1
Exhibit 1 A (5)(B)
KEMPER INVESTORS LIFE INSURANCE COMPANY [ZURICH KEMPER -LOGO]
A Stock Life Insurance Company
1 Kemper Drive
Long Grove, Illinois 60049-0001
LIVES INSURED: JOHN DOE ISSUE AGE: 35
JANE DOE 35
EFFECTIVE DATE: JAN 01 1999 POLICY NO: 0000000
SINGLE PREMIUM: $ 10,000 INITIAL SPECIFIED
AMOUNT: $ 100,000
RIGHT TO CANCEL - At any time within 10 days of receiving this policy, you may
return it to us or to the agent through whom it was purchased. Immediately upon
our receipt, this policy will be voided as if it had never been in force. Within
ten days we will pay an amount equal to premiums paid for this policy less any
Debt.
On the Maturity Date, if either of the Lives Insured is living and this policy
is in force, we will pay the Net Surrender Value to you. If both Lives Insured
die prior to the Maturity Date and this policy is in force, we will pay to the
beneficiary the death benefit in force at the time of the Surviving Insured's
death. Payment made to you or to the beneficiary will be made subject to the
terms of this policy.
This policy is issued in consideration of the attached application and payment
of the single premium. The provisions on this cover and the pages that follow
are part of this policy.
Signed for Kemper Investors Life Insurance Company at its home offices in Long
Grove, Illinois.
Secretary President
SURVIVORSHIP, MODIFIED SINGLE PREMIUM VARIABLE UNIVERSAL LIFE INSURANCE POLICY
PAYABLE ON THE SECOND DEATH
NON-PARTICIPATING
TO THE EXTENT ALLOCATIONS ARE MADE TO THE SUBACCOUNTS, THE CASH VALUE IS BASED
ON THE INVESTMENT EXPERIENCE OF THE SUBACCOUNTS AND MAY INCREASE OR DECREASE
DAILY. THIS AMOUNT IS NOT GUARANTEED. THE AMOUNTS, OR DURATION OF THE DEATH
BENEFIT MAY VARY UNDER THE CONDITIONS DESCRIBED IN THE DEATH BENEFIT AND
TERMINATION PROVISIONS.
This is a legal contract between the owner and Kemper Investors Life Insurance
Company.
READ THIS POLICY CAREFULLY.
2
TABLE OF CONTENTS PAGE NO.
APPLICATION Follows Policy Specifications
DEATH BENEFIT PROVISIONS 2 - 3
Payment of Death Benefits 2
Amount Payable Upon Death 3
DEFINITIONS 1
ENDORSEMENTS, if any Follows Settlement Option Table
GENERAL PROVISIONS 1 - 2
The Contract 1
Contestability 1
Assignment 2
Reports 2
NONFORFEITURE PROVISIONS 4-5
OWNERSHIP PROVISIONS 2
Owner of Policy 2
Change of Ownership 2
Beneficiary 2
POLICY SPECIFICATIONS Follows Index
PREMIUM PROVISIONS 3
SETTLEMENT OPTION TABLE Follows Page 7
TRANSFER, WITHDRAWAL AND LOAN PROVISIONS 5 - 6
Transfers 5
Withdrawals 5
Withdrawal Charges 5
Loans 5
Transfer, Withdrawal and Loan Procedures 6
VARIABLE ACCOUNT PROVISIONS 3 - 4
Separate Account 3
Liabilities of Separate Account 3
Separate Account Value 3
Subaccounts 4
Rights Reserved By The Company 4
Accumulation Unit Value 4
3
POLICY SPECIFICATIONS
INSURED LIVES JOHN DOE ISSUE AGE 35
JANE DOE 35
EFFECTIVE DATE JAN 01 1999 POLICY NUMBER 0000000
INITIAL SPECIFIED AMOUNT $100,000 ISSUE DATE JAN 01 1999
COVERAGE INFORMATION
RATE INITIAL
CLASS SPECIFIED MATURITY OR MONTHLY
BENEFIT DESCRIPTION PERCENT AMOUNT EXPIRY DATE RATE
MODIFIED SINGLE PREMIUM
VARIABLE LIFE* 100 $100,000 [JAN 01 2064] SEE PAGE D
* IT IS POSSIBLE THAT COVERAGE WILL EXPIRE PRIOR TO THE MATURITY DATE SHOWN IF
PREMIUMS PAID ARE INSUFFICIENT TO CONTINUE THE COVERAGE TO SUCH DATE. EVEN IF
COVERAGE CONTINUES TO THE MATURITY DATE, THERE MAY BE NO SURRENDER VALUE TO BE
PAID ON THAT DATE.
PREMIUM INFORMATION
SINGLE PREMIUM [$10,000]
INSURED RATE CLASS STANDARD TOBACCO/NON-TOBACCO
Page A
4
POLICY SPECIFICATIONS
INSURED LIVES JOHN DOE ISSUE AGE 35
JANE DOE 35
EFFECTIVE DATE JAN 01 1999 POLICY NUMBER [000000]
MONTHLY PROCESSING DAY DAY 01 OF EACH MONTH
DEDUCTION PERIOD [65 YEARS, 00 MONTHS]
MINIMUM SPECIFIED AMOUNT AFTER WITHDRAWAL [$10,000]
MINIMUM WITHDRAWAL AMOUNT [$100.00]
MINIMUM NET SURRENDER VALUE AFTER WITHDRAWAL [$5,000]
MINIMUM LOAN AMOUNT [$1,000.00]
POLICY LOAN INTEREST CHARGED [5.50%]
POLICY LOAN INTEREST CREDITED
Preferred Loan Portion [5.50%]
Non-Preferred Loan Portion [3.50%]
MINIMUM PREMIUM [$10,000.00]
IRC SECTION 7702 TEST GUIDELINE PREMIUM
TABLE OF DEATH BENEFIT FACTORS
ATTAINED ATTAINED ATTAINED ATTAINED
AGE* PERCENT AGE* PERCENT AGE* PERCENT AGE* PERCENT
0-40 250 50 185 60 130 70 115
41 243 51 178 61 128 71 113
42 236 52 171 62 126 72 111
43 229 53 164 63 124 73 109
44 222 54 157 64 122 74 107
45 215 55 150 65 120 75-90 105
46 209 56 146 66 119 91 104
47 203 57 142 67 118 92 103
48 197 58 138 68 117 93 102
49 191 59 134 69 116 94 101
95+ 100
*ATTAINED AGE IS THE AGE ON LAST BIRTHDAY AS OF THE BEGINNING OF THE POLICY
YEAR.
Page B
5
POLICY SPECIFICATIONS
LIVES INSURED JOHN DOE ISSUE AGE 35
JANE DOE 35
ISSUE DATE JAN 01 1999 POLICY NUMBER [000000]
SEPARATE ACCOUNT INITIAL PREMIUM ALLOCATION
KEMPER AGGRESSIVE GROWTH PORTFOLIO 100%
KEMPER TECHNOLOGY GROWTH PORTFOLIO
KEMPER-DREMAN FINANCIAL SERVICES PORTFOLIO
KEMPER SMALL CAP GROWTH PORTFOLIO
KEMPER SMALL CAP VALUE PORTFOLIO
KEMPER-DREMAN HIGH RETURN EQUITY PORTFOLIO
KEMPER INTERNATIONAL PORTFOLIO
KEMPER INTERNATIONAL GROWTH & INCOME PORTFOLIO
KEMPER GLOBAL BLUE CHIP PORTFOLIO
KEMPER GROWTH PORTFOLIO
KEMPER CONTRARIAN VALUE PORTFOLIO
KEMPER BLUE CHIP PORTFOLIO
KEMPER VALUE+GROWTH PORTFOLIO
KEMPER HORIZON 20+ PORTFOLIO
KEMPER TOTAL RETURN PORTFOLIO
KEMPER HORIZON 10+ PORTFOLIO
KEMPER HIGH YIELD PORTFOLIO
KEMPER HORIZON 5 PORTFOLIO
KEMPER GLOBAL INCOME PORTFOLIO
KEMPER INVESTMENT GRADE BOND PORTFOLIO
KEMPER GOVERNMENT SECURITIES PORTFOLIO
KEMPER MONEY MARKET PORTFOLIO
SCUDDER VLIF GLOBAL DISCOVERY PORTFOLIO
SCUDDER VLIF GROWTH AND INCOME PORTFOLIO
SCUDDER VLIF INTERNATIONAL PORTFOLIO
SCUDDER VLIF CAPITAL GROWTH PORTFOLIO
JANUS ASPEN GROWTH PORTFOLIO
JANUS ASPEN GROWTH AND INCOME PORTFOLIO
WARBURG EMERGING MARKETS PORTFOLIO
WARBURG POST-VENTURE CAPITAL PORTFOLIO
ASSET BASED CHARGES ARE ASSESSED FOR THE ABOVE SUBACCOUNTS. FOR A COMPLETE
DISCUSSION OF ASSET BASED CHARGES, PLEASE REFER TO SCHEDULE 1.
Page C
6
POLICY SPECIFICATIONS
LIVES INSURED JOHN DOE ISSUE AGE 35
JANE DOE 35
ISSUE DATE JAN 01 1999 POLICY NUMBER [000000]
TABLE OF GUARANTEED MAXIMUM COST OF INSURANCE RATES* PER $1,000
ATTAINED NON- ATTAINED NON-
AGE TOBACCO TOBACCO AGE TOBACCO TOBACCO
- ------------------------------------------------------------------------------------------------------------
0 0.219480 0.219480 50 0.428690 0.837880
1 0.085880 0.085880 51 0.468090 0.916270
2 0.082540 0.082540 52 0.513380 1.004870
3 0.080880 0.080880 53 0.565410 1.105400
4 0.077540 0.077540 54 0.623350 1.215380
5 0.073370 0.073370 55 0.688070 1.333150
6 0.069200 0.069200 56 0.758730 1.457890
7 0.065030 0.065030 57 0.833670 1.589640
8 0.062530 0.062530 58 0.917110 1.728430
9 0.061690 0.061690 59 1.010780 1.877720
10 0.062530 0.062530 60 1.115550 2.044410
11 0.067530 0.067530 61 1.232310 2.232910
12 0.076700 0.076700 62 1.367070 2.445950
13 0.089220 0.089220 63 1.519910 2.684600
14 0.103400 0.103400 64 1.690090 2.946500
15 0.113420 0.146810 65 1.876860 3.224930
16 0.123430 0.163510 66 2.079500 3.517450
17 0.130940 0.175200 67 2.297270 3.821590
18 0.135950 0.184390 68 2.534600 4.141890
19 0.139290 0.190240 69 2.798580 4.490890
20 0.140130 0.193580 70 3.098170 4.877870
21 0.138460 0.193580 71 3.441600 5.314990
22 0.135950 0.190240 72 3.839990 5.812080
23 0.132610 0.186890 73 4.293280 6.366660
24 0.129280 0.181880 74 4.794460 6.979050
25 0.125100 0.176030 75 5.333740 7.638620
26 0.122600 0.172690 76 5.907380 8.318710
27 0.120930 0.171020 77 6.511600 9.007620
28 0.120090 0.171020 78 7.150730 9.710250
29 0.120090 0.173530 79 7.845900 10.451730
30 0.120930 0.177710 80 8.620930 11.258160
31 0.123430 0.183550 81 9.498890 12.154910
32 0.126770 0.191070 82 10.501350 13.160810
33 0.131780 0.201100 83 11.628210 14.262960
34 0.137620 0.212790 84 12.862100 15.427670
35 0.144300 0.227000 85 14.178860 16.617240
36 0.151820 0.243720 86 15.565070 17.803170
37 0.161840 0.264620 87 17.002260 19.039280
38 0.172690 0.288040 88 18.486430 20.348230
39 0.184390 0.314810 89 20.041320 21.671680
40 0.198590 0.345780 90 21.693700 23.030110
41 0.213630 0.379270 91 23.488560 24.468300
42 0.229510 0.416120 92 25.504290 26.169550
43 0.247060 0.456350 93 27.961930 28.406850
44 0.266290 0.500790 94 31.383850 31.563380
45 0.288040 0.547780 95 36.798270 36.798270
46 0.311460 0.596470 96 46.588990 46.588990
47 0.336570 0.649400 97 67.043870 67.043870
48 0.364190 0.706570 98 83.333330 83.333330
49 0.394340 0.768830 99 83.333330 83.333330
*THE GUARANTEED MAXIMUM MONTHLY COST OF INSURANCE RATES SHALL BE THE RATES SHOWN
IN THE TABLE ABOVE MULTIPLIED BY THE APPROPRIATE RATE CLASS PERCENT. THIS
PERCENT IS SHOWN ON PAGE 1 OF THE POLICY SPECIFICATIONS. THE RATES ACTUALLY
CHARGED MAY BE REDUCED IN ACCORDANCE WITH THE COST OF INSURANCE RATE SECTION.
Page D
7
GUARANTEED MAXIMUM MONTHLY COST OF INSURANCE RATES
--------------------------------------------------------------
MALE NON-TOBACCO
--------------------------------------------------------------
ATTAINED ATTAINED
AGE AGE
------------------------------ -----------------------------
0 0.219480 50 0.428690
------------------------------ -----------------------------
1 0.085880 51 0.468090
------------------------------ -----------------------------
2 0.082540 52 0.513380
------------------------------ -----------------------------
3 0.080880 53 0.565410
------------------------------ -----------------------------
4 0.077540 54 0.623350
------------------------------ -----------------------------
5 0.073370 55 0.688070
------------------------------ -----------------------------
6 0.069200 56 0.758730
------------------------------ -----------------------------
7 0.065030 57 0.833670
------------------------------ -----------------------------
8 0.062530 58 0.917110
------------------------------ -----------------------------
9 0.061690 59 1.010780
------------------------------ -----------------------------
10 0.062530 60 1.115550
------------------------------ -----------------------------
11 0.067530 61 1.232310
------------------------------ -----------------------------
12 0.076700 62 1.367070
------------------------------ -----------------------------
13 0.089220 63 1.519910
------------------------------ -----------------------------
14 0.103400 64 1.690090
------------------------------ -----------------------------
15 0.113420 65 1.876860
------------------------------ -----------------------------
16 0.123430 66 2.079500
------------------------------ -----------------------------
17 0.130940 67 2.297270
------------------------------ -----------------------------
18 0.135950 68 2.534600
------------------------------ -----------------------------
19 0.139290 69 2.798580
------------------------------ -----------------------------
20 0.140130 70 3.098170
------------------------------ -----------------------------
21 0.138460 71 3.441600
------------------------------ -----------------------------
22 0.135950 72 3.839990
------------------------------ -----------------------------
23 0.132610 73 4.293280
------------------------------ -----------------------------
24 0.129280 74 4.794460
------------------------------ -----------------------------
25 0.125100 75 5.333740
------------------------------ -----------------------------
26 0.122600 76 5.907380
------------------------------ -----------------------------
27 0.120930 77 6.511600
------------------------------ -----------------------------
28 0.120090 78 7.150730
------------------------------ -----------------------------
29 0.120090 79 7.845900
------------------------------ -----------------------------
30 0.120930 80 8.620930
------------------------------ -----------------------------
31 0.123430 81 9.498890
------------------------------ -----------------------------
32 0.126770 82 10.501350
------------------------------ -----------------------------
33 0.131780 83 11.628210
------------------------------ -----------------------------
34 0.137620 84 12.862100
------------------------------ -----------------------------
35 0.144300 85 14.178860
------------------------------ -----------------------------
36 0.151820 86 15.565070
------------------------------ -----------------------------
37 0.161840 87 17.002260
------------------------------ -----------------------------
38 0.172690 88 18.486430
------------------------------ -----------------------------
39 0.184390 89 20.041320
------------------------------ -----------------------------
40 0.198590 90 21.693700
------------------------------ -----------------------------
41 0.213630 91 23.488560
------------------------------ -----------------------------
42 0.229510 92 25.504290
------------------------------ -----------------------------
43 0.247060 93 27.961930
------------------------------ -----------------------------
44 0.266290 94 31.383850
------------------------------ -----------------------------
45 0.288040 95 36.798270
------------------------------ -----------------------------
46 0.311460 96 46.588990
------------------------------ -----------------------------
47 0.336570 97 67.043870
------------------------------ -----------------------------
48 0.364190 98 83.333330
------------------------------ -----------------------------
49 0.394340 99 83.333330
------------------------------ -----------------------------
8
GUARANTEED MAXIMUM MONTHLY COST OF INSURANCE RATES
--------------------------------------------------------------
MALE TOBACCO
------------------------------- -------------------------------
ATTAINED ATTAINED
AGE AGE
------------------------------ -----------------------------
0 0.219480 50 0.837880
------------------------------ -----------------------------
1 0.085880 51 0.916270
------------------------------ -----------------------------
2 0.082540 52 1.004870
------------------------------ -----------------------------
3 0.080880 53 1.105400
------------------------------ -----------------------------
4 0.077540 54 1.215380
------------------------------ -----------------------------
5 0.073370 55 1.333150
------------------------------ -----------------------------
6 0.069200 56 1.457890
------------------------------ -----------------------------
7 0.065030 57 1.589640
------------------------------ -----------------------------
8 0.062530 58 1.728430
------------------------------ -----------------------------
9 0.061690 59 1.877720
------------------------------ -----------------------------
10 0.062530 60 2.044410
------------------------------ -----------------------------
11 0.067530 61 2.232910
------------------------------ -----------------------------
12 0.076700 62 2.445950
------------------------------ -----------------------------
13 0.089220 63 2.684600
------------------------------ -----------------------------
14 0.103400 64 2.946500
------------------------------ -----------------------------
15 0.146810 65 3.224930
------------------------------ -----------------------------
16 0.163510 66 3.517450
------------------------------ -----------------------------
17 0.175200 67 3.821590
------------------------------ -----------------------------
18 0.184390 68 4.141890
------------------------------ -----------------------------
19 0.190240 69 4.490890
------------------------------ -----------------------------
20 0.193580 70 4.877870
------------------------------ -----------------------------
21 0.193580 71 5.314990
------------------------------ -----------------------------
22 0.190240 72 5.812080
------------------------------ -----------------------------
23 0.186890 73 6.366660
------------------------------ -----------------------------
24 0.181880 74 6.979050
------------------------------ -----------------------------
25 0.176030 75 7.638620
------------------------------ -----------------------------
26 0.172690 76 8.318710
------------------------------ -----------------------------
27 0.171020 77 9.007620
------------------------------ -----------------------------
28 0.171020 78 9.710250
------------------------------ -----------------------------
29 0.173530 79 10.451730
------------------------------ -----------------------------
30 0.177710 80 11.258160
------------------------------ -----------------------------
31 0.183550 81 12.154910
------------------------------ -----------------------------
32 0.191070 82 13.160810
------------------------------ -----------------------------
33 0.201100 83 14.262960
------------------------------ -----------------------------
34 0.212790 84 15.247670
------------------------------ -----------------------------
35 0.227000 85 16.617240
------------------------------ -----------------------------
36 0.243720 86 17.803170
------------------------------ -----------------------------
37 0.264620 87 19.039280
------------------------------ -----------------------------
38 0.288040 88 20.348230
------------------------------ -----------------------------
39 0.314810 89 21.671680
------------------------------ -----------------------------
40 0.345780 90 23.030110
------------------------------ -----------------------------
41 0.379270 91 24.468300
------------------------------ -----------------------------
42 0.416120 92 26.169550
------------------------------ -----------------------------
43 0.456350 93 28.406850
------------------------------ -----------------------------
44 0.500790 94 31.563380
------------------------------ -----------------------------
45 0.547780 95 36.798270
------------------------------ -----------------------------
46 0.596470 96 46.588990
------------------------------ -----------------------------
47 0.649400 97 67.043870
------------------------------ -----------------------------
48 0.706570 98 83.333330
------------------------------ -----------------------------
49 0.768830 99 83.333330
------------------------------ -----------------------------
9
GUARANTEED MAXIMUM MONTHLY COST OF INSURANCE RATES
--------------------------------------------------------------
FEMALE NON-TOBACCO
--------------------------------------------------------------
ATTAINED ATTAINED
AGE AGE
------------------------------ -----------------------------
0 0.156830 50 0.362520
------------------------------ -----------------------------
1 0.070030 51 0.390150
------------------------------ -----------------------------
2 0.066700 52 0.421990
------------------------------ -----------------------------
3 0.065030 53 0.457190
------------------------------ -----------------------------
4 0.064190 54 0.493240
------------------------------ -----------------------------
5 0.062530 55 0.531830
------------------------------ -----------------------------
6 0.060860 56 0.570440
------------------------------ -----------------------------
7 0.059190 57 0.608230
------------------------------ -----------------------------
8 0.058360 58 0.646040
------------------------------ -----------------------------
9 0.057520 59 0.688910
------------------------------ -----------------------------
10 0.056690 60 0.739370
------------------------------ -----------------------------
11 0.058360 61 0.801660
------------------------------ -----------------------------
12 0.060860 62 0.879170
------------------------------ -----------------------------
13 0.064190 63 0.974480
------------------------------ -----------------------------
14 0.068360 64 1.081730
------------------------------ -----------------------------
15 0.071700 65 1.197600
------------------------------ -----------------------------
16 0.075040 66 1.317890
------------------------------ -----------------------------
17 0.077540 67 1.440910
------------------------------ -----------------------------
18 0.080040 68 1.568370
------------------------------ -----------------------------
19 0.082540 69 1.710530
------------------------------ -----------------------------
20 0.084210 70 1.877720
------------------------------ -----------------------------
21 0.085880 71 2.082070
------------------------------ -----------------------------
22 0.086720 72 2.333340
------------------------------ -----------------------------
23 0.088380 73 2.635430
------------------------------ -----------------------------
24 0.090050 74 2.984600
------------------------------ -----------------------------
25 0.091720 75 3.376280
------------------------------ -----------------------------
26 0.094220 76 3.802330
------------------------------ -----------------------------
27 0.095890 77 4.261570
------------------------------ -----------------------------
28 0.098400 78 4.761660
------------------------------ -----------------------------
29 0.101730 79 5.319450
------------------------------ -----------------------------
30 0.104240 80 5.958680
------------------------------ -----------------------------
31 0.107580 81 6.700420
------------------------------ -----------------------------
32 0.110910 82 7.564140
------------------------------ -----------------------------
33 0.115090 83 8.550150
------------------------------ -----------------------------
34 0.120090 84 9.651690
------------------------------ -----------------------------
35 0.125940 85 10.861090
------------------------------ -----------------------------
36 0.134280 86 12.174410
------------------------------ -----------------------------
37 0.144300 87 13.594640
------------------------------ -----------------------------
38 0.155160 88 15.128280
------------------------------ -----------------------------
39 0.166850 89 16.793990
------------------------------ -----------------------------
40 0.181050 90 18.613420
------------------------------ -----------------------------
41 0.196080 91 20.640050
------------------------------ -----------------------------
42 0.211120 92 22.968510
------------------------------ -----------------------------
43 0.226170 93 25.797340
------------------------------ -----------------------------
44 0.241210 94 29.586210
------------------------------ -----------------------------
45 0.257930 95 35.366190
------------------------------ -----------------------------
46 0.275490 96 45.525080
------------------------------ -----------------------------
47 0.294730 97 66.318680
------------------------------ -----------------------------
48 0.314810 98 83.333330
------------------------------ -----------------------------
49 0.337410 99 83.333330
------------------------------ -----------------------------
10
GUARANTEED MAXIMUM MONTHLY COST OF INSURANCE RATES
--------------------------------------------------------------
FEMALE TOBACCO
--------------------------------------------------------------
ATTAINED ATTAINED
AGE AGE
------------------------------ -----------------------------
0 0.156830 50 0.566250
------------------------------ -----------------------------
1 0.070030 51 0.607390
------------------------------ -----------------------------
2 0.066700 52 0.654440
------------------------------ -----------------------------
3 0.065030 53 0.706570
------------------------------ -----------------------------
4 0.064190 54 0.759570
------------------------------ -----------------------------
5 0.062530 55 0.814290
------------------------------ -----------------------------
6 0.060860 56 0.868210
------------------------------ -----------------------------
7 0.059190 57 0.918800
------------------------------ -----------------------------
8 0.058360 58 0.968570
------------------------------ -----------------------------
9 0.057520 59 1.021750
------------------------------ -----------------------------
10 0.056690 60 1.085110
------------------------------ -----------------------------
11 0.058360 61 1.164600
------------------------------ -----------------------------
12 0.060860 62 1.267040
------------------------------ -----------------------------
13 0.064190 63 1.391670
------------------------------ -----------------------------
14 0.068360 64 1.530960
------------------------------ -----------------------------
15 0.080040 65 1.678160
------------------------------ -----------------------------
16 0.084210 66 1.828210
------------------------------ -----------------------------
17 0.088380 67 1.973420
------------------------------ -----------------------------
18 0.092560 68 2.120610
------------------------------ -----------------------------
19 0.095060 69 2.280960
------------------------------ -----------------------------
20 0.097560 70 2.470900
------------------------------ -----------------------------
21 0.099230 71 2.712220
------------------------------ -----------------------------
22 0.101730 72 3.008860
------------------------------ -----------------------------
23 0.104240 73 3.363220
------------------------------ -----------------------------
24 0.106740 74 3.769070
------------------------------ -----------------------------
25 0.109240 75 4.214910
------------------------------ -----------------------------
26 0.113420 76 4.691660
------------------------------ -----------------------------
27 0.116760 77 5.192770
------------------------------ -----------------------------
28 0.120930 78 5.725870
------------------------------ -----------------------------
29 0.125940 79 6.310570
------------------------------ -----------------------------
30 0.131780 80 6.970840
------------------------------ -----------------------------
31 0.136790 81 7.726990
------------------------------ -----------------------------
32 0.142630 82 8.595770
------------------------------ -----------------------------
33 0.150150 83 9.611100
------------------------------ -----------------------------
34 0.158500 84 10.726950
------------------------------ -----------------------------
35 0.167680 85 11.929990
------------------------------ -----------------------------
36 0.181880 86 13.214160
------------------------------ -----------------------------
37 0.198590 87 14.570110
------------------------------ -----------------------------
38 0.217810 88 16.008410
------------------------------ -----------------------------
39 0.238700 89 17.532150
------------------------------ -----------------------------
40 0.263790 90 19.256820
------------------------------ -----------------------------
41 0.290550 91 21.156900
------------------------------ -----------------------------
42 0.317320 92 23.319700
------------------------------ -----------------------------
43 0.344100 93 25.937870
------------------------------ -----------------------------
44 0.370890 94 29.586210
------------------------------ -----------------------------
45 0.399370 95 35.366190
------------------------------ -----------------------------
46 0.428690 96 45.525080
------------------------------ -----------------------------
47 0.458870 97 66.318680
------------------------------ -----------------------------
48 0.491570 98 83.333330
------------------------------ -----------------------------
49 0.527640 99 83.333330
------------------------------ -----------------------------
11
SCHEDULE 1
CHARGES AND DEDUCTIONS
- --------------------------------------------------------------------------------
SCHEDULE OF ASSET BASED CHARGES
- --------------------------------------------------------------------------------
Mortality and Expense Risk Charge .90%
- --------------------------------------------------------------------------------
Administration Charge .35% annually for Policy Years 1-10
.25% annually for Policy Years 11 and later
Tax Charge .40% annually for Policy Years 1-10
THE ASSET BASED CHARGES WILL BE ASSESSED DAILY ON THE SEPARATE ACCOUNT VALUE.
The Annual Record Maintenance Charge of $30 is deducted from your Cash Value at
the end of the Policy Year.
- ----------------------------------------------------------------------------------------------------------
SCHEDULE OF PREMIUM WITHDRAWAL CHARGES
- ----------------------------------------------------------------------------------------------------------
POLICY YEARS SURRENDER PREMIUM TAX TOTAL WITHDRAWAL
ELAPSED SINCE ISSUE CHARGE CHARGE CHARGE
- ----------------------------------------------------------------------------------------------------------
1 7.75% 2.25% 10.00%
2 7.75% 2.00% 9.75%
3 7.50% 1.75% 9.25%
4 6.50% 1.50% 8.00%
5 5.75% 1.25% 7.00%
6 5.00% 1.00% 6.00%
7 4.25% .75% 5.00%
8 3.50% .50% 4.00%
9 2.75% .25% 3.00%
over 9 0% 0% 0%
- ----------------------------------------------------------------------------------------------------------
THE WITHDRAWAL CHARGE PERCENTAGES ARE APPLIED AGAINST THE ORIGINAL SINGLE
PREMIUM AMOUNT. A FREE PARTIAL WITHDRAWAL OF THE GREATER OF 10% OF CASH VALUE OR
CASH VALUE LESS PREMIUM PAID IS AVAILABLE EACH YEAR. PREMIUM PAID FOR THIS
PURPOSE IS THE PREMIUM SUBJECT TO A WITHDRAWAL CHARGE MINUS WITHDRAWALS
PREVIOUSLY ASSESSED [A WITHDRAWAL CHARGE].
12
DEFINITIONS
ACCUMULATION UNIT - An accounting unit of measure used
to calculate the value of each Subaccount.
ACCUMULATION UNIT VALUE - The value of a Subaccount
determined for a Valuation Period according to the
formula stated in this policy.
ADMINISTRATION CHARGE - A charge deducted from the Cash
Value for a portion of Our administrative costs.
CASH VALUE - The sum of the Separate Account Value plus
the Fixed Account Value plus the Loan Account Value.
DEBT - The principal of any outstanding loan plus any
loan interest due or accrued.
DEDUCTION DAY - The Deduction Day is stated in the
policy specifications. It is the same day in each month
as the Effective Date. It is the day from which policy
months are determined.
EFFECTIVE DATE - The Effective Date is shown on the
front of Your policy. It is the date coverage becomes
effective. If the Effective Date would have been the
29th, 30th or 31st of the month, the Effective Date will
be the 28th day of that month.
FIXED ACCOUNT - The portion of the Cash Value allocated
to our General Account, including amounts allocated to
our DCA Fixed Account to be transferred to the
Subaccount under the automatic Dollar Cost Averaging
program.
FIXED ACCOUNT VALUE - The value of the Fixed Account.
FUND - An investment company or separate series thereof,
in which the Subaccounts of the Separate Account invest.
GENERAL ACCOUNT - Our assets other than those allocated
to the Separate Account or any other Separate Account.
GUIDELINE SINGLE PREMIUM - The Guideline Single Premium
as defined in Section 7702 of the Internal Revenue Code.
ISSUE AGE - The attained age as of the Life Insured's
last birthday on the Effective Date.
ISSUE DATE - The issue date stated in the policy
specifications. It is the date all requirements for
coverage and Premium have been received, and the policy
is approved.
LIVES INSURED - The persons whose lives are insured
under the policy as set forth in the policy
specifications.
LOAN ACCOUNT - The account established for amounts
transferred from the Subaccounts as security for
outstanding Policy Debt.
LOAN ACCOUNT VALUE - The value of the Loan Account.
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13
Page 2
MATURITY DATE - The Maturity Date is stated in the
policy specifications. It is the policy anniversary
nearest the insured's 100th birthday.
MORTALITY AND EXPENSE CHARGE - A charge deducted in the
calculation of the accumulation unit value. It is for
Our assumption of mortality risks and expense
guarantees.
NET SURRENDER VALUE - The Surrender Value minus any
Debt.
OWNER - See "You, Your, Yours" below.
POLICY YEAR - Each twelve-month period beginning on the
Effective Date and each Policy Anniversary.
PREFERRED LOAN - The portion of any loan as to which the
loan account is credited a higher rate of interest. The
maximum amount available as a Preferred Loan is the
Separate Account Values minus premium paid plus any
prior withdrawal of premium.
PREMIUM - The dollar amount We receive in U.S. currency
to buy the benefits this policy provides.
RECORDS MAINTENANCE CHARGE - A charge assessed against
Your policy as specified in the policy specifications.
RECEIVED - Received by Kemper Investors Life Insurance
Company at its home office in Long Grove, Illinois.
SEPARATE ACCOUNT - A unit investment trust registered
with the Securities and Exchange Commission under the
Investment Company Act of 1940 known as the KILICO
Variable Annuity Separate Account.
SEPARATE ACCOUNT VALUE - The sum of the Subaccount
Values of this policy on the Valuation Date.
SUBACCOUNTS - The Separate Account has several
Subaccounts. The available Subaccounts are stated in the
policy specifications.
SUBACCOUNT VALUE - The value of each Subaccount
calculated separately according to the formula stated in
this policy.
SURRENDER VALUE - The Surrender Value of this policy is
the Cash Value minus any applicable withdrawal charge.
SURVIVING INSURED - The second Life Insured to die.
TAX EXPENSE CHARGE - A charge deducted from the Cash
Value to pay applicable state and local Premium taxes
and federal taxes imposed under Section 848 of the
Internal Revenue Code of 1986, as amended (the "Code").
TRADE DATE - The Trade Date is ten (10) days plus the
number of days in your right to cancel period after the
Issue Date. It is the date that your initial premium
plus any interest will be allocated to the Subaccounts
according to your instructions. The right to cancel
period is shown on the front of Your policy.
VALUATION DATE - Each business day that applicable law
requires that We value the assets of the Separate
Account. Currently this is each day that the New York
Stock Exchange is open for trading.
VALUATION PERIOD - The period that starts at the close
of a Valuation Date and ends at the close of the next
succeeding Valuation Date.
14
WE, OUR, US - Kemper Investors Life Insurance Company,
Long Grove, Illinois.
YOU, YOUR, YOURS - The party(s) named as owner in the
application unless later changed as provided in this
policy. The owner, prior to the distribution of any
death benefit, has the exclusive right to exercise every
option and right conferred by this policy.
GENERAL PROVISIONS
THE POLICY The policy, the attached application and any
supplemental application(s) constitute the entire
contract between the parties. All statements made in the
application and supplemental application(s) are deemed
representations and not warranties. No misstatement will
void this policy or be used as a defense of a claim
unless it is contained in the application or any
supplemental application.
MODIFICATION OF Only Our president, secretary and assistant secretaries
POLICY have the power to approve a change or waive any
provisions of this policy. Any such modifications must
be in writing. No agent or person other than the
officers named has the authority to change or waive the
provisions of this policy.
CONTESTABILITY We cannot contest this policy after it has been in force
for two years from the Effective Date.
If the policy is reinstated, a new two year
contestability period will apply from the Effective Date
of the reinstatement and will apply only to statements
made in the application for the reinstatement.
MISSTATEMENT OF AGE If the age and/or sex of the Life Insured was misstated,
AND/OR SEX the death benefit and all policy values will be adjusted
based on what the initial Premium would have purchased
using the correct ages and/or sexes.
SUICIDE If the first death is by suicide, within two years of
the Effective Date or date of reinstatement, whether the
Life Insured was sane or insane, We will reissue this
policy. The new policy on the Surviving Insured will be
a single life permanent policy which is available at
time of re-issue. The suicide provision for the new
policy will be effective as of the original issue date.
If the second death is by suicide, within two years from
the Effective Date, whether the Surviving Insured is
sane or insane, We will pay only the Premiums paid less
any withdrawal and Debt. If the second death occurs by
suicide within two years after the date of
reinstatement, Our total liability with respect to such
reinstatement will be the cost of insurance since the
date of reinstatement.
EFFECTIVE DATE The Effective Date of coverage under this policy is the
OF COVERAGE Effective Date. If the Effective Date would have been
the 29th, 30th, or 31st of the month, the Effective Date
will be the 28th day of that month. Incontestability and
suicide periods are measured from the Effective Date. We
will deduct the first monthly deduction on the Effective
Date.
TERMINATION All coverage under this policy terminates when any one
of the following occurs:
1. You request that coverage terminates;
2. The Surviving Insured dies;
3. This policy matures, or
4. The grace period ends and there is Debt
outstanding.
ASSIGNMENT No assignment of this policy is binding unless We
receive written notice of the assignment. We assume no
responsibility for the validity or sufficiency of any
assignment. Once notice of the assignment is recorded,
the rights of the owner, annuitant and beneficiary are
subject to the assignment. Any claim is subject to proof
of interest of the assignee.
DUE PROOF OF DEATH The death benefit is payable when the Surviving Insured
dies. We must receive written proof of both deaths
within sixty days of the death of each of the Lives
Insured, or as soon thereafter as is reasonably
possible. The proof may be a certified death
certificate, the written statement of a physician, or
any other proof satisfactory to Us.
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Page 4
RESERVES, CASH VALUES All reserves are equal to or greater than those required
AND DEATH BENEFITS by statute. Any available Cash Value and death benefit
are not less than the minimum benefits required by the
statutes of the state in which this policy is delivered.
BASIS OF COMPUTATIONS A detailed statement of the method of computations of
cash values under this policy has been filed with the
insurance department of the state in which this policy
is delivered. The 1980 Commissioner's Standard Ordinary
Smoker or Nonsmoker Mortality tables, age last birthday,
is the basis for minimum Cash Values, death benefits,
and guaranteed maximum cost of insurance rates under
this policy.
TAX TREATMENT This policy is intended to qualify as a life insurance
policy under the Internal Revenue Code ("Code"). We may
return Premiums which would disqualify the policy from
tax treatment as a life insurance policy. This policy
may be endorsed to reflect any change in the Code and
its regulations and rulings. You will receive a copy of
any such endorsement. If or when a federal income tax
should apply, we may impose charges for federal income
taxes attributed to the Separate Account. Charges for
other taxes, if any, attributed to this policy may also
be made.
NON-PARTICIPATING This policy does not pay dividends. It will not share in
Our surplus or earnings.
REPORTS At least once each Policy Year We will send You a
statement showing Premiums received, interest credited,
investment experience, and charges made since the last
report. The report will also show the current death
benefit and Cash Value, as well as any other information
required by statute.
OWNERSHIP PROVISIONS
OWNERS OF POLICY The insured is the original policy owner
unless otherwise provided in the application. You have
the right to cancel or amend this policy if We agree.
You may exercise every option and right conferred by
this policy including the right of assignment. The joint
owners must agree to any change if more than one owner
is named.
CHANGE OF OWNERSHIP You may change the owner by written request at any time
during the lifetime of the Surviving Insured. You must
furnish information sufficient to clearly identify the
new owner to Us. The change is subject to any existing
assignment of this policy. When We record the effective
date of the change, it will be the date the notice was
signed except for action taken by Us prior to receiving
the request. Any change is subject to the payment of any
proceeds. We may require You to return this policy to Us
for endorsement of a change.
BENEFICIARY The application for this policy shows the original
DESIGNATED AND beneficiary. You may change the beneficiary if You send
CHANGE OF BENEFICIARY Us a written change form. Changes are subject to the
following:
1. The change must be filed while the Surviving
Insured is alive;
2. This policy must be in force at the time You
file a change;
3. Such change must not be prohibited by the terms
of an existing assignment, beneficiary
designation or other restriction;
4. Such change will take effect when We receive it;
5. After We receive the change, it will take effect
on the date the change form was signed. However,
action taken by Us before the change form was
received will remain in effect; and
6. The request for change must provide information
sufficient to identify the new beneficiary.
We may require You to return this policy for endorsement
of a change.
16
DEATH OF BENEFICIARY The interest of a beneficiary who dies before the
distribution of the death benefit will pass to the other
beneficiaries, if any, share and share alike, unless
otherwise provided in the beneficiary designation. If no
beneficiary survives, or if no beneficiary is named, the
distribution will be made to the insured's estate.
If a beneficiary dies within ten days of the date of the
Surviving Insured's death, the death benefit will be
paid as if the Surviving Insured had survived the
beneficiary.
DEATH BENEFIT PROVISIONS
PAYMENT OF DEATH We will pay a death benefit to the beneficiary when We
BENEFITS receive due proof of death, if the Surviving Insured
dies while this policy is inforce. The return of this
policy is required before a payment is made.
We will pay the death benefit in a lump sum. This sum
may be deferred for up to five years from the date of
death. During this time, it will continue to accrue
interest at the normal rate for death benefits left on
deposit with Us.
Instead of a lump sum payment the beneficiary may elect
to have the death benefit distributed under a settlement
option. The beneficiary must make this choice within
sixty days of the time We receive due proof of death.
AMOUNT PAYABLE We compute the death benefit at the end of the Valuation
UPON DEATH Period following Our receipt of due proof of death of
the Surviving Insured and the return of this policy.
As long there is positive Net Surrender Value or during
the Grace Period, the death benefit is the greater of:
1. the specified amount on the date of the
Surviving Insured's death, and
2. the cash value on the date of the Surviving
Insured's death multiplied applicable death
benefit factor at the time of death.
The death benefit proceeds equal a. minus b. minus c.,
where:
a. is the death benefit
b. is any monthly deductions due during the grace
period
c. is any Debt.
The initial specified amount and the table of cash value
corridors are shown in the policy specifications. The
specified amount is the initial specified amount, unless
reduced by a withdrawal.
If there is no positive Net Surrender Value, no Debt
outstanding, you paid 100% of the Guideline Single
Premium as your initial Premium, and your policy is not
in the Grace Period, the death benefit will be your
total Premium payments paid, less any withdrawal prior
partial withdrawals of Premium.
DEFERMENT OF DEATH The payment of death benefits in excess of the specified
BENEFITS amount may be deferred: (a) for up to 6 months from the
date requested if these benefits are based upon policy
values which do not depend on the investment performance
of the Separate Account or (b) (1) during any period
when the New York Stock Exchange is closed other than
customary weekend and holiday closings; (2) when
trading in the markets normally utilized is restricted
or an emergency exists as determined by the Securities
and Exchange Commission, so that disposal of
investments or determination of the accumulation unit
value is not practical; or (3) for such other periods
as the Securities and Exchange Commission may permit
for protection of owners.
PREMIUM PROVISIONS
The owner may choose a minimum initial Premium of 90% or
100% of the Guideline Single Premium (based on the
initial specified amount).
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17
Page 6
ADDITIONAL PREMIUM Payment of additional Premium of at least $1,000 will be
permitted under the following circumstances:
1. An additional Premium payment is required to
maintain or reinstate coverage, as described in
the GRACE PERIOD and REINSTATEMENT provisions.
2. The Premium payment would not cause the policy
to fail to meet the definition of a life
insurance under Section 7702 of the Internal
Revenue Code ("Code").
We reserve the right to require satisfactory evidence of
insurability before accepting any additional Premium
that increases the death benefit. Premium which does not
meet the tax qualification guidelines for life insurance
under the Code will not be applied to the policy.
If there is current Debt on the policy, additional
moneys will be considered additional premium, unless You
state otherwise.
PLACE OF PAYMENT All Premiums under this policy must be paid to Us at Our
home office or such other location as We may select. We
will notify You and any other interested parties in
writing of such other locations. Premiums received by an
agent will be allocated to the Subaccounts only after We
receive them.
PREMIUM ALLOCATION If you paid all or a portion of Your initial Premium
before the Issue Date of your Policy, we credit interest
to your initial Premium for the period prior to the
Issue Date at a rate not less than 3% annually. On the
Issue Date (unless the Trade Date is the same as the
Issue Date), we allocate the premium and any
accumulations to the Kemper Money Market Subaccount. The
Subaccount value of the Kemper Money Market Subaccount
will be allocated to the Subaccounts, according to the
Premium allocation shown in the policy specifications,
on the Trade Date. You may temporarily allocate a
portion of Your initial Premium to any single Subaccount
or to our Fixed Account to be transferred to the
Subaccounts under our automatic dollar cost averaging
program. Only initial Premiums may be allocated to the
Fixed Account, and only for the purpose of subsequent
transfers to the Subaccounts under our automatic dollar
cost averaging program. (If the Issue Date is the same
as the Trade Date, the Premium will be immediately
allocated to the Subaccounts).
GRACE PERIOD If the net Surrender Value immediately proceeding a
deduction is less than the monthly deduction for that
month, a grace period of 61 days will be allowed for
the payment, without evidence of insurability, of
Premium payment or loan repayment equal to at least
three monthly deductions.
This grace period will begin on the day We mail notice
of the required payment to Your last known address.
If there is no current Debt on the policy, you paid 100%
of the Guideline Single Premium as your Initial Premium,
and payment is not received within the grace period,
coverage under this policy will remain inforce, but the
amount paid upon death of the insured after the grace
period will be limited to the return of Your total
Premiums paid less any prior partial withdrawals of
premium. The Specified Amount coverage can be restored
according to the REINSTATEMENT provision below.
If there is any Debt on the policy or you paid 90% of
the Guideline Single Premium as your Initial Premium and
payment is not received within the grace period,
coverage under this policy will terminate at the end of
the grace period in accordance with the NONFORFEITURE
provisions.
If death of the Surviving Insured occurs within the
grace period, any amount payable will be reduced by any
unpaid monthly deductions.
REINSTATEMENT If this policy enters insufficient fund value status as
defined on Page 10 below, and has not been surrendered
for its Net Surrender Value, it may be reinstated to the
Specified Amount at any time within 3 years after
entering that status. The policy may also be reinstated
within 3 years of policy lapse if it has not been
surrendered for its Net Surrender Value. If one of the
Lives Insured dies during the lapse, the policy will be
re-issued as a single life permanent policy. Either type
of reinstatement is subject to:
18
1. receipt of evidence of insurability satisfactory
to Us;
2. payment of enough Premium to pay the unpaid
monthly deductions due during the last expired
grace period;
3. payment of a minimum Premium sufficient to keep
this policy in force for three months; and
4. payment of any Debt against this policy which
existed at the date of termination of coverage.
The effective date of reinstatement of a policy will be
the Deduction Day that coincides with or next follows
the date the application for reinstatement is approved
by Us.
The SUICIDE and CONTESTABILITY provisions will apply
from the effective date of reinstatement.
VARIABLE ACCOUNT PROVISIONS
SEPARATE ACCOUNT The variable benefits under this policy are provided
through the KILICO Variable Separate Account. This is
called the Separate Account. The Separate Account is
registered with the Securities and Exchange Commission
as a unit investment trust under the Investment Company
Act of 1940. It is a separate investment account
maintained by Us into which a portion of Our assets has
been allocated for this policy and may be allocated for
certain other policies.
LIABILITIES OF SEPARATE The assets equal to the reserves and other
ACCOUNT liabilities of the Separate Account will not be charged
with liabilities arising out of any other business We
may conduct. If the assets of the Separate Account
exceed the liabilities under the policies supported by
the separate Account, then the excess may be used to
cover the liabilities of Our General Account. We will
value the assets of the Separate Account on each
Valuation Date.
SEPARATE ACCOUNT On any Valuation Date, the Separate Account Value is the
VALUE sum of its Subaccount Values.
SUBACCOUNTS The Separate Account consists of several Subaccounts as
shown in the policy specifications. We may, from time to
time, combine or remove Subaccounts in the Separate
Account and establish additional Subaccounts of the
Separate Account.
In such event, We may permit You to select other
Subaccounts under this policy. However, the right to
select any other Subaccount is limited by the terms and
conditions We may impose such transactions.
SUBACCOUNT VALUE On any Valuation Date, the Subaccount value in a
Subaccount equals:
1. the Subaccount value on the previous Valuation
Date multiplied by the investment experience
factor for the end of the current Valuation
Period; plus
2. any net Premiums received and allocated to the
Subaccount during the current Valuation Period;
plus
3. any amounts transferred to the Subaccount during
the current Valuation Period; minus
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19
Page 8
4. the pro-rata portion of any monthly deduction
charged to the Subaccount when the Valuation
Period includes a Deduction Day; minus
5. any amounts transferred or withdrawn from the
Subaccount during the current Valuation Period;
minus
6. any amounts loaned from the Subaccount during
the current Valuation Period.
FUND Each Subaccount of the Separate Account will buy shares
of an investment company registered under the Investment
Company Act of 1940 as an open-end diversified
management investment company of shares of a separate
series thereof. Each such investment company with or
series represents a separate investment portfolio which
corresponds to one of the Subaccounts of the Separate
Account.
If We establish additional Subaccounts, each new
Subaccount will invest in a new series of the Kemper
Investors Fund or in shares of another investment
company. We may also substitute other investment
companies.
RIGHTS RESERVED BY We reserve the right, subject to compliance with the
current law or as it may be changed in the future:
1. To operate the Separate Account in any form
permitted under the Investment Company Act of
1940 or in any other form permitted by law;
2. To take any action necessary to comply with or
obtain and continue any exemptions from the
Investment Company Act of 1940 or to comply with
any other applicable law;
3. To transfer any assets in any Subaccount to
another Subaccount or to one or more Separate
Accounts, or the General Account, or to add,
combine or remove Subaccounts in the Separate
Account.
4. To delete the shares of any of the portfolios of
the fund or any other open-end investment
company and to substitute, for the fund shares
held in any Subaccount, the shares of another
portfolio of the fund or the shares of another
investment company or any other investment
permitted by law; and
5. To change the way We assess charges, but not to
increase the aggregate amount above that
currently charged to the Separate Account and
the fund in connection with the policies.
When required by law, We will obtain Your approval of
such changes and the approval of any regulatory
authority.
ACCUMULATION UNIT Each Subaccount has an accumulation unit value. When
VALUE Premiums or other amounts are allocated to a Subaccount,
a number of units are purchased based on the
accumulation unit value of the Subaccount at the end of
the Valuation Period during which the allocation is
made. When amounts are transferred out of or deducted
from a Subaccount, units are redeemed in a similar
manner.
The accumulation unit value for each subsequent
Valuation Period is the investment experience factor for
that period multiplied by the accumulation unit value
for the period immediately preceding. Each Valuation
Period has a single accumulation unit value that is
applied to each day in the period. The number of
accumulation units will not change as a result of
investment experience.
20
INVESTMENT EXPERIENCE Each Subaccount has its own investment experience
factor. The investment experience of a Subaccount is
calculated by applying the investment experience factor
to the value in each Subaccount during the Valuation
Period.
The investment experience factor of a Subaccount for a
Valuation Period is determined by dividing 1. by 2. and
subtracting 3. from the result, where:
1. is the net result of:
a. the net asset value per share of the
investment held in the Subaccount
determined at the end of the current
Valuation Period; plus
b. the per share amount of any dividend or
capital gain distributions made by the
investment held in the Subaccount, if
the "ex-dividend" date occurs during
the current Valuation Period; plus or
minus
c. a charge or credit for any taxes
reserved for the current Valuation
Period which We determine resulted from
the investment operations of the
Subaccount;
2. is the net asset value per share of the
investment held in the Subaccount, determined at
the end of the last Valuation Period;
3. is the factor representing the sum of the
Mortality and Expense Risk Charge, stated in the
policy specifications, for the number of days in
the Valuation Period.
NONFORFEITURE PROVISIONS
CASH VALUE The cash value of this policy is equal to the sum of the
Separate Account Value, plus the Loan Account Value,
plus the Fixed Account Value.
MONTHLY DEDUCTION On each Deduction Day, a monthly deduction will be made
equal to the sum of the following:
1. the monthly cost of insurance charge for this
policy; plus
2. the monthly charge for any riders; plus
3. the monthly Administration Charge; plus
4. the monthly Tax Expense Charge.
The monthly deduction will be deducted from the
Subaccounts and Fixed Account in proportion to the value
that each Subaccount and Fixed Account bears to the
Separate Account Value.
COST OF INSURANCE We calculate the cost of insurance on each Deduction
Day.
The maximum cost of insurance charge equals a. times the
result of b. minus c. where:
a. is the maximum cost of insurance rate per $1,000
for the initial specified amount;
b. is the death benefit; and
c. is the cash value.
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21
Page 10
COST OF INSURANCE The cost of insurance rate is based on the insured's
sex, issue age, coverage year, and rate class. The cost
of insurance is also based on whether 90% or 100% of the
Guideline Single Premium has been paid at issue.
Any change in the cost of insurance rate will be on a
uniform basis for all insureds of the same: 1. sex; 2.
attained age at start of coverage; 3. coverage year; and
4. rate class. However, the cost of insurance rates will
not exceed those shown in the Table of Guaranteed
Maximum Monthly Cost of Insurance Rates per $1,000
multiplied by any rate class percent over 100.
These rates are found in the policy specifications.
These rates are based on the Commissioners 1980 Standard
Ordinary Smoker and Nonsmoker Mortality Tables, Age Last
Birthday.
RIDERS The monthly charges for any riders are shown in the
policy specifications.
MORTALITY AND EXPENSE These charges are shown in the policy specifications.
RISK CHARGE, ADMIN-
ISTRATION CHARGE, TAX
CHARGE, AND ANNUAL
RECORDS MAINTENANCE
CHARGE
INSUFFICIENT FUND This policy will enter the insufficient fund value
VALUE STATUS status as provided in the GRACE PERIOD provision if the
Net Surrender Value immediately preceding a deduction
is:
1. insufficient to cover the monthly deduction, and
2. no Premium payment or loan payment sufficient to
cover at least three monthly deductions is
received before the end of the grace period.
Any monthly deduction after entering insufficient fund
value status will not be considered a reinstatement of
this policy.
TRANSFER, WITHDRAWAL
AND LOAN PROVISIONS
TRANSFERS You may direct all or part of one Subaccount's value to
another Subaccount.
Transfers will also be subject to the following
conditions:
1. The minimum amount which may be transferred is
$100 or, if smaller, the remaining value in a
Subaccount;
2. No partial transfer will be made if the
remaining value of any Subaccount will be less
than $500 unless the transfer will eliminate
Your interest in such account;
3. We reserve the right to charge $25 for each
transfer in excess of 12 in a policy year.
Any transfer request must clearly specify:
1. the amount which is to be transferred; and
2. the names of the Subaccounts which are affected.
22
We will only honor a telephone transfer request if a
properly executed telephone transfer authorization is on
file with Us. Such request for a transfer must comply
with the conditions of the authorization.
We reserve the right at any time and without notice to
any party, to terminate, suspend, or modify these
transfer rights.
WITHDRAWALS You may withdraw all or part of the Cash Value that
remains after We subtract any withdrawal charge. We must
receive a written request that indicates the amount of
the withdrawal from each Subaccount. You must return the
policy to Us if You elect a total withdrawal.
Withdrawals are subject to these conditions:
1. Each withdrawal must be at least $100 or the
value that remains in the Subaccount if smaller;
2. A minimum of $500 must remain in the Subaccount
after You make a withdrawal unless the
Subaccount is eliminated by such withdrawal;
3. A minimum of $5,000 must remain in the Separate
Account after You make a withdrawal.
4. The maximum You may withdraw from any Subaccount
is the value of the Subaccount less the amount
of any withdrawal charge.
5. Any withdrawal amount You request will be
increased by the withdrawal charge.
EFFECT OF A The Cash Value will be reduced by the amount of the
WITHDRAWAL withdrawal. The specified amount will be reduced
proportional to the reduction in Cash Value due to the
partial withdrawal. We will not permit a withdrawal if
it will decrease the specified amount to less than the
Minimum Specified Amount stated in the Policy
Specifications.
WITHDRAWAL CHARGES Withdrawal charges are shown in the policy
specifications.
Any amount withdrawn which is not subject to a
withdrawal charge will be considered a "free partial
withdrawal," as referenced in the policy specifications.
POLICY LOANS Policy loans may be made any time. We will lend up to a
maximum loan amount of 90% of the policy's Cash Value
less any applicable withdrawal charges. The amount of
any new loan may not exceed the maximum loan amount less
Debt on the date the loan is granted. The Preferred Loan
portion of a loan will be determined on the date the
loan is made, and will not be subsequently redetermined.
The minimum amount of a loan is $1,000.
On the date the loan is made, an amount equal to the
loan will be transferred from the Subaccounts to the
Loan Account held in the General Account until the loan
is repaid. Unless directed otherwise, the loaned amount
will be deducted from the Subaccount in proportion to
the values that each account bears to the Separate
Account Value. Should the Debt equal or exceed the
Surrender Value, this policy will be subject to the
GRACE PERIOD provisions.
Cash values derived from Premium received by Us in the
form of a check or draft will not be available for loans
until 30 days after deposit of such check or draft.
POLICY LOAN INTEREST The loan interest rate will be [5.50%] per year
compounded daily. Interest not paid will be charged on a
daily basis and will be added to the Debt on this policy
and bear interest at the same rate.
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Page 12
During the existence of a loan, the portion of the Loan
Account Value attributable to a Preferred Loan will earn
[5.50%] per year. The remainder of the Loan Account
Value will earn [3.50%] per year. Interest will be
earned on a daily basis and will be added to the Loan
Account.
If an Internal Revenue Code Section 1035(a) exchange
takes place that has an outstanding loan at the time of
transfer, the difference between the Cash Value and the
total of all Premiums paid under the exchanged policy is
considered a Preferred Loan.
POLICY LOAN REPAYMENT A Debt may be repaid in full or in part at any time
while this policy is in force.
As Debt is paid, the Loan Account Value equal to the
amount of repayment which exceeds the difference between
interest due and interest earned will be allocated to
the Subaccounts according to the then current Premium
allocation instructions. Loan repayments will be
considered repayment of Preferred Loans last.
EFFECTS OF POLICY The Debt on this policy, along with the withdrawal
LOANS charge will reduce the amount LOANS of Cash Value
payable upon surrender. The Debt on this policy will
also reduce the amount of Cash Value available for
withdrawal. The death benefit payable to the beneficiary
upon the death of the Surviving Insured will also be
reduced by the amount of Debt.
TRANSFER, WITHDRAWAL We will redeem the necessary number of accumulation
AND LOAN PROCEDURES units to achieve the dollar amount requested plus any
applicable charges when the withdrawal, transfer or loan
is made form a Subaccount. We will reduce the number of
accumulation units credited in each Subaccount by the
number of accumulation units redeemed. The reduction in
the number of accumulation units is determined based on
the accumulation unit value at the end of the Valuation
Period when We receive the request, provided the request
contains all required information. We will pay the
amount within seven calendar days after the date We
receive the request, except as provided below.
DEFERMENT OF WITH- If the withdrawal, transfer or loan is to be made from a
Subaccount, We may suspend the right of withdrawal or
transfer or delay payment more than seven calendar days:
1. during any period when the New York Stock
Exchange is closed other than customary weekend
and holiday closings;
2. when trading in the markets normally utilized is
restricted, or an emergency exists as determined
by the Securities and Exchange Commission, so
that disposal of investments or determination of
the accumulation unit value is not practical; or
3. for such other periods as the Securities and
Exchange Commission by order may permit for
protection of owners.
SETTLEMENT OPTIONS
The Owner, or beneficiary at the death of the Surviving
Insured, if no election by the Owner is in effect, may
elect to have all of the Net Surrender Value or Death
Benefit of this policy paid in a lump sum or have the
amount applied to one of the settlement options noted
below.
The beneficiary may elect to have the death benefit
distributed as stated in Option 1 for a period not to
exceed the beneficiary's life expectancy; or Options 2,
or 3 based upon the life expectancy of the beneficiary
as prescribed by federal regulations. The beneficiary
must make this choice within sixty days of the time we
receive due proof of death. An option can not be changed
after the first of such payments is made.
Payments must be made to a natural person, referred to
below as "payee." If the beneficiary is not a natural
person, the beneficiary must elect that the entire death
benefit be distributed within five years of your death.
Distribution of the death benefit must start within one
year after your death. It may start later if prescribed
by federal regulations.
24
If the total death benefit proceeds are applied under
one of the annuity options, this contract must be
surrendered to us.
Payments for all options are derived from the applicable
tables. Current annuity rates will be used if they
produce greater payments than those shown in the policy.
The age in the tables is the age of the payee on the
last birthday before the first payment is due.
The option selected must result in a periodic payment
equivalent to at least $20 per month when annuity
payments begin. If the annuity option selected or
otherwise applied should result in a periodic payment
less than the minimum required on the date payments are
scheduled to begin, we reserve the right to make a lump
sum payment in satisfaction of our obligation to the
payee under the policy.
ELECTION OF SETTLEMENT Election of a settlement option may be made by written
OPTION notice to Us.
This election may be made:
1. by You during the lifetime of the insured;
2. by the beneficiary if no election made by You is
in effect at the time of the death of the
insured; or
3. by the beneficiary if You reserve the right to
the beneficiary to change an election upon the
death of the insured. Such change must be made
prior to the first settlement option payment.
An election in effect during the lifetime of the insured
will be revoked by a subsequent change of beneficiary or
an assignment of this policy unless provided otherwise.
OPTION 1
FIXED INSTALLMENT We will make monthly payments for a fixed number of
ANNUITY installments. Payments must be made for at least 5
years, but not more than 30 years. Upon the payee's
death, if the beneficiary is a natural person, we will
automatically continue payments for the remainder of the
certain period to the beneficiary. If the beneficiary is
either an estate or trust we will pay the discounted
value of the remaining payments in the specified period
based on the discount rate stated in the supplemental
contract.
OPTION 2
LIFE ANNUITY We will make monthly payments while the payee is alive.
OPTION 3
LIFE ANNUITY WITHINSTAL-We will make monthly payments for a guaranteed period
MENTS GUARANTEED and thereafter while the payee is alive. The guaranteed
period must be selected at the time the settlement
option is chosen. The guaranteed periods available are
5, 10, 15 and 20 years. If, at the death of the payee,
payments have been made for less than five, ten, fifteen
or twenty years as elected, and the beneficiary is a
natural person, we will automatically continue payments
for the remainder of the elected period to the
beneficiary. If the beneficiary is either an estate or
trust, we will pay the discounted value of the remaining
payments in the specified period based on the discount
rate stated in the supplemental contract.
Page 13
25
Page 14
OPTION 4
JOINT AND SURVIVOR We will pay the full monthly income while both payees
ANNUITY are alive. Upon the death of either payee, we will
continue to pay the surviving payee a percentage of the
original monthly payment. The percentage payable t the
surviving payee must be selected at the time the annuity
option is chosen. The percentages available are 50%, 66
2/3%, 75% and 100%.
OTHER OPTIONS
We may make other settlement options available. Payments
are also available on a quarterly, semi-annual or annual
basis.
VARIABLE PAYOUT If a variable payout option is selected, the monthly
OPTIONS payment will reflect the investment performance of the
Subaccounts in accordance with the allocation of the
lump sum distribution allocated to those Subaccounts.
Allocations will not be changed thereafter, except as
provided in the TRANSFERS DURING THE PAYOUT PERIOD
provision.
The first monthly payment is based on the guaranteed
annuity option shown in the Annuity Option Table.
You may elect any option available.
The dollar amount of the subsequent payments may
increase or decrease depending on the investment
experience of each Subaccount. The number of annuity
units per payments will remain fixed for each
Subaccount.
The number of annuity units for each Subaccount is
calculated by dividing a. by b. where:
a. is the portion of the initial monthly payment
that can be attributed to that Subaccount; and
b. is the annuity unit value for that Subaccount at
the end of the Valuation Period. The Valuation
Period includes the date on which the payment is
made.
Monthly payments, after the first payment, are
calculated by summing up, for each Subaccount, the
product of a. times b. where:
a. is the number of annuity units per payment in
each Subaccount; and
b. is the annuity unit value for that Subaccount at
the end of the Valuation Period. The Valuation
Period includes the date on which the payment is
made.
After the first payment, we guarantee that the dollar
amount of each payment will not be affected adversely by
actual expenses or changes in mortality experience from
the expense and mortality assumptions on which we based
the first payment.
ANNUITY UNIT VALUE The value of an annuity unit for each Subaccount at the
end of any subsequent Valuation Period is determined by
multiplying the result of a. times b. by c.
a. is the annuity unit value for the immediately
preceding Valuation Period; and
b. is the net investment factor for the Valuation
Period for which the annuity unit value is being
calculated; and
c. is the interest factor of .99993235 per calendar
day of such subsequent Valuation Period to
offset the effect of the assumed rate of 2.50%
per year used in the Annuity Option Table.
26
The net investment factor for each Subaccount for any
Valuation Period is determined by dividing a. by b.
where:
a. is the value of an annuity unit of the
applicable Subaccount as of the end of the
current Valuation Period plus or minus the per
share credit or charge for taxes reserved; and
b. is the value of an annuity unit of the
applicable Subaccount as of the end of the
immediately preceding Valuation Period, plus or
minus the per share credit or charge for taxes
reserved.
FIXED PAYOUT OPTION If a fixed payout option is chosen, your payment will be
fixed in amount throughout the payout period. We
determine the amount of your fixed annuity payment by
multiplying the amount applied to the option by a rate
determined by Us which is not less than the rate
specified in the Settlement Option Tables below. The
amount of the payment will not change throughout the
payout period.
TRANSFERS DURING During the payout period, the payee may choose to
THE PAYOUT PERIOD change the Subaccounts or the relative weighting of the
Subaccounts on which variable payments are based, or the
relative proportions of fixed and variable payments.
A transfer may be made subject to the following:
1. The payee must send us a written notice in a
form satisfactory to us;
2. One transfer is permitted each twelve month
period from the date of the first annuity
payment. We must receive notice of any such
transfer at least thirty days prior to the
effective date of the transfer;
3. A payee may not base variable payments on more
than three Subaccounts after any transfer;
4. At least $1,000 of annuity unit value or annuity
reserve value must be transferred from a
Subaccount or from the General Account; and
5. At least $1,000 of annuity unit value or annuity
reserve value must remain in the account from
which the transfer was made.
When a transfer is made between Subaccounts, the number
of annuity units per payment attributable to a
Subaccount to which a transfer is made is equal to a.
multiplied by b. divided by c., where:
a. is the number of annuity units per payment in
the Subaccount from which transfer is being
made;
b. is the annuity unit value for the Subaccount
from which the transfer is being made; and
c. is the annuity unit value for the Subaccount to
which transfer is being made.
When a transfer is made from the General Account to a
Subaccount, the number of annuity units per payment
attributable to a Subaccount to which transfer is made
is equal to a. divided by b. divided by c., where:
a. is the General Account annuity value being
transferred; and
b. is the present value of $1.00 per payment period
using the attained age(s) of the payee(s) and
any remaining guaranteed payments that may be
due at the time of the transfer; and
c. is the annuity unit value for the Subaccount to
which the transfer is being made.
The General Account annuity value equals the present
value of the remaining fixed annuity payments using the
same interest and mortality basis used to calculated the
fixed annuity payments.
Page 15
27
Page 16
The amount of money allocated to the General Account in
case of a transfer from a Subaccount equals the annuity
reserve for the Payee's interest in such Subaccount. The
annuity reserve is the product of a. multiplied by b.
multiplied by c. where:
a. is the number of annuity un its representing the
Payee's interst in such Subaccount per annuity
payment;
b. is the annuity unit value for such Subaccount;
and
c. is the present value of $1.00 per payment period
using the attained age(s) of the Payee(s) and
any remaining guaranteed payemtns that may be
due at the time of the transfer.
Money allocated to the General Account upon such
transfer will be applied under the same annuity payout
option as originally elected. Guaranteed period payments
will be adjusted to reflect the number of guaranteed
payments have already been made, no further payments
will be guaranteed.
All amounts and annuity unit values are determined as of
the end of the Valuation Period preceding the effective
date of the transfer.
We reserve the right at any time and without notice to
any party to terminate, suspend or modify these transfer
privileges.
SUPPLEMENTARY A supplementary agreement will be issued to reflect
AGREEMENT payments that will be made under a settlement option. If
payment is made as a death benefit distribution, the
effective date will be the date of death. Otherwise, the
effective date will be the date chosen by the Owner.
DATE OF FIRST PAYMENT The effective date under an option will be the date o
death. Interest will start to accrue on the effective
date. If the normal effective date is the 29th, 30th, or
31st of the month, the effective date will be the 28th
day of the that month.
EVIDENCE OF AGE, SEX We may require satisfactory evidence of the age, sex and
AND SURVIVAL the continued survival of any person on whose life the
income is based.
MISSTATEMENT OF AGE If the age or sex of the payee has been misstated, the
OR SEX amount payable under the annuity option selected will be
such as the lump sum applied would have purchased at the
correct age or sex. Interest not to exceed 6% compounded
each year will be charged to any overpayment or credited
to any underpayment against future payments We may make
under the supplementary agreement for the option
selected.
BASIS OF ANNUITY The guaranteed payments are based on an interest rate of
OPTIONS 2.50% per year and, where mortality is involved, the
"1983 Table a" individual annuity mortality table
developed by the Society of Actuaries, projected using
Projection Scale G. We may also make available variable
annuity payment options based on assumed investment
rates other than 2.50%.
CREDITORS The proceeds of this policy and any payment under an
annuity option will be exempt from the claim of
creditors and from legal process to the extent permitted
by law.
28
ANNUITY OPTION TABLE
AMOUNT OF MONTHLY PAYMENT FOR EACH $1,000 OF VALUE APPLIED
OPTION ONE - FIXED INSTALLMENT ANNUITY
Number Number Number Number
of years Monthly of years Monthly of years Monthly of years Monthly
selected Payment selected Payment selected Payment selected Payment
- -----------------------------------------------------------------------------------------------
5 17.69 12 8.01 19 5.48 26 4.33
6 14.92 13 7.48 20 5.27 27 4.22
7 12.94 14 7.03 21 5.08 28 4.11
8 11.46 15 6.64 22 4.90 29 4.02
9 10.31 16 6.29 23 4.74 30 3.92
10 9.39 17 5.99 24 4.59
11 8.64 18 5.72 25 4.46
OPTIONS TWO AND THREE - LIFE ANNUITY WITH INSTALLMENTS GUARANTEED
MONTHLY PAYMENTS GUARANTEED
AGE NONE 60 120 180 240
55 4.02 4.01 3.99 3.94 3.86
56 4.11 4.10 4.07 4.01 3.92
57 4.20 4.19 4.15 4.09 3.99
58 4.29 4.28 4.24 4.17 4.05
59 4.39 4.38 4.33 4.25 4.12
60 4.50 4.48 4.43 4.34 4.19
61 4.61 4.59 4.53 4.43 4.26
62 4.73 4.71 4.64 4.52 4.33
63 4.86 4.84 4.76 4.61 4.40
64 5.00 4.97 4.88 4.71 4.47
65 5.15 5.11 5.01 4.81 4.54
66 5.30 5.26 5.14 4.92 4.61
67 5.47 5.43 5.28 5.02 4.68
68 5.65 5.60 5.43 5.13 4.74
69 5.84 5.78 5.58 5.24 4.80
70 6.05 5.97 5.74 5.35 4.86
71 6.27 6.18 5.90 5.46 4.91
72 6.50 6.40 6.07 5.56 4.96
73 6.76 6.63 6.25 5.67 5.01
74 7.03 6.88 6.43 5.77 5.05
75 7.32 7.14 6.62 5.87 5.09
76 7.64 7.42 6.80 5.96 5.12
77 7.98 7.72 6.99 6.05 5.15
78 8.34 8.03 7.18 6.13 5.17
79 8.73 8.36 7.37 6.20 5.19
80 9.16 8.70 7.56 6.27 5.21
81 9.61 9.06 7.74 6.33 5.23
82 10.10 9.44 7.91 6.38 5.24
83 10.63 9.83 8.08 6.43 5.25
84 11.19 10.23 8.24 6.47 5.25
85 11.80 10.64 8.38 6.50 5.26
OPTION FOUR - JOINT AND 100% SURVIVOR ANNUITY
Age of Age of Secondary Payee
Primary
Payee 55 60 65 70 75 80 85
55 3.51 3.64 3.76 3.85 3.92 3.96 3.99
60 3.64 3.84 4.02 4.18 4.29 4.38 4.43
65 3.76 4.02 4.29 4.54 4.75 4.90 5.00
70 3.85 4.18 4.54 4.91 5.25 5.53 5.74
75 3.92 4.29 4.75 5.25 5.77 6.26 6.64
80 3.96 4.38 4.90 5.53 6.26 7.00 7.69
85 3.99 4.43 5.00 5.74 6.64 7.69 8.76
Rates for ages not shown here will be provided upon request.
29
ANNUITY OPTION TABLE
AMOUNT OF MONTHLY PAYMENT FOR EACH $1,000 OF VALUE APPLIED
OPTION ONE - FIXED INSTALLMENT ANNUITY
Number Number Number Number
of years Monthly of years Monthly of years Monthly of years Monthly
selected Payment selected Payment selected Payment selected Payment
- -------------- ----------- -- ------------ --------------- -------------- -------------- - --------------- ----------------
5 17.69 12 8.01 19 5.48 26 4.33
6 14.92 13 7.48 20 5.27 27 4.22
7 12.94 14 7.03 21 5.08 28 4.11
8 11.46 15 6.64 22 4.90 29 4.02
9 10.31 16 6.29 23 4.74 30 3.92
10 9.39 17 5.99 24 4.59
11 8.64 18 5.72 25 4.46
OPTION TWO AND THREE - LIFE ANNUITY WITH INSTALLMENTS GUARANTEED:
Age of MONTHLY PAYMENTS GUARANTEED Age of MONTHLY PAYMENTS GUARANTEED
Male Female
Payee NONE 60 120 180 240 Payee NONE 60 120 180 240
55 4.17 4.16 4.13 4.06 3.96 55 3.87 3.86 3.84 3.81 3.75
56 4.27 4.25 4.21 4.14 4.03 56 3.95 3.94 3.92 3.88 3.82
57 4.36 4.35 4.30 4.22 4.09 57 4.03 4.02 4.00 3.95 3.88
58 4.46 4.45 4.40 4.30 4.16 58 4.11 4.11 4.08 4.03 3.95
59 4.57 4.55 4.50 4.39 4.22 59 4.21 4.20 4.17 4.11 4.01
60 4.69 4.67 4.60 4.48 4.29 60 4.30 4.29 4.26 4.19 4.08
61 4.81 4.79 4.71 4.57 4.36 61 4.41 4.40 4.35 4.28 4.15
62 4.94 4.92 4.83 4.66 4.43 62 4.52 4.50 4.46 4.37 4.23
63 5.09 5.05 4.95 4.76 4.49 63 4.64 4.62 4.56 4.46 4.30
64 5.24 5.20 5.08 4.86 4.56 64 4.76 4.74 4.68 4.56 4.37
65 5.40 5.35 5.21 4.96 4.62 65 4.90 4.87 4.80 4.66 4.45
66 5.57 5.52 5.35 5.06 4.69 66 5.04 5.01 4.93 4.77 4.52
67 5.75 5.69 5.49 5.17 4.75 67 5.19 5.16 5.06 4.87 4.59
68 5.95 5.87 5.64 5.27 4.81 68 5.36 5.32 5.20 4.98 4.66
69 6.15 6.07 5.80 5.37 4.86 69 5.53 5.49 5.35 5.10 4.73
70 6.38 6.27 5.96 5.48 4.91 70 5.72 5.68 5.51 5.21 4.80
71 6.61 6.49 6.12 5.58 4.96 71 5.93 5.87 5.67 5.33 4.86
72 6.86 6.72 6.29 5.68 5.00 72 6.15 6.08 5.85 5.44 4.92
73 7.13 6.96 6.47 5.77 5.04 73 6.39 6.31 6.03 5.56 4.97
74 7.42 7.21 6.64 5.86 5.08 74 6.65 6.55 6.21 5.67 5.02
75 7.72 7.48 6.82 5.95 5.11 75 6.93 6.81 6.41 5.78 5.06
76 8.05 7.76 7.00 6.03 5.14 76 7.24 7.08 6.60 5.88 5.10
77 8.40 8.06 7.18 6.11 5.17 77 7.57 7.38 6.80 5.98 5.13
78 8.77 8.37 7.35 6.18 5.19 78 7.92 7.69 7.01 6.07 5.16
79 9.18 8.69 7.53 6.25 5.20 79 8.31 8.02 7.21 6.15 5.18
80 9.60 9.03 7.70 6.31 5.22 80 8.72 8.37 7.41 6.23 5.20
81 10.06 9.38 7.86 6.36 5.23 81 9.17 8.74 7.61 6.30 5.22
82 10.55 9.74 8.02 6.41 5.24 82 9.66 9.13 7.80 6.35 5.23
83 11.07 10.12 8.17 6.45 5.25 83 10.20 9.54 7.98 6.41 5.24
84 11.63 10.50 8.32 6.49 5.26 84 10.77 9.96 8.15 6.45 5.25
85 12.22 10.89 8.45 6.52 5.26 85 11.39 10.40 8.31 6.49 5.26
OPTION FOUR - JOINT AND 100% SURVIVOR ANNUITY
Age of Age of Female Payee
Male
Payee 55 60 65 70 75 80 85
55 3.49 3.66 3.81 3.93 4.02 4.08 4.12
60 3.61 3.83 4.05 4.24 4.40 4.52 4.59
65 3.69 3.97 4.28 4.57 4.84 5.05 5.20
70 3.76 4.09 4.47 4.89 5.31 5.67 5.95
75 3.80 4.17 4.63 5.16 5.75 6.34 6.83
80 3.83 4.23 4.73 5.37 6.14 6.99 7.80
85 3.84 4.26 4.80 5.51 6.44 7.55 8.75
Rates for ages not shown here will be provided upon request.
30
SURVIVORSHIP, MODIFIED SINGLE PREMIUM VARIABLE UNIVERSAL LIFE INSURANCE POLICY
PAYABLE ON THE SECOND DEATH
NON-PARTICIPATING
TO THE EXTENT ALLOCATIONS ARE MADE TO THE SUBACCOUNTS, THE CASH VALUE IS BASED
ON THE INVESTMENT EXPERIENCE OF THE SUBACCOUNTS AND MAY INCREASE OR DECREASE
DAILY. THIS AMOUNT IS NOT GUARANTEED. THE AMOUNTS, OR DURATION OF THE DEATH
BENEFIT MAY VARY UNDER THE CONDITIONS DESCRIBED IN THE DEATH BENEFIT AND
TERMINATION PROVISIONS.
This is a legal contract between the owner and Kemper Investors Life Insurance
Company.
READ YOUR POLICY CAREFULLY.
KEMPER INVESTORS LIFE INSURANCE COMPANY
1 Kemper Drive, Long Grove, Illinois 60049-0001