ANNUITY INVESTORS LIFE INSURANCE COMPANY®
ANNUITY INVESTORS® VARIABLE ACCOUNT B
THE COMMODORE SPIRIT®
PROSPECTUS FOR INDIVIDUAL AND GROUP FLEXIBLE PREMIUM DEFERRED ANNUITIES
PROSPECTUS DATED APRIL 30, 2020
This prospectus describes individual and group flexible premium deferred annuity contracts. The individual contracts and interests in the group contracts are referred to in this prospectus as the "Contracts." Annuity Investors Life Insurance Company® (the "Company") is the issuer of the Contracts.
The Contracts are available for tax-qualified and non-tax-qualified annuity purchases. All Contracts are designed to be eligible for tax- deferred treatment during the Accumulation Period. The tax treatment of annuities is discussed in the Federal Tax Matters section of this prospectus.
The offering of the Contracts to new purchasers has been suspended. However, existing Contract owners may continue to make additional Purchase Payments.
The Contracts offer both variable and fixed investment options. The variable investment options under the Contracts are Subaccounts of Annuity Investors® Variable Account B (the "Separate Account"). Each Subaccount invests in shares of a registered investment company or a portfolio of a registered investment company (each, a "Portfolio"). The Subaccounts available under the Contract invest in the corresponding Portfolios listed below.
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) Invesco Oppenheimer V.I. Capital Appreciation Fund – Series I Shares Invesco Oppenheimer V.I. Conservative Balanced Fund – Series I Shares
Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund – Series I Shares
Invesco Oppenheimer V.I. Main Street Fund® – Series I Shares Invesco V.I. American Value Fund – Series I Shares
Invesco V.I. Comstock Fund – Series I Shares
Invesco V.I. Core Equity Fund – Series I Shares Invesco V.I. Diversified Dividend Fund – Series I Shares Invesco V.I. Health Care Fund – Series I Shares Invesco V.I. High Yield Fund – Series I Shares Invesco V.I. Small Cap Equity Fund – Series I Shares
ALPS Variable Investment Trust
Morningstar Balanced ETF Asset Allocation Portfolio – Class II Morningstar Conservative ETF Asset Allocation Portfolio – Class II
Morningstar Growth ETF Asset Allocation Portfolio – Class II
Morningstar Income and Growth ETF Asset Allocation Portfolio – Class
II
American Century Variable Portfolios, Inc.
VP Capital Appreciation Fund – Class I
VP Large Company Value Fund – Class I
VP Mid Cap Value Fund – Class I
VP Ultra® Fund – Class I
BNY Mellon Investment Portfolios
MidCap Stock Portfolio – Service Shares
Technology Growth Portfolio – Initial Shares
BNY Mellon Stock Index Fund, Inc.
BNY Mellon Stock Index Fund, Inc. – Initial Shares
Calamos® Advisors Trust
Calamos® Growth and Income Portfolio (Closed)
Davis Variable Account Fund, Inc.
Davis Value Portfolio (Closed)
Deutsche DWS Investments VIT Funds
DWS Small Cap Index VIP – Class A
Franklin Templeton Variable Insurance Products Trust Templeton Foreign VIP Fund – Class 2
Janus Aspen Series
Janus Henderson VIT Balanced Portfolio – Institutional Shares Janus Henderson VIT Enterprise Portfolio – Institutional Shares Janus Henderson VIT Forty Portfolio – Institutional Shares Janus Henderson VIT Global Research Portfolio – Institutional Shares (Closed)
Janus Henderson VIT Overseas Portfolio – Institutional Shares
Janus Henderson VIT Research Portfolio – Institutional Shares
Morgan Stanley Variable Insurance Fund, Inc. Core Plus Fixed Income Portfolio – Class I Discovery Portfolio – Class I
U.S. Real Estate Portfolio – Class I
PIMCO Variable Insurance Trust
PIMCO Real Return Portfolio – Administrative Class PIMCO Total Return Portfolio – Administrative Class
The Timothy Plan
The Timothy Plan Conservative Growth Portfolio Variable Series (Closed)
The Timothy Plan Strategic Growth Portfolio Variable Series (Closed)
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BNY Mellon Sustainable U.S. Equity Portfolio, Inc.
BNY Mellon Sustainable U.S. Equity Portfolio, Inc. – Initial Shares Wilshire Variable Insurance Trust Wilshire Global Allocation Fund
BNY Mellon Variable Investment Fund Appreciation Portfolio – Initial Shares Government Money Market Portfolio – Initial Shares Growth and Income Portfolio – Initial Shares Opportunistic Small Cap Portfolio – Initial Shares
AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
Effective April 30, 2020, Invesco V.I. Mid Cap Growth Fund merged into Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund.
Closed Subaccounts
Investment options listed above as "(Closed)" are available only to Contract owners who held Accumulation Units in the applicable Subaccount on the cutoff date listed below. If you have funds allocated to one of these closed Subaccounts, please see Appendix D: Closed Subaccounts.
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|
Cutoff Date |
|
Calamos® Advisors Trust: Calamos Growth and Income Portfolio |
April 30, 2012 |
|
Davis Variable Account Fund, Inc.: Davis Value Portfolio |
April 30, 2015 |
|
Janus Aspen Series: Janus Henderson VIT Global Research Portfolio- |
November 30, 2004 |
|
Institutional Shares |
|
|
The Timothy Plan: The Timothy Plan Conservative Growth Variable Series |
November 30, 2004 |
|
The Timothy Plan: The Timothy Plan Strategic Growth Variable Series |
November 30, 2004 |
Fixed Investment Options
The fixed investment options are provided through the Company's Fixed Account. The Contracts currently offer the following fixed investment options:
|
∙ |
Fixed Accumulation Account Option |
∙ |
Fixed Account Option Five-Year Guarantee Period |
|
∙ |
Fixed Account Option One-Year Guarantee Period |
∙ |
Fixed Account Option Seven-Year Guarantee Period |
∙Fixed Account Option Three-Year Guarantee Period
Supplement for Contracts Issued Before June 1, 2009 with Guaranteed Withdrawal Benefit Riders
If your Contract effective date is before June 1, 2009, your Contract includes Guaranteed Withdrawal Benefit Riders. You should carefully read the Supplement Dated April 30, 2020 for Contracts Issued Before June 1, 2009 and keep it for future reference. Your Contract effective date is set out on your Contract specifications page.
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This prospectus includes information you should know before investing in the Contracts. This prospectus is not complete without the applicable Portfolio prospectuses. Please keep this prospectus and the Portfolio prospectuses for future reference.
A Statement of Additional Information ("SAI"), dated April 30, 2020, contains more information about the Separate Account and the Contracts. The Company filed the SAI with the Securities and Exchange Commission ("SEC"). It is part of this prospectus. For a free copy, complete and return the form on the last page of this prospectus or call the Company at 1-800-789-6771. You may also access the SAI (as well as all other information regarding the Contracts, the Separate Account or the Company) at the SEC's Web site: http://www.sec.gov. The SEC file number for the Contract is 333-19725. The table of contents for the SAI is printed on the last page of this prospectus.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED THESE SECURITIES OR PASSED UPON THE ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
∙Neither the Contract nor a Participant's interest in the Contract is a deposit or obligation of a bank or credit union or guaranteed by a bank or credit union.
∙Neither the Contract nor a Participant's interest in the Contract is FDIC or NCUSIF insured.
∙Both the Contract and a Participant's interest in the Contract involve investment risk and may lose value.
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Right to Cancel
You may cancel a Contract within 20 days after you receive it. The right to cancel may be longer in some states. In many states, you will bear the risk of investment gain or loss on any amounts allocated to the Subaccounts prior to cancellation. The right to cancel may not apply to interests in the group Contracts. The right to cancel is described more fully in the Right to Cancel section of this prospectus.
Our contract and certificate form numbers A801-BD(NQRev.3/97)-3, A801-BD(QRev.3/97)-3, G801-BD(97)-3, C801-BD(97)-3, G801- BD(04)-3, C801-BD(04)-3, P1809003NW, P1809103NW, P2008603NW, and P2008703NW. Our form numbers may vary by state.
Internet Delivery of Shareholder Reports
Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of the shareholder reports for the Portfolios available under your Contract will no longer be sent by mail, unless you specifically request paper copies of the reports from us. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from us electronically by contacting the Company at 1- 800-789-6771.
You may elect to receive all future reports in paper free of charge. You can inform us that you wish to continue receiving paper copies of your shareholder reports by contacting the Company at 1-800-789-6771. Your election to receive reports in paper will apply to all Portfolios available under your Contract.
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The capitalized terms defined in this section will have the meanings given to them when used in this prospectus. Other terms which may have a specific meaning under the Contracts, but which are not defined on this page, will be explained in the section of this prospectus where they are primarily used.
Account Value. The value of a Contract during the Accumulation Period. It is equal to the sum of the value of the Owner's interest in the Subaccounts and the Owner's interest in the Fixed Account options.
Accumulation Period. The period during which Purchase Payments and accumulated earnings are invested according to the investment options elected. The Accumulation Period ends when a Contract is annuitized or surrendered in full, or on the Death Benefit Commencement Date.
Accumulation Unit. A share of a Subaccount that an Owner purchases during the Accumulation Period. Accumulation Unit Value. The value of an Accumulation Unit at the end of a Valuation Period.
The initial Accumulation Unit Value for each Subaccount other than the money market Subaccount was set at $10. The initial Accumulation Unit Value for the money market Subaccount was set at $1. The initial Accumulation Unit Value for a Subaccount was established at the inception date of the Separate Account, or on the date the Subaccount was established, if later.
After the initial Accumulation Unit Value is established, the Accumulation Unit Value for a Subaccount at the end of each Valuation Period is the Accumulation Unit Value at the end of the previous Valuation Period multiplied by the Net Investment Factor for that Subaccount for the current Valuation Period.
A Net Investment Factor of 1 produces no change in the Accumulation Unit Value for that Valuation Period. A Net Investment Factor of more than 1 or less than 1 produces an increase or a decrease, respectively, in the Accumulation Unit Value for that Valuation Period. The Accumulation Unit Value will vary to reflect the investment experience of the applicable Portfolios.
Annuity Commencement Date. The first day of the first payment interval for which an annuity benefit payment is to be made. For tax- qualified forms, the Annuity Commencement Date generally must be no later than the Contract anniversary following the Owner's 70th birthday. For non-tax-qualified forms, the Annuity Commencement Date is generally the Owner's 85th birthday, or five years after the Contract's effective date, if later.
Benefit Payment Period. The period during which either annuity benefit or death benefit payments are paid under a settlement option. The Benefit Payment Period begins on the first day of the first payment interval in which a benefit payment will be paid.
Benefit Unit. A share of a Subaccount that is used to determine the amount of each variable dollar benefit payment during the Benefit Payment Period.
Benefit Unit Value. The value of a Benefit Unit at the end of a Valuation Period.
The initial Benefit Unit Value for a Subaccount will be set equal to the Accumulation Unit Value for that Subaccount at the end of the first Valuation Period in which a variable dollar benefit is established by the Company. Thereafter, the Benefit Unit Value for a Subaccount at the end of a Valuation Period is determined by multiplying the previous Benefit Unit Value by the Net Investment Factor for that Subaccount for the current Valuation Period and multiplying the number again by a daily investment factor for each day in the Valuation Period. The daily investment factor reduces the previous Benefit Unit Value by the daily amount of the assumed interest rate, which is already incorporated in the calculation of variable dollar benefit payments.
CDSC. Contingent deferred sales charge.
Company. Annuity Investors Life Insurance Company. The words "we" "us" and "our" also refer to the Company.
Death Benefit Commencement Date. The first day of the first payment interval for a Death Benefit that is paid as periodic payments or the date of payment for a Death Benefit that is paid as a lump sum. The Beneficiary designates the Death Benefit Commencement Date when filing a claim by Written Request. It can be no earlier than the date that we have received at our administrative office both Due proof of the death of the Owner and a claim in Good Order with instructions as to the form of the Death Benefit.
Death Benefit Valuation Date. The date the death benefit is valued. It is the date that the Company receives at its administrative office both proof of the death of the Owner and instructions as to how the death benefit will be paid. If instructions are not received within one year of the date of death, the Death Benefit Valuation Date will be one year after the date of death.
Good Order. We cannot process information or a request until we have received your instructions in "Good Order" at our administrative office. We will consider information or a request to be in "Good Order" when we have actually received a Written Request, along with all the information and other legal documentation that we require to process the information or request. To be in "Good Order," instructions must be sufficiently clear so that we do not need to exercise any discretion to process the information or request.
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We deem purchase payments, allocation instructions, transfer requests, withdrawal requests, surrender requests, other Written Requests, other information, and other instructions ("paperwork") mailed to our post office box as received by us when the payment or the paperwork reaches our administrative office, which is located at 301 E. 4th Street, Cincinnati, Ohio 45202.
Net Asset Value. The price computed by or for each Portfolio, no less frequently than each Valuation Period, at which the Portfolio's shares or units are redeemed in accordance with the rules of the SEC.
Net Investment Factor. The factor that represents the percentage change in the Accumulation Unit Values and Benefit Unit Values from one Valuation Period to the next. The Net Investment Factor for each Valuation Period reflects changes to the net asset value of the underlying Portfolio, dividends or capital gains distributions by the Portfolio, credits and charges for tax reserves with respect to the Subaccount, and the mortality and expense risk charges and administration charges.
Owner. For purposes of this prospectus, references to the Owner mean the owner of an individual annuity contract or the participant in a group annuity contract (even though the participant is not the owner of the group contract itself.) The words "you" and "your" also refer to the Owner.
Portfolio. A registered investment company or a portfolio of a registered investment company in which the corresponding Subaccount invests. The Portfolios are listed on the cover page of this prospectus.
Purchase Payments. An amount paid to us for this Contract, less any fee charged by the person remitting payments and the deduction of applicable premium or other taxes.
SEC. Securities and Exchange Commission.
Separate Account. Annuity Investors Variable Account B, which is an account that was established and is maintained by the Company.
Subaccount. A subdivision of the Separate Account. Each Subaccount invests in the shares of the corresponding Portfolio listed on the cover page of this Prospectus.
Surrender Value. At any time, the Surrender Value is the Account Value as of the end of the applicable Valuation Period minus the CDSC that would apply upon a surrender; the outstanding balance of any loans; and any applicable premium tax or other taxes not previously deducted. On full surrender, the contract maintenance fee will also be deducted from the Surrender Value.
Tax-Qualified Contract. A contract that is intended to qualify for special tax treatment for retirement savings. The Contract specifications page indicates whether this Contract is a Tax-Qualified Contract.
Valuation Date. A day on which Accumulation Unit Values and Benefit Unit Values can be calculated. Each day that the New York Stock Exchange is open for business is a Valuation Date.
Valuation Period. The period starting at the close of regular trading on the New York Stock Exchange on any Valuation Date and ending at the close of trading on the next succeeding Valuation Date.
Written Request. Information provided to us or a request made to us that is:
∙complete and satisfactory to us;
∙on our form or in a manner satisfactory to us; and
∙received by us at our administrative office.
A Written Request may, at our discretion, be made by telephone or electronic means.
We will treat a Written Request as a standing order. It may be modified or revoked only by a subsequent Written Request, when permitted by the terms of the Contract. A Written Request is subject to (1) any payment that we make before we acknowledge the Written Request and (2) any other action that we take before we acknowledge the Written Request.
To obtain one of our forms, contact us at P.O. Box 5423, Cincinnati, Ohio 45201-5423, or call us at 1-800-789-6771.
Additional Details. The Statement of Additional Information contains more information about Accumulation Units and Benefit Units. It also contains the formula for determining the Net Investment Factor for any Subaccount for any Valuation Period and an explanation of how the following values are calculated: variable account value, fixed account value, Accumulation Unit Values; and Benefit Unit Values.
These tables describe the fees and expenses that you will pay when you buy, hold or withdraw amounts from the Contract.
Table A: Contract Owner Transaction Expenses
The first table describes the fees and expenses that you will pay at the time that you buy the Contract, withdraw amounts from the Contract, surrender the Contract, transfer cash value between investment options, or borrow money under the Contract. Premium taxes may also be deducted.
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|
Current |
Maximum |
|
Maximum Contingent Deferred Sales Charge (as to Purchase Payments only)(1) |
7.00% |
7.00% |
|
Transfer Fee(2) |
$25 |
$30 |
|
Annual Automatic Transfer Program Fee |
None |
$30 |
|
Annual Systematic Withdrawal Fee |
None |
$30 |
|
Loan Interest Spread(3) |
3.00% |
7.00% |
(1)The contingent deferred sales charge is calculated as a percentage of Purchase Payments withdrawn or surrendered. This charge applies to each Purchase Payment separately. The charge on each Purchase Payment decreases to zero after 7 years. We may waive the contingent deferred sales charge under certain circumstances. See the Charges and Deductions section of this prospectus for more information about the contingent deferred sales charge and the circumstances in which it may be waived.
(2)The transfer fee currently applies to transfers in excess of 12 in any contract year.
(3)Generally, we require collateral in an amount equal to 110% of the outstanding loan balance. The loan interest spread is the difference between the amount of interest we charge you for a loan and the amount of interest we credit to your collateral. Because the maximum interest rate we charge on a loan is 8% and the minimum interest rate we credit to collateral may be as low as 1%, depending on the Contract, the maximum loan interest spread is 7%. However, a plan administrator or an employer retirement plan may require us to charge a higher interest rate on loans. In this case, the maximum loan interest rate spread will be higher than 7%.
The next table describes the fees and expenses that you will pay periodically during the time that you own the Contract, not including Portfolio fees and expenses. Separate Account annual expenses are shown as a percentage of the average value of the Owner's interest in the Subaccounts.
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Enhanced Group Version |
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|
|
Enhanced Group |
with Administration |
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|
Standard Version |
Version |
Charge Waived |
|
Annual Contract Maintenance Fee |
$30 |
$30 |
$30 |
|
Separate Account Annual Expenses |
|
|
|
|
Mortality and Expense Risk Charge |
1.25% |
0.95% |
0.95% |
|
Administration Charge |
0.15% |
0.15% |
0.00% |
|
Total Separate Account Annual Expenses |
1.40% |
1.10% |
0.95% |
All contract owners may receive the standard version of the Contract. Certain groups that meet higher underwriting or other criteria may be eligible to obtain the enhanced group version of the Contract. When we also expect to incur reduced administrative expenses, we may also waive the Administration Charge.
If you surrender your Contract, we will apply the contract maintenance fee at that time.
Table C: Total Annual Portfolio Operating Expenses
The next table shows the minimum and maximum total operating expenses charged by the Portfolios that you may pay periodically during the time that you own the Contract. These expenses are deducted from Portfolio assets and include management fees, distribution and service (12b-1) fees, acquired fund fees and expense, and other expenses. More detail concerning each Portfolio's fees and expenses is contained in the prospectus of that Portfolio.
Minimum Maximum
0.27%1.53%
The minimum expenses are the expenses of the BNY Mellon Stock Index Fund, Inc. The maximum expenses are the expenses of the PIMCO Real Return Portfolio.
The information about Portfolio expenses that we used to prepare this table was provided to us by the Portfolios. We have not independently verified the Portfolio expense information. The minimum and maximum expenses shown in the table are for the year ended December 31, 2019. Actual expenses of a Portfolio in future years may be higher or lower.
The Portfolios in the ALPS Variable Investment Trust (Morningstar Portfolios) and the Wilshire Variable Insurance Trust are structured as "fund of funds" and invest in other investment companies (acquired funds). As a result, each Morningstar portfolio and Wilshire portfolio will likely incur higher expenses than a fund that invests directly in securities and you will effectively be paying a portion of the management fees and other expenses of the Acquired Funds.
These examples are intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity contracts. These costs include the Contract Owner transaction expenses (described in Table A above), the annual expenses (described
8
in Table B above), and Portfolio operating expenses (described in Table C above). Your actual costs may be higher or lower than the costs shown in the examples.
Example 1: Contract with Maximum Fund Operating Expenses
Assumptions
∙You invest $10,000 in the Contract for the periods indicated and your investment has a 5% return each year.
∙The annual contract maintenance fee ($30), the Separate Account annual expenses (1.40%), and the maximum Portfolio expenses (1.53%) are incurred.
By comparing the costs shown in the tables below, you can see the impact of contingent deferred sales charges on your costs.
|
|
1 year |
3 years |
5 years |
10 years |
|
We assume that you surrender your Contract at the end of the period. We |
|
|
|
|
|
also assume that the applicable contingent deferred sales charge is |
$1,031 |
$1,559 |
$2,183 |
$4,439 |
|
incurred. In this case, your costs would be: |
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|
|
|
|
We assume that you keep your Contract and leave your money in your |
|
|
|
|
|
Contract for the entire period or you annuitize your Contract at the end of |
$331 |
$1,059 |
$1,883 |
$4,439 |
|
the period. The contingent deferred sales charge does not apply in these |
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|
|
|
|
situations. In this case, your costs would be: |
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|
|
|
|
Example 2: Contract with Minimum Fund Operating Expenses |
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|
|
|
|
Assumptions |
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|
|
|
∙You invest $10,000 in the Contract for the periods indicated and your investment has a 5% return each year.
∙The annual contract maintenance fee ($30), the Separate Account annual expenses (1.40%), and the minimum Portfolio expenses (0.27%) are incurred.
By comparing the costs shown in the tables below, you can see the impact of contingent deferred sales charges on your costs.
|
|
1 year |
3 years |
5 years |
10 years |
|
We assume that you surrender your Contract at the end of the period. We |
|
|
|
|
|
also assume that the applicable contingent deferred sales charge is |
$903 |
$1,155 |
$1,477 |
$2,839 |
|
incurred. In this case, your costs would be: |
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|
|
|
|
We assume that you keep your Contract and leave your money in your |
|
|
|
|
|
Contract for the entire period or you annuitize your Contract at the end of |
$203 |
$655 |
$1,177 |
$2,839 |
|
the period. The contingent deferred sales charge does not apply in these |
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|
|
|
|
situations. In this case, your costs would be: |
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|
|
|
Condensed Financial Information. Condensed financial information for the Contracts is set forth in Appendix A to this prospectus. It includes: (1) year-end accumulation unit values for each Subaccount for each of the last 10 fiscal years through December 31, 2019, or from the end of the year of inception of a Subaccount, if later, to December 31, 2019; and (2) number of accumulation units outstanding as of the end of each period.
Financial Statements. The financial statements and reports of the independent registered public accounting firm of the Company and of the Separate Account are included in the Statement of Additional Information.
The Separate Account is a unit investment trust registered with the SEC under the Investment Company Act of 1940. The Separate Account is divided into Subaccounts. Each Subaccount is invested in one of the Portfolios listed on the cover page of this prospectus. If you choose a variable investment option, you are investing in the Subaccounts, not directly in the Portfolios.
The Contracts are individual and group deferred annuities, which are insurance products. The Contracts are sold with either a standard fee structure or with the administration charge waived, as described in the Expense Tables of this prospectus. The Contracts are available in both tax-qualified and non-tax-qualified forms, both of which are designed to be eligible for tax-deferred investment status. See the Federal Tax Matters section of this prospectus for more information about tax qualifications and taxation of annuities in general.
During the Accumulation Period, the amounts you contribute can be allocated among any of the then available variable investment options and Fixed Account options. The variable investment options are the Subaccounts of the Separate Account, each of which is invested in a Portfolio. The Owner bears the risk of any investment gain or loss on amounts allocated to the Subaccounts. The Fixed Account options earn a rate of interest declared from time to time by the Company, which will be no less than the minimum interest rate
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permitted under the law of the state when and where the Contract is issued. The Company guarantees amounts invested in the Fixed Account options and the earnings thereon so long as those amounts remain in the Fixed Account.
During the Benefit Payment Period, payments can be allocated between variable dollar and fixed dollar options. If a variable dollar option is selected, Benefit Units can be allocated to any of the same Subaccounts that are available during the Accumulation Period.
What Benefits Are Available under the Contract?
∙Annuity Benefit. When the Contract is annuitized, we promise to pay a stream of Annuity Benefit payments for the duration of the settlement option selected.
∙Death Benefit. A Death Benefit will be paid under the Contract if the Owner dies during the Accumulation Period.
A partial surrender or withdrawal from the Contract may result in the reduction of the Death Benefit that is greater than the amount of the partial surrender or withdrawal.
What Are the Risks Related to the Contract?
∙The variable investment options to which you allocate Purchase Payments may lose value, which would cause your Account Value to decrease.
o The outbreak of the novel coronavirus known as COVID-19 was declared a pandemic by the World Health Organization in March 2020. As of the date of this prospectus, the COVID-19 pandemic has led to significant volatility and negative returns in the financial markets. These market conditions have impacted the performance of the variable investment options available under the Contract. If these market conditions continue, and depending on your individual circumstances (e.g., your selected variable investment options and the timing of any Purchase Payments, transfers, or withdrawals), you may experience (perhaps significant) negative returns under the Contract. The duration of the COVID-19 pandemic, and the future impact that the pandemic may have on the financial markets and global economy, cannot be foreseen, however. You should consult with a Financial Professional about how the COVID-19 pandemic and the recent market conditions may impact your future investment decisions related to the Contract, such as making Purchase Payments, transfers, or withdrawals, based on your individual circumstances.
∙We may not be able to pay claims related to the annuity or death benefits.
oThe economic impacts of the COVID-19 pandemic may negatively affect our financial condition and results of operations. The extent to which the COVID-19 pandemic impacts financial markets, the global economy, and our financial strength and claims-paying ability will depend on future developments that cannot be predicted with certainty. We continue to be subject to significant state solvency regulations that require us to reserve amounts to pay our contractual guarantees.
∙A contingent deferred sales charge may apply if you withdraw money from your Contract or surrender your Contract.
∙A penalty tax may be imposed at the time of a withdrawal or a surrender depending on your age and other circumstances.
How Do I Purchase or Cancel a Contract?
The requirements to purchase a Contract are explained in The Contracts section of this prospectus. You may purchase a Contract only through a licensed securities representative.
You may cancel a Contract within 20 days after you receive it (the right to cancel may be longer in some states). In many states, you will bear the risk of investment gain or loss on any amounts allocated to the Subaccounts prior to cancellation. The right to cancel may not apply to group Contracts. The right to cancel is described in the Right to Cancel section of this prospectus.
Will Any Penalties or Charges Apply If I Make Withdrawals or Surrender a Contract?
A contingent deferred sales charge may apply to amounts withdrawn or surrendered depending on the timing and amount of the withdrawal or surrender. The maximum CDSC is 7% for each Purchase Payment. The CDSC percentage decreases over by 1% annually to 0% after seven years from the date of receipt of each Purchase Payment.
The CDSC will be waived in its entirety following the tenth Contract anniversary for Contracts issued pursuant to Internal Revenue Code Section 403(b) (if the Contract is issued without an employer plan endorsement), including those issued to Contract Owners in the Texas Teachers Retirement System. Withdrawal and surrender procedures and the CDSC are described in the Surrender and Withdrawals section of this prospectus.
A penalty tax may also be imposed at the time of a withdrawal or surrender depending on your age and other circumstances of the surrender. Tax consequences of a withdrawal or surrender are described in the Federal Tax Matters section of this prospectus. The right to make withdrawals or surrender may be restricted under certain tax-qualified retirement plans.
What Other Charges and Deductions Apply to the Contract?
Other than the CDSC, the Company will charge the fees and charges listed below unless the Company reduces or waives the fee or charge as discussed in the Charges and Deductions section of this prospectus:
∙a transfer fee for certain transfers among investment options;
∙an annual contract maintenance fee, which is assessed only against investments in the Subaccounts;
∙a mortality and expense risk charge, which is an expense of the Separate Account and charged against all assets in the Subaccounts (this charge may never be entirely waived);
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∙an administration charge, which is an expense of the Separate Account and charged against all assets in the Subaccounts; and
∙premium taxes, if any.
In addition to charges and deductions under the Contracts, the Portfolios incur expenses that are passed through to Owners. Portfolio expenses for the fiscal year ended December 31, 2019 are described in the Portfolio prospectuses and SAIs.
Any questions or inquiries should be directed to P.O. Box 5423, Cincinnati, Ohio 45201-5423. Please include the Contract number and the Owner's name. You may also call the Company at 1-800 789-6771, or visit us at our web site, www.gaig.com .
The Separate Account is divided into Subaccounts. Each Subaccount invests in the corresponding Portfolio listed below. The prospectus of each Portfolio contains information about its investment objectives, policies and practices, its investment advisor and other service providers, and its expenses. There is no assurance that the Portfolios will achieve their stated objectives. The SEC does not supervise the management or the investment policies and/or practices of any of the Portfolios.
You should read the Portfolio prospectuses carefully before making any decision concerning the allocation of Purchase Payments to, or transfers among, the Subaccounts. For a copy of any prospectus of any Portfolio, which contains more complete information about the Portfolio, contact us at P.O. Box 5423, Cincinnati, Ohio 45201-4523, call us at 1-800-789-6771, or go to our website at www.gaig.com/annuities/pages/variable-compliance-docs.aspx .
The Company and/or its affiliates may directly or indirectly receive payments from the Portfolios and/or their service providers (investment advisers, administrators and/or distributors) in connection with certain administrative, marketing and other services provided by the Company and/or its affiliates and expenses incurred by the Company and/or its affiliates. The Company and/or its affiliates generally receive three types of payments: Rule 12b-1 fees, support fees and other payments. The Company and its affiliates may use the proceeds from these payments for any corporate purpose, including payment of expenses related to promoting, issuing, distributing and administering the Contracts, marketing the underlying Portfolios, and administering the Separate Account. The Company and its affiliates may profit from these payments. More information about these payments is included in the Statement of Additional Information.
Each Morningstar Portfolio and the Wilshire Portfolio listed in the table below is structured as a "fund of funds". A "fund of funds" attempts to achieve its investment objective by investing in other investment companies (each, an "Acquired Fund"), which in turn invests directly in securities. Each Morningstar Portfolio and the Wilshire Portfolio indirectly incurs a proportionate share of the expenses of each Acquired Fund in which it invests. As a result of this fund of funds structure, the Morningstar Portfolios and the Wilshire Portfolio will likely incur higher expenses than funds that invest directly in securities.
Portfolios, Share Classes, Advisors and Portfolio Investment Categories
|
PORTFOLIO |
SHARE |
ADVISOR |
INVESTMENT CATEGORY |
|
|
CLASS |
||||
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||
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AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
|
|||
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Invesco Oppenheimer V.I. Capital |
Series I |
Invesco Advisers, Inc. |
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Appreciation Fund |
US Equity Large Cap Growth: Large Growth |
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|
|||
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Invesco Oppenheimer V.I. Conservative |
Series I |
Invesco Advisers, Inc. |
|
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Balanced Fund |
Cautious Allocation: Large Blend |
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|
Invesco Oppenheimer V.I. Discovery Mid |
Series I |
Invesco Advisers, Inc. |
|
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Cap Growth Fund |
US Equity Mid Cap: Mid Growth |
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|
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Invesco Oppenheimer V.I. Main Street |
Series I |
Invesco Advisers, Inc. |
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Fund® |
US Equity Large Cap Blend: Large Blend |
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|
|||
|
Invesco V.I. American Value Fund |
Series I |
Invesco Advisers, Inc. |
US Equity Mid Cap: Mid Value |
|
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Invesco V.I. Comstock Fund |
Series I |
Invesco Advisers, Inc. |
US Equity Large Cap Value: Large Value |
|
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Invesco V.I. Core Equity Fund |
Series I |
Invesco Advisers, Inc. |
US Equity Large Cap Blend: Large Blend |
|
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Invesco V.I. Diversified Dividend Fund |
Series I |
Invesco Advisers, Inc. |
US Equity Large Cap Value: Large Value |
|
|
Invesco V.I. Health Care Fund |
Series I |
Invesco Advisers, Inc. |
Healthcare Sector Equity: Large Growth |
|
|
Invesco V.I. High Yield Fund |
Series I |
Invesco Advisers, Inc. |
US Fixed Income |
|
|
Invesco V.I. Small Cap Equity Fund |
Series I |
Invesco Advisers, Inc. |
US Equity Small Cap: Small Growth |
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ALPS Variable Investment Trust |
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Morningstar Balanced ETF Asset |
|
ALPS Advisers, Inc. Sub- |
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Class II |
Advisor: Morningstar Investment |
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||
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Allocation Portfolio |
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Management LLC |
Moderate Allocation: Large Blend |
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Morningstar Conservative ETF Asset |
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ALPS Advisers, Inc. Sub- |
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Class II |
Advisor: Morningstar Investment |
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||
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Allocation Portfolio |
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Management LLC |
Cautious Allocation: Large Value |
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Morningstar Growth ETF Asset Allocation |
Class II |
ALPS Advisers, Inc. Sub- |
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Portfolio |
Advisor: Morningstar Investment |
Aggressive Allocation: Large Blend |
||
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||||
11
|
PORTFOLIO |
|
SHARE |
ADVISOR |
INVESTMENT CATEGORY |
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CLASS |
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Management LLC |
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Morningstar Income and Growth ETF |
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ALPS Advisers, Inc. Sub- |
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Class II |
Advisor: Morningstar Investment |
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Asset Allocation Portfolio |
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||
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Management LLC |
Cautious Allocation: Large Blend |
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American Century Variable Portfolios, Inc. |
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VP Capital Appreciation Fund |
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Class I |
American Century Investment |
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Management, Inc. |
US Equity Mid Cap: Mid Growth |
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VP Large Company Value Fund |
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Class I |
American Century Investment |
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Management, Inc. |
US Equity Large Cap Value: Large Value |
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||
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VP Mid Cap Value Fund |
|
Class I |
American Century Investment |
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Management, Inc. |
US Equity Mid Cap: Mid Value |
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|
VP Ultra® Fund |
|
Class I |
American Century Investment |
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Management, Inc. |
US Equity Large Cap Growth: Large Growth |
||
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|
BNY Mellon Investment Portfolios |
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MidCap Stock Portfolio |
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Service |
BNY Mellon Investment Adviser, |
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|
Shares |
Inc. |
US Equity Mid Cap: Mid Blend |
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|||
|
Technology Growth Portfolio |
|
Initial Shares |
BNY Mellon Investment Adviser, |
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Inc. |
Technology Sector Equity: Large Growth |
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BNY Mellon Stock Index Fund, Inc. |
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BNY Mellon Investment Adviser, |
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Inc. |
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BNY Mellon Stock Index Fund, Inc. |
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Initial Shares |
Index Manager: Mellon |
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Investments Corporation (an |
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||
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affiliate of BNY Mellon Investment |
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Adviser, Inc.) |
US Equity Large Cap Blend: Large Blend |
|
BNY Mellon Sustainable U.S. Equity Portfolio, Inc. |
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BNY Mellon Investment Adviser, |
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BNY Mellon Sustainable U.S. Equity |
|
Initial Shares |
Inc. |
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Portfolio, Inc. |
|
Sub-Advisor: Newton Investment |
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Management Limited |
US Equity Large Cap Blend: Large Blend |
|
BNY Mellon Variable Investment Fund |
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Adviser: BNY Mellon Investment |
|
|
Appreciation Portfolio |
|
Initial Shares |
Adviser, Inc. |
|
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|
|
Sub-Adviser: Fayez Sarofim & Co. |
US Equity Large Cap Blend: Large Growth |
|
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|
|
Dreyfus Cash Investment |
|
|
Government Money Market Portfolio |
|
|
Strategies, a division of BNY |
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|
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|
|
Mellon Investment Adviser, Inc. |
US Money Market |
|
Growth and Income Portfolio |
|
Initial Shares |
BNY Mellon Investment Adviser, |
|
|
|
Inc. |
US Equity Large Cap Growth: Large Growth |
||
|
|
|
|
||
|
Opportunistic Small Cap Portfolio |
|
Initial Shares |
BNY Mellon Investment Adviser, |
|
|
|
Inc. |
US Equity Small Cap: Small Blend |
||
|
|
|
|
||
|
Deutsche DWS Investments VIT Funds |
|
|
|
|
|
DWS Small Cap Index VIP |
|
Class A |
DWS Investment Management |
|
|
|
Americas, Inc. |
US Equity Small Cap: Small Blend |
||
|
|
|
|
||
|
Franklin Templeton Variable Insurance Products Trust |
|
|
||
|
Templeton Foreign VIP Fund |
|
Class 2 |
Templeton Investment Counsel, |
|
|
|
LLC |
Global Equity Large Cap: Large Value |
||
|
|
|
|
||
|
Janus Aspen Series |
|
|
|
|
|
Janus Henderson VIT Balanced Portfolio |
|
Institutional |
Janus Capital Management LLC |
|
|
|
Shares |
Moderate Allocation: Large Blend |
||
|
|
|
|
||
|
Janus Henderson VIT Enterprise Portfolio |
|
Institutional |
Janus Capital Management LLC |
|
|
|
Shares |
US Equity Mid Cap: Mid Growth |
||
|
|
|
|
||
|
Janus Henderson VIT Forty Portfolio |
|
Institutional |
Janus Capital Management LLC |
|
|
|
Shares |
US Equity Large Cap Growth: Large Growth |
||
|
|
|
|
||
|
Janus Henderson VIT Overseas Portfolio |
|
Institutional |
Janus Capital Management LLC |
|
|
|
Shares |
Global Equity Large Cap: Large Blend |
||
|
|
|
|
||
|
Janus Henderson VIT Research Portfolio |
|
Institutional |
Janus Capital Management LLC |
|
|
|
Shares |
US Equity Large Cap Growth: Large Growth |
||
|
|
|
|
||
12
|
PORTFOLIO |
SHARE |
ADVISOR |
INVESTMENT CATEGORY |
|
|
CLASS |
||||
|
|
|
|
||
|
Morgan Stanley Variable Insurance Fund, Inc. |
|
|
||
|
Core Plus Fixed Income Portfolio |
Class I |
Morgan Stanley Investment |
|
|
|
Management, Inc. |
US Fixed Income |
|||
|
|
|
|||
|
Discovery Portfolio |
Class I |
Morgan Stanley Investment |
|
|
|
Management, Inc. |
US Equity Mid Cap: Mid Growth |
|||
|
|
|
|||
|
U.S. Real Estate Portfolio |
Class I |
Morgan Stanley Investment |
|
|
|
Management, Inc. |
Real Estate Sector Equity: Mid Value |
|||
|
|
|
|||
|
PIMCO Variable Insurance Trust |
|
|
|
|
|
PIMCO Real Return Portfolio |
Administrative |
Pacific Investment Management |
|
|
|
Class |
Company LLC |
US Fixed Income |
||
|
|
||||
|
PIMCO Total Return Portfolio |
Administrative |
Pacific Investment Management |
|
|
|
Class |
Company LLC |
US Fixed Income |
||
|
|
||||
|
Wilshire Variable Insurance Trust |
|
|
|
|
|
Wilshire Global Allocation Fund |
|
Wilshire Associates Incorporated |
Moderate Allocation: Large Blend |
|
The investment category for a Portfolio that is listed in the table above was assigned by an unaffiliated provider of independent investment research and is based on portfolio statistics and compositions over the past three years.
The available fixed investment options are:
∙Fixed Accumulation Account Option
∙Fixed Account Option One-Year Guarantee Period
∙Fixed Account Option Three-Year Guarantee Period
∙Fixed Account Option Five-Year Guarantee Period
∙Fixed Account Option Seven-Year Guarantee Period
Note: Currently, you may not allocate Purchase Payments or transfer amounts to the Fixed Account Option One-Year Guarantee Period.
Interests in the Fixed Account options are not securities and are not registered with the SEC. Amounts allocated to the Fixed Account options will receive a stated rate of interest equal to or greater than the minimum required under the law of the state when and where the Contract is issued. Amounts allocated to the Fixed Account options and interest credited to the Fixed Account options are guaranteed by the Company.
There are restrictions on allocations to the Fixed Accounts, which are more fully described in the Purchase Payments and Investment Options-Allocations sections of this prospectus. There are also restrictions on transfers to and from the Fixed Accounts, which are described more fully in the Transfers section of this prospectus.
Amounts allocated to the Fixed Accumulation Account will receive a stated rate of interest equal to or greater than the minimum required under the law of the state when and where the Contract is issued. We may from time to time pay a higher current interest rate for the Fixed Accumulation Account.
Fixed Account Options with Guarantee Periods
Amounts allocated to a Fixed Account option with a guarantee period will receive a stated rate of interest for the guarantee period. The stated rate of interest will not change during the applicable guarantee period. The stated rate of interest will be equal to or greater than the minimum required under the law of the state when and where the Contract is issued.
Example: You allocate $5,000 to the Fixed Account Option Five-Year Guarantee Period when the stated rate of interest for the option is 3.5%. The $5,000 you allocated to the option will earn interest at a rate of 3.5% per year, compounded annually, for the next five years.
Renewal of Fixed Account Options with Guarantee Periods. At the end of a guarantee period and for 30 days preceding the end of the period, the Owner may elect a new option to replace the option that is then maturing. The Company will notify the Owner of the date on which the amount matures and Fixed Account options available at that time.
The entire amount in the maturing option may be re-allocated to any of the then-current Fixed Account options or Subaccounts. The Owner may not re-allocate to a Fixed Account option with a guarantee period that would extend beyond the annuity commencement date (the "latest date").
If the Owner does not elect a new option, the entire amount maturing will be re-allocated to the maturing option so long as its guarantee period does not extend beyond the "latest date." If the guarantee period extends beyond the "latest date," the entire amount maturing will be re-allocated to the Fixed Account option with the longest available guarantee period that expires before the "latest date" or, failing that, the Fixed Accumulation option.
13
Example: You allocate $5,000 to the Fixed Account Option Five-Year Guarantee Period. At the end of the five-year guarantee period, the "latest date" will occur in nine years. You do not elect a new option. The $5,000 is re-allocated to the Fixed Account Option Five- Year Guarantee Period for another five years. At the end of second five-year guarantee period, the "latest date" will occur in four years. Once again, you do not elect a new option. The $5,000 cannot be re-allocated to the Fixed Account Option Five-Year Guarantee Period because the five-year guarantee period will extend beyond the "latest date." No Fixed Account option with a shorter guarantee period is then available. The $5,000 is re-allocated to the Fixed Accumulation Account option.
PURCHASE PAYMENTS AND ALLOCATION TO INVESTMENT OPTIONS
Each Contract allows for an Accumulation Period during which Purchase Payments are invested according to the Owner's instructions. During the Accumulation Period, the Owner can control the allocation of investments through transfers or through the following investment programs offered by the Company: dollar cost averaging, portfolio rebalancing and interest sweep. For more information on these programs, see the Automatic Transfer Programs section of this prospectus. The telephone, facsimile and Internet transfer procedures are described in the Transfers section of this prospectus. The Owner can access the Account Value during the Accumulation Period through surrenders or withdrawals, systematic withdrawals, or contract loans (if available). These withdrawal features are described more fully in the Surrender and Withdrawals and Contract Loans sections of this prospectus.
Purchase payments may be made at any time during the Accumulation Period. The current restrictions on purchase payment amounts are set out in the table below.
|
|
Tax-Qualified |
Non-Tax-Qualified |
|
Minimum initial Purchase Payment |
$2,000 |
$5,000 |
|
Minimum monthly payments under periodic payment program |
$50 |
$100 |
|
Minimum additional payments |
$50 |
$50 |
|
Maximum single Purchase Payment |
$65,000 or Company approval |
$65,000 or Company approval |
|
Maximum total Purchase Payments |
$500,000 or Company approval |
$500,000 or Company approval |
The Company reserves the right to increase or decrease the minimum initial Purchase Payment or minimum Purchase Payment under a periodic payment program, the minimum allowable additional Purchase Payment, or the maximum single Purchase Payment, at its discretion and at any time, where permitted by law. The Company may, in its sole discretion, restrict or prohibit the allocation of Purchase Payments to any Fixed Account option or any Subaccount from time to time on a nondiscriminatory basis.
Processing of Purchase Payments. Each Purchase Payment will be applied by the Company to the credit of the Owner's account.
∙If the application or order ticket form is in Good Order, the Company will apply the initial Purchase Payment to the Owner's account within two business days of receipt of the Purchase Payment at the Company's administrative office.
∙If the application or order ticket form is not in Good Order, the Company will attempt to get the application or order ticket form in Good Order within five business days. If the application or order ticket form is not in Good Order at the end of this period, the Company will inform the applicant of the reason for the delay and that the Purchase Payment will be returned immediately unless he or she specifically gives the Company consent to keep the Purchase Payment until the application or order ticket form is in Good Order. Once the application or order ticket form is in Good Order, the Purchase Payment will be applied to the Owner's account within two business days.
Each additional Purchase Payment is credited to a Contract as of the Valuation Date on which the Company receives the Purchase Payment and any related allocation instructions in Good Order at its administrative office. If any portion of the additional Purchase Payment is allocated to a Subaccount, it will be applied at the next Accumulation Unit Value calculated after the Company receives the Purchase Payment and related allocation instructions in Good Order at its administrative office.
Unforeseen Processing Delays. We are exposed to risks related to natural and man-made disasters and catastrophes, such as (but not limited to) storms, fires, floods, earthquakes, public health crises, malicious acts, and terrorist acts, any of which could adversely affect our ability to conduct business. A natural or man-made disaster or catastrophe, including a pandemic (such as COVID-19), could affect the ability or willingness of our employees or the employees of our service providers to perform their job responsibilities. While many of our employees and the employees of our service providers are able to work remotely, those remote work arrangements may result in our business operations being less efficient than under normal circumstances and could lead to delays in our processing of contract-related transactions, including orders from contract owners. Catastrophic events may negatively affect the computer and other systems on which we rely, impact our ability to calculate Accumulation Unit Values, or have other possible negative impacts. There can be no assurance that our service providers will be able to successfully avoid negative impacts associated with natural and man-made disasters and catastrophes.
14
Investment Options—Allocations
Purchase payments can be allocated in whole percentages to any of the available Subaccounts or Fixed Account options. The current restrictions on allocations are set out in the table below. The Company may, in its sole discretion, restrict, delay or prohibit allocations to any Fixed Account option or any Subaccount from time to time on a nondiscriminatory basis.
|
|
Tax-Qualified and Non-Tax-Qualified |
|
Minimum allocation to any Subaccount |
$10 |
|
Minimum allocation to Fixed Accumulation Account |
$10 |
|
Minimum allocation to a Fixed Account option with a guarantee |
$2,000 |
|
period |
No amounts may be allocated to a guarantee period option that |
|
|
would extend beyond the Annuity Commencement Date. |
|
Restrictions on allocations to either Five-Year Guarantee |
For Contracts issued after May 1, 2004 for states where the |
|
Interest Rate Option or Seven-Year Guarantee Interest Rate |
Company has received regulatory approval, amounts may be |
|
Option |
allocated to the Five-Year Guarantee Interest Rate Option and the |
|
|
Seven-Year Guarantee Interest Rate Option only during the first |
|
|
contract year. |
|
Restrictions on allocations during right to cancel period |
No current restrictions; however, the Company reserves the right |
|
|
to require that Purchase Payment(s) be allocated to the money |
|
|
market Subaccount or to the Fixed Accumulation Account option |
|
|
during the right to cancel period. |
Principal Guarantee Program. An Owner may elect to have the Company allocate a portion of a Purchase Payment to the Fixed Account Option Seven-Year Guarantee Period (the "Seven Year Option") such that, at the end of the seven year guarantee period, that account will grow to an amount equal to the total Purchase Payment (so long as there are no surrenders or withdrawals or loans from the Contract). The Company determines the portion of the Purchase Payment that must be allocated to the Seven Year Option such that, based on the interest rate then in effect, that account will grow to equal the full amount of the Purchase Payment after seven years. The remainder of the Purchase Payment will be allocated according to the Owner's instructions. The minimum Purchase Payment eligible for the principal guarantee program is $5,000. The principal guarantee program is only available during the first contract year.
Example: You make one Purchase Payment of $100,000 and you elect the principal guarantee program. At the time of your purchase, the interest rate for the Seven Year Option is 3.75%. We allocate $77,282.87 to the Seven Year Option. You allocate the remaining $22,717.13 to a variable investment option. The $77,282.87 allocated to the Seven Year Option earns interest at an annual rate of 3.75%. The variable investment option performs poorly and, for the seven-year period, has a return of -5%.
∙Because you selected the principal guarantee program, the $77,282.87 allocated to the Seven Year Option grows to $100,000 after seven years. On the other hand, you lose $1,135.86 (-5% x $22,717.13) in the variable option during the seven-year period. The $22,717.13 allocated to the variable option declines to $21,581.27 ($22,717.13 - $1,135.86). As a result, your account value is $121,581.27 ($100,000 + $21,581.27) after seven years.
∙If you did not select the principal guarantee program and allocated all of your Purchase Payment to the variable option, your account would have a –5% return for the seven-year period. In this case, you would lose $5,000 (-5% x $100,000) and your account value would be $95,000 ($100,000 - $5,000) after seven years.
|
|
With Principal Guarantee Program |
|
Without Principal Guarantee Program |
|||
|
|
At time of purchase |
After 7 years |
|
At time of purchase |
After 7 years |
|
|
Seven Year Option |
$77,282.87 |
$ |
100,000.00 |
$0 |
$0 |
|
|
Variable Option |
$22,717.13 |
$ |
21,581.27 |
$100,000 |
$95,000 |
|
|
Account Value |
$100,000.00 |
$ |
121,581.27 |
$100,000 |
$95,000 |
|
The amount that must be allocated to the Seven Year Option under the principal guarantee program varies based on the interest rate in effect at the time of the Purchase Payment.
∙A higher interest rate means that a smaller portion of the Purchase Payment must be allocated to the Seven Year Option.
∙A lower interest rate means that a larger portion of the Purchase Payment must be allocated to the Seven Year Option.
There are two types of charges and deductions assessed by the Company.
∙Charges and deductions we assess against your Contract
∙Charges and deductions we assess against the Separate Account
15
Charges and Deductions Assessed against Your Contract
There are charges assessed to the Contract that are reflected in the Account Value of the Contract, but not in Accumulation Unit Values (or Benefit Unit Values). These charges are the contingent deferred sales charge, the annual contract maintenance fee, transfer fees, and premium taxes, where applicable.
|
Contingent Deferred Sales |
Purpose of Charge: Offset expenses incurred by the Company in the sale of the Contracts, including |
||||||||||
|
Charge ("CDSC") |
commissions paid and costs of sales literature. |
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|
|
|
|
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|
|||
|
Amount of Charge |
Up to 7% of each Purchase Payment withdrawn from the Contract depending on number of years |
||||||||||
|
|
elapsed between the date of receipt of the Purchase Payment and the date written request for |
||||||||||
|
|
withdrawal or surrender is received. The CDSC is calculated as a percentage of the Purchase Payment |
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|
|
withdrawn or surrendered. |
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|
Number of full years elapsed |
0 |
1 |
2 |
3 |
4 |
5 |
6 |
7 + |
|
|
|
|
CDSC |
7% |
6% |
5% |
4% |
3% |
2% |
1% |
0% |
|
|
|
|
||||||||||
|
When and How Deducted |
On surrenders or withdrawals of Purchase Payments, not earnings, during Accumulation Period. For |
||||||||||
|
|
purposes of calculating the CDSC, we process withdrawals and surrenders against Purchase Payments |
||||||||||
|
|
in the order in which we received the Purchase Payments. |
|
|
|
|
|
|||||
|
Waivers |
∙ Free withdrawal privilege. See the Surrender and Withdrawals section of this prospectus for |
||||||||||
|
|
|
information. |
|
|
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|
|
|
|
|
|
|
|
∙ In the Company's discretion where the Company incurs reduced sales and servicing expenses. |
||||||||||
|
|
∙ Upon separation from service if Contract issued with employer plan endorsement or deferred |
||||||||||
|
|
|
compensation endorsement. |
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∙ If the Contract is issued with a tax-sheltered annuity endorsement (and without an employer plan |
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endorsement): (1) upon separation from service if Owner has attained age 55 and Contract has |
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been in force for at least seven years; or (2) after Contract has been in force 10 years or more. |
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∙ Long-term care waiver rider. See the Surrender and Withdrawals section of this prospectus for |
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information. |
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∙ If the Social Security Administration determines after the Contract is issued that the Owner is |
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"disabled" as that term is defined in the Social Security Act of 1935, as amended. |
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∙ See Stepped Up Account Value. See the Step Up in Account Value for Successor Owner section |
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of this prospectus for information. |
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∙ Where required to satisfy state law or required for participation in certain retirement plans. |
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Deduction for Contingent Deferred Sales Charge When You Take a Withdrawal. Unless you instruct us otherwise, any contingent
deferred sales charge that applies to a withdrawal will be deducted from the amount remaining in your account after you receive the amount you requested. In other words, the amount of the withdrawal will be grossed-up to cover the charge. For example, if the charge is 4%, you request $100, and no waiver applies, you receive $100, the charge is $4.17, and the total withdrawal from your account is $104.17.
Contract Maintenance Fee Purpose of Charge: Offset expenses incurred in issuing the Contracts and in maintaining the Contracts and the Separate Account.
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Amount of Charge |
$30.00 per year. |
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When and How Deducted |
During the Accumulation Period, the charge is deducted pro rata from amounts invested in the |
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Subaccounts on each anniversary of the effective date of the Contract, and at time of surrender. During |
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the Benefit Payment Period, a portion of the charge is deducted from each variable dollar benefit |
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payment. |
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Waivers |
∙ During the Accumulation Period if the Account Value is at least $40,000 on the date the charge is |
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due (individual contracts only). |
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∙ During the Benefit Payment Period if the amount applied to a variable dollar benefit is at least |
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$40,000 (individual contracts only). |
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∙ In the Company's discretion where the Company incurs reduced sales and servicing expenses. |
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∙ During the Benefit Payment Period where required to satisfy state law. |
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Transfer Fee |
Purpose of Charge: Offset cost incurred in administering the Contracts. |
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Amount of Charge |
$25 for each transfer in excess of 12 in any contract year. The Company reserves the right to change |
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the amount of this charge at any time or the number of transfers that can be made without incurring the |
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transfer fee. The maximum amount of the fee that the Company would impose on a transfer is $30. |
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16 |
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When and How Deducted |
During the Accumulation Period, the fee is deducted from the amount transferred. |
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Waivers |
Currently, the transfer fee does not apply to transfers associated with the dollar cost averaging, interest |
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sweep and portfolio rebalancing programs. Transfers associated with these programs do not count |
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toward the 12 free transfers permitted in a contract year. The Company reserves the right to eliminate |
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this waiver at any time. |
Premium Taxes. Currently some state governments impose premium taxes on annuity purchase payments. These taxes currently range from zero to 3.5% depending upon the jurisdiction. A federal premium tax has been proposed but not enacted. The Company will deduct any applicable premium taxes from the Account Value either upon death, withdrawal, surrender, annuitization, or at the time Purchase Payments are made, but no earlier than when the Company incurs a tax liability under applicable law.
Expenses Related to Loans. If loans are available under your Contract and you borrow money under the loan provisions of your Contract, we will charge interest on the loan. The maximum interest rate we charge on a loan is 8%. For more information about loans, see the Contract Loans section of the prospectus.
Charges and Deductions Assessed against the Separate Account
There are also charges assessed against the Separate Account. These charges are reflected in the Accumulation Unit Values (and Benefit Unit Values) of the Subaccounts. These charges are the administration charge and the mortality and expense risk charge.
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Administration Charge |
Purpose of Charge: Offset expenses incurred in administering the Contracts and the Separate |
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Account. |
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Amount of Charge |
Daily charge equal to 0.000411% of the daily Net Asset Value for each Subaccount, which corresponds |
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to an annual effective rate of 0.15%. |
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When and How Deducted |
During the Accumulation Period and during the Benefit Payment Period if a variable dollar benefit is |
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elected, the charge is deducted from amounts invested in the Subaccounts. |
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Waivers |
May be waived or reduced in the Company's discretion where the Company incurs reduced sales and |
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servicing expenses. |
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Mortality and Expense |
Purpose of Charge: Compensation for bearing certain mortality and expense risks under the Contract. |
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Risk Charge |
Mortality risks arise from the Company's obligation to make benefit payments during the Benefit |
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Payment Period and to pay the death benefit. The expense risk assumed by the Company is the risk |
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that the Company's actual expenses in administering the Contracts and the Separate Account will |
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exceed the amount recovered through the contract maintenance fees, transfer fees and administration |
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charges. |
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Amount of Charge |
Daily charge equal to 0.003446% of the daily Net Asset Value for each Subaccount, which corresponds |
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to an effective annual rate of 1.25%. |
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When and How Deducted |
During the Accumulation Period, and during the Benefit Payment Period if a variable dollar benefit is |
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elected, the charge is deducted from amounts invested in the Subaccounts. |
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Waivers |
When the Company expects to incur reduced sales and servicing expenses with respect to a group |
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contract, it may issue a Contract with a reduced mortality and expense risk charge. These Contracts are |
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referred to as "Enhanced Group Versions" of the Contract. The mortality and expense risk charge under |
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an Enhanced Contract is a daily charge of 0.002615% of the daily Net Asset Value for each |
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Subaccount, which corresponds to an effective annual rate of 0.95%. |
Expenses of the Portfolios. In addition to charges and deductions by the Company, there are Portfolio management fees and administration expenses, which are described in the prospectus and Statement of Additional Information for each Portfolio. Portfolio expenses, like Separate Account expenses, are reflected in Accumulation Unit Values (or Benefit Unit Values).
Maximum Charges and Deductions
Except as indicated above, the Company will never charge more to a Contract than the fees and charges described above, even if its actual expenses exceed the total fees and charges collected. If the fees and charges collected by the Company exceed the actual expenses it incurs, the excess will be profit to the Company and will not be returned to Owners.
The Company reserves the right to increase the amount of the transfer fee in the future, and/or to charge fees for the automatic transfer programs described in the Transfers section of this prospectus, and/or for the systematic withdrawal program described in the Surrender and Withdrawals section of this prospectus if, in the Company's discretion, it determines such charges are necessary to offset the costs of administering transfers or systematic withdrawals.
Discretionary Waivers of Charges
The Company will look at the following factors to determine if it will waive a charge, in part or in full, due to reduced sales and servicing expenses: (1) the size and type of the group to which sales are to be made; (2) the total amount of purchase payments to be received; and (3) any prior or existing relationship with the Company. The Company would expect to incur reduced sales and servicing expenses in connection with Contracts offered to employees of the Company, its subsidiaries and/or affiliates. There may be other circumstances,
17
of which the Company is not presently aware, which could result in reduced sales and servicing expenses. In no event will the Company waive a charge where such waiver would be unfairly discriminatory to any person.
If allowed by the Company, in its sole discretion, during the Accumulation Period, an Owner may transfer amounts among Subaccounts, between Fixed Account options, and/or between Subaccounts and Fixed Account options by written request once each Valuation Period.
A transfer is effective on the Valuation Date during which the Company receives the request for transfer at its administrative office. Transfers to a Subaccount will be processed at the next Accumulation Unit Value calculated after the Company receives the transfer request in Good Order at its administrative office. The Company may, in its sole discretion, restrict, delay or prohibit transfers to any Fixed Account option or any Subaccount from time to time on a nondiscriminatory basis.
Current Restrictions on Transfers. The current restrictions on transfers are set out in the table below.
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Minimum Transfer Amounts |
Tax-Qualified and Non-Tax-Qualified |
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Minimum transfer from any Subaccount |
$500 or balance of Subaccount, if less than $1,000 |
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Minimum transfer from Fixed Account option |
$500 or balance of Fixed Account option, if less |
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Minimum transfer to Fixed Accumulation Account |
None |
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Minimum transfer to Fixed Account option with guarantee |
$2,000 |
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period |
No amounts may be transferred to a guarantee period option that |
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would extend beyond the Annuity Commencement Date. |
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Maximum Transfer Amounts |
Tax-Qualified and Non-Tax-Qualified |
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Maximum transfer from Fixed Accumulation Account |
During any contract year, 20% of the Fixed Account option's value |
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as of the most recent Contract anniversary. |
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Maximum transfer from maturing Fixed Account option with |
The amount contained in the maturing Fixed Account option with |
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guarantee period |
guarantee period. |
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Maximum transfer from non-maturing Fixed Account option |
During any contract year, 20% of the Fixed Account option's value |
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with guarantee period |
as of the most recent Contract anniversary without penalty. |
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Timing Restrictions |
Tax-Qualified and Non-Tax-Qualified |
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Timing restrictions on transfers from Fixed Account options |
∙ Transfers from Fixed Account options may not be made prior to |
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first Contract anniversary. |
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∙ Amounts transferred from Fixed Account options to |
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Subaccounts may not be transferred back to Fixed Account |
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options for a period of six months from the date of the original |
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transfer. |
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Timing restrictions on transfers to Fixed Account option with |
For Contracts issued after May 1, 2004 in states where the |
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guarantee period |
Company has received regulatory approval, amounts may be |
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transferred to the Three-Year Guarantee Interest Rate Option only |
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during the first contract year. |
How to Request a Transfer. Currently, instead of placing a request in writing, an Owner may place a request to transfer all or part of the Account Value by telephone, facsimile or over the Internet. All transfers must be in accordance with the terms of the Contract. Transfer instructions are currently accepted once each Valuation Period. Transfer instructions currently may be placed by telephone at 1- 800-789-6771, or via facsimile at 513-768-5115, or over the Internet through the Company's web site at www.gaig.com, between 9:30 a.m. and 4:00 p.m. Once instructions have been accepted, they may not be rescinded; however, new instructions may be given the following Valuation Period. Access to these alternate methods of placing transfer requests, particularly through the Company's web site, may be limited or unavailable during periods of peak demand, system upgrading and maintenance, or for other reasons. The Company may withdraw the right to make transfers by telephone, facsimile or over the Internet upon 10 days' written notice to affected Contract Owners.
The Company will not be liable for complying with transfer instructions that the Company reasonably believes to be genuine, or for any loss, damage, cost or expense in acting on such instructions. In addition, the Company will not be liable for refusing to comply with transfer instructions that are not in Good Order or that the Company reasonably believes are not genuine, or for any loss, damage, cost or expense for failing to act on such instructions. The Owner or person with the right to control payments will bear the risk of such loss. The Company will employ reasonable procedures to determine that telephone, facsimile or Internet instructions are genuine. If the Company does not employ such procedures, the Company may be liable for losses due to unauthorized or fraudulent instructions. These procedures may include, among others, tape recording telephone instructions or requiring use of a unique password or other identifying information.
18
Automatic Transfer Programs. During the Accumulation Period, the Company offers the automatic transfer services described below. To enroll in one of these programs, you will need to complete the appropriate authorization form, which you can obtain from the Company by calling 1-800-789-6771. There are risks involved in switching between investments available under the Contract.
Currently, the transfer fee does not apply to dollar cost averaging, portfolio rebalancing, or interest sweep transfers, and transfers under these programs will not count toward the 12 transfers permitted under the Contract without a transfer fee charge.
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Minimum Account and |
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Service |
Description |
Transfer Requirements |
Limitations/Notes |
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Dollar Cost Averaging Note |
Automatic transfers from the |
Source of funds must be at least |
Dollar cost averaging transfers |
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Dollar cost averaging requires |
money market Subaccount to |
$10,000. Minimum transfer per |
may not be made to any of the |
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regular investments regardless of |
any other Subaccount(s), or from |
month is $500. When balance of |
Fixed Account options. The |
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fluctuating price levels and does |
the Fixed Accumulation Account |
source of funds falls below $500, |
dollar cost averaging transfers |
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not guarantee profits or prevent |
option (where available) to any |
entire balance will be allocated |
will take place on the last |
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losses in a declining market. You |
Subaccount(s), on a monthly or |
according to dollar cost |
Valuation Date of each |
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should consider your financial |
quarterly basis. |
averaging instructions. |
calendar month or quarter as |
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ability to continue dollar cost |
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requested by the Owner. |
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averaging transfers through |
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periods of changing price levels. |
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Portfolio Rebalancing Note |
Automatically transfer amounts |
Minimum Account Value of |
Transfers will take place on the |
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Portfolio rebalancing does not |
between the Subaccounts and |
$10,000. |
last Valuation Date of each |
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guarantee profits or prevent |
the Fixed Accumulation Account |
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calendar quarter. Portfolio |
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losses in a declining market. |
option (where available) to |
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rebalancing will not be |
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maintain the percentage |
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available if the dollar cost |
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allocations selected by the |
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averaging program or an |
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Owner. |
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interest sweep from the Fixed |
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Accumulation Account option is |
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being utilized. |
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Interest Sweep |
Automatic transfers of the |
Balance of each Fixed Account |
Interest sweep transfers will |
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income from any Fixed Account |
option selected must be at least |
take place on the last Valuation |
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option(s) to any Subaccount(s). |
$5,000. Maximum transfer from |
Date of each calendar quarter. |
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each Fixed Account option |
Interest sweep is not available |
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selected is 20% of such Fixed |
from the Seven-Year |
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Account option's value per year. |
Guarantee Interest Rate Option |
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Amounts transferred under the |
if the Principal Guarantee |
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interest sweep program will |
Program is selected. |
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reduce the 20% maximum |
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transfer amount otherwise |
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allowed. |
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Changes in or Termination of Automatic Transfer Programs. The Owner may terminate any of the automatic transfer programs at any time but must give the Company at least 30 days' notice to change any automatic transfer instructions that are already in place. Termination and change instructions will be accepted by telephone at 1-800-789-6771, by U.S. or overnight mail, or by facsimile at 513- 768-5115. The Company may terminate, suspend or modify any aspect of the automatic transfer programs described above without prior notice to Owners, as permitted by applicable law. Any such termination, suspension or modification will not affect automatic transfer programs already in place.
The Company may also impose an annual fee or increase the current annual fee, as applicable, for any of the foregoing automatic transfer programs in such amount(s) as the Company may then determine to be reasonable for participation in the program. The maximum amount of the annual fee that would be imposed for participating in each automatic transfer program is $30.
Restrictions on Transfers Relate to Active Trading Strategies. Neither the Contracts described in this prospectus nor the underlying Portfolios are designed to support active trading strategies that involve frequent movement between or among Subaccounts (sometimes referred to as "market-timing" or "short-term trading"). An Owner who intends to use an active trading strategy should consult his/her registered representative and request information on variable annuity contracts that offer underlying Portfolios designed specifically to support active trading strategies.
We have implemented several processes and/or restrictions aimed at eliminating the negative impact of active trading strategies. Transfer restrictions may vary by state.
Appendix B to this prospectus contains more information about the processes and restrictions.
19
An Owner may take a withdrawal or surrender a Contract during the Accumulation Period. A contingent deferred sales charge (CDSC) may apply to a withdrawal or a surrender.
Unless you instruct us otherwise, any CDSC that applies to a withdrawal will be deducted from the amount remaining in your account after you receive the amount you requested. In other words, the amount of the withdrawal will be grossed-up to cover the charge. For example, if the CDSC rate is 4%, you request $100, and no waiver applies, you receive $100, the charge is $4.17, and the total withdrawal from your account is $104.17.
Restrictions and Charges on Withdrawals and Surrenders. The restrictions and charges on withdrawals and surrenders are set out in the table below.
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Minimum amount of withdrawal |
$500 |
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Minimum remaining Surrender Value after withdrawal |
$500 |
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Contract maintenance fee on surrender |
$30 (no CDSC applies to fee) |
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Contingent deferred sales charge |
Up to 7% of Purchase Payments |
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Tax penalty for early withdrawal |
When applicable, 10% of amount distributed before age 59 1/2 (25% for |
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certain SIMPLE IRAs) |
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Amount available for withdrawal or surrender |
∙ |
Tax-Qualified Contract: Account Value, subject to tax law or |
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(valued as of end of Valuation Period in which request for |
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employer plan restrictions on withdrawals or surrenders |
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surrender or withdrawal is received by the Company) |
∙ |
Non-Tax-Qualified Contract: Account Value, subject to employer |
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plan restrictions on withdrawals |
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Order of withdrawal for purposes of CDSC |
∙ First from accumulated earnings (no CDSC applies); and |
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(order may be different for tax purposes) |
∙ Then from Purchase Payments in the order in which we receive them |
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(CDSC may apply) |
A surrender will terminate the Contract. Withdrawals are taken proportionally from all Subaccounts and Fixed Account options in which the Contract is invested on the date the Company receives the request unless the Owner requests that the withdrawal be from a specific investment option.
A withdrawal or surrender is effective on the Valuation Date during which the Company receives the request at its administrative office and will be processed at the next Accumulation Unit Value calculated after the Company receives the request in Good Order at its administrative office. Payment may be delayed if it includes an amount paid to the Company by a check that has not yet cleared. Processing and payment from a Fixed Account option may be delayed for up to six months after receipt of the request as allowed by state law. If the Company delays processing and payment, it will comply with the applicable state law. Payment from the Subaccounts may be delayed during any period the New York Stock Exchange is closed or trading is restricted, or when the SEC either:
(1)determines that there is an emergency which prevents valuation or disposal of securities held in the Separate Account; or (2) permits a delay in payment for the protection of security holders.
Free Withdrawal Privilege. During the first contract year, the Company will waive the CDSC on an amount equal to not more than 10% of all Purchase Payments received. During the second and succeeding contract years, the Company will waive the CDSC on an amount equal to not more than the greater of: (1) accumulated earnings (Account Value in excess of Purchase Payments); or (2) 10% of the Account Value as of the last Contract anniversary.
If the free withdrawal privilege is not exercised during a contract year, it does not carry over to the next contract year. The free withdrawal privilege may not be available under some group Contracts.
Long-Term Care Waiver Rider. If the Long-Term Care Waiver Rider is available in your state, it is automatically provided with your Contract. If a Contract is modified by the Long-Term Care Waiver Rider, a surrender or withdrawal may be made free of any CDSC if the Owner has been confined in a qualifying licensed hospital or long-term care facility for at least 90 days beginning on or after the first Contract anniversary. There is no charge for this rider.
During the Accumulation Period, an Owner may elect to automatically withdraw money from the Contract. The Account Value must be at least $10,000 in order to make a systematic withdrawal election. For systematic withdrawals, the minimum monthly withdrawal amount is $100. Systematic withdrawals will be subject to the CDSC to the extent the amount withdrawn exceeds the free withdrawal privilege. The Owner may begin or discontinue systematic withdrawals at any time by request to the Company, but at least 30 days' notice must be given to change any systematic withdrawal instructions that are currently in place. The Company reserves the right to discontinue offering systematic withdrawals at any time. Currently, the Company does not charge a fee for systematic withdrawal services. However, the Company reserves the right to impose an annual fee in such amount as the Company may then determine to be reasonable for participation in the systematic withdrawal program. If imposed, the fee will not exceed $30 annually.
20
Before electing a systematic withdrawal program, you should consult with a financial advisor. Systematic withdrawal is similar to annuitization but will result in different taxation of payments and a potentially different amount of total payments over the life of the Contract than if annuitization were elected.
If loans are available under a Contract, loan provisions are described in the loan endorsement to the Contract. The Company may make loans to Owners of certain tax-qualified Contracts.
Loan Costs. If loans are available under your Contract and you borrow money under the loan provisions, we will charge interest on the loan. The maximum interest rate we charge is 8%. Any such loans will be secured with an interest in the Contract, and the collateral for the loan will be moved to the Fixed Accumulation Account option. The collateral will earn a fixed rate of interest applicable to loan collateral, which will be equal to or greater than the minimum required under the law of the state when and where the Contract is issued. Generally, we require the collateral amount to be 110% of the outstanding loan balance. The restrictions that otherwise apply to the Fixed Accumulation Account do not apply to transfers of collateral amounts to the Fixed Accumulation Account or to such amounts no longer required to collateralize the loan.
The difference between the interest rate we charge on a loan and the interest rate we credit to the collateral amount is called the "loan interest spread."
∙Because the maximum interest rate we charge on a loan is 8% and the minimum interest rate we credit to the collateral amount in the Fixed Accumulation Account is 1%, the maximum loan interest spread is 7%.
∙Because we are currently charging 6% interest on loans and we are crediting 3% interest on collateral, the current loan interest spread is 3%.
∙A plan administrator or employer retirement plan may require us to charge an interest rate on loans that is higher than 8%. In this case, the maximum loan interest spread will be higher than 7% and the current loan interest spread will be higher than 3%.
Any unpaid interest will be added to the loan. As a result, it will be compounded and be part of the loan.
Impact of Loans. If loans are available under your Contract and you borrow money under the loan provisions, you will not be able to surrender or annuitize your Contract until all such loans are paid in full. Loans may also limit the amount of money that you can withdraw from your Contract. If you default in repaying a loan under your Contract, we may pay off the loan by effectively reducing your Account Value by an amount equal to the balance of the loan.
If we receive money from you while a loan is outstanding under your Contract, we will treat the money as a Purchase Payment unless you notify us that the money is a loan payment.
Loan amounts and repayment requirements are subject to provisions of the Internal Revenue Code, and default on a loan will result in a taxable event. You should consult a tax advisor prior to exercising loan privileges.
A loan, whether or not repaid, will have a permanent effect on the Account Value of a Contract because the collateral cannot be allocated to the Subaccounts or Fixed Account guarantee periods. The longer the loan is outstanding, the greater the effect is likely to be. The effect could be favorable or unfavorable. If the investment results are greater than the rate being credited on collateral while the loan is outstanding, the Account Value will not increase as rapidly as it would have increased if no loan were outstanding. If investment results are below that rate, the Account Value will be higher than it would have been if no loan had been outstanding.
Annuity Commencement Date. You may designate the date that annuity payments will begin and may change the date up to 30 days before annuity payments are scheduled to begin. The Annuity Commencement Date generally must be no later than the Contract anniversary following your 85th birthday or five years after the Contract's effective date, whichever is later. It can be later only if we agree.
Annuity Benefit Amount. The amount applied to a settlement option will be the Account Value as of the end of the Valuation Period immediately preceding the first day of the Benefit Payment Period.
Form of Annuity Benefit Payments. The Owner may select any form of settlement option that is currently available. The standard forms of settlement options are described in the Settlement Options section of this prospectus.
If the Owner has not previously made an election as to the form of settlement option, the Company will contact the Owner to ascertain the form of settlement option to be paid. If the Owner does not select a settlement option, such as a specific fixed dollar benefit payment, a variable dollar benefit payment, or a combination of a variable and fixed dollar benefit payment, the Company will apply the Account Value (or Surrender Value) to payments for the life of the Annuitant with 10 years of payments assured, as described in the Settlement Options section of this prospectus. For Contracts issued after May 1, 2004, in states where the Company has received regulatory approval, these payments will be a combination of variable and fixed dollar payments. For all other Contracts, these payments will be fixed dollar payments.
21
A death benefit will be paid under a Contract if the Owner dies during the Accumulation Period. If a surviving spouse (or civil union partner/domestic partner in applicable states) becomes a Successor Owner of the Contract, the death benefit will be paid on the death of the Successor Owner if he or she dies during the Accumulation Period.
A withdrawal from the Contract may result in a reduction of the Death Benefit that is greater than the amount of the withdrawal.
The calculation of the Death Benefit Amount depends on the form of individual Contract that you received, or the form of the master group Contract that was issued. The different forms contain provisions that affect the way the Death Benefit Amount is calculated.
The charts in the sections below are intended to help you identify the version of the Death Benefit that applies to your Contract. If you have questions about which version of the Death Benefit applies, contact us at P.O. Box 5423, Cincinnati, Ohio 45201-5423, or call us at 1-800-789-6771.
Individual Contracts. If you own an individual Spirit Contract, you can determine whether Version 1, Version 2 or Version 3 applies to your Contract by matching your contract and endorsement form numbers to the form numbers in the chart below.
|
Form Numbers for Individual Contracts |
Issue Dates |
|
Death Benefit Version 1 |
Applies to all individual contracts issued before |
|
A801-BD(Q Rev. 3/97)-3 with no death benefit endorsement |
November 11, 2000, and to contracts in certain |
|
A801-BD(NQ Rev. 3/97)-3 with no death benefit endorsement |
states after that date |
|
Death Benefit Version 2 and Version 2E |
Applies to individual contracts issued in certain |
|
A801-BD(Q Rev. 3/97)-3 with 2000 Death Benefit Endorsement (E1802100NW) |
states after November 11, 2000 |
|
A801-BD(NQ Rev. 3/97)-3 with 2000 Death Benefit Endorsement (E1802100NW) |
|
|
Note: Death Benefit Version 2E will apply to your Contract only if you selected the |
|
|
optional enhanced death benefit when you purchased your Contract. |
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|
|
|
|
Death Benefit Version 3 |
Applies to most individual contracts issued on |
|
A801-BD(Q Rev. 3/97)-3 with 2003 Death Benefit Endorsement (E1807503NW) |
or after June 1, 2003 |
|
A801-BD(NQ Rev. 3/97)-3 with 2003 Death Benefit Endorsement (E1807503NW) |
|
|
P1809003NW |
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P1809103NW |
|
Group Contracts. If you are the owner of a master group Spirit Contract, you can determine whether Version 1 or Version 3 applies to your group Contract by matching your master group contract and endorsement form numbers to the form numbers in the chart below.
If you are a participant under a master group Spirit Contract, the version of the Death Benefit that applies to the master group Contract also applies to your certificate. If you have questions about which version of the Death Benefit applies, you may contact the owner of the master group Contract, or you may contact us at P.O. Box 5423, Cincinnati, Ohio 45201-5423 or call us at 1-800-789-6771.
Note: If a certificate was issued to a participant on or after June 1, 2003, the date on which the certificate was issued does not determine which version of the Death Benefit applies.
|
Form Numbers for Master Group Contracts |
Issue Dates |
|
Death Benefit Version 1 |
Applies to all master group Contracts issued before June 1, |
|
G801-BD(97)-3 with no death benefit endorsement |
2003, and to certain master group Contracts issued after |
|
G801-BD(04)-3 with no death benefit endorsement |
that date, and to all certificates issued to participants under |
|
|
those particular master group Contracts |
|
Death Benefit Version 3 |
Applies to certain master group Contracts issued on or |
|
G801-BD(97)-3 with 2003 Death Benefit Endorsement (E2007803NW) |
after June 1, 2003, and all certificates issued to participants |
|
G801-BD(97)-3 with 2003 Death Benefit Endorsement (E2008003NW) |
under those particular master group Contracts |
|
P20086003NW |
|
Death Benefit Amount (Version 1)
Scenario A: If you die before age 80 and before the Annuity Commencement Date, the death benefit will be based on the largest of the following three amounts:
1)The Account Value on the Death Benefit Valuation Date;
2)The total Purchase Payment(s), with interest at three percent (3%) per year compounded annually, less any withdrawals and any contingent deferred sales charges that applied to those amounts; or
3)The largest Account Value on any Contract anniversary after the fourth Contract anniversary and prior to the Death Benefit Valuation Date, less any withdrawals after such Account Value was determined and any contingent deferred sales charges that applied to those amounts.
22
Scenario B: If you die after age 80 and before the Annuity Commencement Date, the death benefit will be based on the largest of the following three amounts:
1)The Account Value on the Death Benefit Valuation Date;
2)The total Purchase Payment(s), with interest at three percent (3%) per year compounded annually through the Contract anniversary prior to your 80th birthday, less any withdrawals and any contingent deferred sales charges that applied to those amounts; or
3)The largest Account Value on any Contract anniversary after the fourth Contract anniversary and prior to your 80th birthday, less any withdrawals after such Account Value was determined and any contingent deferred sales charges that applied to those amounts.
Scenario C: If your Contract was issued to you after age 80 and you die before the Annuity Commencement Date, the death benefit will be based on the greater of:
1)The Account Value on the Death Benefit Valuation Date; or
2)The total Purchase Payment(s), less any withdrawals and any contingent deferred sales charges that applied to those amounts.
The Death Benefit Amount will be reduced by any premium tax or other tax that is applicable. It will also be reduced by any outstanding loans.
The Death Benefit Amount will be allocated among the Subaccounts and the Fixed Account options. This allocation will occur as of the Death Benefit Valuation Date. It will be made in the same proportion as the value of each option bears to the total Account Value immediately before that date.
Unless transferred by the Beneficiary, the portion of the Death Benefit Amount allocated to the Subaccounts will remain in those Subaccounts until the Death Benefit Commencement Date.
The Death Benefit Amount under this Contract will be finally determined using the Account Value on the Death Benefit Commencement Date. If the Death Benefit Commencement Date is later than the Death Benefit Valuation Date, the Death Benefit amount may be lower than the amount calculated on the Death Benefit Valuation Date.
Example of Determination of Death Benefit Amount for Version 1—Scenario A. This example is intended to help you understand how a withdrawal impacts the Death Benefit amount and how the Version 1 Death Benefit amount is calculated.
This example assumes:
∙your total Purchase Payments equal $100,000 and our Account Value is $90,000,
∙the "largest Account Value" is $140,000,
∙you withdraw $10,000 from the Contract, and you are left with an Account Value of $80,000, and
∙the Death Benefit Commencement Date is not after the Death Benefit Valuation Date.
It also assumes that, for purposes of calculating the Death Benefit Amount, total Purchase Payments will be increased by interest in the amount of $42,576, which represents interest at an annual effective rate of 3% for 15 years.
Step One: Calculate the Purchase Payment amount, increased by interest and reduced for withdrawals.
|
Purchase Payments |
$100,000 |
|
Plus interest |
+ 42,576 |
|
Purchase Payments increased by interest |
142,576 |
|
Less reduction for withdrawals |
– 10,000 |
|
Purchase Payments increased by interest and |
|
|
and reduced for withdrawals |
$132,576 |
Step Two: Calculate the largest Account Value amount, reduced for withdrawals.
|
|
Largest Account Value |
$140,000 |
|
|
|
|
|
Less reduction for withdrawals |
– 10,000 |
|
|
|
|
|
Largest Account Value reduced for withdrawals |
$130,000 |
|
|
|
|
|
|
|
|
|
|
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Step Three: Determine the Death Benefit amount. |
|
|
|
||
|
|
Immediately after the withdrawal, the applicable amounts are: |
|
|
|
|
|
|
∙ |
Account Value |
$80,000 |
|
|
|
|
∙ |
reduced Purchase Payments, increased by interest |
$132,576 |
|
|
|
|
∙ |
reduced largest Account Value |
$130,000 |
|
|
Immediately after the withdrawal, the reduced Purchase Payments plus interest of $132,576 is greater than the reduced largest Account Value of $130,000 and the Account Value of $80,000, so the Death Benefit amount would be $132,576.
23
Death Benefit Amount (Version 2)
The Death Benefit will be based on the greatest of:
1)the Account Value on the Death Benefit Valuation Date; or
2)the Minimum Death Benefit; or
3)the Historic High Value;
The reduction for a withdrawal will be the same percentage as the percentage reduction in the Account Value. A withdrawal from the Contract may result in a reduction of the Death Benefit that is greater than the amount of the withdrawal. The Death Benefit Amount will be reduced by any premium tax or other tax that is applicable. It will also be reduced by any outstanding loans.
The Death Benefit Amount will be allocated among the Subaccounts and the Fixed Account options. This allocation will occur as of the Death Benefit Valuation Date. It will be made in the same proportion as the value of each option bears to the total Account Value immediately before that date.
Unless transferred by the Beneficiary, the portion of the Death Benefit Amount allocated to the Subaccounts will remain in those Subaccounts until the Death Benefit Commencement Date.
The Death Benefit Amount under this Contract will be finally determined using the Account Value on the Death Benefit Commencement Date. If the Death Benefit Commencement Date is later than the Death Benefit Valuation Date, the Death Benefit amount may be lower than the amount calculated on the Death Benefit Valuation Date.
Minimum Death Benefit. The Minimum Death Benefit is equal to total Purchase Payments, reduced proportionally for withdrawals, and increased by interest, if any. This reduction will be in the same proportion that the Account Value was reduced on the date of the withdrawal.
∙If the Owner dies before Age 80, interest compounds daily, at an effective annual interest rate of 3%, to the Death Benefit Valuation Date.
∙If the Owner dies on or after his 80th birthday, interest compounds daily, at an effective annual interest rate of 3%, to the Contract anniversary prior to the 80th birthday.
∙No interest will be added if the Owner was Age 80 before this Contract was issued.
Historic High Value. The Historic High Value is equal to the High Value, reduced proportionally for withdrawals taken after the High Value was reached. This reduction will be in the same proportion that the Account Value was reduced on the date of the withdrawal.
High Value. The High Value is the largest Account Value on the fifth or any subsequent Contract anniversary, but before the Death Benefit Valuation Date and prior to Age 80. If this Contract was issued after the Owner's 75th birthday, there is no High Value. This means there is no Historic High Value.
Example of Determination of Death Benefit Amount for Version 2. This example is intended to help you understand how a withdrawal impacts the Death Benefit amount and how the Version 2 Death Benefit amount is calculated.
This example assumes:
∙your total Purchase Payments equal $100,000 and your Account Value is $90,000,
∙the "High Value" is $140,000,
∙you withdraw $10,000 from the Contract, and you are left with an Account Value of $80,000; and
∙the Death Benefit Commencement Date is not after the Death Benefit Valuation Date.
It also assumes that, for purposes of calculating the Death Benefit Amount, total Purchase Payments will be increased by interest in the amount of $42,576, which represents interest at an annual effective rate of 3% for 15 years.
24
Step One: Calculate the proportional reduction in the Purchase Payment amount.
|
1 – |
$80,000 |
Account Value immediately after withdrawal |
|
= 11.1111% |
Percentage |
|||
|
$90,000 |
Account Value immediately before withdrawal |
|
Reduction |
|||||
|
|
|
|
||||||
|
$100,000 |
Purchase |
x 11.1111% |
Percentage |
= $11,111 |
Proportional |
|
||
|
Payments |
Reduction |
Reduction |
|
|||||
|
|
|
|
|
|
||||
Step Two: Calculate the Minimum Death Benefit (reduced Purchase Payment amount, increased by interest).
|
Purchase Payments |
$100,000 |
|
Less proportional reduction for withdrawals |
– 11,111 |
|
Purchase Payments reduced for withdrawals |
88,889 |
|
Plus interest |
+ 42,576 |
|
Minimum Death Benefit |
$131,465 |
Step Three: Calculate the proportional reduction in the High Value.
|
1 – |
$80,000 |
|
Account Value immediately after withdrawal |
|
= 11.1111% |
Percentage |
||
|
$90,000 |
|
Account Value immediately before withdrawal |
|
Reduction |
||||
|
|
|
|
|
|||||
|
$140,000 |
High |
x 11.1111% |
Percentage |
= $15,556 |
Proportional |
|
||
|
Value |
Reduction |
Reduction |
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|||||
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|
||||
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Step Four: Calculate the Historic High Value amount, which is the same as the reduced High Value amount.
|
|
High Value |
$140,000 |
|
|
|
|
Less proportional reduction for withdrawals |
– 15,556 |
|
|
|
|
Historic High Value |
$124,444 |
|
|
|
|
|
|
|
|
|
Step Five: Determine the Death Benefit amount. |
|
|
||
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|
Immediately after the withdrawal, the applicable amounts are: |
|
|
|
|
|
∙ |
Account Value |
$80,000 |
|
|
|
∙ |
Minimum Death Benefit |
$131,465 |
|
|
|
∙ |
Historic High Value |
$124,444 |
|
Immediately after the withdrawal, the Minimum Death Benefit of $131,465 is greater than the Historic High Value of $124,444 and the Account Value of $80,000, so the Death Benefit amount would be $131,465.
Death Benefit Amount (Version 2E)
See Appendix C for information about Death Benefit Amount (Version 2E).
Death Benefit Amount (Version 3)
The Death Benefit will be based on the greatest of:
1)the Account Value on the Death Benefit Valuation Date; or
2)the total of all your Purchase Payments, reduced proportionally for partial surrenders; or
3)the Historic High Value.
The reduction for a withdrawal will be the same percentage as the percentage reduction in the Account Value. A withdrawal from the Contract may result in a reduction of the Death Benefit that is greater than the amount of the withdrawal. The Death Benefit Amount will be reduced by any premium tax or other tax that is applicable. It will also be reduced by any outstanding loans.
The Death Benefit Amount will be allocated among the Subaccounts and Fixed Account options. This allocation will occur as of the Death Benefit Valuation Date. It will be made in the same proportion as the value of each option bears to the total account value immediately before that date.
25
Unless transferred by the Beneficiary, the portion of the Death Benefit Amount allocated to the Subaccounts will remain in those Subaccounts until the Death Benefit Commencement Date.
The Death Benefit Amount under this Contract will be finally determined using the Account Value on the Death Benefit Commencement Date. If the Death Benefit Commencement Date is later than the Death Benefit Valuation Date, the Death Benefit amount may be lower than the amount calculated on the Death Benefit Valuation Date.
Historic High Value. The Historic High Value is equal to the lesser of (1) 200% of the total Purchase Payments, reduced proportionally for withdrawals; and (2) the High Value, reduced proportionally for withdrawals taken after the High Value was reached.
High Value. The High Value is the largest Account Value on the fifth or any subsequent Contract anniversary, but before the Death Benefit Valuation Date and prior to Age 65.
∙If the Contract was issued after the Owner's 60th birthday, there is no High Value.
∙If the Death Benefit Valuation Date is before the fifth Contract anniversary, then there is no High Value.
∙If there is no High Value then there is no Historic High Value.
Example of Determination of Death Benefit Amount for Version 3. This example is intended to help you understand how a withdrawal impacts the Death Benefit amount and how the Version 3 Death Benefit amount is calculated.
This example assumes:
∙your total Purchase Payments equal $100,000 and your Account Value is $90,000,
∙the "High Value" is $140,000,
∙you withdraw $10,000 from the Contract, and you are left with an Account Value of $80,000, and
∙the Death Benefit Commencement Date is not after the Death Benefit Valuation Date.
|
Step One: Calculate the proportional reduction in the Purchase Payments. |
|
|
||||||||||
|
|
1 – |
$80,000 |
|
Account Value immediately after withdrawal |
|
|
= 11.1111% |
Percentage |
||||
|
|
$90,000 |
|
Account Value immediately before withdrawal |
Reduction |
||||||||
|
|
|
|
|
|||||||||
|
$100,000 |
Purchase |
x 11.1111% |
Percentage |
= $11,111 |
Proportional |
|
||||||
|
Payments |
Reduction |
Reduction |
|
|||||||||
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|
Step Two: Calculate the reduced Purchase Payment amount. |
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||||||||
|
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Purchase Payments |
|
|
|
|
$100,000 |
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|
|
|||
|
|
Less proportional reduction for withdrawals |
|
|
– 11,111 |
|
|
||||||
|
|
Purchase Payments reduced for withdrawals |
|
|
$88,889 |
|
|
|
|||||
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|
|
|
|
|
|||||||
|
Step Three: Calculate the proportional reduction in the High Value. |
|
|
|
|
||||||||
|
|
1 – |
$80,000 |
|
Account Value immediately after withdrawal |
|
|
= 11.1111% |
Percentage |
||||
|
|
$90,000 |
|
Account Value immediately before withdrawal |
Reduction |
||||||||
|
|
|
|
|
|||||||||
|
$140,000 |
High |
|
X 11.1111% |
Percentage |
= $15,556 |
Proportional |
|
|||||
|
Value |
|
Reduction |
Reduction |
|
||||||||
|
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|
|
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|
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|
|||||
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|
|||||
|
Step Four: Calculate the reduced High Value amount. |
|
|
|
|
|
|
||||||
|
|
High Value |
|
|
|
|
|
|
$140,000 |
|
|
|
|
|
|
Less proportional reduction for withdrawals |
|
|
– 15,556 |
|
|
||||||
|
|
High Value reduced for withdrawals |
|
|
$124,444 |
|
|
|
|||||
Step Five: Calculate the proportional reduction in the 200% Purchase Payment amount.
|
1 – |
$80,000 |
|
Account Value immediately after withdrawal |
|
= 11.1111% |
Percentage |
|||
|
$90,000 |
|
Account Value immediately before withdrawal |
|
Reduction |
|||||
|
|
|
|
|
||||||
|
$200,000 |
200% |
|
x 11.1111% |
Percentage |
= $22,222 |
Proportional |
|
||
|
Purchase |
Reduction |
Reduction |
|
||||||
|
|
|
|
|
|
|||||
Payments
26
|
Step Six: Calculate the reduced 200% Purchase Payment amount. |
|
|
||
|
|
200% Purchase Payments |
$200,000 |
|
|
|
|
Less proportional reduction for withdrawals |
– 22,222 |
|
|
|
|
200% Purchase Payments reduced for withdrawals |
|
$177,778 |
|
|
|
|
|
|
|
|
Step Seven: Determine the Death Benefit amount. |
|
|
||
|
|
Immediately after the withdrawal, the applicable amounts are: |
|
|
|
|
|
∙ Account Value |
$80,000 |
|
|
|
|
∙ reduced Purchase Payments amount |
$88,889 |
|
|
|
|
∙ reduced High Value amount |
$124,444 |
|
|
|
|
∙ reduced 200% Purchase Payments amount |
$177,778 |
|
|
First, determine the Historic High Value by comparing the reduced High Value amount and the reduced 200% Purchase Payment amount. Immediately after the withdrawal, the reduced High Value of $124,444 is less than the reduced 200% Purchase Payments of $177,778. As a result, the Historic High Value is the reduced High Value of $124,444.
Next, compare the Account Value, the reduced Purchase Payment amount, and the Historic High Value amount. Immediately after the withdrawal, the Historic High Value of $124,444 is greater than both the reduced Purchase Payments of $88,889 and the Account Value of $80,000, so the Death Benefit amount would be $124,444.
For all Contracts, an Owner may elect the form of payment of the death benefit at any time before his or her death. The form of payment may be a lump sum, or any available form of settlement option. The standard forms of settlement options are described in the Settlement Options section of this prospectus.
If the Owner does not make an election as to the form of death benefit, the Beneficiary may make an election within one year after the Owner's death. If no election as to the form of settlement option is made, the Company will apply the death benefit to a fixed dollar benefit with monthly payments for a fixed period of four years.
The first day of the Benefit Payment Period in which a death benefit is paid may not be more than one year after the Owner's death. The day a death benefit is paid in a lump sum may not be more than five years after the Owner's date of death.
Death Benefit payments shall be made to the Beneficiary as payee. In lieu of that, after the death of the Owner, a Beneficiary which is a non-natural person may elect to have Death Benefit payments made to a payee to whom the Beneficiary is obligated to make corresponding payments of a death benefit. Any such election by a non-natural person as Beneficiary shall be by Written Request and may be made or changed at any time.
The Beneficiary will be the person on whose life any Death Benefit payments under a settlement option are based. However, if the Beneficiary is a non-natural person, then any payments under a life option will be based on the life of a person to whom the Beneficiary is obligated, who must be designated by the Beneficiary by Written Request before the Death Benefit Commencement Date.
In any event, if the Beneficiary is a non-natural person, any Death Benefit amounts remaining payable on the death of the payee will be paid to any contingent payee designated by the Beneficiary by Written Request, or if none is surviving at the time payment is to be made, then to the Beneficiary.
When a Contract is annuitized, or when a death benefit is applied to a settlement option, the Company promises to pay a stream of benefit payments for the duration of the settlement option selected. Upon annuitization, the Account Value is no longer available to the Owner. Benefit payments may be calculated and paid: (1) as a fixed dollar benefit; (2) as a variable dollar benefit; or (3) as a combination of both. Only the amount of fixed dollar benefit payments is guaranteed by the Company. The Owner (or Payee) bears the risk that any variable dollar benefit payment may be less than the initial variable dollar benefit payment, or that it may decline to zero, if Benefit Unit Values for that payment decrease sufficiently. Transfers between a variable dollar benefit and a fixed dollar benefit are not permitted, but transfers of Benefit Units among Subaccounts are permitted once each 12 months after a variable dollar benefit has been paid for at least 12 months. The formulas for transferring Benefit Units among Subaccounts during the Benefit Payment Period are set forth in the Statement of Additional Information.
Lump Sum Payments of Death Benefits Prior to January 1, 2012. Prior to January 1, 2012, if the beneficiary was an individual and the lump sum payment option was selected, we may have paid the death benefit by establishing an interest-bearing draft account for the
27
beneficiary in the amount of the death benefit. This account was called the Great American Benefit Choice Account. We sent the beneficiary a personalized "checkbook" for this account.
If the beneficiary has not closed this account, then the beneficiary may still withdraw all or part of the money in this account at any time by writing a draft against the account. The servicing bank will process the draft by drawing funds from our general account.
The Great American Benefit Choice Account earns interest, which is compounded daily and credited monthly. We set the interest rate for this account. We review the rate periodically and we may change it at any time. We may make a profit on the money held in this account.
The Great American Benefit Choice Account is part of our general account. It is not a bank account, and it is not insured by the FDIC, NCUSIF, or any government agency. As part of our general account, it is subject to the claims of our creditors.
The Company will make periodic payments in any form of settlement option that is acceptable to it at the time of an election. The standard forms of settlement options are described below. More than one settlement option may be elected if the requirements for each settlement option elected are satisfied.
Payments under any settlement option may be in monthly, quarterly, semiannual or annual payment intervals. If the amount of any regular payment under the form of settlement option elected would be less than $50, an alternative form of settlement option will have to be elected. The Company, in its discretion, may require benefit payments to be made by direct deposit or wire transfer to the account of a designated Payee.
The Company may modify minimum amounts, payment intervals and other terms and conditions at any time without prior notice to Owners. If the Company changes the minimum amounts, the Company may change any current or future payment amounts and/or payment intervals to conform with the change. Once payment begins under a settlement option that is contingent on the life of a specified person or persons, the settlement option may not be changed. Commuted values, if available, may be taken no sooner than five years after the applicable Commencement Date. Commuted values are not available for any option based on life expectancy.
The dollar amount of benefit payments will vary with the frequency of the payment interval and the duration of the payments. Generally, each payment in a stream of payments will be smaller as the frequency of payments increases, or as the length of the payment period increases, because more payments will be paid. For life contingent settlement options, each payment in the stream of payments will generally be smaller as the life expectancy of the Annuitant or Beneficiary increases because more payments are expected to be paid.
For life contingent settlement options, the death of the Annuitant may result in only a single payment being made. For fixed period settlement options, the periodic payments will continue for the entire fixed period even if the Annuitant dies during the payment period.
|
Option |
Description |
|
Income for a Fixed Period |
The Company will make periodic payments for a fixed period of 5 to 30 years. |
|
|
(Payment intervals of 1 to 4 years are available for death benefit settlement options |
|
|
only.) |
|
Life Annuity with Payments for a Fixed Period |
The Company will make periodic payments for a fixed period, or until the death of |
|
|
the person on whose life benefit payments are based if he or she lives longer than |
|
|
the fixed period. |
|
Joint and One-Half Survivor Annuity |
The Company will make periodic payments until the death of the primary person on |
|
|
whose life benefit payments are based; thereafter, the Company will make one-half |
|
|
of the periodic payment until the death of the secondary person on whose life |
|
|
benefit payments are based. |
|
Life Annuity |
The Company will make periodic payments until the death of the person on whose |
|
|
life the benefit payments are based. |
For Contracts issued after May 1, 2004, in states where the Company has received regulatory approval, the Company generally guarantees minimum benefit payment factors based on annuity 2000 mortality tables for blended lives (60% female/40% male) with interest at 1% per year, compounded annually.
For all other Contracts, the Company guarantees minimum fixed dollar benefit payment factors based on 1983 annuity mortality tables for individuals or groups, as applicable, with interest at 3% per year, compounded annually.
The minimum monthly payments per $1,000 of value for the Company's standard settlement options are set forth in tables in the Contracts. Upon request, the Company will provide information about minimum monthly payments for ages or fixed periods not shown in the settlement option tables.
28
FORMS OF BENEFIT PAYMENTS UNDER SETTLEMENT OPTIONS
Fixed Dollar Payments. Fixed dollar benefit payments are determined by multiplying the amount applied to the fixed dollar benefit (expressed in thousands of dollars and after deduction of any fees and charges, loans, or applicable premium taxes) by the amount of the payment per $1,000 of value that the Company is currently paying for settlement options of that type. The amount of the payment per $1,000 of value will never be less than the guaranteed minimum amount. Fixed dollar benefit payments will remain level for the duration of the Benefit Payment Period.
Variable Dollar Payments. The variable dollar base benefit payment is the amount it would be if it were a fixed dollar benefit payment calculated at the Company's minimum guaranteed settlement option factors.
The amount of each variable dollar benefit payment will reflect the investment performance of the Subaccount(s) selected and may vary from payment to payment. For example, because the base benefit payment includes a fixed rate of interest, benefit payments will be less than the base payment if the net investment performance of the applicable Subaccount(s) is less than the fixed rate of interest. Benefit payments will be more than the base payment if the net investment performance of the applicable Subaccount(s) is more than the fixed rate of interest.
The amount of each benefit payment is the sum of the payment due for each Subaccount selected, less a pro rata portion of the contract maintenance fee, as described below. The payment due for a Subaccount equals the shares for that Subaccount, which are the Benefit Units, times their value, which is generally the Benefit Unit Value for that Subaccount as of the end of the fifth Valuation Period preceding the due date of the payment.
The deduction for the contract maintenance fee is equal to the amount of the annual fee divided by the number of benefit payments to be made over a 12-month period.
The number of Benefit Units for each Subaccount selected is determined by allocating the amount of the variable dollar base benefit payment among the Subaccount(s) selected in the percentages indicated by the Owner (or payee). The dollar amount allocated to a Subaccount is divided by the Benefit Unit Value for that Subaccount as of the first day of the Benefit Payment Period. The result is the number of Benefit Units that the Company will pay for that Subaccount at each payment interval. The number of Benefit Units for each Subaccount remains fixed during the Benefit Payment Period, except as a result of any transfers among Subaccounts or as provided under the settlement option elected. An explanation of how Benefit Unit Values are calculated is included in the Statement of Additional Information.
Considerations in Selecting a Settlement Option and Payment Forms. Periodic payments under a settlement option are affected by various factors, including the length of the payment period, the life expectancy of the person on whose life benefit payments are based, the frequency of the payment interval (monthly, quarterly, semi-annual or annual), and the payment form selected (fixed dollar or variable dollar).
∙Generally, the longer the period over which payments are made or the more frequently the payments are made, the smaller the amount of each payment because more payments will be made.
∙For life contingent settlement options, the longer the life expectancy of the Annuitant or Beneficiary, the smaller the amount of each payment because more payments are expected to be paid.
∙Fixed dollar payments will remain level for the duration of the payment period.
∙The actual amount of each variable dollar payment may vary from payment to payment regardless of the duration of the payment period. The actual amount of each variable dollar payment will reflect the investment performance of the Subaccount(s) selected. The daily investment factor and the assumed interest rate also affect the amount by which variable dollar payments increase or decrease.
Additional information about the net investment factor and the assumed interest rate is included in the Statement of Additional Information.
Each Contract is an agreement between the Company and the Owner. Values, benefits and charges are calculated separately for each Contract. In the case of a group Contract, the agreement is between the group Owner and the Company. An individual participant under a group Contract will receive a certificate of participation, which is evidence of the participant's interest in the group Contract. A certificate of participation is not a Contract. Values, benefits and charges are calculated separately for each certificate issued under a Contract. The description of Contract provisions in this prospectus applies to the interests of certificate Owners, except where otherwise noted.
Because the Company is subject to the insurance laws and regulations of all the jurisdictions where it is licensed to operate, the availability of certain Contract rights and provisions in a given state may depend on that state's approval of the Contracts. Where required by state law or regulation, the Contracts will be modified accordingly. To obtain an explanation of the state modifications that apply to your Contract or certificate, contact us at P.O. Box 5423, Cincinnati, OH 45201-5423, or call us at 1-800-789-6771.
29
Right to Cancel. The Owner of an individual Contract may cancel it before midnight of the 20th day following the date the Owner receives the Contract. For a valid cancellation, the Contract must be returned to the Company, and written notice of cancellation must be given to the Company, or to the agent who sold the Contract, by that deadline. If mailed, the return of the Contract or the notice is effective on the date it is postmarked, with the proper address and with postage paid. If the Owner cancels the Contract, the Contract will be void and the Company will refund the Purchase Payment(s) paid for it, plus or minus any investment gains or losses under the Contract as of the end of the Valuation Period during which the returned Contract is received at the Company's administrative office. When required by state or federal law, the Company will return the Purchase Payments without any investment gain or loss, during all or part of the right to cancel period. When required by state or federal law, the Company will return the Purchase Payments in full, without deducting any fees or charges, during the right to cancel period. When required by state law, the right to cancel period may be longer than 20 days. When required by state law, the right to cancel may apply to group Contracts. During the right to cancel period specified on the first page of the Contract, the Company reserves the right to allocate all Purchase Payments to either the Fixed Accumulation Account or a money market Subaccount, at our discretion. If we exercise this right, we will allocate the Account Value as of the end of the right to cancel period to the Fixed Account options and/or to the Subaccounts in the percentages that the Owner instructed.
Termination. The Company reserves the right to terminate any Contract at any time during the Accumulation Period if the Surrender Value is less than $500. In that case, the Contract will be involuntarily surrendered, and the Company will pay the Owner the amount that would be due the Owner on a full surrender. A group Contract may be terminated on 60 days advance notice, in which case participants will be entitled to continue their interests on a deferred, paid-up basis, subject to the Company's involuntary surrender right as described above.
Persons with Rights under a Contract
Owner. The Owner is the person with authority to exercise rights and receive benefits under the Contract (e.g., make allocations among investment options, elect a settlement option, designate the Annuitant, Beneficiary and Payee). An Owner must ordinarily be a natural person, or a trust or other legal entity holding a contract for the benefit of a natural person. Ownership of a non-tax-qualified Contract may be transferred, but transfer may have adverse tax consequences. Ownership of a tax-qualified Contract may not be transferred. Unless otherwise elected or required by law, a transfer of Ownership will not automatically cancel a designation of an Annuitant or Beneficiary or any settlement options election previously made.
Joint Owners. There may be joint Owners of a non-tax-qualified Contract. Joint Owners may each exercise transfer rights and make Purchase Payment allocations independently. All other rights must be exercised by joint action. A surviving joint Owner who is not the spouse (or civil union partner/domestic partner in applicable states) of a deceased Owner may not become a Successor Owner but will be deemed to be the Beneficiary of the death benefit that becomes payable on the death of the first Owner to die, regardless of any Beneficiary designation.
Successor Owner. The surviving spouse (or civil union partner/domestic partner in applicable states) of a deceased Owner may become a Successor Owner if the surviving spouse (or civil union partner/domestic partner in applicable states) was either the joint Owner or sole surviving Beneficiary under the Contract. In order for a spouse (or civil union partner/domestic partner in applicable states) to become a Successor Owner, the Owner must make an election prior to the Owner's death, or the surviving spouse (or civil union partner/domestic partner in applicable states) must make an election within one year of the Owner's death.
Prior to May 1, 2004, the Successor Owner provisions of the Contract were available only by endorsement and may not have been available in all states.
As required by federal tax law, the Contract contains rules about the rate at which a death benefit must be paid to a beneficiary who is not your spouse. If the Successor Owner is not your spouse as defined by federal tax law, then after your death the contract values must be distributed in a manner that complies with those rules. For this purpose, a civil union partner/domestic partner is not considered a spouse.
Civil Union Partners, and Domestic Partners. Federal tax law does not recognize a civil union or domestic partnership as a marriage. Although a civil union partner/domestic partner may become a successor owner in applicable states, the favorable tax treatment provided by deferral tax law to a surviving spouse in NOT available to a surviving civil union partner/domestic partner. For information about federal tax laws, please consult a tax advisor.
Step Up in Account Value for Successor Owner. If the surviving spouse (or civil union partner/domestic partner in applicable states) of a deceased Owner becomes a Successor Owner of the Contract, the Account Value may be increased. There is no additional charge associated with this feature. Any such increase will be equal to the amount, if any, that the Account Value would have been increased on the Death Benefit Valuation Date if your spouse (or civil union partner/domestic partner) had elected to take the Death Benefit. An increase will only apply if the Death Benefit would have been based on a return of premium value, a historic value, or any other Death Benefit calculation value that is greater than the Account Value.
For this purpose, the Death Benefit Valuation Date is the earlier of: (1) the date that we have received at our administrative office both Due Proof of Death and a Written Request to become successor owner of the Contract; or (2) the first anniversary of death. Any such increase shall be effective on the Death Benefit Valuation Date, and shall be allocated proportionally among the Subaccounts and the Fixed Account options based on the value of each such option as of the end of the Valuation Period immediately before that date.
30
Annuitant. The Annuitant is the person whose life is the measuring life for life contingent annuity benefit payments. The Annuitant must be the same person as the Owner under a tax-qualified Contract. The Owner may designate or change an Annuitant under a non-tax- qualified Contract. Unless otherwise elected or required by law, a change of Annuitant will not automatically cancel a designation of a Beneficiary or any settlement option election previously made.
Beneficiary. The person entitled to receive the death benefit. The Owner may designate or change the Beneficiary, except that a surviving joint Owner will be deemed to be the Beneficiary regardless of any designation. Unless otherwise elected or required by law, a change of Beneficiary will not automatically cancel a designation of any Annuitant or any settlement option election previously made. If no Beneficiary is designated, and there is no surviving joint Owner, the Owner's estate will be the Beneficiary. The Beneficiary will be the measuring life for life contingent death benefit payments.
Payee. Under a tax-qualified Contract, the Owner-Annuitant is the Payee of annuity benefits. Under a non-tax-qualified Contract, the Owner may designate the Annuitant or the Owner as the Payee of annuity benefits. Irrevocable naming of a Payee other than the Owner can have adverse tax consequences. The Beneficiary is the Payee of the death benefit.
Assignee. Under a tax-qualified Contract, assignment is not permitted. The Owner of a non-tax-qualified Contract may assign most of his/her rights or benefits under a Contract. Assignment of rights or benefits may have adverse tax consequences.
ABANDONED PROPERTY AND ESCHEATMENT
Every state has unclaimed property laws. These laws generally declare annuity contracts to be abandoned after a period of inactivity of three to five years (1) from the first day of the period during which annuity benefit payments are to be paid; or (2) from the date of death for which a death benefit is due and payable. For example, if the payment of a death benefit has been triggered, but the Beneficiary does not come forward to claim the death benefit in a timely manner, the unclaimed property laws will apply.
If a death benefit, annuity benefit payments, or other Contract proceeds are unclaimed, we will pay them to the abandoned property division or unclaimed property office of the applicable state. (Escheatment is the formal, legal name for this process.) For example, on an unclaimed death benefit, depending on the circumstances, the proceeds are paid (1) to the state where the Beneficiary last resided, as shown on our books and records; (2) to the state where the Owner last resided, as shown on our books and records; or (3) to Ohio, which is our state of domicile. The state will hold the proceeds without interest until a valid claim is made by the person entitled to the proceeds.
If the Contract owner dies and we are unable to locate the beneficiary, or if the Contract requires annuity benefit payments to start and we cannot locate the owner, the Account Value of the Contract will remain in the Subaccount and Fixed Account options until the death benefits or Contract proceeds are claimed or escheated. If escheated, the death benefit amount or Contract proceeds will be finally determined using the Account Value at the end of the Valuation Period that is no more than seven days before date that we make the escheat payment to the state.
To prevent escheatment of the death benefit, annuity benefit payments or other proceeds from your annuity, it is important:
∙to update your contact information, such as your address, phone number and email address, if and as it changes; and
∙to update your Beneficiary and other designations, including complete names, complete addresses, phone numbers, and social security numbers, if and as they change.
Please contact us at P.O. Box 5423, Cincinnati, OH 45201-5423, or call us at 1-800-789-6771, to make such changes.
State unclaimed property laws do not apply to annuity contracts that are held under an employer retirement plan that is subject to the Employee Retirement Income Security Act of 1974 (ERISA).
ANNUITY INVESTORS LIFE INSURANCE COMPANY®
The Company is a stock life insurance company incorporated under the laws of the State of Ohio in 1981. The Company is principally engaged in the sale of variable and fixed annuity contracts. The administrative office of the Company is located at 301 East Fourth Street, Cincinnati, Ohio 45202. The Company is an indirect wholly owned subsidiary of American Financial Group, Inc., a publicly traded holding company (NYSE: AFG).
The obligations under the Contracts are obligations of the Company. The fixed benefits under this Contract are provided through the Fixed Account. The Fixed Account is part of our general account and its values are not dependent on the investment performance of the Subaccounts that make up the Separate Account. The variable benefits under this Contract are provided through the Separate Account, which is described below.
The Company's general account assets are used to guarantee the payment of applicable annuity and death benefits under the Contracts. As a result, Contract owners must rely on the financial strength of the Company for any benefit payments under the Contract. To the extent that we are required to pay benefit amounts in excess of the applicable Contract values, such amounts will come from the Company's general account assets. You should be aware that the Company's general account is exposed to the risks normally associated with a portfolio of fixed-income securities, including interest rate risk, liquidity risk and credit risk. The Company's financial
31
statements in the Statement of Additional Information include a further discussion of investments held by the Company's general account. In addition, the Company's general account is subject to the claims of its creditors.
The Company and Great American Advisors®, Inc., the principal underwriter of the Contracts, are involved in various kinds of routine litigation that, in management's judgment, are not of material importance to their assets or the Separate Account. There are no pending legal proceedings against the Separate Account.
General. The Separate Account was established by the Company on December 19, 1996, as an insurance company separate account under the laws of the State of Ohio pursuant to resolution of the Company's Board of Directors. The Separate Account is registered with the SEC as a unit investment trust. It is divided into Subaccounts that invest in corresponding Portfolios. Interests in the Subaccounts are securities registered with the SEC. However, the SEC does not supervise the management or the investment practices or policies of the Separate Account.
The assets of the Separate Account are owned by the Company, but they are held separately from the other assets of the Company. Under Ohio law, the assets of a separate account are not chargeable with liabilities incurred in any other business operation of the Company. Income, gains and losses incurred on the assets in the Separate Account, whether realized or not, are credited to or charged against the Separate Account, without regard to other income, gains or losses of the Company.
Therefore, the performance of the Separate Account is entirely independent of the investment performance of the Company's general account assets or any other separate account maintained by the Company. The assets of the Separate Account will be held for the exclusive benefit of Owners of, and the persons entitled to payment under, the Contracts offered by this prospectus and all other contracts issued by the Separate Account. The obligations under the Contracts are obligations of the Company.
Additions, Deletions or Substitutions of Subaccounts. New Subaccounts may be established when, in our sole discretion, marketing, tax, investment or other conditions warrant. Any new Subaccounts will be made available to existing Owners on a basis to be determined by us and that is not discriminatory. We do not guarantee that any of the Subaccounts or any of the Portfolios will always be available for allocation of Purchase Payments or variable dollar benefit payments or for transfers. We may substitute the shares of a different portfolio or a different class of shares for shares held in a Portfolio.
In the event of any addition, merger, combination or substitution, we may make such changes in the Contract as may be necessary or appropriate to reflect such event. Additions, mergers, combinations or substitutions may be due to an investment decision by us, or due to an event not within our control, such as liquidation of a Portfolio or an irreconcilable conflict of interest between the Separate Account and another insurance company that offers the Portfolio. We will obtain approval of additions, mergers, combinations or substitution from the SEC to the extent required by the Investment Company Act of 1940, or other applicable law. We will also notify you before we make a substitution.
To the extent required by law, shares of a Portfolio held in the Separate Account will be voted by the Company at regular and special shareholder meetings of that Portfolio in accordance with instructions received from persons having voting interests in the corresponding Subaccount. During the Accumulation Period, the Company will vote Portfolio shares according to instructions of Owners, unless the Company is permitted to vote shares in its own right.
The number of votes that an Owner may vote will be calculated separately for each Subaccount. The number will be determined by applying the Owner's percentage interest, if any, in a particular Subaccount to the total number of votes attributable to that Subaccount.
The Owner's percentage interest and the total number of votes will be determined as of the record date established by that Portfolio for voting purposes. Voting instructions will be solicited by written communication in accordance with procedures established by the applicable Portfolio.
The Company will vote or abstain from voting shares for which it receives no timely instructions and shares it holds as to which Owners have no beneficial interest (including shares held by the Company as reserves for benefit payments*). The Company will vote or abstain from voting such shares in proportion to the voting instructions it receives from Owners of all Contracts participating in the Subaccount. Because the Company will use this proportional method of voting, a small number of Owners may determine the manner in which the Company will vote Portfolio shares for which it solicits voting instructions but receives no timely instructions.
Each person or entity having a voting interest in a Subaccount will receive proxy material, reports and other material relating to the appropriate Portfolio. The Portfolios are not required to hold annual or other regular meetings of shareholders.
*Neither the Owner nor Payee has any interest in the Separate Account during the Benefit Payment Period. Benefit Units are merely a measure of the amount of the payment the Company is obligated to pay on each payment date.
32
DISTRIBUTION OF VARIABLE ANNUITY CONTRACTS
Great American Advisors®, Inc. ("GAA") is the principal underwriter of the variable annuity products that we issue (the "AILIC Contracts"). Its business address is 301 East Fourth Street, Cincinnati, Ohio 45202. GAA is an indirect wholly owned subsidiary of American Financial Group, Inc. and, as a result, is an affiliate of the Company.
The Contracts are sold by insurance agents who are also registered representatives of broker-dealers that have entered into selling agreements with GAA. Broker-dealers are registered under the Securities Exchange Act of 1934 and are members of the Financial Industry Regulatory Authority. All registered representatives who sell the Contracts are appointed by the Company as insurance agents and are authorized under applicable state insurance regulations to sell variable annuity contracts.
The Company pays commissions to GAA for promotion and sale of the contracts. GAA pays commissions to other broker-dealers for sales made through their registered representatives, and these broker-dealers pay their registered representatives from their own funds. Commissions paid by the Company are calculated as a percentage of the Purchase Payments received for a contract. The maximum percentage is 8.5% of the Purchase Payments received from a contract. Commissions paid by the Company may also be calculated as a percentage of the contract value (sometimes called a trail commission). Trail commissions are not expected to exceed 1% of the contract value on an annual basis.
Commissions paid on the Contracts and payments for other services are not charged directly to you or your Account Value but are charged indirectly through fees and charges imposed under the Contracts. If these fees and charges are not sufficient to cover the commissions and other payments, any deficiency will be made up from our general assets.
The Statement of Additional Information includes more information about the compensation we pay to GAA and the additional compensation that GAA pays to select selling firms.
This section provides a general description of federal income tax considerations relating to the Contracts. The purchase, holding, and transfer of a Contract may have federal estate and gift tax consequences in addition to income tax consequences. Estate and gift taxation is not discussed in this prospectus or in the Statement of Additional Information. State taxation will vary, depending on the state in which you reside, and is not discussed in this prospectus or in the Statement of Additional Information.
The tax information provided in this prospectus is not intended or written to be used as legal or tax advice. It is written solely to provide general information related to the purchase and holding of the Contracts. You should seek advice on legal or tax questions based on your particular circumstances from an attorney or tax advisor who is not affiliated with the Company.
Internal Revenue Code ("IRC") Section 72 governs the taxation of annuities in general. The income earned on a Contract is generally not included in the Owner's taxable income until it is withdrawn from the Contract. In other words, a Contract is a tax-deferred investment. In order to qualify for this tax-deferred treatment, the Contracts must meet certain requirements related to investor control and diversification discussed in the Statement of Additional Information. Tax deferral is not available for a Contract when an Owner is a trust, corporation, LLC, partnership, or other entity unless the Contract is part of a tax-qualified retirement plan or the Owner is a mere agent for a natural person. For a nonqualified deferred compensation plan, this rule means that the employer as Owner of the Contract will generally be taxed currently on any increase in the Surrender Value, although the plan itself may provide a tax deferral to the participating employee.
Tax-Qualified Retirement Plans
Annuities may also qualify for tax-deferred treatment, or serve as a funding vehicle, under tax-qualified retirement plans that are governed by other IRC provisions. These provisions include IRC Section 401 (pension, profit sharing, and 401(k) plans), IRC Section 403(b) (tax-sheltered annuities), IRC Sections 408 and 408A (individual retirement annuities), and IRC Section 457(b) (governmental deferred compensation plans). Tax-deferral is generally also available under these tax-qualified retirement plans through the use of a trust or custodial account without the use of an annuity.
The tax law rules governing tax-qualified retirement plans and the treatment of amounts held and distributed under such plans are complex. If the Contract is to be used in connection with a tax-qualified retirement plan, including an individual retirement annuity ("IRA") under a Simplified Employee Pension (SEP) Plan, you should seek competent legal and tax advice regarding the suitability of the Contract for your particular situation. Following is a brief description of the types of tax-qualified retirement plans for which the Contracts are available.
Contributions to a tax-qualified Contract are typically made with pre-tax dollars, while contributions to other Contracts are typically made with after-tax dollars, though there are exceptions in either case. Tax-qualified Contracts may also be subject to restrictions on withdrawals that do not apply to other Contracts. These restrictions may be imposed to meet the requirements of the IRC or of an employer plan.
33
Individual Retirement Annuities. IRC Sections 219 and 408 permit certain individuals or their employers to contribute to an individual retirement arrangement known as an "Individual Retirement Annuity" or "IRA". Under applicable limitations, an individual may claim a tax deduction for certain contributions to an IRA. Contributions made to an IRA for an employee under a Simplified Employee Pension (SEP) Plan or Savings Incentive Match Plan for Employees (SIMPLE) established by an employer are not includable in the gross income of the employee until distributed from the IRA. Distributions from an IRA are taxable to the extent that they represent contributions for which a tax deduction was claimed, contributions made under a SEP plan or SIMPLE, or income earned within the IRA.
Roth IRAs. IRC Section 408A permits certain individuals to contribute to a Roth IRA. Contributions to a Roth IRA are not tax deductible. Tax-free distributions of contributions may be made at any time. Distributions of earnings are tax-free following the five-year period beginning with the first year for which a Roth IRA contribution was made if the Owner has attained age 59½, become disabled, or died, or for qualified first-time homebuyer expenses.
Tax-Sheltered Annuities. IRC Section 403(b) permits public schools and charitable, religious, educational, and scientific organizations described in IRC Section 501(c)(3) to establish "tax-sheltered annuity" or "TSA" plans for their employees. TSA contributions and Contract earnings are generally not included in the gross income of the employee until distributed from the TSA. Amounts attributable to contributions made under a salary reduction agreement cannot be distributed until the employee attains age 59½, severs employment, becomes disabled, incurs a hardship, is eligible for a qualified reservist distribution, or dies. The IRC and the plan may impose additional restrictions on distributions.
Pension, Profit–Sharing, and 401(k) Plans. IRC Section 401 permits employers to establish various types of retirement plans for employees and permits self-employed individuals to establish such plans for themselves and their employees. These plans may use annuity contracts to fund plan benefits. Generally, contributions are deductible to the employer in the year made, and contributions and earnings are generally not included in the gross income of the employee until distributed from the plan. The IRC and the plan may impose restrictions on distributions. Purchasers of a Contract for use with such plans should seek competent advice regarding the suitability of the Contract under the particular plan.
Governmental Eligible Deferred Compensation Plans. State and local government employers may purchase annuity contracts to fund eligible deferred compensation plans for their employees, as described in IRC Section 457(b). Contributions and earnings are generally not included in the gross income of the employee until the employee receives distributions from the plan. Amounts cannot be distributed until the employee attains age 70½, severs employment, becomes disabled, incurs an unforeseeable emergency, or dies. The plan may impose additional restrictions on distributions.
Roth TSAs, Roth 401(k)s, and Roth 457(b)s. IRC Section 402A permits TSA plans, 401(k) plans, and governmental 457(b) plans to allow participating employees to designate some part or all of their future elective contributions as Roth contributions. Roth contributions to a TSA plan, 401(k) plan, or governmental 457(b) plan are included in the employee's taxable income as earned. Amounts attributable to Roth TSA, Roth 401(k), or Roth 457(b) contributions must be held in a separate account from amounts attributable to traditional pre- tax TSA, 401(k), or 457(b) contributions. Distributions from a Roth TSA, Roth 401(k), or Roth 457(b) account are considered to come proportionally from contributions and earnings. Distributions attributable to Roth account contributions are tax-free. Distributions attributable to Roth account earnings are tax-free following the five-year period beginning with the first year for which Roth contributions are made to the plan if the employee has attained age 59½, become disabled, or died. A Roth TSA, Roth 401(k), or Roth 457(b) account is subject to the same distribution restrictions that apply to amounts attributable to traditional pre-tax TSA, 401(k), or 457(b) contributions made under a salary reduction agreement. The plan may impose additional restrictions on distributions.
Nonqualified Deferred Compensation Plans
Employers may invest in annuity contracts in connection with unfunded deferred compensation plans for their employees. Such plans may include eligible deferred compensation plans of non-governmental tax-exempt employers, as described in IRC Section 457(b); deferred compensation plans of both governmental and nongovernmental tax-exempt employers that are taxed under IRC Section 457(f) and subject to Section 409A; and nonqualified deferred compensation plans of for-profit employers subject to Section 409A. In most cases, these plans are designed so that amounts credited under the plan will not be includable in the employees' gross income until paid under the plan. In these situations, the Contracts are not plan assets and are subject to the claims of the employer's general creditors. Whether or not made from the Contract, plan benefit payments are subject to restrictions imposed by the IRC and the plan.
The following chart summarizes the basic income tax rules governing tax-qualified retirement plans, nonqualified deferred compensation plans, and other non-tax-qualified Contracts.
34
|
|
|
|
Nonqualified |
|
|
|
Tax-Qualified Contracts and Plans |
|
Deferred Compensation Plans |
Other Non-Tax-Qualified Contracts |
|
Plan Types |
IRC §408 (IRA, SEP, SIMPLE IRA) |
|
IRC §409A |
IRC §72 only |
|
|
IRC §408A (Roth IRA) |
|
Nongovernmental IRC §457(b) |
|
|
|
IRC §403(b) (Tax Sheltered Annuity) |
|
IRC §457(f) |
|
|
|
IRC §401 (Pension, Profit–Sharing, |
|
|
|
|
|
401(k)) |
|
|
|
|
|
Governmental IRC §457(b) |
|
|
|
|
|
IRC §402A (Roth TSA, Roth 401(k), or |
|
|
|
|
|
Roth 457(b)) |
|
|
|
|
Who May |
Eligible employee, employer, or employer |
Employer on behalf of eligible employee. |
Anyone. Non-natural person will generally |
|
|
Purchase a |
plan. |
Employer generally loses tax-deferred |
lose tax-deferred status. |
|
|
Contract |
|
status of Contract itself. |
|
|
|
Contribution |
Contributions are limited by the IRC and/or plan requirements |
None |
||
|
Limits |
|
|
|
|
|
Distribution |
Distributions from Contract and/or plan may be restricted to meet IRC and/or plan |
None. |
||
|
Restrictions |
requirements. |
|
|
|
|
Taxation of |
Generally, 100% of distributions must be included in taxable income. However, the |
Generally, distributions must be included in |
||
|
Withdrawals, |
portion that represents any after-tax investment is not taxable. Distributions from Roth |
taxable income until all accumulated |
||
|
Surrenders, |
IRA are deemed to come first from after-tax contributions. Distributions from other |
earnings are paid out. Thereafter, |
||
|
and Lump Sum |
plans are generally deemed to come from taxable income and after-tax investment (if |
distributions are tax-free return of the original |
||
|
Death Benefit |
any) on a pro-rata basis. Distributions from §408A Roth IRA or §402A Roth TSA, Roth |
investment. |
||
|
|
401(k), or Roth 457(b) are completely tax free if certain requirements are met. |
|
||
|
|
|
|
|
However, distributions are tax-free until any |
|
|
For tax purposes, all IRAs and SEP IRAs of an owner are treated as a single IRA, and |
investment made before August 14, 1982 is |
||
|
|
all Roth IRAs of an owner are treated as a single Roth IRA. |
returned. |
||
|
|
|
|
|
For tax purposes, all non-tax-qualified |
|
|
|
|
|
annuity contracts issued to the same owner |
|
|
|
|
|
by the same insurer in the same calendar |
|
|
|
|
|
year are treated as one contract. |
|
Taxation of |
For fixed dollar benefit payments, a percentage of each payment is tax free equal to the |
ratio of after-tax investment (if any) to the total |
||
|
Annuitization |
expected payments, and the balance is included in taxable income. For variable dollar benefit payments, a specific dollar amount of |
|||
|
Payments |
each payment is tax free, as predetermined by a pro rata formula, rather than a percentage of each payment. In either case, once the |
|||
|
(annuity benefit |
after-tax investment has been recovered, the full amount of each benefit payment is included in taxable income. Distributions from a |
|||
|
or death |
Roth IRA, Roth TSA, Roth 401(k), or Roth 457(b) are completely tax free if certain requirements are met. |
|||
|
benefit) |
|
|
|
|
|
Possible |
Taxable portion of payments made before |
None. |
Taxable portion of payments made before |
|
|
Penalty Taxes |
age 59½ may be subject to 10% penalty |
|
|
age 59½ may be subject to a 10% penalty |
|
for |
tax (or 25% for a SIMPLE IRA during the |
|
|
tax. Penalty taxes do not apply to payments |
|
Distributions |
first two years of participation). Penalty |
|
|
after the Owner's death. Other exceptions |
|
Before Age |
taxes do not apply to payments after the |
|
|
may apply. |
|
59½ |
participant's death, or to §457 plans. |
|
|
|
|
|
Other exceptions may apply. |
|
|
|
|
Assignment/ |
Assignment and transfer of Ownership generally not permitted. |
Generally, deferred earnings taxable to |
||
|
Transfer of |
|
|
|
transferor upon transfer or assignment. Gift |
|
Contract |
|
|
|
tax consequences are not discussed herein. |
|
Federal Income |
Eligible rollover distributions from §401, |
Generally subject to wage withholding. |
Generally, Payee may elect to have taxes |
|
|
Tax |
§403(b), and governmental §457(b) plans |
|
|
withheld or not. |
|
Withholding |
are subject to 20% mandatory withholding |
|
|
|
|
|
on taxable portion unless direct rollover. |
|
|
|
|
|
For other payments, Payee may generally |
|
|
|
|
|
elect to have taxes withheld or not. |
|
|
|
Rollovers, Transfers, and Exchanges
Amounts from a tax-qualified Contract may be rolled over, transferred, or exchanged into another tax-qualified account or retirement plan as permitted by the IRC and plan(s). Amounts may be rolled over, transferred, or exchanged into a tax-qualified Contract from another tax-qualified account or retirement plan as permitted by the IRC and plan(s). In most cases, such a rollover, transfer, or exchange is not taxable,
35
unless the rollover of pre-tax amounts is made into a Roth IRA, a Roth TSA, Roth 401(k), or Roth 457(b). Rollovers, transfers, and exchanges are not subject to normal contribution limits. The IRC or plan may require that rollovers be held in a separate Contract from other plan funds.
Amounts from a non-tax-qualified Contract may be transferred to another non-tax-qualified annuity or to a qualified long-term care policy as a tax-free exchange under IRC Section 1035. Amounts from another non-tax-qualified annuity or from a life insurance or endowment policy may be transferred to a non-tax-qualified Contract as a tax-free exchange under IRC Section 1035.
The Contracts are subject to the required distribution rules of federal tax law. These rules vary based on the tax qualification of the Contract or the plan under which it is issued. All required minimum distributions due in 2020 from an IRA, a 403(b) Tax-Sheltered Annuity Plan, a 401 defined contribution plan, or a 457(b) Governmental Deferred Compensation Plan have been waived.
During the life of the Owner or plan participant:
∙For a tax-qualified Contract other than a Roth IRA, required minimum distributions must generally start by April 1 following the year that the IRA owner or plan participant reaches age 72 (or age 70 1/2 if born on or before June 30, 1949). However, a participant in a TSA, a pension, profit-Sharing, or 401(k) plan, or a governmental 457(b) plan may delay the start of required minimum distributions from the plan until April 1 following the year that the plan participant retires from the employer as long as he or she is not a 5% owner of the employer.
∙For a Roth IRA , there are no required distributions during the owner's life.
∙For a nonqualified deferred compensation plan, required distributions are determined by the terms of the plan and the deferral elections of the plan participant.
∙For a Contract that is not tax-qualified, there are no required distributions during the Owner's life.
After the death of the Owner or plan participant:
∙For a tax-qualified Contract, required minimum distributions vary depending on the type of beneficiary. Some beneficiaries may take payments over life or life expectancy, and others must receive all benefits within five or ten years after death.
∙For a nonqualified deferred compensation plan, required distributions are determined by the terms of the plan and the deferral elections of the plan participant.
∙For a Contract that is not tax-qualified, if payments have begun under a settlement option, then after death any remaining payments must be made at least as rapidly as those made or required before death. Otherwise, the death benefit must be paid out in full within five years of death or must be paid out in substantially equal payments over the life or life expectancy of the designated beneficiary.
∙For a traditional IRA, a Roth IRA, or a Contract that is not tax-qualified, a beneficiary who is a surviving spouse as defined by federal tax law may elect out of these requirements and apply the required distribution rules as if the Contract were his or her own.
Life expectancies for required distributions are calculated based on standard life expectancy tables adopted under federal tax law.
DELIVERY OF DOCUMENTS TO CONTRACT OWNERS
Reports and Confirmations. At least once each contract year, we will mail reports of the Contract's Account Value and any other information required by law to you. We will not send these reports after the Commencement Date or a full surrender of the Contract, whichever is first.
We will confirm receipt of any Purchase Payments made after the initial Purchase Payment in quarterly statements of account activity.
Householding — Revocation of Consent. Owners at a shared address who have consented to receive only one copy of each prospectus, annual report, or other required document per household ("householding") may revoke their consent at any time, and may receive separate documents, by contacting the Company at 1-800-789-6771 or www.gaig.com.
Owners who are currently receiving multiple copies of required documents may contact the Company at 1-800-789-6771 or www.gaig.com for additional information about householding.
Electronic Delivery of Required Documents. Owners who wish to receive prospectuses, SAIs, annual reports, and other required documents only in electronic form must give their consent. Consent may be revoked at any time. Please contact the Company at 1-800- 789-6771 or visit our website at www.gaig.com for additional information about electronic delivery of documents.
The Company filed a Registration Statement with the SEC under the Securities Act of 1933 relating to the Contracts offered by this prospectus. This prospectus was filed as a part of the Registration Statement, but it does not constitute the complete Registration Statement. The Registration Statement contains further information relating to the Company and the Contracts. Statements in this
36
prospectus discussing the content of the Contracts and other legal instruments are summaries. The actual documents are filed as exhibits to the Registration Statement. For a complete statement of the terms of the Contracts or any other legal document, refer to the appropriate exhibit to the Registration Statement. The Registration Statement and the exhibits thereto may be accessed at the SEC's web site http://www.sec.gov. The SEC file number for the Contract is 333-19725.
37
STATEMENT OF ADDITIONAL INFORMATION
A Statement of Additional Information containing more details concerning the subjects discussed in this prospectus is available. The following is the table of contents for the Statement of Additional Information:
|
Annuity Investors Life Insurance Company |
Distribution of the Contracts |
|
General Information and History |
Underwriting Commissions Paid to GAA |
|
State Regulations |
GAA Expenses Paid by the Company |
|
Portfolios |
Arrangements with Selected Selling Firms |
|
General Information |
Payments from the Portfolios and/or Their Service Providers |
|
Services |
Benefit Unit Transfer Formulas |
|
Safekeeping of Separate Account Assets |
Glossary of Financial Terms |
|
Records and Reports |
Federal Tax Matters |
|
Experts |
Taxation of Separate Account Income / Investor Control |
|
|
Tax Deferral on Non-Tax-Qualified Contracts / Diversification |
|
|
Financial Statements |
Copies of the Statement of Additional Information dated April 30, 2020 are available without charge.
∙To request a copy, please clip this coupon on the dotted line below, enter your name and address in the spaces provided, and mail to: Annuity Investors Life Insurance Company, P.O. Box 5423, Cincinnati, Ohio 45201-5423.
∙You may also call us at 1-800-789-6771 or visit us at our web site www.gaig.com to request a copy.
Annuity Investors Variable Account B
Request for Statement of Additional Information
Name:
Address:
City, State, Zip:
38
APPENDIX A: CONDENSED FINANCIAL INFORMATION
|
|
|
|
Number of |
Enhanced Group |
Number of |
|
|
|
|
Number of |
|
Enhanced Group |
|
|||
|
|
|
Enhanced |
with |
|
|||
|
Standard |
Standard |
Enhanced Group |
with |
|
|||
|
Group |
Administration |
|
|||||
|
Accumulation Unit |
Accumulation |
Accumulation |
Administration |
Year |
|||
|
Accumulation |
Charges Waived |
||||||
|
Value |
Units |
Unit Value |
Charges Waived |
|
|||
|
Units |
Accumulation |
|
|||||
|
|
Outstanding |
|
Accumulation |
|
|||
|
|
|
Outstanding |
Unit Value |
|
|||
|
|
|
|
Units Outstanding |
|
|||
|
|
|
|
|
|
|
||
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco Oppenheimer V.I. Capital Appreciation Fund (formerly |
|||||||
|
Oppenheimer Capital Appreciation Fund/VA) - Non-Service Shares (Inception Date 5/1/2001) |
|
|
|||||
|
25.945840 |
64,229.192 |
27.164202 |
1,315.816 |
27.792358 |
1,664.193 |
12/31/2019 |
|
|
19.320824 |
77,838.01 |
20.166716 |
1,332.21 |
20.601844 |
2,047.42 |
12/31/2018 |
|
|
20.787761 |
85,622.54 |
21.631608 |
1,798.32 |
22.064683 |
2,652.70 |
12/31/2017 |
|
|
16.621841 |
101,246.53 |
17.244259 |
1,681.47 |
17.562976 |
3,949.31 |
12/31/2016 |
|
|
17.237538 |
114,074.55 |
17.828726 |
1,641.81 |
18.130757 |
4,101.90 |
12/31/2015 |
|
|
16.884002 |
121,151.28 |
17.410036 |
1,556.66 |
17.678184 |
5,552.16 |
12/31/2014 |
|
|
14.837432 |
134,160.76 |
15.253278 |
1,402.59 |
15.464775 |
5,289.50 |
12/31/2013 |
|
|
11.598687 |
144,156.06 |
11.887585 |
1,265.36 |
12.034178 |
4,609.74 |
12/31/2012 |
|
|
10.308821 |
164,924.90 |
10.533356 |
972.095 |
10.647028 |
3,943.63 |
12/31/2011 |
|
|
10.576448 |
215,170.66 |
10.774077 |
801.288 |
10.873899 |
3,144.99 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco Oppenheimer V.I. Conservative Balanced Fund (formerly |
|||||||
|
Oppenheimer Conservative Balanced Fund/VA) - Non-Service Shares (Inception Date 12/1/2004) |
|
|
|||||
|
13.870510 |
61,473.946 |
14.521901 |
0.000 |
14.857783 |
4,928.629 |
12/31/2019 |
|
|
11.970792 |
67,471.83 |
12.494944 |
130.368 |
12.764588 |
4,704.44 |
12/31/2018 |
|
|
12.824265 |
73,576.67 |
13.344912 |
130.368 |
13.612145 |
4,357.68 |
12/31/2017 |
|
|
11.90445 |
81,354.50 |
12.350261 |
150.558 |
12.578569 |
4,025.10 |
12/31/2016 |
|
|
11.4702 |
88,805.75 |
11.863624 |
150.558 |
12.064648 |
3,748.90 |
12/31/2015 |
|
|
11.537132 |
101,677.42 |
11.896624 |
150.558 |
12.079889 |
3,455.79 |
12/31/2014 |
|
|
10.814413 |
109,115.93 |
11.117525 |
150.558 |
11.271706 |
3,268.56 |
12/31/2013 |
|
|
9.691634 |
124,751.49 |
9.933039 |
255.08 |
10.05554 |
3,228.88 |
12/31/2012 |
|
|
8.750125 |
134,854.58 |
8.940715 |
315.357 |
9.03721 |
2,741.03 |
12/31/2011 |
|
|
8.810674 |
144,447.33 |
8.975312 |
228.835 |
9.058486 |
2,216.53 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund (formerly |
|||||||
|
Invesco V.I. Mid Cap Growth Fund) - Series I Shares (Inception Date 5/1/2012) |
|
|
|
||||
|
20.778456 |
399,344.826 |
21.269750 |
5,621.821 |
21.518766 |
4,017.855 |
12/31/2019 |
|
|
15.686644 |
458,596.21 |
16.008803 |
5,562.19 |
16.17172 |
4,903.67 |
12/31/2018 |
|
|
16.85145 |
506,233.69 |
17.144987 |
14,181.53 |
17.293078 |
5,586.18 |
12/31/2017 |
|
|
13.952044 |
560,365.33 |
14.152121 |
14,843.06 |
14.25283 |
8,041.39 |
12/31/2016 |
|
|
14.044154 |
629,368.75 |
14.202288 |
15,051.01 |
14.281704 |
7,933.56 |
12/31/2015 |
|
|
14.073889 |
676,946.47 |
14.189135 |
15,062.31 |
14.246876 |
8,895.13 |
12/31/2014 |
|
|
13.211916 |
757,880.35 |
13.279646 |
14,238.95 |
13.313508 |
8,343.93 |
12/31/2013 |
|
|
9.779536 |
815,554.47 |
9.799848 |
14,349.91 |
9.809977 |
7,635.22 |
12/31/2012 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco Oppenheimer V.I. Main Street Fund® (formerly Oppenheimer |
|||||||
|
Main Street Fund®/VA) - Non-Service Shares (Inception Date 12/1/2004) |
|
|
|
||||
|
27.326435 |
73,784.212 |
28.609474 |
4,373.802 |
29.271142 |
3,204.704 |
12/31/2019 |
|
|
20.982936 |
84,031.01 |
21.901466 |
4,351.73 |
22.374093 |
4,233.36 |
12/31/2018 |
|
|
23.104684 |
89,163.67 |
24.042425 |
10,406.44 |
24.523849 |
5,123.51 |
12/31/2017 |
|
|
20.042705 |
105,665.29 |
20.793069 |
10,972.18 |
21.177435 |
6,248.34 |
12/31/2016 |
|
|
18.211665 |
114,488.94 |
18.836141 |
10,757.05 |
19.155298 |
6,224.81 |
12/31/2015 |
|
|
17.875277 |
133,001.32 |
18.432091 |
11,125.91 |
18.716022 |
7,260.28 |
12/31/2014 |
|
|
16.376301 |
149,702.21 |
16.835166 |
10,452.74 |
17.068639 |
7,723.21 |
12/31/2013 |
|
|
12.603989 |
203,758.85 |
12.917857 |
10,313.66 |
13.077203 |
6,400.27 |
12/31/2012 |
|
|
10.938382 |
233,060.02 |
11.176588 |
8,860.48 |
11.297248 |
5,456.02 |
12/31/2011 |
|
|
11.094979 |
209,672.56 |
11.302261 |
7,668.48 |
11.407016 |
4,485.18 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. American Value Fund-Series I Shares (Inception Date |
|||||||
|
7/15/1997) |
|
|
|
|
|
|
|
|
45.668770 |
126,156.308 |
48.873730 |
526.464 |
50.556589 |
2,388.958 |
12/31/2019 |
|
|
37.045983 |
148,156.71 |
39.525501 |
526.662 |
40.824605 |
2,635.44 |
12/31/2018 |
|
|
43.016172 |
160,845.28 |
45.755071 |
525.995 |
47.186932 |
2,885.08 |
12/31/2017 |
|
|
39.67262 |
178,332.22 |
42.070924 |
612.756 |
43.322037 |
2,369.98 |
12/31/2016 |
|
|
34.83791 |
203,226.38 |
36.831769 |
853.289 |
37.869676 |
2,377.10 |
12/31/2015 |
|
|
38.881369 |
231,791.96 |
40.981753 |
1,170.66 |
42.07279 |
2,244.34 |
12/31/2014 |
|
|
|
|
|
|
|
|
39 |
|
|
|
|
|
Number of |
Enhanced Group |
Number of |
|
|
|
|
Number of |
|
Enhanced Group |
|
|||
|
|
|
Enhanced |
with |
|
|||
|
Standard |
Standard |
Enhanced Group |
with |
|
|||
|
Group |
Administration |
|
|||||
|
Accumulation Unit |
Accumulation |
Accumulation |
Administration |
Year |
|||
|
Accumulation |
Charges Waived |
||||||
|
Value |
Units |
Unit Value |
Charges Waived |
|
|||
|
Units |
Accumulation |
|
|||||
|
|
Outstanding |
|
Accumulation |
|
|||
|
|
|
Outstanding |
Unit Value |
|
|||
|
|
|
|
Units Outstanding |
|
|||
|
|
|
|
|
|
|
||
|
35.930113 |
263,974.44 |
37.756096 |
1,169.57 |
38.702592 |
2,002.22 |
12/31/2013 |
|
|
27.140076 |
290,678.04 |
28.432847 |
1,429.03 |
29.101539 |
1,890.71 |
12/31/2012 |
|
|
23.466359 |
337,061.53 |
24.50912 |
1,547.94 |
25.047366 |
1,733.77 |
12/31/2011 |
|
|
23.581678 |
373,350.17 |
24.554917 |
1,968.93 |
25.05626 |
1,452.87 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Comstock Fund-Series I Shares (Inception Date 5/1/2011) |
|||||||
|
20.164599 |
262,694.749 |
20.703926 |
4,810.577 |
20.978006 |
7,354.164 |
12/31/2019 |
|
|
16.32131 |
299,798.76 |
16.707002 |
4,755.29 |
16.902566 |
7,812.71 |
12/31/2018 |
|
|
18.846892 |
347,044.34 |
19.233334 |
12,024.38 |
19.42883 |
8,391.26 |
12/31/2017 |
|
|
16.218464 |
393,093.79 |
16.50094 |
12,833.55 |
16.643512 |
7,569.41 |
12/31/2016 |
|
|
14.023038 |
464,068.02 |
14.223964 |
12,445.68 |
14.325153 |
7,614.41 |
12/31/2015 |
|
|
15.127068 |
549,921.24 |
15.297214 |
12,922.49 |
15.382713 |
7,248.74 |
12/31/2014 |
|
|
14.025444 |
593,591.60 |
14.140141 |
12,289.56 |
14.197646 |
6,818.75 |
12/31/2013 |
|
|
10.46122 |
669,292.36 |
10.514778 |
12,246.41 |
10.541572 |
5,859.89 |
12/31/2012 |
|
|
8.899027 |
788,946.97 |
8.917305 |
11,301.18 |
8.926428 |
5,085.24 |
12/31/2011 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Core Equity Fund-Series I Shares (Inception Date 5/1/2006) |
|||||||
|
20.884135 |
176,559.941 |
21.771670 |
930.690 |
22.227823 |
1,554.216 |
12/31/2019 |
|
|
16.423684 |
242,238.56 |
17.069691 |
919.825 |
17.40096 |
1,521.34 |
12/31/2018 |
|
|
18.385595 |
248,310.38 |
19.050391 |
909.013 |
19.390523 |
1,421.04 |
12/31/2017 |
|
|
16.475403 |
274,763.52 |
17.019471 |
991.651 |
17.297211 |
2,555.49 |
12/31/2016 |
|
|
15.153952 |
301,183.94 |
15.606865 |
1,212.46 |
15.837549 |
2,478.34 |
12/31/2015 |
|
|
16.310261 |
333,757.87 |
16.746716 |
2,071.60 |
16.968526 |
2,416.17 |
12/31/2014 |
|
|
15.295791 |
413,576.95 |
15.657419 |
2,035.54 |
15.840787 |
2,221.24 |
12/31/2013 |
|
|
12.002368 |
476,803.91 |
12.248855 |
3,349.55 |
12.373554 |
2,484.70 |
12/31/2012 |
|
|
10.689653 |
548,698.73 |
10.875898 |
3,343.53 |
10.969906 |
2,476.62 |
12/31/2011 |
|
|
10.848006 |
619,908.79 |
11.003568 |
4,671.52 |
11.081917 |
141.577 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Diversified Dividend Fund-Series I Shares (Inception Date |
|||||||
|
5/1/2001) |
|
|
|
|
|
|
|
|
21.074460 |
66,053.852 |
21.638073 |
1,487.324 |
21.924534 |
943.235 |
12/31/2019 |
|
|
17.086488 |
69,751.19 |
17.490218 |
1,440.08 |
17.694944 |
917.411 |
12/31/2018 |
|
|
18.750796 |
82,286.05 |
19.135216 |
931.52 |
19.32972 |
2,618.17 |
12/31/2017 |
|
|
17.514512 |
95,315.04 |
17.819491 |
710.802 |
17.973455 |
2,498.69 |
12/31/2016 |
|
|
15.471471 |
70,769.55 |
15.693115 |
662.559 |
15.804761 |
2,484.07 |
12/31/2015 |
|
|
15.373433 |
77,348.61 |
15.54633 |
602.944 |
15.633236 |
2,964.50 |
12/31/2014 |
|
|
13.819067 |
85,781.76 |
13.932071 |
514.308 |
13.988754 |
3,230.95 |
12/31/2013 |
|
|
10.695708 |
78,953.09 |
10.750457 |
411.372 |
10.777863 |
512.35 |
12/31/2012 |
|
|
9.137312 |
82,836.99 |
9.15607 |
307.18 |
9.165439 |
329.924 |
12/31/2011 |
|
|
5.552872 |
156,743.56 |
5.717504 |
324.287 |
5.801496 |
445.947 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Health Care Fund (formerly Invesco V.I. Global Health Care |
|||||||
|
Fund) - Series I Shares (Inception Date 5/1/2001) |
|
|
|
|
|||
|
29.949460 |
104,834.735 |
31.692527 |
136.496 |
32.599255 |
3,644.843 |
12/31/2019 |
|
|
22.923461 |
119,418.84 |
24.183994 |
137.355 |
24.83826 |
3,583.11 |
12/31/2018 |
|
|
23.042422 |
126,749.40 |
24.235229 |
137.355 |
24.852971 |
5,250.90 |
12/31/2017 |
|
|
20.17555 |
141,265.26 |
21.155737 |
267.974 |
21.662237 |
5,261.27 |
12/31/2016 |
|
|
23.110886 |
165,270.50 |
24.160083 |
550.728 |
24.701052 |
4,831.98 |
12/31/2015 |
|
|
22.720334 |
185,802.25 |
23.679662 |
550.728 |
24.173229 |
5,128.79 |
12/31/2014 |
|
|
19.255552 |
195,336.04 |
20.007688 |
550.739 |
20.393828 |
5,066.88 |
12/31/2013 |
|
|
13.895436 |
211,794.81 |
14.394421 |
550.739 |
14.65004 |
1,975.99 |
12/31/2012 |
|
|
11.657407 |
230,720.23 |
12.039189 |
605.538 |
12.234356 |
2,044.35 |
12/31/2011 |
|
|
11.373404 |
252,316.57 |
11.710286 |
983.143 |
11.882155 |
1,088.09 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. High Yield Fund-Series I Shares (Inception Date 4/30/2004) |
|||||||
|
20.889853 |
46,976.401 |
21.909981 |
1,895.953 |
22.436625 |
4,824.646 |
12/31/2019 |
|
|
18.665075 |
56,038.37 |
19.51714 |
820.507 |
19.956034 |
5,236.84 |
12/31/2018 |
|
|
19.588181 |
85,495.01 |
20.419862 |
491.373 |
20.847272 |
5,152.94 |
12/31/2017 |
|
|
18.688177 |
99,087.45 |
19.422702 |
314.056 |
19.799297 |
4,999.57 |
12/31/2016 |
|
|
17.042638 |
111,501.73 |
17.658726 |
262.961 |
17.973878 |
5,285.52 |
12/31/2015 |
|
|
|
|
|
|
|
|
40 |
|
|
|
|
|
|
Number of |
Enhanced Group |
Number of |
|
|
|
Number of |
|
|
Enhanced Group |
|
||
|
|
|
|
Enhanced |
with |
|
||
|
Standard |
Standard |
|
Enhanced Group |
with |
|
||
|
|
Group |
Administration |
|
||||
|
Accumulation Unit |
Accumulation |
|
Accumulation |
Administration |
Year |
||
|
|
Accumulation |
Charges Waived |
|||||
|
Value |
Units |
|
Unit Value |
Charges Waived |
|
||
|
|
Units |
Accumulation |
|
||||
|
|
Outstanding |
|
|
Accumulation |
|
||
|
|
|
|
Outstanding |
Unit Value |
|
||
|
|
|
|
|
Units Outstanding |
|
||
|
|
|
|
|
|
|
|
|
|
17.849906 |
133,047.82 |
|
18.439012 |
216.334 |
18.739678 |
6,071.37 |
12/31/2014 |
|
17.796241 |
141,076.36 |
|
18.327761 |
208.149 |
18.59843 |
5,643.65 |
12/31/2013 |
|
16.866905 |
142,423.20 |
|
17.317952 |
390.262 |
17.547102 |
5,783.25 |
12/31/2012 |
|
14.600221 |
157,990.73 |
|
14.944921 |
352.137 |
15.119626 |
1,434.07 |
12/31/2011 |
|
14.665988 |
178,635.31 |
|
14.966783 |
320.571 |
15.118875 |
429.175 |
12/31/2010 |
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Small Cap Equity Fund-Series I Shares (Inception Date |
|||||||
|
12/1/2004) |
|
|
|
|
|
|
|
|
24.347354 |
78,385.692 |
|
25.490914 |
465.572 |
26.080462 |
2,812.645 |
12/31/2019 |
|
19.505101 |
90,665.06 |
|
20.359241 |
628.637 |
20.798573 |
2,862.22 |
12/31/2018 |
|
23.297155 |
102,187.87 |
|
24.243041 |
246.686 |
24.728439 |
4,241.91 |
12/31/2017 |
|
20.71525 |
122,523.86 |
|
21.491079 |
254.48 |
21.888298 |
4,440.90 |
12/31/2016 |
|
18.747766 |
141,141.93 |
|
19.390873 |
214.328 |
19.719385 |
4,212.43 |
12/31/2015 |
|
20.124852 |
167,038.83 |
|
20.751973 |
197.77 |
21.071586 |
3,598.14 |
12/31/2014 |
|
19.939934 |
183,064.25 |
|
20.498848 |
238.178 |
20.78304 |
3,356.47 |
12/31/2013 |
|
14.711363 |
208,253.92 |
|
15.077854 |
179.356 |
15.263779 |
2,468.98 |
12/31/2012 |
|
13.101043 |
256,379.49 |
|
13.386439 |
120.842 |
13.530893 |
1,047.56 |
12/31/2011 |
|
13.383892 |
236,908.71 |
|
13.634006 |
1,679.53 |
13.7603 |
404.592 |
12/31/2010 |
|
ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio (formerly Ibbotson Balanced ETF Asset Allocation |
|||||||
|
Portfolio)-Class II (Inception Date 5/1/2007) |
|
|
|
|
|
||
|
14.529538 |
68,362.242 |
|
15.100613 |
94.125 |
15.393457 |
2,903.350 |
12/31/2019 |
|
12.674882 |
68,988.61 |
|
13.133079 |
96.246 |
13.367509 |
8,793.64 |
12/31/2018 |
|
13.710436 |
82,233.59 |
|
14.16268 |
208.222 |
14.393537 |
10,316.72 |
12/31/2017 |
|
12.269155 |
122,256.90 |
|
12.635512 |
211.693 |
12.822099 |
11,362.68 |
12/31/2016 |
|
11.471173 |
159,102.20 |
|
11.777849 |
215.385 |
11.933697 |
12,922.19 |
12/31/2015 |
|
11.898427 |
198,242.66 |
|
12.179423 |
219.412 |
12.321907 |
16,080.33 |
12/31/2014 |
|
11.546536 |
213,422.10 |
|
11.783338 |
223.175 |
11.903144 |
13,588.43 |
12/31/2013 |
|
10.468828 |
263,014.52 |
|
10.651102 |
1,743.84 |
10.743106 |
10,673.27 |
12/31/2012 |
|
9.582086 |
220,613.24 |
|
9.719178 |
1,579.76 |
9.788226 |
7,632.28 |
12/31/2011 |
|
9.804853 |
213,433.13 |
|
9.915011 |
1,409.93 |
9.970363 |
2,636.26 |
12/31/2010 |
|
ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio (formerly Ibbotson Conservative ETF Asset |
|||||||
|
Allocation Portfolio)-Class II (Inception Date 5/1/2007) |
|
|
|
|
|||
|
12.672433 |
26,029.988 |
|
13.170444 |
0.000 |
13.425896 |
3,357.481 |
12/31/2019 |
|
11.734388 |
25,864.57 |
|
12.158514 |
0.000 |
12.37858 |
2,698.81 |
12/31/2018 |
|
12.190491 |
29,049.72 |
|
12.592535 |
85.389 |
12.797834 |
5,672.20 |
12/31/2017 |
|
11.641073 |
35,422.71 |
|
11.988591 |
88.315 |
12.165658 |
5,093.08 |
12/31/2016 |
|
11.286371 |
33,325.59 |
|
11.588016 |
91.32 |
11.741371 |
4,501.96 |
12/31/2015 |
|
11.587015 |
40,250.59 |
|
11.86058 |
94.501 |
11.999347 |
4,674.01 |
12/31/2014 |
|
11.435143 |
49,479.76 |
|
11.669589 |
610.793 |
11.78824 |
4,366.46 |
12/31/2013 |
|
11.307621 |
58,845.16 |
|
11.504437 |
2,043.47 |
11.603815 |
3,142.10 |
12/31/2012 |
|
10.901054 |
63,179.72 |
|
11.056957 |
1,896.82 |
11.135492 |
1,875.59 |
12/31/2011 |
|
10.718686 |
70,369.21 |
|
10.839062 |
1,744.89 |
10.899571 |
416.864 |
12/31/2010 |
|
ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio (formerly Ibbotson Growth ETF Asset Allocation |
|||||||
|
Portfolio)-Class II (Inception Date 5/1/2007) |
|
|
|
|
|
||
|
14.997429 |
115,324.322 |
|
15.586894 |
0.000 |
15.889197 |
28,875.473 |
12/31/2019 |
|
12.700056 |
119,297.22 |
|
13.159159 |
0.000 |
13.394078 |
32,633.80 |
12/31/2018 |
|
14.007776 |
141,983.10 |
|
14.469822 |
0.000 |
14.70571 |
28,191.45 |
12/31/2017 |
|
12.111117 |
151,182.63 |
|
12.472753 |
73.832 |
12.656955 |
27,511.84 |
12/31/2016 |
|
11.197553 |
187,047.11 |
|
11.49691 |
41.748 |
11.649053 |
24,974.81 |
12/31/2015 |
|
11.649302 |
230,981.64 |
|
11.924422 |
41.993 |
12.063926 |
23,995.49 |
12/31/2014 |
|
11.297881 |
282,439.88 |
|
11.529597 |
26.457 |
11.646826 |
24,988.65 |
12/31/2013 |
|
9.831643 |
311,928.95 |
|
10.002842 |
2,006.07 |
10.089265 |
29,541.37 |
12/31/2012 |
|
8.831294 |
325,548.20 |
|
8.957666 |
1,767.90 |
9.021307 |
23,401.80 |
12/31/2011 |
|
9.298466 |
292,906.24 |
|
9.402949 |
1,525.29 |
9.455443 |
19,638.56 |
12/31/2010 |
41
|
|
|
|
|
Number of |
Enhanced Group |
Number of |
|
|
|
Number of |
|
|
Enhanced Group |
|
||
|
|
|
|
Enhanced |
with |
|
||
|
Standard |
Standard |
Enhanced Group |
|
with |
|
||
|
|
Group |
Administration |
|
||||
|
Accumulation Unit |
Accumulation |
Accumulation |
|
Administration |
Year |
||
|
|
Accumulation |
Charges Waived |
|||||
|
Value |
Units |
Unit Value |
|
Charges Waived |
|
||
|
|
Units |
Accumulation |
|
||||
|
|
Outstanding |
|
|
Accumulation |
|
||
|
|
|
|
Outstanding |
Unit Value |
|
||
|
|
|
|
|
Units Outstanding |
|
||
|
|
|
|
|
|
|
|
|
|
ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio (formerly Ibbotson Income and Growth |
|||||||
|
ETF Asset Allocation Portfolio)-Class II (Inception Date 5/1/2007) |
|
|
|
|
|||
|
13.534043 |
35,657.926 |
14.065988 |
|
0.000 |
14.338756 |
5,327.045 |
12/31/2019 |
|
12.157657 |
35,781.37 |
12.597145 |
|
0.000 |
12.822001 |
5,456.54 |
12/31/2018 |
|
12.878807 |
37,574.13 |
13.303615 |
|
0.000 |
13.520464 |
6,135.05 |
12/31/2017 |
|
11.880294 |
34,622.96 |
12.235008 |
|
105.919 |
12.415684 |
6,255.47 |
12/31/2016 |
|
11.327107 |
44,847.18 |
11.629898 |
|
58.069 |
11.783766 |
6,371.24 |
12/31/2015 |
|
11.684006 |
47,542.95 |
11.959911 |
|
58.41 |
12.099799 |
9,974.29 |
12/31/2014 |
|
11.470964 |
54,707.90 |
11.706201 |
|
35.377 |
11.825199 |
9,992.38 |
12/31/2013 |
|
10.839063 |
78,530.34 |
11.027762 |
|
2,540.03 |
11.123004 |
24,783.85 |
12/31/2012 |
|
10.191838 |
70,451.81 |
10.337621 |
|
2,051.43 |
10.411042 |
20,552.58 |
12/31/2011 |
|
10.225248 |
72,550.68 |
10.340093 |
|
1,553.51 |
10.397817 |
15,416.85 |
12/31/2010 |
|
American Century Variable Portfolios, Inc. - VP Capital Appreciation Fund-Class I Shares (Inception Date 4/25/2014) |
|
||||||
|
16.570767 |
379,715.168 |
16.859974 |
|
2,208.131 |
17.005924 |
1,381.375 |
12/31/2019 |
|
12.39702 |
429,716.87 |
12.575093 |
|
2,177.40 |
12.664761 |
1,422.81 |
12/31/2018 |
|
13.263334 |
470,318.78 |
13.412761 |
|
2,142.15 |
13.48782 |
1,398.01 |
12/31/2017 |
|
11.044358 |
514,956.44 |
11.13499 |
|
2,131.14 |
11.180411 |
1,005.58 |
12/31/2016 |
|
10.850824 |
582,161.79 |
10.906648 |
|
2,393.52 |
10.934561 |
667.11 |
12/31/2015 |
|
10.796387 |
624,423.75 |
10.818977 |
|
2,356.96 |
10.83025 |
862.04 |
12/31/2014 |
|
American Century Variable Portfolios, Inc. - VP Large Company Value Fund-Class I Shares (Inception Date 5/1/2004) |
|
||||||
|
21.585337 |
94,416.123 |
22.598986 |
|
2,547.849 |
23.121709 |
7,015.212 |
12/31/2019 |
|
17.173171 |
102,962.42 |
17.92507 |
|
1,357.83 |
18.311934 |
8,131.51 |
12/31/2018 |
|
18.941571 |
110,653.76 |
19.710512 |
|
541.332 |
20.105238 |
9,071.07 |
12/31/2017 |
|
17.294702 |
134,268.23 |
17.942334 |
|
633.243 |
18.274036 |
8,598.41 |
12/31/2016 |
|
15.219626 |
137,942.89 |
15.741616 |
|
628.375 |
16.008379 |
8,690.22 |
12/31/2015 |
|
16.061236 |
160,682.41 |
16.561636 |
|
561.806 |
16.816791 |
9,035.14 |
12/31/2014 |
|
14.43182 |
175,214.84 |
14.836291 |
|
571.713 |
15.042053 |
9,459.97 |
12/31/2013 |
|
11.14451 |
186,739.57 |
11.422098 |
|
524.589 |
11.563002 |
5,635.68 |
12/31/2012 |
|
9.711168 |
214,654.02 |
9.922696 |
|
318.584 |
10.029814 |
3,584.11 |
12/31/2011 |
|
9.739897 |
221,618.54 |
9.921895 |
|
286.016 |
10.013853 |
393.296 |
12/31/2010 |
|
American Century Variable Portfolios, Inc. - VP Mid Cap Value Fund-Class I Shares (Inception Date 12/1/2004) |
|
||||||
|
33.835591 |
175,274.411 |
35.424470 |
|
2,131.968 |
36.243486 |
7,164.805 |
12/31/2019 |
|
26.570689 |
208,380.63 |
27.733995 |
|
1,076.63 |
28.332275 |
7,040.09 |
12/31/2018 |
|
30.91912 |
216,518.76 |
32.174215 |
|
585.596 |
32.818222 |
8,092.31 |
12/31/2017 |
|
28.07384 |
244,746.57 |
29.125035 |
|
586.498 |
29.663191 |
7,956.70 |
12/31/2016 |
|
23.175701 |
258,198.40 |
23.970544 |
|
543.419 |
24.376526 |
8,266.71 |
12/31/2015 |
|
23.846341 |
288,924.80 |
24.589295 |
|
1,074.16 |
24.967893 |
8,684.60 |
12/31/2014 |
|
20.773235 |
339,492.66 |
21.355435 |
|
1,046.93 |
21.651433 |
8,069.33 |
12/31/2013 |
|
16.191909 |
372,125.29 |
16.59521 |
|
1,045.84 |
16.799792 |
6,345.66 |
12/31/2012 |
|
14.117831 |
438,456.61 |
14.425323 |
|
1,594.42 |
14.580948 |
3,634.41 |
12/31/2011 |
|
14.417878 |
512,668.30 |
14.687266 |
|
1,820.74 |
14.823288 |
491.989 |
12/31/2010 |
|
American Century Variable Portfolios, Inc. - VP Ultra® Fund-Class I Shares (Inception Date 12/1/2004) |
|
|
|||||
|
31.727836 |
162,238.895 |
33.217637 |
|
3,778.376 |
33.985680 |
2,203.330 |
12/31/2019 |
|
23.909962 |
172,604.63 |
24.95671 |
|
2,909.17 |
25.495118 |
2,512.38 |
12/31/2018 |
|
24.068846 |
193,207.10 |
25.045841 |
|
2,438.28 |
25.547213 |
2,699.47 |
12/31/2017 |
|
18.460379 |
223,176.23 |
19.151631 |
|
2,422.88 |
19.505555 |
2,874.07 |
12/31/2016 |
|
17.925624 |
255,811.36 |
18.5404 |
|
2,535.02 |
18.854464 |
3,749.15 |
12/31/2015 |
|
17.107295 |
296,099.86 |
17.640295 |
|
2,469.78 |
17.911967 |
3,740.19 |
12/31/2014 |
|
15.773566 |
323,332.42 |
16.215644 |
|
2,441.77 |
16.44046 |
3,376.87 |
12/31/2013 |
|
11.670588 |
343,466.58 |
11.961288 |
|
3,573.18 |
12.108775 |
2,630.15 |
12/31/2012 |
|
10.390341 |
382,563.08 |
10.61666 |
|
4,254.93 |
10.73123 |
2,115.88 |
12/31/2011 |
|
10.42636 |
425,837.80 |
10.62119 |
|
7,693.77 |
10.719593 |
399.26 |
12/31/2010 |
|
BNY Mellon Investment Portfolios - MidCap Stock Portfolio-Service Shares (Inception Date 5/1/2007) |
|
|
|||||
|
18.873899 |
39,617.735 |
19.615855 |
|
1,969.313 |
19.996294 |
4,055.330 |
12/31/2019 |
|
15.970724 |
32,628.64 |
16.548146 |
|
559.293 |
16.843549 |
4,717.24 |
12/31/2018 |
|
|
|
|
|
|
|
|
42 |
|
|
|
|
Number of |
Enhanced Group |
Number of |
|
|
|
|
Number of |
|
Enhanced Group |
|
|||
|
|
|
Enhanced |
with |
|
|||
|
Standard |
Standard |
Enhanced Group |
with |
|
|||
|
Group |
Administration |
|
|||||
|
Accumulation Unit |
Accumulation |
Accumulation |
Administration |
Year |
|||
|
Accumulation |
Charges Waived |
||||||
|
Value |
Units |
Unit Value |
Charges Waived |
|
|||
|
Units |
Accumulation |
|
|||||
|
|
Outstanding |
|
Accumulation |
|
|||
|
|
|
Outstanding |
Unit Value |
|
|||
|
|
|
|
Units Outstanding |
|
|||
|
|
|
|
|
|
|
||
|
19.21253 |
36,574.62 |
19.846323 |
508.071 |
20.169823 |
5,512.77 |
12/31/2017 |
|
|
16.937194 |
56,130.79 |
17.442998 |
456.378 |
17.700576 |
4,420.92 |
12/31/2016 |
|
|
14.911004 |
46,573.19 |
15.309701 |
397.838 |
15.512272 |
5,342.89 |
12/31/2015 |
|
|
15.513096 |
48,348.29 |
15.879524 |
341.424 |
16.065283 |
4,764.92 |
12/31/2014 |
|
|
14.077773 |
72,702.27 |
14.366547 |
414.62 |
14.512605 |
4,330.18 |
12/31/2013 |
|
|
10.599682 |
65,350.49 |
10.784301 |
360.021 |
10.877464 |
3,153.54 |
12/31/2012 |
|
|
9.008668 |
51,137.41 |
9.137629 |
211.394 |
9.202542 |
2,825.89 |
12/31/2011 |
|
|
9.118201 |
54,623.67 |
9.220701 |
138.711 |
9.272177 |
0 |
12/31/2010 |
|
|
BNY Mellon Investment Portfolios - Technology Growth Portfolio-Initial Shares (Inception Date 12/1/2004) |
|
||||||
|
36.736656 |
396,613.668 |
38.461751 |
208.174 |
39.351142 |
1,829.966 |
12/31/2019 |
|
|
29.613404 |
442,908.76 |
30.909886 |
244.221 |
31.576786 |
2,283.28 |
12/31/2018 |
|
|
30.334918 |
488,479.87 |
31.56628 |
249.916 |
32.198237 |
2,268.66 |
12/31/2017 |
|
|
21.567782 |
512,748.57 |
22.375403 |
391.036 |
22.788962 |
2,391.40 |
12/31/2016 |
|
|
20.887553 |
571,241.43 |
21.603916 |
407.64 |
21.969931 |
2,422.90 |
12/31/2015 |
|
|
19.955171 |
614,566.78 |
20.576893 |
678.564 |
20.893838 |
2,566.64 |
12/31/2014 |
|
|
18.945844 |
696,116.73 |
19.476811 |
1,048.83 |
19.746873 |
2,271.78 |
12/31/2013 |
|
|
14.468533 |
760,683.23 |
14.828894 |
3,828.37 |
15.011755 |
1,302.88 |
12/31/2012 |
|
|
12.692241 |
830,225.68 |
12.968656 |
4,375.54 |
13.108589 |
1,504.32 |
12/31/2011 |
|
|
13.958169 |
919,000.96 |
14.218937 |
5,554.46 |
14.350654 |
906.463 |
12/31/2010 |
|
|
BNY Mellon Stock Index Fund, Inc. (formerly Dreyfus Stock Index Fund, Inc.) - Initial Shares (Inception Date 7/15/1997) |
|
||||||
|
36.775508 |
1,219,412.285 |
39.355845 |
8,210.722 |
40.710506 |
10,646.533 |
12/31/2019 |
|
|
28.431536 |
1,346,581.09 |
30.334078 |
7,857.67 |
31.330726 |
11,829.34 |
12/31/2018 |
|
|
30.239361 |
1,482,733.57 |
32.164341 |
14,890.15 |
33.170525 |
13,825.88 |
12/31/2017 |
|
|
25.232552 |
1,617,362.45 |
26.757619 |
15,804.38 |
27.553046 |
15,879.79 |
12/31/2016 |
|
|
22.908763 |
1,785,686.05 |
24.219646 |
15,778.08 |
24.901892 |
14,739.39 |
12/31/2015 |
|
|
22.979508 |
1,962,116.61 |
24.220689 |
17,485.16 |
24.865276 |
14,887.34 |
12/31/2014 |
|
|
20.547425 |
2,179,625.80 |
21.591509 |
16,677.02 |
22.132579 |
13,737.83 |
12/31/2013 |
|
|
15.783917 |
2,415,631.77 |
16.535639 |
19,777.98 |
16.924374 |
8,913.13 |
12/31/2012 |
|
|
13.832288 |
2,653,082.65 |
14.446851 |
17,801.51 |
14.763987 |
7,607.88 |
12/31/2011 |
|
|
13.76966 |
2,952,544.40 |
14.337884 |
16,707.67 |
14.630486 |
6,314.99 |
12/31/2010 |
|
|
BNY Mellon Sustainable U.S. Equity Portfolio, Inc. (formerly The Dreyfus Sustainable U.S. Equity Portfolio, Inc. )- Initial Shares (Inception |
|||||||
|
Date 7/15/1997) |
|
|
|
|
|
|
|
|
27.957786 |
236,290.374 |
29.919779 |
2,061.589 |
30.949362 |
1,391.983 |
12/31/2019 |
|
|
21.103706 |
259,502.51 |
22.51616 |
2,061.59 |
23.255729 |
1,299.97 |
12/31/2018 |
|
|
22.390668 |
284,212.59 |
23.816289 |
2,061.59 |
24.561109 |
1,202.67 |
12/31/2017 |
|
|
19.688779 |
306,812.36 |
20.878997 |
2,061.59 |
21.499481 |
1,099.93 |
12/31/2016 |
|
|
18.091666 |
343,312.88 |
19.127115 |
2,061.59 |
19.665732 |
1,018.29 |
12/31/2015 |
|
|
18.954087 |
384,416.78 |
19.978033 |
2,241.58 |
20.509527 |
937.748 |
12/31/2014 |
|
|
16.943964 |
421,241.32 |
17.805108 |
2,241.58 |
18.251125 |
853.221 |
12/31/2013 |
|
|
12.791488 |
451,515.11 |
13.400813 |
8,371.44 |
13.715738 |
752.452 |
12/31/2012 |
|
|
11.586654 |
484,797.89 |
12.101538 |
9,130.07 |
12.367091 |
631.853 |
12/31/2011 |
|
|
11.646028 |
515,234.32 |
12.126698 |
8,587.14 |
12.374074 |
500.964 |
12/31/2010 |
|
|
BNY Mellon Variable Investment Fund - Appreciation Portfolio-Initial Shares (Inception Date 12/7/1995) |
|
|
|||||
|
35.693379 |
203,586.165 |
38.197749 |
467.094 |
39.511978 |
3,474.434 |
12/31/2019 |
|
|
26.598771 |
246,921.96 |
28.378656 |
476.232 |
29.310645 |
3,566.35 |
12/31/2018 |
|
|
28.963346 |
277,114.47 |
30.807076 |
587.261 |
31.770364 |
4,429.08 |
12/31/2017 |
|
|
23.068326 |
313,635.00 |
24.462574 |
577.01 |
25.189444 |
4,594.64 |
12/31/2016 |
|
|
21.682243 |
351,273.96 |
22.922927 |
551.498 |
23.568335 |
4,423.11 |
12/31/2015 |
|
|
22.546786 |
380,146.00 |
23.764559 |
544.476 |
24.396672 |
4,276.22 |
12/31/2014 |
|
|
21.155122 |
418,467.62 |
22.230051 |
535.478 |
22.7868 |
4,112.46 |
12/31/2013 |
|
|
17.71666 |
480,698.67 |
18.560388 |
1,500.96 |
18.996453 |
3,838.95 |
12/31/2012 |
|
|
16.272277 |
530,768.20 |
16.995212 |
1,550.49 |
17.36805 |
2,656.36 |
12/31/2011 |
|
|
15.138504 |
574,110.52 |
15.763195 |
1,560.59 |
16.084677 |
75.249 |
12/31/2010 |
|
|
BNY Mellon Variable Investment Fund - Government Money Market Portfolio (formerly Money Market Portfolio) (Inception Date 5/1/2005) |
|||||||
|
1.105578 |
1,828,750.595 |
1.175421 |
37,442.075 |
1.210919 |
64,118.658 |
12/31/2019 |
|
|
|
|
|
|
|
|
43 |
|
|
|
|
|
Number of |
Enhanced Group |
Number of |
|
|
|
|
Number of |
|
Enhanced Group |
|
|||
|
|
|
Enhanced |
with |
|
|||
|
Standard |
Standard |
Enhanced Group |
with |
|
|||
|
Group |
Administration |
|
|||||
|
Accumulation Unit |
Accumulation |
Accumulation |
Administration |
Year |
|||
|
Accumulation |
Charges Waived |
||||||
|
Value |
Units |
Unit Value |
Charges Waived |
|
|||
|
Units |
Accumulation |
|
|||||
|
|
Outstanding |
|
Accumulation |
|
|||
|
|
|
Outstanding |
Unit Value |
|
|||
|
|
|
|
Units Outstanding |
|
|||
|
|
|
|
|
|
|
||
|
1.103252 |
2,118,495.08 |
1.169922 |
36,671.58 |
1.203909 |
63,613.47 |
12/31/2018 |
|
|
1.104735 |
1,970,215.93 |
1.168216 |
36,308.07 |
1.200684 |
58,962,181 |
12/31/2017 |
|
|
1.115491 |
2,296,946.12 |
1.175804 |
35,749.65 |
1.206769 |
60,470.51 |
12/31/2016 |
|
|
1.129593 |
2,544,081.05 |
1.186727 |
37,601.12 |
1.216187 |
100,173.95 |
12/31/2015 |
|
|
1.143772 |
2,249,655.71 |
1.197729 |
45,802.10 |
1.225682 |
49,281.98 |
12/31/2014 |
|
|
1.157951 |
2,752,059.24 |
1.208733 |
44,065.54 |
1.235177 |
44,726.98 |
12/31/2013 |
|
|
1.17213 |
3,400,012.12 |
1.219739 |
46,883.55 |
1.244672 |
34,550.35 |
12/31/2012 |
|
|
1.186386 |
4,042,444.47 |
1.230805 |
43,697.06 |
1.254221 |
22,403.49 |
12/31/2011 |
|
|
1.200448 |
4,830,483.05 |
1.241697 |
42,561.82 |
1.263611 |
15,198.02 |
12/31/2010 |
|
|
BNY Mellon Variable Investment Fund - Growth & Income Portfolio-Initial Shares (Inception Date 12/7/1995) |
|
||||||
|
29.924843 |
111,277.717 |
32.024685 |
305.155 |
33.126852 |
854.091 |
12/31/2019 |
|
|
23.504757 |
133,555.02 |
25.077758 |
305.155 |
25.901582 |
853.785 |
12/31/2018 |
|
|
25.012385 |
145,317.62 |
26.604776 |
346.723 |
27.436916 |
858.764 |
12/31/2017 |
|
|
21.190181 |
156,256.41 |
22.471033 |
417.867 |
23.138929 |
1,118.77 |
12/31/2016 |
|
|
19.531634 |
178,509.33 |
20.649363 |
390.149 |
21.230935 |
1,112.46 |
12/31/2015 |
|
|
19.500115 |
202,650.21 |
20.55345 |
513.659 |
21.100324 |
1,444.10 |
12/31/2014 |
|
|
17.966939 |
226,651.89 |
18.879977 |
499.416 |
19.352985 |
1,455.62 |
12/31/2013 |
|
|
13.321838 |
256,128.61 |
13.956353 |
5,161.12 |
14.284381 |
735.182 |
12/31/2012 |
|
|
11.443593 |
267,262.29 |
11.95208 |
4,813.44 |
12.214396 |
704.263 |
12/31/2011 |
|
|
11.939359 |
304,183.81 |
12.432089 |
4,442.43 |
12.685752 |
4.044 |
12/31/2010 |
|
|
BNY Mellon Variable Investment Fund - Opportunistic Small Cap Portfolio-Initial Shares (Inception Date 12/7/1997) |
|
||||||
|
25.324994 |
224,400.806 |
27.102555 |
431.467 |
28.035898 |
765.555 |
12/31/2019 |
|
|
21.091193 |
243,815.95 |
22.503059 |
409.209 |
23.242783 |
1,402.59 |
12/31/2018 |
|
|
26.435803 |
271,873.22 |
28.119216 |
395.896 |
28.999283 |
1,092.21 |
12/31/2017 |
|
|
21.502974 |
299,787.77 |
22.803068 |
368.259 |
23.481275 |
636.263 |
12/31/2016 |
|
|
18.628278 |
318,395.69 |
19.694616 |
364.442 |
20.249677 |
631.417 |
12/31/2015 |
|
|
19.33319 |
353,830.75 |
20.37782 |
335.932 |
20.920413 |
1,137.14 |
12/31/2014 |
|
|
19.299985 |
392,346.55 |
20.281036 |
304.495 |
20.789513 |
806.254 |
12/31/2013 |
|
|
13.176728 |
439,984.82 |
13.804535 |
1,780.47 |
14.12925 |
239.222 |
12/31/2012 |
|
|
11.085179 |
470,581.55 |
11.577904 |
1,777.38 |
11.832216 |
608.696 |
12/31/2011 |
|
|
13.04917 |
505,999.34 |
13.587862 |
2,196.61 |
13.865307 |
565.947 |
12/31/2010 |
|
|
Deutsche DWS Investments VIT Funds - DWS Small Cap Index VIP (formerly Deutsche Small Cap Index VIP)-Class A (Inception Date |
|||||||
|
5/1/1999) |
|
|
|
|
|
|
|
|
35.293731 |
97,232.839 |
37.569824 |
307.398 |
38.759660 |
2,096.343 |
12/31/2019 |
|
|
28.584952 |
115,349.61 |
30.336039 |
341.741 |
31.249433 |
2,840.23 |
12/31/2018 |
|
|
32.661008 |
121,522.08 |
34.555881 |
320.904 |
35.542097 |
3,294.11 |
12/31/2017 |
|
|
28.972188 |
135,689.92 |
30.560289 |
325.648 |
31.385038 |
2,419.37 |
12/31/2016 |
|
|
24.278397 |
154,975.61 |
25.531497 |
296.326 |
26.180862 |
2,967.17 |
12/31/2015 |
|
|
25.809189 |
175,303.03 |
27.05888 |
268.766 |
27.705078 |
2,862.24 |
12/31/2014 |
|
|
24.990567 |
204,381.42 |
26.121057 |
262.736 |
26.704368 |
2,715.14 |
12/31/2013 |
|
|
18.281495 |
216,197.89 |
19.050535 |
240.525 |
19.446511 |
2,386.30 |
12/31/2012 |
|
|
15.95032 |
246,483.58 |
16.570592 |
159.151 |
16.889302 |
1,786.10 |
12/31/2011 |
|
|
16.923585 |
283,164.55 |
17.528415 |
171.426 |
17.83855 |
540.504 |
12/31/2010 |
|
|
Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund-Class 2 (Inception Date 5/1/2007) |
|
||||||
|
10.264855 |
171,573.433 |
10.668451 |
6,725.024 |
10.875397 |
15,168.083 |
12/31/2019 |
|
|
9.251479 |
178,695.90 |
9.586043 |
4,078.88 |
9.75721 |
18,369.57 |
12/31/2018 |
|
|
11.097317 |
175,116.16 |
11.463482 |
8,402.16 |
11.650395 |
21,132.28 |
12/31/2017 |
|
|
9.64447 |
187,878.44 |
9.932544 |
8,818.44 |
10.079276 |
22,818.08 |
12/31/2016 |
|
|
9.126476 |
186,457.60 |
9.370551 |
7,901.41 |
9.494583 |
23,418.09 |
12/31/2015 |
|
|
9.898727 |
191,584.81 |
10.132569 |
7,669.30 |
10.251136 |
23,830.25 |
12/31/2014 |
|
|
11.29689 |
156,645.43 |
11.528622 |
7,039.33 |
11.645851 |
22,140.69 |
12/31/2013 |
|
|
9.317125 |
118,926.20 |
9.479396 |
8,545.85 |
9.561306 |
16,586.39 |
12/31/2012 |
|
|
7.992835 |
109,755.48 |
8.107234 |
7,085.71 |
8.164847 |
4,309.98 |
12/31/2011 |
|
|
9.070806 |
119,643.53 |
9.172728 |
6,044.17 |
9.223947 |
1,710.63 |
12/31/2010 |
|
|
|
|
|
|
|
|
44 |
|
|
|
|
|
Number of |
Enhanced Group |
Number of |
|
|
|
|
Number of |
|
Enhanced Group |
|
|||
|
|
|
Enhanced |
with |
|
|||
|
Standard |
Standard |
Enhanced Group |
with |
|
|||
|
Group |
Administration |
|
|||||
|
Accumulation Unit |
Accumulation |
Accumulation |
Administration |
Year |
|||
|
Accumulation |
Charges Waived |
||||||
|
Value |
Units |
Unit Value |
Charges Waived |
|
|||
|
Units |
Accumulation |
|
|||||
|
|
Outstanding |
|
Accumulation |
|
|||
|
|
|
Outstanding |
Unit Value |
|
|||
|
|
|
|
Units Outstanding |
|
|||
|
|
|
|
|
|
|
||
|
Janus Aspen Series - Janus Henderson VIT Balanced Portfolio (formerly Janus Aspen Balanced Portfolio)-Institutional Shares (Inception |
|||||||
|
Date 7/15/1997) |
|
|
|
|
|
|
|
|
50.237201 |
658,117.437 |
53.761832 |
3,022.254 |
55.611749 |
7,393.794 |
12/31/2019 |
|
|
41.562245 |
754,440.92 |
44.343249 |
3,126.03 |
45.799674 |
7,194.11 |
12/31/2018 |
|
|
41.870467 |
839,278.19 |
44.535702 |
3,478.03 |
45.928416 |
8,659.01 |
12/31/2017 |
|
|
35.85483 |
943,221.86 |
38.021753 |
3,880.17 |
39.151623 |
10,396.77 |
12/31/2016 |
|
|
34.7638 |
984,117.32 |
36.752884 |
3,794.85 |
37.787773 |
9,745.24 |
12/31/2015 |
|
|
35.04005 |
1,086,286.62 |
36.932463 |
4,389.38 |
37.914925 |
9,638.05 |
12/31/2014 |
|
|
32.751293 |
1,208,062.46 |
34.415303 |
4,522.08 |
35.277339 |
8,889.45 |
12/31/2013 |
|
|
27.644471 |
1,306,046.95 |
28.960867 |
6,896.12 |
29.64137 |
4,520.71 |
12/31/2012 |
|
|
24.678 |
1,444,863.87 |
25.774254 |
7,375.21 |
26.339751 |
1,783.20 |
12/31/2011 |
|
|
24.624243 |
1,714,139.14 |
25.640208 |
8,743.80 |
26.163193 |
1,331.68 |
12/31/2010 |
|
|
Janus Aspen Series - Janus Henderson VIT Enterprise Portfolio (formerly Janus Aspen Enterprise Portfolio)-Institutional Shares (Inception |
|||||||
|
Date 7/15/1997) |
|
|
|
|
|
|
|
|
63.916347 |
297,765.524 |
68.402357 |
3,991.545 |
70.755833 |
2,607.484 |
12/31/2019 |
|
|
47.845738 |
320,396.22 |
51.048418 |
3,462.81 |
52.724921 |
2,655.35 |
12/31/2018 |
|
|
48.731111 |
352,734.87 |
51.834264 |
3,209.15 |
53.455067 |
3,474.38 |
12/31/2017 |
|
|
38.785445 |
379,152.47 |
41.130479 |
3,232.38 |
42.35262 |
3,465.44 |
12/31/2016 |
|
|
35.008152 |
412,474.16 |
37.01213 |
4,232.79 |
38.054229 |
3,770.35 |
12/31/2015 |
|
|
34.129797 |
449,247.76 |
35.973967 |
4,354.34 |
36.930852 |
3,905.63 |
12/31/2014 |
|
|
30.762138 |
508,249.50 |
32.325927 |
4,884.46 |
33.135553 |
3,925.46 |
12/31/2013 |
|
|
23.567783 |
547,374.23 |
24.690729 |
7,027.07 |
25.270845 |
2,249.53 |
12/31/2012 |
|
|
20.380175 |
598,482.93 |
21.286103 |
7,006.15 |
21.753081 |
922.766 |
12/31/2011 |
|
|
20.9668 |
671,167.59 |
21.832445 |
9,872.96 |
22.277708 |
362.17 |
12/31/2010 |
|
|
Janus Aspen Series - Janus Henderson VIT Forty Portfolio (formerly Janus Aspen Forty Portfolio)-Institutional Shares (Inception Date |
|||||||
|
5/1/1999) |
|
|
|
|
|
|
|
|
39.203424 |
337,223.241 |
41.731416 |
449.315 |
43.053127 |
2,400.923 |
12/31/2019 |
|
|
28.987812 |
422,998.90 |
30.763414 |
1,598.48 |
31.689713 |
2,887.91 |
12/31/2018 |
|
|
28.830087 |
459,834.28 |
30.502599 |
1,949.44 |
31.373209 |
2,222.64 |
12/31/2017 |
|
|
22.436185 |
516,603.31 |
23.665961 |
2,191.18 |
24.304739 |
2,099.22 |
12/31/2016 |
|
|
22.265938 |
575,448.89 |
23.415082 |
3,927.36 |
24.010678 |
2,135.18 |
12/31/2015 |
|
|
20.122905 |
635,797.97 |
21.09721 |
3,552.58 |
21.601115 |
2,292.79 |
12/31/2014 |
|
|
18.769594 |
708,645.86 |
19.618655 |
4,437.77 |
20.056834 |
2,046.21 |
12/31/2013 |
|
|
14.506123 |
802,313.68 |
15.116322 |
4,618.96 |
15.430571 |
1,291.44 |
12/31/2012 |
|
|
11.850045 |
871,789.68 |
12.310863 |
5,220.83 |
12.54768 |
1,178.26 |
12/31/2011 |
|
|
12.880192 |
1,049,746.28 |
13.340517 |
5,354.46 |
13.576596 |
979.346 |
12/31/2010 |
|
|
Janus Aspen Series - Janus Henderson VIT Overseas Portfolio (formerly Janus Aspen Overseas Portfolio-Institutional Shares (Inception |
|||||||
|
Date 7/15/1997) |
|
|
|
|
|
|
|
|
29.787333 |
347,971.018 |
31.877889 |
5,643.485 |
32.975029 |
6,009.753 |
12/31/2019 |
|
|
23.784192 |
401,820.98 |
25.376189 |
6,055.92 |
26.20984 |
7,068.39 |
12/31/2018 |
|
|
28.362 |
431,185.19 |
30.167939 |
9,603.77 |
31.111525 |
8,403.48 |
12/31/2017 |
|
|
21.936749 |
470,766.87 |
23.262993 |
9,986.74 |
23.954431 |
10,709.11 |
12/31/2016 |
|
|
23.782795 |
535,162.79 |
25.144034 |
9,327.44 |
25.852174 |
10,053.75 |
12/31/2015 |
|
|
26.387645 |
557,774.26 |
27.813167 |
9,077.83 |
28.55314 |
10,440.69 |
12/31/2014 |
|
|
30.36825 |
598,121.57 |
31.91152 |
8,228.21 |
32.710883 |
9,239.06 |
12/31/2013 |
|
|
26.884279 |
691,417.79 |
28.164764 |
10,314.59 |
28.826598 |
8,726.24 |
12/31/2012 |
|
|
24.031504 |
779,936.82 |
25.099252 |
9,472.30 |
25.649952 |
7,488.18 |
12/31/2011 |
|
|
35.931621 |
883,475.81 |
37.414177 |
9,276.51 |
38.177207 |
4,371.50 |
12/31/2010 |
|
|
Janus Aspen Series - Janus Henderson VIT Research Portfolio (formerly Janus Aspen Janus Portfolio)-Institutional Shares (Inception Date |
|||||||
|
7/15/1997) |
|
|
|
|
|
|
|
|
35.541487 |
370,651.843 |
38.035639 |
2,758.670 |
39.345238 |
3.891 |
12/31/2019 |
|
|
26.598301 |
409,651.95 |
28.378476 |
2,758.67 |
29.311157 |
585.675 |
12/31/2018 |
|
|
27.691766 |
447,840.40 |
29.454874 |
2,886.92 |
30.376597 |
3.891 |
12/31/2017 |
|
|
21.960972 |
503,685.23 |
23.288552 |
2,960.02 |
23.981102 |
3.891 |
12/31/2016 |
|
|
22.161871 |
570,784.25 |
23.430257 |
3,238.18 |
24.090494 |
3.891 |
12/31/2015 |
|
|
|
|
|
|
|
|
45 |
|
|
|
|
|
Number of |
Enhanced Group |
Number of |
|
|
|
|
Number of |
|
Enhanced Group |
|
|||
|
|
|
Enhanced |
with |
|
|||
|
Standard |
Standard |
Enhanced Group |
with |
|
|||
|
Group |
Administration |
|
|||||
|
Accumulation Unit |
Accumulation |
Accumulation |
Administration |
Year |
|||
|
Accumulation |
Charges Waived |
||||||
|
Value |
Units |
Unit Value |
Charges Waived |
|
|||
|
Units |
Accumulation |
|
|||||
|
|
Outstanding |
|
Accumulation |
|
|||
|
|
|
Outstanding |
Unit Value |
|
|||
|
|
|
|
Units Outstanding |
|
|||
|
|
|
|
|
|
|
||
|
21.336089 |
634,922.89 |
22.488724 |
3,241.98 |
23.087439 |
3.891 |
12/31/2014 |
|
|
19.150539 |
727,456.51 |
20.123843 |
3,246.02 |
20.62834 |
3.892 |
12/31/2013 |
|
|
14.901656 |
831,345.77 |
15.61151 |
4,620.04 |
15.978674 |
3.892 |
12/31/2012 |
|
|
12.745249 |
938,110.84 |
13.31167 |
4,547.78 |
13.604019 |
3.892 |
12/31/2011 |
|
|
13.649497 |
1,051,736.56 |
14.212905 |
5,323.78 |
14.503094 |
3.892 |
12/31/2010 |
|
|
Morgan Stanley Variable Insurance Fund, Inc. - Core Plus Fixed Income Portfolio-Class I (Inception Date 7/15/1997) |
|
||||||
|
21.298913 |
153,512.053 |
22.793257 |
4,456.657 |
23.577844 |
4,628.508 |
12/31/2019 |
|
|
19.481582 |
161,756.30 |
20.785134 |
4,471.20 |
21.468063 |
4,521.84 |
12/31/2018 |
|
|
19.889271 |
162,435.19 |
21.155328 |
4,806.27 |
21.817153 |
4,623.72 |
12/31/2017 |
|
|
18.985675 |
200,324.69 |
20.133092 |
4,801.81 |
20.731592 |
6,419.22 |
12/31/2016 |
|
|
18.146371 |
230,703.64 |
19.184658 |
5,189.61 |
19.725069 |
6,452.26 |
12/31/2015 |
|
|
18.524574 |
263,086.06 |
19.525049 |
6,579.57 |
20.044656 |
6,597.11 |
12/31/2014 |
|
|
17.419293 |
317,604.08 |
18.304351 |
6,181.49 |
18.763025 |
6,914.74 |
12/31/2013 |
|
|
17.722742 |
373,704.36 |
18.566669 |
6,034.86 |
19.003105 |
5,533.68 |
12/31/2012 |
|
|
16.425104 |
438,941.37 |
17.154729 |
5,407.69 |
17.531258 |
3,502.31 |
12/31/2011 |
|
|
15.767295 |
498,734.94 |
16.417846 |
5,244.20 |
16.752885 |
2,502.39 |
12/31/2010 |
|
|
Morgan Stanley Variable Insurance Fund, Inc. - Discovery Portfolio (formerly Mid Cap Growth Portfolio) - Class I (Inception Date 5/1/2007) |
|||||||
|
27.563176 |
41,249.693 |
28.646710 |
176.699 |
29.202282 |
2,097.071 |
12/31/2019 |
|
|
19.951868 |
56,659.32 |
20.673271 |
188.446 |
21.042312 |
2,953.92 |
12/31/2018 |
|
|
18.289057 |
45,040.41 |
18.892449 |
188.699 |
19.200424 |
3,224.33 |
12/31/2017 |
|
|
13.366633 |
46,879.36 |
13.765876 |
153.406 |
13.969191 |
3,850.82 |
12/31/2016 |
|
|
14.861452 |
52,804.64 |
15.258862 |
153.395 |
15.460786 |
3,993.82 |
12/31/2015 |
|
|
16.017087 |
68,601.74 |
16.395445 |
147.231 |
16.58725 |
4,824.58 |
12/31/2014 |
|
|
15.931061 |
71,334.31 |
16.25786 |
125.333 |
16.423162 |
4,632.61 |
12/31/2013 |
|
|
11.751763 |
119,005.74 |
11.956464 |
508.836 |
12.059774 |
2,814.20 |
12/31/2012 |
|
|
10.966476 |
145,923.09 |
11.123435 |
474.836 |
11.202473 |
1,603.99 |
12/31/2011 |
|
|
11.974622 |
79,274.64 |
12.109183 |
438.289 |
12.176797 |
128.432 |
12/31/2010 |
|
|
Morgan Stanley Variable Insurance Fund, Inc. - U.S. Real Estate Portfolio-Class I (Inception Date 7/15/1997) |
|
||||||
|
52.664447 |
117,009.067 |
56.359998 |
2,214.279 |
58.300107 |
1,797.173 |
12/31/2019 |
|
|
44.907529 |
125,777.94 |
47.912883 |
1,906.15 |
49.487207 |
2,358.96 |
12/31/2018 |
|
|
49.357024 |
136,960.26 |
52.499268 |
2,940.08 |
54.141702 |
3,013.91 |
12/31/2017 |
|
|
48.546479 |
157,534.52 |
51.480851 |
3,047.73 |
53.011311 |
3,262.50 |
12/31/2016 |
|
|
46.094893 |
175,472.63 |
48.732837 |
3,159.55 |
50.105719 |
3,245.92 |
12/31/2015 |
|
|
45.756354 |
199,452.59 |
48.228074 |
3,345.18 |
49.511686 |
3,372.64 |
12/31/2014 |
|
|
35.773176 |
233,162.55 |
37.591278 |
3,255.36 |
38.533446 |
3,404.65 |
12/31/2013 |
|
|
35.551082 |
257,201.98 |
37.24445 |
3,695.38 |
38.120131 |
2,517.33 |
12/31/2012 |
|
|
31.128766 |
275,350.85 |
32.51201 |
3,613.93 |
33.225818 |
1,376.92 |
12/31/2011 |
|
|
29.80536 |
300,625.24 |
31.035542 |
3,459.34 |
31.669046 |
804.593 |
12/31/2010 |
|
|
PIMCO Variable Insurance Trust - PIMCO Real Return Portfolio-Administrative Class (Inception Date 12/1/2004) |
|
||||||
|
14.234304 |
91,714.755 |
14.902685 |
1,471.610 |
15.247334 |
8,703.078 |
12/31/2019 |
|
|
13.312089 |
134,917.51 |
13.894863 |
1,521.93 |
14.194678 |
8,131.84 |
12/31/2018 |
|
|
13.807321 |
141,881.22 |
14.367768 |
2,413.91 |
14.655446 |
8,506.32 |
12/31/2017 |
|
|
13.508521 |
142,198.72 |
14.014283 |
2,390.49 |
14.273302 |
7,771.31 |
12/31/2016 |
|
|
13.023155 |
159,992.77 |
13.469735 |
1,889.88 |
13.697926 |
7,945.23 |
12/31/2015 |
|
|
13.575379 |
196,998.82 |
13.998243 |
1,761.76 |
14.213831 |
7,940.27 |
12/31/2014 |
|
|
13.35411 |
244,655.41 |
13.728272 |
1,549.69 |
13.918604 |
7,110.12 |
12/31/2013 |
|
|
14.918978 |
329,750.94 |
15.290396 |
1,968.06 |
15.478914 |
6,831.62 |
12/31/2012 |
|
|
13.912909 |
371,829.09 |
14.215772 |
1,750.07 |
14.369148 |
4,133.48 |
12/31/2011 |
|
|
12.634272 |
431,883.40 |
12.870229 |
1,891.97 |
12.989457 |
1,677.86 |
12/31/2010 |
|
|
PIMCO Variable Insurance Trust - PIMCO Total Return Portfolio-Administrative Class (Inception Date 12/1/2004) |
|
||||||
|
16.508614 |
206,053.199 |
17.283755 |
15,637.051 |
17.683424 |
31,577.475 |
12/31/2019 |
|
|
15.449792 |
218,528.47 |
16.126115 |
13,787.98 |
16.47405 |
35,966.51 |
12/31/2018 |
|
|
15.75495 |
251,448.33 |
16.394441 |
15,337.90 |
16.722669 |
41,122.00 |
12/31/2017 |
|
|
15.228947 |
273,012.46 |
15.799113 |
14,401.15 |
16.09111 |
48,248.50 |
12/31/2016 |
|
|
15.041825 |
298,992.66 |
15.557615 |
15,111.67 |
15.821161 |
48,163.13 |
12/31/2015 |
|
46
|
|
|
|
Number of |
|
Enhanced Group |
Number of |
|
|
|
Number of |
|
|
Enhanced Group |
|
||
|
|
|
Enhanced |
|
with |
|
||
|
Standard |
Standard |
Enhanced Group |
|
with |
|
||
|
Group |
|
Administration |
|
||||
|
Accumulation Unit |
Accumulation |
Accumulation |
|
Administration |
Year |
||
|
Accumulation |
|
Charges Waived |
|||||
|
Value |
Units |
Unit Value |
|
Charges Waived |
|
||
|
Units |
|
Accumulation |
|
||||
|
|
Outstanding |
|
|
Accumulation |
|
||
|
|
|
Outstanding |
|
Unit Value |
|
||
|
|
|
|
|
Units Outstanding |
|
||
|
|
|
|
|
|
|
|
|
|
15.186995 |
326,594.49 |
15.66007 |
16,257.20 |
|
15.901249 |
57,309.35 |
12/31/2014 |
|
14.77011 |
372,789.36 |
15.183974 |
14,959.53 |
|
15.394474 |
60,481.45 |
12/31/2013 |
|
15.279607 |
437,458.14 |
15.660052 |
13,507.84 |
|
15.853109 |
53,491.94 |
12/31/2012 |
|
14.139882 |
453,654.59 |
14.447732 |
11,199.44 |
|
14.603585 |
21,810.82 |
12/31/2011 |
|
13.840269 |
553,959.72 |
14.098775 |
10,277.05 |
|
14.229361 |
10,999.90 |
12/31/2010 |
|
Wilshire Variable Insurance Trust - Wilshire Global Allocation Fund (Inception Date 12/7/2018) |
|
|
|
||||
|
11.044006 |
51,685.711 |
11.080229 |
1,172.013 |
|
11.098305 |
0.000 |
12/31/2019 |
|
9.458526 |
61,538.46 |
9.460738 |
1,307.38 |
|
9,461.84 |
0.000 |
12/31/2018 |
The above table gives year-end Accumulation Unit information for each Subaccount for the past 10 fiscal years (or the effective date of the Subaccount, if later) to December 31, 2019. This information should be read in conjunction with the Separate Account financial statements including the notes to those statements. The beginning Accumulation Unit Value for the BNY Mellon Variable Investment Fund Government Money Market Portfolio (formerly Dreyfus VIF Government Money Market Portfolio) Subaccount was 1.000000 as of its inception date. The beginning Accumulation Unit Value for each other Subaccount was 10.000000 as of its inception date. If you have invested in a Subaccount that is closed to new investors, the condensed financial information for the Subaccount will be contained in Appendix D: Closed Subaccounts.
47
APPENDIX B: TRANSFER RESTRICTIONS
Restrictions on Transfers; Disruptive Trading, Market Timing and Frequent Transfers. We discourage (and will take action to deter) short-term trading in the Contracts because the frequent movement between or among Subaccounts may negatively impact other Contract Owners, Annuitants and Beneficiaries. Short-term trading can result in: (1) the dilution of Accumulation Unit Values or Portfolio net asset values; (2) Portfolio advisors taking actions that negatively impact performance such as keeping a larger portion of the Portfolio assets in cash or liquidating investments prematurely in order to support redemption requests; and (3) increased administrative costs due to frequent purchases and redemptions To help protect Contract Owners, Annuitants and Beneficiaries from the negative impact of these practices, we have implemented several processes and/or restrictions aimed at eliminating the negative impact of active trading strategies. There is no guarantee that we will be able to detect harmful trading practices, or, if it is detected, to prevent recurrences.
U.S. Mail Restrictions on Persons Engaged in Harmful Trading Practices. We monitor transfer activity in order to identify those who may be engaged in harmful trading practices and we produce and examine transaction reports. Generally, a Contract may appear on these reports if the Contract Owner (or a third party acting on their behalf) engages in a certain number of "transfer events" in a given period. A "transfer event" is any transfer, or combination of transfers, occurring on a given trading day (Valuation Date). For example, multiple transfers by a Contract Owner involving 10 underlying Portfolios in one day count as one transfer event. A single transfer occurring on a given trading day and involving only 2 underlying Portfolios (or one underlying Portfolio if the transfer is made to or from the Fixed Account options) will also count as one transfer event. A transfer event would not include a transfer made pursuant to one of the automatic transfer programs such as dollar cost averaging, portfolio rebalancing and interest sweep.
As a result of this monitoring process, we may restrict the method of communication by which transfer requests will be accepted. In general, we will adhere to the following guidelines.
|
Trading Behavior |
Our Response |
|
6 or more transfer events in one |
We will mail a letter to the Contract Owner notifying the Contract Owner that: |
|
quarter of a contract year |
∙ we have identified the Contract Owner as a person engaging in harmful trading practices; |
|
|
and |
|
|
∙ if the Contract Owner's transfer events exceed 12 in one contract year, we will |
|
|
automatically require the Contract Owner to submit transfer requests via regular first-class |
|
|
U.S. mail and we will not accept transfer requests from the Contract Owner that are sent |
|
|
by other means such as electronic means or overnight, priority or courier delivery. |
|
More than 12 transfer events in |
We will automatically require the Contract Owner to submit transfer requests via regular first- |
|
one contract year |
class U.S. mail and we will not accept transfer requests from the Contract Owner that are sent |
|
|
by any other means. |
On each Contract anniversary, we will start the monitoring anew, so that each Contract starts with zero transfer events the first day of each new contract year. See, however, the "Other Restrictions" provision below.
U.S Mail Restrictions on Managers of Multiple Contracts. Some investment advisors/representatives manage the assets of multiple Contracts pursuant to trading authority granted or conveyed by multiple Contract Owners. We generally will require these multi-contract advisors to submit all transfers requests via regular first-class U.S. mail.
The Company may permit a manager of multiple contracts to submit transfer requests other than by mail upon written request if contracts are managed independently rather than in the aggregate. The manager of multiple contracts must provide the Company with sufficient information regarding the management methodology to support the representation that aggregate transfers will not be an intended or unintended consequence of day to day management decisions. The Company will monitor the contracts associated with the grant of any exception and, in the event a pattern of aggregate transactions emerges, again require transfer request via U.S. mail.
Other Restrictions. We reserve the right to refuse or limit transfer requests, or take any other action we deem necessary, in order to protect Contract Owners, Annuitants, and Beneficiaries from the negative investment results that may result from short-term trading or other harmful investment practices employed by some Contract Owners (or third parties acting on their behalf). In particular, trading strategies designed to avoid or take advantage of our monitoring procedures (and other measures aimed at curbing harmful trading practices) that are nevertheless determined by us to constitute harmful trading practices, may be restricted. We will consider the following factors:
∙the dollar amount involved in the transfer event
∙the total assets of the Portfolio involved in the transfer event
∙the number of transfer events completed in the current quarter of the contract year
∙whether the transfer event is part of a pattern of transfer events designed to take advantage of short-term market fluctuations or market efficiencies
In addition, the Portfolios reserve the right, in their sole discretion and without prior notice, to reject, restrict or refuse purchase orders received from insurance company separate accounts that the Portfolios determine not to be in the best interest of their shareholders. We will apply such rejections, restrictions or refusals by the Portfolios uniformly and without exception.
48
The restrictions discussed above are designed to prevent harmful trading practices. Despite such transfer restrictions, there is a risk that such harmful trading practices could still occur. If we determine our goal of curtailing harmful trading practices is not being fulfilled, we may amend or replace the procedures described above without prior notice. We will consider waiving the procedures described above for unanticipated financial emergencies; for example, if extent economic conditions arise such that the impact of short-term trading is benign or a positive, the Company may allow it.
Information Sharing. As required by Rule 22c-2 under the Investment Company Act of 1940, we have entered into information sharing agreements with Portfolio companies. Under the terms of these agreements, we are required, if requested by a Portfolio company:
∙To provide Contract owner information and information about transactions in the Portfolio shares during a specified period; and
∙To prohibit or restrict further purchases or exchanges by a Contract owner if the Portfolio company identifies the Contract owner as a person who has engaged in trading that violated the Portfolio company's frequent trading policies.
Group Contracts. In the case of a group contract, the transfer restrictions will apply to participants who have an interest in the group contract. For example, if a participant engages in more than 12 transfer events in one Contract year, we will automatically require the participant to submit transfer requests via regular first-class U.S. mail and we will not accept transfer requests from the participant that are sent by any other means.
49
APPENDIX C: DEATH BENEFIT AMOUNT (VERSION 2E)
This Appendix C provides information you should know regarding the Death Benefit Amount if one of the scenarios described below applies to your Contract.
Scenario E-1
∙Your state of residence was Minnesota when you purchased your Contract;
∙you purchased an individual Contract before August 7, 2003 but after the 2000 Death Benefit Endorsement was approved in Minnesota; and
∙you elected the optional Enhanced Death Benefit Amount before the Contract was issued.
Scenario E-2
∙Your state of residence was any state other than Minnesota when you purchased your Contract;
∙you purchased an individual Contract before the 2003 Death Benefit Endorsement was approved in your state of residence but after the 2000 Death Benefit Endorsement was approved in your state; and
∙you elected the optional Enhanced Death Benefit Amount before the Contract was issued.
In this Appendix C, we refer to the Contracts described in Scenarios E-1 and E-2 as "Optional Death Benefit Contracts."
EXPENSE TABLES
For Optional Death Benefit Contracts, the following information replaces Table B and the Examples contained in the body of the prospectus.
Table B: Annual Expenses. The next table describes the fees and expenses that you will pay periodically during the time that you own the Contract, not including Portfolio fees and expenses. Separate Account annual expenses are shown as a percentage of the average value of the Owner's interest in the Subaccounts.
|
|
Optional Death Benefit Contracts |
Optional Death Benefit Contracts |
|
|
(Issue Age 65 and younger) |
(Issue Age over 65 and under 79) |
|
Annual Contract Maintenance Fee |
$30 |
$30 |
|
Separate Account Annual Expenses |
|
|
|
Mortality and Expense Risk Charge |
1.35% |
1.50% |
|
Administration Charge |
0.15% |
0.15% |
|
Total Separate Account Annual Expenses |
1.50% |
1.65% |
If you surrender your Contract, we will apply the contract maintenance fee at that time.
Examples. This example is intended to help you compare the cost of investing in an Optional Death Benefit Contract with the cost of investing in other variable annuity contracts. These costs include the Contract Owner transaction expenses (Table A of the prospectus), the Annual Expenses (Table B above), and Portfolio operating expenses (Table C of the prospectus). Your actual costs may be higher or lower than the costs shown in the examples.
Example: Contract with Highest Possible Separate Account Charges
Assumptions
∙You purchased an Optional Death Benefit Contract when you were over age 65, you invest $10,000 in the Contract for the periods indicated, and your investment has a 5% return each year.
∙The annual contract maintenance fee ($30), the Separate Account Annual Expenses (1.65%), and the maximum Portfolio expenses (1.60%) are incurred.
By comparing the costs shown in the tables below, you can see the impact of contingent deferred sales charges on your costs.
|
|
1 year |
3 years |
5 years |
10 years |
|
We assume that you surrender your Contract at the end of the period. We |
$1,063 |
$1,659 |
$2,355 |
$4,812 |
|
also assume that the applicable contingent deferred sales charge is |
|
|
|
|
|
incurred. In this case, your costs would be: |
|
|
|
|
|
We assume that you keep your Contract and leave your money in your |
$363 |
$1,159 |
$2,055 |
$4,812 |
|
Contract for the entire period or you annuitize your Contract at the end of |
|
|
|
|
|
the period. The contingent deferred sales charge does not apply in these |
|
|
|
|
|
situations. In this case, your costs would be: |
|
|
|
|
50
CHARGES AND DEDUCTIONS
For Optional Death Benefit Contracts, the following information replaces the Mortality and Expense Risk Charge information contained in the body of the prospectus.
If you elected the optional Enhanced Death Benefit Amount, there is an additional charge for this benefit. This additional charge is included in the mortality and expense risk charge described below. This benefit and the associated additional charge cannot be discontinued after the Contract is issued.
|
Mortality and Expense |
Purpose of Charge: Compensation for bearing certain mortality and expense risks under the Contract. |
|
Risk Charge |
Mortality risks arise from the Company's obligation to pay benefit payments during the Benefit Payment |
|
|
Period and to pay the death benefit. The expense risk assumed by the Company is the risk that the |
|
|
Company's actual expenses in administering the Contracts and the Separate Account will exceed the |
|
|
amount recovered through the contract maintenance fees, transfer fees and administration charges. |
|
|
This Mortality and Expense Risk Charge includes an additional charge for the Optional Enhanced |
|
|
Death Benefit Amount. |
|
Amount of Charge |
For Optional Death Benefit Contracts issued to an Owner age 65 or younger, a daily charge equal to |
|
|
0.003724% of the daily Net Asset Value for each Subaccount, which corresponds to an effective annual |
|
|
rate of 1.35%. |
|
|
For Optional Death Benefit Contracts issued to an Owner over age 65 but under age 79, a daily charge |
|
|
equal to 0.004141% of the daily Net Asset Value for each Subaccount, which corresponds to an |
|
|
effective annual rate of 1.50. |
|
When Assessed |
During the Accumulation Period, and during the Benefit Payment Period if a variable dollar benefit is |
|
|
elected, the charge is deducted from amounts invested in the Subaccounts. |
|
Waivers |
None. |
DEATH BENEFIT
For Optional Death Benefit Contracts, the following information replaces the Death Benefit Amount information contained in the body of the prospectus.
Optional Enhanced Death Benefit Amount (Version 2E)
The optional Enhanced Death Benefit Amount will be based on the greatest of:
1)the Account Value on the Death Benefit Valuation Date;
2)the Enhanced Minimum Death Benefit; or
3)the Enhanced Historic High Value.
A withdrawal from the Contract may result in a reduction in the Death Benefit that is greater than the amount of the withdrawal. The Death Benefit Amount will be reduced by any applicable premium tax or other tax not previously deducted. It will also be reduced by any outstanding loans.
The death benefit will be allocated among the Subaccounts and Fixed Accounts options. This allocation will occur as of the Death Benefit Valuation Date. It will be made in the same proportion as the value of each option bears to the total Account Value immediately before that date.
Unless transferred by the Beneficiary, the portion of the Death Benefit Amount allocated to the Subaccounts will remain in those Subaccounts until the Death Benefit Commencement Date.
The Death Benefit Amount under this Contract will be finally determined using the Account Value on the Death Benefit Commencement Date. If the Death Benefit Commencement Date is later than the Death Benefit Valuation Date, the Death Benefit amount may be lower than the amount calculated on the Death Benefit Valuation Date.
Enhanced Minimum Death Benefit. The Enhanced Minimum Death Benefit is equal to total Purchase Payments, reduced proportionally for partial surrenders, and increased by interest. This reduction will be in the same proportion that the Account Value was reduced on the date of the partial surrender.
∙If the Owner dies before age 80, interest compounds daily, at an effective annual interest rate of 5%, to the Death Benefit Valuation Date.
∙If the Owner dies on or after his or her 80th birthday, interest compounds daily, at an effective annual interest rate of 5%, to the Contract anniversary prior to his or her 80th birthday.
Enhanced Historic High Value. The Enhanced Historic High Value is equal to the Enhanced High Value, reduced proportionally for withdrawals taken after that Enhanced High Value was reached. This reduction will be in the same proportion that the Account Value was reduced on the date of withdrawal. The Enhanced High Value is the largest Account Value on any Contract anniversary before the Death Benefit Valuation Date and prior to age 80.
51
Example of Determination of Optional Enhanced Death Benefit Amount for Version 2E. This example is intended to help you understand how a withdrawal impacts the optional Enhanced Death Benefit Amount and how the optional Enhanced Death Benefit Amount is calculated.
This example assumes:
∙your total Purchase Payments equal $100,000 and your Account Value is $90,000,
∙the "Enhanced High Value" is $140,000,
∙you withdraw $10,000 from the Contract, and you are left with an Account Value of $80,000; and
∙the Death Benefit Commencement Date is not after the Death Benefit Valuation Date.
It also assumes that, for purposes of calculating the optional Enhanced Death Benefit Amount, total Purchase Payments will be increased by interest in the amount of $107,893, which represents interest at an annual effective rate of 5% for 10 years.
Step One: Calculate the proportional reduction in the Purchase Payment amount.
|
1 – |
$80,000 |
Account Value immediately after withdrawal |
|
= 11.1111% |
Percentage |
|||
|
$90,000 |
Account Value immediately before withdrawal |
|
Reduction |
|||||
|
|
|
|
||||||
|
$100,000 |
Purchase |
x 11.1111% |
Percentage |
= $11,111 |
Proportional |
|
||
|
Payments |
Reduction |
Reduction |
|
|||||
|
|
|
|
|
|
||||
Step Two: Calculate the Enhanced Minimum Death Benefit (reduced Purchase Payment amount, increased by interest).
|
Purchase Payments |
$100,000 |
|
Less proportional reduction for withdrawals |
– 11,111 |
|
Purchase Payments reduced for withdrawals |
88,889 |
|
Plus interest |
+ 107,893 |
|
Minimum Death Benefit |
$196,782 |
Step Three: Calculate the proportional reduction in the Enhanced High Value.
|
1 – |
$80,000 |
Account Value immediately after withdrawal |
|
= 11.1111% |
Percentage |
|||
|
$90,000 |
Account Value immediately before withdrawal |
|
Reduction |
|||||
|
|
|
|
||||||
|
$140,000 |
Enhanced |
x 11.1111% |
Percentage |
= $15,556 |
Proportional |
|
||
|
High Value |
Reduction |
Reduction |
|
|||||
|
|
|
|
|
|
||||
Step Four: Calculate the Enhanced Historic High Value amount, which is the same as the reduced High Value amount.
|
Enhanced High Value |
$140,000 |
|
Less proportional reduction for withdrawals |
– 15,556 |
|
Enhanced Historic High Value |
$124,444 |
Step Five: Determine the Death Benefit amount.
Immediately after the withdrawal, the applicable amounts are:
|
∙ |
Account Value |
$80,000 |
|
∙ Enhanced Minimum Death Benefit |
$196,782 |
|
|
∙ |
Enhanced Historic High Value |
$124,444 |
Immediately after the withdrawal, the Enhanced Minimum Death Benefit of $196,782 is greater than the Enhanced Historic High Value of $124,444 and the Account Value of $80,000, so the Death Benefit amount would be $196,782.
52
CONDENSED FINANCIALS FOR CONTRACTS WITH ENHANCED OPTIONAL DEATH BENEFIT RIDER
|
Optional Death Benefit |
Number of Optional Death |
Optional Death Benefit |
Number of Optional |
|
|
|
Benefit (issue age 65 and |
Death Benefit (issue |
|
|||
|
(issue age 65 and younger) |
(issue age over 65/under |
|
|||
|
younger) |
age over 65/under 79) |
Year |
|||
|
Accumulation |
79) Accumulation Unit |
||||
|
Accumulation |
Accumulation |
|
|||
|
Unit Value |
Value |
|
|||
|
Units Outstanding |
Units Outstanding |
|
|||
|
|
|
|
|||
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco Oppenheimer V.I. Capital Appreciation Fund (formerly |
|||||
|
Oppenheimer Capital Appreciation Fund/VA) - Non-Service Shares (Inception Date 5/1/2001) |
|
||||
|
25.551382 |
0 |
24.971189 |
0 |
12/31/2019 |
|
|
19.046399 |
0 |
18.642262 |
0 |
12/31/2018 |
|
|
20.513442 |
0 |
20.108948 |
0 |
12/31/2017 |
|
|
16.419091 |
0 |
16.119759 |
0 |
12/31/2016 |
|
|
17.044567 |
0 |
16.75931 |
0 |
12/31/2015 |
|
|
16.711931 |
0 |
16.45728 |
0 |
12/31/2014 |
|
|
14.701129 |
0 |
14.499162 |
0 |
12/31/2013 |
|
|
11.503793 |
0 |
11.363025 |
0 |
12/31/2012 |
|
|
10.234898 |
0 |
10.125132 |
0 |
12/31/2011 |
|
|
10.511249 |
0 |
10.414325 |
0 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco Oppenheimer V.I. Conservative Balanced Fund (formerly |
|||||
|
Oppenheimer Conservative Balanced Fund/VA) - Non-Service Shares (Inception Date 12/1/2004) |
|
||||
|
13.659677 |
0 |
13.349520 |
0 |
12/31/2019 |
|
|
11.800805 |
0 |
11.550407 |
0 |
12/31/2018 |
|
|
12.655076 |
0 |
12.405521 |
0 |
12/31/2017 |
|
|
11.759289 |
0 |
11.544903 |
0 |
12/31/2016 |
|
|
11.341834 |
0 |
11.152015 |
0 |
12/31/2015 |
|
|
11.419602 |
0 |
11.245583 |
0 |
12/31/2014 |
|
|
10.715102 |
456.657 |
10.567892 |
0 |
12/31/2013 |
|
|
9.612383 |
456.657 |
9.494758 |
0 |
12/31/2012 |
|
|
8.687427 |
457.186 |
8.594256 |
0 |
12/31/2011 |
|
|
8.756402 |
1,007.04 |
8.675646 |
0 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund (formerly |
|||||
|
Invesco V.I. Mid Cap Growth Fund) - Series I Shares (Inception Date 5/1/2012) |
|
|
|||
|
20.617090 |
0.833 |
20.377335 |
0 |
12/31/2019 |
|
|
15.580617 |
2.111 |
15.422885 |
0 |
12/31/2018 |
|
|
16.754645 |
1,295.50 |
16.610465 |
0 |
12/31/2017 |
|
|
13.885912 |
1,621.18 |
13.787322 |
0 |
12/31/2016 |
|
|
13.991782 |
1,828.27 |
13.913601 |
0 |
12/31/2015 |
|
|
14.03564 |
2,916.38 |
13.978479 |
0 |
12/31/2014 |
|
|
13.189388 |
2,772.01 |
13.1557 |
0 |
12/31/2013 |
|
|
9.772763 |
2,392.54 |
9.76263 |
0 |
12/31/2012 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco Oppenheimer V.I. Main Street Fund® (formerly Oppenheimer |
|||||
|
Main Street Fund®/VA) - Non-Service Shares (Inception Date 12/1/2004) |
|
|
|||
|
26.911025 |
0 |
26.299883 |
0 |
12/31/2019 |
|
|
20.684924 |
0 |
20.245959 |
0 |
12/31/2018 |
|
|
22.799801 |
0 |
22.35016 |
0 |
12/31/2017 |
|
|
19.798232 |
0 |
19.437255 |
0 |
12/31/2016 |
|
|
18.007781 |
0 |
17.706365 |
0 |
12/31/2015 |
|
|
17.693109 |
0 |
17.423456 |
0 |
12/31/2014 |
|
|
16.225883 |
0 |
16.002921 |
0 |
12/31/2013 |
|
|
12.500898 |
811.581 |
12.347889 |
0 |
12/31/2012 |
|
|
10.859984 |
811.581 |
10.743481 |
0 |
12/31/2011 |
|
|
11.026628 |
832.322 |
10.924908 |
0 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. American Value Fund-Series I Shares (Inception Date |
|||||
|
7/15/1997) |
|
|
|
|
|
|
44.648071 |
0.684 |
43.159368 |
0 |
12/31/2019 |
|
|
36.254761 |
1.733 |
35.099284 |
0 |
12/31/2018 |
|
|
42.140453 |
2.767 |
40.859928 |
0 |
12/31/2017 |
|
|
38.904298 |
3.695 |
37.779386 |
0 |
12/31/2016 |
|
|
34.197913 |
120.661 |
33.259669 |
0 |
12/31/2015 |
|
|
38.205863 |
274.424 |
37.214289 |
0 |
12/31/2014 |
|
|
35.341722 |
279.549 |
34.476918 |
414.531 |
12/31/2013 |
|
|
26.72272 |
669.284 |
26.108494 |
415.08 |
12/31/2012 |
|
|
|
|
|
|
53 |
|
|
Optional Death Benefit |
Number of Optional Death |
Optional Death Benefit |
Number of Optional |
|
|
|
Benefit (issue age 65 and |
Death Benefit (issue |
|
|||
|
(issue age 65 and younger) |
(issue age over 65/under |
|
|||
|
younger) |
age over 65/under 79) |
Year |
|||
|
Accumulation |
79) Accumulation Unit |
||||
|
Accumulation |
Accumulation |
|
|||
|
Unit Value |
Value |
|
|||
|
Units Outstanding |
Units Outstanding |
|
|||
|
|
|
|
|||
|
23.129074 |
1,106.79 |
22.632046 |
415.706 |
12/31/2011 |
|
|
23.266279 |
1,106.62 |
22.800917 |
416.342 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Comstock Fund-Series I Shares (Inception Date 5/1/2011) |
|||||
|
19.987709 |
275.239 |
19.725267 |
0 |
12/31/2019 |
|
|
16.194564 |
285.079 |
16.006251 |
0 |
12/31/2018 |
|
|
18.719649 |
299.325 |
18.530329 |
0 |
12/31/2017 |
|
|
16.125254 |
309.79 |
15.98641 |
0 |
12/31/2016 |
|
|
13.956601 |
321.387 |
13.85751 |
0 |
12/31/2015 |
|
|
15.070696 |
322.109 |
14.986498 |
0 |
12/31/2014 |
|
|
13.987366 |
791.135 |
13.930415 |
0 |
12/31/2013 |
|
|
10.443398 |
791.919 |
10.416708 |
0 |
12/31/2012 |
|
|
8.892927 |
793.439 |
8.883788 |
0 |
12/31/2011 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Core Equity Fund-Series I Shares (Inception Date 5/1/2006) |
|||||
|
20.596026 |
0 |
20.171321 |
0 |
12/31/2019 |
|
|
16.213544 |
0 |
15.903398 |
0 |
12/31/2018 |
|
|
18.168897 |
0 |
17.848666 |
0 |
12/31/2017 |
|
|
16.297692 |
0 |
16.034749 |
0 |
12/31/2016 |
|
|
15.005706 |
0 |
14.786093 |
0 |
12/31/2015 |
|
|
16.167109 |
0 |
15.954778 |
0 |
12/31/2014 |
|
|
15.176947 |
0 |
15.000436 |
0 |
12/31/2013 |
|
|
11.921202 |
0 |
11.80048 |
0 |
12/31/2012 |
|
|
10.628194 |
0 |
10.536683 |
0 |
12/31/2011 |
|
|
10.796561 |
0 |
10.719875 |
0 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Diversified Dividend Fund-Series I Shares (Inception Date |
|||||
|
5/1/2001) |
|
|
|
|
|
|
20.889576 |
0 |
20.615396 |
0 |
12/31/2019 |
|
|
16.953782 |
0 |
16.756743 |
0 |
12/31/2018 |
|
|
18.624178 |
0 |
18.435934 |
0 |
12/31/2017 |
|
|
17.413851 |
0 |
17.264014 |
0 |
12/31/2016 |
|
|
15.398163 |
0 |
15.28891 |
0 |
12/31/2015 |
|
|
15.316128 |
0 |
15.230622 |
0 |
12/31/2014 |
|
|
13.781537 |
0 |
13.725464 |
0 |
12/31/2013 |
|
|
10.677484 |
0 |
10.650221 |
0 |
12/31/2012 |
|
|
9.131052 |
0 |
9.121677 |
0 |
12/31/2011 |
|
|
5.499048 |
0 |
5.419274 |
0 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Health Care Fund (formerly Invesco V.I. Global Health Care |
|||||
|
Fund) - Series I Shares (Inception Date 5/1/2001) |
|
|
|
||
|
29.389609 |
0 |
28.569531 |
0 |
12/31/2019 |
|
|
22.517782 |
0 |
21.922788 |
0 |
12/31/2018 |
|
|
22.657762 |
0 |
22.092884 |
0 |
12/31/2017 |
|
|
19.858838 |
0 |
19.393137 |
0 |
12/31/2016 |
|
|
22.771219 |
48.509 |
22.271114 |
0 |
12/31/2015 |
|
|
22.409137 |
48.765 |
21.950378 |
0 |
12/31/2014 |
|
|
19.011079 |
49.022 |
18.650231 |
0 |
12/31/2013 |
|
|
13.732927 |
49.327 |
13.492765 |
0 |
12/31/2012 |
|
|
11.532821 |
696.852 |
11.348477 |
0 |
12/31/2011 |
|
|
11.263244 |
697.244 |
11.100066 |
0 |
12/31/2010 |
|
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. High Yield Fund-Series I Shares (Inception Date 4/30/2004) |
|||||
|
20.560063 |
0 |
20.075200 |
0 |
12/31/2019 |
|
|
18.38906 |
0 |
17.982722 |
0 |
12/31/2018 |
|
|
19.318223 |
0 |
18.920283 |
0 |
12/31/2017 |
|
|
18.449284 |
0 |
18.096678 |
0 |
12/31/2016 |
|
|
16.841857 |
0 |
16.545122 |
0 |
12/31/2015 |
|
|
17.657534 |
0 |
17.372854 |
0 |
12/31/2014 |
|
|
17.622309 |
0 |
17.364619 |
0 |
12/31/2013 |
|
|
16.719008 |
0 |
16.499621 |
0 |
12/31/2012 |
|
|
14.486958 |
0 |
14.318741 |
0 |
12/31/2011 |
|
|
14.56694 |
0 |
14.419662 |
0 |
12/31/2010 |
|
|
|
|
|
|
54 |
|
|
Optional Death Benefit |
Number of Optional Death |
Optional Death Benefit |
Number of Optional |
|
|
|
Benefit (issue age 65 and |
Death Benefit (issue |
|
|||
|
(issue age 65 and younger) |
(issue age over 65/under |
|
|||
|
younger) |
age over 65/under 79) |
Year |
|||
|
Accumulation |
79) Accumulation Unit |
||||
|
Accumulation |
Accumulation |
|
|||
|
Unit Value |
Value |
|
|||
|
Units Outstanding |
Units Outstanding |
|
|||
|
|
|
|
|||
|
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - Invesco V.I. Small Cap Equity Fund-Series I Shares (Inception Date |
|||||
|
12/1/2004) |
|
|
|
|
|
|
23.977279 |
0 |
23.432669 |
0 |
12/31/2019 |
|
|
19.228122 |
0 |
18.820002 |
0 |
12/31/2018 |
|
|
22.989799 |
0 |
22.536346 |
0 |
12/31/2017 |
|
|
20.462649 |
0 |
20.089493 |
0 |
12/31/2016 |
|
|
18.53795 |
0 |
18.227622 |
0 |
12/31/2015 |
|
|
19.919834 |
0 |
19.616219 |
0 |
12/31/2014 |
|
|
19.756846 |
0 |
19.485363 |
0 |
12/31/2013 |
|
|
14.591069 |
650.602 |
14.412463 |
0 |
12/31/2012 |
|
|
13.007163 |
650.602 |
12.867619 |
0 |
12/31/2011 |
|
|
13.301457 |
729.45 |
13.178765 |
0 |
12/31/2010 |
|
|
ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio (formerly Ibbotson Balanced ETF Asset Allocation |
|||||
|
Portfolio)-Class II (Inception Date 5/1/2007) |
|
|
|
||
|
14.343809 |
0 |
14.069668 |
0 |
12/31/2019 |
|
|
12.525562 |
0 |
12.304883 |
0 |
12/31/2018 |
|
|
13.562753 |
0 |
13.344217 |
0 |
12/31/2017 |
|
|
12.149279 |
0 |
11.971661 |
0 |
12/31/2016 |
|
|
11.370625 |
0 |
11.221442 |
0 |
12/31/2015 |
|
|
11.806113 |
0 |
11.668966 |
0 |
12/31/2014 |
|
|
11.468588 |
0 |
11.352618 |
0 |
12/31/2013 |
|
|
10.4087 |
0 |
10.319145 |
0 |
12/31/2012 |
|
|
9.536779 |
0 |
9.469194 |
0 |
12/31/2011 |
|
|
9.768373 |
0 |
9.713887 |
0 |
12/31/2010 |
|
|
ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio (formerly Ibbotson Conservative ETF Asset |
|||||
|
Allocation Portfolio)-Class II (Inception Date 5/1/2007) |
|
|
|
||
|
12.510406 |
0 |
12.271268 |
0 |
12/31/2019 |
|
|
11.596116 |
0 |
11.391784 |
0 |
12/31/2018 |
|
|
12.059142 |
0 |
11.864804 |
0 |
12/31/2017 |
|
|
11.527299 |
0 |
11.358745 |
0 |
12/31/2016 |
|
|
11.187417 |
0 |
11.040614 |
0 |
12/31/2015 |
|
|
11.497093 |
0 |
11.363511 |
0 |
12/31/2014 |
|
|
11.35792 |
0 |
11.243063 |
0 |
12/31/2013 |
|
|
11.242667 |
0 |
11.145931 |
0 |
12/31/2012 |
|
|
10.849499 |
0 |
10.772617 |
0 |
12/31/2011 |
|
|
10.678798 |
0 |
10.619233 |
0 |
12/31/2010 |
|
|
ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio (formerly Ibbotson Growth ETF Asset Allocation |
|||||
|
Portfolio)-Class II (Inception Date 5/1/2007) |
|
|
|
||
|
14.805711 |
0 |
14.522666 |
0 |
12/31/2019 |
|
|
12.55043 |
0 |
12.329248 |
0 |
12/31/2018 |
|
|
13.856892 |
0 |
13.633543 |
0 |
12/31/2017 |
|
|
11.992787 |
0 |
11.8174 |
0 |
12/31/2016 |
|
|
11.099401 |
0 |
10.953736 |
0 |
12/31/2015 |
|
|
11.55892 |
0 |
11.424602 |
0 |
12/31/2014 |
|
|
11.221604 |
0 |
11.1081 |
0 |
12/31/2013 |
|
|
9.775177 |
0 |
9.691034 |
0 |
12/31/2012 |
|
|
8.789531 |
0 |
8.727217 |
0 |
12/31/2011 |
|
|
9.263876 |
0 |
9.212174 |
0 |
12/31/2010 |
|
|
ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio (formerly Ibbotson Income and Growth ETF |
|||||
|
Asset Allocation Portfolio)-Class II (Inception Date 5/1/2007) |
|
|
|
||
|
13.361024 |
0 |
13.105655 |
0 |
12/31/2019 |
|
|
12.014418 |
0 |
11.802731 |
0 |
12/31/2018 |
|
|
12.740073 |
0 |
12.534774 |
0 |
12/31/2017 |
|
|
11.764199 |
0 |
11.592209 |
0 |
12/31/2016 |
|
|
11.227802 |
0 |
11.080502 |
0 |
12/31/2015 |
|
|
11.593338 |
0 |
11.458675 |
0 |
12/31/2014 |
|
|
11.393512 |
0 |
11.278324 |
0 |
12/31/2013 |
|
|
10.7768 |
0 |
10.684096 |
0 |
12/31/2012 |
|
|
|
|
|
|
55 |
|
|
Optional Death Benefit |
Number of Optional Death |
Optional Death Benefit |
Number of Optional |
|
|
|
Benefit (issue age 65 and |
Death Benefit (issue |
|
|||
|
(issue age 65 and younger) |
(issue age over 65/under |
|
|||
|
younger) |
age over 65/under 79) |
Year |
|||
|
Accumulation |
79) Accumulation Unit |
||||
|
Accumulation |
Accumulation |
|
|||
|
Unit Value |
Value |
|
|||
|
Units Outstanding |
Units Outstanding |
|
|||
|
|
|
|
|||
|
10.143634 |
0 |
10.071769 |
0 |
12/31/2011 |
|
|
10.187194 |
0 |
10.130388 |
0 |
12/31/2010 |
|
|
American Century Variable Portfolios, Inc. - VP Capital Appreciation Fund-Class I Shares (Inception Date 4/25/2014) |
|
||||
|
16.475386 |
43.852 |
16.333304 |
0 |
12/31/2019 |
|
|
12.338171 |
46.192 |
12.250397 |
0 |
12/31/2018 |
|
|
13.213861 |
48.546 |
13.139961 |
0 |
12/31/2017 |
|
|
11.014294 |
269.187 |
10.96932 |
0 |
12/31/2016 |
|
|
10.832266 |
446.785 |
10.804468 |
0 |
12/31/2015 |
|
|
10.788863 |
438.328 |
10.777571 |
0 |
12/31/2014 |
|
|
American Century Variable Portfolios, Inc. - VP Large Company Value Fund-Class I Shares (Inception Date 5/1/2004) |
|
||||
|
21.257249 |
0 |
20.774430 |
0 |
12/31/2019 |
|
|
16.929311 |
0 |
16.569978 |
0 |
12/31/2018 |
|
|
18.69167 |
0 |
18.322974 |
0 |
12/31/2017 |
|
|
17.083805 |
0 |
16.772262 |
0 |
12/31/2016 |
|
|
15.049297 |
0 |
14.797357 |
0 |
12/31/2015 |
|
|
15.897605 |
0 |
15.655292 |
0 |
12/31/2014 |
|
|
14.299296 |
0 |
14.10279 |
0 |
12/31/2013 |
|
|
11.053373 |
0 |
10.918072 |
0 |
12/31/2012 |
|
|
9.641591 |
0 |
9.538149 |
0 |
12/31/2011 |
|
|
9.679912 |
0 |
9.590615 |
0 |
12/31/2010 |
|
|
American Century Variable Portfolios, Inc. - VP Mid Cap Value Fund-Class I Shares (Inception Date 12/1/2004) |
|
||||
|
33.321384 |
0 |
32.564663 |
0 |
12/31/2019 |
|
|
26.193449 |
0 |
25.637578 |
0 |
12/31/2018 |
|
|
30.511291 |
0 |
29.909556 |
0 |
12/31/2017 |
|
|
27.731576 |
0 |
27.22594 |
0 |
12/31/2016 |
|
|
22.916394 |
106.677 |
22.532789 |
0 |
12/31/2015 |
|
|
23.603474 |
835.662 |
23.243725 |
0 |
12/31/2014 |
|
|
20.582533 |
820.198 |
20.299695 |
0 |
12/31/2013 |
|
|
16.05954 |
642.42 |
15.862963 |
0 |
12/31/2012 |
|
|
14.016711 |
1,976.56 |
13.866319 |
0 |
12/31/2011 |
|
|
14.329115 |
3,141.91 |
14.196922 |
0 |
12/31/2010 |
|
|
American Century Variable Portfolios, Inc. - VP Ultra® Fund-Class I Shares (Inception Date 12/1/2004) |
|
||||
|
31.245701 |
28.600 |
30.536177 |
0 |
12/31/2019 |
|
|
23.570529 |
29.117 |
23.070374 |
0 |
12/31/2018 |
|
|
23.751392 |
29.661 |
23.283026 |
0 |
12/31/2017 |
|
|
18.235321 |
195.537 |
17.902855 |
0 |
12/31/2016 |
|
|
17.725054 |
196.317 |
17.4284 |
0 |
12/31/2015 |
|
|
16.933054 |
846.066 |
16.675012 |
0 |
12/31/2014 |
|
|
15.628758 |
898.272 |
15.414036 |
0 |
12/31/2013 |
|
|
11.575185 |
1,033.53 |
11.433524 |
0 |
12/31/2012 |
|
|
10.315905 |
1,052.39 |
10.205251 |
0 |
12/31/2011 |
|
|
10.362149 |
1,304.46 |
10.266574 |
0 |
12/31/2010 |
|
|
BNY Mellon Investment Portfolios - MidCap Stock Portfolio-Service Shares (Inception Date 5/1/2007) |
|
||||
|
18.632538 |
0 |
18.276293 |
0 |
12/31/2019 |
|
|
15.78249 |
0 |
15.504331 |
0 |
12/31/2018 |
|
|
19.005488 |
0 |
18.699149 |
0 |
12/31/2017 |
|
|
16.77164 |
0 |
16.526356 |
0 |
12/31/2016 |
|
|
14.780236 |
0 |
14.586256 |
0 |
12/31/2015 |
|
|
15.392672 |
0 |
15.2138 |
0 |
12/31/2014 |
|
|
13.982671 |
0 |
13.841227 |
0 |
12/31/2013 |
|
|
10.538757 |
0 |
10.448031 |
0 |
12/31/2012 |
|
|
8.966026 |
0 |
8.902452 |
0 |
12/31/2011 |
|
|
9.084243 |
0 |
9.033541 |
0 |
12/31/2010 |
|
|
BNY Mellon Investment Portfolios - Technology Growth Portfolio-Initial Shares (Inception Date 12/1/2004) |
|
||||
|
36.178300 |
16.134 |
35.356650 |
0 |
12/31/2019 |
|
|
29.192911 |
16.336 |
28.573358 |
0 |
12/31/2018 |
|
|
29.934727 |
16.548 |
29.344324 |
0 |
12/31/2017 |
|
|
21.304764 |
137.395 |
20.916254 |
0 |
12/31/2016 |
|
56
|
Optional Death Benefit |
Number of Optional Death |
Optional Death Benefit |
Number of Optional |
|
|
|
Benefit (issue age 65 and |
Death Benefit (issue |
|
|
||
|
(issue age 65 and younger) |
(issue age over 65/under |
|
|
||
|
younger) |
age over 65/under 79) |
|
Year |
||
|
Accumulation |
79) Accumulation Unit |
|
|||
|
Accumulation |
Accumulation |
|
|
||
|
Unit Value |
Value |
|
|
||
|
Units Outstanding |
Units Outstanding |
|
|
||
|
|
|
|
|
||
|
20.653759 |
178.444 |
20.307998 |
0 |
|
12/31/2015 |
|
19.75185 |
178.937 |
19.45077 |
0 |
|
12/31/2014 |
|
18.771857 |
179.467 |
18.513861 |
0 |
|
12/31/2013 |
|
14.35021 |
180.111 |
14.174535 |
0 |
|
12/31/2012 |
|
12.601291 |
695.218 |
12.466089 |
0 |
|
12/31/2011 |
|
13.872198 |
696.12 |
13.744226 |
0 |
|
12/31/2010 |
|
BNY Mellon Stock Index Fund, Inc. (formerly Dreyfus Stock Index Fund, Inc.) - Initial Shares (Inception Date 7/15/1997) |
|
||||
|
35.952796 |
4.741 |
34.754159 |
0 |
|
12/31/2019 |
|
27.823684 |
6.624 |
26.937027 |
0 |
|
12/31/2018 |
|
29.623081 |
8.495 |
28.723032 |
0 |
|
12/31/2017 |
|
24.743322 |
258.705 |
24.02795 |
0 |
|
12/31/2016 |
|
22.48738 |
732.638 |
21.870477 |
0 |
|
12/31/2015 |
|
22.57974 |
1,443.78 |
21.993754 |
0 |
|
12/31/2014 |
|
20.210458 |
1,241.85 |
19.71594 |
0 |
|
12/31/2013 |
|
15.540816 |
1,042.48 |
15.183636 |
0 |
|
12/31/2012 |
|
13.633137 |
4,999.85 |
13.340187 |
0 |
|
12/31/2011 |
|
13.585166 |
5,977.49 |
13.313456 |
0 |
|
12/31/2010 |
|
BNY Mellon Sustainable U.S. Equity Portfolio, Inc. (formerly The Dreyfus Sustainable U.S. Equity Portfolio, Inc. )- Initial Shares (Inception |
|||||
|
Date 7/15/1997) |
|
|
|
|
|
|
27.332192 |
0 |
26.420916 |
0 |
|
12/31/2019 |
|
20.652425 |
0 |
19.994251 |
0 |
|
12/31/2018 |
|
21.93424 |
0 |
21.267753 |
0 |
|
12/31/2017 |
|
19.306951 |
273.7 |
18.748712 |
0 |
|
12/31/2016 |
|
17.758821 |
273.7 |
17.271598 |
0 |
|
12/31/2015 |
|
18.624265 |
273.7 |
18.140882 |
0 |
|
12/31/2014 |
|
16.666024 |
273.697 |
16.258195 |
0 |
|
12/31/2013 |
|
12.594424 |
273.697 |
12.304924 |
0 |
|
12/31/2012 |
|
11.419795 |
273.96 |
11.174371 |
0 |
|
12/31/2011 |
|
11.489945 |
274.233 |
11.260096 |
0 |
|
12/31/2010 |
|
BNY Mellon Variable Investment Fund - Appreciation Portfolio-Initial Shares (Inception Date 12/7/1995) |
|
||||
|
34.894992 |
0 |
33.731510 |
0 |
|
12/31/2019 |
|
26.030201 |
0 |
25.200611 |
0 |
|
12/31/2018 |
|
28.373187 |
0 |
27.511034 |
0 |
|
12/31/2017 |
|
22.621139 |
237.338 |
21.967052 |
0 |
|
12/31/2016 |
|
21.283506 |
237.338 |
20.699568 |
0 |
|
12/31/2015 |
|
22.154615 |
237.338 |
21.579607 |
0 |
|
12/31/2014 |
|
20.808266 |
237.341 |
20.299079 |
0 |
|
12/31/2013 |
|
17.443859 |
237.341 |
17.042914 |
0 |
|
12/31/2012 |
|
16.038052 |
237.569 |
15.693421 |
0 |
|
12/31/2011 |
|
14.935711 |
843.572 |
14.636968 |
0 |
|
12/31/2010 |
|
BNY Mellon Variable Investment Fund - Government Money Market Portfolio (formerly Money Market Portfolio) (Inception Date 5/1/2005) |
|||||
|
1.087344 |
14.008 |
1.050574 |
0 |
|
12/31/2019 |
|
1.085865 |
35.486 |
1.050798 |
0 |
|
12/31/2018 |
|
1.088202 |
56.666 |
1.054844 |
0 |
|
12/31/2017 |
|
1.099801 |
75.662 |
1.068141 |
0 |
|
12/31/2016 |
|
1.114747 |
2,413.47 |
1.08479 |
0 |
|
12/31/2015 |
|
1.129771 |
2,220.96 |
1.101517 |
0 |
|
12/31/2014 |
|
1.144796 |
2,030.98 |
1.118245 |
0 |
|
12/31/2013 |
|
1.159822 |
1,773.30 |
1.134974 |
0 |
|
12/31/2012 |
|
1.174932 |
1,977.04 |
1.151793 |
0 |
|
12/31/2011 |
|
1.189835 |
2,995.30 |
1.168396 |
0 |
|
12/31/2010 |
|
BNY Mellon Variable Investment Fund - Growth & Income Portfolio-Initial Shares (Inception Date 12/7/1995) |
|
||||
|
29.254598 |
1.318 |
28.279237 |
0 |
|
12/31/2019 |
|
23.001631 |
3.339 |
22.268596 |
0 |
|
12/31/2018 |
|
24.501991 |
5.331 |
23.757497 |
0 |
|
12/31/2017 |
|
20.778778 |
7.118 |
20.177995 |
0 |
|
12/31/2016 |
|
19.171872 |
233.116 |
18.645897 |
0 |
|
12/31/2015 |
|
19.160366 |
222.017 |
18.663095 |
0 |
|
12/31/2014 |
|
|
|
|
|
|
57 |
|
Optional Death Benefit |
Number of Optional Death |
Optional Death Benefit |
Number of Optional |
|
|
|
Benefit (issue age 65 and |
Death Benefit (issue |
|
|
||
|
(issue age 65 and younger) |
(issue age over 65/under |
|
|
||
|
younger) |
age over 65/under 79) |
|
Year |
||
|
Accumulation |
79) Accumulation Unit |
|
|||
|
Accumulation |
Accumulation |
|
|
||
|
Unit Value |
Value |
|
|
||
|
Units Outstanding |
Units Outstanding |
|
|
||
|
|
|
|
|
||
|
17.671834 |
639.12 |
17.239419 |
0 |
|
12/31/2013 |
|
13.116319 |
619.521 |
12.814852 |
0 |
|
12/31/2012 |
|
11.278546 |
587.571 |
11.036181 |
0 |
|
12/31/2011 |
|
11.77908 |
538.367 |
11.543482 |
0 |
|
12/31/2010 |
|
BNY Mellon Variable Investment Fund - Opportunistic Small Cap Portfolio-Initial Shares (Inception Date 12/7/1997) |
|
||||
|
24.758976 |
165.284 |
23.933345 |
0 |
|
12/31/2019 |
|
20.640727 |
173.155 |
19.982818 |
0 |
|
12/31/2018 |
|
25.897632 |
183.623 |
25.11062 |
0 |
|
12/31/2017 |
|
21.08654 |
191.635 |
20.476767 |
0 |
|
12/31/2016 |
|
18.286053 |
461.483 |
17.7843 |
0 |
|
12/31/2015 |
|
18.997297 |
450.943 |
18.504178 |
0 |
|
12/31/2014 |
|
18.983929 |
439.975 |
18.519328 |
0 |
|
12/31/2013 |
|
12.974086 |
421.689 |
12.675816 |
0 |
|
12/31/2012 |
|
10.925843 |
941.59 |
10.691003 |
0 |
|
12/31/2011 |
|
12.87464 |
921.159 |
12.617102 |
0 |
|
12/31/2010 |
|
Deutsche DWS Investments VIT Funds - DWS Small Cap Index VIP (formerly Deutsche Small Cap Index VIP)-Class A (Inception Date 5/1/1999) |
|||||
|
34.563501 |
0 |
33.499736 |
0 |
|
12/31/2019 |
|
28.021941 |
0 |
27.200865 |
0 |
|
12/31/2018 |
|
32.050443 |
0 |
31.159023 |
0 |
|
12/31/2017 |
|
28.459363 |
125.771 |
27.70982 |
0 |
|
12/31/2016 |
|
23.872855 |
125.771 |
23.279496 |
0 |
|
12/31/2015 |
|
25.403848 |
125.771 |
24.810196 |
0 |
|
12/31/2014 |
|
24.623052 |
227.804 |
24.084288 |
0 |
|
12/31/2013 |
|
18.030911 |
227.804 |
17.663227 |
0 |
|
12/31/2012 |
|
15.747735 |
228.043 |
15.450221 |
0 |
|
12/31/2011 |
|
16.725575 |
221.584 |
16.434548 |
0 |
|
12/31/2010 |
|
Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund-Class 2 (Inception Date 5/1/2007) |
|
||||
|
10.133650 |
0 |
9.939863 |
0 |
|
12/31/2019 |
|
9.142498 |
0 |
8.981317 |
0 |
|
12/31/2018 |
|
10.97779 |
0 |
10.80078 |
0 |
|
12/31/2017 |
|
9.550231 |
0 |
9.410509 |
0 |
|
12/31/2016 |
|
9.046475 |
0 |
8.927705 |
0 |
|
12/31/2015 |
|
9.82192 |
0 |
9.707758 |
0 |
|
12/31/2014 |
|
11.220632 |
0 |
11.107118 |
0 |
|
12/31/2013 |
|
9.263616 |
0 |
9.183858 |
0 |
|
12/31/2012 |
|
7.955043 |
0 |
7.898627 |
0 |
|
12/31/2011 |
|
9.037088 |
0 |
8.986647 |
0 |
|
12/31/2010 |
|
Janus Aspen Series - Janus Henderson VIT Balanced Portfolio (formerly Janus Aspen Balanced Portfolio)-Institutional Shares (Inception |
|||||
|
Date 7/15/1997) |
|
|
|
|
|
|
49.113515 |
0.996 |
47.476177 |
0 |
|
12/31/2019 |
|
40.673841 |
2.523 |
39.377734 |
0 |
|
12/31/2018 |
|
41.017308 |
4.029 |
39.771091 |
0 |
|
12/31/2017 |
|
35.159776 |
190.844 |
34.143278 |
0 |
|
12/31/2016 |
|
34.124507 |
360.706 |
33.188421 |
0 |
|
12/31/2015 |
|
34.430596 |
1,342.56 |
33.537135 |
0 |
|
12/31/2014 |
|
32.214323 |
1,239.46 |
31.426158 |
408.386 |
|
12/31/2013 |
|
27.218811 |
1,322.66 |
26.593307 |
408.927 |
|
12/31/2012 |
|
24.322807 |
1,752.52 |
23.800233 |
409.545 |
|
12/31/2011 |
|
24.294411 |
2,780.97 |
23.808573 |
410.171 |
|
12/31/2010 |
|
Janus Aspen Series - Janus Henderson VIT Enterprise Portfolio (formerly Janus Aspen Enterprise Portfolio)-Institutional Shares (Inception |
|||||
|
Date 7/15/1997) |
|
|
|
|
|
|
62.487559 |
0 |
60.404030 |
0 |
|
12/31/2019 |
|
46.823665 |
0 |
45.331327 |
0 |
|
12/31/2018 |
|
47.738841 |
0 |
46.288158 |
0 |
|
12/31/2017 |
|
38.03411 |
0 |
36.934304 |
0 |
|
12/31/2016 |
|
34.364836 |
0 |
33.421943 |
0 |
|
12/31/2015 |
|
33.536633 |
0 |
32.666143 |
0 |
|
12/31/2014 |
|
30.258185 |
0 |
29.517691 |
0 |
|
12/31/2013 |
|
|
|
|
|
|
58 |
|
Optional Death Benefit |
Number of Optional Death |
Optional Death Benefit |
Number of Optional |
|
|
|
Benefit (issue age 65 and |
Death Benefit (issue |
|
|||
|
(issue age 65 and younger) |
(issue age over 65/under |
|
|||
|
younger) |
age over 65/under 79) |
Year |
|||
|
Accumulation |
79) Accumulation Unit |
||||
|
Accumulation |
Accumulation |
|
|||
|
Unit Value |
Value |
|
|||
|
Units Outstanding |
Units Outstanding |
|
|||
|
|
|
|
|||
|
23.205213 |
0 |
22.671775 |
0 |
12/31/2012 |
|
|
20.087112 |
0 |
19.655389 |
0 |
12/31/2011 |
|
|
20.686244 |
160.019 |
20.27242 |
0 |
12/31/2010 |
|
|
Janus Aspen Series - Janus Henderson VIT Forty Portfolio (formerly Janus Aspen Forty Portfolio)-Institutional Shares (Inception Date |
|||||
|
5/1/1999) |
|
|
|
|
|
|
38.392346 |
256.330 |
37.210416 |
0 |
12/31/2019 |
|
|
28.416904 |
266.455 |
27.584015 |
0 |
12/31/2018 |
|
|
28.291156 |
280.593 |
27.504036 |
0 |
12/31/2017 |
|
|
22.039038 |
291.248 |
21.458383 |
0 |
12/31/2016 |
|
|
21.894006 |
404.778 |
21.349643 |
0 |
12/31/2015 |
|
|
19.806856 |
518.474 |
19.343801 |
0 |
12/31/2014 |
|
|
18.493557 |
770.116 |
18.088728 |
0 |
12/31/2013 |
|
|
14.307295 |
762.052 |
14.015414 |
0 |
12/31/2012 |
|
|
11.699545 |
749.264 |
11.47839 |
0 |
12/31/2011 |
|
|
12.729492 |
2,101.59 |
12.50787 |
0 |
12/31/2010 |
|
|
Janus Aspen Series - Janus Henderson VIT Overseas Portfolio (formerly Janus Aspen Overseas Portfolio-Institutional Shares (Inception Date |
|||||
|
7/15/1997) |
|
|
|
|
|
|
29.120415 |
0 |
28.149341 |
0 |
12/31/2019 |
|
|
23.275283 |
0 |
22.533392 |
0 |
12/31/2018 |
|
|
27.783506 |
0 |
26.939165 |
0 |
12/31/2017 |
|
|
21.511045 |
0 |
20.888975 |
0 |
12/31/2016 |
|
|
23.344948 |
0 |
22.704394 |
0 |
12/31/2015 |
|
|
25.928166 |
715.167 |
25.255198 |
0 |
12/31/2014 |
|
|
29.869783 |
726.804 |
29.138874 |
0 |
12/31/2013 |
|
|
26.469833 |
987.59 |
25.861433 |
0 |
12/31/2012 |
|
|
23.685193 |
998.535 |
23.176245 |
0 |
12/31/2011 |
|
|
35.449774 |
905.059 |
34.740872 |
0 |
12/31/2010 |
|
|
Janus Aspen Series - Janus Henderson VIT Research Portfolio (formerly Janus Aspen Janus Portfolio)-Institutional Shares (Inception Date |
|||||
|
7/15/1997) |
|
|
|
|
|
|
34.746734 |
22.779 |
33.588237 |
0 |
12/31/2019 |
|
|
26.029918 |
23.19 |
25.200366 |
0 |
12/31/2018 |
|
|
27.127693 |
23.622 |
26.303399 |
0 |
12/31/2017 |
|
|
21.5354 |
24.147 |
20.912718 |
0 |
12/31/2016 |
|
|
21.754476 |
24.767 |
21.157629 |
0 |
12/31/2015 |
|
|
20.965141 |
25.369 |
20.421014 |
0 |
12/31/2014 |
|
|
18.836692 |
26.052 |
18.375747 |
0 |
12/31/2013 |
|
|
14.672307 |
26.875 |
14.335062 |
0 |
12/31/2012 |
|
|
12.561895 |
27.848 |
12.291941 |
0 |
12/31/2011 |
|
|
13.466769 |
274.637 |
13.197399 |
0 |
12/31/2010 |
|
|
Morgan Stanley Variable Insurance Fund, Inc. - Core Plus Fixed Income Portfolio-Class I (Inception Date 7/15/1997) |
|
||||
|
20.822802 |
2.064 |
20.128659 |
0 |
12/31/2019 |
|
|
19.065415 |
5.23 |
18.457931 |
0 |
12/31/2018 |
|
|
19.484268 |
8.35 |
18.892338 |
0 |
12/31/2017 |
|
|
18.617898 |
243.942 |
18.079707 |
0 |
12/31/2016 |
|
|
17.812913 |
738.161 |
17.324341 |
0 |
12/31/2015 |
|
|
18.202644 |
715.105 |
17.730345 |
0 |
12/31/2014 |
|
|
17.13395 |
770.045 |
16.714795 |
0 |
12/31/2013 |
|
|
17.450128 |
736.64 |
17.04916 |
0 |
12/31/2012 |
|
|
16.188954 |
2,785.56 |
15.841175 |
0 |
12/31/2011 |
|
|
15.556347 |
2,908.91 |
15.245263 |
0 |
12/31/2010 |
|
|
Morgan Stanley Variable Insurance Fund, Inc. - Discovery Portfolio (formerly Mid Cap Growth Portfolio) - Class I (Inception Date 5/1/2007) |
|||||
|
27.210825 |
0 |
26.690592 |
0 |
12/31/2019 |
|
|
19.716807 |
0 |
19.369292 |
0 |
12/31/2018 |
|
|
18.09205 |
0 |
17.800412 |
0 |
12/31/2017 |
|
|
13.23602 |
0 |
13.042422 |
0 |
12/31/2016 |
|
|
14.731164 |
0 |
14.537818 |
0 |
12/31/2015 |
|
|
15.892799 |
0 |
15.708113 |
0 |
12/31/2014 |
|
|
15.823494 |
0 |
15.663447 |
0 |
12/31/2013 |
|
|
|
|
|
|
59 |
|
|
Optional Death Benefit |
Number of Optional Death |
Optional Death Benefit |
Number of Optional |
|
|
|
Benefit (issue age 65 and |
Death Benefit (issue |
|
|||
|
(issue age 65 and younger) |
(issue age over 65/under |
|
|||
|
younger) |
age over 65/under 79) |
Year |
|||
|
Accumulation |
79) Accumulation Unit |
||||
|
Accumulation |
Accumulation |
|
|||
|
Unit Value |
Value |
|
|||
|
Units Outstanding |
Units Outstanding |
|
|||
|
|
|
|
|||
|
11.684259 |
747.28 |
11.583678 |
0 |
12/31/2012 |
|
|
10.914608 |
747.28 |
10.837226 |
0 |
12/31/2011 |
|
|
11.930056 |
0 |
11.863483 |
0 |
12/31/2010 |
|
|
Morgan Stanley Variable Insurance Fund, Inc. - U.S. Real Estate Portfolio-Class I (Inception Date 7/15/1997) |
|
||||
|
51.487296 |
0 |
49.770718 |
0 |
12/31/2019 |
|
|
43.948322 |
0 |
42.547798 |
0 |
12/31/2018 |
|
|
48.352129 |
0 |
46.883024 |
0 |
12/31/2017 |
|
|
47.606228 |
0 |
46.229876 |
0 |
12/31/2016 |
|
|
45.247963 |
0 |
44.006652 |
0 |
12/31/2015 |
|
|
44.96123 |
0 |
43.794382 |
0 |
12/31/2014 |
|
|
35.187181 |
39.466 |
34.326149 |
0 |
12/31/2013 |
|
|
35.00423 |
39.877 |
34.199705 |
0 |
12/31/2012 |
|
|
30.681207 |
40.338 |
30.021922 |
0 |
12/31/2011 |
|
|
29.406587 |
40.736 |
28.818425 |
0 |
12/31/2010 |
|
|
PIMCO Variable Insurance Trust - PIMCO Real Return Portfolio-Administrative Class (Inception Date 12/1/2004) |
|
||||
|
14.017919 |
0 |
13.699597 |
0 |
12/31/2019 |
|
|
13.123034 |
0 |
12.844569 |
0 |
12/31/2018 |
|
|
13.625119 |
0 |
13.356435 |
0 |
12/31/2017 |
|
|
13.343762 |
0 |
13.100494 |
0 |
12/31/2016 |
|
|
12.87739 |
0 |
12.661878 |
0 |
12/31/2015 |
|
|
13.437072 |
0 |
13.232328 |
0 |
12/31/2014 |
|
|
13.231481 |
0 |
13.049715 |
0 |
12/31/2013 |
|
|
14.796992 |
0 |
14.615949 |
0 |
12/31/2012 |
|
|
13.813229 |
0 |
13.665114 |
0 |
12/31/2011 |
|
|
12.556436 |
651.035 |
12.44067 |
0 |
12/31/2010 |
|
|
PIMCO Variable Insurance Trust - PIMCO Total Return Portfolio-Administrative Class (Inception Date 12/1/2004) |
|
||||
|
16.260592 |
0 |
15.891277 |
0 |
12/31/2019 |
|
|
15.233116 |
0 |
14.909817 |
0 |
12/31/2018 |
|
|
15.549853 |
0 |
15.243141 |
0 |
12/31/2017 |
|
|
15.045913 |
0 |
14.771547 |
0 |
12/31/2016 |
|
|
14.87613 |
0 |
14.6271 |
0 |
12/31/2015 |
|
|
15.032354 |
985.7 |
14.803241 |
0 |
12/31/2014 |
|
|
14.634555 |
991.34 |
14.433465 |
0 |
12/31/2013 |
|
|
15.154758 |
849.921 |
14.969278 |
0 |
12/31/2012 |
|
|
14.03866 |
834.803 |
13.888071 |
0 |
12/31/2011 |
|
|
13.755099 |
1,467.69 |
13.628218 |
0 |
12/31/2010 |
|
|
Wilshire Variable Insurance Trust - Wilshire Global Allocation Fund (Inception Date 12/7/2018) |
|
||||
|
11.031949 |
0 |
11.013885 |
0 |
12/31/2019 |
|
|
9.457786 |
0 |
9.456681 |
0 |
12/31/2018 |
|
The above table gives year-end Accumulation Unit information for each Subaccount for each of the last 10 fiscal years (or the effective date of the Subaccount, if later) to December 31, 2019. This information should be read in conjunction with the Separate Account financial statements including the notes to those statements. The beginning Accumulation Unit Value for the BNY Mellon Variable Investment Fund Government Money Market Portfolio (formerly Dreyfus VIF Government Money Market Portfolio) Subaccount was 1.000000 as of its inception date. The beginning Accumulation Unit Value for each other Subaccount was 10.000000 as of its inception date.
If you have invested in a Subaccount that is closed to new investors, the condensed financial information for such Subaccounts will be contained in Appendix D: Closed Subaccounts.
60
APPENDIX D: CLOSED SUBACCOUNTS
This Appendix provides information you should know before making any decision to allocate Purchase Payments or transfer amounts to the Subaccounts (individually, the "Closed Subaccount" and collectively, the "Closed Subaccounts") investing in the Portfolios listed below ("Closed Portfolios"). Each Closed Subaccount is an additional investment option available only to Contract Owners who held Accumulation Units in the Subaccount on the cutoff date set out below. Each Closed Subaccount will become unavailable to you once you no longer have money in that Closed Subaccount.
|
PORTFOLIO |
SHARE |
ADVISOR |
INVESTMENT |
CUTOFF DATE |
|
|
CLASS |
CATEGORY |
||||
|
|
|
|
|||
|
Calamos Advisors Trust |
N/A |
Calamos Advisors LLC |
Aggressive Allocation: |
April 30, 2012 |
|
|
Calamos Growth and Income Portfolio |
|
|
Large Blend |
|
|
|
Davis Variable Account Fund |
N/A |
Davis Selected Advisers, L.P. |
US Equity Large Cap |
April 30, 2015 |
|
|
Davis Value Portfolio |
|
Sub-Advisor: Davis Selected Advisers- |
Blend: Large Blend |
|
|
|
|
|
NY, Inc. (an affiliate of Davis Selected |
|
|
|
|
|
|
Advisors, L.P.) |
|
|
|
|
Janus Aspen Series |
Institutional |
Janus Capital Management LLC |
Global Equity Large |
November 30, 2004 |
|
|
Janus Henderson VIT Global Research |
|
|
Cap: Large Growth |
|
|
|
Portfolio |
|
|
|
|
|
|
The Timothy Plan |
N/A |
Timothy Partners, Ltd. |
Cautious Allocation: |
November 30, 2004 |
|
|
The Timothy Plan Conservative |
|
|
Mid Blend |
|
|
|
Growth Variable Series |
|
|
|
|
|
|
The Timothy Plan |
N/A |
Timothy Partners, Ltd. |
Moderate Allocation: |
November 30, 2004 |
|
|
The Timothy Plan Strategic Growth |
|
|
Mid Blend |
|
|
|
Variable Series |
|
|
|
|
Expenses and Examples with Closed Portfolios
The information in this section supplements the Expense Tables section in the Prospectus, which does not reflect the operating expenses of the Closed Portfolios.
Table C: Total Annual Portfolio Operating Expenses. When the Closed Portfolios are included in Table C, the maximum total operating expenses increase as shown below and the maximum expenses are the expenses of The Timothy Plan Strategic Growth Variable Series.
|
|
Minimum |
Maximum |
|
Without Closed Portfolios |
0.27% |
1.53% |
|
With Closed Portfolios |
0.27% |
1.82% |
Example. Below is an example that reflects this increase in the maximum Portfolio expenses.
Example D-1: Contract with Maximum Fund Operating Expenses (The Timothy Plan Strategic Growth Variable Series)
Assumptions
∙You invest $10,000 in the Contract for the periods indicated and your investment has a 5% return each year.
∙The annual contract maintenance fee ($30), the maximum Separate Account annual expenses (1.40%), and the maximum Portfolio expenses (1.82%) are incurred.
|
|
1 year |
3 years |
5 years |
10 years |
|
We assume that you surrender your Contract at the end of |
$1,060 |
$1,649 |
$2,339 |
$4,777 |
|
the period. We also assume that the applicable contingent |
||||
|
deferred sales charge is incurred. In this case, your costs |
|
|
|
|
|
would be: |
|
|
|
|
|
|
|
|
|
|
|
We assume that you keep your Contract and leave your |
$360 |
$1,149 |
$2,039 |
$4,777 |
|
money in your Contract for the entire period or you annuitize |
||||
|
your Contract at the end of the period. The contingent |
|
|
|
|
|
deferred sales charge does not apply in these situations. In |
|
|
|
|
|
this case, your costs would be: |
|
|
|
|
|
|
|
|
|
|
61
Example D-1A: Contract with Maximum Fund Operating Expenses and Highest Possible Separate Account Charges (The Timothy Plan Strategic Growth Variable Series)
Assumptions
∙You purchase an Optional Death Benefit Contract when you were over age 65, you invest $10,000 in the Spirit® Contract for the periods indicated and your investment has a 5% return each year.
∙The annual contract maintenance fee ($30), the maximum Separate Account annual expenses (1.65%), and the maximum Portfolio expenses (1.82%) are incurred.
|
|
|
|
|
|
|
1 year |
|
3 years |
|
5 years |
10 years |
|||
|
|
We assume that you surrender your Contract at the end of |
|
$1,085 |
|
$1,726 |
|
$2,471 |
|
$5,062 |
|
||||
|
|
the period. We also assume that the applicable contingent |
|
|
|
|
|
||||||||
|
|
deferred sales charge is incurred. In this case, your costs |
|
|
|
|
|
|
|
|
|
|
|||
|
|
would be: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
We assume that you keep your Contract and leave your |
|
$385 |
|
$1,226 |
|
$2,171 |
|
$5,062 |
|
||||
|
|
money in your Contract for the entire period or you annuitize |
|
|
|
|
|
||||||||
|
|
your Contract at the end of the period. The contingent |
|
|
|
|
|
|
|
|
|
|
|||
|
|
deferred sales charge does not apply in these situations. In |
|
|
|
|
|
|
|
|
|
|
|||
|
|
this case, your costs would be: |
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Financial Information for Closed Subaccounts |
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of |
Enhanced Group |
|
Number of |
|
|
|
||||
|
|
|
Number of |
|
Enhanced Group |
|
|
|
|||||||
|
|
|
|
Enhanced |
with |
|
|
|
|
||||||
|
Standard |
Standard |
Enhanced Group |
|
|
|
with |
|
|
|
|||||
|
Group |
Administration |
|
|
|
|
|
||||||||
|
Accumulation |
Accumulation |
Accumulation |
|
Administration |
|
Year |
|
|||||||
|
Accumulation |
Charges Waived |
|
|
|
||||||||||
|
Unit Value |
Units |
Unit Value |
Charges Waived |
|
|
|
||||||||
|
Units |
Accumulation |
|
|
|
||||||||||
|
|
|
Outstanding |
|
|
Accumulation |
|
|
|
||||||
|
|
|
|
Outstanding |
Unit Value |
|
|
|
|
|
|||||
|
|
|
|
|
|
Units Outstanding |
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Calamos Advisors Trust - Calamos Growth and Income Portfolio (Inception Date 5/1/2007) |
|
|
|
|
|
|
|
|||||||
|
18.417377 |
46,798.038 |
19.141267 |
125.201 |
|
19.512364 |
|
|
10,712.694 |
|
12/31/19 |
|
|||
|
14.876206 |
64,351.322 |
15.413992 |
235.309 |
|
15.689056 |
|
|
10705.151 |
|
12/31/18 |
|
|||
|
15.780897 |
75,472.291 |
16.301453 |
228.865 |
|
16.567095 |
|
|
15,317.441 |
|
12/31/17 |
|
|||
|
13.855053 |
81,230.809 |
14.268778 |
218.028 |
|
14.479432 |
|
|
14,588.787 |
|
12/31/16 |
|
|||
|
13.216429 |
98,350.711 |
13.569775 |
205.802 |
|
13.749265 |
|
|
13,373.594 |
|
12/31/15 |
|
|||
|
13.255393 |
111,095.556 |
13.568448 |
186.752 |
|
13.727121 |
|
|
12,983.143 |
|
12/31/14 |
|
|||
|
12.582472 |
122,133.087 |
12.840541 |
848.809 |
|
12.971041 |
|
|
12,312.111 |
|
12/31/13 |
|
|||
|
10.963522 |
156,626.753 |
11.154431 |
845.823 |
|
11.250751 |
|
|
16,591.726 |
|
12/31/12 |
|
|||
|
10.255741 |
193,925.031 |
10.402478 |
817.267 |
|
10.476349 |
|
|
7,856.256 |
|
12/31/11 |
|
|||
|
10.599686 |
139,497.772 |
10.718782 |
914.186 |
|
10.778592 |
|
|
1,804.667 |
|
12/31/10 |
|
|||
|
Davis Variable Account Fund, Inc. - Davis Value Portfolio (Inception Date 5/1/2007) |
|
|
|
|
|
|
|
|||||||
|
17.932096 |
40,447.651 |
18.637058 |
1,248.985 |
|
18.998529 |
|
|
1,870.375 |
|
12/31/19 |
|
|||
|
13.865176 |
50,449.834 |
14.366535 |
2,320.392 |
|
14.623023 |
|
|
2,451.823 |
|
12/31/18 |
|
|||
|
16.277566 |
59,373.581 |
16.814629 |
3,322.791 |
|
17.088752 |
|
|
2,751.661 |
|
12/31/17 |
|
|||
|
13.461923 |
63,499.725 |
13.864017 |
3,407.552 |
|
14.068786 |
|
|
4,268.484 |
|
12/31/16 |
|
|||
|
12.203048 |
72,255.540 |
12.529386 |
3,226.479 |
|
12.695208 |
|
|
4,303.620 |
|
12/31/15 |
|
|||
|
12.181922 |
82,991.715 |
12.469726 |
3,152.521 |
|
12.615615 |
|
|
5,278.946 |
|
12/31/14 |
|
|||
|
11.649064 |
95,678.915 |
11.888069 |
2,935.808 |
|
12.008955 |
|
|
5,197.583 |
|
12/31/13 |
|
|||
|
8.854556 |
98,427.146 |
9.008815 |
2,927.853 |
|
9.086665 |
|
|
4,912.307 |
|
12/31/12 |
|
|||
|
7.942116 |
121,657.376 |
8.055826 |
3,665.277 |
|
8.113069 |
|
|
3,832.806 |
|
12/31/11 |
|
|||
|
8.405610 |
189,109.456 |
8.500108 |
3,635.663 |
|
8.547573 |
|
|
2,973.728 |
|
12/31/10 |
|
|||
|
Janus Aspen Series - Janus Henderson VIT |
Global Research Portfolio (formerly Janus Aspen Global Research Portfolio)-Institutional Shares (Inception |
|
||||||||||||
|
Date 7/15/1997) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25.794824 |
352,438.568 |
27.605175 |
2,109.597 |
|
28.554919 |
|
|
390.659 |
|
12/31/19 |
|
|||
|
20.273096 |
392,347.291 |
21.630072 |
2,109.596 |
|
22.340396 |
|
|
441.688 |
|
12/31/18 |
|
|||
|
22.078771 |
431,396.406 |
23.484648 |
2,183.778 |
|
24.218921 |
|
|
429.009 |
|
12/31/17 |
|
|||
|
17.627050 |
454,073.848 |
18.692742 |
2,207.166 |
|
19.248122 |
|
|
414.903 |
|
12/31/16 |
|
|||
|
17.515441 |
496,729.402 |
18.517988 |
2,289.133 |
|
19.039311 |
|
|
398.191 |
|
12/31/15 |
|
|||
|
18.179808 |
545,775.439 |
19.162019 |
2,445.450 |
|
19.671632 |
|
|
382.675 |
|
12/31/14 |
|
|||
|
17.160519 |
592,217.870 |
18.032743 |
2,468.687 |
|
18.484291 |
|
|
366.309 |
|
12/31/13 |
|
|||
|
13.551778 |
664,771.959 |
14.197374 |
6,775.661 |
|
14.530865 |
|
|
279.731 |
|
12/31/12 |
|
|||
|
11.446628 |
732,998.451 |
11.955353 |
6,529.621 |
|
12.217572 |
|
|
317.551 |
|
12/31/11 |
|
|||
|
13.458370 |
829,951.849 |
14.013887 |
6,397.044 |
|
14.299594 |
|
|
294.411 |
|
12/31/10 |
|
|||
62
|
|
|
|
Number of |
Enhanced Group |
Number of |
|
|
|
|
Number of |
|
Enhanced Group |
|
|||
|
|
|
Enhanced |
with |
|
|||
|
Standard |
Standard |
Enhanced Group |
with |
|
|||
|
Group |
Administration |
|
|||||
|
Accumulation |
Accumulation |
Accumulation |
Administration |
Year |
|||
|
Accumulation |
Charges Waived |
||||||
|
Unit Value |
Units |
Unit Value |
Charges Waived |
|
|||
|
Units |
Accumulation |
|
|||||
|
|
Outstanding |
|
Accumulation |
|
|||
|
|
|
Outstanding |
Unit Value |
|
|||
|
|
|
|
Units Outstanding |
|
|||
|
|
|
|
|
|
|
||
|
The Timothy Plan - Timothy Plan Conservative Growth Variable Series (Inception Date 5/1/2002) |
|
|
|||||
|
15.878974 |
41,394.324 |
16.753340 |
0.000 |
17.207039 |
0.000 |
12/31/19 |
|
|
13.921897 |
42,323.851 |
14.643909 |
0.000 |
15.017721 |
0.000 |
12/31/18 |
|
|
15.477896 |
50,477.858 |
16.230883 |
0.000 |
16.619854 |
0.000 |
12/31/17 |
|
|
14.358193 |
161,904.612 |
15.011147 |
0.000 |
15.347696 |
0.000 |
12/31/16 |
|
|
13.757062 |
166,684.973 |
14.339025 |
0.000 |
14.638316 |
0.000 |
12/31/15 |
|
|
14.368777 |
171,593.195 |
14.931133 |
0.000 |
15.219704 |
0.000 |
12/31/14 |
|
|
14.204086 |
199,342.049 |
14.715168 |
0.000 |
14.976862 |
0.000 |
12/31/13 |
|
|
13.083891 |
190,575.158 |
13.513526 |
0.000 |
13.733046 |
0.000 |
12/31/12 |
|
|
12.311332 |
208,075.572 |
12.676785 |
0.000 |
12.863112 |
0.000 |
12/31/11 |
|
|
12.253392 |
249,890.123 |
12.578925 |
0.000 |
12.744543 |
0.000 |
12/31/10 |
|
|
The Timothy Plan - Timothy Plan Strategic Growth Variable Series (Inception Date 5/1/2002) |
|
|
|||||
|
15.600958 |
45,718.365 |
16.459418 |
0.000 |
16.904879 |
0.000 |
12/31/19 |
|
|
13.209699 |
50,178.348 |
13.894285 |
0.000 |
14.248719 |
0.000 |
12/31/18 |
|
|
15.208588 |
56,554.029 |
15.947899 |
0.000 |
16.329806 |
0.000 |
12/31/17 |
|
|
13.756446 |
182,433.405 |
14.381517 |
0.000 |
14.703695 |
0.000 |
12/31/16 |
|
|
13.227041 |
210,335.013 |
13.786082 |
0.000 |
14.073587 |
0.000 |
12/31/15 |
|
|
13.934005 |
222,875.130 |
14.478810 |
0.000 |
14.758387 |
0.000 |
12/31/14 |
|
|
13.910727 |
249,517.020 |
14.410726 |
0.000 |
14.666741 |
0.000 |
12/31/13 |
|
|
11.940945 |
232,823.335 |
12.332598 |
0.000 |
12.532717 |
0.000 |
12/31/12 |
|
|
10.870014 |
257,828.180 |
11.192284 |
0.000 |
11.356596 |
0.000 |
12/31/11 |
|
|
11.448022 |
283,338.056 |
11.751714 |
0.000 |
11.906237 |
0.000 |
12/31/10 |
|
The above table gives year-end Accumulation Unit information for each Closed Subaccount for each of the last 10 fiscal years through December 31, 2019. This information should be read in conjunction with the Separate Account financial statements including the notes to those statements. The beginning Accumulation Unit Value for each Closed Subaccount was 10.000000 as of its inception date.
63
The Commodore Spirit® (Contract with Death Benefit Rider No Longer Available*)
∙See Appendix C for more information about the Cancelled Death Benefit Rider.
|
Optional Death Benefit |
Number of Optional Death |
Optional Death Benefit |
|
Number of Optional Death |
|
|
|
Benefit (issue age over |
|
|||
|
(issue age 65 and |
Benefit (issue age 65 and |
(issue age over 65/under |
|
|
|
|
|
65/under 79) |
Year |
|||
|
younger) Accumulation |
younger) Accumulation |
79) Accumulation Unit |
|
||
|
|
Accumulation Units |
|
|||
|
Unit Value |
Units Outstanding |
Value |
|
|
|
|
|
Outstanding |
|
|||
|
|
|
|
|
|
|
|
Calamos Advisors Trust - Calamos Growth and Income Portfolio (Inception Date 5/1/2007) |
|
||||
|
18.181889 |
0.000 |
17.834378 |
|
0.000 |
12/31/19 |
|
14.700908 |
0.000 |
14.441887 |
|
0.000 |
12/31/18 |
|
15.610865 |
0.000 |
15.359310 |
|
0.000 |
12/31/17 |
|
13.719647 |
0.000 |
13.519049 |
|
0.000 |
12/31/16 |
|
13.100558 |
0.000 |
12.928668 |
|
0.000 |
12/31/15 |
|
13.152503 |
418.279 |
12.999715 |
|
0.000 |
12/31/14 |
|
12.497481 |
437.513 |
12.371117 |
|
0.000 |
12/31/13 |
|
10.900516 |
1,270.754 |
10.806732 |
|
0.000 |
12/31/12 |
|
10.207208 |
1,258.202 |
10.134885 |
|
0.000 |
12/31/11 |
|
10.560214 |
420.014 |
10.501326 |
|
0.000 |
12/31/10 |
|
Davis Variable Account Fund, Inc. - Davis Value Portfolio (Inception Date 5/1/2007) |
|
|
|||
|
17.702825 |
0.000 |
17.364446 |
|
0.000 |
12/31/19 |
|
13.701792 |
0.000 |
13.460351 |
|
0.000 |
12/31/18 |
|
16.102189 |
0.000 |
15.842690 |
|
0.000 |
12/31/17 |
|
13.330350 |
0.000 |
13.135427 |
|
0.000 |
12/31/16 |
|
12.096048 |
0.000 |
11.937328 |
|
0.000 |
12/31/15 |
|
12.087375 |
0.000 |
11.946943 |
|
0.000 |
12/31/14 |
|
11.570392 |
0.000 |
11.453397 |
|
0.000 |
12/31/13 |
|
8.803671 |
533.904 |
8.727915 |
|
0.000 |
12/31/12 |
|
7.904526 |
533.904 |
7.848506 |
|
0.000 |
12/31/11 |
|
8.374294 |
0.000 |
8.327588 |
|
0.000 |
12/31/10 |
|
Janus Aspen Series - Janus Henderson VIT Global Research Portfolio (formerly Janus Aspen Global Research Portfolio)-Institutional |
|||||
|
Shares (Inception Date 7/15/1997) |
|
|
|
|
|
|
25.217393 |
0.000 |
24.376430 |
|
0.000 |
12/31/19 |
|
19.839395 |
0.000 |
19.206981 |
|
0.000 |
12/31/18 |
|
21.628509 |
0.000 |
20.971161 |
|
0.000 |
12/31/17 |
|
17.285041 |
0.000 |
16.785137 |
|
0.000 |
12/31/16 |
|
17.193039 |
75.989 |
16.721243 |
|
0.000 |
12/31/15 |
|
17.863305 |
76.388 |
17.399595 |
|
0.000 |
12/31/14 |
|
16.878876 |
76.792 |
16.465770 |
|
0.000 |
12/31/13 |
|
13.342878 |
77.269 |
13.036141 |
|
0.000 |
12/31/12 |
|
11.281669 |
1,123.593 |
11.039187 |
|
0.000 |
12/31/11 |
|
13.277895 |
1,124.204 |
13.012271 |
|
0.000 |
12/31/10 |
|
The Timothy Plan - Timothy Plan Conservative Growth Variable Series (Inception Date 5/1/2002) |
|
||||
|
15.597572 |
44.387 |
15.184693 |
|
0.000 |
12/31/19 |
|
13.689058 |
45.338 |
13.347001 |
|
0.000 |
12/31/18 |
|
15.234580 |
46.402 |
14.876671 |
|
0.000 |
12/31/17 |
|
14.146782 |
47.375 |
13.835403 |
|
0.000 |
12/31/16 |
|
13.568262 |
48.420 |
13.289823 |
|
0.000 |
12/31/15 |
|
14.185980 |
245.597 |
13.916032 |
|
0.000 |
12/31/14 |
|
14.037624 |
216.944 |
13.791484 |
|
0.000 |
12/31/13 |
|
12.943681 |
186.410 |
12.736101 |
|
0.000 |
12/31/12 |
|
12.191822 |
206.643 |
12.014667 |
|
0.000 |
12/31/11 |
|
12.146740 |
3,047.096 |
11.988431 |
|
0.000 |
12/31/10 |
|
The Timothy Plan - Timothy Plan Strategic Growth Variable Series (Inception Date 5/1/2002) |
|
||||
|
15.324599 |
47.247 |
14.919234 |
|
0.000 |
12/31/19 |
|
12.988867 |
48.260 |
12.664550 |
|
0.000 |
12/31/18 |
|
14.969620 |
49.392 |
14.618229 |
|
0.000 |
12/31/17 |
|
13.554009 |
50.429 |
13.255943 |
|
0.000 |
12/31/16 |
|
13.045617 |
51.541 |
12.778165 |
|
0.000 |
12/31/15 |
|
13.756845 |
262.511 |
13.495353 |
|
0.000 |
12/31/14 |
|
13.747812 |
233.163 |
13.507042 |
|
0.000 |
12/31/13 |
|
11.813071 |
200.896 |
11.623867 |
|
0.000 |
12/31/12 |
|
10.764584 |
221.400 |
10.608383 |
|
0.000 |
12/31/11 |
|
11.348485 |
185.018 |
11.200818 |
|
0.000 |
12/31/10 |
64
The above table gives year-end Accumulation Unit information for each Closed Subaccount for each of the last 10 fiscal years (or the effective date of the Subaccount, if later) to December 31, 2019. This information should be read in conjunction with the Separate Account financial statements including the notes to those statements. The beginning Accumulation Unit Value for each Closed Subaccount was 10.000000 as of its inception date.
65