Minimum Guarantees

The Company calculates additional liabilities for GMDB and GLWB. The following assumptions and methodology were used to determine GMDB additional reserves at December 31, 2015, and 2014.



Area		Assumptions/Basis for Assumptions
Data Used		Based on 1,050 investment performance scenarios
Mean Investment Performance		Investment performance modeled in 3 classes: Regular Equity - 10% Aggressive Equity - 12% Fixed, Bond, Money Market Fund: level 3%
Volatility		Volatility modeled in 3 classes: Regular Equity - 23% Aggressive Equity - 33% Fixed, Bond, Money Market Fund: None
Mortality		Based on the 1994 VA MGDB Mortality Table
Lapse Rates		Lapse Rates vary by duration and surrender charge
Discount Rates		5%

The following assumptions and methodology were used to determine GLWB additional reserves at December 31, 2015.



		December 31, 2015
Area		Assumptions/Basis for Assumptions
Equity volatility		15% - 28%
Swap curve		0.75% - 3.00%
Mortality rate		Based on the Annuity 2000 Mortality Table
Lapse rate		1% - 15%

The separate account liabilities subject to the requirements for additional liabilities for GMDB and GLWB, net amount at risk, net of reinsurance, and the weighted average attained age of contract owners for GMDB and GLWB at December 31, 2015, and 2014, were as follows:



	GMDB		GLWB	Total
December 31, 2015
Separate account liability	$	55,999	210,240	266,239
Net amount at risk, net of reinsurance	$	29,050	7,582	36,632
Weighted average attained age	70		57	N/A

December 31, 2014
Separate account liability	$	60,388	—	60,388
Net amount at risk, net of reinsurance	$	30,095	—	30,095
Weighted average attained age	69		N/A	N/A

The paid and incurred amounts for GMDB and GLWB for the years ended December 31, 2015, 2014, and 2013 were as follows:



	GMDB		GLWB	Total
Additional liability balance:
Balances, January 1, 2013	6,928		—	6,928
Incurred guaranteed benefits	(135	)	—	(135	)
Paid guaranteed benefits	(800	)	—	(800	)
Balances, December 31, 2013	5,993		—	5,993
Incurred guaranteed benefits	305		—	305
Paid guaranteed benefits	(732	)	—	(732	)
Balances, December 31, 2014	5,566		—	5,566
Incurred guaranteed benefits	821		4,813	5,634
Paid guaranteed benefits	(920	)	—	(920	)
Balances, December 31, 2015	5,467		4,813	10,280

The aggregate fair value of equity securities supporting separate accounts with GMDB and GLWB were as follows:



	December 31, 2015		December 31, 2014
Equity securities - GMDB	$	55,997	$	60,368
Equity securities - GLWB	209,828		—
Total	265,825		60,368