WO2002073360A2 - Life insurance products under a single approved form - Google Patents

Abstract

A system and method for generating life insurance products under a single approved form. In one aspect, a system and method are provided for determining a premium schedule by selecting a death benefit (400); targeting a projected balance of an account associated with the product (400); designating at least one premium band (400), generating, in response to a deferral determination for at least one premium-based charge for at least one premium band, factors for allocating charges associated with the product; and calculating the premium schedule (900). In another aspect, a system and method are provided for determining a death benefit, and in another aspect, a system and method are provided for determining a projected balance of an account associated with a life insurance product (900).

Description

LIFE INSURANCE PRODUCTS UNDER A SINGLE APPROVED FORM

Cross Reference to Related Applications This application claims priority to provisional application No. 60/275,030, filed

March 13, 2001, which is incorporated herein by reference, and to provisional application No. 60/333,748, filed November 29, 2001, which is incorporated herein by reference.

Copyright Notice A portion of the disclosure of this patent document contains material which is subject to copyright protection. The copyright owner has no objection to the facsimile reproduction by anyone of the patent disclosure, as it appears in the Patent and Trademark Office patent files or records, but otherwise reserves all copyright rights whatsoever.

Field of Invention

The present invention relates to the field of life insurance. More particularly, the present invention relates to a system and method for generating life insurance products under a single approved form.

Background of the Invention

Generally, ajife insurance contract provides economic protection against the risk of income cessation or liabilities associated with death. A life insurance contract, or insurance product, typically provides for one party (the customer) to pay a premium or premiums and for another party (the insurer) to pay a defined amount upon the death of the insured, a death benefit. For example, many individuals use life insurance products as a means to provide for the income needs of surviving dependent family members, pay federal or state estate taxes, pay debts, or make charitable donations. Many businesses use life insurance products as a means to provide a basic level of financial security for employees and their dependents, fund employee benefits, provide funds to continue business operations in the event a key employee dies (known as "key-man insurance"), or provide financial liquidity to minimize business disruption in the event of the owner's death, disability, retirement, or other withdrawal from the business (known as "buy-sell" arrangements).

The cost for a given level of life insurance protection generally increases as the insured ages. Life insurance policy premiums typically pay for the cost of death benefit protection within a current period (the cost of insurance), for pre- funding the cost of future protection, and to cover other policy charges. Premiums associated with pre-funding the future cost of insurance protection are invested by the insurance company and held in a reserve. Generally, different types of contracts give customers various rights as to when and at what level premiums are paid, access to the policy reserves (known as "account value" or "cash value"), and some limited options as to which types of investments to invest the reserves. Certain types of insurance contracts, known as "variable universal life insurance" contracts, are often purchased by individuals and businesses who desire maximum control over the premiums paid into their investment account - when premiums are paid, how much is paid at a given time, and how to invest the reserves. These policies permit a customer to pay premiums at the time and in the amount of the customer's choosing, within certain legal and regulatory limits, and to direct the investment of the funds associated with their policies among a menu of different investment accounts, which are roughly similar to choices found in mutual fund-type investments. In addition to funding the cost of current insurance protection and the allocation of funds to a policy reserve account, a portion of the premium or premiums paid by a customer to the insurer may be used to pay for certain charges incurred by the insurer, for example, distribution expenses, periodic charges, investment advisory expenses, and government taxes. An insurance contract typically has a given set of charges from which an insurance company expects to recover the expenses that it incurs. The art of insurance product pricing is to develop a package of policy charges that will recover the expenses that are incurred by the insurance company over time, accounting for certain risks and the time value of money, while at the same time delivering an attractive product to the customer. Variations among products in the marketplace are most often driven by attempts by the product developers to satisfy differing customer preferences while taking into account the risks presented by those preferences. For example, the amount of policy charges and the timing of when they are set in the insurance contract affect the amount of the customer's investment account associated with the policy. If charges are designed to recover costs quickly, the customer's investment account in the early years would be lower than if the policy charges were designed to recover costs over a longer period of time. However, the quicker the carrier recovers its costs generally results in a better long-term value for the customer, so a customer's preference for long-term results versus short-term results often drives different charge configurations in the marketplace. Thus, for example, a policy which is designed to recoup the insurer's costs as quickly as possible and provide the customer with a maximized death benefit twenty years in the future may be highly desirable to some customers but not to others. This balancing of the customer's and the insurer's goals and desires increases the complexity in designing and selecting the best-suited life insurance product.

Traditionally, however, life insurance products are relatively inflexible with regard to customized features to meet the objectives of specific customers. Life insurers, products and agents, are subject to a combination of state and federal government regulations designed to protect the insured, policy owners, and beneficiaries against unfair and deceptive provisions and practices, and to prevent the use of insurance for purposes other that what was intended. For example, states often require that a policy contract form may not be used until a specimen policy contract form is filed with, and approved by, the state's insurance department. Most state statutes contain provisions, as recommended by the National Association of Insurance Commissioners (NAIC), regulating aspects of life insurance contract provisions, such as grace periods, premium payments, incontestability, misstatements of age, annual apportionment of dividends, surrender values and options, policy loans, settlement options, and reinstatement.

The Internal Revenue Code provides a definition of life insurance for federal income tax purposes, which determines whether or not an insurance contract will be accorded the tax benefits associated with life insurance, e.g., tax deferred growth of the earnings of an associated investment account and receipt of death benefits free of income tax. Generally, the definition of life insurance contained in the Internal Revenue Code is designed to prevent the unnecessary build up of cash in a policy's investment account relative to the amount of death benefit protection being provided by the insurer. This limits the customer's ability use life insurance as an investment vehicle and also limits the customer's ability to control the investment of premiums with regard to particular investments. Additionally, certain insurance products (commonly known as "variable products") are classified as securities and therefore are regulated by the U.S. Securities and Exchange Commission (SEC), the National Association of Securities Dealers (NASD), the Municipal Securities Rulemaking Board (MSRB), and various state agencies.

In order to create a new insurance product structure, an insurance company typically invests several months of time in order to create a proper charge structure to offer a competitive product, based on the customer profile it intends to attract and the associated financial and health risks, that complies with the regulatory review process for all applicable statutory and regulatory requirements while meeting the insurance company's requirements for risk and earnings. This "manufacturing" process often results in delays for creating new regulatory- approved life insurance products tailored to meet certain customer needs or in the decision by the insurer to simply forego the creation of a product for a particular type of customer because it does not have the flexibility to offer such a product responsive to the customer's needs on a timely basis. Furthermore, traditional life insurance products typically do not give insurance representatives broad flexibility to allocate insurance policy charges in ways that meet customer objectives and at the same time manage risks for the insurer that underwrites the product. For example, traditional life insurance products typically do not provide customer flexibility to choose different charge amortization configurations to generate a product that can meet differing customer preferences by permitting the amortization of different charges associated with the product over differing periods of time. Recently, life insurance product offerings have included limited options to allow insurance representatives to alter the commission structure to affect policy charges. However, insurance companies are often only able to offer customers a limited number of policies which, in turn, are intended to meet the objectives of certain types of customers. Representatives are frequently not able to illustrate different insurance products in a real-time fashion that immediately shows the consequences of various customer choices in benefits or premiums. Representatives also have limited flexibility to change or defer commission schedules in order to generate a policy that meets a customer's objectives and thereby make a sale.

For the foregoing reasons, there is a need for a way of generating life insurance products under a single regulatory-approved form that permits the flexible distribution and recovery of charges and expenses. There is a need for practically real-time illustration of sample policies generated using criteria specified by an insurance customer.

Summary of the Invention

The present invention is directed to systems and methods for generating life insurance products under a single approved form. The invention advantageously provides a flexible process for generating insurance products tailored to meet customer needs without having to submit new forms for regulatory approval. A single regulatory-approved form according to the present invention is sufficient to facilitate generating a plurality of life insurance policies. The insurance regulatory forms shown in Appendix A, Sample Product Regulatory Submission, which is part of this specification, are for illustrative purposes and are examples of forms sufficient to obtain regulatory approval of life insurance products embodying the present invention. In view of this specification, including Appendices A- F, it would be apparent to a person of ordinary skill in the art how to create insurance regulatory forms for various life insurance policy offerings using or embodying the present invention. The MAGNASTAR Private Placement Variable Life product described in the appendices is a product of M Financial Group. The invention provides an insurance representative the capability to flexibly distribute charges associated with an insurance product to various balancing items of the insurance product such as the premium stream or the cash value. The invention also provides the capability to distribute charges across a plurality of premium bands and a plurality of time periods. Premium bands are designed such that premiums up to one amount have a certain expense load while premiums over that amount may have a different expense load.

The invention advantageously provides a system and method for illustrating life insurance products tailored to customer needs in practically real-time. In embodiments, the system receives inputs for variables such as the death benefits desired by the customer, the cash values desired for various time periods, and premium levels and in response generates an illustrative life insurance product. The interactive application permits practically realtime adjustments of insurance products to meet customer needs. Applied to private placement variable life insurance, the present invention facilitates a large universe of investment choices for individual life insurance products. The invention provides qualified customers with the ability to invest in investments exempt from registration under Regulation D of the 1933 Securities Act, as well as in registered investment funds.

In one aspect of the invention, a method is provided for determining a premium schedule for a life insurance product under a single regulatory-approved form by selecting a death benefit; targeting a projected balance of an account associated with the product; designating at least one premium band; generating, in response to a deferral determination for at least one premium-based charge for at least one premium band, factors for allocating charges associated with the product; and calculating the premium schedule. A deferral determination is an option that allows an insurance representative or a customer to presently incur a premium-based charge or to defer the charge to a future charge schedule. In a further aspect of the invention, the calculated premium schedule is consistent with regulatory requirements, which may include meeting the qualifications for a life insurance policy. In yet a further aspect of the invention, a premium schedule is calculated for each of a plurality of time periods.

In another aspect of the invention, a method is provided for determining a death benefit for a life insurance product under a single regulatory-approved form by selecting a premium; targeting a projected balance of an account associated with the product; designating at least one premium band; generating, in response to a deferral determination for at least one premium-based charge for at least one premium band, factors for allocating charges associated with the product; and calculating the death benefit. In a further aspect of the invention, the calculated death benefit is consistent with regulatory requirements, considering the selected premium amount. In yet a further aspect of the invention, a death benefit is calculated for each of a plurality of time periods. In still another aspect of the invention, a method is provided for determining a projected balance of an account associated with a life insurance product under a single regulatory-approved form by choosing a death benefit; selecting a premium; designating at least one premium band; generating, in response to a deferral determination for at least one premium-based charge for at least one premium band, factors for allocating charges associated with the product; and calculating the projected balance. The projected balance or projected cash value may be calculated by estimating a financial earnings rate for the balance after subtracting the cost of insurance and policy charges from the premium. In a further aspect of the invention, the calculated projected balance is consistent with regulatory requirements. In yet a further aspect of the invention, a projected balance is calculated for each of a plurality of time periods.

In another aspect of the invention, the methods of generating life insurance products under a single regulatory-approved form include the process of determining a projected earnings rate on the projected balance.

The life insurance products of the invention include single life policies, joint life policies, joint last-survivor life policies, or portfolios of policies. The life insurance products may be from a class of insurance policies meeting government regulatory definitions for life insurance and consisting of, but not limited to, term life, endowment, annuity, whole life, universal life, variable life, variable universal life, private placement variable life, and combinations thereof.

In another aspect of the invention, methods for generating life insurance products under a single approved form may include selecting a maximum or minimum death benefit or a maximum or minimum premium level. The methods for generating life insurance products under a single approved form may also include targeting a maximum or minimum projected balance of an account associated with the product.

In yet another aspect of the invention, methods for generating life insurance products under a single approved form may include generating factors for allocating charges responsive to a first defeπal determination to defer a first amount of charges and generating revised factors for allocating charges responsive to a revised deferral determination to defer a revised amount of charges. The factors are mathematical variables that can be used to allocate policy charges to the policy's premium schedule and assets. In embodiments of the invention, the algorithms for calculating the factors are described in Appendix B, Product Definition, which is part of this specification. The methods for generating life insurance products may also include selecting a revised death benefit and calculating a revised premium schedule or a revised projected balance. The methods for generating life insurance products may also include targeting a revised projected balance and calculating a revised premium schedule or a revised death benefit responsive to the revised projected balance. In another aspect of the invention, methods of illustrating or offering a life insurance product under a single approved form are provided. In a further aspect of the invention, charges associated with insurance products may include costs of insurance charges, periodic charges, asset-based charges, or combinations of such charges.

In another aspect of the invention, life insurance products generated by the processes of the invention are provided.

In another aspect of the invention, a computer program product is provided comprising a computer usable medium having computer program logic recorded on it for enabling a processor in a computer system to facilitate creating a life insurance product under a single regulatory-approved form. The computer program logic may comprise a storage means for enabling the computer system to accept information including a death benefit, a projected balance of an account associated with the product, a projected earnings rate on the projected balance, at least one premium band, and factors for allocating charges associated with the life insurance product. The computer program logic may also comprise a calculating means for calculating, consistent with regulatory requirements, a premium schedule, responsive to the stored death benefit, the projected balance, the projected earnings rate, the premium band, and the factors.

In another aspect of the invention, a life insurance system is provided comprising a data processing apparatus for storing life insurance base product tables and regulatory requirements, and input means for inputting instructions to the apparatus to calculate a premium schedule associated with a life insurance product responsive to a selected death benefit, a projected balance of an account associated with the life insurance product, at least one designated premium band, and factors for allocating charges associated with the life insurance product, the factors being responsive to a defeπal determination for at least one premium-based charge for each premium band. In a further aspect of the invention, the premium schedule is also responsive to a projected earnings rate on the projected balance. In another aspect of the invention, a life insurance system is provided comprising a data processing apparatus for storing life insurance base product tables and regulatory requirements, and input means for inputting instructions to the apparatus to calculate a death benefit responsive to a selected premium schedule, a projected balance of an account associated with the life insurance product, at least one designated premium band, and factors for allocating charges associated with the life insurance product, the factors being responsive to a defeπal determination for at least one premium-based charge for each premium band. In a further aspect of the invention the death benefit is also responsive to a projected earnings rate on the projected balance.

In another aspect of the invention, a life insurance system is provided comprising a data processing apparatus for storing life insurance base product tables and regulatory requirements, and input means for inputting instructions to the apparatus to calculate a projected balance of an account associated with the life insurance product responsive to a selected death benefit, a selected premium schedule, at least one designated premium band, and factors for allocating charges associated with the life insurance product, the factors being responsive to a deferral determination for at least one premium-based charge for each premium band. In a further aspect of the invention, the projected balance is also responsive to a projected earnings rate on the projected balance. Additional features and advantages of the invention are set forth in part in the description that follows, and in part are apparent from the description, or may be learned by practice of the invention.

Brief Description of the Drawings

The accompanying drawings, which are incorporated in and form a part of the specification, illustrate embodiments of the present invention and, together with the description, serve to explain the principles of the invention.

FIG. 1 illustrates a flowchart depicting an embodiment of a process of the invention; FIG. 2 illustrates an application of an embodiment of the invention for entering product' information;

FIG. 3 illustrates a pull-down menu in an application of an embodiment of the invention;

FIG. 4 illustrates an application of an embodiment of the invention for entering customer information;

FIG. 5 illustrates an application of an embodiment of the invention for entering product characteristics;

FIG. 6 illustrates a data entry application of an embodiment of the invention for entering death benefit levels; FIG. 7 illustrates a data entry application of an embodiment of the invention for entering premium levels; FIG. 8 illustrates an application of an embodiment of the invention for entering product characteristics;

FIG. 9 illustrates an application of an embodiment of the invention for entering fund options; FIG. 10 illustrates a data entry application of an embodiment of the invention for entering rates of return;

FIG. 11 illustrates an application of an embodiment of the invention for entering premium band options;

FIG. 12 illustrates an application of an embodiment of the invention for allocating commissions;

FIG. 13 illustrates a data entry application of an embodiment of the invention for entering commission levels;

FIG. 14 illustrates a data entry application of an embodiment of the invention for entering commission levels; FIG. 15 illustrates an application of an embodiment of the invention for entering distribution characteristics;

FIG. 16 illustrates a pull-down menu in an application of an embodiment of the invention;

FIG. 17 illustrates an application of an embodiment of the invention for entering rider options;

FIG. 18 illustrates a sample illustration of an embodiment of the invention; and FIG. 19 illustrates an embodiment of a system of the invention. Detailed Description

In describing embodiments of the invention, specific terminology will be used for the sake of clarity. However, the invention is not intended to be limited to the specific terms selected, and it is to be understood that each specific term includes all equivalents.

The present invention provides a system and method for generating life insurance products under a single approved form. In embodiments, the invention receives information inputs, such as a death benefit level and a projected cash value balance, needed to generate a life insurance product. The inputs are processed with predetermined insurance tables containing information concerning insurance company costs, such as a company's periodic charges, cost of providing mortality protection, government taxes, or contribution to profits. Examples of insurance data tables used in practicing the invention are shown in Appendix C, Exemplary Inputs For Product, for illustrative purposes and are part of this specification. The first two pages of Appendix C are an index of the sample insurance data tables, and the second column of the index references the coπesponding sections of the Product Definition in Appendix B. In view this specification, including Appendices A - F, it would be apparent to a person of ordinary skill in the art how to populate and create additional insurance tables that meet the various requirements and goals of different insurance companies for their life insurance products embodying the present invention. User inputs and the data tables are processed in order to calculate the complete schedules of a' life insurance product, as more fully explained below. In embodiments of the present invention, the algorithms for processing the input information and generating a product are described in Appendix B, Product Definition.

In an embodiment of the invention, a user inputs parameters for a life insurance product such as death benefit levels, projected balances for the cash value of the product, a projected earnings rate for cash value balances, and premium levels. Typically, these variables are tied together by a single equation or calculation or a series of equations and calculations. For example, inputs for death benefit levels, projected balances for the cash value of the product, and a projected earnings rate for cash value balances can be used to calculate a schedule of premium levels. Likewise, inputs for projected balances for the cash value of the product, a projected earnings rate for cash value balances, and premium levels can be used to calculate death benefit levels. Inputs for death benefit levels, a projected earnings rate for cash value balances, and premium levels can be used to calculate projected balances for the cash value of the product. For example, a cash value can be calculated by subtracting the death benefit level and policy charges from the premium. Thus, for the embodiments described in this specification, an example explaining how premium schedules are illustrated or generated will also enable a person of skill in the art how to illustrate or generate death benefit levels or cash value balances for a life insurance product.

In embodiments of the invention, an input for each such variable may be relevant for the entire duration of a life insurance product. In other embodiments, the parameters of a life insurance product may change over time, and each such variable may have different values at different times. In these cases, the invention facilitates the entry of multiple values for each such variable coπesponding to different time periods. In embodiments, the invention allows insurance representatives to change the pricing parameters or loads of a life insurance product in order to meet the objectives of a customer. The representative has the flexibility to determine how various loads associated with the product are charged to the assets of the product. For example, the representative may use the invention to customize the commission schedule so that part of the representative's compensation is defeπed into future years. As another example, the customer may also want to defer the payment of government taxes into future years in order to provide greater funds in early policy years to the product's investment option. In such cases, the insurance company essentially fronts the costs of the defeπed charges in anticipation of recovering these costs over time. Thus, the insurance company assumes some persistency risk, risk that the policy or product line is terminated before costs can be recovered. However, the invention allows the insurance company to manage this additional risk, for example, by adjusting the pricing parameters of the insurance product.

Life insurance product charges such as the cost of insurance, government taxes, distribution commissions, licensing fees, periodic charges, product development expenses, marketing expenses, investment advisory fees, and insurance company profits can be funded from the various assets of the product. For example the charges may be deducted from the payment of premiums, investment earnings, or even through the reduction in benefits paid out. In embodiments, the invention distributes the charges to the various product assets in a manner consistent with customer objectives and regulatory requirements.

In embodiments, charges may also be distributed based on the asset balances of a life insurance product. Asset levels may, for example, be divided into different levels or bands so that each band is responsible for covering a portion of the charges. In embodiments, this asset-based method of allocating charges gives preferential treatment to customers that contribute greater funds to policies.

In embodiments of the invention, multiple life insurance products can be banded together in a portfolio. The various charges and assets of all the products can be pooled and analyzed in order to coordinate risk and coverage.

With reference to the drawings, in general, and FIGS. 1 through 19 in particular, embodiments of the present invention are described.

FIG. 1 illustrates a flow diagram of a process of an embodiment of the present invention. In an embodiment of the invention, this process represents a scenario for illustrating or generating a life insurance product in which an insurance representative may respond to specific customer needs in practically real-time. The process begins at step 110 where the representative discusses the objectives and goals of the customer. Objectives may include, for example, maximizing the death benefit for the customer during specific time periods or throughout the duration of a life insurance policy. On the other hand, the customer may want to maximize the suπender cash value of a policy at various time periods, for example, at the beginning of the policy. The customer may also have constraints such as the amount of money available to invest in a life insurance product or limitations in the ability to make future premium payments. The customer's objectives may also include or be based on tax considerations.

In the embodiment depicted in FIG. 1, the representative begins the process of illustrating or generating a life insurance product that achieves a customer's objectives. In step 400, the customer or the representative inputs into a computer system, programmed according to the invention, parameters for the proposed life insurance product. In this embodiment, these parameters include a death benefit amount, a target cash balance, and a desired premium level. These three variables may be the customer's main concern because they define the benefits and costs of the product to the customer. The three variables are also interrelated because each can be calculated using the values of the other two.

The death benefit amount may remain constant for the duration of the policy or may change over time in accordance with the customer's objectives. In embodiments, the death benefit is not fixed by the customer, but is calculated according to the invention after the other variables have been determined.

The target cash balance may be constant for the duration of the policy or may change over time in accordance with the customer's objectives. For example, the customer may want to maximize the cash balance at the beginning of a policy term to minimize the accounting impact of the purchase. The customer may also want to maximize the cash balance in order to maximize the potential investment return. In other embodiments, the cash balance is not fixed by the customer, but is calculated according to the invention after other variables have been determined.

The premium level may be constant for the duration of the policy or may change over time in accordance with the customer's objectives. In other embodiments, the premium level is not fixed by the customer, but is calculated according to the invention after other variables have been determined. In step 500 of the embodiment depicted in FIG. 1, the customer or representative inputs an anticipated earnings rate for any cash balance. The anticipated earnings rate or investment rate of return is used to calculate the anticipated growth of the cash balance over time, which may affect the values of other variables, such as the death benefit, in future years. Although in embodiments there are no constraints on the value of the anticipated earnings rate, it is preferable to input a realistic rate in order to generate a life insurance product that will most likely perform as predicted. For example, the customer may decide to input the historical performance of the investment vehicle chosen for the policy.

In step 600 of the embodiment depicted in FIG. 1, the insurance representative or the customer determines if it is desirable to divide premium payments into multiple "bands" to provide flexibility in charging loads and expenses to insurance product's assets. For example, insurance product may be defined so that 10% of the first $10,000 in a premium payment (i.e., $1,000) is used for product charges, such as cost of insurance, while 5% of the next $10,000 is used for such charges. In step 700 of the embodiment depicted in FIG. 1, the customer or representative determines if it is desirable to defer charging certain expenses to the proposed policy or amortize a portion of the charges associated with the policy. For example, in order to meet the customer's objectives, the representative may propose to defer the assessment of commission charges for a period of time or to defer the assessment of other charges, such as the cost of insurance. This defeπal decision may be made for each premium band of a policy. The defeπal decision may also be made for specific periods of time during the life of the generated policy. In step 900 of the embodiment depicted in FIG. 1, a life insurance product in accordance with the inputs from the preceding steps illustrated. Depending on which variables are inputted, the policy may include a premium schedule calculated by the invention or anticipated cash balances calculated by the invention or a schedule of death benefits calculated by the invention. The customer or representative then review the illustrated policy. If the policy satisfactorily meets the customer's objectives, the representative may then immediately prepare a contract offer for the customer. If the illustrated policy is not satisfactory, the customer or representative may, according to the invention, go back and change the inputs for one or more variables. FIGS. 2 through 4 illustrate embodiments that allow a user to input customer background information into a computer application that illustrates and generates life insurance products according to the invention. FIG. 2 depicts an embodiment of a computer application screen. Tab 210 is labeled "General" and is the starting point for entering background information for a proposed life insurance product. Choosing button 230 allows a user to select a plan from a pull-down menu. FIG. 3 depicts an embodiment of the pulldown menu. By selecting Tab 220, labeled "Inputs," a user may change the application screen to the embodiment illustrated in FIG. 4. The computer application screen depicted in FIG. 4 contains spaces for inputting customer background information.

FIG. 5 illustrates another application screen of an embodiment which may be viewed by selecting tab 510, labeled "Coverage." This application screen contains entries for inputting a desired death benefit and a desired premium level. In embodiments, the desired death benefit amount may be entered by choosing button 520. In embodiments, choosing button 520 will take the user to the application screen depicted in FIG. 6. In FIG. 6, the user may enter the desired death benefit amount for the various time periods of the policy. The desired death benefit may be fixed for the duration of the policy or may vary over time. The death benefit itself may be a payout of the face amount or the face amount plus an account value. The death benefit may also include additional amounts provided for by riders incorporated into the policy. In embodiments, the policy may fix a minimum death benefit in order to meet IRS requirements for life insurance. In embodiments, the invention determines the death benefit amount based on the values chosen for the other variables. In embodiments, a premium level may be selected by choosing button 530. In embodiments, choosing button 530 will take the user to the application screen depicted in FIG. 7. In FIG. 7, the user may enter the desired premium level for the various time periods of the policy. The premium level may be fixed for the duration of the policy or may vary over time. In embodiments, the invention determines the premium level based on the values chosen for the other variables. In FIG. 5, a user may also choose button 540 to reveal a pull-down menu in order to select a Definition of Life Insurance. In embodiments, the Definition of Life Insurance may be based on a "cash value accumulation" test or a "guideline premium" test. The user may also decide whether the policy will be a "Seven Pay" as defined by Section 7702A of the Internal Revenue Code. The decision may alter the policy premium or face amount in order to comply with tax requirements. The user may also decide whether the policy will involve a "1035 Exchange," which includes accepting assets from an existing life insurance product in order to facilitate a tax deferred exchange of life insurance products. If the user selects "1035 Exchange" by checking box 560, additional entries appear, as illustrated by FIG. 8, requesting information about the existing policy in order to assure compliance with government tax requirements.

FIG. 9 illustrates another computer application screen of an embodiment which may be viewed by selecting tab 910, labeled "Funds." This application screen contains entries for inputting an estimated rate of return for the invested assets of an illustrated proposed life insurance product. The invention uses the estimated rate of return to project the future balances of an insurance product's assets in order to determine if the assets are sufficient to pay projected product loads while maintaining the customer's desired benefits coverage. In embodiments, choosing button 920 will take the user to the application screen depicted in FIG. 10, where the user may enter the selected earnings rate, which may be fixed for the duration of the policy or may vary over time.

FIG. 11 illustrates another computer application screen of an embodiment which may be viewed by selecting tab 1110, labeled "Tax and Target." The application screen contains entries for allocating premiums and amortizing government taxes associated with the life insurance product to a plurality of premium bands associated with the product. In this embodiment, the premium bands divide premium payments into different categories or bands based on dollar amounts. For example, the first premium band may be associated with the first amount of a premium payment, and a second premium band is associated with a next amount of the premium payment, and so on. The application screen illustrated in FIG. 11 allows a customer to define the premium bands and assign government taxes to be paid from a specific premium band. In embodiments of the invention, Defeπed Acquisition Cost (DAC) taxes that are deducted from the premium can also be deferred and amortized. Taxes can also be defeπed on each, all, or any combination of premium bands for the same or different periods of time. For example, the period of deferral of taxes on premiums in a first band can be selected between, for example, one and ten years. In embodiments, defeπal of taxes on premiums in a second band is available only for premiums applied in the first policy year. In embodiments, taxes on premiums in a third band may not be defeπed at all.

FIG. 12 illustrates another computer application screen of an embodiment which maybe viewed by selecting tab 1210, labeled "Customization." Using this application screen, an insurance representative can choose how sales commissions are charged to the policy. For example, if Module 1, entitled "Premium Commissions With Loads," is selected, commission rates are specified and matched to the corresponding annual premium loads. In embodiments, choosing button 1240 will take the user to the application screen depicted in FIG. 13, where the user may enter the desired percentage of Band 1 premiums attributable to commissions for the various time periods of the policy. The percentage may be for the duration of the policy or may vary over time. For example, five percent of Band 1 premiums may be set aside for commission in the first five years of the policy, and in subsequent years, only three percent of Band 1 premiums will be set aside for commissions. Determining commission levels for Band 2 premiums may be accomplished by selecting button 1250, depicted in FIG. 12, and performing the same process.

Module 1 gives a representative or customer the ability to select a specific commission rate for each target premium band for each time period. In embodiments of the invention, early suπender values can be enhanced through use of an enhanced suπender value option. In embodiments, this option is available only in conjunction with Module 1, as depicted in FIG. 12. If the policy is suπendered during the first nine policy years, for example, a portion of the sales load will be added to the cash value upon surrender. In embodiments, a maximum commission rate may be fixed according to statutory requirements.

In Module 2 as depicted in FIG. 12, entitled "Premium Based Commissions With Amortized Loads," commission rates are specified by the customer or representative but not matched by the coπesponding commission sales loads. In embodiments, recovery of commission expenses occurs through amortization of other policy load elements. This module gives the ability to select a specific commission rate for each target premium band during the early policy time periods.

In addition, if the customer is not concerned with suπender values during the early years of the policy and is more interested in long-term performance, embodiments of the invention provide a surrender charge option. For example, suπender charges may apply only during the first nine years of the policy thus encouraging a customer to maintain the policy for at least that period of time. In embodiments, the level of surrender charges is responsive to the level of the target premium for the first premium band and to overall commission levels. Module 3, as depicted in FIG. 12, is entitled "Trail Commissions" and provides a representative or a customer with the ability to specify asset-based trail commissions. In life insurance products, the mortality and expense risk charge will generally vary in relation to the commission rate selected. Embodiments of the invention provide an option to set an asset band level above which a different trail commission will apply. This asset band can be based on the combined assets of multiple policies. In embodiments, choosing button 1260, will take the user to the application screen depicted in FIG. 14, where the user may enter the desired commission amounts. The commission may be fixed for the duration of the policy or may vary over time.

In Module 4 as depicted in FIG. 12, entitled "Per $1,000 Face Amount Commissions," commissions can be payable as a flat fee per $1,000 of the face amount. In an embodiment, the commission can be specified annually and results in a charge to the policy taken over the duration of the policy. In embodiments of the invention, an option is provided for having the commission charged, for example, over the first ten policy years.

In embodiments, each of the four modules depicted in FIG. 12 can be used in various combinations by checking boxes 1220 and inputting module factors 1230. Module factors 1230 act as multipliers. For example, if the Module 1 factor is 200, the percent of Band 1 and Band 2 premiums previous chosen to be attributable to commissions would be doubled. Appendix D, Product Design and Flexibility, which is part of this specification, provides additional explanation of the interaction of the four modules.

FIG. 15 illustrates another computer application screen of an embodiment which may be viewed by selecting tab 1510, labeled "Distributions." Using this application screen, the user may select a desired income stream to be paid from the policy over time. In embodiments, choosing button 1520 will reveal the pull-down menu depicted in FIG. 16. From the pull-down menu, the user can select the type of distribution desired. FIG. 17 illustrates another computer application screen of an embodiment which may be viewed by selecting tab 1710, labeled "Riders." Using this application screen, the user may, for example, add an enhanced death benefit rider to the life insurance product. By choosing this option, excess cash value accumulated in the policy account will be used as an additional death benefit. The user may also select a rider that increases the death benefit by the amount of premiums paid, i.e., a return of premium rider.

Once suitable selections have been made, as described above, embodiments of the invention then illustrate and/or generate schedules of premiums and account values associated with the policy for the user. The process of illustrating and or generating policy schedules may involve processing the inputted values and selections according to the

Product Definition in Appendix B and calculating factors for allocating policy charges to projected premiums and policy asset values. FIG. 18 illustrates an embodiment of another computer application screen which depicts an example of the data for an illustration of a life insurance product generated by inputs selected by a user. The screen shows the premium payment schedule as well as the projected account values of the policy and the projected death benefits of the policy. An example of a life insurance product illustration is shown in Appendix E, Product Illustration, for illustrative purposes and is part of this specification. Along with an Offering Memorandum, an example of which is illustrated in Appendix F, Illustrative Private Offering Memorandum, which is part of this specification, the life insurance product illustration defines the life insurance product offered to the customer. In an embodiment of the invention, the process of illustrating or generating life insurance products for a specific customer may be conducted using a laptop, a desktop, or other self-contained computer system that includes all of the data, tables, and programs for generating or illustrating a life insurance product according to the present invention. In other embodiments, the process of illustrating or generating life insurance products for a specific customer may be conducted using the Internet or other computer networking system. For example, as illustrated in FIG. 19, the system or program for illustrating or generating life insurance products that resides on computer system 1910 may require access to data and tables stored in computer system 1930. Access to computer system may 1930 be through the Internet 1920, a local area network, a direct access dial-up, or other computer or communications network. In another embodiment of the invention, the system or programs for illustrating or generating life insurance products as well as the necessary data and tables may be accessed remotely using the Internet or a computer or commumcations network. In embodiments, the system or programs for illustrating or generating life insurance products and the necessary data and tables may be stored in separate remote computer systems. More generally, as is apparent in view of this specification, including Appendices A

- F, the present invention may be implemented using suitable computer and communications hardware or software or combinations thereof.

While there have been shown and described specific embodiments of the present invention, it should be apparent to those skilled in the art that various changes and modifications may be made without departing from the scope of the invention or its equivalents. The invention is intended to be broadly protected consistent with the spirit and scope of this specification and the appended documents. APPENDIX A

SAMPLE PRODUCT REGULATORY SUBMISSION

INSURED [John Doe] TOTAL FACE AMOUNT AT ISSUE [$50,000,000]

CERTIFICATE NUMBER [123 456 789] CERTIFICATE DATE [September 1 , 2000]

VARIABLE LIFE INSURANCE CERTIFICATE

The Death Benefit Proceeds are payable at the death of Insured

This is a Flexible Premium Variable Universal Life Insurance Certificate

The Face Amount is adjustable

Benefits Premiums, and the Premium Class are shown in the Certificate Specifications

This is a Nonparticipating certificate

READ YOUR CERTIFICATE CAREFULLY. This certificate is a summary of the Group Contract We certify that the Insured named in the Schedule is covered under the Group Contract described in the Schedule This certificate becomes effective on the Certificate Date, subject to the conditions in Section 3 We agree to oa / the benefits of this certificate according to its provisions The certificate is issued in consideration of the application for it and Payment of the Minimum Initial Premium

The Certificate Specifications and the conditions and provisions on this and the following pages are part of the certificate, as are any Riders included on delivery

Signed for the Company at its Home Office

PRESIDENT SECRETARY

Variable Life Insurance Certificate

To the extent any benefit, payment, or value under this certificate (including the Account Value) is based on the investment experience of a Separate Account, such benefit, payment, or value may increase or decrease in accordance with the investment experience of the Separate Account and is not guaranteed as to a fixed dollar amount.

It is possible coverage will lapse if the Account Value is not sufficient to pay charges assessed on a periodic Processing Date

Right to Cancel— The Certificate Owner may surrender this certificate by delivering or mailing it to the Magnastar Service Center or to the agent within 10 days after receipt by the Certificate Owner of the certificate. Immediately on such delivery or mailing, the certificate shall be deemed void from the beginning. Any Premium received will then be refunded. 1 CERTIFICATE SPECIFICATIONS

Insured [John Doe] Issue Age [45] Sex [Male] Premium Class [Standard]

[Non-Tobacco User]

Certificate Owner at ssue [John Doe] Certificate Number [U1 00 000 000] Certificate Date [September 1 , 2000] Group Contract Number [9-000001 ]

1 1 Death Benefit

Total Face Amount at Issue [$50,000,000]

See Section 1 4 for scheduled changes in future years

Death Benefit Option at Issue [Option A] Definition of Life Insurance Elected [Cash Value Accumulation Test] Minimum Face Amount [$50,000]

1 2 Premiums

Planned Premium $[2,824,500 00] per year for Certificate Years [1 through 7]

Billing Interval [Annually] beginning on the Certificate Date Band 1 Premium the first $[2,824,500 00] paid per year Band 2 Premium the next $[5,000,000.00] paid per year Minimum Initial Premium $[96,248]

1 3 Summary of Additional Coverages in Effect

[Include Riders actually selected]

Effective

Type Form # Description Date

[Term Rider Additional scheduled death benefit amounts [9/1 /00] on the life of the insured.]

[Return of Death Benefit is increased by the amount of [9/1/00] Premium Rider cumulative premiums paid less withdrawals taken. ]

[Enhanced Death Start year: [30] [9/1/00] Benefit Rider Higher factors substituted after the certificate duration shown in Start Year for the Required Total Death Benefit Factors ]

[Enhanced Additional amount payable on certificate [9/1/00] Surrender Value surrender in the first 10 years ] Rider

The Group Contract and this Certificate have not been and will not be registered with the Securities and Exchange Commission under the Securities Act of 1933, and is "restricted" as contemplated by Regulation D under the Securities Act of 1993 as amended. The Certificate may not be sold or otherwise transferred except as permitted under the 1933 Act and, further, subject to Our prior consent. Scheduled Face Amount for Coverage Segment 1

1 5 Certificate Charges Deducted From Premium Payments

The application of these loads is described further in section 5

1 δ Deductions from Account Value

Processing Period every [1] month[s]

1 6 1 Guaranteed Maximum Administrative Charges

(1 ) Certificate fee applies only to initial Coverage Segment

nthly rates for mortality and expense risk charges

( ) On a Certificate anniversary, "Age" means the Age of the Insured at his or her birthday nearest that date That Age will apply until the next anniversary

(2) For [Male, Premium Class Standard, Non Tobacco User] 8 Certificate Loan Factors

Surrender Charge Factors

1 10 Definition of Life Insurance Death Benefit Factors

[include GPT corridor factors or 1/NSP factors for CVA T in Req Total DB column]

[If the Definition of Life Insurance Elected is the Cash Value Accumulation Test, the Death benefit factors are equal to one divided by the Net Single Premium (as defined in Code Section 7702(b)

We reserve the right to modify the Required Total Death Benefit Factors, retroactively if necessary to ensure or maintain qualification of this certificate as a life insurance contract for federal tax purposes notwithstanding any other provisions of this certificate to the contrary ] {Include these statements for CVAT policies only} 1 1 1 Factors Applicable To Exempt Subaccounts

[This section will include a separate page for each available Exempt Subaccount]

Fund Name [XYZ Select Fund]

Valuation Date [The first business day of each calendar month] Investment Date [The first business day of each calendar month] Investment Notice Period [10 days] Full Liquidity Date [The last business day of each calendar quarter] Full Liquidity Notice Date [60 calendar days before a Full Liquidity Date] Full Liquidity Deferral Period [60 calendar days] Liquidity Reserve Factor [10%] Partial Liquidity Date [Last business day of each calendar year after the first certificate year]

Partial Liquidity Factor [20% or 520,000 if greater] Partial Liquidity Notice Date [75 calendar days before a Partial Liquidity Date] Partial Liquidity Deferral [75 calendar days] Period

DEFINITIONS

"Account Value" is the sum of all the value in all the Subaccounts and the Loan Account and is furtre<- defined in Section 7

"Age" means on any certificate anniversary the age of the person in question at his or her birthday nearest that date That Age will apply until the next anniversary

'Band 1 Premium and Band 2 Premium" amounts are as shown in Section 1 2

"Band 3 Premiums" are all Premiums received in a certificate year in excess of the sum of the Band 1 Premium and Band 2 Premium amounts

The "Certificate Date" is shown in Section 1 and is the date from which We measure certificate anniversaries and Coverage Segment years and determine Processing Dates

"Certificate Debt" means the unpaid balance of all outstanding certificate loans plus accrued interest charges on that loan, as further described in Section 9

"Coverage Segment" means a schedule of face amounts, which may vary by certificate year The face amounts scheduled at the time the certificate is issued comprise Coverage Segment 1 , and are shown in Section 1 4 Additional Coverage Segments may be added after issue as described in Section 4 4

The "Death Benefit" is an amount determined by the Scheduled Face Amount, the Death Benefit Option chosen, and the Required Total Death Benefit Factors The Death Benefit is the amount applicable in the determination of Death Benefit Proceeds. The calculation of the Death Benefit is described in Section 4

'Death Benefit Proceeds" are the amount payable on death of the Insured while the certificate is In Full Force They are equal to the Death Benefit less any outstanding Certificate Debt and unpaid charges

"Exempt Fund" means an investment account that is exempt from registration under exclusion 3(c)(1 ) or 3(c)(7) under the Investment Company Act of 1940

"Exempt Subaccount" means a Subaccount that invests in an Exempt Fund The following definitions apDiy to the Underlying Portfolios of certain Exempt Subaccounts

Net Exempt Fund Value The sum of the value of all Exempt Funds on the Full Liquidity Date minus the Liquidity Reserve Value

Liquidity Reserve Factor A factor determined by the Exempt Fund to indicate the portion of the value held in reserve at time of surrender until the final audited result of the Fund is available

Liquidity Reserve Value The value of the Exempt Fund times the Liquidity Reserve Factor

Investment Date- The date funds can be allocated to the Exempt Fund

Investment Notice Period: The number of days before the Investment Date You must give notice to

Us that You intend to allocate funds to the Exempt Fund.

Full Liquidity Date: The date when the full value of the Exempt Fund is available for surrender

Full Liquidity Notice Date- The number of days before a Full Liquidity Date You must give notice to Us that You intend to surrender the full value of the Exempt Fund

Full Liquidity Deferral Period. The number of days after a Full Liquidity Date the payment of the Net

Exempt Fund Value may be deferred

Partial Liquidity Date- A date when an amount less than the full value of the Exempt Fund is availacie for withdrawal or transfer

Partial Liquidity Factor A factor applied to the value of the Exempt Fund to indicate the portion of tne

Fund value available for withdrawal or transfer

Partial Liquidity Notice Date The number of days before a Partial Liquidity Date You must give notice to Us that You intend to withdraw or transfer funds from the Exempt Fund

Partial Liquidity Deferral Period The number of days after a Partial Liquidity Date the withdrawal or transfer may be deferred

The time periods, dates and factor values can be found in Section 1 11 for each Exempt Subaccount to which they apply The application of these factors is further described in Sections 9, 10 and 18 "Fund" means either a Registered Fund or an Exempt Fund

"HOME OFFICE" MEANS OUR OFFICE AT JOHN HANCOCK PLACE, BOSTON, MASSACHUSETTS 02117.

"In Full Force" means the certificate has not lapsed in accordance with Section 6

"Loan Account" means the portion of the total Account Value that secures the Certificate Debt as further described in Section 9

"Modal Processing Date" means the first Processing Date of each Premium billing interval

"Net Premium" is as defined in Section 5

"Non-Exempt Subaccount" means a Subaccount that invests in a 'Registered Fund"

"Payment" means, unless otherwise stated, Payment at Our Service Center

The "Planned Premium" is the amount of Premium You tell Us You plan to pay The amount initially identified in Your application is shown in Section 1 2

"Portfolio" or "Underlying Portfolio" means each series or investment pool, with a specific investment objective

"Premium" means an amount paid to Us in consideration for the benefits of the certificate 'Premiums' do not include amounts repaid on certificate loans or designated to pay interest charges on outstanding loans

"Processing Date" means the first day of a certificate month in which periodic charges are deducted from the Account Value The number of months between Processing Dates is shown in Section 1 6 The first Processing Date occurs that number of months after the Certificate Date A certificate month shall begin on the day in each calendar month, which corresponds to the day of the calendar month on which the Certificate Date occurred If the Certificate Date is the 29th, 30th, or 31st day of a calendar month, then for any calendar month which has fewer days, the first day of the certificate month will be the last day of such calendar month The Certificate Date is not a Processing Date If the Processing Date is not a Valuation Date, it will occur on the next Valuation Date

"Registered Fund" means a series type mutual fund registered under the Investment Company Act of 1940 as an open-end diversified management investment company

"Separate Account" means a separate investment account, established by Us pursuant to applicable law p which You are eligible to invest under this certificate

^■'Service Center" is where We provide service to You The name of Our Service Center is the Magnastar Service Center and its mailing address and telephone number are shown on the first page of this certificate

"Subaccount" means each division, with a specific investment objective, of a Separate Account

"Subaccount Investment Options" means the list of currently available Subaccounts for the certificate

"Valuation Date" means, for any Registered Fund, any date on which Our Service Center is open for business, the New York Stock Exchange is open for trading, and on which the Fund values its Portfolio The Valuation Date for an Exempt Fund will be specified in Section 1 11

"Valuation Period" means the period of time from the beginning of the day following a Valuation Date to the end of the next following Valuation Date

"We" "Us" and "Our" refer only to the John Hancock Variable Life Insurance Company

"Written Request" means, unless otherwise stated, a request in writing, signed by You and received by Us at Our Service Center

"You" and "Your" refer only to the Certificate Owner 3 EFFECTIVE DATE OF COVERAGE

The certificate will take effect on the Certificate Date shown in Section 1 but only if both of the followirg conditions are met

(1 ) The Minimum Initial Premium listed in Section 1 2 has been received by Our Service Center or oy O-r agent, and

(2) At the time You accept delivery of the certificate, the health of all persons insured under this certificate remains as stated in the application

4 DEATH BENEFIT

We will pay the Death Benefit Proceeds upon receipt, at Our Service Center, of due proof that the Insured died while this certificate was In Full Force, subject to the terms and conditions of this certificate The Death Benefit of the certificate is determined by the Scheduled Face Amount as shown in Section 1 the Death Benefit Option currently in effect, and any increase required to ensure that the certificate will continue to qualify as .ife insurance under federal tax law

4 1 PEA TH BENEFIT PROCEEDS

The Death Benefit Proceeds are the amount payable if the Insured dies while this certificate is In Full Force The Death Benefit Proceeds equal the Death Benefit of the certificate as of the date of death less any Certificate Debt on the date of death and any unpaid charges under Section 8 After the Insured reaches Age 100 the Death Benefit Proceeds will equal the Account Value less any Certificate Debt

We will pay interest on proceeds paid in one sum in the event of the Insured's death from the date of death to the date of payment The rate will be the same as declared for Option 1 in Section 24, or such greater rate as is required by law

4 2 DETERMINATION OF PEA TH BENEFIT

The Death Benefit of the certificate depends in part on which of the following Options is in effect The Death Benefit Option and Scheduled Face Amounts appear in Section 1

Option A: The Death Benefit is the greater of the sum of the Scheduled Face Amounts for all Coverage

Segments or the amount described below

Option B: The Death Benefit is the greater of the sum of the Scheduled Face Amounts for all Coverage Segments plus the Account Value on the date of death of the Insured, or the amount described below

The Death Benefit of the certificate will be increased if necessary to ensure that the certificate will continue to qualify as life insurance under federal tax law The Death Benefit will never be less than (i) the Account Value multiplied by (n) the applicable Required Total Death Benefit Factor shown in Section 1 10

A charge for any required increase in Death Benefit in effect on any Processing Date will be deducted from the Account Value on such date Such charge will be determined as described in the Cost of Insurance Charge subsection of Section 8.

If You have elected the Cash Value Accumulation Test (as shown in "Definition of Life Insurance Elected in Section 1 ), We reserve the right to modify the Required Total Death Benefit Factors, retroactively if necessary to ensure or maintain qualification of this certificate as a life insurance contract for federal tax purposes notwithstanding any other provisions of this certificate to the contrary

If You have elected the Guideline Premium Test (as shown in "Definition of Life Insurance Elected" in Section ' ι and We determine that the Premiums paid and applied by Us to the certificate would cause the certificate to be in violation of Section 7702 of the IRS Code or any successor provision, We reserve the right to either ui refund the excess Premium (unless such Premium is necessary to continue coverage) or (n) increase the Death Benefit under the certificate, retroactively if necessary, (and require evidence of insurability for such increase) so that at no time is the Death Benefit less than the lowest amount necessary to ensure or maintain qualification of this certificate as a life insurance contract for federal tax purposes, notwithstanding any other provisions of this certificate to the contrary 4 3 CHANGE OF DEATH BENEFIT OPTION

You may change the Death Benefit Option on Written Request a maximum of once during a certificate /ear The change will be effective on the Processing Date on or following the day We receive Your Wr tten Rec_es; at Our Service Center If the Death Benefit Option is changed from Option A to Option B the Face Amou-* will decrease by an amount equal to the Account Value just before the effective date of the change The decrease in Face Amount may result in the application of a partial surrender charge as described at the end of Section 44 2 However this change will not be permitted if the resulting Face Amount will be less than the Minimum Face Amount shown in Section 1 1 If the Death Benefit Option is changed from Ootion B to Oction A the Face Amount will increase by an amount equal to the Account Value just before the effective date of the change We will issue a new Scheduled Face Amount page for the most recent Coverage Segment that applies the amount of this change to all future years of that schedule

4 4 CHANGE OF FACE AMOUNT

Subject to Our approval You may change the Face Amount Schedule if such request is made

• during the lifetime of the Insured,

• not more than 30 days before any certificate anniversary and

• in writing while this certificate is In Full Force

4 4 1 Face Amount Increase

You must provide evidence satisfactory to Us that the Insured is msurable according to Our normal rues of underwriting for this type of certificate The effective date of the increased Face Amount will be the first Processing Date on or following the date all applicable conditions are met An increase in Face Amount will result in a new Coverage Segment for the amount of the increase For each Coverage Segment, there will be additional charges and factors as shown in Sections 1 4 through 1 9 We will issue a supplemental schedule of Face Amounts and of any revised certificate factors This infor at en will include

• the Premium Class,

• the effective date,

• the scheduled amount of the increase in Face Amount in the new Coverage Segment and the *otaι Scheduled Face Amount of all current Coverage Segments after the increase

• the guaranteed Cost of Insurance Rates if the new Coverage Segment is issued in a different Premium Class than the initial certificate,

• a new Schedule 1 10 Definition of Life Insurance Death Benefit Factors for the entire certificate if the new Coverage Segment is in a more favorable Premium Class than the initial Coverage Segment

• the Band 1 Premium and Band 2 Premium amounts for the new Coverage Segment

Limits on Face Amount increase - An increase in Face Amount will be allowed only if it results in a Death Benefit increase no less than Our minimum limit in effect on the date of the request

4 4 2 Face Amount Decrease

You may not decrease the Face Amount of any Coverage Segment before the second anniversary of the effective date of that Coverage Segment The effective date of the decreased Face Amount will _e the later of the requested effective date or the first Processing Date on or following the date We rece've the Written Request If there is more than one Coverage Segment in effect, the decrease will apply first to the most recent Coverage Segment If the decrease amount is greater than the most recent Coverage Segment the excess will be applied to successively earlier Coverage Segments

A revised schedule of Face Amounts and other certificate factors will be issued This schedule will include the following information

• the effective date of the decreased Face Amount,

• the Scheduled Face Amount of all current Coverage Segments after the decrease

• the revised Band 1 Premium and Band 2 Premium amounts for affected prior Coverage Segments If a requested decrease reduces a Coverage Segment s current Face Amount below the nma¹ a -z^i for that segment, a surrender charge may be apDiied to the Account Value on tne effect've -ate _^• -e change The calculation of that charge is described in Section 10

5 PAYMENTS

Premiums are payable at Our Service Center

Premiums may be paid at any time before the Insured attains Age 100, subject to the premium limitations below The Planned Premium is the amount You identified in the application, or later changed by Written Request, which You plan to pay Payment of the Planned Premium does not guarantee that the certificate will remain In Full Force A Premium reminder notice for Planned Premiums will be sent to You at the beginning of each payment interval

Any Payment received prior to the Certificate Date will be processed as if received on the Certificate Date All other Payments will be processed as of the day in which the Payment is received at Our Service Center Exempt Subaccounts may restrict the dates on which new Premiums may be allocated For Payments designated for Exempt Subaccounts, You must give Us notice in advance of the intended Payment The number of days in advance is specified in Section 1 11 as the Investment Notice Period for such Fund A Payment for such Fund will be allocated initially to the Money Market Portfolio, until the next Investment Date following the Investment Notice Period

When We receive a Payment, We first deduct any amount specified by You as payment of accrued interest cπ loans then due under Section 9 and any amount specified by You as loan repayment The remainder will constitute Premium We then deduct ail of the applicable charges listed in Section 1 5 under Certificate Charges Deducted from Premium Payments," as described in Section 5 1 The remainder will constitute Net Premium

You may pay Premiums in an amount other than the Planned Premium at any time while the certificate 's In Full Force At Our option, We may either (i) refuse any Premium that causes the certificate to be in violat'c _^■ Section 7702 of the IRS Code or any successor provision (unless such Premium is necessary to continue coverage), or (n) require evidence of insurability for any increase in the Death Benefit under Section 4 2 that would be required by Our acceptance of such Premium In this latter case, no Premium will be applied until acceptable evidence is received

5 1 CALCULATION OF PREMIUM LOADS

5 1 1 Application of Premium Load Factors

Premiums received in the first certificate year, up to the Band 1 Premium amount shown in Section ' 2 will be charged the Band 1 load shown in Section 1 5 First year Premiums in excess of the Band 1 Premium, up to a maximum additional amount equal to the Band 2 Premium, will be charged the Band 2 load. First year Premiums in excess of the sum of the Band 1 Premium and Band 2 Premium amounts will be charged the Band 3 load.

For Premiums received in each subsequent year Premium loads will be calculated on the following basis

1 ) If, in any of the previous four certificate years, total Premiums paid were less than the Band ¹ Premium, the new Premium will first be allocated to the oldest such year, up to the amount or such difference The Band 1 load for that year will be applied to the portion of the Premium allocated to that year

2) The remainder of the Premium will be allocated in the same fashion successively to each more recent year in which the Band 1 Premium exceeded the Premiums paid The Bar _ 1 load for each such year will be applied to the portion of the Premium allocated to that year

3) The Band 2 load will be applied to any remaining excess of the Premium over the Band 1 Premium for the current year up to the Band 2 Premium amount 4) Remaining Premiums in excess of the sum of the Band 1 Premium and Band 2 P-et"_m _(V , be charged the Band 3 load

5 1 2 Premium Loads with Multiple Coverage Segments

If the certificate has more than one Coverage Segment the certificate Total Band 1 Premium anc certificate Total Band 2 Premium are defined as the sum of the Band 1 Premiums and Band 2 Premiums respectively for all Coverage Segments Premiums received up to the certificate Total Bard 1 Premium will be allocated for the purpose of determining the applicable Band 1 Premium loads ,n the following order

1 ) first to the Band 1 Premium of the most recently added Coverage Segment

2) then to the Band 1 Premium of successively earlier Coverage Segments

The premium load applied to any certificate Total Band 2 Premium received will equal the weighted average of the current Band 2 Premium loads The premium load applied to any Premium received <n excess of the sum of the certificate Total Band 1 Premium and certificate Total Band 2 Premiums will equal the weighted average of the Band 3 Premium Loads These composite loads for each of Band 2 Premium and Band 3 Premium will be weighted according to the initial Face Amount for each Coverage Segment

6 GRACE PERIOD AND LAPSE

If the Account Value less Certificate Debt on a Processing Date is not sufficient to cover the current deduction as descπbed in Section 8, a grace period of 61 days from the date a notice is sent to You will be allowed for the Payment of sufficient Premium to keep Your certificate In Full Force

At the start of the grace period, We will send notice to You at Your last known address and to any assignee of record The notice will state the due date and the amount of Premium required for Your certificate to remain ^■- Full Force The minimum that must be received will be equal to the charges for a Processing Period (but not less than three times the charges for one month) as described in Section 8 and calculated as of the Processing Date when the deficiency occurred, plus the applicable Premium Load Net Premiums We receive during the grace period will be applied to Your certificate according to Your most recent Subaccount Investment Option choices There is no penalty for paying a Premium during the grace period When Payment is received, any charges, which are past due and unpaid, will be deducted from the Account Value

Your certificate will remain In Full Force during the grace period If sufficient Premium is not paid by the end o^f the grace period a lapse will occur Upon lapse, the certificate will terminate with no value If the Insured dies during the grace period, the Death Benefit Proceeds will be reduced by any overdue charges

No Rider provisions will be in effect after the certificate ceases to be In Full Force

7 ACCOUNT VALUE

The Account Value is the sum of (a) and (b) below where

(a) is the sum of the value of all Subaccounts The value of each Subaccount is equal to the number of shares in such Subaccount at the end of the Valuation Period multiplied by the unit value of such Subaccount at the end of the Valuation Period

(b) is the amount of the Loan Account, as defined in Section 9

7 1 NUMBER OF SHARES IN SUBACCOUNTS

When transactions are made that affect a Subaccount, dollar amounts are converted to number of shares The number of shares for a transaction is determined by dividing the dollar amount of the transaction by the unit value of the Subaccount as of the end of the Valuation Period in which the transaction occurs The number of shares increases when

1 ) any portion of a Net Premium is credited to that Subaccount,

2) transfers from other Subaccounts are credited to that Subaccount,

3) any portion of a loan is repaid and credited to that Subaccount The number of shares in a Subaccount decreases when ) any portion of a loan is taken from that Subaccount,

2) any portion of interest on the Certificate Debt is taken from that Subaccount,

3) any portion of the charges described in Section 8 is deducted from that Subaccount,

4) any portion of a partial withdrawal is made from that Subaccount, or

5) a transfer is made from that Subaccount to another Subaccount

72 UNIT VALUE OF SUBACCOUNTS

The unit value will vary from Valuation Date to Valuation Date to reflect the investment performance of the underlying Portfolio in which the Subaccount invests The unit value in any Subaccount is 510 00 (ten dollars on the first Valuation Date for the Subaccount. The unit value at the end of any subsequent Valuation Pence is equal to the unit value at the end of the immediately preceding Valuation Period multiplied by the Net Investment Factor, defined below, for that Subaccount for that Valuation Period

7 3 NET INVES TMENT FACTOR

The Net Investment Factor is determined for each Subaccount for each Valuation Period The Net Investment Factor is calculated as 1 plus the quantity A divided by B, where

A is the amount of investment income and capital gains and losses (realized and unrealized) of the Portfolio, minus any amount charged for taxes paid,

B is the total value of the Subaccount at the end of the prior Valuation Period

8 CHARGES

On the Certificate Date and on every Processing Date, We will deduct, in order, N times each of the charges (a) through (d) from the Account Value, where

N is the number of months in a Processing Period, as shown in Section 1 6, and

(a) is the monthly per $1000 charges for each Coverage Segment and the certificate fee as shown in Section 1 6 1,

(b) is the Mortality & Expense Risk Charge as descπbed below,

(c) is the Cost of Insurance Charge as described below, including the charge for any ratings and

(d) is the charge for any riders included with this certificate

8 1 MORTALITY AND EXPENSE RISK CHARGE

The Mortality and Expense Risk Charge (M&E Risk Charge) is to compensate Us for the risk We assume that mortality, expenses and other costs of providing Your certificate will be greater than estimated Beginning or the Certificate Date and on every Processing Date thereafter, the M&E Risk Charge will be calculated as a percentage of the unloaned Account Value The monthly percentage factor used is shown for each Coverage Segment year in Section 1 6 2 If there is more than one Coverage Segment In Full Force, the M&E Risk Charge percentage will be the weighted average of the rate for the current duration of each Coverage Segment The average will be weighted by the initial Face Amounts of each Coverage Segment 3 2 COST OF INSURANCE CHARGE

A Cost of Insurance Charge is deducted on the Certificate Date and each Processing Date for eacn Ccve-age Segment The monthly Cost of Insurance Charge for each segment equals ( 1 ) times (2), where

1 ) is the applicable monthly Cost of Insurance Rate on that date divided by 1 000 and

2) is the Net Amount at Risk on that date for that Coverage Segment

Each Cost of Insurance Charge is deducted in advance of the insurance coverage to which it applies

8 2 1 Cost of Insurance Rates

The Cost of Insurance Rates are based on a number of factors, including the Insured's Age, Premium Class, sex, and the Coverage Segment duration The current Cost of Insurance Rates will be determined by us These rates will not exceed the Guaranteed Maximum Monthly Cost of Insurance Rates shown in Section 1 7

8 2 2 Net Amount at Risk

The total Net Amount at Risk is the amount determined by subtracting (a) from (b) where

(a) is the Account Value at the end of the immediately preceding Processing Period, or the Certificate Date if being determined on that Date, less the certificate fee, per 51000 charges, and M&E Risk Charges due on the Certificate Date or Processing Date,

(b) is the total Death Benefit as of the Certificate Date or Processing Date divided by the equivalent of an annual effective interest rate of 4% for the number of months in the Processing Period

When more than one Coverage Segment is in effect, the total Net Amount at Risk will be allocated first to the most recent Coverage Segment. Any excess of the total over the current Face Amount of that Coverage Segment is then allocated to the successively earlier Coverage Segments

8 3 FACTORS SUBJECT To CHANGE

Premium Load Percentages, Administrative Charges, Surrender Charge Factors, Cost of Insurance Rates Mortality and Expense Risk Charge Rates, and Certificate Loan Factors may change from time to time subject to the maximums shown in Section 1 In deciding whether to change any of these charges, We will periodically consider factors such as Our expectations of future mortality rates, investment earnings persistency experience, applicable federal, state, and local taxes, and operating expenses to see if a change in Our assumptions is needed Changes in these factors will be by class All changes will be determined only prospectively, that is, We will not recoup prior losses or distribute prior gains by means of these changes

9 LOANS

You may borrow money from Us on receipt at Our Service Center of a completed form satisfactory to us assigning the certificate as the only security for the loan

Loans may be made if a Loanable Value is available and the certificate is not in a grace period as defined in Section 6 Each loan must be for at least 51 ,000 We may defer loans as provided by law or as provided in Section 18 The request for a loan from an Exempt Subaccount must be received by Us no later than the Full Liquidity Notice Date for such Subaccount The loan will then be processed as of the next Full Liquidity Date

The total Loanable Value while the Certificate is In Full Force will be equal to (a) minus (b) where

(a) is the Cash Surrender Value,

(b) is 12/N times the sum of all charges, described in Section 8 deducted from the Account Value ^for the processing period in which the loan is obtained where N is the number of months in a Processing Period

The amount of current loan available will be the Loanable Value on the date of the loan less the amount of ar/ existing Certificate Debt The amount of the loan will be removed from the Subaccounts specified in Your request If no Subacccurt 5 specified, the amount of the loan will be deducted in proportion to the value of Your certificate mvestrreⁿt " each Non-Exempt Subaccount on the date such loan is made If there is not enough value in the Noπ-Exe^c* Subaccounts, You must specify the Exempt Subaccount from which the balance of the loan will be removed Any amounts removed from an Exempt Subaccount will be subject to the deferral provisions in Section " 8

For a certificate with only one Coverage Segment in effect, the effective annual rate of loan interest charged on Certificate Debt for any year is as shown in Section 1 8 If there is more than one Coverage Segment in effect, the rate of loan interest charged will be the weighted average of the rate for the current duration of each Coverage Segment The average will be weighted by the initial Face Amounts of each Coverage Segment The loan interest charge will accrue daily and will be payable on each certificate anniversary and on the date the loan is settled

The "net loan charge" is the excess of the current Certificate Debt over the current Loan Account on the certificate anniversary If loan interest is not paid in cash when due, the net loan charge will be deducted from Subaccounts and transferred to the Loan Account according to the following priorities

First from any Non-Exempt Subaccounts You have designated for allocation of certificate charges to the extent that current value is available

In the absence of such instructions, or if there is not enough value in the designated Subaccounts the balance will be deducted in proportion to the value of Your current certificate investment in each Non- Exempt Subaccount on the date of the charge

If there is not enough value in all Non-Exempt Subaccounts, any remaining balance will be deducted from Exempt Subaccounts specified for certificate charges, or if none specified, in proportion to the value of Your current certificate investment in each Exempt Subaccount with the shortest Partial Liquidity Deferral Period

When a loan is made, the amount of the loan will be transferred to the certificate's Loan Account Upon loan repayment, the Loan Account will be reduced by the amount of the repayment The loan repayment will be allocated to the appropriate Subaccounts as stipulated in Your then current election of Subaccount Investmer' Options The certificate's Loan Account balance on any date other than a certificate anniversary is

1 ) The Loan Account on the prior Anniversary, plus

2) The amount of any additional loans since the anniversary, less

3) The amount of any loan repayments, including payment of loan interest in cash, plus

4) The amount of any interest credited at an effective annual interest rate shown in Section 1 8

The certificate Loan Account balance on any certificate anniversary is equal to the Certificate Debt on sucn anniversary

A loan may be repaid in full or in part at any time before the Insured's death, and while the certificate is In Fuil Force. All Payments We receive will be treated as new Premiums unless designated as a loan repayment

When excess indebtedness occurs, the certificate will terminate on the 61st day after the Notice Date if sucn excess has not been repaid by that day "Excess indebtedness" is the amount, if any, by which Certificate Debt exceeds an amount equal to the Account Value less any applicable surrender charge 'Notice Date ss the date on which notice of excess indebtedness is mailed to You and any assignee of record with Us at the address last known to Us The notice will specify how much needs to be paid to keep the certificate from terminating

Certificate Loan Factors are the Annual Interest Crediting Rate for Loan Account, and the Annual Interest Rate Charged on Certificate Debt Balances The current Certificate Loan Factors will be determined by Us from time to time The Annual Interest Crediting Rate for Loan Account will never be less than the rate stated for the current certificate year in Section 1 8 The Annual Interest Rate Charged on Certificate Debt Balances w,ιl never be greater than the rate stated for the current certificate year in Section 1 8 which will never be more than 8% We will notify You at the time a cash loan is made of the initial Annual Interest Rate Charged on Certificate Debt Balances If You have any existing Certificate Debt, We will send You reasonable advance notice of any increase in the Annual Interest Rate Charged on Certificate Debt Balances No certificate will end in a certificate year as the sole result of a change in the interest rate during that certificate year 10 SURRENDERS AND WITHDRAWALS

¹0 1 SURRENDER

The Net Cash Surrender Value' is the Cash Surrender Value less any Certificate Debt

The 'Cash Surrender Value" is the Account Value less any Surrender Charge

Upon Written Request while the Insured is living You may surrender this certificate for its Net Cash Surrender Value If all the Account Value is in Non-Exempt Subaccounts or the Loan Account, the certificate will terminate on the date the request is received If a portion of the Account Value is in an Exempt Subaccount the notice must be received by a Full Liquidity Notice Date, and the certificate will terminate on the next Full Liquidity Date Surrender will be made in accordance with the Deferral of Payments provisions of Section ^J 8

If shown in Section 1 9, a Surrender Charge will be deducted from the Account Value upon surrender of the certificate Each Coverage Segment will have a corresponding Surrender Charge If there are multiple Coverage Segments and if there is a decrease in the Face Amount such decrease will be applied to Coverage Segments as described in Section 4 4 2 If there is a decrease in the Face Amount of a Coverage Segment the Surrender Charge will not be applied as long as the Face Amount of the Coverage Segment immediately after the decrease is as least as great as the initial Face Amount for that Coverage Segment If a decrease n Face Amount, including a decrease due to withdrawals, reduces the Face Amount of a Coverage Segment below the initial Face Amount for that Coverage Segment, a pro-rata Surrender Charge will be deducted from the Account Value The pro-rata charge will equal the product of A times B, where

A is the Surrender Charge Factor for the current Coverage Segment duration shown in 1 9, and

B is the initial Coverage Segment Face Amount (or, if there have been previous decreases in the Coverage Segment, the lowest face amount considered in computing the surrender charge for a previous decrease) minus the new Coverage Segment Face Amount

10 2 WITHDRAWALS

You may request a withdrawal of part of the Net Cash Surrender Value You may specify the Subaccounts from which the withdrawal will be taken In the absence of such request, the amount of the withdrawal will be removed in proportion to the value of Your certificate investment in each Non-Exempt Subaccount on the date such withdrawal is made Each withdrawal must be at least 51 ,000 We may limit the number of withdrawals to 12 in a certificate year

Withdrawals from Exempt Subaccounts will be permitted only on the following basis, because of the limited marketability of assets in such funds

A withdrawal request must be made by a Partial Liquidity Notice Date The withdrawal will then be made as of the next Partial Liquidity Date for the Subaccount

The maximum withdrawal as of a Partial Liquidity Date is equal to the certificate's value in that Subaccount as of that date multiplied by the Partial Liquidity Factor for that Subaccount

The payment of the withdrawn amount may be deferred in accordance with the Deferral of Payments provisions of Section 18

All amounts withdrawn will be subtracted from Your Account Value Further, Your Death Benefit will be affected as follows, depending on the Death Benefit Option in effect

Death Benefit Option A - the Face Amount will be reduced by the total of all withdrawals

Death Benefit Option B - the Death Benefit will only be affected to the extent that the Account Value will be reduced by all amounts withdrawn Withdrawals will not affect the

Face Amount.

Your Death Benefit will continue to be determined in accordance with Section 4, subject to these provisions 11 BASIS OF COMPUTATIONS

Minimum surrender values reserves and net single premiums referred to in the certificate if any are computed on the basis of the Commissioners 980 Standard Ordinary Mortality Tables with percentage ratings if applicable, and based on the Premium Class of the Insured on the Certificate Date The computations are made using interest at the rate of 4% a year and using continuous functions

The Account Value while the certificate is In Full Force is computed as described in Section 7 A detailed statement of the method of computation of values has been filed with insurance supervisory officials of the jurisdiction in which this certificate has been delivered The values are not less than the minimum values unde^r the law of that jurisdiction Any values, reserves and Premiums applicable to any rider for an additional benefit shall be specified in the rider and have no effect in determining the values available under the provisions of this Section 11

12 THE SEPARATE ACCOUNT

The assets of any Separate Account are the property of the Company They shall be available to cover liabilities of Our general account only to the extent that the assets of the Separate Account exceed the liabilities of the Separate Account arising under the variable life insurance policies supported by the Separate Account

The Separate Account is divided into several divisions called Subaccounts Each Subaccount invests in shares of an Underlying Portfolio of a Fund The investment performance of a certificate depends on the performance of the Underlying Portfolios for the Subaccounts chosen The income, gains or losses, realized or unrealized, are credited to or charged against the assets held in the Separate Account without regard to the Company's other income, gains, or losses

When permitted by law, and subject to any required notice to You and approval by regulatory authorities or certificate owners, We have the right to make the following changes

Establish additional Subaccounts,

Substitute new Subaccounts,

Merge existing Subaccounts,

Eliminate Subaccounts,

Close existing Subaccounts to new investments,

Change the investment certificate of a Subaccount;

Register or de-register a Separate Account under the Investment Company Act of 1940, and

Change the name of a Separate Account

We may operate a Separate Account as a managed investment company or a unit investment trust or in any other form permitted by law, either registered or exempt from registration under the Investment Company Act of 1940

If any change results in a material change in the Underlying Portfolios of Subaccounts to which the Account Value for this certificate are allocated, We will notify You of such change You may then make a new election under the Allocation to Subaccounts Provision

13 ALLOCATION TO SUBACCOUNTS

The assets of the Subaccounts will be invested in shares of corresponding Portfolios The Portfolios will be valued at the end of each Valuation Period at a fair value in accordance with applicable law We will deduct liabilities attributable to a Subaccount when determining the value of a Subaccount The Portfolios available en the Certificate Date are shown in the application ^<■ 3 1 INITIAL PREMIUM ALLOCA TIQN

All Net Premiums credited to the Account Value prior to the end of the Right to Cancel period as snc " _- page 1 will automatically be invested in the Money Market Portfolio On the 5th day after the end of :re R -- to Cancel period, We will reallocate the amount in the Money Market Portfolio in accordance with the Subaccount Investment Options as chosen by You and shown in the application for this certificate

13 2 FUTURE PREMIUM AND CHARGE ALLOCA TIONS

We will allocate future Net Premiums and other credits among the Subaccounts in accordance with Your election of Subaccount Investment Options You may elect to change the Subaccount Investment Options chosen at any time A change will apply to Premiums received by Us after the day in which We receive notice satisfactory to us We may limit the number and frequency of such changes to no more than one during a Valuation Period nor more than 12 in a certificate year All percentages must be expressed as whole numbers The minimum percentage that may be allocated to any Subaccount and the maximum number of Subaccounts in which assets may be held will be subject to Our administrative rules in effect at the time of election

We will allocate any charges under Section 8 to the Subaccounts You specify In the absence of specific instructions, or if there is insufficient value in the designated Subaccounts, We will allocate charges among Non-Exempt Subaccounts in proportion to the value of Your certificate investment in each Non-Exempt Subaccount on the date of the charge If there is not enough value in all Non-Exempt Subaccounts any remaining charge will be deducted from Your current certificate investment in the Exempt Subaccount with t^κe shortest Partial Liquidity Deferral Period

13 3 TRANSFERS

You may elect to transfer assets held in the Subaccounts to any other Subaccount without charge We may limit the number and frequency of such transfers to no more than one during a Valuation Period nor more :ra

12 in a certificate year A transfer will be effective at the end of the Valuation Period in which We receive notice satisfactory to Us at Our Service Center However, Subaccount transfers wilt not be made if the certificate is in a grace period

We may also restrict the number, timing and amount of transfers in accordance with Our rules if Your transfer activity is determined by Us to be disruptive to the investment option or to the disadvantage of other Certificate Owners We may prohibit transfer requests made by an individual acting under a power of attorney on behalf of more than one Certificate Owner

13 4 SPECIAL CONSIDERA TIONS FOR ALLOCATIONS TO EXEMPT FUNDS

Net Premiums and Subaccount transfer requests to be allocated to an Exempt Subaccount will only be processed on an Investment Date for such Fund To be processed on that date, We must receive the following

1 ) Notice no later than the Investment Notice Date of the amount of new Premium or transfer intended to be allocated; and

2) Receipt of new Premium by the Investment Date

Transfers out of an Exempt Subaccount will also be subject to the limitations on timing and amount descπoeα in Section 18

14 ANNUAL REPORT TO CERTIFICATE OWNER

While the certificate is In Full Force, We will annually furnish a statement to the Certificate Owner which shows

1 ) The Death Benefit, in accordance with the Death Benefit Option elected, and the Account Value ail as of the date of the report,

2) Payments received and charges made since the last report, 3) Withdrawals since the last report,

4) Loan information, and

5) Any other information required by state law and regulation

15 REINSTATEMENT

If the certificate lapses under Section 6, it may be reinstated within 3 years after the beginning of the grace period

The date of reinstatement is the date on which We determine that all 3 requirements below have been satisfied:

(1 ) Receipt of a written application for reinstatement.

(2) Receipt of evidence of insurability satisfactory to us

(3) Receipt of a Payment which, after deduction of all applicable Premium Loads listed in Section 1 5 is at least equal to the sum of (i) all charges described in Section 8 that were unpaid on the date of lapse plus (II) the total of all Section 8 charges for the Processing Period (but not less than three certificate months) next following the date of reinstatement.

Requirements (2) and (3) above must be satisfied within 60 days after the date We receive the application for reinstatement

On the date of reinstatement (i) the Death Benefit of the certificate will be the same as if no lapse had occurred and (n) the certificate will have a Loan Account equal to any Loan Account at the end of the day immediately preceding the date of reinstatement.

The Account Value on the date of reinstatement will be the Account Value on the date of lapse plus the Net Premium received in connection with the reinstatement less the sum of all Section 8 charges that were unpaid on the date of lapse

The Surrender Charges on the date of reinstatement will be equal to any Surrender Charges applicable as of the current duration of the reinstated certificate and Coverage Segments

16 OWNER AND BENEFICIARY

16 1 CERTIFICA TE OWNER

The Certificate Owner is as shown in the Certificate Specifications or in a later Written Request If there are two or more Certificate Owners, they will own this contract as joint tenants with right of survivorship You shall have the sole and absolute power to exercise all rights and privileges without the consent of any other person unless You provide otherwise by Wntten Request. All rights of the Certificate Owner are subject to the rights of any recorded assignee and any irrevocable beneficiary, as further descπbed below

16 2 ASSIGNMENT

There are certain restrictions and limitations relating to traπsferabi ty of this certificate because it is being issued without registration under the Securities Act of 1933 in reliance on an exemption from registration under Section 4(2) and Regulation D of the Act. You may not assign, sell, or transfer it without Our prior consent A request for assignment or transfer must be in writing on a form that meets Our needs An assignment will take place only when accepted and recorded at Our Service Center When recorded, the assignment will take effect as of the date the Written Request was signed Any rights created by the assignment will be subject to any payments made or actions taken by Us before the change is recorded We will not be responsible for the validity of any assignment. 16 3 BENEFICIARY

The beneficiary is named by You in the application to receive the Death Benefit Proceeds The interest z' a- • beneficiary will be subject to any assignment If You have named a contingent beneficiary that person becomes the beneficiary if the beneficiary dies before the Insured

The interest of a beneficiary who does not survive to receive payment will pass to the surviving benefic ar es ^ proportion to their share in the proceeds, unless otherwise provided If no beneficiaries survive to receive payment, the Death Benefit Proceeds will pass to the Certificate Owner, or the Certificate Owner s estate f "he Certificate Owner does not survive to receive payment

16 4 CHANGES

While the Insured is alive, You may change the Certificate Owner and Beneficiary by Written Request on a form that meets Our needs You may also revoke any change of Certificate Owner prior to its effective date c/ Written Request You may designate an irrevocable beneficiary whose rights under the certificate cannot be changed without his or her consent

No change or revocation will take effect unless We acknowledge receipt of the notice If such acknowledgment occurs, then (i) a change of Beneficiary will take effect on the date the notice is signed and (II) a change or a revocation of Certificate Owner will take effect as of the date specified in the notice, or if no such date is specified, on the date the notice is signed A change or revocation will take effect whether or not You or the Insured is alive on the date We acknowledge receipt A change or revocation will be subject to the rights of any assignee of record with Us and subject to any payment made or other action taken by Us before We acknowledge receipt

17 RIGHT TO CONVERT TO A GENERAL ACCOUNT POLICY

At any time within two years from the Certificate Date, You may elect to exchange this certificate for an individual general account universal life policy sold by Us that contains minimum interest rate guarantees and does not allow allocations to a Separate Account No evidence of insurability will be required for the exchange The provisions determining the effective date of the exchange are the same as those that apply to the effective date of surrender as described in Section 10

To exchange this certificate

1 You must give Us a Written Request at our Customer Service Center along with this certificate

2 The Insured must be living on the Exchange Date

3 Any assignee must agree, in writing to the exchange

4 The certificate must be In Full Force

5 If this certificate is in the grace period when the Written Request is received, the first premium for the new policy must be paid on or before the Exchange Date

If all of these conditions are met, the exchange will take effect on the Exchange Date If all the Account Value is in Non-Exempt Subaccounts or the Loan Account the Exchange Date will be the date the Written Request is received, together with all other requirements If a portion of the Account Value is in an Exempt Subaccount, the Written Request must be received by a Full Liquidity Notice Date, and the Exchange Date Λ'.I be the next Full Liquidity Date

This certificate will end, unless otherwise terminated, on the day before the Exchange Date

The new policy will have the same Policy Date, risk class and issue age as this certificate On the Exchange Date, the new policy will have the same face amount as this certificate as of the Exchange Date Any existing debt on this certificate will be transferred to the new policy The new policy will contain the same additional benefits provided by rider attached to this certificate if such benefits are available with the new policy The account value of the new policy on the Exchange Date will be equal to 1 the Account Value of this certificate on the Valuation Date before the Exchange Date olus

2 any new net premium credited to the new policy on the Exchange Date minus

3 the monthly deduction made for the new policy on the Exchange Date

The new policy s provisions including any additional benefits provided by rider and any charges applicace -o the new policy beginning with the Exchange Date, will be such as would have applied if that policy has been issued originally The new policy will be subject to any existing assignment of this certificate

18 DEFERRAL OF DETERMINATIONS AND PAYMENTS

During any period when the New York Stock Exchange is closed for trading (except for normal holiday closings) or when the Securities and Exchange Commission ("the SEC") has determined that a state of emergency exists which may make payment impractical, or the SEC by order permits postponement for the protection of Our certificateholders, We reserve the right to do the following

(1 ) To defer determination of the Account Value, and if such determination has been deferred to defer

(a) determination of the loanable value as defined in Section 9 as of the end of the day We receive the loan application at Our Service Center and payment of the loan, and

(b) payment or application of any Death Benefit Proceeds

(2) To defer determination, application, processing or payment of a Surrender Value or any other certificate transaction dependent upon Account Value

Additional deferrals may apply to payment of Account Values allocated to Exempt Subaccounts, because of restricted marketability of assets in the Underlying Portfolios

(1 ) For certificate surrenders, payment of an Exempt Subaccount value less the Liquidity Reserve Value will be made no later than the Full Liquidity Deferral Period following the Full Liquidity Date on whιcⁿ the surrender is effective The Liquidity Reserve Value is no greater than the Liquidity Reserve Factor for such Subaccount times the value of the certificate investment in the Subaccount The final payment of the Liquidity Reserve Value may be deferred until a date no later than three months after the calendar year end coinciding with or following the surrender date The payment at that time may be greater than or less than the initially estimated amount, based on the audited results of the Underlying Portfolio

(2) For certificate loans, values from an Exempt Subaccount less the Liquidity Reserve Value, as defined above, will be paid no later than the Full Liquidity Deferral Period following the Full Liquidity Date on which the loan is effective

(3) For withdrawals or transfers to a different Subaccount, payment from an Exempt Subaccount will be made no later than the Partial Liquidity Deferral Period following the Partial Liquidity Date on which the withdrawal or transfer is effective

(4) For payment of Death Benefit Proceeds payment from an Exempt Subaccount will be made no later than the Full Liquidity Deferral Period following the Full Liquidity Date following the date We receive due proof of the Insured's death

Except as provided in this provision We will make payment of the Death Benefit, any Net Cash Surrender Value, any withdrawal, or any loan amount within 7 days of the date it becomes payable

19 CLAIMS OF CREDITORS __

The proceeds and any income payments under the certificate will be exempt from the claims of creditors to ^* e extent permitted by law These proceeds and payments may not be assigned or withdrawn before becoming payable without Our agreement 20 INCONTESTABILITY

This certificate, except any provision for reinstatement or certificate change requiring evidence of nsurac. ^•, shall be incontestable after it has been In Full Force during the lifetime of the Insured for two years from .ts Certificate Date, except for certificate termination under Section 9 or certificate lapse under Section 6

A reinstatement and any certificate change requiring evidence of insurability shall be incontestable after it ras been In Full Force during the lifetime of the Insured for two years from the effective date of such reinstatement or certificate change, except for certificate termination under Section 9 or certificate lapse under Section 6

Any new Coverage Segment as defined in Section 4 4 shall be incontestable after it has been In Full Force during the lifetime of the Insured for two years from the effective date of such Coverage Segment except for certificate termination under Section 9 or certificate lapse under Section 6

Any Premium Payment which We accept under Section 5 subject to insurability shall be considered a certificate change for purposes of this Section Any increase in the Death Benefit resulting from such Pay^eⁿt shall be governed by the immediately preceding paragraph

21 MISSTATEMENTS

If the Age or sex of the Insured has been misstated, We will adjust the Face Amount, and every other benefit payable upon death to that which would have been purchased at the correct Age or sex by the most recent Cost of Insurance -charge deducted under Section 8

22 SUICIDE EXCLUSION

If the Insured commits suicide, while sane or insane, within 2 years from the Certificate Date, the certificate \ terminate on the date of such suicide and We will pay (in place of all other benefits, if any) an amount equal Ό the Premiums paid less the amount of any Certificate Debt on the date of death and less any withdrawals under Section 10 Coverage under the certificate and all riders will then terminate

If the Insured commits suicide, while sane or insane, after 2 years from the Certificate Date and within 2 years of the effective date of a new Coverage Segment, or of an increase in any other benefit, We will make a limited payment to the beneficiary for the new Coverage Segment or other increase (in place of the stated benefits of such increase) This payment will equal the Cost of Insurance and any other applicable charges deducted for such increase

If the Insured commits suicide, while sane or insane, after 2 years from the Certificate Date and within 2 years from the effective date of any increase in the Death Benefit resulting from any Payment of Premium for which We required evidence of insurability under Section 5, the benefits payable under the certificate will not include the amount of such Death Benefit increase but will include the amount of such Premium

23 THE CERTIFICATE

This certificate is a summary of the Group Contract No part of the Group Contract will invalidate or impair ary right granted to You by this certificate

The written application for the certificate is attached at issue Additional Written Requests or applications for certificate changes or acceptance of excess Payment under Section 5 may be submitted to Us after issue and such additional requests or applications will become part of the certificate All statements made in any application shall, in the absence of fraud, be deemed representations and not warranties We will use no statement made by or on behalf of the applicant or an Insured to defend a claim under the certificate unless t is in a written application Certificate years, certificate months and certificate anniversaries are measured from the Certificate Date

Any reference in this certificate to a date means a calendar day ending at midnight local time at Our Service Center We reserve the right to make any changes necessary in order to keep this certificate in compliance with an/ changes in federal or state tax laws Other changes in this certificate may be made by agreement between ^,|-e Group Contractholder and Us with Your consent Only the President Vice President the Secretary or an Assistant Secretary of the Company has authority to waive or agree to change in any respect any of the conditions or provisions of the certificate, or to extend credit or to make an agreement for us

24 SETTLEMENT PROVISIONS

In place of a single payment, an amount of 52,000 or more payable under the certificate as a benefit or as the Surrender Value may be left with us, under the terms of a supplementary agreement The agreement will be issued when the proceeds are applied through the choice of any one of the options below, or any additional options We, in Our sole discretion, may make available after issue We shall at least annually declare the rate of interest or amount of payment for each option Such declaration shall be effective until the date specified «π the next declaration

24 1 OPTIONAL METHODS OF SETTLEMENT

Option 1— Interest income at the declared rate but not less than 3 5% a year on proceeds held on deposit The proceeds may be paid or withdrawn in whole or in part at any time as elected

Option 2A— -Income of a Specified Amount, with payments each year totaling at least 1/12th of the proceeds until the proceeds plus interest is paid in full We will credit interest on unpaid balances at the declared rate but not less than 3 5% a year

Option 2B — Income for a Fixed Period with each payment as declared but not less than that shown in the Table for Option 2B

Option 3— Life Income with Payments for a Guaranteed Period, with each payment as declared but not less than that shown in the Table for Option 3 If the Payee dies within that period, We will pay the present value of the remaining payments In determining present value, We will use the same interest rate used to determine the payments for this option

Option 4 — Life Income without Refund at the death of the Payee of any part of the proceeds applied The amount of each payment shall be as declared but not less than that shown in the Table for Option 4

Option 5— Life Income with Cash Refund at the death of the Payee of the amount if any, equal to the proceeds applied less the sum of all income payments made The amount of each payment shall be as declared but not less than that shown in the Table for Option 5

You may choose an option by written notice to us (a) while the Insured is alive, and (b) before the proceeds become payable If You have made no effective choice, the Payee may make one by written notice within \a⁾ 6 months after the death of the Insured, or (b) 2 months after the date on which the proceeds, if any, are payable in any case except death.

No choice of an option may provide for payments of less than 550 00 The first payment will be payable as of the date the proceeds are applied, except that under Option 1 it will be payable at the end of the first payment interval

The Payee under an option shall be the Certificate Owner if living, and otherwise the Beneficiary

No option may be chosen without Our consent if the proceeds are payable (1) in any case except death before the certificate has been In Full Force on the same plan for at least 5 years, or (2) in any case to an executor administrator, trustee, corporation, partnership, association, or assignee

A Payee may, by written notice, name and change a Contingent Payee to receive any final amount that wo_._ otherwise be payable to the Payee s estate

VARIABLE LIFE INSURANCE CERTIFICATE

The Death Benefit Proceeds are payable at the death of Insured

This is a Flexible Premium Variable Universal Life Insurance Certificate

The Face Amount is adjustable

Benefits, Premiums, and the Premium Class are shown in the Certificate Specifications

This is a Non participating certificate

Term Rider

This Rider is made part of the Certificate to which it is attached. It provides an additional death benefit on the life of the insured. The Rider effective date is the Certificate Date or, if added later, the Processing Date on or next following the date Your application for this Rider is approved by Us. The Certificate Owner is the Owner of this Rider.

The total Death Benefit determined in Section 4 of the Certificate will be increased cy the ^fc!low:^πg amc_r

Charge for this Rider

There is no separate Premium for this Rider A Rider Cost of Insurance charge will be deducted frcn tre Account Value for the above additional death benefits on the Certificate Date and each Processing Date T ,s monthly Rider Cost of Insurance Charge is equal to (1 ) times (2), -where

1 is the applicable monthly rate on that date divided by 1 ,000, and

2 is the Rider Death Benefit on that date

Each Cost of Insurance Charge is deducted in advance of the insurance coverage to which it aoplies

The Rider Cost of Insurance Rates are based on a number of factors including the Insured's Age Premium Class and the Rider duration The current Rider Cost of Insurance Rates will be determined by Us Tnese rates will not exceed the Guaranteed Maximum Monthly Cost of Insurance Rates shown in Section 1 6 Any change in current monthly rates will be made on a uniform basis for insureds of the same sex, Issue Age ana Premium Class, including smoker status, and whose certificates have been in force for the same length cf

Termination

This Rider will terminate on the date of the first to occur of the following events

1 The Certificate is surrendered or the entire Surrender Value is applied under a Settlement Octic 2. The Certificate terminates due to lapse or the death of the Insured

3 You request the termination of this Rider

Terms

All of the terms used in this Rider have the same meanings as in the Certificate unless otherwise c'ear indicated in this Rider

PRESIDENT SECRET RY Enhanced Death Benefit Rider

This Rider is made part of the Certificate to which it is attached. It provides an additional Death Benefit in certain years. The effective date of this Rider is the Certificate Date or, if added later, the Processing Date on or next following the date Your application for this Rider is approved by Us. The Certificate Owner is the Owner of this Rider.

The Death Benefit of the Certificate will be increased if necessary to ensure that the Certificate will continue *o qualify as life insurance under federal tax law The Death Benefit will never be less than the Account Value multiplied by the greater of A and B where

A is the applicable Required Total Death Benefit Factor shown in Section 1 10,

B is the applicable Enhanced Death Benefit Factor

Charge for this Rider

There is no separate premium for this Rider Cost of Insurance charges will be deducted from the Account Value for any resulting additional Death Benefit of the Rider as described in Section 8 2 of the Certificate Termination

This Rider will terminate on the date of the first to occur of the following events

1 The Certificate is surrendered or the entire Surrender Value is applied under a Set 'e^e^: Oc _-

2. The Certificate terminates due to lapse or the death of the Insured

3. You request the termination of this Rider

Terms

All of the terms used in this Rider have the same meanings as in the Certificate unless otherwise clear , indicated in this Rider

PRESIDENT SECRETARY

Enhanced Surrender Value Rider

This Rider is made part of the Certificate to which it is attached. It provides an enhancement to the cash value upon surrender of the Certificate in the first nine years of a Coverage Segment. The Rider effective date is the Certificate Date. The Certificate Owner is the Owner of this Rider.

This Rider provides an Enhancement Amount that is used in the determination of Net Surrender Value Loanable Value, Net Amount at Risk, and lapse calculations for the Certificate, as further described below The Enhancement Amount for the Certificate is equal to the sum of the current Enhancement Amount for each Coverage Segment. The Enhancement Amount for each Coverage Segment equals A times B below where:

A = the Enhancement Factor for the current Coverage Segment year from the table below and B = the amount of Premium received in the first year of the Coverage Segment up to the Band 1 Premium for that Coverage Segment.

If you surrender this Certificate in accordance with Section 10, the Net Cash Surrender Value will be increased by the current Enhancement Amount.

The Net Amount at Risk defined in Section 8.2 is decreased by the current Enhancement Amount.

The Enhancement Amount has no effect on the Death Benefit as described in Section 4, the determination of grace period and lapse as described in Section 6, the Loanable Value as defined in Section 9, the amount which may be withdrawn from the Certificate as defined in Section 10 2. or any other benefits of the Certificate not specifically described in this Rider

Charge for this Rider

The cost for this Rider is included in the charges described in Section 1 6 of the Certificate

Termination

This Rider will terminate on the date of the first to occur of the following events:

1 The Certificate is surrendered or the entire Surrender Value is applied under a Settlement Option

2 The Certificate terminates due to lapse or the death of the Insured.

3 The Certificate anniversary nearest the insured's 100^m birthday. Terms

All of the terms used in this Rider have the same meanings as in the Certificate unless otherwise clear',- indicated in this Rider.

PRESIDENT SECRETARY

Return Of Premium Rider

This Rider is made part of the Certificate to which it is attached. It provides an additional death benefit when the premiums paid for the Certificate exceed the total of any withdrawals made from the Certificate. The Rider effective date is the Certificate Date or, if added later, the Processing Date on or next following the date Your application for this Rider is approved by Us. The Certificate Owner is the Owner of this Rider.

The definition of Death Benefit Options in section 4 2 is replaced by the following

Option A: The Death Benefit is the greater of (1 ) or (2) below

1) The Scheduled Face Amount as shown in section 1 4, plus the following amount

The sum of all premiums paid from the effective date of this Rider less the total of a withdrawals from this effective date, but not less than zero

2) The Required Total Death Benefit as described in Section 4 3

Option B: The Death Benefit is the greater of (1 ) or (2) below

1) The Scheduled Face Amount as shown in section 1 4, plus the greater of (a) or (b) where

(a) = the Account Value on the date of death of the Insured,

(b) = the sum of all premiums paid from the effective date of this Rider, less the total of all withdrawals from this effective date but not less than zero

2) The Required Total Death Benefit as described in Section 4 3

Charge for this Rider

There is no separate premium for this Rider Cost of Insurance charges will be deducted from the Account Value for the additional death benefit of the Rider as described in Section 8 2 of the Certificate

Termination

This Rider will terminate on the date of the first to occur of the following events

1 The Certificate is surrendered or the entire Surrender Value is applied under a Settlement Opt.or

2 The Certificate terminates due to lapse or the death of the Insured

3 You request the termination of this Rider

4 The Certificate anniversary nearest the insured's 100^tf" birthday

Terms

All of the terms used in this Rider have the same meanings as in the Certificate unless otherwise cear'y indicated in this Rider

PRESIDhNT SECRETARY APPENDIX B Product Definition © M Financial Group 2001 1 INTRODUCTION

1.1 PRODUCT AND MARKETING OVERVIEW

1.2 INTRODUCTION

The M Financial Private Placement Project will provide M Financial Member Firms' a Private Placement Variable Universal Life product chassis that allows a high degree of flexibility to customize load structure, compensation structure and fund selections. M Financial intends to use this product chassis with multiple insurance carriers using a "Private Labeling" approach.

The basic product chassis will allow for both individual and joint last survivorship product applications. The administration system should allow both individual ownership and corporate (COLI) ownership cases, ie list bill and other group or multi-life processing.

The Product Chassis will be able to support alternative investment products, which may have non-daily valuations and limitations of timing of deposit, surrender, and withdrawal availability. Administrative procedures and systems will need to be established to handle these types of funds. The administration system will also need to support the ability to add new fund options quickly and offer product variations based on selecting specific funds or fund managers unique for a specific case.

The Policy Administration System will be required to generate and maintain a "data warehouse" of historic and current policy information along with links to allow multiple users access to selected data using the latest technology and communications techniques. Users for data access include M Finanical, Life Insurance Carriers, M Financial Member Firms, Policyholders and Policyholders Advisors. Appropriate controls and security will be required for the data access system. The administration system will be required to provide various links to links to the life carriers home office and M Financial financial reporting, valuation, reinsurance, commission and policy servicing systems, plus field/producer access to policy values and history with links to inforce illustration and client administration systems. In general, the administration system is expected to deliver client/producer service that ranks among the "best practices" in the financial services industry.

1.3 PRODUCT SUMMARY

A summary of the product features:

- Variable Universal Life Mechanics

- Single Life and Survivorship Life options

- Individual or COLI Product is a private placement offering, qualifying for exemption from SEC registration through both 3(c)(1) and 3(c)(7) versions. The 3(c)(1) version requires tracking the number of separate policy owners, to avoid exceeding the 100 beneficial owner cap.

Designed for sale exclusively by M Financial Group producers.

Alternative Investment Funds that do not have daily valuation may be available

Ability for client to select additional fund managers

Product may be offered at Multiple Carriers - Private Label

Death benefit flexibility through an additional coverage feature

Three death benefit options and choice of either CVAT or GPT DOLI tests

Option A: Face amount only

Option B: Face plus fund value

Rider to Enhance Death Benefit using an "enhanced" corridor

Premiums paid at the maximum non-MEC level are expected to be common, requires complete MEC testing to be available at issue and for all post-issue transactions.

Product Loads and Commissions will be highly customizable on a case by case basis.

Front End Loads and/or Back-End Loads and Surrender Charges will be applied.

Commission schedules will be customizable and can vary by case.

COI Charges will be formula driven and can vary based on policy design

Administrative System needs to feed and maintain a data warehouse that will allow all end users, Member Firms, Policyholders, Carriers, M Financial, to access and create various reports

1.4 OVERVIEW PRODUCT MECHANICS a) The product chassis uses basic Variable Universal Life product mechanics. This generally implies that premiums net of loads are added to the policyholder's account value. Periodically, charges are computed and subtracted from the policyholder's account value. And finally, upon withdrawal or surrender of funds from a policyholder's account value a charge may be assessed. b) Periodic charges- will be based on the total death benefit expected over the upcoming period plus other fixed or asset based policy charges. The processing period, for policy charges is expected to be monthly (e.g. on policy monthiversaries). However, the ability to use alternate processing periods, such as quarterly, or to fix the processing to a specific date, such as first of the month, would be a key plus in the design of the system. One thought is that ideally, the system can handle processing periods as short daily, and then use rules to suppress processing to achieve longer processing frequencies. c) Commissions. The system will need to generate feeds to carrier based commission systems and/or pay commissions directly. The system should have the flexibility to code and track different types of commissions and commission splits. The system should also be able to handle commission charge back rules. (For example 50% of all commissions paid over the last three years.) Separate premium and asset-based overrides are also paid to MFH.

2 UNDERWRITING AND RISK CLASSIFICATION

2.1 STANDARD CLASSES

The illustration system is going to be defined so that a number of underwritten and guaranteed issue classes can be defined. For each class that is defined, a set of tables will be mapped to that class, These tables include both current and guaranteed mortality tables as well as many product factors that are used in the module and load calculation sections.

We anticipate the need for space to be developed for at least 8 Underwritten Classes and 6 Guaranteed Issue Classes. Note however that every slot may not necessarily be used or available once a particular Product Version is created.

The current choices that can be selected are envisioned from

Sex- Male, Female, Unisex

Class- Preferred, Standard

Smoker- Nonsmoker, Smoker, Aggregate

Underwriting- Medical, Simplified Issue, Guaranteed Issue

Then for example,

Name Sex Smk Current q Guaranteed q

Class 1 Male Pref M NS M Prefq 80 CSO ANB Male Class 2 Male Std M NS M Std q 80 CSO ANB Male Class 3 Female Pref F NS F Prefq 80 CSO ANB Female Class 4 Female Std F NS F Std q 80 CSO ANB Female

2.2 SUBSTANDARD

• All classes will allow for substandard multiple ratings to be applied.

• In addition, permanent and temporary flat extra ratings can be applied as well.

2.3 CLASS STATUS CHANGE

With proper underwriting approval, an insured could become associated with a different class at point in scale mortality rates. This change would be considered a material change but there would be no change in the load components or the current policy duration.

3 MORTALITY RATES - CURRENT AND GUARANTEED

3.1 CURRENT MORTALITY RATES

For Standard Lives, we anticipate mapping the underlying mortality for each designated class to the Mq2000 Table that is under development. This table is expected to have the following structure.

AV This table will be 6 Underwritten Classes and 4 Guaranteed Issue Classes

Male Preferred Nonsmoker

Male Standard Nonsmoker

Male Standard Smoker

Female Preferred Nonsmoker

Female Standard Nonsmoker

Female Standard Smoker

Male Nonsmoker Guaranteed Issue

Male Smoker Guaranteed Issue

Female Nonsmoker Guaranteed Issue

Female Smoker Guaranteed Issue The table will be Lifetime Select, that is all issue ages have there own select rates for until the maturity age. The table may go out to age 110.

For use in the calculations within this document, for issue age x, policy duration t, current mortality rates will be referenced as ^std _[x]+t_₁ . For Survivorship policies issue age x will be the age of the younger insured, see section on Frasierization on how to calculate the joint last survivorship rates.

3.2 GUARANTEED MORTALITY RATES

For Standard lives, guaranteed mortality is expected to be mapped to the 1980 CSO ANB Aggregate Mortality Tables for Male and Females. For the calculations below the guaranteed standard rates will be referenced as ^80CSOq_x+t_₁

3.2.1 Maximum Mortality

In addition to the guaranteed mortality rates in the Carrier Utility two factors will be defined to act as global maximum mortality charges, up to a certain attained age. A factor will be defined for each Male and Female lives.

^Ma q^Maie _→ Q_{an eτ} utility Defined Maximum Mortality Rate for Males up to maxqage.

^Ma q^{Fem ie} _→ Carrier Utility Defined Maximum Mortality Rate for Females up to maxqage. maxqage — Maximum age to apply maximum mortality cap. Above this age the guaranteed table rate is the cap.

3.3 SUBSTANDARD MORTALITY RATES

3.3.1 Table Ratings

Substandard Table Ratings will be available to be applied to the underlying mortality for rated cases.

For Survivorship policies each individual life may have an independent table rating. (For example, Life Male could be table A, Life Female could be table D)

The Carrier Utility will allow for Tables to be named and associate a rating factor to the table name. In addition the user will have the option to override the Table Rating an insert a multiple to be applied. For example,

Table Name Rating

Standard 1

Table A 1.25

Table D 2

Table J 4.5

Table U Uninsurable

Table Z User Specified Override Entered (value entered must be greater than 1)

Note different carriers may have different multiples mapped to the table ratings.

3.3.1.1 Current Mortality - Substandard Table Ratings

Current mortality rates would be calculated by multiplying the standard q times the table rating.

If attained age less than maxqage,

^Cu,τq_[xι_+t__l = minimum(^stdq_[x]+t_₁ x TableRating, ^q⁵") ,

else,

^Cuιr q_w+t_, = minimum(^{s d}q_[x]+t_, x TableRating.l)

Rounding Rule: Round to 6 decimals per $1 of insurance

3.3.1.2 Guaranteed Mortality - Substandard Table Ratings

Guaranteed Mortality for substandard table ratings will be the greater of the standard guaranteed mortality rate or the actual current COI charge to the policyholder. However, in no circumstances will the guaranteed rate be allowed to exceed ^80Csoq x TableRating .

Thus,

^TaxGuarq_*+t-, = minimum(^80CSOq_x+t_₁ x TableRating, max imum(^80CSOq_x+t_₁,^Cuιrq_x+t_₁))_!

This is also capped with the ^Max q^" , up to the maxqage.

^PolicyGuarq _+t-,

x TableRating)

This is also capped with the ^Max q^Sc* , up to the maxqage.

Note this is a change new to version 1.4, this is to add some margin in the current substandard COI over the guaranteed COI.

The COI reference here is the COI calculated by applying the multiplicative and additive factors that result for the module calculations but before being capped by the guaranteed rate. 3.3.2 Permanent and Temporary Flat Extras

Some Carriers may define permanent flat extras to only apply for a fixed period of time so the carrier utility needs to define how long to apply the permanent flat extra.

Carrier Utility Defined

PermanentFlatExtraYr — > Carrier Utility Defined to Defined Number of Years to

Apply Permanent Flat Extra

User Defined

TemporaryFlatExtra = Amount per $ 1000 of Temporary Flat Extra

TermporaryFlatExtraYr= Number of Years to Apply Temporary Flat Extra

PermanentFlatExtra = Amount per $ 1000 of Permanent Flat Extra

TermporaryFlatExtraYr must always be <= PermanentFlatExtraYr

If Duration t <= TemporaryFlatExtraYr and PermanentFlatExtraYr

Then FlatExtra_t = TemporaryFlatExtra + PermanentFlatExtra

If Duration t > TemporaryFlatExtraYr but Duration t <= PermanentFlatExtraYr

Then FlatExtra_t = PermanentFlatExtra If Duration t > PermanentFlatExtraYr Then FlatExtra_t = 0

3.4 SINGLE LIFE

The underlying mortality rates would be the rate looked up in the appropriate single life table.

3.5 JOINT AND LAST SURVTVOR

Maximum number of lives on joint survivor policy is 2.

3.5.1 Joint Equal Age

JEA= average of two ages → — — — (Female-6)

Rounding Rule: Truncate to 0 decimals, ie Round to Lower Integer.

3.5.2 Frasierization

The Frasierization formula creates a single status mortality rate by combining two individual life mortality rates using a weighted average of survival in each status approach.

For this product, a set of three frasierized rates will need to be developed, on the following bases:

• Current Mortality with table ratings applied to each individual life as applicable • Guaranteed Mortality assuming both lives are standard

• Guaranteed Mortality with table ratings applied to each individual life as applicable If both lives are Standard then only the first two tables would be needed.

3.5.2.1 Frasierization Definition of terms

Suppose we have two individual lives, life x and life y, then define, q_x+t = q for single life (x) at duration t (current with table rating, guaranteed standard, guaranteed with table rating, as applicable) from the mortality table with the appropriate table ratings applied. q_y+t = q for single life (y) at duration t (current with table rating, guaranteed standard, guaranteed with table rating, as applicable) from the mortality table with the appropriate table ratings applied.

q~_+t ⁼ _x+t ^x _+t » 3 °^r ^^ast survivor single life (xy) at duration t (current or guaranteed, as applicable)

AC_t = additional charge at duration t ( Typically used for Contagion Charges.) This needs to be input in the Carrier Utility as a durational table that is identical for all underwriting classes .

Then for Survivorship Cases either two or three frasierizations will be required.

Rounding rules for Fraiserized Rates:

For currQ, we are using the single life curr q 's which have been rounded to 6 decimals going into the Fraiser Formula, the resulting fraiserized curr q is rounded nearest to 8 decimals per $1 of insurance.

For guar q , we round the fraiserized results to 8 decimals nearest per SI of insurance.

For tax guar q, we round to 8 decimals nearest per $1 of insurance.

3.5.2.2 Frasier Formula

Using the Frasier method described below, combine single life rates into a joint life rate.

(The Frasier method here refers to a survivorship joint life product where the death benefit is paid out at the second death versus a first to die joint life product where the death benefit is paid out at the first death.) oP_x ^{= 1}

θ Py ^{= 1}

-I n „

Lx+t-I:y+t- = 1- Px +tPy -(tPx XtPy )

+ AC_t_,

V t-l Px +t-lPy -(t-l Px Xt-l Py ) note: AC, = Defined in Carrier Utility Table as a durational table.

The resulting q's are the frasierized q's which are annual rates per $1. (no rounding should take place here)

4 VARIABLE ACCOUNT

4.1 GENERAL DESCRIPTION

This product will have the ability to specify a menu of funds options that will be available to the policyholder.

For each fund option, a user needs to specify the following variables.

FundName - Unique Name to refer to the Fund

FundAdvFee -» Fund Advisory Fee

FundExpFee — > Fund Expense Fee

FundRefund— Fund Refund Amount to adjust for the availability of pricing components in the other charges.

FundLiq — Defines any Liquidity Restriction on the Fund.

(Note this will either be a code or a few variable to define things such as valuation frequency, when money can enter, when money can leave fund, what happens to or restrictions on money that leaves the fund.) Will need to discuss implications and how we should defined more fully.

4.2 DOLLAR COST AVERAGING

The administration system should provide for Dollar Cost Averaging for transfers between funds. This would be a monthly transfer of some amount wither units or specified dollar amount between one fund and another.

4.3 AUTOMATIC REBALANCING

The administration system should allow the policyholder to specify a frequency for automatic rebalancing of the fund assets to meet a pre-determined fund allocation. May not be allowed on funds with liquidity restrictions.

4.4 PROCESSING FUNDS FOR ILLUSTRATIONS

4.4.1 Gross Interest Assumption

The illustration user will need to input the gross investment return to be used each year for illustration purposes. ^ross i _t = User input of gross investment returns to be used each year for projection purposes.

In addition to the User input investment returns cur current charge illustrations, model scenario runs will need to be run assuming guaranteed charges using the User input investment returns. Additionally, a 0% gross investment return illustration will need to be generated at current and guaranteed mortality and expense charges, as well.

4.4.2 Guaranteed Interest Assumption Used For Discounting in COI Calc

The illustration system needs to have a carrier utility defined input:

Guar

1 = Carrier Utility Defined Input for DB discounting in the COI Calculation.

4.4.3 Fund Selection and Fund Charges

For determining the level of fund expense charges to be illustrated, the User will have the option to specify the fund allocation or choose to use an arithmetic average of all funds that are available for this specific policy configuration.

If the fund allocation is specified, then a weighted average of the Fund charges and refunds are used in the illustration calculation.

If the average funds is chosen then an arithmetic average of the Fund charges and refunds is used.

The following variables need to be determined for the user fund selection options to be used in the calculation of net investment return.

^TotalFundAdvFee

^TotalFundExpFee

^TotalFundRefund

4.4.4 Net Investment Rate

The annual net investment rate, ^Net i _t , to be used in the calculation of investment income in section 6.4.5 is determined each year as follows:

netbeforeM&E : (l+^grcSS i_t )365

5 LOAD AND MODULE CALCULATION DEFINITION

5.1 GENERAL DESCRIPTION

For any given schedule of compensation, the illustration system will calculate policy loads using a modular structure. Each module will have a specific method of reflecting the compensation choices made by the user in the product load structure. These choices will have an effect on the policy performance. Modules will allow the user to define a desired compensation pattern. Then, combinations of these modules may be defined by the sum of scalar multiples of these modules (e.g. 2xA + .5xB + .3*C).

Thus, for a given case or policy being issued the commission schedule specified in each module combined with how the modules are allocated would define the product load structure, this load structure would then be "fixed" at issue. Examples of elements that need to be determined by the module structure include premium loads, periodic policy loads, COI loading factors, asset based charges at the product and at the separate account level, percent of premium compensation, percent of account value trail compensation, etc. The administration system would need to store final load values plus enough plan design information to feed back to an inforce illustration system.

Once issued, these loads and charges are essentially "locked-in", not to be changed except due to normal inforce repricing of nonguaranteed elements. It is likely that other policies (future cases) may be issued using the same module configuration.

5.2 GLOBAL FACTORS

5.2.1 State Premium Taxes

The state premium tax is set in the carrier utility of the illustration system. State Premium tax will be specified on a state specific basis. The State Premium tax is a percent of premium charge. The user will have an option to recoup this cost on a matched basis as a percent of premium load or apply this to the unmatched charge calculation, which would recoup the State Premium tax through non-percent of premium loads developed by using module 2. See restrictions on amortization of State Premium Tax below.

State =Two letter State Code

PremTax = State Specific defined in utility

PremtaxYr =Year to end Premium Tax Amortization

(PremtaxYr must be less than or equal to 11) PremTaxBandlFlagt = 1 if apply premium tax matched

= 0 if apply premium tax unmatched

(Equals 1 ift>=PremtaxYr ) PremTaxBand2Flag_t = 1 if apply premium tax matched

= 0 if apply premium tax unmatched

(set to 1 for durations 2+)

The following restrictions apply to recouping the premium tax through amortization of non- percent of premium loads.

1. Premium tax amortization allowed only premiums paid up to target during the first 10 policy durations. The User has the option to specify a shorter applicable period if desired.

2. Premium tax amortization allowed on Eligible Excess Premium in Year 1 Only.

5.2.2 Federal DAC Taxes

Similar, to State Premium Tax, the DAC tax is recovered as a percent of premium charge. The percent cost will be specified in the carrier set up utility.

The user will have an option to apply this charge on a matched basis as a percent of premium charge or apply this to the unmatched charge calculation (ie amortize the DAC tax charge), which would recoup the DAC tax charge through non-precent of premium loads developed using module 2. See restrictions on amortization of DAC below.

DACTax = Percent of Premium amount defined in utility

DACtaxYr =Year to end DAC Tax Amortization (DACtaxYr must be less than or equal to 11) DacTaxBandlFlag_t = 1 if apply DAC tax matched

= 0 if apply DAC tax unmatched

(Equals 1 if t>=DACtaxYr ) DACTaxBand2Flag_t = 1 if apply DAC tax matched on Eligible Excess

= 0 if apply DAC tax unmatched on Eligible Excess

(set to 1 for durations 2+)

The following restrictions apply to recouping the DAC tax charge through amortization of non- percent of premium loads.

1. DAC tax amortization allowed only premiums paid up to target during the first 10 policy durations. The User has the option to specify a shorter applicable period if desired.

2. DAC tax amortization allowed on Eligible Excess Premium in Year 1 Only.

5.3 MODULE SETUP CALCULATIONS

The following section describes load factor calculations from the specified user module selection. Each module will have user specified inputs and table data from the Carrier setup utility. The following sections will describe in detail how to calculate the contribution to each load component from each module. Then the calculations will be given to combine each module specific contribution into loads and expenses to be charged for the specified configuration.

Each module will allow the user to specify a level or pattern of compensation to be paid each year. The user will also be able to adjust the specified pattern by applying a scalar, i.e. 100% of module gets that pattern specified, 50% of the module produces a scale at half of the compensation specified. Modules may also have additional user selected options available specific to that module.

Each module will define contributions to the following factors:

• COI Charge - Mult and Add components for COI Calculation

• M&E charges

• Percent of Premium Sales Load for Each Premium Target Band For definitional purposes

Band 1 Premium - Up to Target Premium = User Specified percentage of 7-Pay

Band 2 Premum - Excess% = User Specified Percent or Amount of Maxmimum Available Excess

Band 3 Premium - ExcessExcess% = Amount of Excess Above Any Amount used in Band 2

• Periodic Expense Charges, per $1000 and per policy, by duration

• Surrender Charges or Givebacks

• Producer Commissions (Premium Based, Asset Based and Per $1000 Based) 1 Module 1 - Matched Percent of Premium Compensation to Percent of Premium Load

This Module will define the percent of premium load factors for specified percent of premium based commissions. The user will have the option to enhance the early cash surrender values through the use of a giveback option that will refund a part of the loads upon full surrender during the early durations.

Module 1 will have the following user defined inputs:

CommTarget%Ml_t = Annual percent of premium commission to be paid up to target premium for duration t

CommExcess%Ml, = Annual percent of premium commission to be paid in excess of target for duration t

CommExcessExcess%M 1₁ = Annual percent of premium commission to be paid in excess of eligible excess as defined in 6.3.3

Giveback Option = (Y/N)

Ml% = Percentage of Module 1 to be applied. Default should be 100%.

Module 1 will have the following Carrier Utility defined inputs:

The Carrier Setup Utility will specify the following factors and tables to be used in the module calculations.

COIMlMult_{x t} -» Carrier Utility defined table of COI Multiplicative factors for each age, sex, underwriting class and duration.

COIMlAdd_{x t} -> Carrier Utility defined table of COI Additive factors for each age, sex, underwriting class and duration.

Add min — > Carrier Utility defined minimum additive COI amount, a global factor.

Mult min — Carrier Utility defined minimum multiplicative COI amount, a global factor.

GivebackFactor — Carrier Utility defined factor to adjust give back ratio.

COIGivebackFactor-* Carrier Utility defined factor to adjust give back ratio for COI.

PricingFactor — > Carrier Utility factor to add loads to percent of premium charges on top of commissions.

MlMinTargetAdj — > Carrier Utility factor to specify minimum target adjustment for Module

1. MlPNRatel → Carrier Utility factor to specify PV Rate 1 MlPVrate2- Carrier Utility factor to specify PV Rate 2

MlΝPVConst→- Carrier Utility factor to set minimum levels of charges M 1 megivetable _t — > Carrier Utility Table to Define M&E Add-on. Used only for giveback option in this module.

Mlgivetable - Carrier Utility Table of Give back schedule MlExpKtable_t- Carrier Utility Table of Expense Per $1000 of Initial Face factors, used only for giveback option in this module.

MlAgeFactor_x — > Carrier Utility defined attained age table of age adjustments for each underwriting class.

Then using the above factors the following Components are calculated:

^CommTargetyoMl, ^

GivebackAdj If Giveback Option = Y

1 - GivebackFactor If Giveback Option = Ν

M1ΝPV1

MIT arg etAdj = max x BandlUserSpecifiedAmount%,MinMlT arg etAdj M1ΝPN2

_ ,-_{τ τ} -, „, CommTarget%ML _ _.„ .

MlUptoT arg et% _t = -. - ^l—r x Ml % rrrin(l,l - Pr icingF actor)

,,_{^ Λ}, CommExcess%Ml_t , „„ . _ „,,__ _{i A} ,._Λ

MlExcessT arg et%_t = -, ^l—τ x Ml% x (2 - MIT arg etAdj), min(l,l - PricingFactor)

, „„ __ _n, CommExcessExcess%ML ,_ _ „_ _{i A J}._{\ r A} ,

MlExcessExcess%_t = -, c-¹- x (2 - MIT arg etAdj ) Note removed min l,l - Pr icingFactor) the Ml % multiplier from this formula.

MlElag = 1 If ∑CommTarget%Ml_t x Ml% ^ 0

1

= 0 Otherwise

_{A /π xτm A} r CommTarget%Ml_t x Ml% , „ _TT„,_{Λ A} . ι

MlΝPN2 = Max > ; -r—. ,MlΝPNConstant

¹ t (l + MlPNRate2)^{t_l J} M1NPN1

MIT arg etAdj = max x BandlUserSpecifiedAmount%, MinMIT arg etAdj

.M1ΝPN2 {see Section 6.3.1.3 for definition ofBandlUserSpecifiedAmount%}

Rounding Rule: Round Target Nearest to 4 decimal places

Mladd, = [(COIMlAdd, - Addmin) + COIGivebackFactor x GivebackAdjJx MlAgefactoi x MlTargetAdj + Addmin

Mlmult, = ((COIMlMult_x , -Mult min) + COIGivebackFactor x GivebackAdj) x Ml AgeFactor. MlFlagx MIT arg etAdj + Mult ri

Mime, = (Mlmegivetable, x GivebackAdj) Mlsurr, = (Mlgivetable, x GivebackAdj)

MlExpK, = (MlExpKtable, x GivebackAdj)

5.3.2 Module 2 — Unmatched Compensation to Load Module

This Module will define the load factors to recoup percent of premium based commissions that are to be applied primarily to cost of insurance, M&E, Monthly periodic charges. The user will have the option to improve long term performance by adding in a surrender charge to provide for cost recovery due upon early surrender.

Module 2 will have the following user defined inputs:

CommTarget%M2 _t = Annual Commission to be paid up to target premium for duration t CommExcess%M2 _t = Annual Commission to be paid in excess of target for duration t Surrender Charge Option = (Y/Ν) M2% = Percentage of Module 2 to be applied. Default should be 100%

Module 2 will have the following Carrier Utility defined inputs:

M2PVRate l → - First Interest Rate to Take PV of Commission Stream

M2PVRate2 → Second Interest Rate to Take PV of Commission Stream M2SurrFactor→ Factor to be applied when surrender charge option chosen

M2ΝoSurrFactor — > Factor to be applied when surrender charge option is NOT chosen

M2 AgeFactor_x - Carrier Utility defined attained age table of age adjustments for each underwriting class. M2ExpKFactor_x - Carrier Utility defined attained age table of Expense per $1000 of Face for each issue age and each underwriting class.

M2ExcessFactor_x — > Carrier Utility defined factor for Excess M&E component. Same component for all underwriting classes.

M2Band2Factor→ Carrier Utility defined scalar factor for Band 2 Adjustment M2SurrTable _t- Carrier Utility defined table of surrender charges percentages

(Note this may be and age and duration table due to nonforfeiture compliance.)

M2DurFactor _t→ Durational Adjustment Factor For COI Loadings for Module 2 M2ExpKDur _t→ Durational Adjustment Factor For Per 1000 Face loadings for Module 2.

COBM2Mult_{x t} — Carrier Utility defined table of COI Multiplicative factors for each age, underwriting class and duration.

COIM2Add_Xιt → Carrier Utility defined table of COI Additive factors for each age, underwriting class and duration.

M2metable _t -» Carrier Utility Table to Define M&E Add-on for Module 2 M2SurrMETable _t→ Carrier Utility defined table of surrender charges M&E add-on NPVlAdjFactor→ Carrier Utility Adjustment Factor for NPV1 NPV 1 Adj FactorExcess - Carrier Utility Adjustment Factor for NPV1 Excess NPV2AdjFactor→ Carrier Utility Adjustment Factor for NPV2 NPV2 Adj FactorExcess - Carrier Utility Adjustment Factor for NPV2 Excess TaxAdj — • Carrier Utility Adjustment for Amortized Premium and DAC tax Then using the above factors the following Components are calculated:

M2TaxTarget_t = max( PremTax*(l-PremTaxBandlFlag_t)+DACTax*(l-DACTaxBandlFlag _t)-TaxAdj,0)

M2TaxExcess_t = max ( PremTax*(l-PremTaxBand2Flag_t)+DACTax*(l-DACTaxBand2Flag_t)- TaxAdj,0) If Surrender Option = N, then; _mx ™ __{. ÷} - CommT arg et%M2_t x M2% + M2TaxT arg et. . ,„ _τ „ „ NPVltarget = V ^—. * 2_L _X M2NoSurrfactor tt (l + M2PVRatel)^t

._,„ ^CommExcess%M2_txM2% + M2TaxExcess_{t A},„ _τ _ , NPVlexcess= > ; ^£ - ^L x M2NoSurrfactor tt (l + M2PVRatel)

_TDΛ/ . _* ACommTarget%M2_txM2% + M2TaxTarget_t ..... _ , .

NPN2target = > ~ - rr, ²— ^L x M2ΝoSurrfactor tt (l + M2PVRate2)

._.„ ^CommExcess%M2xM2% + M2TaxExcess_t ..-__ _ . ₄

NPN2excess= > ; rr, ^LxM2ΝoSurrfactor tt (l + M2PNRate2)^t_1

If Surrender Option = Y, then; _{τn n* *} - CommT arget%M2_t ^χM2% + M2TaxT arg et, ..._ , .

ΝPNltarget = > — -. r.- ^≥— - x M2Surrfactor tt (l + M2PNRatel)^t

_*™» ^CommExcess%M2,xM2% + M2TaxExcess, _A„„ _„,. „

ΝPNlexcess = > -. ^{■ L} x M2Surrfactor tt (l + M2PVRatel)^t

_xττ«^. ^ CommT arg et%M2, x M2% + M2TaxT arg et, _{Λ/r o} _ _t ΝPN2t arg et = *—. - r , — - x M2Surrfactor tt (l + M2PVRate2) _x™r " CommExcess%M2_t x M2% + M2TaxExcess, .,„„ «. ,

ΝPN2excess = Y -. r, x M2Surrfactor tt (l + M2PNRate2)^t_1 then, use the factors calculated above to generate the component loads;

The following adjustment is made to the above factors to account for the effect of setting the User Specified Target Premium Percentage below 100%. See Section 6.3.1 for definition of BandlUser Specified Percent.

PNltarget=PNltarget

(1 - BandlUserSpecifiedPercent PNlt arg et = ΝPNlt arg et x ΝPNIAdjFactor

( l1\ - B Rannd1l1U TTseeorι-SQpr\ef-cr^,iiffiϊe*-drlPPef-rrrc>eι=»nntt

PN2t arg et = ΝPN2t arg et x

V ΝPN2AdjFactor If PNltarget=0, set PN2target=l (1 - BandlUserSpecifiedPercent

PNlexcess = ΝPNlexcess x 1 + ΝPNIAdjFactorExcess

(1 - BandlUserSpecifiedPercent

PN2excess = ΝPN2excessχ 1 + ΝPN2AdjFactorExcess

IfPNlexcess=0, set PN2excess=l

If PNltarget = 0 and PNlexcess = 0 then M2Dur =1 else M2Dur=M2DurFactor_t

M2mult, = [ f(C0IM2Mult_ , - Mult min)x ( (^{PVlt ar}S^et) ₊ (PVlexcessf ^x 2AgeFactor_ 1+ Mult min lx M2Dur ' ^{L l x,t} ' PV2t arget PV2excess ' ^{6 κ J J}

M2add = [ [(cOIM2Add_{x l} - Add in)x ( (^pvltarg^et) ₊ (PVlexcessf )_{x M2AgeFactor} ]+ Addmin ]x M2Dur ' ^{l ι} "^•' ' PV2target PV2excess ' ^{6 * J J}

M2ExcessAdj = M2ExcessFactor_x x Band2UserSpecified% + (l - Band2UserSpecified%)x M2Band2Factor

M2me, = (M2metable, )x [ (^{PVlt ar}g^et) _x 2AgeFactor. + (^PVlexcess) _xM2ExcessAdj ]+M2SurrMETable_t

PV2t arg et PV2excess

If Surrender Option = Y, then

[ P l arget² ₊ PNlexcess² _{χ M2Eχ} j _Λ^ ^L PN2target PN2Excess

M2Surr = x M2SurrTable_t x ^PV1Targ^et _{x M}2%

BandlUserSpecifiedPercentage PN2Target

else, M2Surr, = 0

5.3.3 Module 3 - Trail Compensation Module

This Module allows the user to specify the trail compensation to be paid each duration. Recovery for this option is matched to the M&E charge.

Module 3 will have the following user defined inputs:

CommTrail%M3Bandl _t = Annual Commission to be paid on asset value at the end of the policy year.

CommTrail%M3Band2 _t = Annual Commission to be paid on asset value at the end of the policy year.

BandAmount =Amount where Band Break Occurs, this could be on a policy or case basis. Case Multiplier =For mimicking multiple lives for illustration purposes on a case basis.

M3% = Percentage of Module 3 to be applied. Default should be

100%

Module 3 will have the following Carrier Utility defined inputs:

TrailfactorM3% _t — > Carrier Utility to Specify M&E Load to trail component

Then using the above factors the following Components are calculated:

At each policy processing period, the value of the assets times the Case Multiplier needs to be checked to see if the band break has been achieved. Assets above the band break are charged the band 2 M&E rate as opposed to the Band 1 M&E rate.

Note for a compliance and guaranteed ledger perspective the banded M&E break is not guaranteed.

CommTrail%M3bandl,

M3mebandl ^■•t,.m _m = —, r - x M3% (l -TrailfactorM3%_t)

, ,„ , ,_ CommTraιl%M3band2, „_n/

M3meband2, _m = —. τ^χ M3%

''^m (l -TrailfactorM3%,)

No other Component Factors are Calculated in this Module

Trail%M3Bandl, = CommTrail%M3Bandl, x M3%

Trail%M3Band2, = CommTrail%M3Band2, x M3%

5.3.4 Module 4 - Year 1 Service Fee Based on Per 1000 of Death Benefit Issued

This module allows the user to specify a per 1000 commission to be paid in a policy year based on the amount of insurance issued in the coverage segment. The purpose of this module is to allow the producer a means to generate a service commission for post coverage increases. Two options will be available, pay service fee to the producer in all years recovered fully each year through a per $1000 charge or pay service fee in first year of a coverage segment with cost recovered with a per $1000 charge over the next 10 durations.

Module 4 will have the following user defined inputs:

ServiceCommM4 _t = Per $ 1000 based commission to be paid on the amount of insurance issued in a coverage segment.

First Year Only Option = (Y/N)

M4% = Percentage of Module 4 to be applied. Default should be 100%

81 Module 4 will have the following Carrier Utility defined inputs:

PerKFactorl -* Carrier Utility to Specify Load to Service Fee First Year Only Option

PerKFactor2 - Carrier Utility to Specify Load to Service Fee Annual Option

Then using the above factors the following Components are calculated:

If First Year Only Option = Y

„ _r .„ -rr ServiceCornmM4_{1 * *}.«, _* „

Then, M4ExpK, = ^! r x M4% for Coverage Segment

(PolicyMode x 10 x PerKFactorl)

Duration 1-10

(Note: Policy Mode is defined in section 5.4)

= 0 for Coverage Segment Durations 11+

ServiceComm _t =ServiceCommM41 If First Year Only Option = N

_™ , , ._^- „ ServiceCommM4_{t ÷ I ΛΛ}, „ „ „

Then M4ExpK, = - ^■ r x M4% for all Coverage Segment

' (PolicyMode x PerKFactor2)

Durations.

5.4 CONSOLIDATING MODULE FACTORS INTO PRODUCT LOAD FACTORS

Some Global Factors to be defined. These will apply across all modules.

TaxLoad% = PremTax + DACTax TaxLoadT arg et%, = VτemTaxx YxemTaxT∞getFlag_t + DACTaxx DACTaxTargetFlag,

TaxLoadBand2%, = PremTax x Pr emTaxBand2Flag, + DACTax x DACTaxBand2Flag,

FlatLoad% = Carrier Utility Defined Global Premium Load ^bGlobalME _t = Carrier Utility Defined Global M&E Load for band b Policy Mode = Monthiversary mode for processing calcs,

(e.g. monthly=12, quarterly=4, annual =1)

Percent of Premium Sales Loads

UptoTarget%_t = MlUptoT arg et%_t + TaxLoadT arg et%, +FlatLoad%

Band2Target%, = MlExcessTarget%, + TaxLoadBand2%, + FlatLoad%

Excess%, = MlExcessExcess%, + TaxLoad% + FlatLoad%

Rounding Rule Round these Nearest to 4 decimal places or .00%

Cost of Insurance Factors Mult, = (Mlmult, + M2rm.lt, ) - Mult min Add, = (Mladd, + M2add, ) - Add min Rounding Rule Round these Nearest to 8 decimal places

Periodic Per Thousand of Coverage Factor

ExpperK, = (MlExpK, + M2ExpK, + M4ExpK,) Rounding Rule: Round Exp per K to 6 decimal places

M&E Factors

MEBandl, = Mlme, + M2me, + M3mebandl, + ^bGlobalME_t

MEBand2, = Mime, + M2me, + M3meband2,+ ^bGlobalME_t Rounding Rule: Round M&Es Nearest to 6 decimal places

Surrender Charge and Giveback Factors

SurrChrg, = M2Surr,

Giveback, = MlSurr, Rounding Rule: Round Surr and Giveback to the Nearest 4 decimal places

5.5 CALCULATING COMBINED CHARGES FOR ALL COVERAGE SEGMENTS

5.5.1 Percent of Premium Charges

Percent of premium charges will be applied to target premiums by applying the percent of premium charge applicable to the most recent coverage segment, i.e. coverage segment with the lowest duration, first. Once the target premium for that coverage segment has been exceeded the percent of premium applicable to the next lowest duration coverage segment is used until that target premium is exceeded, and so forth. The load for Band 2 Premium - excess% and Band 3 Premium - excessexcess% will be the blended weighted average of the loads for the coverage segments. See Example; assume only Band 2 excess is used.

Duration UptoTarεet% ExcessTarget% Coverage Adj. ExcessTarget%

1 10% 5% $1,000,000 - Segment 1 5%

2-5 5% 2% add $1,000,000 - Segment 2 3.5%

6-10 2% 2% add $ 1 ,000,000 - Segment 3 3%

Target Premium is $10 per $1000, so each segmi ϊnt has a target premium of $10,000.

Premium Paid in Year 10 Sales Load Up To Target 1/Target 2/Target 3/ Excess

$10,000 $1,000 Yr 1 10% Seg. 3

$20,000 . $1,500 Yr 1 10% Seg. 3 / Yr 5 5% Seg. 2

$30,000 $1,700 Yr 1 10% Seg. 3 / Yr 5 5% Seg. 2 / Yr 10 2% Seg.l

$40,000 $2,000 Yr 1 10% Seg. 3 / Yr 5 5% Seg. 2 / Yr 10 2% Seg.l/ Adj Excess of 3% in Yr 10. Note Adj Excess would be 2% in all other years.

5.5.2 Periodic Expense Charges

The expense charge will be based on a per $1000 of face component and a flat fixed rate component. The value of these components may vary by policy year. The per $1000 components will be calculated as a result of user module selections, the flat policy fee will be set in the carrier utility.

PolFee _t -> Global Policy Fee per Duration set in Carrier Utility _x DB_y — > Defined as Death Benefit Coverage Segment r, Added at Age y for a policy originally issued at age x.

The formula to calculate the monthly expense charge component is:

#ofSeg

∑ _xDB_yxEx_PPerK„_(yr__x) ExpenseCharge, _m = — + _^ „ ' set for each modal period

The per $1000 charge is calculated for each coverage segment duration as was used in the first coverage segment.

A Coverage segment duration is defined as the current policy duration less the difference between the issue age of the coverage segment and the original issue age, i.e. t-(y_r-x). This implies that coverage segment durations will change on the original policy anniversary, regardless of when the coverage was actually implemented during the policy year.

5.5.3 M&E

• The M&E charge will be equal to the weighted average of the coverage segments M&E charge for the appropriate duration.

Note the formulas below have been clarified to signify initial coverage segment face amount.

Thus,

MEBandl, t =

MEBand2, =

5.5.4 COI Rates

For each coverage segment the COI charge applicable the most recent coverage segment will be applied to the Net Amount at Risk first or on a Most Recent Coverage Charged First Basis.

At each monthiversary a COI _t will be calculated based on the current net amount at risk used in the formula.

In general COI is calculated from the formula

COI , = Mult _t x ^Cmrq[_X+t] + Add _t + FlatExtra ,

Rounding Rule: Round COI Nearest to 8 decimal places

For Multiple Coverage Segments a weighted average COI is calculated using the appropriate COI for each coverage segment duration.

For Example, Assume the same coverage used in the Percent of Premium Section 5.5.1 example: In general the duration for policy coverage segments is calculated as t - (y _r — x)

Segment 1 COI = Multio x ^Cuιrq[_X]+(io-i) + Addio

Segment 2 COI = Mult₅ x ^Cuιrq_[x+5]+(5-i + Add₅

Segment 3 COI = Mult! x ^Cuπq[χ+ιo]+o-i) + Addi

Then take the weighted average of the Segment COIs by allocating the weighting to the first $1,000,000 of NAR apply the Segment 3 COI, the next $1,000,000 apply Segment 2 COI, and apply Segment 1 COI to any remaining NAR.

For Example: NAR=2,500,000 NAR=1,500,000

Weight 3 1000000/2500000=.4 1000000/1500000=.67

Weight 2 1000000/2500000=.4 500000/1500000=.33

Weight 1 500000/2500000=.2 0/1500000=0

Then COI = Seg 1 COI x Weight 1 + Seg 2 COI x Weight 2 + Seg 3 COI x Weight 3

5.5.4.1 Maximum charges

• The Annual COI charges never exceed the guaranteed COI charges for any given year.

5.5.5 Surrender Charges and Givebacks

Surrender Charges will be calculated based on the Target Premium for the Segment. The cumulative surrender charge will equal the sum of the surrender charge for each segment. Givebacks will be calculated based on the minimum of the target premium or the actual premium received during the first duration of a coverage segment. The cumulative giveback will equal the sum of the givebacks for each segment.

Thus,

#ofSeg

SurrenderCh arg e , = ∑ (^r T arg et Pr em x SurrChrg _t__(y __x) ) r=l #ofSeg.

GivebackAmount , = T (min(^r T arg et Pr em, Pr emiumPaid, ) x Giveback,__(y __x) ) r=l

The Cash Surrender Value would then be the account value adjusted by the surrender charge and the giveback amount. See Section 6.5

6 PRODUCT MECHANICS

6.1 DEFINITIONS

Policy Mode = The frequency of the periodic policy processing. This will be defined in the Carrier Set up utility, the default frequency will be Monthly.

6.2 DEATH BENEFITS

6.2.1 Issue Coverage

At issue the User will specify an amount or the illustration system may solve for an amount, that will be the Specified Amount of Coverage at Issue. This will be the known as:

D . .B 0_y,'0 - Death Benefit for coverage 1, at issue age x, coverage issue age y,, duration 0. Duration 0 will signify the coverage before any effect of riders or options. By definition, coverage issue age y, will equal the original issue age.

6.2.2 Death Benefits Increases expected at Issue

At issue a schedule that may either be fixed or formula driven may be pre-approved for future modifications to the death benefit schedule at issue. These modifications could include, fixed increases, percentage increases, increases associated with the premiums actually paid, salary schedule, or other formula. The administration system will need to flag policies where increases may be formula driven.

From one period to the next the death benefit for the initial coverage would be modified by the expected changes. Increases not expected at issue will be treated as new coverage segment. See 6.2.3.

Thus, _x DB } l _x,'m^m _ = l T DBQ ' _x.^,t^t-^_11 + Change in DB due to expected schedule. All future increases due to these expected increases will always be applied to the first coverage segment, even if other coverage segments are added. Other coverage segments will not be allowed to add additional expected increases.

6.2.3 Death Benefits Increases NOT expected at Issue

An increase in death benefit that was not expected at issue, will be considered a new coverage segment. The new coverage segment will have a specified amount equal to the increase in coverage and can not have any additional expected increases associated with it.

For example, adding an additional coverage would generate, DB_y° - Death Benefit for coverage 2, at issue age x, coverage issue age y₂, duration 0. Duration 0 will signify the coverage before any effect of riders or options. Thus y₂, would be the age when the increased coverage was issued.

In, theory and for illustration purposes the number of these increases would be limited by the number of durations available, for the administration systems an unlimited number. In practice, relatively few are expected.

6.2.4 Death Benefit Decreases whether expected or Not

Any reduction in death benefit amount would first be used to reduce the amount of Death Benefit in most recent (coverage segment with the highest r) first. Once a coverage segment is reduced to 0, the next most recent segment is reduced. _x DB_x ^m=_xDB^l _x'^t_I -Change in DB due to decrease, once this equal 0 go tq segment r-1.

6.2.5 Total Coverage at the monthiversary processing date

On any given processing date the Total Death Benefit will equal the sum of the coverage segments for the current duration. Thus, flofSeg

CumDB, _m = ∑ _x DB_y ^m , where t is the current annual duration, and m is the modal duration r=l

6.2.6 Total Death Benefit with Corridor

At any time the total death benefit to be paid is equal to the greater of

IfDB Option A then

TDB,_,m = maximumiCumDB, _m,(AV,_,m.₁ + NP,_ι χ CORR_x+,_₁ ]

IfDB Option B then

TDB,_,ra = maximum[CumDB,_ιm + AV^_., + NP,_ιm , (AN,^ + NP _n)x CORR_x+t_₁ ]

Rounding Rule: Corr is rounded up to 4 decimal places, ie 2.33351 becomes 2.3336 Rounding Rule: TDB is rounded nearest to 2 decimal places

6.3 GROSS PREMIUMS

Gross Premiums will be specified by the user input or set as a result of the illustration solves. For illustration purposes premiums specified will be the total premium expected to be received for the year. Premiums will then be divided by the premium mode selected and assumed to be paid at the beginning of each premium modal period.

PremiumMode = 12, if Annual =6, if semiannual =3, if Quarterly =1, if Monthly

„, _„ Speficified Premium, x PremiumMode .„ _^ „ . , , , Therefore, GP, t, _m = — ₁₂ ^■ if m < PremiumMode

GP, _m = 0 if m > PremiumMode

Rounding Rule: Round to Nearest 2 decimals

[Note these are not quite right The idea is to pay annual premium / premium frequency at the proper period during the year. ]

For the administration system,

GP, = The gross premium actually received on a given date.

Gross Premiums will be used in the calculation of Net Premiums and Guideline Premium and 7-Pay Compliance testing. -

6.3.1 Band 1 Target Premium

The Band Target Premium Levels will be defined at policy issue. In each policy year, subject to prior year sales load carry over rules described in section 6.3.3, premiums received will be allocated to Band 1, until the cumulative amount received in the year equals the Band 1 Target Premium. Subsequent premiums received during the year would be allocated to Band 2 until additional premiums received equals the Band 2 Target premium and any subsequent premiums would be allocated to Band 3. Premiums allocated to each band would be charged the Sales Load and generate a commission based on the module inputs for each Band.

6.3.1.1 User Entry for Target Premium

The amount of the Band 1 and Band 2 Targets will be based on user inputs. Band 1 Target Premium cannot exceed the 7-Pay non-MEC Premium for the Death Benefit Coverage to be issued. The user can either specify the actual amount of the Band 1 Target Premium or enter the percentage of the 7- Pay non-MEC premium to be used. Similarly, Band 2 Target Premium can not exceed the Maximum Single Premium payable in Year 1 determined based on the definition of life insurance test chosen minus the Band 1 Target Premium. Band 2 Target Premium is discussed in Section 6.3.2

6.3.1.2 Band 1 - Target Defined

Band 1 Target Premium is referred to in the specifications as 'TargetPrem

6.3.1.3 Band 1 User Specified Amount

BandlUserSpecificed% and 'TargetPrem are based on user input to the question "Specify the amount of Band 1 Target?". The User will either enter a number less than or equal to 100 to signify a percentage of the Band 1

If BandlUserSpecificedAmount% is <= 100 (Note this is the user enter variable in the illusatration system. )

then

BandlUserSpecifiedAmount% is assumed to be a percentage ¹ T arg et Pr em = imnLmputAmount PayFactorx¹ DB j

else BandlUserSpecifiedAmount% =

(note Band 1 Target Premium can never exceed the 7-pay non-MEC premium.)

*Rounding Rule - 'TargetPrem to the lower whole dollar, ie 0 decimals.*

6.3.2 Band 2 - Target Premium

• The Band 2 Target Premium will be defined by the user and can be set anywhere between the Band 1 Target and the Maximum Premium that can be paid at issue based on the initial face amount.

6.3.2.1 Maximum Premium at Issue

MaximumPremium = If Guideline Premium Test then maximum premium is the GSP calculated in Section 8.1.1.3 _XDB° °

If Cash Value Accumulation Test then = —

Corr_x

Rounding Rule: Round to the to the lower dollar, ie 0 decimals.

6.3.2.2 Definition of Band 2 Target Premium

The User will be allowed to specify the premium eligible for the Band 2 . The user should be able to define the Band 2 Target Premium Level by either specifying the amount of the band 2 target layer that is in excess of the band 1 target or specifying the a percentage of the excess between the Band 1 Target and the maximum single premium, ie between 0% and 100%, that is the be eligible for Band 2 target. Calculate the Band 2 from a percentage as follows:

Band2UserInput — » Amount input by user to define Band 2 Target. Can either be a number equal to 1 or less then assume percentage else if greater than 1 assume dollar amount.

If Band2UserInput = < 100% (ie the user input a percentage between 0% and 100%) then

Band2UserSpecified%=Band2UserInput

Band2Target=(MaximumPremium - 'TargetPremium) x Band2UserSpecfϊcied% else

Band2Target= Min (User Input $Amount or, MaximumPremium - Target Premium)

Band2UserSpecified% = B nd^arg *

MaximumPremium- TargetPrem

Rounding Rule: Round to the lower dollar, ie 0 decimals

Example

Band 1 Target is $100,000, Maximum Single Premium is $1,000,000

Band 2 Target can be specified as $200,000, so the first $100,000 gets the Band 1 Target Loads and Commissions, the next $200,000 gets the Band 2 target loads and commissions and anything in excess of $300,000 gets the excess loads and commissions. The user could get here by specifying:

Band 2 Target Amount = $200,000, or

Band 2 Percentage = 22.22% (this is $200,000 divided by $900,000) , or

Band 2 Absolute Amount = $300,000.

6.3.2.3 Band 1 and Band 2 Target Premium For Additional Coverage Segments

The Band 1 and Band 2 target premium for each additional coverage segment will be based on the per $1000 target premium factor for the original issue coverage segment. ¹ TargetPrem

Band 1 Factor is , ^l TargetPremFactor =

'DB 0,0

Band Target

Band 2 Factor is, Band2TargetFactor ,' DB°

Then to get the Target Premium at the Time of the Additional Coverage Segment is added, ^γ TargetPremFactor^ TargetPremx I DB⁰⁰

0,0

^' Band2Target = BandlT arg etFactorx DB

These are the target premium amounts to be used for the additional coverage segment.

Sales Load

When a premium is received the Salesload% to be applied is calculated based on the following factors that were defined in Section 5.4 and 5.5.1. Note that there is a FINE year look back rule for unpaid band 1 target. This implies that premiums paid will be applied to fill unpaid target premiums over the last five durations filling the oldest remaining target premium first. (This means current duration plus the previous four duration.)

To calculate the sales load in a given year the following steps and necessary:

Define the following variables:

TP = Equals the 'TargetPremium

GP_t = Equals the Current Gross Premium being received in year t

UTC = Defined as the Unpaid Target Carry forward, is the cumulative amount of band 1 target that is unpaid from the previous years. This amount can not be greater than 4 target premiums.

TargetPOff_t = Defined as the Band 1 Target Paid by premiums received in year t and the sum o of the TPaid(-t) for year t.

Tpaid(-4) ,= Define as premiums received in year t applied to the band 1 target from 4 years ago.

Tpaid(-3) _t= Define as premiums received in year t applied to the band 1 target from 3 years ago.

Tpaid(-2) _t= Define as premiums received in year t applied to the band 1 target from 2 years ago.

Tpaid(-l) _t= Define as premiums received in year t applied to the band 1 target from 1 year ago. Tpaid(O) _t= Define as premiums received in year t applied to the band 1 target for the current

- year. t - Defined as the unpaid target in year t from Band 1 Target 4 years ago.

YrUnpu(.- ) t= Defined as the unpaid target in year t from Band 1 Target 3 years ago.

- rUnpO^- ^ t = Defined as the unpaid target in year t from Band 1 Target 2 years ago.

I rUnpu(- 1 ) t = Defined as the unpaid target in year t from Band 1 Target 1 year ago.

Stepl: Calculate for year t, the Unpaid Target Carry forward (UTC)

UTC, = 0

UTC, = min[UTC,_, + TP -TargetPOff,_„4 TP]

(TargetPOff from the previous year is calculated in step 4)

TargetPOff₀ = 0

Step 2 : Calculate for year t, the Amount of Unpaid target that gets applied to year of the previous years Band 1 Target.

YrUnpd(-4), = min[max(UTC, -3x TP,θ),TP]

YrUnpd(-3), = min[max(UTC, - YrUnPd(-4), - 2 x TP,θ),TP]

YrUnpd(-2), = min[max(UTC, - YrUnPd(-4), - YrUnP(-3), -TP,θ),TP)

YrUnpd(-l), = min[max(UTC, - YrUnPd(-4), - YrUnP(-3), - YrUnP(-2)„θ),TP]

Step 3: Calculate for year t, the amount of target premium paid off by premiums received in that year.

Tpaid(-4), = min[YrUnpd(-4)„GP,]

Tpaid(-3), = min[YrUnpd(-3)„GP, -Tpaid(-4),]

Tpaid(-2), = min[YrUnpd(-2)„GP, -Tpaid(-4), -Tpaid(-3),]

Tpaid(-l), = min[YrUnpd(-l)„GP, -Tpaid(-4), -Tpaid(-3), -Tpaid(-2),]

Tpaid(O), = min[TP,GP, -Tpaid(-4), -Tpaid(-3), -Tpaid(-2), -Tpaid(-l),] Step 4: Calculate the amount of any premium received that is to be applied to the Band 2 target and any premium received in excess of Band 2.

B2Paid, = min[B2TP,GP, -Tpaid(-4), -Tpaid(-3), - Tpaid(-2), - Tpaid(-l), -Tpaid(O),]

Excess, = max[θ,GP, - Tpaid(-4), -Tpaid(-3), - Tpaid(-2), -Tpaid(-l), -Tpaid(O), - B2Paid,] TargetPOff, = [Tpaid(-4), +Tpaid(-3), +Tpaid(-2), +Tpaid(-1), +Tpaid(0),]

Step 5: Calculate the Sales Load Percentage to apply to the premiums received in year t

4 T [UptoTarget%,_i x Tpaid(-i), ] + [B2Paid, x B2T arget%, ] + [Excess%, x Excess, ]

SalesLoad%_{t m} =^-

GP,

Eliminate This Rounding.

Rounding Rule Round these Nearest to 4 decimal places or .00%

Removed Rounding above as of ₅/04/00.

This would need to be modified to account for Multiple Coverage Segments by summing the appropriate coverage segments as describe in section 5.5.1.

These factors Tpaid(-t), B2Paid, Excess are also used to calculate the percent of premium commissions in Section 7.8.3.1

6.3.3 Net Premiums

6.3.3.1 Net premium are calculated as follows:

NP, _ra = GP, _m x (1 - Salesload%, _m) - PaymentFee, _n

Rounding Rule: Round to Nearest 2 decimals

PaymentFee would be defined as a flat charge applied to any premium payment, this is defined in the Carrier set up utility.

Net Premiums will be used in the Account Value Calculation Formulas

6.4 ACCOUNT VALUE

The formula for gross account value at the end of each modal period will be: ⁰¹⁰³³ AV_{t m}=^GrossAV_{t ra}._l + NP, _m - ExpenseCharge_{t m} - MECharge, _m + Invlncome, _m - COIcharge, _m - Withdrawal, „ ^NetAV_tιrn = ^"ANt._m - LoanBalance_t,_m

Initially, ^Gross AN_{0 Q} = Internal 1035 Exchange Premium at issue or 0 is no 1035 exchange.

(This represents 1035 exchange funds that are not subject to State premium of Federal DAC Tax)

6.4.1 Expense Charge

The expense charges will be defined as a result of the carrier utility and the user module configuration. See the description of calculation of expense charge components in Section 5 .5.2

The expense charge represents the cumulative per $1000 charge for each coverage segment and any flat policy fees defined in the carrier utility. The expense charge is assumed to be applied at each modal processing date.

Rounding Rule: Round to Nearest 2 decimals

6.4.2 Periodic M&E Charge Deduction

Note that the investment income credited to the policy will be net of the fund level expense charges. The M&E charge will be taken out of the policy on the periodic processing date.

The formula for computing the band weighted M&E Charge at the beginning of each processing period. (Note this is before any other processing and would be calculated on a case basis. The ratio Band Weights calculated below are then applied over all policies processed on that date. For illustrations note change bin last formula below from previous versions)

Bandl Asset, _m = minimum(^GrossAN, _m_₁ x CaseMultiplier,BandAmount)

Band2Asset, _m = maximum(0,^GrossAN,_m_₁ x CaseMultiplier - BandAmount)

(BandlAsset_{f nι} )

Bandl Weight, _m = - i ^- ^t'^{ra Gross}AN,_ιm_, χ CaseMultiplier

Band2Weight_flh = 1 - BandlWeight, _ra

MEvalue, _m = MEBandl, x BandlWeight, _m + MEBand2, x Band2 Weight, _m

MECh arg e, _m = (^Νe AN, _m_, + ΝP, _m )x [(l + MEvalue, _m ) °^iicy _Mo ^de - 1 j. ^" AN = Signifies the Account Value before anything is done to it.

Rounding Rule: Round to Nearest 2 decimals 6.4.3 Cost of Insurance (COI) Charges

Cost of insurance charges will be defined as a result of the carrier utility and module configuration. See description of the calculation of these charges in Section 5.

The COI charges will have different calculations for depending on the Death Benefit Option selected or whether the contract is in the corridor.

Use the COI charge defined in section 5.5.4 based on the coverage segments and the current Net Amount at Risk. The annual COI charge need to be adjusted to the modal period using the following formula:

^(m > coι = (l - (l - coi , )'""" )> where pm = Policy Mode Rounding Rule: Round ^COI Nearest to 8 decimals

The COI charge for each period will be calculated as follows:

FlatExtra,

FlatExtraCharge, = CumDB, ., x pmx lOOO

COICharge_{t m} = (COILeveL _mor COIInc,_>m) + FlatExtraCharge,+^(ra)TeπrιRiderCharge,

Rounding Rule: Round to Nearest 2 decimals

• Option A defined by f TDBt, - -^GrossAV_{t m} , - NP, _m + ExpenseCharge_{t m} + MECharge, _m - GivebackAmount, ^(pm,(

(l+^Guari) » • ^• j

COILevel_{t m} = - l-^(ιnn)COI,

Option B defined by

COIInc, _m =

6.4.3.1 Term Rider Charge

Using the Term Rider COI defined in Section 7.2.1. Add to the monthly COI Charge the Charge for the Term Rider Component. ^(ra) TermRiderCh arg e, = TermBenefit, x (l - (l - TermCOI , ) ^m ) Rounding Rule: Round to Nearest 8 Decimals

^Annual TermRiderCh arg e, = TermBenefit, x TermCOI,

6.4.4 Net Amount at Risk and Attribution to Coverage Segments

Net amount at risk is defined as the difference at any point in time, between the Total Death Benefit and the gross account value. However, at the periodic processing date and for attribution to coverage segments use the following:

NAR, _m AV_tιm_, - NP, _m + ExpenseCharge, _m + MECh arg e,_m -GivebackAmount,

Other times, lets call it time s, the NAR would be

NAR_S = TDB_s-^GrossAN_s -GivebackAmount,

Note: Not sure how the illustration system or administration system, would use NAR except on the periodic processing date.

6.4.5 Investment Income Crediting

Investment income will be calculated for each modal period based applying a net interest modal credited rate to net beginning of period assets. Net interest is the gross interest assumptions less all asset-based charges; Fund Advisory, Fund Expense and M&E Charges

Interest Credited for the Period will be adjusted from the annual rate netbeforeM&E ! :. (m) ₌ J₁₊netbeforeM_&E_it J'""" _ j _{? where pm =} ^^ ^^

loancredit _t j ^■ («) ₌ (₁₊loa„credit _it jf'P» _ ^ _{where pm} = _pol_{icy mode}

The formula for net investment income is as follows:

UnloanedAssets, _m =(^NetAV_tιII1_₁ + NP, - MECharge,_>nι - COICharge_tιm - ExpenseCh arg e, _m - Withdrawal,_^)

UnloanedInvestIncome, _m = UnloandAsset, _ra x (^netbeforeM&E {< ⁾ )

Loandlnvestmentlncome, _m = Loan_tιm_, χ^loancredit i⁽ _t ^m> Investmentlncome, _m = Unloadedlnvestmentlncome, _m + Loanedlnvestmentlncome_{t m}

Rounding Rule: Round to Nearest 2 decimals

6.5 SURRENDER CHARGES AND SURRENDER VALUES

The cash surrender value will be the account value adjusted by any surrender charges and giveback amounts.

CSV, _m = AN,_m - SurrenderCharge, + GivebackAmount,

For maximum loan purposes, the greater of the AN or CSV should be used.

The ΝetCSN, Net Cash Surrender Value, will be net of any outstanding loans and accrued loan interest.

NetCSV, _m = CSN_{t m} - Loanbalance,_m

6.5.1 Surrender Charges on Decreases of Coverage Amount

When decrease in death benefit coverage drops the death benefit amount below the initial death benefit amount for that coverage, a pro rata portion of any surrender charge applicable for that coverage is charged to the policy's account value.

For example, three situations where we drop the coverage by $500,000.

Situation 1 2 3

Initial Coverage 1,000,000 1,000,000 1,000,000

Current Coverage 1,000,000 1,200,000 1,500,000

New Coverage Amount 500,000 700,000 1,000,000

Pro Rata Amount 50% 30% 0% 7 DEATH BENEFITS

7.1 DEATH BENEFIT OPTIONS

Death Benefit Options in effect would apply to all coverage segments, i.e. no mixing of death benefit options between coverage segments.

There are two Death Benefit Options were

7.1.1 Option A — Level Death Benefit

• Death Benefit Coverage is level, account value would reduce the net amount at risk.

• The Death Benefit may be forced up due to the 7702 corridor.

• This would be the default option.

• The policy may be switched to this option at any time.

7.1.2 Option B - Death Benefit plus Account Value

• Death Benefit Coverage is equal to the Specified Amount of Coverage at issue plus the Account Value.

• Scheduled increases and the return of premium option need to be allowed.

• No decreases would be allowed at issue.

• 7702

7.2 RIDERS

7.2.1 Single life term rider

• This term rider is intended to be used in rare circumstances where specific coverage may be needed in addition to the coverage provided in the base policy. It is not intended as a mechanism to adjust the compensation of the policy. This term rider will have no compensation associated with it. Because of the nature of this rider it is expected to be used in temporary circumstances, scheduled and not to be adjusted dynamically within the coverage segments.

• Available for single and joint policies

• The schedule of death benefits provided by this rider would be specified by the user.

• The term charges for this rider will be •

TermMult , = COITermMult _x , COI TermMult will be defined in the Carrier Utility

TermAdd, = COITermAdd. , COI TermAdd will be defined in the Carrier Utility

TermFactor, →- Carrier Utility Factors Defined to Add to Term Rider Charges

TermComm, → Carrier Utility Factors Defined to Term Rider Commission (TermMult , χ^cuιr q_[x]+,_, x TableRating + TermAdd , )

TermCOI, = min , — . PolicyGuar

(1 - TermFactor,)

Rounding Rule: Round to nearest 8 decimals

• For GLP, PN of expected charges would be added to GLP limit. Calculate PN using the same factors used in the GLP and GSP calculations.

• Term Premium would be treated as QAB and not counted as part of the 7-pay premium. • Riders can exist, for one or both insureds in a survivorship case.

• Payment for this rider is charged to the account value.

• The amount of the term rider is to be shown separately from the policy TDB, but for single life policies an additional column could show a combined result of the policy TDB and Single Life Term Rider. Please label this column Total Death Benefit Including QAB Term Rider.

• For simplicity, the new business illustration system does not have to allow any illustration of unscheduled changes in the term rider amount post-issue.

7.2.2 Policy split rider

This rider provides a benefit that a survivorship policy can be split into two single life policies at any time in the future.

• A 50/50 split is allowed for all policies in case of a tax law change or divorce.

• Evidence is required for all other splits, other splits are allowed on a 50/50 split with an exception allowed if approved by underwriting.

• The result of the split will be the issuance of 2 new single life policies based on the same configuration as the original policy. If evidence is provided, the new policies will be issued based on the results of the new underwriting. If no evidence is provided the new policies will be issued on the same basis as the original underwriting with the mortality assumption based on point in scale.

7.2.3 Return of Premiums Paid Rider

• This option will increase the death benefit coverage by cumulative amount of premiums actually received less cumulative withdrawals.

•

• This rider is available with either Death Benefit Option A or B. This additional coverage will always be added to the first coverage segment and considered scheduled at issue coverage.

• The added coverage from this rider is considered part of the original issue coverage segment for purposes of calculating the Cost of Insurance Charges and Net Amount at risk.

• This option may not be added post issue without underwriting. The rider would only provide increase death benefit coverage for premiums actually paid on or after the date that the rider is effective. (If previous premiums paid are desired to be included in the coverage, we would treat as an unscheduled post-issue increase.

• The benefits of this rider are not considered in the initial calculation of 7702 or 7702A tests.

• This option needs to be available for both CVAT and GPT test.

• GLP and GSP's would need to be adjusted for the effect of this rider.

• Post-Issue adding of this rider would be considered a material change.

• There is no commission associated with this rider.

• This rider may be dropped at any time and not considered a material change.

7.2.4 Enhanced Death Benefit Rider

This rider allow an enhanced death benefit corridor to be used in conjunction with either Death Benefit Option A or Death Benefit Option B.

• This rider must be selected at issue or can be added post-issue only with underwriting.

• Adding post-issue would be considered a material change. Corridor Factors will be calculated using the CVAT formula but the assumptions with revised mortality and interest assumptions specially selected for this option. These assumptions will always be more liberal, i.e. lower mortality or higher interest, than the assumptions used for the CNAT test.

The user can specify at which policy duration this rider should begin to take effect. Prior to that year the corridor used in option A would be in effect. At the Enhanced Death Benefit (EDB) Rider start year the difference between the Option A corridor and the Enhanced Death Benefit Rider corridor will be graded in over a 5 year period.

For example,

EDB Start Year, CORR= EDB Corr - (.8) (EDB Corr-Opt. A Corr)

EDB Year+1 , CORR= EDB Corr - (.6) (EDB Corr-Opt. A Corr)

EDB Year+2, CORR= EDB Corr - (.4) (EDB Corr-Opt. A Corr)

EDB Year+3, CORR= EDB Corr - (.2) (EDB Corr-Opt. A Corr)

EDB Year+4, CORR= EDB Corr

For 7702 and 7702A calculations the death benefits provided by this rider are not considered as parts of these calculations.

7.3 POST ISSUE CHANGES

Insert grid of module results containing events

©

-4

7.3.1 Scheduled Increase or Decreases in Death Benefit

This is a change within a coverage segment that was anticipated at issue. Thus all necessary compliance testing was done when the segment was issued. These are changes that were either scheduled or based on some type of formula, i.e. salary increase etc, at issue.

Scheduled increases are treated as requests and need to be confirmed with the producer

Adjust face amount

No test for seven-pay

Not material change

No impact on target

Same COI charges and other charges

Recalculate GLP

No surrender charge if greater death benefit in coverage segment is greater than or equal to original base amount

Send new spec page to policy holder

Need underwriting guidelines that indicate how much change is acceptable.

7.3.2 Unscheduled increases

This is a change that adds a new coverage segment. The duration of the coverage segment will be based on the policies original issue duration less the difference between the issue age of the new coverage segment and the original policy issue age, i.e. segment r duration = t -(y_r-x).

• Each coverage segment will apply load factors based on the current duration of the coverage segment see section 5.5 to review how to combine load factors across coverage segments.

• If evidence is provided for the coverage increase, the mortality factor ^cuπq, will reenter the table at the new underwriting class at the coverage segment duration, i.e. duration 1. If not evidence the ^currq should be at the point in scale of the coverage segment with the most recent evidence.

• Compliance with 7702 testing will be done.

• This would be considered a materiel change, requiring new 7702A testing. (7-Pay testing)

• Target premium for the increased coverage will be calculated using the original target premium factor, which is a rate per $1000 of coverage issued.

• The policyholder would receive a policy spec page addendum detailing the new coverage changes.

• After any outstanding targets requirement from previous years are satisfied, new premium will be applied to satisfy the target in the most recently issued coverage segment first, i.e. coverage segment with the lowest segment duration, then to the next highest duration and so forth. Once all targets have been Any remaining premium is applied to excess pro-rated by units at issue.

• Each Coverage Segment will use the same expense factors as the original coverage but at the current duration of the coverage segment.

•

7.3.3 Unscheduled Decrease in Death Benefit

The Death Benefit can be reduced, as a result of either a policy service request or as the result of a withdrawal. • Drop most recent first (LIFO)

• Decreases will always reduce the most recently issue coverage segment first, i.e. coverage segment with the lowest duration.

• Surrender Charge rules apply to each coverage segment, i.e. apply a pro rata surrender charge for decreases below the original issue amount of the coverage segment.

• Expense per 1000 rate are calculated based on the issue amount of a coverage segment and do not change.

• Target premium for the coverage segment is reduced by the same pro rata amount used to calculate how much surrender charge is to be applied.

• Compliance with 7702 and 7702A needs to be done. Recall for 7702A, for single lives any decrease below the original issue face amount during the first seven years and within seven years of a material change would require retest the original policy for compliance. For survivorship policies, any decrease below the original issue amount throughout the entire life of the policy would need to be tested.

• The administration system handles a coverage decrease as an additional layer, this additional layer would have the same duration as the coverage segment it is associated with.

7.3.3.1 MEC testing on decreased of death benefit coverage

When a decrease occurs and the new face amount is below a previously tested level of 7-pay face, the MEC 7-pay premium needs to be recalculated and the policy needs to be tested that previously paid premiums are in compliance with the new lower premium. Premiums to be tested would be those received previously within the first seven policy years from the date of the last material change for a single life plan or over the entire lifetime for a survivorship policy.

In addition, any future premiums received would need to be tested at the new 7-pay premium level from the date that it was calculated. All premiums paid on or after this date are totaled by year measured from the material change date. A policy fails the test if at any time (viewed year-by-year) the sum of the premiums paid since the material change date is greater than the sum if the 7-pay premium had been received each year since the last material change date.

Example: Assume the 7-Pay Factor is Always $ 10 per $ 1000 Also Assume the 7-Pay Premium is paid each year.

Single Life

Transaction and Date DB 7-Pay

Issue on 1/1/00 1,000,000 10,000

So at Issue the 7-Pay Premium for testing will be $10,000. As long as the $1,000,000 Face Amount is the lowest face amount scheduled for the first seven policy years for a single life contract or over the entire life of the contract for a survivorship. So if at issue a death benefit decrease, lets say down to $700,000 was scheduled for year 5, the 7-Pay premium at issue would have to be based on the lower face amount, or $7,000. If a scheduled increase was included in the policy at issue, then these scheduled increases are not material changes, the 7-pay premium is not recalculated, and continues to be tested since issue. The idea here is that a material change only occurs if an increase was not anticipated in a previous calculation of the 7-pay premium.

Now suppose,

Transaction and Date DB 7-Pay

Unscheduled Increase on 1/1/01 1 ,250,000 (12,500 less AV/(7-year annuity))

This would be a material change and a new 7-pay premium is calculated at the higher face amount, the contract is treated as a new contract for 7-pay testing so the seven year period would start from the date of the increase. And premiums paid going forward would have to comply going forward with the new 7-pay premium that was calculated.

Now suppose instead,

Transaction and Date DB 7-Pav

Unscheduled Decrease on 1/1/01 500,000 5,000

The policy would have to go back and test each of the previously paid premiums over the past 7-years against this new lower premium. The contract would fail since in year 1, we assumed that $10,000 of premium was paid.

7.3.4 Mixed scheduled and unscheduled increases

• If a scheduled increase was expected and an additional unscheduled increase occurs, first apply the scheduled increase and then apply the unscheduled increase.

7.4 OPTION CHANGE FROM A TO B

• Material Change

• Underwriting required

• Use rules for unscheduled decrease in death benefit

• New Coverage Amount would equal pre-change coverage amount less pre-change account value

7.4.1.1 Option Change From B to A

• Not a material change

• Can be done without underwriting

• Guideline Premiums should be adjusted

• Treat as a scheduled increase in death benefit

DBJ. = DB^r + --■

⁽⁺⁾ 1000

7.4.1.2 Adding Return of Premium Rider Post Issue

• Material Change

• Return of Premiums will be effective for premiums received after the rider is added. • Underwriting required

• No immediate change in coverage

7.4.1.3 Dropping Return of Premium Rider Post Issue

• At request of policy holder

• Not a material change since the extra Death Benefit was not taken into consideration for the 7-pay test.

• Treated as scheduled coverage decrease.

7.4.1.4 Adding Enhanced Death Benefit Corridor Rider Post Issue

• Material Change

• Underwriting required

• No change in coverage segment although Net Amount at Risk could increase immediately due to enhanced corridor change.

7.4.1.5 Dropping Enhanced Death Benefit Corridor Rider Post Issue

• Not a Material Change, the enhanced death benefit was not taken into consideration of previous 7-Pay calcs so dropping would not have altered the previous tests.

• Underwriting Not Required.

• No impact on coverage segments

7.4.2 Partial Withdrawal

• Partial Withdrawals will force a decrease in Death benefit Coverage Necessary to keep the Net Amount at Risk the same after the partial withdrawal as it was before the partial withdrawal.

• The decrease will have the same rules about applying surrender charges on a pro rata basis if the decrease lowers the death benefit coverage below the initial amount coverage issued in the coverage segment.

• All compliance testing as required for face amount decreases.

• There may be a restriction on the minimum amount of a partial withdrawal or a partial withdrawal fee after some limited amounts of free withdrawals per year. Currently there is no fee set.

7.4.2.1 Options A

• Decrease the death benefit coverage to keep the Net Amount at Risk the same before and after the withdrawal.

• Reduce coverage segments by the most recently added segment gets removed first. (LIFO)

7.4.2.2 Option B

• Reduces account value, no change in Death Benefit Coverage.

7.4.2.3 Return of Premium Rider

• Return of Premium Rider is a function of Premiums Paid less Withdrawals so if the rider is in effect, a partial withdrawal will automatically reduce the death benefit coverage provided by the rider. Once the withdrawals exceed the premiums paid applying to the rider, the rider automatically ceases.

• There should be no change to the coverage segment amounts if the rider is still active.

Ill 7.4.2.4 Maximum withdrawal

• Cash surrender value

7.5 LOANS

• Treated as component of death benefit and account value.

• Loan interest will be charged in arrears on policy anniversary

• Any unpaid loan interest will be automatically capitalized out of policy values on the policy anniversary

• Loan Interest may be fixed or variable

• Loan Spread, will equal the policy M&E plus a pricing factor specified by duration

• Loan Crediting Rate will be the Loan Interest Rate less the Loan Spread

• allow billing for interest

• User can specify which funds to take loan or loan interest out of.

Loan_t =user specified + unpaid Loanlnt at t LoanBalance_t = Loan, at t+1 Loanlnt = LoanBalance , x LoanRate,

LoanRate _t = LoanCreditRate, + MEBandl_t + LoanFactor,. (utility scalar)

7.5.1 Maximum Loan

MaxLoan, = AV, _m -Surrender, -LoanBalance, -12x(ExpenseCharge,_m +COICharge_{t m})x(l-LoanSpread, LoanSpread _t = LoanRate, -LoanCreditRate _t

7.5.2 Misstatement of Age

• Adjust death benefit if discovered at death.

• Misstatement of age provision will be defined in the policy form.

• The illustration does not need to illustrate this.

7.6 1035 EXCHANGES

There are two types of 1035 Exchanges; Internal and External

• Carriers will get to decide there own individual policy on how to handle Internal 1035 exchanges with respect to which charges shall be waived. Typically, carriers seem to waive the State Premium Tax but must charge the DAC Tax.

• Charges DAC tax and State Premium Tax charges

• Outstanding Loan balances should be allowed to be transferred as part of the 1035 exchange

• The illustration and Administration systems need to capture whether the previous policy was considered a MEC or non-MEC policy and the amount of basis that exists in the contract at the time of exchange.

7.6.1 Tax Compliance Tests 7702 and 7702 A

See Section 8 and Section 9 for details on compliance tests 7.6.1.1 7702 Compliance for 1035 Exchanges

The rollover account value is treated as premium for 7702 testing.

7.6.1.2 7702A Compliance for 1035 Exchanges

The 1035 exchange will be considered a material change for 7-Pay testing purposes.

• If the existing policy is a MEC then the new policy will be a MEC.

• If the existing policy is a non-MEC, the exchange is considered a material change and the rollover account value is considered account value in the recalculation of the 7- pay premiums necessary whenever a material change occurs. See section 8.2.1.2 for calculation details.

7.6.2 Loans

1035 exchange amount rollover amount will be total account value including loan value.

1.1 LAPSE PROVISIONS

7.7.1 General Description

• The policy will have a general lapse provision that the policy will lapse if the account value plus giveback less any outstanding loan balance is not sufficient to cover the current modal deduction.

• An additional Guaranteed Minimum Death Benefit Feature may be available that will keep the policy inforce if a cumulative minimum premium requirement is met. (Not we do not necessarily need this for Day 1 implementation but may want to add it down the road.)

7.7.2 Guaranteed Minimum Death Benefit Rider

The policy will have a GMDB Premium feature that will keep the policy inforce during the surrender charge period for the initial coverage segment only if the premiums paid to date accumulated at 4% interest exceed the accumulated GMDB premiums had they been paid each year at 4%n interest

GMDB Factor → Defined in the Carrier Utility Amount of Target Premium to Be

GMDB Premium GMDBrate_t→ Defined in the Carrier Utility, Add on the Exp per K for GMDB Rider

GMDBmerate_t→ Defined in the Carrier Utility, Add on the M&E for GMDB Rider

GMDBPrem = Target Premium Factor x 'DB X GMDB Factor

GMDBExpCharge = GMDBrate, x ^:DB GMDBmeCharge=GMDBmerate, x 'DB

GMDB Test If (GPJ - Withdrawals^ (l+^ '-^J-¹ > GMDBPrem x(l+^guari) ^_1

Then the policy will not lapse, however, the account value will be allowed to carry forward at a negative balance. Should the GMDB test not be met, any negative account balance would need to be paid back to reinstate the policy.

7.7.3 Reinstatement

Requirements for reinstatement will be in the Policy Form

7.8 COMMISSIONS

7.8.1 Rules

7.8.2 Unpaid Target From Previous Years

Need to put in the same logic as used for filling sales loads over the past five years.

7.8.3 Components

Commissions will made up of the various commission pieces and paid when earned. The Components that make up the commissions are:

• Percent of Premium Commissions - Earned when premiums are actually received

• Trail Commissions - Earned on the policy anniversary

• Service Commissions - Earned at issue and on policy anniversary Formulas to calculate the commissions for illustration purposes will be are:

Commission, = Commission%, +TrailComm, + ServiceComm,

As calculated in the sections below.

7.8.3.1 Percent of Premium Commissions

Percent of Premium Commission are paid when the Premiums are Received Note, similarly to the five duration look back rule for applying sales loads to target premiums, there is a five duration lookback for applying the commission to the target premiums. The calculation is similar and the oldest outstanding duration is filled first. Excess Commission result when premium is received that is in excess of any outstanding target premium for the most recent 5 durations.

Using the same factors used in Section 6.3.3 calculate the percentage of premium based commission as

•

Percent of Premium Commissions CommT arg et%, = CommT arg et%Ml_t x Ml% + CommT arg et%M2%, x M2% CommBand2%, = CommExcess%Ml_t x Ml% + CommExcess%M2, x M2% CommExcess%_t = CommExcessExcess%Ml_t

T [CorπmTarget%_t.i x Tpaid(-i) , ] + [B2Paid, x CommBand2%_t ] + [CommExcess%_t x Excess, ]

Commissiori%, = — — -

GP

7.8.3.2 Trail commissions

Recall that

CommTrail%M3Bandl _t = Annual Commission to be paid on asset value at the end of the policy year.

CommTrail%M3Band2₁ = Annual Commission to be paid on asset value at the end of the policy year.

BandAmount =Amount where Band Break Occurs, this could be on a policy or case basis. Case Multiplier =For mimicking multiple lives for illustration purposes on a case basis.

M3% = Percentage of Module 3 to be applied. Default should be 100%

Then,

• CommTrailBand =

CommTrailBand2_t

then,

TrailComm_t = CommtrailBandl_t + CommTrailBand2,

Trail Commission is calculated by applying the trail commission percentage to the account balance on the last day of the policy year (i.e. the day prior to the policy anniversary). For illustration purposes use the end of year account balance including loaned account balance. Trail commission is paid on policy anniversary. Trail commissions will be banded. 7.8.4 Service Commissions

Recall that

ServiceCommM4₁= Per $1000 based commission to be paid on the amount of insurance issued in a coverage segment.

M4% = Percentage of the M4 commission to be paid.

Then to calculate service commission at the beginning of duration t: ftofSeg

∑ _x ^rDB_y χSeroceCommM4, x M4%

ServiceComm, = r=l set for each modal period

1000

Service Commissions are paid at the beginning of each policy duration, if any.

7.8.5 Commission Chargebacks

Commission chargebacks are not part of the illustration system but will need to be monitored by the administration system. A chargeback report will be generated with a lapsed policy report.

7.8.5.1 Module 1 Chargeback Rule

Module 1 Commission chargebacks will be applied as follows:

7.8.5.3 Module 3 Chargeback Rule

No Commission Chargeback will be applied to module 3 commissions

7.8.5.4 Module 4 Chargeback Rule

Module 4 Commissions chargebacks will be applied as follows:

• First Year Option use Module 2 Charge Back Schedule

• All Year Option use Module 1 Charge Back Schedule

8 TAX LAW COMPLIANCE

The illustration and administration systems will have to test for compliance with Section 7702- Definition of Life Insurance and policy status under Section 7702A-Modified Endowment Testing, also referred to as the 7-Pay Test

8.1 DEFINITION OF LIFE INSURANCE - SECTION 7702

At issue the insured must make an election as to which 7702 Test, Guideline Premium Test (GPT) or Cash Value Accumulation Test (CVAT) will be applicable to the policy. This election cannot change post-issue, without essentially reissuing the contract.

Corr = Tax Defined in 7702 (2.5 → 1)

8.1.1 Guideline Premium Test (GPT)

The GPT test is a two part test.

The first part places a limitation on the level of premiums that can be paid into a contract for a given level of benefits.

The test work by limiting the cumulative premiums that can be paid at any time is calculated to the greater of the Guideline Single Premium (GSP) or cumulative Guideline Level Premiums (GLP) assuming that the GLP is paid each year.

Guideline Premium Test - Part 1: ^Premiums < max(^GLP,GSP)

The Guideline Premiums are calculated using the guaranteed mortality and current expense factors for the policy. For the GLP calculation, a 4% interest rate is used, for GSP a 6% interest rate is used. Note one of the complications in the calculations for this test result from inclusion of guaranteed expenses into the calculations. Because a product could have up to three sales load bands, actually three GLPs will need to be calculated and the GLP for the policy set to the lowest resulting GLP. This product has three sales load bands This is discussed further in Section 9.

Details on how to calculated these guidelines are included in the sections below.

The second part is a Corridor Test using factors defined in the Tax Code. The Corridor Test works to assure that a minimum level of death benefit protection is provided by the contract, by forcing the death benefit at anytime to exceed the policy account value multiplied by a Corridor Factor. The Account Value and Death Benefit formulas in Section 6, will test for Corridor Compliance based on defined Corridor Factors.

For the GPT test, these Corridor Factors are currently :

CorrFactor based on Attained Age

For Survivorship Policies use the attained age of younger insured

8.1.1.1 Calculating the GLP Option A

The GLP is equal to the Net Single Premium (A_x ) plus the present value of expenses divided by a life time annuity. Note these formulas are designed to calculate the GLP and GSP factors for a $1 of Death

Benefit. Then, multiply the factor by the appropriate Death Benefit to get the premium for the policy. •

Definitions to be used in all Guideline Calcs ^GLP i = .04 This is based on the current tax code requirements MEGuideline _t = Min[MEBandl _t , MEGuidecap] MEGuideCAP= 0.60% As follows for Option A:

Continuous

A^A + E

^!GLP^A = annuity _x

To calculate A^A _X ,

Set: A^A _ω = 1 , where ω = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

where ^dmGLP i _t t =^GLP i - MEGuideline, t and v, t = ι , durG P :

To calculate annuity^ ,

Set: annuity^Aω = 0 , where co = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

annuityVi = (l-^s GLPSalesload%, )+ v, (l-^TaxQuar q_x+t_, )annuity ^A _t ,

To calculate E_t ,

Set: E_ω = 0 , where ω = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

TaxGuar _ H TaxGuar _ |

AnnExp ,

E^ AnnExp^ + v^p.^E,)

^sGLPBandLoad is defined in section 9.1.1.1 Calculating the GLP Option B

As follows for Option A:

Continuous

A^B + E ^SGLP^B = ^Aχ „ ' annuity x

To calculate A_v

where **"* i_t =^ϋU ι - MEGuideline, and v, = 1 , αutuLi- •

(Note that this is different from the Option in the calculation is not recursive. To calculate annuity^ ,

Set: annuity ^B _ω = 0 , where co = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

_If TaxGuar_q ^ _<χ ^ annuityVi = (l-^s GLPSalesload%, )+ v, x annuity^Bt , annb_ω = 0 Else annuity^B _t =(l-GLPSalesload%) (Note Well.)

To calculate E, ,

Set: E_ω = 0 , where co = max age - issue age (in this case 110-x) Then , for eacht working backwards from ω until t=l, calculate

AnnExp,

E_w = AnnE_Xp_H + v_t ^,taft- p_R+(.₁ (E_t) ^sGLPBandLoad is defined in section 9.1.1.1

8.1.1.3 Calculating the GSP

Note these calcs are very similar to those used in option A but use a 6% interest rate.

_s^_oτ, A^GPx + E^GSPι+^sGSPBandLoad

^SGSP = , l-^sGSPSalesload% ^sGSPSalesload will vary and is defined in 9.1.1.1.2

^Gspi = .06 βSP

To calculate A _x

Set: A^GSP _ω = 1 , where co = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

1 where ^dulGSP i, =^GSP i - MEGuideline, and v, = l₊durGSP ._t

To calculate E^GSPι ,

Set: E^GSP _<a = 0 , where ω = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

TaxGuar TaxGuar

«-. = (!- 4x+t-

AnnExp

E^ - AimE _M + v. ^- p^^E,)

^sGSPBandLoad is defined in section 9.1.1.1 8.1.1.4 Calculating the At-Issue GLP and GSP

Please refer to Section 9.1.1.1.1 and Section 9.1.1.2.1 to select the proper GLP and GSP factor per $1 of death benefit to be selected based on the Band 1 and Band 2 Target amounts. Calculate the GLPprem and GSPprem at issue as follows:

GLPprem, =_xDB°;° x GLP,

GSPprem, =_x DB°;° x GSP,

8.1.1.5 Calculating the Post-Issue GLP and GSP for Additional Coverage Segments

For any post-issue Additional Coverage Segment an additional GLP and GSP will be calculated using the same formulas as used to calculate the base coverage GLP and GSP. Note that for the Additional Coverage Segment the duration is reset to 1 for that segment.

For Guideline Calcs, Additional Coverage added in a polcy year are assumed to occur at the beginning of the base coverage plicy year. So even if the coverage is added midway through calculate the factors as if they apply for the entire age year. For example, if we add coverage in duration 5 of the base policy. The new segment will be duration 1 in that year. When the duration of the base segment goes to duration 6, the duration of the additional coverage would be 2, etc.

This primarily effects the policy factors used to calculate the Guidelines. Also recall for Banding the Guidelines the Band 1 target premium is based on the same per $1000 factor as for the original in the original coverage.

8.1.1.6 Change in DB Effect on Guidelines

To adjust the GLPprem or GSPprem after a change in DB use the following formula for a change at age x+t:

GLPprem_x+t = GLPprem_x + GLPprem_x+, (usingCumDB_traafter) - GLPprem_x+t (usingCumDB ^before

GSPprem _x+t = GSPprem _x + GSPprem_x+t (usingCumDB ^_m after) - GSPpre _x+t (usingCumDB ^before

For compliance testing the effect of any mid-year change in the Guidelines, should be pro-rated over the remaining policy year. (Note this is just worded differently but has not changed.)

[Note, the above changes in this section were to distinguish between the GLP factor for a $1 of Death Benefit and the total P based on the Face Amount ] 1.7 QAB's for GPT Test

The GLP and GSP for the base policy can be increased for costs associated with benefits associated with QABs. The additional premium is equal to the present value of the term charges expected based on the schedule specified on the rider policy page, divided by the whole life annuity. These benefits will be discounted at 4% interest for the GLP test and 6% interest for the GSP test and a mortality rate using the ^TaxGuarq.

^QABA

QABGLP Amount = _0AB ^x÷t"' - , where x is the age at issue or material change date. ann^w _x+t-ι

Rounding Rule: Truncate to the Whole $, ie 0 decimals.

To calculate ^QABA_x+t.

Set: ^QAB A_ω = 1 , where ω = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

where ^durtjLP i = i - MEGuideline, and v = 1 , αuniLr ^■

To calculate annuity^QAB _x ,

Set: annuity^Aω = 0 , where ω = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

annuity^QABt-ι = 1 + v, (l-^TaxGuar q_x+,_, )annuity^QAB

QABGSPAmount = ^QABGSP A_x+t_, , where x is the age at issue or material change date.

Rounding Rule: Truncate to the Whole S. ie 0 decimals.

To calculate ^QABGSP A_x+,_, ,

Set: ^QABGSP A^ = 1 , where ω = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate QABGSP _{Aχ+t ( =}

where d ^αu^ur^ΛG^jS^bP^P L • = G™S"P ; i - MEGuideline. and v. = ι , αuiuar •

At issue use QABGLP Amount as an addition to the GLP for the basic policy. Do the same except using QABGSP Amount as an addition to GSP.

When testing the corridor for the GPT test, the QAB death benefit is not included in the death benefit used to test the corridor. The QAB benefit would be in addition to any increase in the death benefit for corridor.

Post-Issue Adjustments to the QAB Term Benefit Amount would change the QABGLPprem and QABGSPprem similarly to how the adjustment is made on the base policy.

8.1.2 Cash Value Accumulation Test (CVAT)

The CVAT test is only a Corridor Test. The Corridor Factors to be used are defined as the inverse of the net single premiums calculated for each age using a 4% interest rate and guaranteed mortality charges. No allowance for guaranteed expenses is allowed.

The Net Single Premiums at the beginning of the year will be used in calculating the Corridor Factor for the entire year. The Account Value and Death Benefit formulas in Section 6, will take test for Corridor Compliance based on defined Corridor Factors.

CORR = A CV ¹AT

Rounding Rule: Corr is rounded up to 4 decimal places, ie 2.33351 becomes 2.3336

To calculate A^CVAT,

Set: A^CVAT _ω = 1 , where ω = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate -^TaxGuarqχ₊t.

where ^CVA1 i = .04 and

M ^VA1 i

8.1.2.1 QAB's for CVAT Test

The any death benefit associated with a QAB will NOT be associated with the death benefit used to test for compliance with the cash value corridor in the CVAT test. Thus, the death benefit would be increased to comply with corridor strictly based on the death benefit of the base policy, without any consideration of the term rider death benefit.

8.2 MODIFIED ENDOWMENT TESTING - SECTION 7702A THE 7-PAY TEST

The 7-Pay test is designed to see whether excessive amounts of premiums are paid into the contract. If a contract fails this test it is considered a Modified Endowment Contract. Modified Endowment Contracts treat distributions similar to annuity contracts rather than life insurance contracts. See Section below on how to treat distributions for tax purposes.

A contract is considered to have passed the 7-Pay Test, i.e. not be considered a modified endowment contract, if the cumulative premiums paid since policy issue or the date of the last material change do not exceed the cumulative 7-pay premium paid annually over the same period.

7-Pay Test - Part 1 : Pr emiums ≤ (∑ 7 - Pay Pr emium)

A policy that is not considered a modified endowment contract at issue can later become one if there is a reduction on benefits or a material change to the policy. A policy that has a material change is considered a "new" issue for 7-Pay purposes and needs to be retested for 7-Pay compliance at that time.

A contract can be considered "materially changed" if a triggering event described in Section 7.3 or the Necessary Premium Test is violated. If this occurs, a new 7-pay test and period would begin from the time of the triggering event.

8.2.1 Calculating the 7-Pay Premium

8.2.1.1 7-Pay Premium Calculated at issue

The 7-Pay Premium is calculated at issue or at a material change using the lowest amount of death benefit coverage over the first seven contract years from the testing date for single life policies, over the entire remaining life of the policy for survivorship policies. The 7-Pay premium will then equal the premium that would pay up this death benefit in 7 annual premium payments using guaranteed mortality and a 4% interest rate with no allowance for additional expenses.

7PayDB — »The Death Benefit used for 7-Pay Testing as defined above.

Flat Extra Premiums — » Flat Extra Premiums for 7-Pay Test are any permanent flat extra premiums plus, for single life only, temporary flat extras that last for at least 7 years. Note there generally are two types of flat extras, permanent and temporary. Since some carriers define permanent flat extras to only apply for a certain time period there needs to be an entry in the carrier utility to specify how long to apply permanent flat extras.

7PayPremium = 7PayFactor x 7PayDB + Flat Extra Premiums

Round this to the lower $ ie 0 decimals

8.2.1.2 1035 Exchange - 7-Pay Premium

If the policy is being issued as a result of a 1035 Exchange, or a retest is being done as the result of a Material Change, an adjustment is made to account for the rollover account value:

RolloverValue — The 1035 Rollover Amount or The Current Account Value in the case of a material change

Adjustment to the 7-Pay premium calculated above is,

RolloverValue

Adjusted 7-Pay Premium= 7PayPremium •

If Adjusted 7-Pay Premium < 0 , then set equal to 0.

8.2.1.3 Calculate 7-Pay Factors

7PayFactor= y- , where x is the age at issue or material change date. arm x

Rounding Rule: Truncate 7Pav Factor to 5 Decimal Places ie .0564933 becomes .05649 To calculate A„ ,

Set: A_ω = 1 , where ω = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

( ^ll-^TaxGuar q ^{» ™}iχ₊4._tt-_,i ) I-A *

— ^■ x^+t

recall CV^VA^AT¹ ; i = .04 and v = l+^CVATi

To calculate ami! Set, ann_x+7 = 0 , here we only look forward 7 years.

Then, ann_x+t_, = l + v,(l-^TΛq_x+,_, )(ann_x+,), starting at t=7

8.2.2 7-Pay Premium for Qualified Additional Benefits - QABs

The 7-Pay Premium for the base policy can be increased for costs associated with benefits associated with QABs. The additional premium is equal to the present value of the term charges expected based on the schedule specified on the rider policy page, divided by the 7-year annuity. These benefits will be discounted at 4% interest and the ^TaxGuar _q .

^QABA

QAB7PayFactor= -X , where x is the age at issue or material change date. arm

To calculate ^QABA

Set: ^QAB A_ω = 1 , where o = max age - issue age (in this case 110-x) Then , for each t working backwards from ω until t=l, calculate

recall ^UVA1 i = .04 and v = l+^CVATi

Note dropping or changing the terms of the QAB benefit post issue could be considered a material change and require restarting a new 7-Pay Test period.

8.2.3 Reduction in Benefit and Material Changes

If benefits are reduced during the first 7 policy years after the date of the 7-Pay test, (i.e. issue or a material change date for a single life policy or over the entire remaining life of a survivorship policy) , a recalculation of the 7-pay test is required. The recalculation must assume that the new lower benefit had been in effect when the original test was done, (the 7-Pay premium would be calculated using the lower benefit) This means going back to check if the premiums paid would have violated - the 7-Pay test with the new lower 7-Pay premium.

A material change occurs when there are unscheduled increases in the death benefits or other changes in the contract that were not considered in a previous calculation of the 7-pay premium. If there is a material change the contract is considered a "new" issue for 7-pay testing purposes and a new 7-pay test period begins. The 7-Pay Premium is recalculated using the Rollover Adjustment discussed in 8.2.1 and a new testing period begins.

There are two exceptions to when increases in death benefits are not considered material changes 1. If the increase in death benefits is due to the payment of a "necessary" premium , or

2. The increase is based on some broadly defined index, like CPI.

8.2.3.1 Necessary Premium Test - GPT

To calculate whether a premium is "necessary" for contracts that use the Guideline Premium Test.

7Pa^yDB QJJ, _{= GL}pf_{actor χ} 7p_ayDB

TPayDB Qgp _{= GS}p_{factor χ} 7p_ay_DB

We say that a premium is considered "necessary" if,

GP _Gp._(-)_Gp

If the premium is not "necessary" then a material change has occurred and the 7-Pay Premium needs to be recalculated as defined in 8.2.1

Recall,

^{( )}GP= Equal the Cumulative Gross Premiums Received in the current year not including the current Gross Premium being received.

GP = Equals the Current Gross Premium being received

[Note: The GPT Test uses Gross Premium for Necessary Premium Testing, while CVAT uses Net Premium. This is how it is written in the regulations.]

8.2.3.2 Necessary Premium Test - CVAT

To calculate whether a premium is "necessary" for contracts that use the Cash Value Accumulation Test;

We say that a premium is considered "necessary" if,

NP < A_X ^CVAT x 7PayDB - min imum(deemedCN_r , AN)]

If the premium is not "necessary" then a material change has occurred and the 7-Pay Premium needs to be recalculated as-defined in 8.2.1. (Although this should not be possible unless premiums are paid in that are in excess of the Necessary Premium at some previous point, which should require a material change and start the testing all over, but for programming purposes, the Necessary Premium is floored at 0, ie a negative amount here without a premium payment does not automatically trigger a material change. However, should this occur a flag should be noted to check into what is going on.}

Define,

NP = Equals the Current Gross Premium being less current premium loads

AV= Equals the Current ^Gross AN deemedCN_r = Equals the Deemed Cash Surrender Value immediately prior to consideration of the current premium payment

[Note CVAT uses Net premium instead of the Gross Premium used in the CVAT test]

8.2.3.2.1 Calculation of Deemed Cash Surrender Value

Deemed Cash Surrender Value (DCSV) is calculated at each processing period using a formula similar to the account value formula

DCSV^ = DCSV,_m_, +GP_tim + DCSVmvIncome_{t m} -DCSVCOIcharge,_m

DCSVInvIncome,_ιm = (DCSN,_ιm_, + GP_tιin -DCSVCOIcharge_{t m})x ((l.04)^ -l)

^(m)TaxGuarqx₊t-. = (l -(l-^TaxGuarq ₊t-, )^1/m). where m= PolicyMode

DCSVCOICharge,_m

The withdrawal adjustment is being removed under the assumption that the actual AV can be used if lower than the DCSV.

9 COMPLIANCE PROCEDURES AND TAX REPORTING SPECIFICATIONS

This section will outline the various procedures that need to be developed for the illustration and administration systems for which transactions result in the need for tax compliance testing. The sections should also outline any tax reporting that would need to be done as a result of the transaction. 9.1 AT ISSUE

9.1.1 7702 DOLI Testing

The policy owner must select on the application which test will be used by the contract for compliance with 7702. The choices are the Guideline Premium Test and the Cash Value Accumulation test. Policies can not be issued without this election being made on the application. The tax compliance test that has been selected will be listed on the policy specification pages delivered with the policy form.

9.1.1.1 GPT Test at Issue

At issue the system will calculate the GLP and GSP using the formulas in Section 8 based on the Face Amount and Load Configuration selected for the policy.

The GLP does not have a unique formula because the loads used in the GLP calculation would vary if the GLP was greater or less than or equal to the Band 1 target premium and similarly to the Band 2 target premium. This will mean that three GLP's will need to be calculated. The first assumes the GLP is less than the Band 1 Target (referred to hereafter as 'GLP), the second assumes the GLP is between the Band 1 plus Band 2 target (referred to hereafter as ²GLP) and the third assumes that the GLP is greater than the Band 1 plus Band 2 target (referred to hereafter as ³GLP). The GLP would be set to the lowest result.

The difference for each of the GLP calcs is what is used for the sales load component in the calculation of the

and in the calculation of Ei.

9.1.1.1.1 GLP Calculation Adjustments

Specifically,

For 'GLP (ie the calculation of the GLP if GLP<Band 1 Target) , 'GLPSalesload%, = UρtoTarget%,

'GLPBandLoad, = 0

Then follow calculations in 8.1 to get For 'GLP

To keep these calculations on a per $1 of Insurance basis we need to calculate the Band 1 and Band 2 Targets on a per $1 of insurance basis.

Define:

BIT arg et = BandlUserSpecifiedAmount% x 7PayFactor

B2T arg et = Band2UserSpecifed% x f 1 BIT arg et 1 lCorr_x )

For additional coverage segments use the same BI Target and B2Target as the original coverage segment. For ²GLP (ie the calculation of the GLP if Band KGLP<Band 1 Target+Band 2 Target) , ²GLPSalesload%, = Band2Target%,

² GLPBandLoad , = (UptoT arg et% , - Band2T arg et% , ) x BIT arg et Then follow calculations in 8.1 to get ²GLP

For ³GLP (ie the calculation of the GLP if GLP<Band 1 Target) , ³GLPSalesload%, = Excess%,

³ GLPBandLoa d , = (UptoT arg et% , - Excess % , ) x BIT arg et + (Band2T arg et% , - Excess % , ) x B2T arg et

Then follow calculations in 8.1 to get ³GLP

9.1.1.1.1.1 This definition below is how the GLP is selected

To choose the GLP, first, compare the ³GLP to the sum of the BlTarget plus the B2Target, if the ³GLP is greater than this sum then ³GLP this is the GLP. If not, compare ²GLP to the BlTarget, if ²GLP is greater than the BlTarget then ²GLP is the GLP. If not, the 'GLP is the GLP and this will be less than the BlTarget.

9.1.1.1.2 GSP Calculation Adjustments

Similarly for GSP, the

For 'GSP (ie the calculation of the GSP if GSP<Band 1 Target) , ¹ GSPSalesload% = UptoT arg et%,

'GSPBandLoad = 0

Then follow calculations in 8.1 to get For 'GSP

To keep these calculations on a per $1 of Insurance basis we need to calculate the Band 1 and Band 2 Targets on a per $1 of insurance basis.

Define:

BlTarget = BandlUserSpecifiedAmount% x 7PayFactor

B2T

For ²GSP (ie the calculation of the GSP if Band KGSP<Band 1 Target+Band 2 Target) _: ²GSPSalesload% = Band2Target%,

²GSPBandLoad = (UρtoTarget%, -Band2Target%,)χ BlTarget

Then follow calculations in 8.1 to get ²GSP

For ³GSP (ie the calculation of the GSP if GSP<Band 1 Target) ,

³GSPSalesload% = Excess%,

GSPBandLoa d = (UptoT arg et% - Excess%,) x BIT arg et + (BandlT arg et%_l - Excess%_λ ) x BIT arg et

9.1.1.1.2.1 Then to select the GSP as follows

To choose the GSP , first, compare the ³GSP to the sum of the BlTarget plus the B2Target, if the ³GSP is greater than this sum then ³GSP this is the GSP. If not, compare ²GSP to the B ITarget, if ²GSP is greater than the BlTarget then ²GSP is the GSP. If not, the 'GSP is the GSP and this will be less than the B ITarget.

9.1.1.1.3 GPT Maximum Premium at Issue

The maximum premium that can be received at issue if the GPT test is selected is the GSP.

9.1.1.2 CVAT Test At Issue and Maximum Premium

At issue the system will calculate the corridor factors as described in section 8.1.2

If the CVAT test is selected then the maximum, premium that can be paid is equal to ι _DBo.o Maximum Premium at Issue CVAT test ^{~ y}'

Corr,

9.1.2 7702 A Compliance with 7-Pay Non MEC Testing at Issue

At issue the system needs to check the MEC status of the policy. We may require that insured sign an acknowledgement to issue a policy that fails to qualify as non-MEC. It may be that wise to consider extending this requirement to anytime in the future should the policy change in status from a non-MEC to a MEC.

The system will calculate the 7-Pay Premium based on the case parameters.

For non- 1035 Exchange policies, the maximum premium that can be received at issue for a non-MEC policy is the 7-Pay Premium.

For 1035 Exchange policies, the policy owner will need to certify whether the prior policy was a MEC or non-MEC. (There should also be some indication of the prior MEC status from the prior insurance company, such as the policy account value was subject to withholding, etc, that may cause further investigation before issue to determine the prior MEC status.) If the policy was a MEC then the new policy will be a MEC and the maximums for the DOLI tests discussed in the 9.1.1 apply. If the prior policy was a non-MEC then the maximum premium that can be paid is the 7-Pay premium reduced by the Rollover premium divided by the 7-year annuity factor as discussed in section 8.2.1.2. j -, - „ RolloverValue

Adjusted 7-Pay Premium = 7PayPremιum - , arm

The maximum premium that can be received to issue the policy as a non-MEC is this adjusted premium.

9.2 POST-ISSUE

After issue the following transactions will require that the policy be checked for tax compliance:

• Premium Payments

• Withdrawals

• Face Increases

• Face Decreases

• Death Benefit Option Changes

• Change in Underwriting Status (including Change in Flat Extras)

The following activities need to be check to see whether a 1099, due to receipt of gain in the contract, needs to be generated:

• Surrender

• Partial Withdrawals

• Loans

• Any Cash Forceout as a result of any change in the contract

9.2.1 Post Issue Compliance with the 7702 Definition of Life Insurance Test

9.2.1.1 Post Issue GPT Adjustments

As discussed in 8.1.1.4 post issue changes in the death benefits require an adjustment to the Guideline Premiums. The premiums paid into the contract since issue must conform with the Guideline Premium rules using the new adjusted Guidelines.

Therefore, if the Sum of the Premiums Received exceed the Maximum of the Guideline Single premium or the sum of the cumulative Guideline Level Premiums then either the death benefit must be increased or some premiums must be returned as a forced withdrawal, ie forced out, from the contract. Any amounts returned may be subject to taxation under the Recapture Ceiling Test described in Section 9.2.3. or considered gain to the extent that cumulative withdrawals exceed policyholder basis.

ForceOut = Max 0, T Pr emiums Re ceived - Using the new adjusted

Guidelines. 9.2.1.2 Post-Issue CVAT Adjustments

Similar, to the GPT, if any post issue adjustment forced the death benefit below the amount required for compliance with the CNAT test, cash would have to be forced out of the contract as a withdrawal. These withdrawals may be subject to taxation under the Recapture Ceiling Test described in Section 9.2.3 or to the extent that cumulative withdrawals exceed policyholder basis.

ForceOut = AN - [TDB x Corr _x+t ]

9.2.2 Post-Issue Material Changes requiring a new 7-Pay Test

For contracts that are considered to be non-MEC contracts, certain post-issue events as described in Section 7.3 or failing the Necessary Premium Test described in Section 8.2.2 trigger a Material Change Event. Should a triggering events occur, a contract that is considered to be a non-MEC contract must recomply with the 7-Pay test rules beginning at the time of the material change. Any cash value existing in the contract at the time of the retest is treated as Rollover Value in the formulas in Section 8.2.1.2.

Contracts that fail the 7-Pay test post-issue need send confirmation of this to the servicing agent and the policy owner. Any distribution that was received within the two years prior to the year in which the contract becomes a MEC, will be considered distributions in anticipation of the contract failing and subject to taxation rules as a MEC.

9.2.3 Determination of Gain in the Contract on Post-Issue Distributions

9.2.3.1 Recapture Ceiling Test

If all of the following five conditions are met then all or a portion of a cash distribution from the policy would be considered a taxable event and a 1099 would need to be generated.

1. A change in the contract occurs that reduces future benefits under the contract;

2. The change occurs within 15 years of the original issue date;

3. Cash is distributed from the contract as a part of or consequence of the change;

4. The recapture ceiling, as defined in the statute, is exceeded; and

5. There is a gain in the contract, (the cash surrender value exceeds the policyholder's basis.)

The recapture ceiling is defined as follows:

In Policy Years 1-5;

1. Recapture Ceiling I for the CVAT test equals the cash surrender value immediately prior to the withdrawal less the net single premium for the new face amount immediately after the withdrawal (Face Amount after withdrawal / CVAT Corridor Factor). 2. Recapture Ceiling I for the GPT test equals the greater of (a) or (b), where; a. Equals the premiums paid under the contract minus the guideline limitation after the withdrawal; and b. Equals the cash surrender value immediately prior to the withdrawal minus the face amount immediately after the change divided by the applicable corridor percentage. (Note this is basically the same as the CNAT Recapture Ceiling I but uses the GPT corridor percentage.

In policy years 6-15, use the test in 2b from policy year 1-5 section is used for both CNAT and GPT tests. This would mean that for the CNAT test, the corridor that is used for this test are the factors used in the GPT test.

Example of the Recapture Ceiling Test - CNAT Test

Suppose the CNAT Corridor Factor was 4.0, and the GPT Corridor was 2.5

Basis = $1,500,000

Face Amount = 10,000,000

Cash Value = 2,500,000

Take a withdrawal of $1,000,000 in policy year 2 Reduce Face Amount to $9,000,000 , then

Recapture Ceiling = 2,500,000-2,250,000 = 250,000

Thus the first $250,000 of the distribution is considered gain and taxable. The excess of the recapture ceiling is $750,000 would be considered return of basis. A 1099 would be sent reporting the taxable distribution of $250,000.

9.2.3.2 Distributions from MEC Contracts

Any distribution, both withdrawals and policy loans, will be taxed on a LIFO basis. That means that distributions are first considered to be gains in the contract and then policyholder basis, h addition, distributions received prior to an insured's age 59 Vz will be subject to a 10% penalty tax. An exception to the penalty tax is made for distributions received as a lifetime annuity. Also, any distribution received within the two year prior to the year in which the policy becomes a MEC would be considered distribution in anticipation of the material change and subject to MEC tax treatment. A 1099 will be sent for any distribution that is considered a gain.

10 ORDER OF OPERATIONS

As pertains to the order of processing policy transactions, the product engine will follow the general philosophy of: Benefit changes

Money in

Money out

Move money around

At the processing date the following order of operations will apply:

1 Apply any premiums received net of sales loads to the account value at the end of the previous processing period.

2 Take out from this new account value any monthly policy fee and periodic charge based on per $1000 of coverage for the upcoming period.

Calculate and remove the M&E Charge for the upcoming period, using the account value resulting after #2 above.

Calculate and remove from the account value the COI charge based on the net amount at risk as defined in the COI Charge section. 6.4.3

Process and requests for Loans, Repayment of Loan or Loan Interest

Calculate the investment income for the period and add to the account value resulting from #5.

The result in #6 should be the end of period account value

10.1 POLICY TRANSACTIONS

In the case of multiple user-requested transactions in the same year, the product engine must process them in the following order:

• Death Benefit Option change

• Premium payment

• Loan repayment

• Withdrawal

• Loan

11 ROUNDING RULES

12 ADDENDUM FOR SURVIVORSHIP PRODUCT

12.1 SURVIVORSHIP MORTALITY NOTES

Please note the following items of relevance for the survivorship mortality rates.

1. There will be no Guaranteed Issue Classification allowed in this release.

2. Substandard table ratings are added the to appropriate life's current mortality before the fraiserization of the two lives takes place.

3. The uninsurable rating class will be allowed on one of the individual lives subject to underwriting approval and restraints. For the Uninsurable class, assume that the table rating multiple is 20 (ie 2000% of standard table) The ^Max _qs^ex _{= 9 ; up to the maX}qage of 99. Above 99 the ^Maxq^Sex = l .

4. For Current q, there will be an additional factor added to the result of the fraiserization of the underlying See the fraiserization formula in section 3.5.2. This is defined as the AC, = term, This rate will be defined in

Carrier Utility Table as a durational table and needs to vary based on the sum of the two insureds ages. a. For sum of the two ages <100, AC, = 0.00009 in all years

b. For sum of the two ages =>100, AC, = 0.00018 in all years

5. Permanent and Temporary Flat Extras will be applied to the Face Amount of the policy, but may be specifically assigned to an insured. For example, one of the insureds may have a rating of $1 per $1000. If the face amount is $1,000,000 then the annual extra would be $1000.

6. Minimum Issue Age is 20.

7. Three Fraiserized Mortality Tables will need to be calculated, current q, tax guar q, guar q . If tboth lives are standard then tax guar q should equal guar q-

8. The fraiserized mortality tables will have the duration of the youngest insured. Ie two insureds age 45 and 55. The table will counting back from

110 have 65 durations. Counting back from 100 it would have 55 durations.

Rounding rules for Fraiserized Rates:

For currO, we are using the single life curr q 's which have been rounded to 6 decimals going into the Fraiser Formula, the resulting fraiserized curr q is rounded nearest to 8 decimals per $1 of insurance.

For guar q , we round the fraiserized results to 8 decimals nearest per $1 of insurance. For tax guar q, we round to 8 decimals nearest per $1 of insurance.

12.2 SURVIVORSHIP CALCULATION NOTES 12.2.1 Duration and Joint Equal Age

The total number of policy durations will be based from the age of the younger insured. So in the single life formulas, the term x was used for issue age. For survivorship x will be set to the minimum age of the two lives.

This is not to be confused with the Joint Equal Age. Joint Equal Age is only used as an index for looking up table factors for the module calculations.

Rounding Rule for JEA Calc. Truncate to lower integer.

12.2.2 Module 1 - Matched Percent of Premium Compensation to Percent of Premium Load

This Module will define the percent of premium load factors for specified percent of premium based commissions. The user will have the option to enhance the early cash surrender values through the use of a giveback option that will refund a part of the loads upon full surrender during the early durations.

Module 1 will have the following user defined inputs CommTarget%M 1₁ = Annual percent of premium commission to be paid up to target premium for duration t

CommExcess%M 1₁ = Annual percent of premium commission to be paid in excess of target for duration t

CommExcessExcess%M 1₁ = Annual percent of premium commission to be paid in excess of eligible excess as defined in 6.3.3

Giveback Option = (Y/N)

Ml% = Percentage of Module 1 to be applied. Default should be 100%.

Module 1 will have the following Carrier Utility defined inputs:

The Carrier Setup Utility will specify the following factors and tables to be used in the module calculations.

COIMlMult_x , - • Carrier Utility defined table of COI Multiplicative factors for each age, sex, underwriting class and duration. For Survivorship one table will be used, lookup based on Joint Equal Age. COIMlAdd x,t Carrier Utility defined table of COI Additive factors for each age, sex, underwriting class and duration. For Survivorship one table will be used, lookup based on Joint Equal Age.

Add min — » Carrier Utility defined minimum additive COI amount, a global factor. Note this will be different for Single Life and Survivorship Addmin = .15 for single life and .25 for survivorship

Mult min — • Carrier Utility defined minimum multiplicative COI amount, a global factor. Note this will be the same for Single Life and Survivorship Multmin = 1.05 for single life and 1.05 for survivorship For Survivoship one table will be used, lookup based on Joint Equal Age.

GivebackFactor — > Carrier Utility defined factor to adjust give back ratio. Same for both Single and Survivorship

COIGivebackFactor — Carrier Utility defined factor to adjust give back ratio for COI. Same for both Single and Survivorship

PricingFactor— > Carrier Utility factor to add loads to percent of premium charges on top of commissions. Note this will be different for Single Life and Survivorship PricingFactor = Λfor single life and .2 for survivorship

MlMinTargetAdj -* Carrier Utility factor to specify minimum target adjustment for Module 1. Same for both Single and Survivorship MlPVRatel → Carrier Utility factor to specify PV Rate 1 Same for both Single and Survivorship MlPVrate2→ Carrier Utility factor to specify PV Rate 2 Same for both Single and Survivorship MINPVConst→ Carrier Utility factor to set minimum levels of charges. Note this will have a different value for Survivorship versus the Single Life Product. Currently, Single Life = .2 Survivorship will = .3

Mlmegivetable ,-> Carrier Utility Table to Define M&E Add-on. Used only for giveback option in this module. Same for both Single and Survivorship

Mlgivetable_t- Carrier Utility Table of Give back schedule Same for both Single and Survivorship

MlExpKtable_t→ Carrier Utility Table of Expense Per $1000 of Initial Face factors, used only for giveback option in this module. Note this will have a different value for Survivorship versus the Single Life Product. Currently, Single Life = .00 All durations Survivorship will — .01 duration 1-10, 0 years 11+ MlAgeFactor_x -> Carrier Utility defined attained age table of age adjustments for each underwriting class. Note this will have its own table for survivorship. The lookup will be based on the joint equal age.

New For Survivorship

AgeSpreadFactor - Of a factor for the age spread adjustment. (Currently set to (60rXX) for all carriers) This factor is also used in module 2 calcs, my impression is module 2 calcs come first in the order of operations so this needs to be taken into account.

Correction in 1.7 A make this factor = 60.

_AgeSpreadConstant- Factor for AgcSpreadAdj calculation, set = 1.1 for Version 1 JA

Then using the above factors the following Components are calculated:

New For Survivorship

■ If Survivorship then AgeSpreadAdj

If Single Life then AgeSpreadAdj = 1 Note: I issueagel-issueage2| = the Absolute value of the difference in ages.

CommT arg et%Ml

GivebackAdj If Giveback Option = Y 1 - GivebackFactor

0 If Giveback Option = N

M1NPV1

MIT arg etAdj = ma x BandlUserSpecifiedAmount%, MinMIT arg etAdj

M1NPV2

_ „_{τ τ} „, „, CommT arg et%ML ,_ft .

MlUptoT arg et% , = -, - Xr x Ml% min(l,l - PricingFactor)

_» „_{^ n}, CommExcess%ML _, ,,,„, _{(n ^ rΛrτ}, . ,

MlExcessT arg et% , = -, L_ _x Ml% x (2 - MIT arg etAdj), min(l,l - PricingFactor)

, „_τ- _{^ n}, CommExcessExcess%ML ,_Λ , ,,,„ ₄ ._Λ

MlExcessExcess%, = -, r^ x {2 - MIT arg etAdj) Note removed min(l,l - Pr icingFactor) the Ml%) multiplier from this formula.

MlFlag = 1 If ∑ CommT arg et%Ml, x Ml% - 0

1

= 0 Otherwise ≥, CommTarget%Ml_t x Ml% _{mm τ}„ „-„„, _ΛΛ^'

M1NPV1 = max > _J ^l— , max(MlNPVConst - PV1T arg et,θ) w (l + MlPVRatel)'^"1 _un.™™ _Λ* r ¹ CommT arg et%Ml, x Ml % . ,.,„- .„ , _^ -ι

MlNPV2 = Maxl > _; - X—. ,MlNPVConstant tt (l + MlPVRate2)^{t_l J}

M1NPV1

MIT arg etAdj = max x BandlUserSpecιfiedAmount%, MinMIT arg etAdj

_.M1NPV2 {see Section 63 1 3 for definition of Bandl UserSpecιfiedAmount%}

Rounding Rule: Round Target Nearest to 4 decimal places

Mladd, = [(COIMlAdd, - Addmin) + COIGivebackFactor x GιvebackAdj]x MlAgefactor. x MlTargetAdj + Addmin

Mlmult, = ((COIMlMult, _t - Mult min) + COIGivebackFactor x GivebackAdj) x MlAgeFactor_^ x MlFlag x MIT arg etAdj + Mult mm

Mime, = (Mlmegivetable, x GivebackAdj)

Mlsurr, = (Mlgivetable, x GivebackAdj)

DurExpKBandAdj = Min[2 - BandlUserSpecifιed%,l .5]

M1NPV1 _{f 50} _ „ . , — — — -x MlAgeFacto r_JEA x MlTargetAd j

MlExpK , = MlExpKtabl e, Max ^— ^=^- DurEm Ban dAdi.O + MtExpKTabl e, x ^M1NPV2

I. 30 ^{F J} J ^v ' AgeSpreadA j

Note the MlExpKwas not used in the Single Life Product, the formula is new for survivorship

12.2.3 Module 2 - Unmatched Compensation to Load Module

This Module will define the load factors to recoup percent of premium based commissions that are to be applied primarily to cost of insurance, M&E, Monthly peπodic charges. The user will have the option to improve long term performance by adding in a surrender charge to provide for cost recovery due upon eaτly surrender.

Module 2 will have the following user defined inputs:

CommTarget%M2₁ = Annual Commission to be paid up to target premium for duration t CommExcess%M2 , = Annual Commission to be paid in excess of target for duration t Surrender Charge Option = (Y/N) M2% = Percentage of Module 2 to be applied. Default should be 100% Module 2 will have the following Carrier Utility defined inputs:

M2PVRatel • First Interest Rate to Take PV of Commission Stream2 Same for both Single and Survivorship

M2PVRate2→ Second Interest Rate to Take PV of Commission Stream 2 Same for both Single and Survivorship

M2SurrFactor- Factor to be applied when surrender charge option chosen Same for both Single and Survivorship

M2NoSurrFactor - Factor to be applied when surrender charge option is NOT chosen Same for both Single and Survivorship

M2AgeFactor_x -» Carrier Utility defined attained age table of age adjustments for each underwriting class. Note this will have its own table for survivorship. The lookup will be based on the joint equal age.

M2ExpKFactor_x Carrier Utility defined attained age table of Expense per $1000 of Face for each issue age and each underwriting class. Note this will have its own table for survivorship. The lookup will be based on the joint equal age.

M2ExcessFactor_x-> Carrier Utility defined factor for Excess M&E component. Same component for all underwriting classes. Note this will have its own table for survivorship. The lookup will be based on the joint equal age.

M2Band2Factor→ Carrier Utility defined scalar factor for Band 2 Adjustment, Note this will have a different value for Survivorship versus the Single Life Product Currently, Single Life = .5 Survivorship will = 1

M2SurrTable _t→ Carrier Utility defined table of surrender charges percentages Same for both Single and Survivorship

(Note this may be and age and duration table due to nonforfeiture compliance.)

M2DurFactor _t→ Durational Adjustment Factor For COI Loadings for Module 2 Note this will have its own table for single life and one for survivorship. It is a durational table.

M2ExpKDur _t-» Durational Adjustment Factor For Per 1000 Face loadings for Module 2. Note this will have its own table for single life and one for survivorship. It is a durational table. rrender Charge Option a different table applies. COIM2Mult_x?t Carrier Utility defined table of COI Multiplicative factors for each age, underwriting class and duration. For Survivorship one table will be used, lookup based on Joint Equal Age.

COIM2Add_Xιt → Carrier Utility defined table of COI Additive factors for each age, underwriting class and duration. For Survivorship one table will be used, lookup based on Joint Equal Age.

M2metable _t — > Carrier Utility Table to Define M&E Add-on for Module 2 Same for both Single and Survivorship

M2SurrMETable _t→ Carrier Utility defined table of surrender charges M&E add-on , Same for both Single and Survivorship

NPVlAdjFactor→ Carrier Utility Adjustment Factor for NPV1 , Note this will have a different value for Survivorship versus the Single Life Product Currently, Single Life = 1 Survivorship = 3

NPV 1 Adj FactorExcess -> Carrier Utility Adjustment Factor for NPV1 Excess, Same for both Single and Survivorship NPV2AdjFactor→ Carrier Utility Adjustment Factor for NPV2, Note this will have a different value for Survivorship versus the Single Life Product Currently, Single Life = 1 Survivorship =3

NPV2AdjFactorExcess -» Carrier Utility Adjustment Factor for NPV2 Excess, Same for both Single and Survivorship TaxAdj — » Carrier Utility Adjustment for Amortized Premium and DAC tax, Same for both Single and Survivorship New For Survivorship

AgeSpreadFactor→ Of a factor for the age spread adjustment. (Currently set to

(60A-rl for all carriers) This factor is also used in module 2 calcs, my impression is module 2 calcs come first in the order of operations so this needs to be taken into account. Correction in 1.7A make this factor = 60.

_ΛgeSpreadConstant— >■ Factor for AgeSpreadAdj calculation, set = 1.1 for Version 1 JA

M2ExpKSurvConstant → Factor survivorship adjustment (Currently set to 1.25 for all carriers.)

M2PVlSurvFactor- Factor survivorship adjustment for PV ITarget to be set for Single Life = 1 for Survivorship = .7 for all carriers Then using the above factors the following Components are calculated:

New For Survivorship

. 1 issueagel - issueage21

If Survivorship then AgeSpreadAdj = ^{s p}

AgeSpeadCo ns tan t If Single Life then AgeSpreadAdj = 1 Note: I issueagel -issueage2| = the Absolute value of the difference in ages.

M2TaxTarget, = max( PremTax*(l-PremTaxBandlFlag_t)+DACTax*(l-DACTaxBandlFlag -TaxAdj.O)

M2TaxExcess , = max ( PremTax*(l-PremTaxBand2Flag,)+DACTax*(l-DACTaxBand2Flag_t)- TaxAdj.O)

If Surrender Option = N, then; _{mΛ π ♦ ♦} ¹ CommT arg et%M2, x M2% + M2TaxT arg et, . „.. _ . _t

NPVltar et = > — -. - , ^— ^l- x M2NoSurrfactor tt (l + M2PVRatel)'

._mχ_r, ^CornmExcess%M2,χM2% + M2TaxExcess, ,„ _τ _ _ _Λ

NPNlexcess = > -. - r; ^L x M2ΝoSurrfactor tt (l + M2PVRatel)^t

NPN2target = f ommT arg et%M2, x M2% ₊ M2TaxTar_get, _{χ M2Νo actor} i (l + M2PVRate2)^t_1

,_mTM ^CornmExcess%M2xM2% + M2TaxExcess_t ,,... _ . _A

NPV2excess= > -. r— ; x M2NoSurrfactor ti (l + M2PVRate2)^t_1

If Surrender Option = Y, then;

,_m, , CommTarget%M2,xM2% + M2TaxTarget, ..._ . .

NPVltarget = > — -. - r: ^≥— - - M2Surrfactor tt (l + M2PVRatel)^t

^_π v,CommExcess%M2, M2% + M2TaxExcess_t .-__ . _Λ NPVlexcess = > -. , x M2Surrfactor tt (l + M2PVRatel)' _{xTTvt /} . _{* ^} CommT arg et%M2, x M2% + M2TaxT arg et, . .„ _c

NPV2target = V ≡—. ^x- — ≥— ^l- x M2Surrfactor

^"' tt (l + M2PVRate2)^t_1 _{ττvι r} ^ CommExcess%M2, ^χ M2% + M2TaxExcess_t . „_ ,

NPV2excess = Y ; * ;— ^L M2Surrfactor tt (l + M2PVRate2)'^"' then, use the factors calculated above to generate the component loads;

The following adjustment is made to the above factors to account for the effect of setting the User Specified Target Premium Percentage below 100%. See Section 6.3.1 for definition of BandlUser Specified Percent.

(Note while the formula did not change the NPV2AdjFactor is different for single life and Survivorship. This also applies for NPVlAdjFactor in the PV1 Target Formula.)

If PVltarget=0, set PV2target=l

PVlexcess = NPVlexcess x f 1 ₊ d - andlUserSpecifiedPercent ^

I NPVlAdjFactorExcess

^f (1 - BandlUserSpecifiedPercent '

PV2excess = NPV2excessx

V NPV2AdjFactorExcess

IfPVlexcess=0, set PV2excess=l

If PVltarget = 0 and PVlexcess = 0 then M2Dur =1 else M2Dur=M2DurFactor_t

M2mult₁ = [ [(cOIM2Mult_{x t} - Multmin)x ( PVlt arget)² ₊ (PVlexcessY- )_x M2AgeFactor_x ]+ Mult min ]x M2Dur ' ^{l l x,t} ' PV2t ar et PV2excess

M2add, = [ [(C0IM2Add_x ^' ₁ - Addmin)x ( (^{pvit ar}S^et)² ₊ (PVlexcess ^v _geFactor ]+ Addmin ]xM2Dur

' ^{L ι} ' PV2target PV2excess ' ^{J J}

M2ExcessAdj= M2ExcessFactor_x x Band2UserSpecified% + (l - Band2UserSpecified%)x M2Band2Factor (Note while the formula did not change the M2Band2Factor is different for single life and Survivorship.)

(M₂meta_ble_t)_x[ ^(PVltar8^et>² _{χ M2A} ⁽P^Vlexcess⁾² _{χ M2EχceggA<j} j

M2me, = PV2targ -et PV2excess ^J + _M,2„Surr .M ._E„Ta ,b.le_t

AgeSpreadAdj M2ExpKCalq = (M2ExpKFacfcr, )x ^PVltarge _x M2AgeFacta_{x +} (^PVlexces9 _x 2ExcessAd ^χM2ExpKDur

PV2target " PV2excess

Note: Just added a temporary variable name to get calc to next step for survivorship For Survivorship multiply M2ExpK by M2ExpKSurvAdj

If Survivoship then

If Single Life then M2ExρKSurvAdj = 1

Finally then M2ExpK , = M2ExpKCalc , x M2ExpKSurv Adj

If Surrender Option = Y, then

else, M2Surr, = 0 12.3 ADJUSTMENT TO TAX LOAD FORMULAS FOR SURVIVORSHIP PRODUCT

This is to replace the section 5.4 parts relating to this calc. I have put it here because I want to discuss with Robert. This has no impact on admin system.

Note that we want to make this change to the single life product as well but Robert needs to test the regression to see how much gets effected.

If duration t=l then DurBandAdj_x = 1

If duration t>l then DurBandAdj, = Min[2 - Band\UserSpecifιed%,\ .5]

Percent of Premium Sales Loads

UptoT arg et%, = MlUptoT arg et%, + TaxLoadT arg et%, + FlatLoad%

Band2Taιget%, = MlExcessTarget%_t + TαxLoαdBαnd2%_l x DurBαndAdj_t + FlαtLoαd%

Excess%_t = MlExcessExcessVo, + TαxLoαd%x DurBαndAdj + FlαtLoαd% Rounding Rule Round these Nearest to 4 decimal places or .00% APPENDIX C

Exemplary Inputs For Product

Definition Calculation

tblAC LS

C5

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CΛ

H U α.

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tblFunds

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tbl 1C0I ult_JLS

Duration o I J I ² I 3 I « I 5 | 6 I 7 | » I ,9 | .dJ0 i.!| 4.1 I 12 | .13 I Λ 4 , | td^β -l -16 | . 17. | 18. | 19 1 .20 | 21 | 22< >3fe

1 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5¹ 1.5' 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

2 1.5 1.5 1.5 1.5 1.5 1.5 1.515 1.53 1.545 1.56 1.575 1.59 1.605 1.62 1.635 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.65

3 1.5 1.5 1.5 1.5 1.5 1.5 1.525 1.55 1.575 1.6 1.625 1.65 1.675 1.7 1.725 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75

4 1.5 1.5 1.5 1.5 1.5 1.5 1.525 1.55 1.575 1.6 1.625 1.65 1.675 1.7 1.725 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75

5 1.5 1.5 1.5 1.5 1.5 1.5 1.525 1.55 1.575 1.6 1.625 1.65 1.675 1.7 1.725 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75

6 1.5 1.5 1.5 1.5 1.5 1.5 1.525 1.55 1.575 1.6 1.625 1.65 1.675 1.7 1.725 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75

7 1.5 1.5 1.5 1.5 1.5' 1.5; 1.525 1.55 1.575 1.6 1.625 1.65 1.675 1.7 1.725 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1 5 1.75

8 1.5 1.5 1.5 1.5! 1.5 1.5 1.525 1.55 1.575 1.6 1.625 1.65 1.675 1.7 1.725 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75

9 1.5 1.5 1.5 1.5 1.5 1.5! 1.525 1.55 1.575 1.6, 1.625 1.65 1.675 1.7 1.725 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75

10 1.5 1.5 1.5 1.5 1.5 1.5; 1.525' 1.55 1.575 1.6 1.625^' 1.65 1.675 1.7 1.725 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75

11 1.5 1.5 1.5 1.5 1.5^' 1.5' 1.515 1.53 1.545 1.56 1.575 1.59 1.605 1.62 1.635 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.65

12 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

13 1.5 1.5 1.5 1.5 1.5 1.5 1.49 1.48 1.47 1.46 1.45 1.44 1.43 1.42 1.41 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4

14 1.5 1.5 1.5 1.5 ^" 1.5 1.5 1.48 1.46 1.44 1.42 1 -⁴. 1.38 1.36 1.34 1.32 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3

15 1.5 1.5 1.5 1.5 1.5 1.5 1.47 1.44 1.41 1.38 1.35 1.32 1.29 1.26 1.23 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2

16 1.5 1.5 1.5 1.5 1.5 1.5 1.47 1.44 1.41 1.38 1.35' 1.32 1.29 1.26 1.23 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2

17 1.5 1.5 1.5 1.5 1.5 1.5 1.47 1.44 1.41 1.38 1.35' 1.32 1.29 1.26 1.23 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2

18 1.4 1.4 1.4 1.4 1.4 1.4 1.38 1.36 1.34 1.32 1.3 1.28 1.26 1.24 1.22 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2

19 1 2ι 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2; 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2

20 1.1 ^' 1.l i ι.ι; 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1

21 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

22 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

23 1.051 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

24 1.05^! 1.05; 1.05 1.05 1.05 1.05 1.05 1.05, 1.05^' 1.05: 1.05! 1.05 1.05 1.05 1.05_, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

25 1.05, Los; 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05^; 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

26 1.05 1.05| 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

27 1.05 1.05 1.05¹ 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05J 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

28 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.051 1.05 1.05 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

29 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

30 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05; 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

31 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05^: 1.05Ϊ 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

32 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05; 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

33 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05; 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

34 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 . 1.05^* 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

35 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05

36 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

CO

α>

o

tblM2C0IAdd JLS

Duration | • I 1 2 I 3 4 I ⁵ 1 ⁶ 1 7

⁸ ! 9 l * 1 12 13 | 14 | ,16 ^' 16 ^!| ^■17 1 181 • 191 201 21 | 22 23, 24^

1 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5

2 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5

3 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5

4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5

5 0.5 0.5 0.5 0.5 0.5: 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5

6 0.4 0.4 0.4 0.4 0.4J 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4

7 0.3 0.3 0.3 0.3 0.3! 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3

B 0.25 0.25 0.25 0.25: 0.25^: 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0-25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

9 0.25 0.25 0.25 0.25 0.25 0.25, 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

10 0.25 0.25 0.25 0.25 0.25 0.25¹ 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 025 0.25 025 0.25 0.25 025 0.25 0.25 025

11 0.25 0.25 0.25 0.25 0.25 0.2S 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

12 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

13 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

14 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25. 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

15 0.25 0.25 0.25 0.25 025 0.25 0.25 0.25 0-25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

Ul 16 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

17 0.25 0.25 0.25 0.25 025 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

18 0.25 0.25 0.25 0.25 025 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

19 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25' 0.25 0.251 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

20 0.25 0.25 0.25 0.25 0.25 0.25 0.25' 0.25 0.25^; 0.25 0.25| 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

21 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25; 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 025 0.25

22 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

23 0.25' 0.25' 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25' 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25: 0.25 0.25; 0.25 0.25 0.25 0.25 025 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

26 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25, 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

27 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

28 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0 5 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

29 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 025 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

30 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 025 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

31 0.25 0.25 0.25 025 025 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

32 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

33 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

34 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25/ 0.25 0.25 0.25 0.25 025 0.25 0.25 0.25 0.25 025 025

35 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 025 0.25

36 0.25 0.25 0.25 025 0.25 0.25 0.25 025 0.25 0.25 0.25 0.25 0.25 0.25 0.25 025 0.25 0.25 025 0.25 0.25 025 025 025 025

tblM2C0I ult_JLS

CO

υ en u. oo co Φ υ

LU CM

CO o rt L -«. a.

LU CM J

CO

CO α.

LU CM

tbl 2lssuθLoad_JLS

tbIPrθModθ

tblTablβList

tbl_01_bGlobaiME

tbl_01 _M1 AAF_STD_M_N_P_U

tbl_01_M1COI_ADD_F_N_P_U

Duration | o I 1 I 2 I 3 I 4 I 5 I 6 1 7 |. •' β.., | ,9 | ,10: -"" I 12 1 13 | 14 | 15 | 16 | 17 I 18 | 19 | 20 I ^"21 | 22, ,

1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.32 0.34 0.36 0.38 0.4 0.42 0.44

2 0.3 0.3 0.3 0.3 0.3 0.3 0 295 0.29 0.285 0.28 0.275 0.27 0.265 0.26 0.255 0.25 0.265 0.28 0.295 0.31 0.325 0.34 0.355

3 0.3 0.3 0.3 0.3 0.3 0.3 0.29 0.28 0.27 0.26 0.25 0.24 0.23 0.22 0.21 0.2 0.21 0.22 0.23 0.24 0.25 0.26 0.27

4 0.25 0.25 0.25 0.25 0.25 0.25 0.24 0.23 0.22 0.21 0.2 0.19 0.18 0.17 0.16 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

5 0.2 0.2 02 0.2 0.2^! 0.2 0.195 0.19 0.185 0.18 0.175 0.17 0.165 0.16 0.155 0.15 0.16 0.17 0.18 0.19 02. 0.21 0.22

6 0.15 0.15 0.15 0.15^: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

7 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

8 0.15 0.15 0.15 0.15j 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

9 0.15 0.15 0.15 0.15! 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

10 0.15 0.15 0.15 0.15! 0.15 0.15^; 0.15 0.15¹ 0.15 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

11 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

12 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

13 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

14 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

16 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

17 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15; 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

18 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.1 δ! 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

19 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

20 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15¹ 0.15 0.15 0.15 0.15 0.15. 0.16 0.17 0.18 0.19 0.2 0.21 0.22

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15^ 0.15, 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0 15 0.15 0 15 0 15 0 15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0 15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15

76 0.15 0.15 0.15 0 15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0 15

tbl_01 _M1 COI_ADD_F_N_S_U

tbl_01_M1COI_ADD F N_X G

Duration | o I I I 3 4 I 5 I 6 I 7 | β | 9 |, IO..|.. II |, . 2 1 13 | .14 | 15 1 16 1 17 1 18 ] 19 | 20 ! 21 1 2J ai

1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.32 0.34 0.36 0.38 0.4 0.42 0.44

2 0.3 0.3 0.3 0.3 0.3 0.3 0.295 0.29 0.285 0.28 0.275 0.27 0.265 0.26 0.255 0.25 0.265 0.28 0.295 0.31 0.325 0.34 0.355

3 0.3 0.3 0.3 0.3 0.3 0.3 0.29 0.28 0.27 0.26 0.25 0.24 0.23 0.22 0.21 0.2 0.21 0.22 0.23 0.24 0.25 0.26 0.27

4 0.25 0.25 0.25 0.25, 0.25; 0.25 0.24 0.23 0.22 0.21 0.2 0.19 0.18 0.17 0.16 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

5 0.2 0.2 0.2 0.2 0.2; 0.2 0.195 0.19 0.185 0.18 0.175 0.17 0.165 0.16 0.155 0.15 0.16 0.17 0.18 0.19 0.2 0.21. 0.22

6 0.15 0.15 0.15 0.15 0.15^; 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

7 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

8 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

9 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0,2 0.21 0.22

10 0.15 0.15 0.15 0.15^; 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

11 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

12 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

13 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

14 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

16 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

17 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

18 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

19 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

20 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 021 0.22

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0 15 0 15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 .0.15 ,0-15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15

36 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

tbl_01_M1COLADD_F_S_S_U

tbl_01 _M1 COI_ADD_F_S_X_G

Duration | o I 1 I I 3 4 I 5 I 6 I 7 | 8 I 10. 1 . «. | 12 | 13 | 14. | 1 .15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 ⁹.15 I 5 | 16 | 17 | 18 | 19 | 20 | 21 | ,.22_n-«

18 0.15 0 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

19 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

20 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

1 0.3 0.3 0.3 0.3 0.3' 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.32 0.34 0.36 0.38 0.4 0.42 0.44

2 0.3 0.3 0.3 0.3 0.3: 0.3 0.295 0.29 0.285 0.28 0.275 0.27 0.265 0.26 0.255 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425

3 0.3 0.3 0.3 0.3 0.3 0.3 0.29 0.28 0.27 0.26 0.25 0.24 0.23 0.22 0.21 0.2 0.23 0.26 0.29 0.32 0.35 0.38 0.41

4 0.25 0.25 0.25 0.25 0.25, 0.25 0.24 0.23 0.22 0.21 0.2 0.19 0.18 0.17 0.16 0.15 0.185 0.22 0.255 0.29 0.325 0.36 0.395

5 0.2 0.2 0.2 0.2 0.2 0.2 0.195 0.19 0.185 0.18 0.175 0.17 0.165 0.16 0.155 0.15 0.185 0.22 0.255 0.29 0.325 0.36 0.395

6 0.15 0.15 0.15 0.15 0.15 0.15! 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.175 0.2 0.225 0.25 0.275 0.3 0.325

7 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

8 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.155 0.16 0.165 0.17 0.175 0.18 0.185

9 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

10 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

11 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

~4 12 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

Ul

13 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

14 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

16 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

17 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 . 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

36 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0 15 0 15|

tbl_01 Jv/I 1 COI_ADD_M_N P_U

Duration | o 1 1 I 2 I I 4 I 5 I 6 I I β * | 8 I 10 1 .ιι | 12 | 13. | 14 | 15 | - 16 | I 18 | 19 | 20 I 21 | 22,

1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 03 03 0.3 0.3 0.3 0.3 0.32 0.34 036 0.38 0.4 0.42 0.44

2 0.3 0.3 0.3 0.3 0.3 0.3 0.295 0.29 0.285 0.28 0.275 0.27 0.265 0.26 0.255 0.25 0.265 0.28 0295 0.31 0.325 0.34 0.355

3 0.3 0.3 03 0.3 0.3 0.3 0.29 0.28 0.27 0.26 025 024 0 23 022 0 21 0.2 0 21 022 023 024 0.25 0.26 0.27

4 0.25 0 5 0.25 0.25 0.25, 0.25 0.24 0.23 0.22 0.21 0.2 019 0.18 0.17 0.16 0.15 0.16 0.17 0.18 0.19 0.2, 0.21 0.22

5 0.2 0.2 0.2 0.2, 0.2, 0.2 0.195 0.19 0.185 0.18 0.175 0.17 0.165 0.16 0.155 0.15 0.16 0.17 0.18 0.19 0.2', 0.21 0.22

6 0.15 0.15 0.15 0.15 0.151 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 051 0.22

7 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 015 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21' 0.22

8 0.15 0.15 0.15 0.15. 0.15 0.15; 0.15 0.15 0.15 0.15 0.15 015 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

9 0.15 0.15 0.15 0.15 0.15 0.15] 0.15 0.15 0.15 0.15 0.15 0 15 0 15 0 15 0 15 0 15 0 16 0 17 0.18 0 19 0 2 021. 0.22

10 0.15 0.15 0.15 0.15 0.15 0.15) 015 0.15 0.15 0.15 0.15 015 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

11 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

12 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

13 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 16 0.17 018 0.19 02 0.21 0.22

14 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

16 0 15 0 15 0 15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

17 0,15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0 15 0 15 0 15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

18 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

19 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

20 0 15 0.15 0 15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22

21 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15, 0.15 0.15 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 ms 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0 15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0 15 0.15 0.15 0.15 015 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0 15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15 0.15 0.15 015 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0 15 015 0 15

30 0.15 0 15 0 15 0.A5 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0 15 0 15 0 15

31 0.15 0.15 0.15 0.15 0,15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0 15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

32 0.15 0 15 0.15 0.15 0 15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0 15 0 15 0 15 0 15 0 15

33 0.15 0.15 0.15 0.15 0 15 0.15 0 15 0 15 0.15 0.15 0.15 C.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0 15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0 15 0.15 0 15 0 15 0 15 0 15 0.15 0 15 0.15 0.15 0 15

35 0.15 0.15 0 15 0 15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0 15 0 15 0 15 0 15

36 0 15 0 15 0 15 0.15 0.15 0.15 0.15 0 15 0 15 0.15 0.15 0.15 0 15 0.15 0.15 0 15 0 15 0 15 0.15 0 15 0 15 0.15 0.15

tbl_01_M1COI ADD N_S_U

Duration | 1 i 1 2 I 3 « I 5 I 6 I | 8 I 9 | ,10 {,11 1 - 12 | 1 | . 14 | .15 | 16 I 17 | 18 | 19 I 20 I 21 | ^■■ 22i,u

1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.32 0.34 0.36 0.38 0.4 0.42 0.44

2 0.3 0.3 0.3 0.3 0.3 0.3 0.295 0.29 0.285 0.28 0.275 0.27 0.265 0.26 0.255 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425

3 0.3 0.3 0.3 0.3 0.3 0.3 0.29 0.28 0.27 0.26 0.25 0.24 0.23 0.22 0.21 0.2 0.23 0.26 0.29 0.32 0.35 0.38 0.41

4 0.25 0.25 0.25 0.25 0.25! 0.25 0.24 0.23 0.22 0.21 0.2 0.19 0.18 0.17 0.16 0.15 0.185 0.22 0.255 0.29 0.325 0.36 0.395

5 0.2 0.2 0.2 0.2 02, 0.2 0.195 0.19 0.185 0.18 0.175 0.17 0.165 0.16 0.155 0.15 0.185 0.22 0.255 0.29 0.325: 0.36 0.395

6 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.175 0.2 0.225 0.25 0.275 03, 0.325

7 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 Q.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

8 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.155 0.16 0.165 0.17 0.175 0 18 0 185

9 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

10 0.15 0.15 0.15 0.15 0-15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

11 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

12 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

13 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

14 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

16 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

17 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

18 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15; 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15

19 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

20 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0-15 0.15 0.15 0.15 0.15 0.15

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0 15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15^! 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0 15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 • 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

35 0 15 0 15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15

36 0.15 0 15 0 15 0 15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0 15 0.15 0 15 0 15 0.15 0 15

tbl_01_M1 COLADD_M_N_X_G

Duration | ° I 1 1 2 I 3 I | 5 I ⁶ I 7 | ; β | , 9 . | 10 | , 11 | 12 | , 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 1 I 22. | 23*

1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.32 0.34 0.36 0.38 0.4 0.42 0.44 0.46

2 0.2 0.2 0.2 0.2 0-2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.22 0.24 0.26 0.28 0.3 0.32 0.34 0.36

3 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255 0.27

4 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

5 0.15 0.15 0.15 0.1& 0.15J 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21] 0.22 0.23

6 0.15 0.15 0.15 0.15, 0.15: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 ; 0.22 0.23

7 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

8 0.15 0.15 0.15 0.15! 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

9 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21. 0.22 0.23

10 0.15 0.15 0.15 0.15 0.15 0.15^: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

11 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15^: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

12 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15: 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

13 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0,22 0.23

14 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15: 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 022 0.23

16 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

17 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

18 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15; 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

19 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15! 0.15^* 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

20 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15J 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15^; 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15; 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

36 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

tbl_01 _M1 COI_ADD_M_S_X_G

Duration | ° I i 1 2 I 3 I I 5 I 6 I 7 | 8 I » I 10 | 11 1 12 | 1 | 14 | 15 { 16 | 17 | 18 | 19. | 20 | 21 |

1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0 3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3

2 0.3 0.3 0.3 0.3 0.3 0.3 0.295 0.29 0.285 0.28 0.275 0.27 0.265 0.26 0.255 0.25 0.255 0.26 0.265 0.27 0.275 0.28 0.285

3 0.3 0.3 0.3 0.3 0.3 0.3 0.29 0.28 0.27 0.26 0.25 0.24 0.23 0.22 0.21 0.2 0.21 0.22 0.23 0.24 0.25 026 0.27

4 0.25 0.25 0.25 0.25 0.25 0.25 0.24 0.23 0.22 0.21 0.2 0.19 0.18 0.17 0.16 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

5 0.2 0.2 0.2 0.2 0.2 0.2 0.195 0.19 0.185 0.18 0.175 0.17 0.165 0.16 0.155 0.15 0.165 0.18 0.195 0.21 0.225, 0.24 0.255

6 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

7 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 024 0.255

8 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

9 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

10 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

11 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

12 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

13 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

14 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

16 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

17 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

18 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

19 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

20 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.165 0.18 0.195 0.21 0.225 0.24 0.255

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

36 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

tbl_01_M1 COI_ LT_F_N_P_U

Duration | o 1 ¹ I 2 I 3 I 4 1 ⁵ I 6 I 7 | ³ I » I 10 .| .ιr| 12 1 13 | u l 15 | 16 1 17 | 18 1 .19 1 20 | 2 1 22 1 23

1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

2 1.5 1 5 1.5 1.5 1.5 1 5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.545 1.59 1.635 1.68 1.725 1.77 1.815 1.86

3 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.54 1.58 1.62 1.66 1.7 1.74 1.78 1.82

4 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.535 1.57 1.605 1.64 1.675 1.71 1.745 1.78

5 1.5 1.5 1.5 1.5 1.5| 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.53 1.56 1.59 1.62 1.65, 1.68 1.71 1.74

6 1.5 1.5 1.5 1.5 1.5' 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.525 1.55 1.575 1.6 1.625 1.65' 1.675 1.7

7 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.52 1.54 1.56 1.58 1.6 1.62 1.64 1.66

8 1.5 1.5 1.5 1.5! 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.515 1.53 1.545 1.56 1.575 1.59 1.605 1.62

9 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1 5 1.5 1.5 1.5 1.5 1.5 1.5 1.51 1.52 1.53 1.54 1.55 1.56 1.57 1.58

10 1.5 1.5 1.5 1.5i 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.505 1.51 1.515 1.52 1.525 1.53 1.535 1.54

11 1 5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

12 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45

13 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4

14 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35

15 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 3, 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3

16 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25; 1.25^' 1.25 1.25 1.25 1 -25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25

17 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2' 1.2 1.2 1.2 1.2 1 2 1.2 1.2 1 2 1.2 1.2 1.2 1.2 1.2 1.2 1.2

18 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15

19 1.1 1.1 1.1 1.1 1 1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1

20 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

21 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

22 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

23 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1-05 1.05 1.05 1.05 1.05

24 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05. 1.05 1.05 1.05! 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1 05

25 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05 1.05. 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05

31 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05- 1.05 1.05^' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

32 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

33 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

34 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05

35 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05* 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

36 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

37 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1 05

38 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

39 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1 05 1.05 1.05 1.05 1.05 1.05 1 05

40 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1 05

41 1 05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1 05 1 05 1 05|

tbl_01 _M1 COI_MLT_F_N_S_U

Duration I o I i 1 I 3 4 | 5 I 6 I 7 | 8 I ^<-M _10,:| *11ι.l •12.1 _f13-| 14- 1 ..IB 1 16«;i| 17 | 18 I 19 1 20 I 21 22. 2&

1 2 2 2 2 2 2 2 2 2 2 2' 2' 2 2 2 2 2 2 2 2 2 2 2 2

2 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.545 1.59 1.635 1.68 1.725 1.77 1.815 1.86

3 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.54 1.58 1.62 1.66 1.7 1.74 1.78 1.82

4 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.535 1.57 1.605 1.64 1.675 1.71 1.745 1.78

5 1.5 1.5 1.5 1.5, 1.5i 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.53 1.56 1.59 1.62 1.65 1.68 1.71 1.74

6 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.525 1.55 1.575 1.6 1.625 1.65 1.675 1.7

7 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.52 1.54 1.56 1.58 1.6 1.62 1.64 1.66

8 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.515 1.53 1.545 1.56 1.575 1.59 1.605 1.62

9 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.51 1.52 1.53 1.54 1.55 1.56 1.57 1.58

10 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.505 1.51 1.515 1.52 1.525 1.53 1.535 1.54

11 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

12 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45

13 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4

14 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35

15 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3^' 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3

16 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25, 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25

17 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2¹ 1.2. 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2

18 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15. 1.15: 1.15' 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15

19 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 i i ; 1.1 1.1 ! 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1

20 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

21 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05! 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

22 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05^* 1.05^! 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

23 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

24 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

25 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

26 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

27 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

28 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

29 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

30 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

31 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

32 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1 05

33 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

34 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05^* 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

35 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

36 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05

tbl_01 _M1 COI_MLT_F_N_X_G

tbl_01_M1 COI_MLT_F_S_S_U

tbl_0 l_M1COI_W ILT_F _s_x. _G

Duration | o I 1 1 2 I 3 I 4 I 5 I ⁶ 1 7 I 8 I 9 I 10 | 11 I 2 | 13 1 1 | is | 16 | 17 | 18 1 19 | 20 | 21 1 22 -' | ^v23"

1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

2 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.545 1.59 1.635 1.68 1.725 1.77 1.815 1.86

3 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.54 1.58 1.62 1.66 1.7 1.74 1.78 1.82

4 1.5 1.5 1.5 1.5 1.5, 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.535 1.57 1.605 1.64 1.675 1.71 1.745 1.78

5 1.5 1.5 1.5 1.5, 1.5I 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.53 1.56 1.59 1.62 1.65 1.68! 1.71 1.74

6 1.5 1.5 1.5 1.5' 1.5¹ 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.525 1.55 1.575 1.6 1.625 1.65 1.675 1.7

7 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.52 1.54 1.56 1.58 1.6 1.62 1.64 1.66

8 1.5 1.5 1.5 1.5'. 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.515 1.53 1.545 1.56 1.575 1.59 1.605 1.62

9 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.51 1.52 1.53 1.54 1.55 1.56 1.57 1.58

10 1.5 1.5 1.5 1.5' 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.505 1.51 1.515 1.52 1.525 1.53 1.535 1.54

11 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

12 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1 45 1.45

13 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4

14 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1 35 1.35

15 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3

16 1 25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1 25 1.25

17 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2

18 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15, 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15

19 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1¹ 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1

20 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

21 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05! 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

22 1.05 1.05^' 1.05 1.05 1.05 1.05 1.05 1.05, 1.05, 1.05^! 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

23 1.05 1.05 1.05 1.05 1.05 1.05 1.05; 1 05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

24 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05

25 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

26 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

27 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

28 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

29 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

30 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

31 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

32 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05

33 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1 05

34 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

35 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1 05 1.05

36 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05

tbL01_M1 COI_MLT_M_N_P_U

tbl_01_M1COI_MLT_M_N_S_U

tbl_01_M1COLMLT_M N X G

tbl_01_M1COI_MLT_M_S_S_U

Duration I 0 . I 2 I 3 I I 5 I 6 I * I ^β I -•^■•-I pio.l iΛ ϋ •fit A ,.13: 1 14 I 15 | S I . 17 | 18 1 ,1 . | 20 1 21 1 22 .| c£3*

1 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75' 1.75 1.75 1.75 1.75 1.75 1.745 1.74 1.735 1.73 1.725 1.72 1.715 1.71

2 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.515 1.53 1.545 1.56 1.575 1.59 1.605 1.62

3 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1-5 1.5 1.5 1.5 1.5 1.51 1.52 1.53 1.54 1.55 1.56 1.57 1.58

4 1.5 1.5 1.5 1.5; 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.505 1.51 1.515 1.52 1.525 1.53 1.535 1.54

5 1.5 1.5 1.5 1.5! 1.5J 1-5! 1.5 1.5 1.5 1.5 1.5^! 1.5' 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5j 1.5! 1.5

6 1.5 1.5 1.5 1.5^: 1.5; 1.5 1.5 1.5 1.5 1.5 1.5^* 1 5. 1.5 1.5 1.5 1.5 1.49 1.48 1.47 1.46 1.45' 1.44 1.43 1.42

7 1.45 1.45 1.45 1.45 1.45' 1.45 1.45 1.45 1.45 1.45 1.45 1.45. 1.45 1.45 1.45 1.45 1.435 1.42 1.405 1.39 1.375' 1.36 1.345^' 1.33

8 1.4 1.4 1.4 1.4! 1.4 1.4; 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.38 1.36 1.34 1.32 1.3 1.28 1.26^* 1.24

9 1.35 1.35 1.35 1.35 1.35 1.35^: 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.325 1.3 1.275 1.25 1.225 1.2 1.175 1.15

10 1.3 1.3 1.3 1.3 1.3 1.3 1.3. 1.3 1.3 1.3 1.3, 1.3 1.3 1.3 1.3 1 3 1.275 1.25 1.225 1.2 1.175 1.15 1.125 1.1

11 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25' 1.25 1.25 1.25 1.25 1.25 1.23 1.21 1.19 1.17 1.15 1.13 1.11 1.09

12 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2. 1.2- 1.2 1.2 1.2 1.2 1.185 1.17 1.155 1.14 1.125 1.11 1.095 1.08

13 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.14 1.13 1.12 1.11 1.1 1.09 1.08 1.07

14 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 : 1.1 ^" l.1 1.1 1.1 1.1 1.095 1.09 1.085 1.08 1.075 1.07 1.065 1.06

15 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

16 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

17 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

18 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

19 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

20 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1.005 1.01 1.015 1.02 1.025 1.03 1.035 1.04

21 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05'^' 1.05. 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

22 1.05 1.05: 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05: 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

23 1.05 1.05^* 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05^s 1.05ι 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

24 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

25 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

26 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05: 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

27 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

28 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

29 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

30 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

31 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1 05 1 05

32 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

33 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

34 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

35 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1 05 1 05

36 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05|

tbl_01_M1 COI_MLT_M _s_x _G

Duration I ,o , | 1 I 2 I 3 I I 5 | 6 I 7 | ^β I 9; l0..μi1, 1 12 1 13 1 4-1 h15. 1 J6, | .17. | 18 . | ,19 | 20 | 21 1 22 1.23:

1 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.735 1 72 1.705 1.69 1.675 1.66 1.645 1.63

2 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.505 1.51 1.515 1.52 1.525 1.53 1.535 1.54

3 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

4 1.5 1.5 1.5 1.5, 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.49 1.48 1.47 1.46 1.45 1.44 1.43 1.42

5 1.5 1.5 1.5 1.5] 1.5,' 1 5, 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.48 1.46 1.44 1.42 1.4 1.38! 1.36 1.34

6 1.5 1.5 1.5 1.5! 1-5| 1.5¹ 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.47 1.44 1.41 1.38 1.35 1.32. 1.29 1.26

7 1.45 1.45 1.45 1.45 1.45¹ 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.415 1.38 1.345 1.31 1.275 1.24 1.205 1.17

8 1.4 1.4 1.4 1.4 1.4, 1.4^: 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.365 1-33 1.295 1.26 1.225 1.19 1.155 1.12

9 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.32 1.29 1.26 1.23 1.2 1.17 1.14 1.11

10 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.275 1.25 1.225 1.2 1.175 1.15 1.125 1.1

11 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.23 1.21 1.19 1.17 1.15 1.13 1.1 1 1.09

12 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.185 1.17 1.155 1.14 1.125 1.11 1.095 1.08

13 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.14 1.13 1.12 1.11 1.1 1.09 1.08 1.07

14 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.095 1-09 1.085 1.08 1.075 1.07 1.065 1.06

15 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

16 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

17 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

18 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

19 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

20 1 1 1 1 1 1 1 : 1 1 1 ' 1 1 1 1 1 1 1.005 1.01 1.015 1.02 1.025 1.03 1.035 1.04

21 1.05' 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05. 1.05 1.05 1.05! 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

22 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05 1.051 1.05* 1.05] 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

23 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05^* 1.05! 1.05¹ 1.05) 1.051 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05

24 1.05 1.05 1.05 1.05 1 05 1.05 1.05' 1.05 1.05 1.05, 1.05; 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

25 1.05* 1.05 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

26 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05: 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

27 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05

28 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05; 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

29 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

30 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

31 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05

32 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

33 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

34 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05^* 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

35 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05

36 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1 05 1 05]

tbi_01_ 1 EKT_STD_ _N_P_U

tbl_01_M1_AgeFactor

tbl_01_M1_ExpKTablθ

tbl_01_M1_GiveTablθ

ω i -'

PP P P P P p P p p pP P P OP PO P_|0 P P P P P P PP P P P P P P P P P PIP p P P p P O P P'plplP'P P P P P P P P P P P P P P P

α e

tbl_01 _M2AAF_STD_M_N_P_U

tbl 01_M2COI_ADD_F_N_P_U

tbl_01 _M2COI_ADD_F_N_S_U

tbl_01_M2COI_ADD_F_N_X_G

tbl_01 _M2C0I_ADD_F_S_S_U

Duration I • I 1 2 I I 4 I 5 6 I 7 * I » I 10 , " I 12 13 14 | 15 | 16 | 17 | 18 | 19 | 20 I 21 I 22 | 23 ^β-

11 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.265 0.28 0.295 0.31 0.325 0.34 0.355 0.37

12 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.255 0.26 0.265 0.27 0.275 0.28 0.285 0.29

13 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 025 0.25

14 0.15 0.15 0.15 0.15 0.15j 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25. 0.25 0.25

15 0.15 0.15 0.15 0.15! 0.15! 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.251 0.25 0.25

16 0.15 0.15 0.15 0.15; 0.151 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25: 0.25 0.25

17 0.15 0.15 0.15 0.15 0.15^;. 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

18 0.15 0.15 0.15 0.15' 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

19 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

20 0.15 0.15 0.15 0.15 0.15' 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

21 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

1 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

2 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0 18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

3 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

4 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

5 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22' 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

6 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

7 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 ,0.35 0.375 0.4 0.425 0.45

8 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

9 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19. 0.2 0.21. 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

10 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18. 0.19 0.2 0.21 022 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15^: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

36 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0 15 0 15 0 15

tbl_01 _M2C0LADD_F_S_X_G

tbl_01_M2COI_ADD_M_N_P_U

tbl 01 M2COI ADD_M_N S U

Duration | 0 ¹ 1 I 3 I 4 I 5 I 6 I ⁷ I 8 |; 9. | «4lft| ι 11ti:| .12., ,13 | 14, | "4S .|WIB I 17 | 18 | 19; | 20 | 21 | 22 J. | .23

1 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

2 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 025 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

3 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

4 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

5 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0425 0.45

6 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

7 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

8 0.15 0.15 0.15 0.15 0.15, 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

9 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

10 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

11 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.265 0.28 0.295 0.31 0.325 0.34 0.355 0.37

12 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.255 0.26 0.265 0.27 0.275 0.28 0.285 0.29

13 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

14 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

© 16 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

17 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

18 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

19 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

20 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15. 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15! 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15^: 0.15 0.15 0.15 0.15; 0.15 0.15 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

36 0.15 0.15 0 15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

tbl_01_M2COl_ADD_M_N_X_G

Duration I o I 1 1 2 I 3 I I 5 I 6 I I ^β I ⁹ I io | | 13 |

0.15 0.16 0.17 0.18 0.19 0.2 0 ".21I 12 14 15 | 16 | 1 | 18 | 19 | 20 | 21 22 | 23

4 0.15 0.15 0.15 0.15 0.15 022 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

5 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

1 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

2 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

3 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

6 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

7 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

8 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

9 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

10 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

11 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.265 0.28 0.295 0.31 0.325 0.34 0.355 0.37

12 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.255 0.26 0.265 0.27 0.275 0.28 0.285 0.29

13 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

14 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18, 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

© 16 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

17 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

18 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

19 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

20 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15^' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 015

31 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

33 0.15 0.15 015 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15^* 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 015

36 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 015|

tbl_01 _M2COI_ADD_M_S_S_U

Duration o I 1 I 2 I 3 I 4 5 I 6 I 7 I 8 9 I 10 i i | 12 | 13 | 14 ' | 15 16 | 17 | . 18 | 19 | 20 | 21 | 22 | .-23

1 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

2 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

3 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

4 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

5 0.15 0.15 0.15 0.15, 0.15S 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

6 0.15 0.15 0.15 0.15; 0.15' 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

7 0.15 0.15 0.15 0.15' 0.15J 0.15. 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

8 0.15 0.15 0.15 0.15^! 0.15 0.15: 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

9 0.15 0.15 0.15 0.15 0.15 0.15. 0.16. 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 035 0.375 0.4 0.425 0.45

10 0.15 0.15 0.15 0.15 0.15 0.15^! 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

11 0.15 0.15 0.15 0.15 0.15 0.15^: 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.265 0.28 0.295 0.31 0.325 0.34 0.355 0.37

12 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.255 0.26 0.265 0.27 0.275 0.28 0.285 0.29

13 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

14 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

©

Ul 16 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

17 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

18 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

19 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

20 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15; 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15^: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15; 0.15 0.15^: 0.15; 0.15' 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15^! 0.15; 0.15; 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15! 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15. 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

30 0.15 0.15^: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15, 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15¹ 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15: 0.15^: 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15j 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15' 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

36 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

tbl_01_M2COI_ADD_M_S_X_G

Duration | I ¹ 1 2 I I ⁴ I 5 I 6 I 7 I 8 I • ^■I 10 | ,11 | 12 | 13 | 14 | 15 | 16 | 1 | 18 | 19 | 20 | 21 I 22' | 23 <

1 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23

2 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

3 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0:425 0.45

4 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

5 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

6 0.15 0.15 0.15 0.15- 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

7 0.15 0.15 0.15 0.15 0.15' 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0325 0.35 0.375 0.4 0.425 0.45

8 0.15 0.15 0.15 0.15! 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

9 0.15 0.15 0.15 0.15¹ 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

10 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.275 0.3 0.325 0.35 0.375 0.4 0.425 0.45

11 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.265 0.28 0.295 0.31 0.325 0.34 0.355 0.37

12 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.255 0.26 0.265 0.27 0.275 0.28 0.285 0.29

13 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19' 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

14 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19, 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

15 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

© 16 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

17 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19, 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

18 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

19 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19 0.2 0.21 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

20 0.15 0.15 0.15 0.15 0.15 0.15 0.16 0.17 0.18 0.19; 0.2 0.21: 0.22 0.23 0.24 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

21 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

22 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

23 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

24 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

25 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15; 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

26 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

27 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

28 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

29 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

30 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

31 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

32 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

33 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

34 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15^! 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

35 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

36 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15

tbl_01 _M2C0I_MLT_F_N_P_U

tbl_01_M2COI_MLT_F_N_S_U

tbl_01_M2COI_MLT_F_N_X_G

Duration | I 1 I 2 I 3 I 4 5 I 6 I 7 | 8 9. .10, | 11. ,12 | 13 | 14 | 15 16 I 17 18 | 19 | 20 | 21 I 22 | 23 ,. | vPfr*

4 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

3 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

6 2.5 2.5 2.5 2.5^! 2.5] 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

7 2.5 2.5 2.5 2.5, 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

8 2.5 2.5 2.5 2.5' 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

9 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

10 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

11 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

12 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25

13 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

14 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75

15 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

©

~4 16 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25

17 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

18 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

19 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

20 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

21 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

22 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

23 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

24 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

25 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

26 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

27 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

28 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

29 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

30 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1-05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

31 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

32 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

33 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

34 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05

35 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

36 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05

tbl_01 _M2C0l_MLT_F_S_S_U

tbl_01_M2COI_MLT_F_S_X_G

Duration o I 1 I I 3 I 4 I s I 6 7 | 8 I ⁹ 10 H.11.I a | 13 | 14 | .15 16*,| 17 | 18 | 19 | 20 11 22 | .23' |

1 1 1 1 1 1 1 1 1 1 l' 1 l' 1 1 1 1 l' 1 1 1 1 1 1 1 1

2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

3 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

4 2.5 25 25 2.5^' 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

5 2.5 25 2.5 2.5! 2.5' 2.5 2.5 25 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5' 2.5 2.5 2.5

6 2.5 2.5 2.5 2.5 2.5' 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

7 2.5 2.5 2.5 2.5 2.5^! 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

8 2.5 2.5 2.5 2.5! 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

9 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 25 25 2.5 25 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

10 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

11 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 25 2;5 2.5 2.5 2.5 2.5

12 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25

13 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

14 1.75 1.75 1.75 1.75 1.75 1.75 175 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 175

15 15 1.5 1.5 15 1.5 15 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

© 16 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1 5 1.25 1.25 125 125 125

17 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

18 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

19 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

20 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 105 1.05 1.05

21 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105

22 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

23 1.05 1.05 105 105 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

24 105 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 105 1.05 1.05 105 105

25 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

26 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05

27 105 105 105 105 105 105 105 105 105 105 105 105 1.05 105 105 105 105 1.05 105 105 105 105 105 105 105

28 1.05 1.05 105 105 105 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 105 1.05 1.05 1.05 105 105

29 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 105

30 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 105 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 105

31 1.05 1.05 1.05 1.05 105 105 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 105

32 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 105 1.05 1.05 105 1.05 105

33 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 105

34 1.05 1.05 1.05 105 105 1.05 1.05 1.05 1.05 1.05 105 105 1.05 1.05 1.05 1.05 1.05 1.05 105 105 1.05 1.05 1.05 105 105

35 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 105 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 105 1.05

36 1.05 1.05 1.05 105 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 105 105 1.05 1.05 105 105 105 105

tbL01_M2COI_MLT_M_N_P_U

Duration | 0 1 1 2 I 3 I 4 I 5 I 6 I | 20 | 21 I 22 | 23 | _k24,

1 1 1 1 1 1 1 1 1 ⁸ 1 I 9 10 | ,11. | 12 I 13 | 14, I 15 | _?16 | 1 | .18 19 |

1 1 1 1 1 1 1 ^" 1 1 1 1 1 1 1 1 1

2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

3 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

4 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

6 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

7 2.5 2.5 2.5 2.5. 2.5 2.5' 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

8 2.5 2.5 2.5 2.5!^' 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

9 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2 5; 2.5 2-5, 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

10 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

11 2.5 2.5 2.5 2.5 2.5 2.5 2.5, 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5

12 2.25 2.25 2.25 2.25 2.25 2.25 2.25' 2.25 2-25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25 2.25

13 2 2 2 2 2 2 2' 2 2 2. 2' 2 2 2 2 2 2 2 2 2 2 2 2 2 2

14 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75

15 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1 5. 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

16 1.25 1.25 1.25 1.25 1.25 1 25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25

©

17 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

18 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05, 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

19 1.05 1.05 1.05 1.05 1.05 1.05 1.05^! 1.05^: 1.051 1.05; 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

20 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

21 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05 1.05 1.05! 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

22 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05' 1.05: 1.05 1.05, 1.05: 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

23 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05

24 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05, 1.05 1.05| 1.05. 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

25 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05J 1.05 1.05: 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

26 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05' 1.05^* 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

27 1.05 1.05 1 05 1.05 1.05 1.05 1 05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1 05 1.05 1 05 1 05 1 05

28 1.05 1 05 1 05 1.05 1.05 1 .05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05

29 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

30 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

31 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05

32 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

33 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05. 1.05, 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

34 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05

35 1.05 1.05 1.05 1 05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05

36 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1.05 1 05 1.05

tbl_01 _M2C0I_MLT_M_N_S_U

tbl_01_M2COI_MLT_M_N_X_G

Durationl 0 ) 1 | 2 | 3 | 4 | 5 | 6 ) 7 | β ) 9 | l0 ) ll ) 12 j 13 j 14 I 15 I 16 I 17 I 18 ) 19 ( 20 | 21 | 22 ) 23 |,24~

4 25 25 25 25 25 25 25 2.5 25 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 25 2.5 2.5 25 2.5

5 2.5 2.5 2.5 25 2.5 2.5 2.5 25 25 25 2.5 2.5 2.5 2.5 2.5 25 2.5 25 2.5 2.5 2.5 2.5 25 2.5 25

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

2 2 2 2 2 2 2 2 2 2 2 2 2' 2 2 2 2 2 2 2 2 2 2 2 2 2

3 2.5 25 25 25 25 25 2.5 2.5 25 2.5 2.5 25 25 2.5 25 25 2.5 25 25 25 25 25 25 25 25

6 25 25 25 25 2.5 2.5 2.5 25 25 25 25 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 25 25 2.5 25

7 25 25 25 25 25 2.5 2.5 2.5 25 2.5 25 2.5 2.5 2.5 2.5 25 2.5 25 2.5 25 25 25 25 25 25

8 2.5 2.5 2.5 2.5^f 2.5 2.5 2.5 2.5 25 2.5 25 25 25 25 25 2.5 25 25 25 25 25 25 25 25 25

9 2.5 25 25 2.5 2.5 2.5 25 25 25 25 25 2.5 2.5 2.5 25 2.5 2.5 25 2.5 2.5 2.5 25 25 2.5 2.5

10 25 25 25 25 25 25 2.5 2.5 25 2.5 2.5 25 2.5 2.5 2.5 2.5 2.5 25 2.5 2.5 2.5 25 25 25 2.5

11 25 25 25 2.5 2.5 2.5 2.5 2.5 2.5 25 25 25 25 25 2.5 2.5 2.5 25 2.5 25 25 25 25 25 25

12 2.25 2.25 225 2.25 2.25 225 225 225 225 2.25 225 2.25 2.25 2.25 225 225 225 225 2.25 225 225 225 225 225 2.25

13 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

14 1.75 175 175 1.75 1.75 175 1.75 175 175 175 175 1.75 1.75 175 1.75 1.75 1.75 175 1.75 1.75 175 175 175 175 1.75

15 15 15 15 15 1.5 15 1.5 15 1.5 1.5 1.5 1.5 1.5 15 1.5 1.5 1.5 15 1.5 15 15 15 15 f5 15

16 125 125 125 125 125 125 1.25 125 125 1.25 125 125 125 125 125 125 125 125 125 125 125 125 125 125 125

17 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

18 105 105 105 105 105 105 105 1.05 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 105 105 1.05 105 105 105 105 105

19 1.05 105 105 105 105 1.05 1.05 1.05 1.05 105 105 105 1.05 105 1.05 1.05 1.05 105 1.05 105 105 105 105 105 105

20 105 105 1.05 105 105 105 105 105 1.05 1.05 1.05 1.05 105 105 105 1.05 105 105 1.05 1.05 105 105 105 105 105

21 105 105 1.05 105 1.05 1.05 1.05 105 1.05 105 105 1.05, 105 105 105 105 105 105 105 1.05 105 105 105 105 1.05

22 105 105 1.05 105 1.05 105 105 105 105 105 105 1.05. 1.05 105 1.05 1.05 1.05 105 1.05 1.05 1.05 105 105 1.05 1.05

23 1.05 1.05 1.05 105 105 105 105 1.05 1.05 1.05 1.05 1.05 105 105 1.05 1.05 1.05 105 1.05 1.05 1.05 105 105 105 105

24 105 105 1.05 1.05 1.05 1.05 105 1.05 1.05 1.05 1.05 1.05 105 105 105 105 105 105 105 1.05 1.05 105 105 1.05 1.05

25 105 1.05 1.05 1.05 1.05 105 105 105 105 105 105 1.05 105 1.05 105 1.05 1.05 1.05 1.05 1.05 1.05 105 105 105 105

26 105 1.05 105 105 1.05 105 105 105 105 1.05 1.05 1.05' 105 1.05 1.05 1.05 1.05 105 105 105 105 105 105 105 105

27 105 1.05 1.05 105 105 105 105 105 1.05 105 105 105 105 1.05 105 1.05 1.05 1.05 1.05 105 105 1.05 105 105 105

28 105 105 105 1.05 105 105 105 105 1.05 105 1.05 1.05 105 105 105 105 105 105 105 105 105 1.05 105 105 105

29 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105

30 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105

31 105 105 105 105 105 105 105 105 105 105 105 105 105 1.05 105 105 105 105 105 105 105 105 105 105 105

32 105 105 105 105 105 105 1.05 105 1.05 105 105 105 105 1.05 105 1.05 105 105 105 105 105 105 105 105 105

33 105 1.05 105 105 105 105 105 105 1.05 105 105 105 105, 1.05 1.05 1.05 105 105 105 105 105 105 105 105 105

34 105 105 105 105 105 105 105 105 105 105 105 105 105¹ 1.05 105 105 105 105 105 105 105 105 105 105 105

35 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 105

36 105 105 105 105 105 105 105 105 1.05 105 105 105 105 105 105 1.05 105 105 105 105 105 105 105 105 105

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APPENDIX D

Product Design and Flexibility

© M Financial Group 2001

Selecting a configuration for a life insurance product often involves a choice between an all base policy (A), enhanced long-term performance in exchange for lower commissions (B), or a high early cash value configuration accomplished by levetizing or lowering commissions (C), as depicted in the graph below:

70.0% 80.0% 90.0% 100.0% 110.0%

First Year SV/Prem

In currently available products, there are often limited options available to optimally structure a policy that meets the needs of your client without generally sacrificing commission. Magnastar provides a single product platform that can be custom tailored to meet a multitude of client needs with regard to policy performance, while maintaining the same level of commissions. Magnastar has the flexibility to create a customized product solution that meets the expectations of each and every client.

The Magnastar product is designed to allow maximum flexibility in structuring producer commission levels, while choosing policy load factors that will result in performance that is attractive to both you and the client. While it is not possible to directly specify the level of pricing components (premium loads, cost of insurance, administrative charges, and mortality & risk expense charges), there are a number of options to influence these components. As opposed to opting between two points on a dynamic model of performance measures, Magnastar opens the door to a wide selection of choices that are available while maintaining the same commission levels. The following graph shows a hypothetical case configured in 18 different ways; all having the same present value of commissions after 10 years:

Commission Types

There are three types of commissions that can be paid:

1) Percent of premium

2) Percent of assets

3) Service commission based on per $1 ,000 of face amount

The level of commission paid each year can be set in the case design. Configurations will be subject to review for compliance with maximum expense limitations.

Commission Modules

Commission levels and product load options are determined by choices made in four different "modules". These modules correspond to different pricing components.

• Module 1 - Percent of Premium Matched to Premium Loads

Commission rates are specified and matched to the corresponding annual premium loads. This module gives the ability to select a specific commission rate for each target premium band for each duration.

In addition, early surrender values can be enhanced through the enhanced surrender value option. This option is available only in conjunction with Module 1. If the policy is surrendered during the first 9 policy years, a portion of the sales load will be added to the cash value upon surrender. The level of the enhancement will correspond to the commission and premiums applied to Band 1 target in year 1.

Applicable Scenarios for Module 1 : Best long-term performance Low cost of insurance charges desired

• Module 2 - Percent of Premium Unmatched to Premium Loads

Commission rates are specified but not matched by the corresponding premium sales loads. Recovery of commission expenses occurs through amortization of other policy load elements. This module gives the ability to select a specific commission rate for each target premium band during the early policy durations. Amortizing commissions allows for early duration policy values to be higher than if the commissions were charged via Module 1.

In addition, if the client is not concerned with surrender values during the early years of the policy and is more interested in long-term performance, a surrender charge option is available to provide a better long-term performance alternative. Surrender charges will apply during the first nine years and the option is used in conjunction with Module 2. The level of surrender charges will correspond to the level of Band 1 target premium and overall commission levels.

Applicable Scenarios for Module 2: High first-year surrender value desired s Best short-term performance Client aversion to policy loads

• Module 3 - Percent of Assets

Provides the ability to specify asset-based trail commissions with this module. The mortality & expense risk charge will vary in relation to the commission rate selected. There is an option to set an asset band level above which a different trail commission will apply. This asset band can be based on the combined assets of multiple policies.

• Module 4 - Per $1000 of Face Amount

Commissions can be specified to be payable as a flat fee per $1000 of Face Amount with this module. The commission can be specified annually and results in a charge to the policy taken over the policy years. Additionally, an option exists to only have the commission paid in year 1 and charged over the first 0 policy years.

Applicable Scenarios for Module 3: Desire for commissions when face amount is anticipated to increase without a corresponding premium payment paid. s Ability to mimic a fixed fee schedule within the contract.

All four modules may be used in various combinations.

Premium Banding

In addition to the ability to set the annual commission structure, you must also set a target premium banding structure. By setting the target premium structure properly, you will be able to optimize a product configuration to deliver the best performance based on an anticipated premium payment pattern. Band 1 Target Premium: Premiums in a given policy year up to a set percentage (between 10% and 100%) of the maximum 7-pay premium. Generally, it is most efficient to set the Band 1 Target Premium at the anticipated level of recurring premiums.

Band 2 Target Premium: Premiums in a given policy year above the Band 1 Target Premium up to a set percentage (between 0 and 100%) of the maximum guideline single premium. Generally, it is best to set the Band 2 Target Premium at the maximum guideline single premium.

Band 3 Target Premium: Premiums in excess of the Band 1 and Band 2 Target Premiums.

Example

If a policy has a maximum 7-pay premium of $1 million and a maximum guideline single premium of $6 million, the Target Premium Bands can be specified as follows:

Band 1 Target Premium = 10%-100% of $1 million

Band 2 Target Premium = 0%-100% of $6 million minus Band 1 Target Premium

Band 3 Target Premium = $6 million minus (Band 1 + Band 2 Target Premiums)

Other Producer-Defined Features

In addition to the commission modules and premium banding, amortization or premium and DAC taxes are other adjustable components that affect policy performance.

• Amortization of Premium & DAC Taxes

Similar to Module 2 commissions, the premium and DAC taxes that are deducted from the premium can also be deferred and amortized. Either one or both taxes can be deferred. Taxes can also be deferred on Band 1 premiums, Band 2 premiums, or both.

The period of deferral for taxes on Band 1 premiums can be selected between 1 and 10 years. Deferral of taxes on Band 2 premiums is available only for premiums applied in the first policy year, and taxes on Band 3 premiums may not be deferred at all. Policy performance is affected in a manner similar to Module 2; early account values are improved and long-term performance is slightly worse.

Performance Comparisons

Commission Module 1 will generally yield the best long-term performance, while Commission Module 2, in conjunction with the premium tax amortization feature, should produce the highest first-year surrender value.

Male age 45, GI-NS, $1 million premium for

B seven years, minimum non-MEC death benefit

SV/Premium Yr. 1 90.9% 106.2% 10% gross rate of return SV/Premium Yr. 7 119.2% 120.2% .50% investment expenses Life Exp. DB IRR 8.49% 8.16% Case A: Module 1 , 10% commission, yrs. 1-7; Prem. Load Yr. 1 $143,600 $0 10bp trail commission, all years Pol. Charge Yr. 1 $0 $0 Case B: Module 2, 10% commission, yrs. 1-7; Pol. Charge Yr. 10 $0 $96,561 10bp trail commission all years; taxes amortized, year 1 COI Yr. 1 $24,724 $20,517 COI Yr. 10 $44,014 $59,171 Commission Yr. 1 $100,000 $100,000 PV Comm. Yrs. 1-10 $562,899 $563,437

Module 1 uses a premium load to recoup commissions and premium taxes, with no monthly policy charges and a relatively low COI cost for the duration of the policy. In contrast, Module 2 has very low or non-existent loads (depending upon whether or not taxes are amortized), with monthly policy charges in years 2 through 10, and COIs that are low in year one but generally higher than Module 1 thereafter.

Cost of Insurance Comparisons for Sample Case

13 17

Policy Year

Enhanced Surrender Option

As an alternative to Module 2 in enhancing first-year surrender values, the enhanced surrender value option can be used with Module 1. This option allows an attractive first-year surrender value to be illustrated without a significant decrease in long-term performance (in this example, 10 basis points in death benefit internal rate of return [DB IRR] at life expectancy [attained age 85]).

Male age 45, GI-NS, $1 million premium for seven years, Minimum non-MEC death benefit

SV/Premium Yr. 1 90.9% 101.9% 10% gross rate of return SV/Premium Yr. 7 119.2% 119.5% Life Exp. DB IRR 8.49% 8.39% .50% investment expenses Case A: Module 1 , 10% commission, yrs. 1-7; Prem. Load Yr. 1 $143,600 $143,600 10bp trail commission, all years Pol. Charge Yr. 1 $0 $0 Case C: Module 1 , 10% commission, yrs. 1-7; Pol. Charge Yr. 10 $0 $0 10bp trail commission all years; enhanced surrender value option COI Yr. 1 $24,724 $25,957

COI Yr. 10 $44,014 $45,604

Commission Yr. 1 $100,000 $100,000

PV Comm. Yrs. 1-10 $562,899 $562,722

Summary

You will likely want to consider multiple product configurations for each potential client. A checklist of the following cost components can be useful in determining an optimal policy design for your potential client. p Band 1 Target Premium level p Band 2 Target Premium level p Module 1 matched premium commission rates (if any)

> Usage of Enhanced Surrender Value option (yes or no) p Module 2 unmatched premium commission rates (if any)

> Usage of Surrender Charges (yes or no) p Commission rates on Band 3 premiums (premiums above Bands 1 & 2) p Module 3 asset-based commission rates (if any)

> Asset Band Break (if used) p Module 4 percent of face amount commission rates (if any)

> Year one only option (yes or no) p Deferral of Premium Taxes (number of premium payment years to defer)

> Deferral on Band 1 and/or Band 2

> Deferral on Premium and/or DAC tax

APPENDIX E

Product Illustration

PRODUCT DESCRIPTION & IMPORTANT INFORMATION

Initial Face Amount: 51,000,000

Initial Premium: $56,490.00

Tax Compliance Test: Cash Value Accumulation

Magnastar private Placement vanabie Lite is a flexible premium variable life insurance contract. The policy account values and, in some cases, the death benefit, will vary daily depending upon investment returns generated in the selected investment options, the amount of premiums paid, loans and withdrawals taken from the policy, and charges deducted from premiums and the policy account values to cover the costs of providing benefits. It is possible for the policy to lapse due to insufficient premium payments and/or poor investment results.

Magnastar Private Placement Variable Life is a private placement product, which can only be offered to a purchaser meeting the definition of both an accredited investor and a qualified purchaser.

Definition* of Accredited Invrtor

Ownership; individual Corporation

Annual Income: $200,000 or more for at least two years or, joint income of $300,000 or more for last two years.

OR

Net Worth: $1,000,000 or more $5,000,000 or more of assets (excluding personal residence & furnishings, automobiles). Can be joint net worth.

Definition, of Omllfi«d Purcheeer

Ownership; -Qdjyjd^jual Entity (Corporation. Trust. atc

Investments: Personal investments valued Entity's investments are valued at at $5,000,000 or more. $25,000,000 or more. Investments Investments include securities, exclude business buildings, stock in mutual funds, financial contracts, business controlled by the investor, cash equivalents, & real estate pension assets, inventory and related for investment purposes. business equipment

This is an illustration only and is not an offer of sale. Any offer of sale must be preceded or accompanied by the current offering memorandums for the separate account and completion of the investor qualification questionnaire. Read the offering memorandums carefully before submitting premiums. LEP6ER ILLUSTRATION

Initial Face Amount. $1,000,000

Initial Premium: $56,490.00

Tax Compliance Test: Cash Value Accumulation

Non-Guaranteed Current Charges

Hypothetical Gross Rate of Return 8.00% (Net Rate 7.06%)

Values illustrated are as of end of policy year

Net EOY Net EOY Net EOY

Policy Annual Account Surrender Death

Year Age Premium Value Value Benefit

~(V (2f^{~ ~}(3) ^_(4)

1 45 56.490 50.228 50.228 1.000000

2 46 56,490 103.869 103.869 1000000

3 47 56.490 161.195 161.195 1000000

4 48 56.490 222.547 222.547 1000000

5 49 56.490 288.263 288.263 1000000

6 50 56.490 358.678 358.678 1000000

7 51 56.490 434.070 434.070 1042115

8 52 0 463.016 463.016 1079614

9 53 0 493.854 493.854 1118777

10 54 0 526.804 526.804 1159971 Total 395.430

11 55 0 561.927 561.927 203199

12 56 0 599.402 599.402 1248614

13 57 0 639.374 639.374 1296331

14 58 0 682.033 682.033 1346471

15 59 0 727.475 727.475 1398935

16 60 0 775.764 775.764 1453783

17 61 0 827.127 827.127 1511078

18 62 0 881.748 881.748 1571098

19 63 0 939.830 939.830 634083

20 64 0 1.001.603 1.001.603 1700322

Total 395.430

LEDGER ILLUSTRATION

Initial Face Amount: $1,000,000

Initial Premium: $56,490.00

Tax Compliance Test: Cash Value Accumulation

Mnn-GuaranieBd Current Charges Hypothetical Gross Rate of Return 8.00% (Net Rate 7.06%)

Net EOY Net EOY Net EOY p . Annual Account Surrender Death S Age Premium ^{Valuβ Vakl}? ^Bβnβfil

- — - (1)~ ^~i PT~ (3) (4)

,. _M 0 1.066.849 1.066.849 1.769.262

,1 66 0 1.136.192 1.136.192 1.841.881

,, CT 0 1.209.878 1.209.878 1.918.261 ϋ βa 0 1.288.164 1.288.164 1.998.715 it ∞ o 1.371.275 1.371.275 2.083.104

~ 70 0 1.459.604 1.459.604 2.171.891

1° 71 0 1.553.361 1.553.361 2.265.266

H „ 0 1.652.869 1.652.869 2.363.768 0 1.758.463 1.758.463 2.467.651

~ 74 0 1.870.505 1.870.505 2.577.743 Total 395430

₇ς 0 1.989.370 1.989.370 2,694.801 i ₇6 0 2.115.401 2.115.401 2.818.772

~ „ 0 2.248.976 2.248.976 2.949.982

Z 78 0 2.390.505 2.390.505 3.089.011

X n 0 2.540.405 2.540.405 3.235.714

Z 80 0 2.699.136 2.699.136 3.390.114

* βl 0 2.867.104 2.867.104 3.552.915

" 82 0 3.044.852 3.044.852 3.724.463 83 0 3.232.907 3.232.907 3.905.998

40 8 0 3.431.719 3.431.719 4.098.159

Total 395.430

LEDGER ILLUSTRATION

Initial Face Amount: $ 1.000.000

Initial Premium: $56,490.00

Tax Compliance Test: Cash Value Accumulation

Non-Guaranteed Current Charges Hypothetical Gross Rate of Return 8.00% (Net Rate 7.06%)

Net EOY Net EOY Net EOY

Pohcy Annual Account Surrender Death

Year Age Premium Value Value Benefit

41 85 0 3.641.719 3.641.719 4.301.598

42 86 0 3.863.479 3.863.479 4.517.180

43 87 0 4.097,530 4.097.530 4,744.940

44 88 0 4.344.448 4.344.448 4.985.254

45 89 0 4.604.682 4.604,682 5.237.366

46 90 0 4.879.597 4.879.597 5.502.722

47 91 0 5.170.208 5.170.208 5.780.809

48 92 0 5.477.924 5.477.924 6.070.635

49 93 0 5.804.511 5.804.511 6.372,773

50 94 0 6,152,448 6.152.448 6.687.096 Total 395.430

51 95 0 6.525.183 6.525.183 7.013.266

52 96 0 6.927.166 6.927.166 7.353.879

53 97 0 7,363.838 7.363.838 7.714.356

54 98 0 7.841.521 7.841.521 8.103.427

55 99 0 8.366.709 8.366.709 8.532.370 Total 395.430

LEDGER ILLUSTRATION initial Face Amount: $1,000,000

Initial Premium: $56,490.00

Tax Compliance Test: Cash Value Accumulation

ALTERNATIVE LEDGERS

Based on 0.00% Gross Rate of Return (-0.87% Net Rate of Return) and Current Charges, policy will lapse in year 37 Based on 0.00% Gross Rate of Return (-0.87% Net Rate of Return) and Guaranteed Maximum Charges, policy will lapse in year 24

Values illustrated are as of end of policy year

8.00% GroM Rate of Return 0.00% Gross Rat* of Return 0.00% Gross Rate of Return

' 7.06% Net Rate of Return -0.87% Net Rate of Return •0.87% Nat Rate of Return

EOY Net EOY Net EOY Net

Policy Surrender EOY Net Surrender EOY Net Surrender EOY Nel

Year Age Net Outlay Value Death Benefit Net Outlay Value Death Benefit Net Outlay Value Death Benefit

1 45 56.490 47.015 1.000.000 56.490 46.459 1.000.000 56.490 . 43.376 1.000.000

2 46 56.490 97.093 1.000.000 56.490 92.379 1.000.000 56.490 86.117 1,000,000

3 47 56.490 150.470 1.000.000 56.490 137.788 1.000.000 56,490 128.232 1.000,000

4 48 56.490 207.416 1.000.000 56.490 182.757 1.000.000 56.490 169,743 1.000.000

5 49 56.490 268.205 1.000.000 56.490 227.334 1.000.000 56.490 210.649 1.000,000

6 50 56.490 333.163 1.000.000 56.490 271.539 1.000.000 56.490 250,969 1.000.000

7 51 56.490 402,611 1.000.000 56.490 315.328 1.000.000 56.490 290.682 1.000.000

8 52 0 425.020 1.000.000 0 310.792 1,000.000 0 281.722 1.000.000

9 53 0 448.679 1.016.438 0 306.158 1.000.000 0 272.250 1.000.000

10 54 0 473.555 1.042.720 0 301.522 1.000.000 0 262.179 1.000.000

Total ^"395.430 395.430 ^' 395.430

11 55 0 498.601 1.067.605 0 296.790 1.000.000 0 250.936 1,000.000

12 56 0 524.726 1.093.057 0 291.991 1.000,000 0 238,974 1.000.000

13 57 0 551.984 1.119.147 0 287.107 1.000.000 0 226.240 1.000.000

14 58 0 580.418 1.145.861 0 282.153 1,000.000 0 212.651 1,000.000

15 59 0 610.072 1.173.168 0 277.029 1.000.000 0 198.113 1.000.000

16 60 0 640.965 1.201.168 0 271.597 1.000.000 0 182.480 1.000.000

17 61 0 673.113 1.229,710 0 265.885 1.000.000 0 165.581 1.000.000

18 62 0 706.511 1.258.861 0 259.859 1.000.000 0 147.195 1,000.000

19 63 0 741.144 1.288.627 0 253.490 1.000.000 0 127.056 1.000.000

20 64 0 777.005 1.319.044 0 246.761 1.000.000 0 104.878 1.000.000

Total 395.430 395.430 395.430

LEDGER ILLUSTRATION initial Face Amount: $1,000,000

Initial Premium: $56,490.00

Tax Compliance Test: Cash Value Accumulation

ALTERNATIVE LEDGERS

8.00% Gross Rate of Return 0.00% Gross Rate of Return 0.00% Gross Rate of Return

; 7.0β% Net Rate of Return -0.87% Net Rat* of Return -0.87% Net Rate of Return r...

EOY Net EOY Net EOY Net

Policy Surrender EOY Net Surrender EOY Net Surrender EOY Net

Year Age Net Outlay Value Death Benefit Net Outlay Value Death Benefit Net Outlay Value Death Benefit

21 65 0 814.101 1.350.104 0 239.153 1,000.000 0 80.355 1.000.000

22 66 0 852.468 1.381.937 0 231.068 1,000.000 0 53.194 1.000,000

23 67 0 892.153 1,414.509 0 222.448 1.000.000 0 23.053 1.000.000

24 68 0 933.207 1.447.963 0 213.230 1.000.000 0 0 0

25 69 0 975.662 1,482.128 0 203.281 1.000.000 0

26 70 0 1.019.497 1,517.012 0 192.638 1,000.000 0

27 71 0 1.064.655 1,552,587 0 181.091 1,000.000 0

28 72 0 1.111.032 1.588.887 0 168.533 1,000.000 0

29 73 0 1,158.501 1.625.725 0 154.832 1.000.000 0

30 74 0 1.206.974 1.663.331 0 139.858 1.000.000 0

Total 395.430 395.430 ^" 395.430

31 75 0 1.256.411 1.701.934 0 123.459 1.000.000 0

32 76 0 1.306.849 1,741.376 0 105.385 1.000.000 0

33 77 0 1.358.381 1.781.789 0 85.375 1.000.000 0

34 78 0 1.411.130 1,823.463 0 63.149 1.000,000 0

35 79 0 1.465.179 1.866.199 0 38.343 1,000,000 0

36 80 0 1.520.537 1.909.795 0 10.541 1.000,000 0

37 81 0 1.577.134 1.954.384 0 0 0 0

38 82 0 1.634.821 1.999.713 0 0

39 83 0 1.693.392 2,045.956 0 0

40 84 0 1,752.748 2.093.131 0 0

Total 395.430 395.430 395.430

I FDGER ILLUSTRATION

Initial Face Amount: $1,000,000

Initial Premium: $56,490.00

Tax Compliance Test: Cash Value Accumulation

ALTERNATIVE LEDGERS

t.00% Gross Rate of Return 0.00% Gross Rat* of Return 0.00% Gross Rate of Return

; 7.06% NM Rat* of Return -0.87% NM Rat* of Return •0.87% Nat Rate of Return

Currant Charges Guaranteed Ua.l um Charαes

EOY Net EOY Net EOY Net

Policy Surrender EOY Net Surrender EOY Net Surrender EOY Net

Year Age Net Outlay Valu* Death Benefit Net Outlay Value Death Benefit Net Outlay Value Death Benefit

41 85 0 1.812.893 2.141.389 0 0

42 86 0 1.873.917 2.190.984 0 0

43 87 0 1.935.999 2.241.887 0 0

44 88 0 1.999.366 2.294.273 0 0

45 89 0 2.064.366 2.348.010 0 0

46 90 0 2.131.323 2.403.493 0 0

47 91 0 2.200.690 2.460.592 0 0

48 92 0 2.273.122 2.519.074 0 0

49 93 0 2.349.301 2.579.298 0 0

50 94 0 2.429.658 2.640.795 0 0

Total ^" 395.430 395.430 ^" 395.430

51 95 0 2.514.342 2.702.415 0 0

52 96 0 2.602.489 2.762.802 0 0

53 97 0 2.691.071 2.819.166 0 0

54 98 0 2.771.061 2.863.615 0 0

55 99 0 2.407.315 2.454.980 0 0

Total ^"395.436 395.430 395.430

ALLOCATIONS, FEES & EXPENSES

Initial Face Amount: $1,000 000

Initial Premium: $56,490 00

Tax Compliance Test: Cash Value Accumulation

VUL along with the current investment management fees and fund operating expenses for each subaccount. All figures are annualized.

Investment

Management

Subaccount Allocation Fees" Expenses

Growth & Income'* 068% o αβ% Equity Index** 0.13% 006% Large Cap Value** 0.75% 005% Large Cap Growth" 0 36% 0 10% Lara* Cap Aggressive Growth** 0.90% 0 10% Mid Cap Growth- 0 92% 0 04% Fundamental Growth** 0.90% o to% RβΛt Estate Equity" 1 01% 0 09% Smail MW Cap CORE" 0 80% 0.10% Small/Mid Cap Growth** 0.97% 0 10% Small Cap Equity" 0 90% 0.10% Small Cap Growth" 1 05% 007% International Equity index" 0.18% 0.10% International Opportunrtjaβ" 1.13% 0.10% Emerging Markets Equity" 1 50% 0.10% Money Market" 0.25% 0.04% Shoπ-Tscm Bond" 0.60% 006% Bond Index" 0.15% 0.10% Active Bond" 0.82% 0.10% Global Bond" 0.85% 0 10% High Yield Bond" 0.30% 0 10% Managed** 0.ββ% 009% Global βatanc*d" 1 05% 0 10% AIM I Value" 0.81% 023% Fidelity VIP Contrafund" 0.87% 009% Fidelity VIP Growth" 0.87% 009% MFS New Oiscovery" 0 90% 0 16% Janus Aspen Worldwide Growth" 0.90% 005% Janus Aspen Global Technology" 0 90% 0 04% AIM V I Growth" 081% 022% Health Sciences" 1 00% 0 10% International Equity" 1 20% 0 1Q% Large Cap Value CORE" 0 75% 0 10% Largt/MW Cap Value" 095% 0 10% MFS Investor Growth" 0 75% 0 16% MFS Research" 0.75% 0 10% Small Cap Value" 095% O IQ% VA Financial Industrie*" 0 80% 0 10% VA Relative Value" 060% 0 19% VA Strategic Income-" 0 80% 0 18% Srandet International Equity 0 80% 025% Turner Cor* Growth 045% 025% Frontier Capital Appreciation 0 90% 025% Clifton Enhanced U S. Equity 0.40% 025%

Based upon the above allocation, this illustration assumes a hypothetical investment management fee of 0.76%, a hypothetical operating expense of 0.12%.

* Illustration assumes allocations made to an average of all subaccounts.

** Illustrations incorporate a current, non-guaranteed asset credit for these subaccounts. ALLOCATIONS, FEES & EXPENSES

Initial Face Amount: $1 ,000,000

Initial Premium: S56.490.00

Tax Compliance Test Cash Value Accumulation

Calculated annual net rates for various hypothetical annual gross rates of return:

Grew Rate of Return Net Rate of Return

12.00% 11.03%

8.00% 7.06%

4.00% 3.10%

0.00% ■0.87%

Net rate of retum is calculated after subtractions for investment management fees and subaccount operating expenses.

* Illustration assumes allocations made to an average of all subaccounts.

" Illustrations incorporate a current, non-guaranteed asset credit for these sub^ββcouπt^β. ILLUSTRATION NOTES

Initial Face Amount: $1,000,000

Initial Premium: $56,490 00

Tax Compliance Test: Cash Value Accumulation

The hypothetical rates or return and values snown are illustrative only and should not be construed as a representation of past or future investment results. The illustrated policy values might not be achieved if actual rates of retum or policy charges differ from those assumed or if premiums are not paid as illustrated. Actual rates of return may be more or less than those shown and will depend on a number of factors including the investment allocation made to the variable accounts by an owner and the performance of the accounts.

At the time the policy is purchased, the policyowner may elect either the Guideline Premium Test (GPT) or Cash Value Accumulation Test (CVAT). Once the policy/certificate is issued, the election cannot be changed.

Under the CVAT, the policy must maintain a minimum ratio of death benefit to cash value. Therefore, in order to ensure that the policy qualifies as life insurance, the policy's total death benefit may increase as the policy account value increases. Under the GPT, there is a limit as to the amount of premium that can be paid into the policy in relation to the death benefit In addition, there Is a minimum ratio of death benefit to cash value associated with this test.

The Intemal Revenue Code describes a class of policies called Modified Endowment Contracts (MECs). Policies are classified as MECs if they violate tests defined in I.R.C. 7702A. Distributions during the insured's lifetime from MECs are taxed less favorably than policies that are πon-MECs. If the distnbution is taxable, it may also incur a 10% penalty tax unless you qualify under one of the exemption provisions of I.R.C. 72(v).

Based upon our understanding of the Internal Revenue Code and the assumptions In the illustration, this policy would not become a MEC.

Consult your tax advisor for further details and advice about your personal circumstances.

The schedule of premiums and death benefits are based upon the specific assumptions illustrated. Actual expeπence may make it necessary for /ou make changes to your scheduled premiums and death benefits to prevent the policy from becoming a MEC. Decreases to the face amount of the policy may require a recalculation of the maximum allowable non-MEC premium. Past premiums may violate the new maximum allowable non-MEC premium.

Tax Effect columns include effects of taxable gains on amounts received from the policy. These include the effects of I.R.C. Section 7702 for treatment of gains received in excess of policyholder's basis, outstanding loans at lapse, or due to the contract being considered excessively funded and effects of I.R.C. Section 7702A for contracts considered Modified Endowments.

This is an illustration and not a contract Although the information in this illustration is based on certain tax and legal assumptions, it is not intended to be tax or legal advice. Such advice should be obtained from the applicants own counsel or other expert(s).

SUMMARY PAGE

Initial • αw nmwuiit. $1,000,000

Scheduled Face Amount Increases: None Additional Coverage Segments: None

Initial Premium: $56,490

State: Oregon

Death Benefit Option: Level Assumed Gross Rate of Return: 8.00% From year 1 to 55 Assumed Net Rate of Return: 7.06% From year 1 to 55, Please refer to

Investment Allocations page for explanation of gross and net rates.

Payment Mode: Annual

Underwriting: Full Underwriting

Class: Preferred Non Tobacco User

Ratings: No Table Rating: None Permanent Rat Extra: None Temporary Flat Extra: None

Insured Tax Rate: 28%

Annual Current Non-Guaranteed Mortality & Expense Risk Charge

Current 0.2750% from year 1 to 55

Guaranteed Maximum Charge: 0.2750% from year 1 to 10 0.4750% from year 11 to 55

Loan Interest Rate Charged on Policy Debt Loaned Funds Crediting Rate + M & E Rate on

Asset Layer 1 + 10 basis points Rate Credited on Loan Account 4.00%

1035 Exchange: No

Initial 7-Pay Premium: $56,490 Maximum Single Premium: $347,476 INPUT SUMMARY

Plan: Ledger, version 1.0 Product: John Hancock Magnastar, version 1.0 Presentation: Magnastar Ledger, version 1.0 Input form: Ledger, version 1.0

PRODUCT Input: ISSUESTATE: OR INSURED[1].ISSUEAGE: 45 INSURED(1].ISSUESEX: Male INSURED[1].ISSUESMOKINGSTATUS: Non-smoker INSURED[1].UNOERWRITINGCLASS: Preferred 1035: N

AIONLYVERSION: N BAND1:TARGETPREMIUM: 100 BAND2:TARGETPREMIUM: 0 CUSTOMFUNDS: Average DACTAX: Y DACTAXEXCESS' Y

DEATHBENEFITOPTION: Level FROM 1 THRU 55 DESIREDCASHVALUE: 1000 DESIREDCASHVALUEr.DURATION: 99 DESIREDCASHVALUE::ROUNDFACTOR: 1.0 DESIREDCASHVALUE::TOLERANCE: 1000 DISTRIBUTION: Varies FROM 1 THRU 55 DISTRIBUTION::FUNDTYPE: Basis FROM 1 THRU 55 DISTRIBUTION:TAXFUNDING: N DOLITEST: Cash Value Accumulation FACEAMOUNT: 1000000 FROM 1 THRU 55 FUNDLIST: Average FUNDRATE: 8 FROM 1 THRU 55 FUNDRATE:OPTION: Gross

HELP:ENHANCEDSURRVALUERIDER: see Module 1 on Customization Screen INSURANCEACCOUNTING: N LOANINTEREST: Borrow MAINTAINDB: N MATURITYYEAR: 55 MODULE1:GIVEBACK N MODULE1 PERCENT: 100

MODULE 1:TARGETCOMMISSION: 10 FROM 1 THRU 7 MODULE1:TEXT: Y MODULE2:PERCENT: 0 MODULE2:SURRENDERCHARGE: N MODULE2:TEXT: Y MODULE3:COMMISSIONTRAIL1: .1 MODULE3:PERCENT: 100 MODULE3:TEXT: Y MODULE4:FIRSTYEAROPTION: N MODULE4:PERCENT: 0 MODULE4:TEXT: Y MORTALITYADJUSTMENT: N INPUT SUMMARY

PREMIUM:DURATION: N PREMIUMMODE: Annual PREMIUMTAX: Y PREMIUMTAXEXCESS: Y REPORTS.ACCOUNTVALUE: N REPORTS:COMMISSIONS: N REPORTS:DEATHBENEFIT: N REPORTS:DEEMEDCASHVALUE: N REPORTS:IRR: N REPORTS:POLICYCHARGES: N REPORTS:PRODUCERCONFIGURATION: N RIDERSΕNHANCEDDB: N RIDERSiRETURNOFPREMIUMS: N SECONDINSURED: N SEVENPAY: Yes

SMOKINGSTATUSINSUREDONE: Non Tobacco User TWODECIMALPLACES: N UNDERWRITINGTYPE: Full Underwriting UNSCHEDULED: N WITHDRAWALMAXIMUM: Basis

PLAN Input MFIN.1035: N MFIN.AIONLYVERSION: N MFIN.BAND1:TARGETPREMIUM: 100 MFIN.BAND2:TARGETPREMIUM: 0 MFIN.CUSTOMFUNDS: Average MFIN.DACTAX: Y MFIN.DACTAXEXCESS: Y MFIN.FUNDUST: Average MFIN.FUNDRATE: 8 FROM 1 THRU 55 MFIN.FUNDRATE:OPTION: Gross

MFIN.HELP:ENHANCEDSURRVALUERlDER: see Module 1 on Customization Screen MFIN.MAINTAINDB: N MFIN.MODULE1:GIVEBACK: N MFIN.MODULE1 PERCENT: 100

MF!N.MODULE1:TARGETCOMM.SSION: 10 FROM 1 THRU 7 MFIN.MODULE1:TEXT: Y MFIN.MODULE2:PERCENT: 0 MFIN.MODULE2:SURRENDERCHARGE: N MFIN.MODULE2:TEXT: Y MFIN.MODULE3:COMMISSIONTRAIL1: .1 MFIN.MODULE3.PERCENT: 100 MFIN.MODULE3:TEXT: Y MFIN.MODULE4:FIRSTYEAROPTION: N MFIN.MODULE4:PERCENT: 0 MFIN.MODULE4:TEXT: Y MFIN.NBFEED: N MFIN.OVERRIDEGIAGE: N MFIN.PREMIUM:DURATION: N INPUT SUMMARY

MFIN.REPORTS:DEEMEDCASHVALUE: N MFIN.REPORTS:IRR: N MFIN.REPORTS:POLICYCHARGES: N MFIN.REPORTS:PRODUCERCONFIGURATION: N MFIN.RIDERS:ENHANCEDDB: N MFIN.RIDERS:RETURNOFPREMIUMS: N MFIN.SECONDINSUREO: N

MFIN.SMOKINGSTATUSINSUREDONE: Non Tobacco User MFIN.TWODECIMALPLACES: N MFIN.UNSCHEDULED: N PLAN.MULTIUFE: N

SCENARIO.DEATHBENEFiTOPTION: Level FROM 1 THRU 55 SCENARIO.DESIREDCASHVALUE: 1000 SCENARIO.DESIREDCASHVALUE::DURATION: 99 SCENARIO.DESIREDCASHVALUE::ROUNDFACTOR: 1.0 SCENARIO.DESIREDCASHVALUE::TOLERANCE: 1000 SCENARIO.DISTRIBUTION: Varies FROM 1 THRU 55 SCENARIO.DISTRIBUTIONr.FUNDTYPE: Basis FROM 1 THRU 55 SCENARIO.DISTRIBUTION:TAXFUNDING: N SCENARIO.DOLITEST: Cash Value Accumulation SCENARIO.FACEAMOUNT: 1000000 FROM 1 THRU 55 SCENARIO.INSURANCEACCOUNTING: N SCENARIO.LOANINTEREST: Borrow SCENARIO.MORTALITYADJUSTMENT: N SCENARIO.OWNER AXRATE: 28 SCENARIO.PREMIUM: Sβvβnpay FROM 1 THRU 7 SCENARIO.PREMIUMMODE: Annual SCENARIO.SEVENPAY: Yes SCENARIO.UNDERWRITINGTYPE: Full Underwriting SCENARIO.WITHDRAWALMAXIMUM: Basis

APPENDIX F ILLUSTRATIVE PRIVATE OFFERING MEMORANDUM

THE ATTACHED MEMORANDUM CONSTITUTES AN OFFER ONLY TO THE ENTITY OR INDIVIDUAL TO WHOM IT IS ORIGINALLY DELIVERED.

THE OFFEREE, BY ACCEPTING DELIVERY OF THIS MEMORANDUM, AGREES TO RETURN IT AND ALL OTHER DOCUMENTS RECEIVED BY THE OFFEREE IF THE OFFEREE DOES NOT PURCHASE THE CONTRACT OFFERED.

THIS MEMORANDUM DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY STATE OR JURISDICTION IN WHICH, OR TO ANY PERSON TO WHOM, SUCH AN OFFER OR SOLICITATION WOULD BE UNLAWFUL.

I UNDERSTAND THAT ALL PURCHASERS MUST COMPLETE AND SUBMIT A "PURCHASER QUESTIONNAIRE AND AGREEMENT" DEMONSTRATING THEIR FINANCIAL MEANS AND SOPHISTICATION. I ALSO UNDERSTAND THE INSURANCE COMPANY IS COMPLETELY FREE TO REJECT ANY APPLICATION.

Receipt of the Private Offering Memorandum is acknowledged:

Signature Date

Print Name

INTRODUCTION

The variable life insurance policy and the interests in the Separate Account in which Account Values of said policy are held (together, the "Policy") described in this private placement memorandum ("Memorandum") is issued by John Hancock Variable Life Insurance Company (the "Company")- The Company is offering the Policy only to qualified investors, including individuals, corporations, partnerships, sole proprietorships, associations, trusts, and other similar or related entities, who satisfy certain suitability and financial standards. The Policy provides insurance on the life of a person in whom the Policy Owner has an insurable interest. The Policy may be used in connection with funding corporate liabilities. The Policy is designed to provide flexibility in connection with premium payments and death benefits by permitting the Policy Owner, subject to certain restrictions, to vary the frequency and amount of premium payments and to increase or decrease the death benefit payable under the Policy. This flexibility allows a Policy Owner to provide for changing insurance needs under a single insurance policy. A Policy may also be surrendered for its Cash Surrender Value.

Premiums are flexible as to both timing and amount, subject to certain limits. See "Payments". Account Values are held in one or more Separate Accounts. Each Separate Account is an investment account separate from the Company's general account and any of its other separate accounts. The funds in a Separate Account will be invested in investment alternatives offered under the Policies.

A Policy Owner will have several investment alternatives from which to choose. Net Premiums may be allocated among any of the available "Subaccounts" offered with this Policy. Each Subaccount of the Separate Account invests in shares or units of a portfolio of securities managed by one or more Portfolio Managers (the "Portfolios" or "Underlying Portfolios"). The investment objectives and policies of each Portfolio will affect the return of the corresponding Subaccount and the degree of market and financial risk to which it is subject. Additional Subaccounts may be added in the future. The Account Value under the Policy will, and the Death Benefit may, vary with the investment performance of the Subaccounts. The Policy Owner bears the entire investment risk under the Policy. The Policy includes no minimum guaranteed Account Value for premiums paid.

The Policy has not been and will not be registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended, and the rules promulgated thereunder (the "1933 Act") or the securities laws of any state or jurisdiction. The Policy is being offered and sold in reliance upon an exemption from the registration requirements of the 1933 Act for offers and sales of securities which do not involve any public offering. The Policy may not be sold or otherwise transferred except as permitted under the 1933 Act and, then only with our prior consent. Purchasers should be aware that they will be required to bear the financial risk of this investment for an indefinite period of time.

The Separate Account has not been and will not be registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (the "1940 Act") in reliance on an exception therein. Interests in some of the Underlying Portfolios have not been registered under the 1933 Act, and those Underlying Portfolios also have not been registered under the 1940 Act.

Neither the Separate Account nor the Portfolios has been or will be registered with the Commodities Futures Trading Commission. Neither the Company nor the Advisers will be registered as a commodity pool operator. The Policy has not been and will not be recommended by any federal or state securities commission, regulatory authority or the Commodities Futures Trading Commission. Furthermore, none of these authorities have confirmed the accuracy or adequacy of this document. Any representation to the contrary is a criminal offense.

OFFERING RESTRICTIONS

The Policy is suitable only for individuals and entities of substantial economic means. Each prospective purchaser will be required to represent that he/she/it is familiar with and understands the fundamental risks and financial hazards of purchasing the Policy and he/she/it meets certain minimum suitability and financial standards. See "Availability of the Policy".

Prospective purchasers are not to construe the contents of this memorandum as legal or tax advice. Each prospective purchaser should seek independent advisory services with regard to the legal, economic, tax and related matters concerning the purchase of the Policy.

No oral or written information in whatever form is to be employed in the offering of the Policy except for this Memorandum, the Policy, and information provided by registered representatives authorized to sell the Policy in response to any questions by a purchaser. No person has been authorized to make any representations or give any information not contained or referred to herein.

The Policy is designed to be tailored to the Policy Owner. Some of the terms and conditions in the Policy will vary to reflect discussions involving consulting actuaries, business consultants, and other counsel to tailor the terms of the Policy to the particular needs and circumstances of the Policy owner. To permit an informed decision regarding the interests of a prospective purchaser, the company will make additional information regarding Policy design available to prospective purchasers upon request. This memorandum contains a summary of the provisions of certain material documents pertaining to the Underlying Portfolios. However, this is a summary only and does not purport to be complete. Prospective purchasers are urged to read the entire text of all documents with care.

In connection with the offering and sale of the Policy, the company reserves the right to reject any Policy application.

SPECIAL WARNINGS

Some of the Subaccounts (the "Exempt Subaccounts") are illiquid and there may be lengthy delays in having Policv benefits (surrenders, loans, death benefits) paid. You should consider the Policy to be an illiquid investment.

Investing in a Policy involves risks including the possible loss of your entire investment. Policy Owners should have the financial ability to withstand the complete loss of their investment Policy Owners should have other substantial assets to meet their financial needs.

Your benefits (including life insurance) are not guaranteed, but may be entirely dependent on the investment performance of the Subaccounts you select. Poor investment performance could cause your Policy to lapse and you could lose your insurance. DEFINITIONS

"Account Value" is the sum of the value attributable to the Policy in all Subaccounts plus the Policy's Loan Account.

"Age" means on any policy anniversary, the age of the person in question at his or her birthday nearest that date. That age will apply until the next policy anniversary.

The "Band 1 Premium" and "Band 2 Premium" are annual amounts specified in the Policy which are used in determining Policy charges.

"Band 3 Premiums" are all premiums received in a Policy year in excess of the sum of the Band 1 Premium and Band 2 Premium amounts.

"Cash Surrender Value" is the Account Value less any Surrender Charges that apply.

"Coverage Segment" a schedule of Face Amounts, which may vary by policy year. The Face Amounts scheduled when the Policy is issued are Coverage Segment 1. Additional Coverage Segments may be added after issue, as described in the Section of the Memorandum entitled "Face Amount Increases".

"Death Benefit" means the amount applicable in the determination of Death Benefit Proceeds. It is determined by the scheduled Face Amounts, the Death Benefit Option chosen, and any increases for compliance with applicable federal tax law.

"Death Benefit Proceeds" means the amount payable on death of the insured while the policy is in Full Force. They are equal to the Death Benefit less any outstanding Policy Debt and unpaid charges.

"Exempt Fund" means an underlying investment account that is exempt from registration under the Investment Company Act of 1940 by Section 3(c)(1 ) or 3(c)(7) of that Act. Additional detail regarding the Exempt Funds can be found in the Supplement Pages to this Offering Memorandum.

"Exempt Subaccount" means a Subaccount invested in an Exempt Fund. The following definitions apply to the Underlying Portfolios of certain Exempt Subaccounts:

Net Exempt Fund Value: The Exempt Fund Value on the Full Liquidity Date minus the Liquidity

Reserve Value.

Liquidity Reserve Factor: A factor determined by the Exempt Fund to indicate the portion of the value held in reserve at time of surrender until the final audited result of the fund are available.

Liquidity Reserve Value: The Exempt Fund value times the Liquidity Reserve Factor.

Investment Date: The date funds can be allocated to the Exempt Fund.

Investment Notice Period: The number of days before the Investment Date you must give notice to us that you intend to allocate funds to the Exempt Fund.

Full Liquidity Date: The date when the full value of the Exempt Fund is available for surrender.

Full Liquidity Notice Date: The number of days before a Full Liquidity Date you must give notice to us that you intend to surrender the full value of the Exempt Fund.

Full Liquidity Deferral Period: The number of days after a Full Liquidity Date the payment of the Net

Exempt Fund Value may be deferred.

Partial Liquidity Date: A date when an amount less than the full value of the Exempt Fund is available for withdrawal or transfer.

Partial Liquidity Factor: A factor applied to the Exempt Fund to indicate the portion of the Fund available for withdrawal or transfer.

Partial Liquidity Notice Date: The number of days before a Partial Liquidity Date you must give notice to us that you intend to withdraw or transfer funds from the Exempt Fund.

Partial Liquidity Deferral Period: The number of days after a Partial Liquidity Date the withdrawal or transfer may be deferred.

The time periods, dates and factor values can be found in the Supplement Pages of this Offering Memorandum for each Exempt Subaccount to which they apply. The application of these factors is further described in the Sections of this Memorandum entitled "Loans", "Surrenders and Withdrawals", and "Deferral of Determinations and Payments".

"Face Amount" is the amount which will be shown as the Face Amount on the specification page of the Policy, which may include scheduled increases.

"Fund" means either a Registered Fund or an Exempt Fund.

"In Full Force" means that the policy has not lapsed as described the "Grace Period and Lapse" Section of this Memorandum or terminated due to "excess indebtedness" as described in the "Loans" Section of this Memorandum.

"Insured" means the person upon whose life the Company issues a Policy.

"Loan Account" is an account to which amounts are transferred from the Subaccounts and held as collateral for Policy Debt.

"Net Premium" is the Premium paid less premium charges.

"Non-Exempt Subaccount" means a Subaccount that invests in a Registered Fund.

The "Planned Premium" is the amount identified in the application, or later changed by Written Request.

"Policy Date" is the date from which we measure policy anniversaries and Coverage Segment years and determine Processing Dates.

"Policy Debt" or "Indebtedness" means the unpaid balance of a policy loan, including accrued interest.

"Portfolio" or "Underlying Portfolio" means each series or investment pool of a Fund that corresponds with the specific investment objective of a Subaccount.

"Processing Date" is each date after the initial Policy Date on which the Company deducts periodic charges from the Account Value. The number of months between Processing Dates is specified in the Policy. The first Processing Date occurs that number of months after the Policy Date. A Policy month begins on the day in each calendar month which corresponds to the day of the calendar month on which the Policy Date occurred. If the Policy Date is the 29th, 30th, or 31st day of a calendar month, then for any calendar month which has fewer days, the first day of the Policy month will be the last day of such calendar month.

"Registered Fund" means a series type mutual fund registered under the Investment Company Act of 1940 as an open-end diversified management investment company.

"Separate Account" means a separate investment account, established by us pursuant to applicable law, in which you are eligible to invest under the Policy.

"Service Center" is where we provide service to you. The name of our Service Center is the Magnastar Service Center, and its mailing address and telephone number are shown on the policy and in this Memorandum.

"Subaccount" means each specified division, with a specific investment objective, of a Separate Account. A Subaccount will invest in the Portfolio of a Registered Fund or an Exempt Fund that has corresponding investment objective.

"Supplement Pages" are an attachment to this Offering Memorandum that summarize Policy Charges specific to the Policy being offered for sale, as well as, payment, withdrawal, valuation time periods and dates that apply to any Exempt Subaccounts being offered.

"Valuation Date" means, for any Non-Exempt Subaccounts, any date on which we are open for business, the New York Stock Exchange is open for trading, and on which the Registered Fund values its Portfolio. Valuation Dates for Exempt Subaccounts may be less frequent than daily. (See "Allocation to Subaccounts" Section of this Memorandum).

"Valuation Period" means the period of time from the beginning of the day following a Valuation Date to the end of the next following Valuation Date. "We", "Us", and "Our" refer only to the insurance company as named on the cover of this Memorandum.

"Written Request" means, unless otherwise stated, a request in writing, signed by you, and received by us at our Service Center.

"You" and "Your" refer to the reader of this Memorandum. For purposes of this Memorandum, we've assumed that the reader will be the Policy Owner (i.e., the person who exercises the rights and privileges of the Policy, or who exercises them on behalf of a trust or other entity). That may not in fact be the case. If the reader is not to be the Policy Owner, "You and "Your" shall be read as referring to the Policy Owner.

INTRODUCTION

AVAILABILITY OF THE POLICY

The Policies and the Subaccounts of the Separate Account have not been registered with the SEC in reliance on exemptions available with respect to offers to persons who meet certain suitability and financial standards. The Policies will therefore be offered for sale only to individuals and entities who are both accredited investors AND qualified purchasers within the meaning of the 1933 Act and the 1940 Act. Each applicant must fill out, in addition to an application form, an investor questionnaire designed to elicit information necessary to determine if the applicant is both an "accredited investor" and a "qualified purchaser". Each Policy Owner must be a qualified purchaser initially and at the time of each Premium Payment. If the Policy Owner ceases to be an "accredited investor" as defined in Rule 506 under Regulation D of the 1933 Act the Company may refuse to accept additional premium payments.

The Exempt Subaccounts may be illiquid and there may be lengthy delays in having Policy benefits (surrenders, loans, death benefits) paid. Policy Owners should consider the Policy to be an illiquid investment.

Investing in a Policv involves substantial risks including the possible loss of your entire investment. Policy Owners should have the financial ability to withstand the complete loss of their investment without affecting the lifestyle to which they are accustomed. Policy Owners should have other substantial assets to meet their financial needs.

ACCREDITED INVESTORS AND QUALIFIED PURCHASERS

Accredited investors are defined in Regulation D under the 1933 Act. For natural persons, this determination is based in part on the income and net worth of the investor. A natural person must have individual income of more than $200,000 ($300,000 including spouse's income) in each of the two most recent years and expected in the current year, or have net worth in excess of $1 million. Entities, including trusts, corporations and partnerships, not formed specifically for the purpose of acquiring the Policy, may qualify as accredited investors if they have total assets in excess of $5 million.

Qualified purchasers are defined in the 1940 Act. This determination is based in part on the amount of "investments" owned by the investor. A natural person and a "family company" (including a trust for family members), must have at least $5 million of "investments". Most other entities must own and invest on a discretionary basis at least $25 million of investments or must be owned exclusively by qualified purchasers. However, family companies and other entities that have been formed for the specific purpose of acquiring and holding a Policy will not be considered qualified purchasers unless each beneficial owner independently meets the financial criteria for a qualified purchaser.

"Investments" are defined by the SEC for this purpose as including securities, real estate held for investment purposes, commodity interests and physical commodities held for investment purposes, financial contracts entered into for investment purposes, cash and cash equivalents.

The Company in its sole discretion will determine whether a natural person or entity qualifies as an accredited investor or qualified purchaser. [Generally, this is a requirement that the insurance company wants to control because it owns (has responsibility for) the separate account]

THE LIFE INSURANCE COMPANY

We are John Hancock Variable Life Insurance Company ("JHVLICO"), a stock life insurance company chartered in 1979 under Massachusetts law. We are authorized to transact a life insurance and annuity business in all states other than New York and in the District of Columbia. We began selling life insurance policies in 1980. We are regulated and supervised by the Massachusetts Commissioner of Insurance, who periodically examines our affairs. We also are subject to the applicable insurance laws and regulations of all jurisdictions in which we are authorized to do business. We are required to submit annual statements of our operations, including financial statements, to the insurance departments of the various jurisdictions in which we do business for purposes of determining solvency and compliance with local insurance laws and regulations. The regulation to which we are subject, however, does not provide a guarantee as to such matters.

We are a wholly-owned subsidiary of John Hancock Life Insurance Company ("John Hancock"), a Massachusetts stock life insurance company. On February 1, 2000, John Hancock Mutual Life Insurance Company (which was chartered in Massachusetts in 1862) converted to a stock company by "demutualizing" and changed its name to John Hancock Life Insurance Company. As part of the demutualization process, John Hancock became a subsidiary of John Hancock Financial Services, Inc., a newly formed publicly-traded corporation. John Hancock's home office is at John Hancock Place, Boston, Massachusetts 02117.

Magnastar Service Center

We provide service to you on these policies through the Magnastar Service Center, at the address and phone number shown below.

Magnastar Service Center P.O. Box 724567 Atlanta, GA 31139 (877) 297-6349

THE SEPARATE ACCOUNT

The assets of the Separate Account are the property of the insurance company. They are available to cover liabilities of our general account only to the extent that the assets of the Separate Account exceed the liabilities of the Separate Account arising under the variable life insurance policies supported by the Separate Account. The Separate Account will hold the account values attributable to a number of different Policies and Policy Owners.

A Separate Account is divided into several divisions called Subaccounts. Each Subaccount invests in a corresponding Underlying Portfolio of a Fund. The investment performance of a Policy depends on the performance of the Underlying Portfolios for the Subaccounts chosen. The income, gains, or losses, realized or unrealized, are credited to or charged against the assets held in the Separate Account without regard to the Company's other income, gains, or losses.

When permitted by law, and subject to any required notice to you and approval by regulatory authorities or Policy Owners, we have the right to make the following changes:

Establish additional Subaccounts

Substitute new Subaccounts,

Merge existing Subaccounts,

Eliminate Subaccounts,

Close existing Subaccounts to new investments,

Change the investment policy of a Subaccount,

Register or de-register the Separate Account under the Investment Company Act of 1940, and

Change the name of the Separate Account.

We may operate a Separate Account as a management investment company or a unit investment trust, either registered or exempt from registration under the Investment Company Act of 1940, or in any other form permitted by law. We will notify you if any change results in a material change in the Underlying Portfolios of Subaccounts to which you allocated Account Value for the Policy. You may then make a new election under the Subaccount Investment Option of the Policy and the "Transfer" and "Special Considerations for Allocations to Exempt Subaccounts" Sections of this Memorandum.

An Exempt Subaccount is one that invests in shares (or units) of Underlying Portfolios that are not registered under federal securities laws, and these portfolios can be expected to hold illiquid investments. Accordingly, the Exempt Subaccounts are illiquid and there may be lengthy delays in having Policy benefits (surrenders, loans, death benefits) paid from these Subaccounts.

Generally, we process premiums as of the day when we receive the payment at the Magnastar Service Center. However, certain Exempt Subaccounts may not have an investment Date on the date premiums are paid. For Payments designated for such Exempt Subaccounts, we must receive notice no later than the Investment Notice Date for such Subaccount. The Net Premium will be deposited in the Money Market Portfolio until the next Investment Date for such Exempt Subaccount. Similarly, requests for reallocation of existing Account Values to an Exempt Subaccount must be made by the Investment Notice Date for such Subaccount and will then be processed on the next Investment Date for such Subaccount.

Because of the limited marketability of assets held in Funds associated with Exempt Subaccounts, withdrawals from Exempt Subaccounts are only permitted if the request is made by a Partial Liquidity Notice Date and are subject to maximum limitations shown by the Partial Liquidity Factor for such Fund. The withdrawal will then be made as of the next Partial Liquidity Date for the Exempt Subaccount.

THE FUNDS

Each Underlying Portfolio has a different investment objective that it tries to achieve by following its own investment strategy. The objectives and policies of each Underlying Portfolio affect its return and its risks.

WITH THIS MEMORANDUM, YOU MUST RECEIVE THE CURRENT PROSPECTUS OR OFFERING MEMORANDUM FOR EACH UNDERLYING PORTFOLIO. THIS MEMORANDUM IS NOT VALID UNLESS ACCOMPANIED BY THESE PROSPECTUSES AND OFFERING MEMORANDA. YOU SHOULD READ EACH UNDERLYING PORTFOLIO PROSPECTUS OR OFFERING MEMORANDUM. THERE CAN BE NO ASSURANCE THAT ANY FUND OR PORTFOLIO WILL ACHIEVE ITS INVESTMENT OBJECTIVE.

VST Portfolios

John Hancock Variable Series Trust I (the "VST)" is a diversified open-end management investment company registered under the 1940 Act, as amended. The Fund is organized as a Massachusetts business trust. The Fund consists of Portolios covering a wide range of investment types, (including domestic equities, foreign equities, fixed income, and hybrid or balanced portfolios) and managed by a wide range of investment organizations. Within the domestic equity arena, the VST gives you access to growth, value, and blend investment styles in each of the three equity capitalization ranges (large-, mid-, and small-cap).

The Trust offers investment choices, or funds, for the variable annuity and variable life insurance contracts ("variable accounts") of:

• John Hancock Life Insurance Company

• John Hancock Variable Life Insurance Company, and

• Investors Partner Life Insurance Company

Additional information about the Portfolio managers and VST can be found in the VST prospectus and Statement of Additional Information. M Fund Portfolios

M Fund, Inc. (the "M Fund") was incorporated in Maryland on August 11 , 1995 and is registered under the 1940 Act as an open-end management investment company. M Fund consists of separate diversified investment Portfolios managed by independent investment organizations.

Additional information about the Portfolio managers and the M Fund Portfolios can be found in the M Fund prospectus and Statement of Additional Information.

Magnastar Funds

The Magnastar Funds are a group of investment portfolios that may be Exempts Funds or Registered Funds. Each of the Magnastar Funds has its own investment objective and policies. Additional information about the Magnastar Funds can be found in the prospectus and Statement of Additional Information or the offering memorandum for each Fund.

The Magnastar Funds may be Exempt Funds: they may have severe restrictions on the timing of premium allocations, withdrawals and surrenders, transfers, loans, and payment of death benefit proceeds. These restrictions are referenced in various places in the Memorandum. Also, a summary of these limitations is provided in the Supplement Pages of the Memorandum.

THE INVESTMENT ADVISERS

There are two Investment Advisers to the Funds (the Advisers):

VST Investment Adviser

John Hancock Life Insurance Company ("John Hancock") is the investment adviser of the John Hancock Variable Series Trust I (the "VST"). John Hancock is a Massachusetts stock life insurance company. On February 1 , 2000, John Hancock changed its form of organization and its name. Prior to that date, it was John Hancock Mutual Life Insurance Company, a mutual life insurance company that was chartered in 1862. All of the Portfolios of the VST (except the Money Market Portfolio) have subadvisers. The VST pays John Hancock a fee for managing each Portfolio. Out of that fee, John Hancock pays a fee to the Portfolio's subadviser for it's services.

M Financial Investment Advisers, Inc.

M Financial Investment Advisers, Inc. (MFIA), located at River Park Center, 205 SE Spokane Street, Portland, Oregon 97202, is the investment adviser to the M Funds and Magnastar Funds. MFIA has been registered as an investment adviser under the Investment Advisers Act of 1940, as amended (the Advisers Act) since November 1995.

MFIA is responsible for selecting Portfolio managers who have shown good investment performance in their areas of expertise to manage the Funds' Portfolios. MFIA has ultimate responsibility to oversee the Portfolio managers and will make recommendations with regard to hiring, termination and replacement. MFIA also supervises the various other service providers to the M Funds and Magnastar Funds, including the custodians, transfer agents, administrators, and accounting service agents.

Each Fund that comprises the M Funds and Magnastar Funds pays MFIA a fee for its services. Out of this fee, MFIA pays each sub-adviser a fee for its services. THE INSURANCE POLICY

EFFECTIVE DATE OF COVERAGE

The effective date of Policy coverage is subject to the Company's approval of the application, the payment of the minimum initial premium specified in the Policy and the Policy Owner's acceptance of the Policy and any riders attached. The policy will take effect only if, at the time of the Policy Owner's acceptance of delivery of the Policy, all persons insured under the Policy continue to be insurable in accordance with our underwriting rules in effect. We must receive the minimum initial payment on or before the date the Policy becomes effective. The initial premium is payable either at our Service Center or to our agent.

DEATH BENEFIT

We will pay the Death Benefit Proceeds upon receipt, at our Service Center, of due proof that the Insured died while this policy was In Full Force, subject to the terms and conditions of the policy. The Death Benefit of the Policy is determined by the scheduled Face Amount(s) for each Coverage Segment, the Death Benefit Option currently in effect, and any increase required to ensure that the Policy will continue to qualify as life insurance under federal law. The Death Benefit Proceeds equal the Death Benefit of the Policy less any Policy Debt and less any unpaid charges, all determined as of the date of death.

The Death Benefit of the Policy depends in part on the Death Benefit Option in effect. The Option is initially chosen on the Policy application. The two options offered are:

Option A: The Death Benefit is the greater of the scheduled Face Amounts for all Coverage Segments or the amount required to qualify as life insurance as described below. Option B: The Death Benefit is the greater of the scheduled Face Amounts for all Coverage Segments plus the Account Value on the date of death of the Insured, or the amount required to qualify as life insurance as described below.

Under both options, the Death Benefit will be increased if necessary to ensure that the Policy will continue to qualify as life insurance under Section 7702 of the Internal Revenue Code. The Death Benefit will never be less than the Account Value of the Policy multiplied by the minimum percentage required by Section 7702 of the Internal Revenue Code.

Under Section 7702 of the Internal Revenue Code, a Policy will generally be treated as life insurance for federal tax purposes if at all times it meets either (1 ) a "guideline premium" test or (2) a "cash value accumulation" test. In general, the cash value accumulation test will allow you to make higher premium payments during the Policy's early years. The guideline premium test will allow you to maintain a higher Account Value in relation to the insurance benefit in the later Policy years. Either the guideline premium test or the cash value accumulation test must be chosen before the Policy is issued.

If you elect the Guideline Premium Test, and the Company determines that the premiums paid and applied to the Policy would cause the Policy to be in violation of Section 7702 of the Internal Revenue Code or any successor provision, we reserve the right to either (i) refund the excess premium (unless such premium is necessary to continue coverage) or (ii) add or increase the Death Benefit under the Policy, retroactively if necessary (and require evidence of insurability for such increase), so that at no time is the Death Benefit less than the lowest amount necessary to ensure or maintain qualification of the Policy as a life insurance contract for federal tax purposes, notwithstanding any other provisions of the Policy to the contrary.

If you elect the Cash Value Accumulation Test, we reserve the right to modify the Required Additional Death Benefit Factors, retroactively if necessary, to ensure or maintain qualification of the Policy as a life insurance contract for federal tax purposes, notwithstanding any other provisions of the Policy to the contrary.

Assuming the death benefit does not increase in order to meet the requirements of Section 7702 of the Internal Revenue Code, and assuming the same Face Amount and premium payments under both options, the total Death Benefit will be higher under Option B than the death benefit under Option A. The insurance charges will be higher under Option B to compensate the Company for the additional insurance risk. Because of that, the Account Value will tend to be higher under Option A than under Option B for the same premiums and Face Amounts.

Change of Death Benefit Option

You may request a change in the Death Benefit Option on Written Request a maximum of once per Policy year. The change will be effective on the Processing Date on or following the day we receive your Written Request at our Service Center. If the Death Benefit Option is changed from Option A to Option B, the Face Amount for the current year and all future years will decrease by an amount equal to the Account Value just before the effective date of the change. If the Death Benefit Option is changed from Option B to Option A, the Face Amount will increase by an amount equal to the Account Value just before the effective date of the change.

Change of Face Amount

Subject to our approval, you may change the Face Amount schedule if such request is made:

• during the lifetime of the Insured;

• not more than 30 days before any Policy anniversary; and

• in writing while the Policy is In Full Force.

Face Amount Increasβfxβ "Face Amount Increase"}

You may request an increase in the Face Amount of the Policy by providing a Written Request, along with satisfactory evidence of insurability at least 30 days in advance of any Policy anniversary. If all applicable conditions are met and we approve your request for a Face Amount increase, we will increase your Policy's Face Amount effective on the first Processing Date after you meet all applicable conditions. A Face Amount schedule for a new Coverage Segment will be issued for the amount of the increase. An increase in the Face Amount will be allowed only if it results in a Death Benefit increase no less than our minimum limits in effect on the date of the request. An increase in the Face Amount of the Policy may have the following consequences that you should consider:

• additional cost of insurance charges and other charges as shown in the Policy;

• a new surrender charge schedule applicable to the amount of the increase;

• a new suicide and contestability period applicable only to the amount of the increase;

• a change in the life insurance premiums permitted under the Guideline Premium Test of Section 7702 of the Internal Revenue Code;

• a change in the minimum death benefit factors under the Cash Value Accumulation Test of section 7702 of the Internal Revenue Code if the new Coverage Segment is in a more favorable Premium Class than the initial Coverage Segment; and application of a new seven-year testing period for modified endowment contract status.

Face Amount Decrease fxe "Face Amount Decrease"}

You may request a decrease in the Face Amount of the Policy by providing Written Request. The effective date of the decreased Face Amount will be the later of the requested effective date or the first Processing Date on or following the date we approve the Written Request. If there is more than one Coverage Segment in effect, the decrease will apply first to the most recent Coverage Segment and, as necessary, to successively earlier Coverage Segments. A decrease in the Face Amount of your Policy may have consequences that you should consider:

• a change in the total Policy cost of insurance charges;

• a surrender charge may apply to the amount of the decreased Face Amount; and

• possible adverse tax consequences or a forced payout of a portion of the Account Value. We recommend you consult your tax advisor before requesting a decrease in scheduled Face Amount. You may not decrease the Face Amount before the second anniversary of the effective date of a Coverage Segment.

PREMIUMS

Premiums are payable at our Service Center.

Premiums may be paid at any time before the Insured attains Age 100, subject to the premium limitations below. The Planned Premium{xe "Planned Premium"} is the amount you identified in the application, or later changed by Written Request, which you plan to pay. Payment of the Planned Premium does not guarantee that the Policy will remain in force. A premium reminder notice for Planned Premiums will be sent to you at the beginning of each payment interval.

Any payment received prior to the Policy Date will be processed as if received on the Policy Date. All other payments will be processed as of the day in which the payment is received at our Service Center. Exempt Subaccounts will usually restrict the dates on which premiums may be allocated to the Subaccount. You must give us notice in advance of a payment into an Exempt SubaccountPayments designated for Exempt Subaccounts would be deposited in the Money Market Portfolio until the next date on which the designated Subaccount can accept new premiums.

When we receive a payment, we first deduct any amount specified by you as payment of accrued interest then due on Policy Debt and any amount specified as repayment of Policy Debt. See the "Loans" Section of this Memorandum. The remainder will constitute Premium. We then deduct all of the applicable charges as described under "Calculation of Premium Loads" below. The remainder will constitute Net Premium.

You may pay Premiums in an amount other than the Planned Premium at any time while the Policy is In Full Force. At our option, we may either (i) refuse any Premium that causes the Policy to be in violation of Section 7702 of the Internal Revenue Code or any successor provision (unless such Premium is necessary to continue coverage), or (ii) require evidence of insurability for any increase in the Required Total Death Benefit necessitated by our acceptance of such Premium. We will require evidence that you are an accredited investor and a qualified purchaser at the time you make any Premium Payment.

Calculation of Premium Loads

A premium load may be deducted from each Premium under the Policy prior to allocation of the Net Premium to your Account Value. The premium load may reflect a portion of distribution and administrative costs and the cost of state premium and federal DAC taxes. The premium taxes vary from state to state, and will be determined based on the state in which the Policy is issued. If you elect to amortize tax and distribution costs, initial premium loads will be lower than would otherwise apply but later Policy charges will be higher.

Premium load factors vary depending on the amount of Premium and the year of payment. Premiums received in the first Policy year, up to the Band 1 Premium amount will be charged the first year Band 1 load. First year Premiums in excess of the Band 1 Premium, up to a maximum additional amount equal to the Band 2 Premium, will be charged the first year Band 2 load. First year Premiums in excess of the sum of the first year Band 1 Premium and Band 2 Premium amounts will be charged the Band 3 load.

For Premiums received in each subsequent year, premium loads will be calculated on the following basis: 1 ) If, in any of the previous four Policy years, total Premiums paid were less than the Band 1 Premium, the new Premium will first be allocated to the oldest such year, up to the amount of such difference. The Band 1 load for that year will be applied to the portion of the Premium allocated to that year.

2) The remainder of the Premium will be allocated in the same fashion successively to each more recent year in which the Band 1 Premium exceeded the premiums paid. The Band 1 load for each such year will be applied to the portion of the Premium allocated to that year.

3) The current year Band 2 load will be charged to any remaining excess of the Premium over the Band 1 Premium for the current year, up to the Band 2 Premium amount.

Remaining Premiums in excess of the sum of the Band 1 and Band 2 Premium will be charged the Band 3 load for the current year.

If the Policy has more than one Coverage Segment, the Policy Total Band 1 Premium and Policy Total Band 2 Premium are defined as the sum of the Band 1 Premiums and Band 2 Premiums respectively for all Coverage Segments. Premiums received up to the Policy Total Band 1 Premium will be allocated for the purpose of determining the applicable Band 1 Premium loads in the following order: first to the Band 1 Premium of the most recently added Coverage Segment; then to the Band 1 Premium of successively earlier Segments.

The premium load applied to any Policy Total Band 2 Premium received will equal the weighted average of the current Band 2 Premium loads. The premium load applied to any Premium received in excess of the sum of the Policy Total Band 1 and Policy Total Band 2 Premiums will equal the weighted average of the Band 3 Premium Loads. These composite loads for each of Band 2 and Band 3 will be weighted according to the initial Face Amount for each Coverage Segment.

The Policy Specifications of the Policy will show the actual premium load factors applicable to the Policy.

GRACE PERIOD AND LAPSE

If the Account Value less Policy Debt and less any Surrender Charge on a Processing Date is insufficient to cover the current deduction described in the "Charges" Section of this Memorandum, a grace period of 61 days from the date a notice is sent to you will be allowed for the payment of sufficient Premium to keep the Policy In Full Force.

At the start of the grace period, we will send notice to you at your last known address and to any assignee of record. The notice will state the due date and the amount of premium required for the Policy to remain In Full Force. You must pay a minimum of three times the monthly charges due when the insufficiency occurred, plus the applicable Premium Load. Premiums we receive during the grace period will be applied to the Policy according to your most recent premium allocation instructions. There is no penalty for paying a Premium during the grace period. When payment is received, any charges which are past due and unpaid will be deducted from the Account Value.

The Policy will remain In Full Force^'during the grace period. If sufficient Premium is not paid by the end of the grace period, a lapse will occur. If the Insured dies during the grace period, the Death Benefit Proceeds will be reduced by any overdue charges. Upon lapse, the Policy will terminate with no value. ACCOUNT VALUE

The Account Value is the sum of (a) and (b) below:

(a) The sum of the value of all Subaccounts. The value of each Subaccount is equal to the number of shares in such Subaccount at the end of the Valuation Period multiplied by the unit value of such Subaccount at the end of the Valuation Period.

(b) The amount of any Loan Account (see the "Loans' section of this Memorandum).

Number of Shares in Subaccounts

When transactions are made that affect a Subaccount, dollar amounts are converted to number of shares. The number of shares for a transaction is determined by dividing the dollar amount of the transaction by the unit value of the Subaccount as of the end of the Valuation Period in which the transaction occurs.

The number of shares increases when:

(a) any portion of a Net Premium is credited to that Subaccount;

(b) transfers from other Subaccounts are credited to that Subaccount;

(c) any portion of a loan is repaid and credited to that Subaccount;

The number of shares in a Subaccount decreases when:

(a) any portion of a loan is taken from that Subaccount;

(b) any portion of interest due on the Policy Debt is taken from that Subaccount;

(c) any portion of the charges described in the "Charges" section of this Memorandum is deducted from that Subaccount;

(d) any portion of a partial withdrawal is made from that Subaccount; or

(e) a transfer is made from that Subaccount to another Subaccount.

Unit Value of Subaccounts

The unit value in any Subaccount is $10.00 (ten dollars) on the first Valuation Date for the Subaccount. The unit value at the end of any subsequent Valuation Period is equal to the unit value at the end of the immediately preceding Valuation Period multiplied by the Net Investment Factor for that Subaccount for that Valuation Period.

Net Investment Factor

The Net Investment Factor is determined for each Subaccount for each Valuation Period. The Net Investment Factor reflects the investment experience of the Portfolio in which the Subaccount invests, as reported to us by the Fund administrator, and the charges assessed against the Subaccount for the Valuation Period. The Net Investment Factor is calculated as 1 plus the quantity A divided by B, where:

A is the amount of investment income and capital gains and losses (realized and unrealized) of the Portfolio; minus any amount charged against the Subaccount for taxes paid; and

B is the total value of the Subaccount at end of the prior Valuation Period.

CHARGES

We assess certain charges in connection with the Policy. These charges include the premium load, surrender charge, Policy charge, Mortality and Expense Risk charge, cost of insurance charge, and rider charges.

Premium Load

A premium load will be deducted from each Premium under the Policy prior to allocation of the Net Premium to your Account Value. The premium load varies based on when you pay the Premium, and may consist of a sales load, a tax charge for the cost of state premium and federal DAC taxes, and an administrative charge. See "Calculation of Premium Loads" above for a description of the premium load. The premium load for the Policy configuration you are considering is specified in the "Supplement Pages" of this Memorandum.

Surrender Charge

If you surrender the Policy during the first nine years of a Coverage Segment, we may assess a surrender charge. The factors used to determine the surrender charge vary by duration and are applied against the initial Face Amount of each Coverage Segment. If the Policy configuration you are considering includes surrender charges, the surrender charge factors will be specified in the "Supplement Pages" of this Memorandum. If there are increases in Face Amount after issue, each Coverage Segment will have a corresponding surrender charge.

Charges Against The Account Value

Beginning on the Policy Date and on every Processing Date we may deduct a Policy fee, a charge per $1 ,000 of initial Face Amount, a Mortality and Expense Risk Charge, and a cost of insurance charge. The monthly rates for these charges for the Policy configuration you are considering are specified in the "Supplement Pages" of this Memorandum. The amounts will be multiplied by the number of months in the Processing Period.

These charges will be deducted from Subaccounts as specified under "Premium and Charge Allocation."

Administrative Charges

The Policy fee and charge per $1 ,000 of initial Face Amount for the Policy configuration you are considering are specified in the "Supplement Pages" of this Memorandum. These rates may vary by policy year. If there are increases in Face Amount after issue through addition of a new Coverage Segment, there will be corresponding charges per $1 ,000 for that increase.

Mortality and Expense Risk Charge

The Mortality and Expense Risk Charge (M&E Risk Charge) is to compensate us for the risk we assume that mortality, expenses and other costs of providing the policy will be greater than estimated. Beginning on the Policy Date and on every Processing Date thereafter, the M&E Risk Charge is calculated as a percentage of the unloaned Account Value. The guaranteed maximum rates for this charge are specified in the "Supplement Pages" of this Memorandum. We may change the current M&E Risk Charge from time to time subject to those maximum rates.

If there is more than one Coverage Segment in force, the M&E Risk Charge percentage will be the weighted average of the rate for the current duration of each Coverage Segment. The average will be weighted by the initial Face Amounts of each Coverage Segment.

Cost of Insurance Chargefxe "M&E Risk Charge"}

A cost of insurance charge is deducted on the Policy Date and each Processing Date thereafter for each Coverage Segment. To determine the cost of insurance we multiply the amount of insurance for which we are at risk ("net amount at risk") by a cost of insurance rate.

The current cost of insurance rates will be determined by us and we may change these rates in the future, but they are guaranteed not to exceed the Guaranteed Maximum Cost of Insurance Rates shown in the "Supplement Pages" of this Memorandum. The cost of insurance rates that we currently apply are generally less than the maximum rates. The current rates take into consideration a number of factors, including the Insured's age, sex, and Premium Class. Any change in current cost of insurance rates will be made on a uniform basis for Insureds of the same sex, Issue Age, and Premium Class, including smoker status, and whose Policies have been in force for the same length of time. The total net amount at risk is the amount determined by subtracting (a) from (b) where:

(a) is the Account Value at the end of the immediately preceding Processing Period, or the Policy Date if being determined on that Date, less the Policy fee, per $1000 charges, and M&E Risk Charges due on the Policy Date or Processing Date; and

(b) is the total Death Benefit as of the Processing Date divided by the sum of one plus the equivalent of an annual effective interest rate of 4% for the number of months in the Processing Period.

When more than one Coverage Segment is in effect, the total net amount at risk will be allocated first to the most recent Coverage Segment. Any excess of the total over the current Face Amount of that Coverage Segment in then allocated to the successively earlier Coverage Segments.

Rider Charges

If you elect a Term Rider, the Enhanced Death Benefit Rider or the Return of Premium Rider, cost of insurance charges will also be deducted each Processing Date for any current additional death benefit resulting from the riders elected.

LOANS

You may borrow money from us on receipt at our Service Center of a completed form satisfactory to us assigning the Policy as the only security for the loan.

Each loan must be for at least $1 ,000. We may defer loans as provided by law or as provided under "Deferral of Determinations and Payments" Section of this Memorandum. The request for a loan from an Exempt Subaccount must be received by us no later than the Full Liquidity Notice Date for such Subaccount. The loan will then be processed as of the next Full Liquidity Date. The Full Liquidity Dates and Full Liquidity Notice Dates for the Policy configuration you are considering are specified in the "Supplement Pages" of this Memorandum.

The total Loanable Value while the Policy is In Full Force will be equal to (a) minus (b) where:

(a) is the Cash Surrender Value,

(b) is 12/N times the sum of all periodic charges described under the "Charges Against The Account Value" section of this Memorandum for the Processing Period in which the loan is obtained, where N is the number of months in a Processing Period.

The amount of current loan available will be the Loanable Value on the date of the loan less the amount of any existing Policy Debt.

The amount of the loan will be removed from the Subaccounts specified in your request. If you make no requested allocation from Subaccounts, the amount of the loan will be removed in proportion to your Policy investment in each Non-Exempt Subaccount on the date such loan is made. If you make no requested allocation and there are insufficient funds in Non-Exempt Subaccounts, you must specify the Exempt Subaccount from which the balance of the loan will be removed. Any amounts removed from an Exempt Subaccount will be subject to the Full Liquidity Date and Full Liquidity Notice Date provisions referred to above.

The maximum [did we ever decide for sure whether we are showing current, guraranteed, or both in the POM supp pages?] effective annual rates of loan interest charged on Policy Debt for Policy years under the Policy configuration you are considering are shown 'in the "Supplement Pages" of this Memorandum. If there is more than one Coverage Segment under the Policy, the rate of the loan interest charged will be the weighted average of the then current rates for each Coverage Segment (weighted by the initial Face Amount of each Coverage Segment). The loan interest charge will accrue daily and will be payable on each Policy anniversary and on the date the loan is settled. If loan interest is not paid in cash when due, the net loan charge will be deducted from Non-Exempt Subaccounts and transferred to the Loan Account according to your current instructions for allocation of Policy charges to such Subaccounts, or, in the absence of such instructions, in proportion to your current Policy investment in such Subaccounts. We will deduct the net loan charge from the Exempt Subaccounts only if the Non-Exempt Subaccounts have been exhausted.The "net loan charge" is the excess of the current Policy Debt over the current Loan Account on the Policy anniversary.

When a loan is made, the amount of the loan will be transferred to the policy's Loan Account. Upon loan repayment, the Loan Account will be reduced by the amount of the repayment. The loan repayment will be allocated to the appropriate Subaccounts as stipulated in your then current investment options. Loan repayment amounts allocated to Exempt Subaccounts will be held in the money market fund until they can be invested in the applicable Subaccount according to the Investment Notification Date and Investment Date requirements for that Subaccount.

The Policy's Loan Account balance equals the Policy Debt on any anniversary or loan repayment date. The Policy's Loan Account on any other date is a) The Loan Account on the prior Policy anniversary or loan repayment date, plus b) The amount of any additional loans since the Policy anniversary, less c) The amount of any loan repayments, plus d) The amount of any interest credited at the effective annual rate shown in the Policy.

A loan may be repaid in full or in part at any time before the Insured's death, and while the Policy is In Full Force. All payments we receive will be treated as new Premiums unless designated as a loan repayment.

When excess Indebtedness occurs, the Policy will terminate on the 61st day after the Notice Date if such excess has not been repaid by that day. "Excess indebtedness" is the amount, if any, by which Policy Debt exceeds an amount equal to the Account Value less any applicable surrender charge. "Notice Date" is the date on which notice of excess indebtedness is mailed to you and any assignee of record with us at the address last known to us. The notice will specify how much needs to be paid to keep the Policy from terminating.

SURRENDERS AND WITHDRAWALS

Upon Written Request while the Insured is living you may surrender this Policy for its Net Cash Surrender Value. If all Account Values are Non-Exempt Subaccounts, the Policy will terminate on the date the request is received. If a portion of the Account Value is in Exempt Subaccounts, the notice must be received by a Full Liquidity Notice Date, and the policy will terminate on the next Full Liquidity Date. There may be lengthy delays in receiving amounts upon surrender of Account Value in Exempt Subaccounts. Surrender will be made in accordance with the Deferral of Payments provisions of the Policy. The "Cash Surrender Value" is the Account Value less any Surrender Charge. The Surrender Charge is described above under "Charges" and specified in the "Supplement Pages" of this Memorandum for the Policy configuration you are considering.

The "Net Cash Surrender Value" is the Cash Surrender Value less any Policy Debt.

If there is a decrease in the Face Amount, the Surrender Charge will be unchanged as long as the Face Amount of the Coverage Segment immediately after the decrease is as least as great as the initial Face Amount for that Coverage Segment. If a decrease in Face Amount, including a decrease due to withdrawals, reduces the Face Amount of a Coverage Segment below the initial Face Amount for that Coverage Segment, a pro-rata Surrender Charge will be deducted from the Account Value.

The pro-rata Surrender Charge will equal A multiplied by B where A is the Surrender Charge factor for the current Coverage Segment duration; and B is the initial Face Amount for that Coverage Segment (or, if there have been previous decreases in the Coverage Segment, the lowest face amount considered in computing the Surrender Charge for a previous decrease) minus the new Coverage Segment Face Amount. You may request a withdrawal of part of the Net Cash Surrender Value in accordance with our rules then in effect. You may specify the Portfolios from which the withdrawal will be taken. In the absence of such request, the amount of the withdrawal will be removed in proportion to the policy Account Value allocation to each Non-Exempt Subaccount on the date such withdrawal is made. Each withdrawal must be at least $1 ,000.

Withdrawals from Exempt Subaccounts will only be permitted on the following basis, because of the limited marketability of assets in the Exempt Funds:

• A withdrawal request must be made by a Partial Liquidity Notice Date. The withdrawal will then be made as of the next Partial Liquidity Date for the Subaccount.

• The maximum withdrawal as of a Partial Liquidity Date is equal to the Policy's Account Value in that Subaccount as of that date multiplied by the Partial Liquidity Factor for that Subaccount.

All amounts withdrawn will be subtracted from the Account Value. Further, the Death Benefit will be affected as follows, depending on the Death Benefit Option in effect:

Option A ~ The Face Amount will be reduced by the amount necessary so that the Net Amount at Risk, as described under "Cost of Insurance Charges," is no greater than the Net Amount at Risk immediately before the withdrawal.

Option B - the death benefit will only be affected to the extent that the Account Value will be reduced by amounts withdrawn. Withdrawals will not affect the Face Amount.

We may defer paying withdrawals in accordance with the provisions described below under "Deferral of Determinations and Payments."

PREMIUM AND CHARGE ALLOCATION

The assets of the Subaccounts will be invested in shares of corresponding Portfolios. The Portfolios will be valued at the end of each Valuation Period at a fair value in accordance with applicable law. We will deduct liabilities attributable to a Subaccount when determining the value of a Subaccount. The Portfolios available on the Policy Date of the Policy are shown in the application.

Initial Premium Allocation

Generally, you have the Right to Cancel the Policy for a refund within 10 days after you receive it. Some states allow a longer period of time during which a Policy may be returned for a refund. All Net Premiums credited to the Account Value prior to the end of the Right to Cancel period (as shown on the cover page of the Policy issued) will automatically be invested in the Money Market Portfolio. On the 5th day after the end of the Right to Cancel period, we will reallocate the amount in the Money Market Portfolio in accordance with the Subaccount Investment Option, as chosen by you and shown in the application for this policy.

Future Premium Allocations

We will allocate future Net Premiums and other credits among the Subaccounts in accordance with the Subaccount Investment Option you select. You may elect to change the Subaccount Investment Option at any time. A change will apply to premiums received by us after the day in which we receive notice satisfactory to us. We reserve the right to impose limits on the number and frequency of such changes. All percentages must be expressed as whole numbers. The minimum percentage that may be allocated to any Subaccount and the maximum number of Subaccounts in which assets may be held will be subject to our administrative rules in effect at the time of election.

Policv Charges

We will allocate any Policy charges to the Subaccounts you specify. In the absence of specific instructions, we will allocate charges among the Non-Exempt Subaccounts in proportion to the value of the Policy investment in each Non-Exempt Subaccount on the date of the charge. TRANSFERS

You may elect to transfer assets held in the Subaccounts to any other Subaccount without charge. We reserve the right to impose limits on the number and frequency of such transfers. A transfer will be effective at the end of the Valuation Period in which we receive notice satisfactory to us at our Service Center. However, transfers will not be made if the policy is in a grace period.

For Exempt Subaccounts, the Valuation Period could be very long, and you might not be able to effect a transfer for a long period.

We may also restrict the number, timing and amount of transfers in accordance with our rules if your transfer activity is determined by us to be disruptive to the investment option or to the disadvantage of other policy owners. We may prohibit transfer requests made by an individual acting under a power of attorney on behalf of more than one policy owner.

SPECIAL CONSIDERATIONS FOR ALLOCATIONS TO EXEMPT SUBACCOUNTS

Net Premiums and Subaccount transfer requests to be allocated to an Exempt Subaccount will only be processed on an Investment Date for that Subaccount. To be processed on that date, we must receive the following: a) Notice no later than the Investment Notice Date of the amount of new Premium or transfer intended to be allocated; and b) For Premiums, receipt of the Premium by the Investment Date.

Because the Exempt Subaccounts may not have an Investment Date on the date we receive your payment, there may be a lengthy delay until the time when such Subaccount can accept additional payments.

Transfers out of an Exempt Subaccount will also be subject to the same limitations on timing and amount described above for partial withdrawals from the Exempt Subaccounts.

REPORTS TO OWNER

While the Policy is In Full Force, we will furnish at least annually to the Owner a statement showing the Death Benefit, the Account Value, and outstanding loans (including loan interest) as of the latest Policy anniversary, as well as payments received and charges made since the last report, and withdrawals since the last report. This report will also contain any other information required by any applicable state law or regulation. We currently plan to mail you a report each quarter showing this same information as of the end of the previous quarter.

REINSTATEMENT

If the Policy lapses (see "Grace Period And Lapse" section of this Memorandum,) it may be reinstated within 3 years after the beginning of the grace period. The date of reinstatement is the date on which we determine that the following requirements have been satisfied:

• Receipt of a written application for reinstatement;

• Receipt of evidence of insurability satisfactory to us; and

• Receipt of a payment at least equal to (i) all monthly deductions that were due and unpaid on the date of lapse, (ii) a payment sufficient to keep the Policy in force for three months (or one Processing Period, if longer) after the date of reinstatement, and (iii) the applicable Premium Load.

Receipt of evidence of insurability and sufficient payment must be satisfied within 60 days after the date we receive the application for reinstatement.

On the date of reinstatement the Death Benefit of the Policy will be the same as if no lapse had occurred and the Policy will have a Loan Account equal to the Loan Account, if any, on the date of lapse.

The Account Value on the date of reinstatement will be the Account Value on the date of lapse plus the Net Premium received in connection with the reinstatement less all applicable charges that were unpaid on the date of lapse. The surrender charges on and after the date of reinstatement will be the same as they would have been had the Policy not lapsed.

OWNER AND BENEFICIARY

Ownerfxe "Owner"}

The Owner of the Policy is as shown in the "Policy Specifications" of the Policy or in a later Written Request, if such a change is approved by us. If there are two or more Owners, they will own the Policy as joint tenants with right of survivorship. This means that if one Owner dies, ownership goes to the surviving Owners. The Owner has the sole and absolute power to exercise all rights and privileges without the consent of any other person unless you provide otherwise by Written Request. All rights of the Owner are subject to the rights of any recorded assignee or irrevocable beneficiary.

Assignments or Transfer of Ownershiofxe "Assignment"}

There are certain restrictions and limitations relating to transferability of the Policy because it is being issued without registration under the Securities Act of 1933 in reliance on an exemption from registration under Section 4(2) and Regulation D of the 1933 Act. You may not assign, sell, or transfer the Policy without our prior consent. A request for assignment or transfer must be in writing on a form that meets our needs. An assignment will take place only when accepted and recorded at our Service Center. When recorded, the assignment will take effect as of the date the Written Request was signed. Any rights created by the assignment will be subject to any payments made or actions taken by us before the change is recorded. We will not be responsible for the validity of any assignment.

Beneficiarvfxe "Beneficiary"}

The beneficiary is named by you in the application to receive the Death Benefit Proceeds. The interest of any beneficiary will be subject to any assignment. If you have named a contingent beneficiary, that person becomes the beneficiary if each primary beneficiary dies before the Insured.

The interest of a beneficiary who does not survive to receive payment will pass to the surviving beneficiaries in proportion to their share in the proceeds, unless otherwise provided. If no beneficiaries survive to receive payment, the Death Benefit Proceeds will pass to the Owner or the Owner's estate if the Owner does not survive to receive payment.

INTEREST ON PROCEEDS

In the event of the Insured's death, we will pay interest on proceeds paid in one sum from the date of death to the date of payment. The rate that will be paid will be the rate we declare for use under Option 1 of the specified in "Settlement Provisions" section of the Policy, or such greater rate as is required by law.

RIGHT TO CONVERT To A GENERAL ACCOUNT POLICY

At any time during the first two Policy years you may elect to exchange this Policy for a general account universal life policy sold by us that contains minimum interest rate guarantees and does not allow allocations to a Separate Account. The new policy will be issued on the basis of your age at the time of the exchange, your original premium class, and the duration of the Policy at the time of the exchange. The provisions determining the effective date of the exchange are the same as those that apply to the effective date of a surrender. DEFERRAL OF DETERMINATIONS AND PAYMENTS

During any period when the New York Stock Exchange is closed for trading (except for normal holiday closings) or when the Securities and Exchange Commission ("the SEC") has determined that a state of emergency exists which may make payment impractical, or the SEC by order permits postponement for the protection of our policyholders, we reserve the right to do the following, with respect to both Exempt and Non-Exempt Subaccounts: a) To defer determination of the Account Value, and if such determination has been deferred, to defer: i. determination of the Loanable Value as of the end of the day we receive the loan application at our Service Center, and payment of the loan; and ii. payment or application of any Death Benefit Proceeds. b) To defer determination, application, processing or payment of a Surrender Value or any other policy transaction dependent upon Account Value.

Additional deferrals may apply to payment of Account Values allocated to Exempt Subaccounts, because of restricted liquidity of assets in the Underlying Portfolios of ExemptFunds. a) For Policy surrenders, payment of the Account Value of an Exempt Subaccount less the Liquidity Reserve Value generally will not be made until the Full Liquidity Deferral Period following the Full Liquidity Date on which the surrender is effective. The Liquidity Reserve Value is no greater than the Liquidity Reserve Factor for such Subaccount times the Subaccount's Account Value. The final payment of the Liquidity Reserve Value generally will not be made until three months after the calendar year end coinciding with or following the surrender date. The payment at that time may be greater than or less than the initially estimated amount, based on the audited results of the Underlying Portfolio. b) For Policy loans, values from an Exempt Subaccount less the Liquidity Reserve value, as defined above, generally will not be paid until the Full Liquidity Defeπal Period following the Full Liquidity Date on which the loan is effective. c) For withdrawals and transfers to a different Subaccount, payment from the Account Value of an Exempt Subaccount generally will not be made until the Partial Liquidity Deferral Period following the Partial Liquidity Date on which the withdrawal or transfer is effective. d) For payment of Death Benefit Proceeds, payment from an Exempt Subaccount generally will not be made until the Full Liquidity Deferral Period following the Full Liquidity Date after the date we receive due proof of the Insured's death.

Except as provided in this provision We will make payment of Death Benefit Proceeds, any Net Cash Surrender Value, any withdrawal, or any loan amount within 7 days of the date it becomes payable.

CLAIMS OF CREDITORS

The proceeds and any income payments under the Policy will be exempt from the claims of creditors to the extent permitted by law. These proceeds and payments may not be assigned or withdrawn before becoming payable without our agreement.

INCONTESTABILITY

We may contest the validity of the Policy if any material misstatements are made in the application. However, we must bring any legal action contesting the validity of your original policy within two years of the Policy Date. Similarly, we may also contest benefits payable as a result of a reinstatement, increase in Face Amount or other change requiring evidence of insurability. For such actions, we must bring any legal action contesting validity within two-years beginning on the effective date of the reinstatement, increase or change.

MISSTATEMENTS

If the Policy application misstates the Insured's Age or sex, we will adjust the Face Amount and every other benefit payable on death to that which would have been purchased based on the most recent Cost of Insurance charge for the correct date of birth and/or correct sex.

SUICIDE EXCLUSION

If the death of the insured is a result of suicide within two years of the Policy Date, we will pay a limited benefit equal to the total amount of premiums paid, less any outstanding loans (including accrued interest) and less any amounts withdrawn . If the death of the insured is a result of suicide after two years from the Policy Date but within two years of any increase in Face Amount , a limited payment equal to the charges deducted for such increase will be made in lieu of such increase . If the death of the Insured is a result of suicide after two years from the Policy Date but within two years of any increase in the Death Benefit resulting from a premium payment for which we required evidence of insurability, a limited payment equal to the premium paid will be made in lieu of such increase.

THE POLICY

The written application for the Policy is attached at issue. The entire contract between the applicant and us consists of the Policy, the application, and any riders and endorsements. However, additional Written Requests or applications for Policy changes or acceptance of excess payment that are submitted to us after issue will become part of the Policy. All statements made in any application shall, in the absence of fraud, be deemed representations and not warranties. We will use no statement made by or on behalf of the Insured to defend a claim under the Policy unless it is in a written application. Policy years, Policy months, and Policy anniversaries are measured from the Policy Date.

Any reference in the Policy to a date means a calendar day ending at midnight local time at our Service Center, unless otherwise specified.

An exchange of the Policy for a new Policy on a different plan may be made by agreement between you and us in accordance with our published rules in effect at that time.

We reserve the right to make any changes necessary in order to keep the Policy in compliance with any changes in federal or state tax laws. Other changes in the Policy may be made by agreement between you and us. Only the President, Vice President, the Secretary, or an Assistant Secretary of the Company has authority to waive or agree to change in any respect any of the conditions or provisions of the policy, or to extend credit or to make an agreement for us.

OPTIONAL RIDERS TO THE POLICY

At the time you complete the application for a Policy and subject to certain requirements, you may elect to add one or more Riders to the Policy as optional insurance benefits (subject to approval of state insurance authorities). The Optional Riders are:

• Return of Premium Rider, which increases the amount of the Death Benefit by the amount of cumulative premiums paid less withdrawals taken.

• Enhanced Death Benefit Rider, which substitutes higher factors, after a Policy duration you specify at issue, for the factors used under IRC section 7702 to determine the required minimum Death Benefit.

• Enhanced Surrender Value Rider, which specifies an additional amount payable on Policy surrender in the first 9 Policy years.

• Term Rider, which specifies additional scheduled death benefit amounts on the life of the Insured.

There may be additional charges in connection with certain Riders. SETTLEMENT OPTIONS

You may choose to receive proceeds from the Policy as a single sum. This includes proceeds that become payable because of death or full surrender. Alternatively, you can elect to have proceeds of $1 ,000 or more applied to any of a number of other payment options, including the following:

• Option 1 - Proceeds left with us to accumulate with interest.

• Option 2A - Equal monthly payments of a specified amount until all proceeds are paid out.

• Option 2B - Equal monthly payments for a specified period of time.

• Option 3 - Equal monthly payments for life, but with payments guaranteed for a specific number of years.

• Option 4 - Equal monthly payments for life with no refund.

• Option 5 - Equal monthly payments for life with a refund if all of the proceeds have not been paid out.

You cannot choose an option if the monthly payments under the option would be less than $50. We will issue a supplementary agreement when the proceeds are applied to any alternative payment option. That agreement will spell out the terms of the option in full. We will credit interest on each of the above options. For 1 and 2A, the interest will be at least an effective annual rate of 3 ¹/z%

You can change the payment option at any time before the proceeds are payable. If you haven't made a choice, the payee of the proceeds has a prescribed period in which he or she can make that choice.

There may be tax consequences to you or your beneficiary depending upon which payment option is chosen. You should consult with a qualified tax adviser before making that choice.

FEDERAL INCOME TAX CONSIDERATIONS

GENERAL-

The following discussion provides a general description of the federal income tax considerations relating to the Policy. This discussion is based upon our understanding of the present federal income tax laws as they are currently interpreted by the Internal Revenue Service ("IRS"). This discussion is not intended as tax advice. Because of the inherent complexity of such laws and the fact that tax results will vary according to the particular circumstances of the individual involved, tax advice may be needed by a person contemplating the purchase of the Policy. It should, therefore, be understood that these comments concerning federal income tax consequences are not an exhaustive discussion of all tax questions that might arise under the Policy and that special rules which are not discussed may apply in certain situations. Moreover, no representation is made as to the likelihood of continuation of federal income tax or estate or gift tax laws or of the current interpretations by the IRS or the courts. New regulations or legislation may adversely affect the tax treatment of life insurance policies. Finally, these comments do not take into account any state or local income tax considerations which may be involved in the purchase of the Policy.

While we believe that the Policy meets the statutory definition of life insurance under Section 7702 of the Internal Revenue Code ("IRC") and hence will receive federal income tax treatment consistent with that of traditional fixed life insurance, the IRS's existing published guidance concerning the definition of life insurance does not explicitly address all relevant issues (including, for example, the treatment of substandard risk policies, policies with term insurance on the Insureds, and certain tax requirements relating to joint survivorship life insurance policies). We reserve the right to make changes to the Policy if changes are deemed appropriate by us to attempt to assure qualification of the Policy as a life insurance contract, including reducing the number of permissible reallocations among Subaccounts and reducing the number of investment options available. If a Policy were determined not to qualify as life insurance, the Policy would not provide the tax advantages normally provided by life insurance. The discussion below summarizes the tax treatment of life insurance contracts. The death benefit under a Policy should be excludable from the gross income of the beneficiary (whether the beneficiary is a corporation, individual or other entity) under IRC Section 101(a)(1) for purposes of the regular federal income tax and you generally should not be deemed to be in constructive receipt of the cash values, including increments thereof, under the Policy until a full surrender thereof or a partial withdrawal. In addition, certain Policy loans and partial withdrawals may be taxable in the case of Policies that are modified endowment contracts. Prospective Policy Owners that intend to use Policies to fund deferred compensation arrangements for their employees are urged to consult their tax advisors with respect to the tax consequences of such arrangements. Prospective corporate Owners should consult their tax advisors about the treatment of life insurance in their particular circumstances for purposes of the alternative minimum tax applicable to corporations and the environmental tax under IRC Section 59A. Corporate Owners should also ensure that they have an insurable interest, under the appropriate state law, in the Insured equal to or greater than the Death Benefit of the Policy.

DIVERSIFICATION REQUIREMENTS

Code Section 817(h) requires a variable life insurance policy to be adequately diversified in order to be treated as life insurance for United States federal income tax purposes. Generally, each Separate Account, and each Subaccount, is required to diversify its investments so that on the last day of each quarter of a calendar year (or within 30 days after the last day), no more than 55 percent of the value of its assets is represented by any one investment, no more than 70 percent is represented by any two investments, no more than 80 percent is represented by any three investments, and no more than 90 percent is represented by any four investments. Securities of a single issuer generally are treated as a single investment for purposes of Section 817(h). There are special rules for calculating the 55/70/80/90 limitations when the Account holds U.S. Treasury securities.

Under these rules, separate accounts may generally not invest over 55% of their assets in a single investment fund. Where, however, all of the assets of the investment fund are owned by insurance companies, and access to the fund is available solely through purchase of a variable product, then the IRS will "look through" the fund and treat each separate account as owning a pro rata share of each of the underlying assets of the fund. Therefore, a separate account that invests in such a fund will satisfy the diversification rules so long as the fund has adequately diversified its investments under the 55/70/80/90 rule described above.

Each Subaccount must independently satisfy the diversification rules. Thus, a Policy whose premium is allocated equally among a number of Subaccounts will not satisfy Section 817(h) unless each of the Subaccounts meets the diversification requirements.

Generally, if a Subaccount fails to satisfy the diversification requirements for a single calendar quarter, then a Policy with an Account Value allocated to that Subaccount would no longer be treated as a life insurance contract for federal tax purposes. In that case, income earned on the Policy would be taxable to the Owner in the year in which the diversification requirements were not met, and the Owner would be subject to tax on a current basis on future earnings on assets underlying the Policy.

INVESTOR CONTROL

Under current U.S. tax law, if a policy owner has excessive control over the investments made by a separate account, or the underlying fund, the policy owner may be taxed currently on income and gains from the account.

The Service has stated in published Revenue Rulings that a policy owner will be considered the owner of variable account assets if the owner has "investment control" over the assets and "sufficient other incidents of ownership" of the assets. See, e.g., Rev. Rul. 82-54, 1982-1 CB. 11 ; Rev. Rul. 81-225, 1981-2 CB. 12. In general, under these Revenue Rulings, it is permissible for a policyholder to have control over investment strategies, but an investor may not have control over selection among various individual investment decisions. Where there is "investor control" over separate account assets, the investor (i.e the policy owner) will be treated as the owner of a pro rata share of the assets in the separate account.

Additional indications as to the general thinking of the IRS can be found in Private Letter Rulings involving these issues. It should be noted, however, that while Private Letter Rulings reflect the current thinking of the IRS National Office, they do not bind the IRS, except as to the taxpayer who received the ruling.

In 1994, the IRS issued Private Letter Ruling 9433030 (May 25, 1994), in which the IRS considered whether an employer (or employer-related entity) that purchase variable universal life insurance policies insuring the lives of the employer's directors should be treated as the owner of separate account assets underlying the contracts. Premiums under the contracts were allocated to a separate account established exclusively for the investment of the policyholder's premiums. The policyholder was permitted to allocate premiums and contract values among four "segments" of the separate account, each of which had a different broad investment objective. These investment objectives were agreed to by the policyholder and the insurance company prior to the issuance of the policies, and the policyholder retained no right to change the terms of the investment guidelines. Subject to these investment guidelines, all investment decisions were made by the insurance company. Further, the policyholder did not communicate directly or indirectly with any investment officer of the insurance company or any affiliate of the insurance company regarding the quality or rate of return of any specific investment or group of investments. The policyholder was permitted to reallocate contract values among the four segments of the separate account no more than four times per year. Under these circumstances, the IRS privately ruled that the insurance company, rather than the policyholder, would be treated as the owner of the separate account assets for tax purposes.

Although Private Letter Rulings do not bind the IRS in subsequent cases, until there is other guidance from the IRS policy owners may use this information as evidence of what may be required to avoid being treated as the owner of separate account assets. There is some risk, however, that a Policy Owner might be considered to be the owner of Policy assets, particularly where the circumstances differ from those outlined in PLR 9433030. Of relevance in this regard are not only the legal rights of the Policy Owner under the Policy, but also the number of Subaccounts available for Premium allocation, the number of transfers between Subaccounts allowed a Policy Owner each year, and any facts and circumstances pertinent to the Policy Owner's ability to exercise control that are not explicitly or implicitly contemplated in the Policy (e.g., if the Policy Owner, in fact, exerts influence over the decisions of the investment advisers to the Separate Account).

The IRS has indicated its intention to publish formal guidance on the requirements of the investor control doctrine as applied to variable life insurance policies. As of the date of this Memorandum, no such guidance has been issued. If issued, such guidance conceivably could be applied retroactively.

We intend to monitor the performance of each Portfolio to review continuing compliance with diversification and investor control requirements. We reserve the right to alter the terms of the Policy if necessary in order to ensure that the Policy is treated as a life insurance contract under the IRC and IRS regulations.

TAX TREATMENT OF POLICIES

IRC Section 7702A defines a class of life insurance contracts referred to as modified endowment contracts. Taxation of pre-death distributions from Policies that are classified as "modified endowment contracts" can be less favorable than the taxation of pre-death distributions from conventional life insurance contracts, as described below.

A life insurance contract becomes a "modified endowment contract" if, at any time during the first seven contract years, the sum of actual premiums paid exceeds the sum of the "seven-pay premium." Generally, the "seven pay premium" is the net level premium that would be charged if the contract provided for paid-up benefits after the payment of seven level annual premiums.

Changes in the Policy, including changes in Death Benefits, may require "retesting" of the Policy to determine if it is to be classified as a modified endowment contract and a redetermination of the applicable "seven-pay premium."

CONVENTIONAL LIFE INSURANCE POLICIES

If a Policy is not a modified endowment contract, upon full surrender for its Net Cash Surrender Value, the excess, if any, of the Cash Surrender Value (which includes any outstanding Policy Debt) over the cost basis under a Policy will be treated as ordinary income for federal income tax purposes. Such a Policy's cost basis will usually equal the premiums paid less any premiums previously recovered in partial withdrawals. Under IRC Section 7702, if a partial withdrawal occurring within 15 years of the Policy Date is accompanied by a reduction in benefits under the Policy, special rules apply to determine whether part or all of the cash received is paid out of the income of the Policy and is taxable. Cash distributed to a Policy Owner on partial withdrawals occurring more than 15 years after the Policy Date will be taxable as ordinary income to the Policy Owner to the extent that the total amounts withdrawn exceed the cost basis under a Policy.

Loans received under Policies that are not modified endowment contracts will be treated as indebtedness of the Owner for federal income tax purposes, and no part of any loan under the Policy will constitute income to the Owner unless the Policy is surrendered or matures or lapses. Tax law provisions may limit or preclude the deduction of interest payable on loan proceeds that are used to purchase or carry certain life insurance policies. Consult with your tax advisor on whether interest paid (or accrued by an accrual basis taxpayer) on a loan under a Policy that is not a modified endowment contract may be deductible.

MODIFIED ENDOWMENT CONTRACTS ~~

Upon full surrender of a modified endowment contract, the Policy Owner would recognize ordinary income equal to the amount by which the Cash Surrender Value (which includes any outstanding Policy Debt) exceeds the investment in the Policy (usually the premiums paid plus certain pre-death distributions that were taxable less any premiums previously recovered that were excludable from gross income). Upon partial withdrawal, the Policy Owner would recognize ordinary income to the extent of unwithdrawn earnings in the Policy. Amounts borrowed from the Policy will be treated as distributions, taxable to the extent of unwithdrawn earnings. If two or more policies which are classified as modified endowment contracts are purchased from any one insurance company during any calendar year, all such policies will be aggregated for purposes of determining the portion of the pre-death distributions allocable to income on the policies and the portion allocable to investment in the policies.

Amounts received under a modified endowment contract that are included in gross income are subject to an additional tax equal to 10% of the amount included in gross income, unless an exception applies. The 10% additional tax does not apply to any amount received: (i) when the taxpayer is at least 59 ^ΛA years old; (ii) which is attributable to the taxpayer becoming disabled; or (iii) which is part of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the taxpayer or the joint lives (or joint life expectancies) of the taxpayer and his or her beneficiary.

If a Policy was not originally a modified endowment contract but becomes one, under Treasury Department regulations which are yet to be prescribed, pre-death distributions received in anticipation of a failure of a Policy to meet the seven-pay premium test are to be treated as pre-death distributions from a modified endowment contract (and, therefore, are to be taxable as described above) even though, at the time of the distribution(s) the Policy was not yet a modified endowment contract. For this purpose, pursuant to the IRC, any distribution made within two years before the Policy is classified as a modified endowment contract shall be treated as being made in anticipation of the Policy's failing to meet the seven-pay premium test. Tax law provisions may limit or preclude the deduction of interest payable on loan proceeds that are used to purchase or carry certain life insurance policies. Consult with your tax advisor on whether interest paid (or accrued by an accrual basis taxpayer) on a loan under a Policy that is a modified endowment contract may be deductible.

REASONABLE REQUIREMENTS FOR CHARGES

Another provision of the tax law deals with allowable charges for mortality costs and other expenses that are used in making calculations to determine whether a contract qualifies as life insurance for federal income tax purposes. For life insurance policies entered into on or after October 21, 1988, these calculations must be based upon reasonable mortality charges and other charges reasonably expected to be actually paid. The Treasury Department has issued proposed regulations and is expected to promulgate temporary or final regulations governing reasonableness standards for mortality charges. Under the proposed regulations, the standards applicable to joint survivor life insurance policies are not entirely clear. While we believe under IRS pronouncements currently in effect that the mortality costs and other expenses used in making calculations to determine whether the Policy qualifies as life insurance meet the current requirements, complete assurance cannot be given that the IRS would necessarily agree. It is possible that future regulations will contain standards that would require us to modify the mortality charges used for the purposes of the calculations in order to retain the qualification of the Policy as life insurance for federal income tax purposes, and we reserve the right to make any such modifications.

OTHER TAXES

Federal estate arid gift and state and local income, estate, inheritance, and other tax consequences of ownership or receipt of Policy proceeds depend on the jurisdiction and the circumstances of each Owner or Beneficiary.

For complete information on federal, state, local and other tax considerations, a qualified tax adviser should be consulted.

WE DO NOT MAKE ANY GUARANTEE REGARDING THE TAX STATUS OF ANY POLICY.

CHARGE FOR OUR INCOME TAXES

For federal income tax purposes, variable life insurance generally is treated in a manner consistent with traditional fixed life insurance. We will review the question of the charge to the Separate Account for our federal income taxes periodically. A charge may be made for any federal income taxes incurred by us that are attributable to the Separate Account or to our operations with respect to the Policy. A charge might become necessary if our tax treatment is ultimately determined to be other than what we currently believe it to be, if there are changes made in the federal income tax treatment of variable life insurance at the insurance company level, or if there is a change in our tax status.

Under current laws, we may incur state and local taxes (in addition to premium taxes) in several states. At present, these taxes are not significant. If there is a material change in applicable state or local tax laws, we reserve the right to charge the Separate Account for such taxes, if any, attributable to the Separate Account. ADDITIONAL INFORMATION

VOTING OF FUND SHARES

In accordance with our view of present applicable law, we will exercise voting rights attributable to the shares of each Portfolio held in a Non-Exempt Subaccount at any regular and special meetings of the shareholders of the Fund on matters requiring shareholder voting under the Investment Company Act of 1940 or by the Fund. We will exercise these voting rights based on instructions received from persons having the voting interest in corresponding Subaccounts of the Separate Account. However, if the Investment Company Act of 1940 or any regulations thereunder should be amended, or if the present interpretation thereof should change, and as a result we determine that we are permitted to vote the shares of the Fund in our own right, we may elect to do so.

You are the person having the voting interest under a Policy. Unless otherwise required by applicable law, the number of votes as to which you will have the right to instruct will be determined by dividing your Accumulated Value in a Non-Exempt Subaccount by the net asset value per share of the corresponding Portfolio of the Fund. Fractional votes will be counted. The number of votes as to which a Policy Owner will have the right to instruct will be determined as of the date coincident with the date established by the Fund for determining shareholders eligible to vote at the meeting of the Fund. If required by the SEC, we reserve the right to determine in a different fashion the voting rights attributable to the shares of the Fund based upon the instructions received from Policy Owners. Voting instructions may be cast in person or by proxy.

If there are shares of a Portfolio held by a Non-Exempt Subaccount for which we do not receive timely voting instructions, we will vote those shares in the same proportion as all other shares of that Portfolio held by that Subaccount for which we have received timely voting instructions.

There are generally no voting rights with respect to Exempt Subaccounts.

DISREGARD OF VOTING INSTRUCTIONS

We may, when required by state insurance regulatory authorities, disregard voting instructions if the instructions require that voting rights be exercised so as to cause a change in the sub-classification or investment objective of a Portfolio or to approve or disapprove an investment advisory contract. In addition, we may disregard voting instructions on changes initiated by Policy Owners in the investment policy or the Advisers (or Portfolio Manager) of a Portfolio, provided that our disapproval of the change is reasonable and is based on a good faith determination that the change would be contrary to state law or otherwise inappropriate, considering the Portfolio's objectives and purpose, and considering the effect the change would have on us. In the event we do disregard voting instructions, a summary of that action and the reasons for such action will be included in the next report to Policy Owners.

CONFIRMATION STATEMENTS AND REPORTS ON PORTFOLIOS

Confirmations will be sent out upon premium payments and transfers, loans, loan repayments, withdrawals, and surrenders. Confirmation of scheduled transactions under dollar cost averaging, portfolio rebalancing and monthly deductions will appear on your quarterly statement.

You will also be sent annual financial statements for the Non-Exempt Subaccounts and the corresponding Portfolios, the latter of which will include a list of the securities of the Portfolio, as required by the Investment Company Act of 1940, and/or such reports as may be required by federal securities laws. SUBSTITUΉON OF INVESTMENTS

We reserve the right, subject to compliance with the law as then in effect, to make additions to, deletions from, or substitutions for the securities that are held in the Separate Account or any Subaccount, or that any Subaccount may purchase. If shares of any or all of the Portfolios should no longer be available for investment, or if, in the judgment of our management, further investment in shares of any or all Portfolios of the Funds should become inappropriate in view of the purposes of the Policies, we may substitute shares of another Portfolio or of a different fund for shares already purchased, or to be purchased in the future under the Policies.

We also reserve the right to establish additional Funds which may include additional Underlying Portfolios of the Separate Account to serve as investment options under the Policies which may be managed separate accounts or may invest in a new Portfolio of a Fund, or in shares of another investment company, a portfolio thereof, or suitable investment vehicle with a specified investment objective. New Portfolios may be established when, at our sole discretion, marketing needs or investment conditions warrant, and any new Portfolios will be made available to existing Policy Owners at our discretion and on a basis to be determined by us. We may also eliminate one or more Portfolios if, in our sole discretion, marketing, tax, or investment conditions so warrant. We may also terminate and liquidate any Portfolio.

In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in your Policy and other policies as may be necessary or appropriate to reflect such substitution or change. If deemed by us to be in the best interests of persons having voting rights under the Policies, the Separate Account may be operated as a registered investment company under the Investment Company Act of 1940 or in any other form permitted by law, it may be deregistered under that Act in the event such registration is no longer required, or it may be combined with other separate accounts of ours or an affiliate of ours. Subject to compliance with applicable law, we also may combine one or more Subaccounts and may establish a committee, board, or other group to manage one or more aspects of the operation of the Separate Account.

REPLACEMENT OF LIFE INSURANCE OR ANNUITIES

The term "replacement" has a special meaning in the life insurance industry and is described more fully below. Before you make your purchase decision, the Company wants you to understand how a replacement may impact your existing plan of insurance.

A Policy "replacemenf occurs when a new policy or contract is purchased and, in connection with the sale, an existing policy or contract is surrendered, lapsed, forfeited, assigned to the replacing insurer, otherwise terminated, or used in a financed purchase. A "financed purchase" occurs when the purchase of a new life insurance policy or annuity contract involves the use of funds obtained from the values of an existing life insurance policy or annuity contract through withdrawal, surrender or loan.

There are circumstances in which replacing your existing life insurance policy or annuity contract can benefit you. As a general rule, however, replacement is not in your best interest. Accordingly, you should make a careful comparison of the costs and benefits of your existing policy or contract and the proposed policy or contract to determine whether replacement is in your best interest.

CHANGES TO COMPLY WITH LAW

We reserve the right to make any change without your consent to the provisions of the Policy to comply with, or give you the benefit of, federal or state statutes, rules, or regulations, including but not limited to requirements for life insurance contracts and modified endowment contracts under the IRC, under regulations of the United States Treasury Department or any state. SUPPLEMENT PAGES

Proposed Policy Specifications ICTll

Insured Mr. Guy R. Thomas

Issue Age 50

Sex Male

Premium Class Standard

Non-Tobacco User

Owner at Issue Mr. Guy R. Thomas Policy Number To Be Assigned Pending Approval Policy Date To Be Assigned Pending Approval

Death Benefit

Total Face Amount at Issue $10,000,000.00

See the following page for scheduled changes in future years.

Death Benefit Option at Issue Option B Definition of Life Insurance Elected Guideline Premium Test Minimum Face Amount $50,000

Premiums

Planned Premium $187,800.00 From Duration 1 - 15 $0.00 From Duration 16 - 110

Billing Interval Annually beginning on the Policy Date Band 1 Premium The first $187,800.00 paid per year Band 2 Premium The next $0.00 paid per year Minimum Initial Premium $5,601.30

Summary of Additional Coverages Applied For:

No Riders Selected

The Separate Account interests under this policy have not been and will not be registered with the Securities and Exchange Commission under the Securities Act of 1933, and are "restricted" as contemplated by Regulation D under the Securities Act of 1933 as amended. These interests may not be sold or otherwise transferred except as permitted under the 1933 Act and, further, subject to our prior consent. Scheduled Face Amount for overa nt 1

The application of these loads is described further in the "Premium" section of the Offering Memorandum.

Deductions from Account Value Processing Period every 1 month

Guaranteed Maximum Administrative Charges

(1 ) Policy fee applies only to initial Coverage Segment

Monthly Rates For Mortality And Expense Risk Charges Current and Guaranteed maximum monthly rates as a percentage of unloaned Account Value

O

(1 ) On a Policy anniversary, "Age" means the Age of the Insured at his or her birthday nearest that date. That Age will apply until the next anniversary.

(2) For Male, Premium Class Standard, Non Tobacco User.

Policy Loan Factors

Surrender Charge Factors

Definition of Life Insurance Death Benefit Factors

Definition of Life Insurance Elected is the Guideline Premium Test

We reserve the right to modify the Required Total Death Benefit Factors, retroactively if necessary, to ensure or maintain qualification of this policy as a life insurance contract for federal tax purposes, notwithstanding any other provisions of this policy to the contrary.

Claims

What is claims is:

1. A method for determining a premium schedule for a life insurance product under a single regulatory-approved form comprising:

(a) selecting a death benefit; (b) targeting a projected balance of an account associated with the product;

(c) designating at least one premium band;

(d) generating, in response to a deferral determination for at least one premium- based charge for at least one premium band, factors for allocating charges associated with the product; and (e) calculating, responsive to steps (a) through (d), the premium schedule.

2. The method of claim 1, wherein targeting comprises determining a projected earnings rate on the projected balance.

3. The method of claim 1 , wherein the calculated premium schedule is responsive to regulatory requirements.

4. The method of claim 1, wherein the premium-based charge is selected from the group consisting of cost of insurance, cost of capital, distribution charges, periodic charges, tax costs, mortality rates, persistency, and contribution to profit and combinations thereof.

5. The method of claim 1 wherein the life insurance product is a single life insurance policy.

6. The method of claim 1 wherein the life insurance product is a joint life insurance policy.

7. The method of claim 1 wherein the life insurance product is a joint last-survivor life insurance policy.

8. The method of claim 1 wherein the life insurance product is a portfolio of life insurance policies.

9. The method of claim 1 wherein the life insurance product is a policy that satisfies government requirements for insurance policies.

10. The method of claim 1, wherein selecting comprises selecting a death benefit in each of a plurality of time periods.

11. The method of claim 1 wherein targeting comprises maximizing the projected balance of the account associated with the product.

12. The method of claim 1 wherein targeting comprises minimizing the projected balance of the account associated with the product.

13. The method of claim 1 wherein targeting comprises targeting, for each of a plurality of time periods, a projected balance of the account.

14. The method of claim 2, wherein determining comprises determining, for each of a plurality of time periods, a projected earnings rate on the projected balance of the account.

15. The method of claim 1 , wherein designating comprises designating at least one premium band in each of a plurality of time periods.

16. The method of claim 1 wherein generating comprises: generating factors for allocating charges responsive to a first defeπal determination to defer a first amount of distribution charges; and generating revised factors for allocating charges responsive to a revised deferral determination to defer a revised amount of distribution charges.

17. The method of claim 1 wherein generating comprises: generating factors for allocating charges responsive to a first defeπal determination to defer a first amount of government taxes; and generating revised factors for allocating charges responsive to a revised defeπal determination to defer a revised amount of government taxes.

18. The method of claim 1 wherein the defeπal determination includes a determination to defer a first amount of government taxes.

19. The method of claim 18 further comprising: generating, in response to a second determination to defer a second amount of government taxes, factors for allocating charges associated with the product; and calculating a second premium schedule.

20. The method of claim 19, wherein the second premium schedule is responsive to regulatory requirements.

21. The method of claim 15, wherein generating comprises generating, in response to a deferral determination of at least one premium-based charge for at least one premium band in at least one of the plurality of time periods, factors for allocating charges associated with the product.

22. The method of claim 1 wherein the charges associated with the product include cost of insurance.

23. The method of claim 1 wherein the charges associated with the product include periodic charges.

24. The method of claim 1 wherein the charges associated with the product include asset-based charges.

25. The method of claim 1 further comprising: selecting a revised death benefit; and calculating a revised premium schedule.

26. The method of claim 1 further comprising: targeting a revised projected balance; and calculating a revised premium schedule.

27. A method for illustrating a life insurance product that has regulatory approval comprising:

(a) selecting a death benefit;

(b) targeting a projected balance of an account associated with the product;

(c) designating at least one premium band; (d) generating, in response to a defeπal determination for at least one premium- based charge for at least one premium band, factors for allocating charges associated with the product; and (e) calculating, responsive to steps (a) through (d), a premium schedule.

28. The method of claim 27, wherein targeting comprises determining a projected earnings rate on the projected balance.

29. The method of claim 27, wherein the premium schedule is responsive to regulatory requirements.

30. A method comprising offering a life insurance product having a premium schedule determined according to the method of claim 1.

31. A method comprising transmitting electronic signals representing a premium schedule for a life insurance product determined according to the method of claim 1.

32. A method for determining a premium for each of a plurality of premium-periods for a life insurance product under a single regulatory-approved form comprising:

(a) selecting a death benefit for each of a plurality of death-benefit periods;

(b) targeting a projected balance of an account associated with the product for each of a plurality of projected-balance periods; (c) designating at least one premium band for each of a plurality of premium- band periods; (d) generating, in response to a defeπal determination for at least one premium- based charge for at least one premium band in at least one premium-band period, factors for allocating charges associated with the product; and

(e) calculating , in response to steps (a) through (d), the premium for each of the plurality of premium-periods.

33. The method of claim 32, wherein targeting comprises determining, for each of the plurality of projected-balance periods, a projected earnings rate on the projected balance.

34. The method. of claim 32, wherein the premium is responsive to regulatory requirements.

35. The method of claim 32 wherein targeting comprises maximizing the projected balance of the account associated with the product for at least one of the plurality of proj ected-balance periods.

36. The method of claim 32 wherein targeting comprises minimizing the projected balance of the account associated with the product for at least one of the plurality of projected-balance periods.

37. The method of claim 32 wherein selecting comprises maximizing the death benefit for at least one of the plurality of time periods.

38. A method for determining a death benefit for a life insurance product under a single regulatory-approved form comprising:

(a) selecting a premium; (b) targeting a projected balance of an account associated with the product;

(c) designating at least one premium band;

(d) generating, in response to a defeπal determination for at least one premium- based charge for at least one premium band, factors for allocating charges associated with the product; and (e) calculating, responsive to steps (a) through (d), the death benefit.

39. The method of claim 38, wherein targeting comprises determining a projected earnings rate on the projected balance.

40. The method of claim 38, wherein the calculated death benefit is consistent with regulatory requirements.

41. The method of claim 38, wherein the premium-based charge is selected from the group consisting of cost of insurance, cost of capital, distribution charges, periodic charges, tax costs, mortality rates, persistency, and contribution to profit and combinations thereof.

42. The method of claim 38 wherein the life insurance product is a single life insurance policy.

43. The method of claim 38 wherein the life insurance product is a joint life insurance policy.

44. The method of claim 38 wherein the life insurance product is a joint last-survivor life insurance policy.

45. The method of claim 38 wherein the life insurance product is a portfolio of life insurance policies.

46. The method of claim 38 wherein the life insurance product is a policy that satisfies government requirements for insurance policies.

47. The method of claim 38, wherein selecting comprises selecting a premium in each of a plurality of time periods.

48. The method of claim 38 wherein targeting comprises maximizing the projected balance of the account associated with the product.

49. The method of claim 38 wherein targeting comprises minimizing the projected balance of the account associated with the product.

50. The method of claim 38 wherein targeting comprises targeting, for each of a plurality of time periods, a projected balance of the account.

51. The method of claim 39, wherein determining comprises determining, for each of a plurality of time periods, a projected earnings rate on the projected balance of the account.

52. The method of claim 38, wherein designating comprises designating at least one premium band in each of a plurality of time periods.

53. The method of claim 38 wherein generating comprises: generating factors for allocating charges responsive to a first defeπal determination to defer a first amount of distribution charges; and generating revised factors for allocating charges responsive to a revised deferral determination to defer a revised amount of distribution charges.

54. The method of claim 38 wherein generating comprises: generating factors for allocating charges responsive to a first deferral determination to defer a first amount of government taxes; and generating revised factors for allocating charges responsive to a revised defeπal determination to defer a revised amount of government taxes.

55. The method of claim 38 wherein the defeπal determination includes a determination to defer a first amount of government taxes.

56. The method of claim 55 further comprising: generating, in response to a second determination to defer a second amount of government taxes, factors for allocating charges associated with the product; and calculating a second death benefit.

57. The method of claim 56, wherein the second death benefit is responsive to regulatory requirements.

58. The method of claim 52, wherein generating comprises generating, in response to a deferral determination of at least one premium-based charge for at least one premium band in at least one of the plurality of time periods, factors for allocating charges associated with the product.

59. The method of claim 38 wherein the charges associated with the product include cost of insurance.

60. The method of claim 38 wherein the charges associated with the product include periodic charges.

61. The method of claim 38 wherein the charges associated with the product include asset-based charges.

62. The method of claim 38 further comprising: selecting a revised premium; and calculating a revised death benefit.

63. The method of claim 38 further comprising: targeting a revised projected balance; and calculating a revised death benefit.

64. A method for illustrating a life insurance product that has regulatory approval comprising:

(a) selecting a premium;

(b) targeting a projected balance of an account associated with the product;

(c) designating at least one premium band; (d) generating, in response to a deferral determination for at least one premium- based charge for at least one premium band, factors for allocating charges associated with the product; and (e) calculating, responsive to steps (a) through (d), a death benefit.

65. The method of claim 64, wherein targeting comprises determining a projected earnings rate on the projected balance.

66. The method of claim 64, wherein the death benefit is responsive to regulatory requirements.

67. A method comprising offering a life insurance product having a death benefit determined according to the method of claim 38.

68. A method comprising transmitting elecfronic signals representing a death benefit for a life insurance product determined according to the method of claim 38.

69. A method for determining a death benefit for each of a plurality of death-benefit periods for a life insurance product under a single regulatory-approved form comprising:

(a) selecting a premium for each of a plurality of premium-periods;

(b) targeting a projected balance of an account associated with the product for each of a plurality of projected-balance periods; (c) designating at least one premium band for each of a plurality of premium- band periods; (d) generating, in response to a deferral determination for at least one premium- based charge for at least one premium band in at least one premium-band period, factors for allocating charges associated with the product; and

(e) calculating , in response to steps (a) through (d), the death benefit for each of the plurality of death-benefit periods.

70. The method of claim 69, wherein targeting comprises determining, for each of the plurality of projected-balance periods, a projected earnings rate on the projected balance.

71. The method of claim 69, wherein the death benefit is responsive to regulatory requirements.

72. The method of claim 69 wherein targeting comprises maximizing the projected balance of the account associated with the product for at least one of the plurality of projected-balance periods.

73. The method of claim 69 wherein targeting comprises minimizing the projected balance of the account associated with the product for at least one of the plurality of projected-balance periods.

74. The method of claim 69 wherein selecting comprises minimizing the premium for at least one of the plurality of time periods.

75. A method for determining a projected balance of an account associated with a life insurance product under a single regulatory-approved form comprising:

(a) choosing a death benefit; (b) selecting a premium;

(c) designating at least one premium band;

(d) ' generating, in response to a deferral determination for at least one premium- based charge for at least one premium band, factors for allocating charges associated with the product; and (e) calculating, responsive to steps (a) through (d), the projected balance.

76. The method of claim 75 further comprising the step of determining a projected earnings rate on the projected balance.

77. The method of claim 75, wherein the calculated projected balance is consistent with regulatory requirements.

78. The method of claim 75, wherein the premium-based charge is selected from the group consisting of cost of insurance, cost of capital, distribution charges, periodic charges, tax costs, mortality rates, persistency, and contribution to profit and combinations thereof.

79. The method of claim 75 wherein the life insurance product is a single life insurance policy,

80. The method of claim 75 wherein the life insurance product is a joint life insurance policy.

81. The method of claim 75 wherein the life insurance product is a joint last-survivor life insurance policy.

82. The method of claim 75 wherein the life insurance product is a portfolio of life insurance policies.

83. The method of claim 75 wherein the life insurance product is a policy that satisfies government requirements for insurance policies.

84. The method of claim 75, wherein choosing comprises choosing a death benefit in each of a plurality of time periods.

85. The method of claim 75 wherein selecting comprises minimizing the premium for at least one of a plurality of time periods.

86. The method of claim 75 wherein selecting comprises selecting, for each of a plurality of time periods, a premium.

87. The method of claim 76, wherein determining comprises determining, for each of a plurality of time periods, a projected earnings rate on the projected balance of the account.

88. The method of claim 75, wherein designating comprises designating at least one premium band in each of a plurality of time periods.

89. The method of claim 75 wherein generating comprises: generating factors for allocating charges responsive to a first deferral determination to defer a first amount of distribution charges; and generating revised factors for allocating charges responsive to a revised deferral determination to defer a revised amount of distribution charges.

90. The method of claim 75 wherein generating comprises: generating factors for allocating charges responsive to a first defeπal determination to defer a first amount of government taxes; and generating revised factors for allocating charges responsive to a revised defeπal determination to defer a revised amount of government taxes.

91. The method of claim 75 wherein the defeπal determination includes a determination to defer a first amount of government taxes.

92. The method of claim 91 further comprising: generating, in response to a second determination to defer a second amount of government taxes, factors for allocating charges associated with the product; and calculating a second projected balance.

93. The method of claim 92, wherein the second projected balance is responsive to regulatory requirements.

94. The method of claim 88, wherein generating comprises generating, in response to a defeπal determination of at least one premium-based charge for at least one premium band in at least one of the plurality of time periods, factors for allocating charges associated with the product.

95. The method of claim 75 wherein the charges associated with the product include cost of insurance.

96. The method of claim 75 wherein the charges associated with the product include periodic charges.

97. The method of claim 75 wherein the charges associated with the product include asset-based charges.

98. The method of claim 75 further comprising: choosing a revised death benefit; and calculating a revised projected balance.

99. The method of claim 75 further comprising: selecting a revised premium; and calculating a revised proj ected balance.

100. A method for illustrating a life insurance product that has regulatory approval comprising:

(a) choosing a death benefit; (b) selecting a premium;

(c) designating at least one premium band;

(d) generating, in response to a defeπal determination for at least one premium- based charge for at least one premium band, factors for allocating charges associated with the product; and (e) calculating, responsive to steps (a) through (d), a projected balance of an account associated with the life insurance product.

101. The method of claim 100 further comprising the step of determining a proj ected earnings rate on the projected balance.

102. The method of claim 100, wherein the projected balance is responsive to regulatory requirements.

103. A method comprising offering a life insurance product having a projected balance determined according to the method of claim 75.

104. A method comprising transmitting elecfronic signals representing a projected balance for a life insurance product determined according to the method of claim 75.

105. A method for determining a projected balance of an account associated with a life insurance product under a single regulatory-approved form for each of a plurality of proj ected-balance periods comprising:

(a) choosing a death benefit for each of a plurality of death-benefit periods;

(b) selecting a premium for each of a plurality of premium-periods;

(c) designating at least one premium band for each of a plurality of premium- band periods; (d) generating, in response to a defeπal determination for at least one premium- based charge for at least one premium band in at least one premium-band period, factors for allocating charges associated with the product; and (e) calculating , in response to steps (a) through (d), the projected balance for each of the plurality of projected-balance periods.

106. The method of claim 105 further comprising the step of determining, for each of the plurality of projected-balance periods, a projected earnings rate on the projected balance.

107. The method of claim 105, wherein the projected balance is responsive to regulatory requirements.

108. The method of claim 105 wherein selecting comprises minimizing the premium for at least one of the plurality of premium-periods.

109. The method of claim 105 wherein choosing comprises maximizing the death benefit for at least one of the plurality of time periods.

110. A computer program product comprising a computer usable medium having computer program logic recorded thereon for enabling a processor in a computer system to facilitate creating a life insurance product under a single regulatory-approved form, said computer program logic comprising: storage means for enabling the system to accept a death benefit, a projected balance of an account associated with the product, a projected earnings rate on the projected balance, at least one premium band, and factors for allocating charges associated with the product; and calculating means for calculating, consistent with regulatory requirements, a premium schedule, responsive to the stored death benefit, the projected balance, the projected earnings rate, the premium band, and the factors.

111. A life insurance system comprising: a data processing apparatus, storing life insurance base product tables and regulatory requirements; input means for inputting instructions to said apparatus to calculate a premium schedule associated with a life insurance product responsive to a selected death benefit, a projected balance of an account associated with the life insurance product, at least one designated premium band, and factors for allocating charges associated with the life insurance product, responsive to a deferral determination for at least one premium-based charge for each premium band.

112. The system of claim 111, wherein the premium schedule is further responsive to a projected earnings rate on the projected balance.

113. A life insurance system comprising: a data processing apparatus, storing life insurance base product tables and regulatory requirements; input means for inputting instructions to said apparatus to calculate a calculate a death benefit responsive to a selected premium schedule, a projected balance of an account associated with the life insurance product, at least one designated premium band, and factors for allocating charges associated with the life insurance product, responsive to a deferral determination for at least one premium-based charge for each premium band.

114. The method of claim 113, wherein the death benefit is further responsive to a projected earnings rate on the projected balance.

115. A life insurance system comprising: a data processing apparatus, storing life insurance base product tables and regulatory requirements; input means for inputting instructions to said apparatus to calculate a projected balance of an account associated with the life insurance product responsive to a selected death benefit, a selected premium schedule, at least one designated premium band, and factors for allocating charges associated with the life insurance product, responsive to a deferral determination for at least one premium-based charge for each premium band.

116. The method of claim 115, wherein the projected balance is further responsive to a projected earnings rate on the projected balance.

117. The system of claim 111 , 113 or 115, further comprising means for displaying the death benefit, the premium schedule and the projected balance.

118. A life insurance product having a premium schedule determined according to the method of claim 1.

119. A life insurance product having a death benefit determined according to the method of claim 38.

120. A life insurance product having a projected balance of an account associated with the product determined according to the method of claim 75.