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, 2016, and 2015.



Area		Assumptions/Basis for Assumptions
Data Used		Based on 1,050 investment performance scenarios
Mean Investment Performance		Equity: 7% - 13% Fixed, Bond, Money Market Fund: level 0% - 10%
Volatility		Equity: 10% - 35% Fixed, Bond, Money Market Fund: 0% - 9%
Mortality		Based on the 1994 VA MGDB Mortality Table
Lapse Rates		Lapse Rates vary by duration and surrender charge
Discount Rates		5%

The assumptions and techniques for valuing the GLWB reserve is disclosed within Note 8 and are identical to those used for valuing the GLWB embedded derivative.

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, 2016, and 2015, were as follows:



	GMDB		GLWB		Total
December 31, 2016
Separate account liability	$	55,607	$	413,569	$	469,176
Net amount at risk, net of reinsurance	$	25,891	$	2,941	$	28,832
Weighted average attained age	71		58		N/A

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

The paid and incurred amounts for GMDB and GLWB for the years ended December 31, 2016, 2015, and 2014 were as follows:



	GMDB			GLWB			Total
Additional liability balance:
Balances, January 1, 2014	$	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
Incurred guaranteed benefits	132			(2,740		)	(2,608		)
Paid guaranteed benefits	(503		)	—			(503		)
Balances, December 31, 2016	$	5,096		$	2,073		$	7,169

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



	December 31, 2016		December 31, 2015
Equity securities - GMDB	$	55,605	$	55,997
Equity securities - GLWB	412,977		209,828
Total	$	468,582	$	265,825