Transamerica Advisor EliteSM II

108 Pages·2015·1.08 MB·English

Transamerica Advisor EliteSM II
Prospectus May 2015
A Flexible Premium Variable Annuity
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Annuities issued in all states except New York by Transamerica Life Insurance Company, Cedar
Rapids, IA and in New York by Transamerica Financial Life Insurance Company, Harrison, NY.
Annuities are underwritten and distributed by Transamerica Capital, Inc. References to
Transamerica may pertain to one or all of these companies.
Not insured by FDIC or any federal government agency. May lose value. Not a deposit of or guaranteed by any bank, bank affiliate, or credit union.
Signing up is Simple
If you are an existing online account holder visit www.transamerica.com
and log-in to your account and follow the instructions for eDelivery setup.
If you have any questions about eDelivery or account setup,
please contact our Customer Care Group at 1-800-525-6205.
TRANSAMERICA ADVISOR ELITESM II
TransamericaLifeInsuranceCompany TransamericaFinancialLifeInsuranceCompany
SeparateAccountVAB(EST.1/19/1990) SeparateAccountVABNY(EST.9/27/1994)
4333EdgewoodRoadNE 4333EdgewoodRoadNE
CedarRapids,Iowa52499-0001 CedarRapids,Iowa52499-0001
[phone] [phone]
www.transamerica.com www.transamerica.com
ThisprospectusdescribesinformationyoushouldknowbeforeyoupurchaseaTransamericaAdvisorEliteSMIIvariableannuity.The
prospectusdescribesacontractbetweeneachownerandjointowner(“you”)andTransamericaLifeInsuranceCompanyor
TransamericaFinancialLifeInsuranceCompany(“us,”“we,”“our”or“Company”).Thisisanindividual,deferred,flexiblepremium
variableannuity.Thisvariableannuityallowsyoutoallocateyourpremiumpaymentsamongthefixedaccount(ifavailable)andthe
underlyingfundportfolios.
Thisprospectusandtheunderlyingfundprospectusesgiveyouimportantinformationaboutthepoliciesandtheunderlyingfund
portfolios.Pleasereadthemcarefullybeforeyouinvestandkeepthemforfuturereference.YoucanalsocontactustogetaStatement
ofAdditionalInformation(SAI)freeofcharge.TheSAIcontainsmoreinformationaboutthispolicy.Aregistrationstatement,
includingtheSAI,hasbeenfiledwiththeSecuritiesandExchangeCommission(SEC)andtheSAIisincorporatedhereinby
reference.TheprospectusandSAIcanalsobeobtainedfromtheSEC’swebsite(www.sec.gov).ThetableofcontentsoftheSAIis
includedattheendofthisprospectus.TheSecuritiesandExchangeCommissionhasnotapprovedordisapprovedthese
securities,orpassedupontheadequacyofthisprospectus.Anyrepresentationtothecontraryisacriminaloffense.
Thisvariableannuitymaynotbesuitableforeveryone.Thisvariableannuitymaynotbeappropriateforpeoplewhodonothavea
longinvestmenttimehorizonandisnotappropriateforpeoplewhointendtoengageinmarkettimingorotherfrequent(disruptive)
trading.Youwillgetnoadditionaltaxadvantagefromthisvariableannuityifyouareinvestinginavariableannuitythrougha
tax-advantagedretirementplan(suchasa401(k)planorIndividualRetirementAccount(“IRA”)).Thisprospectusisnotintendedto
providetax,accountingorlegaladvice.
WearenotaninvestmentadvisernorareweregisteredassuchwiththeSECoranystatesecuritiesregulatoryauthority.Wearenot
actinginanyfiduciarycapacitywithrespecttoyourpolicynorareweactinginanycapacityonbehalfofanytax-advantaged
retirementplan.Thisinformationdoesnotconstitutepersonalizedinvestmentadviceorfinancialplanningadvice.
ProspectusDate:May1,2015
StatementofAdditionalInformationDate:May1,2015
NOT INSURED BY FDIC OR ANY MAY LOSE FDIC NOT A DEPOSIT OF OR
FEDERAL GOVERNMENT AGENCY VALUE BANK GUARANTEED BY ANY BANK
Thesubaccountsavailableunderthispolicyinvestinthefollowingunderlyingfundportfolios:
SUBACCOUNT UNDERLYINGFUNDPORTFOLIO
ABBalancedWealthStrategyPortfolio-ClassB ABBalancedWealthStrategyPortfolio-ClassB
AmericanFunds-AssetAllocationFundSM-Class2 AmericanFunds-AssetAllocationFundSM-Class2
AmericanFunds-BondFundSM-Class2 AmericanFunds-BondFundSM-Class2
AmericanFunds-GrowthFundSM-Class2 AmericanFunds-GrowthFundSM-Class2
AmericanFunds-Growth-IncomeFundSM-Class2 AmericanFunds-Growth-IncomeFundSM-Class2
AmericanFunds-InternationalFundSM-Class2 AmericanFunds-InternationalFundSM-Class2
FidelityVIPBalancedPortfolio-ServiceClass2 FidelityVIPBalancedPortfolio-ServiceClass2
FidelityVIPContrafund®Portfolio-InitialClass FidelityVIPContrafund®Portfolio-InitialClass
FidelityVIPMidCapPortfolio-InitialClass FidelityVIPMidCapPortfolio-InitialClass
FidelityVIPValueStrategiesPortfolio-InitialClass FidelityVIPValueStrategiesPortfolio-InitialClass
GEInvestmentsTotalReturnFund-Class3 GEInvestmentsTotalReturnFund-Class3
TAAegonHighYieldBond-InitialClass TransamericaAegonHighYieldBondVP – InitialClass
TAAegonMoneyMarket-ServiceClass TransamericaAegonMoneyMarketVP – ServiceClass
TAAegonTacticalVanguardETF-Balanced-ServiceClass TransamericaAegonActiveAssetAllocation-ModerateVP-ServiceClass
TAAegonTacticalVanguardETF-Conservative-ServiceClass TransamericaAegonActiveAssetAllocation-ConservativeVP-ServiceClass
TAAegonTacticalVanguardETF-Growth-ServiceClass TransamericaAegonActiveAssetAllocation-ModerateGrowthVP-Service
Class
TAAegonU.S.GovernmentSecurities-ServiceClass TransamericaAegonU.S.GovernmentSecuritiesVP – ServiceClass
TAABDynamicAllocation-ServiceClass TransamericaABDynamicAllocationVP-ServiceClass
TAAmericanFundsManagedRisk-Balanced-ServiceClass TransamericaAmericanFundsManagedRiskVP-ServiceClass
TAAssetAllocation-Conservative-ServiceClass TransamericaAssetAllocation-ConservativeVP – ServiceClass
TAAssetAllocation-Growth-ServiceClass TransamericaAssetAllocation-GrowthVP – ServiceClass
TAAssetAllocation-Moderate-ServiceClass TransamericaAssetAllocation-ModerateVP – ServiceClass
TAAssetAllocation-ModerateGrowth-ServiceClass TransamericaAssetAllocation-ModerateGrowthVP – ServiceClass
TABarrowHanleyDividendFocused-InitialClass TransamericaBarrowHanleyDividendFocusedVP – InitialClass
TABlackRockGlobalAllocation-ServiceClass TransamericaBlackRockGlobalAllocationVP-ServiceClass
TABlackRockGlobalAllocationManagedRisk-Balanced-ServiceClass TransamericaBlackRockGlobalAllocationManagedRisk-BalancedVP-
ServiceClass
TABlackRockGlobalAllocationManagedRisk-Growth-ServiceClass TransamericaBlackRockGlobalAllocationManagedRisk-GrowthVP-Service
Class
TABlackRockTacticalAllocation-ServiceClass TransamericaBlackRockTacticalAllocationVP-ServiceClass
TAClarionGlobalRealEstateSecurities-InitialClass TransamericaClarionGlobalRealEstateSecuritiesVP – InitialClass
TAInternationalModerateGrowth-ServiceClass TransamericaInternationalModerateGrowthVP – ServiceClass
TAJPMorganCoreBond-ServiceClass TransamericaJPMorganCoreBondVP-ServiceClass
TAJPMorganEnhancedIndex-InitialClass TransamericaJPMorganEnhancedIndexVP – InitialClass
TAJPMorganMidCapValue-ServiceClass TransamericaJPMorganMidCapValueVP–ServiceClass
TAJPMorganTacticalAllocation-ServiceClass TransamericaJPMorganTacticalAllocationVP-ServiceClass
TAJanusBalanced-ServiceClass TransamericaJanusBalancedVP–ServiceClass
TAJennisonGrowth-InitialClass TransamericaJennisonGrowthVP – InitialClass
TALeggMasonDynamicAllocation-Balanced-ServiceClass TransamericaLeggMasonDynamicAllocation-BalancedVP-ServiceClass
TALeggMasonDynamicAllocation-Growth-ServiceClass TransamericaLeggMasonDynamicAllocation-GrowthVP-ServiceClass
TAMFSInternationalEquity-InitialClass TransamericaMFSInternationalEquityVP – InitialClass
TAMarketParticipationStrategy-ServiceClass TransamericaMarketParticipationStrategyVP-ServiceClass
ii
SUBACCOUNT UNDERLYINGFUNDPORTFOLIO
TAMorganStanleyMid-CapGrowth-InitialClass TransamericaMorganStanleyMid-CapGrowthVP – InitialClass
TAMulti-ManagedBalanced-ServiceClass TransamericaMulti-ManagedBalancedVP – ServiceClass
TAMulti-ManagerAlternativeStrategies TransamericaMulti-ManagerAlternativeStrategiesVP
TAPineBridgeInflationOpportunities-ServiceClass TransamericaPineBridgeInflationOpportunitiesVP-ServiceClass
TAPIMCOTactical-Balanced-ServiceClass TransamericaPIMCOTactical–BalancedVP–ServiceClass
TAPIMCOTactical-Conservative-ServiceClass TransamericaPIMCOTactical–ConservativeVP–ServiceClass
TAPIMCOTactical-Growth-ServiceClass TransamericaPIMCOTactical–GrowthVP–ServiceClass
TAPIMCOTotalReturn-ServiceClass TransamericaPIMCOTotalReturnVP – ServiceClass
TASystematicSmall/MidCapValue-InitialClass TransamericaSystematicSmall/MidCapValueVP-InitialClass
TAT.RowePriceSmallCap-InitialClass TransamericaT.RowePriceSmallCapVP – InitialClass
TATS&WInternationalEquity-InitialClass TransamericaTS&WInternationalEquityVP – InitialClass
TATorrayConcentratedGrowth-InitialClass TransamericaTorrayConcentratedGrowthVP-InitialClass
TAVanguardETF-Balanced-ServiceClass TransamericaVanguardETFPortfolio-BalancedVP-ServiceClass
TAVanguardETF-Conservative-ServiceClass TransamericaVanguardETFPortfolio-ConservativeVP-ServiceClass
TAVanguardETF-Growth-ServiceClass TransamericaVanguardETFPortfolio-GrowthVP-ServiceClass
TAWMCUSGrowth-InitialClass TransamericaWMCUSGrowthVP – InitialClass
EquityIndexPortfolio EquityIndexPortfolio
InternationalPortfolio InternationalPortfolio
Mid-CapIndexPortfolio Mid-CapIndexPortfolio
REITIndexPortfolio REITIndexPortfolio
Short-TermInvestment-GradePortfolio Short-TermInvestment-GradePortfolio
TotalBondMarketIndexPortfolio TotalBondMarketIndexPortfolio
WangerInternational WangerInternational
WangerUSA WangerUSA
iii
TABLE OF CONTENTS
INTRODUCTION ______________________ 1 TelephoneandElectronicTransactions_________ 34
DollarCostAveragingProgram _____________ 34
FEETABLEANDEXPENSEEXAMPLES_______ 2
AssetRebalancing _____________________ 35
THEANNUITY ________________________ 6
GuaranteedLifetimeWithdrawalBenefits_______ 35
PURCHASE___________________________ 6 GuaranteedPrincipalSolutionSMRider ________ 35
PolicyIssueRequirements_________________ 6 RetirementIncomeMax®Rider_____________ 42
PremiumPayments_____________________ 6 RetirementIncomeChoice®1.6Rider_________ 48
PolicyValue _________________________ 8
OTHERINFORMATION _________________ 56
INVESTMENTOPTIONS_________________ 8 StateVariations _______________________ 56
SelectionofUnderlyingFundPortfolios ________ 8 Ownership__________________________ 57
Addition,Deletion,orSubstitutionofInvestment
Beneficiary__________________________ 57
Options _________________________ 9
RighttoCancelPeriod __________________ 57
TheFixedAccount_____________________ 9
Assignment _________________________ 57
Transfers ___________________________ 10
TerminationforLowValue________________ 58
MarketTimingandDisruptiveTrading_________ 10
SendingFormsandTransactionRequestsinGood
InvestmentRestrictions __________________ 13 Order___________________________ 58
EXPENSES____________________________ 13 RegulatoryModificationstoPolicy ___________ 58
ExcessInterestAdjustment ________________ 13 CertainOffers________________________ 58
MortalityandExpenseRiskFees_____________ 13 MixedandSharedFunding________________ 58
PremiumTaxes _______________________ 13 Exchangesand/orReinstatements____________ 59
Federal,StateandLocalTaxes ______________ 14 VotingRights ________________________ 59
SpecialServiceFees_____________________ 14 AbandonedorUnclaimedProperty___________ 59
TransferFee _________________________ 14 LegalProceedings______________________ 59
ServiceCharge _______________________ 14 CyberSecurity _______________________ 60
AdministrativeCharges __________________ 14 InformationAboutUs___________________ 60
FundFacilitationFee____________________ 14 FinancialCondition ____________________ 60
OptionalBenefits______________________ 14 TheSeparateAccount___________________ 61
PortfolioFeesandExpenses________________ 14 TheFunds__________________________ 61
ReducedFeesandCharges ________________ 14 OtherTransamericaPolicies _______________ 61
RevenueWeReceive____________________ 14 DistributionofthePolicies________________ 62
ACCESSTOYOURMONEY _______________ 16 TABLEOFCONTENTSOFTHESTATEMENT
Surrenders__________________________ 16 OFADDITIONALINFORMATION ________ 63
DelayofPaymentandTransfers _____________ 17 GLOSSARYOFTERMS___________________ 64
ExcessInterestAdjustment ________________ 17 APPENDIX
SignatureGuarantee____________________ 18 UNDERLYINGFUNDPORTFOLIOS
ASSOCIATEDWITHTHE
ANNUITYPAYMENTS(THEINCOMEPHASE) _ 18
SUBACCOUNTS __________________ 66
AnnuityPaymentOptions ________________ 18
APPENDIX
DEATHBENEFIT_______________________ 20
DESIGNATEDINVESTMENTOPTIONS ___ 70
WhenWePayADeathBenefit _____________ 20
APPENDIX
WhenWeDoNotPayADeathBenefit ________ 21
CONDENSEDFINANCIALINFORMATION_ 72
DeathsAftertheAnnuityCommencementDate___ 21
APPENDIX
SuccessionofOwnership _________________ 21 EXCESSINTERESTADJUSTMENT
SpousalContinuation ___________________ 21 EXAMPLES ______________________ 78
AmountofDeathBenefit_________________ 22 APPENDIX
GuaranteedMinimumDeathBenefit__________ 22 DEATHBENEFIT____________________ 81
AdjustedPartialSurrender ________________ 23 APPENDIX
TAXINFORMATION ____________________ 23 ADDITIONALDEATHDISTRIBUTION
RIDER _________________________ 83
ADDITIONALFEATURES ________________ 32
APPENDIX
SystematicPayoutOption ________________ 32
ADDITIONALDEATHDISTRIBUTION+
AdditionalDeathDistribution______________ 32
RIDER _________________________ 84
AdditionalDeathDistribution+_____________ 33
iv
TABLE OF CONTENTS continued
APPENDIX APPENDIX
GUARANTEEDLIFETIMEWITHDRAWAL HYPOTHETICALEXAMPLEOFTHE
BENEFITCOMPARISONTABLE_______ 85 WITHDRAWALBASECALCULATION-
APPENDIX RETIREMENTINCOMEMAX®RIDER__ 99
GUARANTEEDPRINCIPALSOLUTIONSM
RIDERADJUSTEDPARTIAL
WITHDRAWALS __________________ 88
APPENDIX
PAMMETHODTRANSFERS____________ 93
APPENDIX
HYPOTHETICALADJUSTEDPARTIAL
SURRENDERS-GUARANTEED
LIFETIMEWITHDRAWALBENEFIT
RIDERS_________________________ 95
v
INTRODUCTION
Howtobuythisvariableannuity
√ CHOOSE BETWEEN QUALIFIED AND NON-QUALIFIED(1)
Non-QualifiedPolicy(4) Mortality&Expense
QualifiedPolicy(2,3) MinimumInitial Surrender Riskand
MinimumInitialDeposit Deposit ChargePeriod AdministrativeCharges
AdvisorEliteII $1,000 $5,000 0years 0.45%
(1) Thistabledoesnotshowunderlyingfundportfolioexpenses,annualservicechargeandoptionalriderfees.Thisvariableannuitymaynotbe
availablethroughyourfinancialintermediary.
(2) Wecurrentlyissuenewpoliciestothefollowingplans:TraditionalIRAs,RothIRAs,SIMPLEIRAs,SEP-IRAs,457(f)plans(incertain
circumstances)andSection401(a)plans(includingprofitsharingplans,definedbenefitpensionplans,definedcontributionpensionplans,
401(k)plans,combinationdefinedbenefit/contributionplans).
(3) Includesanticipatedpremiumattimeofapplicationfromtransfersorrolloversasindicatedonyourapplicationorelectronicorderform.
(4) Includesanticipatedpremiumattimeofapplicationfrom1035exchangesasindicatedonyouapplicationorelectronicorderform.
√
CHOOSE INVESTMENT OPTIONS
• Subaccounts-Fundsrepresentingarangeofinvestmentstrategies,objectivesandassetclasses.
• FixedAccount-Afixedinterestaccount(ifavailable).
Subjecttolimitations,youmaymoveyourpolicyvalueamongeachoftheseinvestmentoptions.
√
CHOOSE OPTIONAL GUARANTEED BENEFITS (IF DESIRED)
LifetimeWithdrawalBenefits GuaranteedPrincipalSolutionSM(1,2)
RetirementIncomeMax®(1)
RetirementIncomeChoice®1.6(1,3)
DeathBenefits ReturnofPremium(1)
AnnualStep-Up(1)
AdditionalDeathDistribution(1)
AdditionalDeathDistribution+(1)
(1) Investmentorotherrestrictionsmayapply.
(2) Alsoincludesanaccumulationbenefit.
(3) Alsoincludesanoptionaldeathbenefit.
Additionalfeesapply.Optionalbenefitsmaynotbeavailableforallpolicies,inallstates,atalltimesorthroughallfinancialintermediaries.
√
COMPLETE OUR APPLICATION OR ORDER FORM
√
PAYTHE APPLICABLE MINIMUM INITIAL DEPOSIT
1
FEE TABLE AND EXPENSE EXAMPLES
Thefollowingdescribesthefeesandexpensesthatyouwillpaywhenbuying,owning,andsurrenderingthepolicy.Pleasebecertain
toreviewthenotesfollowingthefeetableandexpenseexamplesforfurtherinformationaboutthefeesandchargespresented.
Theorderofthenotesfollowstheorderinwhichthefeesandchargesunderthepolicyarepresentedinthefeetablesandtheexpense
examples.
Thefeetableappliesonlytotheaccumulationphaseandreflectsthemaximumchargesunlessotherwisenoted.Duringtheincome
phasethefeesmaybedifferentthanthosedescribedintheFeeTable.SeeEXPENSES.
Thefirstsectiondescribesthefeesandexpensesthatyouwillpayatthetimethatyoubuythepolicy,surrenderthepolicy,ortransfer
cashvaluebetweeninvestmentoptions.Statepremiumtaxesmayalsobededucted.Statepremiumtaxescurrentlyrangefrom0%-
3.5%.Excessinterestadjustmentsmaybemadetoamountssurrendered,transferredorappliedtoannuitypaymentoptionsfromcash
valuefromthefixedaccount.(Allfeesaremaximumforpurchasesmadewhilethisprospectusiseffectiveunlessotherwisenoted.)
OwnerTransactionExpenses:
Front-EndSalesLoadOnPurchasePayments 0%
ContingentDeferredSurrenderCharge(asapercentageofpremiumsurrendered) 0%
TransferFee $0-$10
SpecialServiceFee $0-$50*
*$0-$25forpoliciesissuedpriortoMay1,2015
Thenextsectiondescribesthefeesandexpensesthatyouwillpayperiodicallyduringthetimethatyouownthepolicy,notincluding
portfoliofeesandexpenses.(Allfeesaremaximumforpurchasesmadewhilethisprospectusiseffectiveunlessotherwisenoted.)
AnnualServiceCharge $0-$50
SeparateAccountAnnualExpenses(asapercentage,annually,ofaverageseparateaccountvalue):
MortalityandExpenseRiskFee 0.30%
AdministrativeCharge 0.15%
TotalBaseSeparateAccountAnnualExpenses 0.45%
OptionalSeparateAccountExpenses:
ReturnofPremiumDeathBenefit 0.15%
AnnualStep-UpDeathBenefit 0.35%
FundFacilitationFee 0.30%
TotalSeparateAccountAnnualExpenseswithHighestOptionalSeparateAccountExpenses 1.10%
OptionalDeathBenefitRiders:
AdditionalDeathDistribution(annualchargebasedonpolicyvalue) 0.25%
AdditionalDeathDistribution+(annualchargebasedonpolicyvalue) 0.55%
Maximum Current
OptionalGuaranteedLifetimeWithdrawalBenefitRiders:
GuaranteedPrincipalSolutionSM(akaLivingBenefitsRider)(annualcharge-%ofPrincipalBackTotal
WithdrawalBase) 1.25% 1.25%
RetirementIncomeMax®(annualcharge-%ofWithdrawalBase) 2.00% 1.25%
RetirementIncomeChoice®1.6(annualcharge-%ofWithdrawalBase)
(forridersissuedonorafterMay1,2014)
BaseBenefitDesignatedAllocationGroupA 2.20% 1.45%
BaseBenefitDesignatedAllocationGroupB 1.85% 1.10%
BaseBenefitDesignatedAllocationGroupC 1.45% 0.70%
2
Maximum Current
AdditionalBenefitsavailablewithRetirementIncomeChoice®1.6rider:
DeathBenefit-(SingleLifeOption) 0.40% 0.40%
DeathBenefit-(JointLifeOption) 0.35% 0.35%
IncomeEnhancementSM-(SingleLifeOption-NotavailableinNY) 0.30% 0.30%
IncomeEnhancementSM-(JointLifeOption-NotavailableinNY) 0.50% 0.50%
RetirementIncomeChoice®1.6(annualcharge-%ofWithdrawalBase)
(forridersissuedpriortoMay1,2014)
BaseBenefitDesignatedAllocationGroupA 2.30% 1.55%
BaseBenefitDesignatedAllocationGroupB 1.85% 1.10%
BaseBenefitDesignatedAllocationGroupC 1.45% 0.70%
AdditionalBenefitsavailablewithRetirementIncomeChoice®1.6rider:
DeathBenefit-(SingleLifeOption) 0.40% 0.40%
DeathBenefit-(JointLifeOption) 0.35% 0.35%
IncomeEnhancementSM-(SingleLifeOption-NotavailableinNY) 0.30% 0.30%
IncomeEnhancementSM-(JointLifeOption-NotavailableinNY) 0.50% 0.50%
Thenextsectionshowsthelowestandhighesttotaloperatingexpenseschargedbytheunderlyingfundportfoliosfortheyearended
December31,2014(beforeanyfeewaiverorexpensereimbursements).Expensesmaybehigherorlowerinfutureyears.Moredetail
concerningeachportfolio’sfeesandexpensesiscontainedintheprospectusforeachportfolio.
TotalPortfolioAnnualOperatingExpenses(Expensesthataredeductedfromportfolioassets,
includingmanagementfees,distributionand/orservice12b-1fees,andotherexpenses):
LowestGross 0.16%
HighestGross 10.38%
ThefollowingExamplesareintendedtohelpyoucomparethecostofinvestinginthepolicywiththecostofinvestinginother
variableannuitypolicies.Thesecostsincludeownertransactionexpenses,policyfees,separateaccountannualexpenses,andportfolio
feesandexpenses.
TheExampleassumesthatyouinvest$10,000inthepolicyforthetimeperiodsindicated.TheExamplealsoassumesthatyour
policyhasa5%returneachyear,thehighestTotalPortfolioOperatingExpensesofanyoftheportfoliosfortheyearendedDecember
31,2014,andthebasepolicywiththecombinationofavailableoptionalfeaturesorriderswiththehighestfeesandexpenses,
includingthehighestFundFacilitationFee,AnnualStep-UpDeathBenefit,AdditionalDeathDistribution+RiderandRetirement
IncomeChoice®1.6Rider-JointLifewithadditionalDeathBenefitandIncomeEnhancementSMoptions(priortoMay1,2014).
Althoughyouractualcostsmaybehigherorlower,basedontheseassumptions,yourcostswouldbe:
ExpenseExamples:
Ifthepolicyissurrenderedorannuitizedattheendoftheapplicabletimeperiodorifyoudonotsurrenderyourpolicy:
1Year $ 1,388
3Years $ 3,880
5Years $ 6,037
10Years $10,246
TheExampleassumesthatyouinvest$10,000inthepolicyforthetimeperiodsindicated.TheExamplealsoassumesthatyour
policyhasa5%returneachyear,thehighestTotalPortfolioOperatingExpensesofanyoftheportfoliosfortheyearendedDecember
31,2014,andthebasepolicywiththecombinationofavailableoptionalfeaturesorriderswiththehighestfeesandexpenses,
3