;
2. The Rider will terminate; and
3. The Cost of Rider paid for the Rider will be included in
the policy proceeds.
INCORRECT AGE The date that coverage under this Rider ceases, expires or
terminates will
be based on the correct age of each person insured.
EXPIRATION OF The Expiry Date of this Rider is the policy anniversary
INSURANCE nearest the 65th birthday of the Insured. If this Rider has
not already expired or been cancelled, then insurance on each
Insured Child will cease on the 25th birthday of such child.
TERMINATION This Rider will terminate upon the earliest of:
1. Termination of the Policy other than by death of the
Insured;
2. The Expiry Date for the Rider; and
3. The monthly anniversary on or following receipt by us at
our Home Office or any other office designated by us of
the Owner's written request to terminate this Rider. We
may require the Policy for endorsement.
The Issue Date and effective date of this Rider and Policy are the same unless
another Issue Date is shown below. The insurance provided by this Rider will be
in force from the Issue Date of the Rider.
_____________
Issue Date
CONVERTIBLE SUPPLEMENTAL COVERAGE TERM RIDER
ISSUED BY NEW ENGLAND INSURANCE COMPANY
This Rider is subject to all applicable terms and provisions of the Policy,
except as modified herein. This Rider is a part of the Policy if it is listed on
the Policy Specifications page. A copy of the application for this Rider is
attached to and made a part of the Rider.
FACE AMOUNT The Face Amount of this Rider is shown on the Policy
Specifications page.
LIFE INSURANCE This Rider provides convertible term life insurance on the
BENEFIT life of the Insured shown on the Policy Specifications page.
We will pay the Face Amount of this Rider to the Beneficiary
as part of the Policy Proceeds if the Insured dies while this
Rider is in force.
MONTHLY COST OF The Monthly Cost of Insurance for the following month is
INSURANCE charged as part of the Monthly Deduction. The Monthly Cost of
Insurance is the Monthly Cost of Insurance Rate for this Rider
times the Face Amount of this Rider divided by 1,000.
MONTHLY COST OF The Monthly Cost of Insurance Rate for this benefit is based
INSURANCE RATES on the Insured's Attained Age, Risk Classification, sex and
completed policy years from the Issue Date. Monthly Cost of
Insurance Rates will be determined by us based on our
expectations as to future mortality, tax, interest earnings,
expense and persistency experience. We will not adjust such
rates as a means of recovering prior losses nor as a means of
distributing prior profits. These rates will not exceed those
shown in the Table of Maximum Monthly Cost of Insurance Rates
for the Convertible Supplemental Coverage Term Rider.
DECREASES IN After the first policy year, the Face Amount of this Rider may
RIDER FACE be decreased by sending us a written request.
AMOUNT
Any requested decrease in the Rider's Face Amount will be
subject to the following conditions:
1. The decrease will become effective on the monthly
anniversary on or following our receipt of the request at
our Home Office or any other office designated by us;
2. The Face Amount after the decrease may not be less than
$10,000; and
3. Any decrease must be at least the Minimum Face Amount
Decrease as shown on the Policy Specifications page.
CONVERSION After the first policy year, the Owner can, before the policy
RIGHTS anniversary on which the Insured is Attained Age 80, convert
any portion of this Rider to: a new policy; or an increase in
Face Amount for the Policy:
1. If the Attained Age of the Insured meets the issuing
company's issue age requirements on the date of the
conversion; and
2. If the issuing company's underwriting class requirements
on the date of the conversion can be met.
CONVERSION TO A If the conversion is to a new policy, the new policy will be
NEW POLICY issued:
1. Without proof of insurability;
2. With the same Insured as this Rider;
3. With the same underwriting class as this Rider, or the
class we determine is closest to it if the class of this
Rider is not offered on the new policy;
4. With a current Policy Date;
5. With a Face Amount equal to the amount of term insurance
being converted;
6. By us or by an affiliate designated by us;
7. On a plan agreed to by the issuing company;
8. At the then current age of the Child as calculated by the
issuing company for that plan of insurance;
9. On a policy form and at rates in use by the issuing
company on the Policy Date of the new policy;
10. Subject to any assignments and limitations to which this
Rider is subject; and
11. Subject to payment of the first premium for the new
policy.
12. The conversion can be made only with our consent if:
a. The amount of term insurance you want to convert is
less than the issuing company's published minimum
limits of issue; or
b. Any rider is to be attached to the new policy.
The Contestable and Suicide periods of the new policy will be
measured from the Issue Date of this Rider.
CONVERSION TO If the conversion is to an increase in Face Amount, any
AN INCREASE IN increase in Face Amount is subject to:
FACE AMOUNT
1. New insurance for the amount of the increase on the same
plan at the Attained Age of the Insured on the date of
the conversion being allowed under the underwriting rules
of the issuing company;
2. The amount of the increase being at least the Minimum
Face Amount Increase shown on the Policy Specifications
page, except with our consent; and
3. A Monthly Deduction for that increase.
An increase will be effective on the date shown in the Policy
Specifications page for Policy Change.
The Contestable and Suicide periods of the increase in Face
Amount will be measured from the Issue Date of this Rider.
TERMINATION This Rider will terminate on the first of the following events
to occur:
1. The lapse of the Policy;
2. The surrender of the Policy;
3. The Insured's date of death;
4. A conversion of the entire Face Amount of the Rider to
new insurance;
5. Attained Age 100 of the Insured; or
6. The monthly anniversary on or following receipt by us at
our Home Office or any other office designated by us of
your written request to terminate this Rider. We may
require the Policy for endorsement.
The Issue Date and effective date of this Rider and the Policy are the same.
TABLE OF MAXIMUM MONTHLY COST OF INSURANCE RATES
PER $1,000
INSURED: JOHN DOE
COVERAGE:CONVERTIBLE SUPPLEMENTAL COVERAGE TERM RIDER
RIDER ISSUE DATE: JANUARY 1, 2002
POLICY NUMBER: 16,000,001
ATTAINED ATTAINED
AGE RATE AGE RATE
35 0.2192 71 4.9242
36 0.2342 72 5.3608
37 0.2533 73 5.8525
38 0.2750 74 6.3883
39 0.3000 75 6.9808
40 0.3283 76 7.5917
41 0.3617 77 8.2100
42 0.3958 78 8.8258
43 0.4350 79 9.4575
44 0.4758 80 10.1325
45 0.5225 81 10.8675
46 0.5692 82 11.6833
47 0.6200 83 12.5858
48 0.6733 84 13.5408
49 0.7333 85 14.5167
50 0.7967 86 15.4817
51 0.8700 87 16.4217
52 0.9517 88 17.4475
53 1.0450 89 18.4600
54 1.1500 90 19.4742
55 1.2617 91 20.5100
56 1.3825 92 21.6108
57 1.5075 93 23.0250
58 1.6408 94 24.8458
59 1.7792 95 27.4967
60 1.9325 96 32.0458
61 2.1050 97 40.0167
62 2.2992 98 54.8317
63 2.5192 99 83.3333
64 2.7617
65 3.0242
66 3.2975
67 3.5842
68 3.8792
69 4.1933
70 4.5400
THESE RATES ARE FOR THIS RIDER AT ISSUE. THEY ARE BASED ON THE 1980
COMMISSIONERS STANDARD ORDINARY MORTALITY TABLE FOR A [MALE, SMOKER].
EXCHANGE TO TERM INSURANCE ENDORSEMENT
As of the Issue Date, this Endorsement is a part of the Policy and is subject to
all applicable terms and provisions except as modified herein.
EXCHANGE OF You can exchange this Policy for a policy which provides fixed
POLICY FOR benefit term insurance:
TERM INSURANCE
1. If the Policy has not lapsed;
2. If the Policy is in force under a corporate plan of
deferred compensation;
3. If the purchase of insurance under the plan was not at
the option of the Insured; and
4. If the exchange is made within three years of the Policy
Date of the Policy.
The new policy:
1. Will be issued by us or by an affiliate designated by us;
2. Will have the same Insured as this Policy;
3. Will have a Face Amount equal to the amount of coverage
being exchanged; and
4. Will be on a plan agreed to by the issuing company.
The new policy will have the same Issue Age and Policy Date as
this Policy.
This Policy will terminate after an exchange. The exchange
will be subject to: an application to exchange the Policy; and
proof that the Insured is then insurable. An exchange credit
will be paid to you. The credit will be quoted by us on
request.
A detailed statement of the method of computing the exchange
credit has been filed, where required, with the Insurance
Department of the state in which the Policy is delivered.
If you surrender this Policy for its Cash Surrender Value at a
time when this Exchange of Policy for Term Insurance would
have been available, we will automatically pay an amount equal
to the exchange credit in lieu of the Cash Surrender Value if
we determine that the exchange credit would be greater.
OPTIONS TO PURCHASE ADDITIONAL LIFE INSURANCE RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
This Rider is subject to all applicable terms and provisions of the Policy,
except as modified herein. If this Rider is listed on the Policy Specifications
page it is a part of the Policy. A copy of the application for this Rider is
attached to and made a part of the Rider.
PURCHASE OF Additional life insurance can be purchased on each Purchase
ADDITIONAL Option Date shown on the Options to Purchase Additional Life
LIFE INSURANCE Insurance Rider Schedule. The additional insurance can be: an
increase in Face Amount for the Policy; or a new policy. (See
the Increase in Face Amount and The New Policy provisions
below.) Application for the additional insurance must be in
writing, signed by the Owner and by the Insured and received
at our Home Office or any other office designated by us within
60 days of the Purchase Option Date.
MAXIMUM OPTION The Maximum Option Amount is the maximum amount of additional
AMOUNT life insurance that can be purchased on each Purchase Option
Date subject to the Maximum Total Option Amount below. The
Maximum Option Amount is shown on the Options to Purchase
Additional Life Insurance Rider Schedule. You may purchase
less than the Maximum Option Amount on any Purchase Option
Date. Any portion of the Maximum Option Amount not purchased
within 60 days of a Purchase Option Date will be forfeited.
MAXIMUM TOTAL The Maximum Total Option Amount is the lesser of:
OPTION AMOUNT
1. The number of Purchase Option Dates shown on the Options
to Purchase Additional Life Insurance Rider Schedule
times the Maximum Option Amount shown on the Options to
Purchase Additional Life Insurance Rider Schedule; and
2. $1,000,000.
PURCHASE The Purchase Option Dates are shown on the Options to Purchase
OPTION DATES Additional Life Insurance Rider Schedule.
ADVANCEMENT OF After the second rider year, at your election, the next
PURCHASE OPTION available Purchase Option Date can be advanced to the date on
DATES which any of the following events occurs:
1. A child is born to the Insured; or
2. A child under 21 is legally adopted by the Insured; or
3. A home or other real estate is purchased by the Insured;
or
4. The Insured marries; or
5. The Insured divorces; or
6. The Insured's Spouse dies.
Proof, satisfactory to us, of the event may be required prior
to advancement.
INCREASE IN The increase will take effect on the Purchase Option Date
FACE AMOUNT subject to the Change in Face Amount provision in your Policy,
except that proof of
insurability will not be required and the increase will not be
subject to the Maximum Face Amount Increase Administration
Charge. The underwriting class for the increase in Face Amount
will be based on the Underwriting Class Basis for Purchase
Options shown in the Options to Purchase Additional Life
Insurance Rider Schedule.
The Contestable and Suicide periods of each increase issued
under this Rider will be measured from the Issue Date of this
Rider.
THE NEW POLICY The new policy will be issued:
1. With the same Insured as this Rider;
2. With the same underwriting class as the Underwriting
Class Basis for Purchase Options shown in the Options to
Purchase Additional Life Insurance Rider Schedule for
this Rider or the class we determine is the closest to it
if that class is not offered on the new policy;
3. Subject to any assignments and limitations to which this
Rider is subject;
4. By us or by an affiliate designated by us;
5. On a plan agreed to by the issuing company;
6. At the then current age of the Insured as calculated for
that plan of insurance by the issuing company;
7. On a policy form and at premium rates in use by the
issuing company on the Policy Date of the new policy; and
8. With a Policy Date and Issue Date the same as the
Purchase Option Date.
The new policy will take effect on the Purchase Option Date:
1. During the life of the Insured; and
2. Not later than 60 days after the Purchase Option Date.
The Contestable and Suicide periods of each new policy issued
under this Rider will be measured from the Issue Date of this
Rider. Riders can be attached to a new policy only with our
consent.
MONTHLY COST The Monthly Cost of Rider for the following month is charged
OF RIDER as part of the Monthly Deduction. The Monthly Cost of Rider is
the Guaranteed Monthly Cost of Rider Charge shown on the
Options to Purchase Additional Life Insurance Rider Schedule.
TERMINATION This Rider will terminate upon the earliest of:
1. Termination of the Policy other than by death;
2. Upon death of the Insured;
3. When the total amount of coverage issued under this Rider
equals the Maximum Total Option Amount;
4. 60 days after the final Purchase Option Date; and
5. The monthly anniversary on or following receipt by us at
our Home Office or any other office designated by us of
your written request to terminate this
Rider. We may require the Policy for endorsement.
The Issue Date and effective date of this Rider and Policy are the same.
OPTIONS TO PURCHASE ADDITIONAL LIFE INSURANCE
RIDER SCHEDULE
INSURED NAME: [JOHN DOE]
ISSUE DATE: [NOVEMBER 1, 2001]
AGE: [35]
MAXIMUM OPTION AMOUNT: [$50,000]
POLICY NUMBER: [16,000,001]
UNDERWRITING CLASS BASIS FOR PURCHASE OPTIONS: [SMOKER STANDARD]
GUARANTEED MONTHLY COST OF RIDER CHARGE: [$5.20]
PURCHASE OPTION DATES: [11/01/2006]
[11/01/2011]
[11/01/2016]
SECONDARY GUARANTEE RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
If this Rider is listed on the Policy Specifications page, it is part of the
Policy. This Rider is subject to all applicable terms and provisions of the
Policy, except as modified herein. A copy of the application for this Rider is
attached to and made part of the Rider.
SECONDARY If, on a Monthly Anniversary day prior to the Secondary
GUARANTEE Guarantee Date, shown on the Policy Specifications page:
BENEFIT
1. The sum of all premiums paid on this Policy; less
2. Any partial withdrawals; less
3. Any outstanding loan and loan interest; less
4. Any pro rata surrender.
is greater than or equal to the sum of the Secondary Guarantee
Premium for each Monthly Anniversary since the Policy Date,
this Policy will not lapse even if Your Cash Surrender Value
is not sufficient to cover the Monthly Deduction on a Monthly
Anniversary day.
DEATH BENEFIT The Death Benefit is the greater of:
1. The Face Amount of the Policy including any increases; or
2. The Death Benefit otherwise provided by the Policy
including any increases.
Notwithstanding anything in this Policy, the Death Benefit
will in no case be less than the amount necessary to cause the
Policy to meet the requirements for the definition of life
insurance under the Internal Revenue Code of 1986 or any
applicable successor.
COST OF RIDER The monthly Cost of Rider is the monthly Cost of Rider Rate
shown on the Policy Specifications page, divided by 1000,
multiplied by 1 below plus the difference between 2 and 3
below:
1. The Face Amount of any term rider not included in the
Policy's Death Benefit; plus
2. An amount as follows:
DEATH BENEFIT OPTION A: The greater of:
a. The Face Amount divided by the Monthly Discount
Factor shown on the Policy Specifications page; or
b. The Policy's Cash Value at the beginning of the
Policy month, multiplied by the Attained Age Factor
as shown on the Table of Corridor Factors
DEATH BENEFIT OPTION B: The greater of:
a. The Face Amount divided by the Monthly Discount
Factor shown on the Policy Specifications page plus
the Policy's Cash Value at the beginning of the
Policy month; or
b. The Policy's Cash Value at the beginning of the
Policy Month, multiplied by the Attained Age Factor
as shown on the Table of Corridor Factors
3. The Policy's Cash Value at the beginning of the Policy
month, before the deduction of the monthly Cost of this
Rider.
POLICY CHANGES The Secondary Guarantee Premium may change if any of the
following events occur prior to the Secondary Guarantee Date
shown on the Policy Specifications page:
1. A change in the Policy's Face Amount;
2. The addition of or an increase to a rider attached to
this Policy;
3. A change in risk classification of the Insured; or
4. A change in death benefit option.
The Secondary Guarantee Date will not change.
GUARANTEE GRACE If on a Monthly Anniversary day prior to the Secondary
PERIOD Guarantee Date, the sum of all premiums paid on this Policy,
reduced by any partial withdrawals, pro rata surrenders and
any outstanding Loan and loan interest, is less than the sum
of the Secondary Guarantee Premiums for each monthly
anniversary since the Policy Date, then the Guarantee Grace
Period of 62 days will be allowed for the payment of a premium
sufficient to keep this Rider in force. The Secondary
Guarantee Date and the Secondary Guarantee Premium are shown
on the Policy Specifications page.
Notice of the amount of premium required to be paid to keep
this Rider in force will be sent at the beginning of the
Guarantee Grace Period to the last known address of the Owner
and of any assignee of record. If We do not receive the
premium required by the end of the Guarantee Grace Period,
this Rider will terminate and the guarantee provided by this
Rider will no longer be in effect. If the premium requirement
is not met and death occurs during the Guarantee Grace Period,
there is no deduction of the Rider premium required from the
Death Benefit.
MISSTATEMENT OF If there is a misstatement of age or sex in the application
AGE OR SEX and such determination is made prior to the death of the
Insured and while this Rider is in effect, then the Secondary
Guarantee Premium will be that amount which corresponds to the
Face Amount, as adjusted under the Policy, using the correct
age and/or sex. The Secondary Guarantee Date will change based
on the correct age.
SECONDARY The date the Secondary Guarantee Rider expires. This date is
GUARANTEE DATE shown on the Policy Specifications page.
SECONDARY The premium required to keep the Secondary Guarantee Rider in
GUARANTEE force. This premium is shown on the Policy Specifications
PREMIUM page.
PREMIUM We will restrict any premium payment that would cause the
LIMITATIONS Policy to fail the definition of life insurance as defined by
Section 7702 of the Internal
Revenue Code of 1986 or any applicable successor. This
limitation will not cause this Rider to terminate. We will not
restrict payment of any premium, which is required to maintain
this Rider in force because such payment will cause the Death
Benefit to increase by an amount that exceeds the premium
received.
REINSTATEMENT If this Rider terminates it may not be reinstated.
TERMINATION This Rider will terminate on the first of the following events
to occur:
1. The death of the Insured;
2. The date of termination of the Policy to which this Rider
is attached;
3. The end of the Guarantee Grace Period following Our
notice to You that the premium requirement was not met;
4. The Secondary Guarantee Date shown on the Policy
Specifications page;
5. The date a Change of Insured, on the Policy to which this
Rider is attached, is executed.
6. The date a term rider on the life of someone other than
the Insured is added if the Death Benefit Option chosen
for the Policy is the Guideline Premium Test. or
7. The monthly anniversary on or following receipt by us at
our Home Office or any other office designated by us of
your written request to terminate this Rider. We may
require the Policy for endorsement.
CONTINUATION OF Once this Rider has terminated, the base Policy may continue
INSURANCE in accordance with the provisions of the base Policy but
without the benefit provided by this Rider.
The Issue Date and the effective date of this Rider and the Policy are the same.
Secretary's signature President's signature
NEF logo
SUPPLEMENTAL COVERAGE TERM RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
This Rider is subject to all applicable terms and provisions of the Policy,
except as modified herein. This Rider is a part of the Policy if it is listed on
the Policy Specifications page. A copy of the application for this Rider is
attached to and made a part of the Rider.
FACE AMOUNT The Face Amount of this Rider is shown on the Policy
Specifications page.
LIFE INSURANCE This Rider provides non-convertible term life
BENEFIT insurance on the life of the Insured shown on the
Policy Specifications page. We will pay the Death
Benefit of this Rider to the Beneficiary if the
Insured dies while this Rider is in force.
The Death Benefit provision in the Policy is modified
so that where it states "Face Amount" it means the
Policy's Face Amount plus this Rider's Face Amount.
MONTHLY COST OF The Monthly Cost of Insurance for the following month
INSURANCE is charged as part of the Monthly Deduction. The
Monthly Cost of Insurance is equal to the Net Amount
at Risk for the Face Amount of the Rider times the
Monthly Cost of Insurance Rate for the Rider.
The Net Amount at Risk for the Face Amount of this
Rider is equal to:
1. The Face Amount of this Rider divided by the
Monthly Discount Factor shown on the Policy
Specifications page; less
2. Any Cash Value (before the deduction of the
Monthly Cost of Insurance for the base Policy)
attributable to the Face Amount of the Rider.
The Cash Value will be attributable to coverages in
the following order:
1. To the coverage provided by the initial Face
Amount plus any increase in Face Amount due to a
Death Benefit Option change plus all Adjustable
Benefit Term Rider Face Amount increases; then
2. To the Face Amount of this Rider; and then
3. To any increase in Face Amount in the order they
were effective.
MONTHLY COST OF The Monthly Cost of Insurance Rate for this benefit
INSURANCE RATES is based on the Insured's Attained Age, Risk
Classification, sex and completed policy years from
the Issue Date. Monthly Cost of Insurance Rates will
be determined by us based on our expectations as to
future mortality, tax, interest earnings, expense and
persistency experience. We will not adjust such rates
as a means of recovering prior losses nor as a means
of distributing prior profits. These rates will not
exceed those shown in the Table of Maximum Monthly
Cost of Insurance Rates for the Supplemental Coverage
Term Rider.
DECREASES IN After the first policy anniversary, the Face Amount
RIDER FACE of this Rider may be decreased by sending us a
AMOUNT written request.
Any requested decrease in the Rider's Face Amount
will be subject to the following conditions:
1. The decrease will become effective on the monthly
anniversary on or following our receipt of the
request at our Home Office or any other office
designated by us; and
2. Any decrease must be at least the Minimum Face
Amount Decrease as shown on the Policy
Specifications page.
If you request a change in Death Benefit Option, this
Rider's Face Amount may be decreased. (See the Change
in Death Benefit Option provision in your Policy.)
If you request a partial withdrawal, this Rider's
Face Amount may be decreased. (See the Partial
Withdrawal provision in your Policy.)
TERMINATION This Rider will terminate on the first of the
following events to occur:
1. The lapse of the Policy;
2. The surrender of the Policy;
3. The Insured's date of death;
4. A decrease in Face Amount that causes this Rider's
Face Amount to go to zero;
5. The monthly anniversary on or following receipt by
us at our Home Office or any other office
designated by us of your written request to
terminate this Rider. We may require the Policy
for endorsement; and
6. Attained Age 100 of the Insured.
The Issue Date and effective date of this Rider and the Policy are the same.
TABLE OF MAXIMUM MONTHLY COST OF INSURANCE RATES
PER $1,000
INSURED: JOHN DOE
COVERAGE: SUPPLEMENTAL COVERAGE TERM RIDER
RIDER ISSUE DATE: JANUARY 1, 2002
POLICY NUMBER: 16,000,001
ATTAINED ATTAINED
AGE RATE AGE RATE
35 0.2192 71 4.9242
36 0.2342 72 5.3608
37 0.2533 73 5.8525
38 0.2750 74 6.3883
39 0.3000 75 6.9808
40 0.3283 76 7.5917
41 0.3617 77 8.2100
42 0.3958 78 8.8258
43 0.4350 79 9.4575
44 0.4758 80 10.1325
45 0.5225 81 10.8675
46 0.5692 82 11.6833
47 0.6200 83 12.5858
48 0.6733 84 13.5408
49 0.7333 85 14.5167
50 0.7967 86 15.4817
51 0.8700 87 16.4217
52 0.9517 88 17.4475
53 1.0450 89 18.4600
54 1.1500 90 19.4742
55 1.2617 91 20.5100
56 1.3825 92 21.6108
57 1.5075 93 23.0250
58 1.6408 94 24.8458
59 1.7792 95 27.4967
60 1.9325 96 32.0458
61 2.1050 97 40.0167
62 2.2992 98 54.8317
63 2.5192 99 83.3333
64 2.7617
65 3.0242
66 3.2975
67 3.5842
68 3.8792
69 4.1933
70 4.5400
THESE RATES ARE FOR THIS RIDER AT ISSUE. THEY ARE BASED ON THE 1980
COMMISSIONERS STANDARD ORDINARY MORTALITY TABLE FOR A [MALE, SMOKER].
TEMPORARY TERM INSURANCE RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
TERM We agree that the Policy and its Riders will be in
INSURANCE force as temporary term insurance from the Issue Date
BENEFIT to the Policy Date. During that period the amounts of
insurance under the Policy and its Riders will be the
same as the amounts on the Policy Date.
During the temporary term insurance period the Policy
will have no cash or loan value.
This Rider is made a part of the Policy to which it
is attached if the Rider is listed on the Policy
Specifications page.
The premium for this Rider is due on the Issue Date
in the amount shown on the Policy Specifications
page.
TERM INSURANCE ON COVERED INSURED RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
THE WAITING PERIODS FOR SUICIDE AND INCONTESTABILITY ARE DIFFERENT FROM THOSE IN
THE POLICY AND BEGIN ON THE ISSUE DATE OF THE RIDER.
This Rider is subject to all applicable terms and provisions of the Policy,
except as modified herein. This Rider is a part of the Policy if it is listed on
the Policy Specifications page or on the Policy Specifications page for Policy
Change. A copy of the application for this Rider is attached to and made part of
the Rider.
FACE AMOUNT The Face Amount for this Rider is the amount shown on
the Table of Maximum Monthly Cost of Rider Rates per
$1,000.
LIFE INSURANCE If the Covered Insured dies while this Rider is in
BENEFIT force, the Face Amount of the Rider will be paid in
one sum to the Beneficiary of the Rider.
COVERED INSURED The Covered Insured is named in the application for
this Rider.
OWNER OF THIS The Owner of this Rider is the Owner of the Policy
RIDER and cannot be changed.
MONTHLY COST OF RIDER The Monthly Cost of Rider for the following month is
charged as part of the Monthly Deduction. The Monthly
Cost of Rider is the Monthly Rate shown on the Table
of Maximum Monthly Cost of Rider Rates per $1,000
times the Face Amount of this Rider divided by 1,000.
MONTHLY COST OF The rates for the Rider are set by us each year on
RIDER RATES the rider anniversary, based on our expectations as
to future mortality, tax, interest earnings, expense
and persistency experience. The rates for the Rider
will never be more than the rates shown in the Table
of Maximum Monthly Cost of Rider Rates per $1,000.
DECREASE IN RIDER After the first policy year, the Face Amount of this
FACE AMOUNT Rider can be decreased by sending us a written
request; but only if the Face Amount of the Rider
after the decrease is at least $50,000, except with
our consent. The decrease will become effective on
the monthly anniversary on or following receipt of
the request by us at our Home Office or any other
office designated by us. Upon a decrease, the new
Face Amount will be shown on the Policy
Specifications page for Policy Change.
REINSTATEMENT If this Rider lapses, you may reinstate it within
three years after the date of lapse. The Rider cannot
be reinstated, except with our consent, if more than
three years have passed since the date of lapse. To
reinstate, you must submit the following items:
1. A written application for Reinstatement;
2. Proof satisfactory to us that the Covered Insured
is insurable by our standards; and
3. Payment, while the Covered Insured is living, of a
premium large enough to keep the Rider in force
for at least three months.
Upon Reinstatement, we will deduct any monthly Cost
of Rider due and unpaid at the time of lapse. The
Insured must be alive on the date we approve the
request for Reinstatement. If the Insured is not
alive, such approval is void and of no effect.
The reinstated rider will be in force from the date
we approve the Reinstatement application.
LIMITATIONS ON This Rider can be reinstated only if the Policy is
REINSTATEMENT also reinstated or is in force. If only a portion of
the Policy coverage is reinstated then only a portion
of the Rider coverage may also be reinstated.
CONVERSION PRIVILEGE The Owner may, before the rider anniversary on which
the Covered Insured is Attained Age 65, or if later,
prior to the end of the fifth rider year, convert any
portion of the insurance then in force under this
Rider for a new policy. Except with our consent, any
Face Amount of the Rider that will remain after a
conversion must be at least $50,000. The new policy
will be issued:
1. On the life of the Covered Insured;
2. Without proof of insurability;
3. With a Face Amount equal to the amount of term
insurance being converted;
4. With the same underwriting class as this Rider, or
the class we determine is closest to it if the
class of this Rider is not offered on the new
policy;
5. With a current Policy Date;
6. By us or by an affiliate designated by us;
7. On a plan agreed to by the issuing company;
8. At the then current age of the Covered Insured as
calculated by the issuing company for that plan of
insurance;
9. Subject to payment of the first premium for the
new policy;
10. On a policy form and at premium rates in use by
the issuing company on the Policy Date of the new
policy; and
11. Subject to any assignments and limitations to
which this Rider is subject.
The conversion may be made only with our consent if:
1. The amount of term insurance you want to convert
is less than the issuing company's published
minimum limits of issue; or
2. Any rider is to be attached to the new policy.
INCONTESTABILITY The insurance issued under this Rider will not be
contestable after it has been in force during the
life of the Covered Insured for two years from the
Issue Date of the Rider.
SUICIDE EXCLUSION If the Covered Insured dies by suicide, while sane or
insane, within two years from the Issue Date of this
Rider:
1. The Face Amount will not be paid;
2. The Rider will terminate; and
3. The Monthly Deductions paid for the Rider will be
paid in one sum to the Beneficiary of the Rider.
MISSTATEMENT OF AGE If the age or sex of the Covered Insured has not been
OR SEX OF COVERED correctly stated in the application, the Death
INSURED Benefit for this Rider will be corrected. The Death
Benefit will be that which the most recent Monthly
Deduction for the Rider would have purchased for the
correct age or sex.
TERMINATION This Rider will terminate upon the earliest of:
1. The conversion of the entire Face Amount of the
Rider to a new policy;
2. The lapse of the Policy;
3. The surrender of the Policy;
4. The Insured's date of death;
5. The Expiry Date shown for the Rider in the Table
of Maximum Monthly Cost of Rider Rates per $1,000
for the Term Insurance on Covered Insured Rider;
and
6. The monthly anniversary on or following
receipt by us at our Home Office or any other
office designated by us of your written request to
terminate this Rider. We may require the Policy
for endorsement.
The Issue Date and effective date of this Rider and the Policy are the same
unless another Issue Date is shown below. The insurance provided by this Rider
will be in force from the Issue Date of the Rider.
- -----------------
Issue Date
TABLE OF MAXIMUM MONTHLY COST OF RIDER RATES
PER $1,000
COVERED INSURED: JOHN DOE
COVERAGE: TERM INSURANCE ON COVERED INSURED RIDER
ISSUE AGE: 35 RIDER ISSUE DATE: FEBRUARY 1, 2002
RISK CLASSIFICATION: STANDARD SMOKER RIDER EXPIRY DATE: JANUARY 1, 2067
POLICY NUMBER: 16,000,001 SEX: MALE
ATTAINED ATTAINED
AGE RATE AGE RATE
35 0.2192 71 4.9242
36 0.2342 72 5.3608
37 0.2533 73 5.8525
38 0.2750 74 6.3883
39 0.3000 75 6.9808
40 0.3283 76 7.5917
41 0.3617 77 8.2100
42 0.3958 78 8.8258
43 0.4350 79 9.4575
44 0.4758 80 10.1325
45 0.5225 81 10.8675
46 0.5692 82 11.6833
47 0.6200 83 12.5858
48 0.6733 84 13.5408
49 0.7333 85 14.5167
50 0.7967 86 15.4817
51 0.8700 87 16.4217
52 0.9517 88 17.4475
53 1.0450 89 18.4600
54 1.1500 90 19.4742
55 1.2617 91 20.5100
56 1.3825 92 21.6108
57 1.5075 93 23.0250
58 1.6408 94 24.8458
59 1.7792 95 27.4967
60 1.9325 96 32.0458
61 2.1050 97 40.0167
62 2.2992 98 54.8317
63 2.5192 99 83.3333
64 2.7617
65 3.0242
66 3.2975
67 3.5842
68 3.8792
69 4.1933
70 4.5400
THESE RATES ARE FOR THIS RIDER WITH THE ABOVE ISSUE DATE. THEY ARE BASED ON THE
1980 COMMISSIONERS STANDARD ORDINARY MORTALITY TABLE FOR A [MALE, SMOKER].
WAIVER OF MONTHLY DEDUCTION RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
THE WAITING PERIOD FOR INCONTESTABILITY IS DIFFERENT FROM THAT IN THE POLICY AND
BEGINS ON THE ISSUE DATE OF THIS RIDER.
This Rider is subject to all applicable terms and provisions of the Policy,
except as modified herein. This Rider is a part of the Policy if it is listed on
the Policy Specifications page or on the Policy Specifications page for Policy
Change. A copy of the application for this Rider is attached to and made part of
the Rider.
WAIVER OF MONTHLY We will waive the Monthly Deductions for this Policy
DEDUCTION BENEFIT if:
1. You furnish us with written proof that the Insured
is totally disabled, as defined in this Rider;
2. The Insured becomes disabled after age 5 and
before age 65;
3. Disability has continued without interruption for
at least six months; and
4. This Rider is in force.
Monthly Deductions for this Policy will be waived as
follows:
Disability Beginning Before Age 60. If the Insured's
disability begins before age 60, we will waive
Monthly Deductions which were due during the six
months of uninterrupted disability. After that, we
will continue to waive Monthly Deductions. However,
the Insured must continue to be totally disabled.
Disability Beginning Between Ages 60 and 65. If the
Insured's disability begins on or after age 60 but
before age 65, we will waive Monthly Deductions which
were due during the six months of uninterrupted
disability. We will continue to waive Monthly
Deductions after that, but no later than age 65.
However, the Insured must continue to be totally
disabled.
DEFINITION OF AGE 5, "Age 5," "Age 60," and "Age 65" begin on the policy
AGE 60, AND AGE 65 anniversary nearest the Insured's 5th, 60th, and 65th
birthdays, respectively.
INCREASE IN WAIVER Coverage under this Rider can be increased, subject
COVERAGE to our underwriting rules, if the Face Amount of the
Policy is increased and if the Insured is not totally
disabled. The increase in waiver coverage is subject
to:
1. The terms for a requested increase in Face Amount
as stated in the Change in Face Amount provision
of the Policy;
2. Our limits for Waiver of Monthly Deduction
benefits; and
3. An increase in the cost of Rider.
Application to increase the Face Amount of the Policy
will also be deemed to be application to increase
waiver coverage under this Rider, unless otherwise
stated.
COST OF RIDER The monthly Cost of Rider is the monthly Cost of
Rider Rate times the Policy's Monthly Deduction not
including the cost of this Rider.
The Cost of Rider Rate for this benefit is based on
the Insured's Attained Age. Each monthly anniversary
this Rider is in force, the monthly Cost of Rider (as
determined above) will be added to the Monthly
Deduction as defined in the Cash Values section of
the Policy. This increased Monthly Deduction will be
used to determine the Cash Value of the Policy on
such monthly anniversary.
TOTAL DISABILITY "Total Disability" means the inability of the Insured
to perform the substantial and material duties of his
or her regular occupation. Such disability must be
the result of an accidental bodily injury or a
sickness. The injury or sickness must first manifest
itself after the Issue Date of this Rider.
However, after this period of disability has
continued for 60 months, the Insured will be
considered to be totally disabled only if he or she
is unable to perform the substantial and material
duties of any occupation for which he or she is
reasonably fitted by education, training or
experience.
If after this Rider becomes effective, the Insured
suffers the total and irrecoverable loss of:
1. The sight in both eyes;
2. The use of both hands or both feet; or
3. The use of one hand and one foot.
this will be considered total disability as defined
in this Rider. Upon such a loss the Insured will
still be considered disabled even though working at
an occupation
RECURRENT TOTAL If, while the Policy and Rider are in force, the
DISABILITY Insured becomes disabled again after having been
totally disabled before, the new disability will be
considered a continuation of the previous period
unless:
1. It is due to an entirely different cause; or
2. The Insured has performed all of the material
and substantial duties of a gainful occupation
for a continuous period of six months or more
between such periods of total disability.
RISKS NOT ASSUMED We will not waive Monthly Deductions under this Rider
if disability results from war or any act of war
while the Insured is in the military, naval or air
forces of any country at war. We will also not waive
Monthly Deductions if the Insured becomes disabled
while in a civilian non-combatant unit serving with
such forces. "War" includes undeclared war and "any
country" includes any international organization or
combination of countries.
NOTICE OF CLAIM AND Before we waive any Monthly Deductions, we must
PROOF OF DISABILITY receive the following at our Home Office or any other
office designated by us:
1. Written notice of claim for this benefit during
the lifetime of the Insured. This notice must be
submitted during the continuance of total
disability. This notice must be submitted no later
than six months after this Rider terminates; and
2. Written proof of total disability within six
months after we receive written notice of claim.
In no event should this proof be submitted later
than the
date when any of the following events first
occurs:
a. One year after age 65 of the Insured;
b. Surrender of the Policy; and
c. One year from the due date of the first unpaid
Monthly Deduction.
Failure to give such notice and proof within the time
allowed will not void the claim. We will consider the
claim if you show us that it was not reasonably
possible to file notice and proof on time. However,
you must file notice and proof as soon as reasonably
possible. In no event will any Monthly Deduction be
waived or refunded if its due date was more than one
year before we received notice of claim at our Home
Office or any other office designated by us.
We will require no further proof of disability and we
will automatically waive all further Monthly
Deductions if:
1. The Insured is totally disabled at age 65; and
2. All Monthly Deductions for at least the five years
preceding age 65 have been waived.
EXAMINATION OF THE We have the right to have the Insured examined by our
INSURED AND PROOF OF appointed examiner. Such exam will be at our expense.
CONTINUED DISABILITY
We also have the right to require written proof of
continuance of disability from the Insured at the
following times:
1. After receipt of notice of claim;
2. At reasonable intervals within two years after we
receive proof of total disability; and
3. Not more than once each year after the first two
years.
We will not waive any further Monthly Deductions if
the Insured refuses to be medically examined. Nor
will we waive further Monthly Deductions if proof of
continuance of disability is not furnished when we
request it.
INCONTESTABILITY We cannot contest this Rider after it has been in
force during the lifetime of the Insured, excluding
any period the Insured is totally disabled:
1. With respect to the original waiver coverage under
this rider, for two years from the Issue Date of
this Rider; and
2. With respect to each increase in waiver coverage
under this Rider, for two years from the effective
date of each increase in face amount under the
Policy.
GENERAL PROVISIONS If the Insured becomes totally disabled during the
Grace Period and becomes eligible for the Waiver of
Monthly Deduction Benefit, we will waive the Monthly
Deductions that were due during the Grace Period.
However, you will be liable for any Monthly
Deductions that were due prior to the
Grace Period.
TERMINATION This Rider will terminate on the first of the
following events to occur:
1. Attained Age 65 of the Insured. This will be
without prejudice to any benefits granted for
total disability occurring before age 65;
2. The date the Policy lapses;
3. The date the Policy is surrendered;
4. The date of death of the Insured;
5. The date an increase in Face Amount of the Policy
which does not qualify for an increase in coverage
under this Rider;
6. The date a Waiver of Specified Premium Rider is
added to the Policy to which this Rider is
attached; or
7. The monthly anniversary on or following receipt by
us at our Home Office or any other office
designated by us of your written request to
terminate this Rider. We may require the Policy
for endorsement.
The Issue Date and effective date of this Rider and the Policy are the same
unless another issue date is shown below.
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Issue Date
Secretary's signature President's signature
NEF logo
TABLE OF MAXIMUM MONTHLY COST OF RIDER RATES
PER $1,000
INSURED: JOHN DOE
COVERAGE: WAIVER OF MONTHLY DEDUCTION RIDER
EFFECTIVE DATE OF RIDER: FEBRUARY 1, 2002
POLICY NUMBER: 16,000,001
ATTAINED ATTAINED
AGE RATE AGE RATE
35 71
36 72
37 73
38 74
39 75
40 76
41 77
42 78
43 79
44 80
45 81
46 82
47 83
48 84
49 85
50 86
51 87
52 88
53 89
54 90
55 91
56 92
57 93
58 94
59 95
60 96
61 97
62 98
63 99
64
65
66
67
68
69
70
THESE RATES ARE FOR THIS RIDER WITH THE ABOVE EFFECTIVE DATE. THEY ARE BASED ON
THE 1980 COMMISSIONERS STANDARD ORDINARY MORTALITY TABLE FOR A [MALE, SMOKER].
WAIVER OF SPECIFIED PREMIUM RIDER
ISSUED BY NEW ENGLAND LIFE INSURANCE COMPANY
THE WAITING PERIOD FOR INCONTESTABILITY IS DIFFERENT FROM THAT IN THE POLICY AND
BEGINS ON THE ISSUE DATE OF THIS RIDER.
This Rider is subject to all applicable terms and provisions of the Policy,
except as modified herein. This Rider is a part of the Policy if it is listed on
the Policy Specifications page or on the Policy Specifications page for Policy
Change. A copy of the application for this Rider is attached to and made part of
the Rider.
WAIVER OF SPECIFIED We will credit to the Policy, as a premium payment,
PREMIUM BENEFIT the amount shown as the monthly premium waived on the
Policy Specifications page if:
1. You furnish us with written proof that the Insured
is totally disabled, as defined in this Rider;
2. The Insured becomes disabled after age 5 and
before age 65;
3. Disability has continued without interruption for
at least six months; and
4. This Rider is in force.
The monthly premium waived will be credited as
premium to the Policy as long as the Policy remains
in force as follows:
Disability Beginning Before Age 60. If the Insured's
disability begins before age 60, we will credit the
monthly premiums waived which were due during the six
months of uninterrupted disability. After that, we
will continue to credit the monthly premiums waived.
However, the Insured must continue to be totally
disabled.
Disability Beginning Between Ages 60 and 65. If the
Insured's disability begins on or after age 60 but
before age 65, we will credit the monthly premiums
waived which were due during the six months of
uninterrupted disability. We will continue to credit
the monthly premiums waived after that, but no later
than age 65. However, the Insured must continue to be
totally disabled.
The Policy to which this Rider is attached is
intended to qualify as a life insurance contract
under the Internal Revenue Code or any applicable
successor provision or any interpretive regulation or
rulings by the Internal Revenue Service. To that end,
if you have selected the Guideline Premium Test for
the Policy (See the Definition of Life Insurance
provision of the Policy), premiums on the Policy are
limited to an amount no greater than that allowing
the Policy to continue to qualify. Therefore, the
portion of any monthly premium waived that would
disqualify the Policy will be paid to you in cash.
DEFINITION OF AGE 5, "Age 5," "Age 60," and "Age 65" begin on the Policy
AGE 60 AND AGE 65 anniversary nearest the Insured's 5th, 60th and 65th
birthdays, respectively.
INCREASE IN WAIVER Coverage under this Rider can be increased, subject
to our underwriting rules, if the Face Amount of the
Policy is increased and if the Insured is not
COVERAGE totally disabled. The increase in waiver coverage is
subject to:
1. The terms for a requested increase in Face Amount
as stated in the Change in Face Amount provision
of the Policy;
2. Our limits for Waiver of Specified Premium
benefits; and
3. An increase in the Cost of Rider.
POLICY LAPSE Crediting of the monthly premium waived to the Policy
does not guarantee that the Policy will remain in
force.
COST OF RIDER The cost for this Rider is charged as part of the
Monthly Deductions. The monthly Cost of Rider is
calculated as (1) multiplied by (2) where:
1. Is the Cost of Rider rate for this Rider; and
2. Is the monthly premium waived.
The Cost of Rider Rate for this benefit is based on
the Insured's Attained Age. Each monthly anniversary
this Rider is in force, the monthly Cost of Rider (as
determined above) will be added to the Monthly
Deduction as defined in the Cash Values section of
the Policy. This increased Monthly Deduction will be
used to determine the Cash Value of the Policy on
such monthly anniversary.
TOTAL DISABILITY "Total Disability" means the inability of the Insured
to perform the substantial and material duties of his
or her regular occupation. Such disability must be
the result of an accidental bodily injury or a
sickness. The injury or sickness must first manifest
itself after the Issue Date of this Rider.
However, after this period of disability has
continued for 60 months, the Insured will be
considered to be totally disabled only if he or she
is unable to perform the substantial and material
duties of any occupation for which he or she is
reasonably fitted by education, training or
experience.
If, after this Rider becomes effective, the Insured
suffers the total and irrecoverable loss of:
1. The sight in both eyes;
2. The use of both hands or both feet; or
3. The use of one hand and one foot.
this will be considered total disability as defined
in this Rider. Upon such a loss the Insured will
still be considered disabled even though working at
an occupation.
RECURRENT TOTAL If, while the Policy and this Rider are in force, the
DISABILITY Insured becomes disabled again after having been
totally disabled before, the new disability will be
considered a continuation of the previous period
unless:
1. It is due to an entirely different cause; or
2. The Insured has performed all of the material and
substantial duties of a gainful occupation for a
continuous period of six months or more between
such periods of total disability.
RISKS NOT ASSUMED We will not credit the monthly premium waived under
this Rider to the Policy if disability results from
war or any act of war while the Insured is in the
military, naval or air forces of any country at war.
We will also not credit the monthly premium waived if
the Insured becomes disabled while in a civilian
non-combatant unit serving with such forces. "War"
includes undeclared war and "any country" includes
any international organization or combination of
countries.
NOTICE OF CLAIM AND Before we credit any monthly premium waived to the
PROOF OF DISABILITY Policy, we must receive the following at our Home
Office or any other office designated by us:
1. Written notice of claim for this benefit during
the lifetime of the Insured.
This notice must be submitted during the
continuance of total disability. This notice must
be submitted no later than six months after this
Rider terminates; and
2. Written proof of total disability within six
months after we receive written notice of claim.
In no event should this proof be submitted later
than the date when any of the following events
first occurs:
a. One year after age 65 of the Insured;
b. Surrender of the Policy; and
c. One year from the due date of the first unpaid
Monthly Deduction.
Failure to give such notice and proof within the time
allowed will not void the claim. We will consider the
claim if you show us that it was not reasonably
possible to file notice and proof on time. However,
you must file notice and proof as soon as reasonably
possible. In no event will we credit any monthly
premium waived if its due date was more than one year
before we received notice of claim at our Home Office
or any other office designated by us.
We will require no further proof of disability and we
will automatically credit further monthly premiums
waived if:
1. The Insured is totally disabled at age 65; and
2. All monthly premiums waived for at least the five
years preceding age 65 have been credited.
EXAMINATION OF THE We have the right to have the Insured examined by our
INSURED AND PROOF appointed examiner. Such exam will be at our expense.
OF CONTINUED We also have the right to require written proof of
DISABILITY continuance of disability from the Insured at the
following times:
1. After receipt of notice of claim;
2. At reasonable intervals within two years after we
receive proof of total disability; and
3. Not more than once each year after the first two
years.
We will not credit to the Policy any further monthly
premiums waived if the Insured refuses to be
medically examined. Nor will we credit to the Policy
further monthly premiums waived if proof of
continuance of disability is not furnished when we
request it.
INCONTESTABILITY We cannot contest this Rider after it has been in
force during the lifetime of the Insured, excluding
any period the Insured is totally disabled:
1. With respect to the original waiver coverage under
this Rider, for two years from the Issue Date of
this Rider; and
2. With respect to each increase in waiver coverage
under this Rider, for two years from the effective
date of each increase in Face Amount under the
Policy.
GENERAL PROVISIONS If the Insured becomes totally disabled during the
Grace Period and becomes eligible for the Waiver of
Specified Premium Benefit, we will credit
to the Policy any monthly premiums that were due
during the Grace Period. However, you will be liable
for any monthly premiums that were due prior to the
Grace Period.
TERMINATION This Rider will terminate on the first of the
following events to occur:
1. Attained Age 65 of the Insured. This will be
without prejudice to any benefits granted for
total disability occurring before age 65;
2. The date the Policy lapses;
3. The date the Policy is surrendered;
4. The date of death of the Insured;
5. The date an increase in Face Amount of the Policy
which does not qualify for an increase in coverage
under this Rider;
6. The date a Waiver of Monthly Deduction Rider is
added to the Policy to which this Rider is
attached; or
7. The monthly anniversary on or following receipt by
us at our Home Office or any other office
designated by us of your written request to
terminate this Rider. We may require the Policy
for endorsement.
The Issue Date and effective date of this Rider and the Policy are the same
unless another Issue Date is shown below.
- ----------------
Issue Date
Secretary's signature President's signature
NEF logo
TABLE OF MAXIMUM MONTHLY COST OF RIDER RATES
PER $1,000
INSURED: JOHN DOE
COVERAGE: WAIVER OF SPECIFIED PREMIUM RIDER
EFFECTIVE DATE OF RIDER: FEBRUARY 1, 2002
POLICY NUMBER: 16,000,001
ATTAINED ATTAINED
AGE RATE AGE RATE
35 71
36 72
37 73
38 74
39 75
40 76
41 77
42 78
43 79
44 80
45 81
46 82
47 83
48 84
49 85
50 86
51 87
52 88
53 89
54 90
55 91
56 92
57 93
58 94
59 95
60 96
61 97
62 98
63 99
64
65
66
67
68
69
70
THESE RATES ARE FOR THIS RIDER WITH THE ABOVE EFFECTIVE DATE. THEY ARE BASED ON
THE 1980 COMMISSIONERS STANDARD ORDINARY MORTALITY TABLE FOR A [MALE, SMOKER].
E-3GPO-00
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Rider: Option to Purchase Long-Term Care Insurance
THE COMPANY agrees that the Owner of the Policy can purchase long-term care
insurance on the life of the Insured named in the attached Rider Schedule,
without proof of insurability.
PURCHASE OF LONG-TERM CARE INSURANCE
A long-term care policy can be applied for within 60 days of a Purchase Option
Date. Application for the long-term care policy must be in writing signed by the
Owner and by the Insured and received by the company within 60 days of a
Purchase Option Date.
PURCHASE OPTION DATES
The Purchase Option Dates are shown in the Rider Schedule.
THE LONG-TERM CARE POLICY The long-term care policy will be issued:
- - With the same Insured as this Rider;
- - With the same underwriting class as this Rider or the class we determine is
the closest to it if the class of this Rider is not offered on the
long-term care policy;
- - On any individual plan of long-term care insurance issued by the Company or
by an affiliate designated by the Company on the date of purchase of the
long-term care policy;
- - On a policy form and at premium rates in use by the company on the date of
purchase of the long-term care policy;
- - Subject to any assignments and limitations to which this Rider is subject;
- - At the insurance age of the Insured on the date of purchase of the
long-term care policy;
- - With a Daily Benefit Amount, available at the time you exercise this
Option, up to the Amount shown in the Rider Schedule and with a Lifetime
Benefit Amount up to the Amount shown in the Rider Schedule;
- - With a minimum daily benefit amount based on the company's published
minimum on the date of purchase; or the Maximum Daily Benefit Amount shown
in the Rider Schedule for the Purchase Option Date, if less, except as
otherwise required by law; and
- - Subject to the New Policy Features as shown in the Rider Schedule .
The long-term care policy will take effect on the effective date stated in the
long-term care policy, but only if its initial premium is received by the
company.
The Company reserves the right to offer an option exercise credit. If an option
exercise credit is paid, it will be deducted from the initial premium for the
long-term care policy.
If the long-term care policy is issued on a basis other than daily benefits, the
Amounts shown in the long-term care policy will reflect the chosen benefit
period.
The contestable period of the long-term care policy issued under this
Rider will be measured from the Date of Issue of this Rider. Optional features
or riders can be attached to the long-term care policy only with the consent of
the company.
COST OF RIDER
The monthly cost of insurance charge for this Rider is guaranteed and shown in
the Rider Schedule.
DATE OF ISSUE
The Date of Issue of this Rider is the shown in the Rider Schedule.
E-3GPO-00
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NOT CONTESTABLE AFTER TWO YEARS
This Rider will not be contestable after it has been in force during the life of
the Insured for two years from its Date of Issue.
CONTRACT
A copy of the application for this Rider is attached to and made a part of the
Rider. This Rider is made a part of the Policy to which it is attached, if the
Rider is listed on the specifications page. This Rider has no cash value.
TERMINATION
This Rider will terminate upon the earliest of: (a) death of the Insured; (b)
surrender of the policy to which this Rider is attached; (c) 60 days after the
final Purchase Option Date; (d) the effective date of the long-term care policy;
and (e) the Company's recording of a written request signed by the Owner to end
the Rider.
NEW ENGLAND LIFE INSURANCE COMPANY
501 Boylston Street, Boston, Massachusetts
ABCD ABCD
President Secretary
E-3GPO-00
- --------------------------------------------------------------------------------
Rider Schedule
INSURED NAME: John Doe POLICY NUMBER: Specimen
DATE OF ISSUE: March 1, 2001 RIDER CLASS: Standard
AGE: 35 GUARANTEED MONTHLY $4.17
COST OF INSURANCE
CHARGE
INITIAL DAILY $110.00
BENEFIT AMOUNT
NEW POLICY
FEATURES:
WAITING PERIOD: 100 Days or if less, the minimum number of days required
by law.
- ----------------------------------------------------------
PURCHASE MAXIMUM DAILY MAXIMUM LIFETIME
OPTION DATE BENEFIT AMOUNT BENEFIT AMOUNT
- ----------------------------------------------------------
- ----------------------------------------------------------
3/1/2006 120.00 $131,400
- ----------------------------------------------------------
3/1/2011 140.00 153,300
- ----------------------------------------------------------
3/1/2016 170.00 186,150
- ----------------------------------------------------------
3/1/2021 190.00 208,050
- ----------------------------------------------------------
3/1/2026 220.00 240,900
- ----------------------------------------------------------
- ----------------------------------------------------------
- ----------------------------------------------------------
- ----------------------------------------------------------
E-3GPO-00