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As Of Filer Filing For·On·As Docs:Size Issuer Agent 6/20/03 Jnlny Separate Account I 485APOS 11:688K JNL Series Trust Jnlny Separate Account I |
Document/Exhibit Description Pages Size 1: 485APOS Post-Effective Amendment HTML 469K 9: EX-99 Ex-99.4.Aa. HTML 101K 2: EX-99 Ex-99.4.T. HTML 8K 3: EX-99 Ex-99.4.U. HTML 22K 4: EX-99 Ex-99.4.V. HTML 13K 5: EX-99 Ex-99.4.W. HTML 13K 6: EX-99 Ex-99.4.X. HTML 10K 7: EX-99 Ex-99.4.Y. HTML 7K 8: EX-99 Ex-99.4.Z. HTML 8K 10: EX-99 Ex-99.5.C. HTML 40K 11: EX-99 Ex-99.9 HTML 10K
| JNLNY PII PEA #6; EX-99.4.u. 7365NY 04/03 |
This endorsement is made a part of the Contract to which it is attached and is effective on the Issue Date. To the extent any provisions contained in this endorsement are contrary to or inconsistent with those of the Contract to which it is attached, the provisions of this endorsement will control. This Guaranteed Minimum Income Benefit (also referred to as the GMIB) may only be elected prior to the Issue Date, and only if the Annuitant is not older than age 75 on the Issue Date.
Once elected, the GMIB cannot be terminated except as provided in the Termination of the GMIB provision below.
Guaranteed Minimum Income Benefit (GMIB) Charge: |
On a calendar quarter basis, this charge equals [determined at issue currently .1125%] of the GMIB Benefit Base, and is deducted (i) from the Contract Value at the end of each calendar quarter; and (ii) upon termination of the GMIB on a pro rata basis, using the GMIB Benefit Base as of the date of termination and the number of days since the last deduction.” |
“EXERCISE DATE. The Business Day that You elect Your annuity payments to begin under this endorsement. This date can only be on or during the 30-calendar day period following the 10th Contract Anniversary or on or during the 30-calendar day period following each subsequent Contract Anniversary thereafter, but in no event later than the Contract Anniversary immediately following the Annuitant’s 85th birthday.
GMIB BENEFIT BASE. The GMIB Benefit Base will be determined at the end of any Business Day, and is equal to the greater of:
7365NY 03/03
compounded at an annual interest rate of 6% from the Issue Date until the earlier of the Annuitant's 80th birthday or the Exercise Date; or
For purposes of calculating the GMIB Benefit Base, (a) all adjustments will occur at the time of the withdrawal, Premium payment, or deductions of the Annual Contract Maintenance Charge, Transfer Charge, any applicable charges due to optional endorsements or taxes, and (b) all adjustments for amounts withdrawn will reduce the GMIB Benefit Base in the same proportion that the Contract Value was reduced on the date of such withdrawal.
The GMIB Benefit Base shall never exceed 200% of Premiums paid into the Contract (net of any applicable premium taxes and excluding Premium paid in the 12 months prior to the Exercise Date), less any withdrawals and any applicable Contract charges assessed and adjustments to such withdrawals, Annual Contract Maintenance Charges, Transfer Charges and any applicable charges due under any optional endorsement to the Contract, and taxes incurred since the issuance of the Contract.
The GMIB Benefit Base is used only in connection with the determination of the GMIB, does not affect other Contract endorsements, and is not reflective of the Contract Value.”
The minimum values for annuity, cash surrender or death benefits attributable to the Fixed Account Option of the Contract are based on the Fixed Account Contract Value in the Fixed Account Option and not the GMIB Benefit Base.”
The following provision is added to the INCOME PROVISIONS.
“GUARANTEED MINIMUM INCOME BENEFIT (GMIB). You have the option of taking the GMIB instead of the other income options described in the INCOME PROVISIONS of the Contract. Your monthly income option payments will be the GMIB Benefit Base on the Exercise Date applied to the annuity rates based upon the Table of Guaranteed Annuity Purchase Rates attached to this endorsement. The Guaranteed Annuity Purchase Rates under the GMIB endorsement will be lower than those attached to the Contract.
7365NY 03/03 2
If you elect to use the GMIB, you may choose any life contingent fixed annuity payment income option described in the Contract. Such fixed annuity payment income options include:
No other income options will be available.
BASIS OF COMPUTATION. The actuarial basis for the Table of Guaranteed Annuity Purchase Rates shall be a 10-year setback of the Annuity 2000 Mortality Table, with an interest rate of 2.5%, and a 2% expense load. This table does not include any applicable tax.
Assessment of GMIB Charge. The GMIB Charge is as specified above. This charge will be deducted at the end of each calendar quarter after the Issue Date on a pro rata basis from the Separate Account Contract Value and the Fixed Account Contract Value. The first GMIB Charge will be assessed on a pro rata basis from the Issue Date to the end of the first calendar quarter after the Issue Date. GMIB Charges are applied to the Separate Account Contract Value resulting in a redemption of Accumulation Units. The GMIB Charge will not affect the value of the Accumulation Units.
Upon termination of the GMIB, a pro rata GMIB Charge will be assessed against Your Contract Value for the period since the last quarterly GMIB Charge.
Death of the Owner or Annuitant. If You are also the Annuitant, and You die and Your spouse continues the Contract, Your spouse will become the Annuitant and will continue to be eligible for the GMIB; as long as Your spouse would have been eligible as an Annuitant on the Issue Date under the terms of this GMIB endorsement and is not age 85 or older. If Your spouse would not have been eligible as an Annuitant on the Issue Date under the terms of this endorsement or is age 85 or older, the GMIB Charge will be discontinued, and the GMIB endorsement shall immediately terminate, and Your spouse will not receive the GMIB hereunder.
If the Owner (assuming the Owner is a natural person) and the Annuitant are not the same person and the Annuitant dies, You may select a new Annuitant; as long as the new Annuitant would have been eligible as an Annuitant on the Issue Date under the terms of this endorsement and is not age 85 or older. If the new Annuitant would not have been eligible as an Annuitant on the Issue Date under the terms of this endorsement or is age 85 or older, the GMIB Charge will be discontinued, and the GMIB endorsement shall immediately terminate, and You will not receive the GMIB hereunder.
The Contract to which this endorsement is attached is hereby amended under this endorsement to limit the Owner’s right to change/or select a new Annuitant as provided for in the immediately preceding paragraph.
7365NY 03/03 3
Termination of the GMIB. Prior to the exercise of the GMIB, the GMIB will terminate and not be payable under this endorsement on the earlier of:
Once the GMIB is elected, payments will continue as defined by the income option selected.
Limitations and Restrictions --- Please read carefully
7365NY 03/03 4
The following table is for a GMIB Benefit Base of $1,000 and will apply pro rata to the actual GMIB Benefit Base calculated under this endorsement.
------------------------------------------------------------
Monthly Monthly
Installments Installments
----------------- -----------------
Age of Life w/ Age of Life w/
Annuitant Life 120 mos. Annuitant Life 120 mos.
Unisex Only Certain Unisex Only Certain
------------------------------------------------------------
40 2.78 2.78 70 4.39 4.33
41 2.81 2.81 71 4.50 4.43
42 2.84 2.83 72 4.62 4.54
43 2.86 2.86 73 4.75 4.65
44 2.89 2.89 74 4.88 4.77
45 2.92 2.92 75 5.02 4.89
46 2.95 2.95 76 5.18 5.02
47 2.99 2.98 77 5.34 5.16
48 3.02 3.02 78 5.51 5.30
49 3.06 3.05 79 5.70 5.45
50 3.09 3.09 80 5.90 5.61
51 3.13 3.13 81 6.12 5.77
52 3.17 3.17 82 6.35 5.94
53 3.22 3.21 83 6.60 6.12
54 3.26 3.25 84 6.87 6.30
55 3.31 3.30 85 7.16 6.48
56 3.36 3.35 86 7.47 6.67
57 3.41 3.40 87 7.80 6.86
58 3.47 3.45 88 8.16 7.05
59 3.52 3.51 89 8.55 7.23
60 3.58 3.56 90 8.97 7.42
61 3.65 3.63 91 9.43 7.60
62 3.71 3.69 92 9.92 7.77
63 3.78 3.76 93 10.44 7.94
64 3.86 3.83 94 11.01 8.10
65 3.93 3.90 95 11.62 8.24
66 4.01 3.98 96 12.28 8.38
67 4.10 4.06 97 12.98 8.50
68 4.19 4.14 98 13.73 8.61
69 4.29 4.24 99 14.52 8.71
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Note: Due to the length of the information, the Table for the Joint and Survivor income option and the Joint and Survivor Life Annuity with 120 Monthly Periods Fixed income option is available from the Service Center upon Your request.
7365NY-U 03/03 5
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/25/24 Jnlny Separate Account I 485BPOS 4/29/24 3:6.1M 4/27/23 Jnlny Separate Account I 485BPOS 5/01/23 3:5.9M 4/21/22 Jnlny Separate Account I 485BPOS 4/25/22 3:6M 4/22/21 Jnlny Separate Account I 485BPOS 4/26/21 3:27M |