As Filed with the Securities and Exchange Commission on April 27, 2020 

REGISTRATION NO. 333-83362 

811-05846 

SECURITIES AND EXCHANGE COMMISSION
 

FORM N-4 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 

Post-Effective Amendment No. 46 

and 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 

Amendment No. 144 

DELAWARE LIFE VARIABLE ACCOUNT F 

(Exact Name of Registrant) 

DELAWARE LIFE INSURANCE COMPANY 

(Name of Depositor) 

1601 Trapelo Road, Suite 30
Waltham, Massachusetts 02451
(Address of Depositor's Principal Executive Offices) 

Depositor's Telephone Number: (844) 448-3519 

Michael S. Bloom, Senior Vice President and General Counsel
Delaware Life Insurance Company
1601 Trapelo Road, Suite 30
Waltham, Massachusetts 02451
(Name and Address of Agent for Service) 

It is proposed that this filing will become effective (check appropriate box)

£ immediately upon filing pursuant to paragraph (b) of Rule 485
R on April 29, 2020 pursuant to paragraph (b) of Rule 485
£ 60 days after filing pursuant to paragraph (a)(1) of Rule 485
£ on (date) pursuant to paragraph (a)(1) of Rule 485.
 

If appropriate, check the following box: 

£ this post-effective amendment designates a new effective date for a previously filed post-effective amendment. 

Title of Securities Being Registered: Flexible Premium Deferred Variable Annuity Contracts. 

No filing fee is due because an indefinite amount of securities is deemed to have been registered in reliance on Section 24(f) of the Investment Company Act of 1940. 

PART A 

APRIL 29, 2020

MASTERS EXTRA PROSPECTUS

Delaware Life Insurance Company and Delaware Life Variable Account F offer the flexible payment deferred annuity contracts and certificates described in this Prospectus to groups and individuals. The contracts and certificates described in this Prospectus are no longer available for sale. This Contract offers bonus credits on Purchase Payments and the costs of this Contract may be higher than the costs of Contracts that do not offer bonus credits. The amount of interest credited on this Contract may be more than offset by the higher charges associated with the interest credited. You may choose among a number of variable investment options and, when available, fixed interest options. Currently no fixed interest options are available other than those included in our dollar-cost averaging program. (See “Other Programs.”) The variable options are Sub-Accounts in the Variable Account, each of which invests in shares of one of the following funds (the “Funds”):

Large-Cap Equity Funds

Columbia Variable Portfolio - Large Cap Growth Fund, Class 2

CTIVP^SM - Loomis Sayles Growth Fund, Class 2

Fidelity^® Contrafund^® Portfolio, Service Class 2 (of Variable Insurance Products Fund II)

Franklin Mutual Shares VIP Fund, Class 2

Invesco Oppenheimer V.I. Capital Appreciation Fund, Series II

Invesco V.I. Comstock Fund, Series II

JPMorgan Insurance Trust U.S. Equity Portfolio, Class 2

Lord Abbett Series Fund, Inc. - Fundamental Equity Portfolio, Class VC

MFS^® Core Equity Portfolio, Service Class

MFS^® Growth Series, Service Class

MFS^® Research Series, Service Class

MFS^® Value Series, Service Class

Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio, Class II

Putnam VT Equity Income Fund, Class IB

Rational Trend Aggregation VA Fund

Mid-Cap Equity Funds

Fidelity^® Mid Cap Portfolio, Service Class 2 (of Variable Insurance Products Fund III)

Invesco V.I. American Value Fund, Series II

Lord Abbett Series Fund, Inc. - Growth Opportunities Portfolio, Class VC

MFS^® Mid Cap Growth Series, Service Class

MFS^® Mid Cap Value Portfolio, Service Class

Morgan Stanley Variable Insurance Fund, Inc. Discovery Portfolio, Class II

Small/Mid-Cap Equity Fund

AB Small/Mid Cap Value Portfolio, Class B

Small-Cap Equity Funds

Franklin Small Cap Value VIP Fund, Class 2

MFS^® Blended Research Small Cap Equity Portfolio, Service Class

MFS^® New Discovery Series, Service Class

MFS^® New Discovery Value Portfolio, Service Class

Rational Insider Buying VA Fund

International/Global Equity Funds

AB International Growth Portfolio, Class B

Columbia Variable Portfolio - Overseas Core Fund Class 2

First Eagle Overseas Variable Fund

Invesco Oppenheimer V.I. Global Fund, Series II

Invesco V.I. International Growth Fund, Series II

MFS^® International Growth Portfolio, Service Class

MFS^® International Intrinsic Value Portfolio, Service Class

MFS^® Research International Portfolio, Service Class

PIMCO StocksPLUS^® Global Portfolio, Advisor Class

Templeton Growth VIP Fund, Class 2

Emerging Markets Equity Funds

Lazard Retirement Emerging Markets Equity Portfolio, Service Class

MFS^® Emerging Markets Equity Portfolio, Service Class

Specialty Sector Equity Fund

MFS^® Utilities Series, Service Class

Specialty Sector Commodity Fund

PIMCO CommodityRealReturn^® Strategy Portfolio, Administrative Class

Real Estate Equity Fund

MFS^® Global Real Estate Portfolio, Service Class

Asset Allocation Funds

AB Balanced Wealth Strategy Portfolio, Class B

AB Dynamic Asset Allocation Portfolio, Class B

BlackRock Global Allocation V.I. Fund, Class III

Fidelity^® Balanced Portfolio, Service Class 2 (of Variable Insurance Products Fund III)

Franklin Income VIP Fund, Class 2

Invesco V.I. Equity and Income Fund, Series II

MFS^® Conservative Allocation Portfolio, Service Class

MFS^® Global Tactical Allocation Portfolio, Service Class

MFS^® Growth Allocation Portfolio, Service Class

MFS^® Moderate Allocation Portfolio, Service Class

MFS^® Total Return Series, Service Class

PIMCO All Asset Portfolio, Administrative Class

PIMCO Global Managed Asset Allocation Portfolio, Advisor Class

Putnam VT Multi-Asset Absolute Return Fund, Class IB

Target Date Funds

Fidelity^® Freedom 2015 Portfolio, Service Class 2 (of Variable Insurance Products Fund IV)

Fidelity^® Freedom 2020 Portfolio, Service Class 2 (of Variable Insurance Products Fund IV)

Money Market Fund

MFS^® U.S. Government Money Market Portfolio, Service Class

Global Bond Fund

Templeton Global Bond VIP Fund, Class 4

Short-Term Bond Fund

MFS^® Limited Maturity Portfolio, Service Class

Intermediate-Term Bond Funds

JPMorgan Insurance Trust Core Bond Portfolio, Class 2

MFS^® Corporate Bond Portfolio, Service Class

MFS^® Government Securities Portfolio, Service Class

MFS^® Total Return Bond Series, Service Class

Inflation Adjusted Bond Fund

MFS^® Inflation-Adjusted Bond Portfolio, Service Class

Multi-Sector Bond Fund

Franklin Strategic Income VIP Fund, Class 2

High Yield Bond Fund

MFS^® High Yield Portfolio, Service Class

Emerging Markets Bond Fund

PIMCO Emerging Markets Bond Portfolio, Administrative Class

Not all Funds may be available as an investment option under your Contract. Please see “Variable Account Options: The Funds.”

We have filed a Statement of Additional Information dated April 29, 2020 (the “SAI”) with the Securities and Exchange Commission (the “SEC”), which is incorporated by reference in this Prospectus. The table of contents for the SAI is on page 75 of this Prospectus. You may obtain a copy without charge by writing to us at our Service Address or by telephoning (877) 253-2323. In addition, you can inspect and copy all of our filings at the SEC’s public reference facilities at: 100 F Street, N.E., Washington, D.C. 20549-0102, telephone (202) 551-8090. The SEC will provide copies by mail for a fee. The SEC also has a website (www.sec.gov) that contains the SAI, material incorporated by reference, and other information regarding companies that file with the SEC.

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the shareholder reports for the Funds available under your Contract or Certificate 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 have 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 calling us at (877) 253-2323.

You may elect to receive all future reports in paper form free of charge. You can inform us that you wish to continue receiving paper copies of your shareholder reports by calling us at (877) 253-2323. Your election to receive reports in paper form will apply to all Funds available under your Contract or Certificate.

The Contracts are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other agency. The SEC has not approved or disapproved these securities or passed upon the accuracy or adequacy of this Prospectus. Any representation to the contrary is a criminal offense. Please read this Prospectus and the Fund prospectuses carefully before investing and keep them for future reference. They contain important information about the Contracts and the Funds.

Any reference in this Prospectus to receipt by us means receipt at our Service Address: DELAWARE LIFE INSURANCE COMPANY, P.O. Box 758581 Topeka, KS 66675-8581

Overnight Mailing Service Address:	Delaware Life Insurance Company
	Mail Zone 581
	5801 S.W. 6th Avenue
	Topeka, KS 66636

TABLE OF CONTENTS

SPECIAL TERMS	1
PRODUCT HIGHLIGHTS	1
FEES AND EXPENSES	5
EXAMPLE	8
CONDENSED FINANCIAL INFORMATION	8
THE ANNUITY CONTRACT	9
COMMUNICATING TO US ABOUT YOUR CONTRACT	10
Electronic Account Information	10
DELAWARE LIFE INSURANCE COMPANY	10
THE VARIABLE ACCOUNT	10
VARIABLE ACCOUNT OPTIONS: THE FUNDS	11
Selection of Funds	14
Payments We Receive	14
THE FIXED ACCOUNT	15
THE FIXED ACCOUNT OPTIONS: THE GUARANTEE PERIODS	15
Guarantee Periods	15
Guaranteed Interest Rates	16
Early Withdrawals	16
THE ACCUMULATION PHASE	16
Issuing Your Contract	16
Amount and Frequency of Purchase Payments	16
Allocation of Net Purchase Payments	17
Your Account	17
Your Account Value	17
Purchase Payment Interest	17
Variable Account Value	18
Fixed Account Value	19
Transfer Privilege	20
Waivers; Reduced Charges; Credits; Special Guaranteed Interest Rates	23
Other Programs	23
WITHDRAWALS, WITHDRAWAL CHARGES, AND MARKET VALUE ADJUSTMENT	26
Cash Withdrawals	26
Withdrawal Charge	28
Types of Withdrawals not Subject to Withdrawal Charge	29
Market Value Adjustment	30
CONTRACT CHARGES	31
Account Fee	31
Administrative Expense Charge and Distribution Fee	31
Mortality and Expense Risk Charge	32
Charges for Optional Benefits	32
Premium Taxes	33
Fund Expenses and Restrictions	33
Modification in the Case of Group Contracts	33

OPTIONAL LIVING BENEFIT: INCOME RISER	33
Determining Your Withdrawal Benefit Base	35
Determining Your Annual Withdrawal Amount	35
How SIR Works	36
Withdrawals Under SIR	37
Cost of SIR	41
Step-Up Under SIR	41
Joint-Life Coverage	43
Cancellation of SIR	44
Death of Participant Under SIR with Single-Life Coverage	44
Death of Participant Under SIR with Joint-Life Coverage	44
Annuitization Under SIR	45
Tax Issues Under SIR	45
DESIGNATED FUNDS	46
BUILD YOUR OWN PORTFOLIO	48
DEATH BENEFIT	49
Amount of Death Benefit	49
The Basic Death Benefit	49
Optional Death Benefit	49
Spousal Continuance	50
Calculating the Death Benefit	50
Method of Paying Death Benefit	51
Qualified Contracts	51
Non-Qualified Contracts	51
Selection and Change of Beneficiary	52
Payment of Death Benefit	52
THE INCOME PHASE - ANNUITY PROVISIONS	52
Selection of Annuitant(s)	53
Selection of the Annuity Commencement Date	53
Annuity Options	53
Selection of Annuity Option	54
Amount of Annuity Payments	55
Transfer of Variable Annuity Units	56
Account Fee	56
Annuity Payment Rates	56
Annuity Options as Method of Payment for Death Benefit	57
OTHER CONTRACT PROVISIONS	57
Exercise of Contract Rights	57
Change of Ownership	57
Voting of Fund Shares	57
Reports to Owners	58
Substitution of Securities	58
Change in Operation of Variable Account	59
Splitting Units	59
Modification	59
Discontinuance of New Participants	59
Reservation of Rights	59
Right to Return	60
TAX PROVISIONS	60
U.S. Federal Income Tax Provisions	60
Puerto Rico Tax Provisions	70
ADMINISTRATION OF THE CONTRACT	71
Business Disruption and Cyber Security Risks	71
DISTRIBUTION OF THE CONTRACT	72
AVAILABLE INFORMATION	73

STATE REGULATION	74
LEGAL PROCEEDINGS	74
FINANCIAL STATEMENTS	74
TABLE OF CONTENTS OF STATEMENT OF ADDITIONAL INFORMATION	75
APPENDIX A - GLOSSARY	76
APPENDIX B - WITHDRAWALS, WITHDRAWAL CHARGES,  & MARKET VALUE ADJUSTMENT	80
APPENDIX C - PREVIOUSLY AVAILABLE OPTIONAL DEATH BENEFITS AND EXAMPLES	83
APPENDIX D - CALCULATION FOR PURCHASE PAYMENT INTEREST	88
APPENDIX E - CALCULATION OF FREE WITHDRAWAL AMOUNT	91
APPENDIX F - PREVIOUSLY AVAILABLE INVESTMENT OPTIONS	94
APPENDIX G - SECURED RETURNS FOR LIFE	96
APPENDIX H - SECURED RETURNS	115
APPENDIX I - SECURED RETURNS 2	121
APPENDIX J - SECURED RETURNS FOR LIFE PLUS SM	130
APPENDIX K - RETIREMENT INCOME ESCALATORSM	162
APPENDIX L - Income ON Demand®	174
APPENDIX M - Income ON Demand® II	185
APPENDIX N - Income ON Demand® II Plus	198
APPENDIX O - RETIREMENT INCOME ESCALATORSM II	214
APPENDIX P - Income ON Demand® II Escalator	229
APPENDIX Q - RETIREMENT ASSET PROTECTORSM	244
APPENDIX R - Income ON Demand® III Escalator	249
APPENDIX S - BUILD YOUR OWN PORTFOLIO	262
APPENDIX T - CONDENSED FINANCIAL INFORMATION	270

SPECIAL TERMS

Your Contract is a legal document that uses a number of specially defined terms. We explain most of the capitalized terms that we use in this Prospectus in the context where they arise, and some are self-explanatory. In addition, for convenient reference, we have compiled a list of these capitalized terms in the Glossary included at the back of this Prospectus as Appendix A. If, while you are reading this Prospectus, you come across a capitalized term that you do not understand, please refer to the Glossary for an explanation.

PRODUCT HIGHLIGHTS

The headings in this section correspond to headings in the Prospectus under which we discuss these topics in more detail.

The Annuity Contract

The Masters Extra Contract provides a number of important benefits for your retirement planning. You are eligible to purchase a Contract if you are age 85 or younger on the Open Date. During the Accumulation Phase, you make Purchase Payments under the Contract and allocate them to one or more of the Variable Account options or, if available, the Fixed Account options. During the Income Phase, we make annuity payments to you or someone else based on the amount you have accumulated. The Contract provides tax-deferral so that you do not pay taxes on your earnings until you withdraw them. When purchased in connection with a tax-qualified plan, the Contract provides no additional tax-deferral benefits because tax-qualified plans confer their own tax-deferral. The Contract also provides a basic death benefit if you die during the Accumulation Phase. You may enhance the basic death benefit by purchasing the optional death benefit, at an additional cost, if you are younger than age 75 on the Open Date.

The Accumulation Phase

Under most circumstances, you can buy the Contract with an initial Purchase Payment of $10,000 or the maximum annual Individual Retirement Annuity contribution, unless we waive these limits. You can make additional Purchase Payments at any time during the Accumulation Phase. Currently, there is no minimum amount required for additional Purchase Payments. However, we reserve the right to require that each additional Purchase Payment be at least $1,000. We will not accept, without our prior approval, a Purchase Payment if your Account Value is over $2 million or, if the Purchase Payment would cause your Account Value to exceed $2 million. In addition, we will credit your Contract with interest, which we refer to as “Purchase Payment Interest,” at a rate that varies based upon the interest option you choose when you apply for your Contract. Not all interest options may be available in all states; and the rates credited may vary by state. These general requirements for Purchase Payments apply even if you elect an optional living benefit. In addition, there are other restrictions on the frequency of Purchase Payments that apply depending upon which optional living benefit you selected. Any Purchase Payments received under an optional living benefit with such restrictions will be deemed “not in Good Order” and returned to you.

Variable Account Options: The Funds

You can allocate your Purchase Payments among the Sub-Accounts investing in a number of Fund options. You may also transfer among the Funds and, if available, the Fixed Account Options. Each Fund is either a mutual fund registered under the Investment Company Act of 1940 or a separate securities portfolio of shares of such a mutual fund. The investment returns on the Funds are not guaranteed. You can make or lose money.

The Fixed Account Options: The Guarantee Periods

From time to time, we make Fixed Account options available. When we do, you can allocate your Purchase Payments to the Fixed Account and elect to invest in one or more of the available Guarantee Periods. Each Guarantee Period earns interest at a Guaranteed Interest Rate that we publish. We may change the Guaranteed Interest Rate from time to time, but no Guaranteed Interest Rate will ever be less than the minimum guaranteed rate required by law. Once we

1

have accepted your allocation to a particular Guarantee Period, we promise that the Guaranteed Interest Rate applicable to that allocation will not change for the duration of the Guarantee Period. We may offer Guarantee Periods of different durations or stop offering some Guarantee Periods. Once we stop offering a Guarantee Period of a particular duration, future allocations, transfers or renewals into that Guarantee Period will not be permitted. On May 4, 2009, we stopped accepting any investments (Purchase Payments, transfers, renewals) into any Guarantee Periods, other than in connection with our dollar-cost averaging program.

Fees and Expenses

The Contract has insurance features and investment features, and there are costs related to each.

If your Account Value is less than $100,000 on your Account Anniversary, we deduct a $50 Annual Account Fee. We will waive the Account Fee if your Contract was fully invested in the Fixed Account during the entire Account Year, or if your Account Value is $100,000 or more on your Account Anniversary.

During the Accumulation Phase, we deduct a mortality and expense risk charge at an annual rate of 1.40% of the average daily value of the Contract invested in the Variable Account. If you purchased your Contract prior to March 5, 2007, and you were 76 years or older on the Open Date, we deduct this charge at an annual rate of 1.60% of the average daily value of the Contract invested in the Variable Account.

We also deduct an administrative charge at an annual rate of 0.15% of the average daily value and a distribution fee at an annual rate of 0.15% of the average daily value of the Contract invested in the Variable Account.

If you take more than a specified amount of money out of your Contract, we assess a withdrawal charge against each Purchase Payment withdrawn. For each Purchase Payment, the withdrawal charge (also known as a “contingent deferred sales charge”) starts at 8% and declines to 0% after the Purchase Payment has been in the Contract for seven complete Account Years.

Currently, you can transfer your Account value among the underlying Funds free of charge. However, we reserve the right to impose a charge of up to $15 per transfer. We limit the number of your Fund transfers to 12 per year. (See “Transfer Privilege.”)

If you elect the optional death benefit, we will deduct, during the Accumulation Phase, an additional charge from the assets of the Variable Account at an annual rate of 0.40% of the average daily value of your Contract.

If you elect the optional living benefit, we will assess a periodic charge. The annual amount of the charge in no case exceeds 1.30% of the highest benefit base during the Account Year.

In addition to the charges we impose under the Contract, there are also charges (which include management fees and operating expenses) imposed by the Funds. The charges vary depending upon which Fund(s) you have selected.

Optional Living Benefits

At issue, you may choose to participate in the optional living benefit available under your Contract. Income Riser offers a guaranteed withdrawal benefit with an opportunity for a bonus to be added to your benefit base if you defer taking withdrawals during a specified time period under your Contract.

Income Riser is available only if you are age 85 or younger on the Open Date. If you purchase Income Riser, your investment choices are limited to the Designated Funds. In addition, a change of ownership may also terminate Income Riser. Under Income Riser, you may make Purchase Payments only during your first Account Year. Any Purchase Payments received after your first Account Anniversary will be deemed “not in Good Order” and returned to you. Income Riser allows you to “step-up” your guaranteed amount on an annual basis, if eligible. Income Riser may not be available in all states.

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In addition to the currently available optional living benefit listed above, twelve other optional living benefits were previously available. Although these optional living benefits are no longer being issued, they are still in force under many Contracts that are already outstanding. Each of these optional living benefits is discussed in a separate Appendix at the end of this prospectus:

Appendix G - Secured Returns for Life	Appendix M - Income ON Demand II
Appendix H - Secured Returns	Appendix N - Income ON Demand II Plus
Appendix I - Secured Returns 2	Appendix O - Retirement Income Escalator II
Appendix J - Secured Returns for Life Plus	Appendix P - Income ON Demand II Escalator
Appendix K - Retirement Income Escalator	Appendix Q - Retirement Asset Protector
Appendix L - Income ON Demand	Appendix R - Income ON Demand III Escalator

Purchase Payments allocated to investment options other than the Designated Funds will only terminate the optional living benefit. Withdrawals taken in excess of allowable amounts, or withdrawals taken prior to certain dates, may severely decrease your Account Value or cause your Contract and your living benefit to terminate without value.

You may terminate an optional living benefit at any time. In addition, your optional living benefit will terminate if you annuitize or if you transfer any portion of your Account Value to an investment option other than one of the Designated Funds. In certain circumstances, a change of ownership may also terminate your living benefit. Upon termination, all benefits and fees associated with the optional living benefit will cease. Once terminated, a living benefit may not be reinstated.

The Income Phase: Annuity Provisions

If you want to receive regular income from your annuity after the Annuity Commencement Date, you can select one of several Annuity Options. You can choose to receive annuity payments on a fixed or variable basis. If you choose to receive any part of your annuity payments on a variable basis, the dollar amount of the payments may fluctuate with the performance of the underlying Funds. Subject to the Maximum Annuity Commencement Date, you decide when your Income Phase will begin but, once it begins, you cannot change your choice of annuity payment option.

During the Income Phase, we will deduct total insurance charges at an annual rate of 1.70% of your average daily Annuity Unit values. We will not deduct the mortality and expense risk charge; nor will we deduct the charges for any optional living benefit or optional death benefit. The 1.70% insurance charge, which includes an administrative expense charge and a distribution fee, compensates us for the risks and expenses associated with providing annuity payments during the Income Phase.

Death Benefit

If you die before the Contract reaches the Income Phase, the Beneficiary will receive a death benefit. The amount of the death benefit depends upon your age on the Open Date and whether you choose the basic death benefit or, for a fee, the optional death benefit. If you are 85 or younger on your Open Date, the basic death benefit pays the greatest of your Account Value, your total Purchase Payments (adjusted for withdrawals), or your Surrender Value, all calculated as of your Death Benefit Date. If you are 86 or older on your Open Date, the basic death benefit is equal to the Surrender Value. If you are younger than age 75 on the Open Date, you may purchase the Maximum Anniversary Account Value (“MAV”) optional death benefit which pays the greater of the basic death benefit and the highest Account Value on any Account Anniversary (adjusted for withdrawals) prior to age 81. You must make your election before your Issue Date. Your death benefit election may not be changed after your Issue Date.

Withdrawals, Withdrawal Charges and Market Value Adjustment

You can withdraw money from your Contract during the Accumulation Phase. You may withdraw a portion of your Account Value each year without the imposition of a withdrawal charge. In the first Account Year, this “free withdrawal amount” is equal to 10% of all Purchase Payments less any withdrawals previously taken that were not

3

subject to a withdrawal charges. For all other Account Years, the “free withdrawal amount” is equal to the greater of (1) 10% of the amount of all Purchase Payments made during the last seven Account Years (including the current Account Year) minus all withdrawals that were not subject to withdrawal charges taken during the current Account Year and (2) Contract earnings during the prior Account Year minus all withdrawals that were not subject to withdrawal charges taken during the current Account Year. For details regarding how to calculate your Contract earnings, please see “Withdrawal Charge” and “APPENDIX B - WITHDRAWALS, WITHDRAWAL CHARGES, & MARKET VALUE ADJUSTMENT.” Withdrawals made from the Fixed Account may also be subject to a Market Value Adjustment. (See “Market Value Adjustment.”) You may also have to pay income taxes and tax penalties on money you withdraw.

Right to Return

Your Contract contains a “free look” provision. If you cancel your Contract within 10 days after receiving it (or later, if allowed by your state), we will send you your Account Value less any “adjusted” Purchase Payment Interest, (please see “Right to Return” under “Other Contract Provisions” for the calculation of adjusted Purchase Payment Interest) as of the day we receive your cancellation request, in Good Order. (This amount may be more or less than the original Purchase Payment.) In states requiring return of Purchase Payments, you will receive the greater of (1) your Surrender Value as of the day we receive your cancellation request or (2) your total Purchase Payments made as of that date. We will only deduct a withdrawal charge or a Market Value Adjustment when the returned amount is based on Surrender Value.

Tax Provisions

Your earnings are not taxed until you take them out. If you withdraw money during the Accumulation Phase, earnings come out first and are taxed as ordinary income. If your Contract is a Non-Qualified Contract, it is possible that the election of an optional living benefit might increase the taxable portion of any withdrawal you make from the Contract. If you are younger than 59¹⁄₂ when you take money out, you may be charged a 10% federal tax penalty on taxable amounts.

NOTE ABOUT OTHER ANNUITY CONTRACTS THAT WE OFFER: In addition to the Contracts, we currently offer many other forms of annuity contracts with a wide variety of features, benefits and charges. Depending on your circumstances and needs, some of these other contracts may be at a lower cost to you. Not all of the annuity contracts that we offer are available in all jurisdictions or through all of the selling agents who offer the contracts. You should consider with your selling agent what annuity contract or financial product is most consistent with your needs and preferences.

If you have any questions about your Contract or need more information, please contact us at our Service Address:

Delaware Life Insurance Company

P.O. Box 758581

Topeka, KS 66675-8581

Toll Free (877) 253-2323

www.delawarelife.com/contact-us/

4

FEES AND EXPENSES

The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the Contract.¹

The table below describes the fees and expenses that you will pay at the time that you buy the Contract, surrender the Contract, or transfer cash value between investment options.

Contract Owner Transaction Expenses

Maximum Withdrawal Charge (as a percentage of Purchase Payments withdrawn): 8% ² 

Number of Complete Account Years Since Purchase Payment has been in the Account	0 - 1	1 - 2	2 - 3	3 - 4	4 - 5	5 - 6	6 - 7	7 or more
Withdrawal Charge	8%	8%	7%	6%	5%	4%	3%	0%

Maximum Fee Per Transfer (currently $0):	$15
Premium Taxes (as a percentage of Account Value or total Purchase Payments):	0% - 3.5%	3

The tables below describe the fees and expenses that you will pay periodically during the time that you own the Contract, not including Fund fees and expenses.

Annual Account Fee $50 ⁴ 

Variable Account Annual Expenses (as a percentage of net Variable Account assets)⁵

Mortality and Expense Risk Charge:	1.40%6
Administrative Expense Charge:	0.15%
Distribution Fee:	0.15%
Total Variable Account Annual Expenses (without optional benefits):	1.70%

Charges for Optional Death Benefits

Death Benefit7	Fee as a % of Variable Account Value
Maximum Anniversary Account Value (“MAV”)		0.40%
Death Benefits Previously Available8	Fee as a % of Variable Account Value
5% Premium Roll-Up		0.20%
Earnings Enhancement Benefit Premier		0.25%
Earnings Enhancement Benefit Premier with MAV		0.40%
Earnings Enhancement Benefit Premier with 5% Roll-Up		0.40%
Earnings Enhancement Benefit Premier Plus		0.40%
Maximum Annual Charge for an Optional Death Benefit (as a percentage of Variable Account Value):		0.40%

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Charges for Optional Living Benefits

Living Benefit9	Maximum Annual Fee
Income Riser Living Benefit (as a percentage of the highest Withdrawal Benefit Base11 during the Account Year):		1.30%	10
Living Benefits Previously Available13	Maximum Annual Fee
Secured Returns Living Benefit (as a percentage of average daily net assets):		0.40%
Secured Returns for Life Plus, Secured Returns for Life or Secured Returns 2 Living Benefits (as a percentage of the highest Account Value during the Account Year):		0.50%	14
Retirement Income Escalator Living Benefit (as a percentage of the highest Withdrawal Benefit Base11 during the Account Year):		0.95%	14
Income ON Demand Living Benefit (as a percentage of the highest Income Benefit Base15 during the Account Year):		0.85%	14
Income ON Demand II Living Benefit (as a percentage of the highest Fee Base12 during the Account Year):		0.85%	14
Income ON Demand II Plus Living Benefit (as a percentage of the highest Fee Base12 during the Account Year):		1.15%	14
Retirement Income Escalator II Living Benefit (as a percentage of the highest Withdrawal Benefit Base11 during the Account Year):		1.15%	14
Income ON Demand II Escalator Living Benefit (as a percentage of the highest Fee Base12 during the Account Year):		1.15%	14
Retirement Asset Protector Living Benefit (as a percentage of the highest Retirement Asset Protector Benefit Base16 during the Account Year):		0.75%	14
Income ON Demand III Escalator Living Benefit (as a percentage of the highest Fee Base12 during the Account Year):		1.30%	14
Maximum Annual Charge for an Optional Living Benefit (as a percentage of highest applicable fee base during the Account Year):		1.30%
Total Variable Account Annual Expenses (1.70%) plus Maximum Charges for an Optional Death Benefit (0.40%) and an Optional Living Benefit (1.30%):		3.40%17

The table below shows the minimum and maximum total operating expenses charged by the Funds for the year ended December 31, 2019.

Total Annual Fund Operating Expenses	Minimum		Maximum
(expenses as a percentage of average daily Fund net assets that are deducted from Fund assets, including management fees, distribution and/or service (12b-1) fees, and other expenses)		0.70%		2.16%

The expenses shown, which include any acquired fund fees and expenses, are those incurred for the year ended December 31, 2018, and were provided by the Funds. We have not independently verified the accuracy of the Fund expense information. Current or future expenses may be greater or less than those shown. For more information about Fund expenses, including a description of any applicable fee waiver or expense reimbursement arrangement, see the Fund prospectuses.

¹  The fee tables apply to the Accumulation Phase of the Contract and reflect the maximum charges unless otherwise noted. (See “Contract Charges.”) During the Income Phase, the fees will be different than the Total Variable Account Annual Expenses described in the fee table. After you annuitize, we will deduct total insurance charges at an annual rate of 1.70% of your average daily Annuity Unit values; we will no longer deduct a mortality and expense risk charge or the charges for any optional living benefit or any optional death benefit. The 1.70% insurance charge, which includes the administrative expense charge and a distribution fee, compensates us for the risks and expenses associated with providing annuity payments during the Income Phase.

²  A portion of your Account may be withdrawn each year without imposition of any withdrawal charge and, after a Purchase Payment has been in your Account for 7 Account Years, it may be withdrawn free of the withdrawal charge. (See “Withdrawal Charge.”)

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³  The premium tax rate and base vary by your state of residence and the type of Contract you own. We deduct premium taxes from Account Value upon full surrender (including surrender for the death benefit) or annuitization. (See “Premium Taxes.”)

⁴  The Annual Account Fee is waived if 100% of your Account Value has been allocated to the Fixed Account during the entire Account Year or if your Account Value is $100,000 or more on your Account Anniversary. (See “Account Fee.”)

⁵  All of the Variable Account Annual Expenses, except for the charges for optional living benefits, are assessed as a percentage of average daily net Variable Account assets. The charge for each optional living benefit is assessed on a quarterly basis.

⁶  For Contracts purchased prior to March 5, 2007, the rate of this charge is 1.60% if you were age 76 or older on the Contract’s Open Date. In that case, the rate for “Total Variable Account Annual Expenses (without optional benefits)” would be 1.90%.

⁷  The MAV optional death benefit is described under “DEATH BENEFIT.” It is currently available only if you are younger than age 75 on the Open Date. For Contracts purchased prior to August 17, 2009, the MAV death benefit was available to Owners younger than age 80 on the Open Date, at a cost of 0.20% of average daily net assets of the Variable Account Value.

⁸  The previously available death benefits are described in “APPENDIX C - PREVIOUSLY AVAILABLE OPTIONAL DEATH BENEFITS AND EXAMPLES.”

⁹  As discussed under “OPTIONAL LIVING BENEFIT: INCOME RISER,” if you elect to increase or renew certain benefits under Income Riser, we have the right to increase the rate of the charge to what we are then charging on newly issued optional living benefits of the same type or to a rate based on then-current market conditions.

¹⁰  The charge shown is assessed and deducted quarterly based upon the applicable fee base, taken on the last day of each Account Quarter. Your actual charges may be less than the maximum stated above. (See “Cost of SIR.”)

¹¹  The Withdrawal Benefit Base initially is equal to your initial Purchase Payment, and it thereafter is subject to certain adjustments. (See “OPTIONAL LIVING BENEFIT: INCOME RISER,” “APPENDIX K - RETIREMENT INCOME ESCALATOR,” and “APPENDIX O - RETIREMENT INCOME ESCALATOR II.”)

¹²  The Fee Base initially is equal to your initial Purchase Payment, and it thereafter is subject to certain adjustments. (See “APPENDIX M - Income ON Demand II,” “APPENDIX N - Income ON Demand II Plus,” “APPENDIX P - Income ON Demand II Escalator” and “APPENDIX R - Income ON Demand III Escalator.”)

¹³  The previously available optional living benefits are described in Appendices G through O. If you elect to increase certain benefits under any of the living benefits other than Secured Returns, we have the right to increase the rate of the charge based on then-current market conditions. (See the “Step-Up” section in Appendices G, I through R.) Under these outstanding Contracts, you were permitted to select only one optional living benefit.

¹⁴  The charges shown are assessed and deducted quarterly based upon the applicable fee base, taken on the last day of each Account Quarter. Your actual charges may be less than the maximum stated above. (See Appendices G, I through R.) For Contracts purchased prior to February 17, 2009, the Maximum Annual Fees for Retirement Income Escalator II, Income ON Demand II Escalator, and Retirement Asset Protector were initially set at 1.00%, 1.00%, and 0.35%, respectively. Those fees will not change on those earlier Contracts, unless the Owner consents in writing to the higher fees as described under “Step-Up” section in Appendices O through Q.

¹⁵  The Income Benefit Base initially is equal to your initial Purchase Payment, and it thereafter is subject to certain adjustments. (See “APPENDIX L - Income ON Demand.”)

¹⁶  The Retirement Asset Protector Benefit Base initially is equal to your initial Purchase Payment, and it thereafter is subject to certain adjustments. (See “APPENDIX Q - RETIREMENT ASSET PROTECTOR.”)

¹⁷  This amount assumes that MAV (0.40%) was selected and that the Income Riser Living Benefit with joint-life coverage (1.30%) was also selected (in addition to the 1.40% Mortality and Expense Risk Charge, the 0.15% Administrative Expense Charge, and the 0.15% Distribution Fee). It also assumes that the living benefit’s initial fee base is equal to the initial Purchase Payment. If the fee base changes, the charge for your optional living benefit and your Total Variable Account Annual Expenses would be higher or lower.

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EXAMPLE

This Example is 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 Contract Owner transaction expenses, contract fees, variable account annual expenses, and Fund fees and expenses.

The Example assumes that you invest $10,000 in the Contract for the time periods indicated and that your Contract combines the features producing the highest maximum charges, including the MAV optional death benefit and the optional living benefit with joint-life coverage. The Example also assumes that your investment has a 5% return each year and assumes the maximum fees and expenses of any of the Funds. For purposes of converting the Annual Account Fee to a percentage, the Example assumes an average Contract size of $50,000. This Example factors in Purchase Payment Interest using the 5% Purchase Payment Interest Option. In addition, this Example assumes no transfers were made and no premium taxes were deducted. If these arrangements were considered, the expenses shown would be higher.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

(1) If you surrender your Contract at the end of the applicable time period:

1 year	3 years	5 years	10 years
$1,341	$2,427	$3,444	$6,090

(2) If you annuitize your Contract at the end of the applicable time period:

1 year	3 years	5 years	10 years
$586	$1,777	$2,989	$6,090

(3) If you do not surrender your Contract:

1 year	3 years	5 years	10 years
$586	$1,777	$2,989	$6,090

The fee table and Example should not be considered a representation of past or future expenses and charges of the Sub-Accounts. Your actual expenses may be greater or less than those shown. The Example does not include the deduction of state premium taxes, which may be assessed upon full surrender, death or annuitization, or any taxes and penalties you may be required to pay if you surrender the Contract. This Example also does not take into consideration any fee waiver or expense reimbursement arrangement of the Funds. If these arrangements were taken into consideration, the expenses shown would be lower. Similarly, the 5% annual rate of return assumed in the Example is not intended to be representative of past or future investment performance. For more information about Fund expenses, including a description of any applicable fee waiver or expense reimbursement arrangement, see the prospectuses for the Funds.

For information concerning compensation paid for the sale of the Contracts, see “DISTRIBUTION OF THE CONTRACT.”

CONDENSED FINANCIAL INFORMATION

Historical information about the value of the units we use to measure the variable portion of your Contract (“Variable Accumulation Units”) is included in the back of this Prospectus as “APPENDIX T - CONDENSED FINANCIAL INFORMATION.”

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THE ANNUITY CONTRACT

Delaware Life Insurance Company and Delaware Life Variable Account F (the “Variable Account”) offer the Contract to groups and individuals for use in connection with their retirement plans. Annuities are long-term investment vehicles designed for retirement planning, and are not suitable for short-term investing or speculation. Persons wishing to employ such strategies should not purchase a Contract. The Contract is available on a group basis and, in certain states, may be available on an individual basis. We issue an Individual Contract directly to the individual Participant of the Contract. We issue a Group Contract to the Owner, covering all individuals participating under the Group Contract; each individual receives a Certificate that evidences his or her participation under the Group Contract.

In this Prospectus, unless we state otherwise, we refer to both the owners of Individual Contracts and participating individuals under Group Contracts as “Participants” and we address all Participants as “you”; we use the term “Contracts” to include Individual Contracts, Group Contracts, and Certificates issued under Group Contracts. For the purpose of determining benefits under both Individual Contracts and Group Contracts, we establish an Account for each Participant, which we will refer to as “your” Account or a “Participant Account.”

Your Contract provides certain features that may benefit you in retirement planning.

• It has an Accumulation Phase and an Income Phase. During the Accumulation Phase, you make Purchase Payments under the Contract and allocate them to one or more of the Variable Account options or, if available, the Fixed Account options. During the Income Phase, we make annuity payments based on the amount you have accumulated. Annuity payments can be fixed or variable. When you choose variable options, you assume the investment risk. When you choose fixed options, we assume the investment risk.

• It also has tax deferral, so that you do not pay taxes on your earnings under your Contract until you withdraw them. However, if you purchase your Contract in connection with a tax-qualified plan, your purchase should be made for reasons other than tax-deferral. Tax-qualified plans provide tax-deferral without the need for purchasing an annuity contract.

• It provides a basic death benefit if you die during the Accumulation Phase. You may enhance the basic death benefit by electing the optional death benefit for an additional charge.

• If you so elect, during the Income Phase, it provides annuity payments to you or someone else for life or for another period that you choose.

The Contract is designed for use in connection with personal retirement and deferred compensation plans, some of which qualify for favorable federal income tax treatment under Sections 401, 403, 408 or 408A of the Internal Revenue Code. The Contract is also designed so that it may be used in connection with certain non-tax-qualified retirement plans, such as payroll savings plans and such other groups (trusteed or non-trusteed) as may be eligible under applicable law. We refer to Contracts used with plans that receive favorable tax treatment as “Qualified Contracts,” and all other Contracts as “Non-Qualified Contracts.” A qualified retirement plan generally provides tax-deferral regardless of whether the plan invests in an annuity contract. A decision to purchase an annuity contract should not be based on the assumption that the purchase of an annuity contract is necessary to obtain tax-deferral benefits under a qualified retirement plan.

You should work with your registered representative to decide whether an optional benefit is appropriate for you based on a thorough analysis of your particular insurance needs, financial objectives, investment goals, time horizons and risk tolerance.

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COMMUNICATING TO US ABOUT YOUR CONTRACT

You may submit transaction requests or otherwise communicate with us in writing or by telephone. All materials mailed to us, including Purchase Payments, must be sent to our Service Address. For all telephone communications, you must call (877) 253-2323. In addition, the authorized registered representative of the broker-dealer of record may submit transfer requests on your behalf in writing or by telephone.

Unless this Prospectus states differently, we will consider all materials sent to us and all telephone communications to be received on the date we actually receive them, in Good Order, at our Service Address or at (877) 253-2323. However, we will consider all financial transactions, including Purchase Payments, withdrawal requests and transfer instructions, to be received on the next Business Day if we receive them (1) on a day that is not a Business Day or (2) after the close of regular trading on the New York Stock Exchange, which is normally 4:00 p.m., Eastern Time.

Certain methods of contacting us, such as by telephone, may be unavailable or delayed. Any telephone system (including yours, ours, and your registered representative’s) can experience delays or outages that may delay or prevent us from processing your request. While we have taken reasonable precautions to allow our systems to accommodate heavy usage, we do not guarantee access or reliability under all circumstances. If you experience delays or an outage, you may submit your request in writing to our Service Address, as set forth at the beginning of this Prospectus.

When we specify that notice to us must be in writing, we reserve the right, at our sole discretion, to accept notice in another form.

Electronic Account Information

During the Accumulation Phase, instead of receiving paper copies, Contract Owners may elect to receive prospectuses, transaction confirmations, reports and other communications in electronic format. To enroll in this optional electronic delivery service Contract Owners must register and log on to our Internet customer website via www.delawarelife.com. First-time users of this website can enroll in this electronic delivery service by selecting “eDeliver Documents” when registering to use the website. If you are already a registered user of this website, you can enroll in the electronic delivery service by logging on to your account and selecting “eDeliver Documents” on the “Update Profile” page. The electronic delivery service is subject to various terms and conditions, including a requirement that you promptly notify us of any change in your e-mail address, in order to avoid any disruption of deliveries to you. You may obtain more information and assistance at the above-mentioned internet location or by writing us at our Service Address or by telephone at (877) 253-2323.

DELAWARE LIFE INSURANCE COMPANY

We are a stock life insurance company incorporated under the laws of Delaware on January 12, 1970. We are licensed to do business in 49 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. We have a life insurance company subsidiary that is licensed to do business in New York. Our main administrative office address is 1601 Trapelo Road, Suite 30, Waltham, MA 02451.

The immediate parent company of Delaware Life Insurance Company is Group One Thousand One, LLC, a limited liability company organized under the laws of the State of Delaware on December 12, 2012. Group One Thousand One, LLC is ultimately controlled by Mark R. Walter.

THE VARIABLE ACCOUNT

We established the Variable Account as a separate account on July 13, 1989, pursuant to a resolution of our Board of Directors. The Variable Account funds the Contract and various other variable annuity contracts that we offer. These other products may have features, benefits and charges that are different from those under the Contract.

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Under Delaware insurance law and the Contract, the income, gains or losses of the Variable Account are credited to or charged against the assets of the Variable Account without regard to the other income, gains, or losses of the Company. These assets are held in relation to the Contract and other variable annuity contracts that provide benefits that vary in accordance with the investment performance of the Variable Account. The assets maintained in the Variable Account will not be charged with any liabilities arising out of any other business we conduct. All obligations arising under a Contract, including the promise to make annuity payments, and the optional living benefit and death benefit guarantees, are general corporate obligations of the Company and, as such, are subject to the claims of the Company’s creditors.

The assets of the Variable Account are divided into Sub-Accounts. Each Sub-Account invests exclusively in shares of a specific Fund. All amounts allocated by you to a Sub-Account will be used to purchase Fund shares at their net asset value. Any and all distributions made by the Funds with respect to the shares held by the Variable Account will be reinvested to purchase additional Fund shares at their net asset value. Deductions from the Variable Account for cash withdrawals, annuity payments, death benefits, Account Fees, Contract charges against the assets of the Variable Account for the assumption of mortality and expense risks, administrative expenses, optional benefits, and any applicable taxes will, in effect, be made by redeeming the number of Fund shares at their net asset value equal in total value to the amount to be deducted. The Variable Account will be fully invested in Fund shares at all times.

VARIABLE ACCOUNT OPTIONS: THE FUNDS

The Contract offers Sub-Accounts that invest in a number of Fund investment options. Each Fund is a mutual fund registered under the Investment Company Act of 1940, or a separate series of shares of such a mutual fund. Not all investment options are available under all Contracts. Please refer to “APPENDIX F - PREVIOUSLY AVAILABLE INVESTMENT OPTIONS” for more information. Currently, you may select from the following investment options:

Large-Cap Equity Funds

Columbia Variable Portfolio - Large Cap Growth Fund, Class 2

CTIVP^SM - Loomis Sayles Growth Fund, Class 2

Fidelity^® Contrafund^® Portfolio, Service Class 2 (of Variable Insurance Products Fund II)^1,5

Franklin Mutual Shares VIP Fund, Class 2

Invesco Oppenheimer V.I. Capital Appreciation Fund, Series II¹⁰

Invesco V.I. Comstock Fund, Series II

JPMorgan Insurance Trust U.S. Equity Portfolio, Class 2¹

Lord Abbett Series Fund, Inc. - Fundamental Equity Portfolio, Class VC

MFS^® Core Equity Portfolio, Service Class

MFS^® Growth Series, Service Class

MFS^® Research Series, Service Class

MFS^® Value Series, Service Class

Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio, Class II¹

Putnam VT Equity Income Fund, Class IB¹

Rational Trend Aggregation VA Fund³

Mid-Cap Equity Funds

Fidelity^® Mid Cap Portfolio, Service Class 2 (of Variable Insurance Products Fund III)⁵

Invesco V.I. American Value Fund, Series II¹

Lord Abbett Series Fund, Inc. - Growth Opportunities Portfolio, Class VC

MFS^® Mid Cap Growth Series, Service Class¹

MFS^® Mid Cap Value Portfolio, Service Class¹

Morgan Stanley Variable Insurance Fund, Inc. Discovery Portfolio, Class II¹

Small/Mid-Cap Equity Fund

AB Small/Mid Cap Value Portfolio, Class B¹

Small-Cap Equity Funds

Franklin Small Cap Value VIP Fund, Class 2

MFS^® Blended Research Small Cap Equity Portfolio, Service Class

MFS^® New Discovery Series, Service Class¹

MFS^® New Discovery Value Portfolio, Service Class¹

Rational Insider Buying VA Fund³

International/Global Equity Funds

AB International Growth Portfolio, Class B¹

Columbia Variable Portfolio - Overseas Core Fund, Class 2

First Eagle Overseas Variable Fund⁴

Invesco Oppenheimer V.I. Global Fund, Series II¹¹

Invesco V.I. International Growth Fund, Series II¹

MFS^® International Growth Portfolio, Service Class

MFS^® International Intrinsic Value Portfolio, Service Class⁹

MFS^® Research International Portfolio, Service Class

PIMCO StocksPLUS^® Global Portfolio, Advisor Class¹

Templeton Growth VIP Fund, Class 2

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Emerging Markets Equity Funds

Lazard Retirement Emerging Markets Equity Portfolio, Service Class¹

MFS^® Emerging Markets Equity Portfolio, Service Class

Specialty Sector Equity Fund

MFS^® Utilities Series, Service Class

Specialty Sector Commodity Fund

PIMCO CommodityRealReturn^® Strategy Portfolio, Administrative Class

Real Estate Equity Fund

MFS^® Global Real Estate Portfolio, Service Class

Asset Allocation Funds

AB Balanced Wealth Strategy Portfolio, Class B¹

AB Dynamic Asset Allocation Portfolio, Class B^1,7

BlackRock Global Allocation V.I. Fund, Class III¹

Fidelity^® Balanced Portfolio, Service Class 2 (of Variable Insurance Products Fund III)⁵

Franklin Income VIP Fund, Class 2

Invesco V.I. Equity and Income Fund, Series II¹

MFS^® Conservative Allocation Portfolio, Service Class^1,2

MFS^® Global Tactical Allocation Portfolio, Service Class^1,7

MFS^® Growth Allocation Portfolio, Service Class^1,2

MFS^® Moderate Allocation Portfolio, Service Class^1,2

MFS^® Total Return Series, Service Class

PIMCO All Asset Portfolio, Administrative Class²

PIMCO Global Managed Asset Allocation Portfolio, Advisor Class^1,2,7,8

Putnam VT Multi-Asset Absolute Return Fund, Class IB¹

Target Date Funds

Fidelity^® Freedom 2015 Portfolio, Service Class 2 (of Variable Insurance Products Fund IV)^2,5

Fidelity^® Freedom 2020 Portfolio, Service Class 2 (of Variable Insurance Products Fund IV)^2,5

Money Market Fund

MFS^® U.S. Government Money Market Portfolio, Service Class⁶

Global Bond Fund

Templeton Global Bond VIP Fund, Class 4¹

Short-Term Bond Fund

MFS^® Limited Maturity Portfolio, Service Class¹

Intermediate-Term Bond Funds

JPMorgan Insurance Trust Core Bond Portfolio, Class 2¹

MFS^® Corporate Bond Portfolio, Service Class

MFS^® Government Securities Portfolio, Service Class

MFS^® Total Return Bond Series, Service Class¹

Inflation Adjusted Bond Fund

MFS^® Inflation-Adjusted Bond Portfolio, Service Class¹

Multi-Sector Bond Fund

Franklin Strategic Income VIP Fund, Class 2

High Yield Bond Fund

MFS^® High Yield Portfolio, Service Class

Emerging Markets Bond Fund

PIMCO Emerging Markets Bond Portfolio, Administrative Class

  ¹ Not available if you purchased your Contract through a Bank of America representative between April 25, 2005 and April 20, 2007.

  ² This Fund is a fund-of-funds, which invests substantially all of its assets in shares of other mutual funds. This Fund may be more expensive than other Funds available under your Contract, as a fund-of-funds indirectly pays a portion of the management fees and other expenses incurred by the underlying mutual funds in which it invests. As a result, you will bear, directly, the expenses of the Fund and, indirectly, a portion of the expenses of the underlying funds. These expenses reduce the investment returns of both the Fund and the underlying funds.

  ³ Only available if you purchased your Contract through a Huntington Bank representative. These Funds do not have different share classes.

  ⁴ First Eagle Overseas Variable Fund does not have different share classes.

  ⁵ In marketing materials and other documents, the Fidelity^® funds may be referred to as follows: Fidelity^® VIP Contrafund^® Portfolio, Fidelity^® VIP Mid Cap Portfolio, Fidelity^® VIP Balanced Portfolio, Fidelity^® VIP Freedom 2015 Portfolio, and Fidelity^® VIP Freedom 2020 Portfolio.

  ⁶ There is no assurance that this Fund will be able to maintain a stable net asset value per share. In addition, during extended periods of low interest rates, and partly as a result of asset based separate account charges, the yield on this investment account may become low and possibly negative.

  ⁷ This Fund employs a managed volatility strategy.

  ⁸ Formerly known as PIMCO Global Multi-Asset Managed Allocation Portfolio.

  ⁹ Formerly known as MFS^® International Value Portfolio.

¹⁰  Formerly known as Oppenheimer Capital Appreciation Fund/VA.

¹¹  Formerly known as Oppenheimer Global Fund/VA.

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AllianceBernstein L.P. advises the AB Variable Products Series Fund, Inc. Portfolios. BlackRock Advisors, LLC advises the BlackRock Global Allocation V.I. Fund. Columbia Management Investment Advisers, LLC advises the Columbia Variable Portfolios (CTIVP^SM - Loomis Sayles Growth Fund is sub-advised by Loomis Sayles & Company LP and Columbia Variable Portfolio - Overseas Core Fund is sub-advised by Threadneedle International Ltd). Fidelity Management & Research Company advises the Fidelity^® VIP Portfolios; Fidelity^® VIP Contrafund^® Portfolio, Fidelity^® VIP Mid Cap Portfolio (sub-advised by FMR Co. Inc. and other investment advisers), and Fidelity^® VIP Balanced Portfolio (sub-advised by Fidelity Investments Money Management, Inc., FMR Co. Inc. and other investment advisers). First Eagle Investment Management, LLC advises the First Eagle Overseas Variable Fund. FMR Co., Inc. advises the Fidelity^® VIP Freedom Portfolios. Franklin Advisers, Inc. advises the Franklin Income VIP Fund, Franklin Strategic Income VIP Fund and Templeton Global Bond VIP Fund. Franklin Advisory Services, LLC advises the Franklin Small Cap Value VIP Fund. Franklin Mutual Advisers, LLC advises the Franklin Mutual Shares VIP Fund. Invesco Advisers, Inc. advises the Invesco Funds. J.P. Morgan Investment Management Inc. advises the JPMorgan Portfolios. Lazard Asset Management LLC advises the Lazard Retirement Emerging Markets Equity Portfolio. Lord, Abbett & Co. LLC advises the Lord Abbett Portfolios. Massachusetts Financial Services Company advises the MFS^® Portfolios and the MFS^® Series. Morgan Stanley Investment Management Inc. advises the Morgan Stanley Variable Insurance Fund, Inc. Portfolios. Pacific Investment Management Company LLC advises the PIMCO Portfolios, including PIMCO All Asset Portfolio (sub-advised by Research Affiliates, LLC). Putnam Investment Management, LLC advises the Putnam Funds (Putnam VT Equity Income Fund is sub-advised by Putnam Investments Limited and Putnam VT Multi-Asset Absolute Return Fund is sub-advised by Putnam Advisory Company and Putnam Investments Limited). Rational Advisors Inc. advises the Rational VA Funds (Rational Trend Aggregation VA Fund sub-advised by Tuttle Tactical Management, LLC). Templeton Global Advisors Limited advises the Templeton Growth VIP Fund.

More comprehensive information about the Funds, including a discussion of their management, investment objectives, expenses, and potential risks, is found in the current prospectuses for the Funds (the “Fund Prospectuses”). The Fund Prospectuses should be read in conjunction with this Prospectus before you invest. A copy of each Fund Prospectus, as well as each Fund’s Statement of Additional Information, may be downloaded from our website, www.delawarelife.com, or obtained without charge by calling us at (877) 253-2323 or by writing to Delaware Life Insurance Company, P.O. Box 758581, Topeka, KS 66675-8581.

The Funds may also be available to registered separate accounts offering variable annuity and variable life products of other affiliated and unaffiliated insurance companies, as well as to the Variable Account and other separate accounts of the Company. Although we do not anticipate any disadvantages to this, there is a possibility that a material conflict may arise between the interests of the Variable Account and one or more of the other separate accounts participating in the Funds. A conflict may occur due to a change in law affecting the operations of variable life and variable annuity separate accounts, differences in the voting instructions of the Participants and Payees and those of other companies, or some other reason. In the event of conflict, we will take any steps necessary to protect Participants and Payees, including withdrawal of the Variable Account from participation in the underlying Funds which are involved in the conflict or substitution of shares of other Funds.

As described in more detail in the Fund prospectuses, certain Funds may employ managed volatility or hedging strategies intended to reduce overall volatility and provide for downside protection during downward movements in equity markets. These hedging strategies could limit the Fund’s upside participation in rising equity markets relative to other Funds with substantially similar investment objectives and policies that do not use such strategies. Investing in such Funds may, however, be helpful in a declining market, because the hedging strategy will reduce your equity exposure under such circumstances, and your Account Value may decline less than would have been the case if you had not invested in Funds with a managed volatility or hedging strategy. In addition, the cost of these strategies may have a negative impact on performance. There is no guarantee that a Fund employing a managed volatility or hedging strategy can achieve or maintain the Fund’s optimal risk targets, and the Fund may not perform as expected. You should consult with your registered representative to determine which combination of investment choices is appropriate for you.

Certain of the investment advisers, transfer agents, or underwriters to the Funds may reimburse us for administrative costs in connection with administering the Funds as options under the Contracts. These amounts are not charged to the Funds or Participants, but are paid from assets of the advisers, transfer agents, or underwriters.

13

Certain publicly available mutual funds may have similar investment goals and principal investment policies and risks as one or more of the Funds, and may be managed by a Fund’s portfolio manager(s). While a Fund may have many similarities to these other funds, its investment performance will differ from their investment performance. This is due to a number of differences between a Fund and these similar products, including differences in sales charges, expense ratios and cash flows.

Selection of Funds

The Funds offered through the Contract are selected by the Company. We review the Funds periodically and may remove a Fund or limit its availability to new Purchase Payments and/or transfers of Account Value if we determine that a Fund no longer satisfies one or more of the selection criteria, and/or if the Fund has not attracted significant allocations from Contract Owners. We do not recommend or endorse any particular fund, and we do not provide investment advice. You bear the risk of any decline in your Account Value resulting from the performance of the Funds you have chosen.

We may consider various factors, including, but not limited to, asset class coverage, the alignment of the investment objectives of a Fund with our hedging strategy, the strength of an adviser’s or sub-adviser’s reputation and tenure, brand recognition, performance, and the capability and qualification of each investment firm. Another factor that we may consider is whether the Fund or its service providers (e.g., the investment adviser or sub-advisers) or its affiliates will make payments to us or our affiliates in connection with certain administrative, marketing, and support services, or whether affiliates of the Fund can provide marketing and distribution support for the sale of the Contracts.

Payments We Receive

The Funds’ investment advisers, transfer agents, underwriters and/or affiliates (“Fund Groups”) compensate us for providing administrative and recordkeeping services that they would normally be required to provide for individual shareholders or cost savings experienced by the Fund Groups. Such compensation is typically a percentage of Variable Account assets invested in a relevant Fund and generally may range up to 0.50% of net assets. In like manner, some Funds pay Rule 12b-1 fees to the Company or the principal underwriter of the Contracts for providing distribution and shareholder support services to the Funds, ranging up to 0.25% directly from the Funds in connection with a Rule 12b-1 Plan. If the Company or the principal underwriter receive Rule 12b-1 fees, combined compensation for administrative, distribution and recordkeeping related services ranges up to 0.55% annually of Variable Account assets invested in a Fund. Certain Fund Groups do not provide any compensation to us from Rule 12b-1 fees but provide up to 0.50% annually of Variable Account assets invested in a Fund.

These payments reflect in part expense savings by the Fund Groups for having, in the case of the Contracts, a sole shareholder, the Variable Account, rather than multiple shareholders in the Funds. Proceeds of these payments may be used for any corporate purpose, including the payment of expenses that Delaware Life and its affiliates incur in promoting, issuing, distributing and administering the Contracts. These payments are generally based on a percentage of the daily assets of the Funds under the Contracts and other variable contracts offered by Delaware Life and its affiliated insurers.

In addition, certain Fund Groups provide fixed dollar compensation to defray the cost of our marketing support and training services. These services may include various promotional, training or marketing meetings for distributors, wholesalers, and/or selling broker-dealers’ registered representatives, and creating materials describing the Contract, its features and the available investment options. Certain Fund Groups may also attend these meetings.

These payments create an incentive for us to offer Funds (or classes of shares of Funds) for which such payments are available to us. We consider such payments, among other things, when deciding to include a Fund (or class of shares of a Fund) as an investment option under the Contracts. Other available investment portfolios (or classes of shares of Funds) may have lower fees and better overall investment performance than the Funds (or classes of shares of the Funds) offered under the Contract.

If you purchased the Contract through a broker-dealer or other financial intermediary (such as a bank), the Fund Groups may pay the intermediary for services provided with regard to the sale of Fund shares in the Subaccounts under

14

the Contract. The amount and/or structure of the compensation can possibly create a conflict of interest as it may influence the broker-dealer or other intermediary and your salesperson to present this Contract (and certain Subaccounts under the Contract) over other investment alternatives. The variations in compensation, however, may also reflect differences in sales effort or ongoing customer services expected of the broker-dealer or other intermediary or your salesperson. You may ask your salesperson about such variations and how he or she and his or her broker-dealer or other financial intermediary are compensated for selling the Contract.

THE FIXED ACCOUNT

The Fixed Account is made up of all the general assets of the Company (referred to as the “general account”) other than those allocated to any separate account. Amounts you allocate to Guarantee Periods become part of the Fixed Account. These general account assets are available to support our insurance and annuity obligations other than those funded by the Variable Account. Any guarantees under the Contract that exceed your Variable Account Value, such as those with any optional living benefit and any death benefit, are paid from our general account (and not the Variable Account). Therefore, any amounts that we may be obligated to pay under the Contract in excess of Variable Account Value are subject to our financial strength and claims-paying ability and our long-term ability to make such payments. We issue other types of insurance policies and financial products as well, and we pay our obligations under those products from our assets in the general account. The general account is subject to claims of creditors made on the assets of the Company.

We will invest the assets of the Fixed Account in those assets we choose that are allowed by applicable state insurance laws. In general, these laws permit investments, within specified limits and subject to certain qualifications, in federal, state and municipal obligations, corporate bonds, preferred and common stocks, real estate mortgages, real estate and certain other investments. We intend to invest primarily in investment-grade fixed income securities (i.e., rated by a nationally recognized rating service within the four highest grades) or instruments we believe are of comparable quality.

We are not obligated to invest amounts allocated to the Fixed Account according to any particular strategy, except as may be required by applicable state insurance laws. You will not have a direct or indirect interest in the Fixed Account investments.

THE FIXED ACCOUNT OPTIONS: THE GUARANTEE PERIODS

Guarantee Periods

You may elect one or more Guarantee Periods from those we make available from time to time. When available, we may offer Guarantee Periods of different durations; however, we may stop offering some or all Guarantee Periods at any time. Once we stop offering a Guarantee Period of a particular duration, allocations, transfers or renewals into that Guarantee Period will not be permitted. In addition, we reserve the right not to make any Guarantee Periods available. In such event, Guarantee Periods already in existence will be unaffected, although any renewals thereof will be made into the Money Market Sub-Account. We may choose to exercise this right before the Open Date or at some later time. At any time, we can reverse our decision to exercise this right.

Effective May 4, 2009, we stopped accepting any additional amounts for allocation to certain Guarantee Periods, regardless of when the Contract was issued. Under this change, all Guarantee Periods were closed to new amounts from:

• initial or subsequent Purchase Payments you may make, except for Purchase Payments that you allocate to our dollar-cost averaging program;

• transfers of Account Value into a Guarantee Period from any other Guarantee Period or Sub-Account;

• renewals at the end of an existing Guarantee Period; and

• any other source.

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Any of your Account Value held in a Guarantee Period on May 4, 2009 was not immediately affected by our closing the Guarantee Periods to new amounts. However, at the end of such Guarantee Period, we automatically transfer all of your Account Value remaining therein to the Money Market Sub-Account, if you have not by that time requested that we transfer all of such amounts to any other Sub-Account(s).

Guaranteed Interest Rates

We determine Guaranteed Interest Rates at our discretion. Our determination will be influenced by the interest rates we earn on our fixed income investments as well as other factors, including regulatory and tax requirements, sales commissions, administrative expenses, general economic trends and competitive factors. You can find out about our current Guaranteed Interest Rates by calling us at (877) 253-2323.

We may from time to time at our discretion offer special interest rates for new Purchase Payments that are higher than the rates we are then offering for renewals or transfers.

Early Withdrawals

Early withdrawals from your allocation to a Guarantee Period, including cash withdrawals, transfers, and commencement of an annuity option, may be subject to a Market Value Adjustment, which could increase the value of your Account. (See “WITHDRAWALS, WITHDRAWAL CHARGES, AND MARKET VALUE ADJUSTMENT.”)

THE ACCUMULATION PHASE

During the Accumulation Phase of your Contract, you make Purchase Payments into your Account, and your earnings accumulate on a tax-deferred basis. The Accumulation Phase begins with our acceptance of your first Purchase Payment and ends the Business Day before your Annuity Commencement Date. The Accumulation Phase will end sooner if you surrender your Contract or if the “Covered Person” dies before the Annuity Commencement Date.

Issuing Your Contract

We “open” the Contract on the Business Day when we receive your Application at our mailing address shown on the first page of this Prospectus. We refer to this date as the “Open Date.” We “issue” your Contract on the day we apply your initial Purchase Payment, when your Application is “in Good Order.” An Application is in Good Order when we have received all the information necessary to complete it. We refer to this date as the “Issue Date.”

We determine your eligibility for purchasing a Contract and your eligibility for electing the optional death benefit and the optional living benefit based upon the ages of all Owners and Annuitants on the Open Date.

We will credit your initial Purchase Payment to your Account within two Business Days of receiving your completed Application, in Good Order. If your Application is not in Good Order, we will notify you. If we do not have the necessary information to complete the Application within five Business Days, we will send your money back to you or ask your permission to retain your Purchase Payment until the Application is in Good Order. Once the Application is in Good Order, we will then apply the Purchase Payment within two Business Days.

Amount and Frequency of Purchase Payments

The amount of Purchase Payments may vary. However, we will not accept an initial Purchase Payment of less than $10,000 or the maximum annual Individual Retirement Annuity (“IRA”) contribution, unless we waive these limits. Although there is currently no minimum amount for additional Purchase Payments, we reserve the right to limit each additional Purchase Payment to at least $1,000. In addition, unless we have given our prior approval, we will not accept a Purchase Payment if your Account Value is over $2 million, or if the Purchase Payment would cause your Account Value to exceed $2 million. We reserve the right to refuse Purchase Payments received more than five years after your Issue Date or after your 70th birthday, whichever is later. We will notify you of any change in writing prior to its

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effectiveness. Within these limits, you may make Purchase Payments at any time during the Accumulation Phase. Additional restrictions may apply if you purchased an optional living benefit. If you are participating in an optional living benefit, you may be limited in the timing of additional Purchase Payments depending upon which optional living benefit you selected. (See “OPTIONAL LIVING BENEFIT - INCOME RISER” and Appendices G - R.)

Allocation of Net Purchase Payments

You may allocate your Purchase Payments among the different Sub-Accounts and Guarantee Periods currently available. However, we reserve the right to limit any allocation to a Guarantee Period to at least $1,000. We will notify you of any change in writing prior to its effectiveness.

In your Application, you may specify the percentage of each Purchase Payment to be allocated to each Sub-Account or Guarantee Period. These percentages are called your allocation factors. You may change the allocation factors for future Purchase Payments by sending us notice of the change as required. We will use your new allocation factors for Purchase Payments we receive with or after we have received notice of the change until we receive another change notice.

Although it is currently not our practice, we may deduct applicable premium taxes or similar taxes from your Purchase Payments. (See “Premium Taxes.”) In that case, we will credit your Net Purchase Payment, which is the Purchase Payment minus the amount of those taxes.

Your Account

When we accept your first Purchase Payment, we establish an Account for you, which we maintain throughout the Accumulation Phase of your Contract.

Your Account Value

Your Account Value is the sum of the value of the two components of your Contract: the Variable Account portion (“Variable Account Value”) and the Fixed Account portion (“Fixed Account Value”). These two components are calculated separately, as described under “Variable Account Value” and “Fixed Account Value.”

Purchase Payment Interest

We will credit your Contract with an amount, which we refer to as “Purchase Payment Interest.” When you purchased your Contract, your may have elected one of the Purchase Payment Interest options listed below.

Option A: The 2% Five-Year Anniversary Interest Option - Under this option we will credit your Contract with interest at a rate of 2% of each Purchase Payment received prior to the first Account Anniversary. In addition, on every Fifth-Year Anniversary, we will add to your Contract a credit equal to 2% of your Account Value at that time.

Option B: The 5% Interest Option - Under this option we will add to your Contract a credit equal to 5% of each Purchase Payment. However, Purchase Payments made under Option B prior to August 17, 2009, were credited with interest at the rate in effect at the time of the Purchase Payment. This rate ranged from 3% to 6% of the Purchase Payment. You will never receive a credit on an additional Purchase Payment lower than the rate declared at the time your Contract was purchased. (See “APPENDIX D - CALCULATION FOR PURCHASE PAYMENT INTEREST.”)

We add the Purchase Payment Interest to your Account during the same Valuation Period in which we receive any Purchase Payment under Option B, or any Purchase Payment received before the first Account Anniversary under Option A. In addition, under Option A we add Purchase Payment Interest to your Account on every Fifth-Year Anniversary. When a credit is based upon a Purchase Payment received, we allocate it to the Sub-Accounts and/or the Guarantee Periods in the same proportion as the Net Purchase Payment is allocated. For any Fifth-Year Anniversary credit under Option A, we calculate the credit based on your total Account Value and then allocate that amount to each Sub-Account on a pro-rata basis; i.e., in the same proportion as each Sub-Account is invested in your total Variable Account Value.

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Purchase Payment Interest is not a Purchase Payment and therefore no withdrawal charges are directly associated with it. The credit of Purchase Payment Interest increases your Account Value. As a result of the Purchase Payment Interest, other values may be affected. For example:

• An increase in your Account Value may also result in your Account Value becoming the greatest amount payable under the basic death benefit.

• The Purchase Payment Interest credited during a previous Account Year may also increase your prior Account Year’s earnings under your Contract and thus your free withdrawal amount.

• If you are participating in an optional living benefit, the Purchase Payment Interest will not be credited to your benefit base; however, the increase in your Account Value may cause a step-up of your benefit base.

You should carefully consider the following when selecting a Purchase Payment Interest option:

• Option A will generally result in higher Purchase Payment Interest if you plan to hold your Contract for a longer period of time (e.g., 10 years or more). Option B will generally result in higher Purchase Payment Interest if you only plan to hold your Contract for a shorter period of time (e.g., less than 10 years).

• If you plan on making additional Purchase Payments beyond the first Account Year, then under Option B, we will credit your Account Value immediately with the Purchase Payment Interest. By contrast, for Purchase Payments made after the first Account Year under Option A, you will not receive an immediate credit of Purchase Payment Interest; instead, on every Fifth-Year Anniversary, we will credit your Contract based on your Account Value.

• If you selected an optional living benefit, there may be restrictions on the amount and timing of additional Purchase Payments. (See “Accumulation Phase,” “OPTIONAL LIVING BENEFIT - INCOME RISER,” and Appendices H - S.)

The Contracts are designed to give the most value to Participants with long-term investment goals. We will deduct the “Adjusted” Purchase Payment Interest if the Contract is returned during the “free look period.” For a description of the free look period and Adjusted Purchase Payment Interest, see “Right to Return.” For examples of how we calculate Purchase Payment Interest, see “APPENDIX D - CALCULATION OF PURCHASE PAYMENT INTEREST.”

Variable Account Value

Variable Accumulation Units

In order to calculate your Variable Account Value, we use a measure called a Variable Accumulation Unit for each Sub-Account. Your Variable Account Value is the sum of your Account Value in each Sub-Account, which is the number of your Variable Accumulation Units for that Sub-Account times the value of each Unit.

Variable Accumulation Unit Value

The value of each Variable Accumulation Unit in a Sub-Account reflects the net investment performance of that Sub-Account. We determine that value once on each day that the New York Stock Exchange is open for trading, at the close of trading, which is generally 4:00 p.m., Eastern Time. (The close of trading is determined by the New York Stock Exchange.) Each day we make a valuation is called a “Business Day.” The period that begins at the time Variable Accumulation Units are valued on a Business Day and ends at that time on the next Business Day is called a “Valuation Period.” On days other than Business Days, the value of a Variable Accumulation Unit does not change.

To measure these values, we use a factor, which we call the Net Investment Factor, which represents the net return on the Sub-Account’s assets. At the end of any Valuation Period, the value of a Variable Accumulation Unit for a Sub-Account is equal to the value of that Sub-Account’s Variable Accumulation Units at the end of the previous Valuation Period, multiplied by the Net Investment Factor. We calculate the Net Investment Factor by dividing (1) the net asset value of a Fund share held in the Sub-Account at the end of that Valuation Period, plus the per share amount of any dividend or capital gains distribution made by that Fund during the Valuation Period, by (2) the net asset value per

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share of the Fund share at the end of the previous Valuation Period; then, for each day in the Valuation Period, we deduct a factor representing the asset-based insurance charges (the mortality and expense risk charge, the administrative expense charge, and the distribution fee) plus any applicable asset-based charge for certain optional benefits.

For a hypothetical example of how we calculate the value of a Variable Accumulation Unit, see the Statement of Additional Information.

Crediting and Canceling Variable Accumulation Units

When we receive an allocation to a Sub-Account, either from a Net Purchase Payment or a transfer of Account Value, we credit that amount to your Account in Variable Accumulation Units. Similarly, we cancel Variable Accumulation Units when you transfer or withdraw amounts from a Sub-Account, or when we deduct certain charges under the Contract. We determine the number of Units credited or canceled by dividing the dollar amount by the Variable Accumulation Unit value for that Sub-Account at the end of the Valuation Period during which the transaction or charge is effective.

Fixed Account Value

Your Fixed Account Value is the sum of all amounts allocated to Guarantee Periods, either from Net Purchase Payments, transfers or renewals, plus interest credited on those amounts, and minus withdrawals, transfers out of Guarantee Periods, and any deductions for charges under the Contract taken from your Fixed Account Value.

A Guarantee Period begins the day we apply your allocation and ends when all calendar years (or months if the Guarantee Period is less than one year) in the Guarantee Period (measured from the end of the calendar month in which the amount was allocated to the Guarantee Period) have elapsed. The last day of the Guarantee Period is its Renewal Date.

Each additional Purchase Payment, transfer or renewal credited to your Fixed Account Value will result in a new Guarantee Period with its own Renewal Date. Amounts allocated at different times to Guarantee Periods of the same duration may have different Renewal Dates. Guarantee Periods may not always be available for allocation. (See “FIXED ACCOUNT OPTIONS: THE GUARANTEE PERIODS.”)

Crediting Interest

We credit interest on amounts allocated to a Guarantee Period at the applicable Guaranteed Interest Rate for the duration of the Guarantee Period. During the Guarantee Period, we credit interest daily at a rate that yields the Guaranteed Interest Rate on an annual effective basis. You can find out about our current Guaranteed Interest Rates by calling us at (877) 253-2323.

Guarantee Amounts

Each separate allocation you make to a Guarantee Period, together with interest credited thereon, is called a Guarantee Amount. Each Guarantee Amount is treated separately for purposes of determining the Market Value Adjustment. We may restrict a Guarantee Period that will extend beyond your Maximum Annuity Commencement Date. Renewals into a Guarantee Period that extends beyond your Maximum Annuity Commencement Date will result in an application of a Market Value Adjustment upon annuitization or withdrawals. We reserve the right to limit each new allocation to a Guarantee Period to at least $1,000.

Renewals

We will notify you in writing between 45 and 75 days before the Renewal Date for any Guarantee Amount. Renewals are only available if we are currently offering Fixed Account options on the Renewal Date. If you would like to change your Fixed Account option, we must receive from you prior to the Renewal Date:

• written notice from you electing a different Guarantee Period from among those we then offer, or

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• written instructions to transfer the Guarantee Amount to one or more Sub-Accounts, in accordance with the transfer privilege provisions of the Contract. (See “Transfer Privilege.”)

If we receive no instructions from you prior to the Renewal Date, we will automatically renew your Fixed Account allocation into a new Guarantee Period of the same duration as the last Guarantee Period. If we are no longer offering a Guarantee Period of the same duration, we will automatically transfer your Fixed Account allocation into the Money Market Sub-Account.

A Guarantee Amount will not renew into a Guarantee Period that will extend beyond your Maximum Annuity Commencement Date. In that case, unless you notify us otherwise, we will automatically transfer your Guarantee Amount into the Money Market Sub-Account.

These automatic transfers of Fixed Account Value into the Money Market Sub-Account will not count as a transfer for purposes of the transfer restrictions described under “Transfer Privilege.”

Early Withdrawals

If you withdraw, transfer, or annuitize an allocation from a Guarantee Period more than 30 days prior to the Renewal Date, we will apply a Market Value Adjustment to the transaction. This could result in an increase of your Account Value, depending on interest rates at the time. (See “WITHDRAWALS, WITHDRAWAL CHARGES, AND MARKET VALUE ADJUSTMENT.”)

Transfer Privilege

Permitted Transfers

During the Accumulation Phase, you may transfer all or part of your Account Value to one or more Sub-Accounts or Guarantee Periods then available, subject to the following restrictions:

• you may not make more than 12 transfers in any Account Year;

• the amount transferred from a Guarantee Period must be the entire Guarantee Amount, except for transfers of interest credited during the current Account Year;

• at least 30 days must elapse between transfers to and from Guarantee Periods;

• at least 6 days must elapse between transfers to and from the Sub-Accounts;

• transfers to or from Sub-Accounts are subject to terms and conditions that may be imposed by the Funds; and

• we impose additional restrictions on market timers, which are further described below. (See “Short-Term Trading.”)

These restrictions do not apply to transfers made under any optional program. (See “Other Programs.”) Additional restrictions apply to transfers made under any of the optional living benefits.

We reserve the right to waive these restrictions and exceptions at any time, as discussed under “Short-Term Trading,” or to change them. Any change will be applied uniformly. We will notify you of any change prior to its effectiveness.

There is usually no charge imposed on transfers; however, we reserve the right to impose a transfer charge of $15 for each transfer. We will notify you of any change in writing prior to its effectiveness. Transfers out of a Guarantee Period more than 30 days before the Renewal Date or any time after the Renewal Date will be subject to the Market Value Adjustment described under “WITHDRAWALS, WITHDRAWAL CHARGES, AND MARKET VALUE ADJUSTMENT.” Under current law, there is no tax liability for transfers.

Requests for Transfers

You, your authorized registered representative of the broker-dealer of record, or another authorized third party may request transfers in writing or by telephone.

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If a written or telephone transfer request as described above is received in Good Order before the earlier of (a) 4:00 p.m. Eastern Time on a Business Day, or (b) the close of the New York Stock Exchange on days that the Stock Exchange closes before 4:00 p.m., the transfer will be priced that day. The telephone transfer privilege is available automatically during regular business hours before 4:00 p.m. Eastern Time, and does not require your written election. We have established procedures reasonably designed to confirm that instructions communicated to us by telephone are genuine. These procedures may require any person requesting a transfer by telephone to provide personal identifying information. We will not be liable for following instructions communicated by telephone that we reasonably believe are genuine.

We reserve the right to deny any and all transfer requests made by telephone and to require that certain transfer requests be submitted in writing. A transfer request may be denied if it is not in Good Order or if it does not comply with the terms of our short-term trading policy or the trading policy of a fund involved in the transfer. If a telephone transfer request is denied, we will immediately notify you and your authorized registered representative.

We also reserve the right to suspend, modify, restrict, or terminate the telephone transfer privilege at any time. Your ability (or the ability of your authorized registered representative or another authorized third party) to request transfers by telephone may also be limited due to circumstances beyond our control, such as during system outages or periods of high volume.

A transfer request will be priced at the Variable Accumulation Unit value next determined at the close of the Business Day if we receive your transfer request, in Good Order, before the earlier of (a) 4:00 p.m. Eastern Time on a Business Day, or (b) the close of the New York Stock Exchange on days that the Stock Exchange closes before 4:00 p.m. Otherwise, your transfer request will be priced on the next Business Day.

Certain transfer requests may result in the modification or cancellation of one or more of the Contract’s optional programs or features that require, or are based on, specific allocations among the available Sub-Accounts or Guarantee Periods as described more particularly elsewhere in this Prospectus (and in the Appendices hereto).

No more than one transfer request of Account Values may be made on the same Business Day regardless of whether the request is made by you, your authorized registered representative, or another authorized third party, and regardless of whether the request is submitted in writing or by telephone. The Company has established reasonable procedures for handling multiple transfer requests received on the same Business Day, including processing the first transfer request received in Good Order on a Business Day (unless otherwise cancelled in accordance with the cancellation procedures described in the next paragraph).

You, your authorized registered representative, or another authorized third party may cancel a transfer request by contacting us by telephone at (877) 253-2323 before the end of the Business Day during which the transfer request was submitted.

Short-Term Trading

The Contracts are not designed for short-term trading. If you wish to employ such strategies, do not purchase a Contract. Transfer limits and other restrictions, described below, are subject to our ability to monitor transfer activity. Some Participants and their third party intermediaries engaging in short-term trading may employ a variety of strategies to avoid detection. Despite our efforts to prevent short-term trading, there is no assurance that we will be able to identify such Participants or intermediaries or curtail their trading. A failure to detect and curtail short-term trading could result in adverse consequences to the Participants. Short-term trading can increase costs for all Participants as a result of excessive portfolio transaction fees. In addition, short-term trading can adversely affect a Fund’s performance. If large amounts of money are suddenly transferred out of a Fund, the Fund’s investment adviser cannot effectively invest in accordance with the Fund’s investment objectives and policies.

The Company has policies and procedures to limit the number and frequency of transfers of Account Value. The Company also reserves the right to charge a fee for transfers to discourage frequent trading. In no event will the total charge assessed in connection with a transfer, that includes this fee as well as any charge that we may assess on a

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permitted transfer of Account Value among Sub-Accounts (see “Permitted Transfers,” above), exceed the maximum fee per transfer presented in the table of “Contract Owner Transaction Expenses” under “FEES AND EXPENSES” in this Prospectus.

Short-term trading activities whether by the Participant or a third party authorized to initiate transfer requests on behalf of Participant(s) may be subject to other restrictions as well. For example, we reserve the right to take actions against short-term trading which restrict your transfer privileges (including transfers to and from the Fixed Account) more narrowly than the policies described under “Permitted Transfers,” such as requiring transfer requests to be submitted in writing through regular first-class U.S. mail (e.g., no overnight, priority or courier delivery allowed), and refusing any and all transfer instructions.

If we determine that a third party acting on your behalf is engaging (alone or in combination with transfers effected by you directly) in a pattern of short-term trading, we may refuse to process certain transfers requested by such a third party. We impose additional administrative restrictions on third parties that engage in transfers of Account Values on behalf of multiple Participants at one time. Specifically, we limit the form of such large group transfers to fax or mail delivery only, require the third party to provide us with advance notice of any possible large group transfer so that we can have additional staff ready to process the request, and require that the amount transferred out of a Sub-Account for each Participant be equal to 100% of that Participant’s value in the Sub-Account. In the last situation, we will not transfer any of the Sub-Account value. Instead, we will deem the request not in Good Order and immediately notify you.

We will provide you written notification of any restrictions imposed.

We reserve the right to waive short-term trading restrictions, where permitted by law and not adverse to the interests of the relevant underlying Fund, in the following instances:

• when a new broker of record is designated for the Contract;

• when the Participant changes;

• when control of the Contract passes to the designated beneficiary upon the death of the Participant or Annuitant;

• when necessary in our view to avoid hardship to a Participant; or

• when underlying Funds are dissolved, merged, or substituted.

If short-term trading results as a consequence of waiving the restrictions against short-term trading, it could expose Participants to certain risks. The short-term trading could increase costs for all Participants as a result of excessive portfolio transaction fees. In addition, the short-term trading could adversely affect a Fund’s performance. If large amounts of money are suddenly transferred out of a Fund, the Fund’s investment adviser cannot effectively invest in accordance with the Fund’s investment objectives and policies. We uniformly apply the short-term trading policy and the permitted waivers of that policy to all Contracts. If we did not do so, some Participants could experience a different application of the policy and therefore may be treated unfairly. Too much discretion on our part in allowing the waivers of short-term trading policy could result in an unequal treatment of short-term traders by permitting some short-term traders to engage in short-term trading while prohibiting others from doing the same.

Funds’ Trading Policies

In addition to the restrictions that we impose (as described under “Permitted Transfers” and “Short-Term Trading”), most of the Funds have adopted restrictions or other policies about transfers or other purchases and sales of the Fund’s shares. These policies (the “Funds’ Trading Policies”) are intended to protect the Fund from short-term trading or other trading practices that are potentially harmful to the Fund. The Funds’ Trading Policies may be more restrictive in some respects than the restrictions that we otherwise would impose, and the Funds may modify their trading policies from time to time.

We are legally obligated to provide (at the Funds’ request) information about each amount you cause to be deposited into a Fund (including by way of Purchase Payments and transfers under your Contract) or removed from the Fund

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(including by way of withdrawals and transfers under your Contract). If a Fund identifies you as having violated the Fund’s Trading Policies, we are obligated, if the Fund requests, to restrict or prohibit any further deposits or exchanges by you (or a third party acting on your behalf) in respect of that Fund. Any such restriction or prohibition may remain in place indefinitely.

Accordingly, if you do not comply with any Fund’s Trading Policies, you (or a third party acting on your behalf) may be prohibited from directing any additional amounts into that Fund or directing any transfers or other exchanges involving that Fund. You should review and comply with each Fund’s Trading Policies, which are generally disclosed in the Funds’ current prospectuses.

Funds may differ significantly as to such matters as: (a) the amount, format, and frequency of information that the Funds request from us about transactions that our customers make; and (b) the extent and nature of any limits or restrictions that the Funds request us to impose upon such transactions. As a result of these differences, the costs borne by us and (directly or indirectly) by our customers may be significantly increased. Any such additional costs may outweigh any additional protection that would be provided to our customers, particularly in view of the protections already afforded by the trading restrictions that we impose as described under “Permitted Transfers” and under “Short-Term Trading.” Also, if a Fund imposes more strict trading restrictions than are reasonably necessary under the circumstances, you could be deprived of potentially valuable flexibility to make transactions with respect to that Fund. For these and other reasons, we may disagree with the timing or substance of a Fund’s requests for information from us or with any transaction limits or restrictions that the Fund requests us to impose upon our customers. If any such disagreement with respect to a Fund cannot be satisfactorily resolved, the Fund might be restricted or, subject to obtaining any required regulatory approval, replaced as a variable investment option.

Waivers; Reduced Charges; Credits; Special Guaranteed Interest Rates

In certain situations, we may reduce or waive the withdrawal charge or the annual Account Fee, credit additional amounts, grant bonus Guaranteed Interest Rates, or offer other options or benefits. These situations may include sales of Contracts (1) where selling and/or maintenance costs associated with the Contracts are reduced, such as the sale of several Contracts to the same Participant, certain sales of larger-sized Contracts (generally, Contracts that have our approval to exceed $2 million in Account Value), and certain group sales, and (2) to officers, directors and employees of the Company or its affiliates, registered representatives and employees of broker-dealers with a current selling agreement with the Company and affiliates of such representatives and broker-dealers, employees of affiliated asset management firms, and persons who have retired from such positions (“Eligible Employees”) and immediate family members of Eligible Employees. Eligible Employees and their immediate family members may also purchase a Contract without regard to minimum Purchase Payment requirements. For other situations in which withdrawal charges may be waived, see “WITHDRAWALS, WITHDRAWAL CHARGES, AND MARKET VALUE ADJUSTMENT.”

Other Programs

You may participate in any of the following optional programs free of charge. Transfers made pursuant to the provisions of the following optional programs will not be charged a transfer fee, nor will such transfers count as one of the 12 free transfers per year allowed under the section entitled “Transfer Privilege.” If you have elected to participate in an optional living benefit, certain restrictions may affect the operation or availability of these programs as discussed in more detail under each specific program below. You may terminate your participation in any of these programs at any time by written notice to us or by other means approved by us.

Dollar-Cost Averaging (“DCA”) Program

You may elect to participate in the DCA program, at no extra charge, you make any Purchase Payment to your Account prior to your Maximum Annuity Commencement Date. If you have elected an optional living benefit, your ability to make Purchase Payments into the DCA program may be limited. Please see “OPTIONAL LIVING BENEFIT - INCOME RISER” and Appendices G - R.

The DCA program allows you to invest gradually over time by allocating all or a portion of your Purchase Payment to a Guarantee Period. (We reserve the right to limit minimum investments to at least $1,000.) At regular time intervals,

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we will automatically transfer a portion of your Fixed Account Value (including a portion of the Purchase Payment Interest) to one or more Sub-Accounts that you choose. The program continues until your Fixed Account Value is depleted or you elect to stop the program. The final amount transferred from the Fixed Account will include all interest earned.

Amounts allocated to the Fixed Account under the program will earn interest at a rate declared by the Company for the Guarantee Period you select. Amounts invested in a Sub-Account may not be transferred to a Guarantee Period made available in connection with this program. If you elected to participate in the DCA program when you purchased your Contract, then all future Purchase Payments will be allocated to the DCA program, unless you specify otherwise.

No Market Value Adjustment will apply to amounts automatically transferred from the Fixed Account under the DCA program. However, if you discontinue or alter the program prior to completion, amounts remaining in the Fixed Account will be transferred to the Money Market Sub-Account, unless you instruct us otherwise, and the Market Value Adjustment will be applied. Any allocation of a new Purchase Payment to the program will be treated as commencing a new DCA program and may be subject to the $1,000 minimum investment limit.

The main objective of the DCA program is to minimize the impact of short-term price fluctuations on Account Value. In general, since you transfer the same dollar amount to the variable investment options at set intervals, the DCA program allows you to purchase more Variable Accumulation Units (and, indirectly, more Fund shares) when prices are low and fewer Variable Accumulation Units (and, indirectly, fewer Fund shares) when prices are high. Therefore, you may achieve a lower average cost per Variable Accumulation Unit over the long term. The DCA program allows you to take advantage of market fluctuations. However, it is important to understand that the DCA program does not insure a profit or protect against loss in a declining market. We do not allow transfers into any of the Guarantee Periods pursuant to the DCA program.

Asset Allocation

One or more asset allocation models may be available in connection with the Contract, at no extra charge. You may elect to participate in an asset allocation model at any time prior to your Maximum Annuity Commencement Date as long as we are still offering asset allocation models. Asset allocation is the process of investing in different asset classes, such as equity funds, fixed income funds, and money market funds, depending on your personal investment goals, tolerance for risk, and investment time horizon. By spreading your money among a variety of asset classes, you may be able to reduce the risk and volatility of investing, although there are no guarantees, and asset allocation does not insure a profit or protect against loss in a declining market.

We have no discretionary authority or control over your investment decisions. We do not recommend asset allocation models or otherwise provide advice as to what asset allocation model may be appropriate for you.

Our asset allocation program consists of one or more asset allocation models that we may make available from time to time. You may participate in only one model at a time. Each such asset allocation model represents a combination of Sub-Accounts with a different level of risk. Any asset allocation models, as well as the terms and conditions of this asset allocation program, are fully described in a separate brochure. You may request a copy of this brochure by calling us at (877) 253-2323. We may add or delete such models in the future.

Our asset allocation models are “static.” That is to say, if you elect an asset allocation model, we automatically rebalance your Account Value among the Sub-Accounts represented in the model you chose. While we will not alter the Sub-Account allocation percentages used in any asset allocation model, your asset allocation model and allocation weightings could be affected by mergers, liquidations, fund substitutions, or closures.

You will not be provided with information regarding the periodic updates to models that we may offer to new Contract purchasers. Any new models will only be offered to Contracts opened on or after the date the new model goes into effect or to Contract Owners who elect an asset allocation model on or after that date. Contract Owners who have elected an existing asset allocation model will remain in that existing model and we will continue to rebalance their percentage allocations among the Sub-Accounts in that existing model. However, such Contract Owners may make an independent decision to change their asset allocations at any time. Investment alternatives, other than these asset

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allocation models, are available that may enable you to invest your Account Value with similar risk and return characteristics. You should consult your financial adviser periodically to consider whether any model you have selected is still appropriate for you.

Systematic Withdrawal and Interest Out Program

You may select our Systematic Withdrawal Program or Interest Out Program at any time prior to your Maximum Annuity Commencement Date. Under the Systematic Withdrawal Program, you determine the amount and frequency of regular withdrawals you would like to receive from your Fixed Account Value and/or Variable Account Value and we will process them automatically. Under the Interest Out Program, we automatically pay you, or reinvest, interest credited for all Guarantee Periods you have chosen. The withdrawals under these programs may be subject to surrender charges and a Market Value Adjustment. They may also be included as income and subject to a 10% federal tax penalty. You should consult a qualified tax professional before choosing these options. We reserve the right to limit the election of either of these programs to Contracts with a minimum Account Value of $10,000.

You are responsible for and may have to adjust the amount and timing of your systematic withdrawals to comply with amounts you are allowed to withdraw under an optional living benefit. (See “OPTIONAL LIVING BENEFIT - INCOME RISER” and Appendices H - S.) Withdrawals may significantly reduce the death benefit amount under your Contract. (See “Calculating the Death Benefit.”)

You may change or stop either program at any time, by written notice to us or other means approved by us.

Portfolio Rebalancing Program

You may select our Portfolio Rebalancing Program at any time prior to your Maximum Annuity Commencement Date. Under this program, we transfer funds among all Sub-Accounts to maintain the percentage allocation you have selected among these Sub-Accounts. At your election, we will make these transfers on a quarterly, semi-annual or annual basis. If you are participating in an optional living benefit, then, on a quarterly basis, we will automatically transfer your Account Value among the Designated Funds you have selected to maintain the percentage allocations you have chosen. (See “DESIGNATED FUNDS” and “BUILD YOUR OWN PORTFOLIO.”) No transfers to or from any Guarantee Period are permitted while this program is in effect.

Secured Future Program

You may only elect to participate in the Secured Future Program on or before your Issue Date. We divide your initial Purchase Payment (and Purchase Payment Interest on that initial Purchase Payment) between the Fixed Account and the Variable Account. For the Fixed Account portion, you choose a Guarantee Period from among those we offer. We then allocate to that Guarantee Period the portion of your Purchase Payment and Purchase Payment Interest necessary so that, at the end of the Guarantee Period, your Fixed Account allocation, including interest, will equal the entire amount of your original Purchase Payment, less the amount of any Contract charges that have been deducted from the Fixed Account. The remainder of the initial Purchase Payment and Purchase Payment Interest will be invested in the Sub-Accounts of your choice. At the end of the Guarantee Period, you will be guaranteed the amount of your original Purchase Payment and Purchase Payment Interest (assuming no withdrawals or transfers), plus you will have the benefit, if any, of the investment performance of the Sub-Accounts you have chosen. Your Secured Future Program terminates at the end of the Guarantee Period and is not renewable into a new Guarantee Period. The Secured Future Program is no longer being offered. (See “THE FIXED ACCOUNT OPTIONS: THE GUARANTEE PERIODS.”)

Travel Assistance Program

On January 11, 2010, we exercised our right to discontinue offering this program to new Contract purchasers. We sent Owners written notice of our decision to discontinue offering the program. If your Contract had an Open Date before January 11, 2010, you were automatically enrolled in this program on your Open Date, if it had been approved in your state and by the firm through whom you purchased your Contract, unless you instructed us otherwise. The program will remain in effect for you, unless your Contract terminates, you change ownership of your Contract, or you instruct us to cancel your participation in the program. There is no charge for this program.

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This program may provide some or all of the following services, provided by a third party we designate, when the person covered is 100 miles or more away from home:

• Referral to an English-speaking doctor or hospital for medical consultation and evaluation

• Hospital admission guarantee, assuming the covered person has applicable health coverage

• Emergency evacuation, if necessary

• Critical care monitoring of attending doctor/hospital

• Medically supervised repatriation, if the person covered requires assistance returning home after hospitalization

• Assistance in filling prescriptions, if required

• Receipt and transmission of necessary emergency messages

• Telephone counseling and referrals if the person covered experiences emotional trauma

• Transportation to join a covered person who was traveling alone and will be hospitalized more than seven days

• Transportation home for minor children left unattended by the covered person’s illness or injury

• Legal and interpreter referrals

• Return of mortal remains

The “person covered” is:

• The Owner as identified in the Contract, if the Contract is owned by one or more individuals; or

• The Annuitant as identified in the Contract, if the Contract is owned by a non-natural entity.

WITHDRAWALS, WITHDRAWAL CHARGES, AND MARKET VALUE ADJUSTMENT

Cash Withdrawals

Requesting a Withdrawal

At any time during the Accumulation Phase, you may withdraw in cash all or any portion of your Account Value. To make a withdrawal, other than a Systematic Withdrawal, you must send us a written request at our Service Address. Your request must specify whether you want to withdraw the entire amount of your Account or, if less, the amount you wish to receive.

All withdrawals may be subject to a withdrawal charge. (See “Withdrawal Charge.”) Withdrawals from your Fixed Account Value also may be subject to a Market Value Adjustment. (See “Market Value Adjustment.”) Upon request, we will notify you of the amount we would pay in the event of a full withdrawal. Withdrawals also may have adverse federal income tax consequences including a 10% penalty tax. (See “TAX PROVISIONS.”) You should carefully consider these tax consequences before requesting a cash withdrawal.

Full Withdrawals

If you request a full withdrawal, we calculate the amount we will pay you as follows:

• first we determine your Account Value based on any Fixed Account Value and on the price next determined for each Sub-Account at the end of the Valuation Period during which we receive your withdrawal request;

• we then deduct the Account Fee, if applicable;

• we calculate and then add the amount of any Market Value Adjustment applicable to your Fixed Account Value; and finally,

• we calculate and deduct any applicable withdrawal charge.

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A full withdrawal results in the surrender of your Contract, cancellation of all rights and privileges under your Contract, and your optional living benefit will end.

Partial Withdrawals

When you request a partial withdrawal, you can ask to have any applicable charges deducted either from:

• the amount of your partial withdrawal request (thereby reducing the amount you are to receive); or

• your Account Value (thereby reducing your Account Value by the amount of your partial withdrawal request plus any applicable withdrawal charges).

If you make no specification, we will process your withdrawal request using the first option above. Please note: Under either option any applicable taxes will be deducted from the amount you receive.

You may specify the amount you want withdrawn from each Sub-Account and/or Guarantee Amount to which your Account is allocated. If you do not so specify, we will deduct the total amount you request pro-rata, based on your Account Value at the end of the Valuation Period during which we receive your request. If you have elected “Build Your Own Portfolio,” withdrawals out of your portfolio model will be taken pro-rata from each of your selected Funds.

Withdrawals may significantly reduce any death benefit and/or living benefit amount. In calculating the amount payable under the living benefit or death benefit, we may reduce the benefit by an amount that is greater than the amount of the withdrawal, depending on the circumstances. Accordingly, you should refer to the more detailed discussions of the optional living benefits and optional death benefits that appear elsewhere in this Prospectus (and in the Appendices hereto) for information about the effects that withdrawals will have on those benefits.

If you request a partial withdrawal that would result in your Account Value being reduced to an amount less than the Account Fee for the Account Year in which you make the withdrawal, we reserve the right to treat it as a request for a full withdrawal (i.e., a surrender of your Contract).

Time of Payment

We will pay you the applicable amount of any full or partial withdrawal within seven days after we receive your withdrawal request, in Good Order, except in cases where we are permitted, and choose, to defer payment under the Investment Company Act of 1940 and applicable state insurance law. Currently, we may defer payment of amounts you withdraw from the Variable Account only for the following periods:

• when the New York Stock Exchange is closed (except weekends and holidays) or when the SEC determines trading on the New York Stock Exchange is restricted;

• when the SEC determines that an emergency exists and that it is not reasonably practical (i) to dispose of securities held in the Variable Account or (ii) to determine the value of the net assets of the Variable Account;

• when an SEC order permits us to defer payment for the protection of Participants; or

• when mandated by applicable law.

If, pursuant to SEC rules, a government money market Fund suspends payment of redemption proceeds in connection with a liquidation of the Fund, we will delay payment of any transfer, partial withdrawal, surrender, loan, or death benefit from the corresponding Sub-Account until the Fund is liquidated. We also may defer payment of amounts you withdraw from the Fixed Account for up to six months from the date we receive your withdrawal request. We do not pay interest on the amount of any payments we defer.

If mandated under applicable law, we may be required to reject a Purchase Payment and/or block a Contract Owner’s account and thereby refuse to pay any request for transfers, withdrawals, surrenders or death benefits until instructions are received from the appropriate regulators. We may also be required to provide additional information about you or your account to governmental regulators.

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Withdrawal Restrictions for Qualified Plans

If your Contract is a Qualified Contract, you should carefully check the terms of your retirement plan for limitations and restrictions on cash withdrawals.

Special restrictions apply to withdrawals from Contracts used for Section 403(b) annuities. (See “Tax-Sheltered Annuities” under “TAX PROVISIONS.”)

Withdrawal Charge

We do not deduct any sales charge from your Purchase Payments when they are made. However, we may impose a withdrawal charge (known as a “contingent deferred sales charge”) on certain amounts you withdraw. We impose this charge primarily to defray some of our expenses related to the sale of the Contracts, such as commissions we pay to agents, the cost of sales literature, and other promotional costs and transaction expenses.

Free Withdrawal Amount

In each Account Year you may withdraw a portion of your Account Value, which we call the “free withdrawal amount,” before incurring the withdrawal charge.

In the first Account Year, your free withdrawal amount is equal to 10% of all Purchase Payments you have made less any withdrawals previously taken that were not subject to withdrawal charges. For all other Account Years, the free withdrawal amount is equal to the greater of:

• your Contract’s earnings during the prior Account Year (defined below) minus all withdrawals taken during the current Account Year that were not subject to withdrawal charges; and

• 10% of the amount of all Purchase Payments you have made during the last seven Account Years (including the current Account Year), minus all withdrawals taken during the current Account Year that were not subject to withdrawal charges.

Your Contract earnings during the prior Account Year are determined on the Account Anniversary according to the following formula:

(AV Change - PP) + WD

Where:
	AV Change	=	the difference between your Account Value at the end of the prior Account Year and your Account Value at the beginning of the prior Account Year.
	PP	=	all Purchase Payments made during the prior Account Year.
	WD	=	all partial withdrawals and withdrawal charges taken during the prior Account Year.

For an example of how we calculate the “free withdrawal amount,” see “APPENDIX E - CALCULATION OF FREE WITHDRAWAL AMOUNT.”

Order of Withdrawals

Each time you make a withdrawal, we consider the free withdrawal amount to be withdrawn first. If the amount you withdraw is in excess of your free withdrawal amount, then that excess may be subject to a withdrawal charge. We will withdraw the excess, in order, from your oldest remaining Purchase Payment to your most recent Purchase Payment. Each time you make a withdrawal, we will follow this procedure until all of your Purchase Payments have been withdrawn. Once all Purchase Payments are withdrawn, the balance withdrawn is considered to be earnings and is not subject to a withdrawal charge.

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Calculation of Withdrawal Charge

We calculate the amount of the withdrawal charge by multiplying the Purchase Payments you withdraw by a percentage. The percentage varies according to the number of Account Years the Purchase Payment has been held in your Account. Each Purchase Payment begins a new 7-year period and moves down the declining withdrawal charge scale as shown below at each Account Anniversary. If a Purchase Payment is withdrawn during the same Account Year as it was made, it will have an 8% withdrawal charge. On your next scheduled Account Anniversary, that Purchase Payment, along with any other Purchase Payments made during that same Account Year, will be considered to be in their second Account Year and will also have an 8% withdrawal charge. On the next Account Anniversary, these Purchase Payments will move into their third Account Year and will have a withdrawal charge of 7%. This withdrawal charge decreases according to the number of Account Years the Purchase Payment has been held in your Account. The withdrawal charge scale is as follows:

Number of Account Years Payment Has Been In Your Account	Withdrawal Charge
0 - 1	8%
1 - 2	8%
2 - 3	7%
3 - 4	6%
4 - 5	5%
5 - 6	4%
6 - 7	3%
7 or more	0%

For example, the percentage applicable to the withdrawal of a Purchase Payment that has been in an Account for more than two Account Years but less than three will be 7% regardless of the Issue Date of the Contract.

The withdrawal charge will never be greater than 8% of the aggregate amount of Purchase Payments you make under your Contract. You may want to consider deferring a withdrawal because withdrawal charges decline the longer the Purchase Payment is held in your Account.

For a Group Contract, we may modify the withdrawal charges and limits, upon notice to the Owner of the Group Contract. However, any modification will apply only to Accounts established after the date of the modification.

For additional examples of how we calculate withdrawal charges, see “APPENDIX B - WITHDRAWALS, WITHDRAWAL CHARGES, & MARKET VALUE ADJUSTMENT.”

Types of Withdrawals not Subject to Withdrawal Charge

Nursing Home Waiver

We will waive the withdrawal charge for a full withdrawal if:

• the nursing home waiver is approved in the state of issue;

• at least one year has passed since your Issue Date;

• you are confined to an eligible nursing home and have been confined there for at least the preceding 180 days, or any shorter period required by your state; and

• your confinement to an eligible nursing home began after your Issue Date.

An “eligible nursing home” means a licensed hospital or licensed skilled or intermediate care nursing facility at which medical treatment is available on a daily basis and daily medical records are kept for each patient. You must provide us with evidence of confinement in the form we determine. To find out where the nursing home waiver is approved, you can call us at (877) 253-2323.

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Minimum Distributions

For each Qualified Contract, the free withdrawal amount in any Account Year will be the greater of the free withdrawal amount described above or any amounts required to be withdrawn to comply with the minimum distribution requirement of the Internal Revenue Code. This waiver of the withdrawal charge applies only to the portion of the required minimum distribution attributable to that Qualified Contract.

Other Withdrawals

We do not impose withdrawal charge:

• when you annuitize your Contract;

• on amounts we pay as a death benefit, except under the Cash Surrender method;

• on amounts you transfer among the Sub-Accounts, between the Sub-Accounts and the Fixed Account, or within the Fixed Account; or

• on any amounts transferred as part of an optional program. (See “Other Programs.”)

Market Value Adjustment

Market Value Adjustments only apply to Contracts investing in the Fixed Account and are only applicable to Contracts that have allocated money to the Fixed Account Guarantee Period options that we make available from time to time.

If permitted under the laws of your state, we will apply a Market Value Adjustment if you withdraw or transfer amounts from your Fixed Account Value more than 30 days before the end of the applicable Guarantee Period. For this purpose, using Fixed Account Value to provide an annuity is considered a withdrawal, and the Market Value Adjustment will apply. However, we will not apply the Market Value Adjustment to automatic transfers to a Sub-Account from a Guarantee Period as part of our dollar-cost averaging program.

We apply the Market Value Adjustment separately to each Guarantee Amount in the Fixed Account, that is, to each separate allocation you have made to a Guarantee Period together with interest credited on that allocation. However, we do not apply the adjustment to the amount of interest credited during your current Account Year. Any withdrawal from a Guarantee Amount is attributed first to such interest.

A Market Value Adjustment may increase or have no effect on your Account Value. This will depend on changes in interest rates since you made your allocation to the Guarantee Period and the length of time remaining in the Guarantee Period. In general, if the Guaranteed Interest Rate we currently declare for Guarantee Periods equal in duration to the number of complete years remaining in your Guarantee Period (or your entire Guarantee Period for Guarantee Periods of less than one year) is lower than your Guaranteed Interest Rate, the Market Value Adjustment is likely to increase your Account Value.

Effective March 19, 2012, we have amended your Contract or Certificate by limiting (i.e., putting a “floor” on) any downward Market Value Adjustment that might be applied after March 19, 2012, to withdrawals or transfers out of a Guarantee Period. The “floor” ensures that, if you withdraw or transfer money from your Fixed Account Value more than 30 days before the end of the applicable Guarantee Period, we will not apply a Market Value Adjustment that would reduce the amount withdrawn before the deduction of any applicable Contract charges. We will, however, continue to apply any positive Market Value Adjustment that would increase the amount withdrawn.

We determine the amount of the Market Value Adjustment by multiplying the amount that is subject to the adjustment by the following formula:

(	1 + I	)	N/12	- 1
	1 + J + b

Where:
	I	is the Guaranteed Interest Rate applicable to the Guarantee Amount from which you withdraw, transfer or annuitize;

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J	is the Guaranteed Interest Rate we declare at the time of your withdrawal, transfer or annuitization for Guarantee Periods equal to the length of time remaining in the Guarantee Period applicable to your Guarantee Amount, rounded to the next higher number of complete years, for Guarantee Periods of one year or more. For any Guarantee Periods of less than one year, J is the Guaranteed Interest Rate we declare at the time of your withdrawal, transfer or annuitization for a Guarantee Period of the same length as your Guarantee Period. If, at that time, we do not offer the applicable Guarantee Period we will use an interest rate determined by straight-line interpolation of the Guaranteed Interest Rates for the Guarantee Periods we do offer;
N	is the number of complete months remaining in your Guarantee Period; and
b	is a factor that currently is 0%, but that in the future we may increase to up to 0.25%. Any increase would be applicable only to Participants who purchase their Contracts after the date of that increase. The “b” factor is the amount that will be used to cover market volatility (i.e., credit risk), basis risk, and/or liquidity costs.

We will apply the Market Value Adjustment to the amount being withdrawn after deduction of any Account Fee, if applicable, but before we impose any withdrawal charge on the amount withdrawn.

For examples of how we calculate the Market Value Adjustment, see “APPENDIX B - WITHDRAWALS, WITHDRAWAL CHARGES, & MARKET VALUE ADJUSTMENT.”

CONTRACT CHARGES

Account Fee

During the Accumulation Phase of your Contract, we will deduct an annual Account Fee of $50 from your Account Value to help cover the administrative expenses we incur related to the issuance of Contracts and the maintenance of Accounts. We deduct the Account Fee on each Account Anniversary. We deduct the Account Fee pro-rata from each Sub-Account and each Guarantee Period, based on the allocation of your Account Value on your Account Anniversary.

We will not charge the Account Fee if:

• your Account Value has been allocated only to the Fixed Account during the applicable Account Year; or

• your Account Value is $100,000 or more on your Account Anniversary.

If you make a full withdrawal of your Account Value, we will deduct the full amount of the Account Fee at the time of the withdrawal. In addition, on the Annuity Commencement Date we will deduct a pro-rata portion of the Account Fee to reflect the time elapsed between the last Account Anniversary and the day before the Annuity Commencement Date.

After the Annuity Commencement Date, we will deduct an annual Account Fee of $50 in the aggregate in equal amounts from each Variable Annuity payment we make during the year. We do not deduct any Account Fee from Fixed Annuity payments.

Administrative Expense Charge and Distribution Fee

We deduct an administrative expense charge from the assets of the Variable Account during both the Accumulation Phase and the Income Phase. During the Accumulation Phase, this charge is deducted at an annual effective rate equal to 0.15% of your average daily Variable Account Value (including any portion of your Variable Account Value that has resulted from the crediting of any Purchase Payment Interest). During the Income Phase, this charge is included as part of the total insurance charges deducted from Annuity Unit values. This charge is designed to reimburse us for expenses we incur in administering the Contracts, Participant Accounts and the Variable Account that are not covered by the annual Account Fee.

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We also deduct a distribution fee from the assets of the Variable Account during both the Accumulation Phase and the Income Phase. During the Accumulation Phase, this fee is deducted at an annual effective rate equal to 0.15% of your average daily Variable Account Value (including any portion of your Variable Account Value that has resulted from the crediting of any Purchase Payment Interest). During the Income Phase, this fee is included as part of the total insurance charges deducted from Annuity Unit values. This charge is designed to reimburse us for the expenses associated with distributing and issuing the Contracts.

Depending on the amount of expenses that we incur, we expect that we may earn a profit from these charges. If so, we may use the profit for any proper corporate purpose, including paying any other expenses in connection with the Contracts or adding to our corporate surplus.

Mortality and Expense Risk Charge

During the Accumulation Phase, we deduct a mortality and expense risk charge from the assets of the Variable Account at an effective annual rate equal to 1.40% of your average daily Variable Account Value (including any portion of your Variable Account Value that has resulted from the crediting of any Purchase Payment Interest).

We assume numerous mortality and expense risks under the Contracts. These risks include, but are not limited to: (1) the risk that arises from our contractual obligation to continue to make annuity payments to each Annuitant, regardless of how long the Annuitant lives and regardless of how long all Annuitants as a group live; (2) the risk that arises from our contractual obligation to pay a death benefit upon the death of the Participant prior to the Annuity Commencement Date, including in cases where the death benefit is greater than a Contract’s Account Value; (3) the risk that our cost of providing benefits according to the terms of any optional death benefits and any optional living benefits will exceed the amount of the charges we deduct for those optional benefits; and (4) the risk that the annual Account Fee, the administrative expense charge, and the distribution fee we assess under the Contract may be insufficient to cover the actual total administrative expenses we incur. If the amount of the charge is insufficient to cover our costs resulting from these and other mortality and expense risks, we will bear the loss. If, as we expect, the amount of the charge is more than sufficient to cover such costs, we will make a profit on the charge. We may use this profit for any proper corporate purpose, including the payment of marketing and distribution expenses for the Contract. In setting the rate of this charge, we not only consider our expected mortality and expense risks, but also our objective to earn a profit from the Contracts, after all of the costs, expenses, credits, and benefits we expect to pay in connection with the Contracts.

For Contracts purchased prior to March 5, 2007, the rate of the mortality and expense risk charge is 1.60% (rather than 1.40%), if you were age 76 or older on the Contract’s Open Date. During the Income Phase, we will deduct total insurance charges at an annual rate of 1.70% of your average daily Annuity Unit values, regardless of your age on the Open Date. We will not deduct the mortality and expense risk charge; nor will we deduct the charges for any optional living benefit or optional death benefit. The 1.70% charge, which includes an administrative expense charge and a distribution fee, compensates us for the risks and expenses associated with providing annuity payments during the Income Phase.

Charges for Optional Benefits

You may only elect the currently available optional living benefit. If you elect the optional living benefit, we will deduct a charge from your Account Value on the last valuation day of each Account Quarter during the Accumulation Phase. The maximum amount of the charge is shown in the following chart. (The chart shows the charge for the optional living benefit that are currently being offered. For more information about this charge, as well as the charges for forms of optional living benefits that are no longer being offered but remain in force under currently outstanding Contracts, please see “FEES AND EXPENSES.”)

Living Benefit	Maximum Charge per Account Year
Income Riser	1.30% of the highest Withdrawal Benefit Base during the Account Year1

¹  The Withdrawal Benefit Base is initially equal to your initial Purchase Payment, and thereafter is subject to certain adjustments.

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If you elect the MAV optional death benefit, during the Accumulation Phase, we will deduct a daily charge at an effective annual rate of 0.40% of your average daily Variable Account Value. For more information about this charge, as well as the charges for optional death benefits that are no longer being offered but remain in force under currently outstanding Contracts, please see “FEES AND EXPENSES.” For more information about the calculation of this charge, please see “Variable Accumulation Unit Value” under “Variable Account Value.”

Premium Taxes

Some states and local jurisdictions impose a premium tax on us that is equal to a specified percentage of the Purchase Payments you make. In many states there is no premium tax. We believe that the amounts of applicable premium taxes currently range from 0% to 3.5%. You should consult a qualified tax professional to find out if you could be subject to a premium tax and the amount of any tax.

In order to reimburse us for the premium tax we may pay on Purchase Payments, our policy is to deduct the amount of such taxes from the amount you apply to provide an annuity at the time of annuitization. However, we reserve the right to deduct the amount of any applicable tax from your Account at any time, including at the time you make a Purchase Payment or make a full or partial withdrawal. We do not make any profit on the deductions we make to reimburse premium taxes.

Fund Expenses and Restrictions

There are fees and expenses deducted from each Fund. These fees and expenses are described in the Fund prospectuses and related Statements of Additional Information.

Under certain circumstances, the board of directors of a government money market fund would have the discretion to impose a liquidity fee on redemptions from the money market fund and to implement a redemption gate that would temporarily suspend redemptions from the fund. We reserve the right to implement, administer and charge you for any such fee or restriction imposed by the fund.

Modification in the Case of Group Contracts

For Group Contracts, we may modify the annual Account Fee, the administrative expense charge and the mortality and expense risk charge upon notice to Participants. However, such modification will apply only with respect to Participant Accounts established after the effective date of the modification.

OPTIONAL LIVING BENEFIT: INCOME RISER

Currently, you may elect to participate in Income Riser (“SIR”) on or before your Issue Date. SIR provides an annual income guarantee for life. You can withdraw up to a guaranteed amount each year and, provided you meet certain requirements, we will continue to send you the guaranteed amount even if your Account Value should go to zero. Your income amount will not decrease, provided that your withdrawals do not exceed the guaranteed amount in any year. In general, the longer you wait for your first withdrawal under SIR, the larger the guaranteed Annual Withdrawal Amount. To describe how SIR works, we use the following definitions:

Annual Withdrawal Amount:	The total guaranteed amount available for withdrawal each Account Year during your life, provided that you comply with certain conditions. The Annual Withdrawal Amount is equal to your current Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. (You should be aware that certain actions you take could significantly reduce the amount of your Annual Withdrawal Amount.)
Early Withdrawal:	Any withdrawal taken prior to your SIR Coverage Date.
Excess Withdrawal:	Any withdrawal taken after your SIR Coverage Date that exceeds your Annual Withdrawal Amount (or your Yearly Required Minimum Distribution Amount, if greater).
Lifetime Withdrawal Percentage:	The percentage used to calculate your Annual Withdrawal Amount.

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SIR Bonus Base:	The amount on which bonuses are calculated. The SIR Bonus Base is equal to the sum of your Purchase Payments, increased by any “step-ups” (described below) and reduced proportionately by any withdrawal taken prior to your SIR Coverage Date or any Excess Withdrawals. (See “Excess Withdrawals” under “Withdrawals Under SIR.”)
SIR Bonus Period:	A ten-year period commencing on the Issue Date and ending on your tenth Account Anniversary. If you “step up” SIR (described below) during the SIR Bonus Period, the SIR Bonus Period is extended to ten years from the date of the step-up.
SIR Coverage Date:	Your Issue Date if you are at least age 59 at issue; otherwise, the first Account Anniversary after you attain age 59.
Withdrawal Benefit Base:	The amount used to calculate (1) your Annual Withdrawal Amount and (2) your “SIR Fee.” (See “Cost of SIR.”)
You and Your:	The terms “you” and “your” refer to the oldest living Participant or the surviving spouse of the oldest Participant, as described under “Death of Participant Under SIR with Joint-Life Coverage.” In the case of a non-natural Participant, these terms refer to the oldest living Annuitant.

SIR may not be appropriate for all investors. Before purchasing SIR, you should carefully consider the following:

SIR may be appropriate for you if you are an investor who:

• wants an opportunity for annual income to increase as you grow older.

• wants a guaranteed stream of income for life without annuitizing, beginning on or after your SIR Coverage Date.

• wants the option of joint-life coverage.

• can defer withdrawals during your early Account Years to increase your benefit in later years.

SIR may be inappropriate for you if you are an investor who:

• anticipates the need for Excess Withdrawals or Early Withdrawals.

• wants to invest in funds other than a Designated Fund.

• wants single-life coverage on a co-owned Contract.

SIR is inappropriate if you are an investor who:

• wants to make additional Purchase Payments after the first Account Year.

• is actively invested in contributory plans, because SIR prohibits any Purchase Payments after the first Account Anniversary.

You may combine SIR with the MAV optional death benefit. Upon annuitization, SIR and the MAV optional death benefit, if elected, automatically terminate.

You may elect to participate in SIR, provided that:

• neither the oldest Participant nor the oldest Annuitant has attained age 86 on or before the date we receive your application (in the case of a non-natural Participant, the oldest Annuitant has not attained age 86 on or before that date);

• you limit the allocation of your Purchase Payments and Account Value to the Designated Funds that we make available with SIR; and

• you do not elect any other optional living benefit available under your Contract.

SIR allows you to withdraw a guaranteed amount of money each year, beginning on your SIR Coverage Date, until the death of any Participant if single-life coverage is elected (or until the death of both the Participant and the Participant’s

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spouse if joint-life coverage is elected). Your right to take withdrawals under SIR continues regardless of the investment performance of the Designated Funds, provided that you comply with certain requirements. After your SIR Coverage Date, the amount you can withdraw, in any one year, can be 4%, 5%, or 6% of your Withdrawal Benefit Base, depending upon your age (or the younger spouse’s age in case of joint-life coverage) on the date of your first withdrawal.

In addition, if you make no withdrawals in an Account Year during your SIR Bonus Period, we will increase your Withdrawal Benefit Base by an amount equal to 7% of your SIR Bonus Base (6% if you purchased your Contract prior to February 8, 2010, or the date SIR with a 7% bonus became available in your state). The SIR Bonus Period is a 10-year period commencing on your Issue Date. The period will be extended for an additional 10 years commencing on each step-up of the Withdrawal Benefit Base (see “Step-Up Under SIR”), provided that the step-up occurs during the SIR Bonus Period.

If you are participating in SIR, you may make Purchase Payments only during your first Account Year. After the first Account Anniversary, any Purchase Payments you submit will be returned to you.

To participate in SIR, all of your Account Value must be invested in one or more of the Designated Funds at all times during the term of SIR. (The “term” of SIR is for life, unless your Withdrawal Benefit Base is reduced to zero or SIR is terminated or cancelled as described under “Cancellation of SIR,” “Depleting Your Account Value,” and “Annuitization Under SIR.”) The only Funds, dollar-cost averaging program options, and asset allocation models that currently qualify as Designated Funds are listed in the section entitled “DESIGNATED FUNDS.”

Under SIR, you have the option of choosing between single-life coverage and joint-life coverage. These options are described in greater detail under “Joint-Life Coverage,” “Death of Participant Under SIR with Single-Life Coverage,” and “Death of Participant Under SIR with Joint-Life Coverage.”

Determining Your Withdrawal Benefit Base

On the Issue Date, we set your Withdrawal Benefit Base equal to your initial Purchase Payment. Thereafter, your Withdrawal Benefit Base is:

• increased by any applicable bonuses;

• increased by any step-ups as described under “Step-Up Under SIR”;

• increased by any subsequent Purchase Payments you make during the first year following the Issue Date.

• decreased following any Early Withdrawals you take as described under “Early Withdrawals”; and

• decreased following any Excess Withdrawals you take as described under “Excess Withdrawals”.

Determining Your Annual Withdrawal Amount

Your Annual Withdrawal Amount is first determined when you make your first withdrawal after your SIR Coverage Date and then on each subsequent Account Anniversary. Your Annual Withdrawal Amount is equal to your Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. The Lifetime Withdrawal Percentage depends upon your age at the time you make your first withdrawal after your SIR Coverage Date as shown in the table below.

Your Age on the Date of the First  Withdrawal After Your SIR Coverage Date*	Lifetime Withdrawal Percentage
59 - 64	4%
65 - 79	5%
80 or older	6%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage.”

Your Lifetime Withdrawal Percentage will only increase if your age at the time of step-up coincides with a higher percentage as shown in the table above. (See “Step-Up Under SIR.”) An increase in the Lifetime Withdrawal Percentage will increase your Annual Withdrawal Amount.

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Your Annual Withdrawal Amount equals your Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. If your Withdrawal Benefit Base changes after your Annual Withdrawal Amount is determined, your Annual Withdrawal Amount will also change. The new Annual Withdrawal Amount will be effective on the next Account Anniversary and, at that time, will reflect any increases caused by a step-up or a bonus that took place during the prior Account Year and any decreases caused by Excess Withdrawals (described below) that were taken during the prior Account Year. The new Annual Withdrawal Amount will be in effect for all subsequent Account Years, unless and until there is a further change in your Withdrawal Benefit Base.

How SIR Works

Each Account Year, beginning on your SIR Coverage Date, you can take withdrawals totaling up to the amount of your Annual Withdrawal Amount, subject to the terms and conditions discussed below. Even if your Account Value is reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), as long as your Withdrawal Benefit Base is greater than zero, you will receive your full Annual Withdrawal Amount every year until you die.

If you defer taking any withdrawals in an Account Year during the SIR Bonus Period, your Withdrawal Benefit Base will be increased by an amount equal to 7% of your SIR Bonus Base (6% if you purchased your Contract prior to February 8, 2010, or the date SIR with a 7% bonus became available in your state). However, if this amount is less than the amount you will receive under a step-up, the Withdrawal Benefit Base will instead be increased by the step-up amount, unless there is a fee increase as described under “Step-Up Under SIR.” In the case of a fee increase, we will notify you in writing, in advance of your Account Anniversary, and seek your written consent to the step-up and fee increase. If you do take a withdrawal, you are still eligible for step-up. (See “Step-Up under SIR.”) In this way, if you defer taking withdrawals during your early Account Years, you will be able to take larger withdrawals in later Account Years. Your Annual Withdrawal Amount is not, however, cumulative: any unused portion of your Annual Withdrawal Amount in any Account Year cannot be applied to a future year.

Note that the timing and amount of your withdrawals may significantly decrease, and even terminate, your total benefits under SIR, including reducing your Account Value to zero and thereby terminating your Contract without value, as described further under “Withdrawals Under SIR.” Note also that investing in any Fund, other than a Designated Fund, will cancel SIR, as described under “Cancellation of SIR.”

Here is an example of how SIR works.

Assume that you purchased a Contract with an initial Purchase Payment of $100,000. Assume also that you are age 65 when your Contract is issued and that you elected to participate in SIR with single-life coverage. (If you selected joint-life coverage the numbers shown in the example could be different.) Your Withdrawal Benefit Base and your SIR Bonus Base are each set equal to your initial Purchase Payment on your Issue Date. Because you reached age 59 prior to your Issue Date, your SIR Coverage Date is your Issue Date. You can begin at any time to withdraw up to your Annual Withdrawal Amount each Account Year without reducing your Withdrawal Benefit Base. During the SIR Bonus Period, your Withdrawal Benefit Base will increase by 7% of your SIR Bonus Base each Account Year in which you do not take a withdrawal. By deferring your withdrawals during a SIR Bonus Period you will increase your Withdrawal Benefit Base, which in turn may maximize your Annual Withdrawal Amount. After the SIR Bonus period is over, you will no longer be eligible for the 7% bonus each year and it may be in your interest to take the full Annual Withdrawal Amount each year. However, any withdrawal will reduce your Account Value as well as your chances of a higher Annual Withdrawal Amount through step-up. When to take withdrawals will depend upon your own situation. You should discuss your living benefit options with your financial adviser. (For convenience, assume that the investment performance of your underlying investments equals or offsets all Contract expenses. Therefore, your Account Value remains constant throughout the life of your Contract, except for Account Year 2.)

Assume that, because of good investment performance of the Designated Funds during Account Year 2, your Account Value has grown to $125,000 by the beginning of Account Year 3. Your Contract is, therefore, eligible for an automatic step-up of its Withdrawal Benefit Base and SIR Bonus Base. Assume that we have not increased the percentage used to calculate the SIR Fee on newly issued Contracts; therefore we will step up your Withdrawal Benefit Base and your SIR Bonus Base to $125,000. Your new Annual Withdrawal Amount will be

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5% of your new Withdrawal Benefit Base, or $6,250. Going forward, your new SIR Bonus Base will be $125,000, unless increased by another step-up or reduced by an Excess Withdrawal, and your SIR Bonus Period will now end on your 12^th Account Anniversary (i.e., ten years after the step-up). All values shown are as of the beginning of the Account Year.

Account Year	Account Value	Withdrawal Benefit Base	SIR Bonus Base	Annual Withdrawal Amount	Withdrawals
1	$100,000	$100,000	$100,000	$5,000	$0
2	$100,000	$107,000	$100,000	$5,350	$0
3	$125,000	$125,000	$125,000	$6,250	$0
Assume you take your first withdrawal when you are age 71 in Account Year 7. Using the above chart, we set your Lifetime Withdrawal Percentage at 5%. Your Annual Withdrawal Amount will be equal to 5% of your Withdrawal Benefit Base. You can begin withdrawing up to $8,000 each Account Year without reducing your Withdrawal Benefit Base, as shown in the following table:
4	$125,000	$133,750	$125,000	$6,688	$0
5	$125,000	$142,500	$125,000	$7,125	$0
6	$125,000	$151,250	$125,000	$7,563	$0
7	$125,000	$160,000	$125,000	$8,000	$8,000
8	$117,000	$160,000	$125,000	$8,000	$8,000
Assume in Account Year 9, you defer taking a withdrawal. Your Withdrawal Benefit Base will increase by $8,750 which is 7% of your SIR Bonus Base ($125,000). Your new Annual Withdrawal Amount will be set equal to $8,438, which is 5% of your new Withdrawal Benefit Base ($168,750), as shown below:
9	$109,000	$160,000	$125,000	$8,000	$0
10	$109,000	$168,750	$125,000	$8,438	$8,438
Assume that in Account Year 14, you again decide to defer taking a withdrawal. Your Withdrawal Benefit Base will not be increased because you are no longer in the SIR Bonus Period, as your SIR Bonus Period ends 10 years after the previous step-up.
11	$100,562	$168,750	$125,000	$8,438	$8,438
12	$ 92,124	$168,750	$125,000	$8,438	$8,438
13	$ 83,686	$168,750	$125,000	$8,438	$8,438
14	$ 75,248	$168,750	$125,000	$8,438	$0
15	$ 75,248	$168,750	$125,000	$8,438	$8,438

If you have SIR with a 6% bonus, the numbers shown in the above example would be different.

There is no way to know for certain whether forgoing income in one or more years will increase or decrease the total income paid to the Participant over the life of the annuity. Generally speaking, not taking income in a year will increase the Annual Withdrawal Amount during the SIR Bonus Period due to the bonus and the potential for step-ups. In this way, if you defer taking withdrawals during your early Account Years, you will be able to take larger withdrawals in later Account Years. Your Annual Withdrawal Amount is not, however, cumulative: any unused portion of your Annual Withdrawal Amount in any Account Year cannot be applied to a future year.

The total lifetime payments to the Participant could be more or less depending upon investment performance over the life of the Contract and the age to which the Participant lives. Better investment performance and a longer life span generally make it advantageous to forgo the Annual Withdrawal Amount in a limited number of years.

Withdrawals Under SIR

Withdrawals After the SIR Coverage Date

Starting on your SIR Coverage Date and continuing to your Annuity Commencement Date, you may take withdrawals totaling up to your Annual Withdrawal Amount each Account Year without reducing your Withdrawal Benefit Base.

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These withdrawals will reduce your Account Value by the amount of the withdrawal, but will not change your Withdrawal Benefit Base. These withdrawals are subject to withdrawal charges only to the extent they are in excess of the greatest of:

• the free withdrawal amount permitted under your Contract (discussed under “Free Withdrawal Amount” under “Withdrawal Charge”);

• your Yearly Required Minimum Distribution Amount (subject to conditions discussed under “Tax Issues Under SIR”); and

• your Annual Withdrawal Amount.

The previous example shows withdrawals taken after your SIR Coverage Date. Because they do not exceed your Annual Withdrawal Amount (or your Required Minimum Distribution amount, if higher), the withdrawals do not reduce your Withdrawal Benefit Base or your Annual Withdrawal Amount. The withdrawals in the above example are not subject to any withdrawal charges because they do not exceed any of the following:

• your free withdrawal amount permitted under this Contract,

• your Yearly Required Minimum Distribution Amount, or

• your Annual Withdrawal Amount.

If a withdrawal exceeds the greatest of these amounts, then the withdrawal would be subject to withdrawal charges.

Excess Withdrawals

If you take an Excess Withdrawal, your SIR Bonus Base and your Withdrawal Benefit Base will be reduced according to the following formulas:

Your new SIR Bonus Base	=	BB x	(	AV - WD	)
				AV - AWA
Your new Withdrawal Benefit Base	=	WBB x	(	AV - WD	)
				AV - AWA

Where:
	BB	=	Your SIR Bonus Base immediately prior to the Excess Withdrawal.
	WBB	=	Your Withdrawal Benefit Base immediately prior to the Excess Withdrawal.
	WD	=	The amount of the Excess Withdrawal.
	AV	=	Your Account Value immediately prior to the Excess Withdrawal.
	AWA	=	Your Annual Withdrawal Amount minus any prior partial withdrawals taken during the current Account Year.

Using the facts of the above example, assume that in Account Year 7, you take two withdrawals: a $4,000 withdrawal followed by a $6,000 withdrawal. Your first withdrawal reduces your Account Value to $121,000 but does not affect your SIR Bonus Base or Withdrawal Benefit Base because it is not in excess of your Annual Withdrawal Amount. Your second withdrawal (when combined with the first) is in excess of your $8,000 Annual Withdrawal Amount. After your second withdrawal, your SIR Bonus Base and your Withdrawal Benefit Base will be reduced as follows:

Your new SIR Bonus Base	=	$	125,000	x	$121,000 - $6,000
					$121,000 - ($8,000 - $4,000)

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	=	$	125,000	x	$115,000
					$117,000
	=	$	125,000	x	0.982906
	=	$	122,863
Your new Withdrawal Benefit Base	=	$	160,000	x	$121,000 - $6,000
					$121,000 -($8,000 - $4,000)
	=	$	160,000	x	$115,000
					$117,000
	=	$	160,000	x	0.982906
	=	$	157,265

Beginning on your Account Anniversary and going forward, your new Annual Withdrawal Amount will be reduced to 5% of your new Withdrawal Benefit Base, or $7,863.

If you have SIR with a 6% bonus, the numbers shown in the above example would be different.

You should be aware that, if your Account Value is less than the Withdrawal Benefit Base at the time an Excess Withdrawal is taken (as in the above example), then your Withdrawal Benefit Base and your SIR Bonus Base will be reduced by an amount equal to or more than the excess amount withdrawn. Thus, Excess Withdrawals taken in a down market could severely reduce, and even terminate, your benefits under SIR, including reducing your Account Value to zero and thereby terminating your Contract without value.

Early Withdrawals

All withdrawals taken before your SIR Coverage Date, including any “free withdrawal amounts” permitted under your Contract, will be considered Early Withdrawals and your SIR Bonus Base and your Withdrawal Benefit Base will be reduced using the following formulas:

Your new SIR Bonus Base	=	BB x	(	AV - WD	)
				AV
Your new Withdrawal Benefit Base	=	WBB x	(	AV - WD	)
				AV

Where:
	BB	=	Your SIR Bonus Base immediately prior to the Early Withdrawal.
	WBB	=	Your Withdrawal Benefit Base immediately prior to the Early Withdrawal.
	WD	=	The amount of the Early Withdrawal.
	AV	=	Your Account Value immediately prior to the Early Withdrawal.

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Assume that you purchase a Contract with an initial Purchase Payment of $100,000. Assume also that you are age 45 when your Contract is issued and that you elected to participate in SIR with single-life coverage. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Withdrawal Benefit Base and your SIR Bonus Base are each set equal to your initial Purchase Payment on your Issue Date. Your Withdrawal Benefit Base will increase by 7% of your SIR Bonus Base each year in which you do not take a withdrawal. Your SIR Coverage Date will not occur until your 15^th Account Anniversary (the first Account Anniversary after you reach age 59). Any withdrawals you take prior to that time will be Early Withdrawals.

Assume that because of good investment performance of the Designated Funds during Account Year 2, your Account Value has grown to $125,000 on your second Account Anniversary. Your Contract is therefore eligible for an automatic step-up of its Withdrawal Benefit Base and SIR Bonus Base. Assume that we have not increased the percentage used to calculate the SIR Fee on newly issued Contracts; therefore, we will step-up your Withdrawal Benefit Base and your SIR Bonus Base to $125,000.

Assume that, in Account Year 7, your Account Value has grown to $130,000 and you withdraw $10,000. Because you are age 51 (and younger than age 59), this is an Early Withdrawal. All values shown are as of the beginning of the Account Year.

Account Year	Account Value	Withdrawal Benefit Base	SIR Bonus Base	Annual Withdrawal Amount	Withdrawals
1	$100,000	$100,000	$100,000	$0	$0
2	$100,000	$107,000	$100,000	$0	$0
3	$125,000	$125,000	$125,000	$0	$0
4	$125,000	$133,750	$125,000	$0	$0
5	$125,000	$142,500	$125,000	$0	$0
6	$125,000	$151,250	$125,000	$0	$0
7	$130,000	$160,000	$125,000	$0	$10,000

At this point, your SIR Bonus Base and your Withdrawal Benefit Base will be recalculated as follows:

Your new SIR Bonus Base	=	$	125,000	x	$130,000 - $10,000
					$130,000
	=	$	125,000	x	$120,000
					$130,000
	=	$	125,000	x	0.92308
	=	$	115,385
Your new Withdrawal Benefit Base	=	$	160,000	x	$130,000 -$10,000
					$130,000
	=	$	160,000	x	$120,000
					$130,000
	=	$	160,000	x	0.92308
	=	$	147,693

Your Annual Withdrawal Amount will still be $0 because you have not reached your SIR Coverage Date.

If you have SIR with a 6% bonus, the numbers shown in the above example would be different.

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You should be aware that Early Withdrawals could severely reduce, and even terminate, your benefits under SIR, including reducing your Account Value to zero and thereby terminating your Contract without value.

In addition to reducing your benefits under SIR, any withdrawal before you reach age 59¹⁄₂ could have adverse state and federal tax liabilities. You should consult a qualified tax professional for more information.

Depleting Your Account Value

If your Account Value is reduced to zero immediately following an Excess Withdrawal or an Early Withdrawal, then your Withdrawal Benefit Base and the SIR Bonus Base will each also be reduced to zero and your Contract will terminate without value. Therefore, your Contract, as well as any benefits available with SIR, will end.

If, on the other hand, your Account Value is reduced to zero through any combination of poor investment performance of the Designated Funds, Contract charges, and withdrawals other than Excess Withdrawals or Early Withdrawals, your Withdrawal Benefit Base will not be reduced. Your Contract will end, but your right to receive an annual withdrawal amount will continue. That is to say, regardless of your age on the day the Account Value is reduced to zero, you will be entitled to receive your Annual Withdrawal Amount each year for as long as you live.

Cost of SIR

If you elect SIR, we will deduct a quarterly fee from your Account Value (“SIR Fee”). The SIR Fee will be taken as a specific deduction from your Account Value on the last valuation day of each Account Quarter. The SIR Fee will be a percentage of your Withdrawal Benefit Base. This percentage will equal 0.2750% of your Withdrawal Benefit Base on the last day of the Account Quarter if you elected single-life coverage (0.3250% for joint-life coverage). The maximum SIR Fee you can pay in any one Account Year is equal to 1.10% of the highest Withdrawal Benefit Base at any point in that Account Year if you elected single-life coverage (1.30% for joint-life coverage). We reserve the right to increase the percentage rate used to calculate the SIR Fee on newly issued Contracts.

Your SIR Fee will not change during an Account Year, unless you take one of the following specific actions:

• If you make an additional Purchase Payment during your first Account Year, you will increase your Withdrawal Benefit Base and thus your SIR Fee.

• If you make a withdrawal before your SIR Coverage Date or a withdrawal in excess of your Annual Withdrawal Amount, you will decrease your Withdrawal Benefit Base and thus your SIR Fee.

However, on each Account Anniversary, we determine whether favorable investment performance of the Designated Funds may cause the Withdrawal Benefit Base to increase as described under “Step-Up Under SIR.” If your Withdrawal Benefit Base increases because of favorable investment performance, your SIR Fee will also increase because it is recalculated on each Account Anniversary based upon your highest Withdrawal Benefit Base during that Account Year.

We will continue to deduct the SIR Fee until you annuitize your Contract, your Account Value reduces to zero, or your SIR is terminated or cancelled as described under “Cancellation of SIR”.

We reserve the right to make special offers from time to time. Specifically, we reserve the right to waive the SIR Fee for a limited period on newly issued Contracts. The same waiver would apply to all Contracts issued while we are making the special offer.

Step-Up Under SIR

Regardless of your age on the Issue Date, on each Account Anniversary prior to your Annuity Commencement Date, we will automatically step-up your Withdrawal Benefit Base and your SIR Bonus Base, provided that you satisfy certain requirements. First, you must meet eligibility requirements:

• Your Account Value must equal no more than $5,000,000. (For purposes of determining the $5,000,000 limit, we reserve the right, in our sole discretion, to aggregate your Account Value with the account values of all other variable annuity contracts you own issued by Delaware Life Insurance Company or its affiliates.)

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• Your Account Value must be greater than your current Withdrawal Benefit Base (increased by any applicable 7% or 6% bonus during the SIR Bonus Period).

Second, if you satisfy the eligibility requirements, we then consider whether market conditions have caused us to increase the percentage rate used to calculate the SIR Fee on newly issued Contracts. If we are no longer issuing Contracts with SIR, then the percentage rate we use to calculate your SIR Fee will be set based upon current market conditions at that time.

• If we have not had to increase the percentage rate as described above, the percentage rate we use to calculate your SIR Fee will remain unchanged and we will automatically step-up your Withdrawal Benefit Base and your SIR Bonus Base.

• If we have had to increase the percentage rate as described above, we offer you the opportunity to step-up at the higher percentage rate. In this case, your written consent is required to accept the higher percentage rate used to calculate your SIR Fee and step-up your Withdrawal Benefit Base and SIR Bonus Base. If you do not consent to the step-up and higher percentage, the step-up will not be implemented and all subsequent step-ups of your Withdrawal Benefit Base and SIR Bonus Base will also be suspended. You may thereafter submit an election form to us, however, in order to consent to the then-applicable percentage rate and thus reactivate subsequent automatic step-ups.

At the time of step-up, we will increase your Withdrawal Benefit Base and SIR Bonus Base to an amount equal to the Account Value, if such amount exceeds your current Withdrawal Benefit Base (adjusted for any applicable 7% bonus increases). If the step-up occurs during the SIR Bonus Period, your SIR Bonus Period will renew for another 10-year period commencing at the time of step-up.

If your Lifetime Withdrawal Percentage has already been determined and your age at the time of step-up coincides with a higher percentage as shown in the table below, your Lifetime Withdrawal Percentage will increase. After the step-up, your Annual Withdrawal Amount will be your Lifetime Withdrawal Percentage multiplied by your new Withdrawal Benefit Base as follows:

Your Age at  Step-up*	Lifetime Withdrawal Percentage
59 - 64	4%
65 - 79	5%
80 or older	6%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage.”

After a step-up, your Annual Withdrawal Amount will be equal to your new Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. Here is an example of how we calculate a step-up under SIR:

Assume that you purchased a Contract with an initial Purchase Payment of $100,000. Assume also that you are age 65 when your Contract is issued and that you elected to participate in SIR with single-life coverage. (If you selected joint-life coverage the numbers shown in the example could be different.) Assume that no withdrawals are taken and, therefore, your Withdrawal Benefit Base will increase annually by 7% of your SIR Bonus Base during your SIR Bonus Period. Assume further that no additional Purchase Payments are made, and, because of good investment performance of the Designated Funds during Account Year 2, your Account Value has grown to $125,000 by the beginning of Account Year 3. Your Contract is, therefore, eligible for an automatic step-up of its Withdrawal Benefit Base and SIR Bonus Base. Assume that we have not increased the percentage used to calculate the SIR Fee on newly issued Contracts; therefore we will step up your Withdrawal Benefit Base and your SIR Bonus Base to $125,000. Your new Annual Withdrawal Amount will be 5% of your new Withdrawal Benefit Base, or $6,250. All values shown are as of the beginning of the Account Year.

Account Year	Account Value	Withdrawal Benefit Base	SIR Bonus Base	Annual Withdrawal Amount	Withdrawals
1	$100,000	$100,000	$100,000	$5,000	0
2	$100,000	$107,000	$100,000	$5,350	0

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Account Year	Account Value	Withdrawal Benefit Base	SIR Bonus Base	Annual Withdrawal Amount	Withdrawals
3	$125,000	$125,000	$125,000	$6,250	0
4	$125,000	$133,750	$125,000	$6,688	0
5	$125,000	$142,500	$125,000	$7,125	0
6	$125,000	$151,250	$125,000	$7,563	0
7	$125,000	$160,000	$125,000	$8,000	0

Going forward, your new SIR Bonus Base will be $125,000, unless increased by another step-up or reduced by an Excess Withdrawal, and your SIR Bonus Period will now end on your 12^th Account Anniversary (i.e., ten years after the step-up).

If you have SIR with a 6% bonus, the numbers shown in the above example would be different.

The above example assumes that you are age 65 at issue, so that your Lifetime Withdrawal Percentage is 5%. Assume instead you are age 79 at issue and have attained age 80 on your first Account Anniversary. When your Withdrawal Benefit Base steps-up to $125,000, your new Lifetime Withdrawal Percentage is 6% since you had attained age 80 by your first Account Anniversary. Your Annual Withdrawal Amount is now $7,500.

Joint-Life Coverage

On the Issue Date, you have the option of electing SIR with single-life coverage or, for a higher SIR Fee, with joint-life coverage. Once you make the election, you cannot switch between joint-life and single-life coverage, regardless of any change in life events. Joint-life coverage is not available if you are unmarried on the Issue Date.

Joint-life coverage can be elected on an individually-owned Contract or on a co-owned Contract. On an individually-owned Contract, joint-life coverage is available only if your spouse is the sole primary beneficiary on the Issue Date and remains the sole primary beneficiary while SIR is in effect. On a co-owned Contract, joint-life coverage is available only if you and your spouse are the only co-owners on the Issue Date and remain so while SIR is in effect. Whereas single-life coverage provides annual withdrawals under SIR only until any Participant dies, joint-life coverage provides annual withdrawals under SIR for as long as either you or your spouse is alive. (Note, however, upon the death of a spouse, the Contract, including SIR, ends. To take annual withdrawals under SIR’s joint-life feature after the death of a spouse, the surviving spouse must first elect to continue the Contract through the “Spousal Continuance” provision.) See also “Death of Participant Under SIR with Joint-Life Coverage.”

If you have elected joint-life coverage, the SIR Coverage Date will be your Issue Date if the younger spouse is at least age 59 on the Issue Date, and will be the first Account Anniversary after the younger spouse attains (or would have attained) age 59 if the younger spouse is less than age 59 on the Issue Date. (For purposes of joint-life coverage, the younger spouse refers to the person who was the younger spouse on the Issue Date, even if that person has died or is no longer married to the person who was his or her spouse on the Issue Date.) Thus, Early Withdrawals will be determined based upon this definition of your SIR Coverage Date. Your Lifetime Withdrawal Percentage will be determined based on the age that the younger spouse is (or would have been) on the date of the first withdrawal under the Contract after the SIR Coverage Date, as shown in the table below.

Age of Younger Spouse on Date of the First Withdrawal After Your SIR Coverage Date	Lifetime Withdrawal Percentage
59 - 64	4%
65 - 79	5%
80 or older	6%

Your Annual Withdrawal Amount equals your Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. Once your Annual Withdrawal Amount is calculated, the Lifetime Withdrawal Percentage will not change

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except if a step-up occurs as described under “Step-Up Under SIR.” The Lifetime Withdrawal Percentage will then be reset, if higher, to the percentage for then attained age of the younger spouse.

The two spouses on the Issue Date are the only two people covered under the joint-life feature. If a Participant remarries, the new spouse is not covered under the joint-life feature. Therefore, if the spouse on the Issue Date is no longer your spouse, SIR benefits continue for your life and, when you die, annual withdrawals are no longer available. Note that, when you elect joint-life coverage, you also elect the higher joint-life fee. That fee will not change as long as SIR is in effect, regardless of any change in life events.

If one spouse is significantly younger than the other spouse, you should carefully consider whether joint-life coverage is an appropriate choice in light of the possibility of a longer waiting period before withdrawals under SIR can be made and in light of the higher fee for joint-life coverage.

Joint-life coverage may not be available on all Contracts.

Cancellation of SIR

Should you decide that SIR is no longer appropriate for you, you may cancel SIR at any time. Upon cancellation, all benefits and charges under SIR shall cease. Once cancelled, SIR cannot be reinstated.

Although transfers among the Designated Funds are permitted as described under “Transfer Privilege,” SIR will be cancelled automatically:

• if any Purchase Payment is allocated to an investment option other than a Designated Fund; or

• if any portion of Account Value maintained in a Designated Fund is transferred into an investment option other than a Designated Fund.

SIR will also be cancelled for any of the following:

• upon a termination of the Contract;

• upon annuitization*; or

• your Withdrawal Benefit Base is reduced to zero as a result of Early or Excess Withdrawals.

*Note that the Maximum Annuity Commencement Date permitted under this Contract is the first day of the month following the Annuitant’s 95^th birthday. (See “Selection of Annuity Commencement Date.”)

A change of ownership of the Contract may also cancel your benefits under SIR.

Death of Participant Under SIR with Single-Life Coverage

If you selected single-life coverage, SIR terminates on the death of any Participant and the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract.

Note that single-life coverage may be inappropriate on a co-owned Contract, because the living benefit will end on the death of any Participant. Note also that Beneficiaries who are not spouses cannot continue the Contract (see “Spousal Continuance”) or any living benefit under the Contract. Co-owners who are not spouses should, therefore, discuss with their financial adviser whether a living benefit is appropriate for them.

Death of Participant Under SIR with Joint-Life Coverage

If the surviving spouse on the Death Benefit Date was not the spouse of a Participant on the original Contract’s Issue Date, then this section does not apply, even if joint-life coverage was elected. In such case, if a Participant dies while participating in SIR, the provisions of the section titled “Death of Participant Under SIR with Single-Life Coverage” will apply.

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If you purchased joint-life coverage and one of the Participants dies, SIR will continue, provided that the surviving spouse, as the sole primary beneficiary, continues the Contract. In such case:

• the new Account Value will be equal to the Death Benefit;

• the SIR Fee for the joint-life coverage option will continue for the surviving spouse as it was immediately prior to the death of the Participant;

• the Withdrawal Benefit Base and the SIR Bonus Base will remain unchanged until the next Account Anniversary when a step-up could apply due to an increase in Account Value (see “Step-Up Under SIR”);

• if withdrawals under SIR have not yet begun, the Lifetime Withdrawal Percentage will be based on the age the younger spouse attains (or would have attained) on the date of the first withdrawal after the SIR Coverage Date;

• if withdrawals under SIR have already begun, the Lifetime Withdrawal Percentage will be the Lifetime Withdrawal Percentage that applied to the Contract prior to the death of the Participant; and

• the SIR Bonus Period will continue unchanged from the original contract.

At the death of the surviving spouse, the Contract, including SIR, will terminate.

If you purchased joint-life coverage and the deceased Participant’s surviving spouse does not continue the Contract, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Annuitization Under SIR

Under the terms of SIR, if your Account Value is greater than zero on your Maximum Annuity Commencement Date, you may elect to:

(1) surrender your Contract and receive your Cash Surrender Value,

(2) annuitize your Account Value under one of the then currently available Annuity Options, or

(3) annuitize your remaining Account Value as a single-life annuity (or a joint-life annuity, if joint-life coverage was elected at issue and is still eligible) with an annualized annuity payment of not less than your then current Annual Withdrawal Amount.

If you make no election, we will default your choice to option 3.

If your Account Value has been reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Withdrawal Benefit Base is greater than zero on or before your Maximum Annuity Commencement Date, you will receive your full Annual Withdrawal Amount until you die. For a more complete discussion of this, see “Depleting Your Account Value.”

Tax Issues Under SIR

Certain state and federal income tax provisions may be important to you in connection with a living benefit. If your Contract is a Non-Qualified Contract, it is possible that the election of an optional living benefit, such as SIR, might increase the taxable portion of any withdrawal you make from the Contract. It is not clear whether withdrawals after the Coverage Date while the Contract value is greater than zero will be taxed as withdrawals or as annuity payments. This is significant for Non-Qualified Contracts because withdrawals are taxed less favorably than are annuity payments. In view of this uncertainty, we intend to adopt a conservative approach and treat such payments as withdrawals for tax purposes. We intend to treat payments pursuant to SIR after the Contract value becomes zero as annuity payments for tax purposes.

You may not elect a Living Benefit with an inherited Non-Qualified Contract or beneficiary IRA Contract.

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If your Contract is a Qualified Contract, then the retirement plan governing that Qualified Contract may be subject to certain required minimum distribution (RMD) provisions imposed by the Internal Revenue Code (the “Code”) and Internal Revenue Service (“IRS”) regulations (collectively, the “Federal Tax Laws”). These RMD provisions require that an amount be distributed from the retirement plan each year. If you were born before July 1, 1949, your required beginning date is April 1 of the calendar year following the calendar year in which you reach age 70 ½. If you were born on or after July 1, 1949, your required beginning date is April 1 of the calendar year following the calendar year in which you reach age 72. For non-IRAs, distributions must begin no later than April 1 of the calendar year following the year in which you attain the applicable age or the date of retirement instead of age 72 if it is later. For that year, and each succeeding year, a distribution must be made on or before December 31. Your failure to withdraw your yearly RMD amount from your retirement plan could result in adverse tax treatment. Because for certain retirement plans we do not know what assets are held by the plan, we have assumed for all plans that the Qualified Contract (i.e., your Contract) is the only asset, and we determine a yearly RMD amount taking into account only your Contract (“Yearly RMD Amount”).

When you elect to participate in SIR, we will inform you that you may withdraw amounts up to your Yearly RMD Amount each year without reducing your Withdrawal Benefit Base. To assist you in complying with the RMD requirements, in January of each year, we will notify you of your calculated Yearly RMD Amount and inform you that you may withdraw amounts up to your Yearly RMD Amount each Account Year without reducing your Withdrawal Benefit Base.

To the extent that the Yearly RMD Amount attributable to your Contract exceeds the Annual Withdrawal Amount permitted each year under SIR, we currently are waiving withdrawal provisions as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in SIR, then we will reduce your Account Value dollar-for-dollar by the amount of the withdrawal. In addition, for that year only, your Annual Withdrawal Amount under SIR will be reduced, dollar-for-dollar, by the amount of the withdrawal. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than your Annual Withdrawal Amount. In other words, we will not reduce your Annual Withdrawal Amount for future years (or your Withdrawal Benefit Base or SIR Bonus Base), if a Yearly RMD Amount exceeds your Annual Withdrawal Amount, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in your receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

Currently, any withdrawal in excess of the Annual Withdrawal Amount that is taken to satisfy the Yearly RMD Amounts will not be treated as an Excess Withdrawal. However, if there is any material change to the current Code or IRS Rules governing the timing or determination of required minimum distribution amounts, then the Company reserves the right to treat any withdrawal greater than the Annual Withdrawal Amount as an Excess Withdrawal which may significantly reduce the Withdrawal Benefit Base.

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS.”

DESIGNATED FUNDS

To participate in an optional living benefit, all of your Account Value must be invested only in Designated Funds at all times during the term of your optional living benefit.

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For Contracts participating in SIR with a 7% bonus, the only Funds, dollar-cost averaging program options, and asset allocation models that currently qualify as Designated Funds are as follows:

Asset Allocation Models	Funds
Build Your Own Portfolio	AB Dynamic Asset Allocation Portfolio, Class B
Blended Model	MFS® Conservative Allocation Portfolio, Service Class
	MFS® Global Tactical Allocation Portfolio, Service Class
Dollar-Cost Averaging Program Options	MFS® Moderate Allocation Portfolio, Service Class
6-Month DCA Guarantee Option	PIMCO All Asset Portfolio, Administrative Class
12-Month DCA Guarantee Option	PIMCO Global Managed Asset Allocation Portfolio, Advisor Class
	Putnam VT Multi-Asset Absolute Return Fund, Class IB

For all other Contracts participating in a living benefit including SIR with a 6% bonus, the only Funds, dollar-cost averaging programs, and asset allocation models that are deemed to be Designated Funds are:

Asset Allocation Models	Funds (continued)
90/10 Masters Model1, 2	Fidelity® Freedom 2015 Portfolio, Service Class 2 (of Variable Insurance Products Fund IV)
80/20 Masters Model2,3
Build Your Own Portfolio	Fidelity® Freedom 2020 Portfolio, Service Class 2 (of Variable Insurance Products Fund IV)
Blended Model2
	Invesco V.I. Equity and Income Fund, Series II2
Dollar-Cost Averaging Program Options	MFS® Conservative Allocation Portfolio, Service Class2
6-Month DCA Guarantee Option 12-Month DCA Guarantee Option	MFS® Global Tactical Allocation Portfolio, Service Class
	MFS® Growth Allocation Portfolio, Service Class2
Funds	MFS® Moderate Allocation Portfolio, Service Class2
AB Balanced Wealth Strategy Fund, Class B2 AB Dynamic Asset Allocation Portfolio, Class B2 BlackRock Global Allocation V.I. Fund, Class III2 Fidelity® Balanced Portfolio, Service Class 2 (of     Variable Insurance Products Fund III)	MFS® Total Return Series, Service Class PIMCO All Asset Portfolio, Administrative Class PIMCO Global Managed Asset Allocation Portfolio, Advisor Class2 Putnam VT Multi-Asset Absolute Return Fund, Class IB2

¹  Not available to Contracts purchased on or after February 17, 2009.

²  Not available if you purchased your Contract through a Bank of America representative between April 25, 2005 and April 20, 2007.

³  Not available to Contracts purchased on or after August 17, 2009.

One of the asset allocation models that qualifies as a Designated Fund is the portfolio model that applies to our “build your own portfolio” program. That portfolio model and the “build your own portfolio” program are described in “BUILD YOUR OWN PORTFOLIO” and in “APPENDIX S - BUILD YOUR OWN PORTFOLIO.”

If you elected to participate in Income ON Demand II (“IOD II”), Income ON Demand II Escalator (“IOD II Escalator”), Income ON Demand II Plus (“IOD II Plus”), Retirement Income Escalator II (“RIE II”), Income ON Demand III Escalator (“IOD III Escalator”), or Income Riser (“SIR”) and are invested in more than one Designated Fund, we will automatically transfer assets among your Designated Funds to maintain the percentage allocation you selected. We will make these transfers on a quarterly basis.

If you purchased Secured Returns, Secured Returns 2, Secured Returns for Life, Secured Returns for Life Plus, Income ON Demand (“IOD”), Retirement Income Escalator (“RIE”), or Retirement Asset Protector, and you are invested in

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more than one Designated Fund, we will not automatically transfer your assets among your Designated Funds to maintain the percentage allocation you selected, unless you have instructed us to do so.

We reserve the right to declare that a particular Fund no longer qualifies as a Designated Fund. Written notice will be provided to Contract Owners whenever a fund is no longer considered to be a Designated Fund. If you are invested in a Designated Fund at the time we declare the Fund to no longer be a Designated Fund, your Account Value can remain in that Fund without canceling your participation in a living benefit. However, any transfers or future Purchase Payments may only be allocated to a Fund that is declared by us to be a Designated Fund at the time of the transaction. If you are invested in a Fund that has been declared by us to no longer be a Designated Fund, you must first transfer your Account Value from that Fund into one or more of the current Designated Fund(s) if you want to make subsequent Purchase Payments or any additional transfers. (Note that this restriction does not apply to automatic portfolio rebalancing. Likewise, if you are participating in a DCA program and one of the funds receiving transfers under the DCA program is declared no longer to be a Designated Fund, then your Account Value can remain invested in that Fund until the end of your DCA Period. However, before you make any subsequent Purchase Payments, you must first transfer all your Account Value from that Fund into one or more of the current Designated Funds and provide us with new allocation instructions for your DCA program.) We also reserve the right to close Funds only to new Contracts. We will, however, revise the prospectus to give notice to prospective investors of the closing of any Fund. If a Designated Fund is closed only to new Contracts, any current Account Value may remain in that Fund and future transfers and Purchase Payments to that Fund are permissible, as long as the Fund is still declared by us to be a Designated Fund.

Note that, on IOD, IOD II, IOD II Plus, IOD II Escalator, RIE, RIE II, IOD III Escalator, and SIR, we have reserved the right to allow step-ups only if your Account Value is invested in a Fund that has been declared by us to be a Designated Fund. In such case, if you are invested in a Fund that has been declared by us to no longer be a Designated Fund, you will have to transfer into a current Designated Fund before a step-up can occur. If you decide not to transfer into a current Designated Fund and forgo step-up, then your living benefit will continue with all of the benefits except for step-up.

BUILD YOUR OWN PORTFOLIO

Among the choices of Designated Funds is a selection of funds (“portfolio model”) that you design yourself using certain broad guidelines that we provide. To “build your own portfolio,” you pick funds from the asset classes available at that time. Altogether you may not choose more than 18 funds for your portfolio model. The amount you may invest in each asset class is determined by a percentage range that we provide for each asset class. The sum of the percentages you invest in the asset classes altogether must total 100%. A chart showing the Funds available in each asset class and the percentage range assigned to each asset class is included in “APPENDIX S - BUILD YOUR OWN PORTFOLIO.”

You may transfer funds within the asset classes as long as your allocations remain within the percentage ranges we have established, and you adhere to the transfer provisions of your Contract. (See “Transfer Privilege,” “Short-Term Trading,” and “Funds’ Trading Policies.”) Withdrawals out of your portfolio model will be taken pro-rata from each of your selected Funds. Any additional Purchase Payments will be allocated proportionally to your current Fund selection. At any time you can change your Fund selection by providing new allocation instructions. Your new instructions will change your existing allocations accordingly. Your portfolio will be rebalanced quarterly to maintain your percentage allocations in line with the performance of the Funds over the prior quarter.

Under the terms of the living benefits, however, there are certain limits on the times when you can make additional Purchase Payments.

If at any time, a fund is closed to new business, no new payments or transfers into the fund will be permitted. However, portfolio rebalancing of the fund will continue. To make a payment into your portfolio model after a fund within the model has been closed, you must redesign your portfolio model without the closed fund. Your entire Account Value will then be reallocated to your new portfolio model. Likewise, if you are participating in a DCA program and one of the Funds in this portfolio model receiving transfers under the DCA program is declared to no longer be part of the

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portfolio model, then the program will run through to completion. However, before you make any subsequent Purchase Payments, you must first either (a) reallocate your total Account Value among funds that comply with the current Build Your Own Portfolio categories or (b) transfer your total Account Value to Designated Funds other than the Build Your Own Portfolio model. You must also provide us with new allocation instructions for your DCA program.

DEATH BENEFIT

If the Covered Person dies during the Accumulation Phase, we may pay a death benefit to the designated

Beneficiary(ies), using the payment method elected (a single cash payment or one of our Annuity Options that is available and permissible under Federal Tax Laws). If the Beneficiary is not living on the date of death of the Covered Person, we will pay the death benefit to the surviving Participant, if any, subject to conditions imposed by Federal Tax Laws or, if there is no Participant, in one sum to your estate. We do not pay a death benefit if the Covered Person dies during the Income Phase. However, the Beneficiary may receive any annuity payments provided under the Annuity Option that is in effect and that is permissible under Federal Tax Laws. If the Contract names more than one Covered Person, we will pay the death benefit upon the first death of such Covered Persons.

The death benefit proceeds will remain invested in the Sub-Accounts in accordance with the allocations made by the Contract Owner until the Beneficiary has provided us with Due Proof of Death in Good Order. Once we have received Due Proof of Death, then investments in the Variable Account may be reallocated in accordance with the Beneficiary’s instructions.

Amount of Death Benefit

To calculate the amount of the death benefit, we use a “Death Benefit Date.” The Death Benefit Date is the date we receive Due Proof of Death of the Covered Person in an acceptable form, if you have elected a death benefit payment method that is permissible under Federal Tax Laws before the death of the Covered Person and it remains in effect. Otherwise, the Death Benefit Date is the later of the date we receive Due Proof of Death or the date we receive the Beneficiary’s election of a payment method or, if the Beneficiary is your spouse, Contract continuation. If we do not receive the Beneficiary’s election within 60 days after we receive Due Proof of Death, we reserve the right to provide a lump sum to your Beneficiary.

The amount of the death benefit is determined as of the Death Benefit Date.

The Basic Death Benefit

In general, if you were 85 or younger on your Open Date, the death benefit will be the greatest of the following amounts:

(1) your Account Value for the Valuation Period during which the Death Benefit Date occurs;

(2) the amount we would pay if you had surrendered your entire Account on the Death Benefit Date; and

(3) your total Adjusted Purchase Payments (Purchase Payments x (Account Value after withdrawal ÷ Account Value before withdrawal)) as of the Death Benefit Date. (See “Calculating the Death Benefit.”) Because of the way that Adjusted Purchase Payments are computed, when the Account Value is less than the Adjusted Purchase Payments, a withdrawal may cause the basic death benefit to decrease by more than the amount of the withdrawal.

If you were 86 or older on your Open Date, the death benefit is equal to amount (2) above. Because this amount will reflect any applicable withdrawal charges and Market Value Adjustment, it may be less than your Account Value.

Optional Death Benefit

You may enhance the “basic death benefit” by electing the optional death benefit known as the Maximum Anniversary Account Value (“MAV”). You must make your election on or before the Issue Date. You will pay a charge for the optional death benefit . (For a description of the charge, see “Charges for Optional Benefits.”) The optional death

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benefit is available only if you are younger than age 75 on the Open Date. The optional death benefit election may not be changed after the Contract’s Issue Date. The optional death benefit will be adjusted for all partial withdrawals as described in this Prospectus under the heading “Calculating the Death Benefit.”

If your Contract is a Qualified Contract, required minimum distributions under the Internal Revenue Code may affect the value of this optional death benefit to you. Please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” for more information regarding tax issues that you should consider before electing this optional benefit.

Under MAV, the death benefit will be the greater of:

• the amount payable under the basic death benefit above, or

• your highest Account Value on any Account Anniversary before the Covered Person’s 81st birthday, adjusted for any subsequent Purchase Payments and partial withdrawals made between that Account Anniversary and the Death Benefit Date.

In determining the highest Account Value, on the second and each subsequent Account Anniversary, the current Account Value is compared to the previous highest Account Value, adjusted for any Purchase Payments and partial withdrawals made during the Account Year ending on that Account Anniversary. If the current Account Value exceeds the adjusted highest Account Value, the current Account Value will become the new highest Anniversary Account Value.

Spousal Continuance

Under an individually-owned Contract, if you are the Covered Person and your spouse is the sole Beneficiary, upon your death, your spouse may elect to continue the Contract by becoming the new Participant and new Covered Person, rather than receive the death benefit amount. Under a co-owned Contract, if you and your spouse are the Covered Persons and sole Beneficiaries, then upon the death of either you or your spouse, the surviving spouse may continue the Contract as the sole Participant and sole Covered Person. In either case, we will not pay a death benefit, but the Contract’s Account Value will be set to equal the death benefit amount. (See “The Basic Death Benefit” or, if applicable, the “Optional Death Benefit.”) If you are participating in a living benefit and you have joint-life coverage, then your surviving spouse may continue the Contract and the living benefit. If you are participating in a living benefit and you have single-life coverage, then your surviving spouse can continue the Contract, but the living benefit will terminate and no optional living benefit will be available to your surviving spouse. (See “Death of Participant - Single-Life Coverage.”)

All Contract provisions, including, if elected, the optional death benefit (subject to the optional death benefit age restriction), will continue as if your surviving spouse had purchased the Contract on the Death Benefit Date with a deposit equal to the death benefit amount. For purposes of calculating death benefits and expenses from that date forward, your surviving spouse’s age on the original effective date of the Contract will be used. Upon surrender or annuitization, this increased amount will not be treated as premium, but will be treated as income. If you are in a same-sex marriage, see “Definition of Spouse Under Federal Law” under “TAX PROVISIONS.”

Calculating the Death Benefit

In calculating the death benefit amount payable under option (3) of “The Basic Death Benefit” or the optional death benefit, each partial withdrawal will reduce the death benefit amount to an amount equal to the death benefit amount immediately before the withdrawal multiplied by the ratio of the Account Value immediately after the withdrawal to the Account Value immediately before the withdrawal. (See “The Basic Death Benefit.”) A withdrawal may cause the basic death benefit to decrease by more than the amount of the withdrawal.

Rather than receiving the death benefit, the Beneficiary may, subject to the requirements under the Federal Tax Laws, elect to annuitize, to defer receipt of the death benefit, or to continue the Contract. In such case, if the death benefit amount payable under the Contract is greater than your Account Value, we will increase the Account Value to equal the death benefit amount. Any such increase will be allocated to the Sub-Accounts in proportion to your Account

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Value in those Sub-Accounts on the Death Benefit Date. Also, any portion of this new Account Value attributed to the Fixed Account will be transferred to the Money Market Sub-Account (without the application of a Market Value Adjustment). If a surviving spouse, as the named Beneficiary, elects to continue the Contract after the Covered Person’s death, the surviving spouse may transfer any such Fixed Account portion back to the Fixed Account and begin a new Guarantee Period, if we are then currently offering Fixed Account options.

Method of Paying Death Benefit

The death benefit may be paid in a single cash payment or as an annuity (either fixed, variable or a combination), under one or more of our Annuity Options that is available and permissible under the Federal Tax Laws. We describe the Annuity Options in this Prospectus under “The Income Phase - Annuity Provisions.”

During the Accumulation Phase, you may elect the method of payment for the death benefit. This election can be made by sending us at our Service Address a completed election form, which we will provide. If no such election is in effect on the date of your death, the Beneficiary may elect either a single cash payment or an annuity that is permissible under the Federal Tax Laws.

We can defer payment of the death benefit to the extent permitted under the Investment Company Act of 1940. (See “Payment of Death Benefit.”)

If we pay the death benefit in the form of an Annuity Option, the Beneficiary becomes the Annuitant/Payee under the terms of that Annuity Option.

Qualified Contracts

If your Contract is a Qualified Contract, the following rules apply to the payment of the death benefit:

The death benefit may be (1) taken as an immediate lump sum, (2) deferred for any period up to December 31^st of the tenth year after your death, or (3) taken in the form of an annuity over a period that does not extend beyond December 31^st of the tenth year after your death.

If, on the date of your death, the Beneficiary is not more than ten years younger than you or is “disabled” or “chronically ill” as either of those terms is defined under Federal Tax Laws, restriction (3) above does not apply and the death benefit may also be taken in the form of an annuity over the Beneficiary’s lifetime or life expectancy.

If the sole Beneficiary is your surviving spouse, the Beneficiary may also elect to continue the Contract. This election is made by sending us written notice in a form acceptable to us. If we do not receive the Beneficiary’s election within 60 days after we receive Due Proof of Death, the Beneficiary shall be deemed to have elected to defer receipt of payment under any death benefit option until a written election is submitted to the Company or a distribution is required by law.

If the Beneficiary is your child and under the age of majority on the date of your death, the Beneficiary may elect to defer receipt of the death benefit for any period up to December 31^st of the tenth year after reaching the age of majority, or take the death benefit in the form of an annuity over a period that does not extend beyond December 31^st of the tenth year after reaching the age of majority.

Non-Qualified Contracts

If your Contract is a Non-Qualified Contract, special distribution rules apply to the payment of the death benefit. The amount of the death benefit must be distributed either (1) as a lump sum within five years after your death, or (2) if in the form of an annuity, over a period not greater than the life or expected life of the “designated beneficiary” within the meaning of Section 72(s) of the Internal Revenue Code, with payments beginning no later than one year after your death.

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The person you have named as Beneficiary under your Contract, if any, will be the “designated beneficiary.” If the named Beneficiary is not living and no contingent beneficiary has been named, the surviving Participant, if any, or the estate of the deceased Participant automatically becomes the designated beneficiary.

If the designated beneficiary is your surviving spouse, your spouse may continue the Contract in his or her own name as Participant. To make this election, your spouse must give us written notification within 60 days after we receive Due Proof of Death. The special distribution rules will then apply on the death of your spouse. To understand what happens when your spouse continues the Contract, see “Spousal Continuance.” If you are in a same-sex marriage, see “Definition of Spouse Under Federal Law” under “TAX PROVISIONS.”

During the Income Phase, if the Annuitant dies, the remaining value of the Annuity Option in place must be distributed at least as rapidly as the method of distribution under that option.

If the Participant is not a natural person, these distribution rules apply upon the death or removal of any Annuitant.

Payments made in contravention of these special rules would adversely affect the treatment of the Contracts as annuity contracts under the Internal Revenue Code. Neither you nor the Beneficiary may exercise rights that would have that effect.

Selection and Change of Beneficiary

You select your Beneficiary in your Application. You may change your Beneficiary at any time by sending us written notice on our required form, unless you previously made an irrevocable Beneficiary designation. A new Beneficiary designation is not effective until we record the change.

Every state has unclaimed property laws which generally declare annuity contracts to be abandoned after a period of inactivity of three to five years from the contract’s Annuity Commencement Date or date the death benefit is due and payable. For example, if the payment of a death benefit has been triggered, but, if after a thorough search, we are still unable to locate your Beneficiary, or your Beneficiary does not come forward to claim the death benefit in a timely manner, the death benefit will be paid to the abandoned property division or unclaimed property office of the state in which you or your Beneficiary last resided, as shown on our books and records, or to our state of domicile. This “escheatment” is revocable, however, and the state is obligated to pay the death benefit if your Beneficiary steps forward to claim it with the proper documentation. To prevent such escheatment, it is important that you update your Beneficiary designations, including full names and complete addresses, if and as they change.

Payment of Death Benefit

Payment of the death benefit in cash will be made within seven days of the Death Benefit Date, except if we are permitted to defer payment in accordance with the Investment Company Act of 1940. If an Annuity Option is elected, the Annuity Commencement Date will be the first day of the second calendar month following the Death Benefit Date, and your Account will remain in effect until the Annuity Commencement Date.

THE INCOME PHASE - ANNUITY PROVISIONS

During the Income Phase, we make regular annuity payments to the Annuitant.

The Income Phase of your Contract begins with the Annuity Commencement Date. On that date, we apply your Account Value, adjusted as described under the Annuity Option you have selected, and we make the first annuity payment.

Once the Income Phase begins, no lump sum settlement option or cash withdrawals are permitted, except pursuant to Annuity Option D, Monthly Payments for a Specified Period Certain, as described under “Annuity Options,” and you cannot change the Annuity Option selected. (Also, a Beneficiary receiving payments after the Annuitant’s death under

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Option B, Life Annuity with 60, 120, 180 or 240 Monthly Payments Certain, may elect to receive the discounted value of the remaining payments in a single sum, as discussed under “Annuity Options.”) You may request a full withdrawal before the Annuity Commencement Date, which will be subject to all charges applicable on withdrawals. (See “WITHDRAWALS, WITHDRAWAL CHARGES, AND MARKET VALUE ADJUSTMENT.”)

Selection of Annuitant(s)

You select the Annuitant in your Application. The Annuitant is the person who receives annuity payments during the Income Phase and on whose life these payments are based. In your Contract, the Annuity Options refer to the Annuitant as the “Payee.” If you name someone other than yourself as Annuitant and the Annuitant dies before the Income Phase, you become the Annuitant.

When an Annuity Option has been selected as the method of paying the death benefit, the Beneficiary is the Payee of the annuity payments.

Selection of the Annuity Commencement Date

You select the Annuity Commencement Date in your Application. The following restrictions apply to the date you may select:

• The earliest possible Annuity Commencement Date is the first Account Anniversary.

• The latest possible Annuity Commencement Date is the first day of the month following the Annuitant’s 95th birthday (“Maximum Annuity Commencement Date”). If there is a Co-Annuitant, the Annuity Commencement Date applies to the younger of the Annuitant and Co-Annuitant.

• The Annuity Commencement Date must always be the first day of a calendar month.

You may change the Annuity Commencement Date by sending us written notice, in a form acceptable to us, with the following additional limitations:

• We must receive your notice, in Good Order, at least 30 days before the current Annuity Commencement Date.

• The new Annuity Commencement Date must be at least 30 days after we receive the notice.

There may be other restrictions on your selection of the Annuity Commencement Date imposed by your retirement plan or applicable law. In most situations, current law requires that for a Qualified Contract, certain minimum distributions must commence as follows: If you were born before July 1, 1949, your required beginning date is April 1 of the calendar year following the calendar year in which you reach age 70 ½. If you were born on or after July 1, 1949, your required beginning date is April 1 of the calendar year following the calendar year in which you reach age 72. For non-IRAs, distributions must begin no later than April 1 of the calendar year following the year in which you attain the applicable age or the date of retirement instead of age 72 if it is later. For that year, and each succeeding year, a distribution must be made on or before December 31.

Annuity Options

We offer the following Annuity Options for payments during the Income Phase. Each Annuity Option may be selected for a Variable Annuity, a Fixed Annuity, or a combination of both. We may also agree to other settlement options, at our discretion.

Annuity Option A - Life Annuity

We provide monthly payments during the lifetime of the Annuitant. Annuity payments stop when the Annuitant dies. There is no provision for continuation of any payments to a Beneficiary. Note that if the Annuitant dies prior to the end of the first month after the Annuity Commencement Date, only one annuity payment will be made.

Annuity Option B - Life Annuity with 60, 120, 180 or 240 Monthly Payments Certain

We make monthly payments during the lifetime of the Annuitant. In addition, we guarantee that the Beneficiary will receive monthly payments for the remainder of the period certain, if the Annuitant dies during that period, subject to any conditions imposed by Federal Tax Laws. The election of a longer period results in smaller monthly payments. If

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no Beneficiary is designated, we pay the discounted value of the remaining payments in one sum to the Annuitant’s estate. The Beneficiary may also elect to receive the discounted value of the remaining payments in one sum. The discount rate for a Variable Annuity will be the assumed interest rate of 3%; the discount rate for a Fixed Annuity will be based on the interest rate we used to determine the amount of each payment.

If your Contract is a Qualified Contract, in general, the Beneficiary must take any remaining payments over a period that does not extend beyond December 31^st of the tenth year after your death. If, on the date of your death, the Beneficiary is your spouse, or is not more than ten years younger than you or is “disabled” or “chronically ill” as either of those terms is defined under Federal Tax Laws, this restriction does not apply and the Beneficiary may receive monthly payments for the remainder of the period certain, regardless of its duration. If the Beneficiary is your child and under the age of majority on the date of your death, the Beneficiary may take any remaining payments over a period that does not extend beyond December 31^st of the tenth year after the Beneficiary attains the age of majority.

Annuity Option C - Joint and Survivor Annuity

We make monthly payments during the lifetime of the Annuitant and another person you designate and during the lifetime of the survivor of the two. We stop making payments when the last survivor dies. There is no provision for continuance of any payments to a Beneficiary.

If your Contract is a Qualified Contract, this Annuity Option is available only if the Annuitant and the other designated person are spouses.

Annuity Option D - Monthly Payments for a Specified Period Certain

We make monthly payments for a specified period of time from 5 to 30 years, as you elect. The longer the period you elect, the smaller your monthly payments will be. If payments under this option are paid on a variable annuity basis, the Annuitant may elect to receive, in one sum, at any time, some or all of the discounted value of the remaining payments, less any applicable withdrawal charge; the discount rate for this purpose will be the assumed interest rate of 3%. If the Annuitant dies during the period selected, the remaining income payments are made as described above for the payments to a Beneficiary under Annuity Option B, subject to any conditions imposed by Federal Tax Laws. The election of this Annuity Option may result in the imposition of a penalty tax. The 5, 6, 7, 8, and 9-year period certain options are not available during your first seven Account Years unless (a) you or your Beneficiary are selecting this Annuity Option to be used as the method of payment for the death benefit and (b) your Beneficiary’s life expectancy on the date of the first payment exceeds the selected period.

If your Contract is a Qualified Contract, in general, payments cannot extend beyond December 31^st of the tenth year after your death. If, on the date of your death, the Beneficiary is your spouse, or is not more than ten years younger than you or is “disabled” or “chronically ill” as either of those terms is defined under Federal Tax Laws, this restriction does not apply and the Beneficiary may receive monthly payments for the remainder of the period certain, regardless of its duration. If the Beneficiary is your child and under the age of majority on the date of your death, the Beneficiary may take monthly payments over a period that does not extend beyond December 31^st of the tenth year after the Beneficiary attains the age of majority.

Selection of Annuity Option

You select one or more of the Annuity Options, which you may change during the Accumulation Phase, as long as we receive your selection or change in writing at least 30 days before the Annuity Commencement Date. If we have not received your written selection on the 30th day before the Annuity Commencement Date, you will receive Annuity Option B, for a life annuity with 120 monthly payments certain, except as otherwise provided under your applicable living benefit.

You must specify the proportion of your Adjusted Account Value you wish to provide a Variable Annuity or a Fixed Annuity. Under a Variable Annuity, the dollar amount of payments will vary, while under a Fixed Annuity, the dollar amount of payments will remain the same. You may allocate your Adjusted Account Value applied to a Variable Annuity among the Sub-Accounts, or we will use your existing allocations. If, however, a portion of your Account

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Value was allocated to a Guarantee Period at the time of annuitization, that portion will be exchanged for Annuity Units and allocated among the Sub-Accounts you select at annuitization or, if you make no such selection, then in proportion to the Sub-Accounts you were invested in prior to annuitization.

There may be additional limitations on the options you may elect under your particular retirement plan or applicable law.

Remember that the Annuity Option may not be changed once annuity payments begin, unless a change is required under Federal Tax Laws.

Amount of Annuity Payments

Adjusted Account Value

The Adjusted Account Value is the amount we apply to provide a Variable Annuity and/or a Fixed Annuity. We calculate Adjusted Account Value by taking your Account Value on the Business Day just before the Annuity Commencement Date and making the following adjustments:

• We deduct a proportional amount of the Account Fee, based on the fraction of the current Account Year that has elapsed.

• If applicable, we apply the Market Value Adjustment to your Account Value in the Fixed Account, which may result in an addition or no change.

• We deduct any applicable premium tax or similar tax if not previously deducted.

Variable Annuity Payments

On the Annuity Commencement Date, we will exchange your Account’s Variable Accumulation Units for Annuity Units upon which we will assess annual insurance charges of 1.70% of your average daily Annuity Unit values. Variable Annuity payments may vary each month. We determine the dollar amount of the first payment using the portion of your Adjusted Account Value applied to a Variable Annuity and the “annuity payment rates” in your Contract, which are based on an assumed interest rate of 3% per year, compounded annually. (See “Annuity Payment Rates.”)

To calculate the remaining payments, we convert the amount of the first payment into Annuity Units for each Sub-Account; we determine the number of those Annuity Units by dividing the portion of the first payment attributable to the Sub-Account by the Annuity Unit value of that Sub-Account for the Valuation Period ending just before the Annuity Commencement Date. This number of Annuity Units for each Sub-Account will remain constant (unless the Annuitant requests a transfer among Sub-Accounts). However, the dollar amount of the next Variable Annuity payment, which is the sum of the number of Annuity Units for each Sub-Account times its Annuity Unit value for the Valuation Period ending just before the date of the payment, will increase, decrease, or remain the same, depending on the net investment return of the Sub-Accounts.

If the net investment return of the Sub-Accounts selected is the same as the assumed interest rate of 3%, compounded annually, the payments will remain level. If the net investment return exceeds the assumed interest rate, payments will increase and, conversely, if it is less than the assumed interest rate, payments will decrease.

Please refer to the Statement of Additional Information for more information about calculating Variable Annuity Units and Variable Annuity payments, including examples of these calculations.

After you annuitize, we will deduct total insurance charges at an annual rate of 1.70% of your average daily Annuity Unit values. We will no longer deduct the mortality and expense risk charge or the charges for any optional living benefit or optional death benefit. The 1.70% charge, which includes an administrative expense charge and a distribution fee, compensates us for the risks and expenses associated with providing annuity payments during the Income Phase.

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Fixed Annuity Payments

Fixed Annuity payments are the same each month. We determine the dollar amount of each Fixed Annuity payment using the fixed portion of your Adjusted Account Value and the applicable “annuity payment rates.” These will be either (1) the rates in your Contract, or (2) new rates we have published and are using on the Annuity Commencement Date, if they are more favorable. (See “Annuity Payment Rates.”)

Minimum Payments

If your Adjusted Account Value is less than $2,000, or the first annuity payment for any Annuity Option is less than $20, we will pay the Adjusted Account Value to the Annuitant in one payment, except as otherwise provided under your applicable living benefit.

Transfer of Variable Annuity Units

During the Income Phase, the Annuitant may transfer Annuity Units in one Sub-Account for Annuity Units in another Sub-Account, up to 12 times each Account Year. Any such transfers may be subject to any restrictions or other policies that the Funds have adopted to protect the Funds from short-term trading or other practices that are potentially harmful to the Fund (the “Funds’ Trading Policies”). The applicability of the Funds’ Trading Policies is the same during the Income Phase as during the Accumulation Phase, and this is discussed in this Prospectus under “Funds’ Trading Policies.” For the reasons discussed there, you should review and comply with each Fund’s Trading Policies, which are generally disclosed in the Funds’ current prospectuses.

During the Income Phase, the Annuitant, the authorized representative of the broker-dealer of record, or another authorized third party may request transfers by telephone, or in writing by submitting the request to our Service Address, stating the number of Annuity Units in the Sub-Account he or she wishes to transfer and the new Sub-Account for which Annuity Units are requested. The number of new Annuity Units will be calculated so the dollar amount of an annuity payment on the date of the transfer would not be affected. To calculate this number, we use Annuity Unit values for the Valuation Period during which we receive the transfer request.

Before transferring Annuity Units in one Sub-Account for those in another, the Annuitant should carefully review the relevant Fund prospectuses for the investment objectives and risk disclosure of the Funds in which the Sub-Accounts invest.

During the Income Phase, we permit only transfers among Sub-Accounts. No transfers to or from a Fixed Annuity are permitted.

Account Fee

During the Income Phase, we deduct the annual Account fee of $50 in equal amounts from each Variable Annuity payment. We do not deduct the annual Account fee from Fixed Annuity payments.

Annuity Payment Rates

Annuity payment rates are the rates we use to determine the dollar amount of an annuity payment under each Annuity Option. The Contract contains annuity payment rate schedules for each Annuity Option described in this Prospectus. These schedules show, for each $1,000 applied, the dollar amount of: (a) the first monthly Variable Annuity payment based on the assumed interest rate specified in the applicable Contract (3% per year, compounded annually); and (b) the monthly Fixed Annuity payment, when this payment is based on the minimum guaranteed interest rate specified in the Contract. We may change these rates under Group Contracts for Accounts established after the effective date of such change. (See “Modification.”)

The annuity payment rates may vary according to the Annuity Option elected and the adjusted age of the Annuitant. The Contracts also describe the method of determining the adjusted age of the Annuitant. The mortality table used in determining the annuity payment rates for Annuity Options A, B and C is the Annuity 2000 Table.

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Annuity Options as Method of Payment for Death Benefit

You or your Beneficiary may also select one or more Annuity Options to be used in the event of the Covered Person’s death before the Income Phase, as described under the “Death Benefit” section of this Prospectus. In that case, your Beneficiary will be the Annuitant. The Annuity Commencement Date will be the first day of the second month beginning after the Death Benefit Date.

OTHER CONTRACT PROVISIONS

Exercise of Contract Rights

An Individual Contract belongs to the individual to whom the Contract is issued. A Group Contract belongs to the Owner. In the case of a Group Contract, the Owner may expressly reserve all Contract rights and privileges; otherwise, each Participant will be entitled to exercise such rights and privileges. In any case, such rights and privileges can be exercised without the consent of the Beneficiary (other than an irrevocably designated Beneficiary) or any other person. Such rights and privileges may be exercised only before the Annuity Commencement Date, except as the Contract otherwise provides.

The Annuitant becomes the Payee on and after the Annuity Commencement Date. The Beneficiary becomes the Payee on the death of the Covered Person prior to the Annuity Commencement Date, or on the death of the Annuitant after the Annuity Commencement Date. Such Payee may thereafter exercise such rights and privileges, if any, of ownership which continue.

Change of Ownership

Ownership of a Qualified Contract may not be transferred except to: (1) the Annuitant; (2) a trustee or successor trustee of a pension or profit sharing trust which is qualified under Section 401 of the Internal Revenue Code; (3) the employer of the Annuitant, provided that the Qualified Contract after transfer is maintained under the terms of a retirement plan qualified under Section 403(a) of the Internal Revenue Code for the benefit of the Annuitant; (4) the trustee or custodian of an individual retirement account plan qualified under Section 408 of the Internal Revenue Code for the benefit of the Participants under a Group Contract; or (5) as otherwise permitted from time to time by laws and regulations governing the retirement or deferred compensation plans for which a Qualified Contract may be issued. Subject to the foregoing, a Qualified Contract may not be sold, assigned, transferred, discounted or pledged as collateral for a loan or as security for the performance of an obligation or for any other purpose to any person other than the Company.

The Owner of a Non-Qualified Contract may change the ownership of the Contract prior to the Annuity Commencement Date; and each Participant, in like manner, may change the ownership interest in a Contract. A change of ownership will not be binding on us until we receive written notification, in Good Order. When we receive such notification, the change will be effective as of the date on which the request for change was signed by the Owner or Participant, as appropriate, but the change will be without prejudice to us on account of any payment we make or any action we take before receiving the change. If you change the Owner of a Non-Qualified Contract without full and adequate consideration, you will become immediately liable for the payment of taxes on any gain realized under the Contract prior to the change of ownership, including possible liability for a 10% federal excise tax.

Change of ownership will not change the Covered Person named when the Contract is issued. This means that all death benefits and surrender charge waivers will continue to be based on the Covered Person and not the Participant. The amount payable on the death of the new Participant will be the Surrender Value.

Voting of Fund Shares

To the extent required by law, we will vote all shares held in the Variable Account in accordance with instructions we receive from persons with voting interests in the Funds. During the Accumulation Phase, you will have the right to give voting instructions, except in the case of a Group Contract in which the Owner has reserved this right. During the Income Phase, the Payee (that is, the Annuitant or Beneficiary entitled to receive benefits) is the person having the right to give voting instructions.

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Before a vote of the shareholders of a Fund occurs, each person with voting interests in the Fund will receive voting materials from us. We will ask those persons to instruct us on how to vote and to return their respective voting instructions to us in a timely manner. Each such person is permitted to cast votes based on the dollar value of the shares of each Fund that we hold for your Contract in the corresponding Sub-Account. We calculate this value based on the number of Variable Accumulation Units or Variable Annuity Units allocated to your Contract as of the date set by the Fund and the value of each Variable Accumulation Unit or Variable Annuity Unit on that date. We count fractional votes.

We will vote any shares attributable to us and Fund shares for which no timely voting instructions are received in the same proportion as the shares for which we receive instructions from person(s) with voting interests in the Fund. Because of this method of proportional voting, a small number of persons with voting interests in the Fund may determine the outcome of a shareholder vote. If, however, we determine that we are permitted to vote the Fund shares in our own right, then we may do so.

Note: Owners of Qualified Contracts issued on a group basis may be subject to other voting provisions of the particular retirement plan and under the Investment Company Act of 1940. Employees who contribute to retirement plans that are funded by the Contracts may be entitled to instruct the Owners as to how to instruct us to vote the Fund shares attributable to their contributions. Such retirement plans may also provide the additional extent, if any, to which an Owner shall follow voting instructions of persons with rights under those plans. If no voting instructions are received from any such person with respect to a particular Contract, the Owner may instruct us as to how to vote the number of Fund shares for which instructions may be given.

Reports to Owners

We will send you, by regular U.S. mail, confirmation of all Purchase Payments (including any interest credited), withdrawals, (including any withdrawal charges and federal taxes on withdrawals), minimum distributions, death benefit payments, transfers (excluding dollar-cost averaging transfers) and living benefit credits or refunds. Such confirmations will be sent within two business days after the transaction occurs.

In addition, within five business days after each calendar quarter, we will send you, by regular U.S. mail, a statement showing your current Account Value, death benefit value, and investment allocation by asset class. Each quarterly statement will detail transactions that occurred during the last calendar quarter including Purchase Payments, annuity payments, transfers (including dollar-cost averaging transfers), partial withdrawals, systematic withdrawals, minimum distributions, portfolio rebalancing, asset reallocations, step-ups credited on living benefits, and annual contract fees assessed.

We will also send you annual and semi-annual reports of the Funds in which you are invested, including a list of investments held by each portfolio as of the current date of the report.

If you have enrolled in the electronic delivery service and consented to receive documents electronically, we will send you an email at the address you provided notifying you when we have posted your confirmations, statements, and reports on our website.

It is your obligation to review each such statement carefully and to report to us, at the address or telephone number provided on the statement, any errors or discrepancies in the information presented therein within 60 days of the date of such statement. Unless we receive notice of any such error or discrepancy from you within such period, we may not be responsible for correcting the error or discrepancy.

Substitution of Securities

Shares of any or all Funds may not always be available for investment under the Contract. We may add or delete Funds or other investment companies as variable investment options under the Contract. We may also substitute for the shares held in any Sub-Account shares of another Fund or shares of another registered open-end investment company or unit investment trust, provided that the substitution has been approved, if required, by the SEC. You will receive notice of any such Fund changes that affect your Contract by a supplement to this Prospectus.

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Change in Operation of Variable Account

At our election and subject to any necessary vote by persons having the right to give instructions with respect to the voting of Fund shares held by the Sub-Accounts, the Variable Account may be operated as a management company under the Investment Company Act of 1940 or it may be deregistered under the Investment Company Act of 1940 in the event registration is no longer required. Deregistration of the Variable Account requires an order by the SEC. In the event of any change in the operation of the Variable Account pursuant to this provision, we may supplement this Prospectus to reflect the change and take such other action as may be necessary and appropriate to effect the change.

Splitting Units

We reserve the right to split or combine the value of Variable Accumulation Units, Annuity Units or any of them. In effecting any such change of unit values, strict equity will be preserved and no change will have a material effect on the benefits or other provisions of the Contract. Any changes we make by splitting or combining Variable Accumulation Unit values must comply with federal securities laws and regulations.

Modification

Upon notice to the Participant, in the case of an Individual Contract, and the Owner and Participant(s), in the case of a Group Contract (or the Payee(s) during the Income Phase), we may modify the Contract if such modification is consistent with federal securities laws and regulations and: (1) is necessary to make the Contract or the Variable Account comply with any law or regulation issued by a governmental agency to which the Company or the Variable Account is subject; (2) is necessary to assure continued qualification of the Contract under the Internal Revenue Code or other federal or state laws relating to retirement annuities or annuity contracts; (3) is necessary to reflect a change in the operation of the Variable Account or the Sub-Account(s) (see “Change in Operation of Variable Account”); (4) provides additional Variable Account and/or fixed accumulation options; or (5) as may otherwise be in the best interests of Owners, Participants, or Payees, as applicable. In the event of any such modification, we may supplement this Prospectus to reflect such modification.

In addition, upon notice to the Owner, we may modify a Group Contract to change the withdrawal charges, Account Fee, mortality and expense risk charges, administrative expense charges, the tables used in determining the amount of the first monthly variable annuity and fixed annuity payments and the formula used to calculate the Market Value Adjustment, provided that such modification applies only to Participant Accounts established after the effective date of such modification. In order to exercise our modification rights in these particular instances, we must notify the Owner of such modification in writing. The notice shall specify the effective date of such modification which must be at least 60 days following the date we mail notice of modification. All of the charges and the annuity tables which are provided in the Group Contract prior to any such modification will remain in effect permanently, unless improved by the Company, with respect to Participant Accounts established prior to the effective date of such modification.

Discontinuance of New Participants

We may limit or discontinue the acceptance of new Applications and the issuance of new Certificates under a Group Contract by giving 30 days prior written notice to the Owner. This will not affect rights or benefits with respect to any Participant Accounts established under such Group Contract prior to the effective date of such limitation or discontinuance.

Reservation of Rights

We reserve the right, to the extent permitted by law, to: (1) combine any two or more variable accounts or Sub-Accounts; (2) add or delete Funds, sub-series thereof or other investment companies and corresponding Sub-Accounts; (3) add or remove Guarantee Periods available at any time for election by a Participant; and (4) restrict or eliminate any of the voting rights of Participants (or Owners) or other persons who have voting rights as to the Variable Account. Where required by law, we will obtain approval of changes from Participants or any appropriate regulatory authority. In the event of any change pursuant to this provision, we may supplement this Prospectus and make appropriate endorsement to the Contract as necessary to reflect the change.

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Right to Return

If you are not satisfied with your Contract, you may return it by mailing or delivering it to us at our Service Address, within 10 days or longer if allowed by your state, after it was delivered to you. State law may also allow you to return the Contract to your sales representative. (Information about your right to return period can be found on the first page of your Contract or prominently displayed in an endorsement to your Contract. You can also obtain information about your right to return period by contacting your sales representative.) When we receive the returned Contract, it will be cancelled and we will refund to you your Account Value less the adjusted Purchase Payment Interest. The adjusted Purchase Payment Interest that may be deducted is equal to the lesser of:

• the portion of the Account Value that is attributable to any Purchase Payment Interest, and

• all Purchase Payment Interest.

This means you receive any gain on Purchase Payment Interest and we bear any loss. If applicable state law requires return of Purchase Payments, we will return the greater of (1) your Surrender Value or (2) the full amount of any Purchase Payment(s) we received.

If you are establishing an Individual Retirement Annuity (“IRA”), the Internal Revenue Code requires that we give you a disclosure statement containing certain information about the Contract and applicable legal requirements. We must give you this statement on or before the date the IRA is established. If we give you the disclosure statement before the seventh day preceding the date the IRA is established, you will not have any right of revocation under the Code. If we give you the disclosure statement at a later date, then you may give us a notice of revocation at any time within seven days after your Issue Date. Upon such revocation, we will refund your Purchase Payment(s). This right of revocation with respect to an IRA is in addition to the return privilege set forth in the preceding paragraph. We allow a Participant establishing an IRA a “ten day free-look,” notwithstanding the provisions of the Internal Revenue Code.

TAX PROVISIONS

This section provides general information on the federal income tax consequences of ownership of a Contract and is not intended as tax advice. Actual federal tax consequences will vary depending on, among other things, the type of retirement plan under which your Contract is issued. Also, legislation altering the current tax treatment of annuity contracts could be enacted in the future and could apply retroactively to Contracts that were purchased before the date of enactment. We make no attempt to consider any applicable state or other income tax laws, any state and local estate or inheritance tax, or other tax consequences of ownership or receipt of distributions under a Contract. We also make no guarantee regarding the federal, state, or local tax status of any Contract or any transaction involving any Contract. You should consult a qualified tax professional for advice before purchasing a Contract or executing any other transaction (such as a rollover, distribution, withdrawal or payment) involving a Contract.

When you invest in an annuity contract, you usually do not pay taxes on your investment gains until you withdraw the money - generally for retirement purposes. If you invest in a variable annuity as part of an individual retirement plan, pension plan or employer-sponsored retirement program, your Contract is called a “Qualified Contract.” If your annuity is independent of any formal retirement or pension plan, it is termed a “Non-Qualified Contract.” The tax rules applicable to Qualified Contracts vary according to the type of retirement plan and the terms and conditions of the plan.

U.S. Federal Income Tax Provisions

The following discussion applies only to those Contracts issued in the United States. For a discussion of tax provisions affecting Contracts issued in Puerto Rico, see “Puerto Rico Tax Provisions.”

Taxation of Non-Qualified Contracts

Deductibility of Purchase Payments. For federal income tax purposes, Purchase Payments made under Non-Qualified Contracts are not deductible. Under certain circumstances, Purchase Payments made under Qualified Contracts may be excludible or deductible from taxable income. Any such amounts will also be excluded from the “investment in the

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contract” for purposes of determining the taxable portion of any distributions from a Qualified Contract. As a general rule, regardless of whether you own a Qualified or a Non-Qualified Contract, the amount of your tax liability on earnings and distributions will depend upon the specific tax rules applicable to your Contract and your particular circumstances.

Pre-Distribution Taxation of Contracts. Generally, an increase in the value of a Contract will not give rise to a current income tax liability to the Owner of a Contract or to any Payee under the Contract until a distribution is received from the Contract. However, certain assignments or pledges of a Contract will be treated as distributions to the Owner of the Contract and will accelerate the taxability of any increases in the value of a Contract.

Also, corporate (or other non-natural person) Owners of a Non-Qualified Contract will generally incur a current tax liability on Account Value increases. There are certain exceptions to this current taxation rule, including: (i) any Contract that is an “immediate annuity”, which the Internal Revenue Code (the “Code”) defines as a single premium contract with an annuity commencement date within one year of the date of purchase which provides for a series of substantially equal periodic payments (to be made not less frequently than annually) during the annuity period, and (ii) any Contract that the non-natural person holds as agent for a natural person (such as where a bank or other entity holds a Contract as trustee under a trust agreement).

You should note that a qualified retirement plan generally provides tax deferral regardless of whether the plan invests in an annuity contract. For that reason, no decision to purchase an annuity should be based on the assumption that the purchase of an annuity is necessary to obtain tax deferral under a qualified plan.

Distributions and Withdrawals from Non-Qualified Contracts. The Account Value of a Non-Qualified Contract will generally include both (i) an amount attributable to Purchase Payments, the return of which will not be taxable, and (ii) an amount attributable to investment earnings, the receipt of which will be taxable at ordinary income rates. The relative portions of any particular distribution that derive from nontaxable Purchase Payments and taxable investment earnings depend upon the nature and the timing of that distribution.

Any withdrawal of less than your entire Account Value under a Non-Qualified Contract before the Annuity Commencement Date must be treated as a receipt of investment earnings to the extent the Account Value immediately prior to the withdrawal exceeds the “investment in the contract”. You may not treat such withdrawals as a non-taxable return of Purchase Payments unless you have first withdrawn the entire amount of the Account Value that is attributable to investment earnings. For purposes of determining whether an Owner has withdrawn the entire amount of the investment earnings under a Non-Qualified Contract, the Code provides that all Non-Qualified deferred annuity contracts issued by the same company to the same Owner during any one calendar year must be treated as one annuity contract. If you withdraw your entire Account Value under a Non-Qualified Contract before the Annuity Commencement Date (a “full surrender”), the taxable portion will equal the amount you receive less the “investment in the contract” (i.e., the total Purchase Payments (excluding amounts that were deductible by, or excluded from the gross income of, the Owner of a Contract), less any Purchase Payments that were amounts previously received which were not includable in income).

Annuity Payments. A Payee who receives annuity payments under a Non-Qualified Contract after the Annuity Commencement Date, will generally be able to treat a portion of each payment as a nontaxable return of Purchase Payments and to treat only the remainder of each such payment as taxable investment earnings. Until the Purchase Payments have been fully recovered in this manner, the nontaxable portion of each payment will be determined by the ratio of (i) the total amount of the Purchase Payments made under the Contract, to (ii) the Payee’s expected return under the Contract. Once the Payee has received nontaxable payments in an amount equal to total Purchase Payments, no further exclusion is allowed and all future distributions will constitute fully taxable ordinary income. If payments are terminated upon the death of the Annuitant or other Payee before the Purchase Payments have been fully recovered, the unrecovered Purchase Payments may be deducted on the final return of the Annuitant or other Payee.

Penalty Tax on Certain Withdrawals. A penalty tax of 10% may also apply to taxable cash withdrawals, including lump-sum payments from Non-Qualified Contracts. This penalty will generally not apply to distributions made after age 59¹⁄₂, to distributions pursuant to the death or disability of the owner, to distributions that are a part of a series of

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substantially equal periodic payments made not less frequently than annually for life or life expectancy, or to distributions under an immediate annuity (as defined above). Other exceptions may be applicable under certain circumstances and special rules may be applicable in connection with the exceptions enumerated above. Also, additional exceptions apply to distributions from a Qualified Contract. You should consult a qualified tax professional with regard to exceptions from the penalty tax.

Taxation of Death Benefit Proceeds. Generally, death benefits paid upon the death of a Participant are not life insurance benefits and will generally be includable in the income of the recipient to the extent they represent investment earnings under the contract. For this purpose, the amount of the investment in the Contract is not affected by the Participant’s or Annuitant’s death, i.e., the investment in the Contract must still be determined by reference to the Participant’s investment in the Contract. Special mandatory distribution rules also apply after the death of the Participant when the beneficiary is not the surviving spouse of the Participant.

If death benefits are distributed in a lump sum, the taxable amount of those benefits will be determined in the same manner as upon a full surrender of the Contract. If death benefits are distributed under an annuity option, the taxable amount of those benefits will be determined in the same manner as annuity payments, as described above.

For a Non-Qualified Contract to be treated as an annuity contract for federal income tax purposes, the terms of the Contract must provide the following three distribution rules:

(1) If the Owner dies before the date annuity payouts begin, the entire Annuity Account Value must generally be distributed within five years after the date of death;

(2) If payable to a designated Beneficiary, the distributions may be paid over the life of that designated Beneficiary or over a period not extending beyond the life expectancy of that Beneficiary, so long as payouts start within one year of the Owner’s death; and

(3) If the sole designated Beneficiary is the Owner’s Spouse, the Contract may be continued in the name of the Spouse as Owner.

Transfers, Assignments or Exchanges of a Contract. A transfer or assignment of ownership of a Contract, the designation of an Annuitant other than the Owner, the selection of certain maturity dates, or the exchange of a Contract may result in certain tax consequences to you that are not discussed herein. An Owner contemplating any such transfer, assignment or exchange should consult a qualified tax professional as to the tax consequences.

Section 1035 of the Code provides that no gain or loss will be recognized on the exchange of one annuity contract for another. Generally, an annuity contract issued in an exchange for another annuity contract is treated as new for purposes of the penalty and distribution at death rules.

In Revenue Procedure 2011-38, the IRS set forth the rules as to when a partial transfer between annuity contracts will be treated as a tax-free exchange under Section 1035 of the Code. Under Rev. Proc. 2011-38:

The period of time in which cash cannot be withdrawn from either contract after a partial transfer is 180 days beginning on the date of the transfer; and

Annuity payments that satisfy the partial annuitization rule of IRC Section 72(a)(2) will not be treated as a distribution from either the old or new contract.

Please discuss the tax consequences of any contemplated or completed transactions with a qualified tax professional.

Withholding. Annuity distributions are generally subject to withholding for the recipient’s federal income tax liability. Recipients can generally elect, however, not to have tax withheld from distributions.

Multiple Contracts. All non-qualified deferred annuity contracts that are issued by us (or our affiliates) to the same owner during any calendar year are treated as one annuity contract for purposes of determining the amount includible in such owner’s income when a taxable distribution occurs.

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Partial Annuitization. Under a new tax provision enacted in 2010, if part of an annuity contract’s value is applied to an annuity option that provides payments for one or more lives or for a period of at least ten years, those payments may be taxed as annuity payments instead of withdrawals. None of the payment options under the Contract is intended to qualify for this “partial annuitization” treatment.

Taxation of Qualified Contracts

“Qualified Contracts” are Contracts used with plans that receive tax-deferral treatment pursuant to specific provisions of the Code. Annuity contracts also receive tax-deferral treatment. It is not necessary that you purchase an annuity contract to receive the tax-deferral treatment available through a Qualified Contract. If you purchase this annuity Contract as a Qualified Contract, you do not receive additional tax-deferral. Therefore, if you purchase this annuity Contract as a Qualified Contract, you should do so for reasons other than obtaining tax deferral.

You may use Qualified Contracts with several types of qualified retirement plans. Because tax consequences will vary with the type of qualified retirement plan and the plan’s specific terms and conditions, we provide below only brief, general descriptions of the consequences that follow from using Qualified Contracts in connection with various types of qualified retirement plans. We stress that the rights of any person to any benefits under these plans may be subject to the terms and conditions of the plans themselves, regardless of the terms of the Qualified Contracts that you are using. These terms and conditions may include restrictions on, among other things, ownership, transferability, assignability, contributions and distributions. Adverse tax consequences may result if you do not ensure that contributions, distributions and other transactions with respect to the Contract comply with the law.

Beginning on January 1, 2020, an exception to the 10 percent early withdrawal tax penalty applies to distributions from IRAs and other applicable eligible retirement plans (as defined under Federal Tax Laws) for the birth or adoption of a child. The maximum amount of such distribution for any individual is $5,000. The distribution must be made during the one-year period beginning on the date on which a child of the individual is born or on which the legal adoption by the individual of an eligible adoptee is finalized. In addition, such distributions, if recontributed to the eligible retirement plan will be treated as a rollover and thus not includible in income, subject to certain requirements. You will be required to represent to us in writing that you meet the requirements for this exception.

Pension and Profit-Sharing Plans. Sections 401(a), 401(k) and 403(a) of the Code permit business employers and certain associations to establish various types of retirement plans for employees. The Code requirements are similar for qualified retirement plans of corporations and those of self- employed individuals. Self-employed persons, as a general rule, may therefore use Qualified Contracts as a funding vehicle for their retirement plans. Adverse tax consequences to the retirement plan, the participant or both may result if the Contract is transferred to any individual as a means to provide benefit payments, unless the plan complies with all the requirements applicable to such benefits prior to transferring the Contract.

Tax-Sheltered Annuities. Section 403(b) of the Code permits public school employees and employees of certain types of charitable, educational and scientific organizations specified in Section 501(c)(3) of the Code to purchase annuity contracts and, subject to certain limitations, exclude the amount of purchase payments from gross income for tax purposes. The Code imposes restrictions on cash withdrawals from Section 403(b) annuities (“TSA”).

Effective October 1, 2008, we stopped issuing any new TSAs, including Texas Optional Retirement Program annuities. We no longer accept any additional Purchase Payments to any previously issued TSAs.

The Internal Revenue Service’s (“IRS”) comprehensive TSA regulations are generally effective January 1, 2009, and these regulations, subsequent IRS guidance, and/or the terms of an employer’s TSA plan impose new restrictions on TSAs, including restrictions on (1) the availability of hardship distributions and loans, (2) TSA exchanges within the same employer’s TSA plan, and (3) TSA transfers to another employer’s TSA plan. You should consult with a qualified tax professional about how the regulations affect you and your TSA.

If TSAs are to receive tax-deferred treatment, cash withdrawals of amounts attributable to salary reduction contributions (other than withdrawals of accumulation account value as of December 31, 1988) may be made only

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when you attain age 59¹⁄₂, have a severance from employment with the employer, die or become disabled (within the meaning of Section 72(m)(7) of the Code). These restrictions apply to (i) any post-1988 salary reduction contributions, (ii) any growth or interest on post-1988 salary reduction contributions, (iii) any growth or interest on pre-1989 salary reduction contributions that occurs on or after January 1, 1989, and (iv) any pre-1989 salary reduction contributions since we do not maintain records that separately account for such contributions. It is permissible, however, to withdraw post-1988 salary reduction contributions (but not the earnings attributable to such contributions) in cases of financial hardship. Financial hardship withdrawals (as well as certain other premature withdrawals) are fully taxable and will be subject to a 10% federal income tax penalty, in addition to any applicable Contract withdrawal charge. Under certain circumstances the 10% federal income tax penalty will not apply if the withdrawal is for medical expenses. A financial hardship withdrawal may not be repaid once it is taken.

The IRS’s TSA regulations provide that TSA financial hardship withdrawals will be subject to the IRS rules applicable to hardship distributions from 401(k) plans. Specifically, if you have not terminated your employment or reached age 59¹⁄₂, you may be able to withdraw a limited amount of monies if you have an immediate and heavy financial need and the withdrawal amount is necessary to satisfy such financial need. An immediate and heavy financial need may arise only from:

• deductible medical expenses incurred by you, your spouse, or your dependents;

• payments of tuition and related educational fees for the next 12 months of post-secondary education for you, your spouse, or your dependents;

• costs related to the purchase of your principal residence (not including mortgage payments);

• payment necessary to prevent eviction from your principal residence or foreclosure of the mortgage on your principal residence;

• payments for burial or funeral expenses for your parent, spouse, children, or dependents; or

• expenses for the repair of damage to your principal residence that would qualify for the federal income tax casualty deduction.

You will be required to represent in writing to us (1) that your specified immediate and heavy financial need cannot reasonably be relieved through insurance or otherwise, by liquidation of your assets, by ending any contributions you are making under your TSA plan, by other distributions and nontaxable loans under any of your qualified plans, or by borrowing from commercial sources and (2) that your requested withdrawal amount complies with applicable law, including the federal tax law limit. And, unless your TSA was issued prior to September 25, 2007 and the only payments you made to such TSA were TSA funds you transferred directly to us from another TSA carrier (a “90-24 Transfer TSA”), your TSA employer also may need to agree in writing to your hardship request.

Your TSA may contain a provision that permits loans; however, the Contract does not, and loans are therefore not available.

TSAs, like IRAs and qualified plans, are subject to required minimum distributions under the Code. TSAs are unique, however, in that any account balance accruing before January 1, 1987 (the “pre-1987 balance”) needs to comply with only the minimum distribution incidental benefit (MDIB) rule and not also with the minimum distribution rules set forth in Section 401(a)(9) of the Code. This special treatment for any pre-1987 balance is, however, conditioned upon the issuer identifying the pre-1987 balance and maintaining accurate records of changes to the balance. Since we do not maintain such records, your pre-1987 balance, if any, will not be eligible for special distribution treatment.

If you were born before July 1, 1949, your required beginning date is April 1 of the calendar year following the calendar year in which you reach age 70 ½. If you were born on or after July 1, 1949, your required beginning date is April 1 of the calendar year following the calendar year in which you reach age 72. For that year, and each succeeding year, a distribution must be made on or before December 31.

Under the terms of a particular TSA plan, you may be entitled to transfer or exchange all or a portion of your TSA to one or more alternative funding options within the same or different TSA plan. You should consult the documents

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governing your TSA plan and your plan administrator for information as to such investment alternatives. If you wish to transfer/exchange your TSA, you will be able to do so only if the issuer of the new TSA certifies to us that the transfer/exchange is permissible under the TSA regulations and the applicable TSA plan. Your TSA employer also may need to agree in writing to your transfer/exchange request.

Individual Retirement Accounts and Annuities. Individual Retirement Accounts and Annuities (“IRAs”), as defined in Section 408 of the Code, permit eligible individuals to make annual contributions of up to the lesser of a specified dollar amount for the year or the amount of compensation includible in the individual’s gross income for the year. The contributions may be deductible in whole or in part, depending on the individual’s income. In addition, certain distributions from some other types of retirement plans may be “rolled over” into an IRA on a tax-deferred basis without regard to these limits. Amounts in the IRA (other than nondeductible contributions) are taxed when distributed from the IRA. A 10% penalty tax generally applies to distributions made before age 59¹⁄₂, unless an exception applies. The Internal Revenue Service imposes special information requirements with respect to IRAs and we will provide purchasers of the Contracts as Individual Retirement Annuities with any necessary information. You will have the right to revoke a Contract issued as an Individual Retirement Annuity under certain circumstances, as described in the section of this Prospectus entitled “Right to Return.” If your Contract is issued in connection with an Individual Retirement Account, we have no information about the Account and you should contact the Account’s trustee or custodian.

The Coronavirus Aid, Relief and Economic Security (“CARES”) Act. The CARES Act waives the required minimum distribution rules for calendar year 2020 for (1) plans (including 401(k) plans) qualified under Code Section 401, (2) defined contribution plans described in Code Sections 403(a) and 403(b), (3) eligible governmental defined contribution plans described in Code Section 457(b) and (4) Individual Retirement Accounts and Individual Retirement Annuities described in Code Section 408. In addition, distributions which are required to be made in calendar year 2020 by reason of a required beginning date occurring in such calendar year and such distribution not having been made before January 1, 2020 are also waived.

Roth Individual Retirement Arrangements. Section 408A of the Code permits certain eligible individuals to contribute to an individual retirement program called a Roth IRA. Unlike contributions to a traditional IRA under Section 408 of the Code, contributions to a Roth IRA are not tax-deductible. Provided certain conditions are satisfied, distributions are generally tax-free. Like traditional IRAs, Roth IRAs are subject to limitations on contribution amounts and the timing of distributions. If you roll over from or convert a traditional IRA Contract into a Roth IRA Contract or your Individual Retirement Account that holds a Contract is converted to a Roth Individual Retirement Account, the fair market value of the Contract is included in taxable income. Under IRS regulations and Revenue Procedure 2006-13, fair market value may exceed the Contract’s account balance. Thus, you should consult with a qualified tax professional prior to any conversion. Distributions from a Roth IRA are generally not taxed, except that once aggregate distributions exceed contributions to the Roth IRA, income tax and a 10% penalty tax may apply to distributions made (1) before age 59¹⁄₂ (subject to certain exceptions) or (2) during the five taxable years starting with the year in which the first contribution is made to any Roth IRA. A 10% penalty tax may apply to amounts attributable to a conversion from an IRA if they are distributed during the five taxable years beginning with the year in which the conversion was made.

The Internal Revenue Service imposes special information requirements with respect to Roth IRAs and we will provide the necessary information for Contracts issued as Roth Individual Retirement Annuities. If your Contract is issued in connection with a Roth Individual Retirement Account, we have no information about the Account and you should contact the Account’s trustee or custodian.

Distributions and Withdrawals from Qualified Contracts. In most cases, all of the distributions you receive from a Qualified Contract will constitute fully taxable ordinary income. Also, a 10% penalty tax will apply to distributions prior to age 59¹⁄₂, except in certain circumstances.

If you receive a distribution from a Qualified Contract used in connection with a qualified pension plan, from a tax-sheltered annuity, a governmental Code Section 457 plan or an IRA and roll over some or all of that distribution to another eligible plan, following the rules set out in the Code and IRS regulations, the portion of such distribution that is rolled over will not be includible in your income. An eligible rollover distribution from a qualified plan, tax-sheltered

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annuity or governmental Section 457 plan will be subject to 20% mandatory withholding as described below. Because the amount of the cash paid to you as an eligible rollover distribution will be reduced by this withholding, you will not be able to roll over the entire account balance under your Contract, unless you use other funds equal to the tax withholding to complete the rollover. Rollovers of IRA distributions are not subject to the 20% mandatory withholding requirement.

An eligible rollover distribution from a qualified plan, governmental Section 457 plan or tax-sheltered annuity is any distribution of all or any portion of the balance to the credit of an employee, except that the term does not include:

• a distribution which is one of a series of substantially equal periodic payments made annually under a lifetime annuity or for a specified period of ten years or more;

• any required minimum distribution; or

• any hardship distribution.

Only you or your surviving spouse Beneficiary may elect to roll over a distribution to an eligible retirement plan. However, a non-surviving-spouse Beneficiary may be able to directly transfer a distribution to a so-called inherited IRA that will be subject to the IRS distribution rules applicable to beneficiaries.

Taxation of Qualified Death Benefit Proceeds. Generally, death benefits paid upon the death of a Participant are not life insurance benefits and will generally be includable in the income of the recipient.

If the Owner died on or before December 31, 2019, and after RMD distributions have begun, the remaining portion of such interest will continue to be distributed at least as rapidly as under the method of distribution being used prior to the individual’s death.

If the Owner died on or before December 31, 2019, and before RMD distributions have begun, distribution of the individual’s entire interest must be completed by December 31 of the calendar year containing the fifth anniversary of the individual’s death unless an election is made to receive distributions in accordance with the rules set forth below:

(1) If the Owner’s interest is payable to a designated Beneficiary, then the entire interest of the individual may be distributed in equal or substantially equal payments over the life or over a period certain not greater than the life expectancy of the designated Beneficiary commencing on or before December 31 of the calendar year immediately following the calendar year in which the Owner died;

(2) If the designated Beneficiary is the Owner’s surviving spouse, the date distributions are required to begin in accordance with (1) above must not be earlier than the later of (a) December 31 of the calendar year immediately following the calendar year in which the individual died or (b) December 31 of the calendar year in which the individual would have attained age 70½;

If the Owner dies on or after the date annuity payouts start, and before the entire interest in the Contract has been distributed, payments under the Contract must continue on the same or on a more rapid schedule than that provided for in the method in effect on the date of death.

If the Owner dies after December 31, 2019, regardless of whether RMD distributions have begun, distribution of the individual’s entire interest must be completed by December 31 of the calendar year containing the tenth anniversary of the Owner’s death unless an election is made to receive distributions in accordance with the following three distribution rules:

(1) If, on the date of the Owner’s death, the Beneficiary is not more than ten years younger than the Owner or is “disabled” or “chronically ill” as either of those terms is defined under Federal Tax Laws, the death benefit may also be taken in the form of an annuity over the Beneficiary’s lifetime or life expectancy;

(2) If the Beneficiary is the Owner’s child and under the age of majority on the date of the Owner’s death, the Beneficiary may elect to defer receipt of the death benefit for any period up to December 31st of the tenth year after reaching the age of majority, or take the death benefit in the form of an annuity over a period that does not extend beyond December 31st of the tenth year after reaching the age of majority; and

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(3) If the sole Beneficiary is the Owner’s surviving spouse, the spouse may treat the Contract as his or her own Qualified Contract. This election will be deemed to have been made if such surviving spouse makes a regular Contribution to the Contract, makes a rollover to or from such Contract, or fails to elect any of the above provisions.

If the Owner dies on or after the date annuity payments start, and before the entire interest in the Contract has been distributed, the Beneficiary must take any remaining payments over a period that does not extend beyond December 31st of the tenth year after your death. If, on the date of your death, the Beneficiary is your spouse, or is not more than ten years younger than you or is “disabled” or “chronically ill” as either of those terms is defined under Federal Tax Laws, this restriction does not apply. If the Beneficiary is your child and under the age of majority on the date of your death, the Beneficiary may take any remaining payments over a period that does not extend beyond December 31st of the tenth year after the Beneficiary attains the age of majority.

Withholding. In the case of an eligible rollover distribution (as defined above) from a Qualified Contract (other than from an IRA), we (or the plan administrator) must withhold and remit to the U.S. Government 20% of the distribution, unless the Participant or Payee elects to make a direct rollover of the distribution to another qualified retirement plan that is eligible to receive the rollover; however, a Beneficiary who is not the surviving spouse may elect a direct rollover only to a so-called inherited IRA that will be subject to the IRS distribution rules applicable to beneficiaries. In the case of a distribution from (i) a Non-Qualified Contract, (ii) an IRA, or (iii) a Qualified Contract where the distribution is not an eligible rollover distribution, we will withhold and remit to the U.S. Government a part of the taxable portion of each distribution unless, prior to the distribution, the Participant or Payee provides us his or her taxpayer identification number and instructs us (in the manner prescribed) not to withhold. The Participant or Payee may credit against his or her federal income tax liability for the year of distribution any amounts that we (or the plan administrator) withhold.

Investment Diversification and Control

The Treasury Department has issued regulations that prescribe investment diversification requirements for the mutual fund series underlying non-qualified variable contracts. All Non-Qualified Contracts must comply with these regulations to qualify as annuities for federal income tax purposes. The owner of a Non-Qualified Contract that does not meet these guidelines will be subject to current taxation on annual increases in value of the Contract. We believe that each Fund available as an investment option under the Contract complies with these regulations.

In certain circumstances, owners of variable annuity contracts have been considered for federal income tax purposes to be the owners of the assets of the separate account supporting their contracts due to their ability to exercise investment control over those assets. When this is the case, the contract owners have been currently taxed on income and gains attributable to the variable account assets. There is limited guidance in this area, and some features of our Contracts, such as the flexibility of an owner to allocate premium payments and transfer amounts among the investment divisions of the separate account, have not been explicitly addressed in published rulings. While we believe that the Contracts do not give Owners investment control over separate account assets, we reserve the right to modify the Contracts as necessary to prevent an Owner from being treated as the Owner of the separate account assets supporting the Contract. Nevertheless, you should consult with a qualified tax professional on the potential impact of the investor control rules of the IRS as they relate to the investment decisions and activities you may undertake with respect to the Contract. In addition, the IRS and/or the Treasury Department may issue new rulings, interpretations or regulations on this subject in the future. Accordingly, we therefore reserve the right to modify the Contracts as necessary to attempt to prevent you from being considered the owner, for tax purposes, of the underlying assets. We also reserve the right to notify you if we determine that it is no longer practicable to maintain the Contract in a manner that was designed to prevent you from being considered the owner of the assets of the Separate Account. You bear the risk that you may be treated as the owner of Separate Account assets and taxed accordingly.

Tax Treatment of the Company and the Variable Account

As a life insurance company under the Code, we will record and report operations of the Variable Account separately from other operations. The Variable Account will not, however, constitute a regulated investment company or any

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other type of taxable entity distinct from our other operations. Under present law, we will not incur tax on the income of the Variable Account (consisting primarily of interest, dividends, and net capital gains) if we use this income to increase reserves under Contracts participating in the Variable Account.

Impact of Optional Death Benefits and Optional Living Benefits

For a further discussion, please refer to “Tax Issues Under SIR.”

Qualified Contracts. If your Contract is a Qualified Contract other than a Roth IRA, it is subject to certain required minimum distribution (RMD) requirements imposed by the Internal Revenue Code and IRS regulations. If you were born before July 1, 1949, your required beginning date is April 1 of the calendar year following the calendar year in which you reach age 70 ½. If you were born on or after July 1, 1949, your required beginning date is April 1 of the calendar year following the calendar year in which you reach age 72. For non-IRAs, distributions must begin no later than April 1 of the calendar year following the year in which you attain the applicable age or the date of retirement instead of age 72 if it is later. For that year, and each succeeding year, a distribution must be made on or before December 31. The RMD amount for a distribution calendar year is generally calculated by dividing the Contract’s value as of 12/31 of the prior calendar year by the applicable distribution factor set forth in a Uniform Lifetime Table in the IRS regulations.

The IRS’s RMD regulations provide that the annual RMD amount is to be calculated based on the Contract’s Account Value as of 12/31 plus “the actuarial present value of any additional benefits” that are provided under your Contract (such as optional death and living benefits) which is also calculated as of 12/31. When we notify you yearly of the RMD amount, we will inform you if the calculation included the actuarial present value of any additional benefits since such inclusion would have increased your RMD amount. Because of the above actuarial present value requirements, your initial election of a Contract’s optional benefit could cause your RMD amount to be higher than it would be without such an election. Additionally, if your RMD amount exceeds your guaranteed withdrawal amount under an optional living benefit, you may have to withdraw more than the guaranteed withdrawal amount to avoid the imposition of a 50% excise tax, and this may cause a reset of your guaranteed withdrawal benefit. Prior to electing to participate in any optional benefit, you should consult with a qualified tax professional as to the possible effect of that benefit on your yearly RMD amounts.

You may take an RMD amount calculated for a particular Individual Retirement Annuity from that Annuity or from another IRA of yours. Similarly, you may take an RMD amount calculated for a particular TSA annuity from that annuity or from another TSA account or TSA annuity of yours. If your Qualified Contract is an asset of a qualified retirement plan, the qualified plan is subject to the RMD requirements and the Contract, as an asset of the qualified plan, may need to be used as a source of funds for the RMDs.

If you are subject to the RMD requirements while you are enrolled in the AB Plan under any optional living benefit, any RMD amount that you take from the Contract will reduce the amount of the benefit under the AB Plan. This reduction could significantly reduce the value of the optional living benefit to you.

If you are subject to the RMD requirements while you are enrolled in the WB Plan under any optional living benefit, and any RMD amount that you take from the Contract ever exceeds the maximum amount that you may withdraw under the terms of the WB Plan, the additional withdrawal amount will reduce the amount of the benefit available under the WB Plan. This reduction could significantly reduce the value of the optional living benefit to you.

Participants in 403(b) plans who are under age 59¹⁄₂, are subject to withdrawal restrictions under the Internal Revenue Code that may prevent them from being able to make any withdrawals under the WB Plan while they remain under age 59¹⁄₂.

Prior to electing to participate in (or, if applicable, prior to renewing your participation in) any optional living benefit, you should consult with a qualified tax professional as to the possible effect of RMD distributions on the benefits that might otherwise be available under any optional living benefit.

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If your Contract is a traditional Individual Retirement Annuity or is held by your traditional Individual Retirement Account and you convert such a traditional Annuity or Account to a Roth IRA (see “Roth Individual Retirement Arrangements”), the IRS’s rules for determining the amount of your taxable income at the time of conversion include an amount based on the RMD actuarial present value requirements discussed above. Thus, your election of a Contract’s optional benefit could cause your taxable income upon conversion to be higher than it would be without such an election. Prior to electing to participate in (or, if applicable, prior to renewing your participation in) any optional living benefit or death benefit, you should consult with a qualified tax professional as to the possible effect of that benefit on conversion taxable income.

For Qualified Contracts issued other than as Individual Retirement Annuities, (1) we do not calculate your annual RMD amount nor do we notify you of such amount and (2) you should contact the Account’s trustee or custodian about RMD requirements since we only provide the trustee or custodian with the Contract’s value (including any actuarial present value of additional benefits discussed below) so that it can be used by the trustee or custodian in the Account’s RMD calculations.

Non-Qualified Contracts. We are required to make a determination as to the taxability of any withdrawal you make in order to be able to annually report to the IRS and your information about your withdrawal. Under the Internal Revenue Code, any withdrawal from a Non-Qualified Contract is taxable to the extent the annuity’s cash value (determined without regard to surrender charges) exceeds the investment in the contract. There is no definition of “cash value” in the Code and, for tax reporting purposes, we are currently treating it as the Account Value of the Contract. However, there can be no assurance that the IRS will agree that this is the correct cash value. The IRS could, for example, determine that the cash value is the Account Value plus an additional amount representing the value of an optional benefit. If this were to occur, election of an optional benefit could cause any withdrawal, including a withdrawal under the withdrawal benefit of any optional living benefit, to have a higher proportion of the withdrawal derived from taxable investment earnings. Prior to electing to participate in an optional benefit (or, if applicable, prior to renewing your participation in any optional living benefit), you should consult with a qualified tax professional as to the meaning of “cash value.”

Definition of Spouse Under Federal Law

The Contract provides that upon your death, a surviving spouse may have certain continuation rights that he or she may elect to exercise for the Contract’s death benefit and any joint-life coverage under an optional living benefit. All Contract provisions relating to spousal continuation are available only to a person who meets the definition of “spouse” under federal law. The U.S. Supreme Court has held that same-sex marriages must be permitted under state law and that marriages recognized under state law will be recognized for federal law purposes. Domestic partnerships and civil unions that are not recognized as legal marriages under state law, however, will not be treated as marriages under federal law. Consult a qualified tax professional for more information on this subject.

Federal Estate Taxes

While no attempt is being made to discuss the Federal estate tax implications of the Contract, a purchaser should keep in mind that the value of an annuity contract owned by a decedent and payable to a beneficiary by virtue of an annuity contract owned by a decedent and payable to a beneficiary by virtue of surviving the decedent is included in the decedent’s gross estate. Depending on the terms of the annuity contract, the value of the annuity included in the gross estate may be the value of the lump sum payment payable to the designated beneficiary or the actuarial value of the payments to be received by the beneficiary. Please consult an estate planning adviser for more information.

Generation-skipping Transfer Tax

Under certain circumstances, the Code may impose a “generation-skipping transfer tax” when all or part of an annuity contract is transferred to, or a death benefit is paid to, an individual two or more generations younger than the Owner. Regulations issued under the Code may require us to deduct the tax from your Contract, or from any applicable payment, and pay it directly to the IRS. Please consult a qualified tax professional for more information.

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Tax Cuts and Jobs Act of 2017

On December 22, 2017, the Tax Cuts and Jobs Act was enacted that included a broad range of tax reforms affecting businesses and individuals, including certain provisions related to contract owner tax reporting (effective after January 1, 2018. Please consult a qualiufied tax professional for more information.

Medicare Tax

Beginning in 2013, distributions from non-qualified annuity policies will be considered “investment income” for purposes of the newly enacted Medicare tax on investment income. Thus, in certain circumstances, a 3.8% tax may be applied to some or all of the taxable portion of distributions (e.g. earnings) to individuals whose income exceeds certain threshold amounts ($200,000 for filing single, $250,000 for married filing jointly and $125,000 for married filing separately.) Please consult a qualified tax professional for more information.

Annuity Purchases by Residents of Puerto Rico

The Internal Revenue Service has announced that income received by residents of Puerto Rico under life insurance or annuity contracts issued by a Puerto Rico branch of a United States life insurance company is U.S.-source income that is generally subject to United States federal income tax.

Annuity Purchases by Nonresident Aliens and Foreign Corporations

The discussion above provides general information regarding U.S. federal income tax consequences to annuity purchasers that are U.S. citizens or residents. Purchasers that are not U.S. citizens or residents will generally be subject to U.S. federal withholding tax on taxable distributions from annuity contracts at a 30% rate, unless a lower treaty rate applies. In addition, purchasers may be subject to state and/or municipal taxes and taxes that may be imposed by the purchaser’s country of citizenship or residence. Prospective purchasers are advised to consult with a qualified tax professional regarding U.S. state, and foreign taxation with respect to an annuity contract purchase.

Possible Tax Law Changes

Although the likelihood of legislative changes is uncertain, there is always the possibility that the tax treatment of the Contract could change by legislation or otherwise. Consult a qualified tax professional with respect to legislative developments and their effect on the Contract.

We have the right to modify the Contract in response to legislative changes that could otherwise diminish the favorable tax treatment that annuity contract owners currently receive. We make no guarantee regarding the tax status of any Contract and do not intend the above discussion as tax advice.

Puerto Rico Tax Provisions

The Contract offered by this Prospectus is considered a non-qualified annuity contract under Section 1022 of the Puerto Rico Internal Revenue Code of 1994, as amended and Section 1031.01 of the 2011 Internal Revenue Code for a New Puerto Rico, as amended (collectively the “Puerto Rico Code”). Under the current provisions of the Puerto Rico Code, no income tax is payable on increases in value of accumulation shares of annuity units credited to a variable annuity contract until payments are made to the annuitant or other payee under such contract.

When payments are made from your Contract in the form of an annuity, the annuitant or other payee will be required to include as gross income the lesser of the amount received during the taxable year or the portion of the amount received equal to 3% of the aggregate premiums or other consideration paid for the annuity. The amount, if any, in excess of the included amount is excluded from gross income as a return of premium. After an amount equal to the aggregate premiums or other consideration paid for the annuity has been excluded from gross income, all of the subsequent annuity payments are considered to be taxable income.

When a payment under a Contract is made in a lump sum, the amount of the payment would be included in the gross income of the Annuitant or other Payee to the extent it exceeds the Annuitant’s aggregate premiums or other consideration paid.

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The provisions of the Puerto Rico Code with respect to qualified retirement plans described in this Prospectus vary significantly from those under the Internal Revenue Code. We currently offer the Contract in Puerto Rico in connection with Individual Retirement Arrangements that qualify under the U.S. Internal Revenue Code but do not qualify under the Puerto Rico Code. See the applicable text of this Prospectus under the heading “U.S. Federal Income Tax Provisions” dealing with such Arrangements and their RMD requirements. We may make Contracts available for use with other retirement plans that similarly qualify under the U.S. Internal Revenue Code but do not qualify under the Puerto Rico Code.

As a result of IRS Revenue Ruling 2004-75, as amplified by Revenue Ruling 2004-97, we will treat Contract distributions and withdrawals occurring on or after January 1, 2005 as U.S.-source income that is subject to U.S. income tax withholding and reporting. Under “TAX PROVISIONS,” see “Pre-Distribution Taxation of Contracts,” “Distributions and Withdrawals from Non-Qualified Contracts,” “Withholding” and “Non-Qualified Contracts.” You should consult a qualified tax professional for advice regarding the effect of Revenue Ruling 2004-75 on your U.S. and Puerto Rico income tax situation.

For information regarding the income tax consequences of owning a Contract, you should consult a qualified tax professional.

ADMINISTRATION OF THE CONTRACT

We have engaged se², llc (“se²”), a leading third-party provider of contract administration services for many other life insurance companies, located at 5801 SW 6^th Avenue, Topeka, KS 66636, to administer the Contracts. Administrative functions performed by se² include maintaining the books and records of the Variable Account and the Sub-Accounts; maintaining records of the name, address, taxpayer identification number, Contract number, Participant Account number and type, the status of each Participant Account and other pertinent information necessary to the administration and operation of the Contract; processing Applications, Purchase Payments, transfers, Death Benefits and full and partial withdrawals; issuing Contracts and Certificates; administering annuity payments; furnishing accounting and valuation services; reconciling and depositing cash receipts; providing confirmations; providing toll-free customer service lines; and furnishing telephonic transfer services. The compensation paid to se² is based on the number of Contracts to which they provide these administrative services.

Business Disruption and Cyber Security Risks

We rely on technology, including digital communications and data storage networks and systems, to conduct our variable product business activities. Because our variable product business is highly dependent upon the effective operation of our computer systems and those of our service providers and other business partners, our business is vulnerable to disruptions from utility outages, and susceptible to operational and information security risks resulting from information systems failure and cyber-attacks. We have established administrative and technical controls and cyber security plans, including a business continuity plan, to identify and protect our operations against business interruption and/or cyber security breaches. Despite these controls, a cyber security breach could have a material, negative impact on the Company and the Variable Account, as well as on you and your Contract. Our operations also could be negatively affected by a cyber security breach impacting a third party, such as a governmental or regulatory authority, a service provider or another participant in the financial markets. Operational and information security risks include, among other things, the theft, misuse, corruption, and destruction of data maintained online or digitally, interference with or denial of service, attacks on our website and other operational disruption, interruptions of service resulting from natural disasters, and unauthorized release of confidential customer information. Cyber security breaches may interfere with our processing of Contract transactions, including the processing of orders, impact our ability to calculate Variable Accumulation Unit values, cause the release or possible destruction of your confidential information or business information, impede order processing or cause other operational issues, subject us and/or our service providers and intermediaries to regulatory fines, litigation, and financial losses and/or cause reputational damage. Cyber security breaches may also impact the Funds and the issuers of securities in which the Funds invest, which may cause the Funds to lose value. There can be no assurance that we or the Funds will always be able to avoid cyber security risks.

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In addition, we are also 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 of our employees or the employees of our service providers to perform their job responsibilities. In the event our employees and/or the employees of our service providers are required to work remotely, those remote work arrangements could 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 the Variable Accumulation Unit values, or have other possible negative impacts. There can be no assurance that we, our service providers, or the Funds will be able to avoid negative impacts associated with natural and man-made disasters and catastrophes.

The COVID-19 pandemic to date has led to the implementation of various responses, including government-imposed quarantines, travel restrictions and other public health-focused safety measures across the United States and in other countries. Some of these responses may increase the risk to the Company and the Variable Account of cyber security breaches or other forms of business disruption in ways that are currently unpredictable. Although we continually make efforts to identify and reduce our exposure to these risks, there is considerable uncertainty around both the severity and duration of the COVID-19 outbreak and, for that reason, the future financial and other impacts of the pandemic on the Company cannot reasonably be estimated at this time.

DISTRIBUTION OF THE CONTRACT

Contracts are sold by licensed insurance agents (“the Selling Agents”) in those states where the Contract may be lawfully sold. Such Selling Agents will be registered representatives of affiliated or unaffiliated broker-dealer firms (“the Selling Broker-Dealers”) registered under the Securities Exchange Act of 1934 who are members of the Financial Industry Regulatory Authority (“FINRA”) and who have entered into selling agreements with the Company and the general distributor, Clarendon Insurance Agency, Inc. (“Clarendon”), 1601 Trapelo Road, Suite 30, Waltham, Massachusetts 02451. Clarendon is a wholly-owned subsidiary of the Company, is registered with the SEC under the Securities Exchange Act of 1934 as a broker-dealer and is a member of FINRA.

The Company (or its affiliate, for purposes of this section only, collectively, “the Company”), pays the Selling Broker-Dealers compensation for the promotion and sale of the Contract. The Selling Agents who solicit sales of the Contract typically receive a portion of the compensation paid by the Company to the Selling Broker-Dealers in the form of commissions or other compensation, depending on the agreement between the Selling Broker-Dealer and their Selling Agent. This compensation is not paid directly by the Participant or the separate account. The Company intends to recoup this compensation through fees and charges imposed under the Contract, and from profits on payments received by the Company for providing administrative, marketing, and other support and services to the Funds.

The amount and timing of commissions the Company may pay to Selling Broker-Dealers may vary depending on the selling agreement but is not expected to be more than 7.00% of Purchase Payments, and 1.25% annually of the Participant’s Account Value. The Company may pay or allow other promotional incentives or payments in the form of cash or other compensation to the extent permitted by FINRA rules and other applicable laws and regulations, and this compensation may be significant in amount.

The Company also pays compensation to wholesaling broker-dealers or other firms or intermediaries in return for wholesaling services such as providing marketing and sales support, product training and administrative services to the Selling Agents of the Selling Broker-Dealers. This compensation may be significant in amount and may be based on a percentage of Purchase Payments and/or a percentage of Contract value and/or may be a fixed dollar amount.

In addition to the compensation described above, the Company may make additional cash payments, in certain circumstances referred to as “override” compensations, or reimbursements to Selling Broker-Dealers in recognition of their marketing and distribution, transaction processing and/or administrative services support. These payments are not offered to all Selling Broker-Dealers, and the terms of any particular agreement governing the payments may vary

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among Selling Broker-Dealers depending on, among other things, the level and type of marketing and distribution support provided. Marketing and distribution support services may include, among other services, placement of the Company’s products on the Selling Broker-Dealers’ preferred or recommended list, access to the Selling Broker-Dealers’ registered representatives for purposes of promoting sales of the Company’s products, assistance in training and education of the Selling Agents, and opportunities for the Company to participate in sales conferences and educational seminars. The payments or reimbursements may be calculated as a percentage of the particular Selling Broker-Dealer’s actual or expected aggregate sales of our variable contracts (including the Contract) or assets held within those contracts and/or may be a fixed dollar amount. Broker-dealers receiving these additional payments may pass on some or all of the payments to the Selling Agent. The prospect of receiving, or the receipt of additional compensation as described above may provide Selling Broker-Dealers with an incentive to favor sales of the Contracts over other variable annuity contracts (or other investments) with respect to which the Selling Broker-Dealer does not receive additional compensation, or lower levels of additional compensation. You should take such payment arrangements into account when considering and evaluating any recommendation relating to the Contracts.

In addition to selling our variable contracts (including the Contract), some Selling Broker-Dealers or their affiliates may have other business relationships with the Company. Those other business relationships may include, for example, reinsurance agreements pursuant to which an affiliate of the Selling Broker-Dealer provides reinsurance to the Company relative to some or all of the Contracts or other variable policies issued by the Company or its affiliates. The potential profits for a Selling Broker-Dealer or its affiliates (including its registered representatives) associated with such reinsurance arrangements could be significant in amount and could indirectly provide incentives to the Selling Broker-Dealer and its Selling Agents to recommend products for which they provide reinsurance over similar products which do not result in potential reinsurance profits to the Selling Broker-Dealer or its affiliate. The operation of an individual contract is not impacted by whether the policy is subject to a reinsurance arrangement between the Company and an affiliate of the Selling Broker-Dealer.

As discussed in the preceding paragraphs, the Selling Broker-Dealer may receive numerous forms of payments that, directly or indirectly, provide incentives to, and otherwise facilitate and encourage the offer and sale of the Contracts by Selling Broker-Dealers and their registered representatives. Such payments may be greater or less in connection with the Contracts than in connection with other products offered and sold by the Company or by others. Accordingly, the payments described above may create a potential conflict of interest, as they may influence your Selling Broker-Dealer or registered representative to present a Contract to you instead of (or more favorably than) another product or products that might be preferable to you.

You should ask your Selling Agent for further information about what commissions or other compensation he or she, or the Selling Broker-Dealer for which he or she works, may receive in connection with your purchase of a Contract.

Commissions may be waived or reduced in connection with certain transactions described in this Prospectus under the heading “Waivers; Reduced Charges; Credits; Special Guaranteed Interest Rates.” During 2017, 2018, and 2019, respectively, approximately $2,391,350, $2,047,470, and $1,790,918, in commissions were paid by Delaware Life Insurance Company on behalf of Clarendon in connection with the distribution of the Contracts described in this Prospectus.

AVAILABLE INFORMATION

The Company and the Variable Account have filed with the SEC registration statements under the Securities Act of 1933 relating to the Contracts. For further information regarding the Variable Account, the Company and the Contracts, please refer to the registration statements and their exhibits.

You can inspect and copy this information and our registration statements at the SEC’s public reference facilities at the following location: 100 F Street, N.E., Washington, D.C. 20549-0102, telephone (202) 551-8090. The SEC’s public reference room will also provide copies by mail for a fee. You may also find these materials on the SEC’s website (www.sec.gov).

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STATE REGULATION

The Company is subject to the laws of the State of Delaware governing life insurance companies and to regulation by the Commissioner of Insurance of Delaware. An annual statement is filed with the Commissioner of Insurance on or before March 1st in each year relating to the operations of the Company for the preceding year and its financial condition on December 31st of such year. Its books and records are subject to review or examination by the Commissioner or his agents at any time and a full examination of its operations is conducted at periodic intervals.

The Company is also subject to the insurance laws and regulations of the other states and jurisdictions in which it is licensed to operate. The laws of the State of Delaware and the various jurisdictions establish supervisory agencies with broad administrative powers with respect to licensing to transact business, overseeing trade practices, licensing agents, approving policy forms, establishing reserve requirements, fixing maximum interest rates on life insurance policy loans and minimum rates for accumulation of surrender values, prescribing the form and content of required financial statements and regulating the type and amounts of investments permitted. Each insurance company is required to file detailed annual reports with supervisory agencies in each of the jurisdictions in which it does business and its operations and accounts are subject to examination by such agencies at regular intervals.

In addition, many states regulate affiliated groups of insurers, such as the Company and its affiliates, under insurance holding company legislation. Under such laws, inter-company transfers of assets and dividend payments from insurance subsidiaries may be subject to prior notice or approval, depending on the size of such transfers and payments in relation to the financial positions of the companies involved. Such insurance holding company legislation protects the Company’s ability to pay all guaranteed contract benefits, including any optional living benefits and death benefits. Under insurance guaranty fund laws in most states, insurers doing business therein can be assessed (up to prescribed limits) for policyholder losses incurred by insolvent companies. The amount of any future assessments of the Company under these laws cannot be reasonably estimated. However, most of these laws do provide that an assessment may be excused or deferred if it would threaten an insurer’s own financial strength and many permit the deduction of all or a portion of any such assessment from any future premium or similar taxes payable. A state’s assessment on insurers in connection with the state guaranty fund would not affect the Company’s obligation to pay guaranteed contract benefits, including any optional living benefits and death benefits. If an assessment were so large as to affect the Company’s own ability to meet its obligations, then the provisions to excuse, defer, or offset such assessment would allow the Company to pay guaranteed contract benefits.

Although the federal government generally does not directly regulate the business of insurance, federal initiatives often have an impact on the business in a variety of ways. Current and proposed federal measures which may significantly affect the insurance business include employee benefit regulation, removal of barriers preventing banks from engaging in the insurance business, tax law changes affecting the taxation of insurance companies, the tax treatment of insurance products and its impact on the relative desirability of various personal investment vehicles.

LEGAL PROCEEDINGS

The Company, like other insurance companies, is involved in lawsuits, including class action lawsuits. Although the outcome of any litigation cannot be predicted with certainty, Delaware Life Insurance Company believes that, at the present time, there are no pending or threatened lawsuits that are reasonably likely to have a material adverse impact on the Variable Account, on the ability of Clarendon Insurance Agency, Inc. to perform under its principal underwriting agreement, or on our ability to meet our obligations under the Contract.

FINANCIAL STATEMENTS

The financial statements of the Company which are included in the SAI should be considered only as bearing on the ability of the Company to meet its obligations with respect to amounts allocated to the Fixed Account and with respect to the death benefit and the Company’s assumption of the mortality and expense risks. They should not be considered as bearing on the investment performance of the Fund shares held in the Sub-Accounts of the Variable Account.

The financial statements of the Variable Account for the year ended December 31, 2019 are also included in the SAI.

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TABLE OF CONTENTS OF STATEMENT OF ADDITIONAL INFORMATION

Delaware Life Insurance Company	2
Advertising and Sales Literature	2
Tax-Deferred Accumulation	4
Calculations	4
Example of Net Investment Factor Calculation	4
Example of Variable Accumulation Unit Value Calculation	5
Annuity Provisions	5
Determination of Annuity Payments	5
Annuity Unit Value	6
Example of Variable Annuity Unit Calculation	6
Example of Variable Annuity Payment Calculation	6
Distribution of the Contracts	7
Custodian	7
Experts	7
Financial Statements	7

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APPENDIX A - GLOSSARY

The following terms as used in this Prospectus have the indicated meanings:

ACCOUNT or PARTICIPANT ACCOUNT: An account established for each Participant to which Net Purchase Payments are credited.

ACCOUNT QUARTER: A three-month period, with the first Account Quarter beginning on your Issue Date.

ACCOUNT VALUE: The Variable Account Value, if any, plus the Fixed Account Value, if any, of your Account for any Valuation Period.

ACCOUNT YEAR and ACCOUNT ANNIVERSARY: Your first Account Year is the period 365 days (366, if a leap year) from the date on which we issued your Contract. Your Account Anniversary is the last day of an Account Year. Each Account Year after the first is the 365-day period that begins on your Account Anniversary. For example, if the Issue Date is on March 12, the first Account Year is determined from the Issue Date and ends on March 12 of the following year. Your Account Anniversary is March 12 and all Account Years after the first are measured from March 12. (If the Anniversary Date falls on a non-Business Day, the previous Business Day will be used.)

ACCUMULATION PHASE: The period before the Annuity Commencement Date and during the lifetime of the Annuitant (and while the Covered Person and all Owners are still alive) during which you make Purchase Payments under the Contract. This is called the “Accumulation Period” in the Contract.

ADJUSTED PURCHASE PAYMENTS: Purchase Payments adjusted for partial withdrawals as described in “Calculating the Death Benefit.”

*ANNUITANT: The person or persons to whom the first annuity payment is made. If either Annuitant dies prior to the Annuity Commencement Date, the surviving Annuitant will become the sole Annuitant. The Annuitant becomes the Payee on the Annuity Commencement Date.

ANNUITY COMMENCEMENT DATE: The date on which the first annuity payment under each Contract is to be made.

ANNUITY OPTION: The method you choose for making annuity payments.

ANNUITY UNIT: A unit of measure used in the calculation of the amount of the second and each subsequent Variable Annuity payment from the Variable Account.

APPLICATION: The document signed by you or other evidence acceptable to us that serves as your application for participation under a Group Contract or purchase of an Individual Contract.

*BENEFICIARY: The person or entity having the right to receive the death benefit and, for a Certificate issued under a Non-Qualified Contract, who is the “designated beneficiary” for purposes of Section 72(s) of the Code in the event of the Participant’s death. Notwithstanding the foregoing, if there is more than one Participant of a Non-Qualified Contract, the surviving Participant will be deemed the beneficiary under the preceding sentence and any other designated beneficiary will be treated as a contingent beneficiary. The Beneficiary becomes the Payee on the death of the Covered Person prior to the Annuity Commencement Date, or on the death of the Annuitant on or after the Annuity Commencement Date.

BUSINESS DAY: Any day the New York Stock Exchange is open for trading. Also, any day on which we make a determination of the value of a Variable Accumulation Unit.

CERTIFICATE: The document for each Participant which evidences the coverage of the Participant under a Group Contract.

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COMPANY (“WE”, “US” “DELAWARE LIFE”): Delaware Life Insurance Company.

CONTRACT: Any Individual Contract, Group Contract, or Certificate issued under a Group Contract.

COVERED PERSON: The person(s) identified as such in the Contract whose death will trigger the death benefit provisions of the Contract and whose medically necessary stay in a hospital or nursing facility may allow the Participant to be eligible for a waiver of the withdrawal charge. The Participant/Owner is the Covered Person unless there is a non-natural Owner, such as a trust, in which case the Annuitant is the Covered Person.

DEATH BENEFIT DATE: If you have elected a death benefit payment option before the Covered Person’s death that remains in effect, the date on which we receive Due Proof of Death. If your Beneficiary elects the death benefit payment option, the later of (a) the date on which we receive the Beneficiary’s election and (b) the date on which we receive Due Proof of Death. If we do not receive the Beneficiary’s election within 60 days after we receive Due Proof of Death, the Beneficiary shall be deemed to have elected to defer receipt of payment under any death benefit option until such time as a written election is received by the Company or a distribution is required by law.

DESIGNATED FUNDS: The limited investment options you can choose if you are participating in a living benefit.

DUE PROOF OF DEATH: Receipt by the Company of (1) an original certified copy of an official death certificate or an original certified copy of a decree of a court of competent jurisdiction as to the finding of death, and (2) any other information or documentation required by the Company that is necessary to make payment (e.g., taxpayer identification numbers, beneficiary names and addresses, state inheritance tax waivers, etc.).

FIFTH-YEAR ANNIVERSARY: The fifth Account Anniversary and each succeeding Account Anniversary occurring at any five year interval thereafter; for example, the 10th, 15th, and 20th Account Anniversaries.

FIXED ACCOUNT: The general account of the Company, consisting of all assets of the Company other than those allocated to a separate account of the Company.

FIXED ACCOUNT VALUE: The value of that portion of your Account allocated to the Fixed Account.

FIXED ANNUITY: An annuity with payments which do not vary as to dollar amount.

FUND: A registered management investment company, or series thereof, in which assets of a Sub-Account may be invested.

GOOD ORDER: An instruction that is received by the Company, that is sufficiently complete and clear, along with all forms, information and supporting legal documentation (including any required spousal or joint owner’s consents) so that the Company does not need to exercise any discretion to follow such instruction. All orders to process a withdrawal request, a request to surrender your Contract, a fund transfer request, or a death benefit claim must be in good order.

GROUP CONTRACT: A Contract issued by the Company on a group basis.

GUARANTEE AMOUNT: Each separate allocation of Account Value to a particular Guarantee Period (including interest earned thereon).

GUARANTEE PERIOD: The period for which a Guaranteed Interest Rate is credited.

GUARANTEED INTEREST RATE: The rate of interest we credit on a compound annual basis during any Guarantee Period.

INCOME PHASE: The period on and after the Annuity Commencement Date and during the lifetime of the Annuitant during which we make annuity payments under the Contract.

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INDIVIDUAL CONTRACT: A Contract issued by the Company on an individual basis.

ISSUE DATE: The date the Contract becomes effective which is the date we apply your initial Net Purchase Payment to your Account and issue your Contract. This is called the “Date of Coverage” in the Contract.

MAXIMUM ANNUITY COMMENCEMENT DATE: The first day of the month following the youngest Annuitant’s 95^th birthday.

NET INVESTMENT FACTOR: An index applied to measure the investment performance of a Sub-Account from one Valuation Period to the next. The Net Investment Factor may be greater than, less than, or equal to one.

NET PURCHASE PAYMENT: The portion of a Purchase Payment which remains after the deduction of any applicable premium tax or similar tax.

NON-QUALIFIED CONTRACT: A Contract used in connection with a retirement plan that does not receive favorable federal income tax treatment under Sections 401, 403, 408, or 408A of the Internal Revenue Code. The Participant’s interest in the Contract must be owned by a natural person or agent for a natural person for the Contract to receive income tax treatment as an annuity.

OPEN DATE: The Business Day your Application is received by the Company at its Service Address. The ages of all Owners and Annuitants on the Open Date determines your eligibility for purchasing a Contract and for electing the optional death benefit and the optional living benefit.

*OWNER: The person, persons or entity entitled to the ownership rights stated in a Group Contract and in whose name or names the Group Contract is issued. The Owner may designate a trustee or custodian of a retirement plan which meets the requirements of Section 401, Section 408(c), Section 408(k), Section 408(p) or Section 408A of the Internal Revenue Code to serve as legal owner of assets of a retirement plan, but the term “Owner,” as used herein, shall refer to the organization entering into the Group Contract.

*PARTICIPANT: In the case of an Individual Contract, the owner of the Contract. In the case of a Group Contract, the person named in the Contract who is entitled to exercise all rights and privileges of ownership under the Contract, except as reserved by the Owner. If there are two Participants, the death benefit is paid upon the death of either Participant.

PAYEE: A recipient of payments under a Contract. The term includes (1) an Annuitant or (2) a Beneficiary who becomes entitled to benefits upon the death of the Participant, or upon the death of the Annuitant on or after the Annuity Commencement Date.

PURCHASE PAYMENT (PAYMENT): An amount paid to the Company as consideration for the benefits provided by a Contract.

PURCHASE PAYMENT INTEREST: The amount of extra interest the Company credits to a Contract for each Purchase Payment made. The rate of interest varies between 2% and 6% of the Purchase Payment or Account Value based upon the interest rate option chosen at the time of application, as described under “Purchase Payment Interest” in this Prospectus.

QUALIFIED CONTRACT: A Contract used in connection with a retirement plan which may receive favorable federal income tax treatment under Sections 401, 403, 408 or 408A of the Internal Revenue Code of 1986, as amended.

RENEWAL DATE: The last day of a Guarantee Period.

SERVICE ADDRESS: P.O. Box 758581 Topeka, KS 66675-8581 or such other address as we may hereafter specify to you by written notice.

SUB-ACCOUNT: That portion of the Variable Account which invests in shares of a specific Fund.

SURRENDER VALUE: The amount payable on full withdrawal (or surrender) of your Contract.

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VALUATION PERIOD: The period of time from one determination of Variable Accumulation Unit or Annuity Unit values to the next subsequent determination of these values. Value determinations are made as of the close of the New York Stock Exchange on each day that the Exchange is open for trading.

VARIABLE ACCOUNT: Variable Account F of the Company, which is a separate account of the Company consisting of assets set aside by the Company, the investment performance of which is kept separate from that of the general assets of the Company.

VARIABLE ACCUMULATION UNIT: A unit of measure used in the calculation of Variable Account Value.

VARIABLE ACCOUNT VALUE: The value of that portion of your Account allocated to the Variable Account.

VARIABLE ANNUITY: An annuity with payments which vary as to dollar amount in relation to the investment performance of the Variable Account.

YOU and YOUR: The terms “you” and “your” refer to “Owner,” “Participant,” and/or “Covered Person” as those terms are identified in the Contract.

* You specify these items on the Application, and may change them, as we describe in this Prospectus.

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APPENDIX B - WITHDRAWALS, WITHDRAWAL CHARGES, & MARKET VALUE ADJUSTMENT

Part 1: Variable Account (the Market Value Adjustment does not apply to the Variable Account)

Withdrawal Charge Calculation:

Full Withdrawal:

Assume a Purchase Payment of $40,000 is made on the Issue Date, no additional Purchase Payments are made and there are no partial withdrawals. The table below presents three examples of the withdrawal charge resulting from a full withdrawal of your Account, based on hypothetical Account Values.

	Account Year		Hypothetical Account Value		Annual Earnings		Cumulative Annual Earnings		Free Withdrawal Amount		Purchase Payment Amount Subject to Withdrawal Charge		Withdrawal Charge Percentage			Withdrawal Charge Amount
(a)		1	$	41,000	$	1,000	$	1,000	$	4,000	$	37,000		8.00	%	$	2,960
		2	$	45,100	$	4,100	$	5,100	$	4,000	$	40,000		8.00	%	$	3,200
		3	$	49,600	$	4,500	$	9,600	$	4,100	$	40,000		7.00	%	$	2,800
(b)		4	$	52,100	$	2,500	$	12,100	$	4,500	$	40,000		6.00	%	$	2,400
		5	$	57,300	$	5,200	$	17,300	$	4,000	$	40,000		5.00	%	$	2,000
		6	$	63,000	$	5,700	$	23,000	$	5,200	$	40,000		4.00	%	$	1,600
		7	$	66,200	$	3,200	$	26,200	$	5,700	$	40,000		3.00	%	$	1,200
(c)		8	$	72,800	$	6,600	$	32,800	$	40,000	$	0		0.00	%	$	0

(a) The free withdrawal amount in any year is equal to the greater of (1) the Contract’s earnings during the prior Account Year, and (2) 10% of any Purchase Payments made in the last seven Account Years. In Account Year 1, the free withdrawal amount is $4,000, which equals 10% of the Purchase Payment of $40,000. On a full withdrawal of $41,000, the amount subject to a withdrawal charge is $37,000, which equals the Account Value of $41,000 minus the free withdrawal amount of $4,000.

(b) In Account Year 4, the free withdrawal amount is $4,500, which equals the prior Account Year’s earnings. On a full withdrawal of $52,100, the amount subject to a withdrawal charge is $40,000. The first $4,500 withdrawn is the free amount, then Purchase Payments are withdrawn and subject to a withdrawal charge. The remaining $7,600 of this withdrawal is considered earnings and is not subject to a withdrawal charge.

(c) In Account Year 8, the free withdrawal amount is $40,000, which equals 100% of the Purchase Payment of $40,000. On a full withdrawal of $72,800, the amount subject to a withdrawal charge is $0, since the Purchase Payment amount subject to a withdrawal charge equals $0.

Partial Withdrawal

Assume a single Purchase Payment of $40,000 is made on the Issue Date, no additional Purchase Payments are made, no partial withdrawals have been taken prior to the fourth Account Year, and there are a series of four partial withdrawals made during the fourth Account Year of $4,100, $9,000, $12,000, and $20,000.

Account Year	Hypothetical Account Value Before Withdrawal		Earnings		Cumulative Earnings		Amount of Withdrawal		Remaining Free Withdrawal Amount Before Withdrawal		Amount of Withdrawal Subject to Withdrawal Charge		Withdrawal Charge Percentage			Withdrawal Charge Amount
1	$	41,000	$	1,000	$	1,000	$	0	$	4,000	$	0		8.00	%	$	0
2	$	45,100	$	4,100	$	5,100	$	0	$	4,000	$	0		8.00	%	$	0
3	$	49,600	$	4,500	$	9,600	$	0	$	4,100	$	0		7.00	%	$	0
(a) 4	$	50,100	$	500	$	10,100	$	4,100	$	4,500	$	0		6.00	%	$	0
(b) 4	$	46,800	$	800	$	10,900	$	9,000	$	400	$	8,600		6.00	%	$	516
(c) 4	$	38,400	$	600	$	11,500	$	12,000	$	0	$	12,000		6.00	%	$	720
(d) 4	$	26,800	$	400	$	11,900	$	20,000	$	0	$	19,400		6.00	%	$	1,164

(a) In Account Year 4, the free withdrawal amount is $4,500, which equals the prior Account Year’s earnings. The partial withdrawal amount of $4,100 is less than the free withdrawal amount, so there is no withdrawal charge.

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(b) Since a partial withdrawal of $4,100 was taken, the remaining free withdrawal amount in Account Year 4 is $4,500 - $4,100 = $400. Therefore, $400 of the $9,000 withdrawal is not subject to a withdrawal charge, and $8,600 is subject to a withdrawal charge.

(c) Since the total of the two prior Account Year 4 partial withdrawals ($13,100) is greater than the free withdrawal amount of $4,500, there is no remaining free withdrawal amount. The entire withdrawal amount of $12,000 is subject to a withdrawal charge.

(d) Since the total of the three prior Account Year 4 partial withdrawals ($25,100) is greater than the free withdrawal amount of $4,500, there is no remaining free withdrawal amount. Since the total amount of Purchase Payments was $40,000 and $20,600 of the Purchase Payments has already been surrendered, only $19,400 of this $20,000 withdrawal comes from withdrawing Purchase Payments. The remaining $600 of this withdrawal is considered earnings and is not subject to a withdrawal charge.

Note that since all of the Purchase Payments were liquidated by the final withdrawal of $20,000, the total withdrawal charge for the four Account Year 4 withdrawals is $2,400, which is the same amount that was assessed for a full liquidation in Account Year 4 in the example on the previous page. Any additional Account Year 4 withdrawals in the example shown on this page would come from the liquidating of earnings and would not be subject to a withdrawal charge.

Part 2 - Fixed Account - Examples of the Market Value Adjustment (“MVA”)

The MVA Factor is:

(	1 + I	)	N/12	- 1
	1 + J + b

These examples assume the following:

1) The Guarantee Amount was allocated to a 5-year Guarantee Period with a Guaranteed Interest Rate of 6% or .06.

2) The date of surrender is 2 years from the Expiration Date (N = 24).

3) The value of the Guarantee Amount on the date of surrender is $11,910.16.

4) The interest earned in the current Account Year is $674.16.

5) No transfers or partial withdrawals affecting this Guarantee Amount have been made.

6) Withdrawal charges, if any, are calculated in the same manner as shown in the examples in Part 1.

Example of a Positive MVA:

Assume that on the date of surrender, the current rate (J) is 5% or .05 and the b factor is zero.

The MVA factor	=	(	1 + I	)	N/12	- 1
			1 + J + b
	=	(	1 + .06	)	24/12	- 1
			1 + .05
	=	(	1.010	)	2	- 1
	=		1.019 - 1
	=		.019

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The value of the Guarantee Amount less interested credit to the Guarantee Amount in the current Account Year is multiplied by the MVA factor to determine the MVA:

($11,910.16 - $674.16) x .019 = $213.48

$213.48 represents the MVA that would be added to the value of the Guarantee Amount before the deduction of any withdrawal charge. For a partial withdrawal of $2,000 from this Guarantee Amount, the MVA would be ($2,000.00 - $674.16) x .019 = $25.19.$25.19 represents the MVA that would be added to the value of the partial withdrawal amount before the deduction of any withdrawal charge.

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APPENDIX C - PREVIOUSLY AVAILABLE OPTIONAL DEATH BENEFITS AND EXAMPLES

5% PREMIUM ROLL-UP (“5% ROLL-UP”) DEATH BENEFIT

Under the 5% Roll-Up, the death benefit will be the greater of:

• the amount payable under the basic death benefit, or

• the sum of your total Purchase Payments plus interest accruals, adjusted for partial withdrawals.

Under this death benefit, interest accrues at a rate of 5% per year on Purchase Payments and transfers to the Variable Account while they remain in the Variable Account. The 5% interest accruals will continue until the earlier of:

• the first day of the month following your 80th birthday, or

• the day the death benefit amount under this death benefit equals twice the sum of your Adjusted Purchase Payments.

Example 1:

Assume a Purchase Payment of $60,000 is made on the Issue Date, and an additional Purchase Payment of $40,000 is made one year later. Assume that all of the money is invested in the Sub-Accounts. No withdrawals are made. The Owner dies in the ninth Account Year. The Account Value on the Death Benefit Date is $135,000, and the value of the Purchase Payments accumulated at 5% until the Death Benefit Date is $145,000. The calculation of the death benefit to be paid is as follows:

The Death Benefit Amount will be the greatest of:
Account Value	=	$	135,000
Cash Surrender Value	=	$	135,000
Total of Adjusted Purchase Payments	=	$	100,000
5% Premium Roll-Up Value*	=	$	145,000
The Death Benefit Amount would therefore	=	$	145,000

* The 5% Premium Roll-Up Value is capped at 2 times the Adjusted Purchase Payments. Therefore, the cap = 2 x $100,000 = $200,000.

Example 2:

Assume a Purchase Payment of $60,000 is made on the Issue Date, and an additional Purchase Payment of $40,000 is made one year later. Assume that all of the money is invested in the Sub-Accounts and that the Account Value is $150,000 just prior to a $30,000 withdrawal. The Owner dies in the ninth Account Year. The Account Value on the Death Benefit Date is $90,000. The calculation of the death benefit to be paid is as follows:

The Death Benefit Amount will be the greatest of:
Account Value	=	$	90,000
Cash Surrender Value*	=	$	89,950
Total of Adjusted Purchase Payments**	=	$	80,000
5% Premium Roll-Up Value***	=	$	116,000
The Death Benefit Amount would therefore	=	$	116,000

* Cash Surrender Value is the amount we would pay you if you surrendered your entire Account Value. For a description of how Cash Surrender Value is calculated, see “Full Withdrawals” under the subheading “Cash Withdrawals.”

** Adjusted Purchase Payments can be calculated as follows: Purchase Payments x (Account Value after withdrawal ÷ Account Value before withdrawal) = $100,000 x ($120,000 ÷ $150,000) = $80,000.

*** The 5% Premium Roll-Up Value is capped at 2 times the Adjusted Purchase Payments. Therefore, the cap = 2 x $80,000 = $160,000.

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EARNINGS ENHANCEMENT BENEFIT PREMIER (“EEB PREMIER”) DEATH BENEFIT

If you elected EEB Premier, your death benefit will be the amount payable under the basic death benefit, PLUS the “EEB Premier amount.” Calculated as of the Death Benefit Date, the “EEB Premier amount” is determined as follows:

• If you are 69 or younger on your Open Date, the “EEB Premier amount” will be 45% of the difference between your Account Value and your Adjusted Purchase Payments, up to a cap. The cap is 100% of (a) the Adjusted Purchase Payments made prior to your death minus (b) any Purchase Payments made within the twelve months prior to your death but not within your first Account Year.

• If you are between the ages of 70 and 79 on your Open Date, the “EEB Premier amount” will be 25% of the difference between your Account Value and your Adjusted Purchase Payments, up to a cap. The cap is 40% of (a) the Adjusted Purchase Payments made prior to your death minus (b) any Purchase Payments made in the twelve months prior to your death but not within your first Account Year. In addition, on the Account Anniversary following your 85th birthday, the “EEB Premier amount” will be locked in. Partial withdrawals, whether before or after your 85th birthday, will proportionally reduce the “EEB Premier amount.”

Example 1:

Assume a Purchase Payment of $60,000 is made on the Issue Date, and an additional Purchase Payment of $40,000 is made one year later. Assume that all of the money is invested into the Sub-Accounts, no withdrawals are made and the Account Value on the Death Benefit Date is $135,000. In addition, this Contract was issued prior to the owner’s 70th birthday. Assume death occurs in Account Year 9. The calculation of the Death Benefit to be paid is as follows:

The Death Benefit Amount will be the greatest of:
Account Value	=	$135,000
Cash Surrender Value*	=	$135,000
Total of Adjusted Purchase Payments	=	$100,000
The Death Benefit Amount would therefore	=	$135,000

- PLUS -

The EEB amount, calculated as follows:
Account Value minus Adjusted Purchase Payments	=	$	35,000
45% of the above amount	=	$	15,750
Cap of 100% of Adjusted Purchase Payments	=	$	100,000
The lesser of the above two amounts = the EEB Premier amount	=	$	15,750

The total Death Benefit would be the amount paid on the basic death benefit plus the EEB Premier amount = $135,000 + $15,750 = $150,750.

Example 2:

Assume a Purchase Payment of $60,000 is made on the Issue Date, and an additional Purchase Payment of $40,000 is made one year later. Assume that all of the money is invested into the Sub-Accounts and that the Account Value is $135,000 just prior to a $20,000 withdrawal. The Account Value on the Death Benefit Date is $115,000. In addition, this Contract was issued prior to the owner’s 70th birthday and death occurs in year 9.

The Death Benefit Amount will be the greatest of:
Account Value	=	$	115,000
Cash Surrender Value*	=	$	115,000
Total of Adjusted Purchase Payments**	=	$	85,185
The Death Benefit Amount would therefore	=	$	115,000

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- PLUS -

The EEB amount, calculated as follows:
Account Value minus Adjusted Purchase Payments	=	$29,815
45% of the above amount	=	$13,417
Cap of 100% of Adjusted Purchase Payments	=	$85,185
The lesser of the above two amounts = the EEB Premier amount	=	$13,417

The total Death Benefit would be the amount paid on the basic death benefit plus the EEB Premier amount = $115,000 + $13,417 = $128,417.

* Cash Surrender Value is the amount we would pay you if you surrendered your entire Account Value. For a description of how Cash Surrender Value is calculated, see “Full Withdrawals” under the subheading “Cash Withdrawals.”

** Adjusted Purchase Payments can be calculated as follows: Payments x (Account Value after withdrawal ÷ Account Value before withdrawal) = $100,000 x ($115,000 ÷ $135,000) = $85,185.

EARNINGS ENHANCEMENT BENEFIT PREMIER PLUS (“EEB PREMIER PLUS”) DEATH BENEFIT

If you elected EEB Premier Plus, your death benefit will be the amount payable under the basic death benefit, PLUS the “EEB Premier Plus amount.” Calculated as of the Death Benefit Date, the “EEB Premier Plus amount” is determined as follows:

• If you are 69 or younger on your Open Date, the “EEB Premier Plus amount” will be 75% of the difference between your Account Value and your Adjusted Purchase Payments, up to a cap. The cap is 150% of (a) the Adjusted Purchase Payments made prior to your death minus (b) any Purchase Payments made within the 12 months prior to your death but not within your first Account Year.

• If you are between the ages of 70 and 79 on your Open Date, the “EEB Premier Plus amount” will be 35% of the difference between your Account Value and your Adjusted Purchase Payments, up to a cap. The cap is 60% of (a) the Adjusted Purchase Payments made prior to your death minus (b) any Purchase Payments made in the twelve months prior to your death but not within your first Account Year. In addition, on the Account Anniversary following your 85th birthday, the “EEB Premier Plus amount” will be locked in. Partial withdrawals, whether before or after your 85th birthday, will proportionally reduce the “EEB Premier Plus amount.”

Example:

Assume a Purchase Payment of $60,000 is made on the Issue Date, and an additional Purchase Payment of $40,000 is made one year later. Assume that all of the money is invested into the Sub-Accounts, no withdrawals are made and the Account Value on the Death Benefit Date is $135,000. In addition, this Contract was issued prior to the owner’s 70th birthday. Assume death occurs in Account Year 9. The calculation of the Death Benefit to be paid is as follows:

The Death Benefit Amount will be the greatest of:
Account Value	=	$	135,000
Cash Surrender Value*	=	$	135,000
Total of Adjusted Purchase Payments	=	$	100,000
The Death Benefit Amount would therefore	=	$	135,000

- PLUS -

The EEB Premier Plus amount, calculated as follows:
Account Value minus Adjusted Purchase Payments	=	$	35,000
75% of the above amount	=	$	26,250
Cap of 150% of Adjusted Purchase Payments	=	$	150,000
The lesser of the above two amounts = the EEB Premier Plus amount	=	$	26,250

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The total Death Benefit would be the amount paid on the basic death benefit plus the EEB Premier Plus amount = $135,000 + $26,250 = $161,250.

* Cash Surrender Value is the amount we would pay you if you surrendered your entire Account Value. For a description of how Cash Surrender Value is calculated, see “Full Withdrawals” under the subheading “Cash Withdrawals.”

EARNINGS ENHANCEMENT BENEFIT PREMIER WITH MAV (“EEB PREMIER WITH MAV”) DEATH BENEFIT

If you elected EEB Premier with MAV, your death benefit will be the amount payable under the MAV death benefit PLUS the “EEB Premier amount.” Calculated as of your Death Benefit Date, the “EEB Premier amount” is as follows:

• If you are 69 or younger on your Open Date, the “EEB Premier amount” will be 45% of the difference between your Account Value and your Adjusted Purchase Payments, up to a cap. The cap is 100% of (a) the Adjusted Purchase Payments made prior to your death minus (b) any Purchase Payments made in the twelve months prior to your death but not within your first Account Year.

• If you are between the ages of 70 and 79 on your Open Date, the “EEB Premier amount” will be 25% of the difference between your Account Value and your Adjusted Purchase Payments, up to a cap. The cap is 40% of (a) the Adjusted Purchase Payments made prior to your death minus (b) any Purchase Payments made in the twelve months prior to your death but not within your first Account Year. In addition, on the Account Anniversary following your 85th birthday, the “EEB Premier amount” will be locked in. Partial withdrawals, whether before or after your 85th birthday, will proportionally reduce the “EEB Premier amount.”

Example:

Assume a Purchase Payment of $60,000 is made on the Issue Date, and an additional Purchase Payment of $40,000 is made one year later. Assume that all of the money is invested into the Sub-Accounts, no withdrawals are made and the Account Value on the Death Benefit Date is $135,000. The Maximum Anniversary Value on the Death Benefit Date is $145,000. Assume death occurs in Account Year 9. In addition, this Contract was issued prior to the owner’s 70th birthday. The calculation of the Death Benefit to be paid is as follows:

The Death Benefit Amount will be the greatest of:
Account Value	=	$	135,000
Cash Surrender Value*	=	$	135,000
Total of Adjusted Purchase Payments	=	$	100,000
Maximum Anniversary Value	=	$	145,000
The Death Benefit Amount would therefore	=	$	145,000

- PLUS -

The EEB Premier with MAV amount, calculated as follows:
Account Value before EEB minus Adjusted Purchase Payments	=	$	35,000
45% of the above amount	=	$	15,750
Cap of 100% of Adjusted Purchase Payments	=	$	100,000
The lesser of the above two amounts = the EEB Premier with MAV amount	=	$	15,750

The total Death Benefit would be the amount paid on the MAV death benefit plus the EEB Premier with MAV amount = $145,000 + $15,750 = $160,750.

* Cash Surrender Value is the amount we would pay you if you surrendered your entire Account Value. For a description of how Cash Surrender Value is calculated, see “Full Withdrawals” under the subheading “Cash Withdrawals.”

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EARNINGS ENHANCEMENT BENEFIT PREMIER WITH 5% ROLL-UP (“EEB PREMIER WITH 5% ROLL-UP”) DEATH BENEFIT

If you elected EEB Premier with 5% Roll-Up, your death benefit will be the amount payable under the 5% Roll-Up death benefit PLUS the “EEB Premier amount.” Calculated as of your Death Benefit Date, the “EEB Premier amount” is determined as follows:

• If you are 69 or younger on your Open Date, the “EEB Premier amount” will be 45% of the difference between your Account Value and your Adjusted Purchase Payments, up to a cap. The cap is 100% of (a) the Adjusted Purchase Payments made prior to your death minus (b) any Purchase Payments made in the twelve months prior to your death but not within your first Account Year.

• If you are between the ages of 70 and 79 on your Open Date, the “EEB Premier amount” will be 25% of the difference between your Account Value and your Adjusted Purchase Payments, up to a cap. The cap is 40% of (a) the Adjusted Purchase Payments made prior to your death minus (b) any Purchase Payments made in the twelve months prior to your death but not within your first Account Year. In addition, on the Account Anniversary following your 85th birthday, the “EEB Premier amount” will be locked in. Partial withdrawals, whether before or after your 85th birthday, will proportionally reduce the “EEB Premier amount.”

Example:

Assume a Purchase Payment of $60,000 is made on the Issue Date, and an additional Purchase Payment of $40,000 is made one year later. Assume that all of the money is invested into the Sub-Accounts, no withdrawals are made and the Account Value on the Death Benefit Date is $135,000. The value of the Purchase Payments accumulated at 5% until the Death Benefit Date is $145,000. In addition, this Contract was issued prior to the owner’s 70th birthday. Assume death occurs in Account Year 9. The calculation of the Death Benefit to be paid is as follows:

The Death Benefit Amount will be the greatest of:
Account Value	=	$	135,000
Cash Surrender Value*	=	$	135,000
Total of Adjusted Purchase Payments	=	$	100,000
5% Premium Roll-up Value	=	$	145,000
The Death Benefit Amount would therefore	=	$	145,000

- PLUS -

The EEB Premier amount, calculated as follows:
Account Value before EEB minus
Adjusted Purchase Payments	=	$	35,000
45% of the above amount	=	$	15,750
Cap of 100% of Adjusted Purchase Payments	=	$	100,000
The lesser of the above two amounts = the EEB Premier amount	=	$	15,750

The total Death Benefit would be the amount paid on the 5% Roll-Up death benefit plus the EEB Premier amount = $145,000 + $15,750 = $160,750.

* Cash Surrender Value is the amount we would pay you if you surrendered your entire Account Value. For a description of how Cash Surrender Value is calculated, see “Full Withdrawals” under the subheading “Cash Withdrawals.”

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APPENDIX D - CALCULATION FOR PURCHASE PAYMENT INTEREST

Example 1:

If you select Option A, the 2% Five-Year Anniversary Interest Option, we will credit your Contract with 2% of each Purchase Payment received during the first Account Year. In addition, on each Fifth-Year Anniversary, we will add to your Contract a credit equal to 2% of your Account Value at that time. For the example below, assume an initial Purchase Payment of $100,000 is made on the Issue Date. The values shown in the last column (“Prior Year Anniversary Account before Purchase Payment Interest is added”) are assumptions used to illustrate fluctuations in investment performance of the underlying funds.

Account Year		Purchase Payments		Purchase Payment Interest		Prior Year Anniversary Account Value before Purchase Payment Interest is added
(a)	1	$	100,000	$	2,000		0
(b)	1	$	20,000	$	400		0
	2		0		0	$	123,500
	3		0		0	$	117,325
	4		0		0	$	131,404
(c)	5	$	40,000		0	$	157,685
(d)	6		0	$	4,200	$	210,000
	7		0		0	$	191,299
	8		0		0	$	185,104
	9		0		0	$	170,104
	10		0		0	$	167,430
(e)	11		0	$	3,500	$	175,000

(a) Initial Purchase Payment of $100,000 will result in a 2% Purchase Payment Interest credit of $2,000 (0.02 x $100,000). The Purchase Payment Interest is allocated to the Sub-Accounts and/or the Guarantee Periods in the same proportion as the Net Purchase Payment is allocated.

(b) An additional Purchase Payment of $20,000 in the first Account Year will result in a 2% Purchase Payment Interest credit of $400 (0.02 x $20,000). The Purchase Payment Interest is allocated to the Sub-Accounts and/or the Guarantee Periods in the same proportion as the Net Purchase Payment is allocated.

(c) An additional Purchase Payment of $40,000 in the fifth Account Year does not result in any Purchase Payment Interest , because the Payment did not occur during the first Account Year. Suppose the additional Purchase Payment of $40,000 is allocated to a Guarantee Period and subsequent transfers from the Guarantee Period are allocated to two variable Sub-Accounts equally.

(d) At the end of Account Year 5, suppose the Account Value had increased to $210,000 due to positive investment performance of the underlying Funds. (The Account Value in the DCA program is $10,000 and the Variable Account Value is $200,000, which represents $102,000 in Sub-Account A and $98,000 Sub-Account B.) On the Fifth-Year Anniversary (i.e., at the end of year 5), a credit of $4,200 (0.02 x $210,000) is added to each Sub-Account in the same proportion as each Sub-Account is invested in the total Variable Account Value and is reflected at the beginning of Account Year 6 in the table above. Because 51% of the Variable Account Value (i.e., $102,000 ÷ $200,000) is invested in Sub-Account A, that same percentage of the Purchase Payment Interest (i.e., 0.51 x $4,200 = $2,142) is added to Sub-Account A. Likewise, because 49% of the total Variable Account Value ($98,000 ÷ $200,000) is invested in Sub-Account B, that same percentage of the Purchase Payment Interest (i.e., 0.49 x $4,200 = $2,058) is added to Sub-Account B.

(e) At the end of Account Year 10, a Fifth-Year Anniversary, suppose the Account Value is $175,000 ($0 in the DCA program, $91,000 in Sub-Account A, and $84,000 in Sub-Account B) due to the investment performance of the underlying Funds. On the tenth Account Anniversary (i.e., at the end of year 10), a credit of $3,500 (0.02 x $175,000) is added to the variable Sub Accounts and is reflected at the beginning of Account Year 11 in the table above. $1,820 (0.52 x $3,500) is added to Sub-Account A and $1,680 (0.48 x $3,500) is added to Sub-Account B.

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This 2% Purchase Payment Interest credit will be added on each Fifth-Year Anniversary thereafter (i.e., at the end of 5^th, 10^th, 15^th, etc. Account Years) based on the Account Value at that time.

Option A will generally result in higher Purchase Payment Interest if you plan to hold your Contract for a longer period of time (e.g., 10 years or more).

Example 2: Option B

If you select Option B, the 5% Interest Option, we will add to your Contract a credit equal to 5% of each Purchase Payment. For the example below, assume an initial Purchase Payment of $100,000 is made on the Issue Date.

Account Year		Purchase Payments		Purchase Payment Interest
(a)	1	$	100,000	$	5,000
(b)	1	$	20,000	$	1,000
	2		0		0
	3		0		0
(c)	4	$	40,000	$	2,000
	5		0		0
	6		0		0
	7		0		0
	8		0		0
	9		0		0
	10		0		0
	11		0		0

(a) An Initial Purchase Payment of $100,000 will result in a 5% Purchase Payment Interest credit of $5,000 (0.05 x $100,000). The Purchase Payment Interest is allocated to the Sub-Accounts and/or the Guarantee Periods in the same proportion as the Net Purchase Payment is allocated.

(b) An additional Purchase Payment of $20,000 in the first Account Year will result in a Purchase Payment Interest credit of $1,000 (0.05% x $20,000). The Purchase Payment Interest is allocated to the Sub-Accounts and/or the Guarantee Periods in the same proportion as the Net Purchase Payment is allocated.

(c) Suppose an additional Purchase Payment of $40,000 is made in the fourth Account Year. This Purchase Payment will result in a credit of $2,000 (0.05 x $40,000). The Purchase Payment Interest is allocated to the Sub-Accounts and/or the Guarantee Periods in the same proportion as the Net Purchase Payment is allocated.

Option B will generally result in higher Purchase Payment Interest if you only plan to hold your Contract for a shorter period of time (e.g., less than 10 years).

Note that if you purchased your Contract between August 24, 2008, and August 17, 2009, Option B credited interest at a rate of 6% of each Purchase Payment.

Note that if you purchased your Contract between July 24, 2006, and August 23, 2008, Option B credited interest at a rate of 5% of each Purchase Payment.

Prior to July 24, 2006, Option B credited interest at various rates, depending upon the size of your Net Purchase Payments, as shown in the following scale:

Net Purchase Payments less than $100,000.00 received	3%
Net Purchase Payments between $100,000.00 through $499,999.99 received	4%
Net Purchase Payments greater than or equal to $500,000.00 received	5%

Prior to July 24, 2006, if you chose Option B, an additional credit may have been paid at the end of your first Account Anniversary. If your Net Purchase Payments at the end of your first Account Year are greater than or equal to

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$100,000, but less than $500,000, and some of your Net Purchase Payment(s) received a credit of 3% (rather than 4%), then an additional 1% will be paid on the amount of Net Purchase Payments that received the 3% credit. Similarly, if your Net Purchase Payments at the end of your first Account Year are greater than or equal to $500,000 and some of your Purchase Payment(s) received a credit of either 3% or 4% (rather than 5%), then an additional 2% or 1% will be paid on the amount of Net Purchase Payments that received a 3% credit or a 4% credit, respectively.

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APPENDIX E - CALCULATION OF FREE WITHDRAWAL AMOUNT

In the first Account Year, your free withdrawal amount is equal to 10% of all Purchase Payments you have made less any withdrawals previously taken that were not subject to withdrawal charges. For all other Account Years, the free withdrawal amount is equal to the greater of:

(1) - Contract earnings during the prior Account Year minus all withdrawals taken during the current Account Year that were not subject to withdrawal charges; and

(2) - 10% of the amount of all Purchase Payments you have made during the last seven Account Years, including the current Account Year, minus all withdrawals taken during the current Account Year that were not subject to withdrawal charges.

For Example 1 below, assume an initial Purchase Payment of $100,000 is made on the Issue Date and Purchase Payment Interest Option A (2% Five-Year Anniversary Interest Option) is chosen.

Example 1:

Account Year		Purchase Payments		Purchase Payment Interest		Prior Anniversary Account Value		Prior Account Year Earnings (#1 Above)		10% of Purchase Payments (#2 Above)		Free Amount before Withdrawal		Amount of Withdrawals		Cumulative Withdrawals this Year not Subject to Withdrawal Charges		Remaining Free Withdrawal Amount after Withdrawal
	1	$	100,000	$	2,000		0		0	$	10,000	$	10,000		0		0	$	10,000
(a)	1	$	20,000	$	400		0		0	$	12,000	$	12,000		0		0	$	12,000
(b)	2		0		0	$	133,200	$	13,200	$	12,000	$	13,200		0		0	$	13,200
	3		0		0	$	146,520	$	13,320	$	12,000	$	13,320		0		0	$	13,320
	4		0		0	$	160,000	$	13,480	$	12,000	$	13,480		0		0	$	13,480
(c)	5		0		0	$	173,000	$	13,000	$	12,000	$	13,000	$	13,000	$	13,000		0
(d)	5	$	40,000		0	$	173,000		0	$	3,000	$	3,000		0	$	13,000	$	3,000
	5		0		0	$	173,000		0	$	3,000	$	3,000		0	$	13,000	$	3,000
(e)	6		0		0	$	210,000	$	10,000	$	16,000	$	16,000		0		0	$	16,000
(f)	6		0	$	4,200	$	214,200	$	14,200	$	16,000	$	16,000		0		0	$	16,000
	7		0		0	$	216,342	$	2,142	$	16,000	$	16,000		0		0	$	16,000
(g)	8		0		0	$	219,587	$	3,245	$	4,000	$	4,000		0		0	$	4,000
(h)	8	$	20,000		0	$	219,587	$	3,245	$	6,000	$	6,000		0		0	$	6,000
(i)	8		0		0	$	219,587	$	3,245	$	6,000	$	6,000	$	6,000	$	6,000		0

(a) A $20,000 additional Purchase Payment was made during Account Year 1, an additional credit (Purchase Payment Interest) of $400 (0.02 x $20,000) was immediately credited to the Account Value on the date the Purchase Payment was made.

(b) In Account Year 2, the prior Account Year earnings equal $13,200 ($133,200 - $120,000). (This amount includes any Purchase Payment Interest credited in Account Year 1.) These earnings are greater than 10% of all Purchase Payments made in the last seven Account Years (0.10 x [$100,000 + $20,000] = $12,000).

(c) At the beginning of Account Year 5, a request for the entire free withdrawal amount is made. The prior Account Year earnings of $13,000 are greater than 10% of all Purchase Payments made in the last seven Account Years (0.10 x [$100,000 + $20,000] = $12,000) and, therefore, $13,000 is withdrawn from the Account and the remaining free withdrawal amount is reduced to $0.

(d) Later in Account Year 5, an additional Purchase Payment of $40,000 is made and the free withdrawal amount is immediately recalculated. (No Purchase Payment Interest is credited at that time because the Purchase Payment was made after the first Account Year.) Because the prior Account Year earnings were withdrawn, those earnings equal $0 and are less than 10% of Purchase Payments. As a result, the new free withdrawal amount is $3,000 ([0.10 x ($100,000 + $20,000 + $40,000)] - $13,000).

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(e) At the beginning of Account Year 6 (end of Account Year 5), the Account Value is $210,000.

(f) At the beginning of Account Year 6, Purchase Payment Interest of $4,200 is credited based upon the Account Value at the end of Account Year 5 (0.02 x $210,000). (This is the first Fifth-Year Anniversary in which Purchase Payment Interest is credited based on the Account Value.) As a result, the Account Value is increased to $214,200 ($210,000 + $4,200).

(g) At the beginning of Account Year 8, the free withdrawal amount is $4,000, which represents 10% of Purchase Payments made in the last seven Account Years (0.10 x $40,000). (Purchase Payments made in the last seven Account Years would include the $40,000 paid in Account Year 5, but would not include the $120,000 of Purchase Payments made in the first Account Year, because those Payments were made more than seven Account Years ago. In addition, no Purchase Payment Interest is credited in Account Year 8 because it is not a Fifth-Year Anniversary.) The $4,000 is greater than the prior Account Year Contract earnings of $3,245 ($219,587 - $216,342).

(h) Later in Account Year 8, an additional Purchase Payment of $20,000 is made and the free withdrawal amount is immediately recalculated. The new free withdrawal amount is $6,000 (0.10 x [$40,000 + $20,000]), which exceeds the prior Account Year Contract earnings ($3,245).

(i) Subsequently, in Account Year 8, a withdrawal of $6,000 is taken which reduces the free withdrawal amount to $0.

For Example 2 below, assume an initial Purchase Payment of $100,000 is made on the Issue Date and Purchase Payment Interest Option B (5% Interest Option) is chosen.

Example 2:

Account Year		Purchase Payments		Purchase Payment Interest		Prior Anniversary Account Value		Prior Account Year Earnings (#1 Above)		10% of Purchase Payments (#2 Above)		Free Amount before Withdrawal		Amount of Withdrawals		Cumulative Withdrawals this Year not Subject to Withdrawal Charges		Remaining Free Withdrawal Amount after Withdrawal
	1	$	100,000	$	5,000		0		0	$	10,000	$	10,000		0		0	$	10,000
	2		0		0	$	115,500	$	15,500	$	10,000	$	15,500		0		0	$	15,500
(a)	3	$	20,000	$	1,000	$	127,050	$	11,550	$	12,000	$	12,000		0		0	$	12,000
(b)	4		0		0	$	161,755	$	14,705	$	12,000	$	14,705	$	14,705	$	14,705		0
(c)	4	$	40,000	$	2,000	$	161,755		0	$	1,295	$	1,295		0	$	14,705	$	1,295
	5		0		0	$	188,921	$	1,871	$	16,000	$	16,000		0		0	$	16,000
	6		0		0	$	179,474		0	$	16,000	$	16,000		0		0	$	16,000
	7		0		0	$	181,269	$	1,795	$	16,000	$	16,000		0		0	$	16,000
(d)	8		0		0	$	184,894	$	3,625	$	6,000	$	6,000		0		0	$	6,000
(e)	8	$	20,000	$	1,000	$	184,894	$	3,625	$	8,000	$	8,000		0		0	$	8,000
(f)	8		0		0	$	184,894	$	3,625	$	8,000	$	8,000	$	8,000	$	8,000		0

(a) A $20,000 Purchase Payment was made during Account Year 3, an additional credit (Purchase Payment Interest) of $1,000 (0.05 x $20,000) was immediately credited to the Account Value on the date the Purchase Payment was made.

(b) At the beginning of Account Year 4, a request for the entire free withdrawal amount is made. The prior Account Year earnings of $14,705 (including Purchase Payment Interest credited in Account Year 3) are greater than 10% of all Purchase Payments made in the last seven Account Years (0.10 x [$100,000 + $20,000] = $12,000) and, therefore, $14,705 is withdrawn from the Account and the remaining free withdrawal amount is reduced to $0.

(c) Later in Account Year 4, an additional Purchase Payment of $40,000 and an additional credit (Purchase Payment Interest) of $2,000 (0.05 x $40,000) are made, and the free withdrawal amount is immediately recalculated. Because the prior Account Year earnings were withdrawn, the new free withdrawal amount is based on 10% of Purchase Payments and equals $1,295 ([0.10 x ($100,000 + $20,000 + $40,000)] - $14,705).

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(d) At the beginning of Account Year 8, the free withdrawal amount is $6,000, which represents 10% of Purchase Payments made in the last seven Account Years (0.10 x [$40,000 + $20,000]). (Purchase Payments made in the last seven Account Years would include the $20,000 paid in Account Year 3 and the $40,000 paid in Account Year 4, but would not include the $100,000 initial Purchase Payment because that Payment was made more than seven Account Years ago.) The $6,000 is greater than the prior Account Year Contract earnings of $3,625 ($184,894 - $181,269).

(e) Later in Account Year 8, an additional Purchase Payment of $20,000 and an additional credit (Purchase Payment Interest) of $1,000 (0.05 x $20,000) are made, and the free withdrawal amount is immediately recalculated. The new free withdrawal amount is based on 10% of Purchase Payments and equals $8,000 (0.10 x [$20,000 + $40,000 + $20,000]), which exceeds the prior Account Year Contract earnings ($3,625).

(f) Subsequently, in Account Year 8, a withdrawal of $8,000 is taken which reduces the free withdrawal amount to $0.

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APPENDIX F - PREVIOUSLY AVAILABLE INVESTMENT OPTIONS

The current available variable investment options are those listed on the cover page of the prospectus.

If you purchased your Contract before February 2, 2004, you may make subsequent Purchase Payments and transfers into the following investment options that were available for investment prior to that date:

International/Global Equity Fund

MFS^® Global Growth Portfolio, Service Class

Real Estate Equity Fund

MFS^® Global Real Estate Portfolio, Initial Class

Multi- Sector Bond Fund

MFS^® Strategic Income Portfolio, Service Class

Massachusetts Financial Services Company advises the MFS^® Portfolios.

If you purchased your Contract before March 5, 2007, you may make subsequent Purchase Payments and transfers into the following investment options that were available for investment prior to that date:

Large-Cap Equity Funds

Columbia Variable Portfolio - Large Cap Growth Fund Class 1¹

MFS^® Massachusetts Investors Growth Stock Portfolio, Service Class

MFS^® Blended Research^® Core Equity Portfolio, Service Class

CTIVP^SM - Loomis Sayles Growth Fund, Class 1¹

International/Global Equity Fund

MFS^® Global Research Portfolio, Service Class

Small-Cap Equity Fund

Invesco Oppenheimer V.I. Main Street Small Cap Fund^®, Series II²

¹  Only available if you purchased your Contract through a Bank of America representative.

²  Formerly known as Oppenheimer Main Street Small Cap Fund^®/VA.

Columbia Management Investment Advisers, LLC, advises the Columbia Variable Portfolios (CTIVP^SM - Loomis Sayles Growth Fund sub-advised by Loomis, Sayles & Company). Invesco Advisers, Inc. advises the Invesco Oppenheimer V.I. Main Street Small Cap Fund^®. Massachusetts Financial Services Company advises the MFS^® Portfolios.

If you purchased your Contract from a Bank of America representative before April 22, 2007, you may make subsequent Purchase Payments and transfers into the following investment options that were available for investment prior to that date:

Mid-Cap Equity Fund

Wanger Select³

Small-Cap Equity Funds

Wanger USA³

Columbia Variable Portfolio - Small Cap Value Fund, Class 2

³  These funds do not have different share classes.

Columbia Management Investment Advisers, LLC advises the Columbia Variable Portfolio - Small Cap Value Fund. Columbia Wanger Asset Management, LLC advises Wanger USA and Wanger Select.

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If you purchased your Contract before March 10, 2008, you may make subsequent Purchase Payments and transfers into the following investment options that were available for investment prior to that date:

Large-Cap Equity Fund

MFS^® Value Series, Initial Class

International/Global Equity Fund

Templeton Foreign VIP Fund, Class 2

Emerging Markets Equity Fund

Templeton Developing Markets VIP Fund, Class 2

Mid-Cap Equity Fund

MFS^® Mid Cap Value Portfolio, Initial Class

Short-Term Bond Fund

MFS^® Limited Maturity Portfolio, Initial Class

Massachusetts Financial Services Company, advises the MFS^® Portfolios and the MFS^® Series. Templeton Asset Management Ltd. advises the Templeton Developing Markets VIP Fund. Templeton Investment Counsel, LLC advises the Templeton Foreign VIP Fund.

If you purchased your Contract before October 20, 2008, you may make subsequent Purchase Payments and transfers into the following investment options that were available for investment prior to that date:

Large-Cap Equity Fund

Invesco Oppenheimer V.I. Main Street Fund^®, Series II³

International/Global Equity Fund

AB International Value Portfolio, Class B²

Target Date Fund

Fidelity^® Freedom 2010 Portfolio, Service Class 2 (of Variable Insurance Products Fund IV)¹

Intermediate-Term Bond Fund

PIMCO Total Return Portfolio, Administrative Class

Inflation-Protected Bond Fund

PIMCO Real Return Portfolio, Administrative Class

¹  This is a Fund of Funds option and expenses of the Fund include the Fund level expenses of the underlying Funds as well. The Fund may be more expensive than Funds that do not invest in other Funds.

²  Not available for investment if you purchased your Contract through a Bank of America representative between April 25, 2005 and April 20, 2007.

³  Formerly known as Oppenheimer Main Street Fund^®/VA.

AllianceBernstein L.P. advises the AB International Value Portfolio. FMR Co., Inc. advises the Fidelity^® Freedom 2010 Portfolio (of Variable Insurance Products Fund IV). Pacific Investment Management Company LLC advises the PIMCO Portfolios. Invesco Advisers, Inc. advises the Invesco Oppenheimer V.I. Main Street Fund^®.

If you purchased your Contract before February 17, 2009, you may make subsequent Purchase Payments and transfers into the following investment option that was available for investment prior to that date:

Asset Allocation Fund

Franklin Allocation VIP Fund, Class 2⁴

⁴  This is a Fund of Funds option and expenses of the Fund include the Fund level expenses of the underlying Funds as well. The Fund may be more expensive than Funds that do not invest in other Funds. Not available for investment if you purchased your Contract through a Bank of America representative between April 25, 2005 and April 20, 2007.

Franklin Templeton Services, LLC administers the Franklin Allocation VIP Fund (with the following advising the underlying portfolios of the fund: Franklin Advisers, Inc. advising the Franklin Income VIP Fund, Franklin Mutual Advisers, LLC advising the Franklin Mutual Shares VIP Fund and Templeton Global Advisers Limited advising the Templeton Growth VIP Fund).

If you purchased your Contract before August 17, 2009, you may make subsequent Purchase Payments and transfers into the following investment option that was available for investment prior to that date:

Asset Allocation Fund

Invesco Oppenheimer V.I. Conservative Balanced Fund, Series II⁵

⁵  Formerly known as Oppenheimer Conservative Balanced Fund/VA.

Invesco Advisers, Inc. advises the Invesco Oppenheimer V.I. Conservative Balanced Fund.

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APPENDIX G - SECURED RETURNS FOR LIFE

The following information applies to your Contract if you elected to participate in Secured Returns for Life (“Secured Returns for Life,” “Benefit,” or “the rider”) and did not replace it with Secured Returns for Life Plus, which was available for such replacements for a limited period of time beginning in April 2006. Secured Returns for Life is no longer available for sale on new Contracts. Since we are no longer offering Secured Returns for Life to new Owners, renewals are no longer available.

Secured Returns for Life guarantees a return of your initial Purchase Payment (adjusted for subsequent Purchase Payments and withdrawals) during the accumulation period, regardless of the investment performance of the Designated Funds, provided that you comply with certain requirements. The amount guaranteed can be greater than or less than your Account Value. The guaranteed amount can be paid out under a Guaranteed Minimum Accumulation Benefit (“AB”) Plan, which provides for a return of your guaranteed amount on the AB Plan Maturity Date, or a Guaranteed Minimum Withdrawal Benefit (“WB”) Plan, which provides for a return of your guaranteed amount through periodic withdrawals or, if you meet certain conditions, payments for life. Upon annuitization, Secured Returns for Life and any elected optional death benefit automatically terminate. (You should note that the benefit does not, in all cases, guarantee payments “for Life.” Certain actions you take may reduce, and even terminate, your benefit, including reducing your Account Value to zero and thereby terminating your Contract without value.)

We use the following definitions to describe how Secured Returns for Life works:

AB Plan Maturity Date:	The date when the AB Plan matures which is on the 10th Account Anniversary, or if you elect to “step-up” your guaranteed values under the rider, 10 years from the date of the most recent step-up.
Guaranteed Living Benefit Amount (the “GLB amount”):	The minimum amount guaranteed under the Contract while you are participating in the AB Plan. The GLB amount is initially equal to your initial Purchase Payment, which is adjusted for any subsequent Purchase Payments, step-ups, and partial withdrawals. The GLB amount is also used to set the GLB Base, Lifetime Income Base, and RGLB amount on the date you elect the WB Plan.
Guaranteed Living Benefit Base (the “GLB Base”):	A value equal to the RGLB amount on the date you elect to participate in the WB Plan. The GLB Base is adjusted later for any subsequent Purchase Payments, step-ups, and partial withdrawals. The GLB Base is used to establish the Maximum WB Amount.
Lifetime Income Base:	A value equal to the RGLB amount on the later of the date you elect to participate in the WB Plan if you are age 60 or older and the first Account Anniversary after your 59th birthday. The Lifetime Income Base is adjusted later for any subsequent Purchase Payments, step-ups, and partial withdrawals. The Lifetime Income Base is used to establish the Maximum WB for Life Amount.
Maximum WB Amount:	The maximum guaranteed amount available for annual withdrawal until your RGLB amount has been reduced to zero. The annual Maximum WB Amount is equal to 5% of the GLB Base.

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Maximum WB For Life Amount:

The maximum guaranteed amount available for annual withdrawal during your lifetime. The Maximum WB for Life Amount is equal to 4% or 5% of the current Lifetime Income Base depending upon the age of the Participant on the date of the first withdrawal under the WB Plan or most recent Step-Up Date. If your Contract is co-owned, the age of the oldest co-owner will be used to determine the Maximum WB for Life Amount. (You should be aware that the Maximum WB for Life Amount is not a guaranteed amount. Certain actions you take could reduce the value of your Maximum WB for Life Amount to zero.)

Remaining Guaranteed Living Benefit (the “RGLB amount”):

If you elect the WB Plan, the minimum amount guaranteed under the Plan. The RGLB amount equals the GLB amount on the date you choose to participate in the WB Plan. This amount will be adjusted for subsequent Purchase Payments, step-ups, and partial withdrawals.

To participate in Secured Returns for Life, all of your Account Value must be invested in a Designated Funds at all times during the term of the GMAB Maturity Date. See “DESIGNATED FUNDS” in the Prospectus to which this Appendix is attached.

When you elected to participate in Secured Returns for Life, you were automatically enrolled in the AB Plan. At any time, you may elect instead, to receive your benefit under the WB Plan, provided that you make the election prior to the earliest of the Contract’s Maximum Annuity Commencement Date, the date you annuitize, and the date your AB Plan matures. Once you elect to participate in the WB Plan, you may not change your election to the AB Plan. If you do not specifically elect the WB Plan, you will be deemed to have elected to remain in the AB Plan.

Guaranteed Minimum Accumulation Benefit (“AB”) Plan

Under its terms, the AB Plan matures on the AB Plan Maturity Date. On that date, we will credit your Account Value with any excess of your GLB amount over your Account Value after adjusting for any Contract charges or credits. Any such amount will be allocated to the Designated Fund in which you are invested at that time.

Your GLB amount is equal to the sum of 100% of your initial Purchase Payment plus a specified percentage of any subsequent Purchase Payments, adjusted in amount for step-ups (described in this Appendix under “Step-Up”) and partial withdrawals. If you make one or more subsequent Purchase Payments during the 10-year period, the period will not restart. Rather, the percentage of guaranteed return for each subsequent Purchase Payment after the second Account Anniversary will be reduced depending upon the Account Year in which it was made, as follows:

Account Year in which Purchase Payment was  made	Percentage added to the GLB amount
1 - 2	100%
3 - 5	85%
6 - 8	70%
9 - 10	60%

Note that the timing and amount of subsequent Purchase Payments and withdrawals may significantly decrease, and even terminate, the total Secured Returns for Life Benefit, including reducing your Account Value to zero and thereby terminating your Contract without value.

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If your Account Value is greater than your GLB amount on the AB Plan Maturity Date, we will credit your Account Value with an amount equal to the charges you paid for Secured Returns for Life. For examples of how we calculate benefits under the AB Plan, see Examples 1 through 3 in this Appendix.

If you die while participating in the AB Plan, all benefits and charges under Secured Returns for Life will automatically terminate when we receive Due Proof of Death, unless your surviving spouse is the sole Beneficiary and elects to continue the Contract. In that case, your surviving spouse has two options under the Contract.

• Your spouse can automatically continue in the AB Plan even though the Account Value may have been enhanced under the provisions of the death benefit. (See “Spousal Continuance” under “DEATH BENEFIT” in the Prospectus to which this Appendix is attached.) The charges under Secured Returns for Life will be assessed against the enhanced Account Value. The GLB amount, however, will not be reset.

• Your surviving spouse can elect to switch to the WB Plan; however, such election must be made prior to the earliest of annuitization, the Maximum Annuity Commencement Date, and the scheduled AB Plan Maturity Date. The same WB Plan benefits will apply, except the surviving spouse will not be entitled to receive lifetime withdrawal benefits under the original optional living benefit rider.

If the Contract is not continued by your surviving spouse following your death while participating in the AB Plan, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Guaranteed Minimum Withdrawal Benefit (“WB”) Plan

Under the terms of the WB Plan, you are guaranteed a return of your RGLB amount, even if your Account Value becomes zero. Each Account Year, during which the WB Plan is in effect, you can withdraw up to your Maximum WB Amount until your RGLB amount has been depleted. Once the RGLB amount is reduced to zero, your GLB Base is permanently set to zero as well. However, if you exceed your Maximum WB Amount in any one Account Year, your RGLB and future guaranteed withdrawals will be reduced in the manner described under “Withdrawals Under Secured Returns for Life.”

The WB Plan also guarantees that, if you have chosen the WB Plan and if you are age 60 or older, you can withdraw up to your Maximum WB for Life Amount every Account Year that you are alive, even if your Account Value has been depleted. If you are younger than age 60, you may withdraw up to your Maximum WB for Life Amount every Account Year after your first Account Anniversary following your 59th birthday. If you exceed your Maximum WB for Life Amount in any one Account Year, the amount of your subsequent guaranteed lifetime withdrawals will be reduced in the manner discussed under “Withdrawals Under Secured Returns for Life.”

Your Maximum WB Amount is a set dollar amount equal to 5% of your GLB Base. On the day you elect to participate in the WB Plan, we set your RGLB amount to equal your GLB amount as described under Guaranteed Minimum Accumulation Benefit (“AB”) Plan. Your GLB Base also is set equal to the RGLB amount on the date you elect to participate in the WB Plan. This value is used to determine your Maximum WB Amount as discussed further below.

To calculate your Maximum WB for Life Amount, we must first determine your Lifetime Income Base. The Lifetime Income Base is an amount equal to the RGLB amount on:

• the date you elected to participate in the WB Plan if you are age 60 or older on that date, or

• your first Account Anniversary after your 59th birthday, if you are 59 or younger on the date you elect to participate in the WB Plan.

The Maximum WB for Life Amount will then be calculated, based upon your age on the date of the first withdrawal under the WB Plan, as follows:

Your Age on Date of First Withdrawal under WB Plan	Maximum WB for Life Amount
65 or older	5% of the Lifetime Income Base
64 or younger	4% of the Lifetime Income Base

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You are not required to make any withdrawals after you have elected the WB Plan; however, each time you make a withdrawal, we determine whether the withdrawal has exceeded the Maximum WB Amount, the Maximum WB for Life Amount, or both. If you have exceeded the Maximum WB Amount or the Maximum WB for Life Amount, we determine the new maximum amount(s) for future withdrawals. In any one Account Year, withdrawals in excess of your Maximum WB Amount or your Maximum WB for Life Amount may reduce or eliminate your future guaranteed withdrawals, possibly reducing the guaranteed minimum withdrawal benefit to an amount less than the sum of your Purchase Payments. (See “Withdrawals Under Secured Returns for Life.”)

Provided your RGLB amount and Account Value have not been reduced to zero, any Purchase Payment made after you have elected the WB Plan, and before your fourth Account Anniversary, will increase your RGLB amount, your GLB Base, and your Lifetime Income Base each by 100% of such Purchase Payment. Therefore, your Maximum WB Amount will equal 5% of your new GLB Base. Your Maximum WB for Life Amount will equal 4% or 5% of your new Lifetime Income Base, depending upon your age on the date of your first withdrawals under the WB Plan as shown in the above chart or your most recent “Step-Up Date,” described in this Appendix under “Step-Up.”

Under the WB Plan, after your fourth Account Anniversary, you may not make any additional Purchase Payments unless your benefit under the rider has been cancelled, terminated, or revoked. For examples of how we calculate benefits under the WB Plan, see Examples 4, 5, and 6 in this Appendix.

If you die while participating in the WB Plan, your Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract or, alternatively, to receive the Maximum WB Amount on an annual basis until the RGLB amount has been reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted under Federal Tax Laws, the RGLB amount must be fully distributed by December 31^st of the tenth year after your death.) If your surviving spouse is the sole Beneficiary and elects to continue the Contract, your surviving spouse can automatically continue to participate in the WB Plan, but lifetime withdrawal benefits will not be available to your spouse. All other benefits under the WB Plan will continue, for your surviving spouse, even though the Account Value may have been enhanced under the provisions of the death benefit. (See “Spousal Continuance” under “DEATH BENEFIT” in the Prospectus to which this Appendix is attached.) The charges under Secured Returns for Life will be assessed against the enhanced Account Value. The RGLB amount, however, will not be reset.

Cost of Secured Returns for Life

Unlike other Contract charges, the charge for Secured Returns for Life will not be calculated as a percentage of average daily net assets as described under “Variable Accumulation Unit Value.” Instead, the charge for the Benefit will be made as a specific deduction from the Account Value, taken on the last valuation day of the Account Quarter. The charge per year for Secured Returns for Life is currently equal to 0.50% of your Account Value. The quarterly charge will be determined by multiplying the Account Value at the end of the Account Quarter by 0.00125. (See Example 7 in this Appendix.) The specific amount of the quarterly charge will be reflected on your quarterly account statement.

We will continue to deduct this charge until:

• you annuitize; or

• under the provisions of Secured Returns for Life;

• your benefit matures;

• your benefit is revoked; or

• your RGLB amount and your Lifetime Income Base are both reduced to zero under the WB Plan.

Cancellation of the Benefit (caused by a transfer out of the Designated Fund, a Purchase Payment allocation to a non-Designated Fund, or an assignment) will not terminate the charge until the 7th Account Anniversary.

Withdrawals Under Secured Returns for Life

All withdrawals under Secured Returns for Life are subject to withdrawal charges if they are in excess of the annual free withdrawal amount. (See “Free Withdrawal Amount” under “Withdrawal Charge” in the Prospectus to which this

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Appendix is attached.) In addition, any withdrawals you take under Secured Returns for Life will reduce the value of your benefit under . Such withdrawals affect your benefit differently depending upon whether you are participating in the AB Plan or the WB Plan. In either case, however, a withdrawal may reduce the value of the Benefit by an amount greater than the amount withdrawn.

Assume you are participating in the AB Plan. Any withdrawals you make will reduce the dollar value of your benefits under this rider proportionally to the amount withdrawn. For example, after a partial withdrawal, the new GLB amount will equal

old GLB amount	X	Account Value immediately after partial withdrawal
		Account Value immediately before partial withdrawal

Therefore, on your AB Maturity Date, instead of crediting your Account Value with the full amount of your benefit, we will reduce the amount we credit proportionally to the amount withdrawn.

Assume you are participating in the WB Plan and you want to receive the full amount of your guaranteed benefit over a period of years. To maximize your guaranteed benefit, you may withdraw no more than a specified amount each year. In other words, each year, you may withdraw no more than your Maximum WB Amount. Your guaranteed benefit amount (the RGLB amount) will be reduced dollar for dollar, but your Maximum WB Amount will remain unchanged. In other words, you will be able to take the same maximum amount each year until your guaranteed benefit amount is completely withdrawn.

If, however, in any one Account Year, you withdraw more than the current Maximum WB Amount, the dollar value of your guaranteed benefits will be reduced and the amount of each future annual guaranteed withdrawal will be less. Here is how we calculate the benefit reduction. Your new RGLB amount will be the lesser of:

• your previous RGLB amount, reduced dollar for dollar by the amount of the withdrawal, and

• your Account Value after the withdrawal.

Your new GLB Base will be the lesser of:

• your previous GLB Base reduced dollar for dollar by the amount of the excess withdrawal, and

• your Account Value after the withdrawal.

Your new Maximum WB Amount will be 5% of your new reduced GLB Base. Going forward, this will be the maximum amount that you can withdraw annually without further reducing your benefit.

The Maximum WB Amount is not cumulative. If you withdraw less than the Maximum WB Amount in any one Account Year, you cannot add that unused portion to withdrawals made in future years to increase the Maximum WB Amount.

Assume you are participating in the WB Plan and, instead, you want to receive a guaranteed annual amount for the rest of your life. To maximize your guaranteed benefit, you may withdraw no more than a specified amount each year. Under this scenario, you may withdraw no more than your Maximum WB for Life Amount. Your guaranteed benefit amount (the RGLB amount) will be reduced dollar for dollar, but your Maximum WB for Life Amount will remain unchanged. In other words, you will be able to take the same maximum amount each year as long as you are alive, subject to the other terms and conditions described herein.

If, however, in any one Account Year, you withdraw more than the current Maximum WB for Life Amount, the dollar value of your guaranteed benefits will be reduced and the amount of each future annual guaranteed withdrawal will be less. Here is how we calculate the benefit reduction. Your new Lifetime Income Base will be the lesser of:

• your previous Lifetime Income Base reduced dollar for dollar by the amount of the excess withdrawal, and

• the Account Value after the withdrawal.

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A new Maximum WB for Life Amount will be determined based upon your age on the date of the first withdrawal under the WB Plan (or your age on the most recent “Step-Up Date,” if later) as follows:

Your Age on the later of Date of  First Withdrawal under WB Plan or Most Recent Step-Up Date	New Maximum WB for Life  Amount
65 or older	5% of the new Lifetime Income Base
64 or younger	4% of the new Lifetime Income Base

The Maximum WB for Life Amount is not cumulative. That is to say, the unused portion in any Account Year cannot be applied in future years to increase the Maximum WB for Life Amount.

In general when participating in the WB Plan, you should keep the following in mind:

• A withdrawal in excess of the Maximum WB Amount or the Maximum WB for Life Amount might reduce and even terminate your Secured Returns for Life Benefits, including reducing your Account Value to zero and thereby terminating your Contract without value.

• If your Account Value drops to zero and, in the same year, you withdraw more than your Maximum WB Amount or your Maximum WB for Life Amount, your benefits under Secured Returns for Life will terminate and your Contract will terminate without value.

• If your Account Value drops to zero but you did not, in the same year, withdraw more than your Maximum WB Amount or your Maximum WB for Life Amount, your benefits under Secured Returns for Life will continue. However, no subsequent Purchase Payment will be accepted, no death benefit or annuity benefits will be payable, and all benefits under your Contract, except the right to continue annual withdrawals under this rider, will terminate. You will have two choices:

(1) You could choose to receive the Maximum WB for Life Amount, if any, until an Owner dies. In that case, after the death of an Owner, your Beneficiary receives the Maximum WB Amount until the RGLB amount, if any, is reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted under Federal Tax Laws, the RGLB amount must be fully distributed by December 31^st of the tenth year after your death.)

(2) You (or your Beneficiary if an Owner has died) could choose to receive the Maximum WB Amount until the RGLB amount, if any, is reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted under Federal Tax Laws, the RGLB amount must be fully distributed by December 31^st of the tenth year after your death.)

If you do not make a choice, we will default you to option 1.

For examples showing how withdrawals affect your benefits under the WB Plan, see Examples 10, 11, and 12 in this Appendix.

Annuitization Under the WB Plan

Under the WB Plan, if your RGLB Amount and your Account Value are greater than zero on the Maximum Annuity Commencement Date, you may annuitize your Contract rather than receiving periodic payments under the WB plan. If no prior election to annuitize is on file with the Company, on the Maximum Annuity Commencement Date, you may elect to:

• annuitize your Contract;

• surrender your Contract;

• receive the Maximum WB Amount each year until the RGLB amount is reduced to zero; or

• receive the Maximum WB for Life Amount each year until an Owner dies and, thereafter, allow the beneficiary to receive the Maximum WB Amount until the RGLB amount, if any, is reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted

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under Federal Tax Laws, the RGLB amount must be fully distributed by December 31^st of the tenth year after your death.)

Regardless of whether you elect to annuitize, surrender or receive payments under the WB plan, all other Contract benefits, including the Death Benefit, will terminate on the Annuity Commencement Date. If you fail to make an election, we will automatically annuitize your Contract and provide a life annuity with 120 monthly payments certain.

Cancellation and Revocation of Secured Returns for Life

Transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached. If, however, you transfer some or all of your Account Value out of the Designated Fund, Secured Returns for Life will be automatically cancelled. Likewise, if you allocate one or more subsequent Purchase Payments to an investment option other than one of the Designated Funds, Secured Returns for Life will be cancelled. An assignment of ownership of the Contract will also cancel Secured Returns for Life.

Once Secured Returns for Life has been cancelled, it cannot be reinstated. After cancellation, you will continue to pay the annual charge for Secured Returns for Life until your 7th Account Anniversary.

Any time after your 7th Account Anniversary, you may revoke Secured Returns for Life. Once revoked, Secured Returns for Life may not be reinstated. After Secured Returns for Life has been revoked, all benefits and charges will end.

Step-Up

On or after your third Account Anniversary, you may elect to increase your guaranteed amount to your then current Account Value (“step-up”). Currently, this step-up election may be made on any day after your third Account Anniversary. (We reserve the right to require step-up elections to occur only within 30 days following the third or any subsequent Account Anniversary.)

If you are participating in the AB Plan, on the day we receive your step-up election notice in Good Order (the “Step-Up Date”), we will increase your GLB amount to an amount equal to your Account Value on the Step-Up Date. If you elect to step-up, at least 3 full years from the Step-Up Date must pass before you can elect another step-up. You can only elect to step-up if:

• your current Account Value is greater than the current GLB amount, and

• your Account Value is $5,000,000 or less on your Step-Up Date.

If you are participating in the WB Plan on the Step-Up Date, we will step up your GLB Base, your RGLB amount, and your Lifetime Income Base to an amount equal to your Account Value on that date. If you elect to step-up, at least 3 full years from the Step-Up Date must pass before you can elect another step-up. You can only elect to step-up if:

• your current Account Value is greater than the current GLB Base and the current Lifetime Income Base, and

• your Account Value is $5,000,000 or less on your Step-Up Date.

For purposes of determining the above $5,000,000 limits, we reserve the right to aggregate your Account Value with the account values of all other Delaware Life variable annuity contracts you own.

If you are in the AB Plan, your Step-Up Date must be at least 10 years prior to your Maximum Annuity Commencement Date. If you have selected an Annuity Commencement Date that is prior to the Maximum Annuity Commencement Date but is less than 10 years after your Step-Up Date, we will automatically extend your Annuity Commencement Date to equal your AB Plan Maturity Date.

Without a step-up, your benefit under the AB Plan will “mature” on the 10th Account Anniversary (the date we credit your Account with any excess of your GLB amount over your Account Value or refund your Secured Returns for Life charge, i.e. the “AB Plan Maturity Date”). If you elect to step-up your GLB amount, the term of your benefit under the

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AB Plan will change. After you make a step-up election, your benefit under the AB Plan will mature 10 years from the Step-Up Date, unless you elect the WB Plan any time before the AB Plan matures. (See Examples 13, 14, and 15 in this Appendix.)

Following your step-up election, the rider fee will be changed to an amount that may be higher than your current fee as set forth above. The rider fee after the step-up will be set by us, based upon current market conditions, at the time of the step-up. Significant changes in stock market prices, interest rate fluctuations, and competitive industry trends are among the market conditions we consider in whether to change the fee.

If you have been receiving benefits under the WB Plan, a step-up will change your Maximum WB Amount and your Maximum WB for Life Amount. Your Step-Up Date must be a date prior to your Maximum Annuity Commencement Date. After the step-up, your Maximum WB Amount will be 5% of the new GLB Base, and your Maximum WB for Life Amount will be 4% or 5% of your new Lifetime Income Base depending upon your age. If you are 65 or older on the Step-Up Date and your Maximum WB for Life Amount has been equal to 4% of your GLB Base, your Maximum WB for Life Amount will be increased to 5% of your GLB Base. Note that, if you step-up in a particular Account Year, any withdrawals previously made in that Account Year are applied against your new Maximum WB Amount and your new Maximum WB for Life Amount. (See Example 14 in this Appendix.)

If your benefit is under the AB Plan, at the time of step-up, you can still change to the WB Plan at a later date, subject to the applicable age restrictions described under “Guaranteed Minimum Withdrawal Benefit (“WB”) Plan.” (See Examples 14 and 15 in this Appendix.)

Subsequent Purchase Payments After a Step-Up

Under the WB Plan, subsequent Purchase Payments after a step-up will increase, on a dollar for dollar basis, the RGLB amount, the GLB Base, and the Lifetime Income Base. After your fourth Account Anniversary, if you are participating in the WB Plan, subsequent Purchase Payments are not allowed.

Under the AB Plan, after your step-up election, any subsequent Purchase Payment will increase the GLB amount under your AB Plan by a specified percentage of the subsequent Purchase Payment. The percentage guaranteed depends upon the “Step-Up Year” in which the Payment was made. (A “Step-Up Year” is the 365-day period (366, if a leap year) commencing on your Step-Up Date.) The example below illustrates how we determine the percentage guaranteed after a subsequent Purchase Payment:

Assume you purchased a Contract on July 1, 2005, and elected to step-up your Contract on October 1, 2010. Under the AB Plan that you have elected, your benefit matures on October 1, 2020. For any subsequent Purchase Payments you make, your GLB amount would increase by the following percentages of such Purchase Payments:

Step-Up Year	Payments Made Between	Percentage Added to the GLB amount
1	10/02/10 -10/01/11	100%
2	10/02/11 -10/01/12	100%
3	10/02/12 -10/01/13	85%
4	10/02/13 -10/01/14	85%
5	10/02/14 -10/01/15	85%
6	10/02/15 -10/01/16	70%
7	10/02/16 -10/01/17	70%
8	10/02/17 -10/01/18	70%
9	10/02/18 -10/01/19	60%
10	10/02/19 - 10/01/20	60%

Thus, only 70% of a subsequent Purchase Payment made on October 2, 2015, would be guaranteed whereas 85% of a subsequent Purchase Payment made on October 1, 2015, would be guaranteed. It may be disadvantageous for you to make any such Purchase Payments that increase the GLB amount by less than 100% of the payment.

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Refund of Secured Returns for Life Charges Under the AB Plan

If your Contract remains in the AB Plan until the AB Plan Maturity Date, and the Account Value is greater than or equal to the GLB amount, then we will refund the charges you have paid for Secured Returns for Life (“Refund Amount”) by crediting the Refund Amount to your Account Value. The Refund Amount will be allocated to the Designated Fund in which you are invested on such AB Plan Maturity Date. No refund of the Secured Returns for Life rider charges will be made if you change from the AB Plan to the WB Plan.

Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as Secured Returns for Life. When you elect to participate in the WB Plan, we will inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit. To assist you in complying with the RMD requirements, each year, we will notify you in early January of your calculated Yearly RMD Amount and inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit.

In the event that your Yearly RMD Amount attributable to your Contract is greater than the maximum withdrawal amount permitted each year under the WB Plan, we are currently waiving withdrawal provisions under Secured Returns for Life as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in the WB Plan, we reduce your Account Value and your RGLB amount, dollar for dollar, by the amount of the withdrawal. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than either your Maximum WB Amount, or your Maximum WB for Life Amount. In other words, we will not reduce your GLB Base or Lifetime Income Base if a Yearly RMD Amount exceeds either your Maximum WB Amount or your Maximum WB for Life Amount, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

If there is any change to the current Code or IRS rules governing the timing or determination of RMD amounts (including, but not limited to, amendments to the current IRS regulations or the issuance of IRS guidance), then we reserve the right to reduce the GLB Base, Lifetime Income Base, or all of these amounts, per the terms of the rider regarding excess withdrawals, when a Yearly RMD Amount withdrawn from your Contract exceeds either your Maximum WB Amount or your Maximum WB for Life Amount. Notice will be given to Contract Owners before we exercise this right.

If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in the AB Plan, we reduce your Account Value by the amount of the withdrawal and your GLB amount proportionally (see “Withdrawals Under Secured Returns for Life”).

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

ALL OF THE FOLLOWING EXAMPLES ARE BASED UPON THE ASSUMPTION THAT YOU PURCHASED A CONTRACT ON JANUARY 1, 2006 WITH AN INITIAL PURCHASE PAYMENT OF $100,000 AND YOU ELECTED SECURED RETURNS FOR LIFE. YOUR INITIAL GLB AMOUNT EQUALS YOUR PURCHASE PAYMENT AMOUNT OF $100,000.

EXAMPLE 1: Calculation of Benefits under AB Plan.

• Assume that you did not elect the WB plan at any time and that your Designated Fund had low investment performance.

• Assume that on January 1, 2016, your Account Value is $85,000. Assume that your total rider charges to date are $4,625.

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• Because your Account Value is less than your GLB amount by $15,000 [$100,000 - $85,000], an amount equal to $15,000 will be deposited into your Contract.

EXAMPLE 2: Calculation of Benefits under AB Plan with Subsequent Purchase Payments.

• Assume that you did not elect the WB Plan at any time and that your Designated Fund had low investment performance.

• On June 1, 2010, you make an additional $80,000 Purchase Payment.

• Because the subsequent Purchase Payment was made in the fifth Account Year, we guarantee the return of 85% of that Purchase Payment, or $68,000. On June 1, 2010, your GLB amount is $168,000 [$100,000 + ($80,000 x 85%)].

• Assume that on January 1, 2016, your Account Value is $150,000. Assume that your total rider charges to date are $6,725.

• Because your Account Value is less than your GLB amount by $18,000 [$168,000 - $150,000], an amount equal to $18,000 will be deposited into your Contract.

EXAMPLE 3: Calculation of Benefits under AB Plan with Subsequent Purchase Payment; Refund Applies.

• Assume that you did not elect the WB Plan at any time and that your Designated Fund had low investment performance.

• On June 1, 2010, you make an additional $80,000 Purchase Payment.

• Because the subsequent Purchase Payment was made in the fifth Account Year, we guarantee the return of 85% of that Purchase Payment, or $68,000. On June 1, 2010, your GLB amount is $168,000 [$100,000 + ($80,000 x 85%)].

• Assume that on January 1, 2016, your Account Value is $200,000. Assume that your total rider charges to date are $7,500.

• Because your Account Value is greater than your GLB amount by $32,000 [$200,000 - $168,000], your Contract will be credited with an amount equal to the rider charges you have paid [$7,500], increasing your Account Value to $207,500.

EXAMPLE 4: Calculation of Benefits under WB Plan; Lifetime Withdrawals.

• Assume you are age 60 at issue. Also assume that you elect the WB plan on January 1, 2006, and that you choose to systematically withdraw the Maximum WB for Life Amount annually.

• On January 1, 2006:

• Your GLB Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB for Life Amount is $4,000 [4% of your Lifetime Income Base because you are age 60].

• On December 31, 2006, after your first systematic withdrawal of $4,000:

• Your Account Value is reduced by the amount of the withdrawal [$4,000].

• Your GLB amount, reduced by the amount of the withdrawal, is $96,000 [$100,000-$4,000].

• Your GLB Base is still $100,000 because you did not withdraw more than your Maximum WB Amount.

• Your Lifetime Income Base is $100,000 because you did not withdraw more than your Maximum WB for Life Amount.

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• Assume you take only annual systematic withdrawals of $4,000 for a total of 20 years. Assume you make no subsequent Purchase Payments. Assume that, because of poor investment performance of your Designated Fund, your Account Value equals zero. On December 31, 2025:

• Your Account Value equals zero.

• Your GLB amount, reduced by the amount of the total withdrawal, is $20,000 [$100,000-($4,000 x 20)].

• Your GLB Base is still $100,000 because you did not withdraw more than your Maximum WB Amount in any Account Year.

• Your Lifetime Income Base is still $100,000 because you did not withdraw more than your Maximum WB for Life Amount in any Account Year.

Even though your rights under the annuity Contract terminated when the Account Value became zero, we will continue to make payments to you. At this point, however, you must choose between:

(1) withdrawing the Maximum WB for Life Amount each year until an Owner dies or

(2) withdrawing your Maximum WB Amount each year until your GLB amount is reduced to zero.

• Assume you elect to take annual payments of your Maximum WB for Life Amount. On December 31, 2030, when your GLB amount is reduced to zero:

• Your Account Value equals zero.

• Your GLB amount equals zero.

• Your GLB Base equals zero because your GLB amount equals zero.

• Your Lifetime Income Base is still $100,000 because you did not withdraw more than your Maximum WB for Life Amount in any Account Year.

You will continue to receive $4,000 per year as long as you are alive.

EXAMPLE 5: Calculation of Benefits under WB Plan; Early Withdrawals.

• Assume you are age 56 at issue. Also assume that you elect the WB plan on January 1, 2006, and that you choose to systematically withdraw the Maximum WB Amount annually.

• On January 1, 2006:

• Your GLB Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is zero because you have not passed your first Account Anniversary after your 59th birthday

• Your Maximum WB for Life Amount is zero [4% of your Lifetime Income Base].

• On December 31, 2006, after your first systematic withdrawal of $5,000, your Maximum WB Amount:

• Your Account Value is reduced by the amount of the withdrawal [$5,000].

• Your GLB amount, reduced by the amount of the withdrawal, is $95,000 [$100,000-$5,000].

• Your GLB Base is still $100,000 because you did not withdraw more than your Maximum WB Amount.

• Your Lifetime Income Base is zero because you have not passed your first Account Anniversary after your 59th birthday.

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• Assume you take only systematic withdrawals of $5,000 for a total of 3 years. Assume you make no subsequent Purchase Payments. On December 1, 2008, you celebrate your 59th birthday. On January 1, 2009:

• Your Account Value has been reduced by the amount of the total withdrawals [$15,000].

• Your GLB amount, reduced by the amount of the total withdrawal, is $85,000 [$100,000-($5,000 x 3)].

• Your GLB Base is still $100,000 because you did not withdraw more than your Maximum WB Amount in any Account Year.

• Your Lifetime Income Base is set at $85,000 [an amount equal to the GLB amount on your first Account Anniversary after your 59th birthday].

• Your Maximum WB for Life Amount is $3,400 [4% of your Lifetime Income Base because you are less than 65 years old].

• Assume you elect to take only annual systematic withdraws of no more than your Maximum WB for Life Amount [$3,400] for an additional 20 years. Assume you make no subsequent Purchase Payments, and that your Account Value reduces to zero. On December 31, 2028:

• Your Account Value equals zero.

• Your GLB amount, reduced by the amount of the total withdrawals, is $17,000 [85,000 – ($3,400 x 20)].

• Your GLB Base is still $100,000 because you did not withdraw more than the Maximum WB Amount in any Account Year.

• Your Lifetime Income Base is still $85,000 because you did not withdraw more than the Maximum WB for Life Amount in any Account Year.

• Assume you elect to take annual payments of your Maximum WB for Life Amount until your GLB amount is reduced to zero in 2033.

• Your Account Value equals zero.

• Your GLB amount equals zero.

• Your GLB Base equals zero because your GLB amount equals zero.

• Your Lifetime Income Base is still $85,000 because you did not withdraw more than your Maximum WB for Life Amount.

You will continue to receive $3,400 per year as long as you are alive.

EXAMPLE 6: Calculation of Benefits under WB Plan with Subsequent Purchase Payments; Lifetime Withdrawals.

• Assume you are age 60 at issue. Also assume that you elect the WB plan on January 1, 2006, and that you choose to systematically withdraw the Maximum WB for Life Amount annually.

• On January 1, 2006:

• Your GLB Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB for Life Amount is $4,000 [4% of your Lifetime Income Base because you are age 60].

• On December 31, 2006, after your first systematic withdrawal of $4,000:

• Your Account Value is reduced by the amount of the withdrawal [$4,000].

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• Your GLB amount, reduced by the amount of the withdrawal, is $96,000 [$100,000-$4,000].

• Your GLB Base is still $100,000 because you did not withdraw more than your Maximum WB Amount.

• Your Lifetime Income Base is $100,000 because you did not withdraw more than your Maximum WB for Life Amount.

• Assume you take only annual systematic withdrawals of $4,000 for a total of 4 years. Assume you make a subsequent Purchase Payment of $50,000, in your 4th Account Year. Assume also that, immediately before the subsequent Purchase Payment, your Account Value was $80,000. On December 31, 2009:

• Your Account Value equals $130,000 [$80,000 + $50,000].

• Your GLB amount, reduced by the amount of the total withdrawals and increased by the subsequent Purchase Payment, is $134,000 [$100,000 - ($4,000 x 4) + $50,000].

• Your GLB Base, increased by the subsequent Purchase Payment, is $150,000.

• Your Maximum WB Amount is $7,500 [5% of your new GLB Base].

• Your Lifetime Income Base, increased by the subsequent Purchase Payment, is $150,000.

• Your Maximum WB for Life Amount is $6,000 [4% of your new Lifetime Income Base].

You may increase your annual systematic withdrawals to $6,000 without any effect on your future lifetime benefits.

• Assume you elect to take only annual systematic withdraws of no more than your Maximum WB for Life Amount [$6,000] for an additional 20 years. Assume you make no subsequent Purchase Payments, and that your Account Value reduces to zero. On December 31, 2029:

• Your Account Value equals zero.

• Your GLB amount, reduced by the amount of the total withdrawals is $14,000 [$134,000 - ($6,000 x 20)].

• Your GLB Base is still $150,000 because you did not withdraw more than your Maximum WB Amount.

• Your Lifetime Income Base is $150,000 because you did not withdraw more than your Maximum WB for Life Amount in any Account Year.

Even though your rights under the annuity Contract terminated when the Account Value became zero, we will continue to make payments to you. At this point, however, you must choose between:

(1) withdrawing the Maximum WB for Life Amount each year until an Owner dies or

(2) withdrawing your Maximum WB Amount each year until your GLB amount is reduced to zero.

• Assume you elect to take annual payments of your Maximum WB for Life Amount of $6,000 until your GLB amount is reduced to zero in 2032.

• Your Account Value equals zero.

• Your GLB amount equals zero.

• Your GLB Base equals zero because your GLB amount equals zero.

• Your Lifetime Income Base is still $150,000 because you did not withdraw more than your Maximum WB for Life Amount.

You will continue to receive $6,000 per year as long as you are alive.

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EXAMPLE 7: Calculation of Explicit Rider Charges.

• Assume that you did not elect the WB plan at any time. Assume that your Account Value increases at an annual rate of 5% per year throughout the next ten years. Also assume that you do not elect to step-up at any time.

• On March 31, 2006, your Account Value before the charge for Secured Returns for Life is taken is $101,196.79. The charge deducted on March 31, 2006 is $126.50 ($101,196.79 x .00125). Therefore, your ending Account Value on March 31, 2006 is $101,070.29 ($101,196.79 - $126.50).

• On June 30, 2006, your Account Value before the charge for Secured Returns for Life is taken is $102,307.23. The fee deducted on June 30, 2006 is $127.88 ($102,307.23 x .00125). Therefore, your ending Account Value on June 30, 2006 is $102,179.35 ($102,307.23 - $127.88).

• On September 30, 2006, your Account Value before the charge for Secured Returns for Life is taken is $103,443.69. The fee deducted on September 30, 2006 is $129.30 ($103,443.69 x .00125). Therefore, your ending Account Value on September 30, 2006 is $103,314.39 ($103,443.69 - $129.30).

• This pattern continues until the maturity date for your Benefit of January 1, 2016. On that date, your Account will be credited with a payment. If your current Account Value is less than your current GLB amount, then your Account will be credited with the difference between these two amounts. If your current Account Value is greater than your current GLB amount, then your Account will be credited with the sum of all of Secured Returns for Life charges that have been made. Note that if Secured Returns for Life was revoked or cancelled before the maturity date for your Benefit of January 1, 2016, then no Secured Returns for Life credit will be made to your Account.

EXAMPLE 8: Withdrawals under the AB Plan; low investment performance.

• Assume that you did not elect the WB plan at any time.

• Assume that on January 1, 2007, you withdraw 10% of your Account Value of $110,000 (or $11,000). Your Account Value is now $99,000.

• On January 1, 2007, your GLB amount will be reset to $90,000. This equals the previous GLB amount reduced proportional to the amount of Account Value withdrawn, or $100,000 x [$99,000 ÷ $110,000].

• Assume you make no more withdrawals or Purchase Payments and that your Account Value on January 1, 2016 is $87,000. Assume that your total rider charges to date are $4,710.

• Since your Account Value is less than your GLB amount by $3,000, an amount equal to $3,000 will be deposited into your Contract ($90,000 - $87,000).

EXAMPLE 9: Withdrawals with Subsequent Purchase Payments under the AB Plan; low investment performance.

• Assume that you did not elect the WB Plan at any time.

• On June 1, 2010, you make an additional $80,000 Purchase Payment.

• On June 1, 2010, your GLB amount is $168,000 [$100,000 + ($80,000 x 85%)].

• Assume that, on June 1, 2012, you withdraw $40,000 and that your Account Value is $240,000 at this time. After the withdrawal, your Account Value is $200,000.

• On June 1, 2012, your GLB amount is reset to $140,000. This equals the previous GLB amount reduced proportional to the amount of Account Value withdrawn, or $168,000 x [$200,000 ÷ $240,000].

• Assume you make no more withdrawals or Purchase Payments and that your Account Value on January 1, 2016, is $125,000. Assume that your total rider charges to date are $7,200.

• Since your Account Value is less than your GLB amount by $15,000, an amount equal to $15,000 will be deposited into your Contract ($140,000 - $125,000).

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EXAMPLE 10: Withdrawals under WB Plan Exceeding Maximum WB for Life Amount; Poor Investment Performance.

• Assume you are age 63 at issue. Also assume that you elect the WB plan on January 1, 2006, and that you choose to systematically withdraw the Maximum WB Amount annually. Assume that your Designated Fund had poor investment performance, losing 2% a year over the course of the Contract. On January 1, 2006:

• Your GLB Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB for Life Amount is $4,000 [4% of your Lifetime Income Base because you are age 63].

• On December 31, 2006, after you take your first systematic withdrawal of $5,000, your Account Value is $93,000:

• Your GLB amount, reduced by the amount of the withdrawal, is $95,000 [$100,000-$5,000].

• Your GLB Base is still $100,000 because you withdrew no more than your Maximum WB Amount.

• Your Lifetime Income Base is reduced to $93,000 [the lesser of (1) your current Lifetime Income Base minus the excess withdrawal [$100,000 - ($5,000 - $4,000)] and (2) your new Account Value [$93,000]].

• Your Maximum WB for Life Amount is $3,720 [4% of your new Lifetime Income Base].

• Assume you make no subsequent Purchase Payments, but you take annual systematic withdrawals of $5,000 for a total of 16 years. Because of poor investment performance of your Designated Fund, your Account Value decreases to $3,330. In addition, because you have taken withdrawals in excess of the Maximum WB for Life Amount, your Lifetime Income Base is now $3,330. Your Maximum WB for Life Amount is now 4% of $3,330 or $133.

• Assume your Designated Fund earns -2% in Account Year 17, and that you take another $5,000 withdrawal. On December 31, 2022:

• Your Account Value is zero.

• Your GLB amount is $15,000 [$100,000 - ($5,000 x 17)].

• Your GLB Base is still $100,000 because you withdrew no more than the Maximum WB Amount.

• Your Lifetime Income Base is zero [the lesser of (1) your current Lifetime Income Base minus the excess withdrawal [$3,330 - ($5,000 - $133)] and (2) your new Account Value [$0]].

• Your Maximum WB Amount is still $5,000 [5% of your GLB Base].

• Your Maximum WB for Life Amount equals zero [4% of your new Lifetime Income Base].

Even though your Contract has terminated because your Account Value has reduced to zero, we will pay you the Maximum WB Amount of $5,000 per year for three more years, until your GLB amount is reduced to zero.

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EXAMPLE 11: Withdrawals under WB Plan Exceeding Maximum WB for Life Amount; Positive Investment Performance.

• Assume you are age 63 at issue. Also assume that you elect the WB plan on January 1, 2006, and that you choose to systematically withdraw the Maximum WB Amount annually. Assume that your Designated Fund had positive investment performance, gaining 2% a year over the course of the Contract. On January 1, 2006:

• Your GLB Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB for Life Amount is $4,000 [4% of your Lifetime Income Base because you are age 63].

• On December 31, 2006, after you take your first systematic withdrawal of $5,000, your Account Value is $97,000:

• Your GLB amount, reduced by the amount of the withdrawal, is $95,000 [$100,000-$5,000].

• Your GLB Base is still $100,000 because you withdrew no more than your Maximum WB Amount.

• Your Lifetime Income Base is reduced to $97,000 [the lesser of (1) your current Lifetime Income Base minus the excess withdrawal [$100,000 - ($5,000 - $4,000)] and (2) your new Account Value [$97,000]].

• Your Maximum WB for Life Amount is $3,880 [4% of your new Lifetime Income Base].

• Assume you make no subsequent Purchase Payments, but you take annual systematic withdrawals of $5,000 for a total of 19 years. Your GLB amount has been reduced to $5,000 [$100,000 - ($5,000 x 19)]. Because of good investment performance of your Designated Funds, your Account Value is now $31,478. In addition, because you have taken withdrawals in excess of the Maximum WB for Life Amount, your Lifetime Income Base is also now $31,478. Your Maximum WB for Life Amount is now 4% of $31,478, or $1,259.

• Assume your Designated Fund earns 2% in Account Year 20, and that you take another $5,000 withdrawal. On December 31, 2025:

• Your Account Value is $27,108.

• Your GLB amount is zero [$5,000 remaining - $5,000 withdrawal].

• Your GLB Base is zero because your GLB amount is equal to zero.

• Your Lifetime Income Base is $27,108 [the lesser of (1) your current Lifetime Income Base minus the excess withdrawal [$31,478 - ($5,000 - $1,259)] and (2) your new Account Value [$27,108]].

• Your Maximum WB for Life Amount equals $1,084 [4% of your new Lifetime Income Base of $27,108].

Because your Lifetime Income Base is greater than zero, you may take annual withdrawals up to the Maximum WB for Life Amount until you die or annuitize. If your Account Value is reduced to zero by a withdrawal that does not exceed you Maximum WB for Life Amount, we will continue to pay your then current Maximum WB for Life Amount each year as long as you are alive. If your Account Value is reduced to zero by a withdrawal that exceeds your Maximum WB for Life Amount, your Lifetime Income Base will be reduced to zero, your Maximum WB for Life Amount will become zero, and no more benefits will be paid.

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EXAMPLE 12: Withdrawals under WB Plan Exceeding Maximum WB Amount.

• Assume you are age 63 at issue. Also assume that you elect the WB plan on January 1, 2006. Assume that your Designated Fund had poor investment performance, losing 2% a year over the course of the Contract. On January 1, 2006:

• Your GLB Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB for Life Amount is $4,000 [4% of your Lifetime Income Base because you are age 63].

• On December 31, 2006, after you take a withdrawal of $6,000, your Account Value is $92,000:

• Your GLB amount is reduced to $92,000 [the lesser of (1) your current GLB amount minus the withdrawal [$100,000-$6,000] and (2) your new Account Value [$92,000]].

• Your GLB Base is reduced to $92,000 [the lesser of (1) your current GLB Base minus the excess withdrawal [$100,000 - ($6,000 - $5,000)] and (2) your new Account Value [$92,000]].

• Your Maximum WB Amount is now $4,600 [5% of your GLB Base].

• Your Lifetime Income Base is reduced to $92,000 [the lesser of (1) your current Lifetime Income Base minus the excess withdrawal [$100,000 - ($6,000 - $4,000)] and (2) your new Account Value [$92,000]].

• Your Maximum WB for Life Amount is $3,680 [4% of your new Lifetime Income Base of $92,000].

• Assume you make no subsequent Purchase Payments, but you take annual systematic withdrawals of $6,000 for a total of 13 years. Due to the of poor investment performance of your Designated Funds, your Account Value is now $7,609. Because you have taken withdrawals in excess of your Maximum WB Amount, your GLB amount is also now $7,609. Because you have taken withdrawals in excess of your Maximum WB Amount, your GLB Base is also now $7,609. Your Maximum WB Amount is 5% of $7,609, or $380. Because you have taken withdrawals in excess of your Maximum WB for Life Amount, your Lifetime Income Base is also now $7,609. Your Maximum WB for Life Amount is 4% of $7,609, or $304.

• Assume your Designated Fund earns -2% in Account Year 14, and that you take another $6,000 withdrawal. On December 31, 2022:

• Your Account Value is $1,457 [$7,609 x (1 - 0.02) - $6,000].

• Your GLB amount is $1,457 [the lesser of (1) your current GLB amount minus the withdrawal amount ($7,609 - $6,000) and (2) your new Account Value ($1,457)].

• Your GLB Base is $1,457 [the lesser of (1) your current GLB Base minus the excess withdrawal [$7,609 - ($6,000 - $380)] and (2) your new Account Value ($1,457)].

• Your Maximum WB Amount equals $73 [5% of your new Lifetime Income Base].

• Your Lifetime Income Base is $1,457 [the lesser of (1) your current Lifetime Income Base minus the excess withdrawal [$7,609 - ($6,000 - $304)] and (2) your new Account Value [$1,457]].

• Your Maximum WB for Life Amount equals $58 [4% of your new Lifetime Income Base of $1,457].

Because your GLB Base is greater than zero, you may take annual withdrawals up to the Maximum WB Amount until your GLB amount becomes zero. Because your Lifetime Income Base is greater than zero, you may take annual withdrawals up to the Maximum WB for Life Amount until you die or annuitize. Any withdrawal you take that is greater than your Maximum WB Amount will reduce your GLB Base (and hence, give you a new, reduced Maximum WB Amount). Any withdrawal you take that is greater than your Maximum WB for Life Amount will reduce your Lifetime Income Base (and hence, give you a new, reduced Maximum WB for Life Amount).

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If your Account Value is reduced to zero by a withdrawal that does not exceed your Maximum WB for Life Amount, you must choose between:

(1) withdrawing the Maximum WB for Life Amount each year until you die, or

(2) withdrawing your Maximum WB Amount each year until your GLB amount is reduced to zero.

If your Account Value is reduced to zero by a withdrawal that exceeds your Maximum WB for Life Amount but does not exceed your Maximum WB Amount, your Lifetime Income Base will become zero, but we will continue to pay your then current Maximum WB Amount each year until your GLB is reduced to zero.

If your Account Value is reduced to zero by a withdrawal that exceeds both your Maximum WB for Life Amount and your Maximum WB Amount, your Lifetime Income Base, your GLB amount, and your GLB Base will all be reduced to zero, your Maximum WB for Life Amount and your Maximum WB Amount will both become zero, and no more benefits will be paid.

EXAMPLE 13: Step-up elected under AB Plan.

• Assume that you did not elect the WB plan at any time. Assume that your Account Value was $150,000 on January 1, 2009. Since this amount is greater than your GLB amount, you may step-up to a new 10-year period, with a new GLB amount of $150,000. Assume that you elect to step-up.

• Your Maturity Date is reset to January 1, 2019 (ten years after the date of the step-up). Assume that on January 1, 2019, your Account Value is $130,000. Assume that your total rider charges to date are $8,875.

• Since your Account Value is lower than your stepped-up GLB by $20,000, an amount equal to $20,000 will be deposited into your Contract ($150,000 - $130,000).

EXAMPLE 14: Step-up elected under WB Plan.

• Assume you are age 65 at issue. Also assume that you elect the WB plan on January 1, 2006, and that you choose to systematically withdraw the Maximum WB Amount annually. Assume that your Designated Fund had good investment performance, gaining 6% a year over the course of the Contract. On January 1, 2006:

• Your GLB Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 [the value of your GLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB for Life Amount is $5,000 [5% of your Lifetime Income Base because you are age 65].

• On December 31, 2006, after you take your first systematic withdrawal of $5,000, your Account Value is $101,000:

• Your GLB amount, reduced by the amount of the withdrawal, is $95,000 [$100,000-$5,000].

• Your GLB Base is still $100,000 because you withdrew no more than your Maximum WB Amount.

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 because you withdrew no more than your Maximum WB for Life Amount.

• Your Maximum WB for Life Amount is $5,000 [5% of your Lifetime Income Base].

• Assume you make no subsequent Purchase Payments, but you take systematic withdrawals of $5,000 for a total of 3 years. On December 31, 2008:

• Your Account Value is $103,184.

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• Your GLB amount is $85,000 [$100,000 - ($5,000 x 3)].

• Your GLB Base is still $100,000 because you withdrew no more than your Maximum WB Amount.

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is still $100,000 because you withdrew no more than your Maximum WB for Life Amount.

• Your Maximum WB for Life Amount is $5,000 [5% of your Lifetime Income Base].

• Because your Account Value is greater than your GLB amount, your GLB Base, and your Lifetime Income Base, you may step-up your GLB amount, your GLB Base, and your Lifetime Income Base each to an amount equal to your current Account Value. Assume you elect to step-up. On January 1, 2009*:

• Your Account Value is $103,184.

• Your GLB amount is $103,184.

• Your GLB Base is $103,184.

• Your Maximum WB Amount is $5,159 [5% of your new GLB Base].

• Your Lifetime Income Base is $103,184.

• Your Maximum WB for Life Amount is $5,159 [5% of your new Lifetime Income Base].

* Note: Assume instead that you elected to step-up sometime in 2009 after your withdrawal of $5,000 was taken and that your Account Value at the time of the step-up was $103,184. Your new Maximum WB Amount and new Maximum WB for Life amount would apply so that you could withdraw an additional $159 without exceeding your maximum amounts.

EXAMPLE 15: Subsequent Purchase Payments after Step-up under the AB Plan; Refund Applies.

• Assume that you did not elect the WB plan at any time. Assume that your Account Value was $150,000 on January 1, 2009. Since this amount is greater than your GLB amount, you may step-up to a new 10-year period, with a new GLB amount of $150,000. Assume that you elect to step-up. Your Maturity Date is reset to January 1, 2019 (ten years after the date of the step-up).

• On June 1, 2010, you make an additional $80,000 Purchase Payment.

• On June 1, 2010, your GLB amount is $230,000 [$150,000 + ($80,000 x 100%)]. Since it has been less than two years since the step-up was elected, the GLB amount is increased by 100% of the new Purchase Payment amount.

• Assume that on January 1, 2019 (your Maturity Date), your Account Value is $280,000. Assume that your total rider charges to date are $13,850.

• Because your Account Value is greater than the GLB amount of $230,000, your account will be credited with the amount of your rider charges, increasing your Account Value to $293,850.

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APPENDIX H - SECURED RETURNS

The optional living benefit Secured Returns (“Benefit” or “the rider”) was available for all Contracts purchased prior to September 7, 2004 and certain contracts purchased on or after that date. The following information applies to your Contract if you elected to participate in Secured Returns and did not replace it with Secured Returns 2, which was available for such replacements for a limited period of time. Secured Returns is no longer available for sale on new Contracts. Since we are no longer offering Secured Returns to new Owners, renewals are no longer available.

Secured Returns guarantees a return of your Purchase Payments (adjusted for subsequent Purchase Payments and withdrawals), regardless of the investment performance of the underlying funds, provided that you comply with certain requirements. The amount guaranteed can be greater than or less than your Account Value. Upon annuitization, the Benefit and any optional death benefit automatically terminate.

To participate in Secured Returns, all of your Account Value must be invested in a Designated Fund at all times during the term of the plan: a 10-year period under the AB Plan or, if you elected the WB Plan, until your guaranteed amount is reduced to zero. See “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

If you elected to participate in Secured Returns with the basic death benefit, we assess your Contract an annual charge of 0.40% of your average daily net assets. If you elected Secured Returns with the EEB Premier rider, we assess your Contract an annual charge of 0.65% of your average daily net assets. We will continue to deduct this annual charge until you annuitize or your Secured Returns expires or is revoked. Cancellation of the Benefit (caused by a transfer out of the Designated Fund or a Purchase Payment allocation to a non-Designated Fund) may not terminate the annual charge.

Any time after your 7th Account Anniversary, you may revoke Secured Returns. Once revoked, the Benefit may not be reinstated. After the Benefit has been revoked, your insurance charges will be reduced by 0.40% of your average daily Account Value. If you elected the Benefit in combination with the EEB Premier rider, that optional death benefit rider will not be revoked and the charge of the rider (0.25% of your average daily Account Value) will continue.

Transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached. If however you transfer some or all of your Account Value out of the Designated Fund into another investment option offered under your Contract, Secured Returns will be automatically cancelled. Likewise, if you allocate one or more subsequent Purchase Payments to an investment option other than one of the Designated Funds, Secured Returns will be cancelled.

Once the Benefit has been cancelled, it cannot be reinstated. After the cancellation of the Benefit, you will continue to pay the annual charge for the Benefit until your 7th Account Anniversary. After your 7th Account Anniversary, your insurance charges will be reduced by 0.40% of your average daily Account Value. If you elected the Benefit in combination with the EEB Premier rider, that optional death benefit rider will not be cancelled and the cost of such rider (0.25% of your average daily Account Value) will remain.

If you elected Secured Returns, you may choose to receive your Benefit under one of two plans: the Guaranteed Minimum Accumulation Benefit (“AB”) Plan or the Guaranteed Minimum Withdrawal Benefit (“WB”) Plan. You are automatically enrolled in the AB Plan at the time you elect Secured Returns. Any time prior to your 81st birthday, you may elect instead to receive your Benefit under the WB Plan. There is no waiting period for participation in the WB Plan, but you must make your election prior to your 10th Account Anniversary or annuitization, whichever is earlier. Once you elect to participate in the WB Plan, you may not change your election to the AB Plan. If you do not specifically elect the WB Plan, you will be deemed to have elected to remain in the AB Plan.

All withdrawals under Secured Returns are subject to withdrawal charges if they are in excess of the annual free withdrawal amount. (See “Free Withdrawal Amount” under “Withdrawal Charge” in the prospectus to which this Appendix is attached.) In addition, if you have elected Secured Returns, but have not yet elected to participate in the

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WB Plan, any withdrawals you make will reduce your GLB amount proportionally to the amount of Account Value withdrawn. For examples showing how withdrawals affect your benefits under Secured Returns, see Examples 5 through 8 in this Appendix.

Under the terms of the Guaranteed Minimum Accumulation Benefit (“AB”) Plan, on your 10th Account Anniversary, we will credit your Account Value with any excess of your Guaranteed Living Benefit Amount (“GLB amount”) over your Account Value after the application of any other Contract transactions. Any such amount will be allocated to the Designated Fund in which you are invested at that time. Your GLB amount is equal to the sum of 100% of your initial Purchase Payment plus a specified percentage of any subsequent Purchase Payments, adjusted in amount for partial withdrawals. One or more subsequent Purchase Payments during the 10-year period will not restart the 10-year period. For each subsequent Purchase Payment after the second Account Anniversary, we will increase the GLB amount by less than 100% of the Purchase Payment depending upon the Account Year in which it was made, as follows:

Account Year in which Purchase Payment was made	Percentage Guaranteed
1 - 2	100%
3 - 5	85%
6 - 8	70%
9 - 10	60%

For examples of how we calculate benefits under the AB Plan, see Examples 1 and 2 in this Appendix. Note that the timing and amount of subsequent Purchase Payments may affect the total Benefit. In particular, it may be disadvantageous for you to make Purchase Payments that increase the GLB amount by less than 100% of the payment.

To calculate the GLB amount after a partial withdrawal under the AB Plan, we multiply the GLB amount immediately before the withdrawal by the ratio of the Account Value immediately after the withdrawal to the Account Value immediately before the withdrawal. (See Examples 5 and 7 in this Appendix.)

If you die while the AB Plan is still in force, all benefits and charges under Secured Returns will automatically terminate when we receive Due Proof of Death, unless your surviving spouse is the sole Beneficiary. In that case, your surviving spouse may elect to continue the Contract. If such election is made, the same Benefit will apply. Your surviving spouse can elect the WB Plan at any time prior to the earliest of annuitization, the surviving spouse’s 81st birthday, and your 10th Account Anniversary. If your surviving spouse does not elect the WB Plan, the AB Plan will continue. In such case, the benefits under AB Plan will be determined according to the original 10-year period. In all cases, the GLB amount will not reset upon your death.

If the Contract is not continued by your surviving spouse following your death while participating in the AB Plan, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Under the terms of the Guaranteed Minimum Withdrawal Benefit (“WB”) Plan, you may withdraw up to a set dollar amount from your Account Value each year during which the WB Plan is in effect, until your remaining GLB amount equals zero. This set dollar amount, or “maximum WB amount,” is equal to 7% of the GLB amount on the date you elect to participate in the WB Plan. You are not required to make any withdrawals after you have elected the WB Plan; however, if you withdraw more than the maximum WB amount in any Account Year, your remaining GLB amount and future guaranteed withdrawals will be reduced in the manner discussed further below. You should be aware that a withdrawal in excess of the maximum WB amount might significantly reduce your Secured Returns Benefits if your Account Value is less than the remaining GLB amount. In addition, the value you will receive upon a full withdrawal, or “surrender” of your Contract, will be your Contract’s Surrender Value and not the remaining GLB amount. Any subsequent Purchase Payment made after you have elected the WB Plan, and before your fourth Account Anniversary, will increase your remaining GLB amount by 100% of such subsequent Purchase Payment. Your maximum WB amount will increase by 7% of such subsequent Purchase Payment. After

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your fourth Account Anniversary, you may not make any additional Purchase Payments if you have elected the WB Plan. For examples of how we calculate benefits under the WB Plan, see Examples 3 and 4 in this Appendix.

Once you have elected to participate in the WB Plan, withdrawals of no more than the maximum WB amount will reduce your remaining GLB amount dollar for dollar. If you are participating in the WB Plan and you withdraw, in any one Account Year, more than the current maximum WB amount, your remaining GLB amount will be reduced to equal the lesser of:

(a) your previous remaining GLB amount reduced dollar for dollar by the amount of the withdrawal, or

(b) your Account Value.

If (b), above, is less than (a), then your maximum WB amount will be reduced so that the new remaining GLB amount will expire on the same date it would have had the maximum WB amount been withdrawn every year thereafter. (See Example 6 in this Appendix.)

The maximum WB amount is not cumulative. That is to say, if you withdraw less than the maximum WB amount in any one Account Year, you cannot add that unused portion to withdrawals made in future years to exceed the maximum WB amount.

Under the WB Plan, your Secured Returns benefits will continue until your remaining GLB amount is reduced to zero, even if your Account Value drops to zero. If your Account Value drops to zero, no subsequent Purchase Payment will be accepted and no death benefit will be payable. We will however, continue to pay the maximum WB amount each Account Year while you are alive until your remaining GLB amount has been reduced to zero.

If you die while the WB Plan is in force and your surviving spouse, as the sole Beneficiary, elects to continue the Contract, Secured Returns will continue on the same terms, for your surviving spouse, even though the Account Value may have been enhanced under the provisions of the death benefit. (See “Spousal Continuance” under “DEATH BENEFIT” in the Prospectus to which this Appendix is attached.) In all other situations, the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract, or in the alternative, to receive the maximum WB amount on an annual basis until the remaining GLB amount has been reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted under Federal Tax Laws, the GLB amount must be fully distributed by December 31^st of the tenth year after your death.)

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as Secured Returns. When you elect to participate in the WB Plan, we will inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit. To assist you in complying with the RMD requirements, each year, we will notify you in early January of your calculated Yearly RMD Amount and inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit.

In the event that your Yearly RMD Amount attributable to your Contract is greater than the maximum withdrawal amount permitted each year under the WB Plan, we are currently waiving withdrawal provisions under Secured Returns as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in the WB Plan, we reduce your Account Value and your remaining GLB amount, dollar for dollar, by the amount of the withdrawal. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than either your Maximum WB Amount. In other words, we will not reduce your remaining GLB amount if a Yearly RMD Amount exceeds either your Maximum WB Amount, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

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If there is any change to the current Code or IRS rules governing the timing or determination of RMD amounts (including, but not limited to, amendments to the current IRS regulations or the issuance of IRS guidance), then we reserve the right to reduce the remaining GLB amount per the terms of the rider regarding excess withdrawals, when a Yearly RMD Amount withdrawn from your Contract exceeds your Maximum WB Amount. Notice will be given to Contract Owners before we exercise this right.

If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in the AB Plan, we reduce your Account Value by the amount of the withdrawal and your GLB amount proportionally.

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

ALL OF THE FOLLOWING EXAMPLES ARE BASED UPON THE ASSUMPTION YOU SELECTED SECURED RETURNS ON OR BEFORE YOUR ISSUE DATE.

Examples 1 through 4 demonstrate how we calculate your Secured Returns Benefit assuming you make no subsequent Purchase Payments and you make no withdrawals other than those satisfying the maximum WB amount under the WB Plan. Examples 1 and 2 show your benefit under the AB Plan, and Examples 3 and 4 show your benefit under the WB Plan. Examples 5 through 8 demonstrate how withdrawals and subsequent Purchase Payments affect your Secured Returns Benefit. Examples 5 and 7 show how withdrawals affect your benefits under the AB Plan. Example 6 shows the effect of withdrawing more than the maximum WB amount under the WB Plan in any one Account Year. Examples 7 and 8 show the effects of making subsequent Purchase Payments.

EXAMPLE 1: Low investment performance; no WB election.

• Assume that on January 1, 2003, you purchased a Contract with an initial Purchase Payment of $100,000. Assume that you did not elect the WB plan at any time and that your Designated Fund had low investment performance.

• Assume that on January 1, 2013, your Account Value is $85,000. On that date, your Account Value will be increased by $15,000 ($100,000 - $85,000).

EXAMPLE 2: High investment performance; no WB election

• Assume that on January 1, 2003, you purchased a Contract with an initial Purchase Payment of $100,000. Assume that you did not elect the WB plan at any time and that your Designated Fund had high investment performance.

• Assume that on January 1, 2013, your Account Value is $200,000. Because your Account Value is greater that the GLB amount of $100,000, your Account Value will not be increased.

EXAMPLE 3: Low investment performance; WB election

• Assume that on January 1, 2003, you purchased a Contract with an initial Purchase Payment of $100,000. Assume that you elected the WB plan at issue and choose to systematically withdraw the maximum WB amount (i.e., 7% of the $100,000 or $7,000).

• On December 31, 2003, your remaining GLB amount will be $93,000 ($100,000 - $7,000). Assume that, on that date, your Account Value is $91,000.

• On December 31, 2004, your remaining GLB amount will be $86,000 ($93,000 - $7,000). Assume that, on that date, your Account Value is $80,000. These withdrawals continue for seven more years.

• On December 31, 2011, your remaining GLB amount will be $37,000 ($86,000 - ($7,000 x 7 years)). Assume that, on that date, your Account Value is $0. These withdrawals of $7,000 continue until the remaining GLB amount runs out in year 15, after the final withdrawal of $2,000 has been taken. At that time, the Benefit terminates.

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EXAMPLE 4: High investment performance; WB election

• Assume that you elected the WB plan at issue and choose to systematically withdraw the maximum WB amount (i.e., 7% of the $100,000 or $7,000).

• On December 31, 2003, your remaining GLB amount will be $93,000 ($100,000 - $7,000). Assume that, on that date, your Account Value is $91,000.

• On December 31, 2004, your remaining GLB amount will be $86,000 ($93,000 - $7,000). Assume that, on that date, your Account Value is $90,000. These withdrawals continue for seven more years.

• On December 31, 2011, your remaining GLB amount will be $37,000 ($86,000 - ($7,000 x 7 years)). Assume that, on that date, your Account Value is $50,000. These withdrawals continue for 5 more years.

• On December 31, 2016, the remaining GLB amount equals $2,000 ($37,000 - ($7,000 x 5 years)). Assume the Account Value equals $30,000.

• Assume that, on December 31, 2017, you withdraw the remaining $2,000 to exhaust the remaining GLB amount. Secured Returns thus terminates and the annual fee stops. However, because there is a remaining Account Value, the Contract continues.

EXAMPLE 5: Withdrawals under the AB Plan

• Assume that on January 1, 2003, you purchased a Contract with an initial Purchase Payment of $100,000. Your GLB amount is $100,000.

• Assume that on January 1, 2004, your Account Value is $110,000 and you withdraw 10% of your Account Value (or $11,000). Your GLB amount will be reset to $90,000, i.e., the previous GLB amount ($100,000) reduced proportional to the amount of Account Value withdrawn (10%), or $100,000 - (10% of $100,000).

• Assume you make no more withdrawals or Purchase Payments and that your Account Value, on January 1, 2013, is $85,000. Your Account Value will be increased by $5,000 ($90,000 - $85,000).

EXAMPLE 6: Withdrawals under the WB Plan

• Assume that on January 1, 2003, you purchased a Contract with an initial Purchase Payment of $100,000. Assume that you elected the WB Plan at issue. Your maximum WB amount would be $7,000 (i.e., 7% of the $100,000).

• Assume that, on January 1, 2004, your Account Value is $95,000. Assume that no withdrawals have been made. Your remaining GLB amount is still $100,000 and your maximum WB amount is still $7,000.

• Assume that, on September 3, 2004, your Account Value is $93,000 and you withdraw $5,000. Your Account Value is thus reduced to $88,000, and your remaining GLB amount is reduced to $95,000. Your maximum WB amount is still $7,000; however, you can only withdraw $2,000 more this Account Year without exceeding your maximum WB amount for the Account Year.

• Assume that, on January 4, 2005, your Account Value is $85,000 and you withdraw another $5,000. Your Account Value is thus reduced to $80,000. This is now a new Account Year, so the maximum WB amount has not yet been exceeded. Your remaining GLB amount is reduced to $90,000. Your maximum WB amount is still $7,000; however, you can only withdraw $2,000 more this Account Year without exceeding your maximum WB amount for the Account Year.

• Assume that, on November 4, 2005, your Account Value is $79,000 and you withdraw another $5,000. Your Account Value is thus reduced to $74,000. Your total withdrawals for the current Account Year equal $10,000 ($5,000 + $5,000), a total of $3,000 in excess of your maximum WB amount. Your remaining GLB amount is thus reduced to $74,000; i.e., the lesser of your Account Value ($74,000) and your previous remaining GLB amount reduced dollar for dollar by the withdrawal ($90,000 - $5,000). Your maximum WB amount is reduced so that the date on which the remaining GLB amount expires will be the same date it would have expired had the maximum WB been withdrawn every year, i.e., ($90,000 - $2,000) ÷ $7000 = 12.57 years. Thus the maximum WB amount will become $5,887 ($74,000 ÷ 12.57).

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EXAMPLE 7: Withdrawals with subsequent Purchase Payments under the AB Plan

• Assume that on January 1, 2003, you purchased a Contract with an initial Purchase Payment of $100,000. Assume that you did not elect the WB Plan at any time.

• On June 1, 2007, you make a subsequent Purchase Payment of $100,000. Your GLB amount is now $185,000, i.e., ($100,000 x 100%) + ($100,000 x 85%).

• Assume that, on June 1, 2009, your Account Value is $240,000 and you withdraw $40,000. Your Account Value is reduced to $200,000. Your GLB amount is reset to $154,167, i.e., the previous GLB amount reduced proportional to the amount of Account Value withdrawn, or $185,000 x ($200,000 ÷ $240,000). Assume you make no more withdrawals or subsequent Purchase Payments.

• Assume that, on January 1, 2013, your Account Value is $125,000. On that date, your Account Value will be increased by $29,167 ($154,167 - $125,000).

EXAMPLE 8: Withdrawals with subsequent Purchase Payments under the WB Plan

• Assume that on January 1, 2003, you purchased a Contract with an initial Purchase Payment of $100,000. Assume that you elected the WB plan at issue and choose to systematically withdraw the maximum WB amount (i.e., 7% of the $100,000 or $7,000).

• On January 1, 2004, your remaining GLB amount will be $93,000 ($100,000 - $7,000). Assume that, on that date, your Account Value is $91,000.

• Assume that, on January 6, 2004, you make an additional Purchase Payment of $50,000. Your remaining GLB amount is reset to $143,000 ($93,000 + $50,000). Your maximum WB amount is reset to $10,500 ($7,000 + (7% x $50,000)). Assume you increase your annual withdrawals to equal the maximum WB amount of $10,500.

• Assume that, on January 1, 2005, you withdraw the maximum WB amount of $10,500 and your remaining GLB amount is $132,500 ($143,000 - $10,500). Assume that no additional subsequent Purchase Payments are made and the maximum WB amount is withdrawn annually.

• Assume that, on January 1, 2013, your Account Value equals $0. Your remaining GLB amount will be $48,500, i.e., ($132,500 - ($10,500 x 8 years). Withdrawals will continue until the remaining GLB amount is reduced to zero.

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APPENDIX I - SECURED RETURNS 2

The following information applies to your Contract if you elected to participate in Secured Returns 2 (“Benefit,” “Secured Returns 2,” or “the rider”) and did not replace it with Secured Returns for Life, which was available for such replacements for a limited period of time beginning in November 2005. Secured Returns 2 is no longer available for sale on new Contracts. Since we are no longer offering Secured Returns 2 to new Owners, renewals are no longer available.

Secured Returns 2 guarantees a return of your Purchase Payments (adjusted for subsequent Purchase Payments and withdrawals), regardless of the investment performance of the underlying funds, provided that you comply with certain Benefit requirements. The amount guaranteed can be greater than or less than your Account Value. All Benefits and charges under Secured Returns 2 terminate upon annuitization.

Secured Returns 2 is available only if you are age 84 or younger on the Open Date. If you choose to participate in the Benefit, you must make your election no later than your Issue Date. You may combine the Benefit with any optional death benefit other than the EEB Premier Plus. Upon annuitization, Secured Returns 2 and any elected optional death benefit automatically terminate.

To participate in Secured Returns 2, all of your Account Value must be invested in a Designated Fund at all times during the term of the plan: a 10-year period under the AB Plan or, if you elected the WB Plan, until the guaranteed amount is reduced to zero. See “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

Unlike other Contract charges, the charge for Secured Returns 2 will not be calculated as a percentage of average daily net assets as described under “Variable Accumulation Unit Value.” Instead, the charge for the Benefit will be made as a specific deduction from the Account Value, taken on the last valuation day of the Account Quarter. The charge per year is equal to 0.50% of your Account Value. The quarterly charge will be determined by multiplying the Account Value at the end of the Account Quarter by 0.00125. (See Example 12 in this Appendix.) The specific amount of the quarterly charge will be reflected on your quarterly account statement. We will continue to deduct this charge until you annuitize or your Secured Returns 2 Benefit expires or is revoked. Cancellation of the Benefit (caused by a transfer out of a Designated Fund or a Purchase Payment allocation to a non-Designated Fund) will not terminate the charge, until the 7th Account Anniversary. Any time after your 7th Account Anniversary, you may revoke Secured Returns 2. Once revoked, Secured Returns 2 may not be reinstated. After Secured Returns 2 has been revoked, all benefits and charges will end.

Transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached. If however you transfer some or all of your Account Value out of the Designated Fund into another investment option offered under your Contract, Secured Returns 2 will be automatically cancelled. Likewise, if you allocate one or more subsequent Purchase Payments to an investment option other than one of the Designated Funds, Secured Returns 2 will be cancelled. Once the Benefit has been cancelled, it cannot be reinstated. After the cancellation of the Benefit, you will continue to pay the annual charge for the Benefit until your 7th Account Anniversary.

If you elect Secured Returns 2, you may choose to receive your Benefit under one of two plans: the Guaranteed Minimum Accumulation Benefit (“AB”) Plan or the Guaranteed Minimum Withdrawal Benefit (“WB”) Plan.

If you elect Secured Returns 2, you are automatically enrolled in the AB Plan. After your first Account Anniversary, you may elect instead to receive your Benefit under the WB Plan, provided that you make the election prior to the earliest of your 81st birthday, the date you annuitize, and the date your AB Plan matures. Once you elect to participate in the WB Plan, you may not change your election to the AB Plan. If you do not specifically elect the WB Plan, you will be deemed to have elected to remain in the AB Plan.

All withdrawals under Secured Returns 2 are subject to withdrawal charges if they are in excess of the annual free withdrawal amount. (See “Free Withdrawal Amount” under “Withdrawal Charge” in the prospectus to which this

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Appendix is attached.) In addition, if you have elected Secured Returns 2, but have not yet elected to participate in the WB Plan, any withdrawals you make will reduce your Guaranteed Living Benefit Amount (“GLB amount”) proportionally to the amount of Account Value withdrawn. For examples showing how withdrawals affect your benefits under Secured Returns 2, see Examples 6, 7, 8, 9 and 11 in this Appendix.

Under the terms of the Guaranteed Minimum Accumulation Benefit (“AB”) Plan, on your 10th Account Anniversary, we will credit your Account Value with any excess of your GLB amount over your Account Value after the application of any other Contract transactions. Any such amount will be allocated to the Designated Fund in which you are invested at that time. Your GLB amount is equal to the sum of 100% of your initial Purchase Payment plus a specified percentage of any subsequent Purchase Payments, adjusted in amount for partial withdrawals. One or more subsequent Purchase Payments during the 10-year period will not restart the 10-year period. For each subsequent Purchase Payment after the second Account Anniversary, we will increase the GLB amount by less than 100% of the Purchase Payment depending upon the Account Year in which it was made, as follows:

Account Year in which Purchase Payment was made	Percentage guaranteed
1 - 2	100%
3 - 5	85%
6 - 8	70%
9 - 10	60%

For examples of how we calculate benefits under the AB Plan, see Examples 1, 2, and 3 in this Appendix. Note that the timing and amount of subsequent Purchase Payments may affect the total Secured Returns 2 Benefit. In particular, it may be disadvantageous for you to make Purchase Payments that increase the GLB amount by less than 100% of the payment.

If your Contract remains in the AB Plan until it “matures” on the later of your 10th Account Anniversary or 10 years from your most recent Step-Up Date, and the Account Value is greater than or equal to the GLB amount on the “maturity date,” then we will refund the charges you have paid for Secured Returns 2 (“Refund Amount”) by crediting the Refund Amount to your Account Value. The Refund Amount will be allocated to the Designated Fund in which you are invested on such “maturity date.” No refund of Secured Returns 2 charges will be made if you change from the AB Plan to the WB Plan.

To calculate the GLB amount after a partial withdrawal under the AB Plan, we multiply the GLB amount immediately before the withdrawal by the ratio of the Account Value immediately after the withdrawal to the Account Value immediately before the withdrawal. (See Examples 6 and 9 in this Appendix.)

If you die while participating in the AB Plan, all benefits and charges under Secured Returns 2 will automatically terminate when we receive Due Proof of Death, unless your surviving spouse is the sole Beneficiary. In that case, your surviving spouse may elect to continue the Contract. If such election is made, the same Secured Returns 2 Benefit will apply. Your surviving spouse can elect the WB Plan at any time prior to the earliest of annuitization, the surviving spouse’s 81st birthday, and the date the AB Plan is scheduled to “mature”. If your surviving spouse does not elect the WB Plan, the AB Plan will continue on the same terms, for your surviving spouse, even though the Account Value may have been enhanced under the provisions of the death benefit. (See “Spousal Continuance” under “DEATH BENEFIT” in the Prospectus to which this Appendix is attached.) In all cases, the GLB amount will not reset upon your death, but the charges under Secured Returns 2 will be assessed against the enhanced Account Value.

If the Contract is not continued by your surviving spouse following your death while participating in the AB Plan, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Under the terms of the Guaranteed Minimum Withdrawal Benefit (“WB”) Plan, you may withdraw up to a set dollar amount from your Account Value each year during which the WB Plan is in effect, until your remaining GLB amount equals zero. Once the remaining GLB amount is reduced to zero, the Secured Returns 2 Benefit will expire and no new Purchase Payments will be accepted into the WB Plan. This set dollar amount, or “maximum WB amount,” is

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equal to 7% of the remaining GLB amount on the date you elect to participate in the WB Plan. You are not required to make any withdrawals after you have elected the WB Plan; however, if you withdraw more than the maximum WB amount in any Account Year, your remaining GLB amount and future guaranteed withdrawals will be reduced in the manner discussed further below. You should be aware that a withdrawal in excess of the maximum WB amount might significantly reduce your Secured Returns 2 Benefits if your Account Value is less than your remaining GLB amount. In all cases, the value you will receive upon a full withdrawal, or “surrender” of your Contract, will be your Contract’s Surrender Value and not the remaining GLB amount. Provided any remaining GLB amount is not reduced to zero, any subsequent Purchase Payment made after you have elected the WB Plan, and before your fourth Account Anniversary, will increase your remaining GLB amount by 100% of such subsequent Purchase Payment. Your maximum WB amount will increase by 7% of such subsequent Purchase Payment. After your fourth Account Anniversary, you may not make any additional Purchase Payments unless your WB Plan has expired.

Once you have elected to participate in the WB Plan, withdrawals of no more than the maximum WB amount will reduce the remaining GLB amount dollar for dollar. If you are participating in the WB Plan and you withdraw, in any one Account Year, more than the current maximum WB amount, the remaining GLB amount will be reduced to equal the lesser of:

(a) your previous remaining GLB amount reduced dollar for dollar by the amount of the withdrawal, or

(b) your Account Value.

If (b), above, is less than (a), then your maximum WB amount will be reduced so that the new remaining GLB amount will expire on the same date it would have had the maximum WB amount been withdrawn every year thereafter. (See Example 7 in this Appendix.)

The maximum WB amount is not cumulative. That is to say, if you withdraw less than the maximum WB amount in any one Account Year, you cannot add that unused portion to withdrawals made in future years to exceed the maximum WB amount.

Under the WB Plan, your Secured Returns 2 benefits will continue until your remaining GLB amount is reduced to zero, even if your Account Value drops to zero. If your Account Value drops to zero, no subsequent Purchase Payment will be accepted and no death benefit will be payable. We will however, continue to pay the maximum WB amount each Account Year while you are alive until your remaining GLB amount has been reduced to zero.

For examples of how we calculate benefits under the WB Plan, see Examples 4 and 5 in this Appendix.

If you die while participating in the WB Plan and your surviving spouse, as the sole Beneficiary, elects to continue the Contract, Secured Returns 2 will continue on the same terms, for your surviving spouse, even though the Account Value may have been enhanced under the provisions of the death benefit. (See “Spousal Continuance” under “DEATH BENEFIT” in the Prospectus to which this Appendix is attached.) In such case, the remaining GLB amount will not reset upon your death, but the charges under Secured Returns 2 will be assessed against the enhanced Account Value. In all other situations, the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract, or in the alternative, to receive the maximum WB amount on an annual basis until the remaining GLB amount has been reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted under Federal Tax Laws, the GLB amount must be fully distributed by December 31^st of the tenth year after your death.)

After your fifth Account Anniversary, you may elect to increase (“step-up”) your GLB amount or remaining GLB amount to your then current Account Value. Currently, this step-up election may be made on any day after your fifth Account Anniversary. (We reserve the right to require step-up elections to occur only within 30 days following the fifth or any subsequent Account Anniversary.) On the day we receive your step-up election notice in Good Order (the “Step-Up Date”), we will increase your GLB or remaining GLB amount to an amount equal to your Account Value on the Step-Up Date. If you elect to step-up your GLB or remaining GLB amount, at least 5 full years from the Step-Up Date must pass before you can elect another step-up. You can only elect to step-up the GLB or remaining GLB amount if the current Account Value is greater than the current GLB or remaining GLB amount. If you are in the AB Plan, you must be less than age 85 on the Step-Up Date. If you are in the WB Plan, you must be less than age 81 on the Step-Up Date.

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Following your step-up election, the rider fee may be changed to an amount that may be higher than your current Secured Returns 2 fee as discussed above. The rider fee after the step-up will be set by us, based upon current market conditions at the time of the step-up. Significant changes in stock market prices, interest rate fluctuations, and competitive industry trends are among the market conditions we consider in whether to change the fee.

If you are participating in the AB Plan and you elect to step-up your GLB amount, the term of your benefit under the AB Plan will change. Without a step-up, your benefit under the AB Plan will “mature” on the 10th Account Anniversary (the date we credit your Account with any excess of your GLB amount over your Account Value or refund your Secured Returns 2 rider charges). After you make a step-up election, your benefit under the AB Plan will mature 10 years from the Step-Up Date. (See Example 2 in this Appendix.)

If you have been receiving benefits under the WB Plan, a step-up may change your “maximum WB amount.” After the step up, your “maximum WB amount” will become the greater of the current “maximum WB amount” and 7% of your new remaining GLB amount. Note that, if you step-up in a particular Account Year, any withdrawals previously made in that Account Year are applied against your new “maximum WB amount.” (See Example 8 in this Appendix.)

At the time of a step-up, if your benefit is under the AB Plan, you can still change to the WB Plan at a later date, subject to the applicable age restrictions described above.

Because Purchase Payments, under the WB Plan, are not allowed after your fourth Account Anniversary, you must be participating in the AB Plan to make any subsequent Purchase Payments after a Step-Up. After your step-up election, any subsequent Purchase Payment will increase the GLB amount under your AB Plan by a specified percentage of the subsequent Purchase Payment. The percentage guaranteed depends upon “Step-Up Year” in which the Payment was made. (A “Step-Up Year” is the 365-day period (366, if a leap year) commencing on your Step-Up Date.) The example below illustrates how we determine the percentage guaranteed after a subsequent Purchase Payment:

Assume you purchased a Contract on July 1, 2005, and elected to step-up your Contract on October 1, 2010. Under the AB Plan that you have elected, your benefit matures on October 1, 2020. For any subsequent Purchase Payments you make, your GLB amount will increase by the following percentages:

Step-Up Year	Payments Made Between	Percentage Guaranteed
1	10/02/10 - 10/01/11	100%
2	10/02/11 - 10/01/12	100%
3	10/02/12 - 10/01/13	85%
4	10/02/13 - 10/01/14	85%
5	10/02/14 - 10/01/15	85%
6	10/02/15 - 10/01/16	70%
7	10/02/16 - 10/01/17	70%
8	10/02/17 - 10/01/18	70%
9	10/02/18 - 10/01/19	60%
10	10/02/19 - 10/01/20	60%

Thus, a subsequent Purchase Payment made on October 2, 2015, will provide only a 70% guarantee whereas a subsequent Purchase Payment made on October 1, 2015, will provide an 85% guarantee. (See Example 10 in this Appendix.) It may be disadvantageous for you to make any such Purchase Payments that increase the GLB amount by less than 100% of the payment.

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as Secured Returns 2. When you elect to participate in the WB Plan, we will inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit. To assist you in complying with the RMD requirements, each year, we will notify you in early January of your calculated Yearly RMD Amount and inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit.

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In the event that your Yearly RMD Amount attributable to your Contract is greater than the maximum withdrawal amount permitted each year under the WB Plan, we are currently waiving withdrawal provisions under Secured Returns 2 as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in the WB Plan, we reduce your Account Value and your remaining GLB amount, dollar for dollar, by the amount of the withdrawal. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than either your Maximum WB Amount. In other words, we will not reduce your remaining GLB amount if a Yearly RMD Amount exceeds either your Maximum WB Amount, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

If there is any change to the current Code or IRS rules governing the timing or determination of RMD amounts (including, but not limited to, amendments to the current IRS regulations or the issuance of IRS guidance), then we reserve the right to reduce the remaining GLB amount per the terms of the rider regarding excess withdrawals, when a Yearly RMD Amount withdrawn from your Contract exceeds your Maximum WB Amount. Notice will be given to Contract Owners before we exercise this right.

If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in the AB Plan, we reduce your Account Value by the amount of the withdrawal and your GLB amount proportionally.

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

ALL OF THE FOLLOWING EXAMPLES ARE BASED UPON THE ASSUMPTION YOU ELECTED SECURED RETURNS 2 ON JANUARY 1, 2005 WITH AN INITIAL PURCHASE PAYMENT OF $100,000. YOUR INITIAL GLB AMOUNT EQUALS YOUR PURCHASE PAYMENT AMOUNT OF $100,000.

EXAMPLE 1: Low investment performance; no WB election.

• Assume that you did not elect the WB plan at any time and that your Designated Fund had low investment performance. Since your Account Value was below the GLB amount of $100,000 from January 1, 2010 through January 1, 2015, the step-up feature is not available.

• Assume that on January 1, 2015, your Account Value is $85,000. Assume that your total rider charges to date are $4,625.

• Since your Account Value is less than your GLB amount by $15,000, an amount equal to $15,000 will be deposited into your Contract ($100,000 - $85,000).

EXAMPLE 2: Low investment performance; no WB election; step-up elected.

• Assume that you did not elect the WB plan at any time and that your Designated Fund had low investment performance. However, assume that your Account Value was $150,000 on January 1, 2010. Since this amount is greater than your GLB amount, you may step-up to a new 10 year period, with a new GLB amount of $150,000. Assume that you do elect to step-up.

• Your new GMAB rider maturity date is now January 1, 2020 (ten years after the date of the step-up). Assume that on January 1, 2020, your Account Value is $130,000. Assume that your total rider charges to date are $10,125.

• Since your Account Value is lower than your stepped-up GLB by $20,000, an amount equal to $20,000 will be deposited into your Contract ($150,000 - $130,000).

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EXAMPLE 3: High investment performance; no WB election; refund applies.

• Assume that you did not elect the WB plan at any time and that your Designated Fund had high investment performance. Assume that your Account Value was $150,000 on January 1, 2010. Since this amount is greater than your GLB amount, you may step-up to a new 10-year period, with a new GLB amount of $150,000. Assume that you do not elect to step-up.

• Assume that on January 1, 2015, your Account Value is $200,000. Assume that your total rider charges to date are $7,500.

• Because your Account Value is greater than the GLB amount of $100,000, your account will be credited with the amount of your rider charges, increasing your Account Value to $207,500.

EXAMPLE 4: Low investment performance; WB election.

• Assume that you elect the WB plan at the beginning of the second Account Year and then choose to systematically withdraw the maximum WB amount (i.e., 7% of the $100,000 remaining GLB amount, or $7,000).

• On December 31, 2006, your remaining GLB amount will be $93,000. Assume that, on this date, your Account Value is $91,000.

• On December 31, 2007, your remaining GLB amount will be $86,000. Assume that, on this date, your Account Value is $80,000. The $7,000 withdrawals continue for seven more years. Assume that from January 1, 2010 through December 31, 2014, your Account Value is less than your remaining GLB amount. Therefore, the step-up feature is not available.

• On December 31, 2014, your remaining GLB amount will be $37,000. Assume that, on this date, your Account Value is $0.

• These withdrawals of $7,000 continue until the remaining GLB amount runs out in year 2020. At that time, Secured Returns 2 terminates.

EXAMPLE 5: High investment performance; WB election; step-up elected.

• Assume that you elect the WB plan at the beginning of the second Account Year and then choose to systematically withdraw the maximum WB amount (i.e., 7% of the $100,000 remaining GLB amount, or $7,000).

• On December 31, 2006, your remaining GLB amount will be $93,000. Assume that, on this date, your Account Value is $95,000.

• On December 31, 2007, your remaining GLB amount will be $86,000. Assume that, on this date, your Account Value is $90,000. The $7,000 withdrawals continue for two more years. Assume that on January 1, 2010, your Account Value is $80,000 and your remaining GLB amount is $72,000. Since your Account Value is greater than your remaining GLB amount, you may step-up your remaining GLB amount to $80,000. Assume you elect to step-up. Your maximum WB amount is calculated as 7% of $80,000 = $5,600. However, since this is less than your current maximum WB amount of $7,000, your maximum WB amount will remain at $7,000.

• Assume you continue to withdraw $7,000 per year for four more years. On December 31, 2013, your remaining GLB amount will be $52,000. Assume that, on this date, your Account Value is $56,000.

• These $7,000 withdrawals continue. On December 31, 2020, the remaining GLB amount equals $3,000. Assume that, on this date, your Account Value equals $20,000.

• Assume that you withdraw $3,000 on February 12, 2021. At this time, the remaining GLB amount is reduced to zero and Secured Returns 2 terminates and the annual fee stops. However, because there is a remaining Account Value, the Contract continues.

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EXAMPLE 6: Withdrawals under the AB Plan; low investment performance.

• Assume that you did not elect the WB plan at any time.

• Assume that on January 1, 2006, you withdraw 10% of your Account Value of $110,000 (or $11,000). Your Account Value is now $99,000.

• On January 1, 2006, your GLB amount will be reset to $90,000 (the previous GLB amount reduced proportional to the amount of Account Value withdrawn).

• Assume you make no more withdrawals or Purchase Payments and that your Account Value on January 1, 2015 is $87,000. Assume that your total rider charges to date are $4,710.

• Since your Account Value is less than your GLB amount by $3,000, an amount equal to $3,000 will be deposited into your Contract ($90,000 - $87,000).

EXAMPLE 7: Withdrawals under the WB Plan; low investment performance.

• Assume that you elect the WB plan at the beginning of your second Account Year. The maximum WB amount would be $7,000 (i.e., 7% of the $100,000 remaining GLB amount). However, assume no withdrawals are made. On July 1, 2006, assume that your Account Value is $95,000. The remaining GLB amount is still $100,000, and the maximum WB amount is still $7,000.

• Assume that you make a withdrawal of $5,000 on September 3, 2006. Your remaining GLB amount is now $95,000. Assume that your Account Value is now $88,000.

• Assume that you make another withdrawal of $5,000 on April 5, 2007. This is now a new Account Year, so the maximum WB amount has not been exceeded yet. Your remaining GLB amount is now $90,000. Assume that your Account Value is now $80,000.

• Assume that you make another withdrawal of $5,000 on September 18, 2007. Your total withdrawals in the current Account Year are now $10,000 and exceed the WB maximum of $7,000. Assume that your Account Value is $79,000 just before the withdrawal, and $74,000 just after the withdrawal.

• Because your withdrawals exceeded the maximum WB amount, your remaining GLB amount is reduced to the lesser of your previous remaining GLB amount reduced dollar for dollar for the withdrawal ($90,000 - $5,000), and your current Account Value ($74,000). Therefore, your new remaining GLB amount is $74,000. Your maximum WB amount is reduced so that the date on which the remaining GLB expires will be the same date it would have expired had the maximum WB been withdrawn every year (i.e., ($90,000 - $2,000) ÷ $7,000 = 12.57 years). Thus the new maximum WB amount becomes $5,887 ($74,000 ÷ 12.57).

EXAMPLE 8: Withdrawals under the WB Plan; high investment performance; step-up elected.

• Assume that you elect the WB plan at the beginning of your second Account Year. The maximum WB amount would be $7,000 (i.e., 7% of the $100,000 remaining GLB amount). However, assume you make no withdrawals. On February 1, 2010, assume that your Account Value is $124,000. Since your Account Value is greater than your remaining GLB amount, you may step-up your remaining GLB amount to $124,000. Assume that you do not step-up. Your remaining GLB amount is still $100,000, and the maximum WB amount is still $7,000.

• Assume that on March 3, 2010, your Account Value is now $125,000. You now make a withdrawal of $5,000. Your remaining GLB amount is now $95,000. Your Account Value is now $120,000. Since your Account Value is greater than your remaining GLB amount, you may step-up your remaining GLB amount to $120,000. Assume that you do step-up. Your maximum WB amount is calculated as 7% of $120,000 = $8,400. Since this is greater than your current maximum WB amount of $7,000, your maximum WB amount increases to $8,400.

• Assume that you wish to make another withdrawal on October 5, 2010. Because you have already withdrawn $5,000 in the current Account Year, you can withdraw $3,400 ($8,400 - $5,000) without exceeding your WB maximum. Assume that you withdraw this $3,400. Your remaining GLB amount is now $116,600 ($120,000 - $3,400). Assume that your Account Value is now $118,000.

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• On January 2, 2011 you begin a new Account Year. Therefore, you can withdraw $8,400 in this new Account Year without exceeding your WB maximum. Assume that you do withdraw $8,400 in this Account Year. On December 31, 2011, the remaining GLB amount equals $108,200. Assume that, on this date, your Account Value equals $110,000.

• Assume that you continue to withdraw $8,400 each Account Year. On December 31, 2023, the remaining GLB amount equals $7,400. Assume that, on this date, your Account Value equals $30,000.

• Assume that you withdraw $7,400 on March 12, 2024. At that time, the remaining GLB amount is reduced to zero and Secured Returns 2 terminates and the annual fee stops. However, because there is a remaining Account Value, the Contract continues.

EXAMPLE 9: Withdrawals with Subsequent Purchase Payments under the AB Plan; low investment performance.

• Assume that you did not elect the WB Plan at any time.

• On June 1, 2010, you make an additional $80,000 Purchase Payment.

• On June 1, 2010, your GLB amount is $168,000 [$100,000 + ($80,000 x 85%)].

• Assume that, on June 1, 2011, you withdraw $40,000 and that your Account Value is $240,000 at this time. After the withdrawal, your Account Value is $200,000.

• On June 1, 2011, your GLB amount is reset to $140,000. This equals the previous remaining GLB amount reduced proportional to the amount of Account Value withdrawn, or $168,000 x [1 – (40,000 ÷ 240,000)].

• Assume you make no more withdrawals or Purchase Payments and that your Account Value on January 1, 2015, is $125,000. Assume that your total rider charges to date are $6,670.

• Since your Account Value is less than your GLB amount by $15,000, an amount equal to $15,000 will be deposited into your Contract ($140,000 - $125,000).

EXAMPLE 10: Step-up and Subsequent Purchase Payments under the AB Plan; high investment performance; step-up elected; refund applies.

• Assume that you did not elect the WB Plan at any time and that your Designated Fund had high investment performance. Assume that your Account Value is $150,000 on January 1, 2010. Since this amount is greater than your GLB amount, you may step-up to a new 10-year period, with a new GLB amount of $150,000. Assume that you do elect to step-up.

• On June 1, 2011, you make an additional $80,000 Purchase Payment.

• On June 1, 2011, your GLB amount is $230,000 [$150,000 + ($80,000 x 100%)]. Since it has only been one year since the step-up was elected, the GLB amount is increased by 100% of the new Purchase Payment amount.

• Your new AB Plan maturity date is now January 1, 2020 (ten years after the date of the step-up). Assume that on January 1, 2020 your Account Value is $280,000. Assume that your total rider charges to date are $15,130.

• Because your Account Value is greater than the GLB amount of $230,000, your account will be credited with the amount of your rider charges, increasing your Account Value to $295,130.

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EXAMPLE 11: Withdrawals with Subsequent Purchase Payments under the WB Plan.

• Assume that you elect the WB plan at the beginning of the second Account Year and then choose to systematically withdraw the maximum WB amount (i.e., 7% of the $100,000 remaining GLB amount or $7,000).

• On January 1, 2007, your remaining GLB amount will be $93,000. Assume that, on this date, your Account Value is $91,000.

• On January 6, 2007, you make an additional Purchase Payment of $50,000.

• Your remaining GLB amount is reset to $143,000 ($93,000 + $50,000).

• Your maximum WB amount is reset to $10,500 [$7,000 + (7% x $50,000)].

• Assume you increase your annual withdrawals to equal the maximum WB amount of $10,500.

• On January 1, 2008, your remaining GLB amount is $132,500 ($143,000 - $10,500). Assume that you make no additional Purchase Payments and the maximum WB amount is withdrawn annually.

• Assume that on January 1, 2016, your Account Value is $0. Your remaining GLB amount will be $48,500 [$132,500 – ($10,500 x 8 years)]. Withdrawals of $10,500 will continue until the remaining GLB amount runs out in year 2020. At that time, the Secured Returns 2 terminates.

EXAMPLE 12: Calculation of explicit rider charges.

• Assume that you did not elect the WB plan at any time. Assume that your Account Value increases at an annual rate of 5% per year throughout the first ten years. Also assume that you do not elect to step-up at any time.

• On March 31, 2005, your Account Value before the charge for Secured Returns 2 is taken is $101,196.79. The charge deducted on March 31, 2005 is $126.50 ($101,196.79 x .00125). Therefore, your ending Account Value on March 31, 2005 is $101,070.29 ($101,196.79 - $126.50).

• On June 30, 2005, your Account Value before the charge for Secured Returns 2 is taken is $102,307.23. The fee deducted on June 30, 2005 is $127.88 ($102,307.23 x .00125). Therefore, your ending Account Value on June 30, 2005 is $102,179.35 ($102,307.23 - $127.88).

• On September 30, 2005, your Account Value before the charge for Secured Returns 2 is taken is $103,443.69. The fee deducted on September 30, 2005 is $129.30 ($103,443.69 x .00125). Therefore, your ending Account Value on September 30, 2005 is $103,314.39 ($103,443.69 - $129.30).

• This pattern continues until the maturity date for your Benefit of January 1, 2015. On that date, your Account will be credited with a payment. If your current Account Value is less than your current GLB amount, then your Account will be credited with the difference between these two amounts. If your current Account Value is greater than your current GLB amount, then your Account will be credited with the sum of all of Secured Returns 2 charges that have been made. Note that if Secured Returns 2 was revoked or cancelled before the maturity date for your Benefit of January 1, 2015, then no Secured Returns 2 credit will be made to your Account.

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APPENDIX J - SECURED RETURNS FOR LIFE PLUS ^SM

The optional living benefit known as Secured Returns for Life Plus (“Secured Returns for Life Plus,” “Benefit,” or “the rider”) was available for Contracts purchased on or after April 11, 2006, and prior to February 17, 2009. The following information applies to your Contract if you elected to participate in Secured Returns for Life Plus. Secured Returns for Life Plus is no longer available for sale on new Contracts. Since we are no longer offering Secured Returns for Life Plus to new Owners, renewals are no longer available.

Secured Returns for Life Plus provides a guarantee of a return of your initial Purchase Payment (adjusted for subsequent Purchase Payments and withdrawals), during the accumulation period regardless of the investment performance of the Designated Funds, provided that you comply with certain requirements. The amount guaranteed can be greater than or less than your Account Value. The guaranteed amount can be paid out under a Guaranteed Minimum Accumulation Benefit (“AB”) Plan, which provides for a return of your guaranteed amount on the AB Plan Maturity Date, or a Guaranteed Minimum Withdrawal Benefit (“WB”) Plan, which provides for a return of your guaranteed amount through periodic withdrawals or, if you meet certain conditions, payments for life. (You should note that the Benefit does not, in all cases, guarantee payments “for Life.” Certain actions you take may reduce, and even terminate, your Benefit, including reducing your Account Value to zero and thereby terminating your Contract without value.)

In addition, Secured Returns for Life Plus includes a bonus feature (called the “Plus 5 Program”) that may increase the guaranteed amount under the WB Plan provided no withdrawals are taken during an Account Year. These bonuses will not increase your guaranteed amount under the AB Plan. We will, however, keep track of any bonuses while you are in the AB Plan and apply them to the WB Plan, if and when you transfer into the WB Plan. The bonuses under the Plus 5 Program are discussed further in this Appendix under “Plus 5 Program.”

We use the following definitions to describe how Secured Returns for Life Plus works:

AB Plan Maturity Date:	The date when the AB Plan matures. If you are younger than 85 on the Issue Date, your AB Plan Maturity Date is the later of your 10th Account Anniversary or 10 years from the date of your last step-up. (See “Step-Up.”) If you are 85 on the Issue Date, your AB Plan Maturity Date is your Maximum Annuity Commencement Date.
Plus 5 Period:	The period of time equal in length to the first 10 Account Years; or, if less than 10 years, the period of time up to the Account Year in which the oldest Participant attains age 80.
Bonus Base:	An amount that is equal to the initial Purchase Payment on the date the Contract is issued, and later is adjusted for any subsequent Purchase Payments, step-ups, and partial withdrawals made during the Plus 5 Period.
Guaranteed Living Benefit Amount (the “GLB amount”):	The minimum amount guaranteed under the Contract while you are participating in the AB Plan. The GLB amount is initially equal to your initial Purchase Payment, which is adjusted for any subsequent Purchase Payments, step-ups, and partial withdrawals. The GLB amount is also used to set the RGLB amount on the date you elect the WB Plan.

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Remaining Guaranteed Living Benefit Amount (the “RGLB amount”):	The minimum amount guaranteed if you elected the WB Plan. The RGLB amount equals the GLB amount plus any accrued bonus amount on the date you choose to participate in the WB Plan. This amount will be adjusted for subsequent Purchase Payments, step-ups, bonus amounts, and partial withdrawals.
Guaranteed Living Benefit Base (the “GLB Base”):	A value equal to the RGLB amount on the date you elect to participate in the WB Plan. The GLB Base is adjusted later for any subsequent Purchase Payments, step-ups, bonus amounts, and partial withdrawals. The GLB Base is used to establish the Maximum WB Amount.
Lifetime Income Base:	A value equal to the RGLB amount on the WB Plan election date, if you are age 60 or older on said date. A value equal to the RGLB amount on the Account Anniversary on or immediately following your 59th birthday, if you are less than age 60 on the WB Plan election date. The Lifetime Income Base is adjusted later for any subsequent Purchase Payments, step-ups, bonus amounts, and partial withdrawals. The Lifetime Income Base is used to establish the Maximum WB for Life Amount.
Maximum WB Amount:	The maximum guaranteed amount available for annual withdrawal until your RGLB amount has been reduced to zero. The annual Maximum WB Amount is equal to 5% of the GLB Base.
Maximum WB For Life Amount:	The maximum guaranteed amount available for annual withdrawal during your lifetime. The Maximum WB for Life Amount is equal to 4% or 5% of the current Lifetime Income Base depending upon the age of the Participant on the date of the first withdrawal under the WB Plan or most recent Step-Up Date. If your Contract is co-owned, the age of the oldest Participant will be used to determine the Maximum WB for Life Amount. (You should be aware that the Maximum WB for Life Amount is not a guaranteed amount. Certain actions you take could reduce the value of your Maximum WB for Life Amount to zero.)
You and Your:	Under this optional living benefit, the terms “you” and “your” refer to the oldest Participant or the surviving spouse of the oldest Participant as described under “Death of Participant Under the AB Plan” and “Death of Participant Under the WB Plan.” In the case of a non-natural Participant, these terms refer to the oldest Annuitant.

We also use the following acronyms when discussing the features of Secured Returns for Life Plus:

WB Plan	Guaranteed Minimum Withdrawal Benefit Plan
AB Plan	Guaranteed Minimum Accumulation Benefit Plan
GLB Amount	Guaranteed Living Benefit Amount
RGLB Amount	Remaining Guaranteed Living Benefit Amount

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Maximum WB Amount	Maximum Guaranteed Minimum Withdrawal Benefit Amount
Maximum WB for Life Amount	Maximum Guaranteed Minimum Withdrawal Benefit for Life Amount

To participate in Secured Returns for Life Plus, all of your Account Value must be invested in a Designated Fund at all times during the term of the plan: a 10-year period under the AB Plan or, if you elected the WB Plan, until the RGLB amount is reduced to zero and the Lifetime Income Base is zero. The only Funds, dollar-cost averaging program options, and asset allocation models that currently qualify as Designated Funds are listed in the section entitled “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

When you elected to participate in Secured Returns for Life Plus, you are automatically enrolled in the AB Plan. At any time, you may elect instead to receive your benefits under the WB Plan, provided that you make the election prior to the earliest of the date your AB Plan matures, the Contract’s Maximum Annuity Commencement Date, and the date you annuitize. Once you elect to participate in the WB Plan, you may not change your election to the AB Plan. If you do not specifically elect the WB Plan, you will be deemed to have elected to remain in the AB Plan.

Guaranteed Minimum Accumulation Benefit (“AB”) Plan

Under its terms, the AB Plan matures on the AB Plan Maturity Date. On that date, we will credit your Account Value with any excess of your GLB amount over your Account Value after adjusting for any Contract charges or credits. Any such amount will be allocated to the Designated Fund in which you are invested at that time.

Your GLB amount and your Bonus Base are equal to the sum of 100% of your initial Purchase Payment plus a specified percentage of any subsequent Purchase Payments, adjusted in amount for step-ups (described in this Appendix under “Step-Up”) and partial withdrawals. If you make one or more subsequent Purchase Payments during the 10-year period, the period will not restart. Rather, the percentage of guaranteed return for each subsequent Purchase Payment after the second Account Anniversary will be reduced depending upon the Account Year in which it was made, as follows:

Account Year in which Purchase Payment was made	Percentage added to the GLB amount and to the Bonus Base
1 - 2	100%
3 - 5	85%
6 - 8	70%
9 - 10	60%

Note that the timing and amount of subsequent Purchase Payments and withdrawals may significantly affect the total Secured Returns for Life Plus Benefit. In particular, Purchase Payments made after the second Account Year may significantly reduce the value of this Benefit to you.

If your Account Value is greater than your GLB amount on the AB Plan Maturity Date, we will credit your Account Value with an amount equal to the charges you paid for Secured Returns for Life Plus. (See “Refund of Secured Returns for Life Plus Charges Under the AB Plan” in this Appendix.) For examples of how we calculate benefits under the AB Plan, see Examples 1 and 2 in this Appendix.

Guaranteed Minimum Withdrawal Benefit (“WB”) Plan

Under the terms of the WB Plan, you are guaranteed a return of your RGLB amount even if your Account Value becomes zero. Each Account Year during which the WB Plan is in effect, you can withdraw up to your Maximum WB Amount until your RGLB amount has been depleted. Once the RGLB amount is reduced to zero, your GLB Base is permanently set to zero as well. However, if you exceed your Maximum WB Amount in any one Account Year, your RGLB and future guaranteed withdrawals will be reduced in the manner described in this Appendix under “Withdrawals Under Secured Returns for Life Plus.”

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The WB Plan also guarantees that, if you have chosen the WB Plan and if you are age 60 or older, you can withdraw up to your Maximum WB for Life Amount every Account Year that you are alive, even if your Account Value has been depleted. If you are younger than age 60, you may withdraw up to your Maximum WB for Life Amount every Account Year after your first Account Anniversary following your 59th birthday. If you exceed your Maximum WB for Life Amount in any one Account Year, the amount of your subsequent guaranteed lifetime withdrawals will be reduced in the manner discussed in this Appendix under “Withdrawals Under Secured Returns for Life Plus.”

Your Guaranteed Living Benefit Base is also set equal to the RGLB amount on the date you elect to participate in the Guaranteed Minimum Withdrawal Benefit Plan. Your Maximum WB Amount is a set dollar amount equal to 5% of your GLB Base. On the day you elect to participate in the WB Plan, we set your RGLB amount to equal your GLB amount as described above under “Guaranteed Minimum Accumulation Benefit (“AB”) Plan” plus any accrued bonuses. This value is used to determine your Maximum WB for Life Amount as discussed further below.

To calculate your Maximum WB for Life Amount, we must first determine your Lifetime Income Base. The Lifetime Income Base is an amount equal to the RGLB amount on:

• the date you elected to participate in the WB Plan if you are age 60 or older on that date, or

• your first Account Anniversary after your 59th birthday, if you are 59 or younger on the date you elect to participate in the WB Plan.

The Maximum WB for Life Amount will then be calculated, based upon your age on the date of the first withdrawal under the WB Plan, as follows:

Your Age on Date of First Withdrawal under WB Plan	Maximum WB for Life Amount
65 or older	5% of the Lifetime Income Base
64 or younger	4% of the Lifetime Income Base

You are not required to make any withdrawals after you have elected the WB Plan; however, each time you make a withdrawal, we determine whether the withdrawal has exceeded the Maximum WB Amount, the Maximum WB for Life Amount, or both. If you have exceeded the Maximum WB Amount or the Maximum WB for Life Amount, we determine the new maximum amount(s) for future withdrawals. In any one Account Year, withdrawals in excess of your Maximum WB Amount or your Maximum WB for Life Amount may reduce or eliminate your future guaranteed withdrawals, possibly reducing the guaranteed minimum withdrawal benefit to an amount less than the sum of your Purchase Payments. (See “Withdrawals Under Secured Returns for Life Plus” in this Appendix.)

Provided your RGLB amount and Account Value have not been reduced to zero, any Purchase Payment made after you have elected the WB Plan, and before your fourth Account Anniversary, will increase your RGLB amount, your GLB Base, your Bonus Base, and your Lifetime Income Base each by 100% of such Purchase Payment. Therefore, your Maximum WB Amount will equal 5% of your new GLB Base. Your Maximum WB for Life Amount will equal 4% or 5% of your new Lifetime Income Base, depending upon your age on the date of your first withdrawal under the WB Plan as shown in the above chart or your most recent “Step-Up Date,” described in this Appendix under “Step-Up.” Under the WB Plan, after your fourth Account Anniversary, you may not make any additional Purchase Payments unless your Benefit under the rider has been cancelled, terminated, or revoked. After the fourth Account Anniversary, any Purchase Payments you submit while participating in the WB Plan will be returned to you.

For examples of how we calculate benefits under the WB Plan, see Examples 5 and 6 in this Appendix.

Plus 5 Program

The Plus 5 Program gives you the opportunity to increase your Secured Returns for Life Plus Benefit if you defer taking withdrawals. That is to say, if you have selected the Benefit and you do not take any withdrawals in the early Account Years, you will be able to take larger withdrawals in the later Account Years. Under Secured Returns for Life Plus, the Plus 5 Program is automatically available to you during your first 10 Account Years (the “Plus 5 Period”).

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However, if you are 70 or older on the Issue Date, the Plus 5 Period ends on your 80th birthday. Under the Plus 5 Program, if you do not take any withdrawals during any one or more Account Years, we will automatically calculate a bonus based upon your initial Purchase Payment (the “Bonus Base”) and adjusted for additional Purchase Payments, step-ups, and partial withdrawals. Although we calculate the amount of your bonus each year regardless of whether you are participating in the AB Plan or the WB Plan, you can benefit from any bonus amount only if you choose to participate in the WB Plan, as follows:

• Assume you are participating in the AB Plan. Under this Plan, you only have the potential for increasing the amount of your withdrawals in later Account Years. For each year you do not take a withdrawal during the Plus 5 Period, we will calculate a bonus equal to 5% of your Bonus Base and add it to an existing accrued bonus amount. The bonuses you earn will accumulate but will not increase your Account Value, your GLB amount, or any guarantee payments you receive under the AB Plan. If you choose to switch to the WB Plan, that potential for larger withdrawals will be realized. When you switch to the WB Plan, we will set your RGLB amount to equal your GLB amount plus any bonuses accumulated under your Contract while you were participating in the AB Plan.

• Assume you are participating in the WB Plan. Under this Plan, the potential for larger withdrawals will be realized. Each year you do not take a withdrawal during the Plus 5 Period, we will not only calculate a bonus equal to 5% of your Bonus Base, but we will add that bonus to your RGLB amount on your Account Anniversary (prior to calculating your new GLB Base or Lifetime Income Base). In this way, your withdrawals under the WB Plan will be larger in the later years than they would have been without the Plus 5 Program. Each time we add a bonus to the RGLB amount, we will also recalculate your GLB Base and Lifetime Income Base as described below.

After the addition of any bonus, your new GLB Base will be the greater of:

• your GLB Base prior to the addition of the amount of any bonus, and

• your RGLB amount after the addition of any applicable bonus.

If your age is within our age limitations, we will calculate a new Lifetime Income Base. Your new Lifetime                 Income Base will be equal to the greater of:

• your Lifetime Income Base prior to the addition of the bonus amount, and

• the lesser of:

• your RGLB amount after the addition of the bonus amount, and

• your previous Lifetime Income Base plus the addition of any bonus amount.

While you are participating in the AB Plan during the Plus 5 Period, any bonuses that apply to your Contract will only accumulate and will not increase your GLB amount or any guarantee payments you receive under the AB Plan. However, for each Account Year that you do not take a withdrawal during the Plus 5 Period, the bonus will be calculated and added to the existing accrued bonus amount. Before taking a withdrawal during the Plus 5 Period, you should carefully consider the negative effect this will have on your Plus 5 bonuses.

When and if you elect to participate in the WB Plan, your RGLB amount is set equal to your GLB amount plus any bonuses accumulated under your Contract while you were participating in the AB Plan. Your accrued bonus amount will then be set at zero. Any future bonus amounts, if applicable, while you are participating in the WB Plan, will be added each year, as described above.

Bonuses under the Plus 5 Program do not increase your Account Value; you can benefit from any such bonus only if you choose the WB Plan.

Cost of Secured Returns for Life Plus

Unlike other Contract charges, the charge for Secured Returns for Life Plus will not be calculated as a percentage of average daily net assets as described under “Variable Accumulation Unit Value” in the prospectus to which this

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Appendix is attached. Instead, the charge for the Benefit will be made as a specific deduction from the Account Value, taken on the last valuation day of the Account Quarter. The charge per year for Secured Returns for Life Plus is currently equal to 0.50% of your Account Value. The quarterly charge will be determined by multiplying the Account Value at the end of the Account Quarter by 0.125%. (See Example 18 in this Appendix.) The specific amount of the quarterly charge will be reflected on your quarterly account statement. The maximum charge you can pay for Secured Returns for Life Plus in any one Account Year is equal to 0.50% of the highest Account Value at any point in that Account Year.

We will continue to deduct this charge until:

• you annuitize or

• under the provisions of Secured Returns for Life Plus:

• your Benefit matures;

• your Benefit is revoked (see “Revocation of Secured Returns for Life Plus” in this Appendix); or

• your RGLB amount and your Lifetime Income Base are both reduced to zero under the WB Plan.

Cancellation of the Benefit (caused by a transfer out of the Designated Fund, a Purchase Payment allocation to a non-Designated Fund, or an assignment) will not terminate the charge, until the 7th Account Anniversary. (See “Cancellation of Secured Returns for Life Plus” in this Appendix.)

Withdrawals Under Secured Returns for Life Plus

All withdrawals under Secured Returns for Life Plus are subject to withdrawal charges if they are in excess of your annual free withdrawal amount. (See “Free Withdrawal Amount” under “Withdrawal Charge” in the prospectus to which this Appendix is attached) In addition, any withdrawals you take under Secured Returns for Life Plus may reduce the value of your Benefit under the rider. Such withdrawals affect your Benefit differently depending upon whether you are participating in the AB Plan or the WB Plan. In either case, however, a withdrawal may reduce the value of the Benefit by an amount greater than the amount of the withdrawal.

Assume you are participating in the AB Plan. Any withdrawals you make will reduce the dollar value of your Benefit under this rider proportionally to the amount withdrawn. For example, after a partial withdrawal, the new GLB amount will equal

old GLB amount	X	Account Value immediately after partial withdrawal
		Account Value immediately before partial withdrawal

Therefore, on your AB Maturity Date, instead of crediting your Account Value with the full amount of your Benefit, we will reduce the amount we credit proportionally to the amount withdrawn.

You should be aware that, if your Account Value is less than the amount of your Benefit at the time a withdrawal is taken, your GLB amount will be reduced by an amount equal to or more than the amount withdrawn. Thus, withdrawals taken in a down market could severely reduce, and even terminate, your benefits under Secured Returns for Life Plus, including reducing your Account Value to zero and thereby terminating your Contract without value.

We will also proportionally reduce your Bonus Base and any accrued bonuses using a similar calculation. (See Example 3 in this Appendix.) However, as discussed in detail in this Appendix under “Plus 5 Program,” even though the Bonus Base and accrued bonuses are calculated while you are in the AB Plan, you can benefit from any bonus amount only if you choose to participate in the WB Plan.

Assume you are participating in the WB Plan and you want to receive the full amount of your guaranteed benefit over a period of years. To maximize your guaranteed benefit, you may withdraw no more than a specified amount each year. In other words, each year, you may withdraw no more than your Maximum WB Amount. Your guaranteed benefit amount (the RGLB amount) will be reduced by the amount of the withdrawal, but your Maximum WB Amount will remain unchanged. In other words, you will be able to take the same maximum amount each year until your guaranteed benefit amount is completely withdrawn.

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If, however, in any one Account Year, you withdraw more than the current Maximum WB Amount, the dollar value of your guaranteed benefits will be reduced and the amount of each future annual guaranteed withdrawal will be less. You should be aware that, if you withdraw more than your Maximum WB Amount at time when your Account Value is less than the amount of your Benefit, your RGLB amount will be reduced by an amount equal to or more than the excess amount withdrawn. Thus, withdrawals taken in a down market could severely reduce, and even terminate, your benefits under Secured Returns for Life Plus, including reducing your Account Value to zero and thereby terminating your Contract without value.

Here is how we calculate the benefit reduction. Your new RGLB amount will be the lesser of:

• your previous RGLB amount, reduced by the amount of the withdrawal, and

• your Account Value after the withdrawal.

Your new GLB Base will be the lesser of:

• your previous GLB Base reduced by the amount of the withdrawal in excess of the Maximum WB Amount, and

• your Account Value after the withdrawal.

Your new Bonus Base will be the lesser of:

• your previous Bonus Base reduced by the amount of the withdrawal in excess of the Maximum WB Amount, and

• your Account Value after the withdrawal.

Your new Maximum WB Amount will be 5% of your new reduced GLB Base. Going forward, this will be the maximum amount that you can withdraw annually without further reducing your Benefit.

The Maximum WB Amount is not cumulative. If you withdraw less than the Maximum WB Amount in any one Account Year, you cannot add that unused portion to withdrawals made in future years to increase the Maximum WB Amount.

Assume you are participating in the WB Plan and you want to receive a guaranteed annual amount for the rest of your life. To maximize your guaranteed benefit, you may withdraw no more than a specified amount each year. Under this scenario, you may withdraw no more than your Maximum WB for Life Amount. Your guaranteed benefit amount (the RGLB amount) will be reduced by the amount of such withdrawals, but your Maximum WB for Life Amount will remain unchanged. In other words, you will be able to take the same maximum amount each year as long as you are alive, subject to the other terms and conditions described herein.

If, however, in any one Account Year, you withdraw more than the current Maximum WB for Life Amount, the dollar value of your guaranteed benefits will be reduced and the amount of each future annual guaranteed withdrawal will be less. Here is how we calculate the benefit reduction. Your new Lifetime Income Base will be the lesser of:

• your previous Lifetime Income Base reduced by the amount of the withdrawal in excess of the Maximum WB for Life Amount, and

• the Account Value after the withdrawal.

Your new Maximum WB for Life Amount will be determined based upon your age on the date of the first withdrawal under the WB Plan (or your age on the most recent “Step-Up Date,” if later) as follows:

Your Age on the later of Date of First  Withdrawal under WB Plan or Most Recent Step-Up Date	New Maximum WB for Life Amount
65 or older	5% of the new Lifetime Income Base
64 or younger	4% of the new Lifetime Income Base

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The Maximum WB for Life Amount is not cumulative. That is to say, the unused portion in any Account Year cannot be applied in future years to increase the Maximum WB for Life Amount.

In general when participating in the WB Plan, you should keep the following in mind:

• A withdrawal in excess of the Maximum WB Amount or the Maximum WB for Life Amount might reduce and even terminate your Secured Returns for Life Plus Benefits, including reducing your Account Value to zero and thereby terminating your Contract without value.

• If your Account Value drops to zero and, in the same year, you withdraw more than your Maximum WB Amount or your Maximum WB for Life Amount, your benefits under Secured Returns for Life Plus will terminate and your Contract will terminate without value.

• If your Account Value drops to zero but you did not, in the same year, withdraw more than your Maximum WB Amount or your Maximum WB for Life Amount, your benefits under Secured Returns for Life Plus will continue. However, no subsequent Purchase Payment will be accepted, no death benefit or annuity benefits will be payable, and all benefits under your Contract, except the right to continue annual withdrawals under this rider, will terminate. You will have two choices:

(1) You could choose to receive the Maximum WB for Life Amount, if any, until you die. In that case, after your death, your Beneficiary receives the Maximum WB Amount until the RGLB amount, if any, is reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted under Federal Tax Laws, the RGLB amount must be fully distributed by December 31^st of the tenth year after your death); or

(2) You (or your Beneficiary if you have died) could choose to receive the Maximum WB Amount until the RGLB amount, if any, is reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted under Federal Tax Laws, the RGLB amount must be fully distributed by December 31^st of the tenth year after your death.)

If you do not make a choice, we will default you to option 1.

For examples showing how withdrawals affect your benefits under the WB Plan, see Examples 5 through 7 and Examples 11 and 12 in this Appendix.

Annuitization Under the WB Plan

Under the WB Plan, if your Account Value is greater than zero on the Maximum Annuity Commencement Date, you may annuitize your Contract rather than receiving periodic payments under the WB plan. If no prior election to annuitize is on file with the Company, on the Maximum Annuity Commencement Date you may elect to:

• annuitize the Contract as described under “THE INCOME PHASE - ANNUITY PROVISIONS” in the prospectus to which this Appendix is attached;

• surrender your Contract;

• receive the Maximum WB Amount each year until the RGLB amount is reduced to zero; or

• receive the Maximum WB for Life Amount each year until a Participant dies and, thereafter, allow the Beneficiary to receive the Maximum WB Amount until the RGLB amount, if any, is reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted under Federal Tax Laws, the RGLB amount must be fully distributed by December 31^st of the tenth year after your death.)

Regardless of whether you elect to annuitize, surrender or receive payments under the WB plan, all other Contract benefits, including the death benefit, will terminate on the Annuity Commencement Date. If you fail to make an election, we may automatically annuitize your Contract and provide a life annuity with 120 monthly payments certain. Note that the Maximum Annuity Commencement Date permitted under this Contract is the first day of the month following the Annuitant’s 95^th birthday. See “Selection of Annuity Commencement Date” in the prospectus to which this Appendix is attached.

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Cancellation of Secured Returns for Life Plus

Transfers among the Designated Funds are permitted as described in the prospectus to which this Appendix is attached under “Transfer Privilege.” If, however, you transfer some or all of your Account Value out of the Designated Funds, the Secured Returns for Life Plus benefits will be automatically cancelled. Likewise, if you allocate one or more subsequent Purchase Payments to an investment option other than one of the Designated Funds, the Secured Returns for Life Plus benefits will be cancelled. A change of ownership of the Contract may also cancel Secured Returns for Life Plus.

Once Secured Returns for Life Plus has been cancelled, it cannot be reinstated. After cancellation of the benefits, you will continue to pay the annual charge for Secured Returns for Life Plus until your 7th Account Anniversary.

Revocation of Secured Returns for Life Plus

Any time after your 7th Account Anniversary, you may revoke Secured Returns for Life Plus. Once revoked, Secured Returns for Life Plus may not be reinstated. After Secured Returns for Life Plus has been revoked, all benefits and charges will end.

Step-Up

On or after your first Account Anniversary, you may elect to increase your guaranteed amount to your then current Account Value. Currently, this step-up election may be made on any day after your first Account Anniversary. (We reserve the right to require step-up elections to occur only within 30 days following the first or any subsequent Account Anniversary.)

If you are participating in the AB Plan, on the day we receive your step-up election notice in Good Order (the “Step-Up Date”), we will increase your GLB amount and Bonus Base to an amount equal to your Account Value on the Step-Up Date, if eligible. If you elect to step-up, at least one full year from the Step-Up Date must pass before you can elect another step-up. You can only elect to step-up if:

• your current Account Value is greater than the current GLB amount, and

• your Account Value is $5,000,000 or less on your Step-Up Date.

If you are participating in the WB Plan on the Step-Up Date, we will step up your GLB Base, your Bonus Base, your RGLB amount, and your Lifetime Income Base to an amount equal to your Account Value on the Step-Up Date, if eligible. If you elect to step-up, at least one full year from the Step-Up Date must pass before you can elect another step-up. You can only elect to step-up if:

• your current Account Value is greater than the current GLB Base and greater than the current Lifetime Income Base, and

• your Account Value is $5,000,000 or less on your Step-Up Date.

For purposes of determining the above $5,000,000 limits, we reserve the right to aggregate your Account Value with the account values of all other Delaware Life variable annuity contracts you own.

If you are in the AB Plan, your Step-Up Date must be at least 10 years prior to your Maximum Annuity Commencement Date. If you have selected an Annuity Commencement Date that is prior to the Maximum Annuity Commencement Date but is less than 10 years after your Step-Up Date, we will automatically extend your Annuity Commencement Date to equal your AB Plan Maturity Date.

Without a step-up, your benefits under the AB Plan will “mature” on the 10th Account Anniversary (the date we credit your Account with any excess of your GLB amount over your Account Value or refund your Secured Returns for Life Plus charge, i.e. the “AB Plan Maturity Date”). If you elect to step-up your GLB amount, the term of your benefits under the AB Plan will change. After you make a step-up election, your benefits under the AB Plan will mature 10

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years from the Step-Up Date, unless you elect the WB Plan any time before the AB Plan matures. (See Example 4 in this Appendix.) Accrued bonus amounts after step-up under the AB Plan will be equal to the greater of:

• the accrued bonus amount before step-up less the difference between the GLB amount after and before step-up, and

• zero.

Thus, a step-up while the AB Plan is in effect will cause a reduction in the amount of any accrued bonuses.

Following your step-up election, the rider fee will be changed to an amount equal to the Secured Returns for Life Plus fee charged on newly issued Contracts at that time. This fee may be higher than your current fee as set forth in this Appendix under “Cost of Secured Returns for Life Plus.” If we are no longer issuing new Contracts with the Secured Returns for Life Plus Rider, then the rider fee after the step-up will be set by us, based upon current market conditions at the time of the step-up. Significant changes in stock market prices, interest rate fluctuations, and competitive industry trends are among the market conditions we consider in whether to change the fee.

If you have been receiving benefits under the WB Plan, a step-up will change your Maximum WB Amount and your Maximum WB for Life Amount. Your Step-Up Date must be a date prior to your Maximum Annuity Commencement Date. After the step-up, your Maximum WB Amount will be 5% of the new GLB Base, and your Maximum WB for Life Amount will be 4% or 5% of your new Lifetime Income Base depending upon your age. If you are 65 or older on the Step-Up Date and your Maximum WB for Life Amount has been equal to 4% of your GLB Base, your Maximum WB for Life Amount will be increased to 5% of your GLB Base. Note that, if you step-up in a particular Account Year, any withdrawals previously made in that Account Year are applied against your new Maximum WB Amount and your new Maximum WB for Life Amount. (See Example 8 in this Appendix.)

If your Benefit is under the AB Plan, at the time of step-up, you can still change to the WB Plan at a later date, subject to the applicable age restrictions described in this Appendix under “Guaranteed Minimum Withdrawal Benefit (‘WB’) Plan”. (See Example 16 in this Appendix.)

Subsequent Purchase Payments After a Step-Up

Under the WB Plan, any subsequent Purchase Payment will increase, by the full amount of the payment, the RGLB amount, the GLB Base, the Bonus Base, and the Lifetime Income Base, if applicable. After your fourth Account Anniversary, if you are participating in the WB Plan, subsequent Purchase Payments are not allowed.

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Under the AB Plan, after your step-up election, any subsequent Purchase Payment will increase the GLB amount and the Bonus Base under your AB Plan by a specified percentage of the subsequent Purchase Payment. The percentage guaranteed depends upon the “Step-Up Year” in which the Payment was made. (A “Step-Up Year” is the 365-day period (366, if a leap year) commencing on your Step-Up Date.) The example below illustrates how we determine the percentage guaranteed after a subsequent Purchase Payment:

Assume you purchased a Contract on July 1, 2010, and elected to step-up your Contract on October 1, 2015. Under the AB Plan that you have elected, your Benefit matures on October 1, 2025. For any subsequent Purchase Payments you make into this Contract, your GLB amount and your Bonus Base would increase by the following percentages of such Purchase Payments:

Step-Up Year	Payments Made Between	Percentage Added to the GLB amount and the Bonus Base
1	10/02/15 - 10/01/16	100%
2	10/02/16 - 10/01/17	100%
3	10/02/17 - 10/01/18	85%
4	10/02/18 - 10/01/19	85%
5	10/02/19 - 10/01/20	85%
6	10/02/20 - 10/01/21	70%
7	10/02/21 - 10/01/22	70%
8	10/02/22 - 10/01/23	70%
9	10/02/23 - 10/01/24	60%
10	10/02/24 - 10/01/25	60%

Thus, only 70% of a subsequent Purchase Payment made on October 2, 2020 would be guaranteed, whereas 85% of a subsequent Purchase Payment made on October 1, 2020 would be guaranteed. It may be to your disadvantage to make any such Purchase Payments that increase the GLB amount by less than 100% of the payment.

Refund of Secured Returns for Life Plus Charges Under the AB Plan

If your Contract remains in the AB Plan until the AB Plan Maturity Date, and the Account Value is greater than or equal to the GLB amount, then we will refund the charges you have paid for Secured Returns for Life Plus (“Refund Amount”) by crediting the Refund Amount to your Account Value. The Refund Amount will be allocated to the Designated Fund in which you are invested on such AB Plan Maturity Date. No refund of the Secured Returns for Life Plus charges will be made if you change from the AB Plan to the WB Plan.

Death of Participant Under the AB Plan

If any Participant dies while participating in the AB Plan, all benefits and charges under Secured Returns for Life Plus will automatically terminate when we receive Due Proof of Death, unless the surviving spouse is the sole Beneficiary and elects to continue the Contract. In that case, the surviving spouse has three options under the Contract.

(1) The spouse can automatically continue in the AB Plan even though the Account Value may have been enhanced under the provisions of the death benefit. (See “Spousal Continuance” under “DEATH BENEFIT” in the prospectus to which this Appendix is attached.) The charges under Secured Returns for Life Plus will be assessed against the enhanced Account Value. The GLB amount, however, will not be reset.

(2) The surviving spouse can elect to switch to the WB Plan; however, such election must be made prior to the earliest of annuitization, the Maximum Annuity Commencement Date, and the scheduled AB Plan Maturity Date. The same WB Plan benefits will apply, except the surviving spouse will not be entitled to receive lifetime withdrawal benefits under the original optional living benefit rider.

(3) The surviving spouse can elect to participate in a new Secured Returns for Life Plus rider on the original Contract (assuming that the rider is available to new Participants at the time of election and the surviving spouse meets certain eligibility requirements) and, thus, be eligible to receive lifetime withdrawal benefits. If

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the surviving spouse makes such election: (a) the rider charge will be equal to the rider charge on newly issued Contracts; (b) the GLB amount and the Bonus Base will be equal to the Account Value after the death benefit has been credited; and (c) the spouse will be enrolled in the AB Plan. If the spouse elects to switch to the WB Plan, the GLB Base and the RGLB amount will be the GLB amount on the date the spouse elected to participate in the WB Plan. The Lifetime Income Base will be the RGLB amount on:

• the date the surviving spouse elected to participate in the WB Plan, if the spouse is age 60 or older on that date, or

• the Account Anniversary after the surviving spouse reaches age 59, if the spouse is 59 or younger on the date of the WB Plan election.

If the Contract is not continued by the surviving spouse following a Participant’s death while participating in the AB Plan, the Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Death of Participant Under the WB Plan

If any Participant dies while participating in the WB Plan, the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract or, alternatively, to receive the Maximum WB Amount on an annual basis until the RGLB amount has been reduced to zero (if the Contract is a Qualified Contract, and the Beneficiary is not your surviving spouse, or otherwise exempted under Federal Tax Laws, the RGLB amount must be fully distributed by December 31^st of the tenth year after your death.) If the surviving spouse is the sole Beneficiary and elects to continue the Contract, the spouse has two additional options under the Contract:

(1) The surviving spouse can automatically continue to participate in the WB Plan, but lifetime withdrawal benefits will not be available to the spouse. All other benefits under the WB Plan will continue, for the surviving spouse, even though the Account Value may have been enhanced under the provisions of the death benefit. (See “Spousal Continuance” under “DEATH BENEFIT” in the prospectus to which this Appendix is attached) The charges under Secured Returns for Life Plus will be assessed against the enhanced Account Value. The RGLB amount, however, will not be reset.

(2) The surviving spouse can elect to participate in a new Secured Returns for Life Plus benefit on the original contract (subject to the terms and conditions described above under “Death of Participant Under the AB Plan”) and, thus, be eligible to receive lifetime withdrawal benefits.

Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as Secured Returns for Life Plus. When you elect to participate in the WB Plan, we will inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit. To assist you in complying with the RMD requirements, each year, we will notify you in early January of your calculated Yearly RMD Amount and inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit.

In the event that your Yearly RMD Amount attributable to your Contract is greater than the maximum withdrawal amount permitted each year under the WB Plan, we are currently waiving withdrawal provisions under Secured Returns for Life Plus as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in the WB Plan, we reduce your Account Value and your RGLB amount, dollar for dollar, by the amount of the withdrawal. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than either your Maximum WB Amount, or your Maximum WB for Life Amount. In other words, we will not reduce your GLB Base, Lifetime Income Base, or Bonus Base, if a Yearly RMD Amount exceeds either your Maximum WB Amount or your Maximum WB for Life Amount, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

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If there is any change to the current Code or IRS rules governing the timing or determination of RMD amounts (including, but not limited to, amendments to the current IRS regulations or the issuance of IRS guidance), then we reserve the right to reduce the GLB Base, Lifetime Income Base, Bonus Base, or all of these amounts, per the terms of the rider regarding Excess Withdrawals, when a Yearly RMD Amount withdrawn from your Contract exceeds either your Maximum WB Amount or your Maximum WB for Life Amount. Notice will be given to Contract Owners before we exercise this right.

If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in the AB Plan, we reduce your Account Value by the amount of the withdrawal and your GLB amount, Bonus Base and any accrued bonus amounts proportionally (see “Withdrawals Under Secured Returns for Life Plus” in this Appendix).

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

ALL OF THE FOLLOWING EXAMPLES ARE BASED UPON THE ASSUMPTION THAT YOU ELECTED SECURED RETURNS FOR LIFE PLUS ON JANUARY 1, 2007 WITH AN INITIAL PURCHASE PAYMENT OF $100,000. YOUR INITIAL GLB AMOUNT EQUALS YOUR PURCHASE PAYMENT AMOUNT OF $100,000.

EXAMPLE 1: Calculation of Benefits under AB Plan.

• Assume that you are age 65 at issue. Assume that you elect the AB plan. Your GLB amount at issue and your Bonus Base at issue are both equal to $100,000 (your Purchase Payment amount). Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, your accrued bonus amount is $5,000, which equals 5% of the Bonus Base. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, your accrued bonus amount is $10,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $5,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your third Account Year. Therefore, on January 1, 2010, your accrued bonus amount is $15,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $10,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you remain in the AB plan until it “matures” on January 1, 2017. Assume that you have taken no withdrawals since your contract was issued. Your accrued bonus amount is $50,000 ($5,000 per year for ten years). Since your rider has “matured” in the AB plan, the accrued bonus amount becomes $0. Assume that your Account Value on January 1, 2017 is $88,000. Since your Account Value is less than your GLB amount by $12,000, an amount equal to $12,000 will be deposited into your Contract ($100,000 - $88,000).

EXAMPLE 2: Calculation of Benefits under AB Plan with Subsequent Purchase Payments; Refund Applies.

• Assume that you are age 65 at issue. Assume that you elect the AB plan. Your GLB amount at issue and your Bonus Base at issue are both equal to $100,000 (your Purchase Payment amount). Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, your accrued bonus amount is $5,000, which equals 5% of the Bonus Base. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, your accrued bonus amount is $10,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $5,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

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• Assume that on May 20, 2009, you make a Purchase Payment of $80,000. Since you are in your third Account Year, your GLB amount is increased by 85% of this Purchase Payment. Therefore, your new GLB amount is $168,000 (old GLB amount of $100,000 plus 85% of $80,000). Your new Bonus Base is also $168,000 (old Bonus Base of $100,000 plus 85% of $80,000). Your accrued bonus amount remains at $10,000.

• Assume that you take no withdrawals in your third Account Year. Therefore, on January 1, 2010, your accrued bonus amount is $18,400, which equals $8,400 (5% of the Bonus Base) plus your previous accrued bonus amount of $10,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $168,000.

• Assume that you remain in the AB Plan until it “matures” on January 1, 2017. Assume that you have taken no withdrawals since your contract was issued. Your accrued bonus amount is $77,200 ($5,000 per year for two years plus $8,400 per year for eight years). Since your rider “matured” in the AB Plan, the accrued bonus amount becomes $0. Assume that your Account Value on January 1, 2017 is $200,000. Assume that the total rider charges you paid were $8,375.

• Because your Account Value is greater than your GLB amount ($200,000 vs. $168,000), your Contract will be credited with an amount equal to the rider charges you have paid ($8,375), increasing your Account Value to $208,375.

EXAMPLE 3: Withdrawals under AB Plan.

• Assume that you are age 65 at issue. Assume that you elect the AB plan. Your GLB amount at issue and your Bonus Base at issue are both equal to $100,000 (your Purchase Payment amount). Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, your accrued bonus amount is $5,000, which equals 5% of the Bonus Base. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, your accrued bonus amount is $10,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $5,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that on March 10, 2009 (in your third Account Year), your Account Value is $80,000. Also assume that you take a withdrawal of $10,000 on this date. Therefore, your ending Account Value on March 10, 2009 is $70,000. Your GLB amount, Bonus Base, and accrued bonus amount are reduced proportionally to the amount withdrawn. Therefore, your new GLB amount is $100,000 x ($70,000 ÷ $80,000) = $87,500. Your new Bonus Base is $100,000 x ($70,000 ÷ $80,000) = $87,500. Your new accrued bonus amount is $10,000 x ($70,000 ÷ $80,000) = $8,750.

• Assume that you take no more withdrawals in your third Account Year. Therefore, on January 1, 2010, your GLB amount remains at $87,500, and your Bonus Base also remains at $87,500. Since you made a withdrawal in your third Account Year, you do not accrue a bonus amount in that Account Year. Therefore, your accrued bonus amount remains at $8,750.

• Assume that you take no withdrawals in your fourth Account Year. Therefore, on January 1, 2011, your accrued bonus amount is $13,125, which equals $4,375 (5% of the Bonus Base) plus your previous accrued bonus amount of $8,750. Since no withdrawals were been taken, your GLB amount and your Bonus Base both remain at $87,500.

• Assume that you remain in the AB plan until it “matures” on January 1, 2017. Assume that you take no more withdrawals from your contract. Your accrued bonus amount is $39,375 ($8,750 total for the first two years plus $4,375 per year for seven years). Since your rider has “matured” in the AB plan, the accrued bonus amount becomes $0. Assume that your Account Value on January 1, 2017 is $80,000. Since your Account Value is less than your GLB amount by $7,500, an amount equal to $7,500 will be deposited into your Contract ($87,500 - $80,000).

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EXAMPLE 4: Step-up elected under AB Plan.

• Assume that you are age 65 at issue. Assume that you elect the AB plan. Your GLB amount at issue and your Bonus Base at issue are both equal to $100,000 (your Purchase Payment amount). Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, your accrued bonus amount is $5,000, which equals 5% of the Bonus Base. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, your accrued bonus amount is $10,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $5,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your third Account Year. Therefore, on January 1, 2010, your accrued bonus amount is $15,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $10,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that on January 1, 2010 your Account Value is $118,000. Since you have passed your first Account Anniversary and have not stepped-up with the past year, and since your Account Value is greater than your GLB amount, you may elect to step up to a new ten year period, with a new GLB amount of $118,000. Assume that you do elect to step up. Your GLB amount is now equal to $118,000. Also, your Bonus Base is now equal to $118,000. Your AB plan “maturity date” is now January 1, 2020. Since your new GLB amount of $118,000 is greater than the sum of your old GLB amount of $100,000 plus your old accrued bonus amount of $15,000, your new accrued bonus amount is set equal to $0.

• Assume that you take no withdrawals in your fourth Account Year. Therefore, on January 1, 2011, your accrued bonus amount is $5,900, which equals $5,900 (5% of the Bonus Base) plus your previous accrued bonus amount of $0. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $118,000.

• Assume that you remain in the AB plan until it “matures” on January 1, 2020. Assume that you have taken no withdrawals since your contract was issued. Your accrued bonus amount is $41,300 ($5,900 per year for seven years). Since your rider has “matured” in the AB plan, the accrued bonus amount becomes $0. Assume that your Account Value on January 1, 2020 is $112,000. Since your Account Value is less than your GLB amount by $6,000, an amount equal to $6,000 will be deposited into your Contract ($118,000 - $112,000).

EXAMPLE 5: Calculation of Benefits under WB Plan; Early Withdrawals.

• Assume you are age 56 at issue. Also assume that you elect the WB plan on January 1, 2007, and that you choose to systematically withdraw the Maximum WB Amount annually.

• On January 1, 2007:

• Your GLB Base is $100,000 [the value of your RGLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is zero because you have not passed your first Account Anniversary after your 59th birthday

• Your Maximum WB for Life Amount is zero [4% of your Lifetime Income Base].

• Your Bonus Base is $100,000 [the amount of your initial Purchase Payment]. Since you are taking withdrawals each Account Year, you do not receive any bonus credits.

• On December 31, 2007, after your first systematic withdrawal of $5,000, your Maximum WB Amount:

• Your Account Value is reduced by the amount of the withdrawal [$5,000].

• Your RGLB amount, reduced by the amount of the withdrawal, is $95,000 [$100,000-$5,000].

• Your GLB Base is still $100,000 because you did not withdraw more than your Maximum WB Amount.

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• Your Lifetime Income Base is zero because you have not passed your first Account Anniversary after your 59th birthday.

• Your Bonus Base is still $100,000 because you did not withdraw more than your Maximum WB Amount.

• Assume you take only systematic withdrawals of $5,000 for a total of 3 years. Assume you make no subsequent Purchase Payments. On December 1, 2009, you celebrate your 59th birthday. On January 1, 2010:

• Your Account Value has been reduced by the amount of the total withdrawals [$15,000].

• Your RGLB amount, reduced by the amount of the total withdrawal, is $85,000 [$100,000 - ($5,000 x 3)].

• Your GLB Base is still $100,000 because you did not withdraw more than your Maximum WB Amount in any Account Year.

• Your Lifetime Income Base is set at $85,000 [an amount equal to the RGLB amount on your first Account Anniversary after your 59th birthday].

• Your Maximum WB for Life Amount is $3,400 [4% of your Lifetime Income Base because you are less than 65 years old].

• Your Bonus Base is still $100,000 because you did not withdraw more than your Maximum WB Amount.

• Assume you elect to take only annual systematic withdraws of no more than your Maximum WB for Life Amount [$3,400] for an additional 20 years. Assume you make no subsequent Purchase Payments, and that your Account Value reduces to zero. On December 31, 2029:

• Your Account Value equals zero.

• Your RGLB amount, reduced by the amount of the total withdrawals, is $17,000 [85,000 - ($3,400 x 20)]

• Your GLB Base is still $100,000 because you did not withdraw more than the Maximum WB Amount in any Account Year.

• Your Lifetime Income Base is still $85,000 because you did not withdraw more than the Maximum WB for Life Amount in any Account Year.

• Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years.

Even though your rights under the annuity Contract terminated when the Account Value became zero, we will continue to make payments to you. At this point, however, you must choose between:

(1) withdrawing the Maximum WB for Life Amount each year until you die or

(2) withdrawing your Maximum WB Amount each year until your RGLB amount is reduced to zero.

• Assume you elect to take annual payments of your Maximum WB for Life Amount. Therefore you will continue to receive $3,400 per year as long as you are alive. If you die before your RGLB amount is reduced to $0, your beneficiary will receive $5,000 per year (your Maximum WB Amount) until your RGLB amount is reduced to zero.

EXAMPLE 6: Calculation of Benefits under WB Plan with Subsequent Purchase Payments; Lifetime Withdrawals.

• Assume you are age 60 at issue. Also assume that you elect the WB plan on January 1, 2007, and that you choose to systematically withdraw the Maximum WB for Life Amount annually.

• On January 1, 2007:

• Your GLB Base is $100,000 [the value of your RGLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

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• Your Lifetime Income Base is $100,000 [the value of your RGLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB for Life Amount is $4,000 [4% of your Lifetime Income Base because you are age 60].

• Your Bonus Base is $100,000 [the amount of your initial Purchase Payment]. Since you are taking withdrawals each Account Year, you do not receive any bonus credits.

• On December 31, 2007, after your first systematic withdrawal of $4,000:

• Your Account Value is reduced by the amount of the withdrawal [$4,000].

• Your RGLB amount, reduced by the amount of the withdrawal, is $96,000 [$100,000 - $4,000].

• Your GLB Base is still $100,000 because you did not withdraw more than your Maximum WB Amount.

• Your Lifetime Income Base is $100,000 because you did not withdraw more than your Maximum WB for Life Amount.

• Your Bonus Base is still $100,000 because you did not withdraw more than your Maximum WB Amount.

• Assume you take only annual systematic withdrawals of $4,000 for a total of 4 years. Assume you make a subsequent Purchase Payment of $50,000, in your 4th Account Year. Assume also that, immediately before the subsequent Purchase Payment, your Account Value was $80,000. On December 31, 2010:

• Your RGLB amount, reduced by the amount of the total withdrawals and increased by the subsequent Purchase Payment, is $134,000 [$100,000 - ($4,000 x 4) + $50,000].

• Your GLB Base, increased by the subsequent Purchase Payment, is $150,000.

• Your Maximum WB Amount is $7,500 [5% of your new GLB Base]

• Your Lifetime Income Base, increased by the subsequent Purchase Payment, is $150,000.

• Your Maximum WB for Life Amount is $6,000 [4% of your new Lifetime Income Base]

• Your Bonus Base, increased by the subsequent Purchase Payment, is $150,000.

You may increase your annual systematic withdrawals to $6,000 without any effect on your future lifetime benefits.

• Assume you elect to take only annual systematic withdraws of no more than your Maximum WB for Life Amount [$6,000] for an additional 20 years. Assume you make no subsequent Purchase Payments, and that your Account Value reduces to zero. On December 31, 2030:

• Your Account Value equals zero.

• Your RGLB amount, reduced by the amount of the total withdrawals is $14,000 [$134,000 - ($6,000 x 20)].

• Your GLB Base is still $150,000 because you did not withdraw more than your Maximum WB Amount.

• Your Lifetime Income Base is $150,000 because you did not withdraw more than your Maximum WB for Life Amount in any Account Year.

• Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years.

Even though your rights under the annuity Contract terminated when the Account Value became zero, we will continue to make payments to you. At this point, however, you must choose between:

(1) withdrawing the Maximum WB for Life Amount each year until you die or

(2) withdrawing your Maximum WB Amount each year until your RGLB amount is reduced to zero.

• Assume you elect to take annual payments of your Maximum WB for Life Amount of $6,000. Therefore, you will continue to receive $6,000 per year as long as you are alive. If you die before your RGLB amount is reduced to $0, your beneficiary will receive $7,500 per year (your Maximum WB Amount) until your RGLB amount is reduced to zero.

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EXAMPLE 7: Withdrawals under WB Plan Exceeding Maximum WB Amount.

• Assume you are age 63 at issue. Also assume that you elect the WB plan on January 1, 2007. Assume that your Designated Fund had poor investment performance, losing 2% a year over the course of the Contract. On January 1, 2007:

• Your GLB Base is $100,000 [the value of your RGLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 [the value of your RGLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB for Life Amount is $4,000 [4% of your Lifetime Income Base because you are age 63].

• Your Bonus Base is $100,000 [the amount of your initial Purchase Payment]. Since you are taking withdrawals each Account Year, you do not receive any bonus credits.

• On December 31, 2007, after you take a withdrawal of $6,000, your Account Value is $92,000:

• Your RGLB amount is reduced to $92,000 [the lesser of (1) your current RGLB amount minus the withdrawal [$100,000-$6,000] and (2) your new Account Value [$92,000]].

• Your GLB Base is reduced to $92,000 [the lesser of (1) your current GLB Base minus the excess withdrawal [$100,000 - ($6,000 - $5,000)] and (2) your new Account Value [$92,000]].

• Your Maximum WB Amount is now $4,600 [5% of your GLB Base].

• Your Lifetime Income Base is reduced to $92,000 [the lesser of (1) your current Lifetime Income Base minus the excess withdrawal [$100,000 - ($6,000 - $4,000)] and (2) your new Account Value [$92,000]].

• Your Maximum WB for Life Amount is $3,680 [4% of your new Lifetime Income Base].

• Your Bonus Base is reduced to $92,000 [the lesser of (1) your current Bonus Base minus the excess withdrawal [$100,000 - ($6,000 - $5,000)] and (2) your new Account Value [$92,000]].

• Assume you make no subsequent Purchase Payments, but you take annual systematic withdrawals of $6,000 for a total of 13 years. Due to the of poor investment performance of your Designated Fund, your Account Value is now $7,609. Because you have taken withdrawals in excess of your Maximum WB Amount, your RGLB amount is also now $7,609. Because you have taken withdrawals in excess of your Maximum WB Amount, your GLB Base is also now $7,609. Your Maximum WB Amount is 5% of $7,609, or $380. Because you have taken withdrawals in excess of your Maximum WB for Life Amount, your Lifetime Income Base is also now $7,609. Your Maximum WB for Life Amount is 4% of $7,609, or $304. Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years.

• Assume your fund earns -2% in Account Year 14, and that you take another $6,000 withdrawal. On December 31, 2020:

• Your Account Value is $1,457.

• Your RGLB amount is $1,457 [the lesser of (1) your current RGLB amount minus the withdrawal amount ($7,609 - $6,000) and (2) your new Account Value ($1,457)].

• Your GLB Base is $1,457 [the lesser of (1) your current GLB Base minus the excess withdrawal [$7,609 - ($6,000 - $380)] and (2) your new Account Value [$1,457]].

• Your Maximum WB Amount equals $73 [5% of your new GLB Base].

• Your Lifetime Income Base is $1,457 [the lesser of (1) your current Lifetime Income Base minus the excess withdrawal [$7,609 - ($6,000 - $304)] and (2) your new Account Value [$1,457]].

• Your Maximum WB for Life Amount equals $58 [4% of your new Lifetime Income Base].

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Because your GLB Base is greater than zero, you may take annual withdrawals up to the Maximum WB Amount until your RGLB amount becomes zero. Because your Lifetime Income Base is greater than zero, you may take annual withdrawals up to the Maximum WB for Life Amount until you die or annuitize. Any withdrawal you take that is greater than your Maximum WB Amount will reduce your GLB Base (and hence, give you a new, reduced Maximum WB Amount). Any withdrawal you take that is greater than your Maximum WB for Life Amount will reduce your Lifetime Income Base (and hence, give you a new, reduced Maximum WB for Life Amount).

If your Account Value is reduced to zero by a withdrawal that does not exceed your Maximum WB for Life Amount, you must choose between:

(1) withdrawing the Maximum WB for Life Amount each year until you die or

(2) withdrawing your Maximum WB Amount each year until your RGLB amount is reduced to zero.

If your Account Value is reduced to zero by a withdrawal that exceeds your Maximum WB for Life Amount but does not exceed your Maximum WB Amount, your Lifetime Income Base will become zero, but we will continue to pay your then current Maximum WB Amount each year until your RGLB is reduced to zero.

If your Account Value is reduced to zero by a withdrawal that exceeds both your Maximum WB for Life Amount and your Maximum WB Amount, your Lifetime Income Base, your RGLB amount, and your GLB Base will all be reduced to zero, your Maximum WB for Life Amount and your Maximum WB Amount will both become zero, and no more benefits will be paid.

EXAMPLE 8: Step-up elected under WB Plan.

• Assume you are age 65 at issue. Also assume that you elect the WB plan on January 1, 2007, and that you choose to systematically withdraw the Maximum WB Amount annually. Assume that your Designated Fund had good investment performance, gaining 6% a year over the course of the Contract. On January 1, 2007:

• Your GLB Base is $100,000 [the value of your RGLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 [the value of your RGLB amount on the day you elect to participate in the WB Plan].

• Your Maximum WB for Life Amount is $5,000 [5% of your Lifetime Income Base because you are age 65].

• Your Bonus Base is $100,000 [the amount of your initial Purchase Payment]. Since you are taking withdrawals each Account Year, you do not receive any bonus credits.

• On December 31, 2007, after you take your first systematic withdrawal of $5,000, your Account Value is $101,000:

• Your RGLB amount, reduced by the amount of the withdrawal, is $95,000 [$100,000-$5,000].

• Your GLB Base is still $100,000 because you withdrew no more than your Maximum WB Amount.

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is $100,000 because you withdrew no more than your Maximum WB for Life Amount.

• Your Maximum WB for Life Amount is $5,000 [5% of your Lifetime Income Base].

• Your Bonus Base is still $100,000 because you did not withdraw more than your Maximum WB Amount.

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• Assume you make no subsequent Purchase Payments, but you take systematic withdrawals of $5,000 for a total of 3 years. On December 31, 2009:

• Your Account Value is $103,184.

• Your RGLB amount is $85,000 [$100,000 - ($5,000 x 3)].

• Your GLB Base is still $100,000 because you withdrew no more than your Maximum WB Amount.

• Your Maximum WB Amount is $5,000 [5% of your GLB Base].

• Your Lifetime Income Base is still $100,000 because you withdrew no more than your Maximum WB for Life Amount.

• Your Maximum WB for Life Amount is $5,000 [5% of your Lifetime Income Base].

• Your Bonus Base is still $100,000 because you withdrew no more than your Maximum WB Amount.

Because your Account Value is greater than your RGLB amount, your GLB Base, and your Lifetime Income Base, you may step-up your RGLB amount, your GLB Base, your Bonus Base, and your Lifetime Income Base each to an amount equal to your current Account Value. Assume you elect to step-up. On January 1, 2010*:

• Your Account Value is $103,184.

• Your RGLB amount is $103,184.

• Your GLB Base is $103,184.

• Your Maximum WB Amount is $5,159 [5% of your new GLB Base].

• Your Lifetime Income Base is $103,184.

• Your Maximum WB for Life Amount is $5,159 [5% of your new Lifetime Income Base].

• Your Bonus Base is $103,184.

* Note: Assume instead that you elected to step-up sometime in 2010 after your withdrawal of $5,000 was taken and that your Account Value at the time of the step-up was $103,184. Your new Maximum WB Amount and new Maximum WB for Life amount of $5,159 would apply so that you could withdraw an additional $159 during the remainder of 2010 without exceeding your maximum amounts.

EXAMPLE 9: WB election at issue; Withdrawals not taken immediately.

• Assume that you are age 65 at issue. Also assume that you elect the WB plan at issue. Your RGLB amount, your GLB Base, your Lifetime Income Base (LIB), and your Bonus Base all equal $100,000. Your Maximum WB Amount equals 5% of your GLB Base, or $5,000. Your Maximum WB for Life Amount equals 5% of your Lifetime Income Base, or $5,000.

• Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $105,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $100,000, and

(ii) your new RGLB amount of $105,000.

Therefore, your GLB Base is now $105,000, and your new Maximum WB Amount is 5% of $105,000, or $5,250. Your LIB will now become the greater of:

(i) your old LIB of $100,000, and

(ii) the lesser of:

(a) your new RGLB amount of $105,000, and

(b) your old LIB of $100,000 plus the bonus amount of $5,000.

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Therefore, your LIB is now $105,000, and your new Maximum WB for Life Amount is 5% of $105,000, or $5,250. Your Bonus Base remains at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $110,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $105,000, and

(ii) your new RGLB amount of $110,000.

Therefore, your GLB Base is now $110,000, and your new Maximum WB Amount is 5% of $110,000, or $5,500. Your LIB will now become the greater of:

(i) your old LIB of $105,000, and

(ii) the lesser of:

(a) your new RGLB amount of $110,000, and

(b) your old LIB of $105,000 plus the bonus amount of $5,000.

Therefore, your LIB is now $110,000, and your new Maximum WB for Life Amount is 5% of $110,000, or $5,500. Your Bonus Base remains at $100,000.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $5,500 in your third Account Year. Your RGLB amount will be reduced by the amount of the withdrawal, so that it will equal $110,000 - $5,500, or $104,500. Your GLB Base will remain at $110,000, so your Maximum WB Amount will remain at 5% of $110,000, or $5,500. Your LIB will also remain at $110,000, so your Maximum WB for Life Amount will remain at 5% of $110,000, or $5,500.

• Assume that you remain alive and that you continue to make withdrawals of $5,500 until the RGLB amount runs out in year 2028. Because the RGLB amount is now $0, the GLB Base also becomes $0. Your LIB is still $110,000. Therefore, you can continue to receive $5,500 per year as long as you are alive. Also, if there is a remaining Account Value, the Contract continues.

EXAMPLE 10: WB election at issue; subsequent Purchase Payments made; withdrawals not taken immediately.

• Assume that you are age 65 at issue. Also assume that you elect the WB plan at issue. Your RGLB amount, your GLB Base, your Lifetime Income Base (LIB), and your Bonus Base all equal $100,000. Your Maximum WB Amount equals 5% of your GLB Base, or $5,000. Your Maximum WB for Life Amount equals 5% of your Lifetime Income Base, or $5,000.

• Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $105,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $100,000, and

(ii) your new RGLB amount of $105,000.

Therefore, your GLB Base is now $105,000, and your new Maximum WB Amount is 5% of $105,000, or $5,250. Your LIB will now become the greater of:

(i) your old LIB of $100,000, and

(ii) the lesser of:

(a) your new RGLB amount of $105,000, and

(b) your old LIB of $100,000 plus the bonus amount of $5,000.

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Therefore, your LIB is now $105,000, and your new Maximum WB for Life Amount is 5% of $105,000, or $5,250. Your Bonus Base remains at $100,000.

• Assume that you make a Purchase Payment of $60,000 in your second Account Year. Your RGLB amount, GLB Base, LIB, and Bonus Base are all increased by the amount of the Purchase Payment. Therefore, your RGLB amount, GLB Base, and LIB are all now equal to $105,000 plus $60,000 = $165,000. Your Bonus Base is now equal to $100,000 plus $60,000 = $160,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, the RGLB amount will be increased by $8,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $173,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $165,000, and

(ii) your new RGLB amount of $173,000.

Therefore, your GLB Base is now $173,000, and your new Maximum WB Amount is 5% of $173,000, or $8,650. Your LIB will now become the greater of:

(i) your old LIB of $165,000, and

(ii) the lesser of:

(a) your new RGLB amount of $173,000, and

(b) your old LIB of $165,000 plus the bonus amount of $8,000.

Therefore, your LIB is now $173,000, and your new Maximum WB for Life Amount is 5% of $173,000, or $8,650. Your Bonus Base remains at $160,000.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $8,650 in your third Account Year. Your RGLB amount will be reduced by the amount of the withdrawal, so that it will equal $173,000 - $8,650, or $164,350. Your GLB Base will remain at $173,000, so your Maximum WB Amount will remain at 5% of $173,000, or $8,650. Your LIB will also remain at $173,000, so your Maximum WB for Life Amount will remain at 5% of $173,000, or $8,650. Your Bonus Base will remain at $160,000.

• Assume that you remain alive and that you continue to make withdrawals of $8,650 until the RGLB amount runs out in year 2028. Because the RGLB amount is now $0, the GLB Base also becomes $0. Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years. Your LIB is still $173,000. Therefore, you can continue to receive $8,650 per year as long as you are alive. Also, if there is a remaining Account Value, the Contract continues.

EXAMPLE 11: WB election at issue; withdrawals taken.

• Assume that you are age 65 at issue. Also assume that you elect the WB plan at issue. Your RGLB amount, your GLB Base, your Lifetime Income Base (LIB), and your Bonus Base all equal $100,000. Your Maximum WB Amount equals 5% of your GLB Base, or $5,000. Your Maximum WB for Life Amount equals 5% of your Lifetime Income Base, or $5,000.

• Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $105,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $100,000, and

(ii) your new RGLB amount of $105,000

Therefore, your GLB Base is now $105,000, and your new Maximum WB Amount is 5% of $105,000, or $5,250. Your LIB will now become the greater of:

(i) your old LIB of $100,000, and

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(ii) the lesser of:

(a) your new RGLB amount of $105,000, and

(b) your old LIB of $100,000 plus the bonus amount of $5,000.

Therefore, your LIB is now $105,000, and your new Maximum WB for Life Amount is 5% of $105,000, or $5,250. Your Bonus Base remains at $100,000.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $5,250 in your second Account Year. Your RGLB amount will be reduced by the amount of the withdrawal, so that it will equal $105,000 - $5,250, or $99,750. Your GLB Base will remain at $105,000, so your Maximum WB Amount will remain at 5% of $105,000, or $5,250. Your LIB will also remain at $105,000, so your Maximum WB for Life Amount will remain at 5% of $105,000, or $5,250. Since your withdrawal did not exceed your Maximum WB Amount, your Bonus Base will remain at $100,000.

• Assume that you take no withdrawals in your third Account Year. Therefore, on January 1, 2010, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $104,750. Your GLB Base will now become the greater of:

(i) your old GLB Base of $105,000, and

(ii) your new RGLB amount of $104,750.

Therefore, your GLB Base remains at $105,000, and your Maximum WB Amount remains at 5% of $105,000, or $5,250. Your LIB will now become the greater of:

(i) your old LIB of $105,000, and

(ii) the lesser of:

(a) your new RGLB amount of $104,750, and

(b) your old LIB of $105,000 plus the bonus amount of $5,000.

Therefore, your LIB remains at $105,000, and your Maximum WB for Life Amount remains at 5% of $105,000, or $5,250. Your Bonus Base remains at $100,000.

• Assume that you take no withdrawals in your fourth Account Year. Therefore, on January 1, 2011, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $109,750. Your GLB Base will now become the greater of:

(i) your old GLB Base of $105,000, and

(ii) your new RGLB amount of $109,750.

Therefore, your GLB Base is now $109,750, and your new Maximum WB Amount is 5% of $109,750, or $5,487. Your LIB will now become the greater of:

(i) your old LIB of $105,000, and

(ii) the lesser of:

(a) your new RGLB amount of $109,750, and

(b) your old LIB of $105,000 plus the bonus amount of $5,000.

Therefore, your LIB is now $109,750, and your new Maximum WB for Life Amount is 5% of $109,750, or $5,487. Your Bonus Base remains at $100,000.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $5,487 in 2011. Also assume that you remain alive and continue to take annual withdrawals of $5,487 until the RGLB amount runs out in year 2030. Because the RGLB amount is now $0, the GLB Base also becomes $0. Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years. Your LIB is still $109,750.

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Therefore, you can continue to receive $5,487 per year as long as you are alive. Also, if there is a remaining Account Value, the Contract continues.

EXAMPLE 12: WB election at issue; Excess Withdrawal taken.

• Assume that you are age 65 at issue. Also assume that you elect the WB plan at issue. Your RGLB amount, your GLB Base, your Lifetime Income Base (LIB), and your Bonus Base all equal $100,000. Your Maximum WB Amount equals 5% of your GLB Base, or $5,000. Your Maximum WB for Life Amount equals 5% of your Lifetime Income Base, or $5,000.

• Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $105,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $100,000, and

(ii) your new RGLB amount of $105,000.

Therefore, your GLB Base is now $105,000, and your new Maximum WB Amount is 5% of $105,000, or $5,250. Your LIB will now become the greater of:

(i) your old LIB of $100,000, and

(ii) the lesser of:

(a) your new RGLB amount of $105,000, and

(b) your old LIB of $100,000 plus the bonus amount of $5,000.

Therefore, your LIB is now $105,000, and your new Maximum WB for Life Amount is 5% of $105,000, or $5,250. Your Bonus Base remains at $100,000.

• Assume that you take a withdrawal of $6,000 in your second Account Year. This withdrawal exceeds both your Maximum WB Amount and your Maximum WB for Life Amount of $5,250. Assume that your Account Value equals $90,000 after you make this withdrawal. Your RGLB amount will be reduced to the lesser of:

(i) your old RGLB amount of $105,000 minus the $6,000 withdrawal, and

(ii) your Account Value of $90,000.

Therefore, your new RGLB amount is $90,000. Your GLB Base will be reduced to the lesser of:

(i) your old GLB Base of $105,000 minus the $750 excess withdrawal, and

(ii) your Account Value of $90,000.

Therefore, your new GLB Base is $90,000. Your new Maximum WB Amount is 5% of $90,000, or $4,500. Your Bonus Base will be reduced to the lesser of:

(i) your old Bonus Base of $100,000 minus the $750 excess withdrawal, and

(ii) your Account Value of $90,000.

Therefore, your new Bonus Base is $90,000. Your LIB will be reduced to the lesser of:

(i) your old LIB of $105,000 minus the $750 excess withdrawal, and

(ii) your Account Value of $90,000.

Therefore, your new LIB is $90,000. Your new Maximum WB for Life Amount is 5% of $90,000, or $4,500.

• Assume that you take no withdrawals in your third Account Year. Therefore, on January 1, 2010, the RGLB amount will be increased by $4,500, which equals 5% of the Bonus Base. Your new RGLB amount is now $94,500. Your GLB Base will now become the greater of:

(i) your old GLB Base of $90,000, and

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(ii) your new RGLB amount of $94,500.

Therefore, your GLB Base is now $94,500, and your new Maximum WB Amount is 5% of $94,500, or $4,725. Your LIB will now become the greater of:

(i) your old LIB of $90,000, and

(ii) the lesser of:

(a) your new RGLB amount of $94,500, and

(b) your old LIB of $90,000 plus the bonus amount of $4,500.

Therefore, your LIB is now $94,500, and your new Maximum WB for Life Amount is 5% of $94,500, or $4,725. Your Bonus Base remains at $90,000.

• Assume that you take no withdrawals in your fourth Account Year. Therefore, on January 1, 2011, the RGLB amount will be increased by $4,500, which equals 5% of the Bonus Base. Your new RGLB amount is now $99,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $94,500, and

(ii) your new RGLB amount of $99,000.

Therefore, your GLB Base is now $99,000, and your new Maximum WB Amount is 5% of $99,000, or $4,950. Your LIB will now become the greater of:

(i) your old LIB of $94,500, and

(ii) the lesser of:

(a) your new RGLB amount of $99,000, and

(b) your old LIB of $94,500 plus the bonus amount of $4,500.

Therefore, your LIB is now $99,000, and your new Maximum WB for Life Amount is 5% of $99,000, or $4,950. Your Bonus Base remains at $90,000.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $4,950 in 2011. Also assume that you remain alive and continue to take annual withdrawals of $4,950 until the RGLB amount runs out in year 2030. Because the RGLB amount is now $0, the GLB Base also becomes $0. Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years. Your LIB is still $99,000. Therefore, you can continue to receive $4,950 per year as long as you are alive. Also, if there is a remaining Account Value, the Contract continues.

EXAMPLE 13: WB election at issue; withdrawals not taken immediately; Step-up elected.

• Assume that you are age 65 at issue. Also assume that you elect the WB plan at issue. Your RGLB amount, your GLB Base, your Lifetime Income Base (LIB), and your Bonus Base all equal $100,000. Your Maximum WB Amount equals 5% of your GLB Base, or $5,000. Your Maximum WB for Life Amount equals 5% of your Lifetime Income Base, or $5,000.

• Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $105,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $100,000, and

(ii) your new RGLB amount of $105,000.

Therefore, your GLB Base is now $105,000, and your new Maximum WB Amount is 5% of $105,000, or $5,250. Your LIB will now become the greater of:

(i) your old LIB of $100,000, and

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(ii) the lesser of:

(a) your new RGLB amount of $105,000, and

(b) your old LIB of $100,000 plus the bonus amount of $5,000.

Therefore, your LIB is now $105,000, and your new Maximum WB for Life Amount is 5% of $105,000, or $5,250. Your Bonus Base remains at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $110,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $105,000, and

(ii) your new RGLB amount of $110,000.

Therefore, your GLB Base is now $110,000, and your new Maximum WB Amount is 5% of $110,000, or $5,500. Your LIB will now become the greater of:

(i) your old LIB of $105,000, and

(ii) the lesser of:

(a) your new RGLB amount of $110,000, and

(b) your old LIB of $105,000 plus the bonus amount of $5,000.

Therefore, your LIB is now $110,000, and your new Maximum WB for Life Amount is 5% of $110,000, or $5,500. Your Bonus Base remains at $100,000.

• Assume that you take no withdrawals in your third Account Year. Therefore, on January 1, 2010, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $115,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $110,000, and

(ii) your new RGLB amount of $115,000.

Therefore, your GLB Base is now $115,000, and your new Maximum WB Amount is 5% of $115,000, or $5,750. Your LIB will now become the greater of:

(i) your old LIB of $115,000, and

(ii) the lesser of:

(a) your new RGLB amount of $115,000, and

(b) your old LIB of $110,000 plus the bonus amount of $5,000.

Therefore, your LIB is now $115,000, and your new Maximum WB for Life Amount is 5% of $115,000, or $5,750. Your Bonus Base remains at $100,000.

• Assume that on January 2, 2010 your Account Value is $118,000. Since you have passed your first Account Anniversary and have not stepped-up within the past year, and since your Account Value is greater than both the GLB Base and the LIB, you may step up your WB plan guarantees. Assume that you do elect to step up. Your RGLB amount, your GLB Base, your LIB and your Bonus Base are all now equal to $118,000. Your new Maximum WB Amount is 5% of $118,000, or $5,900. Your new Maximum WB for Life Amount is 5% of $118,000, or $5,900.

• Assume that you take no withdrawals in your fourth Account Year. Therefore, on January 1, 2011, the RGLB amount will be increased by $5,900, which equals 5% of the Bonus Base. Your new RGLB amount is now $123,900. Your GLB Base will now become the greater of:

(i) your old GLB Base of $118,000, and

(ii) your new RGLB amount of $123,900.

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Therefore, your GLB Base is now $123,900, and your new Maximum WB Amount is 5% of $123,900, or $6,195. Your LIB will now become the greater of:

(i) your old LIB of $118,000, and

(ii) the lesser of:

(a) your new RGLB amount of $123,900, and

(b) your old LIB of $118,000 plus the bonus amount of $5,900.

Therefore, your LIB is now $123,900, and your new Maximum WB for Life Amount is 5% of $123,900, or $6,195. Your Bonus Base remains at $118,000.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $6,195 in your fifth Account Year. Your RGLB amount will be reduced by the amount of the withdrawal, so that it will equal $123,900 - $6,195, or $117,705. Your GLB Base will remain at $123,900, so your Maximum WB Amount will remain at 5% of $123,900, or $6,195. Your LIB will also remain at $123,900, so your Maximum WB for Life Amount will remain at 5% of $123,900, or $6,195. Your Bonus Base remains at $118,000.

• Assume that you remain alive and that you continue to make withdrawals of $6,195 until the RGLB amount runs out in year 2030. Because the RGLB amount is now $0, the GLB Base also becomes $0. Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years. Your LIB is still $123,900. Therefore, you can continue to receive $6,195 per year as long as you are alive. Also, if there is a remaining Account Value, the Contract continues.

EXAMPLE 14: Switch from AB to WB; No withdrawals under the AB Plan.

• Assume that you are age 65 at issue. Assume that you elect the AB plan. Your GLB amount at issue and your Bonus Base at issue are both equal to $100,000 (your Purchase Payment amount). Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, your accrued bonus amount is $5,000, which equals 5% of the Bonus Base. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, your accrued bonus amount is $10,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $5,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your third Account Year. Therefore, on January 1, 2010, your accrued bonus amount is $15,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $10,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that while you are in your fourth Account Year, you switch to the WB plan. Assume that you have not taken any withdrawals yet. Your RGLB amount is now equal to your old GLB amount of $100,000 plus your accrued bonus amount of $15,000, for a total of $115,000. Your GLB Base and your LIB are both set equal to the RGLB amount at the time of conversion to the WB plan. Therefore, both the GLB Base and the LIB are equal to $115,000. Your Maximum WB Amount equals 5% of your GLB Base, or $5,750. Your Maximum WB for Life Amount equals 5% of your LIB, or $5,750. Your Bonus Base remains at $100,000. Since you have switched to the WB plan, your accrued bonus amount becomes $0.

• Assume that you take no withdrawals in your fourth Account Year. Therefore, on January 1, 2011, the RGLB amount will be increased by $5,000, which equals 5% of the Bonus Base. Your new RGLB amount is now $120,000. Your GLB Base will now become the greater of:

(i) your old GLB Base of $115,000, and

(ii) your new RGLB amount of $120,000.

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Therefore, your GLB Base is now $120,000, and your new Maximum WB Amount is 5% of $120,000, or $6,000. Your LIB will now become the greater of:

(i) your old LIB of $115,000, and

(ii) the lesser of:

(a) your new RGLB amount of $120,000, and

(b) your old LIB of $115,000 plus the bonus amount of $5,000.

Therefore, your LIB is now $120,000, and your new Maximum WB for Life Amount is 5% of $120,000, or $6,000. Your Bonus Base remains at $100,000.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $6,000 in your fifth Account Year. Your RGLB amount will be reduced by the amount of the withdrawal, so that it will equal $120,000 - $6,000, or $114,000. Your GLB Base will remain at $120,000, so your Maximum WB Amount will remain at 5% of $120,000, or $6,000. Your LIB will also remain at $120,000, so your Maximum WB for Life Amount will remain at 5% of $120,000, or $6,000. Your Bonus Base remains at $100,000.

• Assume that you remain alive and that you continue to make withdrawals of $6,000 until the RGLB amount runs out in year 2030. Because the RGLB amount is now $0, the GLB Base also becomes $0. Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years. Your LIB is still $120,000. Therefore, you can continue to receive $6,000 per year as long as you are alive. Also, if there is a remaining Account Value, the Contract continues.

EXAMPLE 15: Switch from AB to WB; Withdrawals under the AB Plan.

• Assume that you are age 65 at issue. Assume that you elect the AB plan. Your GLB amount at issue and your Bonus Base at issue are both equal to $100,000 (your Purchase Payment amount). Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, your accrued bonus amount is $5,000, which equals 5% of the Bonus Base. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, your accrued bonus amount is $10,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $5,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that on March 10, 2009 (in your third Account Year), your Account Value is $80,000. Also assume that you take a withdrawal of $10,000 on this date. Therefore, your ending Account Value on March 10, 2009 is $70,000. Your GLB amount, Bonus Base, and accrued bonus amount are reduced proportionally to the amount withdrawn.

Therefore, your new GLB amount is $100,000 x ($70,000 ÷ $80,000) = $87,500. Your new Bonus Base is $100,000 x ($70,000 ÷ $80,000) = $87,500. Your new accrued bonus amount is $10,000 x ($70,000 ÷ $80,000) = $8,750

• Assume that while you are in your fourth Account Year, you switch to the WB plan. Your RGLB amount is now equal to your old GLB amount of $87,500 plus your accrued bonus amount of $8,750, for a total of $96,250. Your GLB Base and your LIB are both set equal to the RGLB amount at the time of conversion to the WB plan. Therefore, both the GLB Base and the LIB are equal to $96,250. Your Maximum WB Amount equals 5% of your GLB Base, or $4,812. Your Maximum WB for Life Amount equals 5% of your LIB, or $4,812. Your Bonus Base remains at $87,500. Since you have switched to the WB plan, your accrued bonus amount becomes $0.

• Assume that you take no withdrawals in your fourth Account Year. Therefore, on January 1, 2011, the RGLB amount will be increased by $4,375, which equals 5% of the Bonus Base. Your new RGLB amount is now $100,625. Your GLB Base will now become the greater of:

(i) your old GLB Base of $96,250, and

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(ii) your new RGLB amount of $100,625.

Therefore, your GLB Base is now $100,625, and your new Maximum WB Amount is 5% of $100,625, or $5,031. Your LIB will now become the greater of:

(i) your old LIB of $96,250, and

(ii) the lesser of:

(a) your new RGLB amount of $100,625, and

(b) your old LIB of $96,250 plus the bonus amount of $4,375.

Therefore, your LIB is now $100,625, and your new Maximum WB for Life Amount is 5% of $100,625, or $5,031. Your Bonus Base remains at $87,500.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $5,031 in your fifth Account Year. Your RGLB amount will be reduced by the amount of the withdrawal, so that it will equal $100,625 - $5,031, or $95,594. Your GLB Base will remain at $100,625, so your Maximum WB Amount will remain at 5% of $100,625, or $5,031. Your LIB will also remain at $100,625, so your Maximum WB for Life Amount will remain at 5% of $100,625, or $5,031. Your Bonus Base remains at $87,500.

• Assume that you remain alive and that you continue to make withdrawals of $5,031 until the RGLB amount runs out in year 2030. Because the RGLB amount is now $0, the GLB Base also becomes $0. Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years. Your LIB is still $100,625. Therefore, you can continue to receive $5,031 per year as long as you are alive. Also, if there is a remaining Account Value, the Contract continues.

EXAMPLE 16: Switch from AB to WB; Step-up while in AB Plan.

• Assume that you are age 65 at issue. Assume that you elect the AB plan. Your GLB amount at issue and your Bonus Base at issue are both equal to $100,000 (your Purchase Payment amount). Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, your accrued bonus amount is $5,000, which equals 5% of the Bonus Base. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, your accrued bonus amount is $10,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $5,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your third Account Year. Therefore, on January 1, 2010, your accrued bonus amount is $15,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $10,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that on January 2, 2010 your Account Value is $118,000. Since you have passed your first Account Anniversary and have not stepped-up within the past year, and since your Account Value is greater than your GLB amount, you may elect to step up to a new ten year period, with a new GLB amount of $118,000. Assume that you do elect to step up. Your GLB amount is now equal to $118,000. Also, your Bonus Base is now equal to $118,000. Your AB plan “maturity date” is now January 2, 2020. Since your new GLB amount of $118,000 is greater than the sum of your old GLB amount of $100,000 plus your old accrued bonus amount of $15,000, your new accrued bonus amount is set equal to $0.

• Assume that you take no withdrawals in your fourth Account Year. Therefore, on January 1, 2011, your accrued bonus amount is $5,900, which equals $5,900 (5% of the Bonus Base) plus your previous accrued bonus amount of $0. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $118,000.

• Assume that while you are in your fifth Account Year, you switch to the WB plan. Assume that you have not taken any withdrawals yet. Your RGLB amount is now equal to your old GLB amount of $118,000 plus your

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accrued bonus amount of $5,900, for a total of $123,900. Your GLB Base and your LIB are both set equal to the RGLB amount at the time of conversion to the WB plan. Therefore, both the GLB Base and the LIB are equal to $123,900. Your Maximum WB Amount equals 5% of your GLB Base, or $6,195. Your Maximum WB for Life Amount equals 5% of your LIB, or $6,195. Your Bonus Base remains at $118,000. Since you have switched to the WB plan, your accrued bonus amount becomes $0.

• Assume that you take no withdrawals in your fifth Account Year. Therefore, on January 1, 2012, the RGLB amount will be increased by $5,900, which equals 5% of the Bonus Base. Your new RGLB amount is now $129,800. Your GLB Base will now become the greater of:

(i) your old GLB Base of $123,900, and

(ii) your new RGLB amount of $129,800.

Therefore, your GLB Base is now $129,800, and your new Maximum WB Amount is 5% of $129,800, or $6,490. Your LIB will now become the greater of:

(i) your old LIB of $123,900, and

(ii) the lesser of:

(a) your new RGLB amount of $129,800, and

(b) your old LIB of $123,900 plus the bonus amount of $5,900.

Therefore, your LIB is now $129,800, and your new Maximum WB for Life Amount is 5% of $129,800, or $6,490. Your Bonus Base remains at $118,000.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $6,490 in your sixth Account Year. Your RGLB amount will be reduced by the amount of the withdrawal, so that it will equal $129,800 - $6,490, or $123,310. Your GLB Base will remain at $129,800, so your Maximum WB Amount will remain at 5% of $129,800, or $6,490. Your LIB will also remain at $129,800, so your Maximum WB for Life Amount will remain at 5% of $129,800, or $6,490. Your Bonus Base remains at $118,000.

• Assume that you remain alive and that you continue to make withdrawals of $6,490 until the RGLB amount runs out in year 2031. Because the RGLB amount is now $0, the GLB Base also becomes $0. Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years. Your LIB is still $129,800. Therefore, you can continue to receive $6,490 per year as long as you are alive. We will continue to charge the rider fee for as long as you are eligible to receive benefits under the WB Plan. The Owner can annuitize as long as there is a remaining Account Value, but if Account Value drops to zero, the Contract terminates.

EXAMPLE 17: Switch from AB to WB; Step-up while in AB Plan.

• Assume that you are age 65 at issue. Assume that you elect the AB plan. Your GLB amount at issue and your Bonus Base at issue are both equal to $100,000 (your Purchase Payment amount). Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, your accrued bonus amount is $5,000, which equals 5% of the Bonus Base. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your second Account Year. Therefore, on January 1, 2009, your accrued bonus amount is $10,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $5,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that you take no withdrawals in your third Account Year. Therefore, on January 1, 2010, your accrued bonus amount is $15,000, which equals $5,000 (5% of the Bonus Base) plus your previous accrued bonus amount of $10,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that on January 2, 2010 your Account Value is $112,000. Since you have passed your first Account Anniversary and have not stepped-up within the past year, and since your Account Value is greater than your

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GLB amount, you may elect to step up to a new ten year period, with a new GLB amount of $112,000. Assume that you do elect to step up. Your GLB amount is now equal to $112,000. Also, your Bonus Base is now equal to $112,000. Your AB plan “maturity date” is now January 2, 2020. Since your new GLB amount of $112,000 is less than the sum of your old GLB amount of $100,000 plus your old accrued bonus amount of $15,000, your new accrued bonus amount is set equal to the sum of your old GLB amount of $100,000 plus your old accrued bonus amount of $15,000, less your new GLB amount of $112,000. Therefore, your new accrued bonus amount is $3,000.

• Assume that you take no withdrawals in your fourth Account Year. Therefore, on January 1, 2011, your accrued bonus amount is $8,600, which equals $5,600 (5% of the Bonus Base) plus your previous accrued bonus amount of $3,000. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $112,000.

• Assume that while you are in your fifth Account Year, you switch to the WB plan. Assume that you have not taken any withdrawals yet. Your RGLB amount is now equal to your old GLB amount of $112,000 plus your accrued bonus amount of $8,600, for a total of $120,600. Your GLB Base and your LIB are both set equal to the RGLB amount at the time of conversion to the WB plan. Therefore, both the GLB Base and the LIB are equal to $120,600. Your Maximum WB Amount equals 5% of your GLB Base, or $6,030. Your Maximum WB for Life Amount equals 5% of your LIB, or $6,030. Your Bonus Base remains at $112,000. Since you have switched to the WB plan, your accrued bonus amount becomes $0.

• Assume that you take no withdrawals in your fifth Account Year. Therefore, on January 1, 2012, the RGLB amount will be increased by $5,600, which equals 5% of the Bonus Base. Your new RGLB amount is now $126,200. Your GLB Base will now become the greater of:

(i) your old GLB Base of $120,600, and

(ii) your new RGLB amount of $126,200.

Therefore, your GLB Base is now $126,200, and your new Maximum WB Amount is 5% of $126,200, or $6,310. Your LIB will now become the greater of:

(i) your old LIB of $120,600, and

(ii) the lesser of:

(a) your new RGLB amount of $126,200, and

(b) your old LIB of $120,600 plus the bonus amount of $5,600.

Therefore, your LIB is now $126,200, and your new Maximum WB for Life Amount is 5% of $126,200, or $6,310. Your Bonus Base remains at $112,000.

• Assume that you take a withdrawal equal to your Maximum WB for Life Amount of $6,310 in your sixth Account Year. Your RGLB amount will be reduced by the amount of the withdrawal, so that it will equal $126,200 - $6,310, or $119,890. Your GLB Base will remain at $126,200, so your Maximum WB Amount will remain at 5% of $126,200, or $6,310. Your LIB will also remain at $126,200, so your Maximum WB for Life Amount will remain at 5% of $126,200, or $6,310. Your Bonus Base remains at $112,000.

• Assume that you remain alive and that you continue to make withdrawals of $6,310 until the RGLB amount runs out in year 2031. Because the RGLB amount is now $0, the GLB Base also becomes $0. Your Bonus Base is $0 because bonus credits may only be given in the first ten Account Years. Your LIB is still $126,200. Therefore, you can continue to receive $6,310 per year as long as you are alive. We will continue to charge the rider fee for as long as you are eligible to receive benefits under the WB Plan. The Owner can annuitize as long as there is a remaining Account Value, but if the Account Value drops to zero, the Contract terminates.

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EXAMPLE 18: Calculation of Explicit Rider Charges.

• Assume that you did not elect the WB plan at any time. Assume that your Account Value increases at an annual rate of 5% per year throughout the next ten years. Also assume that you do not elect to step-up at any time.

• On March 31, 2007, your Account Value before the charge for Secured Returns for Life Plus is taken is $101,196.79. The charge deducted on March 31, 2007 is $126.50 ($101,196.79 x .00125). Therefore, your ending Account Value on March 31, 2007 is $101,070.29 ($101,196.79 - $126.50).

• On June 30, 2007, your Account Value before the charge for Secured Returns for Life Plus is taken is $102,307.23. The fee deducted on June 30, 2007 is $127.88 ($102,307.23 x .00125). Therefore, your ending Account Value on June 30, 2007 is $102,179.35 ($102,307.23 - $127.88).

• On September 30, 2007, your Account Value before the charge for Secured Returns for Life Plus is taken is $103,443.69. The fee deducted on September 30, 2007 is $129.30 ($103,443.69 x .00125). Therefore, your ending Account Value on September 30, 2007 is $103,314.39 ($103,443.69 - $129.30).

• This pattern continues until the maturity date for your Benefit of January 1, 2017. On that date, your Account will be credited with a payment. If your current Account Value is less than your current GLB amount, then your Account will be credited with the difference between these two amounts. If your current Account Value is greater than your current GLB amount, then your Account will be credited with the sum of all of Secured Returns for Life Plus charges that have been made. Note that if Secured Returns for Life Plus was revoked or cancelled before the maturity date for your Benefit of January 1, 2017, then no Secured Returns for Life Plus credit will be made to your Account.

EXAMPLE 19: One Year Step-up elected under AB Plan.

• Assume that you are age 65 at issue. Assume that you elect the AB plan. Your Guaranteed Living Benefit amount (“GLB amount”) at issue and your Bonus Base at issue are both equal to $100,000 (your Purchase Payment amount). Assume that you take no withdrawals in your first Account Year. Therefore, on January 1, 2008, your accrued bonus amount is $5,000, which equals 5% of the Bonus Base. Since no withdrawals have been taken, your GLB amount and your Bonus Base both remain at $100,000.

• Assume that on January 1, 2008 your Account Value is $118,000. Since your Account Value is greater than your GLB amount, you may elect to step up to a new ten year period, with a new GLB amount of $118,000. Assume that you do elect to step up. Your GLB amount is now equal to $118,000. Also, your Bonus Base is now equal to $118,000. Your AB plan Maturity Date is now January 1, 2018. Since your new GLB amount of $118,000 is greater than the sum of your old GLB amount of $100,000 plus your old accrued bonus amount of $5,000, your new accrued bonus amount is set equal to $0.

• Assume that you remain in the AB plan until it “matures” on January 1, 2018. Assume that you have taken no withdrawals since your Contract was issued. Your accrued bonus amount is $53,100 ($5,900 per year for nine years). Since your rider has “matured” in the AB plan, the accrued bonus amount becomes $0. Assume that your Account Value on January 1, 2018 is $112,000. Since your Account Value is less than your GLB amount by $6,000, an amount equal to $6,000 will be deposited into your Contract ($118,000 - $112,000).

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APPENDIX K -

RETIREMENT INCOME ESCALATOR^SM

The optional living benefit known as Retirement Income Escalator (“RIE” or “the rider”) was available for all Contracts purchased on or after May 5, 2008 and prior to October 20, 2008 and certain contracts purchased on or after October 20, 2008. The following information applies to your Contract if you elected to participate in RIE. RIE is no longer available for sale on new Contracts.

RIE provides an annual income guarantee for life. You can withdraw up to a guaranteed amount each year and, provided you meet certain requirements, we will continue to send you the guaranteed amount even if your Account Value should go to zero. Your income amount will not decrease, provided that your withdrawals do not exceed the guaranteed amount in any year. In general, the longer you wait for your first withdrawal under RIE, the larger the guaranteed annual income amount. To describe how RIE works, we use the following definitions:

RIE Coverage Date:	Your Issue Date if you are at least age 591⁄2 at issue; otherwise, the first Account Anniversary after you attain age 591⁄2.
Annual Withdrawal Amount:	The total guaranteed amount available for withdrawal each Account Year during your life, provided that you comply with certain conditions. The Annual Withdrawal Amount is equal to your current Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. (You should be aware that certain actions you take could significantly reduce the amount of your Annual Withdrawal Amount.)
Lifetime Withdrawal Percentage:	The percentage used to calculate your Annual Withdrawal Amount. The percentage will be 5%, 6%, or 7% depending upon your age on your first withdrawal under the Contract after your RIE Coverage Date. Once determined, the percentage is set for the life of your RIE.
Withdrawal Benefit Base:	The amount used to calculate (1) your Annual Withdrawal Amount and (2) your “RIE Fee” (see “Cost of RIE”).
RIE Bonus Period:	A ten-year period commencing on the Issue Date and ending on your tenth Account Anniversary. If you “step up” your RIE (described below) during the RIE Bonus Period, the RIE Bonus Period is extended to ten years from the date of the step-up.
Bonus Base:	The amount on which bonuses are calculated. The Bonus Base is equal to the sum of your Purchase Payments, increased by any “step-ups” (described below) and reduced proportionately by any withdrawal taken prior to your RIE Coverage Date or any excess withdrawals (see “Excess Withdrawals” under “Withdrawals Under RIE”).
You and Your:	The terms “you” and “your” refer to the oldest Participant or the surviving spouse of the oldest Participant, as described under “Death of Participant Under RIE with Single-Life Coverage.” In the case of a non-natural Participant, these terms refer to the oldest Annuitant.

Upon annuitization, RIE and any elected optional death benefit automatically terminate.

RIE allows you to withdraw a guaranteed amount of money each year, beginning on your RIE Coverage Date, until the death of any Participant if single-life coverage is elected (or until the death of both the Participant and the Participant’s spouse if joint-life coverage is elected). Your right to take withdrawals under RIE continues regardless of the investment performance of a Designated Fund, provided that you comply with certain requirements. The amount you can withdraw, in any one year, is 5%, 6% or 7% of your Withdrawal Benefit Base, depending upon your age on the date of your first withdrawal after your RIE Coverage Date.

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In addition, if you make no withdrawals in an Account Year during your RIE Bonus Period, we will increase your Withdrawal Benefit Base by an amount equal to 7% of your Bonus Base. The RIE Bonus Period is a 10-year period commencing on your Issue Date. The period will be extended for an additional 10 years commencing on each step-up of the Withdrawal Benefit Base (see “Step-Up Under RIE” in this Appendix), provided that the step up occurs prior to the conclusion of the current 10-year period.

If you are participating in RIE, you may make Purchase Payments only during your first Account Year. After the first Account Anniversary, any Purchase Payments you submit will be returned to you.

To participate in RIE, all of your Account Value must be invested in a Designated Fund at all times during the term of RIE. (The “term” of RIE is for life, unless your Withdrawal Benefit Base is reduced to zero or your RIE is terminated or cancelled as described in this Appendix under “Cancellation of RIE,” “Depleting Your Account Value,” and “Annuitization Under RIE.”) See “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

Under RIE, you have the option of choosing between single-life coverage and joint-life coverage. These options are described in greater detail under “Joint-Life Coverage,” “Death of Participant Under RIE with Single-Life Coverage,” and “Death of Participant Under RIE with Joint-Life Coverage” in this Appendix.

Determining Your Withdrawal Benefit Base

On the Issue Date, we set your Withdrawal Benefit Base equal to your initial Purchase Payment. Thereafter, your Withdrawal Benefit Base is:

• decreased following any withdrawals you take prior to your RIE Coverage Date;

• decreased following any withdrawals you take after your RIE Coverage Date, if such withdrawal is in excess of the Annual Withdrawal Amount at the time of the withdrawal;

• increased by any applicable bonuses;

• increased by any step-ups as described under “Step-Up Under RIE”; and

• increased by any subsequent Purchase Payments you make during the first year following the Issue Date.

Determining Your Annual Withdrawal Amount

Your Annual Withdrawal Amount is calculated when you make your first withdrawal after your RIE Coverage Date. It is a set percentage of your Withdrawal Benefit Base. This percentage, known as the Lifetime Withdrawal Percentage, is determined based upon your age at that time, as follows:

Your Age on the Date of the First Withdrawal After Your RIE Coverage Date*	Lifetime Withdrawal Percentage
591⁄2 - 69	5%
70 - 79	6%
80 or older	7%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage” in this Appendix.

Once set, your Lifetime Withdrawal Percentage will remain the same for the life of your RIE. Your Annual Withdrawal Amount equals your Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. Therefore, if your Withdrawal Benefit Base changes after your Annual Withdrawal Amount is determined, your Annual Withdrawal Amount will also change. The new Annual Withdrawal Amount will be effective on the next Account Anniversary and, at that time, will reflect any increases caused by a step-up or a bonus that took place during the prior Account Year and any decreases caused by excess withdrawals (described under “Withdrawals under RIE”) that were taken during the prior Account Year. The new Annual Withdrawal Amount will be in effect for all subsequent Account Years, unless and until there is a further change in your Withdrawal Benefit Base.

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How RIE Works

Each Account Year, beginning on your RIE Coverage Date, you can take withdrawals totaling up to the amount of your Annual Withdrawal Amount, subject to the terms and conditions discussed below. Even if your Account Value is reduced to zero (other than as a result of an “early withdrawal” or an “excess withdrawal”), as long as your Withdrawal Benefit Base is greater than zero, you will receive your full Annual Withdrawal Amount every year until you die.

If you defer taking any withdrawals in an Account Year during the RIE Bonus Period, your Withdrawal Benefit Base will be increased by an amount equal to 7% of your Bonus Base, thereby increasing your Annual Withdrawal Amount. In this way, if you defer taking withdrawals during your early Account Years, you will be able to take larger withdrawals in later Account Years. Your Annual Withdrawal Amount is not, however, cumulative: any unused portion of your Annual Withdrawal Amount in any Account Year cannot be applied to a future year.

Note that the timing and amount of your withdrawals may significantly decrease, and even terminate, your total RIE Benefit, including reducing your Account Value to zero and thereby terminating your Contract without value, as described further in this Appendix under “Withdrawals Under RIE.” Note also that investing in any Fund, other than a Designated Fund, will cancel RIE, as described in this Appendix under “Cancellation of RIE.”

Here is an example of how RIE works:

Assume that you are age 60 when your Contract is issued with an initial Purchase Payment of $100,000 and that you elected to participate in RIE with single-life coverage. (If you selected joint-life coverage the numbers shown in the example could be different.) Your Withdrawal Benefit Base and your Bonus Base are each set equal to your initial Purchase Payment on your Issue Date. Because you reached age 59¹⁄₂ prior to your Issue Date, your RIE Coverage Date is your Issue Date. You can begin at any time to withdraw up to your Annual Withdrawal Amount each Account Year without reducing your Withdrawal Benefit Base. During the RIE Bonus Period, your Withdrawal Benefit Base will increase by 7% of your Bonus Base each Account Year in which you do not take a withdrawal. By deferring your withdrawals during a RIE Bonus Period you will increase your Withdrawal Benefit Base, which in turn may maximize your Annual Withdrawal Amount. After the RIE Bonus Period, you will still be eligible to take your Annual Withdrawal Amount each year and to step-up your Withdrawal Benefit Base. However, you will no longer be eligible for the 7% bonus each year. (For convenience, assume that the investment performance on your underlying investments remains constant throughout the life of your Contract, except for Account Year 2.)

Assume that, because of good investment performance of the Designated Funds during Account Year 2, your Account Value has grown to $125,000 by the beginning of Account Year 3. Your Contract is, therefore, eligible for an automatic step-up of its Withdrawal Benefit Base and Bonus Base. Assume that we have not increased the percentage used to calculate the RIE Fee on newly issued Contracts; therefore we will step up your Withdrawal Benefit Base and your Bonus Base to $125,000. Your new Annual Withdrawal Amount will be 5% of your new Withdrawal Benefit Base, or $6,250. Going forward, your new Bonus Base will be $125,000, unless increased by another step-up or reduced by an excess withdrawal, and your RIE Bonus Period will now end on your 12^th Account Anniversary (i.e., ten years after the step-up). All values shown are as of the beginning of the Account Year.

Account Year	Account Value	Withdrawal Benefit Base	Bonus Base	Annual Withdrawal Amount	Withdrawals
1	$100,000	$100,000	$100,000	$5,000	0
2	$100,000	$107,000	$100,000	$5,350	0
3	$125,000	$125,000	$125,000	$6,250	0

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Assume you take your first withdrawal when you are age 66 in Account Year 7. Using the above chart, we set your Lifetime Withdrawal Percentage at 5%. Your Annual Withdrawal Amount will be equal to 5% of your Withdrawal Benefit Base. You can begin withdrawing up to $8,000 each Account Year without reducing your Withdrawal Benefit Base, as shown in the following table:

4	$125,000	$133,750	$125,000	$6,688	0
5	$125,000	$142,500	$125,000	$7,125	0
6	$125,000	$151,250	$125,000	$7,563	0
7	$125,000	$160,000	$125,000	$8,000	$8,000
8	$117,000	$160,000	$125,000	$8,000	$8,000

Assume in Account Year 9, you decide to defer taking a withdrawal. Your Withdrawal Benefit Base will increase by 7% of your Bonus Base. Your new Annual Withdrawal Amount will be set equal to 5% of your new Withdrawal Benefit Base, as shown below:

9	$109,000	$160,000	$125,000	$8,000	$0
10	$109,000	$168,750	$125,000	$8,438	$8,438

Assume that in Account Year 14, you again decide to defer taking a withdrawal. Your Withdrawal Benefit Base will not be increased because you are no longer in the Bonus Period, as your RIE Bonus Period ends 10 years after the previous step-up.

11	$100,563	$168,750	$125,000	$8,438	$8,438
12	$92,125	$168,750	$125,000	$8,438	$8,438
13	$83,688	$168,750	$125,000	$8,438	$8,438
14	$75,250	$168,750	$125,000	$8,438	$0
15	$75,250	$168,750	$125,000	$8,438	$8,438

There is no way to know for certain whether forgoing income in one or more years will increase or decrease the total income paid to the Participant over the life of the annuity. Generally speaking, not taking income in a year will increase the Annual Withdrawal Amount due to the bonus and the potential for step-ups. Therefore, not taking income in one or more years will mean that the Participant will take income in fewer years, but will be entitled to more income in those years.

The total lifetime payments to the Participant could be more or less depending upon investment performance over the life of the Contract and the age to which the Participant lives. Better investment performance and a longer life span generally make it advantageous to forgo the Annual Withdrawal Amount in a limited number of years.

In general the Company’s risk is greater when the Participant takes the Annual Withdrawal Amount each year beginning on the RIE Coverage Date.

Withdrawals Under RIE

Withdrawals After the RIE Coverage Date

Starting on your RIE Coverage Date, you may take withdrawals totaling up to your Annual Withdrawal Amount each Account Year without reducing your Withdrawal Benefit Base. These withdrawals will reduce your Account Value by the amount of the withdrawal, but will not change your Withdrawal Benefit Base. These withdrawals are subject to withdrawal charges only to the extent they are in excess of the greatest of:

• the free withdrawal amount permitted under your Contract (discussed under “Free Withdrawal Amount” under “Withdrawal Charge” in the prospectus to which this Appendix is attached);

• your yearly Required Minimum Distribution Amount (subject to conditions discussed under “Certain Tax Provisions” in this Appendix); and

• your Annual Withdrawal Amount.

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Above is an example of withdrawals taken after your RIE Coverage Date. Because they do not exceed your Annual Withdrawal Amount, the withdrawals do not reduce your Withdrawal Benefit Base or your Annual Withdrawal Amount. Because the withdrawals in the example do not exceed your free withdrawal amount permitted under this Contract, your Required Minimum Distribution Amount, or your Annual Withdrawal Amount, they are not subject to any withdrawal charges. If a withdrawal exceeds the greatest of these amounts, then the withdrawal would be subject to withdrawal charges.

Excess Withdrawals

If you take a withdrawal that exceeds your Annual Withdrawal Amount (or your Required Minimum Distribution Amount, if higher), your Withdrawal Benefit Base and your Bonus Base will be reduced proportionately by the excess amount of the withdrawal. In other words, after an “excess withdrawal,” your Bonus Base and your Withdrawal Benefit Base will be reduced according to the following formulas:

Your new Bonus Base	=	A x	(	C	)
				D - E
Your new Withdrawal Benefit Base	=	B x	(	C	)
				D - E

Where:
	A	=	Your Bonus Base immediately prior to the excess withdrawal.
	B	=	Your Withdrawal Benefit Base immediately prior to the excess withdrawal.
	C	=	Your Account Value immediately after the excess withdrawal.
	D	=	Your Account Value immediately prior to the excess withdrawal.
	E	=	Your Annual Withdrawal Amount minus any prior partial withdrawals taken during the current Account Year.

Using the facts of the above example, assume that in Account Year 7, you take two withdrawals: a $4,000 withdrawal followed by a $6,000 withdrawal. Your first withdrawal reduces your Account Value to $121,000 but does not affect your Bonus Base or Withdrawal Benefit Base because it is not in excess of your Annual Withdrawal Amount. Your second withdrawal (when combined with the first) is in excess of your $8,000 Annual Withdrawal Amount. After your second withdrawal, your Bonus Base and your Withdrawal Benefit Base will be reduced as follows:

Your new Bonus Base	=	125,000	x	121,000 - 6,000
				121,000 - (8,000 -4,000)
	=	125,000	x	115,000
				117,000
	=	125,000	x	0.98291
	=	122,863
Your new Withdrawal Benefit Base	=	160,000	x	121,000 - 6,000
				121,000 - (8,000 - 4,000)
	=	160,000	x	115,000
				117,000
	=	160,000	x	0.98291
	=	157,265

Going forward, your new Annual Withdrawal Amount will be reduced to 5% of your new Withdrawal Benefit Base or $7,863.

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You should be aware that, if your Account Value is less than the Withdrawal Benefit Base at the time an excess withdrawal is taken (as in the above example), then your Withdrawal Benefit Base and your Bonus Benefit Base will be reduced by an amount equal to or more than the excess amount withdrawn. Thus, excess withdrawals taken in a down market could severely reduce, and even terminate, your RIE Benefit, including reducing your Account Value to zero and thereby terminating your Contract without value.

Withdrawals Prior to the RIE Coverage Date (Early Withdrawals)

Withdrawals taken prior to your RIE Coverage Date are subject to withdrawal charges, to the extent such withdrawals are in excess of the “free withdrawal amount” permitted under your Contract. In addition, all withdrawals taken prior to your RIE Coverage Date, including any “free withdrawal amounts,” will be treated as “early withdrawals” and your Bonus Base and your Withdrawal Benefit Base will be reduced proportionately to the amount of the withdrawal. In other words, your Bonus Base and your Withdrawal Benefit Base will be reduced by the following formulas:

Your new Bonus Base	=	W x	(	Y	)
				Z
Your new Withdrawal Benefit Base	=	X x	(	Y	)
				Z

Where:
	W	=	Your Bonus Base immediately prior to the early withdrawal.
	X	=	Your Withdrawal Benefit Base immediately prior to the early withdrawal.
	Y	=	Your Account Value immediately after the early withdrawal.
	Z	=	Your Account Value immediately prior to the early withdrawal.

Assume that you are age 45 when your Contract is issued with an initial Purchase Payment of $100,000 and that you elected to participate in RIE with single-life coverage. (If you selected joint-life coverage the number shown in the example could be different.) Your Withdrawal Benefit Base and your Bonus Base are each set equal to your initial Purchase Payment on your Issue Date. Your Withdrawal Benefit Base will increase by 7% of your Bonus Base each year in which you do not take a withdrawal. Your RIE Coverage Date will not occur until your 15^th Account Anniversary (the first Account Anniversary after you reach age 59¹⁄₂). Any withdrawals, including any “free withdrawal amount,” you take prior to that time will be “early withdrawals.”

Assume that because of good investment performance of the Designated Funds during Account Year 2, your Account Value has grown to $125,000 by the beginning of Account Year 3. Your Contract is therefore eligible for an automatic step-up of its Withdrawal Benefit Base and Bonus Base. Assume that we have not increased the percentage used to calculate the RIE Fee on newly issued Contracts; therefore we will step-up your Withdrawal Benefit Base and your Bonus Base to $125,000.

Assume that, in your Account Year 7, you withdraw $10,000. Because you are age 51 (and younger than age 59¹⁄₂), this is an early withdrawal. All values shown are as of the beginning of the Account Year.

Account Year	Account Value	Withdrawal Benefit Base	Bonus Base	Annual Withdrawal Amount	Withdrawals
1	$100,000	$100,000	$100,000	$0	0
2	$100,000	$107,000	$100,000	$0	0
3	$125,000	$125,000	$125,000	$0	0
4	$125,000	$133,750	$125,000	$0	0
5	$125,000	$142,500	$125,000	$0	0
6	$125,000	$151,250	$125,000	$0	0
7	$125,000	$160,000	$125,000	$0	$10,000

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At this point, your Bonus Base and your Withdrawal Benefit Base will be recalculated as follows:

Your new Bonus Base	=	125,000	x	125,000 - 10,000
				125,000
	=	125,000	x	115,000
				125,000
	=	125,000	x	0.92000
	=	115,000
Your new Withdrawal Benefit Base	=	160,000	x	125,000 - 10,000
				125,000
	=	160,000	x	115,000
				125,000
	=	160,000	x	0.92000
	=	147,200

Your Annual Withdrawal Amount will still be $0 because your have not reached your RIE Coverage Date.

You should be aware that early withdrawals could severely reduce, and even terminate, your RIE Benefit, including reducing your Account Value to zero and thereby terminating your Contract without value.

In addition to reducing your RIE, any withdrawal before you reach age 59¹⁄₂ could have adverse state and federal tax liabilities. You should consult a qualified tax professional for more information.

Depleting Your Account Value

If your Account Value is reduced to zero immediately following an “excess withdrawal” or an “early withdrawal” (as described above), then your Withdrawal Benefit Base will also be reduced to zero and your Contract will terminate without value. Therefore, your Contract, as well as any benefits available with RIE, will end.

If, on the other hand, your Account Value is reduced to zero through any combination of poor investment performance of the Designated Funds, Contract charges, and withdrawals other than excess or early withdrawals, your Withdrawal Benefit Base will not be reduced. Your Contract will therefore end, but your RIE will continue. That is to say, regardless of your age on the day the Account Value is reduced to zero, you will be entitled to receive your Annual Withdrawal Amount each year for as long as you live.

Cost of RIE

If you elected RIE, we deduct a quarterly fee from your Account Value (“RIE Fee”). The RIE Fee will be taken as a specific deduction from your Account Value on the last valuation day of each Account Quarter. The RIE Fee will be a percentage of your Withdrawal Benefit Base. This percentage will equal 0.1875% of your Withdrawal Benefit Base on the last day of the Account Quarter, if you elected single-life coverage (0.2375% for joint-life coverage). The maximum RIE Fee you can pay in any one Account Year is equal to 0.75% of the highest Withdrawal Benefit Base at any point in that Account Year, if you elected single-life coverage (0.95% for joint-life coverage).

Your RIE Fee will not change during an Account Year, unless you take one of the following specific actions:

• If you make an additional Purchase Payment during your first Account Year, you will increase your Withdrawal Benefit Base and thus your RIE Fee.

• If you make a withdrawal before your RIE Coverage Date or a withdrawal in excess of your Annual Withdrawal Amount, you will decrease your Withdrawal Benefit Base and thus your RIE Fee.

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The investment performance of the Designated Funds will not affect your RIE Fee during an Account Year. However, as explained in this Appendix under “Step-Up Under RIE,” favorable investment performance may cause the Withdrawal Benefit Base to increase on an Account Anniversary. That would also increase your RIE Fee.

We will continue to deduct the RIE Fee until you annuitize your Contract, your Account Value reduces to zero, or your RIE is terminated or cancelled as described under “Cancellation of RIE” in this Appendix.

We reserve the right to make special offers from time to time. Specifically, we reserve the right to waive the RIE Fee for a limited period on newly issued Contracts. The same waiver would apply to all Contracts issued while we are making the special offer.

Step-Up Under RIE

Regardless of your age on the Issue Date, on each Account Anniversary prior to your Maximum Annuity Commencement Date, we will automatically step-up your Withdrawal Benefit Base and your Bonus Base each to equal your Account Value, provided that certain requirements are satisfied. First, you must meet certain eligibility requirements:

• Your Account Value must equal no more than $5,000,000. (For purposes of determining the $5,000,000 limit, we reserve the right, in our sole discretion, to aggregate your Account Value with the account values of all other variable annuity contracts you own issued by Delaware Life or its affiliates.)

• Your Account Value must be greater than your current Withdrawal Benefit Base, adjusted for any 7% bonus increases.

Note that we have reserved the right to add another requirement for eligibility. We have reserved the right to only allow step-ups if your money is invested in a Fund that is a Designated Fund for newly issued contracts. (See “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached)

If you satisfy the eligibility requirements, then we consider whether market conditions have caused us to increase the percentage used to calculate the RIE Fee on newly issued Contracts. If we are no longer issuing Contracts with the RIE rider then the percentage we use to calculate your RIE Fee will be set based upon current market conditions at that time. Significant changes in stock market prices, interest rate fluctuations, and competitive industry trends are among the market conditions we consider in whether to change the fee.

• If we have not had to increase the percentage as described above, the percentage we use to calculate your RIE fee will remain unchanged and we will automatically step-up your Withdrawal Benefit Base.

• If we have had to increase the percentage as described above, we offer you the opportunity to step-up at the higher percentage. In this case, your prior written consent is required to accept the higher percentage used to calculate your RIE Fee and step-up your Withdrawal Benefit Base. If you do not consent to the step-up and higher percentage, the step-up will not be implemented and all subsequent step-ups under your RIE will also be suspended. You may thereafter submit an election form to us, however, to consent to the higher percentage and reactivate subsequent automatic step-ups.

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After a step-up, your Annual Withdrawal Amount will be equal to your new Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. Here is an example of how we calculate a step-up under RIE:

Assume that you are age 60 when your Contract is issued with an initial Purchase Payment of $100,000 and that you elected to participate in RIE with single-life coverage. (If you selected joint-life coverage the numbers shown in the example could be different.) Assume that, because of good investment performance of the Designated Funds during Account Year 2, your Account Value has grown to $125,000 by the beginning of Account Year 3. Your Contract is, therefore, eligible for an automatic step-up of its Withdrawal Benefit Base and Bonus Base. Assume that we have not increased the percentage used to calculate the RIE Fee on newly issued Contracts; therefore we will step up your Withdrawal Benefit Base and your Bonus Base to $125,000. Your new Annual Withdrawal Amount will be 5% of your new Withdrawal Benefit Base, or $6,250. All values shown are as of the beginning of the Account Year.

Account Year	Account Value	Withdrawal Benefit Base	Bonus Base	Annual Withdrawal Amount	Withdrawals
1	$100,000	$100,000	$100,000	$5,000	0
2	$100,000	$107,000	$100,000	$5,350	0
3	$125,000	$125,000	$125,000	$6,250	0
4	$125,000	$133,750	$125,000	$6,688	0
5	$125,000	$142,500	$125,000	$7,125	0
6	$125,000	$151,250	$125,000	$7,563	0
7	$125,000	$160,000	$125,000	$8,000	0

Going forward, your new Bonus Base will be $125,000, unless increased by another step-up or reduced by an excess withdrawal, and your RIE Bonus Period will now end on your 12^th Account Anniversary (i.e., ten years after the step-up).

Joint-Life Coverage

On the Issue Date, you had the option of electing RIE with single-life coverage or, for a higher RIE Fee, with joint-life coverage. Once you make the election, you cannot switch between joint-life and single-life coverage, regardless of any change in life events. Joint-life coverage is not available if you are unmarried on the Issue Date.

Joint-life coverage can be elected on an individually-owned Contract or on a co-owned Contract. On an individually-owned Contract, joint-life coverage is available only if your spouse is the sole beneficiary on the Issue Date and remains the sole beneficiary while RIE is in effect. On a co-owned Contract, joint-life coverage is available only if you and your spouse are the only co-owners on the Issue Date and remain so while RIE is in effect. Whereas single-life coverage provides annual withdrawals under RIE only until any Participant dies, joint-life coverage provides annual withdrawals under RIE for as long as either you or your spouse is alive. (Note, however, upon the death of a spouse, the Contract, (including RIE) ends. To take annual withdrawals under RIE’s joint-life feature after the death of a spouse, the surviving spouse must first elect to continue the Contract through the “Spousal Continuance” provision.) See also “Death of Participant Under RIE with Joint-Life Coverage” in this Appendix.

If you elected joint-life coverage, the RIE Coverage Date will be your Issue Date if the younger spouse is at least age 59¹⁄₂ on the Issue Date, and will be the first Account Anniversary after the younger spouse attains (or would have attained) age 59¹⁄₂ if the younger spouse is less than age 59¹⁄₂ on the Issue Date. (For purposes of joint-life coverage, the younger spouse refers to the person who was the younger spouse on the Issue Date, even if that person has died or is no longer married to the person who was his or her spouse on the Issue Date.) Thus, “early withdrawals” will be

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determined based upon this definition of your RIE Coverage Date. Your Lifetime Withdrawal Percentage will be determined based on the age that the younger spouse is (or would have been) on the date of the first withdrawal under the Contract after the RIE Coverage Date, as follows:

Age of Younger Spouse on Date of the  First Withdrawal After Your RIE Coverage Date	Lifetime Withdrawal Percentage
591⁄2 - 69	5%
70 - 79	6%
80 - or older	7%

Once set, your Lifetime Withdrawal Percentage will remain the same for the life of your RIE. Your Annual Withdrawal Amount equals your Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage.

The two spouses on the Issue Date are the only two people covered under the joint-life feature. If a Participant remarries, the new spouse is not covered under the joint-life feature. Therefore, if the spouse on the Issue Date is no longer your spouse, RIE benefits continue for your life and, when you die, annual withdrawals are no longer available. Note that, when you elect joint-life coverage, you also elect the higher joint-life fee. That fee will not change as long as RIE is in effect, regardless of any change in life events.

If one spouse is significantly younger than the other spouse, you should carefully consider whether joint-life coverage is an appropriate choice in light of the possibility of a longer waiting period before withdrawals under RIE can be made and in light of the higher fee for joint-life coverage.

Joint-life coverage may not be available on all Contracts.

Cancellation of RIE

Should you decide that RIE is no longer appropriate for you, you may cancel RIE at any time. Upon cancellation, all benefits and charges under RIE shall cease. Once cancelled, RIE cannot be reinstated.

Although transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached, RIE will be cancelled automatically:

• if any Purchase Payment is allocated to an investment option other than a Designated Fund; or

• if any portion of Account Value maintained in a Designated Fund is transferred into an investment option other than a Designated Fund.

A change of ownership of the Contract may also cancel your benefits under RIE.

Death of Participant Under RIE with Single-Life Coverage

If you selected single-life coverage, RIE terminates on the death of any Participant and the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract. If your surviving spouse is the sole Beneficiary and elects to continue the Contract, your spouse has the additional option of electing to participate in a new RIE rider on the original Contract (assuming that at the time of election RIE is available to new Participants and your surviving spouse meets certain eligibility requirements). If the surviving spouse makes such election:

• the new Account Value and the new Withdrawal Benefit Base will both be set equal to the Death Benefit amount; and

• the new RIE Fee will be set by us based on market conditions at the time and may be higher than the current RIE Fee.

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Death of Participant Under RIE with Joint-Life Coverage

If the surviving spouse on the Death Benefit Date was not the spouse of a Participant on the original Contract’s Issue Date, then this section does not apply, even if joint-life coverage was elected. In such case, if a Participant dies while participating in RIE, the provisions of the section in this Appendix titled “Death of Participant Under RIE with Single-Life Coverage” will apply.

If you purchased joint-life coverage and one of the Participants dies, RIE will continue, provided that the surviving spouse, as the sole beneficiary, continues the Contract. In such case:

• the new Account Value will be equal to the Death Benefit;

• the RIE Fee for the joint-life coverage option will continue for the surviving spouse as it was immediately prior to the death of the Participant;

• the Withdrawal Benefit Base will remain unchanged until the next Account Anniversary when a step-up could apply due to an increase in Account Value (see “Step-Up Under RIE” in this Appendix);

• if withdrawals under RIE have not yet begun, the Lifetime Withdrawal Percentage will be based on the age the younger spouse attains (or would have attained) on the date of the first withdrawal after the RIE Coverage Date;

• if withdrawals under RIE have already begun, the Lifetime Withdrawal Percentage will be the Lifetime Withdrawal Percentage that applied to the Contract prior to the death of the Participant; and

• the RIE Bonus Period will continue unchanged from the original contract.

At the death of the surviving spouse, the Contract, including RIE, will terminate.

If you purchased joint-life coverage and the deceased Participant’s surviving spouse does not continue the Contract, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Annuitization Under RIE

Under the terms of RIE, if your Account Value is greater than zero on your Maximum Annuity Commencement Date, you may elect to:

(1) surrender your Contract and receive your Cash Surrender Value,

(2) annuitize your Account Value under one of the then currently available Annuity Options, or

(3) annuitize your remaining Account Value as a single-life annuity (or a joint-life annuity, if joint-life coverage was elected at issue and is still eligible) with an annualized annuity payment of not less than your then current Annual Withdrawal Amount.

If you make no election, we will default your choice to option 3.

If your Account Value has been reduced to zero (other than as a result of an “early withdrawal” or an “excess withdrawal”), and your Withdrawal Benefit Base is greater than zero on or before your Maximum Annuity Commencement Date, you will receive your full Annual Withdrawal Amount until you die. For a more complete discussion of this, see “Depleting Your Account Value” in this Appendix.

Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as RIE. When you elect to participate in the Retirement Income Escalator Benefit, we will inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit. To assist you in complying with the RMD requirements, each year, we will notify you in early January of your calculated Yearly RMD Amount and inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit.

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In the event that your Yearly RMD Amount attributable to your Contract is greater than the maximum withdrawal amount permitted each year under the RIE Benefit, we are currently waiving withdrawal provisions as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in the RIE Benefit, we reduce your Account Value dollar for dollar by the amount of the withdrawal. In addition, for that year only, your Annual Withdrawal Amount under the RIE Benefit will be reduced, dollar for dollar, by the amount of the withdrawal. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than your Annual Withdrawal Amount. In other words, we will not reduce your Annual Withdrawal Amount for future years (or your Withdrawal Benefit Base or Bonus Base), if a Yearly RMD Amount exceeds your Annual Withdrawal Amount, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

If there is any change to the current Code or IRS rules governing the timing or determination of RMD amounts (including, but not limited to, amendments to the current IRS regulations or the issuance of IRS guidance), then we reserve the right to reduce the Annual Withdrawal Amount, Withdrawal Benefit Base or Bonus Base per the terms of the rider regarding excess withdrawals, when a Yearly RMD Amount withdrawn from your Contract exceeds your Annual Withdrawal Amount. (See “Withdrawals under RIE” in this Appendix) Notice will be given to Contract Owners before we exercise this right.

For further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

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APPENDIX L - Income ON Demand^®

The optional living benefit known as Income ON Demand (“Income ON Demand,” “Benefit,” or “the rider”) was available for all Contracts purchased on or after March 5, 2007 and prior to October 20, 2008 and certain contracts purchased on or after October 20, 2008. The following information applies to your Contract if you elected to participate in Income ON Demand. Income ON Demand is no longer available for sale on new Contracts.

To describe how Income ON Demand works, we use the following definitions:

Income ON Demand Coverage Date:	Your Issue Date if you are at least age 55 at issue, otherwise the first Account Anniversary following your 55th birthday.
Annual Income Amount:	The amount added to your Stored Income Balance on each Account Anniversary beginning on the Income ON Demand Coverage Date; it is equal to 5% of your Income Benefit Base on the date of crediting.
Stored Income Balance:	The amount you may withdraw at any time after age 591⁄2 without reducing the Benefit.
Income Benefit Base:	The amount used to calculate your Annual Income Amount and your “Income ON Demand Fee” (see “Cost of Income ON Demand”).
You and Your:	The terms “you” and “your” refer to the oldest Participant or the surviving spouse of the oldest Participant, as described under the sections entitled “Death of Participant Under Income ON Demand with Single-Life Coverage” and “Death of Participant Under Income ON Demand with Joint-Life Coverage.” In the case of a non-natural Participant, these terms refer to the oldest Annuitant.

Upon annuitization, Income ON Demand and any elected optional death benefit automatically terminate.

Income ON Demand allows you to withdraw a guaranteed amount each year, beginning at age 59¹⁄₂, until the death of any Participant if single-life coverage is elected (or until the death of both the Participant and the Participant’s spouse if joint-life coverage is elected), regardless of the investment performance of the Designated Funds, provided that you comply with certain requirements. The amount you can withdraw, in any one year, is based on 5% of your Income Benefit Base. Any amount that you do not withdraw in a given year will be stored in the Stored Income Balance and can be withdrawn at any time in the future. The amount you can withdraw each year can be increased or decreased as described under “Determining Your Stored Income Balance.”

In addition, if you make no withdrawals during the first 10 Account Years, regardless of your age on the Issue Date, we will credit to your Account Value an amount equal to the excess, if any, of your total Purchase Payments over your then Account Value. If you are participating in Income ON Demand, you may make Purchase Payments only during your first Account Year. After the first Account Anniversary, any Purchase Payments you submit will be returned to you.

You also have the option of choosing between single-life coverage and joint-life coverage. These options are described in greater detail in this Appendix under “Joint-Life Coverage” and the sections entitled “Death of Participant Under Income ON Demand with Single-Life Coverage” and “Death of Participant Under Income ON Demand with Joint-Life Coverage.”

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To participate in Income ON Demand, all of your Account Value must be invested in a Designated Fund at all times during the term of Income ON Demand. (The term of Income ON Demand is for life, unless your Income Benefit Base is reduced to zero or Income ON Demand is terminated or cancelled as described in this Appendix under “Cancellation of Income ON Demand,” “Depleting Your Account Value,” and “Annuitization Under Income ON Demand.”) See “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

Determining Your Income Benefit Base

On the Issue Date, we set your Income Benefit Base equal to your initial Purchase Payment. Thereafter, your Income Benefit Base is:

• decreased following any withdrawals you take prior to becoming age 59¹⁄₂;

• decreased following any withdrawals you take after becoming age 59¹⁄₂, if such withdrawal is in excess of the Stored Income Balance at the time of the withdrawal;

• increased by any step-ups as described under “Step-Up Under Income ON Demand” in this Appendix;

• increased to the extent you exercise your one-time option to use any amount of your Stored Income Balance to increase your Income Benefit Base, as described in this Appendix under “How Income ON Demand Works;” and

• increased by any subsequent Purchase Payments you make during the first year following the Issue Date.

Determining Your Stored Income Balance

On the Income ON Demand Coverage Date, your Stored Income Balance will equal your Annual Income Amount (i.e., 5% of your Income Benefit Base on that Date). After the initial Stored Income Balance has been set, your Stored Income Balance:

• increases by 5% of any subsequent Purchase Payments you make during the first year following the Issue Date,

• increases on each Account Anniversary by the amount of your Annual Income Amount determined on that Anniversary,

• decreases by the amount of any withdrawals you take, and

• decreases by the amount you use in exercising your “one-time” option to increase your Income Benefit Base (described below under “How Income ON Demand Works”).

How Income ON Demand Works

Under the terms of Income ON Demand, you can take withdrawals up to the amount of your Stored Income Balance at any time, subject to the terms and conditions discussed below. If your Account Value is reduced to zero (other than as a result of an “early withdrawal” or an “excess withdrawal”), as long as your Income Benefit Base is greater than zero, you will receive your full Annual Income Amount every year until you die. Although your Stored Income Balance will begin accumulating on the Income ON Demand Coverage Date, you may not begin withdrawing your Stored Income Balance until you are (or, for joint-life coverage, the younger spouse is) at least age 59¹⁄₂ without reducing your Income Benefit Base. You can continue to withdraw your Stored Income Balance until your Annuity Commencement Date.

Note that the timing and amount of your withdrawals may significantly decrease, and even terminate, your total Income ON Demand Benefit, including reducing your Account Value to zero and thereby terminating your Contract without value, as described further in this Appendix under “Withdrawals Under Income ON Demand “ and “Tenth-Year Credit.” Note also that investing in any Fund, other than a Designated Fund, will cancel Income ON Demand as described under “Cancellation of Income ON Demand” in this Appendix.

Your Stored Income Balance can be used in two ways. You can withdraw all or a portion of your Stored Income Balance through partial withdrawals, or you can use all or a portion of your Stored Income Balance to effect a “one-time” increase of your Income Benefit Base.

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Withdrawals from your Stored Income Balance can be taken at any time after age 59¹⁄₂ without affecting your Income Benefit Base. If, at any time after age 59¹⁄₂ and prior to your Annuity Commencement Date, you make a withdrawal that does not exceed your Stored Income Balance:

• your Stored Income Balance will be decreased by the amount withdrawn, and

• the withdrawal will not be subject to surrender charges.

You also have the option to use all or a portion of your Stored Income Balance to increase your Income Benefit Base. This option allows you to increase your future Annual Income Amount. This option may be exercised only once and must occur prior to your Annuity Commencement Date and prior to the later of your tenth Account Anniversary and the Account Anniversary following your 65th birthday. If you choose to use any portion of your Stored Income Balance to increase your Income Benefit Base:

• your Stored Income Balance will be decreased by the amount used;

• the amount of Stored Income Balance used will be added to your Income Benefit Base; and

• your Annual Income Amount will be reset on your next Account Anniversary to equal 5% of the then Income Benefit Base.

After you exercise this “one-time” option, your new Annual Income Amount will be added to your Stored Income Balance on each Account Anniversary, unless and until there is another occurrence (as noted in this section) that changes your Annual Income Amount.

Here is an example of how Income ON Demand works.

Assume that you are age 60 when your Contract is issued with an initial Purchase Payment of $100,000. Assume you elected to participate in Income ON Demand. Your Income Benefit Base is equal to your initial Purchase Payment on your Issue Date. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). Therefore, $5,000 will be added each year to your Stored Income Balance.

Year	Annual Income Amount		Stored Income Balance
	(Amount Added to Stored Income Balance)		(Cumulative Balance if No Withdrawals Taken)
1	$5,000	g	$  5,000
2	$5,000	g	$10,000
3	$5,000	g	$15,000
4	$5,000	g	$20,000
5	$5,000	g	$25,000
6	$5,000	g	$30,000
7	$5,000	g	$35,000
8	$5,000	g	$40,000
9	$5,000	g	$45,000
10	$5,000	g	$50,000

Assume that, immediately prior to your tenth Account Anniversary, you decide to use the full amount of your Stored Income Balance ($50,000) to increase your Income Benefit Base. Your Income Benefit Base will be increased to $150,000. Your Annual Income Amount will be $7,500 (5% of your Income Benefit Base). Therefore $7,500 will be added each year to your Stored Income Balance.

Year	Annual Income Amount		Stored Income Balance
	(Amount Added to Stored Income Balance)		(Cumulative Balance if No Withdrawals Taken)
11	$7,500	g	$  7,500
12	$7,500	g	$15,000
13	$7,500	g	$22,500
14	$7,500	g	$30,000
15	$7,500	g	$37,500

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Assume instead that you decide to take a lump sum withdrawal of $50,000, thus depleting your Stored Income Balance. Your Income Benefit Base will remain at $100,000. Your Annual Income Amount remains at $5,000 (5% of your Income Benefit Base). Therefore $5,000 will be added each year to your Stored Income Balance.
Year	Annual Income Amount		Stored Income Balance
	(Amount Added to Stored Income Balance)		(Cumulative Balance if No Additional Withdrawals)
11	$5,000	g	$5,000
12	$5,000	g	$10,000
13	$5,000	g	$15,000
14	$5,000	g	$20,000
15	$5,000	g	$25,000

Withdrawals Under Income ON Demand

Withdrawals After Age 59¹⁄₂

Starting at age 59¹⁄₂, you may take annual withdrawals up to your Stored Income Balance without reducing your future Annual Income Amount. These withdrawals will reduce your Stored Income Balance by the full amount of the withdrawal, but will not change your Income Benefit Base. Withdrawals taken after you reach age 59¹⁄₂ are subject to withdrawal charges only to the extent they are in excess of the greatest of:

• the free withdrawal amount permitted under your Contract,

• your Stored Income Balance, or

• your yearly Required Minimum Distribution Amount (subject to conditions discussed in this Appendix under “Certain Tax Provisions”).

Here is an example of a partial withdrawal that does not exceed your Stored Income Balance.

Using the facts of the first example, assume that, immediately prior to your tenth Account Anniversary, you decide to take a lump sum withdrawal of $30,000 from the $50,000 in your Stored Income Balance, thus reducing your Stored Income Balance to $20,000. Your Income Benefit Base will remain at $100,000. Your Annual Income Amount will remain at $5,000 (5% of your Income Benefit Base). Therefore $5,000 will be added each year to your Stored Income Balance.
Year	Annual Income Amount		Stored Income Balance
	(Amount Added to Stored Income Balance)		(Cumulative Balance if No Additional Withdrawals)
11	$5,000	g	$25,000
12	$5,000	g	$30,000
13	$5,000	g	$35,000
14	$5,000	g	$40,000
15	$5,000	g	$45,000

Excess Withdrawals

If you take a withdrawal that exceeds your Stored Income Balance (or your Required Minimum Distribution Amount, if higher), your Income Benefit Base will be reset to equal the lesser of:

• the Income Benefit Base prior to the withdrawal reduced by the amount of the withdrawal in excess of the Stored Income Balance (or your yearly Required Minimum Distribution Amount, if higher), and

• the Account Value after the withdrawal.

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Your Annual Income Amount will be recalculated based on the reduced Income Benefit Base. Here is an example of a withdrawal that exceeds your Stored Income Balance, thus reducing future Annual Income Amounts even if the market has performed well.

Using the facts of the first example, assume that, immediately prior to your tenth Account Anniversary, you decide to take a lump sum payment of $60,000 thus exceeding your Stored Income Balance of $50,000. Assume also that your Account Value immediately prior to the withdrawal is $120,000. Your Income Benefit Base will be reset to the lesser of (a) your old Income Benefit Base reduced by the excess of your withdrawal over the Stored Income Balance [$100,000 - ($60,000 - $50,000) = $90,000)] or (b) your new Account Value after the withdrawal ($120,000 - $60,000 = $60,000) or $60,000. Your new Annual Income Amount will be $3,000 (5% of your Income Benefit Base). Therefore $3,000 will be added each year to your Stored Income Balance.
Year	Annual Income Amount		Stored Income Balance
	(Amount Added to Stored Income Balance)		(Cumulative Balance if No Additional Withdrawals)
11	$3,000	g	$3,000
12	$3,000	g	$6,000
13	$3,000	g	$9,000
14	$3,000	g	$12,000
15	$3,000	g	$15,000

Excess withdrawals taken in a down market could even more severely reduce, and even terminate, your benefits under Income ON Demand, including reducing your Account Value to zero and thereby terminating your Contract without value. Here is an example of an excess withdrawal taken after the investment performance of the Designated Funds has reduced your Account Value:

Using the facts of the preceding example, assume that your Account Value immediately prior to the withdrawal is $80,000. Your Income Benefit Base will be reset to equal the lesser of (a) your previous Income Benefit Base reduced by the excess of your withdrawal over the Stored Income Balance [$100,000 - ($60,000 - $50,000) = $90,000)] and (b) your Account Value immediately after the withdrawal ($80,000 - $60,000 = $20,000) or $20,000. Your new Annual Income Amount will be $1,000 (5% of your Income Benefit Base). Therefore, only $1,000 will be added each year to your Stored Income Balance.
Year	Annual Income Amount		Stored Income Balance
	(Amount Added to Stored Income Balance)		(Cumulative Balance if No Additional Withdrawals)
11	$1,000	g	$1,000
12	$1,000	g	$2,000
13	$1,000	g	$3,000
14	$1,000	g	$4,000
15	$1,000	g	$5,000

Withdrawals Prior to Age 59¹⁄₂ (Early Withdrawals)

All withdrawals taken before age 59¹⁄₂, including any “free withdrawal amounts,” will be considered “early withdrawals” and the Income Benefit Base will be reset to equal the lesser of:

• the Income Benefit Base prior to the withdrawal reduced by the amount of the withdrawal in excess of the Stored Income Balance (or your yearly Required Minimum Distribution Amount, if higher), and

• the Account Value after the withdrawal.

Your Annual Income Amount will be recalculated based on the reduced Income Benefit Base.

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In addition, withdrawals prior to age 59¹⁄₂ will also be subject to withdrawal charges, to the extent such withdrawals are in excess of the “free withdrawal amount” permitted under your Contract. Early withdrawals could severely reduce, and even terminate, your benefits under Income ON Demand, including reducing your Account Value to zero and thereby terminating your Contract without value. Here is an example of an early withdrawal taken after the investment performance of the Designated Funds has reduced your Account Value.

Assume that you are age 50 when your Contract is issued with an initial Purchase Payment of $100,000 and that you elected to participate in Income ON Demand. Your Income Benefit Base is set equal to your initial Purchase Payment on your Issue Date ($100,000), but benefits under Income ON Demand do not begin to accrue until the first Account Anniversary after your 55th birthday (your Income ON Demand Coverage Date). Assume also that poor investment performance of your underlying funds has reduced your Account Value to $85,000 by the end of your second Account Year. At that time, you decide to withdraw $5,000, further reducing your Account Value to $80,000. Your Income Benefit Base will be reset to $80,000 which is the lesser of (1) your previous Income Benefit Base reduced by the amount of the withdrawal in excess of the Stored Income Balance ($100,000 - $5,000 = $95,000) and (2) your Account Value immediately after the withdrawal ($85,000 - $5,000 = $80,000). Assuming you take no additional withdrawals prior to your Income ON Demand Coverage Date, your Annual Income Amount will be $4,000 (5% of your Income Benefit Base.)
Year	Income Benefit Base	Annual Income Amount		Stored Income Balance
	(beginning of Account Year)	(Amount Added to Stored Income Balance)		(Cumulative Balance if No Additional Withdrawals)
1	$100,000	$0	g	$0
2	$100,000	$0	g	$0
3	$80,000	$0	g	$0
4	$80,000	$0	g	$0
5	$80,000	$0	g	$0
6	$80,000	$4,000	g	$4,000
7	$80,000	$4,000	g	$8,000
8	$80,000	$4,000	g	$12,000
9	$80,000	$4,000	g	$16,000
10	$80,000	$4,000	g	$20,000

In addition to reducing your benefits under Income ON Demand, any withdrawal before age 59¹⁄₂ could have adverse state and federal tax liabilities. You should consult a qualified tax professional for more information.

Depleting Your Account Value

If your Account Value is reduced to zero immediately following an “excess withdrawal” or an “early withdrawal” (as described above), then your Stored Income Balance and your Income Benefit Base will both be reduced to zero and your Contract will terminate without value. Therefore, your Contract, as well as any benefits available with Income ON Demand, will end.

If, on the other hand, your Account Value is reduced to zero through any combination of poor investment performance of the Designated Funds, Contract charges, and withdrawals other than excess or early withdrawals, your Income Benefit Base will not be reduced. Your Contract will therefore end, but Income ON Demand will continue. That is to say, regardless of your age on the day the Account Value is reduced to zero, you will be entitled to receive annual payments. These payments will be equal to 5% of the amount of your Income Benefit Base, as determined on that day and increased (if you choose) by any remaining Stored Income Balance as described below. These payments will begin on the first Account Anniversary after your Account Value goes to zero and continue for as long as you live. If you elected joint-life coverage, the payments will continue until the death of both you and your spouse as described in this Appendix under “Death of Participant Under Income ON Demand with Joint-Life Coverage.” If you have any

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remaining Stored Income Balance on the day your Account Value is reduced to zero, you will be notified that, before you begin to receive your “annual lifetime payments,” you must deplete your Stored Income Balance by:

(a) taking a lump sum withdrawal of your remaining Stored Income Balance,

(b) using the remaining amount of your Stored Income Balance to increase your Income Benefit Base (and thus the amount of your “annual lifetime payments”), if you have not already exercised this one-time option as described in this Appendix under “How Income ON Demand Works,” or

(c) using a combination of (a) and (b).

Because the Contract has ended, a lump sum withdrawal will not be subject to any withdrawal charges. You should be aware, however, that a lump sum withdrawal could be subject to state and federal income tax liability. You should consult a qualified tax professional for more information.

Cost of Income ON Demand

If you elected Income ON Demand, we will deduct a quarterly fee from your Account Value (“Income ON Demand Fee”). The Income ON Demand Fee will be taken as a specific deduction from your Account Value on the last valuation day of each Account Quarter. The Fee will be a percentage of your Income Benefit Base. This percentage rate will equal 0.1625% of your Income Benefit Base on the last day of the Account Quarter, if you elected single-life coverage (0.2125% for joint-life coverage). The maximum Income ON Demand Fee you can pay in any one Account Year is equal to 0.65% of the highest Income Benefit Base at any point in that Account Year, if you elected single-life coverage (0.85% for joint-life coverage).

Your Income ON Demand Fee will not change during an Account Year, unless you take one of the following specific actions:

• If you make an additional Purchase Payment during your first Account Year, you will increase your Income Benefit Base and thus your Income ON Demand Fee.

• If you take advantage of the one-time option to use all or a portion of your Stored Income Balance to increase your Income Benefit Base and thus your Income ON Demand Fee.

• If you make a withdrawal prior to age 59¹⁄₂ or a withdrawal in excess of your Stored Income Balance, you will decrease your Income Benefit Base and thus your Income ON Demand Fee.

The investment performance of the Designated Funds will not affect your Income ON Demand Fee during an Account Year. However, as stated in this Appendix under “Step-Up Under Income ON Demand,” favorable investment performance may cause the Income Benefit Base to increase on an Account Anniversary. That would also increase your Income ON Demand Fee.

We will continue to deduct the Income ON Demand Fee until you annuitize your Contract, your Account Value reduces to zero, or your Income ON Demand Benefit is cancelled as described under “Cancellation of Income ON Demand” in this Appendix.

Tenth-Year Credit

If you make no withdrawals during your first ten Account Years, on your tenth Account Anniversary, we will credit your Account Value with an amount equal to the excess, if any, of your total Purchase Payments over your then Account Value. Your Income Benefit Base will not change. This tenth-year credit will be allocated to the Designated Fund in which you are invested at the time.

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Step-Up Under Income ON Demand

Regardless of your age on the Issue Date, on each Account Anniversary prior to your Maximum Annuity Commencement Date, we will automatically step-up your Income Benefit Base, provided that you satisfy certain requirements. First, you must meet eligibility requirements:

• Your Account Value less your Stored Income Balance must equal no more than $5,000,000. (For purposes of determining the $5,000,000 limit, we reserve the right, in our sole discretion, to aggregate your Account Value with the account values of all other variable annuity contracts you own issued by Delaware Life or its affiliates.)

• Your Account Value less your Stored Income Balance must be greater than your current Income Benefit Base. (If you have not yet reached your Income ON Demand Coverage Date and therefore do not yet have a Stored Income Balance, your Account Value must only be greater than your current Income Benefit Base.)

If you satisfy the eligibility requirements, we then consider whether market conditions have caused us to increase the percentage rate used to calculate the Income ON Demand Fee on newly issued Contracts. If we are no longer issuing Contracts with the Income ON Demand rider then the percentage rate we use to calculate your Income ON Demand Fee will be set based upon current market conditions at that time. Significant changes in stock market prices, interest rate fluctuations, and competitive industry trends are among the market conditions we consider in whether to change the fee.

• If we have not had to increase the percentage rate as described above, the percentage rate we use to calculate your Income ON Demand Fee will remain unchanged and we will automatically step-up your Income Benefit Base.

• If we have had to increase the percentage rate as described above, we offer you the opportunity to step-up at the higher percentage rate. In this case, your written consent is required to accept the higher percentage rate used to calculate your Income ON Demand Fee and step-up Income ON Demand. If you do not consent to the step-up and higher percentage, the step-up will not be implemented and all subsequent step-ups under Income ON Demand will also be suspended. You may thereafter submit an election form to us, however, in order to consent to the then-applicable percentage rate and thus reactivate subsequent automatic step-ups.

At the time of step-up, the step-up will increase your Income Benefit Base to an amount equal to your Account Value less your Stored Income Balance. After the step-up, your Annual Income Amount will be 5% of your new Income Benefit Base.

Joint-Life Coverage

On the Issue Date, you had the option of electing Income ON Demand with single-life coverage or, for a higher Income ON Demand Fee, with joint-life coverage. Once you make the election, you cannot switch between joint-life and single-life coverage, regardless of any change in life events. Joint-life coverage is not available if you are unmarried on the Issue Date.

Joint-life coverage can be elected on an individually-owned Contract or on a co-owned Contract. On an individually-owned Contract, joint-life coverage is available only if your spouse is the sole beneficiary on the Issue Date and remains the sole beneficiary while Income ON Demand is in effect. On a co-owned Contract, joint-life coverage is available only if you and your spouse are the only co-owners on the Issue Date and remain so while Income ON Demand is in effect. Whereas single-life coverage provides an Annual Income Amount only until any Participant dies, joint-life coverage provides an Annual Income Amount for as long as either you or your spouse is alive. Note that, for joint-life coverage to continue after the death of any Participant, the surviving spouse must elect to continue the contract through the “Spousal Continuance” provision. See also “Death of Participant Under Income ON Demand with Joint-Life Coverage” in this Appendix.

If you have elected joint-life coverage, the Income On Demand Coverage Date will be your Issue Date if the younger spouse is at least age 55 on the Issue Date, and will be the first Account Anniversary after the younger spouse attains

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(or would have attained) age 55 if the younger spouse is less than age 55 on the Issue Date. (For purposes of joint-life coverage, the younger spouse refers to the person who was the younger spouse on the Issue date, even if that person has died or is no longer married to the person who was his or her spouse on the Issue Date.) On the Income On Demand Coverage Date, your Annual Income Amount will be calculated and begin accumulating. If withdrawals of the Stored Income Balance are taken before the date the younger spouse attains (or would have attained) age 59¹⁄₂, the withdrawal will be considered an “early withdrawal,” and the Income Benefit Base will be reduced.

The two spouses on the Issue Date are the only two people covered under the joint-life feature. If a Participant remarries, the new spouse is not covered under the joint-life feature. Therefore, if the spouse on the Issue Date is no longer your spouse, the Income ON Demand benefits continue for your life and, when you die, annual withdrawals are no longer available. Note that, when you elect joint-life coverage, you also elect the higher joint-life fee. That fee will not change as long as Income ON Demand is in effect, regardless of any change in life events.

If one spouse is significantly younger than the other spouse, you should carefully consider whether joint-life coverage is an appropriate choice in light of the possibly long waiting period before the benefit begins to store income and in light of the higher fee for joint-life coverage.

Joint-life coverage may not be available on all Contracts.

Cancellation of Income ON Demand

Should you decide that Income ON Demand is no longer appropriate for you, you may cancel it at any time. Upon cancellation, all benefits and charges under Income ON Demand shall cease. Once cancelled, the Rider cannot be reinstated.

Although transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached, Income ON Demand will be cancelled automatically:

• if any Purchase Payment is allocated to an investment option other than a Designated Fund; or

• if any portion of Account Value maintained in a Designated Fund is transferred into an investment option other than a Designated Fund.

A change of ownership of the Contract may also cancel Income ON Demand.

Death of Participant Under Income ON Demand with Single-Life Coverage

If you selected single-life coverage, Income ON Demand terminates on the death of any Participant and the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract. Alternately, the Beneficiary may elect to receive the Stored Income Balance. If your surviving spouse is the sole Beneficiary and elects to continue the Contract, your spouse has the additional option of electing to participate in a new Income ON Demand Rider on the original Contract (assuming that at the time of such election, Income ON Demand is available to new Participants and your surviving spouse meets certain eligibility requirements). If the surviving spouse makes such election:

• the new Account Value will be the greater of the Stored Income Balance on the original Contract or the Death Benefit;

• the new Income ON Demand Fee will be set by us based on market conditions at the time and may be higher than the current Income ON Demand Fee;

• the new Income Benefit Base will be equal to the Account Value after any Death Benefit has been credited; and

• the new Stored Income Balance will be reset to zero.

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Death of Participant Under Income ON Demand with Joint-Life Coverage

If the surviving spouse on the Death Benefit Date was not the spouse of a Participant on the original Contract’s Issue Date, then this section does not apply, even if joint-life coverage was elected. In such case, if a Participant dies while participating in Income ON Demand, the provisions of the section in this Appendix titled “Death of Participant Under Income ON Demand with Single-Life Coverage” will apply.

If you purchased joint-life coverage and one of the Participants dies, Income ON Demand will continue, provided that the surviving spouse, as the sole beneficiary, continues the Contract. In such case:

• the new Account Value will be equal to the Death Benefit;

• the Stored Income Balance will remain unchanged;

• the Income Benefit Base will remain unchanged until the next Account Anniversary when a step-up could apply due to an increase in Account Value (see “Step-Up Under Income ON Demand” in this Appendix);

• on each Account Anniversary, the Annual Income Amount will be equal to the Income Benefit Base multiplied by 5%; and

• the Income ON Demand fee for the joint-life coverage option will continue for the surviving spouse as it was immediately prior to the death of the Participant.

At the death of the surviving spouse, the Contract, including Income ON Demand, terminates.

If you purchased joint life coverage and the deceased Participant’s surviving spouse does not continue the Contract, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Annuitization Under Income ON Demand

Under the terms of Income ON Demand, if your Account Value is greater than zero on your Maximum Annuity Commencement Date, you may elect to:

(1) surrender your Contract and receive your Cash Surrender Value (or your Stored Income Balance, if greater),

(2) annuitize your Account Value under one of the then currently available Annuity Options, or

(3) (a) receive any remaining Stored Income Balance in a single sum and (b) annuitize your remaining Account Value as a single-life annuity (or a joint-life annuity, if joint-life coverage was elected at issue and you are still eligible to receive it) with an annualized annuity payment of not less than 5% of your then current Income Benefit Base.

If you make no election, we will default your choice to option 3.

If your Account Value has been reduced to zero (other than as a result of an “early withdrawal” or an “excess withdrawal”), and your Income Benefit Base is greater than zero on or before your Maximum Annuity Commencement Date, you will receive your full Annual Income Amount each year until you die. For a more complete discussion of this, see “Depleting Your Account Value” in this Appendix.

Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as Income ON Demand. When you elect to participate in Income ON Demand, you may withdraw annual amounts up to the Yearly RMD Amount without affecting your benefits under Income ON Demand, subject to the conditions stated below. In the event that your Yearly RMD Amount attributable to your Contract is greater than your Stored Income Balance, we are currently waiving the withdrawal provisions under Income ON Demand as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in Income ON Demand, we reduce your Account Value and your Stored Income Balance, dollar for dollar, by the amount of the

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withdrawal to a value not less than zero. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than your Stored Income Balance. In other words, if a Yearly RMD Amount exceeds your Stored Income Balance, we will reduce your Stored Income Balance, but we will not reduce your Income Benefit Base, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

If there is any change to the current Code or IRS rules governing the timing or determination of RMD Amounts (including, but not limited to, amendments to the current IRS regulations or the issuance of IRS guidance), we reserve the right, in our sole discretion, to reduce your Stored Income Balance and your Income Benefit Base, or both of these amounts, per the terms of the Income ON Demand Rider regarding excess withdrawals (see “Withdrawals Under Income ON Demand”), when a Yearly RMD Amount withdrawn from your Contract exceeds your Stored Income Balance. Notice will be given to Contract Owners before we exercise this right.

For further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

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APPENDIX M - Income ON Demand^® II

The optional living benefit known as Income ON Demand II (“IOD II” or “the rider”) was available for Contracts purchased on or after October 20, 2008 and prior to February 17, 2009. The following information applies to your Contract if you elected to participate in IOD II. IOD II is no longer available for sale on new Contracts.

To describe how IOD II works, we use the following definitions:

Annual Income Amount:	The amount added to your Stored Income Balance on each Account Anniversary during your Stored Income Period. It is equal to 5% of your Income Benefit Base on the date of crediting.
Early Withdrawal:	Any withdrawal taken prior to your First Withdrawal Date.
Excess Withdrawal:	Any withdrawal taken after your First Withdrawal Date that exceeds your Stored Income Balance (or your Required Minimum Distribution Amount, if greater).
Fee Base:	The amount used to calculate your “IOD II Fee” (see “Cost of IOD II”).
First Withdrawal Date:	Your Issue Date if you are at least age 59 at issue, otherwise the first Account Anniversary after you attain age 59.
Income Benefit Base:	The amount used to calculate your Annual Income Amount for IOD II.
Stored Income Balance:	The amount you may withdraw at any time after your First Withdrawal Date without reducing your benefits under IOD II.
Stored Income Period:	A period beginning on your Issue Date if you are at least age 50 at issue, otherwise the first Account Anniversary following your 50th birthday, ending on your Annuity Commencement Date.
You and Your:	The terms “you” and “your” refer to the oldest living Participant or the surviving spouse of the oldest Participant, as described under “Death of Participant Under IOD II with Joint-Life Coverage.” In the case of a non-natural Participant, these terms refer to the oldest living Annuitant.

Upon annuitization, IOD II and any elected optional death benefit automatically terminate.

IOD II allows you to withdraw a guaranteed amount each year, beginning after your First Withdrawal Date, until the death of any Participant if single-life coverage is elected (or until the death of both the Participant and the Participant’s spouse if joint-life coverage is elected), regardless of the investment performance of the Designated Funds, provided that you comply with certain requirements. The amount you can withdraw, in any one year, is based on 5% of your Income Benefit Base. Any amount that you do not withdraw in a given Account Year will remain in the Stored Income Balance and can be withdrawn at any time in the future.

If you are participating in IOD II, you may make Purchase Payments only during your first Account Year. After the first Account Anniversary, any Purchase Payments you submit will be returned to you.

To participate in IOD II, all of your Account Value must be invested only in Designated Funds at all times during the term of IOD II. (The term of IOD II is for life, unless your Income Benefit Base is reduced to zero or your benefits under IOD II are terminated or cancelled as described in this Appendix under “Cancellation of IOD II,” “Depleting Your Account Value,” and “Annuitization Under IOD II.”) The only Funds, dollar-cost averaging program options, and asset allocation models that currently qualify as Designated Funds are shown in the section entitled “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

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You also have the option of choosing between single-life coverage and joint-life coverage. These options are described in greater detail in this Appendix under “Joint-Life Coverage” and the sections entitled “Death of Participant Under IOD II with Single-Life Coverage” and “Death of Participant Under IOD II with Joint-Life Coverage.”

Determining Your Income Benefit Base

On the Issue Date, we set your Income Benefit Base equal to your initial Purchase Payment. Thereafter, your Income Benefit Base is:

• increased on each Account Anniversary by any step-ups as described under “Step-Up Under IOD II” in this Appendix;

• increased to the extent that you exercise your one-time option to use any amount of your Stored Income Balance to increase your Income Benefit Base, as described under “How IOD II Works” in this Appendix;

• increased by any subsequent Purchase Payments you make during the first year following the Issue Date;

• decreased following any Early Withdrawals you take, as described under “Early Withdrawals” in this Appendix; and

• decreased following any Excess Withdrawals you take, as described under “Excess Withdrawals” in this Appendix.

Determining Your Stored Income Balance

At the beginning of the Stored Income Period, your Stored Income Balance will equal your Annual Income Amount (i.e., 5% of your Income Benefit Base on that Date). Thereafter, your Stored Income Balance is:

• increased by 5% of any subsequent Purchase Payments you make during the first year following the Issue Date;

• increased on each Account Anniversary by your Annual Income Amount determined on that Anniversary;

• decreased by the amount of any withdrawals you take, on or after your First Withdrawal Date, up to the amount of your Stored Income Balance;

• decreased to $0 if you take an Excess Withdrawal;

• decreased in proportion to the change in your Account Value if you take an Early Withdrawal; and

• decreased by the amount you use in exercising your one-time option to increase your Income Benefit Base (described under “How IOD II Works”).

How IOD II Works

Under the terms of IOD II, you can take withdrawals up to the amount of your Stored Income Balance beginning on your First Withdrawal Date, subject to the terms and conditions discussed below. You can use all or a portion of your Stored Income Balance to effect a one-time increase of your Income Benefit Base prior to your Annuity Commencement Date. If your Account Value is reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Income Benefit Base is greater than zero, you will receive your full Annual Income Amount every year until you die.

Withdrawals from your Stored Income Balance can be taken at any time beginning on your First Withdrawal Date and prior to your Annuity Commencement Date without affecting your Income Benefit Base. If, beginning on your First Withdrawal Date, you make a withdrawal that does not exceed your Stored Income Balance:

• your Stored Income Balance will be decreased by the amount withdrawn; and

• the withdrawal will not be subject to withdrawal charges.

You also have the option to use all or a portion of your Stored Income Balance to increase your Income Benefit Base. This option allows you to increase your future Annual Income Amount. While your Contract is in force, you may

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exercise this option only once and you must do so prior to your Annuity Commencement Date. If you choose to use any portion of your Stored Income Balance to increase your Income Benefit Base:

• your Stored Income Balance will be decreased by the amount used;

• the amount of your Stored Income Balance used will be added to your Income Benefit Base; and

• your new Annual Income Amount on your next Account Anniversary will equal 5% of your new Income Benefit Base.

Here is an example of how IOD II works:

Assume that you are age 60 when your Contract is issued with an initial Purchase Payment of $100,000. Assume you elect to participate in IOD II with single-life coverage and investment performance of the Designated Funds is constant over the years. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment on your Issue Date. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). Therefore, $5,000 will be added each year to your Stored Income Balance. All values shown are as of the beginning of the Account Year.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
1	$100,000	$100,000	$5,000	$0	$5,000
2	$100,000	$100,000	$5,000	$0	$10,000
3	$100,000	$100,000	$5,000	$0	$15,000
4	$100,000	$100,000	$5,000	$0	$20,000

During your fifth Account Year, you use the full amount of your Stored Income Balance ($25,000) to increase your Income Benefit Base. On your next Account Anniversary, your Income Benefit Base will be increased to $125,000 and your Annual Income Amount will be $6,250 (5% of your Income Benefit Base). Therefore $6,250 will be added each year to your Stored Income Balance unless your Annual Income Amount changes.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$100,000	$5,000	$0	$25,000
6	$100,000	$125,000	$6,250	$0	$6,250
7	$100,000	$125,000	$6,250	$0	$12,500
8	$100,000	$125,000	$6,250	$0	$18,750

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Assume instead that, during your fifth Account Year, you take a withdrawal of $25,000, thereby reducing your Stored Income Balance to $0. On your next Account Anniversary your Income Benefit Base will remain at $100,000 and your Annual Income Amount remains at $5,000 (5% of your Income Benefit Base). Therefore $5,000 will be added each year to your Stored Income Balance unless your Annual Income Amount changes.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$100,000	$5,000	$25,000	$0
6	$75,000	$100,000	$5,000	$0	$5,000
7	$75,000	$100,000	$5,000	$0	$10,000
8	$75,000	$100,000	$5,000	$0	$15,000

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

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Early Withdrawals and Excess Withdrawals may significantly decrease, and even terminate, your benefits under IOD II, including reducing your Account Value to zero and thereby terminating your Contract without value, as described further in this Appendix under “Withdrawals Under IOD II.” Even if your Stored Income Period has begun, withdrawals prior to your First Withdrawal Date are considered Early Withdrawals. Investing in any Fund, other than a Designated Fund, will cancel IOD II as described under “Cancellation of IOD II” in this Appendix.

Withdrawals Under IOD II

Withdrawals After Your First Withdrawal Date

Starting on your First Withdrawal Date and continuing to your Annuity Commencement Date you may take annual withdrawals up to your Stored Income Balance without reducing your future Annual Income Amount. These withdrawals will reduce your Stored Income Balance by the full amount of the withdrawal, but will not change your Income Benefit Base. This is shown in the example above.

Withdrawals taken after your First Withdrawal Date and during the withdrawal charge period permitted under your Contract are subject to withdrawal charges only to the extent they are in excess of the greatest of:

• the free withdrawal amount permitted under your Contract;

• your Stored Income Balance; or

• your Yearly Required Minimum Distribution Amount (subject to conditions discussed in this Appendix under “Certain Tax Provisions”).

Excess Withdrawals

If you take an Excess Withdrawal, your Income Benefit Base will be reduced according to the following formula:

Your new Income Benefit Base	=	IBB x	(	AV - WD	)
				AV - SB

Where:
	IBB	=	Your Income Benefit Base immediately prior to the Excess Withdrawal.
	WD	=	The amount of the Excess Withdrawal.
	SB	=	Your Stored Income Balance (or your Required Minimum Distribution Amount, if greater) immediately prior to the Excess Withdrawal.
	AV	=	Your Account Value immediately prior to the Excess Withdrawal.

Your Annual Income Amount will be recalculated based on the reduced Income Benefit Base. Here is an example of an Excess Withdrawal.

Using the same facts as the previous example, assume that in your fifth Account Year you take a withdrawal of $50,000, exceeding your Stored Income Balance. Assume that, due to poor investment performance during the fifth Account Year, your Account Value was $90,000 immediately prior to the withdrawal. Your Income Benefit Base will be reduced to $61,538 as shown below.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$100,000	$5,000	$50,000	$0
6	$40,000	$61,538	$3,077	$0	$3,077
7	$40,000	$61,538	$3,077	$0	$6,154
8	$40,000	$61,538	$3,077	$0	$9,231

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

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Your new Income Benefit Base	=	$	100,000 x	(	$90,000 -  $50,000	)	=	$	61,538
					$90,000 - $25,000

Excess Withdrawals taken in a down market could severely reduce, and even terminate, your benefits under IOD II, including reducing your Account Value to zero and thereby terminating your Contract without value.

Early Withdrawals

All withdrawals taken before your First Withdrawal Date, including any “free withdrawal amounts” permitted under your Contract, will be considered Early Withdrawals and the Income Benefit Base and the Stored Income Balance will be reduced using the following formulas:

Your new Income Benefit Base	=	IBB x	(	AV - WD	)
				AV

Your new Stored Income Balance	=	SB x	(	AV - WD	)
				AV

Where:
	IBB	=	Your Income Benefit Base immediately prior to the Early Withdrawal.
	SB	=	Your Stored Income Balance immediately prior to the Early Withdrawal.
	WD	=	The amount of the Early Withdrawal.
	AV	=	Your Account Value immediately prior to the Early Withdrawal.

Your future Annual Income Amount will be recalculated based on the reduced Income Benefit Base.

In addition, Early Withdrawals will also be subject to withdrawal charges, to the extent that such withdrawals are in excess of the “free withdrawal amount” permitted under your Contract. Early Withdrawals could severely reduce, and even terminate, your benefits under IOD II, including reducing your Account Value to zero and thereby terminating your Contract without value.

In addition to reducing your benefits under IOD II, any withdrawal before age 59¹⁄₂ could have adverse state and federal tax liabilities. You should consult a qualified tax professional for more information.

Depleting Your Account Value

If your Account Value is reduced to zero immediately following an Early Withdrawal or an Excess Withdrawal (as described above), then your Stored Income Balance and your Income Benefit Base will both be reduced to zero and your Contract will terminate without value. Therefore, your Contract, as well as any benefits available with IOD II will end.

If your Account Value is reduced to zero through any combination of poor investment performance of the Designated Funds, Contract charges, and withdrawals other than Excess Withdrawals or Early Withdrawals, your Income Benefit Base will not be reduced. Your Contract will end. You will be entitled to receive annual payments equal to 5% of the amount of your Income Benefit Base. Prior to determining your annual payments, you may increase your Income Benefit Base by any remaining Stored Income Balance as described below. These payments will continue for as long as you live. If you elected joint-life coverage, the payments will continue as long as either you or your spouse are alive as described in this Appendix under “Death of Participant Under IOD II with Joint-Life Coverage.” If you have any remaining Stored Income Balance on the day your Account Value is reduced to zero, you will be notified that, before you begin to receive your “annual lifetime payments,” you must deplete your Stored Income Balance by:

(a) withdrawing your remaining Stored Income Balance;

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(b) applying the remaining amount of your Stored Income Balance to increase your Income Benefit Base (and thus the amount of your “annual lifetime payments”); or

(c) using a combination of (a) and (b).

Because the Contract has ended, the amount of these annual lifetime payments will not change and they will not be subject to any withdrawal charges. You should be aware, however, that they could be subject to state and federal income tax liability. You should consult a qualified tax professional for more information.

Cost of IOD II

If you elected IOD II, we will deduct a quarterly fee from your Account Value (“IOD II Fee”). The IOD II Fee will be taken as a specific deduction from your Account Value on the last valuation day of each Account Quarter and will equal 0.1625 % of your Fee Base on that day, if you elected single-life coverage (0.2125% for joint-life coverage). On an annual basis, the IOD II Fee is equal to 0.65% of your Fee Base if you elected single-life coverage (0.85% for joint-life coverage). We reserve the right to increase the percentage rate used to calculate the IOD II Fee on newly issued Contracts.

During the first Account Year, your Fee Base is equal to your Income Benefit Base. On each Account Anniversary, the Fee Base is recalculated. Your new Fee Base will be reset to equal your Income Benefit Base plus your Stored Income Balance (if any) less your Annual Income Amount for that year if this recalculated amount is higher than your current Fee Base. In the event that the recalculated amount is not greater than your current Fee Base, we will continue to calculate your IOD II Fee based upon your current Fee Base until, at least, your next Account Anniversary. Note that, although your IOD II Fee may increase, it will never decrease.

For the most part, we calculate your Fee Base only on your Account Anniversary. However, we will recalculate your Fee Base between Account Anniversaries, if you take an Early Withdrawal or Excess Withdrawal or make additional Purchase Payments during your first Account Year.

If you take an Excess Withdrawal during your Stored Income Period, your Fee Base will be decreased by the following formula:

Your new Fee Base	=	Fee Base x	(	AV - WD	)
				AV - SB

If you take an Early Withdrawal, your Fee Base will be decreased by the following formula:

Your new Fee Base	=	Fee Base x	(	AV - WD	)
				AV

Where:
	Fee Base	=	Your Fee Base immediately prior to the Early/Excess Withdrawal.
	WD	=	The amount of the Early/Excess Withdrawal.
	SB	=	Your Stored Income Balance (if any) immediately prior to the Excess Withdrawal.
	AV	=	Your Account Value immediately prior to the Early/Excess Withdrawal.

Any additional Purchase Payment you make during your first Account Year will increase your Income Benefit Base as described in this Appendix under “Determining Your Income Benefit Base.” Therefore, your Fee Base will increase by any additional Purchase Payments made.

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Here is an example of how we calculate your Fee Base:

Assume that you are age 60 when your Contract is issued with an initial Purchase Payment of $100,000. Assume you elected to participate in IOD II with single-life coverage and investment performance of the Designated Funds is constant over the years. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment on your Issue Date. At issue, your Annual Income Amount is $5,000 (5% of your Income Benefit Base). All values are shown as of the beginning of the Account Year unless otherwise stated.

During the Stored Income Period, the Fee Base is reset at the beginning of the Contract Year to equal your Income Benefit Base plus your Stored Income Balance less your Annual Income Amount, if that amount is greater than the previous Fee Base. For example, in Contract Year 4, the Fee Base is set equal to the Income Benefit Base ($100,000) plus the Stored Income Balance ($20,000) less your Annual Income Amount ($5,000) if that amount ($115,000) is greater than the previous Fee Base ($110,000).

Year	Income Benefit Base		Annual Income Amount		Stored Income Balance				Fee Base
					Beginning of year	Withdrawal Amount		End of year
1	$	100,000	$	5,000	$5,000	$	0	$5,000	$	100,000
2	$	100,000	$	5,000	$10,000	$	0	$10,000	$	105,000
3	$	100,000	$	5,000	$15,000	$	0	$15,000	$	110,000
4	$	100,000	$	5,000	$20,000	$	0	$20,000	$	115,000

Assume, instead, that in your fourth Account Year you take a $20,000 withdrawal. At the beginning of your fifth Account Year, your Income Benefit Base ($100,000) plus your Stored Income Balance ($5,000) less your Annual Income Amount ($5,000) is less than the current Fee Base ($115,000), so there is no change to the Fee Base, as shown below.

Year	Income Benefit Base		Annual Income Amount		Stored Income Balance				Fee Base
					Beginning of year	Withdrawal Amount		End of year
4	$	100,000	$	5,000	$20,000	$	20,000	$0	$	115,000
5	$	100,000	$	5,000	$5,000		$0	$5,000	$	115,000
6	$	100,000	$	5,000	$10,000		$0	$10,000	$	115,000
7	$	100,000	$	5,000	$15,000		$0	$15,000	$	115,000
8	$	100,000	$	5,000	$20,000		$0	$20,000	$	115,000
9	$	100,000	$	5,000	$25,000		$0	$25,000	$	120,000

On each Account Anniversary thereafter, your Fee Base is recalculated and reset if necessary.

Your IOD II Fee will not change during an Account Year, unless you take one of the following specific actions:

• If you make an additional Purchase Payment during your first Account Year, you will increase your Fee Base and thus your IOD II Fee.

• If you make an Early Withdrawal or an Excess Withdrawal, you will decrease your Fee Base and thus your IOD II Fee.

In addition, on your Account Anniversary, the IOD II Fee may also change if we increase the percentage used to calculate the IOD II Fee as described below under “Step-Up Under IOD II.”

The investment performance of the Designated Funds will not affect your IOD II Fee during an Account Year. However, as stated below under “Step-Up Under IOD II,” favorable investment performance may cause the Income Benefit Base to increase on an Account Anniversary, and thus increase your IOD II Fee.

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We will continue to deduct the IOD II Fee until you annuitize your Contract, your Account Value reduces to zero, or your benefits under IOD II are cancelled as described under “Cancellation of IOD II” in this Appendix.

Step-Up Under IOD II

Regardless of your age on the Issue Date, on each Account Anniversary prior to your Annuity Commencement Date, we will automatically step-up your Income Benefit Base, provided that you satisfy certain requirements. First, you must meet eligibility requirements:

• Your Account Value less your Stored Income Balance must equal no more than $5,000,000. (For purposes of determining the $5,000,000 limit, we reserve the right, in our sole discretion, to aggregate your Account Value with the account values of all other variable annuity contracts you own issued by Delaware Life or its affiliates.)

• Your highest quarter-end Account Value (adjusted for subsequent purchase payments and withdrawals) during the most recent Account Year (“Highest Quarterly Value”) minus your Stored Income Balance must be greater than your current Income Benefit Base. (If you have not yet reached your Stored Income Period and therefore do not yet have a Stored Income Balance, your highest quarter-end Account Value must only be greater than your current Income Benefit Base.)

Second, if you satisfy the eligibility requirements, we then consider whether market conditions have caused us to increase the percentage rate used to calculate the IOD II Fee on newly issued Contracts. If we are no longer issuing Contracts with IOD II, then the percentage rate we use to calculate your IOD II Fee will be set based upon current market conditions at that time. Significant changes in stock market prices, interest rate fluctuations, and competitive industry trends are among the market conditions we consider in whether to change the fee.

• If we have not had to increase the percentage rate as described above, the percentage rate we use to calculate your IOD II Fee will remain unchanged and we will automatically step-up your Income Benefit Base.

• If we have had to increase the percentage rate as described above, we offer you the opportunity to step-up at the higher percentage rate. In this case, your written consent is required to accept the higher percentage rate used to calculate your IOD II Fee and step-up your Income Benefit Base. If you do not consent to the step-up and higher percentage, the step-up will not be implemented and all subsequent step-ups of your Income Benefit Base will also be suspended. You may thereafter submit an election form to us, however, in order to consent to the then-applicable percentage rate and thus reactivate subsequent automatic step-ups.

At the time of step-up, we will increase your Income Benefit Base to an amount equal to the highest adjusted quarterly Account Value less your Stored Income Balance, if such amount exceeds your current Income Benefit Base. After the step-up, your Annual Income Amount will be 5% of your new Income Benefit Base.

Here are examples of how step-up works under a few different circumstances:

Assume that you are 60 years old when you purchase a Contract with an initial Purchase Payment of $100,000, and that you elect to participate in IOD II with single-life coverage. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). Your initial Stored Income Balance is $5,000.

In each of the four examples, Account Values shown are as of the last day of each Account Quarter. Adjustments are made on the day a Purchase Payment or withdrawal is made.

The Account Values on each of your four Account Quarters are $113,000, $108,000, $90,000, and $103,000, respectively. No additional Purchase Payments are made and no withdrawals are taken, so no adjustments to these values are necessary. Your Stored Income Balance at the end of the fourth Account Quarter is $5,000. The highest adjusted quarterly value is $113,000. Your new Income Benefit Base is set to equal $108,000 ($113,000 - $5,000) since that amount exceeds your previous Income Benefit Base.

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Time	Account Value		Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$	100,000		n/a		n/a	$	100,000
End of First Quarter	$	113,000		n/a		$113,000	$	100,000
End of Second Quarter	$	108,000		n/a		$108,000	$	100,000
End of Third Quarter	$	90,000		n/a		$90,000	$	100,000
End of Fourth Quarter (before step-up)	$	103,000		n/a		$103,000	$	100,000
Highest Quarterly Value (after adjustments)					$	113,000
Stored Income Balance at end of fourth quarter				$5,000

Step-up comparison	Is ($113,000 - $5,000) greater than $100,000? Yes, so step-up.
On the Account Anniversary (after step-up):
New Income Benefit Base =	$108,000	Highest Quarterly Value (after adjustments) less the Stored Income Balance.
New Annual Income Amount =	$5,400	$108,000 x 5%
New Stored Income Balance =	$10,400	Stored Income Balance at the end of the fourth Account Quarter plus the new Annual Income Amount.

Please note: The end of the fourth Account Quarter and the Account Anniversary are the same day. We only make the distinction to separate values before and after step-up.

If you make an additional Purchase Payment during your first Account Year, your Account Value and your Income Benefit Base are each immediately increased by the amount of the additional Purchase Payment. Your Stored Income Balance is increased by 5% of the additional Purchase Payment.

Here is an example of how an additional Purchase Payment of $50,000 made in the second Account Quarter would affect your step-up:

Time	Account Value		Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$	100,000		n/a		n/a	$	100,000
End of First Quarter	$	113,000		$50,000		$163,000	$	100,000
$50,000 Purchase Payment	$	163,000		n/a		n/a	$	150,000
End of Second Quarter	$	158,000		n/a		$158,000	$	150,000
End of Third Quarter	$	140,000		n/a		$140,000	$	150,000
End of Fourth Quarter (before step-up)	$	153,000		n/a		$153,000	$	150,000
Highest Quarterly Value (after adjustments)					$	163,000
Stored Income Balance at end of fourth quarter				$7,500 (initial $5,000 plus 5% x $50,000)

Step-up comparison	Is ($163,000 - $7,500) greater than $150,000? Yes, so step-up.
On the Account Anniversary (after step-up):
New Income Benefit Base =	$155,500	Highest Quarterly Value (after adjustments) less the Stored Income Balance.
New Annual Income Amount =	$7,775	$155,500 x 5%
New Stored Income Balance =	$15,275	Stored Income Balance at the end of the fourth Account Quarter plus the new Annual Income Amount.

Please note: Since the additional Purchase Payment occurred after the first Account Quarter, the first Account Quarter value was adjusted.

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Here is an example of how a $4,000 withdrawal taken in the second Account Quarter would affect your step-up:

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		- $4,000		$109,000		$100,000
$4,000 withdrawal	$109,000		n/a		n/a		$100,000
End of Second Quarter	$104,000		n/a		$104,000		$100,000
End of Third Quarter	$86,000		n/a		$86,000		$100,000
End of Fourth Quarter (before step-up)	$99,000		n/a		$99,000		$100,000
Highest Quarterly Value (after adjustments)				$	109,000
Stored Income Balance at end of fourth quarter			$1,000 (initial $5,000 less $4,000 withdrawal)

Step-up comparison	Is ($109,000 - $1,000) greater than $100,000? Yes, so step-up.
On the Account Anniversary (after step-up):
New Income Benefit Base =	$108,000	Highest Quarterly Value (after adjustments) less the Stored Income Balance.
New Annual Income Amount =	$5,400	$108,000 x 5%
New Stored Income Balance =	$6,400	Stored Income Balance at the end of the fourth Account Quarter plus the new Annual Income Amount.

Please note: Since the withdrawal occurred after the first Account Quarter, the first Account Quarter value was adjusted.

Assume instead you take a $40,000 withdrawal in the second Account Quarter at a point when the Account Value equaled $99,000 immediately before the withdrawal. Since this withdrawal exceeds your Stored Income Balance, it is considered an Excess Withdrawal. The Excess Withdrawal reduces your Income Benefit Base as described in this Appendix under “Excess Withdrawals.” All previous quarter-end Account Values are first reduced by the amount of the Stored Income Balance and then adjusted in the same proportion that the Income Benefit Base was adjusted after the Excess Withdrawal. (See the two-step calculation shown in the box below the following example.)

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		- $45,213		$67,787		$100,000
$40,000 withdrawal	$59,000		n/a		n/a		$62,766
End of Second Quarter	$68,000		n/a		$68,000		$62,766
End of Third Quarter	$50,000		n/a		$50,000		$62,766
End of Fourth Quarter (before step-up)	$63,000		n/a		$63,000		$62,766
Highest Quarterly Value (after adjustments)				$	68,000
Stored Income Balance at end of fourth quarter			$0

Step-up comparison	Is ($68,000 - $0) greater than $62,766? Yes, so step-up.
On the Account Anniversary (after step-up)
New Income Benefit Base =	$68,000	Highest Quarterly Value (after adjustments) less the Stored Income Balance.
New Annual Income Amount =	$3,400	$68,000 x 5%
New Stored Income Balance =	$3,400	Stored Income Balance at the end of the fourth Account Quarter plus the new Annual Income Amount.

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(1)   Reduce the end of First Quarter Account Value by the Stored Income Balance	=	$113,000	-	$5,000		=	$108,000
(2)   Adjust Account Value for the first Account Quarter	=	$108,000 x	(	$99,000 - $40,000          $99,000 - $5,000	)	=	$67,787
The total adjustment	=	$113,000	-	$67,787		=	$45,213

Joint-Life Coverage

On the Issue Date, you have the option of electing IOD II with single-life coverage or, for a higher IOD II Fee, with joint-life coverage. Once you make the election, you cannot switch between joint-life and single-life coverage, regardless of any change in life events. Joint-life coverage is not available if you are unmarried on the Issue Date.

Joint-life coverage can be elected on an individually-owned Contract or on a co-owned Contract. On an individually-owned Contract, joint-life coverage is available only if your spouse is the sole primary beneficiary on the Issue Date and remains the sole primary beneficiary while IOD II is in effect. On a co-owned Contract, joint-life coverage is available only if you and your spouse are the only co-owners on the Issue Date and remain so while IOD II is in effect. Whereas single-life coverage provides an Annual Income Amount only until any Participant dies, joint-life coverage provides an Annual Income Amount for as long as either you or your spouse is alive. Note that, for joint-life coverage to continue after the death of any Participant, the surviving spouse must elect to continue the contract through the “Spousal Continuance” provision. See also “Death of Participant Under IOD II with Joint-Life Coverage” in this Appendix.

If you have elected joint-life coverage, the Stored Income Period will begin on your Issue Date if the younger spouse is at least age 50 on the Issue Date. Otherwise it will begin on the first Account Anniversary after the younger spouse attains (or would have attained) age 50. (For purposes of joint-life coverage, the younger spouse refers to the person who was the younger spouse on the Issue Date, even if that person has died or is no longer married to the person who was his or her spouse on the Issue Date.) The First Withdrawal Date will be your Issue Date if the younger spouse is at least age 59 at issue. Otherwise it will be the first Account Anniversary after the younger spouse attains (or would have attained) age 59.

The two spouses on the Issue Date are the only two people covered under the joint-life feature. If a Participant remarries, the new spouse is not covered under the joint-life feature. Therefore, if the spouse on the Issue Date is no longer your spouse, your benefits under IOD II continue for your life and, when you die, annual withdrawals are no longer available. Note that, when you elect joint-life coverage, you also elect the higher joint-life fee. The percentage rate of the fee will not be reduced regardless of any change in life events.

If one spouse is significantly younger than the other spouse, you should carefully consider whether joint-life coverage is an appropriate choice in light of the possibly long waiting period before the benefit begins to store income and in light of the higher fee for joint-life coverage.

Joint-life coverage may not be available on all Contracts.

Cancellation of IOD II

Should you decide that IOD II is no longer appropriate for you, you may cancel IOD II at any time. Upon cancellation, all benefits and charges under IOD II shall cease. Once cancelled, IOD II cannot be reinstated.

Although transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached, IOD II will be cancelled automatically:

• if any Purchase Payment is allocated to an investment option other than a Designated Fund; or

• if any portion of Account Value maintained in a Designated Fund is transferred into an investment option other than a Designated Fund.

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IOD II will also be cancelled for any of the following:

• upon a termination of the Contract;

• upon annuitization*; or

• your Income Benefit Base is reduced to zero as a result of Early or Excess Withdrawals.

* Note that the Maximum Annuity Commencement Date permitted under this Contract is the first day of the month following the Annuitant’s 95^th birthday. See “Selection of Annuity Commencement Date” in the prospectus to which this Appendix is attached.

A change of ownership may also cancel your benefits under IOD II.

Death of Participant Under IOD II with Single-Life Coverage

If you elected single-life coverage, IOD II terminates on the death of any Participant and the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract. Alternately, the Beneficiary may elect to receive the Stored Income Balance.

Death of Participant Under IOD II with Joint-Life Coverage

If the surviving spouse on the Death Benefit Date was not the spouse of a Participant on the original Contract’s Issue Date, then this section does not apply, even if joint-life coverage was elected. In such case, if a Participant dies while participating in IOD II, the provisions of the section titled “Death of Participant Under IOD II with Single-Life Coverage” will apply.

If you purchased joint-life coverage and one of the Participants dies, IOD II will continue, provided that the surviving spouse, as the sole primary beneficiary, continues the Contract. In such case:

• the new Account Value will be equal to the Death Benefit;

• the Stored Income Balance will remain unchanged;

• the Income Benefit Base will remain unchanged until the next Account Anniversary when a step-up could apply due to an increase in the Account Value (see “Step-Up Under IOD II”);

• on each Account Anniversary, the Annual Income Amount will be equal to the Income Benefit Base multiplied by 5%; and

• the percentage rate of the IOD II Fee for the joint-life coverage option will continue for the surviving spouse as it was immediately prior to the death of the Participant.

At the death of the surviving spouse, the Contract, including IOD II, terminates.

If you purchased joint-life coverage and the deceased Participant’s surviving spouse does not continue the Contract, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Annuitization Under IOD II

Under the terms of IOD II, if your Account Value is greater than zero on your Maximum Annuity Commencement Date, you may elect to:

(1) surrender your Contract and receive your Cash Surrender Value (or your Stored Income Balance, if greater);

(2) annuitize your Account Value under one of the Annuity Options available on that date; or

(3) (a) receive any remaining Stored Income Balance in a single sum and (b) annuitize your remaining Account Value as a single-life annuity (or a joint-life annuity, if joint-life coverage was elected at issue and you are still eligible to receive it) with an annualized annuity payment of not less than 5% of your then current Income Benefit Base.

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If you make no election, we will default your choice to option 3.

If your Account Value has been reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Income Benefit Base is greater than zero on or before your Maximum Annuity Commencement Date, you will receive your full Annual Income Amount each year until you die. For a more complete discussion of this, see “Depleting Your Account Value” in this Appendix.

Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as IOD II. When you elect to participate in IOD II, you may withdraw annual amounts up to the Yearly RMD Amount without affecting your benefit, subject to the conditions stated below. In the event that your Yearly RMD Amount attributable to your Contract is greater than your Stored Income Balance, we are currently waiving the withdrawal provisions under IOD II as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in IOD II, we reduce your Account Value and your Stored Income Balance, dollar for dollar, by the amount of the withdrawal to a value not less than zero. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than your Stored Income Balance. In other words, if a Yearly RMD Amount exceeds your Stored Income Balance, we will reduce your Stored Income Balance, but we will not reduce your Income Benefit Base, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

Currently, any withdrawal in excess of the Annual Income Amount or Stored Income Balance that is taken to satisfy the Yearly RMD Amounts will not be treated as an Excess Withdrawal, and will not reduce the Income Benefit Base. However, if there is any material change to the current Code or IRS Rules governing the timing or determination of required minimum distribution amounts, then the Company reserves the right to treat any withdrawal greater than the Annual Income Amount or Stored Income Balance as an Excess Withdrawal which may significantly reduce the Income Benefit Base.

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

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APPENDIX N - Income ON Demand^® II Plus

The optional living benefit known as Income ON Demand II Plus (“IOD II Plus” or “the rider”) was available for Contracts purchased on or after October 20, 2008 and prior to February 17, 2009. The following information applies to your Contract if you elected to participate in IOD II Plus. IOD II Plus is no longer available for sale on new Contracts.

Income ON Demand II Plus provides an annual income guarantee for life. In early years, you can increase your guarantee if you defer withdrawals. In later years, you can store the annual guarantee amounts not withdrawn. To describe how IOD II Plus works, we use the following definitions:

Annual Income Amount:	An amount equal to your current Income Benefit Base multiplied by 5%, calculated on each Account Anniversary.
Early Withdrawal:	Any withdrawal taken prior to your First Withdrawal Date.
Excess Withdrawal:	Any withdrawal taken after your First Withdrawal Date that (a) when added to all prior withdrawals taken in that Account Year, exceeds the Annual Income Amount (or your Required Minimum Distribution Amount, if greater) while in the IOD II Plus Bonus Period or (b) exceeds your Stored Income Balance (or your Required Minimum Distribution Amount, if greater) while in the Stored Income Period.
Fee Base:	The amount used to calculate your “IOD II Plus Fee” (see “Cost of IOD II Plus”).
First Withdrawal Date:	Your Issue Date if you are at least age 59 at issue, otherwise the first Account Anniversary after you attain age 59.
Income Benefit Base:	The amount used to calculate your Annual Income Amount for IOD II Plus.
IOD II Plus Bonus Base:	The amount on which bonuses are calculated. The IOD II Plus Bonus Base is equal to the sum of your Purchase Payments, increased by any “step-ups” (described below) and reduced for any Early Withdrawals or any Excess Withdrawals.
IOD II Plus Bonus Period:	A ten-year period commencing on the Issue Date. If you “step-up” IOD II Plus, (described below) during the IOD II Plus Bonus Period, the IOD II Plus Bonus Period is extended to ten years from the date of the step-up.
Stored Income Balance:	The amount you may withdraw at any time during your Stored Income Period and after your First Withdrawal Date without reducing your benefits under IOD II Plus.
Stored Income Period:	A period beginning on the latest of your first Account Anniversary, the end of your IOD II Plus Bonus Period, or the first Account Anniversary following your 50th birthday, and ending on your Annuity Commencement Date.
You and Your:	The terms “you” and “your” refer to the oldest living Participant or the surviving spouse of the oldest Participant, as described under “Death of Participant Under IOD II Plus with Joint-Life Coverage.” In the case of a non-natural Participant, these terms refer to the oldest living Annuitant.

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Upon annuitization, IOD II Plus and any elected optional death benefit automatically terminate.

IOD II Plus allows you to withdraw a guaranteed amount each year, beginning after your First Withdrawal Date, until the death of any Participant if single-life coverage is elected (or until the death of both the Participant and the Participant’s spouse if joint-life coverage is elected), regardless of the investment performance of the Designated Funds, provided that you comply with certain requirements. The amount you can withdraw, in any one year, is based on 5% of your Income Benefit Base. If you make no withdrawals (including Required Minimum Distribution Amounts) in an Account Year during your IOD II Plus Bonus Period, we will increase your Income Benefit Base by an amount equal to 7% of your IOD II Plus Bonus Base.

You may choose to end the current Bonus Period at any time as long as you are at least age 50. The Stored Income Period will begin on the first Account Anniversary following your election. You can elect to end the Bonus Period by notifying us by written request, mailed to our Service Address.

After your IOD II Plus Bonus Period ends and your Stored Income Period begins, we will not increase your Income Benefit Base by an amount equal to 7% of your IOD II Plus Bonus Base. Instead, your Annual Income Amount will be added each year to your Stored Income Balance.

If you are participating in IOD II Plus, you may make Purchase Payments only during your first Account Year. After the first Account Anniversary, any Purchase Payments you submit will be returned to you.

To participate in IOD II Plus, all of your Account Value must be invested only in Designated Funds at all times during the term of IOD II Plus. (The term of IOD II Plus is for life, unless your Income Benefit Base is reduced to zero or your benefits under IOD II Plus are terminated or cancelled as described in this Appendix under “Cancellation of IOD II Plus,” “Depleting Your Account Value,” and “Annuitization Under IOD II Plus.”) The only Funds, dollar-cost averaging program options, and asset allocation models that currently qualify as Designated Funds are as shown in the section entitled “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

You also have the option of choosing between single-life coverage and joint-life coverage. These options are described in greater detail in this Appendix under “Joint-Life Coverage” and the sections entitled “Death of Participant Under IOD II Plus with Single-Life Coverage” and “Death of Participant Under IOD II Plus with Joint-Life Coverage.”

Determining Your Income Benefit Base

On the Issue Date, we set your Income Benefit Base equal to your initial Purchase Payment. Thereafter, your Income Benefit Base is:

• increased on each Account Anniversary by any applicable bonus amount during the IOD II Plus Bonus Period;

• increased on each Account Anniversary by any step-ups as described under “Step-Up Under IOD II Plus” in this Appendix;

• increased to the extent that you exercise your one-time option to use any amount of your Stored Income Balance to increase your Income Benefit Base, as described under “How IOD II Plus Works” in this Appendix;

• increased by any subsequent Purchase Payments you make during the first year following the Issue Date;

• decreased following any Early Withdrawals you take, as described under “Early Withdrawals” in this Appendix; and

• decreased following any Excess Withdrawals you take, as described under “Excess Withdrawals” in this Appendix.

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Determining Your Stored Income Balance

At the beginning of the Stored Income Period, your Stored Income Balance will equal your Annual Income Amount (i.e., 5% of your Income Benefit Base on that Date). Thereafter, your Stored Income Balance is:

• increased on each Account Anniversary by your Annual Income Amount determined on that Anniversary;

• decreased by the amount of any withdrawals you take, on or after your First Withdrawal Date, up to the amount of your Stored Income Balance;

• decreased to $0 if you take an Excess Withdrawal;

• decreased in proportion to the change in your Account Value if you take an Early Withdrawal; and

• decreased by the amount you use in exercising your one-time option to increase your Income Benefit Base (described below under “How IOD II Plus Works”).

How IOD II Plus Works

During the IOD II Plus Bonus Period

During the IOD II Plus Bonus Period, in each year that you do not take a withdrawal, your Income Benefit Base will be increased by an amount equal to 7% of your IOD II Plus Bonus Base. However, if this amount is less than the amount you will receive under a step-up, the Income Benefit Base will instead be increased by the step-up amount, unless there is a fee increase as described under “Step-Up Under IOD II Plus.” In the case of a fee increase, we will notify you in writing, in advance of your Contract Anniversary, and seek your written consent to the step-up and fee increase. If you do take a withdrawal, you are still eligible for step-up. (See “Step-Up under IOD II Plus” in this Appendix.) In this way, if you defer taking withdrawals during your early Account Years, you will be able to take larger withdrawals in later Account Years. Your Annual Income Amount, during this period, is not cumulative. Any unused portion of your Annual Income Amount in any Account Year, during the IOD II Plus Bonus Period cannot be applied to a future year.

During each Account Year, beginning on your First Withdrawal Date, you can take withdrawals totaling up to the amount of your Annual Income Amount, subject to the terms and conditions discussed below. Even if your Account Value is reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), as long as your Income Benefit Base is greater than zero, you will receive your full Annual Income Amount every year until you die.

During the Stored Income Period

During the Stored Income Period on each Account Anniversary, your Annual Income Amount is added to your Stored Income Balance. You can take withdrawals up to the amount of your Stored Income Balance beginning on your First Withdrawal Date, subject to the terms and conditions discussed below. You can use all or a portion of your Stored Income Balance to effect a one-time increase of your Income Benefit Base prior to your Annuity Commencement Date. If your Account Value is reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Income Benefit Base is greater than zero, you will receive your full Annual Income Amount every year until you die.

Withdrawals from your Stored Income Balance can be taken at any time beginning on your First Withdrawal Date and prior to your Annuity Commencement Date without affecting your Income Benefit Base. If, beginning on your First Withdrawal Date, you make a withdrawal that does not exceed your Stored Income Balance:

• your Stored Income Balance will be decreased by the amount withdrawn; and

• the withdrawal will not be subject to withdrawal charges.

You also have the option to use all or a portion of your Stored Income Balance to increase your Income Benefit Base. This option allows you to increase your future Annual Income Amount. While your Contract is in force, you may exercise this option only once and you must do so prior to your Annuity Commencement Date. If you choose to use any portion of your Stored Income Balance to increase your Income Benefit Base:

• your Stored Income Balance will be decreased by the amount used;

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• the amount of your Stored Income Balance used will be added to your Income Benefit Base; and

• your new Annual Income Amount on your next Account Anniversary will equal 5% of your new Income Benefit Base.

Here is an example of how IOD II Plus works:

Assume that you are age 60 when your Contract is issued with an initial Purchase Payment of $100,000. Assume you elect to participate in IOD II Plus with single-life coverage and investment performance of the Designated Funds is constant over the years. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment on your Issue Date. You decide to remain in the IOD II Plus Bonus Period for two years. The IOD II Plus Bonus Base is $100,000 for year one and year two. The bonus amount is 7% of the IOD II Plus Bonus Base. You wait until your third Account Year before you begin your Stored Income Period. At issue, your Annual Income Amount is $5,000 (5% of your Income Benefit Base). All values are shown as of the beginning of the Account Year, except for the bonus which occurs at the end of the Account Year.

Year	Account Value	Income Benefit Base	Annual Income Amount	Bonus Amount	Stored Income Balance
1	$100,000	$100,000	$5,000	$7,000	$0
2	$100,000	$107,000	$5,350	$7,000	$0
3	$100,000	$114,000	$5,700	n/a	$5,700
4	$100,000	$114,000	$5,700	n/a	$11,400

During your fifth Account Year, you use the full amount of your Stored Income Balance ($17,100) to increase your Income Benefit Base thereby reducing your Stored Income balance to $0. On your next Account Anniversary, your Income Benefit Base of $114,000 will be increased to $131,100 and your Annual Income Amount will be $6,555 (5% of your Income Benefit Base). Therefore $6,555 will be added each year to your Stored Income Balance unless your Annual Income Amount changes.

Year	Account Value	Income Benefit Base	Annual Income Amount	Bonus Amount	Stored Income Balance
5	$100,000	$114,000	$5,700	n/a	$17,100
6	$100,000	$131,100	$6,555	n/a	$6,555
7	$100,000	$131,100	$6,555	n/a	$13,110
8	$100,000	$131,100	$6,555	n/a	$19,665

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Assume instead that, during your fifth Account Year, you take a withdrawal of $17,100, thereby reducing your Stored Income Balance to $0. On your next Account Anniversary, your Income Benefit Base will remain at $114,000 and your Annual Income Amount remains at $5,700 (5% of your Income Benefit Base). Therefore $5,700 will be added each year to your Stored Income Balance unless your Annual Income Amount changes.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$114,000	$5,700	$17,100	$0
6	$82,900	$114,000	$5,700	$0	$5,700
7	$82,900	$114,000	$5,700	$0	$11,400
8	$82,900	$114,000	$5,700	$0	$17,100

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Early Withdrawals and Excess Withdrawals may significantly decrease, and even terminate, your benefits under IOD II Plus, including reducing your Account Value to zero and thereby terminating your Contract without value, as described further under “Withdrawals Under IOD II Plus.” Even if your Stored Income Period has begun, withdrawals prior to your First Withdrawal Date are considered Early Withdrawals. Investing in any Fund, other than a Designated Fund, will cancel IOD II Plus as described under “Cancellation of IOD II Plus” in this Appendix.

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Withdrawals Under IOD II Plus

Withdrawals After Your First Withdrawal Date

Your First Withdrawal Date may occur during either your IOD II Plus Bonus Period or your Stored Income Period. If your First Withdrawal Date occurs during the IOD II Plus Bonus Period, you may take withdrawals up to your Annual Income Amount each year without reducing your future Annual Income Amount. Each withdrawal will reduce your Annual Income Amount for that year by the full amount of that withdrawal. You will not be eligible for a 7% bonus during any Account Year in which you have taken a withdrawal. If your First Withdrawal Date occurs during your Stored Income Period, withdrawals, up to the amount of your Stored Income Balance, will reduce your Stored Income Balance by the full amount of the withdrawal, but will not change your Income Benefit Base. This is shown in the example above.

Withdrawals taken after your First Withdrawal Date and during the withdrawal charge period permitted under your Contract are subject to withdrawal charges only to the extent they are in excess of the greatest of:

• the free withdrawal amount permitted under your Contract;

• either your Annual Income Amount (during the IOD II Plus Bonus Period) or your Stored Income Balance (during the Stored Income Period); or

• your Yearly Required Minimum Distribution Amount (subject to conditions discussed in this Appendix under “Certain Tax Provisions”).

Excess Withdrawals

An Excess Withdrawal can occur during the IOD II Plus Bonus Period or the Stored Income Period. During the IOD II Plus Bonus Period, if you take an Excess Withdrawal, both your Income Benefit Base and your IOD II Plus Bonus Base will be reduced according to the following formulas:

Your new Income Benefit Base	=	IBB x	(	AV - WD	)
				AV - AIA
Your new IOD II Plus Bonus Base	=	BB x	(	AV - WD	)
				AV - AIA

Where:
	IBB	=	Your Income Benefit Base immediately prior to the Excess Withdrawal.
	BB	=	Your IOD II Plus Bonus Base immediately prior to the Excess Withdrawal.
	WD	=	The amount of the Excess Withdrawal.
	AIA	=	Your remaining Annual Income Amount immediately prior to the Excess Withdrawal minus any prior partial withdrawals taken during the current Account Year.
	AV	=	Your Account Value immediately prior to the Excess Withdrawal.

During the Stored Income Period, if you take an Excess Withdrawal, your Stored Income Balance will be reduced to zero. In addition, your Income Benefit Base will be reduced according to the following formula:

Your new Income Benefit Base	=	IBB x	(	AV - WD	)
				AV - SB

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Where:
	IBB	=	Your Income Benefit Base immediately prior to the Excess Withdrawal.
	WD	=	The amount of the Excess Withdrawal.
	SB	=	Your Stored Income Balance immediately prior to the Excess Withdrawal (or your Required Minimum Distribution Amount, if greater).
	AV	=	Your Account Value immediately prior to the Excess Withdrawal.

Your Annual Income Amount will be recalculated on your next Account Anniversary based on the reduced Income Benefit Base. Here is an example of an Excess Withdrawal.

Using the same facts as the previous example, assume that in your fifth Account Year you take a withdrawal of $50,000, exceeding your Stored Income Balance. Assume that due to poor investment performance during the fifth Account Year, your Account Value was $90,000 immediately prior to the withdrawal. Your Income Benefit Base will be reduced to $62,551 as shown below and your new Annual Income Amount will be 5% of your new Income Benefit base ($3,128). The Annual Withdrawal Amount of $3,128 will be added to your Stored Income Balance.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$114,000	$5,700	$50,000	$0
6	$50,000	$62,551	$3,128	$0	$3,128
7	$50,000	$62,551	$3,128	$0	$6,2561
8	$50,000	$62,551	$3,128	$0	$9,384

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Your new Income Benefit Base	=	$	114,000 x	(	$90,000 -  $50,000	)	=	$	62,551
					$90,000 - $17,100

Excess Withdrawals taken in a down market could severely reduce, and even terminate, your benefits under IOD II Plus, including reducing your Account Value to zero and thereby terminating your Contract without value.

Early Withdrawals

An Early Withdrawal can occur during the IOD II Plus Bonus Period or the Stored Income Period. Any withdrawals, including any “free withdrawal amounts,” taken before the First Withdrawal Date are Early Withdrawals. If an Early Withdrawal occurs during your IOD II Plus Bonus Period, your Annual Income Amount will be reduced by the full amount of the withdrawal. In addition, your IOD II Plus Bonus Base will be reduced according to the following formula:

Your new IOD II Plus Bonus Base	=	BB x	(	AV - WD	)
				AV

If the Early Withdrawal occurs during the Stored Income Period, your Stored Income Balance will be reduced using the following formula:

Your new Stored Income Balance	=	SB x	(	AV - WD	)
				AV

In either the IOD II Plus Bonus Period or Stored Income Period, your new Income Benefit Base will equal:

Your new Income Benefit Base	=	IBB x	(	AV - WD	)
				AV

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Where:
	IBB	=	Your Income Benefit Base immediately prior to the Early Withdrawal.
	BB	=	Your IOD II Plus Bonus Base immediately prior to the Early Withdrawal.
	SB	=	Your Stored Income Balance immediately prior to the Early Withdrawal.
	WD	=	The amount of the Early Withdrawal.
	AV	=	Your Account Value immediately prior to the Early Withdrawal.

Your future Annual Income Amount will be recalculated based on the reduced Income Benefit Base.

In addition, Early Withdrawals will also be subject to withdrawal charges, to the extent that such withdrawals are in excess of the “free withdrawal amount” permitted under your Contract. Early Withdrawals could severely reduce, and even terminate, your benefits under IOD II Plus, including reducing your Account Value to zero and thereby terminating your Contract without value.

In addition to reducing your benefits under IOD II Plus, any withdrawal before your First Withdrawal Date could have state and federal income tax liability. You should consult a qualified tax professional for more information.

Depleting Your Account Value

If your Account Value is reduced to zero immediately following an Early Withdrawal or an Excess Withdrawal (as described above), then your Stored Income Balance (if any), your IOD II Plus Bonus Base (if any), and your Income Benefit Base will all be reduced to zero and your Contract will terminate without value. Therefore, your Contract, as well as any benefits available with IOD II Plus, will end.

If your Account Value is reduced to zero through any combination of poor investment performance of the Designated Funds, Contract charges, and withdrawals other than Excess Withdrawals or Early Withdrawals, your Income Benefit Base will not be reduced. Your Contract will end, but you will be entitled to receive annual payments as follows.

If you were in the IOD II Plus Bonus Period on the day the Account Value was reduced to zero, regardless of your age, you will be entitled to receive annual amounts equal to 5% of your Income Benefit Base each year for as long as you live.

If you were in the Stored Income Period on the day the Account Value was reduced to zero, you will be entitled to receive annual amounts equal to 5% of your Income Benefit Base. Prior to determining your annual payments, you may increase your Income Benefit Base by any remaining Stored Income Balance as described below. These payments will continue for as long as you live. If you elected joint-life coverage, the payments will continue as long as either you or your spouse are alive as described in this Appendix under “Death of Participant Under IOD II Plus with Joint-Life Coverage.” If you have any remaining Stored Income Balance on the day your Account Value is reduced to zero, you will be notified that, before you begin to receive your “annual lifetime payments,” you must deplete your Stored Income Balance by:

(a) withdrawing your remaining Stored Income Balance;

(b) applying the remaining amount of your Stored Income Balance to increase your Income Benefit Base (and thus the amount of your “annual lifetime payments”); or

(c) using a combination of (a) and (b).

Because the Contract has ended, the amount of these annual lifetime payments will not change and they will not be subject to any withdrawal charges. You should be aware, however, that they could be subject to state and federal income tax liability. You should consult a qualified tax professional for more information.

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Cost of IOD II Plus

If you elected IOD II Plus, we will deduct a quarterly fee from your Account Value (“IOD II Plus Fee”). The IOD II Plus Fee will be taken as a specific deduction from your Account Value on the last valuation day of each Account Quarter and will equal 0.2375 % of your Fee Base on that day, if you elected single-life coverage (0.2875% for joint-life coverage). On an annual basis, the IOD II Plus Fee is equal to 0.95% of your Fee Base if you elected single-life coverage (1.15% for joint-life coverage). We reserve the right to increase the percentage rate used to calculate the IOD II Plus Fee on newly issued Contracts.

During the first Account Year, your Fee Base is equal to your Income Benefit Base. On each Account Anniversary, the Fee Base is recalculated. During the IOD II Plus Bonus Period, your new Fee Base will be reset to equal your Income Benefit Base, if your Income Benefit Base is higher than your current Fee Base. During the Stored Income Period, your new Fee Base will be reset to equal your Income Benefit Base plus your Stored Income Balance (if any) less your Annual Income Amount for that year if this recalculated amount is higher than your current Fee Base. In the event that the recalculated amount is not greater than your current Fee Base, we will continue to calculate your IOD II Plus Fee based upon your current Fee Base until, at least, your next Account Anniversary. Note that, although your IOD II Plus Fee may increase, it will never decrease.

For the most part, we calculate your Fee Base only on your Account Anniversary. However, we will recalculate your Fee Base between Account Anniversaries, if you take an Early Withdrawal or Excess Withdrawal or make additional Purchase Payments during your first Account Year.

If you take an Excess Withdrawal during your IOD II Plus Bonus Period, your Fee Base will be decreased by the following formula:

Your new Fee Base	=	Fee Base x	(	AV - WD	)
				AV - AIA

If you take an Excess Withdrawal during your Stored Income Period, your IOD II Plus Fee Base will be decreased by the following formula:

Your new Fee Base	=	Fee Base x	(	AV - WD	)
				AV - SB

If you take an Early Withdrawal, your IOD II Plus Fee Base will be decreased by the following formula:

Your new Fee Base	=	Fee Base x	(	AV - WD	)
				AV

Where:
	Fee Base	=	Your IOD II Plus Fee Base immediately prior to the Early/Excess Withdrawal.
	WD	=	The amount of the Early/Excess Withdrawal.
	SB	=	Your Stored Income Balance (if any) immediately prior to the Excess Withdrawal.
	AIA	=	Your Annual Income Amount immediately prior to the Excess Withdrawal minus any prior partial withdrawals taken during the current Account Year.
	AV	=	Your Account Value immediately prior to the Early/Excess Withdrawal.

Any additional Purchase Payment you make during your first Account Year will increase your Income Benefit Base as described in this Appendix under “Determining Your Income Benefit Base.” Therefore, your Fee Base will increase by any additional Purchase Payments made.

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Here is an example of how we calculate your Fee Base:

Assume that you are age 60 when your Contract is issued with an initial Purchase Payment of $100,000. Assume you elected to participate in IOD II Plus with single-life coverage and investment performance of the Designated Funds is constant over the years. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment ($100,000) on your Issue Date. Your IOD II Plus Bonus Base is equal to your initial Purchase Payment ($100,000). At issue, your Annual Income Amount is $5,000 (5% of your Income Benefit Base). You wait until your third Account Year before you elect to begin your Stored Income Period. During the IOD II Plus Bonus Period, in years that withdrawals are not taken, your Income Benefit Base increases by 7% of your IOD II Plus Bonus Base (assuming no step-up). At the beginning of your Stored Income Period, Year 3, your Annual Income Amount has increased to $5,700. All values are shown as of the beginning of the Account Year unless otherwise stated.

During the IOD II Plus Bonus Period (Account Years 1 and 2), the Fee Base is set equal to your Income Benefit Base. During the Stored Income Period, the Fee Base is reset at the beginning of the Account Year to equal your Income Benefit Base plus your Stored Income Balance less your Annual Income Amount, if that amount is greater than the previous Fee Base. For example, in Account Year 4, the Fee Base is set equal to the Income Benefit Base ($114,000) plus the Stored Income Balance ($11,400) less your Annual Income Amount ($5,700) if that amount ($119,700) is greater than the previous Fee Base ($114,000).

Year	Income Benefit Base		Annual Income Amount		Stored Income Balance				Fee Base
					Beginning of year	Withdrawal Amount		End of year
1	$	100,000	$	5,000	$0	$	0	$0	$	100,000
2	$	107,000	$	5,350	$0	$	0	$0	$	107,000
3	$	114,000	$	5,700	$5,700	$	0	$5,700	$	114,000
4	$	114,000	$	5,700	$11,400	$	0	$11,400	$	119,700

Assume, instead, that in your fourth Account Year you take an $11,400 withdrawal. At the beginning of your fifth Account Year, your Income Benefit Base ($114,000) plus your Stored Income Balance ($0) less your Annual Income Amount ($5,700) is less than the current Fee Base ($119,700), so there is no change to the Fee Base as shown below. In Account Year 7, the Fee Base is reset. Your Income Benefit Base ($114,000) plus your Stored Income Balance ($17,100) less your Annual income Amount ($5,700), results in an amount of $125,400, an amount that is greater than the previous Fee Base ($119,700).

Year	Income Benefit Base		Annual Income Amount		Stored Income Balance			Fee Base
					Beginning of year	Withdrawal Amount	End of year
4	$	114,000	$	5,700	$11,400	$11,400	$0	$	119,700
5	$	114,000	$	5,700	$5,700	$0	$5,700	$	119,700
6	$	114,000	$	5,700	$11,400	$0	$11,400	$	119,700
7	$	114,000	$	5,700	$17,100	$0	$17,100	$	125,400

On each Account Anniversary thereafter, your Fee Base is recalculated and reset if necessary.

Your IOD II Plus Fee will not change during an Account Year, unless you take one of the following specific actions:

• If you make an additional Purchase Payment during your first Account Year, you will increase your Fee Base and thus your IOD II Plus Fee.

• If you make an Early Withdrawal or an Excess Withdrawal, you will decrease your Fee Base and thus your IOD II Plus Fee.

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In addition, on your Account Anniversary, the IOD II Plus Fee may also change, if we increase the percentage used to calculate the IOD II Plus Fee as described below under “Step-Up Under IOD II Plus.”

The investment performance of the Designated Funds will not affect your IOD II Plus Fee during an Account Year. However, as stated below under “Step-Up Under IOD II Plus,” favorable investment performance may cause the Income Benefit Base to increase on an Account Anniversary, and thus increase your IOD II Plus Fee.

We will continue to deduct the IOD II Plus Fee until you annuitize your Contract, your Account Value reduces to zero, or your benefits under IOD II Plus are cancelled as described under “Cancellation of IOD II Plus” in this Appendix.

Step-Up Under IOD II Plus

You can step-up your Income Benefit Base and IOD II Plus Bonus Base each Account Anniversary prior to your Annuity Commencement Date, provided that you satisfy certain requirements. First, you must meet eligibility requirements:

• Your Account Value less your Stored Income Balance (if any) must equal no more than $5,000,000. (For purposes of determining the $5,000,000 limit, we reserve the right, in our sole discretion, to aggregate your Account Value with the account values of all other variable annuity contracts you own issued by Delaware Life or its affiliates.)

• If your Contract is in the Stored Income Period, your highest quarter-end Account Value (adjusted for subsequent Purchase Payments and withdrawals) during the most recent Account Year (“Highest Quarterly Value”) minus your Stored Income Balance must be greater than your current Income Benefit Base.

• If your Contract has not started the Stored Income Period, your Highest Quarterly Value during the most recent Account Year must be greater than your current Income Benefit Base (adjusted for any applicable bonus if the Contract is in the IOD II Plus Bonus Period).

Second, if you satisfy the eligibility requirements, we then consider whether market conditions have caused us to increase the percentage rate used to calculate the IOD II Plus Fee on newly issued Contracts. If we are no longer issuing Contracts with IOD II Plus, then the percentage rate we use to calculate your IOD II Plus Fee will be set based upon current market conditions at that time. Significant changes in stock market prices, interest rate fluctuations, and competitive industry trends are among the market conditions we consider in whether to change the fee.

• If we have not had to increase the percentage rate as described above, the percentage rate we use to calculate your IOD II Plus Fee will remain unchanged and we will automatically step-up your Income Benefit Base and your IOD II Plus Bonus Base (if applicable).

• If we have had to increase the percentage rate as described above, we offer you the opportunity to step-up at the higher percentage rate. In this case, your written consent is required to accept the higher percentage rate used to calculate your IOD II Plus Fee and step-up your Income Benefit Base. If you do not consent to the step-up and higher percentage, the step-up will not be implemented and all subsequent step-ups of your Income Benefit Base will also be suspended. You may thereafter submit an election form to us, however, in order to consent to the then-applicable percentage rate and thus reactivate subsequent automatic step-ups.

At the time of step-up prior to the Stored Income Period, we will increase your Income Benefit Base and your IOD II Plus Bonus Base each to an amount equal to the highest adjusted quarterly Account Value, if such amount exceeds your current Income Benefit Base (adjusted for any applicable bonus if the Contract is in the IOD II Plus Bonus Period). If the step-up occurred during the IOD II Plus Bonus Period, your IOD II Plus Bonus Period will be renewed for another 10-year period.

At the time of step-up during the Stored Income Period, we will increase your Income Benefit Base to an amount equal to the highest adjusted quarterly Account Value less your Stored Income Balance, if such amount exceeds your current Income Benefit Base. After the step-up, your Annual Income Amount will be 5% of your new Income Benefit Base.

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Below are examples of how step-up works under a few different circumstances.

Assume that you are 60 years old when you purchase a Contract with an initial Purchase Payment of $100,000, and that you elect to participate in IOD II Plus with single-life coverage. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base and your IOD II Plus Bonus Base are equal to your initial Purchase Payment. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). The example assumes you are in the IOD II Plus Bonus Period.

In each of the five examples, Account Values shown are as of the last day of each Account Quarter. Adjustments are made on the day a Purchase Payment or withdrawal is made.

The Account Values on each of your four Account Quarters are $113,000, $108,000, $90,000, and $103,000, respectively. No additional Purchase Payments are made and no withdrawals are taken, so no adjustments to these values are necessary. The highest adjusted quarterly value is $113,000. Both your new Income Benefit Base and IOD II Plus Bonus Base are set to equal $113,000 since that amount exceeds your previous Income Benefit Base increased by 7% of your IOD II Plus Bonus Base ($100,000 + $7,000).

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		n/a		$113,000		$100,000
End of Second Quarter	$108,000		n/a		$108,000		$100,000
End of Third Quarter	$90,000		n/a		$90,000		$100,000
End of Fourth Quarter (before step-up)	$103,000		n/a		$103,000		$100,000
Highest Quarterly Value (after adjustments)				$	113,000

Stored Income Balance at end of fourth quarter n/a (since you are in the IOD II Plus Bonus Period)

Step-up comparison	Is $113,000 greater than $100,000 + $7,000? Yes, so step-up.
On the Account Anniversary (after step-up)
New Income Benefit Base =	$113,000	Highest Quarterly Value (after adjustments)
New Annual Income Amount =	$5,650	$113,000 x 5%
New Stored Income Balance =	n/a	(since you are in the IOD II Plus Bonus Period)
New IOD II Plus Bonus Base =	$113,000

Please note: The end of the fourth Account Quarter and the Account Anniversary are the same day. We only make the distinction to separate values before and after step-up.

If you make an additional Purchase Payment during your first Account Year, your Account Value, your Income Benefit Base, and your IOD II Plus Bonus Base are each immediately increased by the amount of the additional Purchase Payment.

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Here is an example of how an additional Purchase Payment of $50,000 made in the second Account Quarter would affect your step-up and assumes that you are in the IOD II Plus Bonus Period:

Time	Account Value		Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$	100,000		n/a		n/a	$	100,000
End of First Quarter	$	113,000		$50,000		$163,000	$	100,000
$50,000 Purchase Payment	$	163,000		n/a		n/a	$	150,000
End of Second Quarter	$	158,000		n/a		$158,000	$	150,000
End of Third Quarter	$	140,000		n/a		$140,000	$	150,000
End of Fourth Quarter (before step-up)	$	153,000		n/a		$153,000	$	150,000
Highest Quarterly Value (after adjustments)					$	163,000

Stored Income Balance at end of fourth quarter n/a (since you are in the IOD II Plus Bonus Period)

Step-up comparison	Is $163,000 greater than $150,000 + $10,500? Yes, so step-up.
On the Account Anniversary (after step-up)
New Income Benefit Base =	$163,500	Highest Quarterly Value (after adjustments).
New Annual Income Amount =	$8,150	$163,500 x 5%
New Stored Income Balance =	n/a	(since you are in the IOD II Plus Bonus Period)
New IOD II Plus Bonus Base =	$163,000

Please note: Since the additional Purchase Payment occurred after the first Account Quarter, the first Account Quarter value was adjusted.

Here is an example of how a $4,000 withdrawal taken in the second Account Quarter would affect your step-up and assumes you are in the IOD II Plus Bonus Period:

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		$4,000		$109,000		$100,000
$4,000 withdrawal	$109,000		n/a		n/a		$100,000
End of Second Quarter	$104,000		n/a		$104,000		$100,000
End of Third Quarter	$86,000		n/a		$86,000		$100,000
End of Fourth Quarter (before step-up)	$99,000		n/a		$99,000		$100,000
Highest Quarterly Value (after adjustments)				$	109,000
Stored Income Balance at end of fourth quarter			n/a (since you are in the IOD II Plus Bonus Period)
Step-up comparison	Is $109,000 greater than $100,000 + $0 (no bonus since withdrawal taken? Yes, so step-up.
On the Account Anniversary (after step-up)
New Income Benefit Base =	$109,000		Highest Quarterly Value (after adjustments)
New Annual Income Amount =	$5,450		$109,000 x 5%
New Stored Income Balance =	n/a		(since you are in the IOD II Plus Bonus Period)
New IOD II Plus Bonus Base =	$109,000

Please note: Since the withdrawal occurred after the first Account Quarter, the first Account Quarter value was adjusted.

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Assume instead you take a $40,000 withdrawal in the second Account Quarter at a point when the Account Value equaled $99,000 immediately before the withdrawal. Since this withdrawal exceeds your Annual Income Amount, it is considered an Excess Withdrawal. The Excess Withdrawal reduces your Income Benefit Base and your IOD II Plus Bonus Base as described under “Excess Withdrawals” in this Appendix. All previous quarterly Account Values are first reduced by the amount of the Annual Income Amount less any prior withdrawals taken in that Account Year and then adjusted in the same proportion that the Income Benefit Base was adjusted after the Excess Withdrawal. (See the two-step calculation shown in the box below the following example.) The example assumes you are in the IOD II Plus Bonus Period.

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		$45,213		$67,787		$100,000
$40,000 withdrawal	$59,000		n/a		n/a		$62,766
End of Second Quarter	$68,000		n/a		$68,000		$62,766
End of Third Quarter	$50,000		n/a		$50,000		$62,766
End of Fourth Quarter (before step-up)	$63,000		n/a		$63,000		$62,766
Highest Quarterly Value (after adjustments)				$	68,000
Stored Income Balance at end of fourth quarter			n/a (since you are in the IOD II Plus Bonus Period)

Step-up comparison	Is $68,000 greater than $62,766 + $0 (no bonus since withdrawal taken)? Yes, so step-up.
On the Account Anniversary (after step-up)
New Income Benefit Base =	$68,000	Highest Quarterly Value (after adjustments)
New Annual Income Amount =	$3,400	$68,000 x 5%
New Stored Income Balance =	n/a	(since you are in the IOD II Plus Bonus Period)
New IOD II Plus Bonus Base =	$68,000

(1)   Reduce the end of First Quarter Account Value by the Annual Income Amount less any prior withdrawals taken in that Account Year	=	$113,000	-	$5,000		=	$108,000
(2)   Adjust the Account Value for the first Account Quarter	=	$108,000 x	(	$99,000 - $40,000)          $99,000 - $5,000	)	=	$67,787
The total adjustment	=	$113,000	-	$67,787		=	$45,213

Using the facts of the above example where no withdrawals or additional premiums have taken place, assume that for Account Year 2 you have elected to begin the Stored Income Period. As stated in the above example the Income Benefit Base is $113,000 beginning of Account Year 2. Your Annual Income Amount is $5,650 (5% of your Income Benefit Base). Because you have elected to begin the Stored Income Period, your Stored Income Balance is initially equal to your Annual Income Amount ($5,650).

The Account Values on each of your four Account Quarters for Account Year 2 are $105,000, $111,000, $116,000, and $120,000, respectively. No additional Purchase Payments are made and no withdrawals are taken, so no adjustments to these values are necessary. The highest adjusted quarterly value is $120,000. Your new Income Benefit Base is set to equal $114,350 ($120,000 - $5,650) since that amount exceeds your previous Income Benefit Base.

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Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
End of First Quarter	$105,000		n/a		$105,000		$113,000
End of Second Quarter	$111,000		n/a		$111,000		$113,000
End of Third Quarter	$116,000		n/a		$116,000		$113,000
End of Fourth Quarter (before step-up)	$120,000		n/a		$120,000		$113,000
Highest Quarterly Value (after adjustments)				$	120,000
Stored Income Balance at end of fourth quarter			$5,650

Step-up comparison	Is ($120,000 - $5,650) greater than $113,000? Yes, so step-up.
On the Contract Anniversary (after step-up)
New Income Benefit Base =	$114,350	Highest Quarterly Value (after adjustments) less the Stored Income Balance
New Annual Income Amount =	$5,718	$114,350 x 5%
New Stored Income Balance =	$11,367
New IOD II Plus Bonus Base =	n/a	No longer applicable for the Stored Income Period

Please note: The end of the fourth Account Quarter and the Contract Anniversary are the same day. We only make the distinction to separate values before and after step-up.

Joint-Life Coverage

On the Issue Date, you have the option of electing IOD II Plus with single-life coverage or, for a higher IOD II Plus Fee, with joint-life coverage. Once you make the election, you cannot switch between joint-life and single-life coverage, regardless of any change in life events. Joint-life coverage is not available if you are unmarried on the Issue Date.

Joint-life coverage can be elected on an individually-owned Contract or on a co-owned Contract. On an individually-owned Contract, joint-life coverage is available only if your spouse is the sole primary beneficiary on the Issue Date and remains the sole primary beneficiary while IOD II Plus is in effect. On a co-owned Contract, joint-life coverage is available only if you and your spouse are the only co-owners on the Issue Date and remain so while IOD II Plus is in effect. Whereas single-life coverage provides an Annual Income Amount only until any Participant dies, joint-life coverage provides an Annual Income Amount for as long as either you or your spouse is alive. Note that, for joint-life coverage to continue after the death of any Participant, the surviving spouse must elect to continue the contract through the “Spousal Continuance” provision. See also “Death of Participant Under IOD II Plus with Joint-Life Coverage” in this Appendix.

If you have elected joint-life coverage, the IOD II Plus Bonus Period and the Stored Income Period are determined based on the age of the younger spouse if the younger spouse attains (or would have attained) age 50. (For purposes of joint-life coverage, the younger spouse refers to the person who was the younger spouse on the Issue Date, even if that person has died or is no longer married to the person who was his or her spouse on the Issue Date.) On the first day of the Stored Income Period, your Annual Income Amount will be added to your Stored Income Balance. The First Withdrawal Date will be your Issue Date if the younger spouse is at least age 59 at issue. Otherwise it will be the first Account Anniversary after the younger spouse attains (or would have attained) age 59.

The two spouses on the Issue Date are the only two people covered under the joint-life feature. If a Participant remarries, the new spouse is not covered under the joint-life feature. Therefore, if the spouse on the Issue Date is no longer your spouse, your benefits under IOD II Plus continue for your life and, when you die, annual withdrawals are no longer available. Note that, when you elect joint-life coverage, you also elect the higher joint-life fee. The percentage rate of the fee will not be reduced regardless of any change in life events.

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If one spouse is significantly younger than the other spouse, you should carefully consider whether joint-life coverage is an appropriate choice in light of the possibly long waiting period before the benefit begins to store income and in light of the higher fee for joint-life coverage.

Joint-life coverage may not be available on all Contracts.

Cancellation of IOD II Plus

Should you decide that IOD II Plus is no longer appropriate for you, you may cancel IOD II Plus at any time. Upon cancellation, all benefits and charges under IOD II Plus shall cease. Once cancelled, IOD II Plus cannot be reinstated.

Although transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached, IOD II Plus will be cancelled automatically:

• if any Purchase Payment is allocated to an investment option other than a Designated Fund; or

• if any portion of Account Value maintained in a Designated Fund is transferred into an investment option other than a Designated Fund.

IOD II Plus will also be cancelled for any of the following:

• upon a termination of the Contract;

• upon annuitization*; or

• your Income Benefit Base is reduced to zero as a result of Early or Excess Withdrawals.

* Note that the Maximum Annuity Commencement Date permitted under this Contract is the first day of the month following the Annuitant’s 95^th birthday. See “Selection of Annuity Commencement Date” in the prospectus to which this Appendix is attached.

A change of ownership may also cancel your benefits under IOD II Plus.

Death of Participant Under IOD II Plus with Single-Life Coverage

If you elected single-life coverage, IOD II Plus terminates on the death of any Participant and the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract. Alternately, the Beneficiary may elect to receive the Stored Income Balance, if any.

Death of Participant Under IOD II Plus with Joint-Life Coverage

If the surviving spouse on the Death Benefit Date was not the spouse of a Participant on the original Contract’s Issue Date, then this section does not apply, even if joint-life coverage was elected. In such case, if a Participant dies while participating in IOD II Plus, the provisions of the section titled “Death of Participant Under IOD II Plus with Single-Life Coverage” will apply.

If you purchased joint-life coverage and one of the Participants dies, IOD II Plus will continue, provided that the surviving spouse, as the sole primary beneficiary, continues the Contract. In such case:

• the new Account Value will be equal to the Death Benefit;

• the Stored Income Balance, if any, will remain unchanged;

• the Income Benefit Base and the IOD II Plus Bonus Base will remain unchanged until the next Account Anniversary when a step-up could apply due to an increase in the Account Value (see “Step-Up Under IOD II Plus” in this Appendix);

• on each Account Anniversary, the Annual Income Amount will be equal to the Income Benefit Base multiplied by 5%; and

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• the percentage rate of the IOD II Plus Fee for the joint-life coverage option will continue for the surviving spouse as it was immediately prior to the death of the Participant.

At the death of the surviving spouse, the Contract, including IOD II Plus, terminates.

If you purchased joint-life coverage and the deceased Participant’s surviving spouse does not continue the Contract, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Annuitization Under IOD II Plus

Under the terms of IOD II Plus, if your Account Value is greater than zero on your Maximum Annuity Commencement Date, you may elect to:

(1) surrender your Contract and receive the greater of your Cash Surrender Value or your Stored Income Balance, if any;

(2) annuitize your Account Value under one of the Annuity Options available on that date; or

(3) (a) receive the remaining Stored Income Balance, if any, in a single sum and (b) annuitize your remaining Account Value as a single-life annuity (or a joint-life annuity, if joint-life coverage was elected at issue and you are still eligible to receive it) with an annualized annuity payment of not less than 5% of your then current Income Benefit Base.

If you make no election, we will default your choice to option 3.

If your Account Value has been reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Income Benefit Base is greater than zero on or before your Maximum Annuity Commencement Date, you will receive your full Annual Income Amount each year until you die. For a more complete discussion of this, see “Depleting Your Account Value” in this Appendix.

Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as IOD II Plus. When you elect to participate in IOD II Plus, you may withdraw annual amounts up to the Yearly RMD Amount without affecting your benefit, subject to the conditions stated below. In the event that your Yearly RMD Amount attributable to your Contract is greater than your Stored Income Balance, we are currently waiving the withdrawal provisions under IOD II Plus as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in IOD II Plus, we reduce your Account Value and your Stored Income Balance, dollar for dollar, by the amount of the withdrawal to a value not less than zero. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than your Stored Income Balance. In other words, if a Yearly RMD Amount exceeds your Stored Income Balance, we will reduce your Stored Income Balance, but we will not reduce your Income Benefit Base, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

Currently, any withdrawal in excess of the Annual Income Amount or Stored Income Balance that is taken to satisfy the Yearly RMD Amounts will not be treated as an Excess Withdrawal, and will not reduce the Income Benefit Base. However, if there is any material change to the current Code or IRS Rules governing the timing or determination of required minimum distribution amounts, then the Company reserves the right to treat any withdrawal greater than the Annual Income Amount or Stored Income Balance as an Excess Withdrawal which may significantly reduce the Income Benefit Base.

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

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APPENDIX O - RETIREMENT INCOME ESCALATOR^SM II

The optional living benefit known as Retirement Income Escalator II (“RIE II”) was available on Contracts purchased on or after October 20, 2008, and prior to August 17, 2009, and on certain limited Contracts purchased on or after August 17, 2009. If you elected to participate in RIE II, the following information applies to your Contract. RIE II is no longer available for sale on new Contracts.

If you purchased your Contract prior to February 17, 2009, and elected to participate in RIE II, your Lifetime Withdrawal Percentage (defined below) is different from the Lifetime Withdrawal Percentage available on Contracts purchased on or after that date. (See “Determining Your Annual Withdrawal Amount,” “Step-Up Under RIE II,” and “Joint-Life Coverage” in this Appendix.) In addition, unless you “step-up” as described under “Step-Up Under RIE II,” the fee charged for your RIE II is lower than the fee charged on Contracts purchased on or after February 17, 2009. (See “Cost of RIE II” in this Appendix.)

RIE II provides an annual income guarantee for life. You can withdraw up to a guaranteed amount each year and, provided you meet certain requirements, we will continue to send you the guaranteed amount even if your Account Value should go to zero. Your income amount will not decrease, provided that your withdrawals do not exceed the guaranteed amount in any year. In general, the longer you wait for your first withdrawal under RIE II, the larger the guaranteed Annual Withdrawal Amount. To describe how RIE II works, we use the following definitions:

Annual Withdrawal Amount:	The total guaranteed amount available for withdrawal each Account Year during your life, provided that you comply with certain conditions. The Annual Withdrawal Amount is equal to your current Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. (You should be aware that certain actions you take could significantly reduce the amount of your Annual Withdrawal Amount.)
Early Withdrawal:	Any withdrawal taken prior to your RIE II Coverage Date.
Excess Withdrawal:	Any withdrawal taken after your RIE II Coverage Date that exceeds your Annual Withdrawal Amount (or your Required Minimum Distribution Amount, if greater).
Lifetime Withdrawal Percentage:	The percentage used to calculate your Annual Withdrawal Amount.
RIE II Bonus Base:	The amount on which bonuses are calculated. The RIE II Bonus Base is equal to the sum of your Purchase Payments, increased by any “step-ups” (described below) and reduced proportionately by any withdrawal taken prior to your RIE II Coverage Date or any Excess Withdrawals (see “Excess Withdrawals” under “Withdrawals Under RIE II”).
RIE II Bonus Period:	A ten-year period commencing on the Issue Date and ending on your tenth Account Anniversary. If you “step up” RIE II (described below) during the RIE II Bonus Period, the RIE II Bonus Period is extended to ten years from the date of the step-up.
RIE II Coverage Date:	Your Issue Date if you are at least age 59 at issue; otherwise, the first Account Anniversary after you attain age 59.
Withdrawal Benefit Base:	The amount used to calculate (1) your Annual Withdrawal Amount and (2) your “RIE II Fee” (see “Cost of RIE II”).
You and Your:	The terms “you” and “your” refer to the oldest living Participant or the surviving spouse of the oldest Participant, as described under “Death of Participant Under RIE II with Joint-Life Coverage.” In the case of a non-natural Participant, these terms refer to the oldest living Annuitant.

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Upon annuitization, RIE II and any elected optional death benefit automatically terminate.

RIE II allows you to withdraw a guaranteed amount of money each year, beginning on your RIE II Coverage Date, until the death of any Participant if single-life coverage is elected (or until the death of both the Participant and the Participant’s spouse if joint-life coverage is elected). Your right to take withdrawals under RIE II continues regardless of the investment performance of the Designated Funds, provided that you comply with certain requirements. After your RIE II Coverage Date, the amount you can withdraw, in any one year, can be 4%, 5%, 6%, or 7% of your Withdrawal Benefit Base, depending upon your age (or the younger spouse’s age in case of joint-life coverage) on the date of your first withdrawal.

In addition, if you make no withdrawals in an Account Year during your RIE II Bonus Period, we will increase your Withdrawal Benefit Base by an amount equal to 7% of your RIE II Bonus Base. The RIE II Bonus Period is a 10-year period commencing on your Issue Date. The period will be extended for an additional 10 years commencing on each step-up of the Withdrawal Benefit Base (see “Step-Up Under RIE II” in this Appendix), provided that the step-up occurs during the RIE II Bonus Period.

If you are participating in RIE II, you may make Purchase Payments only during your first Account Year. After the first Account Anniversary, any Purchase Payments you submit will be returned to you.

To participate in RIE II, all of your Account Value must be invested in one or more of the Designated Funds at all times during the term of RIE II. (The “term” of RIE II is for life, unless your Withdrawal Benefit Base is reduced to zero or RIE II is terminated or cancelled as described under “Cancellation of RIE II,” “Depleting Your Account Value,” and “Annuitization Under RIE II” in this Appendix.) The only Funds, dollar-cost averaging program options, and asset allocation models that currently qualify as Designated Funds are listed in the section entitled “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

Under RIE II, you have the option of choosing between single-life coverage and joint-life coverage. These options are described in greater detail under “Joint-Life Coverage,” “Death of Participant Under RIE II with Single-Life Coverage,” and “Death of Participant Under RIE II with Joint-Life Coverage” in this Appendix.

Determining Your Withdrawal Benefit Base

On the Issue Date, we set your Withdrawal Benefit Base equal to your initial Purchase Payment. Thereafter, your Withdrawal Benefit Base is:

• increased by any applicable bonuses;

• increased by any step-ups as described under “Step-Up Under RIE II” in this Appendix;

• increased by any subsequent Purchase Payments you make during the first year following the Issue Date.

• decreased following any Early Withdrawals you take as described under “Early Withdrawals” in this Appendix; and

• decreased following any Excess Withdrawals you take as described under “Excess Withdrawals” in this Appendix.

Determining Your Annual Withdrawal Amount

Your Annual Withdrawal Amount is first determined when you make your first withdrawal after your RIE II Coverage Date and then on each subsequent Account Anniversary. Your Annual Withdrawal Amount is equal to your Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. The Lifetime Withdrawal Percentage

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depends upon your age at the time you make your first withdrawal after your RIE II Coverage Date as shown in the tables below. If you purchased your Contract on or after February 17, 2009, your Lifetime Withdrawal Percentage is determined, as follows:

Your Age on the Date of the First Withdrawal After Your RIE II Coverage Date*	Lifetime Withdrawal Percentage
59 - 64	4%
65 - 74	5%
75 - 79	6%
80 or older	7%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage” in this Appendix.

If you purchased your Contract prior to February 17, 2009, your Lifetime Withdrawal Percentage is determined, as follows:

Your Age on the Date of the First Withdrawal After Your RIE II Coverage Date*	Lifetime Withdrawal Percentage
59 - 69	5%
70 - 79	6%
80 or older	7%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage” in this Appendix.

Your Lifetime Withdrawal Percentage will only increase if your age at the time of step-up coincides with a higher percentage as shown in the tables above. (See “Step-Up Under RIE II” in this Appendix.) An increase in the Lifetime Withdrawal Percentage will increase your Annual Withdrawal Amount.

Your Annual Withdrawal Amount equals your Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. If your Withdrawal Benefit Base changes after your Annual Withdrawal Amount is determined, your Annual Withdrawal Amount will also change. The new Annual Withdrawal Amount will be effective on the next Account Anniversary and, at that time, will reflect any increases caused by a step-up or a bonus that took place during the prior Account Year and any decreases caused by Excess Withdrawals (described below) that were taken during the prior Account Year. The new Annual Withdrawal Amount will be in effect for all subsequent Account Years, unless and until there is a further change in your Withdrawal Benefit Base.

How RIE II Works

Each Account Year, beginning on your RIE II Coverage Date, you can take withdrawals totaling up to the amount of your Annual Withdrawal Amount, subject to the terms and conditions discussed below. Even if your Account Value is reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), as long as your Withdrawal Benefit Base is greater than zero, you will receive your full Annual Withdrawal Amount every year until you die.

If you defer taking any withdrawals in an Account Year during the RIE II Bonus Period, your Withdrawal Benefit Base will be increased by an amount equal to 7% of your RIE II Bonus Base. However, if this amount is less than the amount you will receive under a step-up, the Withdrawal Benefit Base will instead be increased by the step-up amount, unless there is a fee increase as described under “Step-Up Under RIE II.” In the case of a fee increase, we will notify you in writing, in advance of your Contract Anniversary, and seek your written consent to the step-up and fee increase. If you do take a withdrawal, you are still eligible for step-up. (See “Step-Up under RIE II” in this Appendix.) In this way, if you defer taking withdrawals during your early Account Years, you will be able to take larger withdrawals in later Account Years. Your Annual Withdrawal Amount is not, however, cumulative: any unused portion of your Annual Withdrawal Amount in any Account Year cannot be applied to a future year.

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Note that the timing and amount of your withdrawals may significantly decrease, and even terminate, your total benefits under RIE II, including reducing your Account Value to zero and thereby terminating your Contract without value, as described further under “Withdrawals Under RIE II” in this Appendix. Note also that investing in any Fund, other than a Designated Fund, will cancel RIE II, as described under “Cancellation of RIE II” in this Appendix.

Here is an example of how RIE II works. This example assumes that your Contract was purchased on or after February 17, 2009.

Assume that you are age 65 when your Contract is issued with an initial Purchase Payment of $100,000 and that you elected to participate in RIE II with single-life coverage. (If you selected joint-life coverage the numbers shown in the example could be different.) Your Withdrawal Benefit Base and your RIE II Bonus Base are each set equal to your initial Purchase Payment on your Issue Date. Because you reached age 59 prior to your Issue Date, your RIE II Coverage Date is your Issue Date. You can begin at any time to withdraw up to your Annual Withdrawal Amount each Account Year without reducing your Withdrawal Benefit Base. During the RIE II Bonus Period, your Withdrawal Benefit Base will increase by 7% of your RIE II Bonus Base each Account Year in which you do not take a withdrawal. By deferring your withdrawals during a RIE II Bonus Period you will increase your Withdrawal Benefit Base, which in turn may maximize your Annual Withdrawal Amount. After the RIE II Bonus Period, you will still be eligible to take your Annual Withdrawal Amount each year and to step-up your Withdrawal Benefit Base. However, you will no longer be eligible for the 7% bonus each year. (For convenience, assume that the investment performance on your underlying investments remains constant throughout the life of your Contract, except for Account Year 2.)

Assume that, because of good investment performance of the Designated Funds during Account Year 2, your Account Value has grown to $125,000 on your second Account Anniversary. Your Contract is, therefore, eligible for an automatic step-up of its Withdrawal Benefit Base and RIE II Bonus Base. Assume that we have not increased the percentage used to calculate the RIE II Fee on newly issued Contracts; therefore we will step up your Withdrawal Benefit Base and your RIE II Bonus Base to $125,000. Your new Annual Withdrawal Amount will be 5% of your new Withdrawal Benefit Base, or $6,250. Going forward, your new RIE II Bonus Base will be $125,000, unless increased by another step-up or reduced by an Excess Withdrawal, and your RIE II Bonus Period will now end on your 12^th Account Anniversary (i.e., ten years after the step-up). All values shown are as of the beginning of the Account Year.

Account Year	Account Value	Withdrawal Benefit Base	RIE II Bonus Base	Annual Withdrawal Amount	Withdrawals
1	$100,000	$100,000	$100,000	$5,000	$0
2	$100,000	$107,000	$100,000	$5,350	$0
3	$125,000	$125,000	$125,000	$6,250	$0

Assume you take your first withdrawal when you are age 71 in Account Year 7. Using the chart on the previous page, we set your Lifetime Withdrawal Percentage at 5%. Your Annual Withdrawal Amount will be equal to 5% of your Withdrawal Benefit Base. You can begin withdrawing up to $8,000 each Account Year without reducing your Withdrawal Benefit Base, as shown in the following table:

Account Year	Account Value	Withdrawal Benefit Base	RIE II Bonus Base	Annual Withdrawal Amount	Withdrawals
4	$125,000	$133,750	$125,000	$6,688	$0
5	$125,000	$142,500	$125,000	$7,125	$0
6	$125,000	$151,250	$125,000	$7,563	$0
7	$125,000	$160,000	$125,000	$8,000	$8,000
8	$117,000	$160,000	$125,000	$8,000	$8,000

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Assume in Account Year 9, you defer taking a withdrawal. Your Withdrawal Benefit Base will increase by $8,750 which is 7% of your RIE II Bonus Base ($125,000). Your new Annual Withdrawal Amount will be set equal to $8,438, which is 5% of your new Withdrawal Benefit Base ($168,750), as shown below:

Account Year	Account Value	Withdrawal Benefit Base	RIE II Bonus Base	Annual Withdrawal Amount	Withdrawals
9	$109,000	$160,000	$125,000	$8,000	$0
10	$109,000	$168,750	$125,000	$8,438	$8,438

Assume that in Account Year 14, you again decide to defer taking a withdrawal. Your Withdrawal Benefit Base will not be increased because you are no longer in the RIE II Bonus Period, as your RIE II Bonus Period ends 10 years after the previous step-up.

Account Year	Account Value	Withdrawal Benefit Base	RIE II Bonus Base	Annual Withdrawal Amount	Withdrawals
11	$100,563	$168,750	$125,000	$8,438	$8,438
12	$92,125	$168,750	$125,000	$8,438	$8,438
13	$83,688	$168,750	$125,000	$8,438	$8,438
14	$75,250	$168,750	$125,000	$8,438	$0
15	$75,250	$168,750	$125,000	$8,438	$8,438

There is no way to know for certain whether forgoing income in one or more years will increase or decrease the total income paid to the Participant over the life of the annuity. Generally speaking, not taking income in a year will increase the Annual Withdrawal Amount during the RIE II Bonus Period due to the bonus and the potential for step-ups. In this way, if you defer taking withdrawals during your early Account Years, you will be able to take larger withdrawals in later Account Years. Your Annual Withdrawal Amount is not, however, cumulative: any unused portion of your Annual Withdrawal Amount in any Account Year cannot be applied to a future year.

The total lifetime payments to the Participant could be more or less depending upon investment performance over the life of the Contract and the age to which the Participant lives. Better investment performance and a longer life span generally make it advantageous to forgo the Annual Withdrawal Amount in a limited number of years.

Withdrawals Under RIE II

Withdrawals After the RIE II Coverage Date

Starting on your RIE II Coverage Date and continuing to your Annuity Commencement Date, you may take withdrawals totaling up to your Annual Withdrawal Amount each Account Year without reducing your Withdrawal Benefit Base. These withdrawals will reduce your Account Value by the amount of the withdrawal, but will not change your Withdrawal Benefit Base. These withdrawals are subject to withdrawal charges only to the extent they are in excess of the greatest of:

• the free withdrawal amount permitted under your Contract (discussed under “Free Withdrawal Amount” under “Withdrawal Charge” in the prospectus to which this Appendix is attached);

• your Yearly Required Minimum Distribution Amount (subject to conditions discussed under “Certain Tax Provisions” in this Appendix); and

• your Annual Withdrawal Amount.

The previous example shows withdrawals taken after your RIE II Coverage Date. Because they do not exceed your Annual Withdrawal Amount (or your Required Minimum Distribution amount, if higher), the withdrawals do not reduce your Withdrawal Benefit Base or your Annual Withdrawal Amount. The withdrawals in the above example are not subject to any withdrawal charges because they do not exceed any of the following:

• your free withdrawal amount permitted under this Contract,

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• your Required Minimum Distribution Amount, or

• your Annual Withdrawal Amount.

If a withdrawal exceeds the greatest of these amounts, then the withdrawal would be subject to withdrawal charges.

Excess Withdrawals

If you take an Excess Withdrawal, your RIE II Bonus Base and your Withdrawal Benefit Base will be reduced according to the following formulas:

Your new RIE II Bonus Base	=	BB x	(	AV - WD	)
				AV - AWA
Your new Withdrawal Benefit Base	=	WBB x	(	AV - WD	)
				AV - AWA

Where:
	BB	=	Your RIE II Bonus Base immediately prior to the Excess Withdrawal.
	WBB	=	Your Withdrawal Benefit Base immediately prior to the Excess Withdrawal.
	WD	=	The amount of the Excess Withdrawal.
	AV	=	Your Account Value immediately prior to the Excess Withdrawal.
	AWA	=	Your Annual Withdrawal Amount minus any prior partial withdrawals taken during the current Account Year.

Using the facts of the above example, assume that in Account Year 7, you take two withdrawals: a $4,000 withdrawal followed by a $6,000 withdrawal. Your first withdrawal reduces your Account Value to $121,000 but does not affect your RIE II Bonus Base or Withdrawal Benefit Base because it is not in excess of your Annual Withdrawal Amount. Your second withdrawal (when combined with the first) is in excess of your $8,000 Annual Withdrawal Amount. After your second withdrawal, your RIE II Bonus Base and your Withdrawal Benefit Base will be reduced as follows:

Your new RIE II Bonus Base	=		$125,000	x	$121,000 - $6,000
					$121,000 - ($8,000 - $4,000)
	=		$125,000	x	$115,000
					$117,000
	=		$125,000	x	0.98291
	=	$	122,863
Your new Withdrawal Benefit Base	=		$160,000	x	$121,000 - $6,000
					$121,000 - ($8,000 - $4,000)
	=		$160,000	x	$115,000
					$117,000
	=		$160,000	x	0.98291
	=		$157,265

Beginning on your Account Anniversary and going forward, your new Annual Withdrawal Amount will be reduced to 5% of your new Withdrawal Benefit Base, or $7,863.

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You should be aware that, if your Account Value is less than the Withdrawal Benefit Base at the time an Excess Withdrawal is taken (as in the above example), then your Withdrawal Benefit Base and your RIE II Bonus Base will be reduced by an amount equal to or more than the excess amount withdrawn. Thus, Excess Withdrawals taken in a down market could severely reduce, and even terminate, your benefits under RIE II, including reducing your Account Value to zero and thereby terminating your Contract without value.

Early Withdrawals

All withdrawals taken before your RIE II Coverage Date, including any “free withdrawal amounts” permitted under your Contract, will be considered Early Withdrawals and your RIE II Bonus Base and your Withdrawal Benefit Base will be reduced using the following formulas:

Your new RIE II Bonus Base	=	BB x	(	AV - WD	)
				AV
Your new Withdrawal Benefit Base	=	WBB x	(	AV - WD	)
				AV

Where:
	BB	=	Your RIE II Bonus Base immediately prior to the Early Withdrawal.
	WBB	=	Your Withdrawal Benefit Base immediately prior to the Early Withdrawal.
	WD	=	The amount of the Early Withdrawal.
	AV	=	Your Account Value immediately prior to the Early Withdrawal.

Assume that you are age 45 when your Contract is issued with an initial Purchase Payment of $100,000 and that you elected to participate in RIE II with single-life coverage. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Withdrawal Benefit Base and your RIE II Bonus Base are each set equal to your initial Purchase Payment on your Issue Date. Your Withdrawal Benefit Base will increase by 7% of your RIE II Bonus Base each year in which you do not take a withdrawal. Your RIE II Coverage Date will not occur until your 15^th Account Anniversary (the first Account Anniversary after you reach age 59). Any withdrawals you take prior to that time will be Early Withdrawals.

Assume that because of good investment performance of the Designated Funds during Account Year 2, your Account Value has grown to $125,000 on your second Account Anniversary. Your Contract is therefore eligible for an automatic step-up of its Withdrawal Benefit Base and RIE II Bonus Base. Assume that we have not increased the percentage used to calculate the RIE II Fee on newly issued Contracts; therefore we will step-up your Withdrawal Benefit Base and your RIE II Bonus Base to $125,000.

Assume that, in your Account Year 7, you withdraw $10,000. Because you are age 51 (and younger than age 59), this is an Early Withdrawal. All values shown are as of the beginning of the Account Year.

Account Year	Account Value	Withdrawal Benefit Base	RIE II Bonus Base	Annual Withdrawal Amount	Withdrawals
1	$100,000	$100,000	$100,000	$0	$0
2	$100,000	$107,000	$100,000	$0	$0
3	$125,000	$125,000	$125,000	$0	$0
4	$125,000	$133,750	$125,000	$0	$0
5	$125,000	$142,500	$125,000	$0	$0
6	$125,000	$151,250	$125,000	$0	$0
7	$125,000	$160,000	$125,000	$0	$10,000

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At this point, your RIE II Bonus Base and your Withdrawal Benefit Base will be recalculated as follows:

Your new RIE II Bonus Base	=	$	125,000	x	$125,000 - $10,000
					$125,000
	=	$	125,000	x	$115,000
					$125,000
	=	$	125,000	x	0.92000
	=	$	115,000
Your new Withdrawal Benefit Base	=	$	160,000	x	$125,000 - $10,000
					$125,000
	=	$	160,000	x	$115,000
					$125,000
	=	$	160,000	x	0.92000
	=	$	147,200

Your Annual Withdrawal Amount will still be $0 because you have not reached your RIE II Coverage Date.

You should be aware that Early Withdrawals could severely reduce, and even terminate, your benefits under RIE II, including reducing your Account Value to zero and thereby terminating your Contract without value.

In addition to reducing your benefits under RIE II, any withdrawal before you reach age 59¹⁄₂ could have adverse state and federal tax liabilities. You should consult a qualified tax professional for more information.

Depleting Your Account Value

If your Account Value is reduced to zero immediately following an Excess Withdrawal or an Early Withdrawal, then your Withdrawal Benefit Base and the RIE II Bonus Base will both be reduced to zero and your Contract will terminate without value. Therefore, your Contract, as well as any benefits available with RIE II, will end.

If, on the other hand, your Account Value is reduced to zero through any combination of poor investment performance of the Designated Funds, Contract charges, and withdrawals other than Excess Withdrawals or Early Withdrawals, your Withdrawal Benefit Base will not be reduced. Your Contract will end, but your right to receive an annual withdrawal amount will continue. That is to say, regardless of your age on the day the Account Value is reduced to zero, you will be entitled to receive your Annual Withdrawal Amount each year for as long as you live.

Cost of RIE II

If you elect RIE II, we will deduct a quarterly fee from your Account Value (“RIE II Fee”). The RIE II Fee will be taken as a specific deduction from your Account Value on the last valuation day of each Account Quarter. The RIE II Fee will be a percentage of your Withdrawal Benefit Base. This percentage will equal 0.2375% of your Withdrawal Benefit Base on the last day of the Account Quarter if you elected single-life coverage (0.2875% for joint-life coverage). The maximum RIE II Fee you can pay in any one Account Year is equal to 0.95% of the highest Withdrawal Benefit Base at any point in that Account Year if you elected single-life coverage (1.15% for joint-life coverage).

If you purchased your Contract prior to February 17, 2009, your cost for RIE II was initially, on an annual basis, 0.80% of the highest Withdrawal Benefit Base for single-life coverage (1.00% for joint-life coverage). Your cost for RIE II will not increase unless:

• you decide to step-up your Withdrawal Benefit Base, as described below under “Step-Up Under RIE II,” and

• you consent in writing, at the time of step-up, to accept an increase in your RIE II Fee to 0.95% for single-life coverage (1.15% for joint-life coverage).

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If you do not consent to the higher fee, the step-up will not be implemented and all subsequent step-ups will be suspended unless and until we receive your written consent to the higher fee.

Your RIE II Fee will not change during an Account Year, unless you take one of the following specific actions:

• If you make an additional Purchase Payment during your first Account Year, you will increase your Withdrawal Benefit Base and thus your RIE II Fee.

• If you make a withdrawal before your RIE II Coverage Date or a withdrawal in excess of your Annual Withdrawal Amount, you will decrease your Withdrawal Benefit Base and thus your RIE II Fee.

However, on each Account Anniversary, we determine whether favorable investment performance of the Designated Funds may cause the Withdrawal Benefit Base to increase as described below under “Step-Up Under RIE II.” If your Withdrawal Benefit Base increases because of favorable investment performance, your RIE II fee will also increase because it is recalculated on each Account Anniversary based upon your highest Withdrawal Benefit Base during that Account Year.

We will continue to deduct the RIE II Fee until you annuitize your Contract, your Account Value reduces to zero, or your RIE II is terminated or cancelled as described under “Cancellation of RIE II” in this Appendix.

Step-Up Under RIE II

Regardless of your age on the Issue Date, on each Account Anniversary prior to your Annuity Commencement Date, we will automatically step-up your Withdrawal Benefit Base and your RIE II Bonus Base, provided that you satisfy certain requirements. First, you must meet eligibility requirements:

• Your Account Value must equal no more than $5,000,000. (For purposes of determining the $5,000,000 limit, we reserve the right, in our sole discretion, to aggregate your Account Value with the account values of all other variable annuity contracts you own issued by Delaware Life or its affiliates.)

• Your highest quarter-end Account Value (adjusted for subsequent Purchase Payments and withdrawals) during the most recent Account Year (“Highest Quarterly Value”) must be greater than your current Withdrawal Benefit Base (adjusted for any applicable 7% bonus increases).

Second, if you satisfy the eligibility requirements, we then consider whether market conditions have caused us to increase the percentage rate used to calculate the RIE II Fee.

• If we have not had to increase the percentage rate as described above, the percentage rate we use to calculate your RIE II Fee will remain unchanged and we will automatically step-up your Withdrawal Benefit Base and your RIE II Bonus Base

• If we have had to increase the percentage rate as described above, we offer you the opportunity to step-up at the higher percentage rate. In this case, your written consent is required to accept the higher percentage rate used to calculate your RIE II Fee and step-up your Withdrawal Benefit Base and RIE II Bonus Base. If you do not consent to the step-up and higher percentage, the step-up will not be implemented and all subsequent step-ups of your Withdrawal Benefit Base and RIE II Bonus Base will also be suspended. You may thereafter submit an election form to us, however, in order to consent to the then-applicable percentage rate and thus reactivate subsequent automatic step-ups.

At the time of step-up, we will increase your Withdrawal Benefit Base and RIE II Bonus Base to an amount equal to the Highest Quarterly Value, if such amount exceeds your current Withdrawal Benefit Base (adjusted for any applicable 7% bonus increases). If the step-up occurs during the RIE II Bonus Period, your RIE II Bonus Period will renew for another 10-year period commencing at the time of step-up.

If your Lifetime Withdrawal Percentage has already been determined and your age at the time of step-up coincides with a higher percentage as shown in the applicable table below, your Lifetime Withdrawal Percentage will increase. After the step-up, your Annual Withdrawal Amount will be your Lifetime Withdrawal Percentage multiplied by your

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new Withdrawal Benefit Base. If you purchased your Contract on or after February 17, 2009, your Lifetime Withdrawal Percentage is determined, based upon your age at time of step-up, as follows:

Your Age at Step-up*	Lifetime Withdrawal Percentage
59 - 64	4%
65 - 74	5%
75 - 79	6%
80 or older	7%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage” in this Appendix.

If you purchased your Contract prior to February 17, 2009, your Lifetime Withdrawal Percentage is determined, based upon your age at time of step-up, as follows:

Your Age at Step-up*	Lifetime Withdrawal Percentage
59 - 69	5%
70 - 79	6%
80 or older	7%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage” in this Appendix.

Here are examples of how step-up works under a few different circumstances. In each of the four examples, Account Values shown are as of the last day of each Account Quarter. Adjustments are made on the day a Purchase Payment or withdrawal is made. All four examples assume that the Contract was purchased on or after February 17, 2009.

Assume that you are 65 years old when you purchase a Contract with an initial Purchase Payment of $100,000, and that you elect to participate in RIE II with single-life coverage. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Withdrawal Benefit Base and your RIE II Bonus Base are each equal to your initial Purchase Payment. Your Annual Withdrawal Amount is $5,000 (5% of your Withdrawal Benefit Base).

The Account Values on each of your four Account Quarters are $113,000, $108,000, $90,000, and $103,000, respectively. No additional Purchase Payments are made and no withdrawals are taken, so no adjustments to these values are necessary. The highest adjusted quarterly value is $113,000. Your new Withdrawal Benefit Base is set to equal to $113,000 since that amount exceeds your previous Withdrawal Benefit Base increased by 7% of your RIE II Bonus Base ($100,000 + $7,000).

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Withdrawal Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		n/a		$113,000		$100,000
End of Second Quarter	$108,000		n/a		$108,000		$100,000
End of Third Quarter	$90,000		n/a		$90,000		$100,000
End of Fourth Quarter (before step-up)	$103,000		n/a		$103,000		$100,000
Highest Quarterly Value (after adjustments)				$	113,000

Step-up comparison	Is $113,000 greater than $100,000 + $7,000? Yes, so step-up.
On the Account Anniversary (after step-up)
New Withdrawal Benefit Base =	$113,000	Highest Quarterly Value (after adjustments)
New Annual Withdrawal Amount =	$5,650	$113,000 x 5%
New RIE II Bonus Base =	$113,000

Please note: The end of the fourth Account Quarter and the Account Anniversary are the same day. We only make the distinction to separate values before and after step-up.

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If you make an additional Purchase Payment during your first Account Year, your Account Value, your Withdrawal Benefit Base, and your RIE II Bonus Base are each immediately increased by the amount of the additional Purchase Payment.

Here is an example of how an additional Purchase Payment of $50,000 made in the first Account Quarter would affect your step-up:

Time	Account Value		Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Withdrawal Benefit Base
Issue	$	100,000		n/a		n/a	$	100,000
End of First Quarter	$	113,000		$50,000		$163,000	$	100,000
$50,000 Purchase Payment	$	163,000		n/a		n/a	$	150,000
End of Second Quarter	$	158,000		n/a		$158,000	$	150,000
End of Third Quarter	$	140,000		n/a		$140,000	$	150,000
End of Fourth Quarter (before step-up)	$	153,000		n/a		$153,000	$	150,000
Highest Quarterly Value (after adjustments)					$	163,000

Step-up comparison	Is $163,000 greater than $150,000 + $10,500? Yes, so step-up.
On the Account Anniversary (after step-up)
New Withdrawal Benefit Base =	$163,000	Highest Quarterly Value (after adjustments)
New Annual Withdrawal Amount =	$8,150	$163,000 x 5%
New RIE II Bonus Base =	$163,000

Please note: Since the additional Purchase Payment occurred after the first Account Quarter, the first Account Quarter value was adjusted.

Here is an example of how a $4,000 withdrawal taken in the second Account Quarter would affect your step-up:

Time	Account Value		Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Withdrawal Benefit Base
Issue	$	100,000		n/a		n/a	$	100,000
End of First Quarter	$	113,000		- $4,000		$109,000	$	100,000
$4,000 withdrawal	$	109,000		n/a		n/a	$	100,000
End of Second Quarter	$	104,000		n/a		$104,000	$	100,000
End of Third Quarter	$	86,000		n/a		$86,000	$	100,000
End of Fourth Quarter (before step-up)	$	99,000		n/a		$99,000	$	100,000
Highest Quarterly Value (after adjustments)					$	109,000

Step-up comparison	Is $109,000 greater than $100,000 + $0 (no bonus since withdrawal taken)? Yes, so step-up.
On the Account Anniversary (after step-up)
New Withdrawal Benefit Base =	$109,000	Highest Quarterly Value (after adjustments)
New Annual Withdrawal Amount =	$5,450	$109,000 x 5%
New RIE II Bonus Base =	$109,000

Please note: Since the withdrawal occurred after the first Account Quarter, the first Account Quarter value was adjusted.

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Assume instead you take a $40,000 withdrawal in the second Account Quarter at a point when the Account Value equaled $99,000 immediately before the withdrawal. Since this withdrawal exceeds your Annual Withdrawal Amount, it is considered an Excess Withdrawal. The Excess Withdrawal reduces your Withdrawal Benefit Base and your RIE II Bonus Base as described under “Excess Withdrawals” in this Appendix. All previous quarter-end Account Values are first reduced by the Annual Withdrawal Amount less any prior withdrawals taken in that Account Year and then adjusted in the same proportion that the Withdrawal Benefit Base was adjusted after the Excess Withdrawal. (See the two-step calculation shown in the box below the following example.)

Time	Account Value		Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Withdrawal Benefit Base
Issue	$	100,000		n/a		n/a	$	100,000
End of First Quarter	$	113,000		- $45,213		$67,787	$	100,000
$40,000 withdrawal	$	59,000		n/a		n/a	$	62,766
End of Second Quarter	$	68,000		n/a		$68,000	$	62,766
End of Third Quarter	$	50,000		n/a		$50,000	$	62,766
End of Fourth Quarter (before step-up)	$	63,000		n/a		$63,000	$	62,766
Highest Quarterly Value (after adjustments)					$	68,000

Step-up comparison	Is $68,000 greater than $62,766 + $0 (no bonus since withdrawal taken)? Yes, so step-up.
On the Account Anniversary (after step-up)
New Withdrawal Benefit Base =	$68,000	Highest Quarterly Value (after adjustments)
New Annual Withdrawal Amount =	$3,400	$68,000 x 5%
New RIE II Bonus Base =	$68,000

(1)   Reduce the end of First Quarter Account Value by the Annual Withdrawal Amount less any less any prior withdrawals taken in that Account Year	=	$113,000	-	$5,000		=	$108,000
(2)   Adjust the Account Value for the first Account Quarter	=	$108,000 x	(	$99,000 - $40,000	)	=	$67,787
				$99,000 - $5,000
The total adjustment	=	$113,000	-	$67,787		=	$45,213

All of the above examples assume that you are age 65 at issue, so your Lifetime Withdrawal Percentage is 5%. Assume instead you are age 74 at issue and have attained age 75 on your first Account Anniversary. Follow the first example where no withdrawals were taken and no additional Purchase Payments were made. When your Withdrawal Benefit Base steps-up to $113,000, your new Lifetime Withdrawal Percentage is 6% since you had attained age 75 by your first Account Anniversary. Your Annual Withdrawal Amount is now $6,780.

Joint-Life Coverage

On the Issue Date, you have the option of electing RIE II with single-life coverage or, for a higher RIE II Fee, with joint-life coverage. Once you make the election, you cannot switch between joint-life and single-life coverage, regardless of any change in life events. Joint-life coverage is not available if you are unmarried on the Issue Date.

Joint-life coverage can be elected on an individually-owned Contract or on a co-owned Contract. On an individually-owned Contract, joint-life coverage is available only if your spouse is the sole primary beneficiary on the Issue Date and remains the sole primary beneficiary while RIE II is in effect. On a co-owned Contract, joint-life coverage is available only if you and your spouse are the only co-owners on the Issue Date and remain so while RIE II is in effect.

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Whereas single-life coverage provides annual withdrawals under RIE II only until any Participant dies, joint-life coverage provides annual withdrawals under RIE II for as long as either you or your spouse is alive. (Note, however, upon the death of a spouse, the Contract, including RIE II, ends. To take annual withdrawals under RIE II’s joint-life feature after the death of a spouse, the surviving spouse must first elect to continue the Contract through the “Spousal Continuance” provision.) See also “Death of Participant Under RIE II with Joint-Life Coverage” in this Appendix.

If you have elected joint-life coverage, the RIE II Coverage Date will be your Issue Date if the younger spouse is at least age 59 on the Issue Date, and will be the first Account Anniversary after the younger spouse attains (or would have attained) age 59 if the younger spouse is less than age 59 on the Issue Date. (For purposes of joint-life coverage, the younger spouse refers to the person who was the younger spouse on the Issue Date, even if that person has died or is no longer married to the person who was his or her spouse on the Issue Date.) Thus, Early Withdrawals will be determined based upon this definition of your RIE II Coverage Date. Your Lifetime Withdrawal Percentage will be determined based on the age that the younger spouse is (or would have been) on the date of the first withdrawal under the Contract after the RIE II Coverage Date, as shown in the tables below. If you purchased your Contract on or after February 17, 2009, your Lifetime Withdrawal Percentage is determined, as follows:

Age of Younger Spouse on Date of the First Withdrawal After Your RIE II Coverage Date	Lifetime Withdrawal Percentage
59 - 64	4%
65 - 74	5%
75 - 79	6%
80 or older	7%

If you purchased your Contract prior to February 17, 2009, your Lifetime Withdrawal Percentage is determined, as follows:

Age of Younger Spouse on Date of First Withdrawal After Your RIE II Coverage Date	Lifetime Withdrawal Percentage
59 - 69	5%
70 - 79	6%
80 or older	7%

Your Annual Withdrawal Amount equals your Withdrawal Benefit Base multiplied by your Lifetime Withdrawal Percentage. Once your Annual Withdrawal Amount is calculated, the Lifetime Withdrawal Percentage will not change except if a step-up occurs as described under “Step-Up Under RIE II” in this Appendix. The Lifetime Withdrawal Percentage will then be reset, if higher, to the percentage for then attained age of the younger spouse.

The two spouses on the Issue Date are the only two people covered under the joint-life feature. If a Participant remarries, the new spouse is not covered under the joint-life feature. Therefore, if the spouse on the Issue Date is no longer your spouse, RIE II benefits continue for your life and, when you die, annual withdrawals are no longer available. Note that, when you elect joint-life coverage, you also elect the higher joint-life fee. That fee will not change as long as RIE II is in effect, regardless of any change in life events.

If one spouse is significantly younger than the other spouse, you should carefully consider whether joint-life coverage is an appropriate choice in light of the possibility of a longer waiting period before withdrawals under RIE II can be made and in light of the higher fee for joint-life coverage.

Joint-life coverage may not be available on all Contracts.

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Cancellation of RIE II

Should you decide that RIE II is no longer appropriate for you, you may cancel RIE II at any time. Upon cancellation, all benefits and charges under RIE II shall cease. Once cancelled, RIE II cannot be reinstated.

Although transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached, RIE II will be cancelled automatically:

• if any Purchase Payment is allocated to an investment option other than a Designated Fund; or

• if any portion of Account Value maintained in a Designated Fund is transferred into an investment option other than a Designated Fund.

RIE II will also be cancelled for any of the following:

• upon a termination of the Contract;

• upon annuitization*; or

• your Withdrawal Benefit Base is reduced to zero as a result of Early or Excess Withdrawals.

* Note that the Maximum Annuity Commencement Date permitted under this Contract is the first day of the month following the Annuitant’s 95^th birthday. See “Selection of Annuity Commencement Date” under “THE INCOME PHASE - ANNUITY PROVISIONS” in the prospectus to which this Appendix is attached.

A change of ownership of the Contract may also cancel your benefits under RIE II.

Death of Participant Under RIE II with Single-Life Coverage

If you selected single-life coverage, RIE II terminates on the death of any Participant and the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract.

Death of Participant Under RIE II with Joint-Life Coverage

If the surviving spouse on the Death Benefit Date was not the spouse of a Participant on the original Contract’s Issue Date, then this section does not apply, even if joint-life coverage was elected. In such case, if a Participant dies while participating in RIE II, the provisions of the section titled “Death of Participant Under RIE II with Single-Life Coverage” will apply.

If you purchased joint-life coverage and one of the Participants dies, RIE II will continue, provided that the surviving spouse, as the sole primary beneficiary, continues the Contract. In such case:

• the new Account Value will be equal to the Death Benefit;

• the RIE II Fee for the joint-life coverage option will continue for the surviving spouse as it was immediately prior to the death of the Participant;

• the Withdrawal Benefit Base and the RIE II Bonus Base will remain unchanged until the next Account Anniversary when a step-up could apply due to an increase in Account Value (see “Step-Up Under RIE II” in this Appendix);

• if withdrawals under RIE II have not yet begun, the Lifetime Withdrawal Percentage will be based on the age the younger spouse attains (or would have attained) on the date of the first withdrawal after the RIE II Coverage Date;

• if withdrawals under RIE II have already begun, the Lifetime Withdrawal Percentage will be the Lifetime Withdrawal Percentage that applied to the Contract prior to the death of the Participant; and

• the RIE II Bonus Period will continue unchanged from the original contract.

At the death of the surviving spouse, the Contract, including RIE II, will terminate.

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If you purchased joint-life coverage and the deceased Participant’s surviving spouse does not continue the Contract, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Annuitization Under RIE II

Under the terms of RIE II, if your Account Value is greater than zero on your Maximum Annuity Commencement Date, you may elect to:

(1) surrender your Contract and receive your Cash Surrender Value,

(2) annuitize your Account Value under one of the then currently available Annuity Options, or

(3) annuitize your remaining Account Value as a single-life annuity (or a joint-life annuity, if joint-life coverage was elected at issue and is still eligible) with an annualized annuity payment of not less than your then current Annual Withdrawal Amount.

If you make no election, we will default your choice to option 3.

If your Account Value has been reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Withdrawal Benefit Base is greater than zero on or before your Maximum Annuity Commencement Date, you will receive your full Annual Withdrawal Amount until you die. For a more complete discussion of this, see “Depleting Your Account Value” in this Appendix.

Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as RIE II. If you elected to participate in RIE II, we will inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit. To assist you in complying with the RMD requirements, each year, we will notify you in early January of your calculated Yearly RMD Amount and inform you that you may withdraw annual amounts up to your Yearly RMD Amount without reducing your guaranteed withdrawal benefit.

In the event that your Yearly RMD Amount attributable to your Contract is greater than the maximum withdrawal amount permitted each year under RIE II, we are currently waiving withdrawal provisions as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in RIE II, we reduce your Account Value dollar for dollar by the amount of the withdrawal. In addition, for that year only, your Annual Withdrawal Amount under RIE II will be reduced, dollar for dollar, by the amount of the withdrawal. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than your Annual Withdrawal Amount. In other words, we will not reduce your Annual Withdrawal Amount for future years (or your Withdrawal Benefit Base or Bonus Base), if a Yearly RMD Amount exceeds your Annual Withdrawal Amount, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

Currently, any withdrawal in excess of the Annual Withdrawal Amount that is taken to satisfy the Yearly RMD Amounts will not be treated as an Excess Withdrawal, and will not reduce the Withdrawal Benefit Base. However, if there is any material change to the current Code or IRS Rules governing the timing or determination of required minimum distribution amounts, then the Company reserves the right to treat any withdrawal greater than the Annual Withdrawal Amount as an Excess Withdrawal which may significantly reduce the Withdrawal Benefit Base.

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

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APPENDIX P - Income ON Demand^® II Escalator

The optional living benefit known as Income ON Demand II Escalator (“IOD II Escalator”) was available on Contracts purchased on or after October 20, 2008, and prior to August 17, 2009, and on certain limited Contracts purchased on or after August 17, 2009. If you elected to participate in IOD II Escalator, the following information applies to your Contract. IOD II Escalator is no longer available for sale on new Contracts.

If you purchased your Contract prior to February 17, 2009, and elected to participate in IOD II Escalator, your Lifetime Income Percentage (defined below) is different from the Lifetime Income Percentage available on Contracts purchased on or after that date. (See “Determining Your Annual Income Amount,” “Step-Up Under IOD II Escalator,” and “Joint-Life Coverage” in this Appendix.) In addition, unless you “step-up” as described under “Step-Up Under IOD II Escalator,” the fee charged for IOD II Escalator is lower than the fee charged on Contracts purchased on or after February 17, 2009. (See “Cost of IOD II Escalator” in this Appendix.)

To describe how IOD II Escalator works, we use the following definitions:

Annual Income Amount:	The amount added to your Stored Income Balance on each Account Anniversary during your Stored Income Period. It is equal to your Income Benefit Base multiplied by your Lifetime Income Percentage.
Early Withdrawal:	Any withdrawal taken prior to your First Withdrawal Date.
Excess Withdrawal:	Any withdrawal taken after your First Withdrawal Date that exceeds your Stored Income Balance (or your Required Minimum Distribution Amount, if greater).
Fee Base:	The amount used to calculate your “IOD II Escalator Fee” (see “Cost of IOD II Escalator”).
First Withdrawal Date:	Your Issue Date if you are at least age 59 at issue, otherwise the first Account Anniversary after you attain age 59.
Income Benefit Base:	The amount used to calculate your Annual Income Amount for IOD II Escalator.
Lifetime Income Percentage:	The percentage used to calculate your Annual Income Amount.
Stored Income Balance:	The amount you may withdraw at any time after your First Withdrawal Date without reducing your benefits under IOD II Escalator.
Stored Income Period:	A period beginning on your Issue Date if you are at least age 50 at issue, otherwise the first Account Anniversary following your 50th birthday, ending on your Annuity Commencement Date.
You and Your:	The terms “you” and “your” refer to the oldest living Participant or the surviving spouse of the oldest Participant, as described under “Death of Participant Under IOD II Escalator with Joint-Life Coverage.” In the case of a non-natural Participant, these terms refer to the oldest living Annuitant.

Upon annuitization, IOD II Escalator and any elected optional death benefit automatically terminate.

IOD II Escalator allows you to withdraw a guaranteed amount each year, beginning after your First Withdrawal Date, until the death of any Participant if single-life coverage is elected (or until the death of both the Participant and the Participant’s spouse if joint-life coverage is elected), regardless of the investment performance of the Designated Funds, provided that you comply with certain requirements. The guaranteed annual amount you can withdraw, in any one year, can be 4%, 5%, 6%, or 7% of your Income Benefit Base depending upon your age. Any amount that you do not withdraw in a given year will remain in the Stored Income Balance and can be withdrawn at any time in the future. If you are participating in IOD II Escalator, you may make Purchase Payments only during your first Account Year. After the first Account Anniversary, any Purchase Payments you submit will be returned to you.

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To participate in IOD II Escalator, all of your Account Value must be invested only in Designated Funds at all times during the term of IOD II Escalator. (The term of IOD II Escalator is for life, unless your Income Benefit Base is reduced to zero or your benefits under IOD II Escalator are terminated or cancelled as described under “Cancellation of IOD II Escalator,” “Depleting Your Account Value,” and “Annuitization Under IOD II Escalator” in this Appendix.) The only Funds, dollar-cost averaging program options, and asset allocation models that currently qualify as Designated Funds are listed in the section entitled “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

You also had the option of choosing between single-life coverage and joint-life coverage. These options are described in greater detail under “Joint-Life Coverage” and the sections entitled “Death of Participant Under IOD II Escalator with Single-Life Coverage” and “Death of Participant Under IOD II Escalator with Joint-Life Coverage” in this Appendix.

Determining Your Income Benefit Base

On the Issue Date, we set your Income Benefit Base equal to your initial Purchase Payment. Thereafter, your Income Benefit Base is:

• increased on each Account Anniversary by any step-ups as described in this Appendix under “Step-Up Under IOD II Escalator”;

• increased to the extent that you exercise your one-time option to use any amount of your Stored Income Balance to increase your Income Benefit Base, as described below under “How IOD II Escalator Works”;

• increased by any subsequent Purchase Payments you make during the first year following the Issue Date;

• decreased following any Early Withdrawals you take, as described under “Early Withdrawals” in this Appendix; and

• decreased following any Excess Withdrawals you take, as described under “Excess Withdrawals” in this Appendix.

Determining Your Annual Income Amount

Your Annual Income Amount is first determined at the beginning of your Stored Income Period and then on each subsequent Account Anniversary. Your Annual Income Amount is equal to your Income Benefit Base multiplied by your Lifetime Income Percentage. The Lifetime Income Percentage depends upon your age at the beginning of your Stored Income Period as shown in the tables below. If you purchased your Contract on or after February 17, 2009, your Lifetime Income Percentage is determined, as follows:

Your Age at the Beginning of Your Stored Income Period*	Lifetime Income Percentage
50 - 64	4%
65 - 74	5%
75 - 79	6%
80 or older	7%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage” in this Appendix.

If you purchased your Contract prior to February 17, 2009, your Lifetime Income Percentage is determined, as follows:

Your Age at the Beginning of Your Stored Income Period*	Lifetime Income Percentage
50 - 69	5%
70 - 79	6%
80 or older	7%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage” in this Appendix.

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Your Lifetime Income Percentage will only increase if your age at the time of step-up coincides with a higher percentage as shown in the tables above. (See “Step-Up Under IOD II Escalator” in this Appendix.) An increase in the Lifetime Income Percentage will increase your Annual Income Amount.

Your Annual Income Amount will also change with any change to your Income Benefit Base as described above under “Determining Your Income Benefit Base.”

Determining Your Stored Income Balance

At the beginning of the Stored Income Period, your Stored Income Balance will equal your Annual Income Amount (your Lifetime Income Percentage multiplied by your Income Benefit Base on that Date). Thereafter, your Stored Income Balance is:

• increased by your Lifetime Income Percentage multiplied by any subsequent Purchase Payments you make during the first year following the Issue Date;

• increased on each Account Anniversary by your Annual Income Amount determined on that Anniversary;

• decreased by the amount of any withdrawals you take, on or after your First Withdrawal Date, up to the amount of your Stored Income Balance;

• decreased to $0 if you take an Excess Withdrawal;

• decreased in proportion to the change in your Account Value if you take an Early Withdrawal; and

• decreased by the amount you use in exercising your one-time option to increase your Income Benefit Base (described below under “How IOD II Escalator Works”).

How IOD II Escalator Works

Under the terms of IOD II Escalator, you can take withdrawals up to the amount of your Stored Income Balance beginning on your First Withdrawal Date, subject to the terms and conditions discussed below. You can use all or a portion of your Stored Income Balance to effect a one-time increase of your Income Benefit Base prior to your Annuity Commencement Date. IOD II Escalator also provides the opportunity to increase your Annual Income Amount if your Lifetime Income Percentage increases as you grow older. (Your Lifetime Income Percentage will only increase if you step-up after you reach certain specified ages.) If your Account Value is reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Income Benefit Base is greater than zero, you will receive your full Annual Income Amount every year until you die.

Withdrawals from your Stored Income Balance can be taken at any time beginning on your First Withdrawal Date and prior to your Annuity Commencement Date without affecting your Income Benefit Base. If, beginning on your First Withdrawal Date, you make a withdrawal that does not exceed your Stored Income Balance:

• your Stored Income Balance will be decreased by the amount withdrawn; and

• the withdrawal will not be subject to withdrawal charges.

You also have the option to use all or a portion of your Stored Income Balance to increase your Income Benefit Base. This option allows you to increase your future Annual Income Amount. While your Contract is in force, you may exercise this option only once and you must do so prior to your Annuity Commencement Date. If you choose to use any portion of your Stored Income Balance to increase your Income Benefit Base:

• your Stored Income Balance will be decreased by the amount used;

• the amount of your Stored Income Balance used will be added to your Income Benefit Base; and

• your new Annual Income Amount on your next Account Anniversary will equal your Lifetime Income Percentage multiplied by your new Income Benefit Base.

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Here is an example of how IOD II Escalator works. These examples assume that your Contract was purchased on or after February 17, 2009.

Assume that you are age 65 when your Contract is issued with an initial Purchase Payment of $100,000. Assume you elected to participate in IOD II Escalator with single-life coverage and investment performance of the Designated Funds is constant over the years. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment on your Issue Date. Your Lifetime Income Percentage is 5%. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). Therefore, $5,000 will be added each year to your Stored Income Balance. All values shown are as of the beginning of the Account Year.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
1	$100,000	$100,000	$5,000	$0	$5,000
2	$100,000	$100,000	$5,000	$0	$10,000
3	$100,000	$100,000	$5,000	$0	$15,000
4	$100,000	$100,000	$5,000	$0	$20,000

During your fifth Account Year, you use the full amount of your Stored Income Balance ($25,000) to increase your Income Benefit Base. On your next Account Anniversary, your Income Benefit Base will be increased to $125,000 and your Annual Income Amount will be $6,250 (your Lifetime Income Percentage multiplied by your Income Benefit Base). Therefore $6,250 will be added each year to your Stored Income Balance unless your Annual Income Amount changes.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$100,000	$5,000	$0	$25,000
6	$100,000	$125,000	$6,250	$0	$6,250
7	$100,000	$125,000	$6,250	$0	$12,500
8	$100,000	$125,000	$6,250	$0	$18,750

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Assume instead that, during your fifth Account Year, you take a withdrawal of $25,000, thereby reducing your Stored Income Balance to $0. On your next Account Anniversary, your Income Benefit Base will remain at $100,000 and your Annual Income Amount remains at $5,000 (your Lifetime Income Percentage multiplied by your Income Benefit Base). Therefore $5,000 will be added each year to your Stored Income Balance unless your Annual Income Amount changes.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$100,000	$5,000	$25,000	$0
6	$75,000	$100,000	$5,000	$0	$5,000
7	$75,000	$100,000	$5,000	$0	$10,000
8	$75,000	$100,000	$5,000	$0	$15,000

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Early Withdrawals and Excess Withdrawals may significantly decrease, and even terminate, your benefits under IOD II Escalator, including reducing your Account Value to zero and thereby terminating your Contract without value, as described further below under “Withdrawals Under IOD II Escalator.” Even if your Stored Income Period has begun, withdrawals prior to your First Withdrawal Date are considered Early Withdrawals. Investing in any Fund, other than a Designated Fund, will cancel IOD II Escalator as described under “Cancellation of IOD II Escalator” in this Appendix.

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Withdrawals Under IOD II Escalator

Withdrawals After Your First Withdrawal Date

Starting on your First Withdrawal Date and continuing to your Annuity Commencement Date you may take annual withdrawals up to your Stored Income Balance without reducing your Annual Income Amount. These withdrawals will reduce your Stored Income Balance by the full amount of the withdrawal, but will not change your Income Benefit Base. This is shown in the previous example.

Withdrawals taken after your First Withdrawal Date and during the withdrawal charge period permitted under your Contract are subject to withdrawal charges only to the extent they are in excess of the greatest of:

• the free withdrawal amount permitted under your Contract;

• your Stored Income Balance; or

• your Yearly Required Minimum Distribution Amount (subject to conditions discussed under “Certain Tax Provisions” in this Appendix).

Excess Withdrawals

If you take an Excess Withdrawal, your Income Benefit Base will be reduced according to the following formula:

Your new Income Benefit Base	=	IBB x	(	AV - WD	)
				AV - SB

Where:
	IBB	=	Your Income Benefit Base immediately prior to the Excess Withdrawal.
	WD	=	The amount of the Excess Withdrawal.
	SB	=	Your Stored Income Balance (or your Required Minimum Distribution Amount, if greater) immediately prior to the Excess Withdrawal.
	AV	=	Your Account Value immediately prior to the Excess Withdrawal.

Your Annual Income Amount will be recalculated based on the reduced Income Benefit Base. Here is an example of an Excess Withdrawal:

Using the same facts as the previous example, assume that in your fifth Account Year you take a withdrawal of $50,000, exceeding your Stored Income Balance. Assume that due to poor investment performance during the fifth Account Year your Account Value was $90,000 immediately prior to the withdrawal. Your Income Benefit Base will be reduced to $61,538 as shown below.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$100,000	$5,000	$50,000	$0
6	$50,000	$61,538	$3,077	$0	$3,077
7	$50,000	$61,538	$3,077	$0	$6,154
8	$50,000	$61,538	$3,077	$0	$9,231

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Your new Income Benefit Base	=	$	100,000 x	(	$90,000 -  $50,000	)	=	$	61,538
					$90,000 - $25,000

Excess Withdrawals taken in a down market could severely reduce, and even terminate, your benefits under IOD II Escalator, including reducing your Account Value to zero and thereby terminating your Contract without value.

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Early Withdrawals

All withdrawals taken before your First Withdrawal Date, including any “free withdrawal amounts” permitted under your Contract, will be considered Early Withdrawals and the Income Benefit Base and the Stored Income Balance will be reduced using the following formulas:

Your new Income Benefit Base	=	IBB x	(	AV - WD	)
				AV

Your new Stored Income Balance	=	SB x	(	AV - WD	)
				AV

Where:
	IBB	=	Your Income Benefit Base immediately prior to the Early Withdrawal.
	SB	=	Your Stored Income Balance immediately prior to the Early Withdrawal.
	WD	=	The amount of the Early Withdrawal.
	AV	=	Your Account Value immediately prior to the Early Withdrawal.

Your future Annual Income Amount will be recalculated based on the reduced Income Benefit Base.

In addition, Early Withdrawals will also be subject to withdrawal charges, to the extent that such withdrawals are in excess of the “free withdrawal amount” permitted under your Contract. Early Withdrawals could severely reduce, and even terminate, your benefits under IOD II Escalator, including reducing your Account Value to zero and thereby terminating your Contract without value.

In addition to reducing your benefits under IOD II Escalator, any withdrawal before your First Withdrawal Date could have state and federal income tax liability. You should consult a qualified tax professional for more information.

Depleting Your Account Value

If your Account Value is reduced to zero immediately following an Early Withdrawal or an Excess Withdrawal (as described above), then your Stored Income Balance and your Income Benefit Base will both be reduced to zero and your Contract will terminate without value. Therefore, your Contract, as well as any benefits available with IOD II Escalator, will end.

If your Account Value is reduced to zero through any combination of poor investment performance of the Designated Funds, Contract charges, and withdrawals other than Excess Withdrawals or Early Withdrawals, your Income Benefit Base will not be reduced. Your Contract will end. You will be entitled to receive annual payments equal to your Lifetime Income Percentage multiplied by your Income Benefit Base. Prior to determining your annual payments, you may increase your Income Benefit Base by any remaining Stored Income Balance as described below. These payments will continue for as long as you live. If you elected joint-life coverage, the payments will continue as long as either you or your spouse are alive as described in this Appendix under “Death of Participant Under IOD II Escalator with Joint-Life Coverage.” If you have any remaining Stored Income Balance on the day your Account Value is reduced to zero, you will be notified that, before you begin to receive your “annual lifetime payments,” you must deplete your Stored Income Balance by:

(a) withdrawing your remaining Stored Income Balance;

(b) applying the remaining amount of your Stored Income Balance to increase your Income Benefit Base (and thus the amount of your “annual lifetime payments”); or

(c) using a combination of (a) and (b).

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Because the Contract has ended, the amount of these annual lifetime payments will not change and they will not be subject to any withdrawal charges. You should be aware, however, that they could be subject to state and federal income tax liability. You should consult a qualified tax professional for more information.

Cost of IOD II Escalator

If you elect IOD II Escalator, we will deduct a quarterly fee from your Account Value (“IOD II Escalator Fee”). The IOD II Escalator Fee will be taken as a specific deduction from your Account Value on the last valuation day of each Account Quarter and will equal 0.2375 % of your Fee Base on that day, if you elected single-life coverage (0.2875% for joint-life coverage). On an annual basis, the IOD II Escalator Fee is equal to 0.95% of your Fee Base if you elected single-life coverage (1.15% for joint-life coverage).

If you purchased your Contract prior to February 17, 2009, your cost for IOD II Escalator was initially, on an annual basis, 0.80% of the highest Fee Base for single-life coverage (1.00% for joint-life coverage). Your cost for IOD II Escalator will not increase unless:

• you decide to step-up your Income Benefit Base, as described in this Appendix under “Step-Up Under IOD II Escalator,” and

• you consent in writing, at the time of step-up, to accept an increase in your IOD II Escalator Fee to 0.95% for single-life coverage (1.15% for joint-life coverage).

If you do not consent to the higher fee, the step-up will not be implemented and all subsequent step-ups will be suspended unless and until we receive your written consent to the higher fee.

During the first Account Year, your Fee Base is equal to your Income Benefit Base. On each Account Anniversary, the Fee Base is recalculated. Your new Fee Base will be reset to equal your Income Benefit Base plus your Stored Income Balance (if any) less your Annual Income Amount (if any) for that year if this recalculated amount is higher than your current Fee Base. In the event that the recalculated amount is not greater than your current Fee Base, we will continue to calculate your IOD II Escalator Fee based upon your current Fee Base until, at least, your next Account Anniversary. Note that, although your IOD II Escalator Fee may increase, it will never decrease.

For the most part, we calculate your Fee Base only on your Account Anniversary. However, we will recalculate your Fee Base between Account Anniversaries, if you take an Early Withdrawal or Excess Withdrawal or make additional Purchase Payments during your first Account Year.

If you take an Excess Withdrawal during your Stored Income Period, your Fee Base will be decreased by the following formula:

Your new Fee Base	=	Fee Base x	(	AV - WD	)
				AV - SB

If you take an Early Withdrawal, your Fee Base will be decreased by the following formula:

Your new Fee Base	=	Fee Base x	(	AV - WD	)
				AV

Where:
	Fee Base	=	Your Fee Base immediately prior to the Early/Excess Withdrawal.
	WD	=	The amount of the Early/Excess Withdrawal.
	SB	=	Your Stored Income Balance (if any) immediately prior to the Excess Withdrawal.
	AV	=	Your Account Value immediately prior to the Early/Excess Withdrawal.

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Any additional Purchase Payment you make during your first Account Year will increase your Income Benefit Base as described under “Determining Your Income Benefit Base” in this Appendix. Therefore, your Fee Base will increase by any additional Purchase Payments made.

Here is an example of how we calculate your Fee Base. The following examples assume that you purchased your Contract on or after February 17, 2009.

Assume that you are age 65 when your Contract is issued with an initial Purchase Payment of $100,000. Assume you elected to participate in IOD II Escalator with single-life coverage and investment performance of the Designated Funds is constant over the years. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment on your Issue Date. Your Lifetime Income Percentage is 5%. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). All values are shown as of the beginning of the Account Year unless otherwise shown.

During the Stored Income Period, the Fee Base is reset at the beginning of the Contract Year to equal your Income Benefit Base plus your Stored Income Balance less your Annual Income Amount, if that amount is greater than the previous Fee Base. For example, in Contract Year 4, the Fee Base is set equal to the Income Benefit Base ($100,000) plus the Stored Income Balance ($20,000) less your Annual Income Amount ($5,000) if that amount ($115,000) is greater than the previous Fee Base ($110,000).

Year	Income Benefit Base		Annual Income Amount		Stored Income Balance				Fee Base
					Beginning of year	Withdrawal Amount		End of year
1	$	100,000	$	5,000	$5,000	$	0	$5,000	$	100,000
2	$	100,000	$	5,000	$10,000	$	0	$10,000	$	105,000
3	$	100,000	$	5,000	$15,000	$	0	$15,000	$	110,000
4	$	100,000	$	5,000	$20,000	$	0	$20,000	$	115,000

Assume, instead, that in your fourth Account Year you take a $20,000 withdrawal. At the beginning of your fifth Account Year, your Income Benefit Base ($100,000) plus your Stored Income Balance ($5,000) less your Annual Income Amount ($5,000) is less than the current Fee Base ($115,000), so there is no change to the Fee Base, as shown below.

Year	Income Benefit Base		Annual Income Amount		Stored Income Balance				Fee Base
					Beginning of year	Withdrawal Amount		End of year
4	$	100,000	$	5,000	$20,000	$	20,000	$0	$	115,000
5	$	100,000	$	5,000	$5,000		$0	$5,000	$	115,000
6	$	100,000	$	5,000	$10,000		$0	$10,000	$	115,000
7	$	100,000	$	5,000	$15,000		$0	$15,000	$	115,000
8	$	100,000	$	5,000	$20,000		$0	$20,000	$	115,000
9	$	100,000	$	5,000	$25,000		$0	$25,000	$	120,000

On each Account Anniversary thereafter, your Fee Base is recalculated and reset if necessary.

Your IOD II Escalator Fee will not change during an Account Year, unless you take one of two specific actions:

• If you make an additional Purchase Payment during your first Account Year, you will increase your Fee Base and thus your IOD II Escalator Fee.

• If you make an Early Withdrawal or an Excess Withdrawal, you will decrease your Fee Base and thus your IOD II Escalator Fee.

In addition, on your Account Anniversary, the IOD II Escalator Fee may also change, if we increase the percentage used to calculate the IOD II Escalator Fee as described below under “Step-Up Under IOD II Escalator.”

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The investment performance of the Designated Funds will not affect your IOD II Escalator Fee during an Account Year. However, as stated below under “Step-Up Under IOD II Escalator,” favorable investment performance may cause the Income Benefit Base to increase on an Account Anniversary, and thus increase your IOD II Escalator Fee.

We will continue to deduct the IOD II Escalator Fee until you annuitize your Contract, your Account Value reduces to zero, or your benefits under IOD II Escalator are cancelled as described under “Cancellation of IOD II Escalator” in this Appendix.

Step-Up Under IOD II Escalator

Regardless of your age on the Issue Date, on each Account Anniversary prior to your Annuity Commencement Date, we will automatically step-up your Income Benefit Base, provided that you satisfy certain requirements. First, you must meet eligibility requirements:

• Your Account Value less your Stored Income Balance must equal no more than $5,000,000. (For purposes of determining the $5,000,000 limit, we reserve the right, in our sole discretion, to aggregate your Account Value with the account values of all other variable annuity contracts you own issued by Delaware Life or its affiliates.)

• Your highest quarter-end Account Value (adjusted for subsequent purchase payments and withdrawals) during the most recent Account Year (“Highest Quarterly Value”) minus your Stored Income Balance must be greater than your current Income Benefit Base. (If you have not yet reached your Stored Income Period and therefore do not yet have a Stored Income Balance, your highest quarter-end Account Value must only be greater than your current Income Benefit Base.)

Second, if you satisfy the eligibility requirements, we then consider whether market conditions have caused us to increase the percentage rate used to calculate the IOD II Escalator Fee.

• If we have not had to increase the percentage rate as described above, the percentage rate we use to calculate your IOD II Escalator Fee will remain unchanged and we will automatically step-up your Income Benefit Base.

• If we have had to increase the percentage rate as described above, we offer you the opportunity to step-up at the higher percentage rate. In this case, your written consent is required to accept the higher percentage rate used to calculate your IOD II Escalator Fee and step-up your Income Benefit Base. If you do not consent to the step-up and higher percentage, the step-up will not be implemented and all subsequent step-ups of your Income Benefit Base will also be suspended. You may thereafter submit an election form to us, however, in order to consent to the then-applicable percentage rate and thus reactivate subsequent automatic step-ups.

At the time of step-up, we will increase your Income Benefit Base to an amount equal to the highest adjusted quarterly Account Value less your Stored Income Balance, if any, provided that such amount exceeds your current Income Benefit Base.

Your Lifetime Income Percentage will increase if your age at the time of step-up coincides with a higher percentage as shown below. After the step-up, your Annual Income Amount will be your Lifetime Income Percentage multiplied by your new Income Benefit Base. If you purchased your Contract on or after February 17, 2009, your Lifetime Income Percentage is determined, based upon your age at time of step-up, as follows:

Your Age at Step-up*	Lifetime Income Percentage
50 - 64	4%
65 - 74	5%
75 - 79	6%
80 or older	7%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage” in this Appendix.

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If you purchased your Contract prior to February 17, 2009, your Lifetime Income Percentage is determined, based upon your age at time of step-up, as follows:

Your Age at Step-up*	Lifetime Income Percentage
50 - 69	5%
70 - 79	6%
80 or older	7%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described under “Joint-Life Coverage” in this Appendix.

Here are examples of how step-up works under a few different circumstances. All four examples assume that the Contract was purchased on or after February 17, 2009.

Assume that you are 65 years old when you purchase a Contract with an initial Purchase Payment of $100,000, and that you elect to participate in IOD II Escalator with single-life coverage. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). Your initial Stored Income Balance is $5,000.

In each of the four examples, Account Values shown are as of the last day of each Account Quarter. Adjustments are made on the day a Purchase Payment or withdrawal is made.

The Account Values on each of your four Account Quarters are $113,000, $108,000, $90,000, and $103,000, respectively. No additional Purchase Payments are made and no withdrawals are taken, so no adjustments to these values are necessary. Your Stored Income Balance at the end of the fourth Account Quarter is $5,000. The highest adjusted quarterly value is $113,000. Your new Income Benefit Base is set to equal $108,000 ($113,000 - $5,000) since that amount exceeds your previous Income Benefit Base.

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		n/a		$113,000		$100,000
End of Second Quarter	$108,000		n/a		$108,000		$100,000
End of Third Quarter	$90,000		n/a		$90,000		$100,000
End of Fourth Quarter (before step-up)	$103,000		n/a		$103,000		$100,000
Highest Quarterly Value (after adjustments)				$	113,000
Stored Income Balance at end of fourth quarter			$5,000

Step-up comparison	Is ($113,000 - $5,000) greater than $100,000? Yes, so step-up.
On the Account Anniversary (after step-up)
New Income Benefit Base =	$108,000	Highest Quarterly Value (after adjustments) less the Stored Income Balance.
New Annual Income Amount =	$5,400	$108,000 x 5%
New Stored Income Balance =	$10,400	Stored Income Balance at the end of the fourth Account Quarter plus the new Annual Income Amount.

Please note: The end of the fourth Account Quarter and the Account Anniversary are the same day. We only make the distinction to separate values before and after step-up.

If you make an additional Purchase Payment during your first Account Year, your Account Value and your Income Benefit Base are each immediately increased by the amount of the additional Purchase Payment. Your Stored Income Balance is increased by 5% of the additional Purchase Payment.

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Here is an example of how an additional Purchase Payment of $50,000 made in the second Account Quarter would affect your step-up:

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		$50,000		$163,000		$100,000
$50,000 Purchase Payment	$163,000		n/a		n/a		$150,000
End of Second Quarter	$158,000		n/a		$158,000		$150,000
End of Third Quarter	$140,000		n/a		$140,000		$150,000
End of Fourth Quarter (before step-up)	$153,000		n/a		$153,000		$150,000
Highest Quarterly Value (after adjustments)				$	163,000
Stored Income Balance at end of fourth quarter			$7,500 (initial $5,000 plus 5% x $50,000)

Step-up comparison	Is ($163,000 - $7,500) greater than $150,000? Yes, so step-up.
On the Account Anniversary (after step-up)
New Income Benefit Base =	$155,500	Highest Quarterly Value (after adjustments) less the Stored Income Balance.
New Annual Income Amount =	$7,775	$155,500 x 5%
New Stored Income Balance =	$15,275	Stored Income Balance at the end of the fourth Account Quarter plus the new Annual Income Amount.

Please note: Since the additional Purchase Payment occurred after the first Account Quarter, the first Account Quarter value was adjusted.

Here is an example of how a $4,000 withdrawal taken in the second Account Quarter would affect your step-up:

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		- $4,000		$109,000		$100,000
$4,000 withdrawal	$109,000		n/a		n/a		$100,000
End of Second Quarter	$104,000		n/a		$104,000		$100,000
End of Third Quarter	$86,000		n/a		$86,000		$100,000
End of Fourth Quarter (before step-up)	$99,000		n/a		$99,000		$100,000
Highest Quarterly Value (after adjustments)				$	109,000
Stored Income Balance at end of fourth quarter			$1,000 (initial $5,000 less $4,000 withdrawal)

Step-up comparison	Is ($109,000 - $1,000) greater than $100,000? Yes, so step-up.
On the Account Anniversary (after step-up)
New Income Benefit Base =	$108,000	Highest Quarterly Value (after adjustments) less the Stored Income Balance.
New Annual Income Amount =	$5,400	$108,000 x 5%
New Stored Income Balance =	$6,400	Stored Income Balance at the end of the fourth Account Quarter plus the new Annual Income Amount.

Please note: Since the withdrawal occurred after the first Account Quarter, the first Account Quarter value was adjusted.

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Assume instead you take a $40,000 withdrawal in the second Account Quarter at a point when the Account Value equaled $99,000 immediately before the withdrawal. Since this withdrawal exceeds your Stored Income Balance, it is considered an Excess Withdrawal. The Excess Withdrawal reduces your Income Benefit Base as described in this Appendix under “Excess Withdrawals.” All previous quarter-end Account Values are first reduced by the amount of the Stored Income Balance and then adjusted in the same proportion that the Income Benefit Base was adjusted after the Excess Withdrawal. (See the two-step calculation shown in the box below the following example.)

Time	Account Value	Adjustment for subsequent Purchase Payments and withdrawals		Account Value (after subsequent adjustments)		Income Benefit Base
Issue	$100,000		n/a		n/a		$100,000
End of First Quarter	$113,000		- $45,213		$67,787		$100,000
$40,000 withdrawal	$59,000		n/a		n/a		$62,766
End of Second Quarter	$68,000		n/a		$68,000		$62,766
End of Third Quarter	$50,000		n/a		$50,000		$62,766
End of Fourth Quarter (before step-up)	$63,000		n/a		$63,000		$62,766
Highest Quarterly Value (after adjustments)				$	68,000
Stored Income Balance at end of fourth quarter			$0

Step-up comparison	Is ($68,000 - $0) greater than $62,766? Yes, so step-up.
On the Account Anniversary (after step-up)
New Income Benefit Base =	$68,000	Highest Quarterly Value (after adjustments) less the Stored Income Balance.
New Annual Income Amount =	$3,400	$68,000 x 5%
New Stored Income Balance =	$3,400	Stored Income Balance at the end of the fourth Account Quarter plus the new Annual Income Amount.

(1)   Reduce the end of First Quarter Account Value by the Stored Income Balance	=	$113,000	–	$5,000		=	$108,000
(2)   Adjust Account Value for the first Account Quarter	=	$108,000 x	(	$99,000 - $40,000         $99,000 - $5,000	)	=	$67,787
The total adjustment	=	$113,000	–	$67,787		=	$45,213

All of the above examples assume that you are age 65 at issue, so your Lifetime Income Percentage is set to 5%. Assume instead you are age 74 at issue and have attained age 75 on your first Account Anniversary. Follow the first example where no withdrawals were taken and no additional Purchase Payments were made. When your Income Benefit Base steps-up to $108,000, your new Lifetime Income Percentage is 6% since you are now age 75. Your Annual Income Amount is now $6,480, and your Stored Income Balance becomes $11,480.

Joint-Life Coverage

On the Issue Date, you have the option of electing IOD II Escalator with single-life coverage or, for a higher IOD II Escalator Fee, with joint-life coverage. Once you make the election, you cannot switch between joint-life and single-life coverage, regardless of any change in life events. Joint-life coverage is not available if you are unmarried on the Issue Date.

Joint-life coverage can be elected on an individually-owned Contract or on a co-owned Contract. On an individually-owned Contract, joint-life coverage is available only if your spouse is the sole primary Beneficiary on the Issue Date and remains the sole primary Beneficiary while IOD II Escalator is in effect. On a co-owned Contract, joint-life coverage is available only if you and your spouse are the only co-owners on the Issue Date and remain so while IOD II

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Escalator is in effect. Whereas single-life coverage provides an Annual Income Amount only until any Participant dies, joint-life coverage provides an Annual Income Amount for as long as either you or your spouse is alive. Note that, for joint-life coverage to continue after the death of any Participant, the surviving spouse must elect to continue the contract through the “Spousal Continuance” provision. See also “Death of Participant Under IOD II Escalator with Joint-Life Coverage” in this Appendix.

If you have elected joint-life coverage, the Stored Income Period will be your Issue Date if the younger spouse is at least age 50. Otherwise it will be the first Account Anniversary after the younger spouse attains (or would have attained) age 50 if the younger spouse is less than age 50 on the Issue Date. (For purposes of joint-life coverage, the younger spouse refers to the person who was the younger spouse on the Issue Date, even if that person has died or is no longer married to the person who was his or her spouse on the Issue Date.) The First Withdrawal Date will be your Issue Date if the younger spouse is at least age 59. Otherwise it will be the first Account Anniversary after the younger spouse attains (or would have attained) age 59.

The Lifetime Income Percentage will be based on the age of the younger spouse, as shown in the tables below. If you purchased your Contract on or after February 17, 2009, your Lifetime Income Percentage is determined, as follows:

Age of Younger Spouse at Step-up	Lifetime Income Percentage
50 - 64	4%
65 - 74	5%
75 - 79	6%
80 or older	7%

If you purchased your Contract prior to February 17, 2009, your Lifetime Income Percentage is determined, as follows:

Age Younger Spouse at Step-up	Lifetime Income Percentage
50 - 69	5%
70 - 79	6%
80 or older	7%

The Lifetime Income Percentage may increase, in the future, if the age of the younger spouse at time of step-up coincides with a higher percentage as shown in the applicable table above.

The two spouses on the Issue Date are the only two people covered under the joint-life feature. If a Participant remarries, the new spouse is not covered under the joint-life feature. Therefore, if the spouse on the Issue Date is no longer your spouse, your benefits under IOD II Escalator continue for your life and, when you die, annual withdrawals are no longer available. Note that, when you elect joint-life coverage, you also elect the higher joint-life fee. The percentage rate of the fee will not be reduced regardless of any change in life events.

If one spouse is significantly younger than the other spouse, you should carefully consider whether joint-life coverage is an appropriate choice in light of the possibly long waiting period before the benefit begins to accumulate income and in light of the higher fee for joint-life coverage.

Joint-life coverage may not be available on all Contracts.

Cancellation of IOD II Escalator

Should you decide that IOD II Escalator is no longer appropriate for you, you may cancel IOD II Escalator at any time. Upon cancellation, all benefits and charges under IOD II Escalator shall cease. Once cancelled, IOD II Escalator cannot be reinstated.

Although transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached, IOD II Escalator will be cancelled automatically:

• if any Purchase Payment is allocated to an investment option other than a Designated Fund; or

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• if any portion of Account Value maintained in a Designated Fund is transferred into an investment option other than a Designated Fund.

IOD II Escalator will also be cancelled for any of the following:

• upon a termination of the Contract;

• upon annuitization*; or

• your Income Benefit Base is reduced to zero as a result of Early or Excess Withdrawals.

* Note that the Maximum Annuity Commencement Date permitted under this Contract is the first day of the month following the Annuitant’s 95^th birthday. See “Selection of Annuity Commencement Date” in the prospectus to which this Appendix is attached.

A change of ownership may also cancel your benefits under IOD II Escalator.

Death of Participant Under IOD II Escalator with Single-Life Coverage

If you elected single-life coverage, IOD II Escalator terminates on the death of any Participant and the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract. Alternately, the Beneficiary may elect to receive the Stored Income Balance.

Death of Participant Under IOD II Escalator with Joint-Life Coverage

If the surviving spouse on the Death Benefit Date was not the spouse of a Participant on the original Contract’s Issue Date, then this section does not apply, even if joint-life coverage was elected. In such case, if a Participant dies while participating in IOD II Escalator, the provisions of the section above titled “Death of Participant Under IOD II Escalator with Single-Life Coverage” will apply.

If you purchased joint-life coverage and one of the Participants dies, IOD II Escalator will continue, provided that the surviving spouse, as the sole primary beneficiary, continues the Contract. In such case:

• the new Account Value will be equal to the Death Benefit;

• the Stored Income Balance will remain unchanged;

• the Income Benefit Base will remain unchanged until the next Account Anniversary when a step-up could apply due to an increase in the Account Value (see “Step-Up Under IOD II Escalator” in this Appendix);

• if the Stored Income Period has not yet begun, the Lifetime Income Percentage will be determined when the Stored Income Period begins (i.e., on the first Account Anniversary following the date the younger spouse attains (or would have attained) age 50);

• if the Stored Income Period has already begun, the Lifetime Income Percentage will be the Lifetime Income Percentage that applied to the Contract prior to the death of the Participant;

• on each Account Anniversary, the Annual Income Amount will be equal to the Income Benefit Base multiplied by the Lifetime Income Percentage; and

• the percentage rate of the IOD II Escalator Fee for the joint-life coverage option will continue for the surviving spouse as it was immediately prior to the death of the Participant.

At the death of the surviving spouse, the Contract, including IOD II Escalator, terminates. If you purchased joint-life coverage and the deceased Participant’s surviving spouse does not continue the Contract, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

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Annuitization Under IOD II Escalator

Under the terms of IOD II Escalator, if your Account Value is greater than zero on your Maximum Annuity Commencement Date, you may elect to:

(1) surrender your Contract and receive your Cash Surrender Value (or your Stored Income Balance, if greater);

(2) annuitize your Account Value under one of the Annuity Options available on that date; or

(3) (a) receive any remaining Stored Income Balance in a single sum and (b) annuitize your remaining Account Value as a single-life annuity (or a joint-life annuity, if joint-life coverage was elected at issue and you are still eligible to receive it) with an annualized annuity payment of not less than the Lifetime Income Percentage multiplied by your then current Income Benefit Base.

If you make no election, we will default your choice to option 3.

If your Account Value has been reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Income Benefit Base is greater than zero on or before your Maximum Annuity Commencement Date, you will receive your full Annual Income Amount each year until you die. For a more complete discussion of this, see “Depleting Your Account Value” in this Appendix.

Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as IOD II Escalator. If you elected to participate in IOD II Escalator, you may withdraw annual amounts up to the Yearly RMD Amount without affecting your benefit, subject to the conditions stated below. In the event that your Yearly RMD Amount attributable to your Contract is greater than your Stored Income Balance, we are currently waiving the withdrawal provisions under IOD II Escalator, as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in IOD II Escalator, we reduce your Account Value and your Stored Income Balance, dollar for dollar, by the amount of the withdrawal to a value not less than zero. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than your Stored Income Balance. In other words, if a Yearly RMD Amount exceeds your Stored Income Balance, we will reduce your Stored Income Balance, but we will not reduce your Income Benefit Base, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

Currently, any withdrawal in excess of the Annual Income Amount or Stored Income Balance that is taken to satisfy the Yearly RMD Amounts will not be treated as an Excess Withdrawal, and will not reduce the Income Benefit Base. However, if there is any material change to the current Code or IRS Rules governing the timing or determination of required minimum distribution amounts, then the Company reserves the right to treat any withdrawal greater than the Annual Income Amount or Stored Income Balance as an Excess Withdrawal which may significantly reduce the Income Benefit Base.

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

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APPENDIX Q - RETIREMENT ASSET PROTECTOR^SM

The optional living benefit known as Retirement Asset Protector was available on Contracts purchased on or after March 5, 2007 and prior to August 17, 2009. If you elected to participate in Retirement Asset Protector, the following information applies to your Contract. Retirement Asset Protector is no longer available for sale on new Contracts, and therefore, renewals of the benefit are no longer available.

If you purchased your Contract prior to February 17, 2009, and elected to participate in Retirement Asset Protector, the fee charged for your living benefit is lower than the fee charged on Contracts purchased on or after that date. (See “Cost of Retirement Asset Protector.”) Your fee will not increase unless you elect to “step-up” as described under “Step-Up Under Retirement Asset Protector,” and you consent in writing to accept the higher fee.

To describe how Retirement Asset Protector works, we use the following definitions:

Retirement Asset Protector Benefit Base:	An amount equal to the sum of all Purchase Payments made during the first year following your Issue Date, decreased by any partial withdrawals taken and increased by any step-ups as described under “Step-Up Under Retirement Asset Protector.”
GMAB Maturity Date:	The date when Retirement Asset Protector matures. If you are younger than 85 on the Issue Date, your GMAB Maturity Date is the later of your 10th Account Anniversary or 10 years from the date of your most recent step-up. (See “Step-Up Under Retirement Asset Protector.”) If you are 85 on the Issue Date, your GMAB Maturity Date is your Maximum Annuity Commencement Date.
You and Your:	Under Retirement Asset Protector, the terms “you” and “your” refer to the oldest Participant or the surviving spouse of the oldest Participant as described under “Death of Participant Under Retirement Asset Protector.” In the case of a non-natural Participant, these terms refer to the oldest Annuitant.

Retirement Asset Protector guarantees a return of the greater of:

• the excess of your Retirement Asset Protector Benefit Base over your Account Value or

• your total fees paid for Retirement Asset Protector (“Retirement Asset Protector Fees”),

regardless of the investment performance of the Designated Funds, provided that you have reached the GMAB Maturity Date.

If you are participating in Retirement Asset Protector, you may make Purchase Payments only during your first Account Year. After the first Account Anniversary, any Purchase Payments you submit will be returned to you.

To participate in Retirement Asset Protector, all of your Account Value must be invested in a Designated Fund at all times during the term of the GMAB Maturity Date. The only Funds, dollar-cost averaging program options, and asset allocation models that currently qualify as Designated Funds are listed in the section entitled “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

Cost of Retirement Asset Protector

If you elected Retirement Asset Protector, we will deduct a quarterly fee from your Account Value (“Retirement Asset Protector Fee” or “rider fee”). The Retirement Asset Protector Fee will be taken as a specific deduction from your Account Value on the last valuation day of each Account Quarter. The Fee will be a percentage of your Retirement Asset Protector Benefit Base. This percentage rate will equal 0.1875% of your Retirement Asset Protector Benefit Base on the last day of the Account Quarter. The maximum Retirement Asset Protector Fee you can pay in any one Account Year is equal to 0.75% of the highest Retirement Asset Protector Benefit Base at any point in that Account Year.

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If you purchased your Contract prior to February 17, 2009, your cost for Retirement Asset Protector was initially, on an annual basis, 0.35% of your Retirement Asset Protector Benefit Base. The cost of your benefit will not increase unless, at time of step-up, you consent in writing to accept this higher fee of 0.75%. If you do not consent to the higher fee, the step-up will not be implemented and all subsequent step-ups will be suspended unless and until we receive your written consent to the higher fee.

Your Retirement Asset Protector Fee will not change, unless you take one of these specific actions:

• If you made an additional Purchase Payment during your first Account Year, you will increase your Retirement Asset Protector Benefit Base and thus your Retirement Asset Protector Fee.

• If you make a partial withdrawal, you will decrease your Retirement Asset Protector Benefit Base and thus your Retirement Asset Protector Fee.

• If you elect to “step-up” your Retirement Asset Protector Benefit Base, your Retirement Asset Protector Fee will increase.

The investment performance of the Designated Funds will not affect your Retirement Asset Protector Fee unless you elect a step-up of your Retirement Asset Protector Benefit Base.

We will continue to deduct the Retirement Asset Protector Fee until:

• you annuitize your Contract;

• Retirement Asset Protector matures on the GMAB Maturity Date;

• your Retirement Asset Protector benefit is cancelled as described in this Appendix under “Cancellation of Retirement Asset Protector;” or

• your Account Value is reduced to zero.

How Retirement Asset Protector Works

On the GMAB Maturity Date, we will credit your Account Value with an amount equal to the greater of:

(a) any excess of your Retirement Asset Protector Benefit Base over your Account Value after adjusting for any Contract charges; and

(b) the total amount of Retirement Asset Protector Fees paid between the Issue Date and the GMAB Maturity Date.

We determine the value of (b) in two steps.

(1) As described above under “Cost of Retirement Asset Protector,” each quarter between the Issue Date and the GMAB Maturity Date we calculate the Retirement Asset Protector Fee by multiplying your Retirement Asset Protector Benefit Base on the last valuation day of that quarter by the applicable percentage rate.

(2) We then sum each quarterly amount calculated in (1) to determine the total amount of Retirement Asset Protector Fees paid.

In the situation where you purchased your Contract on or after February 17, 2009, and do not make additional Purchase Payments or partial withdrawals and you do not “step-up,” you can expect the total fees paid to equal 7.50% of your initial Purchase Payment. In other words, because Retirement Asset Protector matures in 10 years, we multiply 0.1875% times 40 quarters (four quarters per year for 10 years) to obtain the percentage (7.50%) needed to determine the total amount of the fees to be paid. If you make additional Purchase Payments, you “step-up,” or the percentage rate used to calculate the Retirement Asset Protector Fee is changed at the time of “step-up,” the total amount of fees will be higher.

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The greater of the two amounts will be allocated to the Designated Fund in which you are invested at that time. Here is an example of how we calculate benefits under Retirement Asset Protector:

• Assume that you purchased a Contract on March 7, 2007 with an initial Purchase Payment of $100,000 and you selected Retirement Asset Protector. Your Retirement Asset Protector Benefit Base equals your Purchase Payment amount of $100,000.

• Assume you make an additional Purchase Payment of $50,000 on April 7, 2007, thus increasing your Retirement Asset Protector Benefit Base to $150,000.

• Assume you make no withdrawals or additional Purchase Payments and you do not step-up prior to the GMAB Maturity Date on March 7, 2017.

• Assume that, because of poor investment performance, your Account Value on March 7, 2017 is $135,000. The excess of your Retirement Asset Protector Benefit Base over your Account Value is $15,000 ($150,000 - $135,000). The total amount of Retirement Asset Protector Fees paid is equal to the sum of the value of the Retirement Asset Protector Benefit Bases on the last day of each Account Quarter since the Inception Date ($150,000 x 40) times one quarter of the annual Retirement Asset Protector Fee (0.35% ÷ 4). In this case, the total amount of rider fees paid is $5,250. Therefore, we will credit $15,000 to your Account Value.

• Assume instead that, because of better investment performance, your Account Value on March 7, 2017, is $155,000. Because your Account Value is greater than your Retirement Asset Protector Benefit Base, your Account Value will be credited with the total amount of Retirement Asset Protector Fees paid. In this case, the amount will be $5,250.

Withdrawals Under Retirement Asset Protector

All withdrawals you take, including any free withdrawal amounts or Required Minimum Distribution Amounts, will reduce the dollar value of the Retirement Asset Protector Benefit Base proportionally to the amount withdrawn. For example, after a partial withdrawal, the new Retirement Asset Protector Benefit Base will equal:

Retirement Asset Protector Benefit Base immediately before partial withdrawal	X	Account Value immediately after partial withdrawal
		Account Value immediately before partial withdrawal

You should be aware that, if you take a withdrawal when your Account Value is less than your Retirement Asset Protector Benefit Base, the withdrawal may reduce the value of your Benefit Base by an amount greater than the amount of the withdrawal. Thus, withdrawals taken in a down market could severely reduce, and even terminate, your benefits under Retirement Asset Protector, including reducing your Account Value to zero and thereby terminating your Contract without value. Here is an example of how we handle withdrawals under Retirement Asset Protector:

• Assume that you purchased a Contract on March 7, 2007 with an initial Purchase Payment of $100,000 and you selected Retirement Asset Protector. Your Retirement Asset Protector Benefit Base equals your Purchase Payment amount of $100,000.

• Assume that, on March 10, 2009, your Account Value is $80,000. Assume further that you take a withdrawal of $10,000 on that date, thus reducing your Account Value to $70,000. Your Retirement Asset Protector Benefit Base is reduced proportionally to the amount withdrawn. Therefore your new Retirement Asset Protector Benefit Base is $100,000 x ($70,000 ÷ $80,000), or $87,500.

• Assume you make no additional withdrawals and you do not step-up prior to the GMAB Maturity Date on March 7, 2017.

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• Assume that, because of investment performance, your Account Value on March 7, 2017 is $80,000. The excess of your Retirement Asset Protector Benefit Base over your Account Value is $7,500 ($87,500 - $80,000). The total amount of Retirement Asset Protector Fees paid is equal to the sum of the value of your Retirement Asset Protector Benefit Bases on the last day of each Account Quarter since the Issue Date [($100,000 x 8) + ($87,500 x 32)] times one quarter of your annual Retirement Asset Protector Fee (0.35% ÷ 4). In this case, the total amount of rider fees paid is $3,150. Therefore, we will credit $7,500 to your Account Value.

Step-Up Under Retirement Asset Protector

On or after your first Account Anniversary, you may elect to increase your Retirement Asset Protector Benefit Base to your then current Account Value. The step-up election may be made on any day on or after your first Account Anniversary. (We reserve the right, in our sole discretion, to require step-up elections to occur only on Account Anniversaries.)

If you are participating in Retirement Asset Protector, on the day we receive your step-up election notice in Good Order (the “Step-Up Date”), we will increase your Retirement Asset Protector Benefit Base to an amount equal to your Account Value if eligible. If you elect to step-up, at least one full year from the Step-Up Date must pass before you can elect another step-up. You can only elect to step-up if:

• your current Account Value is greater than the current Retirement Asset Protector Benefit Base, and

• your Account Value is $5,000,000 or less on your Step-Up Date.

For purposes of determining the $5,000,000 limit, we reserve the right, in our sole discretion, to aggregate your Account Value with the account values of all other variable annuity contracts you own that have been issued by Delaware Life or its affiliates.

Under Retirement Asset Protector, your Step-Up Date must be at least 10 years prior to your Maximum Annuity Commencement Date. If you have selected an Annuity Commencement Date that is prior to the Maximum Annuity Commencement Date but is less than 10 years after your Step-Up Date, then we will automatically extend your Annuity Commencement Date to equal your GMAB Maturity Date.

Without a step-up, your benefit under Retirement Asset Protector will “mature” on your 10th Account Anniversary. If you elect to step-up your Retirement Asset Protector Benefit Base, your benefit under Retirement Asset Protector will mature 10 years from the most recent Step-Up Date. In either case, on the day your Retirement Asset Protector benefit matures (the “GMAB Maturity Date”), we will credit the greater of:

• any excess of your Retirement Asset Protector Benefit Base over your Account Value, or

• the total amount of fees you paid for Retirement Asset Protector.

• Assume that you purchased a Contract on March 7, 2008 with an initial Purchase Payment of $100,000 and you selected Retirement Asset Protector. Your Retirement Asset Protector Benefit Base equals your Purchase Payment amount of $100,000.

• Assume that, on March 7, 2009, your Account Value is $118,000. Because your Account Value is greater than your Retirement Asset Protector Benefit Base, you elect to step-up to a new ten-year period with a new Retirement Asset Protector Benefit Base of $118,000. Your new GMAB Maturity Date will be March 7, 2019.

• Assume you make no withdrawals prior to the GMAB Maturity Date on March 7, 2019.

• Assume that your Account Value on March 7, 2019 is $108,000. The excess of your Retirement Asset Protector Benefit Base over your Account Value is $10,000 ($118,000 - $108,000). Your total Retirement Asset Protector Fee is equal to the sum of all fees applied prior to the step-up plus the sum of all fees applied after the step-up.

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The sum of all fees applied prior to the step-up are equal to the sum of the value of the Benefit Bases prior to the step-up multiplied by the quarterly fee percentage applicable prior to the step-up [($100,000 x 4) x (0.35% ÷ 4)]. Similarly, the sum of all fees applied after the step-up are equal to the sum of the value of the Benefit Bases after the step-up multiplied by the quarterly fee percentage applicable after the step-up [($118,000 x 40) x (0.75% ÷ 4)].

In this case, the total amount of rider fees paid is $9,200. Therefore, we will credit $10,000 to your Account Value.

We reserve the right to discontinue offering the step-up provision of Retirement Asset Protector if we determine that, based upon market conditions at the time of the step-up, we can no longer offer Retirement Asset Protector to new Contracts at the current percentage rate used to calculate the Retirement Asset Protector Fee as set forth in this Appendix under “Cost of Retirement Asset Protector.” In that case, we will send notification that the step-up provision under your Contract has been discontinued unless you elect to begin a new step-up provision at the higher percentage rate. Your written consent is required to accept the higher percentage rate and continue to step-up.

Cancellation of Retirement Asset Protector

You may cancel Retirement Asset Protector at any time. Upon cancellation, all benefits and charges under the benefit shall cease. Once cancelled, Retirement Asset Protector cannot be reinstated.

Although transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached, Retirement Asset Protector will be cancelled automatically:

• if any Purchase Payment is allocated to an investment option other than a Designated Fund; or

• if any portion of Account Value maintained in a Designated Fund is transferred into any investment option other than a Designated Fund.

A change of ownership of the Contract may also cancel the Benefit.

Death of Participant Under Retirement Asset Protector

If the Participant dies while participating in Retirement Asset Protector, all benefits and charges under the benefit will automatically terminate when we receive Due Proof of Death, unless the surviving spouse is the sole Beneficiary and elects to continue the Contract. The surviving spouse can automatically continue Retirement Asset Protector even though the Account Value may have been enhanced under the provisions of the death benefit. (See “Spousal Continuance” under “DEATH BENEFIT” in the prospectus to which this Appendix is attached.) The GMAB Maturity Date does not change.

Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as Retirement Asset Protector. If you withdraw all or a portion of your retirement plan’s Yearly RMD Amount from the your Qualified Contract while participating in Retirement Asset Protector, we reduce your Account Value by the amount of the withdrawal and your Retirement Asset Protector Benefit Base proportionally (see “Withdrawals Under Retirement Asset Protector” in this Appendix).

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

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APPENDIX R - Income ON Demand^® III Escalator

The optional living benefit known as Income ON Demand III Escalator (“IOD III Escalator”) was available on Contracts purchased on or after August 17, 2009 and prior to February 8, 2010. If you elected to participate in IOD III Escalator, the following information applies to your Contract. IOD III Escalator is no longer available for sale on new Contracts. To describe how IOD III Escalator works, we use the following definitions:

Annual Income Amount:	The amount added to your Stored Income Balance on each Account Anniversary during your Stored Income Period. It is equal to your Income Benefit Base multiplied by your Lifetime Income Percentage.
Early Withdrawal:	Any withdrawal taken prior to your First Withdrawal Date.
Excess Withdrawal:	Any withdrawal taken after your First Withdrawal Date that exceeds your Stored Income Balance (or your Yearly Required Minimum Distribution Amount, if greater).
Fee Base:	The amount used to calculate your “IOD III Escalator Fee” (see “Cost of IOD III Escalator” in this Appendix).
First Withdrawal Date:	Your Issue Date if you are at least age 59 at issue, otherwise the first Account Anniversary after you attain age 59.
Income Benefit Base:	The amount used to calculate your Annual Income Amount for IOD III Escalator.
Lifetime Income Percentage:	The percentage used to calculate your Annual Income Amount.
Stored Income Balance:	The amount you may withdraw at any time after your First Withdrawal Date without reducing your benefits under IOD III Escalator.
Stored Income Period:	A period beginning on your Issue Date if you are at least age 50 at issue, otherwise the first Account Anniversary following your 50th birthday, ending on your Annuity Commencement Date.
You and Your:	The terms “you” and “your” refer to the oldest living Participant or the surviving spouse of the oldest Participant, as described in this Appendix under “Death of Participant Under IOD III Escalator with Joint-Life Coverage.” In the case of a non-natural Participant, these terms refer to the oldest living Annuitant.

Upon annuitization, IOD III Escalator and the MAV optional death benefit, if elected, automatically terminate.

IOD III Escalator allows you to withdraw a guaranteed amount each year, beginning after your First Withdrawal Date, until the death of any Participant if single-life coverage is elected (or until the death of both the Participant and the Participant’s spouse if joint-life coverage is elected), regardless of the investment performance of the Designated Funds, provided that you comply with certain requirements. The guaranteed annual amount you can withdraw, in any one year, can be 4%, 5%, or 6% of your Income Benefit Base depending upon your age. Under IOD III Escalator, if you forgo withdrawing all or any part of your Annual Income Amount in any one year, that amount will be stored or banked in the Stored Income Balance for use in later years. In any future year, you may take more than your Annual Income Amount by drawing from that amount which you have stored or banked. Thus, in future years, you can take your full Annual Income Amount plus all or a portion of that amount which you have stored or banked.

If you are participating in IOD III Escalator, you may make Purchase Payments only during your first Account Year. After the first Account Anniversary, any Purchase Payments you submit will be returned to you.

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If you are participating in IOD III Escalator, all of your Account Value must be invested only in Designated Funds at all times during the term of IOD III Escalator. (The term of IOD III Escalator is for life, unless your Income Benefit Base is reduced to zero or your benefits under IOD III Escalator are terminated or cancelled as described in this Appendix under “Cancellation of IOD III Escalator,” “Depleting Your Account Value,” and “Annuitization Under IOD III Escalator.”) The only Funds, dollar-cost averaging program options, and asset allocation models that currently qualify as Designated Funds are listed in the section entitled “DESIGNATED FUNDS” in the prospectus to which this Appendix is attached.

You had the option of choosing between single-life coverage and joint-life coverage. These options are described in greater detail under “Joint-Life Coverage” and the sections entitled “Death of Participant Under IOD III Escalator with Single-Life Coverage” and “Death of Participant Under IOD III Escalator with Joint-Life Coverage” in this Appendix.

Determining Your Income Benefit Base

On the Issue Date, we set your Income Benefit Base equal to your initial Purchase Payment. Thereafter, your Income Benefit Base is:

• increased on each Account Anniversary by any step-ups as described under “Step-Up Under IOD III Escalator” in this Appendix;

• increased to the extent that you exercise your one-time option to use any amount of your Stored Income Balance to increase your Income Benefit Base, as described under “How IOD III Escalator Works” in this Appendix;

• increased by any subsequent Purchase Payments you make during the first year following the Issue Date;

• decreased following any Early Withdrawals you take, as described under “Early Withdrawals” in this Appendix; and

• decreased following any Excess Withdrawals you take, as described under “Excess Withdrawals” in this Appendix.

Determining Your Annual Income Amount

Your Annual Income Amount is first determined at the beginning of your Stored Income Period and then on each subsequent Account Anniversary. Your Annual Income Amount is equal to your Income Benefit Base multiplied by your Lifetime Income Percentage. The Lifetime Income Percentage depends upon your age at the beginning of your Stored Income Period as shown in the table below.

Your Age at the Beginning of Your Stored Income Period*	Lifetime Income Percentage
50 - 64	4%
65 - 79	5%
80 or older	6%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described in this Appendix under “Joint-Life Coverage.”

Your Lifetime Income Percentage will only increase if your age at the time of step-up coincides with a higher percentage as shown in the table above. (See “Step-Up Under IOD III Escalator” in this Appendix) An increase in the Lifetime Income Percentage will increase your Annual Income Amount.

Your Annual Income Amount will also change with any change to your Income Benefit Base as described under “Determining Your Income Benefit Base” in this Appendix.

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Determining Your Stored Income Balance

At the beginning of the Stored Income Period, your Stored Income Balance will equal your Annual Income Amount (your Lifetime Income Percentage multiplied by your Income Benefit Base on that Date). Thereafter, your Stored Income Balance is:

• increased by your Lifetime Income Percentage multiplied by any subsequent Purchase Payments you make during the first year following the Issue Date;

• increased on each Account Anniversary by your Annual Income Amount determined on that Anniversary;

• decreased by the amount of any withdrawals you take, on or after your First Withdrawal Date, up to the amount of your Stored Income Balance;

• decreased to $0 if you take an Excess Withdrawal;

• decreased in proportion to the change in your Account Value if you take an Early Withdrawal; and

• decreased by the amount you use in exercising your one-time option to increase your Income Benefit Base (described below under “How IOD III Escalator Works”).

How IOD III Escalator Works

Under the terms of IOD III Escalator, you can take withdrawals up to the amount of your Stored Income Balance beginning on your First Withdrawal Date, subject to the terms and conditions discussed below. You can use all or a portion of your Stored Income Balance to effect a one-time increase of your Income Benefit Base prior to your Annuity Commencement Date. IOD III Escalator also provides the opportunity to increase your Annual Income Amount if your Lifetime Income Percentage increases as you grow older. (Your Lifetime Income Percentage will only increase if you step-up after you reach certain specified ages.) If your Account Value is reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Income Benefit Base is greater than zero, you will receive your full Annual Income Amount every year until you die.

Withdrawals from your Stored Income Balance can be taken at any time beginning on your First Withdrawal Date and prior to your Annuity Commencement Date without affecting your Income Benefit Base. If, beginning on your First Withdrawal Date, you make a withdrawal that does not exceed your Stored Income Balance:

• your Stored Income Balance will be decreased by the amount withdrawn; and

• the withdrawal will not be subject to withdrawal charges.

You also have the option to use all or a portion of your Stored Income Balance to increase your Income Benefit Base. This option allows you to increase your future Annual Income Amount. While your Contract is in force, you may exercise this option only once and you must do so prior to your Annuity Commencement Date. If you choose to use any portion of your Stored Income Balance to increase your Income Benefit Base:

• your Stored Income Balance will be decreased by the amount used;

• the amount of your Stored Income Balance used will be added to your Income Benefit Base; and

• your new Annual Income Amount on your next Account Anniversary will equal your Lifetime Income Percentage multiplied by your new Income Benefit Base.

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Here is an example of how IOD III Escalator works.

Assume that you are age 65 when your Contract is issued with an initial Purchase Payment of $100,000. Assume you elected to participate in IOD III Escalator with single-life coverage and investment performance of the Designated Funds is constant over the years. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment on your Issue Date. Your Lifetime Income Percentage is 5%. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). Therefore, $5,000 will be added each year to your Stored Income Balance. All values shown are as of the beginning of the Account Year.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
1	$100,000	$100,000	$5,000	$0	$5,000
2	$100,000	$100,000	$5,000	$0	$10,000
3	$100,000	$100,000	$5,000	$0	$15,000
4	$100,000	$100,000	$5,000	$0	$20,000

During your fifth Account Year, you use the full amount of your Stored Income Balance ($25,000) to increase your Income Benefit Base. On your next Account Anniversary, your Income Benefit Base will be increased to $125,000 and your Annual Income Amount will be $6,250 (your Lifetime Income Percentage multiplied by your Income Benefit Base). Therefore $6,250 will be added each year to your Stored Income Balance unless your Annual Income Amount changes.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$100,000	$5,000	$0	$25,000
6	$100,000	$125,000	$6,250	$0	$6,250
7	$100,000	$125,000	$6,250	$0	$12,500
8	$100,000	$125,000	$6,250	$0	$18,750

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Assume instead that, during your fifth Account Year, you take a withdrawal of $25,000, thereby reducing your Stored Income Balance to $0. On your next Account Anniversary, your Income Benefit Base will remain at $100,000 and your Annual Income Amount remains at $5,000 (your Lifetime Income Percentage multiplied by your Income Benefit Base). Therefore $5,000 will be added each year to your Stored Income Balance unless your Annual Income Amount changes.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$100,000	$5,000	$25,000	$0
6	$75,000	$100,000	$5,000	$0	$5,000
7	$75,000	$100,000	$5,000	$0	$10,000
8	$75,000	$100,000	$5,000	$0	$15,000

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Early Withdrawals and Excess Withdrawals may significantly decrease, and even terminate, your benefits under IOD III Escalator, including reducing your Account Value to zero and thereby terminating your Contract without value, as described further below under “Withdrawals Under IOD III Escalator”. Even if your Stored Income Period has begun, withdrawals prior to your First Withdrawal Date are considered Early Withdrawals. Investing in any Fund, other than a Designated Fund will cancel IOD III Escalator as described in this Appendix under “Cancellation of IOD III Escalator.”

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Withdrawals Under IOD III Escalator

Withdrawals After Your First Withdrawal Date

Starting on your First Withdrawal Date and continuing to your Annuity Commencement Date you may take annual withdrawals up to your Stored Income Balance without reducing your future Annual Income Amount. These withdrawals will reduce your Stored Income Balance by the full amount of the withdrawal, but will not change your Income Benefit Base. This is shown in the previous example.

Withdrawals taken after your First Withdrawal Date and during the withdrawal charge period permitted under your Contract are subject to withdrawal charges only to the extent they are in excess of the greatest of:

• the free withdrawal amount permitted under your Contract;

• your Stored Income Balance; or

• your Yearly Required Minimum Distribution Amount (subject to conditions discussed under “Certain Tax Provisions” in this Appendix).

Excess Withdrawals

If you take an Excess Withdrawal, your Income Benefit Base will be reduced according to the following formula:

Your new Income Benefit Base	=	IBB x	(	AV - WD	)
				AV - SB

Where:
	IBB	=	Your Income Benefit Base immediately prior to the Excess Withdrawal.
	WD	=	The amount of the Excess Withdrawal.
	SB	=	Your Stored Income Balance (or your Yearly Required Minimum Distribution Amount, if greater) immediately prior to the Excess Withdrawal.
	AV	=	Your Account Value immediately prior to the Excess Withdrawal.

Your Annual Income Amount will be recalculated based on the reduced Income Benefit Base. Here is an example of an Excess Withdrawal:

Using the same facts as the previous example, assume that in your fifth Account Year you take a withdrawal of $50,000, exceeding your Stored Income Balance. Assume that due to poor investment performance during the fifth Account Year your Account Value was $90,000 immediately prior to the withdrawal. Your Income Benefit Base will be reduced to $61,538 as shown below.

Year	Account Value	Income Benefit Base	Annual Income Amount	Withdrawal	Stored Income Balance
5	$100,000	$100,000	$5,000	$50,000	$0
6	$40,000	$61,538	$3,077	$0	$3,077
7	$40,000	$61,538	$3,077	$0	$6,154
8	$40,000	$61,538	$3,077	$0	$9,231

Each year thereafter, the Annual Income Amount will be added to the Stored Income Balance in the same manner.

Your new Income Benefit Base	=	$	100,000 x	(	$90,000 -  $50,000	)	=	$	61,538
					$90,000 - $25,000

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Excess Withdrawals taken in a down market could severely reduce, and even terminate, your benefits under IOD III Escalator, including reducing your Account Value to zero and thereby terminating your Contract without value.

Early Withdrawals

All withdrawals taken before your First Withdrawal Date, including any “free withdrawal amounts” permitted under your Contract, will be considered Early Withdrawals and the Income Benefit Base and the Stored Income Balance will be reduced using the following formulas:

Your new Income Benefit Base	=	IBB x	(	AV - WD	)
				AV

Your new Stored Income Balance	=	SB x	(	AV - WD	)
				AV

Where:
	IBB	=	Your Income Benefit Base immediately prior to the Early Withdrawal.
	SB	=	Your Stored Income Balance immediately prior to the Early Withdrawal.
	WD	=	The amount of the Early Withdrawal.
	AV	=	Your Account Value immediately prior to the Early Withdrawal.

Your future Annual Income Amount will be recalculated based on the reduced Income Benefit Base.

In addition, Early Withdrawals will also be subject to withdrawal charges, to the extent that such withdrawals are in excess of the “free withdrawal amount” permitted under your Contract. Early Withdrawals could severely reduce, and even terminate, your benefits under IOD III Escalator, including reducing your Account Value to zero and thereby terminating your Contract without value.

In addition to reducing your benefits under IOD III Escalator, any withdrawal before your First Withdrawal Date could have state and federal income tax liability. You should consult a qualified tax professional for more information.

Depleting Your Account Value

If your Account Value is reduced to zero immediately following an Early Withdrawal or an Excess Withdrawal (as described above), then your Stored Income Balance and your Income Benefit Base will both be reduced to zero and your Contract will terminate without value. Therefore, your Contract, as well as any benefits available with IOD III Escalator, will end.

If your Account Value is reduced to zero through any combination of poor investment performance of the Designated Funds, Contract charges, and withdrawals other than Excess Withdrawals or Early Withdrawals, your Income Benefit Base will not be reduced. Your Contract will end. You will be entitled to receive annual payments equal to your Lifetime Income Percentage multiplied by your Income Benefit Base. Prior to determining your annual payments, you may increase your Income Benefit Base by any remaining Stored Income Balance as described below. These payments will continue for as long as you live. If you elected joint-life coverage, the payments will continue as long as either you or your spouse are alive as described in this Appendix under “Death of Participant Under IOD III Escalator with Joint-Life Coverage.” If you have any remaining Stored Income Balance on the day your Account Value is reduced to zero, you will be notified that, before you begin to receive your “annual lifetime payments,” you must deplete your Stored Income Balance by:

(a) withdrawing your remaining Stored Income Balance;

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(b) applying the remaining amount of your Stored Income Balance to increase your Income Benefit Base (and thus the amount of your “annual lifetime payments”); or

(c) using a combination of (a) and (b).

Because the Contract has ended, the amount of these annual lifetime payments will not change and they will not be subject to any withdrawal charges. You should be aware, however, that they could be subject to certain state and federal income tax liability. You should consult a qualified tax professional for more information.

Cost of IOD III Escalator

If you elected IOD III Escalator, we will deduct a quarterly fee from your Account Value (“IOD III Escalator Fee”). The IOD III Escalator Fee will be taken as a specific deduction from your Account Value on the last valuation day of each Account Quarter and will equal 0.2750 % of your Fee Base on that day, if you elected single-life coverage (0.3250% for joint-life coverage). On an annual basis, the IOD III Escalator Fee is equal to 1.10% of your Fee Base if you elected single-life coverage (1.30% for joint-life coverage). We reserve the right to increase the percentage rate used to calculate the IOD III Escalator Fee on newly issued Contracts.

During the first Account Year, your Fee Base is equal to your Income Benefit Base. On each Account Anniversary, the Fee Base is recalculated. Your new Fee Base will be reset to equal your Income Benefit Base plus your Stored Income Balance (if any) less your Annual Income Amount (if any) for that year if this recalculated amount is higher than your current Fee Base. In the event that the recalculated amount is not greater than your current Fee Base, we will continue to calculate your IOD III Escalator Fee based upon your current Fee Base until, at least, your next Account Anniversary. Note that, although your IOD III Escalator Fee may increase, it will never decrease.

For the most part, we calculate your Fee Base only on your Account Anniversary. However, we will recalculate your Fee Base between Account Anniversaries, if you take an Early Withdrawal or Excess Withdrawal or make additional Purchase Payments during your first Account Year.

If you take an Excess Withdrawal during your Stored Income Period, your Fee Base will be decreased by the following formula:

Your new Fee Base	=	Fee Base x	(	AV - WD	)
				AV - SB

If you take an Early Withdrawal, your Fee Base will be decreased by the following formula:

Your new Fee Base	=	Fee Base x	(	AV - WD	)
				AV

Where:
	Fee Base	=	Your Fee Base immediately prior to the Early/Excess Withdrawal.
	WD	=	The amount of the Early/Excess Withdrawal.
	SB	=	Your Stored Income Balance (if any) immediately prior to the Excess Withdrawal.
	AV	=	Your Account Value immediately prior to the Early/Excess Withdrawal.

Any additional Purchase Payment you make during your first Account Year will increase your Income Benefit Base as described in this Appendix under “Determining Your Income Benefit Base.” Therefore, your Fee Base will increase by any additional Purchase Payments made.

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Here is an example of how we calculate your Fee Base.

Assume that you are age 65 when your Contract is issued with an initial Purchase Payment of $100,000. Assume you elected to participate in IOD III Escalator with single-life coverage and investment performance of the Designated Funds is constant over the years. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment on your Issue Date. Your Lifetime Income Percentage is 5%. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). All values are shown as of the beginning of the Account Year except as otherwise stated.

During the Stored Income Period, the Fee Base is reset at the beginning of the Contract Year to equal your Income Benefit Base plus your Stored Income Balance less your Annual Income Amount, if that amount is greater than the previous Fee Base. For example, in Contract Year 4, the Fee Base is set equal to the Income Benefit Base ($100,000) plus the Stored Income Balance ($20,000) less your Annual Income Amount ($5,000) if that amount ($115,000) is greater than the previous Fee Base ($110,000).

Year	Income Benefit Base		Annual Income Amount		Stored Income Balance				Fee Base
					Beginning of year	Withdrawal Amount		End of year
1	$	100,000	$	5,000	$5,000	$	0	$5,000	$	100,000
2	$	100,000	$	5,000	$10,000	$	0	$10,000	$	105,000
3	$	100,000	$	5,000	$15,000	$	0	$15,000	$	110,000
4	$	100,000	$	5,000	$20,000	$	0	$20,000	$	115,000

Assume, instead, that in your fourth Account Year you take a $20,000 withdrawal. At the beginning of your fifth Account Year, your Income Benefit Base ($100,000) plus your Stored Income Balance ($5,000) less your Annual Income Amount ($5,000) is less than the current Fee Base ($115,000), so there is no change to the Fee Base, as shown below.

Year	Income Benefit Base		Annual Income Amount		Stored Income Balance				Fee Base
					Beginning of year	Withdrawal Amount		End of year
4	$	100,000	$	5,000	$20,000	$	20,000	$0	$	115,000
5	$	100,000	$	5,000	$5,000		$0	$5,000	$	115,000
6	$	100,000	$	5,000	$10,000		$0	$10,000	$	115,000
7	$	100,000	$	5,000	$15,000		$0	$15,000	$	115,000
8	$	100,000	$	5,000	$20,000		$0	$20,000	$	115,000
9	$	100,000	$	5,000	$25,000		$0	$25,000	$	120,000

On each Account Anniversary thereafter, your Fee Base is recalculated and reset if necessary.

Your IOD III Escalator Fee will not change during an Account Year, unless you take one of the following specific actions:

• If you make an additional Purchase Payment during your first Account Year, you will increase your Fee Base and thus your IOD III Escalator Fee.

• If you make an Early Withdrawal or an Excess Withdrawal, you will decrease your Fee Base and thus your IOD III Escalator Fee.

In addition, on your Account Anniversary, the IOD III Escalator Fee may also change, if we increase the percentage used to calculate the IOD III Escalator Fee as described below under “Step-Up Under IOD III Escalator.”

The investment performance of the Designated Funds will not affect your IOD III Escalator Fee during an Account Year. However, as stated below under “Step-Up Under IOD III Escalator,” favorable investment performance may cause the Income Benefit Base to increase on an Account Anniversary, and thus increase your IOD III Escalator Fee.

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We will continue to deduct the IOD III Escalator Fee until you annuitize your Contract, your Account Value reduces to zero, or your benefits under IOD III Escalator are cancelled as described under “Cancellation of IOD III Escalator” in this Appendix.

Step-Up Under IOD III Escalator

Regardless of your age on the Issue Date, on each Account Anniversary prior to your Annuity Commencement Date, we will automatically step-up your Income Benefit Base, provided that you satisfy certain requirements. First, you must meet eligibility requirements:

• Your Account Value less your Stored Income Balance must equal no more than $5,000,000. (For purposes of determining the $5,000,000 limit, we reserve the right, in our sole discretion, to aggregate your Account Value with the account values of all other variable annuity contracts you own issued by Delaware Life or its affiliates.)

• Your Account Value minus your Stored Income Balance must be greater than your current Income Benefit Base. (If you have not yet reached your Stored Income Period and therefore do not yet have a Stored Income Balance, your Account Value must only be greater than your current Income Benefit Base.)

Second, if you satisfy the eligibility requirements, we then consider whether market conditions have caused us to increase the percentage rate used to calculate the IOD III Escalator Fee on newly issued Contracts. Since we are no longer issuing Contracts with IOD III Escalator, the percentage rate we use to calculate your IOD III Escalator Fee will be set based upon current market conditions at that time.

• If we have not had to increase the percentage rate as described above, the percentage rate we use to calculate your IOD III Escalator Fee will remain unchanged and we will automatically step-up your Income Benefit Base.

• If we have had to increase the percentage rate as described above, we offer you the opportunity to step-up at the higher percentage rate. In this case, your written consent is required to accept the higher percentage rate used to calculate your IOD III Escalator Fee and step-up your Income Benefit Base. If you do not consent to the step-up and higher percentage, the step-up will not be implemented and all subsequent step-ups of your Income Benefit Base will also be suspended. You may thereafter submit an election form to us, however, in order to consent to the then-applicable percentage rate and thus reactivate subsequent automatic step-ups.

At the time of step-up, we will increase your Income Benefit Base to an amount equal to your Account Value less your Stored Income Balance, if any, provided that such amount exceeds your current Income Benefit Base. Here is an example of how step-up works under IOD III Escalator:

Assume that you are 65 years old when you purchase a Contract with an initial Purchase Payment of $100,000, and that you elect to participate in IOD III Escalator with single-life coverage and do not take any withdrawals. (If you selected joint-life coverage, the numbers shown in the example could be different.) Your Income Benefit Base is equal to your initial Purchase Payment. Your Annual Income Amount is $5,000 (5% of your Income Benefit Base). Your initial Stored Income Balance is $5,000.

Assume that your Account Value grows to $103,000 by the end of Account Year 1. Because your Account Value minus your Stored Income Balance ($103,000 - $5,000) is less than your current Income Benefit Base, you will not step-up.

Assume further that your Account Value grows to $113,000 by the end of Account Year 2. Because your Account Value minus your Stored Income Balance ($113,000 - $10,000) is greater than your current Income Benefit Base ($100,000), you will step-up. Your new Income Benefit Base will equal your Account Value minus your Stored Income Balance ($103,000). Your new Annual Income Amount will be $5,150 (5% of your new Income Benefit Base).

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Assume further that your Account Value grows to $125,150 by the end of Account Year 3. Because your Account Value minus your Stored Income Balance ($125,150 - $15,150) is greater than your current Income Benefit Base ($103,000), you will step-up again. Your new Income Benefit Base will equal your Account Value minus your Stored Income Balance ($110,000). Your new Annual Income Amount will be $5,500 (5% of your new Income Benefit Base).

Account Year	Account Value End of Year	Stored Income Balance Beginning of Year	Income Benefit Base End of Year	Annual Income Amount End of Year	Withdrawals
1	$103,000	$5,000	$100,000	$5,000	0
2	$113,000	$10,000	$103,000	$5,150	0
3	$125,150	$15,150	$110,000	$5,500	0

Your Lifetime Income Percentage will increase if your age at the time of step-up coincides with a higher percentage as shown below. After the step-up, your Annual Income Amount will be your Lifetime Income Percentage multiplied by your new Income Benefit Base. Your Lifetime Income Percentage is determined, based upon your age at time of step-up, as follows:

Your Age at Step-up*	Lifetime Income Percentage
50 - 64	4%
65 - 79	5%
80 or older	6%

* If you elected joint-life coverage, the age ranges are based upon the age of the younger spouse as described below under “Joint-Life Coverage.”

The above example assumes that you are age 65 at issue, so your Lifetime Income Percentage is set to 5%. Assume instead you are age 77 at issue and have attained age 80 by the end of Account Year 3. When your Income Benefit Base steps-up to $110,000 your new Lifetime Income Percentage is 6% since you are now age 80. Your Annual Income Amount is now $6,600 and your Stored Income Balance becomes $21,750 at the beginning of Account Year 4.

Joint-Life Coverage

On the Issue Date, you have the option of electing IOD III Escalator with single-life coverage or, for a higher IOD III Escalator Fee, with joint-life coverage. Once you make the election, you cannot switch between joint-life and single-life coverage, regardless of any change in life events. Joint-life coverage is not available if you are unmarried on the Issue Date.

Joint-life coverage can be elected on an individually-owned Contract or on a co-owned Contract. On an individually-owned Contract, joint-life coverage is available only if your spouse is the sole primary Beneficiary on the Issue Date and remains the sole primary Beneficiary while IOD III Escalator is in effect. On a co-owned Contract, joint-life coverage is available only if you and your spouse are the only co-owners on the Issue Date and remain so while IOD III Escalator is in effect. Whereas single-life coverage provides an Annual Income Amount only until any Participant dies, joint-life coverage provides an Annual Income Amount for as long as either you or your spouse is alive. Note that, for joint-life coverage to continue after the death of any Participant, the surviving spouse must elect to continue the contract through the “Spousal Continuance” provision. See also “Death of Participant Under IOD III Escalator with Joint-Life Coverage” in this Appendix.

If you have elected joint-life coverage, the Stored Income Period will be your Issue Date if the younger spouse is at least age 50. Otherwise it will be the first Account Anniversary after the younger spouse attains (or would have attained) age 50 if the younger spouse is less than age 50 on the Issue Date. (For purposes of joint-life coverage, the younger spouse refers to the person who was the younger spouse on the Issue Date, even if that person has died or is no longer married to the person who was his or her spouse on the Issue Date.) The First Withdrawal Date will be your

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Issue Date if the younger spouse is at least age 59. Otherwise it will be the first Account Anniversary after the younger spouse attains (or would have attained) age 59. The Lifetime Income Percentage will be based on the age of the younger spouse, as shown in the table below.

Age of Younger Spouse at Step-up	Lifetime Income Percentage
50 - 64	4%
65 - 79	5%
80 or older	6%

The Lifetime Income Percentage may increase, in the future, if the age of the younger spouse at time of step-up coincides with a higher percentage as shown in the above table.

The two spouses on the Issue Date are the only two people covered under the joint-life feature. If a Participant remarries, the new spouse is not covered under the joint-life feature. Therefore, if the spouse on the Issue Date is no longer your spouse, your benefits under IOD III Escalator continue for your life and, when you die, annual withdrawals are no longer available. Note that, when you elect joint-life coverage, you also elect the higher joint-life fee. The percentage rate of the fee will not be reduced regardless of any change in life events.

Cancellation of IOD III Escalator

Should you decide that IOD III Escalator is no longer appropriate for you, you may cancel IOD III Escalator at any time. Upon cancellation, all benefits and charges under IOD III Escalator shall cease. Once cancelled, IOD III Escalator cannot be reinstated.

Although transfers among the Designated Funds are permitted as described under “Transfer Privilege” in the prospectus to which this Appendix is attached, IOD III Escalator will be cancelled automatically:

• if any Purchase Payment is allocated to an investment option other than a Designated Fund; or

• if any portion of Account Value maintained in a Designated Fund is transferred into an investment option other than a Designated Fund.

IOD III Escalator will also be cancelled for any of the following:

• upon a termination of the Contract;

• upon annuitization*; or

• your Income Benefit Base is reduced to zero as a result of Early or Excess Withdrawals.

* Note that the Maximum Annuity Commencement Date permitted under this Contract is the first day of the month following the Annuitant’s 95^th birthday. See “Selection of Annuity Commencement Date” in the prospectus to which this Appendix is attached.

A change of ownership may also cancel your benefits under IOD III Escalator.

Death of Participant Under IOD III Escalator with Single-Life Coverage

If you elected single-life coverage, IOD III Escalator terminates on the death of any Participant and the Beneficiary may elect to exercise any of the available options under the Death Benefit provisions of the Contract. Alternately, the Beneficiary may elect to receive the Stored Income Balance.

Note that single-life coverage may be inappropriate on a co-owned Contract, because all living benefits will end on the death of any Participant. Note also that Beneficiaries who are not spouses cannot continue the Contract (see “Spousal Continuance” in the prospectus to which this Appendix is attached) or any living benefits under the Contract.

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Death of Participant Under IOD III Escalator with Joint-Life Coverage

If the surviving spouse on the Death Benefit Date was not the spouse of a Participant on the original Contract’s Issue Date, then this section does not apply, even if joint-life coverage was elected. In such case, if a Participant dies while participating in IOD III Escalator, the provisions of the section above titled “Death of Participant Under IOD III Escalator with Single-Life Coverage” will apply.

If you purchased joint-life coverage and one of the Participants dies, IOD III Escalator will continue, provided that the surviving spouse, as the sole primary beneficiary, continues the Contract. In such case:

• the new Account Value will be equal to the Death Benefit;

• the Stored Income Balance will remain unchanged;

• the Income Benefit Base will remain unchanged until the next Account Anniversary when a step-up could apply due to an increase in the Account Value (see “Step-Up Under IOD III Escalator” in this Appendix);

• if the Stored Income Period has not yet begun, the Lifetime Income Percentage will be determined when the Stored Income Period begins (i.e., on the first Account Anniversary following the date the younger spouse attains (or would have attained) age 50);

• if the Stored Income Period has already begun, the Lifetime Income Percentage will be the Lifetime Income Percentage that applied to the Contract prior to the death of the Participant;

• on each Account Anniversary, the Annual Income Amount will be equal to the Income Benefit Base multiplied by the Lifetime Income Percentage; and

• the percentage rate of the IOD III Escalator Fee for the joint-life coverage option will continue for the surviving spouse as it was immediately prior to the death of the Participant.

At the death of the surviving spouse, the Contract, including IOD III Escalator, terminates.

If you purchased joint-life coverage and the deceased Participant’s surviving spouse does not continue the Contract, your Beneficiary may elect any available option under the Death Benefit provisions of the Contract.

Annuitization Under IOD III Escalator

Under the terms of IOD III Escalator, if your Account Value is greater than zero on your Maximum Annuity Commencement Date, you may elect to:

(1) surrender your Contract and receive your Cash Surrender Value (or your Stored Income Balance, if greater);

(2) annuitize your Account Value under one of the Annuity Options available on that date; or

(3) (a) receive any remaining Stored Income Balance in a single sum and (b) annuitize your remaining Account Value as a single-life annuity (or a joint-life annuity, if joint-life coverage was elected at issue and you are still eligible to receive it) with an annualized annuity payment of not less than the Lifetime Income Percentage multiplied by your then current Income Benefit Base.

If you make no election, we will default your choice to option 3.

If your Account Value has been reduced to zero (other than as a result of an Early Withdrawal or an Excess Withdrawal), and your Income Benefit Base is greater than zero on or before your Maximum Annuity Commencement Date, you will receive your full Annual Income Amount each year until you die. For a more complete discussion of this, see “Depleting Your Account Value” in this Appendix.

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Certain Tax Provisions

Certain state and federal income tax provisions may be important to you in connection with a living benefit, such as IOD III Escalator. If you elected to participate in IOD III Escalator, you may withdraw annual amounts up to the Yearly RMD Amount without affecting your benefit, subject to the conditions stated below. In the event that your Yearly RMD Amount attributable to your Contract is greater than your Stored Income Balance, we are currently waiving the withdrawal provisions under IOD III Escalator as follows. If you withdraw all or a portion of your Qualified Contract’s Yearly RMD Amount from the Contract while participating in IOD III Escalator, we reduce your Account Value and your Stored Income Balance, dollar for dollar, by the amount of the withdrawal to a value not less than zero. We will not, however, penalize you if the current Federal Tax Laws require you to withdraw from your Contract an amount greater than your Stored Income Balance. In other words, if a Yearly RMD Amount exceeds your Stored Income Balance, we will reduce your Stored Income Balance, but we will not reduce your Income Benefit Base, provided that:

• you withdraw your Qualified Contract’s first Yearly RMD Amount in the calendar year you attain age 72 rather than postponing the withdrawal of that Amount until the first quarter of the next calendar year, and

• you do not make any withdrawal from your Qualified Contract that would result in you receiving, in any Account Year, more than one calendar year’s Yearly RMD Amount.

Currently, any withdrawal in excess of the Annual Income Amount or Stored Income Balance that is taken to satisfy the Yearly RMD Amounts will not be treated as an Excess Withdrawal, and will not reduce the Income Benefit Base. However, if there is any material change to the current Code or IRS Rules governing the timing or determination of required minimum distribution amounts, then the Company reserves the right to treat any withdrawal greater than the Annual Income Amount or Stored Income Balance as an Excess Withdrawal which may significantly reduce the Income Benefit Base.

For a further discussion of some of these provisions, please refer to “Impact of Optional Death Benefits and Optional Living Benefits” under “TAX PROVISIONS” in the prospectus to which this Appendix is attached.

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APPENDIX S - BUILD YOUR OWN PORTFOLIO

This Appendix sets forth the Funds and percentage limits that constitute the “build your own portfolio” program. This program is more fully described under “BUILD YOUR OWN PORTFOLIO” in the Prospectus. Briefly, if you comply with this program, the portfolio you build will satisfy the Designated Funds requirement under certain optional living benefits. If you do not comply with the allocation percentage limits in effect under your Contract, your selection of the Build Your Own Portfolio model will not qualify as a Designated Fund and your participation in the living benefit will be cancelled. For Contracts with the Income Riser with 7% bonus, the following is the Build Your Own Portfolio model that applies to your Contract.

Fixed Income Funds	Core Retirement Strategies Funds	Asset Allocation Funds	Core Equity Funds	Growth Equity Funds	Specialty Funds
30% to 50%	40% to 60%	10% to 30%	0% to 20%	0% to 20%	0% to 10%
MFS® Total Return Bond Series	AB Dynamic Asset Allocation Portfolio	AB Balanced Wealth Strategy Portfolio	Lord Abbett Series Fund, Inc. - Fundamental Equity Portfolio	Franklin Small Cap Value VIP Fund	Franklin Strategic Income VIP Fund
MFS® Government Securities Portfolio	PIMCO Global Managed Asset Allocation Portfolio	Fidelity® Balanced Portfolio (of Variable Insurance Products Fund III)	MFS® Value Series	MFS® Blended Research Small Cap Equity Portfolio	PIMCO Emerging Markets Bond Portfolio
MFS® Corporate Bond Portfolio	MFS® Global Tactical Allocation Portfolio	Franklin Income VIP Fund	Invesco V.I. Comstock Fund	Invesco Oppenheimer V.I. Capital Appreciation Fund	MFS® Global Real Estate Portfolio
MFS® U.S. Government Money Market Portfolio	MFS® Moderate Allocation Portfolio	MFS® Total Return Series	Franklin Mutual Shares VIP Fund	Lord Abbett Series Fund, Inc. - Growth Opportunities Portfolio	PIMCO CommodityRealReturn® Strategy Portfolio
MFS® Limited Maturity Portfolio	MFS® Conservative Allocation Portfolio	Invesco V.I. Equity and Income Fund	MFS® Utilities Series	MFS® International Intrinsic Value Portfolio	MFS® Emerging Markets Equity Portfolio
MFS® Inflation- Adjusted Bond Portfolio	PIMCO All Asset Portfolio	Fidelity® Freedom 2015 Portfolio (of Variable Insurance Products Fund IV)	MFS® Core Equity Portfolio	MFS® Research International Portfolio	MFS® High Yield Portfolio
JPMorgan Insurance Trust Core Bond Portfolio	Putnam VT Multi-Asset Absolute Return Fund	Fidelity® Freedom 2020 Portfolio (of Variable Insurance Products Fund IV)	MFS® Research Series	Templeton Growth VIP Fund	Lazard Retirement Emerging Markets Equity Portfolio
		MFS® Growth Allocation Portfolio	Rational Trend Aggregation VA Fund1	First Eagle Overseas Variable Fund	Templeton Global Bond VIP Fund
		BlackRock Global Allocation V.I. Fund	MFS® Mid Cap Value Portfolio	Invesco Oppenheimer V.I. Global Fund
			JPMorgan Insurance Trust U.S. Equity Portfolio	Columbia Variable Portfolio - Overseas Core Fund
			Putnam VT Equity Income Fund	Fidelity® Mid Cap Portfolio (of Variable Insurance Products Fund III)
				MFS® International Growth Portfolio
				MFS® Growth Series

262

Fixed Income Funds	Core Retirement Strategies Funds	Asset Allocation Funds	Core Equity Funds	Growth Equity Funds	Specialty Funds
30% to 50%	40% to 60%	10% to 30%	0% to 20%	0% to 20%	0% to 10%
				CTIVPSM - Loomis Sayles Growth Fund
				Columbia Variable Portfolio - Large Cap Growth Fund
				Rational Insider Buying VA Fund1
				MFS® Mid Cap Growth Series
				Morgan Stanley Variable Insurance Fund, Inc. Discovery Portfolio
				Invesco V.I. American Value Fund
				AB International Growth Portfolio
				Fidelity® Contrafund® Portfolio (of Variable Insurance Products Fund II)
				MFS® New Discovery Value Portfolio
				MFS® New Discovery Series
				AB Small/Mid Cap Value Portfolio
				Invesco V.I. International Growth Fund
				PIMCO StocksPLUS® Global Portfolio
				Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio

¹  Only available if you purchased your Contract through a Huntington Bank representative.

263

For all Contracts purchased on or after August 17, 2009 and before February 8, 2010, including Contracts with SIR with a 6% bonus, the following is the Build Your Own Portfolio model that applies to your Contract. If you do not comply with the allocation percentage limits in effect under your Contract, your selection of the Build Your Own Portfolio model will not qualify as a Designated Fund and your participation in the living benefit will be cancelled.

Fixed Income Funds	Asset Allocation Funds	Core Equity Funds	Growth Equity Funds	Specialty Funds
30% to 80%	20% to 70%	0% to 50%	0% to 30%	0% to 10%
MFS® Total Return Bond Series	AB Balanced Wealth Strategy Portfolio	Lord Abbett Series Fund, Inc. - Fundamental Equity Portfolio	Franklin Small Cap Value VIP Fund	Franklin Strategic Income VIP Fund
MFS® Government Securities Portfolio	Fidelity® Balanced Portfolio (of Variable Insurance Products Fund III)	MFS® Value Series	MFS® Blended Research Small Cap Equity Portfolio	PIMCO Emerging Markets Bond Portfolio
MFS® Corporate Bond Portfolio	Franklin Income VIP Fund	Invesco V.I. Comstock Fund	Invesco Oppenheimer V.I. Capital Appreciation Fund	MFS® Global Real Estate Portfolio
MFS® U.S. Government Money Market Portfolio	MFS® Total Return Series	Franklin Mutual Shares VIP Fund	Lord Abbett Series Fund, Inc. - Growth Opportunities Portfolio	PIMCO CommodityRealReturn® Strategy Portfolio
MFS® Limited Maturity Portfolio	Invesco V.I. Equity and Income Fund	MFS® Utilities Series	MFS® International Intrinsic Value Portfolio	MFS® Emerging Markets Equity Portfolio
MFS® Inflation-Adjusted Bond Portfolio	Fidelity® Freedom 2015 Portfolio (of Variable Insurance Products Fund IV)	MFS® Core Equity Portfolio	MFS® Research International Portfolio	MFS® High Yield Portfolio
JPMorgan Insurance Trust Core Bond Portfolio	Fidelity® Freedom 2020 Portfolio (of Variable Insurance Products Fund IV)	MFS® Research Series	Templeton Growth VIP Fund	Lazard Retirement Emerging Markets Equity Portfolio
	MFS® Conservative Allocation Portfolio	Rational Trend Aggregation VA Fund1	First Eagle Overseas Variable Fund	PIMCO All Asset Portfolio
	MFS® Moderate Allocation Portfolio	MFS® Mid Cap Value Portfolio	Invesco Oppenheimer V.I. Global Fund	Templeton Global Bond VIP Fund
	MFS® Growth Allocation Portfolio	JPMorgan Insurance Trust U.S. Equity Portfolio	Columbia Variable Portfolio - Overseas Core Fund
	BlackRock Global Allocation V.I. Fund	Putnam VT Equity Income Fund	Fidelity® Mid Cap Portfolio (of Variable Insurance Products Fund III)
	PIMCO Global Managed Asset Allocation Portfolio		MFS® International Growth Portfolio
	MFS® Global Tactical Allocation Portfolio		MFS® Growth Series
	AB Dynamic Asset Allocation Portfolio		CTIVPSM - Loomis Sayles Growth Fund
	Putnam VT Multi-Asset Absolute Return Fund		Columbia Variable Portfolio - Large Cap Growth Fund
			Rational Insider Buying VA Fund1
			MFS® Mid Cap Growth Series
			Morgan Stanley Variable Insurance Fund Inc. Discovery Portfolio

264

Fixed Income Funds	Asset Allocation Funds	Core Equity Funds	Growth Equity Funds	Specialty Funds
30% to 80%	20% to 70%	0% to 50%	0% to 30%	0% to 10%
			Invesco V.I. American Value Fund
			AB International Growth Portfolio
			Fidelity® Contrafund® Portfolio (of Variable Insurance Products Fund II)
			MFS® New Discovery Value Portfolio
			MFS® New Discovery Series
			AB Small/Mid Cap Value Portfolio
			Invesco V.I. International Growth Fund
			PIMCO StocksPLUS® Global Portfolio
			Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio

¹  Only available if you purchased your Contract through a Huntington Bank representative.

265

For Contracts purchased after February 16, 2009, and prior to August 17, 2009, the following is the Build Your Own Portfolio model that applies to your Contract. If you do not comply with the allocation percentage limits in effect under your Contract, your selection of the Build Your Own Portfolio model will not qualify as a Designated Fund and your participation in the living benefit will be cancelled.

Fixed Income Funds	Asset Allocation Funds	Core Equity Funds	Growth Equity Funds	Specialty Funds
30% to 80%	0% to 70%	0% to 70%	0% to 30%	0% to 10%
MFS® Total Return Bond Series	AB Balanced Wealth Strategy Portfolio	Lord Abbett Series Fund, Inc. - Fundamental Equity Portfolio	Franklin Small Cap Value VIP Fund	Franklin Strategic Income VIP Fund
MFS® Government Securities Portfolio	Fidelity® Balanced Portfolio (of Variable Insurance Products Fund III)	MFS® Value Series	MFS® Blended Research Small Cap Equity Portfolio	PIMCO Emerging Markets Bond Portfolio
MFS® Corporate Bond Portfolio	Franklin Income VIP Fund	Invesco V.I. Comstock Fund	Invesco Oppenheimer V.I. Capital Appreciation Fund	MFS® Global Real Estate Portfolio
MFS® U.S. Government Money Market Portfolio	MFS® Total Return Series	Franklin Mutual Shares VIP Fund	Lord Abbett Series Fund, Inc. - Growth Opportunities Portfolio	PIMCO CommodityRealReturn® Strategy Portfolio
MFS® Limited Maturity Portfolio	Invesco Oppenheimer V.I. Conservative Balanced Fund	MFS® Utilities Series	MFS® International Intrinsic Value Portfolio	MFS® Emerging Markets Equity Portfolio
MFS® Inflation-Adjusted Bond Portfolio	Invesco V.I. Equity and Income Fund	MFS® Core Equity Portfolio	MFS® Research International Portfolio	MFS® High Yield Portfolio
JPMorgan Insurance Trust Core Bond Portfolio	Fidelity® Freedom 2015 Portfolio (of Variable Insurance Products Fund IV)	MFS® Research Series	Templeton Growth VIP Fund	Lazard Retirement Emerging Markets Equity Portfolio
	Fidelity® Freedom 2020 Portfolio (of Variable Insurance Products Fund IV)	Rational Trend Aggregation VA Fund1	First Eagle Overseas Variable Fund	PIMCO All Asset Portfolio
	MFS® Moderate Allocation Portfolio	MFS® Mid Cap Value Portfolio	Invesco Oppenheimer V.I. Global Fund	Templeton Global Bond VIP Fund
	MFS® Conservative Allocation Portfolio	JPMorgan Insurance Trust U.S. Equity Portfolio	Columbia Variable Portfolio - Overseas Core Fund
	MFS® Growth Allocation Portfolio	Putnam VT Equity Income Fund	Fidelity® Mid Cap Portfolio (of Variable Insurance Products Fund III)
	BlackRock Global Allocation V.I. Fund		MFS® International Growth Portfolio
	PIMCO Global Managed Asset Allocation Portfolio		MFS® Growth Series
	MFS® Global Tactical Allocation Portfolio		CTIVPSM - Loomis Sayles Growth Fund
	AB Dynamic Asset Allocation Portfolio		Columbia Variable Portfolio - Large Cap Growth Fund
	Putnam VT Multi-Asset Absolute Return Fund		Rational Insider Buying VA Fund1
			MFS® Mid Cap Growth Series

266

Fixed Income Funds	Asset Allocation Funds	Core Equity Funds	Growth Equity Funds	Specialty Funds
30% to 80%	0% to 70%	0% to 70%	0% to 30%	0% to 10%
			Morgan Stanley Variable Insurance Fund, Inc. Discovery Portfolio
			Invesco V.I. American Value Fund
			AB International Growth Portfolio
			Fidelity® Contrafund® Portfolio (of Variable Insurance Products Fund II)
			MFS® New Discovery Value Portfolio
			MFS® New Discovery Series
			AB Small/Mid Cap Value Portfolio
			Invesco V.I. International Growth Fund
			PIMCO StocksPLUS® Global Portfolio
			Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio

¹  Only available if you purchased your Contract through a Huntington Bank representative.

267

For Contracts purchased prior to February 17, 2009, the following is the Build Your Own Portfolio model that applies to your Contract. If you do not comply with the allocation percentage limits in effect under your Contract, your selection of the Build Your Own Portfolio model will not qualify as a Designated Fund and your participation in the living benefit will be cancelled.

Fixed Income Funds	Asset Allocation Funds	Core Equity Funds	Growth Equity Funds	Specialty Funds
25% to 80%	0% to 75%	0% to 75%	0% to 30%	0% to 10%
PIMCO Total Return Portfolio7	AB Balanced Wealth Strategy Portfolio8	Lord Abbett Series Fund, Inc. - Fundamental Equity Portfolio	Franklin Small Cap Value VIP Fund	Franklin Strategic Income VIP Fund
MFS® Total Return Bond Series	Fidelity® Balanced Portfolio (of Variable Insurance Products Fund III)	MFS® Value Series	MFS® Blended Research Small Cap Equity Portfolio	MFS® High Yield Portfolio8
MFS® Government Securities Portfolio	Franklin Income VIP Fund	Invesco V.I. Comstock Fund	Invesco Oppenheimer V.I. Capital Appreciation Fund	PIMCO Emerging Markets Bond Portfolio
MFS® Corporate Bond Portfolio	Franklin Allocation VIP Fund8	Franklin Mutual Shares VIP Fund	Lord Abbett Series Fund, Inc. - Growth Opportunities Portfolio	MFS® Global Real Estate Portfolio
PIMCO Real Return Portfolio7	MFS® Total Return Series	MFS® Utilities Series	Invesco Oppenheimer V.I. Main Street Small Cap Fund®2	PIMCO CommodityRealReturn® Strategy Portfolio
MFS® U.S. Government Money Market Portfolio	Invesco Oppenheimer V.I. Conservative Balanced Fund	MFS® Blended Research® Core Equity Portfolio2	MFS® New Discovery Series	Templeton Developing Markets VIP Fund6
MFS® Limited Maturity Portfolio8	Invesco V.I. Equity and Income Fund8	MFS® Global Research Portfolio2	MFS® Mass Investors Growth Stock Portfolio2	MFS® Emerging Markets Equity Portfolio
MFS® Inflation-Adjusted Bond Portfolio8	Fidelity® Freedom 2010 Portfolio (of Variable Insurance Products Fund IV)7	MFS® Core Equity Portfolio	MFS® International Intrinsic Value Portfolio	MFS® Strategic Income Portfolio1
JPMorgan Insurance Trust Core Bond Portfolio8	Fidelity® Freedom 2015 Portfolio (of Variable Insurance Products Fund IV)	MFS® Research Series	Templeton Foreign VIP Fund6	Lazard Retirement Emerging Markets Equity Portfolio8
	Fidelity® Freedom 2020 Portfolio (of Variable Insurance Products Fund IV)	Invesco Oppenheimer V.I. Main St. Fund®7	MFS® Research International Portfolio	PIMCO All Asset Portfolio
	MFS® Conservative Allocation Portfolio8	Rational Trend Aggregation VA Fund5	Templeton Growth VIP Fund	Templeton Global Bond VIP Fund8
	MFS® Moderate Allocation Portfolio8	MFS® Mid Cap Value Portfolio8	First Eagle Overseas Variable Fund
	MFS® Growth Allocation Portfolio8	JPMorgan Insurance Trust U.S. Equity Portfolio8	Invesco Oppenheimer V.I. Global Fund
	BlackRock Global Allocation V.I. Fund8	Putnam VT Equity Income Fund8	Columbia Variable Portfolio - Overseas Core Fund
	PIMCO Global Managed Asset Allocation Portfolio8		Fidelity® Mid Cap Portfolio (of Variable Insurance Products Fund III)
	MFS® Global Tactical Allocation Portfolio8		Wanger USA3
	AB Dynamic Asset Allocation Portfolio8		Wanger Select3
	Putnam VT Multi-Asset Absolute Return Fund8		Columbia Variable Portfolio - Small Cap Value Fund3

268

Fixed Income Funds	Asset Allocation Funds	Core Equity Funds	Growth Equity Funds	Specialty Funds
25% to 80%	0% to 75%	0% to 75%	0% to 30%	0% to 10%
			MFS® International Growth Portfolio
			MFS® Growth Series
			CTIVPSM - Loomis Sayles Growth Fund4
			Columbia Variable Portfolio - Large Cap Growth Fund4
			MFS® Global Growth Portfolio1
			Rational Insider Buying VA Fund5
			MFS® Mid Cap Growth Series8
			Morgan Stanley Variable Insurance Fund, Inc. Discovery Portfolio8
			Invesco V.I. American Value Fund8
			AB International Growth Portfolio8
			AB International Value Portfolio7, 8
			Fidelity® Contrafund® Portfolio (of Variable Insurance Products Fund II)8
			MFS® New Discovery Value Portfolio8
			AB Small/Mid Cap Value Portfolio8
			Invesco V.I. International Growth Fund8
			PIMCO StocksPLUS® Global Portfolio8
			Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio8

¹  Only available if you purchased your Contract before February 2, 2004.

²  Only available if you purchased your Contract before March 5, 2007.

³  Only available if you purchased your Contract through a Bank of America representative before April 22, 2007.

⁴  Only B Class shares available if you purchased your Contract on or after March 5, 2007. Only A Class shares available if you purchased your Contract through a Bank of America representative before March 5, 2007.

⁵  Only available if you purchased your Contract through a Huntington Bank representative.

⁶  Only available if you purchased your Contract before March 10, 2008.

⁷  Only available if you purchased your Contract before October 20, 2008.

⁸  Not available for investment if you purchased your Contract through a Bank of America representative between April 25, 2005 and April 20, 2007.

269

APPENDIX T - CONDENSED FINANCIAL INFORMATION

The following information for MASTERS EXTRA should be read in conjunction with the Variable Account’s financial statements appearing in the Statement of Additional Information. The $10 beginning value for each accumulation unit is as of the date the unit commenced, which was generally later than the first day of the year shown. Calculated unit values are provided for portfolios with zero accumulated units at year end.

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
AB Dynamic Asset Allocation Portfolio, Class B		01		2019		11.3432		12.8504		108,297
		01		2018		12.4551		11.3432		126,794
		01		2017		11.0821		12.4551		141,871
		01		2016		10.9067		11.0821		197,543
		01		2015		11.2414		10.9067		198,077
		01		2014		10.9741		11.2414		204,901
		01		2013		9.9737		10.9741		169,621
		01		2012		9.3949		9.9737		21,459
		01		2011		10.0000		9.3949		6,043
		02		2019		11.1680		12.6266		21,868
		02		2018		12.2875		11.1680		23,666
		02		2017		10.9549		12.2875		27,954
		02		2016		10.8034		10.9549		15,190
		02		2015		11.1577		10.8034		15,571
		02		2014		10.9146		11.1577		17,398
		02		2013		9.9398		10.9146		22,236
		02		2012		9.3822		9.9398		3,022
		02		2011		10.0000		9.3822		0
		03		2019		11.1245		12.5710		0
		03		2018		12.2458		11.1245		0
		03		2017		10.9233		12.2458		0
		03		2016		10.7777		10.9233		0
		03		2015		11.1368		10.7777		0
		03		2014		10.8997		11.1368		0
		03		2013		9.9313		10.8997		0
		03		2012		9.3790		9.9313		0
		03		2011		10.0000		9.3790		0
		04		2019		10.9949		12.4059		63,441
		04		2018		12.1215		10.9949		93,753
		04		2017		10.8287		12.1215		126,892
		04		2016		10.7008		10.8287		130,502
		04		2015		11.0743		10.7008		114,189
		04		2014		10.8552		11.0743		94,276
		04		2013		9.9060		10.8552		93,265
		04		2012		9.3695		9.9060		22,811
		04		2011		10.0000		9.3695		0
		05		2019		10.9519		12.3509		0
		05		2018		12.0805		10.9519		0
		05		2017		10.7976		12.0805		0
		05		2016		10.6755		10.7976		0
		05		2015		11.0537		10.6755		0
		05		2014		10.8406		11.0537		0
		05		2013		9.8976		10.8406		0
		05		2012		9.3663		9.8976		0
		05		2011		10.0000		9.3663		0

270

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		10.8245		12.1890		0
		06		2018		11.9578		10.8245		0
		06		2017		10.7040		11.9578		0
		06		2016		10.5992		10.7040		0
		06		2015		10.9916		10.5992		0
		06		2014		10.7962		10.9916		0
		06		2013		9.8722		10.7962		0
		06		2012		9.3568		9.8722		0
		06		2011		10.0000		9.3568		0
		07		2019		10.7822		12.1354		0
		07		2018		11.9172		10.7822		0
		07		2017		10.6730		11.9172		0
		07		2016		10.5739		10.6730		0
		07		2015		10.9710		10.5739		0
		07		2014		10.7815		10.9710		0
		07		2013		9.8638		10.7815		0
		07		2012		9.3536		9.8638		0
		07		2011		10.0000		9.3536		0
		08		2019		10.6142		11.9220		0
		08		2018		11.7555		10.6142		0
		08		2017		10.5496		11.7555		17
		08		2016		10.4731		10.5496		20
		08		2015		10.8887		10.4731		22
		08		2014		10.7226		10.8887		24
		08		2013		9.8301		10.7226		27
		08		2012		9.3409		9.8301		0
		08		2011		10.0000		9.3409		0
AB International Growth Portfolio, Class B		01		2019		8.1679		10.2159		19,439
		01		2018		10.0846		8.1679		23,557
		01		2017		7.6192		10.0846		31,755
		01		2016		8.3406		7.6192		49,505
		01		2015		8.6734		8.3406		72,474
		01		2014		8.9501		8.6734		100,776
		01		2013		8.0346		8.9501		101,778
		01		2012		7.0934		8.0346		87,131
		01		2011		8.5950		7.0934		95,741
		01		2010		7.7645		8.5950		85,051
		02		2019		7.9903		9.9738		21,760
		02		2018		9.8853		7.9903		24,931
		02		2017		7.4836		9.8853		21,858
		02		2016		8.2089		7.4836		33,268
		02		2015		8.5538		8.2089		33,521
		02		2014		8.8447		8.5538		45,668
		02		2013		7.9561		8.8447		80,982
		02		2012		7.0386		7.9561		91,805
		02		2011		8.5459		7.0386		101,495
		02		2010		7.7358		8.5459		102,790

271

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		7.9464		9.9140		0
		03		2018		9.8359		7.9464		0
		03		2017		7.4500		9.8359		0
		03		2016		8.1761		7.4500		0
		03		2015		8.5241		8.1761		0
		03		2014		8.8185		8.5241		0
		03		2013		7.9366		8.8185		820
		03		2012		7.0249		7.9366		0
		03		2011		8.5337		7.0249		0
		03		2010		7.7287		8.5337		0
		04		2019		7.8160		9.7366		12,117
		04		2018		9.6892		7.8160		15,813
		04		2017		7.3499		9.6892		17,011
		04		2016		8.0787		7.3499		23,158
		04		2015		8.4355		8.0787		30,053
		04		2014		8.7402		8.4355		32,707
		04		2013		7.8782		8.7402		39,249
		04		2012		6.9839		7.8782		49,488
		04		2011		8.4969		6.9839		53,755
		04		2010		7.7072		8.4969		50,508
		05		2019		7.7730		9.6780		1,962
		05		2018		9.6410		7.7730		2,088
		05		2017		7.3171		9.6410		2,220
		05		2016		8.0468		7.3171		2,264
		05		2015		8.4063		8.0468		2,265
		05		2014		8.7144		8.4063		2,265
		05		2013		7.8589		8.7144		2,265
		05		2012		6.9704		7.8589		2,266
		05		2011		8.4848		6.9704		2,267
		05		2010		7.7001		8.4848		2,268
		06		2019		7.6455		9.5050		0
		06		2018		9.4970		7.6455		0
		06		2017		7.2186		9.4970		0
		06		2016		7.9507		7.2186		0
		06		2015		8.3187		7.9507		0
		06		2014		8.6368		8.3187		0
		06		2013		7.8010		8.6368		0
		06		2012		6.9297		7.8010		0
		06		2011		8.4482		6.9297		0
		06		2010		7.6787		8.4482		0
		07		2019		7.6034		9.4480		0
		07		2018		9.4495		7.6034		0
		07		2017		7.1862		9.4495		0
		07		2016		7.9190		7.1862		0
		07		2015		8.2898		7.9190		0
		07		2014		8.6112		8.2898		0
		07		2013		7.7818		8.6112		0
		07		2012		6.9162		7.7818		0
		07		2011		8.4361		6.9162		0
		07		2010		7.6715		8.4361		0

272

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		7.4367		9.2221		0
		08		2018		9.2614		7.4367		0
		08		2017		7.0574		9.2614		0
		08		2016		7.2161		7.0574		0
		08		2015		8.1747		7.2161		737,382
		08		2014		8.5091		8.1747		0
		08		2013		7.7053		8.5091		0
		08		2012		6.8624		7.7053		0
		08		2011		8.3875		6.8624		0
		08		2010		7.6431		8.3875		0
AB Small/Mid Cap Value Portfolio, Class B		01		2019		18.5807		21.9009		14,711
		01		2018		22.3165		18.5807		15,535
		01		2017		20.1156		22.3165		19,759
		01		2016		16.3980		20.1156		36,061
		01		2015		17.6887		16.3980		31,765
		01		2014		16.5170		17.6887		37,553
		01		2013		12.2079		16.5170		54,732
		01		2012		10.4838		12.2079		11,775
		01		2011		10.0000		10.4838		2,390
		02		2019		18.3079		21.5363		16,845
		02		2018		22.0333		18.3079		17,760
		02		2017		19.9003		22.0333		17,015
		02		2016		16.2555		19.9003		16,311
		02		2015		17.5708		16.2555		19,900
		02		2014		16.4403		17.5708		12,777
		02		2013		12.1760		16.4403		14,327
		02		2012		10.4779		12.1760		867
		02		2011		10.0000		10.4779		0
		03		2019		18.2401		21.4457		2,710
		03		2018		21.9628		18.2401		2,313
		03		2017		19.8466		21.9628		2,430
		03		2016		16.2199		19.8466		1,343
		03		2015		17.5413		16.2199		1,016
		03		2014		16.4211		17.5413		1,568
		03		2013		12.1680		16.4211		2,052
		03		2012		10.4764		12.1680		0
		03		2011		10.0000		10.4764		0
		04		2019		18.0383		21.1765		6,134
		04		2018		21.7528		18.0383		6,873
		04		2017		19.6865		21.7528		10,389
		04		2016		16.1137		19.6865		4,357
		04		2015		17.4532		16.1137		3,352
		04		2014		16.3637		17.4532		4,469
		04		2013		12.1441		16.3637		9,516
		04		2012		10.4719		12.1441		0
		04		2011		10.0000		10.4719		0
		05		2019		17.9713		21.0867		0
		05		2018		21.6833		17.9713		0
		05		2017		19.6338		21.6833		0
		05		2016		16.0787		19.6338		0
		05		2015		17.4242		16.0787		0
		05		2014		16.3448		17.4242		0
		05		2013		12.1362		16.3448		0
		05		2012		10.4704		12.1362		0
		05		2011		10.0000		10.4704		0

273

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		17.7726		20.8226		0
		06		2018		21.4758		17.7726		0
		06		2017		19.4750		21.4758		0
		06		2016		15.9732		19.4750		0
		06		2015		17.3364		15.9732		0
		06		2014		16.2875		17.3364		0
		06		2013		12.1123		16.2875		0
		06		2012		10.4659		12.1123		0
		06		2011		10.0000		10.4659		0
		07		2019		17.7068		20.7350		0
		07		2018		21.4071		17.7068		0
		07		2017		19.4225		21.4071		0
		07		2016		15.9383		19.4225		0
		07		2015		17.3074		15.9383		0
		07		2014		16.2685		17.3074		0
		07		2013		12.1043		16.2685		0
		07		2012		10.4644		12.1043		0
		07		2011		10.0000		10.4644		0
		08		2019		17.4446		20.3866		0
		08		2018		21.1333		17.4446		0
		08		2017		19.2131		21.1333		0
		08		2016		15.7988		19.2131		0
		08		2015		17.1912		15.7988		0
		08		2014		16.1925		17.1912		0
		08		2013		12.0725		16.1925		0
		08		2012		10.4584		12.0725		0
		08		2011		10.0000		10.4584		0
AB Balanced Wealth Strategy Portfolio, Class B		01		2019		13.8032		16.0391		120,340
		01		2018		15.0044		13.8032		140,731
		01		2017		13.2003		15.0044		236,271
		01		2016		12.8573		13.2003		280,903
		01		2015		12.9125		12.8573		384,657
		01		2014		12.2639		12.9125		385,924
		01		2013		10.7298		12.2639		395,178
		01		2012		9.6284		10.7298		439,186
		01		2011		10.1034		9.6284		603,121
		01		2010		9.3185		10.1034		665,955
		02		2019		13.5031		15.6590		70,000
		02		2018		14.7078		13.5031		73,740
		02		2017		12.9654		14.7078		88,382
		02		2016		12.6542		12.9654		101,143
		02		2015		12.7345		12.6542		118,945
		02		2014		12.1195		12.7345		127,918
		02		2013		10.6251		12.1195		141,953
		02		2012		9.5540		10.6251		144,028
		02		2011		10.0457		9.5540		149,808
		02		2010		9.2841		10.0457		183,798

274

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		13.4289		15.5651		0
		03		2018		14.6344		13.4289		0
		03		2017		12.9072		14.6344		0
		03		2016		12.6038		12.9072		0
		03		2015		12.6903		12.6038		3,531
		03		2014		12.0835		12.6903		0
		03		2013		10.5990		12.0835		246
		03		2012		9.5354		10.5990		252
		03		2011		10.0312		9.5354		3,405
		03		2010		9.2755		10.0312		854
		04		2019		13.2086		15.2867		65,037
		04		2018		14.4162		13.2086		73,558
		04		2017		12.7339		14.4162		83,682
		04		2016		12.4537		12.7339		101,489
		04		2015		12.5583		12.4537		110,212
		04		2014		11.9763		12.5583		55,058
		04		2013		10.5211		11.9763		58,205
		04		2012		9.4799		10.5211		43,433
		04		2011		9.9881		9.4799		65,981
		04		2010		9.2498		9.9881		176,218
		05		2019		13.1360		15.1947		0
		05		2018		14.3444		13.1360		0
		05		2017		12.6771		14.3444		0
		05		2016		12.4044		12.6771		0
		05		2015		12.5150		12.4044		0
		05		2014		11.9410		12.5150		0
		05		2013		10.4954		11.9410		0
		05		2012		9.4616		10.4954		0
		05		2011		9.9739		9.4616		0
		05		2010		9.2413		9.9739		0
		06		2019		12.9205		14.9233		0
		06		2018		14.1303		12.9205		0
		06		2017		12.5066		14.1303		0
		06		2016		12.2564		12.5066		0
		06		2015		12.3846		12.2564		0
		06		2014		11.8348		12.3846		0
		06		2013		10.4180		11.8348		0
		06		2012		9.4064		10.4180		0
		06		2011		9.9309		9.4064		0
		06		2010		9.2156		9.9309		0
		07		2019		12.8495		14.8337		0
		07		2018		14.0597		12.8495		0
		07		2017		12.4504		14.0597		0
		07		2016		12.2075		12.4504		0
		07		2015		12.3416		12.2075		0
		07		2014		11.7997		12.3416		0
		07		2013		10.3924		11.7997		0
		07		2012		9.3881		10.3924		0
		07		2011		9.9166		9.3881		0
		07		2010		9.2071		9.9166		5,947

275

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		12.5679		14.4793		0
		08		2018		13.7798		12.5679		0
		08		2017		12.2273		13.7798		0
		08		2016		12.0134		12.2273		0
		08		2015		12.1703		12.0134		0
		08		2014		11.6598		12.1703		0
		08		2013		10.2903		11.6598		0
		08		2012		9.3150		10.2903		0
		08		2011		9.8596		9.3150		0
		08		2010		9.1729		9.8596		0
AB International Value Portfolio, Class B		01		2019		6.5517		7.5219		363,866
		01		2018		8.6538		6.5517		422,543
		01		2017		7.0368		8.6538		454,695
		01		2016		7.2161		7.0368		608,138
		01		2015		7.1687		7.2161		737,382
		01		2014		7.7964		7.1687		1,023,447
		01		2013		6.4623		7.7964		1,114,438
		01		2012		5.7574		6.4623		1,299,668
		01		2011		7.2700		5.7574		1,438,892
		01		2010		7.0907		7.2700		1,363,080
		02		2019		6.4092		7.3436		209,954
		02		2018		8.4827		6.4092		232,743
		02		2017		6.9115		8.4827		245,905
		02		2016		7.1021		6.9115		315,642
		02		2015		7.0698		7.1021		399,454
		02		2014		7.7045		7.0698		588,860
		02		2013		6.3992		7.7045		638,282
		02		2012		5.7128		6.3992		708,751
		02		2011		7.2284		5.7128		792,323
		02		2010		7.0646		7.2284		895,749
		03		2019		6.3739		7.2996		9,284
		03		2018		8.4403		6.3739		10,019
		03		2017		6.8805		8.4403		9,153
		03		2016		7.0738		6.8805		15,200
		03		2015		7.0452		7.0738		14,177
		03		2014		7.6817		7.0452		17,337
		03		2013		6.3835		7.6817		17,158
		03		2012		5.7017		6.3835		26,932
		03		2011		7.2181		5.7017		28,054
		03		2010		7.0580		7.2181		14,878
		04		2019		6.2693		7.1689		56,668
		04		2018		8.3144		6.2693		59,616
		04		2017		6.7881		8.3144		52,479
		04		2016		6.9895		6.7881		57,180
		04		2015		6.9720		6.9895		69,234
		04		2014		7.6135		6.9720		84,566
		04		2013		6.3365		7.6135		88,266
		04		2012		5.6685		6.3365		99,205
		04		2011		7.1870		5.6685		114,500
		04		2010		7.0384		7.1870		119,154

276

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		6.2348		7.1258		0
		05		2018		8.2730		6.2348		0
		05		2017		6.7578		8.2730		0
		05		2016		6.9618		6.7578		0
		05		2015		6.9479		6.9618		0
		05		2014		7.5910		6.9479		0
		05		2013		6.3210		7.5910		0
		05		2012		5.6575		6.3210		0
		05		2011		7.1767		5.6575		0
		05		2010		7.0319		7.1767		1,598
		06		2019		6.1325		6.9984		0
		06		2018		8.1495		6.1325		0
		06		2017		6.6668		8.1495		0
		06		2016		6.8786		6.6668		128
		06		2015		6.8755		6.8786		308
		06		2014		7.5235		6.8755		515
		06		2013		6.2744		7.5235		661
		06		2012		5.6245		6.2744		870
		06		2011		7.1458		5.6245		1,067
		06		2010		7.0124		7.1458		11,730
		07		2019		6.0988		6.9564		0
		07		2018		8.1087		6.0988		0
		07		2017		6.6368		8.1087		0
		07		2016		6.8512		6.6368		0
		07		2015		6.8515		6.8512		0
		07		2014		7.5011		6.8515		0
		07		2013		6.2589		7.5011		89
		07		2012		5.6135		6.2589		5,118
		07		2011		7.1355		5.6135		16,860
		07		2010		7.0059		7.1355		15,167
		08		2019		5.9650		6.7900		0
		08		2018		7.9472		5.9650		0
		08		2017		6.5178		7.9472		0
		08		2016		6.7422		6.5178		0
		08		2015		6.7564		6.7422		0
		08		2014		7.4121		6.7564		0
		08		2013		6.1974		7.4121		0
		08		2012		5.5698		6.1974		0
		08		2011		7.0944		5.5698		0
		08		2010		6.9798		7.0944		0
BlackRock Global Allocation V.I. Fund, Class III		01		2019		15.0285		17.3969		1,718,105
		01		2018		16.5430		15.0285		1,995,941
		01		2017		14.7990		16.5430		2,336,021
		01		2016		14.5030		14.7990		2,928,640
		01		2015		14.9030		14.5030		3,542,400
		01		2014		14.8733		14.9030		4,058,816
		01		2013		13.2241		14.8733		4,467,551
		01		2012		12.2345		13.2241		4,916,293
		01		2011		12.9158		12.2345		5,221,757
		01		2010		11.9706		12.9158		5,477,405

277

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		14.7202		17.0059		546,556
		02		2018		16.2363		14.7202		621,496
		02		2017		14.5538		16.2363		733,394
		02		2016		14.2919		14.5538		868,025
		02		2015		14.7159		14.2919		1,029,619
		02		2014		14.7166		14.7159		1,280,344
		02		2013		13.1114		14.7166		1,294,149
		02		2012		12.1552		13.1114		1,341,007
		02		2011		12.8581		12.1552		1,570,227
		02		2010		11.9414		12.8581		1,547,821
		03		2019		14.6440		16.9093		2,017
		03		2018		16.1604		14.6440		9,016
		03		2017		14.4930		16.1604		6,692
		03		2016		14.2394		14.4930		7,974
		03		2015		14.6695		14.2394		6,557
		03		2014		14.6776		14.6695		13,629
		03		2013		13.0834		14.6776		24,136
		03		2012		12.1354		13.0834		44,740
		03		2011		12.8437		12.1354		45,962
		03		2010		11.9341		12.8437		40,471
		04		2019		14.4173		16.6225		375,759
		04		2018		15.9344		14.4173		437,086
		04		2017		14.3120		15.9344		516,540
		04		2016		14.0831		14.3120		590,609
		04		2015		14.5307		14.0831		760,381
		04		2014		14.5611		14.5307		787,839
		04		2013		12.9994		14.5611		858,689
		04		2012		12.0761		12.9994		941,784
		04		2011		12.8005		12.0761		989,953
		04		2010		11.9122		12.8005		1,023,245
		05		2019		14.3425		16.5276		0
		05		2018		15.8600		14.3425		0
		05		2017		14.2525		15.8600		0
		05		2016		14.0317		14.2525		0
		05		2015		14.4850		14.0317		0
		05		2014		14.5227		14.4850		3,024
		05		2013		12.9717		14.5227		3,019
		05		2012		12.0565		12.9717		3,380
		05		2011		12.7863		12.0565		3,391
		05		2010		11.9050		12.7863		0
		06		2019		14.1205		16.2476		39,274
		06		2018		15.6380		14.1205		39,471
		06		2017		14.0741		15.6380		39,669
		06		2016		13.8773		14.0741		39,868
		06		2015		14.3477		13.8773		40,068
		06		2014		14.4071		14.3477		40,268
		06		2013		12.8883		14.4071		12,218
		06		2012		11.9975		12.8883		17,216
		06		2011		12.7432		11.9975		17,391
		06		2010		11.8831		12.7432		12,616

278

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		14.0473		16.1552		1,324
		07		2018		15.5648		14.0473		1,442
		07		2017		14.0152		15.5648		1,538
		07		2016		13.8264		14.0152		1,667
		07		2015		14.3023		13.8264		1,770
		07		2014		14.3689		14.3023		1,909
		07		2013		12.8606		14.3689		2,034
		07		2012		11.9779		12.8606		2,231
		07		2011		12.7289		11.9779		2,337
		07		2010		11.8759		12.7289		0
		08		2019		13.7568		15.7890		0
		08		2018		15.2741		13.7568		0
		08		2017		13.7814		15.2741		0
		08		2016		13.6236		13.7814		0
		08		2015		14.1215		13.6236		0
		08		2014		14.2164		14.1215		0
		08		2013		12.7503		14.2164		0
		08		2012		11.8996		12.7503		28
		08		2011		12.6717		11.8996		0
		08		2010		11.8467		12.6717		0
CTIVP - Loomis Sayles Growth Fund, Class 1		01		2019		13.0892		16.9533		0
		01		2018		13.6434		13.0892		0
		01		2017		10.4322		13.6434		0
		01		2016		17.7603		10.4322		0
		01		2015		17.6832		17.7603		0
		01		2014		16.4401		17.6832		0
		01		2013		12.3298		16.4401		0
		01		2012		11.1764		12.3298		0
		01		2011		11.6775		11.1764		0
		01		2010		9.7733		11.6775		0
		02		2019		13.0189		16.8285		0
		02		2018		13.5975		13.0189		0
		02		2017		10.4180		13.5975		0
		02		2016		17.3743		10.4180		0
		02		2015		17.3342		17.3743		0
		02		2014		16.1485		17.3342		0
		02		2013		12.1357		16.1485		0
		02		2012		11.0230		12.1357		0
		02		2011		11.5408		11.0230		0
		02		2010		9.6785		11.5408		0
		03		2019		13.0013		16.7973		7,905
		03		2018		13.5860		13.0013		8,279
		03		2017		10.4144		13.5860		0
		03		2016		17.2789		10.4144		0
		03		2015		17.2478		17.2789		0
		03		2014		16.0762		17.2478		0
		03		2013		12.0876		16.0762		0
		03		2012		10.9849		12.0876		0
		03		2011		11.5067		10.9849		0
		03		2010		9.6549		11.5067		0

279

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		12.9487		16.7042		0
		04		2018		13.5516		12.9487		0
		04		2017		10.4037		13.5516		0
		04		2016		16.9954		10.4037		0
		04		2015		16.9909		16.9954		0
		04		2014		15.8610		16.9909		0
		04		2013		11.9441		15.8610		0
		04		2012		10.8713		11.9441		0
		04		2011		11.4051		10.8713		0
		04		2010		9.5843		11.4051		0
		05		2019		12.9308		16.6724		0
		05		2018		13.5400		12.9308		0
		05		2017		10.4002		13.5400		0
		05		2016		16.9027		10.4002		0
		05		2015		16.9067		16.9027		0
		05		2014		15.7905		16.9067		0
		05		2013		11.8970		15.7905		0
		05		2012		10.8339		11.8970		0
		05		2011		11.3717		10.8339		0
		05		2010		9.5610		11.3717		0
		06		2019		12.8789		16.5807		0
		06		2018		13.5058		12.8789		0
		06		2017		10.3895		13.5058		0
		06		2016		16.6248		10.3895		0
		06		2015		16.6544		16.6248		0
		06		2014		15.5787		16.6544		0
		06		2013		11.7555		15.5787		0
		06		2012		10.7216		11.7555		0
		06		2011		11.2710		10.7216		0
		06		2010		9.4910		11.2710		0
		07		2019		12.8615		16.5499		0
		07		2018		13.4944		12.8615		0
		07		2017		10.3859		13.4944		0
		07		2016		16.5335		10.3859		0
		07		2015		16.5713		16.5335		0
		07		2014		15.5089		16.5713		0
		07		2013		11.7088		15.5089		0
		07		2012		10.6845		11.7088		0
		07		2011		11.2378		10.6845		0
		07		2010		9.4678		11.2378		0
		08		2019		12.7916		16.4266		0
		08		2018		13.4485		12.7916		0
		08		2017		10.3716		13.4485		0
		08		2016		16.1716		10.3716		0
		08		2015		16.2419		16.1716		0
		08		2014		15.2319		16.2419		0
		08		2013		11.5232		15.2319		0
		08		2012		10.5369		11.5232		0
		08		2011		11.1052		10.5369		0
		08		2010		9.3753		11.1052		0

280

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
CTIVP - Loomis Sayles Growth Fund, Class 2		01		2019		13.0012		16.7983		66,160
		01		2018		13.5871		13.0012		74,345
		01		2017		10.4161		13.5871		114,736
		01		2016		15.5546		10.4161		162,009
		01		2015		15.5319		15.5546		133,758
		01		2014		14.4737		15.5319		203,008
		01		2013		10.8816		14.4737		232,762
		01		2012		9.8920		10.8816		303,728
		01		2011		10.3560		9.8920		323,126
		01		2010		8.6876		10.3560		276,227
		02		2019		12.9313		16.6746		55,065
		02		2018		13.5413		12.9313		64,480
		02		2017		10.4019		13.5413		78,600
		02		2016		15.2774		10.4019		99,668
		02		2015		15.2861		15.2774		82,256
		02		2014		14.2738		15.2861		98,666
		02		2013		10.7531		14.2738		111,130
		02		2012		9.7953		10.7531		170,211
		02		2011		10.2756		9.7953		170,635
		02		2010		8.6377		10.2756		173,129
		03		2019		12.9138		16.6437		0
		03		2018		13.5299		12.9138		0
		03		2017		10.3983		13.5299		0
		03		2016		15.2086		10.3983		0
		03		2015		15.2251		15.2086		0
		03		2014		14.2240		15.2251		0
		03		2013		10.7211		14.2240		2,821
		03		2012		9.7712		10.7211		3,080
		03		2011		10.2555		9.7712		0
		03		2010		8.6252		10.2555		0
		04		2019		12.8616		16.5514		17,633
		04		2018		13.4956		12.8616		15,569
		04		2017		10.3876		13.4956		17,944
		04		2016		15.0040		10.3876		32,475
		04		2015		15.0434		15.0040		22,918
		04		2014		14.0758		15.0434		26,202
		04		2013		10.6257		14.0758		28,364
		04		2012		9.6991		10.6257		27,678
		04		2011		10.1955		9.6991		33,717
		04		2010		8.5879		10.1955		24,825
		05		2019		12.8438		16.5199		0
		05		2018		13.4841		12.8438		0
		05		2017		10.3841		13.4841		0
		05		2016		14.9370		10.3841		0
		05		2015		14.9837		14.9370		0
		05		2014		14.0271		14.9837		0
		05		2013		10.5943		14.0271		0
		05		2012		9.6754		10.5943		0
		05		2011		10.1757		9.6754		0
		05		2010		8.5756		10.1757		2,083

281

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		12.7923		16.4291		0
		06		2018		13.4501		12.7923		0
		06		2017		10.3734		13.4501		0
		06		2016		14.7357		10.3734		0
		06		2015		14.8045		14.7357		0
		06		2014		13.8807		14.8045		0
		06		2013		10.4998		13.8807		0
		06		2012		9.6039		10.4998		0
		06		2011		10.1160		9.6039		1,350
		06		2010		8.5384		10.1160		0
		07		2019		12.7749		16.3986		0
		07		2018		13.4387		12.7749		0
		07		2017		10.3699		13.4387		0
		07		2016		14.6693		10.3699		0
		07		2015		14.7454		14.6693		0
		07		2014		13.8323		14.7454		0
		07		2013		10.4685		13.8323		0
		07		2012		9.5802		10.4685		0
		07		2011		10.0963		9.5802		0
		07		2010		8.5260		10.0963		0
		08		2019		12.7055		16.2764		0
		08		2018		13.3930		12.7055		0
		08		2017		10.3556		13.3930		0
		08		2016		14.4060		10.3556		0
		08		2015		14.5104		14.4060		0
		08		2014		13.6398		14.5104		0
		08		2013		10.3441		13.6398		0
		08		2012		9.4859		10.3441		0
		08		2011		10.0173		9.4859		0
		08		2010		8.4767		10.0173		0
Columbia Variable Portfolio - Small Cap Value Fund, Class 2		01		2019		18.7994		22.3586		0
		01		2018		23.3719		18.7994		0
		01		2017		20.8577		23.3719		0
		01		2016		15.9847		20.8577		0
		01		2015		17.3578		15.9847		0
		01		2014		17.1352		17.3578		0
		01		2013		13.0046		17.1352		0
		01		2012		11.8923		13.0046		0
		01		2011		12.8878		11.8923		0
		01		2010		10.3669		12.8878		0
		02		2019		18.2797		21.6970		0
		02		2018		22.7717		18.2797		0
		02		2017		20.3628		22.7717		0
		02		2016		15.6372		20.3628		0
		02		2015		17.0151		15.6372		0
		02		2014		16.8312		17.0151		0
		02		2013		12.7999		16.8312		0
		02		2012		11.7291		12.7999		0
		02		2011		12.7368		11.7291		0
		02		2010		10.2663		12.7368		0

282

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		18.1516		21.5341		0
		03		2018		22.6236		18.1516		0
		03		2017		20.2406		22.6236		0
		03		2016		15.5513		20.2406		0
		03		2015		16.9303		15.5513		0
		03		2014		16.7559		16.9303		0
		03		2013		12.7491		16.7559		0
		03		2012		11.6886		12.7491		0
		03		2011		12.6992		11.6886		0
		03		2010		10.2413		12.6992		0
		04		2019		17.7726		21.0528		0
		04		2018		22.1849		17.7726		0
		04		2017		19.8781		22.1849		0
		04		2016		15.2962		19.8781		0
		04		2015		16.6781		15.2962		0
		04		2014		16.5316		16.6781		0
		04		2013		12.5978		16.5316		0
		04		2012		11.5676		12.5978		0
		04		2011		12.5871		11.5676		0
		04		2010		10.1664		12.5871		0
		05		2019		17.6482		20.8945		0
		05		2018		22.0412		17.6482		0
		05		2017		19.7595		22.0412		0
		05		2016		15.2127		19.7595		0
		05		2015		16.5955		15.2127		0
		05		2014		16.4581		16.5955		0
		05		2013		12.5481		16.4581		0
		05		2012		11.5279		12.5481		0
		05		2011		12.5502		11.5279		0
		05		2010		10.1418		12.5502		0
		06		2019		17.2795		20.4276		0
		06		2018		21.6131		17.2795		0
		06		2017		19.4048		21.6131		0
		06		2016		14.9626		19.4048		0
		06		2015		16.3477		14.9626		0
		06		2014		16.2373		16.3477		0
		06		2013		12.3988		16.2373		0
		06		2012		11.4083		12.3988		0
		06		2011		12.4391		11.4083		0
		06		2010		10.0674		12.4391		0
		07		2019		17.1584		20.2741		0
		07		2018		21.4725		17.1584		0
		07		2017		19.2882		21.4725		0
		07		2016		14.8803		19.2882		0
		07		2015		16.2661		14.8803		0
		07		2014		16.1645		16.2661		0
		07		2013		12.3495		16.1645		0
		07		2012		11.3689		12.3495		0
		07		2011		12.4024		11.3689		0
		07		2010		10.0428		12.4024		0

283

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		16.6803		19.6692		0
		08		2018		20.9169		16.6803		0
		08		2017		18.8274		20.9169		0
		08		2016		14.5546		18.8274		0
		08		2015		15.9428		14.5546		0
		08		2014		15.8758		15.9428		0
		08		2013		12.1538		15.8758		0
		08		2012		11.2117		12.1538		0
		08		2011		12.2561		11.2117		0
		08		2010		9.9447		12.2561		0
Columbia Variable Portfolio - Large Cap Growth Fund, Class 1		01		2019		12.4232		16.5971		0
		01		2018		13.1569		12.4232		0
		01		2017		10.4446		13.1569		0
		01		2016		17.6707		10.4446		0
		01		2015		17.7034		17.6707		0
		01		2014		16.5132		17.7034		0
		01		2013		11.7941		16.5132		0
		01		2012		10.7728		11.7941		0
		01		2011		12.4433		10.7728		0
		01		2010		10.7811		12.4433		0
		02		2019		12.3565		16.4749		0
		02		2018		13.1127		12.3565		0
		02		2017		10.4303		13.1127		0
		02		2016		17.2867		10.4303		24,221
		02		2015		17.3540		17.2867		0
		02		2014		16.2203		17.3540		0
		02		2013		11.6084		16.2203		0
		02		2012		10.6250		11.6084		0
		02		2011		12.2975		10.6250		0
		02		2010		10.6765		12.2975		0
		03		2019		12.3398		16.4444		0
		03		2018		13.1016		12.3398		0
		03		2017		10.4268		13.1016		0
		03		2016		17.1916		10.4268		0
		03		2015		17.2674		17.1916		0
		03		2014		16.1476		17.2674		0
		03		2013		11.5623		16.1476		0
		03		2012		10.5882		11.5623		0
		03		2011		12.2612		10.5882		0
		03		2010		10.6504		12.2612		0
		04		2019		12.2899		16.3532		0
		04		2018		13.0684		12.2899		0
		04		2017		10.4161		13.0684		0
		04		2016		16.9096		10.4161		0
		04		2015		17.0101		16.9096		0
		04		2014		15.9315		17.0101		0
		04		2013		11.4250		15.9315		0
		04		2012		10.4786		11.4250		0
		04		2011		12.1530		10.4786		0
		04		2010		10.5725		12.1530		0

284

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		12.2729		16.3221		0
		05		2018		13.0572		12.2729		0
		05		2017		10.4125		13.0572		0
		05		2016		16.8173		10.4125		0
		05		2015		16.9259		16.8173		0
		05		2014		15.8606		16.9259		0
		05		2013		11.3800		15.8606		0
		05		2012		10.4426		11.3800		0
		05		2011		12.1173		10.4426		0
		05		2010		10.5469		12.1173		0
		06		2019		12.2236		16.2323		0
		06		2018		13.0242		12.2236		0
		06		2017		10.4018		13.0242		0
		06		2016		16.5408		10.4018		0
		06		2015		16.6732		16.5408		0
		06		2014		15.6479		16.6732		0
		06		2013		11.2446		15.6479		0
		06		2012		10.3343		11.2446		0
		06		2011		12.0101		10.3343		0
		06		2010		10.4696		12.0101		0
		07		2019		12.2071		16.2022		0
		07		2018		13.0132		12.2071		0
		07		2017		10.3982		13.0132		0
		07		2016		16.4498		10.3982		0
		07		2015		16.5900		16.4498		0
		07		2014		15.5777		16.5900		0
		07		2013		11.1999		15.5777		0
		07		2012		10.2986		11.1999		0
		07		2011		11.9746		10.2986		0
		07		2010		10.4440		11.9746		0
		08		2019		12.1407		16.0814		0
		08		2018		12.9690		12.1407		0
		08		2017		10.3839		12.9690		0
		08		2016		16.0898		10.3839		0
		08		2015		16.2602		16.0898		0
		08		2014		15.2994		16.2602		0
		08		2013		11.0224		15.2994		0
		08		2012		10.1562		11.0224		0
		08		2011		11.8333		10.1562		0
		08		2010		10.3419		11.8333		0
Columbia Variable Portfolio - Large Cap Growth Fund, Class 2		01		2019		12.3504		16.4552		266,781
		01		2018		13.1069		12.3504		344,174
		01		2017		10.4290		13.1069		451,225
		01		2016		13.5096		10.4290		631,747
		01		2015		13.5723		13.5096		597,975
		01		2014		12.6876		13.5723		802,035
		01		2013		9.0894		12.6876		1,034,715
		01		2012		8.3218		9.0894		1,369,363
		01		2011		9.6323		8.3218		1,509,418
		01		2010		8.3662		9.6323		1,642,968

285

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		12.2841		16.3340		191,286
		02		2018		13.0628		12.2841		299,574
		02		2017		10.4148		13.0628		347,067
		02		2016		13.2687		10.4148		418,171
		02		2015		13.3575		13.2687		390,923
		02		2014		12.5123		13.3575		522,693
		02		2013		8.9820		12.5123		645,109
		02		2012		8.2404		8.9820		833,772
		02		2011		9.5575		8.2404		895,989
		02		2010		8.3181		9.5575		1,056,830
		03		2019		12.2675		16.3038		5,970
		03		2018		13.0517		12.2675		9,120
		03		2017		10.4112		13.0517		10,441
		03		2016		13.2089		10.4112		14,068
		03		2015		13.3042		13.2089		11,308
		03		2014		12.4687		13.3042		12,147
		03		2013		8.9553		12.4687		13,408
		03		2012		8.2201		8.9553		14,202
		03		2011		9.5388		8.2201		33,741
		03		2010		8.3061		9.5388		34,925
		04		2019		12.2179		16.2133		61,937
		04		2018		13.0187		12.2179		69,608
		04		2017		10.4005		13.0187		71,679
		04		2016		13.0313		10.4005		80,979
		04		2015		13.1453		13.0313		69,692
		04		2014		12.3387		13.1453		93,780
		04		2013		8.8755		12.3387		115,004
		04		2012		8.1594		8.8755		151,357
		04		2011		9.4829		8.1594		156,361
		04		2010		8.2701		9.4829		184,653
		05		2019		12.2010		16.1825		0
		05		2018		13.0075		12.2010		0
		05		2017		10.3969		13.0075		0
		05		2016		12.9730		10.3969		0
		05		2015		13.0932		12.9730		0
		05		2014		12.2960		13.0932		0
		05		2013		8.8493		12.2960		0
		05		2012		8.1395		8.8493		0
		05		2011		9.4645		8.1395		0
		05		2010		8.2582		9.4645		0
		06		2019		12.1519		16.0935		0
		06		2018		12.9747		12.1519		0
		06		2017		10.3862		12.9747		0
		06		2016		12.7981		10.3862		80
		06		2015		12.9365		12.7981		156
		06		2014		12.1676		12.9365		263
		06		2013		8.7703		12.1676		381
		06		2012		8.0793		8.7703		580
		06		2011		9.4090		8.0793		706
		06		2010		8.2224		9.4090		5,534

286

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		12.1355		16.0636		0
		07		2018		12.9637		12.1355		0
		07		2017		10.3827		12.9637		0
		07		2016		12.7405		10.3827		0
		07		2015		12.8849		12.7405		0
		07		2014		12.1252		12.8849		0
		07		2013		8.7442		12.1252		51
		07		2012		8.0594		8.7442		2,294
		07		2011		9.3906		8.0594		9,908
		07		2010		8.2105		9.3906		9,729
		08		2019		12.0696		15.9439		0
		08		2018		12.9196		12.0696		0
		08		2017		10.3684		12.9196		0
		08		2016		12.5117		10.3684		0
		08		2015		12.6795		12.5117		0
		08		2014		11.9564		12.6795		0
		08		2013		8.6402		11.9564		0
		08		2012		7.9800		8.6402		0
		08		2011		9.3171		7.9800		0
		08		2010		8.1629		9.3171		0
Columbia Variable Portfolio - Overseas Core Fund, Class 2		01		2019		9.9105		12.1925		18,069
		01		2018		12.1203		9.9105		23,538
		01		2017		9.6939		12.1203		27,605
		01		2016		13.4953		9.6939		48,394
		01		2015		13.7330		13.4953		40,835
		01		2014		14.7203		13.7330		44,881
		01		2013		12.4380		14.7203		45,535
		01		2012		10.7584		12.4380		50,591
		01		2011		13.0576		10.7584		67,781
		01		2010		11.6795		13.0576		70,613
		02		2019		9.8572		12.1027		21,450
		02		2018		12.0795		9.8572		29,669
		02		2017		9.6806		12.0795		29,857
		02		2016		13.2019		9.6806		42,378
		02		2015		13.4619		13.2019		32,507
		02		2014		14.4592		13.4619		38,992
		02		2013		12.2422		14.4592		37,416
		02		2012		10.6108		12.2422		42,257
		02		2011		12.9047		10.6108		57,897
		02		2010		11.5662		12.9047		65,702
		03		2019		9.8439		12.0803		2,185
		03		2018		12.0692		9.8439		2,341
		03		2017		9.6773		12.0692		2,140
		03		2016		13.1294		9.6773		2,299
		03		2015		13.3948		13.1294		1,680
		03		2014		14.3944		13.3948		1,701
		03		2013		12.1936		14.3944		1,664
		03		2012		10.5741		12.1936		1,798
		03		2011		12.8666		10.5741		1,918
		03		2010		11.5380		12.8666		6,797

287

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		9.8040		12.0133		19,592
		04		2018		12.0386		9.8040		20,534
		04		2017		9.6674		12.0386		21,355
		04		2016		12.9140		9.6674		23,918
		04		2015		13.1952		12.9140		18,756
		04		2014		14.2018		13.1952		19,852
		04		2013		12.0489		14.2018		15,998
		04		2012		10.4647		12.0489		18,397
		04		2011		12.7530		10.4647		19,970
		04		2010		11.4536		12.7530		67,539
		05		2019		9.7905		11.9904		0
		05		2018		12.0283		9.7905		0
		05		2017		9.6641		12.0283		0
		05		2016		12.8435		9.6641		0
		05		2015		13.1299		12.8435		0
		05		2014		14.1386		13.1299		0
		05		2013		12.0014		14.1386		0
		05		2012		10.4288		12.0014		0
		05		2011		12.7157		10.4288		0
		05		2010		11.4258		12.7157		0
		06		2019		9.7511		11.9245		0
		06		2018		11.9980		9.7511		0
		06		2017		9.6541		11.9980		0
		06		2016		12.6323		9.6541		0
		06		2015		12.9338		12.6323		0
		06		2014		13.9489		12.9338		0
		06		2013		11.8586		13.9489		0
		06		2012		10.3206		11.8586		0
		06		2011		12.6031		10.3206		0
		06		2010		11.3421		12.6031		0
		07		2019		9.7379		11.9023		0
		07		2018		11.9878		9.7379		0
		07		2017		9.6508		11.9878		0
		07		2016		12.5628		9.6508		0
		07		2015		12.8693		12.5628		0
		07		2014		13.8864		12.8693		0
		07		2013		11.8115		13.8864		0
		07		2012		10.2849		11.8115		0
		07		2011		12.5659		10.2849		0
		07		2010		11.3144		12.5659		0
		08		2019		9.6850		11.8136		0
		08		2018		11.9470		9.6850		0
		08		2017		9.6375		11.9470		0
		08		2016		12.2879		9.6375		0
		08		2015		12.6135		12.2879		0
		08		2014		13.6384		12.6135		0
		08		2013		11.6243		13.6384		0
		08		2012		10.1428		11.6243		0
		08		2011		12.4177		10.1428		0
		08		2010		11.2039		12.4177		0

288

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
Fidelity Balanced Portfolio, Service Class 2		01		2019		16.4518		20.0730		267,498
		01		2018		17.5150		16.4518		366,951
		01		2017		15.3464		17.5150		413,282
		01		2016		14.5906		15.3464		473,838
		01		2015		14.7896		14.5906		563,991
		01		2014		13.6753		14.7896		559,231
		01		2013		11.6628		13.6753		588,573
		01		2012		10.3339		11.6628		640,532
		01		2011		10.9305		10.3339		579,007
		01		2010		9.4427		10.9305		551,999
		02		2019		16.0609		19.5569		130,278
		02		2018		17.1334		16.0609		175,958
		02		2017		15.0394		17.1334		198,710
		02		2016		14.3305		15.0394		249,406
		02		2015		14.5556		14.3305		280,768
		02		2014		13.4863		14.5556		294,745
		02		2013		11.5250		13.4863		264,991
		02		2012		10.2328		11.5250		276,641
		02		2011		10.8455		10.2328		329,153
		02		2010		9.3884		10.8455		240,870
		03		2019		15.9643		19.4295		5,141
		03		2018		17.0390		15.9643		5,766
		03		2017		14.9640		17.0390		5,797
		03		2016		14.2660		14.9640		5,832
		03		2015		14.4975		14.2660		5,872
		03		2014		13.4393		14.4975		6,209
		03		2013		11.4908		13.4393		6,248
		03		2012		10.2076		11.4908		6,289
		03		2011		10.8244		10.2076		6,867
		03		2010		9.3748		10.8244		8,941
		04		2019		15.6780		19.0523		36,625
		04		2018		16.7588		15.6780		42,426
		04		2017		14.7402		16.7588		47,047
		04		2016		14.0742		14.7402		46,336
		04		2015		14.3244		14.0742		49,852
		04		2014		13.2993		14.3244		85,334
		04		2013		11.3885		13.2993		121,116
		04		2012		10.1324		11.3885		142,120
		04		2011		10.7610		10.1324		133,926
		04		2010		9.3343		10.7610		145,013
		05		2019		15.5838		18.9279		0
		05		2018		16.6668		15.5838		0
		05		2017		14.6669		16.6668		0
		05		2016		14.0113		14.6669		0
		05		2015		14.2677		14.0113		0
		05		2014		13.2533		14.2677		0
		05		2013		11.3549		13.2533		0
		05		2012		10.1076		11.3549		0
		05		2011		10.7401		10.1076		0
		05		2010		9.3209		10.7401		0

289

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		15.3042		18.5607		0
		06		2018		16.3923		15.3042		0
		06		2017		14.4470		16.3923		0
		06		2016		13.8224		14.4470		0
		06		2015		14.0970		13.8224		0
		06		2014		13.1149		14.0970		0
		06		2013		11.2535		13.1149		103
		06		2012		10.0329		11.2535		0
		06		2011		10.6771		10.0329		0
		06		2010		9.2804		10.6771		0
		07		2019		15.2122		18.4398		0
		07		2018		16.3020		15.2122		0
		07		2017		14.3746		16.3020		0
		07		2016		13.7602		14.3746		0
		07		2015		14.0407		13.7602		0
		07		2014		13.0692		14.0407		0
		07		2013		11.2201		13.0692		0
		07		2012		10.0082		11.2201		0
		07		2011		10.6563		10.0082		0
		07		2010		9.2670		10.6563		0
		08		2019		14.8478		17.9616		0
		08		2018		15.9441		14.8478		0
		08		2017		14.0876		15.9441		0
		08		2016		13.5131		14.0876		0
		08		2015		13.8169		13.5131		0
		08		2014		12.8873		13.8169		0
		08		2013		11.0867		12.8873		0
		08		2012		9.9096		11.0867		0
		08		2011		10.5729		9.9096		0
		08		2010		9.2134		10.5729		0
Fidelity Contrafund Portfolio, Service Class 2		01		2019		18.0071		23.2380		468,221
		01		2018		19.6224		18.0071		618,575
		01		2017		16.4162		19.6224		762,588
		01		2016		15.5017		16.4162		1,028,674
		01		2015		15.7045		15.5017		1,257,832
		01		2014		14.3085		15.7045		1,447,475
		01		2013		11.1153		14.3085		1,629,361
		01		2012		9.7369		11.1153		1,937,201
		01		2011		10.1886		9.7369		2,116,461
		01		2010		8.8642		10.1886		2,313,159
		02		2019		17.6156		22.6874		281,306
		02		2018		19.2346		17.6156		345,328
		02		2017		16.1241		19.2346		424,303
		02		2016		15.2569		16.1241		524,758
		02		2015		15.4880		15.2569		591,599
		02		2014		14.1400		15.4880		643,946
		02		2013		11.0068		14.1400		816,929
		02		2012		9.6616		11.0068		898,935
		02		2011		10.1303		9.6616		1,023,632
		02		2010		8.8315		10.1303		1,084,048

290

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		17.5188		22.5513		3,823
		03		2018		19.1385		17.5188		4,154
		03		2017		16.0516		19.1385		28,148
		03		2016		15.1961		16.0516		29,759
		03		2015		15.4342		15.1961		32,940
		03		2014		14.0980		15.4342		24,481
		03		2013		10.9797		14.0980		26,639
		03		2012		9.6428		10.9797		29,162
		03		2011		10.1158		9.6428		33,415
		03		2010		8.8233		10.1158		32,369
		04		2019		17.2315		22.1480		75,312
		04		2018		18.8532		17.2315		96,836
		04		2017		15.8362		18.8532		113,742
		04		2016		15.0152		15.8362		152,599
		04		2015		15.2738		15.0152		197,080
		04		2014		13.9730		15.2738		231,377
		04		2013		10.8990		13.9730		261,250
		04		2012		9.5866		10.8990		262,719
		04		2011		10.0723		9.5866		296,057
		04		2010		8.7988		10.0723		224,740
		05		2019		17.1367		22.0147		2,083
		05		2018		18.7594		17.1367		2,216
		05		2017		15.7655		18.7594		2,357
		05		2016		14.9557		15.7655		2,404
		05		2015		15.2211		14.9557		2,404
		05		2014		13.9318		15.2211		2,404
		05		2013		10.8724		13.9318		2,405
		05		2012		9.5681		10.8724		2,405
		05		2011		10.0579		9.5681		2,405
		05		2010		8.7907		10.0579		2,406
		06		2019		16.8555		21.6213		0
		06		2018		18.4793		16.8555		0
		06		2017		15.5533		18.4793		0
		06		2016		14.7772		15.5533		0
		06		2015		15.0625		14.7772		0
		06		2014		13.8078		15.0625		0
		06		2013		10.7922		13.8078		0
		06		2012		9.5122		10.7922		637
		06		2011		10.0145		9.5122		655
		06		2010		8.7662		10.0145		2,133
		07		2019		16.7628		21.4915		427
		07		2018		18.3870		16.7628		517
		07		2017		15.4835		18.3870		555
		07		2016		14.7183		15.4835		642
		07		2015		15.0101		14.7183		717
		07		2014		13.7669		15.0101		779
		07		2013		10.7657		13.7669		914
		07		2012		9.4937		10.7657		1,138
		07		2011		10.0002		9.4937		1,283
		07		2010		8.7581		10.0002		0

291

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		16.3955		20.9780		0
		08		2018		18.0209		16.3955		0
		08		2017		15.2060		18.0209		0
		08		2016		14.4843		15.2060		0
		08		2015		14.8018		14.4843		0
		08		2014		13.6036		14.8018		0
		08		2013		10.6599		13.6036		0
		08		2012		9.4198		10.6599		0
		08		2011		9.9426		9.4198		0
		08		2010		8.7256		9.9426		0
Fidelity Freedom 2010 Portfolio, Service Class 2		01		2019		15.1616		17.2520		4,296
		01		2018		16.1112		15.1616		13,078
		01		2017		14.5292		16.1112		13,420
		01		2016		14.0458		14.5292		15,160
		01		2015		14.3649		14.0458		10,282
		01		2014		14.0227		14.3649		17,494
		01		2013		12.6022		14.0227		44,044
		01		2012		11.4902		12.6022		51,936
		01		2011		11.7387		11.4902		62,984
		01		2010		10.6104		11.7387		64,377
		02		2019		14.7610		16.7626		2,900
		02		2018		15.7172		14.7610		4,718
		02		2017		14.2023		15.7172		4,739
		02		2016		13.7578		14.2023		7,281
		02		2015		14.0990		13.7578		9,249
		02		2014		13.7913		14.0990		15,596
		02		2013		12.4194		13.7913		55,964
		02		2012		11.3468		12.4194		33,663
		02		2011		11.6157		11.3468		38,858
		02		2010		10.5207		11.6157		40,776
		03		2019		14.6622		16.6420		0
		03		2018		15.6199		14.6622		0
		03		2017		14.1215		15.6199		0
		03		2016		13.6865		14.1215		0
		03		2015		14.0331		13.6865		0
		03		2014		13.7338		14.0331		0
		03		2013		12.3740		13.7338		0
		03		2012		11.3111		12.3740		0
		03		2011		11.5851		11.3111		0
		03		2010		10.4982		11.5851		0
		04		2019		14.3697		16.2854		8,553
		04		2018		15.3314		14.3697		9,839
		04		2017		13.8816		15.3314		10,530
		04		2016		13.4747		13.8816		13,113
		04		2015		13.8371		13.4747		14,402
		04		2014		13.5628		13.8371		15,426
		04		2013		12.2386		13.5628		17,649
		04		2012		11.2047		12.2386		19,299
		04		2011		11.4936		11.2047		24,130
		04		2010		10.4313		11.4936		13,963

292

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		14.2736		16.1680		0
		05		2018		15.2369		14.2736		0
		05		2017		13.8032		15.2369		0
		05		2016		13.4053		13.8032		0
		05		2015		13.7728		13.4053		0
		05		2014		13.5067		13.7728		0
		05		2013		12.1942		13.5067		0
		05		2012		11.1697		12.1942		0
		05		2011		11.4635		11.1697		0
		05		2010		10.4093		11.4635		0
		06		2019		13.9886		15.8217		0
		06		2018		14.9551		13.9886		0
		06		2017		13.5682		14.9551		0
		06		2016		13.1974		13.5682		0
		06		2015		13.5801		13.1974		0
		06		2014		13.3381		13.5801		0
		06		2013		12.0605		13.3381		0
		06		2012		11.0643		12.0605		0
		06		2011		11.3728		11.0643		0
		06		2010		10.3428		11.3728		0
		07		2019		13.8949		15.7078		0
		07		2018		14.8625		13.8949		0
		07		2017		13.4910		14.8625		0
		07		2016		13.1290		13.4910		0
		07		2015		13.5166		13.1290		0
		07		2014		13.2825		13.5166		0
		07		2013		12.0164		13.2825		0
		07		2012		11.0295		12.0164		0
		07		2011		11.3428		11.0295		0
		07		2010		10.3208		11.3428		0
		08		2019		13.5249		15.2584		0
		08		2018		14.4963		13.5249		0
		08		2017		13.1853		14.4963		0
		08		2016		12.8578		13.1853		0
		08		2015		13.2646		12.8578		0
		08		2014		13.0617		13.2646		0
		08		2013		11.8408		13.0617		0
		08		2012		10.8908		11.8408		0
		08		2011		11.2231		10.8908		0
		08		2010		10.2328		11.2231		0
Fidelity Freedom 2015 Portfolio, Service Class 2		01		2019		15.6118		18.1055		34,722
		01		2018		16.7682		15.6118		38,106
		01		2017		14.8578		16.7682		62,362
		01		2016		14.3163		14.8578		89,303
		01		2015		14.6380		14.3163		124,997
		01		2014		14.2560		14.6380		154,087
		01		2013		12.7098		14.2560		189,417
		01		2012		11.5552		12.7098		209,182
		01		2011		11.8156		11.5552		225,301
		01		2010		10.6571		11.8156		223,049

293

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		15.1993		17.5919		23,577
		02		2018		16.3581		15.1993		15,467
		02		2017		14.5236		16.3581		16,683
		02		2016		14.0227		14.5236		17,784
		02		2015		14.3671		14.0227		18,428
		02		2014		14.0207		14.3671		28,009
		02		2013		12.5255		14.0207		39,555
		02		2012		11.4110		12.5255		116,221
		02		2011		11.6919		11.4110		115,811
		02		2010		10.5670		11.6919		134,718
		03		2019		15.0975		17.4652		0
		03		2018		16.2568		15.0975		0
		03		2017		14.4408		16.2568		4,526
		03		2016		13.9500		14.4408		4,376
		03		2015		14.2998		13.9500		4,401
		03		2014		13.9622		14.2998		4,426
		03		2013		12.4797		13.9622		4,452
		03		2012		11.3751		12.4797		4,478
		03		2011		11.6610		11.3751		4,505
		03		2010		10.5445		11.6610		4,532
		04		2019		14.7962		17.0910		6,535
		04		2018		15.9566		14.7962		6,954
		04		2017		14.1956		15.9566		8,988
		04		2016		13.7341		14.1956		17,083
		04		2015		14.1001		13.7341		20,052
		04		2014		13.7884		14.1001		26,322
		04		2013		12.3432		13.7884		26,961
		04		2012		11.2680		12.3432		28,653
		04		2011		11.5689		11.2680		38,417
		04		2010		10.4772		11.5689		44,274
		05		2019		14.6973		16.9678		0
		05		2018		15.8582		14.6973		0
		05		2017		14.1153		15.8582		0
		05		2016		13.6634		14.1153		0
		05		2015		14.0347		13.6634		0
		05		2014		13.7313		14.0347		0
		05		2013		12.2983		13.7313		0
		05		2012		11.2328		12.2983		0
		05		2011		11.5386		11.2328		0
		05		2010		10.4551		11.5386		0
		06		2019		14.4039		16.6043		0
		06		2018		15.5649		14.4039		0
		06		2017		13.8751		15.5649		0
		06		2016		13.4515		13.8751		0
		06		2015		13.8382		13.4515		0
		06		2014		13.5599		13.8382		0
		06		2013		12.1635		13.5599		0
		06		2012		11.1268		12.1635		0
		06		2011		11.4473		11.1268		0
		06		2010		10.3883		11.4473		0

294

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		14.3074		16.4848		0
		07		2018		15.4685		14.3074		0
		07		2017		13.7961		15.4685		0
		07		2016		13.3817		13.7961		0
		07		2015		13.7735		13.3817		0
		07		2014		13.5034		13.7735		0
		07		2013		12.1190		13.5034		0
		07		2012		11.0918		12.1190		0
		07		2011		11.4171		11.0918		0
		07		2010		10.3662		11.4171		0
		08		2019		13.9263		16.0131		0
		08		2018		15.0873		13.9263		0
		08		2017		13.4834		15.0873		0
		08		2016		13.1053		13.4834		0
		08		2015		13.5167		13.1053		0
		08		2014		13.2789		13.5167		0
		08		2013		11.9420		13.2789		0
		08		2012		10.9523		11.9420		0
		08		2011		11.2966		10.9523		0
		08		2010		10.2778		11.2966		0
Fidelity Freedom 2020 Portfolio, Service Class 2		01		2019		15.7226		18.5286		90,044
		01		2018		17.0305		15.7226		122,681
		01		2017		14.9006		17.0305		145,788
		01		2016		14.3269		14.9006		206,429
		01		2015		14.6418		14.3269		320,822
		01		2014		14.2406		14.6418		357,839
		01		2013		12.5280		14.2406		366,103
		01		2012		11.2724		12.5280		372,589
		01		2011		11.6111		11.2724		398,393
		01		2010		10.3314		11.6111		449,539
		02		2019		15.3071		18.0028		37,569
		02		2018		16.6139		15.3071		39,001
		02		2017		14.5653		16.6139		43,864
		02		2016		14.0331		14.5653		68,356
		02		2015		14.3708		14.0331		77,872
		02		2014		14.0055		14.3708		84,782
		02		2013		12.3463		14.0055		133,934
		02		2012		11.1316		12.3463		144,232
		02		2011		11.4894		11.1316		179,041
		02		2010		10.2439		11.4894		196,439
		03		2019		15.2047		17.8733		0
		03		2018		16.5110		15.2047		322
		03		2017		14.4824		16.5110		326
		03		2016		13.9603		14.4824		334
		03		2015		14.3036		13.9603		3,489
		03		2014		13.9472		14.3036		332
		03		2013		12.3012		13.9472		330
		03		2012		11.0966		12.3012		324
		03		2011		11.4591		11.0966		14,243
		03		2010		10.2222		11.4591		14,213

295

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		14.9013		17.4903		4,468
		04		2018		16.2061		14.9013		13,120
		04		2017		14.2364		16.2061		10,725
		04		2016		13.7443		14.2364		16,924
		04		2015		14.1038		13.7443		27,194
		04		2014		13.7735		14.1038		18,573
		04		2013		12.1666		13.7735		19,222
		04		2012		10.9922		12.1666		47,374
		04		2011		11.3687		10.9922		55,922
		04		2010		10.1570		11.3687		59,692
		05		2019		14.8016		16.9678		0
		05		2018		16.1061		14.8016		0
		05		2017		14.1559		16.1061		6,117
		05		2016		13.6735		14.1559		7,016
		05		2015		14.0383		13.6735		8,012
		05		2014		13.7165		14.0383		8,373
		05		2013		12.1224		13.7165		8,415
		05		2012		10.9578		12.1224		8,458
		05		2011		11.3388		10.9578		8,500
		05		2010		10.1355		11.3388		8,548
		06		2019		14.5061		16.6043		0
		06		2018		15.8083		14.5061		6,308
		06		2017		13.9150		15.8083		6,311
		06		2016		13.4614		13.9150		6,315
		06		2015		13.8418		13.4614		6,318
		06		2014		13.5453		13.8418		6,322
		06		2013		11.9895		13.5453		6,325
		06		2012		10.8545		11.9895		6,329
		06		2011		11.2491		10.8545		6,333
		06		2010		10.0707		11.2491		6,338
		07		2019		14.4090		16.4848		0
		07		2018		15.7104		14.4090		0
		07		2017		13.8357		15.7104		0
		07		2016		13.3916		13.8357		0
		07		2015		13.7771		13.3916		0
		07		2014		13.4888		13.7771		0
		07		2013		11.9456		13.4888		0
		07		2012		10.8203		11.9456		0
		07		2011		11.2194		10.8203		0
		07		2010		10.0493		11.2194		0
		07		2009		8.0056		10.0493		12,760
		08		2019		14.0252		16.0131		0
		08		2018		15.3232		14.0252		0
		08		2017		13.5222		15.3232		0
		08		2016		13.1150		13.5222		0
		08		2015		13.5203		13.1150		0
		08		2014		13.2645		13.5203		0
		08		2013		11.7711		13.2645		0
		08		2012		10.6842		11.7711		0
		08		2011		11.1011		10.6842		0
		08		2010		9.9637		11.1011		0

296

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
Fidelity Mid Cap Portfolio, Service Class 2		01		2019		17.4626		21.1444		222,565
		01		2018		20.8449		17.4626		281,017
		01		2017		17.5910		20.8449		329,845
		01		2016		15.9888		17.5910		462,529
		01		2015		16.5345		15.9888		584,246
		01		2014		15.8636		16.5345		702,104
		01		2013		11.8774		15.8636		910,016
		01		2012		10.5478		11.8774		1,138,356
		01		2011		12.0362		10.5478		1,296,055
		01		2010		9.5232		12.0362		1,552,781
		02		2019		17.0478		20.6008		174,111
		02		2018		20.3908		17.0478		237,488
		02		2017		17.2423		20.3908		254,771
		02		2016		15.7038		17.2423		301,454
		02		2015		16.2730		15.7038		367,738
		02		2014		15.6445		16.2730		443,767
		02		2013		11.7372		15.6445		577,680
		02		2012		10.4447		11.7372		712,389
		02		2011		11.9427		10.4447		779,268
		02		2010		9.4685		11.9427		941,639
		03		2019		16.9452		20.4665		5,015
		03		2018		20.2784		16.9452		5,803
		03		2017		17.1558		20.2784		6,166
		03		2016		15.6331		17.1558		6,515
		03		2015		16.2079		15.6331		7,724
		03		2014		15.5900		16.2079		8,067
		03		2013		11.7023		15.5900		12,551
		03		2012		10.4189		11.7023		14,822
		03		2011		11.9193		10.4189		18,341
		03		2010		9.4548		11.9193		17,865
		04		2019		16.6413		20.0692		51,389
		04		2018		19.9450		16.6413		54,196
		04		2017		16.8992		19.9450		58,566
		04		2016		15.4228		16.8992		66,851
		04		2015		16.0145		15.4228		85,162
		04		2014		15.4276		16.0145		122,747
		04		2013		11.5981		15.4276		165,796
		04		2012		10.3421		11.5981		191,712
		04		2011		11.8496		10.3421		224,292
		04		2010		9.4139		11.8496		329,631
		05		2019		16.5412		19.9381		0
		05		2018		19.8355		16.5412		0
		05		2017		16.8151		19.8355		0
		05		2016		15.3539		16.8151		0
		05		2015		15.9510		15.3539		375
		05		2014		15.3742		15.9510		0
		05		2013		11.5638		15.3742		0
		05		2012		10.3168		11.5638		0
		05		2011		11.8266		10.3168		0
		05		2010		9.4003		11.8266		1,767

297

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		16.2445		19.5513		0
		06		2018		19.5089		16.2445		0
		06		2017		16.5630		19.5089		0
		06		2016		15.1469		16.5630		0
		06		2015		15.7602		15.1469		0
		06		2014		15.2136		15.7602		0
		06		2013		11.4607		15.2136		0
		06		2012		10.2406		11.4607		0
		06		2011		11.7572		10.2406		0
		06		2010		9.3596		11.7572		0
		07		2019		16.1467		19.4239		0
		07		2018		19.4013		16.1467		0
		07		2017		16.4800		19.4013		0
		07		2016		15.0787		16.4800		0
		07		2015		15.6973		15.0787		0
		07		2014		15.1606		15.6973		0
		07		2013		11.4266		15.1606		331
		07		2012		10.2153		11.4266		410
		07		2011		11.7343		10.2153		423
		07		2010		9.3460		11.7343		6,223
		08		2019		15.7600		18.9201		0
		08		2018		18.9754		15.7600		0
		08		2017		16.1510		18.9754		0
		08		2016		14.8080		16.1510		0
		08		2015		15.4471		14.8080		0
		08		2014		14.9497		15.4471		0
		08		2013		11.2907		14.9497		0
		08		2012		10.1147		11.2907		0
		08		2011		11.6425		10.1147		0
		08		2010		9.2920		11.6425		0
First Eagle Overseas Variable Fund		01		2019		13.5531		15.6387		1,022,077
		01		2018		15.4145		13.5531		1,279,561
		01		2017		13.6851		15.4145		1,507,198
		01		2016		13.2373		13.6851		1,922,209
		01		2015		13.2227		13.2373		2,372,712
		01		2014		13.6183		13.2227		2,807,239
		01		2013		12.2332		13.6183		3,138,290
		01		2012		10.8384		12.2332		3,421,590
		01		2011		11.7661		10.8384		3,882,774
		01		2010		10.0440		11.7661		4,141,915
		02		2019		13.2311		15.2366		493,850
		02		2018		15.0786		13.2311		599,164
		02		2017		13.4138		15.0786		712,955
		02		2016		13.0014		13.4138		1,393,397
		02		2015		13.0135		13.0014		1,517,842
		02		2014		13.4302		13.0135		1,673,640
		02		2013		12.0888		13.4302		1,824,829
		02		2012		10.7324		12.0888		1,898,902
		02		2011		11.6748		10.7324		2,066,175
		02		2010		9.9864		11.6748		2,164,896

298

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		13.1515		15.1374		8,928
		03		2018		14.9955		13.1515		10,590
		03		2017		13.3466		14.9955		37,595
		03		2016		12.9428		13.3466		42,934
		03		2015		12.9615		12.9428		42,667
		03		2014		13.3834		12.9615		51,746
		03		2013		12.0528		13.3834		62,590
		03		2012		10.7060		12.0528		74,733
		03		2011		11.6520		10.7060		80,086
		03		2010		9.9719		11.6520		72,805
		04		2019		12.9157		14.8436		143,105
		04		2018		14.7490		12.9157		170,397
		04		2017		13.1470		14.7490		183,818
		04		2016		12.7688		13.1470		248,518
		04		2015		12.8069		12.7688		282,450
		04		2014		13.2440		12.8069		318,588
		04		2013		11.9455		13.2440		332,808
		04		2012		10.6271		11.9455		358,196
		04		2011		11.5838		10.6271		433,164
		04		2010		9.9288		11.5838		483,961
		05		2019		12.8380		14.7466		0
		05		2018		14.6680		12.8380		0
		05		2017		13.0816		14.6680		0
		05		2016		12.7117		13.0816		0
		05		2015		12.7561		12.7117		1,527
		05		2014		13.1982		12.7561		1,716
		05		2013		11.9103		13.1982		1,669
		05		2012		10.6011		11.9103		1,847
		05		2011		11.5613		10.6011		1,934
		05		2010		9.9145		11.5613		0
		06		2019		12.6077		14.4605		0
		06		2018		14.4265		12.6077		0
		06		2017		12.8854		14.4265		0
		06		2016		12.5404		12.8854		0
		06		2015		12.6035		12.5404		0
		06		2014		13.0604		12.6035		0
		06		2013		11.8040		13.0604		2,311
		06		2012		10.5228		11.8040		3,913
		06		2011		11.4935		10.5228		4,606
		06		2010		9.8716		11.4935		4,742
		07		2019		12.5319		14.3662		636
		07		2018		14.3469		12.5319		699
		07		2017		12.8208		14.3469		721
		07		2016		12.4839		12.8208		789
		07		2015		12.5532		12.4839		845
		07		2014		13.0149		12.5532		932
		07		2013		11.7689		13.0149		967
		07		2012		10.4969		11.7689		1,049
		07		2011		11.4711		10.4969		1,146
		07		2010		9.8573		11.4711		0

299

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		12.2318		13.9938		0
		08		2018		14.0320		12.2318		0
		08		2017		12.5649		14.0320		15
		08		2016		12.2598		12.5649		17
		08		2015		12.3532		12.2598		19
		08		2014		12.8338		12.3532		21
		08		2013		11.6290		12.8338		22
		08		2012		10.3935		11.6290		31
		08		2011		11.3814		10.3935		0
		08		2010		9.8003		11.3814		0
Franklin Allocation VIP Fund, Class 2		01		2019		13.2116		15.5668		186,575
		01		2018		14.8761		13.2116		217,424
		01		2017		13.5134		14.8761		253,512
		01		2016		12.1461		13.5134		271,573
		01		2015		13.1748		12.1461		350,135
		01		2014		13.0314		13.1748		428,626
		01		2013		10.7107		13.0314		450,204
		01		2012		9.4482		10.7107		587,914
		01		2011		9.7617		9.4482		653,508
		01		2010		9.0069		9.7617		747,283
		02		2019		12.9244		15.1980		59,324
		02		2018		14.5822		12.9244		66,124
		02		2017		13.2730		14.5822		127,495
		02		2016		11.9544		13.2730		140,315
		02		2015		12.9932		11.9544		172,218
		02		2014		12.8781		12.9932		206,102
		02		2013		10.6062		12.8781		312,436
		02		2012		9.3751		10.6062		305,179
		02		2011		9.7060		9.3751		332,491
		02		2010		8.9737		9.7060		378,677
		03		2019		12.8534		15.1069		0
		03		2018		14.5094		12.8534		0
		03		2017		13.2134		14.5094		0
		03		2016		11.9067		13.2134		0
		03		2015		12.9480		11.9067		0
		03		2014		12.8399		12.9480		0
		03		2013		10.5801		12.8399		0
		03		2012		9.3569		10.5801		0
		03		2011		9.6921		9.3569		0
		03		2010		8.9654		9.6921		0
		04		2019		12.6426		14.8367		6,343
		04		2018		14.2930		12.6426		6,862
		04		2017		13.0360		14.2930		10,995
		04		2016		11.7649		13.0360		11,570
		04		2015		12.8135		11.7649		13,467
		04		2014		12.7259		12.8135		61,437
		04		2013		10.5023		12.7259		77,549
		04		2012		9.3024		10.5023		74,816
		04		2011		9.6504		9.3024		80,240
		04		2010		8.9405		9.6504		86,054

300

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		12.5730		14.7474		0
		05		2018		14.2219		12.5730		0
		05		2017		12.9778		14.2219		0
		05		2016		11.7184		12.9778		0
		05		2015		12.7693		11.7184		0
		05		2014		12.6885		12.7693		0
		05		2013		10.4767		12.6885		0
		05		2012		9.2845		10.4767		0
		05		2011		9.6367		9.2845		0
		05		2010		8.9323		9.6367		0
		06		2019		12.3668		14.4839		0
		06		2018		14.0096		12.3668		0
		06		2017		12.8032		14.0096		0
		06		2016		11.5785		12.8032		0
		06		2015		12.6362		11.5785		0
		06		2014		12.5756		12.6362		0
		06		2013		10.3995		12.5756		0
		06		2012		9.2303		10.3995		0
		06		2011		9.5951		9.2303		0
		06		2010		8.9075		9.5951		0
		07		2019		12.2987		14.3969		0
		07		2018		13.9396		12.2987		0
		07		2017		12.7457		13.9396		0
		07		2016		11.5323		12.7457		0
		07		2015		12.5923		11.5323		0
		07		2014		12.5383		12.5923		0
		07		2013		10.3739		12.5383		0
		07		2012		9.2123		10.3739		0
		07		2011		9.5813		9.2123		0
		07		2010		8.8992		9.5813		0
		08		2019		12.0292		14.0529		0
		08		2018		13.6620		12.0292		0
		08		2017		12.5173		13.6620		26
		08		2016		11.3489		12.5173		30
		08		2015		12.4175		11.3489		35
		08		2014		12.3896		12.4175		37
		08		2013		10.2719		12.3896		41
		08		2012		9.1406		10.2719		0
		08		2011		9.5262		9.1406		0
		08		2010		8.8662		9.5262		0
Franklin Income VIP Fund, Class 2		01		2019		13.8503		15.8020		308,344
		01		2018		14.7243		13.8503		350,948
		01		2017		13.6566		14.7243		477,689
		01		2016		12.1841		13.6566		630,110
		01		2015		13.3355		12.1841		819,191
		01		2014		12.9676		13.3355		921,935
		01		2013		11.5777		12.9676		1,044,628
		01		2012		10.4560		11.5777		1,129,005
		01		2011		10.3887		10.4560		1,232,639
		01		2010		9.3796		10.3887		1,282,679

301

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		13.5213		15.3957		77,714
		02		2018		14.4035		13.5213		79,964
		02		2017		13.3859		14.4035		91,486
		02		2016		11.9670		13.3859		120,470
		02		2015		13.1246		11.9670		163,130
		02		2014		12.7885		13.1246		214,582
		02		2013		11.4410		12.7885		232,294
		02		2012		10.3537		11.4410		265,931
		02		2011		10.3080		10.3537		346,428
		02		2010		9.3257		10.3080		341,100
		03		2019		13.4400		15.2954		2,047
		03		2018		14.3241		13.4400		4,201
		03		2017		13.3189		14.3241		4,209
		03		2016		11.9131		13.3189		4,264
		03		2015		13.0722		11.9131		4,718
		03		2014		12.7439		13.0722		19,742
		03		2013		11.4070		12.7439		26,665
		03		2012		10.3282		11.4070		26,983
		03		2011		10.2879		10.3282		27,641
		03		2010		9.3123		10.2879		28,202
		04		2019		13.1989		14.9985		48,966
		04		2018		14.0886		13.1989		53,267
		04		2017		13.1197		14.0886		61,802
		04		2016		11.7529		13.1197		82,827
		04		2015		12.9162		11.7529		101,001
		04		2014		12.6112		12.9162		132,267
		04		2013		11.3055		12.6112		172,704
		04		2012		10.2521		11.3055		170,423
		04		2011		10.2277		10.2521		173,862
		04		2010		9.2719		10.2277		160,393
		05		2019		13.1196		14.9006		0
		05		2018		14.0113		13.1196		0
		05		2017		13.0544		14.0113		0
		05		2016		11.7004		13.0544		0
		05		2015		12.8650		11.7004		0
		05		2014		12.5676		12.8650		0
		05		2013		11.2721		12.5676		0
		05		2012		10.2271		11.2721		0
		05		2011		10.2079		10.2271		0
		05		2010		9.2587		10.2079		0
		06		2019		12.8843		14.6115		0
		06		2018		13.7805		12.8843		0
		06		2017		12.8587		13.7805		0
		06		2016		11.5427		12.8587		0
		06		2015		12.7111		11.5427		0
		06		2014		12.4363		12.7111		0
		06		2013		11.1716		12.4363		0
		06		2012		10.1515		11.1716		0
		06		2011		10.1480		10.1515		0
		06		2010		9.2185		10.1480		0

302

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		12.8068		14.5163		0
		07		2018		13.7046		12.8068		0
		07		2017		12.7943		13.7046		0
		07		2016		11.4907		12.7943		0
		07		2015		12.6604		11.4907		0
		07		2014		12.3930		12.6604		0
		07		2013		11.1384		12.3930		0
		07		2012		10.1265		11.1384		0
		07		2011		10.1282		10.1265		0
		07		2010		9.2052		10.1282		0
		08		2019		12.5001		14.1400		0
		08		2018		13.4038		12.5001		0
		08		2017		12.5389		13.4038		0
		08		2016		11.2845		12.5389		0
		08		2015		12.4587		11.2845		0
		08		2014		12.2206		12.4587		0
		08		2013		11.0060		12.2206		0
		08		2012		10.0268		11.0060		0
		08		2011		10.0490		10.0268		0
		08		2010		9.1520		10.0490		0
Franklin Mutual Shares VIP Fund, Class 2		01		2019		21.6838		26.1278		386,686
		01		2018		24.2595		21.6838		481,554
		01		2017		22.7757		24.2595		598,382
		01		2016		19.9638		22.7757		727,971
		01		2015		21.3636		19.9638		916,305
		01		2014		20.2881		21.3636		997,080
		01		2013		16.0912		20.2881		1,154,755
		01		2012		14.3298		16.0912		1,393,404
		01		2011		14.7306		14.3298		1,569,838
		01		2010		13.4765		14.7306		1,781,553
		02		2019		20.9810		25.2303		232,375
		02		2018		23.5206		20.9810		273,699
		02		2017		22.1264		23.5206		335,941
		02		2016		19.4341		22.1264		388,157
		02		2015		20.8393		19.4341		477,718
		02		2014		19.8305		20.8393		498,745
		02		2013		15.7603		19.8305		594,288
		02		2012		14.0638		15.7603		692,383
		02		2011		14.4866		14.0638		792,850
		02		2010		13.2803		14.4866		861,954
		03		2019		20.8083		25.0100		5,499
		03		2018		23.3387		20.8083		5,747
		03		2017		21.9664		23.3387		19,891
		03		2016		19.3034		21.9664		21,338
		03		2015		20.7097		19.3034		23,143
		03		2014		19.7173		20.7097		34,762
		03		2013		15.6783		19.7173		36,466
		03		2012		13.9979		15.6783		42,691
		03		2011		14.4260		13.9979		57,003
		03		2010		13.2315		14.4260		57,439

303

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		20.2986		24.3607		39,294
		04		2018		22.8016		20.2986		48,331
		04		2017		21.4933		22.8016		51,268
		04		2016		18.9167		21.4933		60,817
		04		2015		20.3259		18.9167		85,286
		04		2014		19.3816		20.3259		104,951
		04		2013		15.4350		19.3816		145,278
		04		2012		13.8019		15.4350		169,484
		04		2011		14.2459		13.8019		199,804
		04		2010		13.0863		14.2459		204,766
		05		2019		20.1319		24.1480		0
		05		2018		22.6262		20.1319		0
		05		2017		21.3390		22.6262		0
		05		2016		18.7904		21.3390		0
		05		2015		20.2005		18.7904		0
		05		2014		19.2717		20.2005		0
		05		2013		15.3553		19.2717		0
		05		2012		13.7376		15.3553		0
		05		2011		14.1867		13.7376		0
		05		2010		13.0385		14.1867		0
		06		2019		19.6383		23.5209		0
		06		2018		22.1047		19.6383		0
		06		2017		20.8783		22.1047		0
		06		2016		18.4130		20.8783		0
		06		2015		19.8252		18.4130		0
		06		2014		18.9428		19.8252		0
		06		2013		15.1165		18.9428		1,602
		06		2012		13.5448		15.1165		7,542
		06		2011		14.0091		13.5448		7,742
		06		2010		12.8951		14.0091		10,119
		07		2019		18.5978		22.2635		0
		07		2018		20.9441		18.5978		0
		07		2017		19.7921		20.9441		0
		07		2016		17.4640		19.7921		0
		07		2015		18.8130		17.4640		0
		07		2014		17.9849		18.8130		0
		07		2013		14.3593		17.9849		0
		07		2012		12.8730		14.3593		1,047
		07		2011		13.3210		12.8730		1,063
		07		2010		12.2680		13.3210		1,033
		08		2019		18.0108		21.5171		0
		08		2018		20.3246		18.0108		0
		08		2017		19.2457		20.3246		10
		08		2016		17.0167		19.2457		11
		08		2015		18.3689		17.0167		14
		08		2014		17.5963		18.3689		14
		08		2013		14.0779		17.5963		16
		08		2012		12.6468		14.0779		25
		08		2011		13.1138		12.6468		0
		08		2010		12.1019		13.1138		0

304

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
Franklin Small Cap Value VIP Fund, Class 2		01		2019		32.1342		39.9126		34,584
		01		2018		37.5235		32.1342		43,592
		01		2017		34.4949		37.5235		61,758
		01		2016		26.9543		34.4949		70,191
		01		2015		29.6076		26.9543		103,241
		01		2014		29.9486		29.6076		110,563
		01		2013		22.3625		29.9486		130,154
		01		2012		19.2174		22.3625		156,121
		01		2011		20.3129		19.2174		182,546
		01		2010		16.1156		20.3129		180,678
		02		2019		31.0926		38.5415		15,868
		02		2018		36.3805		31.0926		18,790
		02		2017		33.5114		36.3805		24,747
		02		2016		26.2391		33.5114		32,003
		02		2015		28.8808		26.2391		44,479
		02		2014		29.2731		28.8808		53,607
		02		2013		21.9025		29.2731		83,997
		02		2012		18.8607		21.9025		110,493
		02		2011		19.9765		18.8607		130,545
		02		2010		15.8810		19.9765		145,194
		03		2019		30.8366		38.2050		506
		03		2018		36.0993		30.8366		588
		03		2017		33.2690		36.0993		539
		03		2016		26.0627		33.2690		841
		03		2015		28.7013		26.0627		1,042
		03		2014		29.1060		28.7013		1,003
		03		2013		21.7887		29.1060		3,395
		03		2012		18.7723		21.7887		3,297
		03		2011		19.8930		18.7723		3,961
		03		2010		15.8227		19.8930		3,960
		04		2019		30.0812		37.2129		15,928
		04		2018		35.2684		30.0812		18,649
		04		2017		32.5524		35.2684		20,951
		04		2016		25.5404		32.5524		27,789
		04		2015		28.1693		25.5404		34,038
		04		2014		28.6103		28.1693		33,783
		04		2013		21.4504		28.6103		44,970
		04		2012		18.5094		21.4504		41,329
		04		2011		19.6444		18.5094		49,214
		04		2010		15.6489		19.6444		69,603
		05		2019		29.8341		36.8880		0
		05		2018		34.9971		29.8341		0
		05		2017		32.3187		34.9971		0
		05		2016		25.3699		32.3187		0
		05		2015		27.9954		25.3699		0
		05		2014		28.4482		27.9954		0
		05		2013		21.3397		28.4482		0
		05		2012		18.4232		21.3397		0
		05		2011		19.5629		18.4232		0
		05		2010		15.5919		19.5629		0

305

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		29.1026		35.9299		0
		06		2018		34.1902		29.1026		0
		06		2017		31.6209		34.1902		0
		06		2016		24.8603		31.6209		0
		06		2015		27.4753		24.8603		0
		06		2014		27.9626		27.4753		0
		06		2013		21.0077		27.9626		799
		06		2012		18.1646		21.0077		784
		06		2011		19.3179		18.1646		864
		06		2010		15.4202		19.3179		864
		07		2019		27.2189		33.5875		0
		07		2018		31.9935		27.2189		0
		07		2017		29.6041		31.9935		0
		07		2016		23.2866		29.6041		0
		07		2015		25.7492		23.2866		0
		07		2014		26.2193		25.7492		0
		07		2013		19.7081		26.2193		0
		07		2012		17.0497		19.7081		766
		07		2011		18.1414		17.0497		806
		07		2010		14.4885		18.1414		755
		08		2019		26.3599		32.4614		0
		08		2018		31.0472		26.3599		0
		08		2017		28.7869		31.0472		7
		08		2016		22.6902		28.7869		7
		08		2015		25.1413		22.6902		10
		08		2014		25.6529		25.1413		10
		08		2013		19.3219		25.6529		11
		08		2012		16.7501		19.3219		0
		08		2011		17.8591		16.7501		0
		08		2010		14.2923		17.8591		0
Franklin Strategic Income VIP Fund, Class 2		01		2019		13.6933		14.5453		61,312
		01		2018		14.2347		13.6933		56,997
		01		2017		13.8483		14.2347		68,227
		01		2016		13.0516		13.8483		87,365
		01		2015		13.8117		13.0516		119,770
		01		2014		13.7938		13.8117		159,079
		01		2013		13.5820		13.7938		187,291
		01		2012		12.2552		13.5820		199,805
		01		2011		12.1537		12.2552		220,169
		01		2010		11.1471		12.1537		238,113
		02		2019		13.3680		14.1714		28,398
		02		2018		13.9246		13.3680		29,999
		02		2017		13.5739		13.9246		36,004
		02		2016		12.8190		13.5739		50,948
		02		2015		13.5932		12.8190		66,020
		02		2014		13.6033		13.5932		81,401
		02		2013		13.4217		13.6033		86,056
		02		2012		12.1353		13.4217		122,455
		02		2011		12.0593		12.1353		155,754
		02		2010		11.0831		12.0593		155,165

306

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		13.2876		14.0792		2,089
		03		2018		13.8479		13.2876		2,089
		03		2017		13.5059		13.8479		2,089
		03		2016		12.7613		13.5059		4,034
		03		2014		13.5389		12.7613		4,068
		03		2014		13.5559		13.5389		4,040
		03		2013		13.3818		13.5559		5,203
		03		2012		12.1055		13.3818		3,006
		03		2011		12.0358		12.1055		3,054
		03		2010		11.0671		12.0358		3,124
		04		2019		13.0494		13.8059		23,924
		04		2018		13.6202		13.0494		38,011
		04		2017		13.3039		13.6202		41,577
		04		2016		12.5898		13.3039		47,876
		04		2015		13.3774		12.5898		58,977
		04		2014		13.4147		13.3774		79,929
		04		2013		13.2628		13.4147		58,533
		04		2012		12.0163		13.2628		58,711
		04		2011		11.9654		12.0163		61,288
		04		2010		11.0193		11.9654		61,630
		05		2019		12.9710		13.7157		0
		05		2018		13.5454		12.9710		0
		05		2017		13.2377		13.5454		0
		05		2016		12.5335		13.2377		0
		05		2015		13.3244		12.5335		0
		05		2014		13.3683		13.3244		1,655
		05		2013		13.2236		13.3683		1,621
		05		2012		11.9869		13.2236		1,655
		05		2011		11.9422		11.9869		1,691
		05		2010		11.0035		11.9422		1,766
		06		2019		12.7383		13.4497		0
		06		2018		13.3224		12.7383		0
		06		2017		13.0393		13.3224		0
		06		2016		12.3646		13.0393		0
		06		2015		13.1651		12.3646		0
		06		2014		13.2288		13.1651		0
		06		2013		13.1057		13.2288		0
		06		2012		11.8984		13.1057		0
		06		2011		11.8722		11.8984		0
		06		2010		10.9558		11.8722		0
		07		2019		12.6617		13.3620		0
		07		2018		13.2490		12.6617		0
		07		2017		12.9740		13.2490		0
		07		2016		12.3089		12.9740		0
		07		2015		13.1125		12.3089		0
		07		2014		13.1827		13.1125		0
		07		2013		13.0667		13.1827		0
		07		2012		11.8691		13.0667		0
		07		2011		11.8490		11.8691		0
		07		2010		10.9399		11.8490		0

307

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		12.9582		13.0156		0
		08		2018		12.9582		12.3585		0
		08		2017		12.7150		12.9582		0
		08		2016		12.0880		12.7150		0
		08		2015		12.9036		12.0880		0
		08		2014		12.9993		12.9036		0
		08		2013		12.9114		12.9993		0
		08		2012		11.7522		12.9114		0
		08		2011		11.7563		11.7522		0
		08		2010		10.8767		11.7563		0
Rational Trend Aggregation VA Fund		01		2019		13.1655		13.8866		5,114
		01		2018		14.0353		13.1655		6,610
		01		2017		14.5074		14.0353		8,783
		01		2016		13.7967		14.5074		9,779
		01		2015		14.4778		13.7967		14,323
		01		2014		13.3698		14.4778		37,646
		01		2013		11.3376		13.3698		63,285
		01		2012		10.3481		11.3376		76,715
		01		2011		9.8314		10.3481		83,181
		01		2010		8.6875		9.8314		89,049
		02		2019		12.8733		13.5511		2,585
		02		2018		13.7514		12.8733		2,476
		02		2017		14.2426		13.7514		2,543
		02		2016		13.5725		14.2426		2,439
		02		2015		14.2716		13.5725		5,301
		02		2014		13.2061		14.2716		5,909
		02		2013		11.2217		13.2061		9,287
		02		2012		10.2633		11.2217		9,919
		02		2011		9.7707		10.2633		10,562
		02		2010		8.6514		9.7707		11,533
		03		2019		12.8009		13.4682		0
		03		2018		13.6811		12.8009		0
		03		2017		14.1768		13.6811		0
		03		2016		13.5168		14.1768		0
		03		2015		14.2202		13.5168		0
		03		2014		13.1654		14.2202		0
		03		2013		11.1928		13.1654		0
		03		2012		10.2421		11.1928		0
		03		2011		9.7555		10.2421		0
		03		2010		8.6424		9.7555		0
		04		2019		12.5865		13.2227		0
		04		2018		13.4723		12.5865		0
		04		2017		13.9816		13.4723		0
		04		2016		13.3511		13.9816		0
		04		2015		14.0675		13.3511		0
		04		2014		13.0439		14.0675		0
		04		2013		11.1065		13.0439		2,060
		04		2012		10.1788		11.1065		2,899
		04		2011		9.7100		10.1788		3,094
		04		2010		8.6153		9.7100		3,379

308

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		12.5199		13.1416		0
		05		2018		13.4037		12.5199		0
		05		2017		13.9176		13.4037		0
		05		2016		13.2967		13.9176		0
		05		2015		14.0173		13.2967		0
		05		2014		13.0040		14.0173		0
		05		2013		11.0781		13.0040		0
		05		2012		10.1580		11.0781		0
		05		2011		9.6951		10.1580		0
		05		2010		8.6064		9.6951		0
		06		2019		12.3062		12.9021		0
		06		2018		13.1989		12.3062		0
		06		2017		13.7255		13.1989		0
		06		2016		13.1333		13.7255		0
		06		2015		13.8663		13.1333		0
		06		2014		12.8837		13.8663		0
		06		2013		10.9925		12.8837		0
		06		2012		10.0951		10.9925		0
		06		2011		9.6498		10.0951		0
		06		2010		8.5794		9.6498		0
		07		2019		12.2370		12.8232		0
		07		2018		13.1314		12.2370		0
		07		2017		13.6622		13.1314		0
		07		2016		13.0794		13.6622		0
		07		2015		13.8165		13.0794		0
		07		2014		12.8440		13.8165		0
		07		2013		10.9642		12.8440		0
		07		2012		10.0743		10.9642		0
		07		2011		9.6348		10.0743		0
		07		2010		8.5704		9.6348		0
		08		2019		11.9632		12.5108		0
		08		2018		12.8638		11.9632		0
		08		2017		13.4110		12.8638		0
		08		2016		12.8653		13.4110		0
		08		2015		13.6182		12.8653		0
		08		2014		12.6857		13.6182		0
		08		2013		10.8513		12.6857		0
		08		2012		9.9911		10.8513		0
		08		2011		9.5749		9.9911		0
		08		2010		8.5346		9.5749		0
Rational Insider Buying VA Fund		01		2019		15.1552		18.4741		4,486
		01		2018		16.6110		15.1552		4,950
		01		2017		14.3780		16.6110		9,425
		01		2016		13.1767		14.3780		15,054
		01		2015		14.4394		13.1767		16,797
		01		2014		14.9987		14.4394		47,624
		01		2013		11.5660		14.9987		65,733
		01		2012		9.5958		11.5660		76,957
		01		2011		9.8511		9.5958		94,381
		01		2010		7.7319		9.8511		95,341
		02		2019		14.8189		18.0279		2,195
		02		2018		16.2752		14.8189		2,372
		02		2017		14.1156		16.2752		2,384
		02		2016		12.9625		14.1156		2,591
		02		2015		14.2337		12.9625		3,412
		02		2014		14.8152		14.2337		4,355
		02		2013		11.4478		14.8152		6,600
		02		2012		9.5172		11.4478		7,893
		02		2011		9.7903		9.5172		8,956
		02		2010		7.6997		9.7903		9,152

309

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		14.7356		17.9176		0
		03		2018		16.1919		14.7356		0
		03		2017		14.0505		16.1919		0
		03		2016		12.9093		14.0505		0
		03		2015		14.1825		12.9093		0
		03		2014		14.7695		14.1825		0
		03		2013		11.4183		14.7695		0
		03		2012		9.4975		11.4183		0
		03		2011		9.7751		9.4975		0
		03		2010		7.6917		9.7751		0
		04		2019		14.4888		17.5910		1,044
		04		2018		15.9449		14.4888		1,127
		04		2017		13.8570		15.9449		1,116
		04		2016		12.7511		13.8570		1,205
		04		2015		14.0302		12.7511		1,311
		04		2014		14.6333		14.0302		1,257
		04		2013		11.3303		14.6333		2,418
		04		2012		9.4389		11.3303		3,295
		04		2011		9.7296		9.4389		3,831
		04		2010		7.6677		9.7296		3,853
		05		2019		14.4074		17.4830		0
		05		2018		15.8636		14.4074		0
		05		2017		13.7935		15.8636		0
		05		2016		12.6991		13.7935		0
		05		2015		13.9801		12.6991		1,311
		05		2014		14.5884		13.9801		0
		05		2013		11.3014		14.5884		0
		05		2012		9.4196		11.3014		0
		05		2011		9.7146		9.4196		0
		05		2010		7.6597		9.7146		0
		06		2019		14.1660		17.1645		0
		06		2018		15.6213		14.1660		0
		06		2017		13.6031		15.6213		0
		06		2016		12.5431		13.6031		0
		06		2015		13.8296		12.5431		0
		06		2014		14.4536		13.8296		0
		06		2013		11.2141		14.4536		0
		06		2012		9.3613		11.2141		0
		06		2011		9.6693		9.3613		0
		06		2010		7.6357		9.6693		0
		07		2019		14.0864		17.0594		0
		07		2018		15.5414		14.0864		0
		07		2017		13.5403		15.5414		0
		07		2016		12.4916		13.5403		0
		07		2015		13.7799		12.4916		0
		07		2014		14.4090		13.7799		0
		07		2013		11.1852		14.4090		0
		07		2012		9.3419		11.1852		0
		07		2011		9.6542		9.3419		0
		07		2010		7.6277		9.6542		0

310

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		13.7712		16.6438		0
		08		2018		15.2247		13.7712		0
		08		2017		13.2914		15.2247		0
		08		2016		12.2871		13.2914		0
		08		2015		13.5821		12.2871		0
		08		2014		14.2314		13.5821		0
		08		2013		11.0700		14.2314		0
		08		2012		9.2648		11.0700		0
		08		2011		9.5942		9.2648		0
		08		2010		7.5958		9.5942		0
Invesco V.I. Equity and Income Fund, Series II		01		2019		16.2476		19.1681		182,632
		01		2018		18.3107		16.2476		208,870
		01		2017		16.8134		18.3107		256,086
		01		2016		14.8944		16.8134		279,941
		01		2015		15.5541		14.8944		318,574
		01		2014		14.5476		15.5541		331,408
		01		2013		11.8501		14.5476		381,581
		01		2012		10.7272		11.8501		313,788
		01		2011		11.0560		10.7272		319,212
		01		2010		10.0392		11.0560		301,342
		02		2019		15.8945		18.7140		47,368
		02		2018		17.9489		15.8945		58,601
		02		2017		16.5143		17.9489		64,773
		02		2016		14.6593		16.5143		74,099
		02		2015		15.3397		14.6593		139,673
		02		2014		14.3764		15.3397		129,135
		02		2013		11.7345		14.3764		134,180
		02		2012		10.6443		11.7345		61,379
		02		2011		10.9929		10.6443		63,628
		02		2010		10.0023		10.9929		68,714
		03		2019		15.8071		18.6018		0
		03		2018		17.8593		15.8071		306
		03		2017		16.4400		17.8593		301
		03		2016		14.6008		16.4400		292
		03		2015		15.2864		14.6008		314
		03		2014		14.3337		15.2864		310
		03		2013		11.7057		14.3337		321
		03		2012		10.6236		11.7057		339
		03		2011		10.9771		10.6236		346
		03		2010		9.9930		10.9771		350
		04		2019		15.5479		18.2691		17,292
		04		2018		17.5930		15.5479		27,213
		04		2017		16.2194		17.5930		32,737
		04		2016		14.4270		16.2194		20,802
		04		2015		15.1276		14.4270		33,739
		04		2014		14.2066		15.1276		31,086
		04		2013		11.6196		14.2066		51,293
		04		2012		10.5617		11.6196		31,995
		04		2011		10.9299		10.5617		19,860
		04		2010		9.9653		10.9299		21,030

311

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		15.4624		18.1592		0
		05		2018		17.5055		15.4624		0
		05		2017		16.1470		17.5055		0
		05		2016		14.3699		16.1470		0
		05		2015		15.0754		14.3699		0
		05		2014		14.1647		15.0754		0
		05		2013		11.5912		14.1647		0
		05		2012		10.5413		11.5912		0
		05		2011		10.9143		10.5413		0
		05		2010		9.9561		10.9143		0
		06		2019		15.2087		17.8347		0
		06		2018		17.2442		15.2087		0
		06		2017		15.9298		17.2442		0
		06		2016		14.1984		15.9298		0
		06		2015		14.9183		14.1984		0
		06		2014		14.0387		14.9183		0
		06		2013		11.5058		14.0387		0
		06		2012		10.4798		11.5058		0
		06		2011		10.8673		10.4798		0
		06		2010		9.9284		10.8673		0
		07		2019		15.1251		17.7277		0
		07		2018		17.1580		15.1251		0
		07		2017		15.8582		17.1580		0
		07		2016		14.1418		15.8582		0
		07		2015		14.8665		14.1418		0
		07		2014		13.9971		14.8665		0
		07		2013		11.4775		13.9971		0
		07		2012		10.4594		11.4775		0
		07		2011		10.8517		10.4594		0
		07		2010		9.9193		10.8517		0
		08		2019		14.7936		17.3040		0
		08		2018		16.8164		14.7936		0
		08		2017		15.5740		16.8164		0
		08		2016		13.9169		15.5740		0
		08		2015		14.6601		13.9169		0
		08		2014		13.8311		14.6601		0
		08		2013		11.3647		13.8311		0
		08		2012		10.3780		11.3647		0
		08		2011		10.7893		10.3780		0
		08		2010		9.8824		10.7893		0
Invesco V.I. American Value Fund, Series II		01		2019		16.1717		19.8258		15,626
		01		2018		18.8817		16.1717		17,079
		01		2017		17.5112		18.8817		26,749
		01		2016		15.4611		17.5112		31,554
		01		2015		17.3525		15.4611		51,730
		01		2014		16.1243		17.3525		56,604
		01		2013		12.2472		16.1243		45,099
		01		2012		10.6428		12.2472		40,333
		01		2011		10.7377		10.6428		44,260
		01		2010		8.9402		10.7377		34,201

312

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		15.8201		19.3560		11,117
		02		2018		18.5085		15.8201		13,685
		02		2017		17.1996		18.5085		13,083
		02		2016		15.2169		17.1996		14,607
		02		2015		17.1133		15.2169		18,017
		02		2014		15.9345		17.1133		24,525
		02		2013		12.1277		15.9345		16,562
		02		2012		10.5605		12.1277		8,114
		02		2011		10.6764		10.5605		8,645
		02		2010		8.9072		10.6764		5,443
		03		2019		15.7331		19.2399		0
		03		2018		18.4161		15.7331		0
		03		2017		17.1223		18.4161		0
		03		2016		15.1563		17.1223		0
		03		2015		17.0539		15.1563		0
		03		2014		15.8872		17.0539		0
		03		2013		12.0979		15.8872		0
		03		2012		10.5399		12.0979		0
		03		2011		10.6610		10.5399		0
		03		2010		8.8989		10.6610		0
		04		2019		15.4750		18.8957		13,649
		04		2018		18.1415		15.4750		17,852
		04		2017		16.8924		18.1415		17,388
		04		2016		14.9758		16.8924		19,100
		04		2015		16.8766		14.9758		20,672
		04		2014		15.7462		16.8766		21,905
		04		2013		12.0089		15.7462		21,032
		04		2012		10.4786		12.0089		15,790
		04		2011		10.6152		10.4786		16,801
		04		2010		8.8742		10.6152		17,188
		05		2019		15.3899		18.7819		0
		05		2018		18.0511		15.3899		0
		05		2017		16.8170		18.0511		0
		05		2016		14.9165		16.8170		0
		05		2015		16.8183		14.9165		0
		05		2014		15.6998		16.8183		0
		05		2013		11.9796		15.6998		0
		05		2012		10.4583		11.9796		0
		05		2011		10.6000		10.4583		0
		05		2010		8.8661		10.6000		0
		06		2019		15.1374		18.4464		0
		06		2018		17.7816		15.1374		0
		06		2017		16.5908		17.7816		0
		06		2016		14.7384		16.5908		0
		06		2015		16.6432		14.7384		0
		06		2014		15.5602		16.6432		0
		06		2013		11.8913		15.5602		0
		06		2012		10.3973		11.8913		0
		06		2011		10.5543		10.3973		0
		06		2010		8.8414		10.5543		0

313

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		15.0541		18.3357		0
		07		2018		17.6928		15.0541		0
		07		2017		16.5162		17.6928		0
		07		2016		14.6797		16.5162		0
		07		2015		16.5853		14.6797		0
		07		2014		15.5140		16.5853		0
		07		2013		11.8621		15.5140		0
		07		2012		10.3770		11.8621		0
		07		2011		10.5391		10.3770		0
		07		2010		8.8332		10.5391		0
		08		2019		14.7242		17.8974		0
		08		2018		17.3404		14.7242		0
		08		2017		16.2202		17.3404		0
		08		2016		14.4462		16.2202		0
		08		2015		16.3550		14.4462		0
		08		2014		15.3300		16.3550		0
		08		2013		11.7454		15.3300		0
		08		2012		10.2962		11.7454		0
		08		2011		10.4785		10.2962		0
		08		2010		8.8004		10.4785		0
Invesco V.I. Comstock Fund, Series II		01		2019		15.1885		18.6549		88,479
		01		2018		17.6327		15.1885		106,309
		01		2017		15.2549		17.6327		126,164
		01		2016		13.2653		15.2549		153,184
		01		2015		14.3858		13.2653		190,658
		01		2014		13.4139		14.3858		207,788
		01		2013		10.0593		13.4139		228,694
		01		2012		8.6055		10.0593		166,423
		01		2011		8.9425		8.6055		185,457
		01		2010		7.8629		8.9425		219,114
		02		2019		14.8276		18.1752		58,846
		02		2018		17.2484		14.8276		62,719
		02		2017		14.9525		17.2484		69,527
		02		2016		13.0288		14.9525		113,890
		02		2015		14.1582		13.0288		140,035
		02		2014		13.2285		14.1582		160,206
		02		2013		9.9405		13.2285		165,496
		02		2012		8.5213		9.9405		142,091
		02		2011		8.8731		8.5213		165,470
		02		2010		7.8177		8.8731		172,302
		03		2019		14.7384		18.0568		397
		03		2018		17.1533		14.7384		462
		03		2017		14.8775		17.1533		485
		03		2016		12.9701		14.8775		562
		03		2015		14.1016		12.9701		635
		03		2014		13.1824		14.1016		957
		03		2013		9.9109		13.1824		1,541
		03		2012		8.5003		9.9109		0
		03		2011		8.8557		8.5003		0
		03		2010		7.8064		8.8557		0

314

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		14.4741		17.7062		25,448
		04		2018		16.8713		14.4741		37,038
		04		2017		14.6550		16.8713		41,631
		04		2016		12.7957		14.6550		31,869
		04		2015		13.9333		12.7957		43,117
		04		2014		13.0451		13.9333		43,191
		04		2013		9.8227		13.0451		45,256
		04		2012		8.4376		9.8227		42,388
		04		2011		8.8039		8.4376		54,032
		04		2010		7.7726		8.8039		53,318
		05		2019		14.3870		17.5905		0
		05		2018		16.7786		14.3870		0
		05		2017		14.5820		16.7786		0
		05		2016		12.7384		14.5820		0
		05		2015		13.8780		12.7384		0
		05		2014		12.9999		13.8780		0
		05		2013		9.7936		12.9999		0
		05		2012		8.4170		9.7936		0
		05		2011		8.7868		8.4170		0
		05		2010		7.7615		8.7868		0
		06		2019		14.1288		17.2491		0
		06		2018		16.5022		14.1288		0
		06		2017		14.3633		16.5022		0
		06		2016		12.5667		14.3633		0
		06		2015		13.7120		12.5667		0
		06		2014		12.8641		13.7120		0
		06		2013		9.7062		12.8641		0
		06		2012		8.3548		9.7062		0
		06		2011		8.7352		8.3548		0
		06		2010		7.7278		8.7352		0
		07		2019		14.0438		17.1368		0
		07		2018		16.4113		14.0438		0
		07		2017		14.2913		16.4113		0
		07		2016		12.5101		14.2913		0
		07		2015		13.6572		12.5101		0
		07		2014		12.8193		13.6572		0
		07		2013		9.6774		12.8193		0
		07		2012		8.3342		9.6774		0
		07		2011		8.7182		8.3342		0
		07		2010		7.7166		8.7182		0
		08		2019		13.7074		16.6923		0
		08		2018		16.0509		13.7074		0
		08		2017		14.0059		16.0509		26
		08		2016		12.2855		14.0059		30
		08		2015		13.4395		12.2855		38
		08		2014		12.6409		13.4395		39
		08		2013		9.5622		12.6409		46
		08		2012		8.2520		9.5622		38
		08		2011		8.6499		8.2520		0
		08		2010		7.6719		8.6499		0

315

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
Invesco V.I. International Growth Fund, Series II		01		2019		12.4951		15.7519		40,199
		01		2018		14.9914		12.4951		42,043
		01		2017		12.4255		14.9914		53,310
		01		2016		12.7290		12.4255		61,399
		01		2015		13.2970		12.7290		84,493
		01		2014		13.5148		13.2970		31,638
		01		2013		11.5808		13.5148		12,067
		01		2012		10.2226		11.5808		0
		01		2011		10.0000		10.2226		0
		02		2019		12.3117		15.4896		11,704
		02		2018		14.8012		12.3117		14,574
		02		2017		12.2924		14.8012		15,751
		02		2016		12.6184		12.2924		17,231
		02		2015		13.2083		12.6184		17,665
		02		2014		13.4520		13.2083		18,381
		02		2013		11.5505		13.4520		2,023
		02		2012		10.2168		11.5505		0
		02		2011		10.0000		10.2168		0
		03		2019		12.2661		15.4245		0
		03		2018		14.7538		12.2661		0
		03		2017		12.2593		14.7538		0
		03		2016		12.5908		12.2593		0
		03		2015		13.1861		12.5908		0
		03		2014		13.4363		13.1861		0
		03		2013		11.5429		13.4363		0
		03		2012		10.2153		11.5429		0
		03		2011		10.0000		10.2153		0
		04		2019		12.1304		15.2308		4,107
		04		2018		14.6127		12.1304		7,008
		04		2017		12.1604		14.6127		6,466
		04		2016		12.5084		12.1604		8,107
		04		2015		13.1199		12.5084		7,905
		04		2014		13.3894		13.1199		6,478
		04		2013		11.5202		13.3894		13,212
		04		2012		10.2109		11.5202		0
		04		2011		10.0000		10.2109		0
		05		2019		12.0853		15.1663		0
		05		2018		14.5660		12.0853		0
		05		2017		12.1278		14.5660		0
		05		2016		12.4812		12.1278		0
		05		2015		13.0981		12.4812		0
		05		2014		13.3739		13.0981		0
		05		2013		11.5127		13.3739		0
		05		2012		10.2095		11.5127		0
		05		2011		10.0000		10.2095		0
		06		2019		11.9516		14.9763		0
		06		2018		14.4266		11.9516		0
		06		2017		12.0297		14.4266		0
		06		2016		12.3993		12.0297		0
		06		2015		13.0321		12.3993		0
		06		2014		13.3270		13.0321		0
		06		2013		11.4900		13.3270		51
		06		2012		10.2051		11.4900		0
		06		2011		10.0000		10.2051		0

316

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		11.9074		14.9133		0
		07		2018		14.3805		11.9074		0
		07		2017		11.9972		14.3805		0
		07		2016		12.3722		11.9972		0
		07		2015		13.0103		12.3722		0
		07		2014		13.3115		13.0103		0
		07		2013		11.4825		13.3115		0
		07		2012		10.2036		11.4825		0
		07		2011		10.0000		10.2036		0
		08		2019		11.7311		14.6627		0
		08		2018		14.1966		11.7311		0
		08		2017		11.8679		14.1966		0
		08		2016		12.2639		11.8679		0
		08		2015		12.9229		12.2639		0
		08		2014		13.2493		12.9229		0
		08		2013		11.4522		13.2493		0
		08		2012		10.1978		11.4522		0
		08		2011		10.0000		10.1978		0
JPMorgan Insurance Trust Core Bond Portfolio, Class 2		01		2019		10.1712		10.7853		284,449
		01		2018		10.3710		10.1712		276,963
		01		2017		10.2122		10.3710		362,749
		01		2016		10.2015		10.2122		347,514
		01		2015		10.2889		10.2015		237,976
		01		2014		9.9959		10.2889		191,674
		01		2013		10.3488		9.9959		127,509
		01		2012		10.0208		10.3488		28,092
		01		2011		10.0000		10.0208		16,824
		02		2019		10.0219		10.6057		83,430
		02		2018		10.2394		10.0219		84,717
		02		2017		10.1028		10.2394		100,087
		02		2016		10.1129		10.1028		104,376
		02		2015		10.2203		10.1129		105,887
		02		2014		9.9495		10.2203		105,559
		02		2013		10.3217		9.9495		36,936
		02		2012		10.0151		10.3217		8,777
		02		2011		10.0000		10.0151		0
		03		2019		9.9848		10.5611		0
		03		2018		10.2067		9.9848		0
		03		2017		10.0756		10.2067		0
		03		2016		10.0907		10.0756		0
		03		2015		10.2032		10.0907		0
		03		2014		9.9379		10.2032		0
		03		2013		10.3150		9.9379		0
		03		2012		10.0137		10.3150		0
		03		2011		10.0000		10.0137		0

317

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		9.8743		10.4285		43,960
		04		2018		10.1090		9.8743		45,934
		04		2017		9.9943		10.1090		82,186
		04		2016		10.0247		9.9943		82,911
		04		2015		10.1519		10.0247		99,351
		04		2014		9.9031		10.1519		102,310
		04		2013		10.2947		9.9031		67,531
		04		2012		10.0094		10.2947		1,621
		04		2011		10.0000		10.0094		0
		05		2019		9.8376		10.3843		0
		05		2018		10.0768		9.8376		0
		05		2017		9.9675		10.0768		0
		05		2016		10.0029		9.9675		0
		05		2015		10.1350		10.0029		0
		05		2014		9.8916		10.1350		0
		05		2013		10.2880		9.8916		0
		05		2012		10.0080		10.2880		0
		05		2011		10.0000		10.0080		0
		06		2019		9.7288		10.2543		0
		06		2018		9.9803		9.7288		0
		06		2017		9.8869		9.9803		0
		06		2016		9.9373		9.8869		0
		06		2015		10.0840		9.9373		0
		06		2014		9.8570		10.0840		0
		06		2013		10.2677		9.8570		0
		06		2012		10.0037		10.2677		0
		06		2011		10.0000		10.0037		0
		07		2019		9.6928		10.2111		0
		07		2018		9.9484		9.6928		0
		07		2017		9.8602		9.9484		0
		07		2016		9.9155		9.8602		0
		07		2015		10.0671		9.9155		0
		07		2014		9.8455		10.0671		0
		07		2013		10.2609		9.8455		0
		07		2012		10.0022		10.2609		0
		07		2011		10.0000		10.0022		0
		08		2019		9.5493		10.0395		0
		08		2018		9.8211		9.5493		0
		08		2017		9.7539		9.8211		0
		08		2016		9.8287		9.7539		0
		08		2015		9.9995		9.8287		0
		08		2014		9.7994		9.9995		0
		08		2013		10.2339		9.7994		0
		08		2012		9.9965		10.2339		71
		08		2011		10.0000		9.9965		0

318

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
JPMorgan Insurance Trust U.S. Equity Portfolio, Class 2		01		2019		21.0878		27.2480		92,586
		01		2018		22.9257		21.0878		82,524
		01		2017		19.1078		22.9257		94,282
		01		2016		17.5602		19.1078		97,176
		01		2015		17.7592		17.5602		72,745
		01		2014		15.9022		17.7592		80,530
		01		2013		11.9038		15.9022		29,379
		01		2012		10.3263		11.9038		19,052
		01		2011		10.0000		10.3263		0
		02		2019		20.7784		26.7944		15,156
		02		2018		22.6349		20.7784		25,914
		02		2017		18.9033		22.6349		26,367
		02		2016		17.4077		18.9033		27,034
		02		2015		17.6409		17.4077		31,994
		02		2014		15.8285		17.6409		29,198
		02		2013		11.8727		15.8285		13,562
		02		2012		10.3204		11.8727		3,853
		02		2011		10.0000		10.3204		0
		03		2019		20.7015		26.6818		0
		03		2018		22.5625		20.7015		0
		03		2017		18.8523		22.5625		0
		03		2016		17.3696		18.8523		2,098
		03		2015		17.6113		17.3696		5,964
		03		2014		15.8100		17.6113		0
		03		2013		11.8649		15.8100		0
		03		2012		10.3189		11.8649		0
		03		2011		10.0000		10.3189		0
		04		2019		20.4724		26.3469		3,073
		04		2018		22.3467		20.4724		3,860
		04		2017		18.7003		22.3467		6,070
		04		2016		17.2559		18.7003		16,122
		04		2015		17.5228		17.2559		22,249
		04		2014		15.7547		17.5228		34,485
		04		2013		11.8416		15.7547		3,050
		04		2012		10.3145		11.8416		0
		04		2011		10.0000		10.3145		0
		05		2019		20.3963		26.2352		0
		05		2018		22.2754		20.3963		0
		05		2017		18.6502		22.2754		0
		05		2016		17.2184		18.6502		0
		05		2015		17.4937		17.2184		0
		05		2014		15.7365		17.4937		0
		05		2013		11.8338		15.7365		0
		05		2012		10.3131		11.8338		0
		05		2011		10.0000		10.3131		0

319

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		20.1709		25.9067		0
		06		2018		22.0622		20.1709		0
		06		2017		18.4994		22.0622		0
		06		2016		17.1055		18.4994		0
		06		2015		17.4056		17.1055		0
		06		2014		15.6814		17.4056		0
		06		2013		11.8105		15.6814		0
		06		2012		10.3086		11.8105		0
		06		2011		10.0000		10.3086		0
		07		2019		20.0962		25.7977		0
		07		2018		21.9917		20.0962		0
		07		2017		18.4495		21.9917		0
		07		2016		17.0681		18.4495		0
		07		2015		17.3764		17.0681		0
		07		2014		15.6631		17.3764		0
		07		2013		11.8027		15.6631		0
		07		2012		10.3072		11.8027		0
		07		2011		10.0000		10.3072		0
		08		2019		19.7987		25.3643		0
		08		2018		21.7105		19.7987		0
		08		2017		18.2506		21.7105		0
		08		2016		16.9187		18.2506		0
		08		2015		17.2598		16.9187		0
		08		2014		15.5899		17.2598		0
		08		2013		11.7717		15.5899		0
		08		2012		10.3013		11.7717		0
		08		2011		10.0000		10.3013		0
Lazard Retirement Emerging Markets Equity Portfolio, Service Class		01		2019		9.1498		10.6265		170,862
		01		2018		11.4296		9.1498		202,018
		01		2017		9.0953		11.4296		225,231
		01		2016		7.6607		9.0953		315,508
		01		2015		9.7483		7.6607		413,897
		01		2014		10.3992		9.7483		426,020
		01		2013		10.7122		10.3992		440,416
		01		2012		8.9293		10.7122		398,763
		01		2011		11.0775		8.9293		465,278
		01		2010		9.1843		11.0775		473,487
		02		2019		8.9509		10.3747		110,069
		02		2018		11.2037		8.9509		126,680
		02		2017		8.9334		11.2037		120,901
		02		2016		7.5396		8.9334		138,769
		02		2015		9.6139		7.5396		185,406
		02		2014		10.2767		9.6139		200,614
		02		2013		10.6077		10.2767		209,030
		02		2012		8.8603		10.6077		202,793
		02		2011		11.0142		8.8603		248,225
		02		2010		9.1505		11.0142		251,247

320

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		8.9017		10.3124		2,038
		03		2018		11.1477		8.9017		2,263
		03		2017		8.8933		11.1477		2,207
		03		2016		7.5096		8.8933		3,111
		03		2015		9.5805		7.5096		3,800
		03		2014		10.2462		9.5805		3,279
		03		2013		10.5816		10.2462		3,140
		03		2012		8.8431		10.5816		2,448
		03		2011		10.9984		8.8431		2,609
		03		2010		9.1420		10.9984		3,904
		04		2019		8.7556		10.1279		40,712
		04		2018		10.9814		8.7556		42,069
		04		2017		8.7738		10.9814		58,332
		04		2016		7.4201		8.7738		51,865
		04		2015		9.4809		7.4201		57,212
		04		2014		10.1552		9.4809		56,538
		04		2013		10.5037		10.1552		56,502
		04		2012		8.7915		10.5037		78,165
		04		2011		10.9511		8.7915		81,902
		04		2010		9.1166		10.9511		88,051
		05		2019		8.7075		10.0670		0
		05		2018		10.9268		8.7075		0
		05		2017		8.7347		10.9268		0
		05		2016		7.3907		8.7347		0
		05		2015		9.4482		7.3907		2,598
		05		2014		10.1253		9.4482		0
		05		2013		10.4781		10.1253		0
		05		2012		8.7746		10.4781		0
		05		2011		10.9355		8.7746		0
		05		2010		9.1082		10.9355		0
		06		2019		8.5646		9.8870		0
		06		2018		10.7636		8.5646		0
		06		2017		8.6171		10.7636		0
		06		2016		7.3025		8.6171		17
		06		2015		9.3497		7.3025		51
		06		2014		10.0353		9.3497		67
		06		2013		10.4009		10.0353		85
		06		2012		8.7234		10.4009		92
		06		2011		10.8884		8.7234		122
		06		2010		9.0829		10.8884		793

321

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		8.5174		9.8276		311
		07		2018		10.7098		8.5174		342
		07		2017		8.5784		10.7098		326
		07		2016		7.2733		8.5784		396
		07		2015		9.3172		7.2733		475
		07		2014		10.0054		9.3172		421
		07		2013		10.3753		10.0054		427
		07		2012		8.7063		10.3753		767
		07		2011		10.8727		8.7063		2,170
		07		2010		9.0744		10.8727		1,582
		08		2019		8.3307		9.5927		0
		08		2018		10.4965		8.3307		0
		08		2017		8.4246		10.4965		0
		08		2016		7.1576		8.4246		0
		08		2015		9.1878		7.1576		0
		08		2014		9.8868		9.1878		0
		08		2013		10.2733		9.8868		0
		08		2012		8.6386		10.2733		0
		08		2011		10.8102		8.6386		0
		08		2010		9.0408		10.8102		0
Lord Abbett Series Fund, Inc. - Fundamental Equity Portfolio, Class VC		01		2019		23.0915		27.5839		51,344
		01		2018		25.5784		23.0915		65,281
		01		2017		23.1121		25.5784		81,559
		01		2016		20.3134		23.1121		99,908
		01		2015		21.4017		20.3134		141,568
		01		2014		20.3206		21.4017		156,676
		01		2013		15.2269		20.3206		189,919
		01		2012		14.0091		15.2269		214,237
		01		2011		14.9208		14.0091		233,798
		01		2010		12.7523		14.9208		266,880
		02		2019		22.3946		26.6978		54,270
		02		2018		24.8564		22.3946		61,925
		02		2017		22.5049		24.8564		76,626
		02		2016		19.8201		22.5049		98,232
		02		2015		20.9245		19.8201		136,950
		02		2014		19.9080		20.9245		152,914
		02		2013		14.9481		19.9080		180,660
		02		2012		13.7808		14.9481		187,263
		02		2011		14.7075		13.7808		226,011
		02		2010		12.5956		14.7075		293,053
		03		2019		22.2231		26.4801		947
		03		2018		24.6786		22.2231		948
		03		2017		22.3551		24.6786		948
		03		2016		19.6982		22.3551		949
		03		2015		20.8064		19.6982		1,064
		03		2014		19.8058		20.8064		1,202
		03		2013		14.8790		19.8058		1,330
		03		2012		13.7242		14.8790		8,441
		03		2011		14.6545		13.7242		19,953
		03		2010		12.5566		14.6545		19,302

322

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		21.7163		25.8373		16,606
		04		2018		24.1525		21.7163		17,883
		04		2017		21.9115		24.1525		21,559
		04		2016		19.3370		21.9115		28,159
		04		2015		20.4563		19.3370		29,939
		04		2014		19.5024		20.4563		33,497
		04		2013		14.6734		19.5024		51,061
		04		2012		13.5555		14.6734		42,822
		04		2011		14.4965		13.5555		51,491
		04		2010		12.4403		14.4965		83,944
		05		2019		21.5504		25.6264		0
		05		2018		23.9805		21.5504		0
		05		2017		21.7667		23.9805		0
		05		2016		19.2190		21.7667		0
		05		2015		20.3417		19.2190		0
		05		2014		19.4030		20.3417		0
		05		2013		14.6061		19.4030		0
		05		2012		13.5001		14.6061		0
		05		2011		14.4447		13.5001		0
		05		2010		12.4020		14.4447		0
		06		2019		21.0586		25.0044		0
		06		2018		23.4684		21.0586		0
		06		2017		21.3338		23.4684		0
		06		2016		18.8657		21.3338		0
		06		2015		19.9985		18.8657		0
		06		2014		19.1050		19.9985		0
		06		2013		14.4039		19.1050		0
		06		2012		13.3338		14.4039		1,007
		06		2011		14.2886		13.3338		1,977
		06		2010		12.2869		14.2886		2,462
		07		2019		20.8972		24.8003		0
		07		2018		23.3004		20.8972		0
		07		2017		21.1918		23.3004		0
		07		2016		18.7497		21.1918		0
		07		2015		19.8857		18.7497		0
		07		2014		19.0069		19.8857		0
		07		2013		14.3372		19.0069		0
		07		2012		13.2789		14.3372		0
		07		2011		14.2370		13.2789		0
		07		2010		12.2488		14.2370		0
		08		2019		20.2616		23.9971		0
		08		2018		22.6379		20.2616		0
		08		2017		20.6311		22.6379		0
		08		2016		18.2910		20.6311		0
		08		2015		19.4391		18.2910		0
		08		2014		18.6182		19.4391		0
		08		2013		14.0729		18.6182		0
		08		2012		13.0610		14.0729		0
		08		2011		14.0321		13.0610		0
		08		2010		12.0973		14.0321		0

323

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
Lord Abbett Series Fund, Inc. - Growth Opportunities Portfolio, Class VC		01		2019		24.6050		32.9843		36,005
		01		2018		25.7766		24.6050		44,197
		01		2017		21.3327		25.7766		50,760
		01		2016		21.4372		21.3327		70,552
		01		2015		21.2298		21.4372		86,348
		01		2014		20.3611		21.2298		98,722
		01		2013		15.1104		20.3611		126,386
		01		2012		13.4731		15.1104		169,557
		01		2011		15.2366		13.4731		218,120
		01		2010		12.6092		15.2366		238,461
		02		2019		23.8623		31.9246		28,467
		02		2018		25.0490		23.8623		36,677
		02		2017		20.7721		25.0490		45,863
		02		2016		20.9164		20.7721		57,899
		02		2015		20.7563		20.9164		74,533
		02		2014		19.9477		20.7563		93,016
		02		2013		14.8337		19.9477		130,401
		02		2012		13.2535		14.8337		191,873
		02		2011		15.0188		13.2535		197,818
		02		2010		12.4543		15.0188		207,392
		03		2019		23.6796		31.6642		1,437
		03		2018		24.8698		23.6796		2,124
		03		2017		20.6339		24.8698		2,763
		03		2016		20.7878		20.6339		3,137
		03		2015		20.6393		20.7878		3,713
		03		2014		19.8453		20.6393		4,418
		03		2013		14.7651		19.8453		4,498
		03		2012		13.1990		14.7651		6,851
		03		2011		14.9646		13.1990		10,199
		03		2010		12.4157		14.9646		12,230
		04		2019		23.1396		30.8955		51,675
		04		2018		24.3395		23.1396		57,687
		04		2017		20.2244		24.3395		59,050
		04		2016		20.4066		20.2244		60,565
		04		2015		20.2918		20.4066		66,764
		04		2014		19.5411		20.2918		69,487
		04		2013		14.5611		19.5411		95,280
		04		2012		13.0367		14.5611		127,331
		04		2011		14.8033		13.0367		139,597
		04		2010		12.3007		14.8033		187,508

324

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		22.9626		30.6433		67
		05		2018		24.1661		22.9626		76
		05		2017		20.0907		24.1661		333
		05		2016		20.2820		20.0907		1,228
		05		2015		20.1781		20.2820		1,188
		05		2014		19.4415		20.1781		1,232
		05		2013		14.4942		19.4415		351
		05		2012		12.9834		14.4942		397
		05		2011		14.7503		12.9834		381
		05		2010		12.2629		14.7503		1,446
		06		2019		22.4387		29.8995		0
		06		2018		23.6501		22.4387		997
		06		2017		19.6921		23.6501		1,304
		06		2016		19.9092		19.6921		2,871
		06		2015		19.8377		19.9092		2,951
		06		2014		19.1430		19.8377		3,149
		06		2013		14.2936		19.1430		3,870
		06		2012		12.8235		14.2936		6,191
		06		2011		14.5910		12.8235		6,394
		06		2010		12.1490		14.5910		6,899
		07		2019		22.2667		29.6554		39
		07		2018		23.4807		22.2667		219
		07		2017		19.5600		23.4807		263
		07		2016		19.7867		19.5600		576
		07		2015		19.7258		19.7867		651
		07		2014		19.0446		19.7258		804
		07		2013		14.2274		19.0446		2,214
		07		2012		12.7707		14.2274		3,373
		07		2011		14.5383		12.7707		6,504
		07		2010		12.1114		14.5383		8,913
		08		2019		21.5894		28.6951		0
		08		2018		22.8131		21.5894		0
		08		2017		19.0425		22.8131		0
		08		2016		19.3027		19.0425		0
		08		2015		19.2828		19.3027		0
		08		2014		18.6552		19.2828		0
		08		2013		13.9651		18.6552		1,033
		08		2012		12.5611		13.9651		1,155
		08		2011		14.3291		12.5611		1,100
		08		2010		11.9615		14.3291		1,443

325

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
MFS Blended Research Core Equity Portfolio, Service Class		01		2019		26.1140		33.0835		91,332
		01		2018		28.8741		26.1140		110,406
		01		2017		24.3803		28.8741		129,002
		01		2016		22.9274		24.3803		171,213
		01		2015		23.1228		22.9274		195,379
		01		2014		20.9501		23.1228		244,463
		01		2013		15.6643		20.9501		324,606
		01		2012		13.8456		15.6643		479,003
		01		2011		13.8438		13.8456		638,905
		01		2010		12.1284		13.8438		775,554
		02		2019		25.2677		31.9473		96,259
		02		2018		27.9948		25.2677		117,137
		02		2017		23.6852		27.9948		143,325
		02		2016		22.3192		23.6852		174,289
		02		2015		22.5553		22.3192		226,104
		02		2014		20.4776		22.5553		276,916
		02		2013		15.3422		20.4776		412,457
		02		2012		13.5886		15.3422		570,367
		02		2011		13.6146		13.5886		683,718
		02		2010		11.9518		13.6146		830,988
		03		2019		25.0597		31.6684		6,864
		03		2018		27.7784		25.0597		6,823
		03		2017		23.5139		27.7784		8,907
		03		2016		22.1691		23.5139		10,238
		03		2015		22.4151		22.1691		14,873
		03		2014		20.3607		22.4151		17,526
		03		2013		15.2624		20.3607		16,864
		03		2012		13.5249		15.2624		28,616
		03		2011		13.5576		13.5249		43,541
		03		2010		11.9079		13.5576		56,802
		04		2019		24.4460		30.8463		53,406
		04		2018		27.1392		24.4460		63,517
		04		2017		23.0076		27.1392		70,161
		04		2016		21.7250		23.0076		80,431
		04		2015		21.9998		21.7250		106,303
		04		2014		20.0141		21.9998		124,352
		04		2013		15.0256		20.0141		196,569
		04		2012		13.3356		15.0256		271,042
		04		2011		13.3883		13.3356		344,194
		04		2010		11.7772		13.3883		441,208

326

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		24.2452		30.5769		304
		05		2018		26.9304		24.2452		316
		05		2017		22.8424		26.9304		1,152
		05		2016		21.5799		22.8424		4,136
		05		2015		21.8640		21.5799		4,164
		05		2014		19.9006		21.8640		4,255
		05		2013		14.9480		19.9006		1,327
		05		2012		13.2735		14.9480		1,468
		05		2011		13.3327		13.2735		1,511
		05		2010		11.7342		13.3327		7,004
		06		2019		23.6508		29.7829		0
		06		2018		26.3096		23.6508		3,527
		06		2017		22.3492		26.3096		4,659
		06		2016		21.1465		22.3492		10,028
		06		2015		21.4578		21.1465		10,941
		06		2014		19.5610		21.4578		11,689
		06		2013		14.7154		19.5610		18,710
		06		2012		13.0872		14.7154		25,470
		06		2011		13.1657		13.0872		29,390
		06		2010		11.6051		13.1657		38,399
		07		2019		23.2259		29.2332		179
		07		2018		25.8501		23.2259		946
		07		2017		21.9699		25.8501		1,098
		07		2016		20.7982		21.9699		2,381
		07		2015		21.1152		20.7982		2,871
		07		2014		19.2585		21.1152		3,667
		07		2013		14.4953		19.2585		12,800
		07		2012		12.8980		14.4953		17,828
		07		2011		12.9821		12.8980		33,527
		07		2010		11.4490		12.9821		52,102
		08		2019		22.4930		28.2532		0
		08		2018		25.0856		22.4930		0
		08		2017		21.3635		25.0856		0
		08		2016		20.2656		21.3635		0
		08		2015		20.6167		20.2656		0
		08		2014		18.8425		20.6167		1,468
		08		2013		14.2112		18.8425		5,575
		08		2012		12.6713		14.2112		6,554
		08		2011		12.7801		12.6713		7,219
		08		2010		11.2940		12.7801		9,880
MFS Corporate Bond Portfolio, Service Class		01		2019		17.4133		19.5931		339,713
		01		2018		18.3217		17.4133		327,321
		01		2017		17.5637		18.3217		418,034
		01		2016		16.8587		17.5637		473,728
		01		2015		17.2506		16.8587		489,015
		01		2014		16.6192		17.2506		591,761
		01		2013		16.9931		16.6192		546,585
		01		2012		15.5748		16.9931		569,617
		01		2011		14.9038		15.5748		606,345
		01		2010		13.6997		14.9038		787,620

327

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		16.8490		18.9201		124,123
		02		2018		17.7637		16.8490		124,092
		02		2017		17.0630		17.7637		146,420
		02		2016		16.4114		17.0630		195,664
		02		2015		16.8271		16.4114		204,968
		02		2014		16.2443		16.8271		230,510
		02		2013		16.6436		16.2443		207,280
		02		2012		15.2858		16.6436		202,906
		02		2011		14.6570		15.2858		237,365
		02		2010		13.5002		14.6570		185,861
		03		2019		16.7102		18.7549		2,742
		03		2018		17.6264		16.7102		1,046
		03		2017		16.9396		17.6264		1,043
		03		2016		16.3010		16.9396		5,142
		03		2015		16.7225		16.3010		1,411
		03		2014		16.1516		16.7225		1,449
		03		2013		16.5571		16.1516		1,786
		03		2012		15.2142		16.5571		880
		03		2011		14.5957		15.2142		878
		03		2010		13.4506		14.5957		914
		04		2019		16.3010		18.2681		102,442
		04		2018		17.2208		16.3010		114,490
		04		2017		16.5748		17.2208		137,954
		04		2016		15.9745		16.5748		141,074
		04		2015		16.4127		15.9745		123,226
		04		2014		15.8766		16.4127		144,167
		04		2013		16.3002		15.8766		158,402
		04		2012		15.0012		16.3002		148,319
		04		2011		14.4134		15.0012		155,315
		04		2010		13.3030		14.4134		167,798
		05		2019		16.1672		18.1086		0
		05		2018		17.0884		16.1672		0
		05		2017		16.4559		17.0884		0
		05		2016		15.8679		16.4559		0
		05		2015		16.3114		15.8679		0
		05		2014		15.7867		16.3114		13,546
		05		2013		16.2161		15.7867		13,673
		05		2012		14.9314		16.2161		13,470
		05		2011		14.3536		14.9314		13,546
		05		2010		13.2546		14.3536		0
		06		2019		15.7708		17.6384		0
		06		2018		16.6944		15.7708		0
		06		2017		16.1006		16.6944		0
		06		2016		15.5492		16.1006		0
		06		2015		16.0084		15.5492		0
		06		2014		15.5173		16.0084		0
		06		2013		15.9638		15.5173		27,009
		06		2012		14.7219		15.9638		26,356
		06		2011		14.1739		14.7219		26,668
		06		2010		13.1087		14.1739		27,787

328

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		13.9607		15.6061		0
		07		2018		14.7858		13.9607		0
		07		2017		14.2671		14.7858		0
		07		2016		13.7855		14.2671		0
		07		2015		14.1999		13.7855		0
		07		2014		13.7712		14.1999		0
		07		2013		14.1748		13.7712		0
		07		2012		13.0787		14.1748		850
		07		2011		12.5983		13.0787		816
		07		2010		11.6575		12.5983		1,808
		08		2019		13.5201		15.0829		0
		08		2018		14.3484		13.5201		0
		08		2017		13.8732		14.3484		0
		08		2016		13.4324		13.8732		0
		08		2015		13.8646		13.4324		0
		08		2014		13.4737		13.8646		0
		08		2013		13.8970		13.4737		0
		08		2012		12.8489		13.8970		52
		08		2011		12.4023		12.8489		0
		08		2010		11.4997		12.4023		0
MFS Core Equity Portfolio, Service Class		01		2019		19.2946		25.2023		80,584
		01		2018		20.4616		19.2946		105,337
		01		2017		16.7170		20.4616		155,151
		01		2016		15.3114		16.7170		185,564
		01		2015		15.6394		15.3114		212,717
		01		2014		14.3246		15.6394		229,113
		01		2013		10.8518		14.3246		256,179
		01		2012		9.4978		10.8518		290,739
		01		2011		9.7844		9.4978		318,102
		01		2010		8.5111		9.7844		263,255
		02		2019		18.8361		24.5542		65,025
		02		2018		20.0157		18.8361		74,018
		02		2017		16.3855		20.0157		75,626
		02		2016		15.0384		16.3855		97,061
		02		2015		15.3919		15.0384		106,450
		02		2014		14.1266		15.3919		87,281
		02		2013		10.7236		14.1266		117,639
		02		2012		9.4048		10.7236		159,121
		02		2011		9.7083		9.4048		189,747
		02		2010		8.4622		9.7083		133,445
		03		2019		18.7228		24.3943		1,011
		03		2018		19.9054		18.7228		0
		03		2017		16.3034		19.9054		0
		03		2016		14.9707		16.3034		0
		03		2015		15.3304		14.9707		1,278
		03		2014		14.0774		15.3304		1,273
		03		2013		10.6917		14.0774		2,316
		03		2012		9.3817		10.6917		1,964
		03		2011		9.6894		9.3817		2,087
		03		2010		8.4499		9.6894		1,991

329

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		18.3870		23.9207		46,172
		04		2018		19.5781		18.3870		91,602
		04		2017		16.0595		19.5781		103,022
		04		2016		14.7694		16.0595		119,223
		04		2015		15.1475		14.7694		123,726
		04		2014		13.9307		15.1475		120,026
		04		2013		10.5965		13.9307		75,185
		04		2012		9.3125		10.5965		86,833
		04		2011		9.6327		9.3125		107,374
		04		2010		8.4133		9.6327		71,245
		05		2019		18.2765		23.7645		0
		05		2018		19.4706		18.2765		0
		05		2017		15.9796		19.4706		0
		05		2016		14.7033		15.9796		0
		05		2015		15.0874		14.7033		0
		05		2014		13.8825		15.0874		0
		05		2013		10.5652		13.8825		0
		05		2012		9.2897		10.5652		0
		05		2011		9.6139		9.2897		0
		05		2010		8.4013		9.6139		0
		06		2019		17.9486		23.3035		0
		06		2018		19.1500		17.9486		0
		06		2017		15.7401		19.1500		0
		06		2016		14.5052		15.7401		0
		06		2015		14.9070		14.5052		0
		06		2014		13.7376		14.9070		0
		06		2013		10.4710		13.7376		0
		06		2012		9.2211		10.4710		0
		06		2011		9.5576		9.2211		0
		06		2010		8.3648		9.5576		0
		07		2019		17.8406		23.1515		0
		07		2018		19.0444		17.8406		0
		07		2017		15.6611		19.0444		0
		07		2016		14.4398		15.6611		0
		07		2015		14.8474		14.4398		0
		07		2014		13.6896		14.8474		0
		07		2013		10.4398		13.6896		0
		07		2012		9.1983		10.4398		0
		07		2011		9.5389		9.1983		1,246
		07		2010		8.3527		9.5389		0
		08		2019		17.4133		22.5512		0
		08		2018		18.6263		17.4133		0
		08		2017		15.3484		18.6263		0
		08		2016		14.1805		15.3484		0
		08		2015		14.6107		14.1805		0
		08		2014		13.4991		14.6107		0
		08		2013		10.3156		13.4991		0
		08		2012		9.1077		10.3156		0
		08		2011		9.4642		9.1077		0
		08		2010		8.3043		9.4642		0

330

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
MFS Emerging Markets Equity Portfolio, Service Class		01		2019		13.9818		16.5186		44,048
		01		2018		16.5654		13.9818		58,828
		01		2017		12.2401		16.5654		65,048
		01		2016		11.4190		12.2401		85,876
		01		2015		13.3655		11.4190		101,608
		01		2014		14.6179		13.3655		96,684
		01		2013		15.7199		14.6179		96,876
		01		2012		13.4846		15.7199		129,408
		01		2011		16.8777		13.4846		152,080
		01		2010		13.9058		16.8777		173,282
		02		2019		13.6123		16.0498		29,526
		02		2018		16.1601		13.6123		28,899
		02		2017		11.9646		16.1601		29,801
		02		2016		11.1847		11.9646		39,294
		02		2015		13.1180		11.1847		58,285
		02		2014		14.3765		13.1180		65,678
		02		2013		15.4918		14.3765		75,453
		02		2012		13.3163		15.4918		110,663
		02		2011		16.7009		13.3163		124,428
		02		2010		13.7882		16.7009		145,390
		03		2019		13.5211		15.9343		725
		03		2018		16.0600		13.5211		725
		03		2017		11.8965		16.0600		725
		03		2016		11.1267		11.8965		725
		03		2015		13.0566		11.1267		725
		03		2014		14.3166		13.0566		977
		03		2013		15.4351		14.3166		955
		03		2012		13.2743		15.4351		283
		03		2011		16.6568		13.2743		445
		03		2010		13.7588		16.6568		98
		04		2019		13.2513		15.5927		35,820
		04		2018		15.7634		13.2513		37,506
		04		2017		11.6943		15.7634		24,263
		04		2016		10.9544		11.6943		39,137
		04		2015		12.8742		10.9544		41,886
		04		2014		14.1383		12.8742		55,710
		04		2013		15.2663		14.1383		55,851
		04		2012		13.1494		15.2663		69,038
		04		2011		16.5253		13.1494		77,089
		04		2010		13.6711		16.5253		69,937
		05		2019		13.1626		15.4803		0
		05		2018		15.6661		13.1626		0
		05		2017		11.6282		15.6661		0
		05		2016		10.8980		11.6282		0
		05		2015		12.8144		10.8980		0
		05		2014		14.0797		12.8144		0
		05		2013		15.2108		14.0797		0
		05		2012		13.1083		15.2108		0
		05		2011		16.4820		13.1083		0
		05		2010		13.6421		16.4820		0

331

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		12.8998		15.1486		0
		06		2018		15.3764		12.8998		0
		06		2017		11.4302		15.3764		0
		06		2016		10.7289		11.4302		0
		06		2015		12.6350		10.7289		0
		06		2014		13.9040		12.6350		0
		06		2013		15.0440		13.9040		0
		06		2012		12.9846		15.0440		0
		06		2011		16.3516		12.9846		1,744
		06		2010		13.5550		16.3516		1,745
		07		2019		12.8133		15.0396		0
		07		2018		15.2811		12.8133		0
		07		2017		11.3651		15.2811		0
		07		2016		10.6732		11.3651		0
		07		2015		12.5759		10.6732		0
		07		2014		13.8460		12.5759		0
		07		2013		14.9890		13.8460		874
		07		2012		12.9437		14.9890		818
		07		2011		16.3085		12.9437		872
		07		2010		13.5261		16.3085		614
		08		2019		12.4719		14.6091		0
		08		2018		14.9044		12.4719		0
		08		2017		11.1075		14.9044		4
		08		2016		10.4527		11.1075		5
		08		2015		12.3414		10.4527		5
		08		2014		13.6157		12.3414		5
		08		2013		14.7700		13.6157		5
		08		2012		12.7809		14.7700		0
		08		2011		16.1364		12.7809		0
		08		2010		13.4108		16.1364		0
MFS Global Growth Portfolio, Service Class		01		2019		29.3095		39.0872		0
		01		2018		31.4078		29.3095		0
		01		2017		24.2449		31.4078		0
		01		2016		23.3010		24.2449		0
		01		2015		24.1444		23.3010		0
		01		2014		23.6049		24.1444		0
		01		2013		19.8554		23.6049		0
		01		2012		16.9050		19.8554		1,178
		01		2011		18.4251		16.9050		1,654
		01		2010		16.8050		18.4251		4,846
		02		2019		28.3596		37.7447		0
		02		2018		30.4513		28.3596		0
		02		2017		23.5537		30.4513		0
		02		2016		22.6829		23.5537		0
		02		2015		23.5518		22.6829		207
		02		2014		23.0725		23.5518		206
		02		2013		19.4471		23.0725		207
		02		2012		16.5913		19.4471		2,022
		02		2011		18.1200		16.5913		3,349
		02		2010		16.5604		18.1200		3,696

332

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		28.1262		37.4152		0
		03		2018		30.2159		28.1262		0
		03		2017		23.3834		30.2159		0
		03		2016		22.5303		23.3834		0
		03		2015		23.4054		22.5303		0
		03		2014		22.9408		23.4054		0
		03		2013		19.3460		22.9408		0
		03		2012		16.5135		19.3460		0
		03		2011		18.0442		16.5135		0
		03		2010		16.4995		18.0442		0
		04		2019		27.4372		36.4438		3,137
		04		2018		29.5205		27.4372		3,587
		04		2017		22.8797		29.5205		3,778
		04		2016		22.0789		22.8797		4,854
		04		2015		22.9716		22.0789		7,320
		04		2014		22.5501		22.9716		7,580
		04		2013		19.0457		22.5501		8,048
		04		2012		16.2823		19.0457		9,666
		04		2011		17.8188		16.2823		11,434
		04		2010		16.3184		17.8188		14,501
		05		2019		27.2119		36.1256		0
		05		2018		29.2934		27.2119		0
		05		2017		22.7155		29.2934		0
		05		2016		21.9315		22.7155		0
		05		2015		22.8299		21.9315		0
		05		2014		22.4223		22.8299		0
		05		2013		18.9474		22.4223		0
		05		2012		16.2065		18.9474		0
		05		2011		17.7449		16.2065		0
		05		2010		16.2589		17.7449		0
		06		2019		26.5448		35.1875		0
		06		2018		28.6182		26.5448		0
		06		2017		22.2250		28.6182		0
		06		2016		21.4910		22.2250		0
		06		2015		22.4058		21.4910		0
		06		2014		22.0397		22.4058		0
		06		2013		18.6527		22.0397		0
		06		2012		15.9790		18.6527		0
		06		2011		17.5227		15.9790		0
		06		2010		16.0800		17.5227		0
		07		2019		25.1119		33.2713		0
		07		2018		27.0871		25.1119		0
		07		2017		21.0466		27.0871		0
		07		2016		20.3619		21.0466		0
		07		2015		21.2394		20.3619		0
		07		2014		20.9030		21.2394		0
		07		2013		17.6997		20.9030		0
		07		2012		15.1705		17.6997		0
		07		2011		16.6445		15.1705		0
		07		2010		15.2819		16.6445		0

333

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		24.3194		32.1559		0
		08		2018		26.2859		24.3194		0
		08		2017		20.4656		26.2859		8
		08		2016		19.8404		20.4656		10
		08		2015		20.7380		19.8404		12
		08		2014		20.4515		20.7380		12
		08		2013		17.3529		20.4515		14
		08		2012		14.9039		17.3529		0
		08		2011		16.3856		14.9039		0
		08		2010		15.0750		16.3856		0
MFS Global Research Portfolio, Service Class		01		2019		21.6904		28.0647		617
		01		2018		24.2656		21.6904		1,172
		01		2017		19.7192		24.2656		2,718
		01		2016		19.0667		19.7192		4,406
		01		2015		19.6100		19.0667		4,052
		01		2014		19.5292		19.6100		4,216
		01		2013		16.0629		19.5292		5,464
		01		2012		14.0186		16.0629		11,181
		01		2011		15.3344		14.0186		12,310
		01		2010		13.8760		15.3344		14,195
		02		2019		20.9874		27.1007		2,172
		02		2018		23.5265		20.9874		1,631
		02		2017		19.1569		23.5265		1,631
		02		2016		18.5608		19.1569		1,862
		02		2015		19.1286		18.5608		1,876
		02		2014		19.0886		19.1286		6,747
		02		2013		15.7326		19.0886		9,069
		02		2012		13.7584		15.7326		9,349
		02		2011		15.0804		13.7584		10,215
		02		2010		13.6740		15.0804		9,987
		03		2019		28.8146		26.8641		611
		03		2018		23.3447		20.8146		0
		03		2017		19.0184		23.3447		0
		03		2016		18.4360		19.0184		0
		03		2015		19.0097		18.4360		0
		03		2014		18.9797		19.0097		0
		03		2013		15.6508		18.9797		0
		03		2012		13.6939		15.6508		0
		03		2011		15.0173		13.6939		0
		03		2010		13.6237		15.0173		0
		04		2019		20.3047		26.1665		2,116
		04		2018		22.8074		20.3047		988
		04		2017		18.6087		22.8074		988
		04		2016		18.0665		18.6087		988
		04		2015		18.6573		18.0665		1,833
		04		2014		18.6565		18.6573		988
		04		2013		15.4079		18.6565		988
		04		2012		13.5022		15.4079		4,674
		04		2011		14.8298		13.5022		4,770
		04		2010		13.4741		14.8298		4,857

334

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		20.1379		25.9380		0
		05		2018		22.6319		20.1379		0
		05		2017		18.4751		22.6319		0
		05		2016		17.9459		18.4751		0
		05		2015		18.5422		17.9459		0
		05		2014		18.5507		18.5422		0
		05		2013		15.3283		18.5507		0
		05		2012		13.4393		15.3283		0
		05		2011		14.7682		13.4393		0
		05		2010		13.4250		14.7682		0
		06		2019		19.6442		25.2644		0
		06		2018		22.1101		19.6442		0
		06		2017		18.0762		22.1101		0
		06		2016		17.5854		18.0762		0
		06		2015		18.1977		17.5854		0
		06		2014		18.2341		18.1977		0
		06		2013		15.0898		18.2341		0
		06		2012		13.2506		15.0898		0
		06		2011		14.5832		13.2506		0
		06		2010		13.2772		14.5832		0
		07		2019		19.0716		24.5215		0
		07		2018		21.4817		19.0716		0
		07		2017		17.5713		21.4817		0
		07		2016		17.1029		17.5713		0
		07		2015		17.7074		17.1029		0
		07		2014		17.7519		17.7074		0
		07		2013		14.6983		17.7519		0
		07		2012		12.9135		14.6983		0
		07		2011		14.2194		12.9135		0
		07		2010		12.9526		14.2194		0
		08		2019		18.4740		23.6994		0
		08		2018		20.8462		18.4740		0
		08		2017		17.0861		20.8462		0
		08		2016		16.6649		17.0861		0
		08		2015		17.2893		16.6649		0
		08		2014		17.3684		17.2893		0
		08		2013		14.4102		17.3684		0
		08		2012		12.6865		14.4102		0
		08		2011		13.9981		12.6865		0
		08		2010		12.7772		13.9981		0
MFS Global Tactical Allocation Portfolio, Service Class		01		2019		12.2808		13.7991		787,957
		01		2018		13.1241		12.2808		931,617
		01		2017		12.0721		13.1241		1,193,485
		01		2016		11.5877		12.0721		1,521,469
		01		2015		12.0891		11.5877		1,651,031
		01		2014		11.7971		12.0891		1,763,970
		01		2013		11.0566		11.7971		1,918,988
		01		2012		10.2950		11.0566		2,135,505
		01		2011		10.3392		10.2950		2,536,205
		01		2010		9.9878		10.3392		2,426,745

335

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		12.0576		13.5212		5,787
		02		2018		12.9116		12.0576		5,972
		02		2017		11.9004		12.9116		7,971
		02		2016		11.4462		11.9004		22,015
		02		2015		11.9659		11.4462		25,109
		02		2014		11.7007		11.9659		25,245
		02		2013		10.9885		11.7007		77,462
		02		2012		10.2526		10.9885		14,346
		02		2011		10.3176		10.2526		11,214
		02		2010		9.9873		10.3176		4,367
		03		2019		12.0022		13.4524		0
		03		2018		12.8588		12.0022		0
		03		2017		11.8577		12.8588		0
		03		2016		11.4110		11.8577		0
		03		2015		11.9352		11.4110		0
		03		2014		11.6766		11.9352		2,207
		03		2013		10.9716		11.6766		2,251
		03		2012		10.2420		10.9716		2,403
		03		2011		10.3122		10.2420		0
		03		2010		9.9871		10.3122		0
		04		2019		11.8377		13.2480		252,735
		04		2018		12.7018		11.8377		276,727
		04		2017		11.7306		12.7018		372,518
		04		2016		11.3060		11.7306		458,310
		04		2015		11.8435		11.3060		482,191
		04		2014		11.6047		11.8435		571,763
		04		2013		10.9207		11.6047		625,119
		04		2012		10.2103		10.9207		647,903
		04		2011		10.2960		10.2103		629,778
		04		2010		9.9867		10.2960		621,865
		05		2019		11.7833		13.1802		0
		05		2018		12.6500		11.7833		0
		05		2017		11.6889		12.6500		0
		05		2016		11.2715		11.6889		0
		05		2015		11.8134		11.2715		0
		05		2014		11.5810		11.8134		0
		05		2013		10.9039		11.5810		0
		05		2012		10.1998		10.9039		0
		05		2011		10.2906		10.1998		0
		05		2010		9.9866		10.2906		0
		06		2019		11.6218		12.9802		0
		06		2018		12.4954		11.6218		0
		06		2017		11.5633		12.4954		0
		06		2016		11.1675		11.5633		0
		06		2015		11.7224		11.1675		0
		06		2014		11.5095		11.7224		0
		06		2013		10.8533		11.5095		0
		06		2012		10.1681		10.8533		0
		06		2011		10.2744		10.1681		0
		06		2010		9.9862		10.2744		0

336

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		11.5684		12.9141		0
		07		2018		12.4443		11.5684		0
		07		2017		11.5218		12.4443		0
		07		2016		11.1332		11.5218		0
		07		2015		11.6923		11.1332		0
		07		2014		11.4858		11.6923		0
		07		2013		10.8365		11.4858		8,393
		07		2012		10.1576		10.8365		8,906
		07		2011		10.2690		10.1576		0
		07		2010		9.9860		10.2690		0
		08		2019		11.3564		12.6517		0
		08		2018		12.2413		11.3564		0
		08		2017		11.3569		12.2413		17
		08		2016		10.9963		11.3569		19
		08		2015		11.5723		10.9963		21
		08		2014		11.3913		11.5723		23
		08		2013		10.7694		11.3913		25
		08		2012		10.1155		10.7694		0
		08		2011		10.2474		10.1155		0
		08		2010		9.9855		10.2474		0
MFS Government Securities Portfolio, Service Class		01		2019		12.5316		13.1013		780,860
		01		2018		12.7273		12.5316		851,939
		01		2017		12.6893		12.7273		1,038,705
		01		2016		12.8220		12.6893		1,289,166
		01		2015		13.0105		12.8220		1,465,299
		01		2014		12.6451		13.0105		1,684,369
		01		2013		13.2474		12.6451		1,971,255
		01		2012		13.1786		13.2474		2,205,443
		01		2011		12.5158		13.1786		2,309,521
		01		2010		12.1847		12.5158		3,350,963
		02		2019		12.1254		12.6512		466,985
		02		2018		12.3396		12.1254		530,604
		02		2017		12.3275		12.3396		631,418
		02		2016		12.4818		12.3275		691,462
		02		2015		12.6911		12.4818		769,453
		02		2014		12.3598		12.6911		983,953
		02		2013		12.9750		12.3598		1,257,754
		02		2012		12.9340		12.9750		1,320,566
		02		2011		12.3086		12.9340		1,378,134
		02		2010		12.0073		12.3086		1,642,487
		03		2019		12.0256		12.5408		42,655
		03		2018		12.2442		12.0256		45,664
		03		2017		12.2383		12.2442		51,647
		03		2016		12.3979		12.2383		56,413
		03		2015		12.6122		12.3979		64,508
		03		2014		12.2893		12.6122		72,029
		03		2013		12.9075		12.2893		69,455
		03		2012		12.8734		12.9075		53,172
		03		2011		12.2571		12.8734		60,351
		03		2010		11.9632		12.2571		71,393

337

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		11.7310		12.2152		171,742
		04		2018		11.9625		11.7310		190,639
		04		2017		11.9748		11.9625		238,423
		04		2016		12.1495		11.9748		261,238
		04		2015		12.3785		12.1495		324,552
		04		2014		12.0801		12.3785		429,331
		04		2013		12.7072		12.0801		532,804
		04		2012		12.6932		12.7072		592,750
		04		2011		12.1040		12.6932		654,501
		04		2010		11.8319		12.1040		790,789
		05		2019		11.6347		12.1086		843
		05		2018		11.8705		11.6347		831
		05		2017		11.8888		11.8705		1,736
		05		2016		12.0684		11.8888		3,924
		05		2015		12.3021		12.0684		3,836
		05		2014		12.0116		12.3021		3,897
		05		2013		12.6416		12.0116		1,554
		05		2012		12.6341		12.6416		946
		05		2011		12.0538		12.6341		875
		05		2010		11.7888		12.0538		8,208
		06		2019		11.3494		11.7941		6,528
		06		2018		11.5968		11.3494		9,903
		06		2017		11.6321		11.5968		11,799
		06		2016		11.8260		11.6321		15,968
		06		2015		12.0736		11.8260		15,548
		06		2014		11.8066		12.0736		19,038
		06		2013		12.4450		11.8066		33,675
		06		2012		12.4568		12.4450		35,493
		06		2011		11.9028		12.4568		37,367
		06		2010		11.6591		11.9028		64,437
		07		2019		10.9127		11.3345		347
		07		2018		11.1562		10.9127		1,697
		07		2017		11.1958		11.1562		2,001
		07		2016		11.3883		11.1958		3,845
		07		2015		11.6326		11.3883		4,240
		07		2014		11.3812		11.6326		5,527
		07		2013		12.0027		11.3812		30,090
		07		2012		12.0203		12.0027		53,132
		07		2011		11.4915		12.0203		63,902
		07		2010		11.2619		11.4915		101,913
		08		2019		10.5683		10.9546		0
		08		2018		10.8262		10.5683		0
		08		2017		10.8868		10.8262		0
		08		2016		11.0967		10.8868		0
		08		2015		11.3580		11.0967		0
		08		2014		11.1353		11.3580		3,302
		08		2013		11.7675		11.1353		6,542
		08		2012		11.8091		11.7675		6,459
		08		2011		11.3128		11.8091		6,754
		08		2010		11.1095		11.3128		9,234

338

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
MFS High Yield Portfolio, Service Class		01		2019		21.4140		24.0899		78,727
		01		2018		22.5149		21.4140		100,693
		01		2017		21.5431		22.5149		121,254
		01		2016		19.2842		21.5431		155,080
		01		2015		20.5253		19.2842		221,339
		01		2014		20.3643		20.5253		270,555
		01		2013		19.5257		20.3643		335,520
		01		2012		17.3441		19.5257		385,192
		01		2011		16.9872		17.3441		259,462
		01		2010		14.9777		16.9872		322,383
		02		2019		20.7200		23.2625		73,110
		02		2018		21.8292		20.7200		81,163
		02		2017		20.9289		21.8292		97,707
		02		2016		18.7726		20.9289		128,150
		02		2015		20.0215		18.7726		160,031
		02		2014		19.9049		20.0215		186,968
		02		2013		19.1242		19.9049		217,823
		02		2012		17.0223		19.1242		245,439
		02		2011		16.7059		17.0223		220,072
		02		2010		14.7597		16.7059		300,946
		03		2019		24.5495		23.0595		12,478
		03		2018		21.6605		20.5495		13,637
		03		2017		20.7776		21.6605		14,032
		03		2016		18.6464		20.7776		15,513
		03		2015		19.8971		18.6464		21,568
		03		2014		19.7914		19.8971		20,249
		03		2013		19.0248		19.7914		29,266
		03		2012		16.9425		19.0248		32,736
		03		2011		16.6360		16.9425		14,888
		03		2010		14.7055		16.6360		13,948
		04		2019		20.0463		22.4609		39,105
		04		2018		21.1621		20.0463		42,190
		04		2017		20.3302		21.1621		46,216
		04		2016		18.2729		20.3302		57,772
		04		2015		19.5285		18.2729		74,685
		04		2014		19.4545		19.5285		99,192
		04		2013		18.7297		19.4545		133,765
		04		2012		16.7054		18.7297		146,105
		04		2011		16.4283		16.7054		111,086
		04		2010		14.5442		16.4283		141,119
		05		2019		19.8815		22.2647		980
		05		2018		20.9992		19.8815		1,028
		05		2017		20.1842		20.9992		1,084
		05		2016		18.1508		20.1842		1,096
		05		2015		19.4079		18.1508		3,145
		05		2014		19.3442		19.4079		1,092
		05		2013		18.6329		19.3442		1,087
		05		2012		16.6275		18.6329		1,073
		05		2011		16.3601		16.6275		159
		05		2010		14.4911		16.3601		2,128

339

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		19.3943		21.6867		869
		06		2018		20.5153		19.3943		904
		06		2017		19.7486		20.5153		1,258
		06		2016		17.7864		19.7486		1,712
		06		2015		19.0475		17.7864		2,006
		06		2014		19.0141		19.0475		2,504
		06		2013		18.3432		19.0141		5,540
		06		2012		16.3943		18.3432		6,413
		06		2011		16.1553		16.3943		9,146
		06		2010		14.3317		16.1553		12,745
		07		2019		16.7134		18.6796		91
		07		2018		17.6885		16.7134		459
		07		2017		17.0360		17.6885		536
		07		2016		15.3512		17.0360		1,110
		07		2015		16.4480		15.3512		1,374
		07		2014		16.4276		16.4480		1,696
		07		2013		15.8560		16.4276		6,129
		07		2012		14.1786		15.8560		8,782
		07		2011		13.9791		14.1786		11,076
		07		2010		12.4075		13.9791		20,114
		08		2019		16.1860		18.0534		0
		08		2018		17.1653		16.1860		0
		08		2017		16.5657		17.1653		0
		08		2016		14.9581		16.5657		0
		08		2015		16.0597		14.9581		0
		08		2014		16.0727		16.0597		785
		08		2013		15.5454		16.0727		881
		08		2012		13.9295		15.5454		960
		08		2011		13.7616		13.9295		1,217
		08		2010		12.2395		13.7616		1,567
MFS International Growth Portfolio, Service Class		01		2019		13.0362		16.2897		46,589
		01		2018		14.6227		13.0362		58,986
		01		2017		11.2387		14.6227		65,865
		01		2016		11.1921		11.2387		92,007
		01		2015		11.3737		11.1921		96,488
		01		2014		12.2036		11.3737		120,044
		01		2013		10.9210		12.2036		126,266
		01		2012		9.2946		10.9210		126,413
		01		2011		10.6372		9.2946		157,367
		01		2010		9.4205		10.6372		159,754
		02		2019		12.7265		15.8708		21,642
		02		2018		14.3040		12.7265		25,351
		02		2017		11.0159		14.3040		17,784
		02		2016		10.9925		11.0159		26,583
		02		2015		11.1938		10.9925		26,961
		02		2014		12.0350		11.1938		35,826
		02		2013		10.7920		12.0350		37,313
		02		2012		9.2036		10.7920		49,142
		02		2011		10.5545		9.2036		67,086
		02		2010		9.3664		10.5545		59,698

340

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		12.6499		15.7674		0
		03		2018		14.2252		12.6499		0
		03		2017		10.9607		14.2252		0
		03		2016		10.9430		10.9607		0
		03		2015		11.1490		10.9430		1,733
		03		2014		11.9931		11.1490		1,748
		03		2013		10.7599		11.9931		1,595
		03		2012		9.1809		10.7599		1,619
		03		2011		10.5339		9.1809		1,763
		03		2010		9.3528		10.5339		1,599
		04		2019		12.4231		15.4613		12,827
		04		2018		13.9913		12.4231		14,204
		04		2017		10.7967		13.9913		27,929
		04		2016		10.7959		10.7967		23,766
		04		2015		11.0160		10.7959		22,092
		04		2014		11.8681		11.0160		25,645
		04		2013		10.6642		11.8681		36,988
		04		2012		9.1133		10.6642		29,883
		04		2011		10.4723		9.1133		31,859
		04		2010		9.3123		10.4723		30,954
		05		2019		12.3484		15.3603		0
		05		2018		13.9145		12.3484		0
		05		2017		10.7430		13.9145		0
		05		2016		10.7476		10.7430		0
		05		2015		10.9723		10.7476		0
		05		2014		11.8271		10.9723		0
		05		2013		10.6327		11.8271		0
		05		2012		9.0910		10.6327		0
		05		2011		10.4520		9.0910		0
		05		2010		9.2990		10.4520		0
		06		2019		12.1268		15.0623		0
		06		2018		13.6853		12.1268		0
		06		2017		10.5819		13.6853		0
		06		2016		10.6027		10.5819		0
		06		2015		10.8410		10.6027		0
		06		2014		11.7035		10.8410		0
		06		2013		10.5378		11.7035		0
		06		2012		9.0238		10.5378		0
		06		2011		10.3906		9.0238		954
		06		2010		9.2586		10.3906		970
		07		2019		12.0539		14.9641		0
		07		2018		13.6099		12.0539		0
		07		2017		10.5289		13.6099		0
		07		2016		10.5550		10.5289		0
		07		2015		10.7978		10.5550		0
		07		2014		11.6628		10.7978		0
		07		2013		10.5065		11.6628		0
		07		2012		9.0016		10.5065		0
		07		2011		10.3704		9.0016		0
		07		2010		9.2453		10.3704		0

341

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		11.7651		14.5760		0
		08		2018		13.3111		11.7651		0
		08		2017		10.3187		13.3111		0
		08		2016		10.3655		10.3187		0
		08		2015		10.6257		10.3655		0
		08		2014		11.5005		10.6257		0
		08		2013		10.3815		11.5005		0
		08		2012		8.9129		10.3815		0
		08		2011		10.2892		8.9129		0
		08		2010		9.1918		10.2892		0
MFS International Intrinsic Value Portfolio, Service Class		01		2019		15.5970		19.2659		240,808
		01		2018		17.5769		15.5970		351,570
		01		2017		14.0982		17.5769		402,667
		01		2016		13.8114		14.0982		587,685
		01		2015		13.2150		13.8114		712,748
		01		2014		13.2929		13.2150		868,665
		01		2013		10.5948		13.2929		1,137,918
		01		2012		9.2977		10.5948		1,341,649
		01		2011		9.6293		9.2977		1,597,233
		01		2010		9.0051		9.6293		1,900,158
		02		2019		15.2265		18.7705		271,534
		02		2018		17.1939		15.2265		345,714
		02		2017		13.8187		17.1939		379,508
		02		2016		13.5652		13.8187		491,271
		02		2015		13.0059		13.5652		568,188
		02		2014		13.1093		13.0059		717,735
		02		2013		10.4697		13.1093		868,914
		02		2012		9.2067		10.4697		1,021,316
		02		2011		9.5545		9.2067		1,197,052
		02		2010		8.9533		9.5545		1,431,805
		03		2019		15.1349		18.6482		9,441
		03		2018		17.0991		15.1349		11,770
		03		2017		13.7495		17.0991		13,186
		03		2016		13.5041		13.7495		13,752
		03		2015		12.9539		13.5041		15,389
		03		2014		13.0636		12.9539		16,696
		03		2013		10.4386		13.0636		13,183
		03		2012		9.1840		10.4386		14,408
		03		2011		9.5358		9.1840		16,995
		03		2010		8.9404		9.5358		18,901
		04		2019		14.8634		18.2862		64,901
		04		2018		16.8180		14.8634		71,019
		04		2017		13.5438		16.8180		75,080
		04		2016		13.3226		13.5438		104,121
		04		2015		12.7993		13.3226		123,097
		04		2014		12.9275		12.7993		141,857
		04		2013		10.3457		12.9275		167,148
		04		2012		9.1163		10.3457		192,594
		04		2011		9.4800		9.1163		240,299
		04		2010		8.9017		9.4800		269,604

342

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		14.7741		18.1668		0
		05		2018		16.7257		14.7741		0
		05		2017		13.4764		16.7257		0
		05		2016		13.2630		13.4764		0
		05		2015		12.7486		13.2630		1,448
		05		2014		12.8827		12.7486		0
		05		2013		10.3151		12.8827		0
		05		2012		9.0940		10.3151		0
		05		2011		9.4616		9.0940		0
		05		2010		8.8889		9.4616		2,253
		06		2019		14.5091		17.8143		0
		06		2018		16.4503		14.5091		0
		06		2017		13.2744		16.4503		0
		06		2016		13.0842		13.2744		0
		06		2015		12.5961		13.0842		0
		06		2014		12.7482		12.5961		0
		06		2013		10.2231		12.7482		0
		06		2012		9.0268		10.2231		0
		06		2011		9.4061		9.0268		0
		06		2010		8.8503		9.4061		0
		07		2019		14.4217		17.6982		0
		07		2018		16.3595		14.4217		0
		07		2017		13.2078		16.3595		0
		07		2016		13.0253		13.2078		0
		07		2015		12.5457		13.0253		0
		07		2014		12.7038		12.5457		0
		07		2013		10.1926		12.7038		489
		07		2012		9.0046		10.1926		568
		07		2011		9.3877		9.0046		618
		07		2010		8.8375		9.3877		2,516
		08		2019		14.0763		17.2393		0
		08		2018		16.0004		14.0763		0
		08		2017		12.9441		16.0004		0
		08		2016		12.7914		12.9441		0
		08		2015		12.3458		12.7914		0
		08		2014		12.5270		12.3458		0
		08		2013		10.0714		12.5270		0
		08		2012		8.9159		10.0714		0
		08		2011		9.3143		8.9159		0
		08		2010		8.7864		9.3143		0
MFS Massachusetts Investors Growth Stock Portfolio, Service Class		01		2019		27.0675		37.1416		12,407
		01		2018		27.3793		27.0675		14,432
		01		2017		21.7409		27.3793		16,039
		01		2016		20.8962		21.7409		19,917
		01		2015		21.3289		20.8962		15,112
		01		2014		19.5073		21.3289		17,268
		01		2013		15.2495		19.5073		22,009
		01		2012		13.2768		15.2495		23,148
		01		2011		13.4294		13.2768		36,349
		01		2010		12.1084		13.4294		54,300

343

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		26.1901		35.8657		10,814
		02		2018		26.5453		26.1901		13,964
		02		2017		21.1210		26.5453		20,876
		02		2016		20.3417		21.1210		22,084
		02		2015		20.8053		20.3417		29,926
		02		2014		19.0672		20.8053		77,225
		02		2013		14.9358		19.0672		78,484
		02		2012		13.0303		14.9358		86,094
		02		2011		13.2070		13.0303		95,034
		02		2010		11.9321		13.2070		195,990
		03		2019		25.9745		35.5526		2,715
		03		2018		26.3401		25.9745		3,109
		03		2017		20.9683		26.3401		3,489
		03		2016		20.2049		20.9683		4,341
		03		2015		20.6760		20.2049		4,850
		03		2014		18.9584		20.6760		5,323
		03		2013		14.8582		18.9584		6,225
		03		2012		12.9692		14.8582		1,149
		03		2011		13.1517		12.9692		1,292
		03		2010		11.8882		13.1517		3,435
		04		2019		25.3383		34.6296		17,972
		04		2018		25.7340		25.3383		20,200
		04		2017		20.5167		25.7340		25,594
		04		2016		19.8001		20.5167		28,282
		04		2015		20.2927		19.8001		32,484
		04		2014		18.6356		20.2927		37,648
		04		2013		14.6275		18.6356		37,812
		04		2012		12.7876		14.6275		46,380
		04		2011		12.9874		12.7876		57,708
		04		2010		11.7577		12.9874		83,035
		05		2019		25.1302		34.3272		12
		05		2018		25.5361		25.1302		16
		05		2017		20.3694		25.5361		19
		05		2016		19.6679		20.3694		24
		05		2015		20.1675		19.6679		27
		05		2014		18.5300		20.1675		29
		05		2013		14.5521		18.5300		34
		05		2012		12.7281		14.5521		0
		05		2011		12.9335		12.7281		0
		05		2010		11.7148		12.9335		0
		06		2019		24.5141		33.4358		1,149
		06		2018		24.9474		24.5141		2,719
		06		2017		19.9296		24.9474		2,970
		06		2016		19.2729		19.9296		3,285
		06		2015		19.7929		19.2729		3,493
		06		2014		18.2137		19.7929		4,950
		06		2013		14.3256		18.2137		9,470
		06		2012		12.5494		14.3256		10,351
		06		2011		12.7715		12.5494		11,065
		06		2010		11.5859		12.7715		11,997

344

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		24.1175		32.8783		0
		07		2018		24.5561		24.1175		0
		07		2017		19.6270		24.5561		0
		07		2016		18.9899		19.6270		33
		07		2015		19.5122		18.9899		41
		07		2014		17.9646		19.5122		49
		07		2013		14.1369		17.9646		1,281
		07		2012		12.3905		14.1369		8,348
		07		2011		12.6162		12.3905		9,309
		07		2010		11.4508		12.6162		18,039
		08		2019		23.3563		31.7760		0
		08		2018		23.8298		23.3563		0
		08		2017		19.0851		23.8298		0
		08		2016		18.5035		19.0851		0
		08		2015		19.0515		18.5035		0
		08		2014		17.5765		19.0515		0
		08		2013		13.8599		17.5765		0
		08		2012		12.1727		13.8599		45
		08		2011		12.4199		12.1727		51
		08		2010		11.2958		12.4199		56
MFS U.S. Government Money Market Portfolio, Service Class		01		2019		8.8530		8.8453		783,805
		01		2018		8.8945		8.8530		850,727
		01		2017		9.0218		8.8945		1,170,874
		01		2016		9.1771		9.0218		1,528,234
		01		2015		9.3357		9.1771		1,732,305
		01		2014		9.4972		9.3357		2,082,904
		01		2013		9.6614		9.4972		2,684,753
		01		2012		9.8294		9.6614		2,610,200
		01		2011		9.9989		9.8294		1,168,985
		01		2010		10.1718		9.9989		1,289,655
		02		2019		8.5660		8.5414		575,406
		02		2018		8.6235		8.5660		580,627
		02		2017		8.7645		8.6235		720,541
		02		2016		8.9336		8.7645		987,387
		02		2015		9.1065		8.9336		1,134,960
		02		2014		9.2829		9.1065		1,227,126
		02		2013		9.4627		9.2829		1,557,972
		02		2012		9.6470		9.4627		2,149,939
		02		2011		9.8333		9.6470		925,260
		02		2010		10.0237		9.8333		1,204,722

345

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		8.4955		8.4668		54,047
		03		2018		8.5569		8.4955		61,437
		03		2017		8.7012		8.5569		108,678
		03		2016		8.8735		8.7012		112,064
		03		2015		9.0499		8.8735		135,290
		03		2014		9.2299		9.0499		131,898
		03		2013		9.4135		9.2299		139,047
		03		2012		9.6017		9.4135		119,894
		03		2011		9.7922		9.6017		116,323
		03		2010		9.9869		9.7922		92,451
		04		2019		8.2874		8.2470		170,324
		04		2018		8.3599		8.2874		187,171
		04		2017		8.5138		8.3599		208,037
		04		2016		8.6957		8.5138		274,627
		04		2015		8.8822		8.6957		342,218
		04		2014		9.0728		8.8822		659,207
		04		2013		9.2674		9.0728		717,854
		04		2012		9.4673		9.2674		906,644
		04		2011		9.6698		9.4673		647,032
		04		2010		9.8773		9.6698		774,792
		05		2019		8.2193		8.1750		590
		05		2018		8.2956		8.2193		539
		05		2017		8.4526		8.2956		572
		05		2016		8.6376		8.4526		530
		05		2015		8.8274		8.6376		490
		05		2014		9.0213		8.8274		501
		05		2013		9.2195		9.0213		490
		05		2012		9.4232		9.2195		305
		05		2011		9.6297		9.4232		277
		05		2010		9.8413		9.6297		3,585
		06		2019		8.0178		7.9627		5,049
		06		2018		8.1044		8.0178		5,444
		06		2017		8.2702		8.1044		7,207
		06		2016		8.4642		8.2702		8,046
		06		2015		8.6634		8.4642		14,590
		06		2014		8.8674		8.6634		40,829
		06		2013		9.0761		8.8674		58,383
		06		2012		9.2910		9.0761		77,049
		06		2011		9.5091		9.2910		126,112
		06		2010		9.7330		9.5091		87,241
		07		2019		8.0314		7.9722		354
		07		2018		8.1222		8.0314		1,696
		07		2017		8.2926		8.1222		2,049
		07		2016		8.4914		8.2926		3,643
		07		2015		8,6958		8.4914		4,119
		07		2014		8.9050		8.6958		5,791
		07		2013		9.1194		8.9050		29,102
		07		2012		9.3400		9.1194		48,358
		07		2011		9.5642		9.3400		44,773
		07		2010		9.7944		9.5642		69,280

346

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		7.7780		7.7049		0
		08		2018		7.8820		7.7780		0
		08		2017		8.0637		7.8820		85
		08		2016		8.4914		8.0637		86
		08		2015		8.4905		8.4914		0
		08		2014		8.7127		8.4905		6,858
		08		2013		8.9407		8.7127		7,562
		08		2012		9.1760		8.9407		7,921
		08		2011		9.4154		9.1760		8,560
		08		2010		9.6618		9.4154		10,642
MFS Research International Portfolio, Service Class		01		2019		20.4555		25.6729		71,152
		01		2018		24.2884		20.4555		91,928
		01		2017		19.3166		24.2884		111,719
		01		2016		19.8318		19.3166		172,726
		01		2015		20.6279		19.8318		194,645
		01		2014		22.6027		20.6279		227,907
		01		2013		19.3590		22.6027		270,425
		01		2012		16.9371		19.3590		314,443
		01		2011		19.3722		16.9371		373,205
		01		2010		17.8605		19.3722		402,143
		02		2019		19.7925		24.7911		85,943
		02		2018		23.5486		19.7925		108,408
		02		2017		18.7658		23.5486		117,235
		02		2016		19.3056		18.7658		149,301
		02		2015		20.1215		19.3056		169,431
		02		2014		22.0929		20.1215		198,233
		02		2013		18.9609		22.0929		240,406
		02		2012		16.6228		18.9609		291,645
		02		2011		19.0514		16.6228		363,971
		02		2010		17.6005		19.0514		381,567
		03		2019		19.6295		24.5745		3,197
		03		2018		23.3665		19.6295		3,493
		03		2017		18.6301		23.3665		4,364
		03		2016		19.1757		18.6301		5,475
		03		2015		19.9964		19.1757		5,795
		03		2014		21.9667		19.9964		6,419
		03		2013		18.8622		21.9667		7,209
		03		2012		16.5448		18.8622		9,335
		03		2011		18.9717		16.5448		23,993
		03		2010		17.5359		18.9717		25,923
		04		2019		19.1487		23.9365		52,847
		04		2018		22.8287		19.1487		68,511
		04		2017		18.2288		22.8287		68,346
		04		2016		18.7915		18.2288		89,674
		04		2015		19.6258		18.7915		97,153
		04		2014		21.5927		19.6258		130,097
		04		2013		18.5695		21.5927		154,537
		04		2012		16.3131		18.5695		161,709
		04		2011		18.7348		16.3131		175,136
		04		2010		17.3434		18.7348		194,688

347

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		18.9914		23.7275		0
		05		2018		22.6531		18.9914		0
		05		2017		18.0979		22.6531		549
		05		2016		18.6660		18.0979		2,490
		05		2015		19.5047		18.6660		2,415
		05		2014		21.4703		19.5047		2,325
		05		2013		18.4736		21.4703		482
		05		2012		16.2372		18.4736		464
		05		2011		18.6570		16.2372		466
		05		2010		17.2801		18.6570		440
		06		2019		18.5257		23.1113		1,170
		06		2018		22.1309		18.5257		3,639
		06		2017		17.7072		22.1309		3,730
		06		2016		18.2911		17.7072		7,034
		06		2015		19.1423		18.2911		6,745
		06		2014		21.1039		19.1423		6,902
		06		2013		18.1862		21.1039		7,015
		06		2012		16.0093		18.1862		7,075
		06		2011		18.4234		16.0093		7,321
		06		2010		17.0900		18.4234		7,286
		07		2019		17.7969		22.1909		0
		07		2018		21.2710		17.7969		0
		07		2017		17.0278		21.2710		0
		07		2016		17.5983		17.0278		0
		07		2015		18.4266		17.5983		0
		07		2014		20.3252		18.4266		0
		07		2013		17.5242		20.3252		1,330
		07		2012		15.4344		17.5242		2,385
		07		2011		17.7709		15.4344		5,442
		07		2010		16.4931		17.7709		7,645
		08		2019		17.2352		21.4468		0
		08		2018		20.6418		17.2352		0
		08		2017		16.5576		20.6418		0
		08		2016		17.1475		16.5576		0
		08		2015		17.9916		17.1475		0
		08		2014		19.8861		17.9916		0
		08		2013		17.1808		19.8861		1,945
		08		2012		15.1632		17.1808		1,887
		08		2011		17.4945		15.1632		1,863
		08		2010		16.2699		17.4945		2,403
MFS Strategic Income Portfolio, Service Class		01		2019		17.1186		18.7286		167
		01		2018		17.7902		17.1186		206
		01		2017		17.0907		17.7902		246
		01		2016		16.0982		17.0907		288
		01		2015		16.7213		16.0982		331
		01		2014		16.5170		16.7213		65
		01		2013		16.6227		16.5170		69
		01		2012		15.3336		16.6227		72
		01		2011		14.9541		15.3336		77
		01		2010		13.8238		14.9541		81

348

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		16.5638		18.0853		4,065
		02		2018		17.2483		16.5638		4,065
		02		2017		16.6034		17.2483		4,065
		02		2016		15.6711		16.6034		4,065
		02		2015		16.3108		15.6711		4,065
		02		2014		16.1444		16.3108		4,064
		02		2013		16.2809		16.1444		4,637
		02		2012		15.0490		16.2809		5,855
		02		2011		14.7064		15.0490		8,883
		02		2010		13.6226		14.7064		9,124
		03		2019		16.4275		17.9275		0
		03		2018		17.1151		16.4275		0
		03		2017		16.4834		17.1151		0
		03		2016		15.5658		16.4834		0
		03		2015		16.2095		15.5658		0
		03		2014		16.0523		16.2095		0
		03		2013		16.1963		16.0523		0
		03		2012		14.9785		16.1963		0
		03		2011		14.6450		14.9785		0
		03		2010		13.5726		14.6450		0
		04		2019		16.0251		17.4621		4,743
		04		2018		16.7212		16.0251		4,853
		04		2017		16.1284		16.7212		5,510
		04		2016		15.2539		16.1284		8,088
		04		2015		15.9091		15.2539		8,805
		04		2014		15.7790		15.9091		2,338
		04		2013		15.9450		15.7790		10,403
		04		2012		14.7688		15.9450		11,170
		04		2011		14.4620		14.7688		6,865
		04		2010		13.4236		14.4620		2,704
		05		2019		15.8935		17.3096		0
		05		2018		16.5926		15.8935		0
		05		2017		16.0126		16.5926		0
		05		2016		15.1521		16.0126		0
		05		2015		15.8109		15.1521		0
		05		2014		15.6896		15.8109		0
		05		2013		15.8627		15.6896		0
		05		2012		14.7001		15.8627		0
		05		2011		14.4020		14.7001		0
		05		2010		13.3747		14.4020		0
		06		2019		15.5039		16.8602		0
		06		2018		16.2101		15.5039		0
		06		2017		15.6670		16.2101		0
		06		2016		14.8478		15.6670		0
		06		2015		15.5172		14.8478		0
		06		2014		15.4218		15.5172		0
		06		2013		15.6159		15.4218		0
		06		2012		14.4938		15.6159		0
		06		2011		14.2217		14.4938		0
		06		2010		13.2275		14.2217		0

349

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		13.9925		15.2089		0
		07		2018		14.6373		13.9925		0
		07		2017		14.1539		14.6373		0
		07		2016		13.4208		14.1539		0
		07		2015		14.0330		13.4208		0
		07		2014		13.9539		14.0330		0
		07		2013		14.1367		13.9539		0
		07		2012		13.1276		14.1367		0
		07		2011		12.8877		13.1276		0
		07		2010		11.9929		12.8877		0
		08		2019		13.5509		14.6990		0
		08		2018		14.2043		13.5509		0
		08		2017		13.7632		14.2043		0
		08		2016		13.0770		13.7632		0
		08		2015		13.7017		13.0770		0
		08		2014		13.6524		13.7017		0
		08		2013		13.8597		13.6524		0
		08		2012		12.8970		13.8597		0
		08		2011		12.6872		12.8970		0
		08		2010		11.8306		12.6872		0
MFS Total Return Series, Service Class		01		2019		12.1219		14.3136		1,626,576
		01		2018		13.1014		12.1219		2,096,614
		01		2017		11.8963		13.1014		2,462,288
		01		2016		11.1216		11.8963		2,854,120
		01		2015		11.3798		11.1216		3,491,588
		01		2014		10.6956		11.3798		4,339,978
		01		2013		10.0000		10.6956		5,178,160
		02		2019		11.9905		14.1301		469,013
		02		2018		12.9856		11.9905		565,875
		02		2017		11.8148		12.9856		641,675
		02		2016		11.0679		11.8148		867,207
		02		2015		11.3480		11.0679		1,157,359
		02		2014		10.6875		11.3480		1,532,328
		02		2013		10.0000		10.6875		1,988,469
		03		2019		11.9578		14.0845		166,505
		03		2018		12.9567		11.9578		227,600
		03		2017		11.7944		12.9567		316,932
		03		2016		11.0545		11.7944		342,827
		03		2015		11.3400		11.0545		438,255
		03		2014		10.6854		11.3400		540,806
		03		2013		10.0000		10.6854		608,271
		04		2019		11.8602		13.9484		411,981
		04		2018		12.8704		11.8602		451,399
		04		2017		11.7336		12.8704		503,454
		04		2016		11.0143		11.7336		628,722
		04		2015		11.3161		11.0143		758,030
		04		2014		10.6793		11.3161		1,094,877
		04		2013		10.0000		10.6793		1,527,795

350

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		11.8275		13.9028		0
		05		2018		12.8417		11.8275		1,902
		05		2017		11.7135		12.8417		4,067
		05		2016		11.0010		11.7135		4,818
		05		2015		11.3082		11.0010		13,442
		05		2014		10.6772		11.3082		21,486
		05		2013		10.0000		10.6772		36,441
		06		2019		11.7311		13.7690		21,235
		06		2018		12.7562		11.7311		23,333
		06		2017		11.6529		12.7562		23,570
		06		2016		10.9609		11.6529		34,442
		06		2015		11.2844		10.9609		34,708
		06		2014		10.6711		11.2844		56,778
		06		2013		10.0000		10.6711		111,791
		07		2019		11.6991		13.7245		31,066
		07		2018		12.7278		11.6991		33,260
		07		2017		11.6328		12.7278		45,221
		07		2016		10.9476		11.6328		50,012
		07		2015		11.2764		10.9476		62,607
		07		2014		10.6690		11.2764		74,817
		07		2013		10.0000		10.6690		109,217
		08		2019		11.5711		13.5468		0
		08		2018		12.6143		11.5711		0
		08		2017		11.5526		12.6143		41
		08		2016		10.8944		11.5526		46
		08		2015		11.2447		10.8944		52
		08		2014		10.6608		11.2447		59
		08		2013		10.0000		10.6608		2,859
MFS Growth Series, Service Class		01		2019		38.4246		52.0434		16,212
		01		2018		38.1709		38.4246		18,578
		01		2017		29.6201		38.1709		22,320
		01		2016		29.4898		29.6201		54,216
		01		2015		27.9583		29.4898		39.274
		01		2014		26.1691		27.9583		46,573
		01		2013		19.5036		26.1691		48,431
		01		2012		10.0000		19.5036		41,292
		02		2019		37.1793		50.2559		13,274
		02		2018		37.0083		37.1793		22,334
		02		2017		28.7756		37.0083		20,649
		02		2016		28.7074		28.7756		22,897
		02		2015		27.2721		28.7074		14,819
		02		2014		25.5789		27.2721		18,055
		02		2013		19.1025		25.5789		17,282
		02		2012		10.0000		19.1025		37,598
		03		2019		36.8732		49.8171		0
		03		2018		36.7222		36.8732		0
		03		2017		28.5675		36.7222		0
		03		2016		28.5144		28.5675		0
		03		2015		27.1025		28.5144		0
		03		2014		25.4328		27.1025		0
		03		2013		19.0032		25.4328		1,592
		03		2012		10.0000		19.0032		9,198

351

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		35.9701		48.5237		13,790
		04		2018		35.8771		35.9701		15,983
		04		2017		27.9522		35.8771		11,742
		04		2016		27.9431		27.9522		15,888
		04		2015		26.6003		27.9431		17,057
		04		2014		24.9998		26.6003		17,093
		04		2013		18.7082		24.9998		25,656
		04		2012		10.0000		18.7082		39,934
		05		2019		35.6746		48.1000		0
		05		2018		35.6011		35.6746		0
		05		2017		27.7516		35.6011		0
		05		2016		27.7565		27.7516		0
		05		2015		26.4361		27.7565		1,314
		05		2014		24.8581		26.4361		0
		05		2013		18.6117		24.8581		0
		05		2012		10.0000		18.6117		0
		06		2019		34.8001		46.8510		0
		06		2018		34.7805		34.8001		0
		06		2017		27.1524		34.7805		0
		06		2016		27.1991		27.1524		0
		06		2015		25.9450		27.1991		0
		06		2014		24.4338		25.9450		0
		06		2013		18.3221		24.4338		0
		06		2012		10.0000		18.3221		0
		07		2019		32.5325		43.7762		0
		07		2018		32.5307		32.5325		0
		07		2017		25.4088		32.5307		0
		07		2016		25.4655		25.4088		0
		07		2015		24.3037		25.4655		0
		07		2014		22.8998		24.3037		0
		07		2013		17.1806		22.8998		0
		07		2012		10.0000		17.1806		0
		08		2019		31.5058		42.3086		0
		08		2018		31.5685		31.5058		0
		08		2017		24.7074		31.5685		0
		08		2016		24.8133		24.7074		0
		08		2015		23.7299		24.8133		0
		08		2014		22.4051		23.7299		0
		08		2013		16.8439		22.4051		0
		08		2012		10.0000		16.8439		0
MFS Research Series, Service Class		01		2019		17.2702		22.5125		400,282
		01		2018		18.4219		17.2702		536,569
		01		2017		15.2262		18.4219		706,119
		01		2016		14.2774		15.2262		964,760
		01		2015		14.4476		14.2774		1,162,857
		01		2014		13.3691		14.4476		1,303,853
		01		2013		10.3031		13.3691		1,511,712
		01		2012		10.0000		10.3031		1,872,381

352

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		17.0573		22.1906		288,832
		02		2018		18.2316		17.0573		361,148
		02		2017		15.0991		18.2316		471,197
		02		2016		14.1871		15.0991		581,479
		02		2015		14.3855		14.1871		674,453
		02		2014		13.3388		14.3855		739,515
		02		2013		10.3007		13.3388		880,295
		02		2012		10.0000		10.3007		1,038,400
		03		2019		17.0043		22.1105		5,620
		03		2018		18.1841		17.0043		6,217
		03		2017		15.0674		18.1841		28,735
		03		2016		14.1646		15.0674		30,940
		03		2015		14.3700		14.1646		33,062
		03		2014		13.3312		14.3700		33,816
		03		2013		10.3001		13.3312		35,311
		03		2012		10.0000		10.3001		39,253
		04		2019		16.8464		21.8721		74,180
		04		2018		18.0426		16.8464		87,169
		04		2017		14.9727		18.0426		96,888
		04		2016		14.0971		14.9727		119,956
		04		2015		14.3235		14.0971		142,433
		04		2014		13.3085		14.3235		164,663
		04		2013		10.2983		13.3085		198,831
		04		2012		10.0000		10.2983		237,725
		05		2019		16.7937		21.7924		0
		05		2018		17.9956		16.7937		0
		05		2017		14.9415		17.9956		0
		05		2016		14.0748		14.9415		0
		05		2015		14.3081		14.0748		0
		05		2014		13.3010		14.3081		0
		05		2013		10.2977		13.3010		0
		05		2012		10.0000		10.2977		0
		06		2019		16.6380		21.5582		0
		06		2018		17.8555		16.6380		0
		06		2017		14.8473		17.8555		0
		06		2016		14.0076		14.8473		0
		06		2015		14.2617		14.0076		0
		06		2014		13.2782		14.2617		0
		06		2013		10.2959		13.2782		0
		06		2012		10.0000		10.2959		838
		07		2019		16.5862		21.4803		0
		07		2018		17.8090		16.5862		0
		07		2017		14.8161		17.8090		0
		07		2016		13.9854		14.8161		0
		07		2015		14.2463		13.9854		0
		07		2014		13.2706		14.2463		0
		07		2013		10.2953		13.2706		0
		07		2012		10.0000		10.2953		0

353

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		16.3800		21.1702		0
		08		2018		17.6235		16.3800		0
		08		2017		14.6916		17.6235		0
		08		2016		13.8963		14.6916		0
		08		2015		14.1846		13.8963		0
		08		2014		13.2403		14.1846		0
		08		2013		10.2929		13.2403		0
		08		2012		10.0000		10.2929		0
MFS Utilities Series, Service Class		01		2019		10.3227		12.6645		245,824
		01		2018		10.4173		10.3227		290,664
		01		2017		9.2552		10.4173		406,217
		01		2016		8.4642		9.2552		542,844
		01		2015		10.1013		8.4642		690,818
		01		2014		10.0000		10.1013		771,253
		02		2019		10.2312		12.5271		118,446
		02		2018		10.3458		10.2312		133,600
		02		2017		9.2101		10.3458		181,644
		02		2016		8.4401		9.2101		266,591
		02		2015		10.0932		8.4401		308,241
		02		2014		10.0000		10.0932		364,219
		03		2019		10.2084		12.4929		13,894
		03		2018		10.3279		10.2084		15,029
		03		2017		9.1988		10.3279		15,738
		03		2016		8.4341		9.1988		18,146
		03		2015		10.0911		8.4341		14,546
		03		2014		10.0000		10.0911		31,044
		04		2019		10.1402		12.3908		89,801
		04		2018		10.2745		10.1402		92,986
		04		2017		9.1651		10.2745		121,052
		04		2016		8.4160		9.1651		151,173
		04		2015		10.0850		8.4160		203,908
		04		2014		10.0000		10.0850		254,972
		05		2019		10.1173		12.3563		0
		05		2018		10.2567		10.1173		0
		05		2017		9.1539		10.2567		0
		05		2016		8.4101		9.1539		0
		05		2015		10.0829		8.4101		0
		05		2014		10.0000		10.0829		2,183
		06		2019		10.0500		12.2558		17,370
		06		2018		10.2037		10.0500		17,370
		06		2017		9.1202		10.2037		17,370
		06		2016		8.3920		9.1202		30,955
		06		2015		10.0768		8.3920		30,995
		06		2014		10.0000		10.0768		34,575

354

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		10.0275		12.2222		0
		07		2018		10.1861		10.0275		0
		07		2017		9.1091		10.1861		0
		07		2016		8.3860		9.1091		0
		07		2015		10.0747		8.3860		0
		07		2014		10.0000		10.0747		0
		08		2019		9.9377		12.0882		0
		08		2018		10.1155		9.9377		0
		08		2017		9.0643		10.1155		0
		08		2016		8.3620		9.0643		0
		08		2015		10.0665		8.3620		0
		08		2014		10.0000		10.0665		0
MFS Value Series, Initial Class		01		2019		16.7469		21.3692		342,030
		01		2018		18.9488		16.7469		471,258
		01		2017		16.3830		18.9488		551,819
		01		2016		14.6081		16.3830		781,595
		01		2015		14.9709		14.6081		1,009,306
		01		2014		13.7814		14.9709		1,289,429
		01		2013		10.3170		13.7814		1,836,911
		01		2012		10.0000		10.3170		2,370,074
		02		2019		16.5405		21.0636		376,598
		02		2018		18.7530		16.5405		477,706
		02		2017		16.2463		18.7530		562,204
		02		2016		14.5157		16.2463		670,787
		02		2015		14.9066		14.5157		866,369
		02		2014		13.7501		14.9066		1,071,126
		02		2013		10.3146		13.7501		1,507,446
		02		2012		10.0000		10.3146		2,003,733
		03		2019		16.4891		20.9876		23,432
		03		2018		18.7042		16.4891		27,158
		03		2017		16.2122		18.7042		31,151
		03		2016		14.4926		16.2122		33,800
		03		2015		14.8905		14.4926		45,302
		03		2014		13.7423		14.8905		50,786
		03		2013		10.3140		13.7423		48,533
		03		2012		10.0000		10.3140		62,384
		04		2019		16.3360		26.7614		126,369
		04		2018		18.5587		16.3360		145,501
		04		2017		16.1103		18.5587		156,207
		04		2016		14.4236		16.1103		179,315
		04		2015		14.8423		14.4236		235,883
		04		2014		13.7188		14.8423		290,759
		04		2013		10.3122		13.7188		462,090
		04		2012		10.0000		10.3122		626,789

355

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		16.2849		20.6856		2,692
		05		2018		18.5104		16.2849		2,868
		05		2017		16.0767		18.5104		4,114
		05		2016		14.4008		16.0767		8,121
		05		2015		14.8264		14.4008		8,307
		05		2014		13.7111		14.8264		8,378
		05		2013		10.3116		13.7111		4,480
		05		2012		10.0000		10.3116		4,529
		06		2019		16.1339		20.4633		2,811
		06		2018		18.3662		16.1339		7,698
		06		2017		15.9754		18.3662		9,195
		06		2016		14.3321		15.9754		16,283
		06		2015		14.7784		14.3321		18,525
		06		2014		13.6877		14.7784		21,167
		06		2013		10.3098		13.6877		32,085
		06		2012		10.0000		10.3098		42,917
		07		2019		16.0837		20.3894		284
		07		2018		18.3184		16.0837		1,528
		07		2017		15.9418		18.3184		1,732
		07		2016		14.3093		15.9418		3,724
		07		2015		14.7624		14.3093		4,660
		07		2014		13.6799		14.7624		5,889
		07		2013		10.3091		13.6799		23,543
		07		2012		10.0000		10.3091		46,028
		08		2019		15.8837		20.0950		0
		08		2018		18.1276		15.8837		0
		08		2017		15.8078		18.1276		0
		08		2016		14.2182		15.8078		0
		08		2015		14.6985		14.2182		0
		08		2014		13.6486		14.6985		2,637
		08		2013		10.3067		13.6486		7,996
		08		2012		10.0000		10.3067		9,693
MFS Value Series, Service Class		01		2019		16.4882		20.9912		301,497
		01		2018		18.7123		16.4882		378,418
		01		2017		16.2203		18.7123		487,476
		01		2016		14.5029		16.2203		612,835
		01		2015		14.8927		14.5029		861,725
		01		2014		13.7477		14.8927		1,107,665
		01		2013		10.3139		13.7477		147,412
		01		2012		10.0000		10.3139		186,744
		02		2019		16.2851		20.6911		184,733
		02		2018		18.5190		16.2851		216,261
		02		2017		16.0850		18.5190		262,655
		02		2016		14.4112		16.0850		325,588
		02		2015		14.8288		14.4112		412,124
		02		2014		13.7165		14.8288		552,680
		02		2013		10.3115		13.7165		39,903
		02		2012		10.0000		10.3115		46,580

356

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		16.2345		20.6164		12,300
		03		2018		18.4708		16.2345		14,334
		03		2017		16.0512		18.4708		15,075
		03		2016		14.3883		16.0512		11,541
		03		2015		14.8127		14.3883		13,425
		03		2014		13.7087		14.8127		15,066
		03		2013		10.3109		13.7087		0
		03		2012		10.0000		10.3109		0
		04		2019		16.0837		20.3942		109,975
		04		2018		18.3271		16.0837		123,227
		04		2017		15.9503		18.3271		127,600
		04		2016		14.3198		15.9503		147,791
		04		2015		14.7648		14.3198		172,720
		04		2014		13.6853		14.7648		194,186
		04		2013		10.3091		13.6853		9,341
		04		2012		10.0000		10.3091		11,025
		05		2019		16.0334		20.3198		0
		05		2018		18.2794		16.0334		0
		05		2017		15.9170		18.2794		0
		05		2016		14.2972		15.9170		0
		05		2015		14.7490		14.2972		0
		05		2014		13.6776		14.7490		0
		05		2013		10.3085		13.6776		0
		05		2012		10.0000		10.3085		0
		06		2019		15.8847		20.1014		8,298
		06		2018		18.1370		15.8847		8,330
		06		2017		15.8167		18.1370		8,296
		06		2016		14.2289		15.8167		9,290
		06		2015		14.7012		14.2289		9,483
		06		2014		13.6542		14.7012		11,679
		06		2013		10.3067		13.6542		0
		06		2012		10.0000		10.3067		0
		07		2019		15.8353		20.0288		0
		07		2018		18.0898		15.8353		0
		07		2017		15.7835		18.0898		0
		07		2016		14.2063		15.7835		20
		07		2015		14.6853		14.2063		27
		07		2014		13.6464		14.6853		32
		07		2013		10.3061		13.6464		0
		07		2012		10.0000		10.3061		0
		08		2019		15.6384		19.7396		0
		08		2018		17.9014		15.6384		0
		08		2017		15.6509		17.9014		0
		08		2016		14.1158		15.6509		0
		08		2015		14.6218		14.1158		0
		08		2014		13.6153		14.6218		0
		08		2013		10.3036		13.6153		0
		08		2012		10.0000		10.3036		0

357

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
MFS Blended Research Small Cap Equity Portfolio, Service Class		01		2019		17.9867		22.3420		176,521
		01		2018		19.3338		17.9867		266,458
		01		2017		17.1466		19.3338		289,831
		01		2016		14.4655		17.1466		370,586
		01		2015		15.3986		14.4655		519,130
		01		2014		14.6263		15.3896		663,307
		01		2013		10.2380		14.6263		857,420
		01		2012		9.1053		10.2380		1,153,111
		01		2011		9.7596		9.1053		1,280,349
		01		2010		8.0019		9.7596		1,407,197
		02		2019		17.5593		21.7675		143,498
		02		2018		18.9125		17.5593		170,340
		02		2017		16.8067		18.9125		207,767
		02		2016		14.2076		16.8067		245,733
		02		2015		15.1461		14.2076		338,561
		02		2014		14.4242		15.1461		425,937
		02		2013		10.1171		14.4242		536,543
		02		2012		9.0162		10.1171		709,710
		02		2011		9.6838		9.0162		785,658
		02		2010		7.9559		9.6838		944,705
		03		2019		17.4537		21.6257		3,691
		03		2018		18.8082		17.4537		3,842
		03		2017		16.7224		18.8082		4,714
		03		2016		14.1436		16.7224		7,136
		03		2015		15.0855		14.1436		11,222
		03		2014		14.3739		15.0855		12,121
		03		2013		10.0870		14.3739		7,755
		03		2012		8.9940		10.0870		8,512
		03		2011		9.6649		8.9940		9,510
		03		2010		7.9444		9.6649		10,390
		04		2019		17.1406		21.2058		39,875
		04		2018		18.4989		17.1406		43,520
		04		2017		16.4723		18.4989		46,209
		04		2016		13.9534		16.4723		52,262
		04		2015		14.9055		13.9534		76,111
		04		2014		14.2242		14.9055		94,663
		04		2013		9.9972		14.2242		119,109
		04		2012		8.9277		9.9972		148,742
		04		2011		9.6083		8.9277		160,573
		04		2010		7.9100		9.6083		171,550

358

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		17.0376		21.0673		985
		05		2018		18.3974		17.0376		1,048
		05		2017		16.3903		18.3974		1,114
		05		2016		13.8910		16.3903		1,137
		05		2015		14.8464		13.8910		2,237
		05		2014		14.1750		14.8464		1,137
		05		2013		9.9676		14.1750		1,137
		05		2012		8.9058		9.9676		1,137
		05		2011		9.5896		8.9058		1,138
		05		2010		7.8987		9.5896		3,335
		06		2019		16.7318		20.6585		108
		06		2018		18.0944		16.7318		120
		06		2017		16.1445		18.0944		119
		06		2016		13.7037		16.1445		161
		06		2015		14.6687		13.7037		241
		06		2014		14.0269		14.6687		291
		06		2013		9.8787		14.0269		353
		06		2012		8.8400		9.8787		520
		06		2011		9.5334		8.8400		369
		06		2010		7.8644		9.5334		1,801
		07		2019		16.6311		20.5238		0
		07		2018		17.9946		16.6311		0
		07		2017		16.0635		17.9946		0
		07		2016		13.6420		16.0635		0
		07		2015		14.6101		13.6420		0
		07		2014		13.9780		14.6101		0
		07		2013		9.8492		13.9780		25
		07		2012		8.8182		9.8492		1,160
		07		2011		9.5147		8.8182		5,179
		07		2010		7.8530		9.5147		5,872
		08		2019		16.2328		19.9915		0
		08		2018		17.5995		16.2328		0
		08		2017		15.7428		17.5995		0
		08		2016		13.3970		15.7428		0
		08		2015		14.3773		13.3970		0
		08		2014		13.7834		14.3773		0
		08		2013		9.7321		13.7834		0
		08		2012		8.7312		9.7321		37
		08		2011		9.4402		8.7312		0
		08		2010		7.8075		9.4402		0
MFS Conservative Allocation Portfolio, Service Class		01		2019		15.3329		17.5564		1,548,589
		01		2018		16.0688		15.3329		2,193,386
		01		2017		14.6943		16.0688		2,493,791
		01		2016		14.2736		14.6943		3,148,405
		01		2015		14.5917		14.2736		3,808,315
		01		2014		14.2168		14.5917		4,253,125
		01		2013		13.2058		14.2168		4,787,525
		01		2012		12.3582		13.2058		5,441,083
		01		2011		12.4928		12.3582		5,806,695
		01		2010		11.5910		12.4928		6,112,341

359

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		15.0184		17.1619		250,150
		02		2018		15.7710		15.0184		304,499
		02		2017		14.4509		15.7710		362,648
		02		2016		14.0658		14.4509		431,291
		02		2015		14.4086		14.0658		538,747
		02		2014		14.0670		14.4086		643,565
		02		2013		13.0934		14.0670		729,825
		02		2012		12.2781		13.0934		909,647
		02		2011		12.4371		12.2781		923,922
		02		2010		11.5627		12.4371		1,226,099
		03		2019		14.9406		17.0644		0
		03		2018		15.6972		14.9406		0
		03		2017		14.3905		15.6972		28,881
		03		2016		14.0142		14.3905		31,045
		03		2015		14.3631		14.0142		28,944
		03		2014		14.0297		14.3631		24,513
		03		2013		13.0653		14.0297		25,256
		03		2012		12.2581		13.0653		26,500
		03		2011		12.4231		12.2581		33,923
		03		2010		11.5557		12.4231		684
		04		2019		14.7093		16.7750		275,468
		04		2018		15.4777		14.7093		286,975
		04		2017		14.2108		15.4777		315,459
		04		2016		13.8604		14.2108		428,873
		04		2015		14.2272		13.8604		498,270
		04		2014		13.9183		14.2272		507,487
		04		2013		12.9815		13.9183		580,155
		04		2012		12.1982		12.9815		674,768
		04		2011		12.3814		12.1982		847,276
		04		2010		11.5345		12.3814		1,039,492
		05		2019		14.6330		16.6793		0
		05		2018		15.4055		14.6330		0
		05		2017		14.1518		15.4055		0
		05		2016		13.8098		14.1518		0
		05		2015		14.1825		13.8098		0
		05		2014		13.8816		14.1825		0
		05		2013		12.9538		13.8816		0
		05		2012		12.1784		12.9538		0
		05		2011		12.3676		12.1784		0
		05		2010		11.5275		12.3676		0
		06		2019		14.4066		16.3967		0
		06		2018		15.1898		14.4066		0
		06		2017		13.9746		15.1898		0
		06		2016		13.6578		13.9746		0
		06		2015		14.0480		13.6578		0
		06		2014		13.7711		14.0480		0
		06		2013		12.8705		13.7711		0
		06		2012		12.1188		12.8705		0
		06		2011		12.3259		12.1188		0
		06		2010		11.5063		12.3259		0

360

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		14.3319		16.3035		0
		07		2018		15.1187		14.3319		0
		07		2017		13.9162		15.1187		0
		07		2016		13.6077		13.9162		0
		07		2015		14.0036		13.6077		0
		07		2014		13.7346		14.0036		0
		07		2013		12.8429		13.7346		0
		07		2012		12.0990		12.8429		8,527
		07		2011		12.3121		12.0990		8,527
		07		2010		11.4993		12.3121		14,892
		08		2019		14.0355		15.9339		0
		08		2018		14.8364		14.0355		0
		08		2017		13.6840		14.8364		11,918
		08		2016		13.4082		13.6840		11,918
		08		2015		13.8266		13.4082		11,918
		08		2014		13.5889		13.8266		11,917
		08		2013		12.7327		13.5889		15,540
		08		2012		12.0200		12.7327		15,540
		08		2011		12.2567		12.0200		15,540
		08		2010		11.4711		12.2567		0
MFS Global Real Estate Portfolio, Initial Class		01		2019		27.9724		34.8882		2,135
		01		2018		29.3474		27.9724		2,324
		01		2017		26.3408		29.3474		2,474
		01		2016		24.8252		26.3408		3,426
		01		2015		25.0678		24.8252		3,484
		01		2014		22.0560		25.0678		5,566
		01		2013		21.3719		22.0560		7,264
		01		2012		16.7211		21.3719		6,010
		01		2011		18.4073		16.7211		7,583
		01		2010		16.2431		18.4073		9,089
		02		2019		27.0658		33.6898		1,514
		02		2018		28.4535		27.0658		1,899
		02		2017		25.5898		28.4535		1,966
		02		2016		24.1665		25.5898		2,713
		02		2015		24.4525		24.1665		2,979
		02		2014		21.5584		24.4525		3,223
		02		2013		20.9323		21.5584		6,184
		02		2012		16.4108		20.9323		5,639
		02		2011		18.1024		16.4108		6,695
		02		2010		16.0066		18.1024		11,185
		03		2019		26.8429		33.3956		2,119
		03		2018		28.2335		26.8429		2,150
		03		2017		25.4047		28.2335		2,397
		03		2016		24.0040		25.4047		2,759
		03		2015		24.3004		24.0040		3,086
		03		2014		21.4353		24.3004		3,321
		03		2013		20.8234		21.4353		3,722
		03		2012		16.3338		20.8234		885
		03		2011		18.0267		16.3338		2,097
		03		2010		15.9478		18.0267		2,450

361

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		26.1854		32.5285		918
		04		2018		27.5837		26.1854		1,005
		04		2017		24.8575		27.5837		1,075
		04		2016		23.5230		24.8575		1,146
		04		2015		23.8500		23.5230		5,425
		04		2014		21.0703		23.8500		5,847
		04		2013		20.5002		21.0703		7,152
		04		2012		16.1050		20.5002		7,689
		04		2011		17.8015		16.1050		9,053
		04		2010		15.7727		17.8015		13,421
		05		2019		25.9703		32.2445		13
		05		2018		27.3715		25.9703		15
		05		2017		24.6790		27.3715		18
		05		2016		23.3659		24.6790		20
		05		2015		23.7028		23.3659		23
		05		2014		20.9508		23.7028		25
		05		2013		20.3943		20.9508		29
		05		2012		16.0300		20.3943		0
		05		2011		17.7275		16.0300		0
		05		2010		15.7152		17.7275		782
		06		2019		25.3336		31.4072		605
		06		2018		26.7406		25.3336		624
		06		2017		24.1462		26.7406		652
		06		2016		22.8966		24.1462		650
		06		2015		23.2624		22.8966		672
		06		2014		20.5932		23.2624		1,023
		06		2013		20.0771		20.5932		1,100
		06		2012		15.8050		20.0771		1,003
		06		2011		17.5056		15.8050		1,273
		06		2010		15.5422		17.5056		1,705
		07		2019		21.6916		26.8785		0
		07		2018		22.9079		21.6916		0
		07		2017		20.6958		22.9079		0
		07		2016		19.6348		20.6958		16
		07		2015		19.9587		19.6348		20
		07		2014		17.6776		19.9587		23
		07		2013		17.2433		17.6776		1,008
		07		2012		13.5812		17.2433		4,500
		07		2011		15.0502		13.5812		5,639
		07		2010		13.3690		15.0502		8,669
		08		2019		21.0070		25.9774		0
		08		2018		22.2303		21.0070		0
		08		2017		20.1245		22.2303		2
		08		2016		19.1320		20.1245		3
		08		2015		19.4875		19.1320		3
		08		2014		17.2957		19.4875		3
		08		2013		16.9054		17.2957		4
		08		2012		13.3425		16.9054		59
		08		2011		14.8160		13.3425		48
		08		2010		13.1880		14.8160		48

362

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
MFS Global Real Estate Portfolio, Service Class		01		2019		18.0245		22.4457		133,299
		01		2018		18.9698		18.0245		174,189
		01		2017		17.0662		18.9698		228,127
		01		2016		16.1195		17.0662		307,645
		01		2015		16.3216		16.1195		382,092
		01		2014		14.3993		16.3216		470,261
		01		2013		13.9821		14.3993		647,598
		01		2012		10.9790		13.9821		658,543
		01		2011		12.1056		10.9790		870,267
		01		2010		10.7138		12.1056		968,518
		02		2019		17.4860		21.7314		135,487
		02		2018		18.4401		17.4860		162,932
		02		2017		16.6230		18.4401		206,998
		02		2016		15.7328		16.6230		249,889
		02		2015		15.9626		15.7328		306,361
		02		2014		14.1112		15.9626		399,948
		02		2013		13.7303		14.1112		570,493
		02		2012		10.8034		13.7303		584,473
		02		2011		11.9363		10.8034		730,824
		02		2010		10.5854		11.9363		811,180
		03		2019		17.3534		21.5558		7,614
		03		2018		18.3095		17.3534		8,616
		03		2017		16.5136		18.3095		10,643
		03		2016		15.6373		16.5136		9,799
		03		2015		15.8738		15.6373		12,762
		03		2014		14.0399		15.8738		14,268
		03		2013		13.6678		14.0399		12,020
		03		2012		10.7597		13.6678		13,367
		03		2011		11.8941		10.7597		28,424
		03		2010		10.5535		11.8941		33,077
		04		2019		16.9616		21.0378		61,960
		04		2018		17.9234		16.9616		68,058
		04		2017		16.1897		17.9234		78,427
		04		2016		15.3541		16.1897		89,666
		04		2015		15.6102		15.3541		106,022
		04		2014		13.8279		15.6102		122,131
		04		2013		13.4822		13.8279		174,512
		04		2012		10.6299		13.4822		173,315
		04		2011		11.7687		10.6299		227,268
		04		2010		10.4581		11.7687		262,950
		05		2019		16.8332		20.8673		629
		05		2018		17.7970		16.8332		667
		05		2017		16.0839		17.7970		1,288
		05		2016		15.2615		16.0839		3,095
		05		2015		15.5239		15.2615		3,192
		05		2014		13.7585		15.5239		3,174
		05		2013		13.4213		13.7585		1,354
		05		2012		10.5873		13.4213		1,259
		05		2011		11.7274		10.5873		1,352
		05		2010		10.4267		11.7274		2,243

363

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		16.4530		20.3656		0
		06		2018		17.4211		16.4530		2,251
		06		2017		15.7678		17.4211		2,955
		06		2016		14.9845		15.7678		6,118
		06		2015		15.2656		14.9845		6,522
		06		2014		13.5504		15.2656		6,679
		06		2013		13.2386		13.5504		8,912
		06		2012		10.4593		13.2386		9,801
		06		2011		11.6034		10.4593		11,910
		06		2010		10.3324		11.6034		12,433
		07		2019		16.3281		20.2009		85
		07		2018		17.2977		16.3281		444
		07		2017		15.6640		17.2977		540
		07		2016		14.8935		15.6640		1,116
		07		2015		15.1807		14.8935		1,309
		07		2014		13.4818		15.1807		1,547
		07		2013		13.1783		13.4818		4,816
		07		2012		10.4171		13.1783		6,156
		07		2011		11.5624		10.4171		15,055
		07		2010		10.3011		11.5624		19,902
		08		2019		15.8365		19.5528		0
		08		2018		16.8111		15.8365		0
		08		2017		15.2543		16.8111		0
		08		2016		14.5337		15.2543		0
		08		2015		14.8444		14.5337		0
		08		2014		13.2102		14.8444		0
		08		2013		12.9394		13.2102		2,406
		08		2012		10.2493		12.9394		2,094
		08		2011		11.3995		10.2493		2,348
		08		2010		10.1768		11.3995		3,112
MFS Growth Allocation Portfolio, Service Class		01		2019		20.8372		25.9457		1,258,627
		01		2018		22.4232		20.8372		1,475,180
		01		2017		19.0853		22.4232		1,717,089
		01		2016		18.1556		19.0853		2,234,011
		01		2015		18.4147		18.1556		2,791,319
		01		2014		17.8350		18.4147		2,934,595
		01		2013		14.8253		17.8350		3,122,388
		01		2012		13.4192		14.8253		3,442,050
		01		2011		14.2050		13.4192		3,778,459
		01		2010		12.7188		14.2050		3,865,002
		02		2019		20.4099		25.3627		434,102
		02		2018		22.0076		20.4099		489,370
		02		2017		18.7692		22.0076		555,676
		02		2016		17.8913		18.7692		629,257
		02		2015		18.1837		17.8913		787,458
		02		2014		17.6471		18.1837		987,902
		02		2013		14.6990		17.6471		1,080,876
		02		2012		13.3321		14.6990		1,077,409
		02		2011		14.1416		13.3321		1,164,361
		02		2010		12.6878		14.1416		1,290,759

364

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		20.3040		25.2185		1,623
		03		2018		21.9046		20.3040		7,020
		03		2017		18.6907		21.9046		7,482
		03		2016		17.8256		18.6907		7,984
		03		2015		18.1262		17.8256		8,536
		03		2014		17.6003		18.1262		9,086
		03		2013		14.6675		17.6003		9,648
		03		2012		13.3104		14.6675		10,275
		03		2011		14.1257		13.3104		10,988
		03		2010		12.6800		14.1257		11,668
		04		2019		19.9898		24.7909		138,841
		04		2018		21.5984		19.9898		146,852
		04		2017		18.4573		21.5984		166,996
		04		2016		17.6299		18.4573		181,387
		04		2015		17.9547		17.6299		187,290
		04		2014		17.4606		17.9547		207,725
		04		2013		14.5733		17.4606		209,045
		04		2012		13.2454		14.5733		199,908
		04		2011		14.0782		13.2454		233,484
		04		2010		12.6568		14.0782		255,492
		05		2019		19.8861		24.6493		0
		05		2018		21.4976		19.8861		0
		05		2017		18.3807		21.4976		0
		05		2016		17.5656		18.3807		0
		05		2015		17.8983		17.5656		0
		05		2014		17.4146		17.8983		0
		05		2013		14.5423		17.4146		0
		05		2012		13.2239		14.5423		0
		05		2011		14.0625		13.2239		0
		05		2010		12.6491		14.0625		0
		06		2019		19.5784		24.2318		0
		06		2018		21.1967		19.5784		0
		06		2017		18.1505		21.1967		0
		06		2016		17.3724		18.1505		0
		06		2015		17.7286		17.3724		0
		06		2014		17.2760		17.7286		0
		06		2013		14.4488		17.2760		0
		06		2012		13.1592		14.4488		0
		06		2011		14.0152		13.1592		0
		06		2010		12.6258		14.0152		0
		07		2019		19.4768		24.0939		0
		07		2018		21.0974		19.4768		0
		07		2017		18.0746		21.0974		0
		07		2016		17.3086		18.0746		0
		07		2015		17.6725		17.3086		0
		07		2014		17.2302		17.6725		0
		07		2013		14.4178		17.2302		0
		07		2012		13.1377		14.4178		0
		07		2011		13.9994		13.1377		0
		07		2010		12.6181		13.9994		0

365

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		19.0741		23.5479		0
		08		2018		20.7034		19.0741		0
		08		2017		17.7731		20.7034		0
		08		2016		17.0548		17.7731		0
		08		2015		17.4492		17.0548		0
		08		2014		17.0473		17.4492		0
		08		2013		14.2941		17.0473		0
		08		2012		13.0518		14.2941		0
		08		2011		13.9365		13.0518		0
		08		2010		12.5871		13.9365		0
MFS Inflation-Adjusted Bond Portfolio, Service Class		01		2019		11.5175		12.2338		433,835
		01		2018		12.2953		11.5175		507,971
		01		2017		11.5818		12.2953		662,310
		01		2016		11.5081		11.5818		831,121
		01		2015		12.3578		11.5081		870,319
		01		2014		12.1542		12.3578		1,054,706
		01		2013		13.0543		12.1542		1,193,407
		01		2012		12.3637		13.0543		1,340,518
		01		2011		11.2576		12.3637		1,958,162
		01		2010		10.9162		11.2576		1,356,947
		02		2019		11.2813		11.9589		102,702
		02		2018		12.0675		11.2813		104,290
		02		2017		11.3899		12.0675		121,844
		02		2016		11.3405		11.3899		164,390
		02		2015		12.2027		11.3405		207,419
		02		2014		12.0262		12.2027		234,266
		02		2013		12.9431		12.0262		389,962
		02		2012		12.2835		12.9431		637,540
		02		2011		11.2073		12.2835		721,833
		02		2010		10.8896		11.2073		547,701
		03		2019		11.2228		11.8909		0
		03		2018		12.0109		11.2228		0
		03		2017		11.3423		12.0109		0
		03		2016		11.2989		11.3423		0
		03		2015		12.1641		11.2989		2,463
		03		2014		11.9943		12.1641		3,500
		03		2013		12.9154		11.9943		3,672
		03		2012		12.2635		12.9154		3,243
		03		2011		11.1948		12.2635		3,299
		03		2010		10.8830		11.1948		3,124
		04		2019		11.0491		11.6893		215,124
		04		2018		11.8430		11.0491		247,622
		04		2017		11.2006		11.8430		227,628
		04		2016		11.1749		11.2006		254,100
		04		2015		12.0490		11.1749		253,526
		04		2014		11.8991		12.0490		267,659
		04		2013		12.8325		11.8991		304,994
		04		2012		12.2036		12.8325		347,882
		04		2011		11.1571		12.2036		346,600
		04		2010		10.8630		11.1571		380,903

366

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		10.9918		11.6225		0
		05		2018		11.7877		10.9918		0
		05		2017		11.1541		11.7877		0
		05		2016		11.1341		11.1541		0
		05		2015		12.0112		11.1341		0
		05		2014		11.8677		12.0112		7,333
		05		2013		12.8052		11.8677		7,301
		05		2012		12.1838		12.8052		6,841
		05		2011		11.1447		12.1838		6,565
		05		2010		10.8564		11.1447		9,386
		06		2019		10.8217		11.4256		222
		06		2018		11.6227		10.8217		230
		06		2017		11.0145		11.6227		217
		06		2016		11.0116		11.0145		227
		06		2015		11.8973		11.0116		222
		06		2014		11.7733		11.8973		212
		06		2013		12.7228		11.7733		217
		06		2012		12.1242		12.7228		200
		06		2011		11.1071		12.1242		0
		06		2010		10.8365		11.1071		0
		07		2019		10.7655		11.3606		0
		07		2018		11.5682		10.7655		0
		07		2017		10.9684		11.5682		0
		07		2016		10.9711		10.9684		0
		07		2015		11.8597		10.9711		0
		07		2014		11.7420		11.8597		0
		07		2013		12.6956		11.7420		4,068
		07		2012		12.1044		12.6956		3,798
		07		2011		11.0947		12.1044		0
		07		2010		10.8298		11.0947		2,619
		08		2019		10.5429		11.1031		0
		08		2018		11.3523		10.5429		0
		08		2017		10.7854		11.3523		0
		08		2016		10.8103		10.7854		0
		08		2015		11.7098		10.8103		0
		08		2014		11.6175		11.7098		0
		08		2013		12.5867		11.6175		0
		08		2012		12.0253		12.5867		0
		08		2011		11.0448		12.0253		0
		08		2010		10.8033		11.0448		0
MFS Limited Maturity Portfolio, Initial Class		01		2019		9.9998		10.3402		1,220,472
		01		2018		10.0451		9.9998		1,455,548
		01		2017		10.0443		10.0451		1,846,521
		01		2016		10.0486		10.0443		2,157,861
		01		2015		10.1738		10.0486		2,464,595
		01		2014		10.2674		10.1738		3,193,588
		01		2013		10.3711		10.2674		4,004,925
		01		2012		10.3198		10.3711		4,230,403
		01		2011		10.4429		10.3198		4,616,301
		01		2010		10.3730		10.4429		5,510,789

367

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		9.7825		10.0952		1,345,603
		02		2018		9.8466		9.7825		1,436,032
		02		2017		9.8656		9.8466		1,806,123
		02		2016		9.8900		9.8656		1,990,207
		02		2015		10.0336		9.8900		2,245,109
		02		2014		10.1465		10.0336		2,813,384
		02		2013		10.2699		10.1465		3,582,381
		02		2012		10.2401		10.2699		3,888,745
		02		2011		10.3833		10.2401		4,137,329
		02		2010		10.3349		10.3833		4,817,331
		03		2019		9.7287		10.0347		72,896
		03		2018		9.7974		9.7287		95,752
		03		2017		9.8212		9.7974		112,163
		03		2016		9.8506		9.8212		107,882
		03		2015		9.9987		9.8506		142,358
		03		2014		10.1164		9.9987		159,932
		03		2013		10.2447		10.1164		130,027
		03		2012		10.2201		10.2447		157,527
		03		2011		10.3683		10.2201		179,366
		03		2010		10.3253		10.3683		209,348
		04		2019		9.5691		9.8552		392,808
		04		2018		9.6513		9.5691		407,587
		04		2017		9.6894		9.6513		465,792
		04		2016		9.7333		9.6894		499,520
		04		2015		9.8948		9.7333		620,770
		04		2014		10.0266		9.8948		749,601
		04		2013		10.1694		10.0266		1,131,676
		04		2012		10.1606		10.1694		1,166,765
		04		2011		10.3238		10.1606		1,333,729
		04		2010		10.2967		10.3238		1,590,325
		05		2019		9.5165		9.7959		2,052
		05		2018		9.6033		9.5165		1,905
		05		2017		9.6462		9.6033		4,729
		05		2016		9.6948		9.6462		11,846
		05		2015		9.8607		9.6948		11,484
		05		2014		9.9971		9.8607		11,563
		05		2013		10.1446		9.9971		3,743
		05		2012		10.1411		10.1446		3,199
		05		2011		10.3091		10.1411		2,935
		05		2010		10.2872		10.3091		29,296
		06		2019		9.3604		9.6209		228
		06		2018		9.4599		9.3604		12,444
		06		2017		9.5164		9.4599		24,782
		06		2016		9.5791		9.5164		40,127
		06		2015		9.7580		9.5791		40,640
		06		2014		9.9082		9.7580		43,748
		06		2013		10.0698		9.9082		90,434
		06		2012		10.0819		10.0698		102,018
		06		2011		10.2646		10.0819		108,925
		06		2010		10.2586		10.2646		177,498

368

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		9.3090		9.5632		1,816
		07		2018		9.4127		9.3090		6,307
		07		2017		9.4737		9.4127		7,540
		07		2016		9.5409		9.4737		13,326
		07		2015		9.7241		9.5409		14,765
		07		2014		9.8788		9.7241		19,272
		07		2013		10.0451		9.8788		70,396
		07		2012		10.0623		10.0451		77,237
		07		2011		10.2499		10.0623		114,169
		07		2010		10.2492		10.2499		176,114
		08		2019		9.1050		9.5632		0
		08		2018		9.2253		9.1050		0
		08		2017		9.3039		9.2253		0
		08		2016		9.3892		9.3039		0
		08		2015		9.5891		9.3892		0
		08		2014		9.7617		9.5891		13,006
		08		2013		9.9463		9.7617		22,657
		08		2012		9.9840		9.9463		21,884
		08		2011		10.1910		9.9840		22,837
		08		2010		10.2111		10.1910		29,638
MFS Limited Maturity Portfolio, Service Class		01		2019		9.7248		10.0280		697,618
		01		2018		9.7968		9.7248		738,090
		01		2017		9.8232		9.7968		925,049
		01		2016		9.8472		9.8232		1,038,492
		01		2015		9.9897		9.8472		1,192,759
		01		2014		10.1132		9.9897		1,470,753
		01		2013		10.2387		10.1132		1,561,196
		01		2012		10.2118		10.2387		1,554,043
		01		2011		10.3698		10.2118		2,559,665
		01		2010		10.3263		10.3698		1,672,470
		02		2019		9.5134		9.7903		424,253
		02		2018		9.6031		9.5134		450,300
		02		2017		9.6484		9.6031		510,813
		02		2016		9.6917		9.6484		517,723
		02		2015		9.8520		9.6917		624,150
		02		2014		9.9941		9.8520		768,548
		02		2013		10.1388		9.9941		692,692
		02		2012		10.1329		10.1388		610,382
		02		2011		10.3106		10.1329		599,037
		02		2010		10.2882		10.3106		643,539
		03		2019		9.4612		9.7317		3,488
		03		2018		9.5552		9.4612		3,595
		03		2017		9.6051		9.5552		4,167
		03		2016		9.6531		9.6051		4,143
		03		2015		9.8178		9.6531		4,308
		03		2014		9.9645		9.8178		7,481
		03		2013		10.1139		9.9645		7,743
		03		2012		10.1132		10.1139		7,125
		03		2011		10.2958		10.1132		6,746
		03		2010		10.2787		10.2958		6,907

369

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		9.3060		9.5576		106,988
		04		2018		9.4127		9.3060		151,027
		04		2017		9.4762		9.4127		166,789
		04		2016		9.5382		9.4762		184,615
		04		2015		9.7158		9.5382		187,959
		04		2014		9.8760		9.7158		206,725
		04		2013		10.0396		9.8760		194,447
		04		2012		10.0543		10.0396		152,115
		04		2011		10.2516		10.0543		212,464
		04		2010		10.2502		10.2516		128,197
		05		2019		9.2548		9.5001		0
		05		2018		9.3659		9.2548		0
		05		2017		9.4339		9.3659		0
		05		2016		9.5005		9.4339		0
		05		2015		9.6823		9.5005		0
		05		2014		9.8470		9.6823		0
		05		2013		10.0151		9.8470		0
		05		2012		10.0349		10.0151		0
		05		2011		10.2370		10.0349		0
		05		2010		10.2408		10.2370		0
		06		2019		9.1030		9.3303		0
		06		2018		9.2261		9.1030		0
		06		2017		9.3070		9.2261		0
		06		2016		9.3870		9.3070		0
		06		2015		9.5814		9.3870		0
		06		2014		9.7594		9.5814		0
		06		2013		9.9412		9.7594		0
		06		2012		9.9763		9.9412		0
		06		2011		10.1928		9.9763		0
		06		2010		10.2124		10.1928		0
		07		2019		9.0529		9.2744		0
		07		2018		9.1800		9.0529		0
		07		2017		9.2652		9.1800		0
		07		2016		9.3496		9.2652		0
		07		2015		9.5481		9.3496		0
		07		2014		9.7304		9.5481		0
		07		2013		9.9168		9.7304		0
		07		2012		9.9569		9.9168		0
		07		2011		10.1782		9.9569		0
		07		2010		10.2029		10.1782		0
		08		2019		8.8545		9.0527		0
		08		2018		8.9972		8.8545		0
		08		2017		9.0991		8.9972		0
		08		2016		9.2010		9.0991		0
		08		2015		9.4155		9.2010		0
		08		2014		9.6151		9.4155		0
		08		2013		9.8194		9.6151		0
		08		2012		9.8794		9.8194		0
		08		2011		10.1197		9.8794		0
		08		2010		10.1651		10.1197		0

370

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
MFS Mid Cap Value Portfolio, Initial Class		01		2019		18.7169		24.1255		43,213
		01		2018		21.5036		18.7169		54,948
		01		2017		19.2422		21.5036		73,066
		01		2016		16.8782		19.2422		96,066
		01		2015		17.5791		16.8782		125,065
		01		2014		16.2037		17.5791		181,214
		01		2013		12.0396		16.2037		254,973
		01		2012		10.5249		12.0396		362,012
		01		2011		10.4482		10.5249		417,842
		01		2010		8.7029		10.4482		473,231
		02		2019		18.3100		23.5538		52,308
		02		2018		21.6787		18.3100		77,714
		02		2017		18.8998		21.0787		92,670
		02		2016		16.6117		18.8998		101,520
		02		2015		17.3368		16.6117		135,209
		02		2014		16.0129		17.3368		155,344
		02		2013		11.9221		16.0129		223,054
		02		2012		10.4435		11.9221		344,951
		02		2011		10.3885		10.4435		434,458
		02		2010		8.6708		10.3885		483,196
		03		2019		18.2093		23.4125		1,285
		03		2018		20.9733		18.2093		1,405
		03		2017		18.8148		20.9733		1,840
		03		2016		16.5455		18.8148		2,529
		03		2015		17.2765		16.5455		2,418
		03		2014		15.9654		17.2765		2,730
		03		2013		11.8928		15.9654		2,440
		03		2012		10.4232		11.8928		8,442
		03		2011		10.3736		10.4232		12,827
		03		2010		8.6628		10.3736		17,510
		04		2019		17.9106		22.9938		80,797
		04		2018		20.6607		17.9106		86,396
		04		2017		18.5623		20.6607		89,481
		04		2016		16.3484		18.5623		100,969
		04		2015		17.0970		16.3484		124,425
		04		2014		15.8237		17.0970		129,048
		04		2013		11.8053		15.8237		156,967
		04		2012		10.3625		11.8053		201,034
		04		2011		10.3290		10.3625		211,073
		04		2010		8.6387		10.3290		266,280
		05		2019		17.8121		22.8553		586
		05		2018		20.5578		17.8121		623
		05		2017		18.4795		20.5578		962
		05		2016		16.2837		18.4795		2,000
		05		2015		17.0380		16.2837		2,050
		05		2014		15.7771		17.0380		2,055
		05		2013		11.7765		15.7771		1,003
		05		2012		10.3424		11.7765		1,043
		05		2011		10.3142		10.3424		1,054
		05		2010		8.6308		10.3142		1,074

371

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		17.5199		22.4470		0
		06		2018		20.2509		17.5199		3,030
		06		2017		18.2309		20.2509		3,355
		06		2016		16.0893		18.2309		4,901
		06		2015		16.8605		16.0893		5,456
		06		2014		15.6368		16.8605		5,759
		06		2013		11.6897		15.6368		7,624
		06		2012		10.2821		11.6897		9,672
		06		2011		10.2698		10.2821		10,058
		06		2010		8.6068		10.2698		12,657
		07		2019		17.4236		22.3123		0
		07		2018		20.1497		17.4236		0
		07		2017		18.1489		20.1497		0
		07		2016		16.0252		18.1489		0
		07		2015		16.8019		16.0252		0
		07		2014		15.5903		16.8019		0
		07		2013		11.6610		15.5903		864
		07		2012		10.2621		11.6610		1,801
		07		2011		10.2550		10.2621		4,298
		07		2010		8.5988		10.2550		6,107
		08		2019		17.0417		21.7790		0
		08		2018		19.7485		17.0417		0
		08		2017		17.8237		19.7485		0
		08		2016		15.7703		17.8237		0
		08		2015		16.5686		15.7703		0
		08		2014		15.4055		16.5686		0
		08		2013		11.5463		15.4055		1,251
		08		2012		10.1822		11.5463		1,395
		08		2011		10.1960		10.1822		1,430
		08		2010		8.5668		10.1960		2,055
MFS Mid Cap Value Portfolio, Service Class		01		2019		18.2146		23.4040		52,341
		01		2018		20.9657		18.2146		72,725
		01		2017		18.8050		20.9657		94,427
		01		2016		16.5254		18.8050		115,612
		01		2015		17.2708		16.5254		192,429
		01		2014		15.9485		17.2708		190,536
		01		2013		11.8837		15.9485		146,813
		01		2012		10.4213		11.8837		182,819
		01		2011		10.3591		10.4213		162,349
		01		2010		8.6648		10.3591		214,341
		02		2019		17.8186		22.8494		33,975
		02		2018		20.5513		17.8186		39,475
		02		2017		18.4704		20.5513		56,916
		02		2016		16.2644		18.4704		73,869
		02		2015		17.0327		16.2644		83,719
		02		2014		15.7607		17.0327		106,187
		02		2013		11.7677		15.7607		123,019
		02		2012		10.3407		11.7677		129,133
		02		2011		10.2999		10.3407		122,827
		02		2010		8.6329		10.2999		115,137

372

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		17.7207		22.7123		3,229
		03		2018		20.4486		17.7207		3,381
		03		2017		18.3874		20.4486		3,587
		03		2016		16.1995		18.3874		4,133
		03		2015		16.9735		16.1995		6,146
		03		2014		15.7139		16.9735		6,746
		03		2013		11.7388		15.7139		190
		03		2012		10.3206		11.7388		227
		03		2011		10.2851		10.3206		242
		03		2010		8.6249		10.2851		5,197
		04		2019		17.4300		22.3061		14,727
		04		2018		20.1438		17.4300		17,010
		04		2017		18.1406		20.1438		19,943
		04		2016		16.0067		18.1406		19,984
		04		2015		16.7971		16.0067		23,240
		04		2014		15.5745		16.7971		23,167
		04		2013		11.6524		15.5745		25,348
		04		2012		10.2605		11.6524		25,571
		04		2011		10.2408		10.2605		35,491
		04		2010		8.6009		10.2408		32,809
		05		2019		17.3341		22.1718		0
		05		2018		20.0435		17.3341		0
		05		2017		18.0596		20.0435		0
		05		2016		15.9433		18.0596		0
		05		2015		16.7391		15.9433		603
		05		2014		15.5286		16.7391		0
		05		2013		11.6240		15.5286		0
		05		2012		10.2407		11.6240		0
		05		2011		10.2262		10.2407		0
		05		2010		8.5930		10.2262		0
		06		2019		17.0498		21.7757		0
		06		2018		19.7443		17.0498		0
		06		2017		17.8167		19.7443		0
		06		2016		15.7530		17.8167		0
		06		2015		16.5647		15.7530		0
		06		2014		15.3905		16.5647		0
		06		2013		11.5383		15.3905		0
		06		2012		10.1809		11.5383		0
		06		2011		10.1821		10.1809		0
		06		2010		8.5691		10.1821		0
		07		2019		16.9560		21.6450		0
		07		2018		19.6456		16.9560		0
		07		2017		17.7366		19.6456		0
		07		2016		15.6902		17.7366		0
		07		2015		16.5072		15.6902		0
		07		2014		15.3448		16.5072		0
		07		2013		11.5099		15.3448		0
		07		2012		10.1611		11.5099		0
		07		2011		10.1675		10.1611		0
		07		2010		8.5612		10.1675		0

373

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		16.5844		21.1277		0
		08		2018		19.2544		16.5844		0
		08		2017		17.4187		19.2544		0
		08		2016		15.4407		17.4187		0
		08		2015		16.2780		15.4407		0
		08		2014		15.1629		16.2780		0
		08		2013		11.3968		15.1629		0
		08		2012		10.0820		11.3968		0
		08		2011		10.1090		10.0820		0
		08		2010		8.5293		10.1090		0
MFS Moderate Allocation Portfolio, Service Class		01		2019		18.2561		21.8769		2,407,059
		01		2018		19.3723		18.2561		3,000,706
		01		2017		17.1007		19.3723		3,600,620
		01		2016		16.4326		17.1007		4,687,036
		01		2015		16.6949		16.4326		5,437,897
		01		2014		16.1688		16.6949		6,206,756
		01		2013		14.1178		16.1688		6,628,336
		01		2012		13.0108		14.1178		6,745,288
		01		2011		13.4790		13.0108		7,020,175
		01		2010		12.2621		13.4790		7,192,277
		02		2019		17.8817		21.3853		809,862
		02		2018		19.0133		17.8817		945,443
		02		2017		16.8175		19.0133		1,096,800
		02		2016		16.1935		16.8175		1,411,335
		02		2015		16.4855		16.1935		1,576,586
		02		2014		15.9984		16.4855		1,770,806
		02		2013		13.9976		15.9984		2,036,099
		02		2012		12.9264		13.9976		1,969,769
		02		2011		13.4188		12.9264		2,030,236
		02		2010		12.2323		13.4188		1,746,517
		03		2019		17.7890		21.2638		768
		03		2018		18.9242		17.7890		0
		03		2017		16.7472		18.9242		1,250
		03		2016		16.1339		16.7472		1,338
		03		2015		16.4333		16.1339		1,629
		03		2014		15.9560		16.4333		1,727
		03		2013		13.9676		15.9560		1,792
		03		2012		12.9053		13.9676		1,940
		03		2011		13.4038		12.9053		2,056
		03		2010		12.2248		13.4038		2,139
		04		2019		17.5137		20.9032		752,981
		04		2018		18.6596		17.5137		844,001
		04		2017		16.5380		18.6596		907,736
		04		2016		15.9568		16.5380		1,087,535
		04		2015		16.2779		15.9568		1,195,638
		04		2014		15.8293		16.2779		1,237,113
		04		2013		13.8780		15.8293		1,203,813
		04		2012		12.8423		13.8780		1,252,408
		04		2011		13.3587		12.8423		1,241,356
		04		2010		12.2024		13.3587		1,052,607

374

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		17.4228		20.7839		0
		05		2018		18.5726		17.4228		0
		05		2017		16.4694		18.5726		0
		05		2016		15.8987		16.4694		0
		05		2015		16.2268		15.8987		0
		05		2014		15.7876		16.2268		0
		05		2013		13.8484		15.7876		0
		05		2012		12.8215		13.8484		0
		05		2011		13.3438		12.8215		0
		05		2010		12.1950		13.3438		0
		06		2019		17.1532		20.4318		0
		06		2018		18.3127		17.1532		0
		06		2017		16.2632		18.3127		0
		06		2016		15.7237		16.2632		0
		06		2015		16.0729		15.7237		0
		06		2014		15.6620		16.0729		0
		06		2013		13.7593		15.6620		15,639
		06		2012		12.7587		13.7593		15,639
		06		2011		13.2989		12.7587		15,639
		06		2010		12.1726		13.2989		15,332
		07		2019		17.0642		20.3156		0
		07		2018		18.2269		17.0642		0
		07		2017		16.1952		18.2269		0
		07		2016		15.6660		16.1952		0
		07		2015		16.0221		15.6660		0
		07		2014		15.6204		16.0221		0
		07		2013		13.7298		15.6204		546
		07		2012		12.7379		13.7298		550
		07		2011		13.2839		12.7379		554
		07		2010		12.1651		13.2839		0
		08		2019		16.7114		19.8552		0
		08		2018		17.8865		16.7114		0
		08		2017		15.9251		17.8865		0
		08		2016		15.4363		15.9251		0
		08		2015		15.8196		15.4363		0
		08		2014		15.4547		15.8196		0
		08		2013		13.6121		15.4547		0
		08		2012		12.6547		13.6121		0
		08		2011		13.2242		12.6547		0
		08		2010		12.1353		13.2242		0
MFS New Discovery Value Portfolio, Service Class		01		2019		23.1169		30.3212		7,730
		01		2018		26.4245		23.1169		11,304
		01		2017		23.3707		26.4245		12,400
		01		2016		18.7594		23.3707		17,390
		01		2015		19.6539		18.7594		27,394
		01		2014		19.3753		19.6539		28,516
		01		2013		14.1112		19.3753		29,188
		01		2012		13.0989		14.1112		30,729
		01		2011		14.2520		13.0989		36,907
		01		2010		11.9491		14.2520		41,214

375

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		22.6427		29.6398		2,715
		02		2018		25.9347		22.6427		3,158
		02		2017		22.9836		25.9347		5,811
		02		2016		18.4862		22.9836		9,438
		02		2015		19.4072		18.4862		11,908
		02		2014		19.1712		19.4072		12,974
		02		2013		13.9910		19.1712		15,802
		02		2012		13.0139		13.9910		7,536
		02		2011		14.1883		13.0139		20,496
		02		2010		11.9200		14.1883		12,461
		03		2019		22.5252		29.4712		0
		03		2018		25,8132		22.5252		0
		03		2017		22.8874		25.8132		0
		03		2016		18.4183		22.8874		0
		03		2015		19.3458		18.4183		0
		03		2014		19.1203		19.3458		0
		03		2013		13.9610		19.1203		2,533
		03		2012		12.9926		13.9610		2,521
		03		2011		14.1724		12.9926		2,686
		03		2010		11.9127		14.1724		2,877
		04		2019		22.1766		28.9714		20,413
		04		2018		25.4523		22.1766		22,098
		04		2017		22.6015		25.4523		22,785
		04		2016		18.2161		22.6015		20,838
		04		2015		19.1628		18.2161		21,357
		04		2014		18.9685		19.1628		20,747
		04		2013		13.8714		18.9685		21,795
		04		2012		12.9291		13.8714		24,670
		04		2011		14.1248		12.9291		26,023
		04		2010		11.8908		14.1248		35,094
		05		2019		22.0616		28.8061		0
		05		2018		25.3336		22.0616		0
		05		2017		22.5077		25.3336		0
		05		2016		18.1497		22.5077		0
		05		2015		19.1026		18.1497		0
		05		2014		18.9185		19.1026		0
		05		2013		13.8419		18.9185		0
		05		2012		12.9082		13.8419		0
		05		2011		14.1090		12.9082		0
		05		2010		11.8836		14.1090		0
		06		2019		21.7202		28.3181		0
		06		2018		24.9789		21.7202		0
		06		2017		22.2259		24.9789		0
		06		2016		17.9500		22.2259		0
		06		2015		18.9215		17.9500		0
		06		2014		18.7679		18.9215		0
		06		2013		13.7528		18.7679		0
		06		2012		12.8450		13.7528		0
		06		2011		14.0615		12.8450		0
		06		2010		11.8617		14.0615		0

376

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		21.6074		28.1570		0
		07		2018		24.8619		21.6074		0
		07		2017		22.1329		24.8619		0
		07		2016		17.8840		22.1329		0
		07		2015		18.8616		17.8840		0
		07		2014		18.7181		18.8616		0
		07		2013		13.7233		18.7181		0
		07		2012		12.8240		13.7233		0
		07		2011		14.0457		12.8240		0
		07		2010		11.8545		14.0457		0
		08		2019		21.1606		27.5187		0
		08		2018		24.3976		21.1606		0
		08		2017		21.7637		24.3976		0
		08		2016		17.6218		21.7637		0
		08		2015		18.6232		17.6218		0
		08		2014		18.5195		18.6232		0
		08		2013		13.6055		18.5195		0
		08		2012		12.7402		13.6055		0
		08		2011		13.9825		12.7402		0
		08		2010		11.8253		13.9825		0
MFS Mid Cap Growth Series, Service Class		01		2019		27.4790		37.3534		51,590
		01		2018		27.6916		27.4790		66,570
		01		2017		22.2360		27.6916		85,547
		01		2016		21.6225		22.2360		110,913
		01		2015		21.0627		21.6225		147,074
		01		2014		19.7377		21.0627		190,486
		01		2013		14.6329		19.7377		220,294
		01		2012		10.0000		14.6329		276,548
		02		2019		26.5881		36.0701		21,488
		02		2018		26.8479		26.5881		27,686
		02		2017		21.6019		26.8479		38,688
		02		2016		21.0486		21.6019		56,783
		02		2015		20.5456		21.0486		72,968
		02		2014		19.2923		20.5456		113,290
		02		2013		14.3318		19.2923		137,463
		02		2012		10.0000		14.3318		167,393
		03		2019		26.3692		35.7551		1,909
		03		2018		26.6403		26.3692		2,280
		03		2017		21.4456		26.6403		2,613
		03		2016		20.9071		21.4456		3,452
		03		2015		20.4178		20.9071		3,700
		03		2014		19.1822		20.4178		4,420
		03		2013		14.2573		19.1822		5,143
		03		2012		10.0000		14.2573		3,452
		04		2019		25.7233		34.8268		11,238
		04		2018		26.0272		25.7233		14,376
		04		2017		20.9837		26.0272		17,363
		04		2016		20.4881		20.9837		16,405
		04		2015		20.0394		20.4881		15,268
		04		2014		18.8555		20.0394		19,196
		04		2013		14.0360		18.8555		27,253
		04		2012		10.0000		14.0360		32,382

377

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		25.5120		34.5227		327
		05		2018		25.8270		25.5120		348
		05		2017		20.8330		25.8270		370
		05		2016		20.3514		20.8330		377
		05		2015		19.9157		20.3514		377
		05		2014		18.7487		19.9157		377
		05		2013		13.9635		18.7487		377
		05		2012		10.0000		13.9635		377
		06		2019		24.8865		33.6261		567
		06		2018		25.2316		24.8865		640
		06		2017		20.3832		25.2316		682
		06		2016		19.9425		20.3832		773
		06		2015		19.5457		19.9425		806
		06		2014		18.4286		19.5457		1,303
		06		2013		13.7462		18.4286		1,396
		06		2012		10.0000		13.7462		1,617
		07		2019		22.6194		30.5475		0
		07		2018		22.9447		22.6194		0
		07		2017		18.5451		22.9447		0
		07		2016		18.1534		18.5451		17
		07		2015		17.8013		18.1534		22
		07		2014		16.7925		17.8013		27
		07		2013		12.5322		16.7925		301
		07		2012		10.0000		12.5322		3,796
		08		2019		21.9054		29.5232		0
		08		2018		22.2659		21.9054		0
		08		2017		18.0330		22.2659		0
		08		2016		17.6884		18.0330		0
		08		2015		17.3809		17.6884		0
		08		2014		16.4296		17.3809		0
		08		2013		12.2866		16.4296		0
		08		2012		10.0000		12.2866		0
MFS New Discovery Series, Service Class		01		2019		16.4838		22.8927		62,900
		01		2018		17.0628		16.4838		87,429
		01		2017		13.7386		17.0628		114,956
		01		2016		12.8459		13.7386		176,577
		01		2015		13.3546		12.8459		221,809
		01		2014		14.6863		13.3546		264,676
		01		2013		10.5794		14.6863		66,824
		01		2012		10.0000		10.5794		58,167
		02		2019		16.2806		22.5653		77,699
		02		2018		16.8865		16.2806		102,527
		02		2017		13.6240		16.8865		130,689
		02		2016		12.7647		13.6240		164,460
		02		2015		13.2972		12.7647		222,931
		02		2014		14.6530		13.2972		280,517
		02		2013		10.5769		14.6530		58,611
		02		2012		10.0000		10.5769		53,867
		03		2019		16.2300		22.4839		4,334
		03		2018		16,8425		16,2300		4,790
		03		2017		13.5954		16.8425		6,670
		03		2016		12.7444		13.5954		7,915
		03		2015		13.2829		12.7444		10,639
		03		2014		14.6447		13.2829		12,524
		03		2013		10.5763		14.6447		0
		03		2012		10.0000		10.5763		0

378

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		16.0792		22.2415		50,906
		04		2018		16.7114		16.0792		72,852
		04		2017		13.5099		16.7114		84,527
		04		2016		12.6837		13.5099		94,524
		04		2015		13.2399		12.6837		121,247
		04		2014		14.6197		13.2399		136,624
		04		2013		10.5744		14.6197		34,055
		04		2012		10.0000		10.5744		39,688
		05		2019		16.0290		22.1604		187
		05		2018		16.6679		16.0290		216
		05		2017		13.4817		16.6679		851
		05		2016		12.6637		13.4817		3,351
		05		2015		13.2257		12.6637		3,227
		05		2014		14.6114		13.2257		3,196
		05		2013		10.5738		14.6114		0
		05		2012		10.0000		10.5738		0
		06		2019		15.8803		21.9221		0
		06		2018		16.5381		15.8803		2,417
		06		2017		13.3967		16.5381		3,390
		06		2016		12.6032		13.3967		7,538
		06		2015		13.1828		12.6032		8,315
		06		2014		14.5864		13.1828		8,602
		06		2013		10.5720		14.5864		0
		06		2012		10.0000		10.5720		0
		07		2019		15.8309		21.8430		106
		07		2018		16.4950		15.8309		625
		07		2017		13.3686		16.4950		773
		07		2016		12.5831		13.3686		1,732
		07		2015		13.1685		12.5831		2,087
		07		2014		14.5781		13.1685		2,561
		07		2013		10.5713		14.5781		0
		07		2012		10.0000		10.5713		0
		08		2019		15.6340		21.5275		0
		08		2018		16.3232		15.6340		0
		08		2017		13.2562		16.3232		13
		08		2016		12.5030		13.2562		16
		08		2015		13.1116		12.5030		19
		08		2014		14.5449		13.1116		993
		08		2013		10.5689		14.5449		0
		08		2012		10.0000		10.5689		0
MFS Total Return Bond Series, Service Class		01		2019		10.5707		11.4223		1,862,498
		01		2018		10.8988		10.5707		2,094,178
		01		2017		10.6412		10.8988		2,789,018
		01		2016		10.4078		10.6412		3,213,359
		01		2015		10.6496		10.4078		3,762,311
		01		2014		10.2574		10.6496		4,290,303
		01		2013		10.5710		10.2574		4,659,653
		01		2012		10.0460		10.5710		5,254,975
		01		2011		10.0000		10.0460		0

379

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		10.4155		11.2321		392,963
		02		2018		10.7605		10.4155		399,395
		02		2017		10.5272		10.7605		465,775
		02		2016		10.3174		10.5272		564,963
		02		2015		10.5786		10.3174		641,318
		02		2014		10.2098		10.5786		754,212
		02		2013		10.5434		10.2098		873,542
		02		2012		10.0403		10.5434		1,049,351
		02		2011		10.0000		10.0403		0
		03		2019		10.3770		11.1849		15,778
		03		2018		10.7261		10.3770		21,967
		03		2017		10.4988		10.7261		22,956
		03		2016		10.2948		10.4988		22,656
		03		2015		10.5609		10.2948		30,963
		03		2014		10.1979		10.5609		32,946
		03		2013		10.5365		10.1979		37,007
		03		2012		10.0388		10.5365		56,947
		03		2011		10.0000		10.0388		0
		04		2019		10.2621		11.0445		328,076
		04		2018		10.6235		10.2621		365,769
		04		2017		10.4142		10.6235		482,010
		04		2016		10.2274		10.4142		579,764
		04		2015		10.5078		10.2274		680,351
		04		2014		10.1622		10.5078		720,734
		04		2013		10.5157		10.1622		823,967
		04		2012		10.0345		10.5157		973,441
		04		2011		10.0000		10.0345		0
		05		2019		10.2240		10.9977		2,947
		05		2018		10.5896		10.2240		3,136
		05		2017		10.3863		10.5896		3,335
		05		2016		10.2052		10.3863		3,401
		05		2015		10.4904		10.2052		15,288
		05		2014		10.1504		10.4904		3,402
		05		2013		10.5089		10.1504		3,403
		05		2012		10.0331		10.5089		3,403
		05		2011		10.0000		10.0331		0
		06		2019		10.1110		10.8599		502
		06		2018		10.4882		10.1110		531
		06		2017		10.3023		10.4882		6,268
		06		2016		10.1382		10.3023		6,279
		06		2015		10.4375		10.1382		13,352
		06		2014		10.1149		10.4375		13,354
		06		2013		10.4882		10.1149		13,368
		06		2012		10.0288		10.4882		13,346
		06		2011		10.0000		10.0288		0

380

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		10.2745		10.8142		0
		07		2018		10.4546		10.2745		0
		07		2017		10.2745		10.4546		0
		07		2016		10.1160		10.2745		0
		07		2015		10.4200		10.1160		0
		07		2014		10.1031		10.4200		0
		07		2013		10.4813		10.1031		945
		07		2012		10.0274		10.4813		879
		07		2011		10.0000		10.0274		0
		08		2019		9.9244		10.6325		0
		08		2018		10.3209		9.9244		0
		08		2017		10.1637		10.3209		65
		08		2016		10.0275		10.1637		69
		08		2015		10.3500		10.0275		73
		08		2014		10.0558		10.3500		84
		08		2013		10.4537		10.0558		93
		08		2012		10.0216		10.4537		139
		08		2011		10.0000		10.0216		0
Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio, Class II		01		2019		24.5500		31.7282		17,001
		01		2018		23.2773		24.5500		16,187
		01		2017		16.5785		23.2773		28.122
		01		2016		17.1957		16.5785		16,861
		01		2015		15.6232		17.1957		17,748
		01		2014		14.9812		15.6232		18,030
		01		2013		10.3166		14.9812		4,174
		01		2012		9.2027		10.3166		33,462
		01		2011		10.0000		9.2027		0
		02		2019		24.1898		31.2001		8,482
		02		2018		22.9820		24.1898		8,640
		02		2017		16.4011		22.9820		10,722
		02		2016		17.0464		16.4011		17,618
		02		2015		15.5191		17.0464		18,295
		02		2014		14.9117		15.5191		20,619
		02		2013		10.2897		14.9117		3,703
		02		2012		9.1974		10.2897		2,695
		02		2011		10.0000		9.1974		0
		03		2019		24.1002		31.0690		0
		03		2018		22.9085		24.1002		0
		03		2017		16.3568		22.9085		0
		03		2016		17.0091		16.3568		0
		03		2015		15.4930		17.0091		0
		03		2014		14.8943		15.4930		0
		03		2013		10.2829		14.8943		0
		03		2012		9.1961		10.2829		0
		03		2011		10.0000		9.1961		0

381

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		23.8336		30.6790		11,514
		04		2018		22.6895		23.8336		12,974
		04		2017		16.2249		22.6895		6,851
		04		2016		16.8978		16.2249		5,677
		04		2015		15.4153		16.8978		5,612
		04		2014		14.8422		15.4153		10,417
		04		2013		10.2627		14.8422		0
		04		2012		9.1922		10.2627		0
		04		2011		10.0000		9.1922		0
		05		2019		24.7451		30.5491		0
		05		2018		22.6171		24.7451		0
		05		2017		16.1815		22.6171		0
		05		2016		16.8611		16.1815		0
		05		2015		15.3896		16.8611		0
		05		2014		14.8250		15.3896		0
		05		2013		10.2560		14.8250		0
		05		2012		9.1909		10.2560		0
		05		2011		10.0000		9.1909		0
		06		2019		23.4826		30.1664		0
		06		2018		22.4006		23.4826		0
		06		2017		16.0506		22.4006		0
		06		2016		16.7505		16.0506		0
		06		2015		15.3121		16.7505		0
		06		2014		14.7731		15.3121		0
		06		2013		10.2357		14.7731		0
		06		2012		9.1869		10.2357		0
		06		2011		10.0000		9.1869		0
		07		2019		23.3956		30.0396		0
		07		2018		22.3290		23.3956		0
		07		2017		16.0073		22.3290		0
		07		2016		16.7138		16.0073		0
		07		2015		15.2864		16.7138		0
		07		2014		14.7558		15.2864		0
		07		2013		10.2290		14.7558		0
		07		2012		9.1856		10.2290		0
		07		2011		10.0000		9.1856		0
		08		2019		23.0494		29.5349		0
		08		2018		22.0435		23.0494		0
		08		2017		15.8347		22.0435		0
		08		2016		16.5676		15.8347		0
		08		2015		15.1838		16.5676		0
		08		2014		14.6869		15.1838		0
		08		2013		10.2021		14.6869		0
		08		2012		9.1803		10.2021		0
		08		2011		10.0000		9.1803		0

382

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
Morgan Stanley Variable Insurance Fund, Inc. Discovery Portfolio, Class II		01		2019		20.3502		28.0005		48,811
		01		2018		18.7314		20.3502		41,223
		01		2017		13.7474		18.7314		47,586
		01		2016		15.3417		13.7474		30,344
		01		2015		16.6014		15.3417		35,755
		01		2014		16.5832		16.6014		41,154
		01		2013		12.2704		16.5832		46,072
		01		2012		11.5069		12.2704		52,469
		01		2011		12.6103		11.5069		78,139
		01		2010		9.6984		12.6103		81,316
		02		2019		19.9078		27.3369		4,483
		02		2018		18.3612		19.9078		4,697
		02		2017		13.5027		18.3612		4,239
		02		2016		15.0994		13.5027		4,059
		02		2015		16.3726		15.0994		4,850
		02		2014		16.3880		16.3726		18,577
		02		2013		12.1506		16.3880		17,908
		02		2012		11.4179		12.1506		23,286
		02		2011		12.5383		11.4179		27,861
		02		2010		9.6627		12.5383		24,623
		03		2019		19.7984		27.1730		0
		03		2018		18.2695		19.7984		0
		03		2017		13.4421		18.2695		0
		03		2016		15.0393		13.4421		0
		03		2015		16.3157		15.0393		0
		03		2014		16.3394		16.3157		0
		03		2013		12.1208		16.3394		7,346
		03		2012		11.3957		12.1208		8,051
		03		2011		12.5203		11.3957		9,497
		03		2010		9.6537		12.5203		10,115
		04		2019		19.4736		26.6870		5,410
		04		2018		17.9971		19.4736		8,170
		04		2017		13.2616		17.9971		7,058
		04		2016		14.8601		13.2616		19,117
		04		2015		16.1461		14.8601		21,132
		04		2014		16.1944		16.1461		19,973
		04		2013		12.0316		16.1944		12,391
		04		2012		11.3294		12.0316		24,024
		04		2011		12.4664		11.3294		25,605
		04		2010		9.6269		12.4664		20,481
		05		2019		19.3665		26.5264		0
		05		2018		17.9075		19.3665		0
		05		2017		13.2024		17.9075		0
		05		2016		14.8013		13.2024		0
		05		2015		16.0903		14.8013		0
		05		2014		16.1467		16.0903		0
		05		2013		12.0023		16.1467		0
		05		2012		11.3075		12.0023		0
		05		2011		12.4486		11.3075		0
		05		2010		9.6181		12.4486		0

383

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		19.0487		26.0523		0
		06		2018		17.6401		19.0487		0
		06		2017		13.0247		17.6401		0
		06		2016		14.6246		13.0247		0
		06		2015		15.9227		14.6246		0
		06		2014		16.0030		15.9227		0
		06		2013		11.9138		16.0030		0
		06		2012		11.2414		11.9138		0
		06		2011		12.3950		11.2414		747
		06		2010		9.5913		12.3950		0
		07		2019		18.9439		25.8959		0
		07		2018		17.5520		18.9439		0
		07		2017		12.9662		17.5520		0
		07		2016		14.5663		12.9662		0
		07		2015		15.8674		14.5663		0
		07		2014		15.9556		15.8674		0
		07		2013		11.8845		15.9556		0
		07		2012		11.2196		11.8845		0
		07		2011		12.3772		11.2196		0
		07		2010		9.5824		12.3772		0
		08		2019		18.5288		25.2770		0
		08		2018		17.2025		18.5288		0
		08		2017		12.7338		17.2025		0
		08		2016		14.3346		12.7338		0
		08		2015		15.6470		14.3346		0
		08		2014		15.7663		15.6470		0
		08		2013		11.7676		15.7663		0
		08		2012		11.1322		11.7676		0
		08		2011		12.3060		11.1322		0
		08		2010		9.5469		12.3060		0
Invesco Oppenheimer V.I. Capital Appreciation Fund, Series II		01		2019		22.8025		30.4512		20,049
		01		2018		24.6671		22.8025		23,805
		01		2017		19.8345		24.6671		42,454
		01		2016		20.6799		19.8345		55,223
		01		2015		20.3717		20.6799		74,781
		01		2014		18.0008		20.3717		116,741
		01		2013		14.1484		18.0008		112,269
		01		2012		12.6480		14.1484		105,988
		01		2011		13.0455		12.6480		107,471
		01		2010		12.1592		13.0455		138,982

384

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		22.0634		29.4053		22,491
		02		2018		23.9158		22.0634		27,141
		02		2017		19.2690		23.9158		28,028
		02		2016		20.1313		19.2690		36,937
		02		2015		19.8717		20.1313		45,206
		02		2014		17.5948		19.8717		44,116
		02		2013		13.8574		17.5948		58,780
		02		2012		12.4132		13.8574		79,305
		02		2011		12.8294		12.4132		94,176
		02		2010		11.9821		12.8294		103,856
		03		2019		21.8818		29.1485		3,275
		03		2018		23.7309		21.8818		5,068
		03		2017		19.1297		23.7309		5,358
		03		2016		19.9959		19.1297		6,214
		03		2015		19.7481		19.9959		7,430
		03		2014		17.4943		19.7481		8,306
		03		2013		13.7853		17.4943		9,592
		03		2012		12.3550		13.7853		6,233
		03		2011		12.7757		12.3550		6,485
		03		2010		11.9381		12.7757		8,156
		04		2019		21.3458		28.3917		9,130
		04		2018		23.1848		21.3458		10,623
		04		2017		18.7176		23.1848		11,917
		04		2016		19.5952		18.7176		14,123
		04		2015		19.3821		19.5952		10,798
		04		2014		17.1964		19.3821		14,152
		04		2013		13.5713		17.1964		15,028
		04		2012		12.1820		13.5713		24,193
		04		2011		12.6161		12.1820		25,908
		04		2010		11.8070		12.6161		44,423
		05		2019		21.1705		28.1438		30
		05		2018		23.0064		21.1705		36
		05		2017		18.5833		23.0064		41
		05		2016		19.4644		18.5833		52
		05		2015		19.2625		19.4644		55
		05		2014		17.0990		19.2625		62
		05		2013		13.5013		17.0990		74
		05		2012		12.1253		13.5013		0
		05		2011		12.5638		12.1253		0
		05		2010		11.7640		12.5638		0
		06		2019		20.6515		27.4130		1,408
		06		2018		22.4761		20.6515		1,519
		06		2017		18.1821		22.4761		1,527
		06		2016		19.0735		18.1821		1,705
		06		2015		18.9047		19.0735		1,594
		06		2014		16.8071		18.9047		2,518
		06		2013		13.2912		16.8071		2,723
		06		2012		11.9551		13.2912		3,000
		06		2011		12.4064		11.9551		3,228
		06		2010		11.6345		12.4064		5,872

385

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		19.4884		25.8561		0
		07		2018		21.2210		19.4884		0
		07		2017		17.1754		21.2210		0
		07		2016		18.0266		17.1754		38
		07		2015		17.8763		18.0266		43
		07		2014		15.9010		17.8763		53
		07		2013		12.5810		15.9010		2,271
		07		2012		11.3221		12.5810		10,749
		07		2011		11.7555		11.3221		11,698
		07		2010		11.0297		11.7555		19,808
		08		2019		18.8733		24.9892		0
		08		2018		20.5933		18.8733		0
		08		2017		16.7012		20.5933		0
		08		2016		17.5650		16.7012		0
		08		2015		17.4542		17.5650		0
		08		2014		15.5574		17.4542		0
		08		2013		12.3345		15.5574		0
		08		2012		11.1231		12.3345		103
		08		2011		11.5726		11.1231		114
		08		2010		10.8804		11.5726		121
Invesco Oppenheimer V.I. Conservative Balanced, Series II		01		2019		9.5081		11.2907		77,123
		01		2018		10.5523		9.5081		80.123
		01		2017		9.8523		10.5523		89,263
		01		2016		9.5488		9.8523		104,212
		01		2015		9.6551		9.5488		126,737
		01		2014		9.0969		9.6591		141,994
		01		2013		8.2016		9.0969		149,312
		01		2012		7.4432		8.2016		147,805
		01		2011		7.5427		7.4432		163,748
		01		2010		6.8097		7.5427		165,361
		02		2019		9.5657		11.0004		39,821
		02		2018		10.3223		9.5657		42,228
		02		2017		9.6569		10.3223		46,581
		02		2016		9.3786		9.6569		53,870
		02		2015		9.5063		9.3786		51,446
		02		2014		8.9712		9.5063		55,481
		02		2013		8.1048		8.9712		111,618
		02		2012		7.3704		8.1048		119,234
		02		2011		7.4841		7.3704		129,327
		02		2010		6.7706		7.4841		79,847
		03		2019		9.6085		10.9287		5,607
		03		2018		10.2654		9.6085		5,667
		03		2017		9.6085		10.2654		5,796
		03		2016		9.3363		9.6085		5,377
		03		2015		9.4683		9.3363		5,464
		03		2014		8.9399		9.4683		5,678
		03		2013		8.0806		8.9399		6,115
		03		2012		7.3522		8.0806		6,286
		03		2011		7.4694		7.3522		6,345
		03		2010		6.7608		7.4694		6,687

386

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		9.3377		10.7166		1,919
		04		2018		10.0966		9.3377		1,950
		04		2017		9.4648		10.0966		6,674
		04		2016		9.2108		9.4648		6,561
		04		2015		9.3553		9.2108		7,593
		04		2014		8.8468		9.3553		43,961
		04		2013		8.0087		8.8468		62,888
		04		2012		7.2980		8.0087		63,658
		04		2011		7.4257		7.2980		61,380
		04		2010		6.7315		7.4257		10,775
		05		2019		9.2815		10.6465		0
		05		2018		10.0412		9.2815		0
		05		2017		9.4177		10.0412		0
		05		2016		9.1696		9.4177		0
		05		2015		9.3182		9.1696		0
		05		2014		8.8162		9.3182		0
		05		2013		7.9851		8.8162		0
		05		2012		7.2801		7.9851		0
		05		2011		7.4113		7.2801		0
		05		2010		6.7219		7.4113		0
		06		2019		9.1149		10.4399		0
		06		2018		9.8758		9,1149		0
		06		2017		9.2765		9.8758		0
		06		2016		9.0460		9.2765		0
		06		2015		9.2067		9.0460		0
		06		2014		8.7241		9.2067		0
		06		2013		7.9138		8.7241		0
		06		2012		7.2263		7.9138		0
		06		2011		7.3678		7.2263		0
		06		2010		6.6927		7.3678		0
		07		2019		9.0601		10.3719		0
		07		2018		9.8214		9.0601		0
		07		2017		9.2300		9.8214		0
		07		2016		9.0053		9.2300		0
		07		2015		9.1700		9.0053		0
		07		2014		8.6937		9.1700		0
		07		2013		7.8903		8.6937		0
		07		2012		7.2085		7.8903		0
		07		2011		7.3534		7.2085		0
		07		2010		6.6830		7.3534		0
		08		2019		8.8431		10.1029		0
		08		2018		9,6057		8,8431		0
		08		2017		9.0457		9.6057		0
		08		2016		8.8436		9.0457		0
		08		2015		9.0238		8.8436		0
		08		2014		8.5727		9.0238		0
		08		2013		7.7964		8.5727		0
		08		2012		7.1375		7.7964		0
		08		2011		7.2959		7.1375		0
		08		2010		6.6443		7.2959		0

387

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
Invesco Oppenheimer V.I. Global Fund, Series II		01		2019		23.0800		29.8253		45,455
		01		2018		27.1117		23.0800		53,929
		01		2017		20.2304		27.1117		66,129
		01		2016		20.6127		20.2304		73,771
		01		2015		20.2263		20.6127		84,117
		01		2014		20.1615		20.2263		96,171
		01		2013		16.1508		20.1615		124,592
		01		2012		13.5852		16.1508		137,907
		01		2011		15.1080		13.5852		181,332
		01		2010		13.2832		15.1080		180,189
		02		2019		22.3834		28.8671		16,835
		02		2018		26.3464		22.3834		20,514
		02		2017		19.6989		26.3464		25,754
		02		2016		20.1120		19.6989		36,264
		02		2015		19.7752		20.1120		39,443
		02		2014		19.7521		19.7752		36,701
		02		2013		15.8550		19.7521		49,613
		02		2012		13.3638		15.8550		75,598
		02		2011		14.8920		13.3638		108,579
		02		2010		13.1199		14.8920		108,835
		03		2019		22.2120		28.6317		918
		03		2018		26.1579		22.2120		918
		03		2017		19.5678		26.1579		918
		03		2016		19.9883		19.5678		918
		03		2015		19.6637		19.9883		919
		03		2014		19.6508		19.6637		901
		03		2013		15.7817		19.6508		901
		03		2012		13.3088		15.7817		3,486
		03		2011		14.8384		13.3088		15,240
		03		2010		13.0793		14.8384		14,186
		04		2019		21.7055		27.9367		13,578
		04		2018		25.6003		21.7055		37,265
		04		2017		19.1795		25.6003		37,045
		04		2016		19.6218		19.1795		46,727
		04		2015		19.3327		19.6218		49,567
		04		2014		19.3497		19.3327		53,938
		04		2013		15.5637		19.3497		39,541
		04		2012		13.1452		15.5637		47,313
		04		2011		14.6784		13.1452		57,036
		04		2010		12.9582		14.6784		83,693
		05		2019		21.5396		27.7086		0
		05		2018		25.4179		21.5396		0
		05		2017		19.0527		25.4179		0
		05		2016		19.5020		19.0527		0
		05		2015		19.2245		19.5020		0
		05		2014		19.2511		19.2245		0
		05		2013		15.4923		19.2511		0
		05		2012		13.0915		15.4923		0
		05		2011		14.6259		13.0915		0
		05		2010		12.9183		14.6259		0

388

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		21.0480		27.0360		0
		06		2018		24.8752		21.0480		0
		06		2017		18.6738		24.8752		0
		06		2016		19.1435		18.6738		0
		06		2015		18.9001		19.1435		0
		06		2014		18.9553		18.9001		0
		06		2013		15.2777		18.9553		0
		06		2012		12.9302		15.2777		953
		06		2011		14.4678		12.9302		1,018
		06		2010		12.7984		14.4678		2,913
		07		2019		20.8867		26.8154		0
		07		2018		24.6971		20.8867		0
		07		2017		18.5494		24.6971		0
		07		2016		19.0258		18.5494		0
		07		2015		18.7935		19.0258		0
		07		2014		18.8581		18.7935		0
		07		2013		15.2071		18.8581		0
		07		2012		12.8770		15.2071		0
		07		2011		14.4157		12.8770		0
		07		2010		12.7588		14.4157		0
		08		2019		20.2514		25.9469		0
		08		2018		23.9949		20.2514		0
		08		2017		18.0587		23.9949		0
		08		2016		18.5604		18.0587		0
		08		2015		18.3714		18.5604		0
		08		2014		18.4724		18.3714		0
		08		2013		14.9267		18.4724		0
		08		2012		12.6657		14.9267		0
		08		2011		14.2082		12.6657		0
		08		2010		12.6009		14.2082		0
Invesco Oppenheimer V.I. Main Street Fund, Series II		01		2019		23.9376		31.0002		299,600
		01		2018		26.4985		23.9376		406,031
		01		2017		23.1100		26.4985		496,810
		01		2016		21.1230		23.1100		671,619
		01		2015		20.8408		21.1230		836,506
		01		2014		19.2038		20.8408		1,088,208
		01		2013		14.8630		19.2038		1,488,932
		01		2012		12.9675		14.8630		2,014,190
		01		2011		13.2329		12.9675		2,533,432
		01		2010		11.6222		13.2329		2,968,267
		02		2019		23.1617		29.9354		344,185
		02		2018		25.6914		23.1617		428,642
		02		2017		22.4511		25.6914		518,158
		02		2016		20.5626		22.4511		619,718
		02		2015		20.3292		20.5626		801,402
		02		2014		18.7706		20.3292		1,034,655
		02		2013		14.5573		18.7706		1,472,028
		02		2012		12.7268		14.5573		1,924,897
		02		2011		13.0137		12.7268		2,309,394
		02		2010		11.4530		13.0137		2,736,749

389

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		22.9710		29.6740		17,991
		03		2018		25.4928		22,9710		19,553
		03		2017		22.2887		25.4928		24,624
		03		2016		20.4243		22.2887		28,224
		03		2015		20.2028		20.4243		37,337
		03		2014		18.6634		20.2028		52,661
		03		2013		14.4816		18.6634		40,278
		03		2012		12.6671		14.4816		68,236
		03		2011		12.9593		12.6671		102,223
		03		2010		11.4109		12.9593		129,358
		04		2019		22.4084		28.9036		145,991
		04		2018		24.9062		22.4084		178,020
		04		2017		21.8087		24.9062		194,964
		04		2016		20.0151		21.8087		220,633
		04		2015		19.8284		20.0151		281,974
		04		2014		18.3457		19.8284		394,716
		04		2013		14.2568		18.3457		609,746
		04		2012		12.4897		14.2568		779,207
		04		2011		12.7974		12.4897		977,017
		04		2010		11.2857		12.7974		1,316,320
		05		2019		22.2243		28.6512		718
		05		2018		24.7145		22.2243		767
		05		2017		21.6521		24.7145		2,492
		05		2016		19.8814		21.6521		8,598
		05		2015		19.7060		19.8814		8,712
		05		2014		18.2417		19.7060		9,068
		05		2013		14.1832		18.2417		2,901
		05		2012		12.4316		14.1832		3,125
		05		2011		12.7442		12.4316		3,250
		05		2010		11.2445		12.7442		17,023
		06		2019		21.6796		27.9073		0
		06		2018		24.1449		21.6796		7,356
		06		2017		21.1847		24.1449		9,835
		06		2016		19.4822		21.1847		20,958
		06		2015		19.3400		19.4822		23,292
		06		2014		17.9304		19.3400		25,378
		06		2013		13.9626		17.9304		40,010
		06		2012		12.2571		13.9626		54,652
		06		2011		12.5847		12.2571		63,771
		06		2010		11.1207		12.5847		83,835
		07		2019		21.2737		27.3711		423
		07		2018		23.7049		21.2737		2,289
		07		2017		20.8092		23.7049		2,639
		07		2016		19.1466		20.8092		5,641
		07		2015		19.0165		19.1466		6,844
		07		2014		17.6395		19.0165		8,829
		07		2013		13.7431		17.6395		28,238
		07		2012		12.0706		13.7431		38,862
		07		2011		12.3995		12.0706		74,419
		07		2010		10.9628		12.3995		113,588

390

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		20.6022		26.4534		0
		08		2018		23.0037		20.6022		0
		08		2017		20.2346		23.0037		0
		08		2016		18.6562		20.2346		0
		08		2015		18.5675		18.6562		0
		08		2014		17.2584		18.5675		3,232
		08		2013		13.4738		17.2584		11,828
		08		2012		11.8585		13.4738		13,556
		08		2011		12.2065		11.8585		15,077
		08		2010		10.8143		12.2065		20,117
Invesco Oppenheimer V.I. Main Street Small Cap Fund, Series II		01		2019		33.6780		41.7591		4,623
		01		2018		38.2985		33.6780		6,376
		01		2017		34.2002		38.2985		7,631
		01		2016		29.5665		34.2002		9,045
		01		2015		32.0296		29.5665		11,165
		01		2014		29.1823		32.0296		14,424
		01		2013		21.1107		29.1823		18,949
		01		2012		18.2524		21.1107		26,931
		01		2011		19.0206		18.2524		34,047
		01		2010		15.7239		19.0206		74,213
		02		2019		32.5864		40.3246		2,856
		02		2018		37.1319		32.5864		3,995
		02		2017		33.2250		37.1319		7,224
		02		2016		28.7820		33.2250		7,565
		02		2015		31.2433		28.7820		8,031
		02		2014		28.5240		31.2433		11,500
		02		2013		20.6765		28.5240		17,721
		02		2012		17.9136		20.6765		28,341
		02		2011		18.7056		17.9136		35,698
		02		2010		15.4950		18.7056		47,845
		03		2019		32.3182		39.9726		6
		03		2018		36.8450		32.3182		6
		03		2017		32.9849		36.8450		6
		03		2016		28.5885		32.9849		7
		03		2015		31.0492		28.5885		76
		03		2014		28.3613		31.0492		169
		03		2013		20.5691		28.3613		245
		03		2012		17.8297		20.5691		917
		03		2011		18.6274		17.8297		989
		03		2010		15.4381		18.6274		1,564
		04		2019		31.5266		38.9348		13,173
		04		2018		35.9970		31.5266		15,282
		04		2017		32.2744		35.9970		15,192
		04		2016		28.0157		32.2744		15,298
		04		2015		30.4737		28.0157		16,424
		04		2014		27.8783		30.4737		15,678
		04		2013		20.2498		27.8783		22,748
		04		2012		17.5800		20.2498		30,166
		04		2011		18.3947		17.5800		30,198
		04		2010		15.2686		18.3947		66,090

391

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		31.2676		38.5949		0
		05		2018		35.7202		31.2676		0
		05		2017		32.0428		35.7202		0
		05		2016		27.8287		32.0428		0
		05		2015		30.2857		27.8287		0
		05		2014		27.7204		30.2857		0
		05		2013		20.1453		27.7204		0
		05		2012		17.4982		20.1453		0
		05		2011		18.3184		17.4982		0
		05		2010		15.2129		18.3184		0
		06		2019		30.5010		37.5926		0
		06		2018		34.8967		30.5010		0
		06		2017		31.3510		34.8967		0
		06		2016		27.2697		31.3510		0
		06		2015		29.7231		27.2697		0
		06		2014		27.2472		29.7231		0
		06		2013		19.8319		27.2472		0
		06		2012		17.2525		19.8319		0
		06		2011		18.0890		17.2525		96
		06		2010		15.0455		18.0890		1,237
		07		2019		28.7083		35.3652		0
		07		2018		32.8622		28.7083		0
		07		2017		29.5381		32.8622		0
		07		2016		25.7060		29.5381		0
		07		2015		28.0329		25.7060		0
		07		2014		25.7110		28.0329		0
		07		2013		18.7233		25.7110		0
		07		2012		16.2965		18.7233		0
		07		2011		17.0953		16.2965		0
		07		2010		14.2263		17.0953		0
		08		2019		27.8024		34.1796		0
		08		2018		31.8903		27.8023		0
		08		2017		28.7228		31.8903		0
		08		2016		25.0477		28.7228		0
		08		2015		27.3712		25.0477		0
		08		2014		25.1557		27.3712		0
		08		2013		18.3564		25.1557		0
		08		2012		16.0102		18.3564		0
		08		2011		16.8294		16.0102		0
		08		2010		14.0337		16.8294		0
PIMCO Emerging Markets Bond Portfolio, Administrative Class		01		2019		27.6783		31.2352		15,690
		01		2018		29.5577		27.6783		16,830
		01		2017		27.3595		29.5577		20,582
		01		2016		24.5556		27.3595		26,334
		01		2015		25.5544		24.5556		38,174
		01		2014		25.6062		25.5544		55,281
		01		2013		28.0003		25.6062		64,453
		01		2012		24.1611		28.0003		81,145
		01		2011		23.1143		24.1611		93,637
		01		2010		20.9628		23.1143		103,793

392

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		26.7812		30.1623		10,483
		02		2018		28.6574		26.7812		10,198
		02		2017		26.5794		28.6574		11,140
		02		2016		23.9041		26.5794		14,928
		02		2015		24.9271		23.9041		17,704
		02		2014		25.0287		24.9271		20,310
		02		2013		27.4246		25.0287		22,721
		02		2012		23.7128		27.4246		32,512
		02		2011		22.7315		23.7128		41,661
		02		2010		20.6577		22.7315		58,179
		03		2019		26.5608		29.8991		0
		03		2018		28.4359		26.5608		0
		03		2017		26.3873		28.4359		0
		03		2016		23.7435		26.3873		0
		03		2015		24.7722		23.7435		0
		03		2014		24.8858		24.7722		0
		03		2013		27.2820		24.8858		0
		03		2012		23.6016		27.2820		0
		03		2011		22.6365		23.6016		0
		03		2010		20.5818		22.6365		0
		04		2019		25.9104		29.1230		6,302
		04		2018		27.7816		25.9104		7,667
		04		2017		25.8191		27.7816		8,186
		04		2016		23.2678		25.8191		9,867
		04		2015		24.3132		23.2678		10,625
		04		2014		24.4622		24.3132		16,161
		04		2013		26.8588		24.4622		28,228
		04		2012		23.2713		26.8588		34,406
		04		2011		22.3539		23.2713		40,122
		04		2010		20.3560		22.3539		33,078
		05		2019		25.6975		28.8686		371
		05		2018		27.5679		25.6975		395
		05		2017		25.6337		27.5679		420
		05		2016		23.1125		25.6337		428
		05		2015		24.1632		23.1125		428
		05		2014		24.3236		24.1632		428
		05		2013		26.7201		24.3236		428
		05		2012		23.1630		26.7201		428
		05		2011		22.2611		23.1630		428
		05		2010		20.2818		22.2611		429
		06		2019		25.0676		28.1191		0
		06		2018		26.9325		25.0676		0
		06		2017		25.0804		26.9325		0
		06		2016		23.6483		25.0804		0
		06		2015		23.7144		22.6483		0
		06		2014		23.9085		23.7144		0
		06		2013		26.3046		23.9085		0
		06		2012		22.8380		26.3046		0
		06		2011		21.9824		22.8380		0
		06		2010		20.0587		21.9824		0

393

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		18.3465		20.5695		0
		07		2018		19.7214		18.3465		0
		07		2017		18.3744		19.7214		0
		07		2016		16.6011		18.3744		0
		07		2015		17.3914		16.6011		0
		07		2014		17.5428		17.3914		0
		07		2013		19.3107		17.5428		0
		07		2012		16.7745		19.3107		0
		07		2011		16.1542		16.7745		0
		07		2010		14.7481		16.1542		0
		08		2019		17.7675		19.8799		0
		08		2018		19.1381		17.7675		0
		08		2017		17.8672		19.1381		3
		08		2016		16.1760		17.8672		3
		08		2015		16.9809		16.1760		4
		08		2014		17.1638		16.9809		3
		08		2013		18.9324		17.1638		4
		08		2012		16.4798		18.9324		0
		08		2011		15.9030		16.4798		0
		08		2010		14.5485		15.9030		0
PIMCO StocksPLUS® Global Portfolio, Advisor Class		01		2019		12.7397		15.9711		149
		01		2018		14.5205		12.7397		220
		01		2017		12.0094		14.5205		261
		01		2016		11.3385		12.0094		385
		01		2015		12.6778		11.3385		442
		01		2014		12.7814		12.6778		442
		01		2013		10.9084		12.7814		0
		01		2012		10.1101		10.9084		0
		01		2011		10.0000		10.1101		0
		02		2019		12.5527		15.7052		0
		02		2018		14.3363		12.5527		0
		02		2017		11.8808		14.3363		0
		02		2016		11.2400		11.8808		0
		02		2015		12.5933		11.2400		0
		02		2014		12.7221		12.5933		0
		02		2013		10.8799		12.7221		1,409
		02		2012		10.1044		10.8799		0
		02		2011		10.0000		10.1044		0
		03		2019		12.5065		15.6392		0
		03		2018		14.2904		12.5063		0
		03		2017		11.8488		14.2904		0
		03		2016		11.2154		11.8488		0
		03		2015		12.5722		11.2154		0
		03		2014		12.7072		12.5722		0
		03		2013		10.8727		12.7072		0
		03		2012		10.1029		10.8727		0
		03		2011		10.0000		10.1029		0

394

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		12.3679		15.4428		0
		04		2018		14.1537		12.3679		0
		04		2017		11.7532		14.1537		0
		04		2016		11.1420		11.7532		0
		04		2015		12.5090		11.1420		0
		04		2014		12.6628		12.5090		799
		04		2013		10.8514		12.6628		0
		04		2012		10.0986		10.8514		0
		04		2011		10.0000		10.0986		0
		05		2019		12.3219		15.3774		0
		05		2018		14.1086		12.3219		0
		05		2017		11.7217		14.1086		0
		05		2016		11.1178		11.7217		0
		05		2015		12.4882		11.1178		0
		05		2014		12.6481		12.4882		0
		05		2013		10.8443		12.6481		0
		05		2012		10.0972		10.8443		0
		05		2011		10.0000		10.0972		0
		06		2019		12.1857		15.1847		0
		06		2018		13.9735		12.1857		0
		06		2017		11.6269		13.9735		0
		06		2016		11.0448		11.6269		0
		06		2015		12.4253		11.0448		0
		06		2014		12.6038		12.4253		0
		06		2013		10.8229		12.6038		0
		06		2012		10.0928		10.8229		0
		06		2011		10.0000		10.0928		0
		07		2019		12.1405		15.1208		0
		07		2018		13.9288		12.1405		0
		07		2017		11.5955		13.9288		0
		07		2016		11.0206		11.5955		0
		07		2015		12.4045		11.0206		0
		07		2014		12.5891		12.4045		0
		07		2013		10.8158		12.5891		0
		07		2012		10.0914		10.8158		0
		07		2011		10.0000		10.0914		0
		08		2019		11.9608		14.8668		0
		08		2018		13.7507		11.9608		0
		08		2017		11.4705		13.7507		0
		08		2016		10.9242		11.4705		0
		08		2015		12.3212		10.9242		0
		08		2014		12.5303		12.3212		0
		08		2013		10.7873		12.5303		0
		08		2012		10.0856		10.7873		0
		08		2011		10.0000		10.0856		0

395

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
PIMCO Global Managed Asset Allocation Portfolio, Advisor Class		01		2019		11.6822		13.4320		1,021,116
		01		2018		12.5914		11.6822		1,123,765
		01		2017		11.2357		12.5914		1,371,915
		01		2016		10.9989		11.2357		1,702,384
		01		2015		11.2181		10.9989		1,917,953
		01		2014		10.9133		11.2181		2,125,708
		01		2013		12.0555		10.9133		2,543,052
		01		2012		11.2757		12.0555		3,068,999
		01		2011		11.6805		11.2757		3,532,611
		01		2010		10.6721		11.6805		3,187,545
		02		2019		11.4619		13.1523		80,610
		02		2018		12.3788		11.4619		82,226
		02		2017		11.0682		12.3788		90,289
		02		2016		10.8570		11.0682		114,149
		02		2015		11.0960		10.8570		122,507
		02		2014		10.8165		11.0960		187,054
		02		2013		11.9730		10.8165		261,769
		02		2012		11.2215		11.9730		436,647
		02		2011		11.6479		11.2215		471,585
		02		2010		10.6640		11.6479		454,746
		03		2019		11.4072		13.0830		0
		03		2018		12.3260		11.4072		0
		03		2017		11.0266		12.3260		255
		03		2016		10.8216		11.0266		272
		03		2015		11.0655		10.8216		280
		03		2014		10.7923		11.0655		298
		03		2013		11.9523		10.7923		315
		03		2012		11.2079		11.9523		274
		03		2011		11.6397		11.2079		284
		03		2010		10.6620		11.6397		301
		04		2019		11.2449		12.8774		416,186
		04		2018		12.1691		11.2449		452,931
		04		2017		10.9026		12.1691		507,712
		04		2016		10.7164		10.9026		611,561
		04		2015		10.9747		10.7164		661,941
		04		2014		10.7202		10.9747		727,340
		04		2013		11.8907		10.7202		887,714
		04		2012		11.1673		11.8907		1,203,670
		04		2011		11.6153		11.1673		1,262,163
		04		2010		10.6559		11.6153		1,101,125
		05		2019		11.1913		12.8092		0
		05		2018		12.1174		11.1913		0
		05		2017		10.8619		12.1174		0
		05		2016		10.6818		10.8619		0
		05		2015		10.9448		10.6818		0
		05		2014		10.6964		10.9448		0
		05		2013		11.8703		10.6964		0
		05		2012		11.1538		11.8703		0
		05		2011		11.6072		11.1538		0
		05		2010		10.6539		11.6072		0

396

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		11.0321		12.6082		0
		06		2018		11.9629		11.0321		0
		06		2017		10.7395		11.9629		0
		06		2016		10.5777		10.7395		0
		06		2015		10.8548		10.5777		0
		06		2014		10.6247		10.8548		0
		06		2013		11.8089		10.6247		0
		06		2012		11.1133		11.8089		0
		06		2011		11.5828		11.1133		0
		06		2010		10.6478		11.5828		0
		07		2019		10.9795		12.5418		0
		07		2018		11.9119		10.9795		0
		07		2017		10.6991		11.9119		0
		07		2016		10.5433		10.6991		0
		07		2015		10.8251		10.5433		0
		07		2014		10.6010		10.8251		0
		07		2013		11.7886		10.6010		0
		07		2012		11.0999		11.7886		0
		07		2011		11.5747		11.0999		0
		07		2010		10.6458		11.5747		0
		08		2019		10.7706		12.2783		0
		08		2018		11.7093		10.7706		0
		08		2017		10.5384		11.7093		0
		08		2016		10.4063		10.5384		0
		08		2015		10.7063		10.4063		0
		08		2014		10.5063		10.7063		0
		08		2013		11.7073		10.5063		0
		08		2012		11.0460		11.7073		0
		08		2011		11.5421		11.0460		0
		08		2010		10.6377		11.5421		0
PIMCO Real Return Portfolio, Administrative Class		01		2019		15.0458		16.0399		163,597
		01		2018		15.6518		15.0458		181,689
		01		2017		15.3594		15.6518		240,656
		01		2016		14.8528		15.3594		290,195
		01		2015		15.5298		14.8528		369,253
		01		2014		15.3234		15.5298		488,902
		01		2013		17.1713		15.3234		622,320
		01		2012		16.0624		17.1713		646,363
		01		2011		14.6305		16.0624		717,381
		01		2010		13.7669		14.6305		843,854
		02		2019		14.5582		15.4890		153,297
		02		2018		15.1750		14.5582		164,953
		02		2017		14.9215		15.1750		202,959
		02		2016		14.4857		14.9215		210,903
		02		2015		15.1486		14.4857		247,596
		02		2014		14.9778		15.1486		317,892
		02		2013		16.8182		14.9778		401,444
		02		2012		15.7643		16.8182		414,440
		02		2011		14.3882		15.7643		497,016
		02		2010		13.5664		14.3882		640,194

397

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		14.4383		15.3537		2,130
		03		2018		15.0577		14.4383		3,782
		03		2017		14.8135		15.0577		4,091
		03		2016		14.3615		14.8135		4,899
		03		2015		15.0545		14.3615		5,074
		03		2014		14.8923		15.0545		8,347
		03		2013		16.7308		14.8923		8,890
		03		2012		15.6904		16.7308		8,169
		03		2011		14.3281		15.6904		19,186
		03		2010		13.5166		14.3281		35,456
		04		2019		14.0846		14.9551		52,973
		04		2018		14.7111		14.0846		55,634
		04		2017		14.4945		14.7111		60,165
		04		2016		14.0737		14.4945		68,316
		04		2015		14.7754		14.0737		94,579
		04		2014		14.6387		14.7754		109,333
		04		2013		16.4711		14.6387		127,878
		04		2012		15.4707		16.4711		165,282
		04		2011		14.1491		15.4707		188,491
		04		2010		13.3682		14.1491		285,779
		05		2019		13.9690		14.8245		529
		05		2018		14.5980		13.9690		563
		05		2017		14.3904		14.5980		599
		05		2016		13.9798		14.3904		611
		05		2015		14.6843		13.9798		611
		05		2014		14.5557		14.6843		610
		05		2013		16.3861		14.5557		611
		05		2012		15.3987		16.3861		611
		05		2011		14.0903		15.3987		611
		05		2010		13.3195		14.0903		2,710
		06		2019		13.6265		14.4396		0
		06		2018		14.2615		13.6265		0
		06		2017		14.0798		14.2615		0
		06		2016		13.6990		14.0798		14
		06		2015		14.4115		13.6990		7,506
		06		2014		14.3073		14.4115		7,527
		06		2013		16.1313		14.3073		10,787
		06		2012		15.1827		16.1313		17,711
		06		2011		13.9139		15.1827		18,536
		06		2010		13.1730		13.9139		29,496
		07		2019		12.3751		13.1068		0
		07		2018		12.9583		12.3751		0
		07		2017		12.7996		12.9583		0
		07		2016		12.4599		12.7996		0
		07		2015		13.1146		12.4599		0
		07		2014		13.0265		13.1146		0
		07		2013		14.6946		13.0265		11
		07		2012		13.8376		14.6946		2,947
		07		2011		12.6877		13.8376		4,335
		07		2010		12.0182		12.6877		4,978

398

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		11.9845		12.6674		0
		08		2018		12.5750		11.9845		0
		08		2017		12.4463		12.5750		0
		08		2016		12.1408		12.4463		0
		08		2015		12.8050		12.1408		0
		08		2014		12.7451		12.8050		0
		08		2013		14.4068		12.7451		0
		08		2012		13.5945		14.4068		0
		08		2011		12.4904		13.5945		0
		08		2010		11.8555		12.4904		0
PIMCO Total Return Portfolio, Administrative Class		01		2019		16.3113		17.3770		569,260
		01		2018		16.6825		16.3113		687,520
		01		2017		16.1740		16.6825		863,683
		01		2016		16.0238		16.1740		994,655
		01		2015		16.2277		16.0238		1,185,564
		01		2014		15.8304		16.2277		1,620,830
		01		2013		16.4264		15.8304		2,033,831
		01		2012		15.2476		16.4264		2,170,210
		01		2011		14.9699		15.2476		2,470,328
		01		2010		14.0854		14.9699		2,749,837
		02		2019		15.7826		16.7801		476,909
		02		2018		16.1744		15.7826		529,048
		02		2017		15.7129		16.1744		658,778
		02		2016		15.5987		15.7129		720,123
		02		2015		15.8294		15.5987		830,492
		02		2014		15.4734		15.8294		1,085,463
		02		2013		16.0886		15.4734		1,317,441
		02		2012		14.9647		16.0886		1,374,019
		02		2011		14.7220		14.9647		1,554,918
		02		2010		13.8804		14.7220		1,926,004
		03		2019		15.7826		16.6336		25,614
		03		2018		16.0493		15.7826		30,453
		03		2017		15.5992		16.0493		42,902
		03		2016		15.4938		15.5992		37,344
		03		2015		15.7310		15.4938		42,114
		03		2014		15.3850		15.7310		51,223
		03		2013		16.0049		15.3850		59,368
		03		2012		14.8945		16.0049		66,440
		03		2011		14.6604		14.8945		79,682
		03		2010		13.8294		14.6604		73,776
		04		2019		15.2693		16.2018		200,260
		04		2018		15.6800		15.2693		205,426
		04		2017		15.2633		15.6800		232,603
		04		2016		15.1834		15.2633		249,638
		04		2015		15.4395		15.1834		253,572
		04		2014		15.1231		15.4395		367,226
		04		2013		15.7566		15.1231		466,077
		04		2012		14.6861		15.7566		506,488
		04		2011		14.4774		14.6861		813,839
		04		2010		13.6777		14.4774		711,675

399

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		15.1439		16.0603		50
		05		2018		15.5594		15.1439		54
		05		2017		15.1537		15.5594		61
		05		2016		15.0820		15.1537		65
		05		2015		15.3442		15.0820		70
		05		2014		15.0374		15.3442		76
		05		2013		15.6753		15.0374		81
		05		2012		14.6177		15.6753		0
		05		2011		14.4172		14.6177		0
		05		2010		13.6278		14.4172		2,673
		06		2019		14.7726		15.6433		2,380
		06		2018		15.2007		14.7726		11,533
		06		2017		14.8265		15.2007		16,826
		06		2016		14.7791		14.8265		16,716
		06		2015		15.0592		14.7791		26,319
		06		2014		14.7807		15.0592		27,667
		06		2013		15.4314		14.7807		30,382
		06		2012		14.4125		15.4314		40,121
		06		2011		14.2367		14.4125		39,611
		06		2010		13.4778		14.2367		47,261
		07		2019		13.6794		14.4783		628
		07		2018		14.0829		13.6794		641
		07		2017		13.7432		14.0829		730
		07		2016		13.7062		13.7432		788
		07		2015		13.9731		13.7062		809
		07		2014		13.7218		13.9731		907
		07		2013		14.3331		13.7218		9,604
		07		2012		13.3936		14.3331		19,437
		07		2011		13.2370		13.3936		32,350
		07		2010		12.5378		13.2370		40,042
		08		2019		13.2477		13.9929		0
		08		2018		13.6664		13.2477		0
		08		2017		13.3638		13.6664		49
		08		2016		13.3552		13.3638		53
		08		2015		13.6432		13.3552		55
		08		2014		13.4253		13.6432		63
		08		2013		14.0523		13.4253		69
		08		2012		13.1583		14.0523		89
		08		2011		13.0311		13.1583		98
		08		2010		12.3681		13.0311		107
PIMCO All Asset Portfolio, Administrative Class		01		2019		13.9782		15.3758		72,394
		01		2018		15.0336		13.9782		87,359
		01		2017		13.4683		15.0336		112,616
		01		2016		12.1324		13.4683		106,030
		01		2015		13.5611		12.1324		110,554
		01		2014		13.7305		13.5611		173,721
		01		2013		13.9299		13.7305		278,539
		01		2012		12.3293		13.9299		122,509
		01		2011		12.3015		12.3293		57,136
		01		2010		11.0655		12.3015		58,604

400

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		13.6088		14.9396		10,605
		02		2018		14.6659		13.6088		12,591
		02		2017		13.1653		14.6659		9,893
		02		2016		11.8836		13.1653		11,210
		02		2015		13.3101		11.8836		23,365
		02		2014		13.5039		13.3101		24,137
		02		2013		13.7279		13.5039		45,467
		02		2012		12.1754		13.7279		42,855
		02		2011		12.1726		12.1754		30,981
		02		2010		10.9719		12.1726		30,209
		03		2019		13.5177		14.8321		0
		03		2018		14.5751		13.5177		0
		03		2017		13.0904		14.5751		0
		03		2016		11.8220		13.0904		462
		03		2015		13.2478		11.8220		0
		03		2014		13.4476		13.2478		0
		03		2013		13.6777		13.4476		543
		03		2012		12.1371		13.6777		570
		03		2011		12.1405		12.1371		0
		03		2010		10.9486		12.1405		0
		04		2019		13.2480		14.5143		21,838
		04		2018		14.3059		13.2480		29,098
		04		2017		12.8681		14.3059		19,226
		04		2016		11.6391		12.8681		15,252
		04		2015		13.0629		11.6391		11,706
		04		2014		13.2802		13.0629		17,809
		04		2013		13.5282		13.2802		25,365
		04		2012		12.0229		13.5282		41,366
		04		2011		12.0447		12.0229		29,205
		04		2010		10.8788		12.0447		42,360
		05		2019		13.1594		14.4097		0
		05		2018		14.2177		13.1594		0
		05		2017		12.7953		14.2177		0
		05		2016		11.5792		12.7953		0
		05		2015		13.0022		11.5792		0
		05		2014		13.2253		13.0022		1,690
		05		2013		13.4790		13.2253		1,642
		05		2012		11.9853		13.4790		1,625
		05		2011		12.0131		11.9853		1,698
		05		2010		10.8558		12.0131		0
		06		2019		12.8967		14.1010		0
		06		2018		13.9548		12.8967		0
		06		2017		12.5775		13.9548		0
		06		2016		11.3996		12.5775		0
		06		2015		12.8202		11.3996		0
		06		2014		13.0602		12.8202		0
		06		2013		13.3313		13.0602		0
		06		2012		11.8723		13.3313		0
		06		2011		11.9181		11.8723		0
		06		2010		10.7864		11.9181		0

401

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		07		2019		12.8104		13.9995		0
		07		2018		13.8684		12.8104		0
		07		2017		12.5059		13.8684		0
		07		2016		11.3405		12.5059		0
		07		2015		12.7603		11.3405		0
		07		2014		13.0058		12.7603		0
		07		2013		13.2825		13.0058		0
		07		2012		11.8349		13.2825		0
		07		2011		11.8866		11.8349		0
		07		2010		10.7635		11.8866		0
		08		2019		12.4692		13.5990		0
		08		2018		12.5266		12.4692		0
		08		2017		12.2225		12.5266		0
		08		2016		11.1062		12.2225		0
		08		2015		12.5224		11.1062		0
		08		2014		12.7896		12.5224		0
		08		2013		13.0885		12.7896		0
		08		2012		11.6861		13.0885		28
		08		2011		11.7613		11.6861		0
		08		2010		10.6718		11.7613		0
PIMCO CommodityRealReturn Strategy Portfolio, Administrative Class		01		2019		4.9576		5.4307		312,870
		01		2018		5.8737		4.9576		340,921
		01		2017		5.8489		5.8737		429,042
		01		2016		5.1670		5.8489		491,966
		01		2015		7.0752		5.1670		678,092
		01		2014		8.8234		7.0752		646,985
		01		2013		10.5229		8.8234		637,103
		01		2012		10.1582		10.5229		584,959
		01		2011		11.1784		10.1582		635,042
		01		2010		9.1319		11.1784		649,714
		02		2019		4.8265		5.2765		176,671
		02		2018		5.7300		4.8265		199,110
		02		2017		5.7173		5.7300		247,152
		02		2016		5.0610		5.7173		263,735
		02		2015		6.9442		5.0610		342,491
		02		2014		8.6777		6.9442		338,087
		02		2013		10.3703		8.6777		364,435
		02		2012		10.0314		10.3703		312,589
		02		2011		11.0612		10.0314		353,094
		02		2010		9.0546		11.0612		378,659
		03		2019		4.7942		5.2385		3,946
		03		2018		5.6945		4.7942		3,820
		03		2017		5.6847		5.6945		4,321
		03		2016		5.0347		5.6847		5,442
		03		2015		6.9117		5.0347		6,467
		03		2014		8.6415		6.9117		5,763
		03		2013		10.3323		8.6415		5,418
		03		2012		9.9998		10.3323		4,279
		03		2011		11.0320		9.9998		12,640
		03		2010		9.0353		11.0320		18,862

402

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		4.6985		5.1262		81,374
		04		2018		5.5893		4.6985		79,032
		04		2017		5.5881		5.5893		92,189
		04		2016		4.9568		5.5881		88,031
		04		2015		6.8152		4.9568		119,448
		04		2014		8.5339		6.8152		108,559
		04		2013		10.2193		8.5339		103,368
		04		2012		9.9057		10.2193		105,829
		04		2011		10.9449		9.9057		110,011
		04		2010		8.9777		10.9449		123,323
		05		2019		4.6670		5.0892		0
		05		2018		5.5548		4.6670		0
		05		2017		5.5565		5.5548		0
		05		2016		4.9313		5.5565		0
		05		2015		6.7835		4.9313		0
		05		2014		8.4986		6.7835		0
		05		2013		10.1822		8.4986		0
		05		2012		9.8747		10.1822		0
		05		2011		10.9162		9.8747		0
		05		2010		8.9587		10.9162		660
		06		2019		4.5738		4.9802		0
		06		2018		5.4520		4.5738		0
		06		2017		5.4619		5.4520		0
		06		2016		4.8547		5.4619		49
		06		2015		6.6886		4.8547		126
		06		2014		8.3925		6.6886		145
		06		2013		10.0705		8.3925		165
		06		2012		9.7816		10.0705		153
		06		2011		10.8298		9.7816		184
		06		2010		8.9015		10.8298		3,783
		07		2019		4.5432		4.9443		617
		07		2018		5.4182		4.5432		619
		07		2017		5.4308		5.4182		659
		07		2016		4.8295		5.4308		623
		07		2015		6.6573		4.8295		726
		07		2014		8.3575		6.6573		563
		07		2013		10.0337		8.3575		508
		07		2012		9.7508		10.0337		1,614
		07		2011		10.8012		9.7508		3,664
		07		2010		8.8825		10.8012		3,428
		08		2019		4.4221		4.8028		0
		08		2018		5.2847		4.4221		0
		08		2017		5.3077		5.2847		0
		08		2016		4.7298		5.3077		0
		08		2015		6.5331		4.7298		0
		08		2014		8.2185		6.5331		0
		08		2013		9.8871		8.2185		0
		08		2012		9.6282		9.8871		0
		08		2011		10.6873		9.6282		0
		08		2010		8.8068		10.6873		0

403

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
Putnam VT Multi Asset Absolute Return Fund, Class IB		01		2019		9.9156		10.3239		128,754
		01		2018		10.9455		9.9156		130,446
		01		2017		10.4075		10.9455		131,359
		01		2016		10.5140		10.4075		81,511
		01		2015		10.7538		10.5140		99,865
		01		2014		10.5334		10.7538		86,276
		01		2013		10.2954		10.5334		53,610
		01		2012		10.0357		10.2954		1,976
		01		2011		10.0000		10.0357		0
		02		2019		9.7700		10.1520		10,282
		02		2018		10.8066		9.7700		10,864
		02		2017		10.2961		10.8066		11,176
		02		2016		10.4226		10.2961		25,452
		02		2015		10.6820		10.4226		28,729
		02		2014		10.4845		10.6820		15,221
		02		2013		10.2685		10.4845		8,677
		02		2012		10.0300		10.2685		139
		02		2011		10.0000		10.0300		0
		03		2019		9.7339		10.1093		0
		03		2018		10.7721		9.7339		0
		03		2017		10.2683		10.7721		0
		03		2016		10.3999		10.2683		0
		03		2015		10.6641		10.3999		0
		03		2014		10.4723		10.6641		0
		03		2013		10.2617		10.4723		0
		03		2012		10.0286		10.2617		0
		03		2011		10.0000		10.0286		0
		04		2019		9.6262		9.9824		27,756
		04		2018		10.6690		9.6262		27,798
		04		2017		10.1855		10.6690		27,927
		04		2016		10.3318		10.1855		32,868
		04		2015		10.6106		10.3318		32,453
		04		2014		10.4357		10.6106		38,895
		04		2013		10.2415		10.4357		70,112
		04		2012		10.0243		10.2415		32,327
		04		2011		10.0000		10.0243		0
		05		2019		9.5904		9.9401		0
		05		2018		10.6350		9.5904		0
		05		2017		10.1582		10.6350		0
		05		2016		10.3093		10.1582		0
		05		2015		10.5929		10.3093		0
		05		2014		10.4236		10.5929		0
		05		2013		10.2349		10.4236		0
		05		2012		10.0228		10.2349		0
		05		2011		10.0000		10.0228		0

404

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		9.4844		9.8156		0
		06		2018		10.5332		9.4844		0
		06		2017		10.0760		10.5332		0
		06		2016		10.2417		10.0760		0
		06		2015		10.5396		10.2417		0
		06		2014		10.3870		10.5396		0
		06		2013		10.2147		10.3870		0
		06		2012		10.0185		10.2147		0
		06		2011		10.0000		10.0185		0
		07		2019		9.4492		9.7743		0
		07		2018		10.4995		9.4492		0
		07		2017		10.0489		10.4995		0
		07		2016		10.2193		10.0489		0
		07		2015		10.5219		10.2193		0
		07		2014		10.3749		10.5219		0
		07		2013		10.2080		10.3749		0
		07		2012		10.0171		10.2080		0
		07		2011		10.0000		10.0171		0
		08		2019		9.3093		9.6100		0
		08		2018		10.3652		9.3093		0
		08		2017		9.9405		10.3652		0
		08		2016		10.1298		9.9405		0
		08		2015		10.4512		10.1298		0
		08		2014		10.3264		10.4512		0
		08		2013		10.1811		10.3264		0
		08		2012		10.0114		10.1811		0
		08		2011		10.0000		10.0114		0
Putnam VT Equity Income Fund, Class IB		01		2019		20.2570		25.9682		28,827
		01		2018		22.5201		20.2570		34,558
		01		2017		19.2869		22.5201		42,837
		01		2016		17.2648		19.2869		55,021
		01		2015		18.1145		17.2648		62,718
		01		2014		16.3568		18.1145		63,936
		01		2013		12.5662		16.3568		27,632
		01		2012		10.7159		12.5662		2,406
		01		2011		10.0000		10.7159		0
		02		2019		19.9597		25.5360		13,685
		02		2018		22.2344		19.9597		14,497
		02		2017		19.0804		22.2344		17,877
		02		2016		17.1148		19.0804		21,165
		02		2015		17.9937		17.1148		33,269
		02		2014		16.2809		17.9937		22,214
		02		2013		12.5333		16.2809		1,520
		02		2012		10.7098		12.5333		0
		02		2011		10.0000		10.7098		0
		03		2019		19.8859		25.4287		0
		03		2018		22.1633		19.8859		0
		03		2017		19.0290		22.1633		0
		03		2016		17.0774		19.0290		3,575
		03		2015		17.9636		17.0774		0
		03		2014		16.2620		17.9636		0
		03		2013		12.5251		16.2620		0
		03		2012		10.7083		12.5251		0
		03		2011		10.0000		10.7083		0

405

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		04		2019		19.6658		25.1094		3,766
		04		2018		21.9513		19.6658		5,727
		04		2017		18.8755		21.9513		5,254
		04		2016		16.9656		18.8755		15,167
		04		2015		17.8734		16.9656		22,447
		04		2014		16.2051		17.8734		24,461
		04		2013		12.5004		16.2051		0
		04		2012		10.7037		12.5004		0
		04		2011		10.0000		10.7037		0
		05		2019		19.5928		25.0031		0
		05		2018		21.8813		19.5928		0
		05		2017		18.8250		21.8813		0
		05		2016		16.9288		18.8250		0
		05		2015		17.8436		16.9288		2,158
		05		2014		16.1864		17.8436		0
		05		2013		12.4923		16.1864		0
		05		2012		10.7021		12.4923		0
		05		2011		10.0000		10.7021		0
		06		2019		19.3762		24.6899		0
		06		2018		21.6719		19.3762		0
		06		2017		18.6727		21.6719		0
		06		2016		16.8177		18.6727		0
		06		2015		17.7538		16.8177		0
		06		2014		16.1296		17.7538		0
		06		2013		12.4677		16.1296		0
		06		2012		10.6975		12.4677		0
		06		2011		10.0000		10.6975		0
		07		2019		19.3044		24.5861		0
		07		2018		21.6025		19.3044		0
		07		2017		18.6224		21.6025		0
		07		2016		16.7809		18.6224		0
		07		2015		17.7240		16.7809		0
		07		2014		16.1108		17.7240		0
		07		2013		12.4595		16.1108		0
		07		2012		10.6960		12.4595		0
		07		2011		10.0000		10.6960		0
		08		2019		19.0187		24.1730		0
		08		2018		21.3263		19.0187		0
		08		2017		18.4216		21.3263		10
		08		2016		16.6341		18.4216		12
		08		2015		17.6051		16.6341		14
		08		2014		16.0355		17.6051		15
		08		2013		12.4267		16.0355		18
		08		2012		10.6899		12.4267		0
		08		2011		10.0000		10.6899		0

406

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
Templeton Developing Markets VIP Fund, Class 2		01		2019		13.6952		17.0572		74,476
		01		2018		16.5464		13.6952		105,384
		01		2017		11.9871		16.5464		115,764
		01		2016		10.3833		11.9871		172,687
		01		2015		13.1385		10.3833		237,038
		01		2014		14.5901		13.1385		256,052
		01		2013		14.9806		14.5901		310,094
		01		2012		13.4682		14.9806		299,611
		01		2011		16.2827		13.4682		340,747
		01		2010		14.0866		16.2827		367,302
		02		2019		13.3333		16.5732		90,570
		02		2018		16.1417		13.3333		119,546
		02		2017		11.7174		16.1417		122,957
		02		2016		10.1703		11.7174		177,923
		02		2015		12.8953		10.1703		224,713
		02		2014		14.3492		12.8953		225,132
		02		2013		14.7633		14.3492		259,221
		02		2012		13.3001		14.7633		247,124
		02		2011		16.1122		13.3001		266,822
		02		2010		13.9675		16.1122		289,906
		03		2019		13.2439		16.4539		3,327
		03		2018		16.0416		13.2439		3,816
		03		2017		11.6506		16.0416		3,817
		03		2016		10.1175		11.6506		4,702
		03		2015		12.8350		10.1175		5,340
		03		2014		14.2894		12.8350		4,629
		03		2013		14.7092		14.2894		4,601
		03		2012		13.2582		14.7092		4,231
		03		2011		16.0696		13.2582		4,701
		03		2010		13.9377		16.0696		4,822
		04		2019		12.9797		16.1013		21,963
		04		2018		15.7455		12.9797		23,405
		04		2017		11.4527		15.7455		22,326
		04		2016		9.9610		11.4527		32,445
		04		2015		12.6557		9.9610		40,101
		04		2014		14.1115		12.6557		46,176
		04		2013		14.5484		14.1115		54,715
		04		2012		13.1335		14.5484		58,523
		04		2011		15.9428		13.1335		69,437
		04		2010		13.8489		15.9428		89,616
		05		2019		12.8929		15.9852		0
		05		2018		15.6483		12.8929		0
		05		2017		11.3880		15.6483		0
		05		2016		9.9096		11.3880		0
		05		2015		12.5970		9.9096		0
		05		2014		14.0531		12.5970		0
		05		2013		14.4955		14.0531		0
		05		2012		13.0924		14.4955		0
		05		2011		15.9010		13.0924		0
		05		2010		13.8196		15.9010		1,362

407

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		12.6354		16.6428		0
		06		2018		15.3589		12.6354		0
		06		2017		11.1941		15.3589		0
		06		2016		9.7559		11.1941		0
		06		2015		12.4206		9.7559		1,311
		06		2014		13.8777		12.4206		1,311
		06		2013		14.3366		13.8777		1,311
		06		2012		12.9689		14.3366		1,311
		06		2011		15.7752		12.9689		1,311
		06		2010		13.7313		15.7752		1,311
		07		2019		12.5508		15.5301		0
		07		2018		15.2638		12.5508		0
		07		2017		11.1303		15.2638		0
		07		2016		9.7053		11.1303		0
		07		2015		12.3625		9.7053		0
		07		2014		13.8198		12.3625		0
		07		2013		14.2841		13.8198		0
		07		2012		12.9281		14.2841		0
		07		2011		15.7336		12.9281		0
		07		2010		13.7021		15.7336		0
		08		2019		12.2164		15.0857		0
		08		2018		14.8876		12.2164		0
		08		2017		10.8780		14.8876		0
		08		2016		9.5048		10.8780		0
		08		2015		12.1320		9.5048		0
		08		2014		13.5900		12.1320		0
		08		2013		14.0755		13.5900		0
		08		2012		12.7655		14.0755		0
		08		2011		15.5676		12.7655		0
		08		2010		13.5853		15.5676		0
Templeton Foreign VIP Fund, Class 2		01		2019		18.5653		20.5371		213,661
		01		2018		22.3366		18.5653		245,648
		01		2017		19.4707		22.3366		256,150
		01		2016		18.4813		19.4707		345,566
		01		2015		20.1064		18.4813		419,974
		01		2014		23.0164		20.1064		491,318
		01		2013		19.0405		23.0164		536,725
		01		2012		16.3841		19.0405		714,734
		01		2011		18.6504		16.3841		941,170
		01		2010		17.5014		18.6504		1,058,410
		02		2019		17.9635		19.8316		273,544
		02		2018		21.6563		17.9635		303,987
		02		2017		18.9156		21.6563		337,769
		02		2016		17.9910		18.9156		398,074
		02		2015		19.6129		17.9910		494,401
		02		2014		22.4972		19.6129		572,556
		02		2013		18.6489		22.4972		682,514
		02		2012		16.0800		18.6489		855,267
		02		2011		18.3416		16.0800		1,028,881
		02		2010		17.2466		18.3416		1,135,639

408

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		17.8156		19.6585		25,015
		03		2018		21.4889		17.8156		22,887
		03		2017		18.7788		21.4889		25,477
		03		2016		17.8700		18.7788		27,535
		03		2015		19.4910		17.8700		35,717
		03		2014		22.3688		19.4910		38,721
		03		2013		18.5520		22.3688		29,142
		03		2012		16.0046		18.5520		40,461
		03		2011		18.2649		16.0046		61,783
		03		2010		17.1833		18.2649		75,780
		04		2019		17.3792		19.1480		137,909
		04		2018		20.9942		17.3792		151,103
		04		2017		18.3742		20.9942		151,245
		04		2016		17.5119		18.3742		168,245
		04		2015		19.1297		17.5119		214,283
		04		2014		21.9879		19.1297		239,993
		04		2013		18.2640		21.9879		322,230
		04		2012		15.7805		18.2640		407,053
		04		2011		18.0368		15.7805		511,881
		04		2010		16.9947		18.0368		595,597
		05		2019		17.2364		18.9808		953
		05		2018		20.8328		17.2364		904
		05		2017		18.2423		20.8328		2,617
		05		2016		17.3950		18.2423		8,600
		05		2015		19.0117		17.3950		8,518
		05		2014		21.8634		19.0117		7,991
		05		2013		18.1697		21.8634		2,109
		05		2012		15.7071		18.1697		2,081
		05		2011		17.9619		15.7071		2,141
		05		2010		16.9327		17.9619		9,720
		06		2019		16.8138		18.4879		2,095
		06		2018		20.3525		16.8138		10,444
		06		2017		17.8485		20.3525		11,932
		06		2016		17.0456		17.8485		22,908
		06		2015		18.6585		17.0456		24,383
		06		2014		21.4902		18.6585		24,571
		06		2013		17.8871		21.4902		30,401
		06		2012		15.4866		17.8871		39,735
		06		2011		17.7370		15.4866		45,598
		06		2010		16.7464		17.7370		52,492
		07		2019		16.4090		18.0336		551
		07		2018		19.8725		16.4090		2,641
		07		2017		17.4363		19.8725		2,743
		07		2016		16.6605		17.4363		5,736
		07		2015		18.2463		16.6605		6,692
		07		2014		21.0262		18.2463		7,755
		07		2013		17.5098		21.0262		20,821
		07		2012		15.1678		17.5098		30,775
		07		2011		17.3807		15.1678		54,518
		07		2010		16.4184		17.3807		78,863

409

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		15.8910		17.4290		0
		08		2018		19.2847		15.8910		0
		08		2017		16.9549		19.2847		0
		08		2016		16.2338		16.9549		0
		08		2015		17.8155		16.2338		0
		08		2014		20.5720		17.8155		2,526
		08		2013		17.1667		20.5720		8,309
		08		2012		14.9013		17.1667		8,847
		08		2011		17.1104		14.9013		9,692
		08		2010		16.1962		17.1104		12,034
Templeton Global Bond VIP Fund, Class 4		01		2019		10.5086		10.5222		19,211
		01		2018		10.4919		10.5086		18,984
		01		2017		10.4878		10.4919		14,697
		01		2016		10.3715		10.4878		41,568
		01		2015		11.0354		10.3715		51,720
		01		2014		11.0393		11.0354		54,537
		01		2013		11.0604		11.0393		62,694
		01		2012		9.7876		11.0604		20,220
		01		2011		10.0000		9.7876		514
		02		2019		10.3543		10.3470		9,209
		02		2018		10.3587		10.3543		7,858
		02		2017		10.3755		10.3587		8,112
		02		2016		10.2814		10.3755		7,917
		02		2015		10.9618		10.2814		7,874
		02		2014		10.9880		10.9618		10,204
		02		2013		11.0314		10.9880		13,740
		02		2012		9.7820		11.0314		2,612
		02		2011		10.0000		9.7820		0
		03		2019		10.3160		10.3035		2,521
		03		2018		10.3256		10.3160		2,521
		03		2017		10.3475		10.3256		2,521
		03		2016		10.2589		10.3475		2,521
		03		2015		10.9434		10.2589		2,521
		03		2014		10.9752		10.9434		2,520
		03		2013		11.0242		10.9752		2,520
		03		2012		9.7806		11.0242		0
		03		2011		10.0000		9.7806		0
		04		2019		10.2018		10.1741		3,846
		04		2018		10.2268		10.2018		788
		04		2017		10.2640		10.2268		788
		04		2016		10.1917		10.2640		7,150
		04		2015		10.8885		10.1917		7,163
		04		2014		10.9368		10.8885		12,708
		04		2013		11.0025		10.9368		11,549
		04		2012		9.7764		11.0025		5,191
		04		2011		10.0000		9.7764		0

410

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		10.1639		10.1310		0
		05		2018		10.1942		10.1639		0
		05		2017		10.2365		10.1942		0
		05		2016		10.1696		10.2365		0
		05		2015		10.8703		10.1696		3,643
		05		2014		10.9242		10.8703		0
		05		2013		10.9954		10.9242		0
		05		2012		9.7751		10.9954		0
		05		2011		10.0000		9.7751		0
		06		2019		10.0516		10.0041		0
		06		2018		10.0966		10.0516		0
		06		2017		10.1537		10.0966		0
		06		2016		10.1028		10.1537		0
		06		2015		10.8156		10.1028		0
		06		2014		10.8859		10.8156		0
		06		2013		10.9737		10.8859		0
		06		2012		9.7708		10.9737		0
		06		2011		10.0000		9.7708		0
		07		2019		10.0143		9.9620		0
		07		2018		10.0643		10.0143		0
		07		2017		10.1263		10.0643		0
		07		2016		10.0807		10.1263		0
		07		2015		10.7975		10.0807		0
		07		2014		10.8732		10.7975		0
		07		2013		10.9665		10.8732		0
		07		2012		9.7695		10.9665		0
		07		2011		10.0000		9.7695		0
		08		2019		9.8660		9.7946		0
		08		2018		9.9335		9.8660		0
		08		2017		10.0171		9.9355		5
		08		2016		9.9925		10.0171		5
		08		2015		10.7249		9.9925		6
		08		2014		10.8223		10.7249		6
		08		2013		10.9376		10.8223		6
		08		2012		9.7639		10.9376		0
		08		2011		10.0000		9.7639		0
Templeton Growth VIP Fund, Class 2		01		2019		19.0443		21.5586		47,865
		01		2018		22.7536		19.0443		56,365
		01		2017		19.5316		22.7536		72,472
		01		2016		18.1257		19.5316		98,840
		01		2015		19.7183		18.1257		115,125
		01		2014		20.6405		19.7183		134,459
		01		2013		16.0504		20.6405		152,070
		01		2012		13.4878		16.0504		188,062
		01		2011		14.7495		13.4878		218,142
		01		2010		13.9713		14.7495		239,781

411

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		02		2019		18.4271		20.8181		18,499
		02		2018		22.0605		18.4271		20,307
		02		2017		18.9747		22.0605		23,104
		02		2016		17.6448		18.9747		30,763
		02		2015		19.2343		17.6448		39,856
		02		2014		20.1749		19.2343		48,906
		02		2013		15.7203		20.1749		60,011
		02		2012		13.2375		15.7203		75,836
		02		2011		14.5053		13.2375		90,991
		02		2010		13.7680		14.5053		111,662
		03		2019		18.2753		20.6363		370
		03		2018		21.8899		18.2753		370
		03		2017		18.8374		21.8899		370
		03		2016		17.5261		18.8374		371
		03		2015		19.1147		17.5261		426
		03		2014		20.0597		19.1147		9,406
		03		2013		15.6385		20.0597		9,617
		03		2012		13.1754		15.6385		11,187
		03		2011		14.4446		13.1754		11,472
		03		2010		13.7174		14.4446		12,229
		04		2019		17.8276		20.1004		8,978
		04		2018		21.3862		17.8276		10,030
		04		2017		18.4317		21.3862		10,874
		04		2016		17.1749		18.4317		17,909
		04		2015		18.7604		17.1749		21,850
		04		2014		19.7181		18.7604		24,601
		04		2013		15.3958		19.7181		46,254
		04		2012		12.9909		15.3958		55,717
		04		2011		14.2642		12.9909		54,834
		04		2010		13.5668		14.2642		75,640
		05		2019		17.6813		19.9250		0
		05		2018		21.2217		17.6813		0
		05		2017		18.2994		21.2217		0
		05		2016		17.0603		18.2994		0
		05		2015		18.6447		17.0603		0
		05		2014		19.6064		18.6447		0
		05		2013		15.3163		19.6064		0
		05		2012		12.9305		15.3163		0
		05		2011		14.2050		12.9305		0
		05		2010		13.5173		14.2050		0

412

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		06		2019		17.2477		19.4075		0
		06		2018		20.7324		17.2477		0
		06		2017		17.9043		20.7324		0
		06		2016		16.7176		17.9043		0
		06		2015		18.2963		16.7176		0
		06		2014		19.2718		18.2983		0
		06		2013		15.0780		19.2718		0
		06		2012		12.7490		15.0780		0
		06		2011		14.0271		12.7490		0
		06		2010		13.3686		14.0271		1,588
		07		2019		16.5595		18.6237		0
		07		2018		19.9153		16.5595		0
		07		2017		17.2073		19.9153		0
		07		2016		16.0750		17.2073		0
		07		2015		17.6039		16.0750		0
		07		2014		18.5499		17.6039		0
		07		2013		14.5207		18.5499		0
		07		2012		12.2840		14.5207		0
		07		2011		13.5224		12.2840		0
		07		2010		12.8942		13.5224		0
		08		2019		16.0368		17.9992		0
		08		2018		19.3261		16.0368		0
		08		2017		16.7321		19.3261		0
		08		2016		15.6633		16.7321		0
		08		2015		17.1883		15.6633		0
		08		2014		18.1492		17.1883		0
		08		2013		14.2361		18.1492		0
		08		2012		12.0681		14.2361		0
		08		2011		13.3120		12.0681		0
		08		2010		12.7196		13.3120		0
Wanger Select		01		2019		22.0559		28.0349		0
		01		2018		25.6185		22.0559		0
		01		2017		20.5724		25.6185		0
		01		2016		18.4618		20.5724		0
		01		2015		18.7344		18.4618		0
		01		2014		18.4780		18.7344		1
		01		2013		13.9675		18.4780		1,236
		01		2012		11.9961		13.9675		1,378
		01		2011		14.8243		11.9961		1,466
		01		2010		11.9151		14.8243		1,258
		02		2019		21.4461		27.2053		0
		02		2018		24.9606		21.4461		0
		02		2017		20.0843		24.9606		0
		02		2016		18.0605		20.0843		0
		02		2015		18.3646		18.0605		0
		02		2014		18.1502		18.3646		0
		02		2013		13.7477		18.1502		0
		02		2012		11.8315		13.7477		0
		02		2011		14.6507		11.8315		0
		02		2010		11.7995		14.6507		0

413

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		03		2019		21.2958		27.0010		0
		03		2018		24.7982		21.2958		0
		03		2017		19.9637		24.7982		0
		03		2016		17.9612		19.9637		0
		03		2015		18.2729		17.9612		0
		03		2014		18.0688		18.2729		0
		03		2013		13.6930		18.0688		0
		03		2012		11.7905		13.6930		0
		03		2011		14.6074		11.7905		0
		03		2010		11.7706		14.6074		0
		04		2019		20.8512		26.3975		0
		04		2018		24.3174		20.8512		0
		04		2017		19.6062		24.3174		0
		04		2016		17.6666		19.6062		0
		04		2015		18.0008		17.6666		0
		04		2014		17.8270		18.0008		0
		04		2013		13.5305		17.8270		0
		04		2012		11.6685		13.5305		0
		04		2011		14.4784		11.6685		0
		04		2010		11.6846		14.4784		0
		05		2019		20.7052		26.1990		0
		05		2018		24.1598		20.7052		0
		05		2017		19.4892		24.1598		0
		05		2016		17.5701		19.4892		0
		05		2015		17.9116		17.5701		0
		05		2014		17.7477		17.9116		0
		05		2013		13.4771		17.7477		0
		05		2012		11.6284		13.4771		0
		05		2011		14.4359		11.6284		0
		05		2010		11.6562		14.4359		0
		06		2019		20.2727		25.6136		0
		06		2018		23.6906		20.2727		0
		06		2017		19.1393		23.6906		0
		06		2016		17.2812		19.1393		0
		06		2015		17.6441		17.2812		0
		06		2014		17.5096		17.6441		0
		06		2013		13.3168		17.5096		0
		06		2012		11.5078		13.3168		0
		06		2011		14.3082		11.5078		0
		06		2010		11.5708		14.3082		0
		07		2019		20.1306		25.4212		0
		07		2018		23.5365		20.1306		0
		07		2017		19.0244		23.5365		0
		07		2016		17.1862		19.0244		0
		07		2015		17.5561		17.1862		0
		07		2014		17.4311		17.5561		0
		07		2013		13.2639		17.4311		0
		07		2012		11.4680		13.2639		0
		07		2011		14.2660		11.4680		0
		07		2010		11.5425		14.2660		0

414

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		08		2019		19.5697		24.6627		0
		08		2018		22.9275		19.5697		0
		08		2017		18.5698		22.9275		0
		08		2016		16.8100		18.5698		0
		08		2015		17.2071		16.8100		0
		08		2014		17.1197		17.2071		0
		08		2013		13.0536		17.1197		0
		08		2012		11.3095		13.0536		0
		08		2011		14.0977		11.3095		0
		08		2010		11.4298		14.0977		0
Wanger USA		01		2019		23.0218		29.6704		0
		01		2018		23.7686		23.0218		0
		01		2017		20.2185		23.7686		0
		01		2016		18.0917		20.2185		0
		01		2015		18.5173		18.0917		0
		01		2014		17.9774		18.5173		0
		01		2013		13.6730		17.9774		0
		01		2012		11.5906		13.6730		0
		01		2011		12.2174		11.5906		0
		01		2010		10.0756		12.2174		0
		02		2019		22.3854		28.7925		0
		02		2018		23.1582		22.3854		0
		02		2017		19.7388		23.1582		0
		02		2016		17.6984		19.7388		0
		02		2015		18.1518		17.6984		0
		02		2014		17.6585		18.1518		0
		02		2013		13.4578		17.6585		0
		02		2012		11.4315		13.4578		0
		02		2011		12.0743		11.4315		0
		02		2010		9.9778		12.0743		0
		03		2019		22.2286		28.5764		0
		03		2018		23.0076		22.2286		0
		03		2017		19.6203		23.0076		0
		03		2016		17.6012		19.6203		0
		03		2015		18.0613		17.6012		0
		03		2014		17.5794		18.0613		0
		03		2013		13.4044		17.5794		0
		03		2012		11.3920		13.4044		0
		03		2011		12.0387		11.3920		0
		03		2010		9.9535		12.0387		0
		04		2019		21.7645		27.9377		0
		04		2018		22.5615		21.7645		0
		04		2017		19.2689		22.5615		0
		04		2016		17.3124		19.2689		0
		04		2015		17.7923		17.3124		0
		04		2014		17.3441		17.7923		0
		04		2013		13.2452		17.3441		0
		04		2012		11.2741		13.2452		0
		04		2011		11.9323		11.2741		0
		04		2010		9.8807		11.9323		0

415

Fund	Price Level		Year		Accumulation Unit Value Beginning of Year		Accumulation Unit Value End of Year		Number of Accumulation Units End of Year
		05		2019		21.6121		27.7276		0
		05		2018		22.4153		21.6121		0
		05		2017		19.1539		22.4153		0
		05		2016		17.2179		19.1539		0
		05		2015		17.7041		17.2179		0
		05		2014		17.2670		17.7041		0
		05		2013		13.1930		17.2670		0
		05		2012		11.2354		13.1930		0
		05		2011		11.8974		11.2354		0
		05		2010		9.8567		11.8974		0
		06		2019		21.1607		27.1081		0
		06		2018		21.9801		21.1607		0
		06		2017		18.8102		21.9801		0
		06		2016		16.9349		18.8102		0
		06		2015		17.4398		16.9349		0
		06		2014		17.0354		17.4398		0
		06		2013		13.0361		17.0354		0
		06		2012		11.1189		13.0361		0
		06		2011		11.7921		11.1189		0
		06		2010		9.7845		11.7921		0
		07		2019		21.0124		26.9045		0
		07		2018		21.8370		21.0124		0
		07		2017		18.6972		21.8370		0
		07		2016		16.8418		18.6972		0
		07		2015		17.3528		16.8418		0
		07		2014		16.9591		17.3528		0
		07		2013		12.9843		16.9591		0
		07		2012		11.0804		12.9843		0
		07		2011		11.7573		11.0804		0
		07		2010		9.7606		11.7573		0
		08		2019		20.4269		26.1018		0
		08		2018		21.2720		20.4269		0
		08		2017		18.2504		21.2720		0
		08		2016		16.4731		18.2504		0
		08		2015		17.0078		16.4731		0
		08		2014		16.6560		17.0078		0
		08		2013		12.7784		16.6560		0
		08		2012		10.9273		12.7784		0
		08		2011		11.6185		10.9273		0
		08		2010		9.6652		11.6185		0

416

This Prospectus sets forth information about the Contract and the Variable Account that a prospective purchaser should know before investing. Additional information about the Contract and the Variable Account has been filed with the Securities and Exchange Commission in a Statement of Additional Information dated April 29, 2020 which is incorporated herein by reference. The Statement of Additional Information is available upon request and without charge from Delaware Life Insurance Company. To receive a copy, return this request form to the address shown below or telephone (877) 253-2323.

To:	Delaware Life Insurance Company
	P.O. Box 758581
	Topeka, KS 66675-8581
	Please send me a Statement of Additional Information for
	Masters Extra
	Delaware Life Variable Account F.
Name:
Address:
City:		State:	Zip Code:
Telephone:

417

PART B 

APRIL 29, 2020

MASTERS EXTRA

VARIABLE AND FIXED ANNUITY

STATEMENT OF ADDITIONAL INFORMATION

DELAWARE LIFE VARIABLE ACCOUNT F

TABLE OF CONTENTS

Delaware Life Insurance Company	2
Advertising and Sales Literature	2
Tax Deferred Accumulation	4
Calculations	4
Example of Net Investment Factor Calculation	4
Example of Variable Accumulation Unit Value Calculation	5
Annuity Provisions	5
Determination of Annuity Payments	5
Annuity Unit Value	6
Example of Variable Annuity Unit Calculation	6
Example of Variable Annuity Payment Calculation	6
Distribution of the Contract	7
Custodian	7
Experts	7
Financial Statements	7

The Statement of Additional Information sets forth information which may be of interest to prospective purchasers of Masters Extra (the “Contract”) issued by Delaware Life Insurance Company (the “Company” or “Delaware Life”) in connection with Delaware Life Variable Account F (the “Variable Account”) which is not included in the Prospectus dated April 29, 2020. This Statement of Additional Information should be read in conjunction with the Prospectus, a copy of which may be obtained without charge from the Company by writing to Delaware Life Insurance Company, P.O. Box 758581, Topeka, KS 66675-8581, or by telephoning (877) 253-2323.

The terms used in this Statement of Additional Information have the same meanings as in the Prospectus.

THIS STATEMENT OF ADDITIONAL INFORMATION IS NOT A PROSPECTUS AND IS AUTHORIZED FOR DISTRIBUTION TO PROSPECTIVE PURCHASERS ONLY IF PRECEDED OR ACCOMPANIED BY A CURRENT PROSPECTUS.

DELAWARE LIFE INSURANCE COMPANY

Group One Thousand One, LLC is the Company’s immediate corporate parent. Group One Thousand One, LLC is ultimately controlled by Mark R. Walter. Mr. Walter ultimately controls the Company through the following intervening companies: Group One Thousand One, LLC, Delaware Life Holdings Parent, LLC, Delaware Life Holdings Parent II, LLC, and DLICM, LLC. The nature of the business of Mr. Walter and these intervening companies is investing in companies engaged in the business of life, health, and property and casualty insurance.

ADVERTISING AND SALES LITERATURE

As set forth in the Prospectus, the Company may refer to the following organizations (and others) in its marketing materials:

A.M. Best’s Rating System is designed to evaluate the various factors affecting the overall performance of an insurance company in order to provide an opinion as to an insurance company’s relative financial strength and ability to meet its contractual obligations. The procedure includes both a quantitative and qualitative review of each company.

Lipper Variable Insurance Products Performance Analysis Service is a publisher of statistical data covering the investment company industry in the United States and overseas. Lipper is recognized as the leading source of data on open-end and closed-end funds. Lipper currently tracks the performance of over 5,000 investment companies and publishes numerous specialized reports, including reports on performance and portfolio analysis, fee and expense analysis.

Standard & Poor’s insurance claims-paying ability rating is an opinion of an operating insurance company’s financial capacity to meet obligations of its insurance policies in accordance with their terms.

VARDS (Variable Annuity Research Data Service) provides a comprehensive guide to variable annuity contract features and historical fund performance. The service also provides a readily understandable analysis of the comparative characteristics and market performance of funds inclusive in variable contracts.

Moody’s Investors Services, Inc.’s insurance claims-paying rating is a system of rating an insurance company’s financial strength, market leadership, and ability to meet financial obligations. The purpose of Moody’s ratings is to provide investors with a simple system of gradation by which the relative quality of insurance companies may be noted.

Standard & Poor’s Index - broad-based measurement of changes in stock-market conditions based on the average performance of 500 widely held common stocks; commonly known as the Standard & Poor’s 500 (S&P 500). The selection of stocks, their relative weightings to reflect differences in the number of outstanding shares, and publication of the index itself are services of Standard & Poor’s Corporation, a financial advisory, securities rating, and publishing firm. The index tracks 400 industrial company stocks, 20 transportation stocks, 40 financial company stocks, and 40 public utilities.

NASDAQ-OTC Price Index - this index is based on the National Association of Securities Dealers Automated Quotations (NASDAQ) and represents all domestic over-the-counter stocks except those traded on exchanges and those having only one market maker, a total of some 3,500 stocks. It is market value-weighted and was introduced with a base of 100.00 on February 5, 1971.

Dow Jones Industrial Average (DJIA) - price-weighted average of 30 actively traded blue chip stocks, primarily industrials, but including American Express Company and American Telephone and Telegraph Company. Prepared and Published by Dow Jones & Company, it is the oldest and most widely quoted of all the market indicators. The average is quoted in points, not dollars.

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Morningstar, Inc. is an independent financial publisher offering comprehensive statistical and analytical coverage of open-end and closed-end funds and variable annuities. This coverage for mutual funds includes, among other information, performance analysis rankings, risk rankings (e.g. aggressive, moderate or conservative), and “style box” matrices. Style box matrices display, for equity funds, the investment philosophy and size of the companies in which the fund invests and, for fixed-income funds, interest rate sensitivity and credit quality of the investment instruments.

Ibbotson Associates, Inc. is a consulting firm that provides a variety of historical data, including total return, capital appreciation and income, on the stock market as well as other investment asset classes, and inflation. This information will be used primarily for comparative purposes and to illustrate general financial planning principles.

In its advertisements and other sales literature for the Variable Account and the Funds, the Company intends to illustrate the advantages of the Contracts in a number of ways:

Dollar-Cost Averaging Illustrations. These illustrations will generally discuss the price-leveling effect of making regular investments in the same Sub-Accounts over a period of time, to take advantage of the trends in market prices of the portfolio securities purchased by those Sub-Accounts.

Systematic Withdrawal Program. A service provided by the Company, through which a Participant may take any distribution allowed by Internal Revenue Code Section 401 (a) (9) in the case of Qualified Contracts, or permitted under Internal Revenue Code Section 72 in the case of Non-Qualified Contracts, by way of a series of partial withdrawals. Withdrawals under this program may be fully or partially includible in income and may be subject to a 10% penalty tax. You should consult a qualified tax professional.

The Company’s and the Funds’ Customers. Sales literature for the Variable Account and the Funds may refer to the number of clients which they serve.

The Company’s Assets, Size. The Company may discuss its general financial condition (see, for example, the references to Standard & Poor’s and A.M. Best Company above); it may refer to its assets; and it may discuss its relative size and/or ranking among companies in the industry or among any sub-classification of those companies, based upon recognized evaluation criteria.

Compound Interest Illustrations. These will emphasize several advantages of the variable annuity contract. For example, but not by way of limitation, the literature may emphasize the potential savings through tax deferral; the potential advantage of the Variable Account over the Fixed Account; and the compounding effect when a participant makes regular deposits to his or her account.

The Company may use hypothetical illustrations of the benefits of tax deferral, including but not limited to the following chart. The chart below assumes an initial investment of $10,000 which remains fully invested for the entire time period, an 8% annual return, and a 33% combined federal and state income tax rate. It compares how 3 different investments might fare over 10, 20, and 30 years. The first example illustrates an investment in a non-tax-deferred account and assumes that taxes are paid annually out of that account. The second example illustrates how the same investment would grow in a tax-deferred investment, such as an annuity. The third example illustrates the net value of the tax-deferred investment after paying taxes on the full account value.

	10 YEARS		20 YEARS		30 YEARS
Non-Tax-Deferred Account	$	16,856	$	28,413	$	47,893
Tax-Deferred Account	$	21,589	$	46,610	$	100,627
Tax-Deferred Account After Paying Taxes	$	17,765	$	34,528	$	70,720

This illustration is hypothetical and does not represent the projected performance of the contract or any of its investment options. The illustration does not reflect the deduction of any charges or fees related to portfolio management, mortality and expense, or account administration. Taxes on earnings within an annuity are due upon withdrawal. Withdrawals may also be subject to surrender charges and, if made prior to age 59¹⁄₂, a 10% federal penalty tax.

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TAX-DEFERRED ACCUMULATION

In general, individuals who own annuity contracts are not taxed on increases in the value of their annuity contracts until some form of distribution is made under the contract. As a result, the annuity contract would benefit from tax deferral during the contract’s accumulation phase; this would have the effect of permitting an investment in an annuity contract to grow more rapidly than a comparable investment under which increases in value are taxed on a current basis.

In reports or other communications to you or in advertising or sales materials, we may also describe the effects of tax-deferred compounding on the Variable Account’s investment returns. We may illustrate these effects in charts or graphs and from time to time may include comparisons of returns under the Contract or in general on a tax-deferred basis, with the returns on a taxable basis. Different tax rates may be assumed. Any such illustrative chart or graph would show accumulations on an initial investment or Purchase Payment, assuming a given amount (including the applicable interest credit), hypothetical gross annual returns compounded annually, and a stated rate of return. The values shown for the taxable investment would not include any deduction for management fees or other expenses, but would assume the annual deduction of federal and state taxes from investment returns. The values shown for the Contract in a chart would reflect the deduction of Contract expenses, such as the mortality and expense risk charge, the 0.15% administrative charge, the 0.15% distribution fee, and the $50 annual Account Fee. In addition, the values shown would assume that the Participant has not surrendered his or her Contract or made any partial surrenders until the end of the period shown. The chart would assume a full surrender at the end of the period shown and the payment of federal and state taxes, at a rate of not more than 33%, on the amount in excess of the Purchase Payments.

In developing illustrative tax deferral charts, we will observe these general principles:

• The assumed rate of earnings will be realistic.

• The illustrative chart will accurately depict the effect of all fees and charges or provide a narrative that prominently discloses all fees and charges under the Contract.

• Charts comparing accumulation values for tax-deferred and non-tax-deferred investments will depict the implications of any surrender.

• A narrative accompanying the chart will prominently disclose that there may be a 10% tax penalty on a surrender by a Participant who has not reached age 59¹⁄₂ at the time of surrender.

The rates of return illustrated in any chart would be hypothetical and are not an estimate or guaranty of performance. Actual tax returns may vary among Participants.

CALCULATIONS

Example of Net Investment Factor Calculation

We determine the net investment factor using the following formula:

Investment Factor	=	(	a + b	)	- d
			c

where:

(a) is the net asset value of a Fund share held in the Sub-Account at the end of that Valuation Period;

(b) is the per share amount of any dividend or capital gains distribution made by that Fund during the Valuation Period;

(c) is the net asset value per share of the Fund share at the end of the previous Valuation Period;

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(d) is a factor representing the asset-based insurance charges (the mortality and expense risk charge, the administrative expense charge, and the distribution fee) plus any applicable asset-based charge for an optional benefit for the Valuation Period.

Assume the following facts about a particular Variable Account at the end of the current Valuation Period:

(a) the net asset value of a fund equals $18.38;

(b) the per share amount of any dividend or capital gains distributions equal $0;

(c) the net asset value per share of the Fund share at the end of the previous Valuation Period equals $18.32; and

(d) the factor representing the asset-based insurance charges (the mortality and expense risk charge, the administrative expense charge, and the distribution fee) plus any applicable asset-based charge for an optional benefit for the Valuation Period equals 0.00004837.

The net investment factor is, therefore, determined as follows:

(18.38 + 0.00) - (.00004837)	=	1.00322674
18.32

Example of Variable Accumulation Unit Value Calculation

We calculate the Variable Accumulation Unit Value for any Valuation Period as follows: we multiply the Variable Accumulation Unit Value for the immediately preceding Valuation Period by the appropriate Net Investment Factor for the subsequent Valuation Period.

Assume the Variable Accumulation Unit value for the immediately preceding Valuation Period had been 14.5645672. Assume that the Net Investment Factor for the subsequent Valuation Period is 1.00321136 as shown in the calculation above. The value for the current Valuation Period would be, therefore, determined as follows:

(14.5645672 x 1.00321136) = 14.6113393

ANNUITY PROVISIONS

Determination of Annuity Payments

On the Annuity Commencement Date, the Contract’s Accumulation Account will be canceled and its adjusted value will be applied to provide a Variable Annuity or a Fixed Annuity or a combination of both. The adjusted value will be equal to the value of the Accumulation Account for the Valuation Period which ends immediately preceding the Annuity Commencement Date, reduced by any applicable premium or similar taxes and a proportionate amount of the contract maintenance charge to reflect the time elapsed between the last Contract Anniversary and the day before the Annuity Commencement Date.

The dollar amount of the first variable annuity payment will be determined in accordance with the annuity payment rates found in the Contract which are based on an assumed interest rate of 3% per year. All variable annuity payments other than the first are determined by means of Annuity Units credited to the Contract. The number of Annuity Units to be credited in respect of a particular Variable Account is determined by dividing that portion of the first variable annuity payment attributable to that Variable Account by the Annuity Unit value of that Variable Account for the Valuation Period which ends immediately preceding the Annuity Commencement Date. The number of Annuity Units of each particular Variable Account credited to the Contract then remains fixed unless an exchange of Annuity Units is made as described below. The dollar amount of each variable annuity payment after the first may increase, decrease or remain constant, and is equal to the sum of the amounts determined by multiplying the number of Annuity Units of a particular Variable Account credited to the Contract by the Annuity Unit value for the particular Variable Account for the Valuation Period which ends immediately preceding the due date of each subsequent payment.

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Annuity Unit Value

The Annuity Unit value for each Variable Account was established at $10.00 for the first Valuation Period of the particular Variable Account. The Annuity Unit value for any subsequent Valuation Period is determined using the following formula:

Annuity Unit Value = (A x B) x C

where:

A equals the Annuity Unit value for the immediately preceding Valuation Period

B equals the Net Investment Factor for the current Valuation Period

C equals a factor to neutralize the assumed interest rate of 3% per year used to establish the annuity payment rates found in the Contract. (This factor is 0.99991902 for a one day Valuation Period.)

Example of Variable Annuity Unit Calculation

Assume the value of an Annuity Unit for the immediately preceding Valuation Period had been 12.3456789. Assume that the Net Investment Factor for the subsequent Valuation Period is 1.00322813 as shown in the calculation above. If the first variable annuity payment is determined by using an annuity payment based on an assumed interest rate of 3% per year, the value of the Annuity Unit for the current Valuation Period would be determined as follows:

(12.3456789 x 1.00322813) x 0.99991902 = 12.3845294

Example of Variable Annuity Payment Calculation

The first Variable Annuity payment is determined by multiplying the Variable Accumulation Unit value for the Valuation Period (as described under “Example of Variable Accumulation Unit Calculation”) by the annuity payment rate for the age and annuity option elected.

Assume the following facts:

• the Account value being annuitized is made up of a particular Variable Account with 8,765.4321 Variable Accumulation Units;

• at the end of the Valuation Period immediately preceding the Annuity Commencement Date, the Variable Accumulation Unit value and the Annuity Unit value for that Variable Account are 14.5645672 and 12.3456789, respectively;

• the annuity payment rate for the age and option elected is $6.78 per $1,000; and

• on the day prior to the second variable annuity payment date, the Annuity Unit value is 12.3724831.

The first Variable Annuity payment would be determined as follows:

(8,765.4321 x 14.5645672) x 6.78	=	$	865.57
1,000

This first Variable Annuity payment of $865.57 represents 70.1112 Variable Annuity Units, which are calculated by dividing the first Variable Annuity Payment by the Variable Annuity Unit value at the end of the Valuation Period immediately preceding the Annuity Commencement Date. In this case, $865.57 divided by 12.3456789.

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Subsequent Variable Annuity payments are determined by multiplying the number of Variable Annuity Units (calculated for the first Variable Annuity payment) by the Variable Annuity Unit value at the end of the Valuation Period immediately preceding the annuity payment date. Thus, the second Variable Annuity payment would be determined as follows:

70.1112 x 12.3845467 = $ 868.29

DISTRIBUTION OF THE CONTRACT

We offer the Contract on a continuous basis through the general distributor and principal underwriter of the Contracts, Clarendon Insurance Agency, Inc. (“Clarendon”). Clarendon also acts as the general distributor of certain other annuity contracts issued by the Company and its wholly-owned subsidiary, Delaware Life Insurance Company of New York, and variable life insurance contracts issued by the Company.

In addition to commissions, the Company may, from time to time, pay or allow additional promotional incentives, in the form of cash or other compensation. The Company reserves the right to offer these additional incentives only to certain broker-dealers that sell or are expected to sell during specified time periods certain minimum amounts of Contracts or Certificates or other contracts offered by the Company. Promotional incentives may change at any time.

Commissions will not be paid to selling agents with respect to Participant Accounts established for the personal account of employees of the Company or any of its affiliates, or of persons engaged in the distribution of the Contract, or of immediate family members of such employees or persons. In addition, commissions may be waived or reduced in connection with certain transactions described in the Prospectus under the heading “Waivers; Reduced Charges; Credits; Special Guaranteed Interest Rates.” Total commissions paid on behalf of Clarendon in connection with the Variable Account during 2017, 2018, and 2019, were approximately $72,466,231, $65,608,771 and $60,507,109, respectively.

CUSTODIAN

We are the Custodian of the assets of the Variable Account. We will purchase Fund shares at net asset value in connection with amounts allocated to the Sub-Accounts in accordance with your instructions, and we will redeem Fund shares at net asset value for the purpose of meeting the contractual obligations of the Variable Account, paying charges relative to the Variable Account or making adjustments for annuity reserves held in the Variable Account.

EXPERTS

The statutory-basis financial statements of Delaware Life Insurance Company as of December 31, 2019 and 2018 and for each of the three years in the period ended December 31, 2019 included in this Statement of Additional Information have been so included in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

The financial statements of Delaware Life Variable Account F as of December 31, 2019 and 2018 and for each of the three years in the period ended December 31, 2019 included in this Statement of Additional Information have been so included in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

FINANCIAL STATEMENTS

The financial statements of the Variable Account and Delaware Life Insurance Company are included herein. The statutory-basis financial statements of Delaware Life Insurance Company are provided as relevant to its ability to meet its financial obligations under the Contracts and Certificates and should not be considered as bearing on the investment performance of the assets held in the Variable Account.

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Delaware Life

Variable Account F – Regatta

Financial Statements as of and for the Year Ended December 31, 2019 and Report of Independent Registered Public Accounting Firm

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA

(A Separate Account of Delaware Life Insurance Company)

Index

December 31, 2019

	Page(s)
Report of Independent Registered Public Accounting Firm....................................................................................................................................	1-3

Financial Statements

Statements of Assets and Liabilities...............................................................................................................................4-11

Statements of Operations..............................................................................................................................................12-56

Statements of Changes in Net Assets..........................................................................................................................57-124

Notes to the Financial Statements.............................................................................................................................125-158

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Delaware Life Insurance Company and the Contract Owners of Delaware Life Variable Account F:

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the subaccounts of Delaware Life Variable Account F – Regatta indicated in the table below as of December 31, 2019, and the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the subaccounts of Delaware Life Variable Account F - Regatta as of December 31, 2019, and the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

AB VPS Balanced Wealth Strategy Portfolio (Class B) Sub-Account (AL1) (1)	MFS VIT II Blended Research Core Equity Portfolio I Class Sub-Account (MB6) (1)
AB VPS Dynamic Asset Allocation Portfolio Class B Sub-Account (AO5) (1)	MFS VIT II Blended Research Core Equity Portfolio S Class Sub-Account (MB7) (1)
AB VPS International Growth Portfolio (Class B) Sub-Account (AM2) (1)	MFS VIT II Core Equity Portfolio I Class Sub-Account (MC2) (1)
AB VPS International Value Portfolio (Class B) Sub-Account (A98) (1)	MFS VIT II Core Equity Portfolio S Class Sub-Account (MC1) (1)
AB VPS Large Cap Growth (Class B) Sub-Account (AC4) (2)	MFS VIT II Corporate Bond Portfolio I Class Sub-Account (MC0) (1)
AB VPS Small/Mid Cap Value Portfolio (Class B) Sub-Account (A74) (1)	MFS VIT II Corporate Bond Portfolio S Class Sub-Account (MA0) (1)
American Funds Growth Fund - Class 4 Sub-Account (AP0) (2)	MFS VIT II Emerging Markets Equity Portfolio I Class Sub-Account (MC3) (1)
American Funds Growth-Income Fund - Class 4 Sub-Account (AQ1) (2)	MFS VIT II Emerging Markets Equity Portfolio S Class Sub-Account (MA1) (1)
American Funds IS Asset Allocation - Class 4 Sub-Account (AS3) (2)	MFS VIT II Global Governments Portfolio I Class Sub-Account (MC4) (1)
American Funds New World Fund - Class 4 Sub-Account (AQ3) (2)	MFS VIT II Global Governments Portfolio S Class Sub-Account (MC5) (1)
BlackRock Global Allocation V.I. Fund (Class III) Sub-Account (B18) (1)	MFS VIT II Global Growth Portfolio I Class Sub-Account (MC6) (1)
ClearBridge Variable Mid Cap Portfolio - Class II Sub-Account (L33) (2)	MFS VIT II Global Growth Portfolio S Class Sub-Account (MC7) (1)
Columbia Variable Portfolio - Large Cap Growth Fund Class 1 Sub-Account (C59)
(1)	MFS VIT II Global Research Portfolio I Class Sub-Account (MC8) (1)
Columbia Variable Portfolio - Large Cap Growth Fund Class 2 Sub-Account (C60)
(1)	MFS VIT II Global Research Portfolio S Class Sub-Account (MC9) (1)
Columbia Variable Portfolio - Overseas Core Fund Class 2 Sub-Account (C58) (1)	MFS VIT II Global Tactical Allocation Portfolio I Class Sub-Account (MD0) (1)
Columbia Variable Portfolio - Small Cap Value Fund Class 2 Sub-Account (C71) (1)	MFS VIT II Global Tactical Allocation Portfolio S Class Sub-Account (M92) (1)
Columbia Variable Portfolio Select Large Cap Value- Class 2 Sub-Account (C91) (2)	MFS VIT II Government Securities Portfolio I Class Sub-Account (M96) (1)
CTIVP - Loomis Sayles Growth Fund Class 1 Sub-Account (C89) (1)	MFS VIT II Government Securities Portfolio S Class Sub-Account (MD2) (1)
CTIVP - Loomis Sayles Growth Fund Class 2 Sub-Account (C90) (1)	MFS VIT II High Yield Portfolio I Class Sub-Account (MA6) (1)
Fidelity VIP Balanced Portfolio (Service Class 2) Sub-Account (FD7) (1)	MFS VIT II High Yield Portfolio Service Class Sub-Account (MA3) (1)
Fidelity VIP Contrafund Portfolio (Service Class 2) Sub-Account (F24) (1)	MFS VIT II International Growth Portfolio I Class Sub-Account (M97) (1)
Fidelity VIP Freedom 2010 Portfolio (Service Class 2) Sub-Account (F88) (1)	MFS VIT II International Growth Portfolio S Class Sub-Account (MD5) (1)
	MFS VIT II International Intrinsic Value Portfolio Initial Class Sub-Account (M98)
Fidelity VIP Freedom 2015 Portfolio (Service Class 2) Sub-Account (FB9) (1)	(1)
	MFS VIT II International Intrinsic Value Portfolio Service Class Sub-Account
Fidelity VIP Freedom 2020 Portfolio (Service Class 2) Sub-Account (F15) (1)	(M93) (1)

PricewaterhouseCoopers LLP, CITYPLACE I 185 Asylum Street, Suite 2400, Hartford, CT 06103-3404 T: (860) 241-7000, www.pwc.com/us

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	MFS VIT II Massachusetts Investors Growth Stock Portfolio I Class Sub-Account
Fidelity VIP Mid Cap Portfolio (Service Class 2) Sub-Account (F41) (1)	(MD6) (1)
	MFS VIT II Massachusetts Investors Growth Stock Portfolio S Class Sub-Account
First Eagle Overseas Variable Fund Sub-Account (FE3) (1)	(MB3) (1)
Franklin Templeton Global Bond VIP Fund Class 4 Sub-Account (T59) (1)	MFS VIT II Research International Portfolio I Class Sub-Account (ME2) (1)
Franklin Templeton Allocation VIP Fund Class 2 Sub-Account (FE6) (1)	MFS VIT II Research International Portfolio S Class Sub-Account (ME3) (1)
Franklin Templeton Developing Markets VIP Fund Class 2 Sub-Account (T21) (1)	MFS VIT II Strategic Income Portfolio I Class Sub-Account (MA5) (1)
Franklin Templeton Foreign VIP Fund Class 2 Sub-Account (T20) (1)	MFS VIT II Strategic Income Portfolio S Class Sub-Account (MA7) (1)
Franklin Templeton Growth VIP Fund Class 2 Sub-Account (F56) (1)	MFS VIT II Technology Portfolio I Class Sub-Account (ME4) (1)
Franklin Templeton Income VIP Fund Class 2 Sub-Account (F59) (1)	MFS VIT II Technology Portfolio S Class Sub-Account (MA2) (1)
	MFS VIT III Blended Research Small Cap Equity Portfolio Service Class Sub-
Franklin Templeton Income VIP Fund Class 4 Sub-Account (FF0) (1)	Account (MF3) (1)
Franklin Templeton Mutual Shares VIP Fund Class 2 Sub-Account (F54) (1)	MFS VIT III Conservative Allocation Portfolio Service Class Sub-Account (MF5) (1)
Franklin Templeton Mutual Shares VIP Fund Class 4 Sub-Account (FG8) (1)	MFS VIT III Global Real Estate Portfolio Initial Class Sub-Account (MF6) (1)
Franklin Templeton Small Cap Value VIP Fund Class 2 Sub-Account (F53) (1)	MFS VIT III Global Real Estate Portfolio Service Class Sub-Account (MF7) (1)
Franklin Templeton Small Cap Value VIP Fund Class 4 Sub-Account (FJ9) (1)	MFS VIT III Growth Allocation Portfolio Service Class Sub-Account (MF9) (1)
	MFS VIT III Inflation Adjusted Bond Portfolio Service Class Sub-Account (MG1)
Franklin Templeton Strategic Income VIP Fund Class 2 Sub-Account (T28) (1)	(1)
Franklin Templeton Strategic Income VIP Fund Class 4 Sub-Account (FJ0) (1)	MFS VIT III Limited Maturity Portfolio Initial Class Sub-Account (MF2) (1)
Goldman Sachs VIT U.S. Equity Insights Fund - Service Class Sub-Account (G03)
(2)	MFS VIT III Limited Maturity Portfolio Service Class Sub-Account (MG2) (1)
Invesco Oppenheimer V.I. Capital Appreciation Fund, Series II Sub-Account (O19)
(1)	MFS VIT III Mid Cap Value Portfolio Initial Class Sub-Account (MG3) (1)
Invesco Oppenheimer V.I. Conservative Balanced Fund, Series II Sub-Account
(O23) (1)	MFS VIT III Mid Cap Value Portfolio Service Class Sub-Account (MG4) (1)
Invesco Oppenheimer V.I. Global Fund, Series II Sub-Account (O20) (1)	MFS VIT III Moderate Allocation Portfolio Service Class Sub-Account (MG6) (1)
Invesco Oppenheimer V.I. Main Street Fund, Series II Sub-Account (O21) (1)	MFS VIT III New Discovery Value Portfolio Service Class Sub-Account (MG7) (1)
Invesco Oppenheimer V.I. Main Street Small Cap Fund, Series II Sub-Account
(O04) (1)	MFS VIT Total Return Series Initial Class Sub-Account (M07) (1)
Invesco V.I. American Value Fund Series II Sub-Account (V35) (1)	MFS VIT Total Return Series Service Class Sub-Account (M35) (1)
	Morgan Stanley Variable Insurance Fund, Inc. Discovery Portfolio Class II Sub-
Invesco V.I. Comstock Fund Series II Sub-Account (V13) (1)	Account (V43) (1)
	Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio Class II Sub-
Invesco V.I. Equity and Income Fund Series II Sub-Account (V11) (1)	Account (V44) (1)
Invesco V.I. International Growth Fund II Sub-Account (AC1) (1)	PIMCO VIT All Asset Portfolio Admin Class Sub-Account (P08) (1)
JPMorgan Insurance Trust Core Bond Portfolio (Class 2) Sub-Account (J88) (1)	PIMCO VIT All Asset Portfolio Advisor Class Sub-Account (PC0) (1)
	PIMCO VIT CommodityRealReturn Strategy Portfolio Advisor Class Sub-Account
JPMorgan Insurance Trust U.S. Equity Portfolio (Class 2) Sub-Account (J94) (1)	(P70) (1)
Lazard Retirement Emerging Markets Equity Portfolio Service Class Sub-Account	PIMCO VIT CommodityRealReturnTM Strategy Portfolio Admin Class Sub-
(L11) (1)	Account (P10) (1)
Lord Abbett Series Fund - Growth Opportunities Portfolio VC Sub-Account (L18)
(1)	PIMCO VIT Emerging Markets Bond Portfolio Admin Class Sub-Account (PK8) (1)
Lord Abbett Series Fund- Fundamental Equity Portfolio VC Sub-Account (L17) (1)	PIMCO VIT Emerging Markets Bond Portfolio Advisor Class Sub-Account (P20) (1)
MFS U.S. Government Money Market Portfolio Initial Class Sub-Account (MD8)	PIMCO VIT Global Managed Asset Allocation Portfolio Advisor Class Sub-Account
(1)	(PD6) (1)
MFS U.S. Government Money Market Portfolio Service Class Sub-Account (MD9)
(1)	PIMCO VIT Real Return Portfolio Admin Class Sub-Account (P06) (1)
MFS VIT I Growth Series Initial Class Sub-Account (M31) (1)	PIMCO VIT StocksPLUS Global Portfolio Advisor Class Sub-Account (PH2) (1)
MFS VIT I Growth Series Service Class Sub-Account (M80) (1)	PIMCO VIT Total Return Portfolio - Advisor Class Sub-Account (P68) (2)
MFS VIT I Mid Cap Growth Series Initial Class Sub-Account (MF1) (1)	PIMCO VIT Total Return Portfolio Admin Class Sub-Account (P07) (1)

PricewaterhouseCoopers LLP, CITYPLACE I 185 Asylum Street, Suite 2400, Hartford, CT 06103-3404 T: (860) 241-7000, www.pwc.com/us

2

MFS VIT I Mid Cap Growth Series Service Class Sub-Account (M41) (1)	Putnam VT Equity Income Fund Class IB Sub-Account (P72) (1)
MFS VIT I New Discovery Series Initial Class Sub-Account (M05) (1)	Putnam VT Income Fund - Class IB Sub-Account (P95) (2)
MFS VIT I New Discovery Series Service Class Sub-Account (M42) (1)	Putnam VT Multi-Asset Absolute Return Fund Class IB Sub-Account (PI3) (1)
MFS VIT I Research Series Service Class Sub-Account (M82) (1)	Putnam VT Research Fund - Class IB Sub-Account (P79) (2)
MFS VIT I Total Return Bond Series Service Class Sub-Account (M89) (1)	Rational Insider Buying VA Fund Sub-Account (H32) (1)
MFS VIT I Utilities Series Initial Class Sub-Account (M44) (1)	Rational Trend Aggregation VA Fund Sub-Account (H24) (1)
MFS VIT I Utilities Series Service Class Sub-Account (M40) (1)	Wanger Select Fund Sub-Account (W41) (1)
MFS VIT I Value Series Initial Class Sub-Account (M83) (1)	Wanger USA Sub-Account (W42) (1)
MFS VIT I Value Series Service Class Sub-Account (M08) (1)

(1) Statement of operations for the year ended December 31, 2019 and statement of changes in net assets for the years ended December 31, 2019 and 2018.

(2) Statement of operations for the year ended December 31, 2019 and statement of changes in net assets for the year ended December 31, 2019 and the period October 3, 2018 (commencement of operations) through December 31, 2018.

Basis for Opinions

These financial statements are the responsibility of the Delaware Life Insurance Company management. Our responsibility is to express an opinion on the financial statements of each of the subaccounts of Delaware Life Variable Account F – Regatta based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to each of the subaccounts of Delaware Life Variable Account F - Regatta in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of investments owned as of December 31, 2019 by correspondence with the transfer agents of the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Hartford, CT

April 27, 2020

We have served as the auditor of one or more of the subaccounts of Delaware Life Variable Account F - Regatta since 2013.

PricewaterhouseCoopers LLP, CITYPLACE I 185 Asylum Street, Suite 2400, Hartford, CT 06103-3404 T: (860) 241-7000, www.pwc.com/us

3

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF ASSETS AND LIABILITIES

DECEMBER 31, 2019

					Assets					Liabilities
				Investments at fair		Receivable from				Payable to
	Shares		Cost		value		Sponsor		Total assets		Sponsor		Net Assets
AB VPS Balanced Wealth Strategy Portfolio (Class B) Sub-Account
(AL1)	3,748,101	$	40,670,208	$	37,855,824	$	-	$	37,855,824	$	-	$	37,855,824
AB VPS Dynamic Asset Allocation Portfolio Class B Sub-Account (AO5)	5,395,054		63,175,218		72,077,915		-		72,077,915		-		72,077,915
AB VPS International Growth Portfolio (Class B) Sub-Account (AM2)	187,121		3,633,062		4,331,861		-		4,331,861		-		4,331,861
AB VPS International Value Portfolio (Class B) Sub-Account (A98)	1,922,645		26,407,773		27,378,458		-		27,378,458		31		27,378,427
AB VPS Large Cap Growth (Class B) Sub-Account (AC4)	1,577		89,637		90,321		-		90,321		-		90,321
AB VPS Small/Mid Cap Value Portfolio (Class B) Sub-Account (A74)	705,264		13,598,493		12,497,272		1,095		12,498,367		-		12,498,367
American Funds Growth Fund - Class 4 Sub-Account (AP0)	1,510		110,462		119,876		-		119,876		-		119,876
American Funds Growth-Income Fund - Class 4 Sub-Account (AQ1)	144		6,999		7,109		-		7,109		-		7,109
American Funds IS Asset Allocation - Class 4 Sub-Account (AS3)	4,824		110,160		114,179		-		114,179		-		114,179
American Funds New World Fund - Class 4 Sub-Account (AQ3)	146		3,408		3,715		-		3,715		-		3,715
BlackRock Global Allocation V.I. Fund (Class III) Sub-Account (B18)	26,982,929		384,321,808		390,712,807		60,430		390,773,237		-		390,773,237
ClearBridge Variable Mid Cap Portfolio - Class II Sub-Account (L33)	1,229		25,458		27,625		-		27,625		-		27,625
Columbia Variable Portfolio - Small Cap Value Fund Class 2 Sub-Account
(C71)	1,365		24,419		21,229		-		21,229		-		21,229
Columbia Variable Portfolio - Large Cap Growth Fund Class 1 Sub-
Account (C59)	2,998		42,335		65,592		-		65,592		-		65,592
Columbia Variable Portfolio - Large Cap Growth Fund Class 2 Sub-
Account (C60)	2,586,425		33,655,113		55,246,039		561		55,246,600		-		55,246,600
CTIVP - Loomis Sayles Growth Fund Class 1 Sub-Account (C89)	4,110		129,006		154,346		-		154,346		-		154,346
CTIVP - Loomis Sayles Growth Fund Class 2 Sub-Account (C90)	452,533		10,515,024		16,594,376		3,047		16,597,423		-		16,597,423
Columbia Variable Portfolio - Overseas Core Fund Class 2 Sub-Account
(C58)	348,440		4,575,866		4,641,220		-		4,641,220		-		4,641,220
Columbia Variable Portfolio Select Large Cap Value- Class 2 Sub-
Account (C91) ¹	1,340		33,364		36,216		-		36,216		-		36,216
Fidelity VIP Balanced Portfolio (Service Class 2) Sub-Account (FD7)	5,404,698		91,224,291		102,797,362		175		102,797,537		-		102,797,537
Fidelity VIP Contrafund Portfolio (Service Class 2) Sub-Account (F24)	3,941,620		125,236,410		142,292,470		65,994		142,358,464		1		142,358,463
Fidelity VIP Freedom 2010 Portfolio (Service Class 2) Sub-Account (F88)	167,658		2,109,419		2,233,208		-		2,233,208		-		2,233,208
Fidelity VIP Freedom 2015 Portfolio (Service Class 2) Sub-Account (FB9)	907,099		11,156,087		11,901,135		-		11,901,135		-		11,901,135
Fidelity VIP Freedom 2020 Portfolio (Service Class 2) Sub-Account (F15)	1,376,073		16,687,755		19,154,940		-		19,154,940		-		19,154,940
Fidelity VIP Mid Cap Portfolio (Service Class 2) Sub-Account (F41)	2,435,349		76,294,758		77,322,344		785		77,323,129		-		77,323,129
First Eagle Overseas Variable Fund Sub-Account (FE3)	8,551,102		225,920,060		220,190,867		-		220,190,867		102		220,190,765
Franklin Templeton Developing Markets VIP Fund Class 2 Sub-Account
(T21)	1,929,413		14,793,307		20,664,008		490		20,664,498		-		20,664,498
Franklin Templeton Foreign VIP Fund Class 2 Sub-Account (T20)	5,596,327		79,462,540		77,956,830		3,410		77,960,240		-		77,960,240
Franklin Templeton Allocation VIP Fund Class 2 Sub-Account (FE6) ¹	3,846,954		26,357,486		26,197,758		-		26,197,758		-		26,197,758
Franklin Templeton Global Bond VIP Fund Class 4 Sub-Account (T59)	273,583		4,627,384		4,467,613		540		4,468,153		-		4,468,153
Franklin Templeton Growth VIP Fund Class 2 Sub-Account (F56)	1,329,518		16,657,527		14,491,742		-		14,491,742		643		14,491,099
Franklin Templeton Income VIP Fund Class 2 Sub-Account (F59)	3,501,407		53,762,709		55,707,393		-		55,707,393		205		55,707,188
Franklin Templeton Income VIP Fund Class 4 Sub-Account (FF0)	94,320		1,484,547		1,539,309		-		1,539,309		-		1,539,309
Franklin Templeton Mutual Shares VIP Fund Class 2 Sub-Account (F54)	6,480,421		122,941,484		121,896,717		62		121,896,779		-		121,896,779
Franklin Templeton Mutual Shares VIP Fund Class 4 Sub-Account (FG8)	11,813		234,118		224,329		-		224,329		-		224,329
Franklin Templeton Small Cap Value VIP Fund Class 2 Sub-Account
(F53)	1,507,252		24,637,136		22,684,139		269		22,684,408		-		22,684,408
Franklin Templeton Small Cap Value VIP Fund Class 4 Sub-Account
(FJ9)	16,867		286,849		261,610		-		261,610		-		261,610

The accompanying notes are an integral part of these financial statements.

- 4 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)

DECEMBER 31, 2019

					Assets					Liabilities
				Investments at fair		Receivable from				Payable to
	Shares		Cost		value		Sponsor		Total assets		Sponsor		Net Assets
Franklin Templeton Strategic Income VIP Fund Class 2 Sub-Account
(T28)	1,168,251	$	12,751,729	$	12,325,046	$	593	$	12,325,639	$	-	$	12,325,639
Franklin Templeton Strategic Income VIP Fund Class 4 Sub-Account (FJ0)	14,391		157,879		155,855		-		155,855		-		155,855
Goldman Sachs VIT U.S. Equity Insights Fund - Service Class Sub-
Account (G03)	2,025		36,423		36,538		-		36,538		-		36,538
Rational Trend Aggregation VA Fund Sub-Account (H24)	69,919		840,848		783,087		-		783,087		-		783,087
Rational Insider Buying VA Fund Sub-Account (H32)	87,407		1,095,722		1,040,138		-		1,040,138		-		1,040,138
Invesco V.I. American Value Fund Series II Sub-Account (V35)	342,275		5,542,036		5,387,403		108		5,387,511		-		5,387,511
Invesco V.I. Comstock Fund Series II Sub-Account (V13)	1,464,180		26,251,010		25,022,833		-		25,022,833		2		25,022,831
Invesco V.I. Equity and Income Fund Series II Sub-Account (V11)	5,108,447		88,993,175		88,989,150		-		88,989,150		9,742		88,979,408
Invesco V.I. International Growth Fund II Sub-Account (AC1)	61,845		2,182,434		2,379,793		-		2,379,793		2		2,379,791
JPMorgan Insurance Trust Core Bond Portfolio (Class 2) Sub-Account
(J88)	3,651,195		39,469,691		40,491,756		-		40,491,756		-		40,491,756
JPMorgan Insurance Trust U.S. Equity Portfolio (Class 2) Sub-Account
(J94)	495,426		14,203,226		15,769,422		-		15,769,422		-		15,769,422
Lazard Retirement Emerging Markets Equity Portfolio Service Class Sub-
Account (L11)	1,422,106		27,408,748		31,286,324		59		31,286,383		-		31,286,383
Lord Abbett Series Fund - Growth Opportunities Portfolio VC Sub-
Account (L18)	1,677,118		20,426,079		21,836,081		1,193		21,837,274		-		21,837,274
Lord Abbett Series Fund- Fundamental Equity Portfolio VC Sub-Account
(L17)	1,919,900		33,014,942		31,755,152		188		31,755,340		-		31,755,340
MFS VIT Total Return Series Initial Class Sub-Account (M07)	12,419,608		283,134,384		309,248,251		-		309,248,251		693,881		308,554,370
MFS VIT Total Return Series Service Class Sub-Account (M35)	11,720,499		264,334,990		286,331,800		412		286,332,212		2,641		286,329,571
MFS VIT I Growth Series Initial Class Sub-Account (M31)	2,574,117		99,550,645		152,902,538		63,612		152,966,150		-		152,966,150
MFS VIT I Growth Series Service Class Sub-Account (M80)	393,896		17,441,271		22,381,169		1,071		22,382,240		-		22,382,240
MFS VIT I Mid Cap Growth Series Initial Class Sub-Account (MF1)	2,387,147		21,152,952		23,775,986		4,411		23,780,397		167		23,780,230
MFS VIT I Mid Cap Growth Series Service Class Sub-Account (M41)	2,786,030		23,301,344		25,547,893		494		25,548,387		-		25,548,387
MFS VIT I New Discovery Series Initial Class Sub-Account (M05)	2,616,906		46,954,752		53,070,856		-		53,070,856		120		53,070,736
MFS VIT I New Discovery Series Service Class Sub-Account (M42)	1,997,845		32,625,608		36,001,153		1,693		36,002,846		-		36,002,846
MFS VIT I Total Return Bond Series Service Class Sub-Account (M89)	33,083,191		432,175,756		438,021,461		48,357		438,069,818		-		438,069,818
MFS VIT I Research Series Service Class Sub-Account (M82)	4,017,048		106,052,654		116,695,230		147		116,695,377		-		116,695,377
MFS VIT I Utilities Series Initial Class Sub-Account (M44)	2,851,108		90,029,747		100,301,995		56,366		100,358,361		166		100,358,195
MFS VIT I Utilities Series Service Class Sub-Account (M40)	1,426,931		40,152,552		49,314,750		751		49,315,501		1		49,315,500
MFS VIT I Value Series Initial Class Sub-Account (M83)	10,488,488		196,247,906		219,733,814		76,219		219,810,033		-		219,810,033
MFS VIT I Value Series Service Class Sub-Account (M08)	5,068,674		94,392,974		104,009,198		4,226		104,013,424		-		104,013,424
MFS VIT II Blended Research Core Equity Portfolio I Class Sub-Account
(MB6)	4,731,042		202,524,237		251,029,115		126,044		251,155,159		-		251,155,159
MFS VIT II Blended Research Core Equity Portfolio S Class Sub-Account
(MB7)	1,136,777		52,016,899		59,726,276		12,494		59,738,770		-		59,738,770
MFS VIT II Corporate Bond Portfolio I Class Sub-Account (MC0)	4,100,913		47,644,283		48,964,906		17,743		48,982,649		401		48,982,248

The accompanying notes are an integral part of these financial statements.

- 5 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)

DECEMBER 31, 2019

					Assets					Liabilities
				Investments at fair		Receivable from				Payable to
	Shares		Cost		value		Sponsor		Total assets	Sponsor		Net Assets
MFS VIT II Corporate Bond Portfolio S Class Sub-Account (MA0)	10,134,900	$	115,482,161	$	119,389,123	$	-	$	119,389,123	$ 13,561	$	119,375,562
MFS VIT II Core Equity Portfolio I Class Sub-Account (MC2)	3,992,635		83,454,848		99,057,279		48,268		99,105,547	585		99,104,962
MFS VIT II Core Equity Portfolio S Class Sub-Account (MC1)	1,639,014		37,017,134		40,155,836		12,670		40,168,506	-		40,168,506
MFS VIT II Emerging Markets Equity Portfolio I Class Sub-Account
(MC3)	972,937		14,151,246		16,588,570		11,381		16,599,951	-		16,599,951
MFS VIT II Emerging Markets Equity Portfolio S Class Sub-Account
(MA1)	931,340		13,276,454		15,637,199		159		15,637,358	-		15,637,358
MFS VIT II Global Governments Portfolio I Class Sub-Account (MC4)	857,979		9,118,239		9,188,954		25,306		9,214,260	-		9,214,260
MFS VIT II Global Governments Portfolio S Class Sub-Account (MC5)	76,524		792,985		803,500		-		803,500	-		803,500
MFS VIT II Global Growth Portfolio I Class Sub-Account (MC6)	1,679,463		34,636,380		48,032,651		40,386		48,073,037	-		48,073,037
MFS VIT II Global Growth Portfolio S Class Sub-Account (MC7)	73,578		1,511,424		2,098,442		-		2,098,442	-		2,098,442
MFS VIT II Global Research Portfolio I Class Sub-Account (MC8)	2,567,747		53,975,262		82,655,789		66,286		82,722,075	-		82,722,075
MFS VIT II Global Research Portfolio S Class Sub-Account (MC9)	151,727		3,674,427		4,864,377		-		4,864,377	4		4,864,373
MFS VIT II Global Tactical Allocation Portfolio I Class Sub-Account
(MD0)	2,589,244		38,955,974		41,065,410		51,852		41,117,262	-		41,117,262
MFS VIT II Global Tactical Allocation Portfolio S Class Sub-Account
(M92)	33,214,414		494,206,294		517,148,430		636		517,149,066	-		517,149,066
MFS VIT II Government Securities Portfolio I Class Sub-Account (M96)	5,845,342		74,569,224		72,774,512		44,878		72,819,390	-		72,819,390
MFS VIT II Government Securities Portfolio S Class Sub-Account (MD2)	11,918,217		150,089,719		147,547,523		10,514		147,558,037	-		147,558,037
MFS VIT II High Yield Portfolio I Class Sub-Account (MA6)	8,344,975		48,134,717		47,733,258		2,931		47,736,189	-		47,736,189
MFS VIT II High Yield Portfolio Service Class Sub-Account (MA3)	6,300,881		36,026,259		35,599,980		1,344		35,601,324	-		35,601,324
MFS VIT II International Growth Portfolio I Class Sub-Account (M97)	2,467,309		33,025,985		35,183,822		5,780		35,189,602	411		35,189,191
MFS VIT II International Growth Portfolio S Class Sub-Account (MD5)	1,122,215		15,139,247		15,834,456		-		15,834,456	43		15,834,413
MFS VIT II International Intrinsic Value Portfolio Initial Class Sub-
Account (M98) ¹	1,386,740		29,207,789		41,519,003		14,154		41,533,157	-		41,533,157
MFS VIT II International Intrinsic Value Portfolio Service Class Sub-
Account (M93) ¹	2,752,287		61,806,487		81,109,909		700		81,110,609	-		81,110,609
MFS VIT II Massachusetts Investors Growth Stock Portfolio I Class Sub-
Account (MD6)	14,606,848		227,364,742		329,822,627		533,608		330,356,235	583		330,355,652
MFS VIT II Massachusetts Investors Growth Stock Portfolio S Class Sub-
Account (MB3)	1,628,039		26,919,991		36,256,430		10,966		36,267,396	-		36,267,396
MFS U.S. Government Money Market Portfolio Initial Class Sub-Account
(MD8)	38,022,610		38,022,610		38,022,610		-		38,022,610	44,640		37,977,970
MFS U.S. Government Money Market Portfolio Service Class Sub-
Account (MD9)	107,714,122		107,714,122		107,714,122		1,970		107,716,092	-		107,716,092
MFS VIT II Research International Portfolio I Class Sub-Account (ME2)	1,194,337		16,831,305		20,255,954		300		20,256,254	-		20,256,254
MFS VIT II Research International Portfolio S Class Sub-Account (ME3)	2,302,756		33,596,812		38,548,132		914		38,549,046	-		38,549,046
MFS VIT II Strategic Income Portfolio I Class Sub-Account (MA5)	2,547,270		25,102,083		25,421,755		-		25,421,755	8,223		25,413,532
MFS VIT II Strategic Income Portfolio S Class Sub-Account (MA7)	409,063		3,990,086		4,049,722		589		4,050,311	-		4,050,311
MFS VIT II Technology Portfolio I Class Sub-Account (ME4)	848,734		11,924,036		17,976,176		8,764		17,984,940	153		17,984,787
MFS VIT II Technology Portfolio S Class Sub-Account (MA2)	83,307		1,119,724		1,658,655		-		1,658,655	-		1,658,655

The accompanying notes are an integral part of these financial statements.

- 6 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)

DECEMBER 31, 2019

					Assets					Liabilities
				Investments at fair		Receivable from				Payable to
	Shares		Cost		value		Sponsor		Total assets		Sponsor		Net Assets
MFS VIT III Blended Research Small Cap Equity Portfolio Service Class
Sub-Account (MF3)	4,660,032	$	54,780,766	$	52,378,757	$	1,086	$	52,379,843	$	-	$	52,379,843
MFS VIT III Conservative Allocation Portfolio Service Class Sub-Account
(MF5)	35,392,573		400,445,160		405,952,819		-		405,952,819		1,065		405,951,754
MFS VIT III Global Real Estate Portfolio Initial Class Sub-Account
(MF6)	109,617		1,502,051		1,744,002		185		1,744,187		-		1,744,187
MFS VIT III Global Real Estate Portfolio Service Class Sub-Account
(MF7)	2,722,138		42,484,156		50,522,885		667		50,523,552		1		50,523,551
MFS VIT III Growth Allocation Portfolio Service Class Sub-Account
(MF9)	27,262,051		312,047,060		325,781,512		178		325,781,690		-		325,781,690
MFS VIT III Inflation Adjusted Bond Portfolio Service Class Sub-Account
(MG1)	10,944,057		111,750,792		116,991,964		-		116,991,964		2,099		116,989,865
MFS VIT III Limited Maturity Portfolio Initial Class Sub-Account (MF2)	18,656,563		191,383,890		192,908,863		5,783		192,914,646		-		192,914,646
MFS VIT III Limited Maturity Portfolio Service Class Sub-Account
(MG2)	10,594,871		108,477,576		109,445,018		372		109,445,390		-		109,445,390
MFS VIT III Mid Cap Value Portfolio Initial Class Sub-Account (MG3)	2,807,563		22,817,657		24,538,099		244		24,538,343		-		24,538,343
MFS VIT III Mid Cap Value Portfolio Service Class Sub-Account (MG4)	2,466,282		19,823,423		21,333,339		114		21,333,453		-		21,333,453
MFS VIT III Moderate Allocation Portfolio Service Class Sub-Account
(MG6)	98,517,891		1,233,889,336		1,302,406,516		178,076		1,302,584,592		-		1,302,584,592
MFS VIT III New Discovery Value Portfolio Service Class Sub-Account
(MG7)	824,431		8,004,636		7,625,981		115		7,626,096		-		7,626,096
Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio Class II
Sub-Account (V44)	335,263		10,158,671		11,234,668		174		11,234,842		-		11,234,842
Morgan Stanley Variable Insurance Fund, Inc. Discovery Portfolio Class II
Sub-Account (V43) ¹	622,003		7,429,607		7,855,904		106		7,856,010		-		7,856,010
Invesco Oppenheimer V.I. Capital Appreciation Fund, Series II Sub-
Account (O19) ¹	237,047		12,290,158		13,907,544		532		13,908,076		-		13,908,076
Invesco Oppenheimer V.I. Conservative Balanced Fund, Series II Sub-
Account (O23) ¹	684,314		9,724,736		11,010,608		-		11,010,608		-		11,010,608
Invesco Oppenheimer V.I. Global Fund, Series II Sub-Account (O20) ¹	370,642		14,583,037		15,548,415		540		15,548,955		-		15,548,955
Invesco Oppenheimer V.I. Main Street Fund, Series II Sub-Account (O21)
¹	5,236,288		146,213,075		152,114,180		6,455		152,120,635		1		152,120,634
Invesco Oppenheimer V.I. Main Street Small Cap Fund, Series II Sub-
Account (O04) ¹	209,405		4,828,429		4,793,288		-		4,793,288		2		4,793,286
PIMCO VIT StocksPLUS Global Portfolio Advisor Class Sub-Account
(PH2)	42,706		358,829		376,666		-		376,666		-		376,666
PIMCO VIT All Asset Portfolio Admin Class Sub-Account (P08)	1,574,399		16,328,752		16,987,769		-		16,987,769		-		16,987,769
PIMCO VIT All Asset Portfolio Advisor Class Sub-Account (PC0)	1,355,504		14,216,372		14,802,101		-		14,802,101		-		14,802,101
PIMCO VIT CommodityRealReturn Strategy Portfolio Advisor Class Sub-
Account (P70)	39,387		294,272		255,626		-		255,626		-		255,626
PIMCO VIT CommodityRealReturnTM Strategy Portfolio Admin Class
Sub-Account (P10)	3,590,137		25,416,578		23,012,776		126		23,012,902		-		23,012,902
PIMCO VIT Emerging Markets Bond Portfolio Admin Class Sub-Account
(PK8)	599,103		7,704,898		7,902,165		636		7,902,801		-		7,902,801
PIMCO VIT Emerging Markets Bond Portfolio Advisor Class Sub-
Account (P20)	16,015		206,864		211,235		-		211,235		-		211,235
PIMCO VIT Global Managed Asset Allocation Portfolio Advisor Class
Sub-Account (PD6) ¹	30,328,711		360,158,978		381,838,471		27,293		381,865,764		-		381,865,764
PIMCO VIT Real Return Portfolio Admin Class Sub-Account (P06)	2,562,510		32,343,916		32,390,133		11		32,390,144		-		32,390,144
PIMCO VIT Total Return Portfolio Admin Class Sub-Account (P07)	12,098,994		132,141,247		133,330,919		352		133,331,271		-		133,331,271
PIMCO VIT Total Return Portfolio - Advisor Class Sub-Account (P68)	1,853		20,449		20,424		-		20,424		-		20,424
Putnam VT Multi-Asset Absolute Return Fund Class IB Sub-Account
(PI3)	1,456,123		14,876,385		14,604,913		-		14,604,913		-		14,604,913
Putnam VT Equity Income Fund Class IB Sub-Account (P72)	514,970		12,310,812		13,842,390		-		13,842,390		-		13,842,390
Putnam VT Income Fund - Class IB Sub-Account (P95)	639		7,240		7,351		-		7,351		-		7,351
Putnam VT Research Fund - Class IB Sub-Account (P79)	567		14,988		16,907		-		16,907		-		16,907
Wanger Select Fund Sub-Account (W41)	14,071		259,174		257,366		-		257,366		-		257,366
Wanger USA Sub-Account (W42)	1,695		39,928		37,721		-		37,721		-		37,721

1This Sub-Account had a name change in 2019. Refer to Note 1 in the Variable Account's Notes to Financial Statements for more information.

The accompanying notes are an integral part of these financial statements.

- 7 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)

DECEMBER 31, 2019

		Applicable to Owners
		of Deferred Variable			Reserve for
			Annuity Contracts		Variable
	Total Units		Value		Annuities		Net Assets
AL1	2,340,904	$	37,855,824	$	-	$	37,855,824
AO5	5,551,012		72,077,915		-		72,077,915
AM2	421,037		4,331,861		-		4,331,861
A98	3,626,556		27,276,911		101,516		27,378,427
AC4	7,757		90,321		-		90,321
A74	576,830		12,463,913		34,454		12,498,367
AP0	10,862		119,876		-		119,876
AQ1	654		7,109		-		7,109
AS3	10,471		114,179		-		114,179
AQ3	323		3,715		-		3,715
B18	22,286,973		390,671,083		102,154		390,773,237
L33	2,537		27,625		-		27,625
C71	944		21,229		-		21,229
C59	3,939		65,592		-		65,592
C60	3,355,394		55,004,913		241,687		55,246,600
C89	9,175		154,346		-		154,346
C90	987,736		16,509,416		88,007		16,597,423
C58	380,321		4,641,220		-		4,641,220
C91	3,422		36,216		-		36,216
FD7	5,062,414		102,795,692		1,845		102,797,537
F24	6,086,530		142,154,064		204,399		142,358,463
F88	129,978		2,233,208		-		2,233,208
FB9	657,257		11,901,135		-		11,901,135
F15	1,025,139		19,154,940		-		19,154,940
F41	3,638,561		77,215,758		107,371		77,323,129
FE3	13,956,758		220,083,789		106,976		220,190,765
T21	1,213,365		20,632,508		31,990		20,664,498
T20	3,970,974		77,796,499		163,741		77,960,240
FE6	1,669,351		26,197,758		-		26,197,758
T59	427,256		4,461,951		6,202		4,468,153
F56	642,518		14,470,875		20,224		14,491,099
F59	3,499,450		55,691,809		15,379		55,707,188
FF0	97,632		1,539,309		-		1,539,309
F54	4,608,107		121,777,882		118,897		121,896,779
FG8	11,683		224,329		-		224,329
F53	564,908		22,677,904		6,504		22,684,408
FJ9	11,424		261,610		-		261,610
T28	846,888		12,318,835		6,804		12,325,639
FJ0	12,959		155,855		-		155,855
G03	3,522		36,538		-		36,538
H24	55,201		783,087		-		783,087
H32	55,082		1,040,138		-		1,040,138

The accompanying notes are an integral part of these financial statements.

- 8 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)

DECEMBER 31, 2019

		Applicable to Owners
		of Deferred Variable			Reserve for
			Annuity Contracts		Variable
	Total Units		Value		Annuities		Net Assets
V35	271,291	$	5,382,849	$	4,662	$	5,387,511
V13	1,331,139		25,016,155		6,676		25,022,831
V11	4,591,136		88,916,943		62,465		88,979,408
AC1	151,039		2,372,763		7,028		2,379,791
J88	3,728,909		40,491,756		-		40,491,756
J94	574,362		15,769,422		-		15,769,422
L11	2,926,589		31,252,182		34,201		31,286,383
L18	665,279		21,810,279		26,995		21,837,274
L17	1,152,329		31,748,996		6,344		31,755,340
M07	20,851,912		305,112,397		3,441,973		308,554,370
M35	19,920,899		285,553,315		776,256		286,329,571
M31	3,740,843		152,310,334		655,816		152,966,150
M80	512,464		22,324,604		57,636		22,382,240
MF1	1,585,873		23,495,648		284,582		23,780,230
M41	788,367		25,422,278		126,109		25,548,387
M05	2,988,255		52,878,792		191,944		53,070,736
M42	1,693,473		35,921,424		81,422		36,002,846
M89	37,989,667		437,887,945		181,873		438,069,818
M82	5,170,576		116,614,184		81,193		116,695,377
M44	7,697,178		99,491,764		866,431		100,358,195
M40	3,882,378		49,307,051		8,449		49,315,500
M83	11,986,049		218,221,217		1,588,816		219,810,033
M08	5,322,655		103,576,808		436,616		104,013,424
MB6	6,487,980		248,098,894		3,056,265		251,155,159
MB7	1,845,504		59,584,408		154,362		59,738,770
MC0	1,943,211		48,522,057		460,191		48,982,248
MA0	6,042,604		119,211,514		164,048		119,375,562
MC2	2,842,931		98,383,693		721,269		99,104,962
MC1	1,523,361		40,019,801		148,705		40,168,506
MC3	504,336		16,453,376		146,575		16,599,951
MA1	858,553		15,635,678		1,680		15,637,358
MC4	488,093		9,115,566		98,694		9,214,260
MC5	54,156		803,500		-		803,500
MC6	1,046,941		47,715,075		357,962		48,073,037
MC7	62,083		2,098,442		-		2,098,442
MC8	2,503,331		81,912,468		809,607		82,722,075
MC9	196,208		4,824,648		39,725		4,864,373
MD0	1,307,551		40,776,608		340,654		41,117,262
M92	36,890,746		517,013,366		135,700		517,149,066
M96	3,639,440		72,262,666		556,724		72,819,390
MD2	11,100,477		147,169,221		388,816		147,558,037

The accompanying notes are an integral part of these financial statements.

- 9 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)

DECEMBER 31, 2019

		Applicable to Owners
		of Deferred Variable			Reserve for
			Annuity Contracts		Variable
	Total Units		Value		Annuities		Net Assets
MA6	1,688,655	$	47,300,480	$	435,709	$	47,736,189
MA3	1,558,342		35,442,360		158,964		35,601,324
M97	1,237,228		34,666,784		522,407		35,189,191
MD5	808,213		15,733,437		100,976		15,834,413
M98	934,776		41,097,300		435,857		41,533,157
M93	4,106,841		80,929,617		180,992		81,110,609
MD6	11,233,612		325,557,528		4,798,124		330,355,652
MB3	1,119,963		36,152,010		115,386		36,267,396
MD8	3,364,994		37,310,612		667,358		37,977,970
MD9	12,065,194		107,519,341		196,751		107,716,092
ME2	932,101		20,202,062		54,192		20,256,254
ME3	1,520,079		38,517,019		32,027		38,549,046
MA5	1,166,830		25,336,476		77,056		25,413,532
MA7	208,505		4,013,731		36,580		4,050,311
ME4	998,683		17,830,355		154,432		17,984,787
MA2	49,526		1,658,655		-		1,658,655
MF3	2,340,999		52,168,314		211,529		52,379,843
MF5	22,941,913		405,633,626		318,128		405,951,754
MF6	52,821		1,742,142		2,045		1,744,187
MF7	2,253,830		50,413,583		109,968		50,523,551
MF9	12,493,257		325,779,812		1,878		325,781,690
MG1	9,471,698		116,917,459		72,406		116,989,865
MF2	18,692,242		192,325,925		588,721		192,914,646
MG2	10,825,862		109,424,356		21,034		109,445,390
MG3	1,024,055		24,495,873		42,470		24,538,343
MG4	902,847		21,328,530		4,923		21,333,453
MG6	59,093,135		1,301,400,061		1,184,531		1,302,584,592
MG7	251,133		7,621,100		4,996		7,626,096

The accompanying notes are an integral part of these financial statements.

- 10 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)

DECEMBER 31, 2019

		Applicable to Owners
		of Deferred Variable			Reserve for
			Annuity Contracts		Variable
	Total Units		Value		Annuities		Net Assets
V44	353,950	$	11,233,005	$	1,837	$	11,234,842
V43	278,593		7,851,398		4,612		7,856,010
O19	420,729		13,855,218		52,858		13,908,076
O23	967,190		11,010,608		-		11,010,608
O20	518,280		15,542,802		6,153		15,548,955
O21	4,719,995		151,744,666		375,968		152,120,634
O04	112,700		4,768,570		24,716		4,793,286
PH2	23,358		376,666		-		376,666
P08	1,102,174		16,987,769		-		16,987,769
PC0	1,187,243		14,802,101		-		14,802,101
P70	52,264		255,626		-		255,626
P10	4,210,677		22,922,293		90,609		23,012,902
PK8	254,755		7,871,458		31,343		7,902,801
P20	16,181		211,235		-		211,235
PD6	28,128,118		381,803,602		62,162		381,865,764
P06	2,006,490		32,377,117		13,027		32,390,144
P07	7,707,882		133,108,430		222,841		133,331,271
P68	1,895		20,424		-		20,424
PI3	1,404,143		14,604,913		-		14,604,913
P72	532,161		13,842,390		-		13,842,390
P95	664		7,351		-		7,351
P79	1,490		16,907		-		16,907
W41	9,137		257,366		-		257,366
W42	1,276		37,721		-		37,721

The accompanying notes are an integral part of these financial statements.

- 11 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2019

		AL1		AO5		AM2
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	889,749	$	1,298,355	$	12,165
Expenses:
Mortality and expense risk charges		(478,739)		(880,798)		(54,313)
Distribution and administration charges		(152,735)		(281,359)		(18,189)
Net investment income (loss)		258,275		136,198		(60,337)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(1,217,479)		1,738,964		151,872
Realized gain distributions		4,615,722		82,153		108,202
Net realized gains (losses)		3,398,243		1,821,117		260,074
Net change in unrealized appreciation (depreciation)		2,188,551		7,340,627		787,565
Net realized and change in unrealized gains (losses)		5,586,794		9,161,744		1,047,639
Net increase (decrease) in net assets from operations	$	5,845,069	$	9,297,942	$	987,302

The accompanying notes are an integral part of these financial statements.

- 12 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		A98		AC4		A74
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	217,366	$	-	$	40,123
Expenses:
Mortality and expense risk charges		(347,050)		(221)		(156,400)
Distribution and administration charges		(114,448)		(91)		(52,481)
Net investment income (loss)		(244,132)		(312)		(168,758)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		389,132		(563)		(216,381)
Realized gain distributions		-		5,983		1,385,859
Net realized gains (losses)		389,132		5,420		1,169,478
Net change in unrealized appreciation (depreciation)		3,647,301		684		968,916
Net realized and change in unrealized gains (losses)		4,036,433		6,104		2,138,394
Net increase (decrease) in net assets from operations	$	3,792,301	$	5,792	$	1,969,636

The accompanying notes are an integral part of these financial statements.

- 13 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		AP0		AQ1		AS3
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	424	$	41	$	1,344
Expenses:
Mortality and expense risk charges		(306)		(4)		(180)
Distribution and administration charges		(125)		(2)		(74)
Net investment income (loss)		(7)		35		1,090
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		562		3		181
Realized gain distributions		-		-		-
Net realized gains (losses)		562		3		181
Net change in unrealized appreciation (depreciation)		9,414		110		4,019
Net realized and change in unrealized gains (losses)		9,976		113		4,200
Net increase (decrease) in net assets from operations	$	9,969	$	148	$	5,290

The accompanying notes are an integral part of these financial statements.

- 14 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		AQ3		B18		L33
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	22	$	4,803,345	$	93
Expenses:
Mortality and expense risk charges		(9)		(4,895,209)		(112)
Distribution and administration charges		(4)		(1,559,478)		(46)
Net investment income (loss)		9		(1,651,342)		(65)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		8		230,074		18
Realized gain distributions		-		15,167,268		192
Net realized gains (losses)		8		15,397,342		210
Net change in unrealized appreciation (depreciation)		307		44,387,747		2,167
Net realized and change in unrealized gains (losses)		315		59,785,089		2,377
Net increase (decrease) in net assets from operations	$	324	$	58,133,747	$	2,312

The accompanying notes are an integral part of these financial statements.

- 15 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		C71		C59		C60
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	55	$	-	$	-
Expenses:
Mortality and expense risk charges		(260)		(743)		(707,010)
Distribution and administration charges		(79)		(228)		(240,174)
Net investment income (loss)		(284)		(971)		(947,184)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(537)		2,801		5,523,482
Realized gain distributions		1,803		-		-
Net realized gains (losses)		1,266		2,801		5,523,482
Net change in unrealized appreciation (depreciation)		2,515		14,041		11,405,519
Net realized and change in unrealized gains (losses)		3,781		16,842		16,929,001
Net increase (decrease) in net assets from operations	$	3,497	$	15,871	$	15,981,817

The accompanying notes are an integral part of these financial statements.

- 16 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		C89		C90		C58
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	-	$	-	$	83,925
Expenses:
Mortality and expense risk charges		(1,990)		(213,193)		(58,666)
Distribution and administration charges		(748)		(74,167)		(20,004)
Net investment income (loss)		(2,738)		(287,360)		5,255
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		755		1,871,889		62,314
Realized gain distributions		-		-		662,137
Net realized gains (losses)		755		1,871,889		724,451
Net change in unrealized appreciation (depreciation)		36,444		2,765,257		261,230
Net realized and change in unrealized gains (losses)		37,199		4,637,146		985,681
Net increase (decrease) in net assets from operations	$	34,461	$	4,349,786	$	990,936

The accompanying notes are an integral part of these financial statements.

- 17 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		C91		FD7		F24
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	-	$	1,562,247	$	304,579
Expenses:
Mortality and expense risk charges		(128)		(1,253,643)		(1,777,734)
Distribution and administration charges		(53)		(393,142)		(579,684)
Net investment income (loss)		(181)		(84,538)		(2,052,839)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		299		2,017,426		3,284,919
Realized gain distributions		-		4,938,194		17,277,526
Net realized gains (losses)		299		6,955,620		20,562,445
Net change in unrealized appreciation (depreciation)		2,852		13,264,132		17,701,255
Net realized and change in unrealized gains (losses)		3,151		20,219,752		38,263,700
Net increase (decrease) in net assets from operations	$	2,970	$	20,135,214	$	36,210,861

The accompanying notes are an integral part of these financial statements.

- 18 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		F88		FB9		F15
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	41,047	$	208,103	$	331,863
Expenses:
Mortality and expense risk charges		(31,556)		(148,454)		(235,321)
Distribution and administration charges		(11,160)		(51,070)		(77,027)
Net investment income (loss)		(1,669)		8,579		19,515
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		32,469		209,038		517,324
Realized gain distributions		105,893		861,081		1,061,400
Net realized gains (losses)		138,362		1,070,119		1,578,724
Net change in unrealized appreciation (depreciation)		178,241		669,304		1,527,161
Net realized and change in unrealized gains (losses)		316,603		1,739,423		3,105,885
Net increase (decrease) in net assets from operations	$	314,934	$	1,748,002	$	3,125,400

The accompanying notes are an integral part of these financial statements.

- 19 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		F41		FE3		T21
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	517,912	$	679,101	$	202,829
Expenses:
Mortality and expense risk charges		(980,495)		(2,782,354)		(261,034)
Distribution and administration charges		(331,008)		(892,026)		(90,497)
Net investment income (loss)		(793,591)		(2,995,279)		(148,702)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(2,529,305)		(5,239,074)		739,656
Realized gain distributions		9,283,963		7,362,449		-
Net realized gains (losses)		6,754,658		2,123,375		739,656
Net change in unrealized appreciation (depreciation)		9,323,427		33,329,453		3,955,027
Net realized and change in unrealized gains (losses)		16,078,085		35,452,828		4,694,683
Net increase (decrease) in net assets from operations	$	15,284,494	$	32,457,549	$	4,545,981

The accompanying notes are an integral part of these financial statements.

- 20 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		T20		FE6		T59
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	1,352,674	$	923,874	$	300,247
Expenses:
Mortality and expense risk charges		(977,870)		(324,819)		(57,491)
Distribution and administration charges		(372,562)		(102,464)		(23,723)
Net investment income (loss)		2,242		496,591		219,033
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(1,246,223)		(52,645)		(34,844)
Realized gain distributions		807,401		1,703,218		-
Net realized gains (losses)		(438,822)		1,650,573		(34,844)
Net change in unrealized appreciation (depreciation)		8,345,887		2,127,360		(164,682)
Net realized and change in unrealized gains (losses)		7,907,065		3,777,933		(199,526)
Net increase (decrease) in net assets from operations	$	7,909,307	$	4,274,524	$	19,507

The accompanying notes are an integral part of these financial statements.

- 21 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		F56		F59		FF0
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	399,185	$	2,992,771	$	80,257
Expenses:
Mortality and expense risk charges		(184,245)		(703,770)		(19,142)
Distribution and administration charges		(64,043)		(231,010)		(5,807)
Net investment income (loss)		150,897		2,057,991		55,308
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(676,445)		(222,539)		18,026
Realized gain distributions		2,742,217		904,526		24,710
Net realized gains (losses)		2,065,772		681,987		42,736
Net change in unrealized appreciation (depreciation)		(362,298)		4,947,386		133,681
Net realized and change in unrealized gains (losses)		1,703,474		5,629,373		176,417
Net increase (decrease) in net assets from operations	$	1,854,371	$	7,687,364	$	231,725

The accompanying notes are an integral part of these financial statements.

- 22 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		F54		FG8		F53
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	2,184,955	$	3,720	$	242,085
Expenses:
Mortality and expense risk charges		(1,538,837)		(3,112)		(284,168)
Distribution and administration charges		(506,462)		(971)		(99,972)
Net investment income (loss)		139,656		(363)		(142,055)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		3,855,630		(11,920)		(1,538,446)
Realized gain distributions		11,683,042		20,908		3,856,572
Net realized gains (losses)		15,538,672		8,988		2,318,126
Net change in unrealized appreciation (depreciation)		7,202,452		38,793		2,835,195
Net realized and change in unrealized gains (losses)		22,741,124		47,781		5,153,321
Net increase (decrease) in net assets from operations	$	22,880,780	$	47,418	$	5,011,266

The accompanying notes are an integral part of these financial statements.

- 23 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		FJ9		T28		FJ0
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	3,571	$	647,363	$	8,028
Expenses:
Mortality and expense risk charges		(3,867)		(156,769)		(2,006)
Distribution and administration charges		(1,494)		(55,204)		(635)
Net investment income (loss)		(1,790)		435,390		5,387
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(49,509)		(283,096)		(5,902)
Realized gain distributions		63,357		-		-
Net realized gains (losses)		13,848		(283,096)		(5,902)
Net change in unrealized appreciation (depreciation)		57,431		632,479		12,705
Net realized and change in unrealized gains (losses)		71,279		349,383		6,803
Net increase (decrease) in net assets from operations	$	69,489	$	784,773	$	12,190

The accompanying notes are an integral part of these financial statements.

- 24 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		G03		H24		H32
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	362	$	21,359	$	-
Expenses:
Mortality and expense risk charges		(49)		(9,246)		(11,977)
Distribution and administration charges		(20)		(3,126)		(4,190)
Net investment income (loss)		293		8,987		(16,167)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		12		(22,842)		(42,335)
Realized gain distributions		1,265		-		208,439
Net realized gains (losses)		1,277		(22,842)		166,104
Net change in unrealized appreciation (depreciation)		115		60,335		64,584
Net realized and change in unrealized gains (losses)		1,392		37,493		230,688
Net increase (decrease) in net assets from operations	$	1,685	$	46,480	$	214,521

The accompanying notes are an integral part of these financial statements.

- 25 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		V35		V13		V11
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	22,148	$	412,806	$	2,035,389
Expenses:
Mortality and expense risk charges		(66,461)		(308,697)		(1,097,319)
Distribution and administration charges		(23,477)		(105,099)		(350,383)
Net investment income (loss)		(67,790)		(990)		587,687
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(118,914)		(153,610)		(1,043,161)
Realized gain distributions		393,568		3,152,144		6,344,088
Net realized gains (losses)		274,654		2,998,534		5,300,927
Net change in unrealized appreciation (depreciation)		879,227		2,129,231		9,074,976
Net realized and change in unrealized gains (losses)		1,153,881		5,127,765		14,375,903
Net increase (decrease) in net assets from operations	$	1,086,091	$	5,126,775	$	14,963,590

The accompanying notes are an integral part of these financial statements.

- 26 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		AC1		J88		J94
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	30,282	$	951,868	$	89,979
Expenses:
Mortality and expense risk charges		(32,068)		(494,895)		(178,379)
Distribution and administration charges		(9,766)		(155,363)		(56,006)
Net investment income (loss)		(11,552)		301,610		(144,406)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		49,241		(74,563)		451,216
Realized gain distributions		152,205		-		1,028,826
Net realized gains (losses)		201,446		(74,563)		1,480,042
Net change in unrealized appreciation (depreciation)		387,748		2,153,039		2,346,047
Net realized and change in unrealized gains (losses)		589,194		2,078,476		3,826,089
Net increase (decrease) in net assets from operations	$	577,642	$	2,380,086	$	3,681,683

The accompanying notes are an integral part of these financial statements.

- 27 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		L11		L18		L17
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	274,876	$	-	$	385,355
Expenses:
Mortality and expense risk charges		(382,467)		(275,299)		(408,075)
Distribution and administration charges		(128,634)		(103,454)		(140,080)
Net investment income (loss)		(236,225)		(378,753)		(162,800)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		216,081		(491,855)		(1,603,029)
Realized gain distributions		-		1,981,410		783,134
Net realized gains (losses)		216,081		1,489,555		(819,895)
Net change in unrealized appreciation (depreciation)		4,748,459		5,293,168		6,717,165
Net realized and change in unrealized gains (losses)		4,964,540		6,782,723		5,897,270
Net increase (decrease) in net assets from operations	$	4,728,315	$	6,403,970	$	5,734,470

The accompanying notes are an integral part of these financial statements.

- 28 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		M07		M35		M31
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	7,081,231	$	6,047,457	$	-
Expenses:
Mortality and expense risk charges		(3,717,073)		(3,560,796)		(1,804,705)
Distribution and administration charges		(554,021)		(1,181,304)		(296,954)
Net investment income (loss)		2,810,137		1,305,357		(2,101,659)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		3,224,356		3,792,855		12,500,534
Realized gain distributions		8,060,058		7,731,866		12,699,851
Net realized gains (losses)		11,284,414		11,524,721		25,200,385
Net change in unrealized appreciation (depreciation)		38,023,976		35,380,547		21,375,801
Net realized and change in unrealized gains (losses)		49,308,390		46,905,268		46,576,186
Net increase (decrease) in net assets from operations	$	52,118,527	$	48,210,625	$	44,474,527

The accompanying notes are an integral part of these financial statements.

- 29 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		M80		MF1		M41
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	-	$	-	$	-
Expenses:
Mortality and expense risk charges		(254,957)		(281,497)		(314,694)
Distribution and administration charges		(93,934)		(58,531)		(110,245)
Net investment income (loss)		(348,891)		(340,028)		(424,939)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		1,654,338		1,027,295		939,177
Realized gain distributions		1,878,055		2,978,075		3,426,547
Net realized gains (losses)		3,532,393		4,005,370		4,365,724
Net change in unrealized appreciation (depreciation)		3,209,092		3,422,127		3,846,452
Net realized and change in unrealized gains (losses)		6,741,485		7,427,497		8,212,176
Net increase (decrease) in net assets from operations	$	6,392,594	$	7,087,469	$	7,787,237

The accompanying notes are an integral part of these financial statements.

- 30 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		M05		M42		M89
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	-	$	-	$	13,994,861
Expenses:
Mortality and expense risk charges		(614,668)		(444,962)		(5,374,543)
Distribution and administration charges		(128,845)		(165,788)		(1,703,198)
Net investment income (loss)		(743,513)		(610,750)		6,917,120
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		443,449		1,873,138		(1,294,208)
Realized gain distributions		9,132,191		6,916,160		-
Net realized gains (losses)		9,575,640		8,789,298		(1,294,208)
Net change in unrealized appreciation (depreciation)		7,809,540		3,759,741		29,519,797
Net realized and change in unrealized gains (losses)		17,385,180		12,549,039		28,225,589
Net increase (decrease) in net assets from operations	$	16,641,667	$	11,938,289	$	35,142,709

The accompanying notes are an integral part of these financial statements.

- 31 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		M82		M44		M40
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	680,489	$	3,942,968	$	1,838,637
Expenses:
Mortality and expense risk charges		(1,473,624)		(1,210,611)		(607,330)
Distribution and administration charges		(480,825)		(210,784)		(211,541)
Net investment income (loss)		(1,273,960)		2,521,573		1,019,766
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		5,179,396		(1,091,780)		972,263
Realized gain distributions		11,904,875		289,538		145,633
Net realized gains (losses)		17,084,271		(802,242)		1,117,896
Net change in unrealized appreciation (depreciation)		14,996,133		18,956,238		8,116,274
Net realized and change in unrealized gains (losses)		32,080,404		18,153,996		9,234,170
Net increase (decrease) in net assets from operations	$	30,806,444	$	20,675,569	$	10,253,936

The accompanying notes are an integral part of these financial statements.

- 32 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		M83		M08		MB6
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	4,557,001	$	1,948,381	$	3,582,421
Expenses:
Mortality and expense risk charges		(2,700,578)		(1,287,156)		(2,976,851)
Distribution and administration charges		(791,580)		(443,726)		(481,940)
Net investment income (loss)		1,064,843		217,499		123,630
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		7,427,772		123,222		18,304,969
Realized gain distributions		9,590,957		4,681,544		18,079,163
Net realized gains (losses)		17,018,729		4,804,766		36,384,132
Net change in unrealized appreciation (depreciation)		34,673,474		20,169,467		21,892,323
Net realized and change in unrealized gains (losses)		51,692,203		24,974,233		58,276,455
Net increase (decrease) in net assets from operations	$	52,757,046	$	25,191,732	$	58,400,085

The accompanying notes are an integral part of these financial statements.

- 33 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MB7		MC0		MA0
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	731,235	$	1,869,706	$	4,238,840
Expenses:
Mortality and expense risk charges		(730,696)		(598,747)		(1,478,066)
Distribution and administration charges		(275,671)		(112,268)		(467,613)
Net investment income (loss)		(275,132)		1,158,691		2,293,161
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		4,405,201		(289,863)		(438,794)
Realized gain distributions		4,442,609		-		-
Net realized gains (losses)		8,847,810		(289,863)		(438,794)
Net change in unrealized appreciation (depreciation)		5,301,682		5,159,392		12,285,001
Net realized and change in unrealized gains (losses)		14,149,492		4,869,529		11,846,207
Net increase (decrease) in net assets from operations	$	13,874,360	$	6,028,220	$	14,139,368

The accompanying notes are an integral part of these financial statements.

- 34 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MC2		MC1		MC3
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	758,576	$	213,886	$	105,942
Expenses:
Mortality and expense risk charges		(1,159,126)		(480,513)		(195,394)
Distribution and administration charges		(220,757)		(171,619)		(36,372)
Net investment income (loss)		(621,307)		(438,246)		(125,824)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		8,728,882		1,372,566		166,340
Realized gain distributions		12,379,441		5,081,762		501,484
Net realized gains (losses)		21,108,323		6,454,328		667,824
Net change in unrealized appreciation (depreciation)		5,216,051		4,325,042		2,215,434
Net realized and change in unrealized gains (losses)		26,324,374		10,779,370		2,883,258
Net increase (decrease) in net assets from operations	$	25,703,067	$	10,341,124	$	2,757,434

The accompanying notes are an integral part of these financial statements.

- 35 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MA1		MC4		MC5
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	61,696	$	225,375	$	16,765
Expenses:
Mortality and expense risk charges		(194,792)		(111,643)		(9,515)
Distribution and administration charges		(67,378)		(20,188)		(3,447)
Net investment income (loss)		(200,474)		93,544		3,803
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		593,324		(70,361)		1,636
Realized gain distributions		504,805		-		-
Net realized gains (losses)		1,098,129		(70,361)		1,636
Net change in unrealized appreciation (depreciation)		1,821,414		389,041		24,296
Net realized and change in unrealized gains (losses)		2,919,543		318,680		25,932
Net increase (decrease) in net assets from operations	$	2,719,069	$	412,224	$	29,735

The accompanying notes are an integral part of these financial statements.

- 36 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MC6		MC7		MC8
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	252,809	$	5,179	$	840,614
Expenses:
Mortality and expense risk charges		(560,543)		(21,734)		(982,831)
Distribution and administration charges		(86,178)		(9,214)		(143,839)
Net investment income (loss)		(393,912)		(25,769)		(286,056)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		4,653,270		111,332		7,352,730
Realized gain distributions		4,855,340		208,538		6,755,725
Net realized gains (losses)		9,508,610		319,870		14,108,455
Net change in unrealized appreciation (depreciation)		4,100,002		258,452		7,052,565
Net realized and change in unrealized gains (losses)		13,608,612		578,322		21,161,020
Net increase (decrease) in net assets from operations	$	13,214,700	$	552,553	$	20,874,964

The accompanying notes are an integral part of these financial statements.

- 37 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MC9		MD0		M92
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	36,083	$	1,145,228	$	13,320,895
Expenses:
Mortality and expense risk charges		(57,735)		(511,688)		(6,306,231)
Distribution and administration charges		(18,290)		(79,299)		(1,988,322)
Net investment income (loss)		(39,942)		554,241		5,026,342
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		402,737		1,212,722		6,358,764
Realized gain distributions		399,263		929,091		12,018,048
Net realized gains (losses)		802,000		2,141,813		18,376,812
Net change in unrealized appreciation (depreciation)		489,821		2,378,266		38,714,473
Net realized and change in unrealized gains (losses)		1,291,821		4,520,079		57,091,285
Net increase (decrease) in net assets from operations	$	1,251,879	$	5,074,320	$	62,117,627

The accompanying notes are an integral part of these financial statements.

- 38 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		M96		MD2		MA6
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	2,231,586	$	4,070,640	$	2,752,061
Expenses:
Mortality and expense risk charges		(906,769)		(1,865,231)		(600,475)
Distribution and administration charges		(162,599)		(628,463)		(105,254)
Net investment income (loss)		1,162,218		1,576,946		2,046,332
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(1,278,668)		(1,178,920)		(635,045)
Realized gain distributions		-		-		-
Net realized gains (losses)		(1,278,668)		(1,178,920)		(635,045)
Net change in unrealized appreciation (depreciation)		3,781,989		6,531,642		4,657,175
Net realized and change in unrealized gains (losses)		2,503,321		5,352,722		4,022,130
Net increase (decrease) in net assets from operations	$	3,665,539	$	6,929,668	$	6,068,462

The accompanying notes are an integral part of these financial statements.

- 39 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MA3		M97		MD5
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	1,950,126	$	411,680	$	153,499
Expenses:
Mortality and expense risk charges		(453,357)		(420,035)		(194,345)
Distribution and administration charges		(166,339)		(84,275)		(66,173)
Net investment income (loss)		1,330,430		(92,630)		(107,019)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(472,005)		1,147,415		285,880
Realized gain distributions		-		3,689,439		1,700,991
Net realized gains (losses)		(472,005)		4,836,854		1,986,871
Net change in unrealized appreciation (depreciation)		3,452,945		3,109,153		1,655,050
Net realized and change in unrealized gains (losses)		2,980,940		7,946,007		3,641,921
Net increase (decrease) in net assets from operations	$	4,311,370	$	7,853,377	$	3,534,902

The accompanying notes are an integral part of these financial statements.

- 40 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		M98		M93		MD6
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	739,811	$	1,172,660	$	1,812,369
Expenses:
Mortality and expense risk charges		(493,649)		(1,040,293)		(3,824,920)
Distribution and administration charges		(85,986)		(356,848)		(617,061)
Net investment income (loss)		160,176		(224,481)		(2,629,612)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		4,019,684		8,404,873		29,860,170
Realized gain distributions		1,214,007		2,458,206		24,212,419
Net realized gains (losses)		5,233,691		10,863,079		54,072,589
Net change in unrealized appreciation (depreciation)		3,321,340		6,894,434		47,665,760
Net realized and change in unrealized gains (losses)		8,555,031		17,757,513		101,738,349
Net increase (decrease) in net assets from operations	$	8,715,207	$	17,533,032	$	99,108,737

The accompanying notes are an integral part of these financial statements.

- 41 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MB3		MD8		MD9
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	116,194	$	653,153	$	1,885,817
Expenses:
Mortality and expense risk charges		(412,793)		(492,008)		(1,435,340)
Distribution and administration charges		(161,809)		(75,794)		(489,532)
Net investment income (loss)		(458,408)		85,351		(39,055)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		2,790,692		-		-
Realized gain distributions		2,682,539		-		-
Net realized gains (losses)		5,473,231		-		-
Net change in unrealized appreciation (depreciation)		5,776,033		-		-
Net realized and change in unrealized gains (losses)		11,249,264		-		-
Net increase (decrease) in net assets from operations	$	10,790,856	$	85,351	$	(39,055)

The accompanying notes are an integral part of these financial statements.

- 42 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		ME2		ME3		MA5
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	282,109	$	458,594	$	882,689
Expenses:
Mortality and expense risk charges		(229,453)		(482,583)		(305,021)
Distribution and administration charges		(48,884)		(171,876)		(56,829)
Net investment income (loss)		3,772		(195,865)		520,839
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		754,435		1,185,041		(90,709)
Realized gain distributions		806,986		1,595,820		-
Net realized gains (losses)		1,561,421		2,780,861		(90,709)
Net change in unrealized appreciation (depreciation)		2,914,964		6,166,935		1,947,006
Net realized and change in unrealized gains (losses)		4,476,385		8,947,796		1,856,297
Net increase (decrease) in net assets from operations	$	4,480,157	$	8,751,931	$	2,377,136

The accompanying notes are an integral part of these financial statements.

- 43 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MA7		ME4		MA2
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	131,203	$	-	$	-
Expenses:
Mortality and expense risk charges		(47,680)		(216,134)		(18,564)
Distribution and administration charges		(16,467)		(46,219)		(7,023)
Net investment income (loss)		67,056		(262,353)		(25,587)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(16,697)		2,574,164		161,599
Realized gain distributions		-		1,828,477		174,983
Net realized gains (losses)		(16,697)		4,402,641		336,582
Net change in unrealized appreciation (depreciation)		321,429		1,059,864		136,559
Net realized and change in unrealized gains (losses)		304,732		5,462,505		473,141
Net increase (decrease) in net assets from operations	$	371,788	$	5,200,152	$	447,554

The accompanying notes are an integral part of these financial statements.

- 44 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MF3		MF5		MF6
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	250,443	$	9,782,801	$	64,718
Expenses:
Mortality and expense risk charges		(668,769)		(5,130,549)		(21,899)
Distribution and administration charges		(228,850)		(1,663,487)		(9,579)
Net investment income (loss)		(647,176)		2,988,765		33,240
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(760,978)		(2,044,458)		79,515
Realized gain distributions		8,750,623		20,396,022		11,386
Net realized gains (losses)		7,989,645		18,351,564		90,901
Net change in unrealized appreciation (depreciation)		4,231,927		35,726,802		265,482
Net realized and change in unrealized gains (losses)		12,221,572		54,078,366		356,383
Net increase (decrease) in net assets from operations	$	11,574,396	$	57,067,131	$	389,623

The accompanying notes are an integral part of these financial statements.

- 45 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MF7		MF9		MG1
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	1,441,983	$	6,438,699	$	1,671,391
Expenses:
Mortality and expense risk charges		(643,535)		(4,062,700)		(1,465,956)
Distribution and administration charges		(229,425)		(1,304,292)		(477,367)
Net investment income (loss)		569,023		1,071,707		(271,932)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		2,433,072		2,723,943		(412,851)
Realized gain distributions		278,310		30,022,100		-
Net realized gains (losses)		2,711,382		32,746,043		(412,851)
Net change in unrealized appreciation (depreciation)		7,890,371		37,179,675		8,180,523
Net realized and change in unrealized gains (losses)		10,601,753		69,925,718		7,767,672
Net increase (decrease) in net assets from operations	$	11,170,776	$	70,997,425	$	7,495,740

The accompanying notes are an integral part of these financial statements.

- 46 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MF2		MG2		MG3
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	5,223,853	$	2,649,314	$	310,503
Expenses:
Mortality and expense risk charges		(2,509,417)		(1,369,294)		(312,533)
Distribution and administration charges		(897,113)		(441,126)		(119,504)
Net investment income (loss)		1,817,323		838,894		(121,534)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		12,600		70,113		(536,853)
Realized gain distributions		-		-		2,045,216
Net realized gains (losses)		12,600		70,113		1,508,363
Net change in unrealized appreciation (depreciation)		4,852,171		2,583,630		4,830,956
Net realized and change in unrealized gains (losses)		4,864,771		2,653,743		6,339,319
Net increase (decrease) in net assets from operations	$	6,682,094	$	3,492,637	$	6,217,785

The accompanying notes are an integral part of these financial statements.

- 47 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		MG4		MG6		MG7
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	209,785	$	28,981,888	$	40,585
Expenses:
Mortality and expense risk charges		(267,594)		(16,137,147)		(95,957)
Distribution and administration charges		(85,124)		(5,218,652)		(31,312)
Net investment income (loss)		(142,933)		7,626,089		(86,684)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(237,998)		18,046,923		(258,308)
Realized gain distributions		1,813,187		89,967,222		1,203,634
Net realized gains (losses)		1,575,189		108,014,145		945,326
Net change in unrealized appreciation (depreciation)		4,031,740		121,640,903		1,230,783
Net realized and change in unrealized gains (losses)		5,606,929		229,655,048		2,176,109
Net increase (decrease) in net assets from operations	$	5,463,996	$	237,281,137	$	2,089,425

The accompanying notes are an integral part of these financial statements.

- 48 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		V44		V43		O19
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	-	$	-	$	-
Expenses:
Mortality and expense risk charges		(143,600)		(94,933)		(170,103)
Distribution and administration charges		(47,842)		(30,536)		(68,729)
Net investment income (loss)		(191,442)		(125,469)		(238,832)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		380,081		697,441		(105,251)
Realized gain distributions		657,213		1,055,600		1,369,098
Net realized gains (losses)		1,037,294		1,753,041		1,263,847
Net change in unrealized appreciation (depreciation)		1,960,842		789,341		2,926,219
Net realized and change in unrealized gains (losses)		2,998,136		2,542,382		4,190,066
Net increase (decrease) in net assets from operations	$	2,806,694	$	2,416,913	$	3,951,234

The accompanying notes are an integral part of these financial statements.

- 49 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		O23		O20		O21
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	218,641	$	97,675	$	1,252,671
Expenses:
Mortality and expense risk charges		(136,686)		(193,820)		(1,948,634)
Distribution and administration charges		(41,190)		(67,741)		(720,533)
Net investment income (loss)		40,765		(163,886)		(1,416,496)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		278,353		247,083		8,338,429
Realized gain distributions		175,774		2,205,847		24,849,733
Net realized gains (losses)		454,127		2,452,930		33,188,162
Net change in unrealized appreciation (depreciation)		1,036,159		1,782,214		7,743,862
Net realized and change in unrealized gains (losses)		1,490,286		4,235,144		40,932,024
Net increase (decrease) in net assets from operations	$	1,531,051	$	4,071,258	$	39,515,528

The accompanying notes are an integral part of these financial statements.

- 50 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		O04		PH2		P08
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	-	$	5,661	$	491,035
Expenses:
Mortality and expense risk charges		(58,468)		(4,862)		(210,955)
Distribution and administration charges		(24,374)		(1,300)		(72,699)
Net investment income (loss)		(82,842)		(501)		207,381
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(66,782)		(19,837)		(78,054)
Realized gain distributions		450,053		-		-
Net realized gains (losses)		383,271		(19,837)		(78,054)
Net change in unrealized appreciation (depreciation)		712,934		106,721		1,472,575
Net realized and change in unrealized gains (losses)		1,096,205		86,884		1,394,521
Net increase (decrease) in net assets from operations	$	1,013,363	$	86,383	$	1,601,902

The accompanying notes are an integral part of these financial statements.

- 51 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		PC0		P70		P10
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	422,029	$	10,846	$	1,036,804
Expenses:
Mortality and expense risk charges		(182,964)		(2,910)		(287,981)
Distribution and administration charges		(58,384)		(1,085)		(96,064)
Net investment income (loss)		180,681		6,851		652,759
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(169,165)		(28,719)		(1,800,207)
Realized gain distributions		-		-		-
Net realized gains (losses)		(169,165)		(28,719)		(1,800,207)
Net change in unrealized appreciation (depreciation)		1,456,580		47,589		3,255,539
Net realized and change in unrealized gains (losses)		1,287,415		18,870		1,455,332
Net increase (decrease) in net assets from operations	$	1,468,096	$	25,721	$	2,108,091

The accompanying notes are an integral part of these financial statements.

- 52 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		PK8		P20		PD6
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	352,072	$	11,566	$	7,963,414
Expenses:
Mortality and expense risk charges		(97,030)		(3,088)		(4,715,103)
Distribution and administration charges		(35,050)		(1,179)		(1,494,404)
Net investment income (loss)		219,992		7,299		1,753,907
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(87,696)		(18,985)		(3,091,629)
Realized gain distributions		-		-		-
Net realized gains (losses)		(87,696)		(18,985)		(3,091,629)
Net change in unrealized appreciation (depreciation)		827,881		48,575		55,980,825
Net realized and change in unrealized gains (losses)		740,185		29,590		52,889,196
Net increase (decrease) in net assets from operations	$	960,177	$	36,889	$	54,643,103

The accompanying notes are an integral part of these financial statements.

- 53 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		P06		P07		P68
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	554,384	$	4,142,192	$	28
Expenses:
Mortality and expense risk charges		(423,060)		(1,745,987)		(8)
Distribution and administration charges		(144,433)		(605,442)		(3)
Net investment income (loss)		(13,109)		1,790,763		17
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(725,895)		(1,382,694)		(6)
Realized gain distributions		-		-		-
Net realized gains (losses)		(725,895)		(1,382,694)		(6)
Net change in unrealized appreciation (depreciation)		2,901,183		8,406,563		(25)
Net realized and change in unrealized gains (losses)		2,175,288		7,023,869		(31)
Net increase (decrease) in net assets from operations	$	2,162,179	$	8,814,632	$	(14)

The accompanying notes are an integral part of these financial statements.

- 54 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		PI3		P72		P95
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	-	$	274,142	$	-
Expenses:
Mortality and expense risk charges		(186,121)		(165,667)		(18)
Distribution and administration charges		(58,708)		(55,865)		(7)
Net investment income (loss)		(244,829)		52,610		(25)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		(88,411)		313,106		-
Realized gain distributions		-		1,171,568		-
Net realized gains (losses)		(88,411)		1,484,674		-
Net change in unrealized appreciation (depreciation)		990,098		1,746,855		111
Net realized and change in unrealized gains (losses)		901,687		3,231,529		111
Net increase (decrease) in net assets from operations	$	656,858	$	3,284,139	$	86

The accompanying notes are an integral part of these financial statements.

- 55 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF OPERATIONS (CONTINUED)

FOR THE YEAR ENDED DECEMBER 31, 2019

		P79		W41		W42
		Sub-Account		Sub-Account		Sub-Account
Income:
Dividend income	$	-	$	191	$	94
Expenses:
Mortality and expense risk charges		(58)		(3,289)		(477)
Distribution and administration charges		(23)		(986)		(155)
Net investment income (loss)		(81)		(4,084)		(538)
Net realized and change in unrealized gains (losses):
Net realized gains (losses) on sale of investments		29		(13,575)		(799)
Realized gain distributions		-		34,972		6,353
Net realized gains (losses)		29		21,397		5,554
Net change in unrealized appreciation (depreciation)		1,919		42,687		4,003
Net realized and change in unrealized gains (losses)		1,948		64,084		9,557
Net increase (decrease) in net assets from operations	$	1,867	$	60,000	$	9,019

The accompanying notes are an integral part of these financial statements.

- 56 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		AL1 Sub-Account				AO5 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	258,275	$	2,404	$	136,198	$	(9,555)
Net realized gains (losses)		3,398,243		1,915,154		1,821,117		2,636,100
Net change in unrealized appreciation/(depreciation)		2,188,551		(5,255,416)		7,340,627		(10,100,798)
Increase (decrease) in net assets from operations		5,845,069		(3,337,858)		9,297,942		(7,474,253)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		634,100		394,253		506,046		417,148
Transfers between Sub-Accounts
(including the Fixed Account), net		(656,419)		(1,084,323)		(727,344)		912,942
Withdrawals, surrenders, annuitizations
and contract charges		(5,869,993)		(7,819,516)		(10,597,645)		(13,996,121)
Net accumulation activity		(5,892,312)		(8,509,586)		(10,818,943)		(12,666,031)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		(5,892,312)		(8,509,586)		(10,818,943)		(12,666,031)
Total increase (decrease) in net assets		(47,243)		(11,847,444)		(1,521,001)		(20,140,284)
Net assets at beginning of year		37,903,067		49,750,511		73,598,916		93,739,200
Net assets at end of year	$	37,855,824	$	37,903,067	$	72,077,915	$	73,598,916

The accompanying notes are an integral part of these financial statements.

- 57 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		AM2 Sub-Account				A98 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(60,337)	$	(61,511)	$	(244,132)	$	(195,268)
Net realized gains (losses)		260,074		200,642		389,132		1,740,925
Net change in unrealized appreciation/(depreciation)		787,565		(1,113,581)		3,647,301		(9,685,602)
Increase (decrease) in net assets from operations		987,302		(974,450)		3,792,301		(8,139,945)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		4,456		3,627		473,057		533,024
Transfers between Sub-Accounts
(including the Fixed Account), net		(379,632)		643,064		505,607		4,899,754
Withdrawals, surrenders, annuitizations
and contract charges		(583,324)		(694,194)		(4,220,643)		(6,141,657)
Net accumulation activity		(958,500)		(47,503)		(3,241,979)		(708,879)
Annuitization Activity:
Annuitizations		-		-		-		149,843
Annuity payments and contract charges		-		-		(13,804)		(16,768)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		26		(56)
Net annuitization activity		-		-		(13,778)		133,019
Net increase (decrease) from contract owner transactions		(958,500)		(47,503)		(3,255,757)		(575,860)
Total increase (decrease) in net assets		28,802		(1,021,953)		536,544		(8,715,805)
Net assets at beginning of year		4,303,059		5,325,012		26,841,883		35,557,688
Net assets at end of year	$	4,331,861	$	4,303,059	$	27,378,427	$	26,841,883

The accompanying notes are an integral part of these financial statements.

- 58 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		AC4 Sub-Account				A74 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(312)	$	-	$	(168,758)	$	(187,386)
Net realized gains (losses)		5,420		-		1,169,478		1,171,525
Net change in unrealized appreciation/(depreciation)		684		-		968,916		(3,063,412)
Increase (decrease) in net assets from operations		5,792		-		1,969,636		(2,079,273)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		71,502		-		198,126		104,597
Transfers between Sub-Accounts
(including the Fixed Account), net		13,263		-		464,916		1,581,249
Withdrawals, surrenders, annuitizations
and contract charges		(236)		-		(1,255,034)		(1,791,077)
Net accumulation activity		84,529		-		(591,992)		(105,231)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		(1,692)		(3,683)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		281		2,325
Net annuitization activity		-		-		(1,411)		(1,358)
Net increase (decrease) from contract owner transactions		84,529		-		(593,403)		(106,589)
Total increase (decrease) in net assets		90,321		-		1,376,233		(2,185,862)
Net assets at beginning of year		-		-		11,122,134		13,307,996
Net assets at end of year	$	90,321	$	-	$	12,498,367	$	11,122,134

The accompanying notes are an integral part of these financial statements.

- 59 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		AP0 Sub-Account				AQ1 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(7)	$	-	$	35	$	-
Net realized gains (losses)		562		-		3		-
Net change in unrealized appreciation/(depreciation)		9,414		-		110		-
Increase (decrease) in net assets from operations		9,969		-		148		-
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		105,899		-		-		-
Transfers between Sub-Accounts
(including the Fixed Account), net		4,357		-		6,961		-
Withdrawals, surrenders, annuitizations
and contract charges		(349)		-		-		-
Net accumulation activity		109,907		-		6,961		-
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		109,907		-		6,961		-
Total increase (decrease) in net assets		119,876		-		7,109		-
Net assets at beginning of year		-		-		-		-
Net assets at end of year	$	119,876	$	-	$	7,109	$	-

The accompanying notes are an integral part of these financial statements.

- 60 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		AS3 Sub-Account				AQ3 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	1,090	$	-	$	9	$	-
Net realized gains (losses)		181		-		8		-
Net change in unrealized appreciation/(depreciation)		4,019		-		307		-
Increase (decrease) in net assets from operations		5,290		-		324		-
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		95,000		-		3,500		-
Transfers between Sub-Accounts
(including the Fixed Account), net		13,889		-		(97)		-
Withdrawals, surrenders, annuitizations
and contract charges		-		-		(12)		-
Net accumulation activity		108,889		-		3,391		-
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		108,889		-		3,391		-
Total increase (decrease) in net assets		114,179		-		3,715		-
Net assets at beginning of year		-		-		-		-
Net assets at end of year	$	114,179	$	-	$	3,715	$	-

The accompanying notes are an integral part of these financial statements.

- 61 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		B18 Sub-Account				L33 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(1,651,342)	$	(3,767,490)	$	(65)	$	-
Net realized gains (losses)		15,397,342		22,166,279		210		-
Net change in unrealized appreciation/(depreciation)		44,387,747		(58,588,910)		2,167		-
Increase (decrease) in net assets from operations		58,133,747		(40,190,121)		2,312		-
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		3,725,606		2,896,346		25,595		-
Transfers between Sub-Accounts
(including the Fixed Account), net		(9,728,137)		(2,313,350)		(144)		-
Withdrawals, surrenders, annuitizations
and contract charges		(51,694,414)		(66,821,548)		(138)		-
Net accumulation activity		(57,696,945)		(66,238,552)		25,313		-
Annuitization Activity:
Annuitizations		23,549		-		-		-
Annuity payments and contract charges		(13,508)		(10,484)		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		10,066		(13,268)		-		-
Net annuitization activity		20,107		(23,752)		-		-
Net increase (decrease) from contract owner transactions		(57,676,838)		(66,262,304)		25,313		-
Total increase (decrease) in net assets		456,909		(106,452,425)		27,625		-
Net assets at beginning of year		390,316,328		496,768,753		-		-
Net assets at end of year	$	390,773,237	$	390,316,328	$	27,625	$	-

The accompanying notes are an integral part of these financial statements.

- 62 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		C71 Sub-Account				C59 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(284)	$	(379)	$	(971)	$	(824)
Net realized gains (losses)		1,266		5,535		2,801		3,850
Net change in unrealized appreciation/(depreciation)		2,515		(9,528)		14,041		(4,782)
Increase (decrease) in net assets from operations		3,497		(4,372)		15,871		(1,756)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		-		7,917		-		-
Transfers between Sub-Accounts
(including the Fixed Account), net		100		(143)		10,574		(1,658)
Withdrawals, surrenders, annuitizations
and contract charges		(875)		(20,429)		(2,207)		(9,260)
Net accumulation activity		(775)		(12,655)		8,367		(10,918)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		(775)		(12,655)		8,367		(10,918)
Total increase (decrease) in net assets		2,722		(17,027)		24,238		(12,674)
Net assets at beginning of year		18,507		35,534		41,354		54,028
Net assets at end of year	$	21,229	$	18,507	$	65,592	$	41,354

The accompanying notes are an integral part of these financial statements.

- 63 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		C60 Sub-Account				C89 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(947,184)	$	(1,070,789)	$	(2,738)	$	(1,696)
Net realized gains (losses)		5,523,482		5,693,760		755		12,259
Net change in unrealized appreciation/(depreciation)		11,405,519		(6,709,814)		36,444		(18,210)
Increase (decrease) in net assets from operations		15,981,817		(2,086,843)		34,461		(7,647)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		673,488		827,342		-		-
Transfers between Sub-Accounts
(including the Fixed Account), net		(4,722,438)		(2,482,113)		18,106		59,575
Withdrawals, surrenders, annuitizations
and contract charges		(9,223,283)		(11,109,467)		(5,855)		(4,088)
Net accumulation activity		(13,272,233)		(12,764,238)		12,251		55,487
Annuitization Activity:
Annuitizations		29,104		222,363		-		-
Annuity payments and contract charges		(30,229)		(23,985)		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		(1,722)		769		-		-
Net annuitization activity		(2,847)		199,147		-		-
Net increase (decrease) from contract owner transactions		(13,275,080)		(12,565,091)		12,251		55,487
Total increase (decrease) in net assets		2,706,737		(14,651,934)		46,712		47,840
Net assets at beginning of year		52,539,863		67,191,797		107,634		59,794
Net assets at end of year	$	55,246,600	$	52,539,863	$	154,346	$	107,634

The accompanying notes are an integral part of these financial statements.

- 64 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		C90 Sub-Account				C58 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(287,360)	$	(316,281)	$	5,255	$	46,628
Net realized gains (losses)		1,871,889		1,850,963		724,451		156,167
Net change in unrealized appreciation/(depreciation)		2,765,257		(2,073,444)		261,230		(1,206,332)
Increase (decrease) in net assets from operations		4,349,786		(538,762)		990,936		(1,003,537)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		256,324		453,992		87,849		216,779
Transfers between Sub-Accounts
(including the Fixed Account), net		(916,072)		(253,613)		(220,746)		453,173
Withdrawals, surrenders, annuitizations
and contract charges		(3,037,734)		(3,878,020)		(821,832)		(937,360)
Net accumulation activity		(3,697,482)		(3,677,641)		(954,729)		(267,408)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		(4,120)		4,736		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		956		(14,183)		-		-
Net annuitization activity		(3,164)		(9,447)		-		-
Net increase (decrease) from contract owner transactions		(3,700,646)		(3,687,088)		(954,729)		(267,408)
Total increase (decrease) in net assets		649,140		(4,225,850)		36,207		(1,270,945)
Net assets at beginning of year		15,948,283		20,174,133		4,605,013		5,875,958
Net assets at end of year	$	16,597,423	$	15,948,283	$	4,641,220	$	4,605,013

The accompanying notes are an integral part of these financial statements.

- 65 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		C91 Sub-Account				FD7 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(181)	$	-	$	(84,538)	$	(382,020)
Net realized gains (losses)		299		-		6,955,620		7,880,821
Net change in unrealized appreciation/(depreciation)		2,852		-		13,264,132		(13,129,382)
Increase (decrease) in net assets from operations		2,970		-		20,135,214		(5,630,581)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		27,143		-		734,476		434,228
Transfers between Sub-Accounts
(including the Fixed Account), net		6,265		-		2,719,256		9,691,693
Withdrawals, surrenders, annuitizations
and contract charges		(162)		-		(14,743,854)		(20,723,390)
Net accumulation activity		33,246		-		(11,290,122)		(10,597,469)
Annuitization Activity:
Annuitizations		-		-		-		187,516
Annuity payments and contract charges		-		-		(89)		(192,435)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		36		(4,065)
Net annuitization activity		-		-		(53)		(8,984)
Net increase (decrease) from contract owner transactions		33,246		-		(11,290,175)		(10,606,453)
Total increase (decrease) in net assets		36,216		-		8,845,039		(16,237,034)
Net assets at beginning of year		-		-		93,952,498		110,189,532
Net assets at end of year	$	36,216	$	-	$	102,797,537	$	93,952,498

The accompanying notes are an integral part of these financial statements.

- 66 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		F24 Sub-Account				F88 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(2,052,839)	$	(1,953,233)	$	(1,669)	$	(11,391)
Net realized gains (losses)		20,562,445		27,652,052		138,362		117,206
Net change in unrealized appreciation/(depreciation)		17,701,255		(35,950,898)		178,241		(261,342)
Increase (decrease) in net assets from operations		36,210,861		(10,252,079)		314,934		(155,527)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,379,979		1,708,942		3		1,601
Transfers between Sub-Accounts
(including the Fixed Account), net		(8,403,283)		(2,503,995)		212,399		89,345
Withdrawals, surrenders, annuitizations
and contract charges		(20,351,932)		(30,116,013)		(646,449)		(421,565)
Net accumulation activity		(27,375,236)		(30,911,066)		(434,047)		(330,619)
Annuitization Activity:
Annuitizations		72,677		-		-		-
Annuity payments and contract charges		(23,376)		(16,514)		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		18,523		(9,293)		-		-
Net annuitization activity		67,824		(25,807)		-		-
Net increase (decrease) from contract owner transactions		(27,307,412)		(30,936,873)		(434,047)		(330,619)
Total increase (decrease) in net assets		8,903,449		(41,188,952)		(119,113)		(486,146)
Net assets at beginning of year		133,455,014		174,643,966		2,352,321		2,838,467
Net assets at end of year	$	142,358,463	$	133,455,014	$	2,233,208	$	2,352,321

The accompanying notes are an integral part of these financial statements.

- 67 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		FB9 Sub-Account				F15 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	8,579	$	(50,984)	$	19,515	$	(95,412)
Net realized gains (losses)		1,070,119		932,416		1,578,724		1,749,406
Net change in unrealized appreciation/(depreciation)		669,304		(1,756,402)		1,527,161		(3,220,009)
Increase (decrease) in net assets from operations		1,748,002		(874,970)		3,125,400		(1,566,015)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		423,578		49,886		91,612		91,187
Transfers between Sub-Accounts
(including the Fixed Account), net		640,884		387,533		(13,515)		235,770
Withdrawals, surrenders, annuitizations
and contract charges		(2,351,876)		(2,255,879)		(2,368,849)		(3,647,535)
Net accumulation activity		(1,287,414)		(1,818,460)		(2,290,752)		(3,320,578)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		(1,287,414)		(1,818,460)		(2,290,752)		(3,320,578)
Total increase (decrease) in net assets		460,588		(2,693,430)		834,648		(4,886,593)
Net assets at beginning of year		11,440,547		14,133,977		18,320,292		23,206,885
Net assets at end of year	$	11,901,135	$	11,440,547	$	19,154,940	$	18,320,292

The accompanying notes are an integral part of these financial statements.

- 68 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		F41 Sub-Account				FE3 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(793,591)	$	(1,173,636)	$	(2,995,279)	$	1,201,147
Net realized gains (losses)		6,754,658		10,675,021		2,123,375		12,481,080
Net change in unrealized appreciation/(depreciation)		9,323,427		(22,903,360)		33,329,453		(45,025,288)
Increase (decrease) in net assets from operations		15,284,494		(13,401,975)		32,457,549		(31,343,061)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,041,115		1,047,954		2,049,780		2,284,518
Transfers between Sub-Accounts
(including the Fixed Account), net		(1,247,656)		2,823,647		(5,245,049)		8,658,751
Withdrawals, surrenders, annuitizations
and contract charges		(14,494,177)		(16,887,452)		(32,806,123)		(42,602,901)
Net accumulation activity		(14,700,718)		(13,015,851)		(36,001,392)		(31,659,632)
Annuitization Activity:
Annuitizations		64,694		16,490		92,008		-
Annuity payments and contract charges		(14,854)		(10,320)		(14,461)		(8,321)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		436		1,136		398		336
Net annuitization activity		50,276		7,306		77,945		(7,985)
Net increase (decrease) from contract owner transactions		(14,650,442)		(13,008,545)		(35,923,447)		(31,667,617)
Total increase (decrease) in net assets		634,052		(26,410,520)		(3,465,898)		(63,010,678)
Net assets at beginning of year		76,689,077		103,099,597		223,656,663		286,667,341
Net assets at end of year	$	77,323,129	$	76,689,077	$	220,190,765	$	223,656,663

The accompanying notes are an integral part of these financial statements.

- 69 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		T21 Sub-Account				T20 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(148,702)	$	(200,711)	$	2,242	$	775,164
Net realized gains (losses)		739,656		170,496		(438,822)		2,699,112
Net change in unrealized appreciation/(depreciation)		3,955,027		(4,161,988)		8,345,887		(19,157,107)
Increase (decrease) in net assets from operations		4,545,981		(4,192,203)		7,909,307		(15,682,831)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		298,669		487,990		1,178,503		1,873,510
Transfers between Sub-Accounts
(including the Fixed Account), net		(1,025,610)		2,102,873		3,369,456		6,558,623
Withdrawals, surrenders, annuitizations
and contract charges		(3,596,228)		(3,903,559)		(12,423,697)		(15,108,371)
Net accumulation activity		(4,323,169)		(1,312,696)		(7,875,738)		(6,676,238)
Annuitization Activity:
Annuitizations		11,215		7,148		104,714		43,793
Annuity payments and contract charges		(3,961)		(3,948)		(22,863)		(12,748)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		383		440		2,407		(27,867)
Net annuitization activity		7,637		3,640		84,258		3,178
Net increase (decrease) from contract owner transactions		(4,315,532)		(1,309,056)		(7,791,480)		(6,673,060)
Total increase (decrease) in net assets		230,449		(5,501,259)		117,827		(22,355,891)
Net assets at beginning of year		20,434,049		25,935,308		77,842,413		100,198,304
Net assets at end of year	$	20,664,498	$	20,434,049	$	77,960,240	$	77,842,413

The accompanying notes are an integral part of these financial statements.

- 70 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		FE6 Sub-Account				T59 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	496,591	$	399,577	$	219,033	$	(96,658)
Net realized gains (losses)		1,650,573		821,758		(34,844)		(85,699)
Net change in unrealized appreciation/(depreciation)		2,127,360		(4,390,100)		(164,682)		182,229
Increase (decrease) in net assets from operations		4,274,524		(3,168,765)		19,507		(128)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		136,134		147,241		4,145		54,279
Transfers between Sub-Accounts
(including the Fixed Account), net		(164,358)		133,648		138,537		199,573
Withdrawals, surrenders, annuitizations
and contract charges		(2,893,088)		(6,012,819)		(617,690)		(751,110)
Net accumulation activity		(2,921,312)		(5,731,930)		(475,008)		(497,258)
Annuitization Activity:
Annuitizations		-		-		6,742		-
Annuity payments and contract charges		-		-		(1,386)		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		540		-
Net annuitization activity		-		-		5,896		-
Net increase (decrease) from contract owner transactions		(2,921,312)		(5,731,930)		(469,112)		(497,258)
Total increase (decrease) in net assets		1,353,212		(8,900,695)		(449,605)		(497,386)
Net assets at beginning of year		24,844,546		33,745,241		4,917,758		5,415,144
Net assets at end of year	$	26,197,758	$	24,844,546	$	4,468,153	$	4,917,758

The accompanying notes are an integral part of these financial statements.

- 71 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		F56 Sub-Account				F59 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	150,897	$	46,812	$	2,057,991	$	2,213,553
Net realized gains (losses)		2,065,772		2,270,011		681,987		737,887
Net change in unrealized appreciation/(depreciation)		(362,298)		(5,135,476)		4,947,386		(6,588,791)
Increase (decrease) in net assets from operations		1,854,371		(2,818,653)		7,687,364		(3,637,351)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		305,174		192,920		489,312		2,366,565
Transfers between Sub-Accounts
(including the Fixed Account), net		395,311		799,010		169,971		(3,524,898)
Withdrawals, surrenders, annuitizations
and contract charges		(2,834,265)		(3,059,834)		(10,178,274)		(14,603,187)
Net accumulation activity		(2,133,780)		(2,067,904)		(9,518,991)		(15,761,520)
Annuitization Activity:
Annuitizations		-		-		9,218		-
Annuity payments and contract charges		(4,606)		(8,184)		(3,285)		(8,550)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		115		601		856		(891)
Net annuitization activity		(4,491)		(7,583)		6,789		(9,441)
Net increase (decrease) from contract owner transactions		(2,138,271)		(2,075,487)		(9,512,202)		(15,770,961)
Total increase (decrease) in net assets		(283,900)		(4,894,140)		(1,824,838)		(19,408,312)
Net assets at beginning of year		14,774,999		19,669,139		57,532,026		76,940,338
Net assets at end of year	$	14,491,099	$	14,774,999	$	55,707,188	$	57,532,026

The accompanying notes are an integral part of these financial statements.

- 72 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		FF0 Sub-Account				F54 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	55,308	$	64,252	$	139,656	$	863,289
Net realized gains (losses)		42,736		14,293		15,538,672		12,661,277
Net change in unrealized appreciation/(depreciation)		133,681		(191,268)		7,202,452		(27,408,877)
Increase (decrease) in net assets from operations		231,725		(112,723)		22,880,780		(13,884,311)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		14,259		31,589		1,529,139		2,037,336
Transfers between Sub-Accounts
(including the Fixed Account), net		(84,945)		(38,171)		(2,608,790)		414,156
Withdrawals, surrenders, annuitizations
and contract charges		(426,662)		(377,583)		(18,783,857)		(24,997,384)
Net accumulation activity		(497,348)		(384,165)		(19,863,508)		(22,545,892)
Annuitization Activity:
Annuitizations		-		-		92,633		19,811
Annuity payments and contract charges		-		-		(16,051)		(12,377)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		1,415		711
Net annuitization activity		-		-		77,997		8,145
Net increase (decrease) from contract owner transactions		(497,348)		(384,165)		(19,785,511)		(22,537,747)
Total increase (decrease) in net assets		(265,623)		(496,888)		3,095,269		(36,422,058)
Net assets at beginning of year		1,804,932		2,301,820		118,801,510		155,223,568
Net assets at end of year	$	1,539,309	$	1,804,932	$	121,896,779	$	118,801,510

The accompanying notes are an integral part of these financial statements.

- 73 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		FG8 Sub-Account				F53 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(363)	$	2,108	$	(142,055)	$	(212,968)
Net realized gains (losses)		8,988		10,894		2,318,126		2,838,431
Net change in unrealized appreciation/(depreciation)		38,793		(44,154)		2,835,195		(6,142,082)
Increase (decrease) in net assets from operations		47,418		(31,152)		5,011,266		(3,516,619)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		-		5,398		598,035		409,382
Transfers between Sub-Accounts
(including the Fixed Account), net		(67,315)		6,227		(1,439,022)		(696,277)
Withdrawals, surrenders, annuitizations
and contract charges		(30,365)		(18,109)		(3,926,163)		(5,132,066)
Net accumulation activity		(97,680)		(6,484)		(4,767,150)		(5,418,961)
Annuitization Activity:
Annuitizations		-		-		6,512		48,554
Annuity payments and contract charges		-		-		(1,438)		(49,808)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		269		(1,025)
Net annuitization activity		-		-		5,343		(2,279)
Net increase (decrease) from contract owner transactions		(97,680)		(6,484)		(4,761,807)		(5,421,240)
Total increase (decrease) in net assets		(50,262)		(37,636)		249,459		(8,937,859)
Net assets at beginning of year		274,591		312,227		22,434,949		31,372,808
Net assets at end of year	$	224,329	$	274,591	$	22,684,408	$	22,434,949

The accompanying notes are an integral part of these financial statements.

- 74 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		FJ9 Sub-Account				T28 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(1,790)	$	(5,855)	$	435,390	$	160,235
Net realized gains (losses)		13,848		85,420		(283,096)		(628,160)
Net change in unrealized appreciation/(depreciation)		57,431		(156,357)		632,479		(89,982)
Increase (decrease) in net assets from operations		69,489		(76,792)		784,773		(557,907)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		-		10,843		317,185		359,177
Transfers between Sub-Accounts
(including the Fixed Account), net		(36,102)		(366,445)		889,681		(256,442)
Withdrawals, surrenders, annuitizations
and contract charges		(172,157)		(66,679)		(2,420,381)		(3,186,450)
Net accumulation activity		(208,259)		(422,281)		(1,213,515)		(3,083,715)
Annuitization Activity:
Annuitizations		-		-		7,102		-
Annuity payments and contract charges		-		-		(1,478)		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		593		-
Net annuitization activity		-		-		6,217		-
Net increase (decrease) from contract owner transactions		(208,259)		(422,281)		(1,207,298)		(3,083,715)
Total increase (decrease) in net assets		(138,770)		(499,073)		(422,525)		(3,641,622)
Net assets at beginning of year		400,380		899,453		12,748,164		16,389,786
Net assets at end of year	$	261,610	$	400,380	$	12,325,639	$	12,748,164

The accompanying notes are an integral part of these financial statements.

- 75 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		FJ0 Sub-Account				G03 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	5,387	$	2,408	$	293	$	-
Net realized gains (losses)		(5,902)		(7,101)		1,277		-
Net change in unrealized appreciation/(depreciation)		12,705		(4,754)		115		-
Increase (decrease) in net assets from operations		12,190		(9,447)		1,685		-
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		12,856		10,513		35,000		-
Transfers between Sub-Accounts
(including the Fixed Account), net		(7,890)		(425)		(117)		-
Withdrawals, surrenders, annuitizations
and contract charges		(81,874)		(54,362)		(30)		-
Net accumulation activity		(76,908)		(44,274)		34,853		-
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		(76,908)		(44,274)		34,853		-
Total increase (decrease) in net assets		(64,718)		(53,721)		36,538		-
Net assets at beginning of year		220,573		274,294		-		-
Net assets at end of year	$	155,855	$	220,573	$	36,538	$	-

The accompanying notes are an integral part of these financial statements.

- 76 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		H24 Sub-Account				H32 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	8,987	$	22,361	$	(16,167)	$	(11,047)
Net realized gains (losses)		(22,842)		(28,225)		166,104		(76,028)
Net change in unrealized appreciation/(depreciation)		60,335		(52,687)		64,584		24,748
Increase (decrease) in net assets from operations		46,480		(58,551)		214,521		(62,327)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		-		9,175		15,963		2,939
Transfers between Sub-Accounts
(including the Fixed Account), net		44,656		(47,101)		(69,240)		(39,531)
Withdrawals, surrenders, annuitizations
and contract charges		(166,443)		(317,234)		(175,512)		(377,501)
Net accumulation activity		(121,787)		(355,160)		(228,789)		(414,093)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		(121,787)		(355,160)		(228,789)		(414,093)
Total increase (decrease) in net assets		(75,307)		(413,711)		(14,268)		(476,420)
Net assets at beginning of year		858,394		1,272,105		1,054,406		1,530,826
Net assets at end of year	$	783,087	$	858,394	$	1,040,138	$	1,054,406

The accompanying notes are an integral part of these financial statements.

- 77 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		V35 Sub-Account				V13 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(67,790)	$	(96,057)	$	(990)	$	(88,942)
Net realized gains (losses)		274,654		984,566		2,998,534		3,729,770
Net change in unrealized appreciation/(depreciation)		879,227		(1,608,992)		2,129,231		(7,155,135)
Increase (decrease) in net assets from operations		1,086,091		(720,483)		5,126,775		(3,514,307)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		67,510		186,370		294,127		556,149
Transfers between Sub-Accounts
(including the Fixed Account), net		39,910		(256,641)		(1,186,324)		576,958
Withdrawals, surrenders, annuitizations
and contract charges		(860,092)		(1,753,720)		(2,842,232)		(5,644,991)
Net accumulation activity		(752,672)		(1,823,991)		(3,734,429)		(4,511,884)
Annuitization Activity:
Annuitizations		4,213		-		7,688		-
Annuity payments and contract charges		(262)		-		(1,627)		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		108		-		(2)		-
Net annuitization activity		4,059		-		6,059		-
Net increase (decrease) from contract owner transactions		(748,613)		(1,823,991)		(3,728,370)		(4,511,884)
Total increase (decrease) in net assets		337,478		(2,544,474)		1,398,405		(8,026,191)
Net assets at beginning of year		5,050,033		7,594,507		23,624,426		31,650,617
Net assets at end of year	$	5,387,511	$	5,050,033	$	25,022,831	$	23,624,426

The accompanying notes are an integral part of these financial statements.

- 78 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		V11 Sub-Account				AC1 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	587,687	$	309,880	$	(11,552)	$	2,113
Net realized gains (losses)		5,300,927		4,794,963		201,446		54,881
Net change in unrealized appreciation/(depreciation)		9,074,976		(15,984,727)		387,748		(546,550)
Increase (decrease) in net assets from operations		14,963,590		(10,879,884)		577,642		(489,556)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		575,447		576,476		73,422		10,272
Transfers between Sub-Accounts
(including the Fixed Account), net		(2,897,632)		3,414,361		(123,396)		280,890
Withdrawals, surrenders, annuitizations
and contract charges		(11,089,887)		(17,872,826)		(580,329)		(391,264)
Net accumulation activity		(13,412,072)		(13,881,989)		(630,303)		(100,102)
Annuitization Activity:
Annuitizations		86,152		183,846		7,878		-
Annuity payments and contract charges		(16,375)		(185,906)		(1,723)		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		(9,742)		(4,052)		(2)		-
Net annuitization activity		60,035		(6,112)		6,153		-
Net increase (decrease) from contract owner transactions		(13,352,037)		(13,888,101)		(624,150)		(100,102)
Total increase (decrease) in net assets		1,611,553		(24,767,985)		(46,508)		(589,658)
Net assets at beginning of year		87,367,855		112,135,840		2,426,299		3,015,957
Net assets at end of year	$	88,979,408	$	87,367,855	$	2,379,791	$	2,426,299

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		J88 Sub-Account				J94 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	301,610	$	281,347	$	(144,406)	$	(141,309)
Net realized gains (losses)		(74,563)		(534,025)		1,480,042		2,339,575
Net change in unrealized appreciation/(depreciation)		2,153,039		(630,145)		2,346,047		(3,296,149)
Increase (decrease) in net assets from operations		2,380,086		(882,823)		3,681,683		(1,097,883)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		391,144		430,685		102,406		130,736
Transfers between Sub-Accounts
(including the Fixed Account), net		4,179,157		(1,357,430)		792,039		2,110,498
Withdrawals, surrenders, annuitizations
and contract charges		(4,728,268)		(6,724,265)		(1,690,614)		(2,018,163)
Net accumulation activity		(157,967)		(7,651,010)		(796,169)		223,071
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		(157,967)		(7,651,010)		(796,169)		223,071
Total increase (decrease) in net assets		2,222,119		(8,533,833)		2,885,514		(874,812)
Net assets at beginning of year		38,269,637		46,803,470		12,883,908		13,758,720
Net assets at end of year	$	40,491,756	$	38,269,637	$	15,769,422	$	12,883,908

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		L11 Sub-Account				L18 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(236,225)	$	73,774	$	(378,753)	$	(415,484)
Net realized gains (losses)		216,081		525,683		1,489,555		4,957,030
Net change in unrealized appreciation/(depreciation)		4,748,459		(8,004,741)		5,293,168		(5,235,369)
Increase (decrease) in net assets from operations		4,728,315		(7,405,284)		6,403,970		(693,823)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		301,330		265,243		351,627		327,111
Transfers between Sub-Accounts
(including the Fixed Account), net		(48,660)		3,466,802		(1,856,636)		(1,355,272)
Withdrawals, surrenders, annuitizations
and contract charges		(4,518,715)		(5,855,814)		(3,518,361)		(4,046,915)
Net accumulation activity		(4,266,045)		(2,123,769)		(5,023,370)		(5,075,076)
Annuitization Activity:
Annuitizations		-		44,912		20,405		756
Annuity payments and contract charges		(4,423)		(5,224)		(3,909)		(671)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		73		(13)		1,172		(12,636)
Net annuitization activity		(4,350)		39,675		17,668		(12,551)
Net increase (decrease) from contract owner transactions		(4,270,395)		(2,084,094)		(5,005,702)		(5,087,627)
Total increase (decrease) in net assets		457,920		(9,489,378)		1,398,268		(5,781,450)
Net assets at beginning of year		30,828,463		40,317,841		20,439,006		26,220,456
Net assets at end of year	$	31,286,383	$	30,828,463	$	21,837,274	$	20,439,006

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		L17 Sub-Account				M07 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(162,800)	$	(105,021)	$	2,810,137	$	2,496,902
Net realized gains (losses)		(819,895)		4,359,965		11,284,414		18,659,635
Net change in unrealized appreciation/(depreciation)		6,717,165		(7,615,817)		38,023,976		(43,683,554)
Increase (decrease) in net assets from operations		5,734,470		(3,360,873)		52,118,527		(22,527,017)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		591,927		401,780		6,508,994		4,658,650
Transfers between Sub-Accounts
(including the Fixed Account), net		(1,537,767)		(825,257)		4,016		(1,892,802)
Withdrawals, surrenders, annuitizations
and contract charges		(4,404,020)		(5,372,407)		(41,350,526)		(47,828,508)
Net accumulation activity		(5,349,860)		(5,795,884)		(34,837,516)		(45,062,660)
Annuitization Activity:
Annuitizations		-		-		551,723		1,193,472
Annuity payments and contract charges		(457)		(457)		(626,069)		(645,805)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		60		10		(144,403)		(263,368)
Net annuitization activity		(397)		(447)		(218,749)		284,299
Net increase (decrease) from contract owner transactions		(5,350,257)		(5,796,331)		(35,056,265)		(44,778,361)
Total increase (decrease) in net assets		384,213		(9,157,204)		17,062,262		(67,305,378)
Net assets at beginning of year		31,371,127		40,528,331		291,492,108		358,797,486
Net assets at end of year	$	31,755,340	$	31,371,127	$	308,554,370	$	291,492,108

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		M35 Sub-Account				M31 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	1,305,357	$	935,991	$	(2,101,659)	$	(1,972,854)
Net realized gains (losses)		11,524,721		19,502,817		25,200,385		19,916,126
Net change in unrealized appreciation/(depreciation)		35,380,547		(44,075,970)		21,375,801		(15,099,024)
Increase (decrease) in net assets from operations		48,210,625		(23,637,162)		44,474,527		2,844,248
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		6,902,336		5,173,630		2,758,299		2,540,163
Transfers between Sub-Accounts
(including the Fixed Account), net		(3,124,405)		(4,124,441)		(2,446,975)		(231,012)
Withdrawals, surrenders, annuitizations
and contract charges		(47,584,143)		(57,829,987)		(20,744,131)		(17,340,837)
Net accumulation activity		(43,806,212)		(56,780,798)		(20,432,807)		(15,031,686)
Annuitization Activity:
Annuitizations		-		434,860		73,254		66,633
Annuity payments and contract charges		(55,985)		(235,973)		(92,678)		(114,722)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		(17,100)		96,366		(34,115)		(77,191)
Net annuitization activity		(73,085)		295,253		(53,539)		(125,280)
Net increase (decrease) from contract owner transactions		(43,879,297)		(56,485,545)		(20,486,346)		(15,156,966)
Total increase (decrease) in net assets		4,331,328		(80,122,707)		23,988,181		(12,312,718)
Net assets at beginning of year		281,998,243		362,120,950		128,977,969		141,290,687
Net assets at end of year	$	286,329,571	$	281,998,243	$	152,966,150	$	128,977,969

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		M80 Sub-Account				MF1 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(348,891)	$	(353,556)	$	(340,028)	$	(341,305)
Net realized gains (losses)		3,532,393		3,360,685		4,005,370		5,034,606
Net change in unrealized appreciation/(depreciation)		3,209,092		(2,682,080)		3,422,127		(4,529,576)
Increase (decrease) in net assets from operations		6,392,594		325,049		7,087,469		163,725
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		388,108		236,925		650,560		595,480
Transfers between Sub-Accounts
(including the Fixed Account), net		(259,935)		477,225		(591,038)		282,046
Withdrawals, surrenders, annuitizations
and contract charges		(3,018,934)		(3,622,685)		(3,603,632)		(3,766,172)
Net accumulation activity		(2,890,761)		(2,908,535)		(3,544,110)		(2,888,646)
Annuitization Activity:
Annuitizations		33,548		22,094		87,667		10,336
Annuity payments and contract charges		(6,145)		(4,295)		(29,439)		(24,635)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		965		(2,332)		(2,822)		3,742
Net annuitization activity		28,368		15,467		55,406		(10,557)
Net increase (decrease) from contract owner transactions		(2,862,393)		(2,893,068)		(3,488,704)		(2,899,203)
Total increase (decrease) in net assets		3,530,201		(2,568,019)		3,598,765		(2,735,478)
Net assets at beginning of year		18,852,039		21,420,058		20,181,465		22,916,943
Net assets at end of year	$	22,382,240	$	18,852,039	$	23,780,230	$	20,181,465

The accompanying notes are an integral part of these financial statements.

- 84 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		M41 Sub-Account				M05 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(424,939)	$	(457,701)	$	(743,513)	$	(767,407)
Net realized gains (losses)		4,365,724		6,351,388		9,575,640		7,340,782
Net change in unrealized appreciation/(depreciation)		3,846,452		(5,411,499)		7,809,540		(7,181,035)
Increase (decrease) in net assets from operations		7,787,237		482,188		16,641,667		(607,660)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		603,043		320,722		1,353,242		1,018,674
Transfers between Sub-Accounts
(including the Fixed Account), net		(2,150,626)		(1,292,063)		(2,139,302)		(1,732,760)
Withdrawals, surrenders, annuitizations
and contract charges		(3,972,744)		(4,851,085)		(7,030,419)		(6,496,373)
Net accumulation activity		(5,520,327)		(5,822,426)		(7,816,479)		(7,210,459)
Annuitization Activity:
Annuitizations		25,225		83,952		48,955		62,768
Annuity payments and contract charges		(12,706)		(10,692)		(32,284)		(53,601)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		191		825		1,560		(23,146)
Net annuitization activity		12,710		74,085		18,231		(13,979)
Net increase (decrease) from contract owner transactions		(5,507,617)		(5,748,341)		(7,798,248)		(7,224,438)
Total increase (decrease) in net assets		2,279,620		(5,266,153)		8,843,419		(7,832,098)
Net assets at beginning of year		23,268,767		28,534,920		44,227,317		52,059,415
Net assets at end of year	$	25,548,387	$	23,268,767	$	53,070,736	$	44,227,317

The accompanying notes are an integral part of these financial statements.

- 85 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		M42 Sub-Account				M89 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(610,750)	$	(685,182)	$	6,917,120	$	6,782,825
Net realized gains (losses)		8,789,298		7,512,818		(1,294,208)		(7,182,359)
Net change in unrealized appreciation/(depreciation)		3,759,741		(6,952,594)		29,519,797		(15,591,399)
Increase (decrease) in net assets from operations		11,938,289		(124,958)		35,142,709		(15,990,933)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		918,968		657,194		3,176,590		2,799,378
Transfers between Sub-Accounts
(including the Fixed Account), net		(4,435,252)		(3,311,837)		19,142,277		(15,237,641)
Withdrawals, surrenders, annuitizations
and contract charges		(6,481,255)		(6,185,942)		(59,270,132)		(83,624,839)
Net accumulation activity		(9,997,539)		(8,840,585)		(36,951,265)		(96,063,102)
Annuitization Activity:
Annuitizations		59,763		1,539		118,557		18,865
Annuity payments and contract charges		(8,115)		(3,166)		(28,095)		(11,629)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		1,132		(23,375)		2,096		(6,976)
Net annuitization activity		52,780		(25,002)		92,558		260
Net increase (decrease) from contract owner transactions		(9,944,759)		(8,865,587)		(36,858,707)		(96,062,842)
Total increase (decrease) in net assets		1,993,530		(8,990,545)		(1,715,998)		(112,053,775)
Net assets at beginning of year		34,009,316		42,999,861		439,785,816		551,839,591
Net assets at end of year	$	36,002,846	$	34,009,316	$	438,069,818	$	439,785,816

The accompanying notes are an integral part of these financial statements.

- 86 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		M82 Sub-Account				M44 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(1,273,960)	$	(1,613,578)	$	2,521,573	$	(352,211)
Net realized gains (losses)		17,084,271		23,766,371		(802,242)		(3,019,469)
Net change in unrealized appreciation/(depreciation)		14,996,133		(28,158,400)		18,956,238		3,060,437
Increase (decrease) in net assets from operations		30,806,444		(6,005,607)		20,675,569		(311,243)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,000,177		1,453,373		1,973,302		1,772,328
Transfers between Sub-Accounts
(including the Fixed Account), net		(7,263,573)		(6,166,091)		(347,853)		(2,235,143)
Withdrawals, surrenders, annuitizations
and contract charges		(16,837,169)		(22,406,738)		(15,962,903)		(14,113,525)
Net accumulation activity		(23,100,565)		(27,119,456)		(14,337,454)		(14,576,340)
Annuitization Activity:
Annuitizations		74,853		-		75,771		112,552
Annuity payments and contract charges		(10,075)		(1,027)		(103,119)		(212,598)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		55		109		20,118		(55,388)
Net annuitization activity		64,833		(918)		(7,230)		(155,434)
Net increase (decrease) from contract owner transactions		(23,035,732)		(27,120,374)		(14,344,684)		(14,731,774)
Total increase (decrease) in net assets		7,770,712		(33,125,981)		6,330,885		(15,043,017)
Net assets at beginning of year		108,924,665		142,050,646		94,027,310		109,070,327
Net assets at end of year	$	116,695,377	$	108,924,665	$	100,358,195	$	94,027,310

The accompanying notes are an integral part of these financial statements.

- 87 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		M40 Sub-Account				M83 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	1,019,766	$	(463,187)	$	1,064,843	$	(246,922)
Net realized gains (losses)		1,117,896		(2,474,033)		17,018,729		24,858,858
Net change in unrealized appreciation/(depreciation)		8,116,274		2,663,761		34,673,474		(51,644,195)
Increase (decrease) in net assets from operations		10,253,936		(273,459)		52,757,046		(27,032,259)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		738,857		992,003		3,680,792		4,105,227
Transfers between Sub-Accounts
(including the Fixed Account), net		(2,320,992)		(2,992,318)		(6,971,305)		894,619
Withdrawals, surrenders, annuitizations
and contract charges		(8,081,319)		(10,943,659)		(33,688,999)		(37,090,402)
Net accumulation activity		(9,663,454)		(12,943,974)		(36,979,512)		(32,090,556)
Annuitization Activity:
Annuitizations		5,388		1,723		374,465		371,085
Annuity payments and contract charges		(1,291)		(88)		(234,416)		(310,127)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		543		152		(7,668)		(37,623)
Net annuitization activity		4,640		1,787		132,381		23,335
Net increase (decrease) from contract owner transactions		(9,658,814)		(12,942,187)		(36,847,131)		(32,067,221)
Total increase (decrease) in net assets		595,122		(13,215,646)		15,909,915		(59,099,480)
Net assets at beginning of year		48,720,378		61,936,024		203,900,118		262,999,598
Net assets at end of year	$	49,315,500	$	48,720,378	$	219,810,033	$	203,900,118

The accompanying notes are an integral part of these financial statements.

- 88 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		M08 Sub-Account				MB6 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	217,499	$	(450,574)	$	123,630	$	(208,559)
Net realized gains (losses)		4,804,766		8,396,753		36,384,132		46,980,515
Net change in unrealized appreciation/(depreciation)		20,169,467		(21,674,331)		21,892,323		(68,748,916)
Increase (decrease) in net assets from operations		25,191,732		(13,728,152)		58,400,085		(21,976,960)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,991,718		1,685,593		6,304,159		4,880,058
Transfers between Sub-Accounts
(including the Fixed Account), net		(5,709,666)		1,326,716		(3,897,280)		(2,642,566)
Withdrawals, surrenders, annuitizations
and contract charges		(16,709,517)		(24,191,635)		(36,462,734)		(39,166,033)
Net accumulation activity		(20,427,465)		(21,179,326)		(34,055,855)		(36,928,541)
Annuitization Activity:
Annuitizations		-		376,236		730,512		629,093
Annuity payments and contract charges		(57,015)		(136,097)		(468,340)		(322,696)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		699		106,983		127,532		(123,130)
Net annuitization activity		(56,316)		347,122		389,704		183,267
Net increase (decrease) from contract owner transactions		(20,483,781)		(20,832,204)		(33,666,151)		(36,745,274)
Total increase (decrease) in net assets		4,707,951		(34,560,356)		24,733,934		(58,722,234)
Net assets at beginning of year		99,305,473		133,865,829		226,421,225		285,143,459
Net assets at end of year	$	104,013,424	$	99,305,473	$	251,155,159	$	226,421,225

The accompanying notes are an integral part of these financial statements.

- 89 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MB7 Sub-Account				MC0 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(275,132)	$	(394,225)	$	1,158,691	$	1,252,890
Net realized gains (losses)		8,847,810		13,180,487		(289,863)		(478,229)
Net change in unrealized appreciation/(depreciation)		5,301,682		(18,344,538)		5,159,392		(3,241,544)
Increase (decrease) in net assets from operations		13,874,360		(5,558,276)		6,028,220		(2,466,883)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,141,801		1,441,953		920,502		848,773
Transfers between Sub-Accounts
(including the Fixed Account), net		(1,966,539)		(1,763,627)		876,184		(245,951)
Withdrawals, surrenders, annuitizations
and contract charges		(8,948,781)		(10,583,591)		(7,438,682)		(6,575,847)
Net accumulation activity		(9,773,519)		(10,905,265)		(5,641,996)		(5,973,025)
Annuitization Activity:
Annuitizations		58,286		3,425		84,557		97,056
Annuity payments and contract charges		(26,877)		(20,529)		(86,119)		(76,438)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		4,055		(45,664)		(4,559)		3,293
Net annuitization activity		35,464		(62,768)		(6,121)		23,911
Net increase (decrease) from contract owner transactions		(9,738,055)		(10,968,033)		(5,648,117)		(5,949,114)
Total increase (decrease) in net assets		4,136,305		(16,526,309)		380,103		(8,415,997)
Net assets at beginning of year		55,602,465		72,128,774		48,602,145		57,018,142
Net assets at end of year	$	59,738,770	$	55,602,465	$	48,982,248	$	48,602,145

The accompanying notes are an integral part of these financial statements.

- 90 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MA0 Sub-Account				MC2 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	2,293,161	$	2,569,282	$	(621,307)	$	(795,753)
Net realized gains (losses)		(438,794)		(2,091,770)		21,108,323		18,091,243
Net change in unrealized appreciation/(depreciation)		12,285,001		(7,571,584)		5,216,051		(21,666,200)
Increase (decrease) in net assets from operations		14,139,368		(7,094,072)		25,703,067		(4,370,710)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,777,130		1,714,930		1,958,287		2,115,489
Transfers between Sub-Accounts
(including the Fixed Account), net		5,713,341		(1,627,731)		(3,280,378)		(1,101,604)
Withdrawals, surrenders, annuitizations
and contract charges		(16,826,655)		(27,291,614)		(12,766,386)		(13,931,442)
Net accumulation activity		(9,336,184)		(27,204,415)		(14,088,477)		(12,917,557)
Annuitization Activity:
Annuitizations		33,441		196,413		92,911		91,184
Annuity payments and contract charges		(15,641)		(64,597)		(117,234)		(119,287)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		(12,872)		(1,558)		18,667		(39,368)
Net annuitization activity		4,928		130,258		(5,656)		(67,471)
Net increase (decrease) from contract owner transactions		(9,331,256)		(27,074,157)		(14,094,133)		(12,985,028)
Total increase (decrease) in net assets		4,808,112		(34,168,229)		11,608,934		(17,355,738)
Net assets at beginning of year		114,567,450		148,735,679		87,496,028		104,851,766
Net assets at end of year	$	119,375,562	$	114,567,450	$	99,104,962	$	87,496,028

The accompanying notes are an integral part of these financial statements.

- 91 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MC1 Sub-Account				MC3 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(438,246)	$	(490,555)	$	(125,824)	$	(207,794)
Net realized gains (losses)		6,454,328		6,281,631		667,824		314,353
Net change in unrealized appreciation/(depreciation)		4,325,042		(7,796,386)		2,215,434		(2,950,352)
Increase (decrease) in net assets from operations		10,341,124		(2,005,310)		2,757,434		(2,843,793)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,062,736		590,764		150,435		310,156
Transfers between Sub-Accounts
(including the Fixed Account), net		(500,463)		3,055,795		34,308		16,433
Withdrawals, surrenders, annuitizations
and contract charges		(6,462,132)		(6,633,970)		(1,729,964)		(2,834,742)
Net accumulation activity		(5,899,859)		(2,987,411)		(1,545,221)		(2,508,153)
Annuitization Activity:
Annuitizations		28,759		39,062		10,957		6,740
Annuity payments and contract charges		(28,944)		(25,581)		(22,815)		(38,976)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		9,410		(674)		1,669		(606)
Net annuitization activity		9,225		12,807		(10,189)		(32,842)
Net increase (decrease) from contract owner transactions		(5,890,634)		(2,974,604)		(1,555,410)		(2,540,995)
Total increase (decrease) in net assets		4,450,490		(4,979,914)		1,202,024		(5,384,788)
Net assets at beginning of year		35,718,016		40,697,930		15,397,927		20,782,715
Net assets at end of year	$	40,168,506	$	35,718,016	$	16,599,951	$	15,397,927

The accompanying notes are an integral part of these financial statements.

- 92 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MA1 Sub-Account				MC4 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(200,474)	$	(292,446)	$	93,544	$	(47,189)
Net realized gains (losses)		1,098,129		885,555		(70,361)		(105,550)
Net change in unrealized appreciation/(depreciation)		1,821,414		(3,542,009)		389,041		(107,108)
Increase (decrease) in net assets from operations		2,719,069		(2,948,900)		412,224		(259,847)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		131,373		117,887		63,618		168,067
Transfers between Sub-Accounts
(including the Fixed Account), net		(574,962)		1,143,659		809,924		(49,587)
Withdrawals, surrenders, annuitizations
and contract charges		(2,456,171)		(3,216,388)		(910,700)		(1,399,312)
Net accumulation activity		(2,899,760)		(1,954,842)		(37,158)		(1,280,832)
Annuitization Activity:
Annuitizations		-		1,469		30,644		12,592
Annuity payments and contract charges		(78)		(76)		(8,153)		(3,153)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		29		(739)		27,746		963
Net annuitization activity		(49)		654		50,237		10,402
Net increase (decrease) from contract owner transactions		(2,899,809)		(1,954,188)		13,079		(1,270,430)
Total increase (decrease) in net assets		(180,740)		(4,903,088)		425,303		(1,530,277)
Net assets at beginning of year		15,818,098		20,721,186		8,788,957		10,319,234
Net assets at end of year	$	15,637,358	$	15,818,098	$	9,214,260	$	8,788,957

The accompanying notes are an integral part of these financial statements.

- 93 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MC5 Sub-Account				MC6 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	3,803	$	(9,471)	$	(393,912)	$	(460,791)
Net realized gains (losses)		1,636		(4,347)		9,508,610		7,432,469
Net change in unrealized appreciation/(depreciation)		24,296		(13,916)		4,100,002		(9,595,343)
Increase (decrease) in net assets from operations		29,735		(27,734)		13,214,700		(2,623,665)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		360		34,227		1,547,806		950,242
Transfers between Sub-Accounts
(including the Fixed Account), net		77,739		(51,716)		(1,694,111)		(97,250)
Withdrawals, surrenders, annuitizations
and contract charges		(126,411)		(162,411)		(6,410,296)		(8,148,077)
Net accumulation activity		(48,312)		(179,900)		(6,556,601)		(7,295,085)
Annuitization Activity:
Annuitizations		-		-		139,111		41,396
Annuity payments and contract charges		-		-		(94,675)		(55,787)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		(649)		11,710		(54,594)
Net annuitization activity		-		(649)		56,146		(68,985)
Net increase (decrease) from contract owner transactions		(48,312)		(180,549)		(6,500,455)		(7,364,070)
Total increase (decrease) in net assets		(18,577)		(208,283)		6,714,245		(9,987,735)
Net assets at beginning of year		822,077		1,030,360		41,358,792		51,346,527
Net assets at end of year	$	803,500	$	822,077	$	48,073,037	$	41,358,792

The accompanying notes are an integral part of these financial statements.

- 94 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MC7 Sub-Account				MC8 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(25,769)	$	(32,988)	$	(286,056)	$	(374,582)
Net realized gains (losses)		319,870		310,129		14,108,455		12,625,683
Net change in unrealized appreciation/(depreciation)		258,452		(377,842)		7,052,565		(20,365,369)
Increase (decrease) in net assets from operations		552,553		(100,701)		20,874,964		(8,114,268)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		65,239		9,891		1,038,573		1,406,635
Transfers between Sub-Accounts
(including the Fixed Account), net		(29,158)		(425,058)		(1,489,416)		(806,848)
Withdrawals, surrenders, annuitizations
and contract charges		(237,130)		(230,506)		(10,910,669)		(12,439,064)
Net accumulation activity		(201,049)		(645,673)		(11,361,512)		(11,839,277)
Annuitization Activity:
Annuitizations		-		-		105,014		77,704
Annuity payments and contract charges		-		-		(417,982)		(95,584)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		7,337		(76,276)
Net annuitization activity		-		-		(305,631)		(94,156)
Net increase (decrease) from contract owner transactions		(201,049)		(645,673)		(11,667,143)		(11,933,433)
Total increase (decrease) in net assets		351,504		(746,374)		9,207,821		(20,047,701)
Net assets at beginning of year		1,746,938		2,493,312		73,514,254		93,561,955
Net assets at end of year	$	2,098,442	$	1,746,938	$	82,722,075	$	73,514,254

The accompanying notes are an integral part of these financial statements.

- 95 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MC9 Sub-Account				MD0 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(39,942)	$	(48,509)	$	554,241	$	(297,441)
Net realized gains (losses)		802,000		983,797		2,141,813		2,750,518
Net change in unrealized appreciation/(depreciation)		489,821		(1,450,844)		2,378,266		(5,168,279)
Increase (decrease) in net assets from operations		1,251,879		(515,556)		5,074,320		(2,715,202)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		216,974		178,206		453,118		627,924
Transfers between Sub-Accounts
(including the Fixed Account), net		(290,318)		50,622		(742,813)		(399,574)
Withdrawals, surrenders, annuitizations
and contract charges		(876,806)		(1,353,039)		(5,167,777)		(5,241,983)
Net accumulation activity		(950,150)		(1,124,211)		(5,457,472)		(5,013,633)
Annuitization Activity:
Annuitizations		38,826		-		140,834		49,775
Annuity payments and contract charges		(1,409)		-		(119,160)		(46,516)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		(4)		-		(16,043)		554
Net annuitization activity		37,413		-		5,631		3,813
Net increase (decrease) from contract owner transactions		(912,737)		(1,124,211)		(5,451,841)		(5,009,820)
Total increase (decrease) in net assets		339,142		(1,639,767)		(377,521)		(7,725,022)
Net assets at beginning of year		4,525,231		6,164,998		41,494,783		49,219,805
Net assets at end of year	$	4,864,373	$	4,525,231	$	41,117,262	$	41,494,783

The accompanying notes are an integral part of these financial statements.

- 96 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		M92 Sub-Account				M96 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	5,026,342	$	(6,440,405)	$	1,162,218	$	1,421,881
Net realized gains (losses)		18,376,812		35,283,647		(1,278,668)		(1,918,056)
Net change in unrealized appreciation/(depreciation)		38,714,473		(66,609,072)		3,781,989		(451,011)
Increase (decrease) in net assets from operations		62,117,627		(37,765,830)		3,665,539		(947,186)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		3,081,466		3,992,372		2,041,727		2,137,998
Transfers between Sub-Accounts
(including the Fixed Account), net		(4,847,344)		(7,673,837)		3,388,225		951,512
Withdrawals, surrenders, annuitizations
and contract charges		(65,743,594)		(96,296,080)		(12,238,158)		(13,164,918)
Net accumulation activity		(67,509,472)		(99,977,545)		(6,808,206)		(10,075,408)
Annuitization Activity:
Annuitizations		121,530		-		78,337		46,175
Annuity payments and contract charges		(17,621)		(7,628)		(82,626)		(71,594)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		337		115		46,030		26,896
Net annuitization activity		104,246		(7,513)		41,741		1,477
Net increase (decrease) from contract owner transactions		(67,405,226)		(99,985,058)		(6,766,465)		(10,073,931)
Total increase (decrease) in net assets		(5,287,599)		(137,750,888)		(3,100,926)		(11,021,117)
Net assets at beginning of year		522,436,665		660,187,553		75,920,316		86,941,433
Net assets at end of year	$	517,149,066	$	522,436,665	$	72,819,390	$	75,920,316

The accompanying notes are an integral part of these financial statements.

- 97 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MD2 Sub-Account				MA6 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	1,576,946	$	2,200,283	$	2,046,332	$	2,181,887
Net realized gains (losses)		(1,178,920)		(5,130,701)		(635,045)		(550,790)
Net change in unrealized appreciation/(depreciation)		6,531,642		(161,208)		4,657,175		(3,971,491)
Increase (decrease) in net assets from operations		6,929,668		(3,091,626)		6,068,462		(2,340,394)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,760,978		2,104,664		965,401		1,759,113
Transfers between Sub-Accounts
(including the Fixed Account), net		9,244,724		(5,562,489)		1,116,129		(738,549)
Withdrawals, surrenders, annuitizations
and contract charges		(24,454,893)		(30,603,443)		(8,102,654)		(7,536,181)
Net accumulation activity		(13,449,191)		(34,061,268)		(6,021,124)		(6,515,617)
Annuitization Activity:
Annuitizations		104,374		60,348		46,838		235,677
Annuity payments and contract charges		(111,326)		(49,346)		(80,699)		(111,129)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		3,474		299		8,739		(26,139)
Net annuitization activity		(3,478)		11,301		(25,122)		98,409
Net increase (decrease) from contract owner transactions		(13,452,669)		(34,049,967)		(6,046,246)		(6,417,208)
Total increase (decrease) in net assets		(6,523,001)		(37,141,593)		22,216		(8,757,602)
Net assets at beginning of year		154,081,038		191,222,631		47,713,973		56,471,575
Net assets at end of year	$	147,558,037	$	154,081,038	$	47,736,189	$	47,713,973

The accompanying notes are an integral part of these financial statements.

- 98 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MA3 Sub-Account				M97 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	1,330,430	$	1,528,962	$	(92,630)	$	(180,896)
Net realized gains (losses)		(472,005)		(807,134)		4,836,854		4,636,941
Net change in unrealized appreciation/(depreciation)		3,452,945		(2,722,844)		3,109,153		(8,360,437)
Increase (decrease) in net assets from operations		4,311,370		(2,001,016)		7,853,377		(3,904,392)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,012,677		769,728		652,098		1,113,343
Transfers between Sub-Accounts
(including the Fixed Account), net		574,823		(948,043)		(911,078)		832,320
Withdrawals, surrenders, annuitizations
and contract charges		(6,654,915)		(8,101,451)		(6,066,394)		(5,918,736)
Net accumulation activity		(5,067,415)		(8,279,766)		(6,325,374)		(3,973,073)
Annuitization Activity:
Annuitizations		52,178		59,682		102,177		141,615
Annuity payments and contract charges		(20,597)		(32,258)		(63,507)		(76,936)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		1,878		(100)		(108)		437
Net annuitization activity		33,459		27,324		38,562		65,116
Net increase (decrease) from contract owner transactions		(5,033,956)		(8,252,442)		(6,286,812)		(3,907,957)
Total increase (decrease) in net assets		(722,586)		(10,253,458)		1,566,565		(7,812,349)
Net assets at beginning of year		36,323,910		46,577,368		33,622,626		41,434,975
Net assets at end of year	$	35,601,324	$	36,323,910	$	35,189,191	$	33,622,626

The accompanying notes are an integral part of these financial statements.

- 99 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MD5 Sub-Account				M98 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(107,019)	$	(148,554)	$	160,176	$	(154,878)
Net realized gains (losses)		1,986,871		2,203,551		5,233,691		3,776,239
Net change in unrealized appreciation/(depreciation)		1,655,050		(3,909,472)		3,321,340		(8,408,466)
Increase (decrease) in net assets from operations		3,534,902		(1,854,475)		8,715,207		(4,787,105)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		733,208		223,055		958,498		590,056
Transfers between Sub-Accounts
(including the Fixed Account), net		(139,043)		810,036		(744,117)		(203,658)
Withdrawals, surrenders, annuitizations
and contract charges		(3,355,412)		(3,186,881)		(5,975,245)		(5,388,453)
Net accumulation activity		(2,761,247)		(2,153,790)		(5,760,864)		(5,002,055)
Annuitization Activity:
Annuitizations		1,527		113,254		132,072		13,722
Annuity payments and contract charges		(13,103)		(12,739)		(34,729)		(25,998)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		360		(1,823)		2,847		(245)
Net annuitization activity		(11,216)		98,692		100,190		(12,521)
Net increase (decrease) from contract owner transactions		(2,772,463)		(2,055,098)		(5,660,674)		(5,014,576)
Total increase (decrease) in net assets		762,439		(3,909,573)		3,054,533		(9,801,681)
Net assets at beginning of year		15,071,974		18,981,547		38,478,624		48,280,305
Net assets at end of year	$	15,834,413	$	15,071,974	$	41,533,157	$	38,478,624

The accompanying notes are an integral part of these financial statements.

- 100 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		M93 Sub-Account				MD6 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(224,481)	$	(770,299)	$	(2,629,612)	$	(2,691,088)
Net realized gains (losses)		10,863,079		10,085,206		54,072,589		43,456,731
Net change in unrealized appreciation/(depreciation)		6,894,434		(19,715,838)		47,665,760		(40,256,429)
Increase (decrease) in net assets from operations		17,533,032		(10,400,931)		99,108,737		509,214
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,258,769		945,791		7,373,231		5,980,877
Transfers between Sub-Accounts
(including the Fixed Account), net		(4,607,176)		3,847,794		(5,751,466)		(4,804,151)
Withdrawals, surrenders, annuitizations
and contract charges		(14,321,450)		(16,686,793)		(47,896,543)		(43,724,030)
Net accumulation activity		(17,669,857)		(11,893,208)		(46,274,778)		(42,547,304)
Annuitization Activity:
Annuitizations		92,177		30,760		1,218,448		510,394
Annuity payments and contract charges		(24,994)		(18,556)		(727,280)		(458,906)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		216		2,061		193,957		(49,327)
Net annuitization activity		67,399		14,265		685,125		2,161
Net increase (decrease) from contract owner transactions		(17,602,458)		(11,878,943)		(45,589,653)		(42,545,143)
Total increase (decrease) in net assets		(69,426)		(22,279,874)		53,519,084		(42,035,929)
Net assets at beginning of year		81,180,035		103,459,909		276,836,568		318,872,497
Net assets at end of year	$	81,110,609	$	81,180,035	$	330,355,652	$	276,836,568

The accompanying notes are an integral part of these financial statements.

- 101 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MB3 Sub-Account				MD8 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(458,408)	$	(481,640)	$	85,351	$	(82,676)
Net realized gains (losses)		5,473,231		4,921,484		-		-
Net change in unrealized appreciation/(depreciation)		5,776,033		(4,468,638)		-		1
Increase (decrease) in net assets from operations		10,790,856		(28,794)		85,351		(82,675)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		932,822		618,923		4,810,684		3,654,292
Transfers between Sub-Accounts
(including the Fixed Account), net		(1,354,184)		(1,544,843)		6,761,791		6,937,355
Withdrawals, surrenders, annuitizations
and contract charges		(5,050,090)		(5,446,561)		(15,797,473)		(17,416,173)
Net accumulation activity		(5,471,452)		(6,372,481)		(4,224,998)		(6,824,526)
Annuitization Activity:
Annuitizations		28,328		18,245		13,325		(138,342)
Annuity payments and contract charges		(18,881)		(16,743)		(74,023)		(51,963)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		3,105		(532)		5,610		(10,445)
Net annuitization activity		12,552		970		(55,088)		(200,750)
Net increase (decrease) from contract owner transactions		(5,458,900)		(6,371,511)		(4,280,086)		(7,025,276)
Total increase (decrease) in net assets		5,331,956		(6,400,305)		(4,194,735)		(7,107,951)
Net assets at beginning of year		30,935,440		37,335,745		42,172,705		49,280,656
Net assets at end of year	$	36,267,396	$	30,935,440	$	37,977,970	$	42,172,705

The accompanying notes are an integral part of these financial statements.

- 102 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MD9 Sub-Account				ME2 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(39,055)	$	(546,982)	$	3,772	$	1,543
Net realized gains (losses)		-		(2)		1,561,421		888,401
Net change in unrealized appreciation/(depreciation)		-		1		2,914,964		(4,195,304)
Increase (decrease) in net assets from operations		(39,055)		(546,983)		4,480,157		(3,305,360)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		4,067,406		2,473,627		430,114		414,900
Transfers between Sub-Accounts
(including the Fixed Account), net		30,175,124		34,874,529		(324,005)		(93,566)
Withdrawals, surrenders, annuitizations
and contract charges		(47,357,837)		(52,556,996)		(2,324,795)		(2,381,207)
Net accumulation activity		(13,115,307)		(15,208,840)		(2,218,686)		(2,059,873)
Annuitization Activity:
Annuitizations		102,412		6,916		6,814		-
Annuity payments and contract charges		(33,094)		(27,000)		(4,901)		(4,171)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		796		179		(378)		(8,784)
Net annuitization activity		70,114		(19,905)		1,535		(12,955)
Net increase (decrease) from contract owner transactions		(13,045,193)		(15,228,745)		(2,217,151)		(2,072,828)
Total increase (decrease) in net assets		(13,084,248)		(15,775,728)		2,263,006		(5,378,188)
Net assets at beginning of year		120,800,340		136,576,068		17,993,248		23,371,436
Net assets at end of year	$	107,716,092	$	120,800,340	$	20,256,254	$	17,993,248

The accompanying notes are an integral part of these financial statements.

- 103 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		ME3 Sub-Account				MA5 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(195,865)	$	(244,468)	$	520,839	$	641,767
Net realized gains (losses)		2,780,861		3,293,176		(90,709)		(253,269)
Net change in unrealized appreciation/(depreciation)		6,166,935		(9,986,514)		1,947,006		(1,298,972)
Increase (decrease) in net assets from operations		8,751,931		(6,937,806)		2,377,136		(910,474)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		380,690		714,536		615,549		413,038
Transfers between Sub-Accounts
(including the Fixed Account), net		(2,004,424)		2,577,530		1,357,412		979,144
Withdrawals, surrenders, annuitizations
and contract charges		(5,750,705)		(7,988,802)		(3,307,518)		(3,349,239)
Net accumulation activity		(7,374,439)		(4,696,736)		(1,334,557)		(1,957,057)
Annuitization Activity:
Annuitizations		17,442		17,857		-		46,742
Annuity payments and contract charges		(5,272)		(3,170)		(24,925)		(55,330)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		1,056		(17,146)		(5,432)		(7,313)
Net annuitization activity		13,226		(2,459)		(30,357)		(15,901)
Net increase (decrease) from contract owner transactions		(7,361,213)		(4,699,195)		(1,364,914)		(1,972,958)
Total increase (decrease) in net assets		1,390,718		(11,637,001)		1,012,222		(2,883,432)
Net assets at beginning of year		37,158,328		48,795,329		24,401,310		27,284,742
Net assets at end of year	$	38,549,046	$	37,158,328	$	25,413,532	$	24,401,310

The accompanying notes are an integral part of these financial statements.

- 104 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MA7 Sub-Account				ME4 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	67,056	$	91,786	$	(262,353)	$	(288,837)
Net realized gains (losses)		(16,697)		(33,190)		4,402,641		3,534,311
Net change in unrealized appreciation/(depreciation)		321,429		(236,898)		1,059,864		(2,904,627)
Increase (decrease) in net assets from operations		371,788		(178,302)		5,200,152		340,847
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		33,094		129,311		66,025		462,245
Transfers between Sub-Accounts
(including the Fixed Account), net		127,608		(162,323)		(782,602)		(381,645)
Withdrawals, surrenders, annuitizations
and contract charges		(685,596)		(628,764)		(2,895,455)		(2,544,186)
Net accumulation activity		(524,894)		(661,776)		(3,612,032)		(2,463,586)
Annuitization Activity:
Annuitizations		-		41,770		-		15,644
Annuity payments and contract charges		(6,568)		(6,234)		(27,784)		(22,484)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		724		(210)		2,362		(466)
Net annuitization activity		(5,844)		35,326		(25,422)		(7,306)
Net increase (decrease) from contract owner transactions		(530,738)		(626,450)		(3,637,454)		(2,470,892)
Total increase (decrease) in net assets		(158,950)		(804,752)		1,562,698		(2,130,045)
Net assets at beginning of year		4,209,261		5,014,013		16,422,089		18,552,134
Net assets at end of year	$	4,050,311	$	4,209,261	$	17,984,787	$	16,422,089

The accompanying notes are an integral part of these financial statements.

- 105 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MA2 Sub-Account				MF3 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(25,587)	$	(32,519)	$	(647,176)	$	(687,155)
Net realized gains (losses)		336,582		520,071		7,989,645		4,794,415
Net change in unrealized appreciation/(depreciation)		136,559		(429,480)		4,231,927		(6,526,352)
Increase (decrease) in net assets from operations		447,554		58,072		11,574,396		(2,419,092)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		90,940		47,590		952,420		790,778
Transfers between Sub-Accounts
(including the Fixed Account), net		(106,299)		(164,955)		(1,465,202)		(3,768,957)
Withdrawals, surrenders, annuitizations
and contract charges		(144,089)		(463,477)		(9,256,127)		(10,878,234)
Net accumulation activity		(159,448)		(580,842)		(9,768,909)		(13,856,413)
Annuitization Activity:
Annuitizations		-		-		41,725		150,886
Annuity payments and contract charges		-		-		(27,520)		(24,149)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		614		1,434
Net annuitization activity		-		-		14,819		128,171
Net increase (decrease) from contract owner transactions		(159,448)		(580,842)		(9,754,090)		(13,728,242)
Total increase (decrease) in net assets		288,106		(522,770)		1,820,306		(16,147,334)
Net assets at beginning of year		1,370,549		1,893,319		50,559,537		66,706,871
Net assets at end of year	$	1,658,655	$	1,370,549	$	52,379,843	$	50,559,537

The accompanying notes are an integral part of these financial statements.

- 106 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MF5 Sub-Account				MF6 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	2,988,765	$	1,242,727	$	33,240	$	45,572
Net realized gains (losses)		18,351,564		16,949,532		90,901		124,693
Net change in unrealized appreciation/(depreciation)		35,726,802		(38,053,127)		265,482		(249,752)
Increase (decrease) in net assets from operations		57,067,131		(19,860,868)		389,623		(79,487)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		3,559,376		2,988,398		68,125		24,404
Transfers between Sub-Accounts
(including the Fixed Account), net		7,672,634		(943,151)		(25,702)		(209,176)
Withdrawals, surrenders, annuitizations
and contract charges		(76,823,412)		(86,630,923)		(332,173)		(214,603)
Net accumulation activity		(65,591,402)		(84,585,676)		(289,750)		(399,375)
Annuitization Activity:
Annuitizations		63,196		-		-		20,820
Annuity payments and contract charges		(49,952)		(47,997)		(449)		(22,346)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		(2,821)		916		81		(405)
Net annuitization activity		10,423		(47,081)		(368)		(1,931)
Net increase (decrease) from contract owner transactions		(65,580,979)		(84,632,757)		(290,118)		(401,306)
Total increase (decrease) in net assets		(8,513,848)		(104,493,625)		99,505		(480,793)
Net assets at beginning of year		414,465,602		518,959,227		1,644,682		2,125,475
Net assets at end of year	$	405,951,754	$	414,465,602	$	1,744,187	$	1,644,682

The accompanying notes are an integral part of these financial statements.

- 107 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MF7 Sub-Account				MF9 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	569,023	$	845,467	$	1,071,707	$	(445,376)
Net realized gains (losses)		2,711,382		4,926,484		32,746,043		30,502,722
Net change in unrealized appreciation/(depreciation)		7,890,371		(8,367,087)		37,179,675		(52,263,773)
Increase (decrease) in net assets from operations		11,170,776		(2,595,136)		70,997,425		(22,206,427)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		721,572		976,962		2,667,103		1,838,912
Transfers between Sub-Accounts
(including the Fixed Account), net		(1,783,332)		(3,882,639)		(7,887,201)		(133,135)
Withdrawals, surrenders, annuitizations
and contract charges		(7,835,137)		(11,142,616)		(46,455,295)		(60,125,613)
Net accumulation activity		(8,896,897)		(14,048,293)		(51,675,393)		(58,419,836)
Annuitization Activity:
Annuitizations		27,861		66,403		-		1,614
Annuity payments and contract charges		(14,978)		(11,244)		(91)		(83)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		530		(11,654)		40		138
Net annuitization activity		13,413		43,505		(51)		1,669
Net increase (decrease) from contract owner transactions		(8,883,484)		(14,004,788)		(51,675,444)		(58,418,167)
Total increase (decrease) in net assets		2,287,292		(16,599,924)		19,321,981		(80,624,594)
Net assets at beginning of year		48,236,259		64,836,183		306,459,709		387,084,303
Net assets at end of year	$	50,523,551	$	48,236,259	$	325,781,690	$	306,459,709

The accompanying notes are an integral part of these financial statements.

- 108 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MG1 Sub-Account				MF2 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(271,932)	$	(294,055)	$	1,817,323	$	594,615
Net realized gains (losses)		(412,851)		(2,844,445)		12,600		(781,904)
Net change in unrealized appreciation/(depreciation)		8,180,523		(5,945,327)		4,852,171		(1,035,946)
Increase (decrease) in net assets from operations		7,495,740		(9,083,827)		6,682,094		(1,223,235)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,049,811		1,324,312		3,578,626		3,810,791
Transfers between Sub-Accounts
(including the Fixed Account), net		4,481,478		277,391		14,014,632		(9,800,389)
Withdrawals, surrenders, annuitizations
and contract charges		(18,567,225)		(24,199,221)		(35,035,305)		(40,310,509)
Net accumulation activity		(13,035,936)		(22,597,518)		(17,442,047)		(46,300,107)
Annuitization Activity:
Annuitizations		64,899		4,791		360,285		112,619
Annuity payments and contract charges		(44,599)		(7,408)		(83,110)		(48,024)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		(2,643)		1,109		3,464		5,195
Net annuitization activity		17,657		(1,508)		280,639		69,790
Net increase (decrease) from contract owner transactions		(13,018,279)		(22,599,026)		(17,161,408)		(46,230,317)
Total increase (decrease) in net assets		(5,522,539)		(31,682,853)		(10,479,314)		(47,453,552)
Net assets at beginning of year		122,512,404		154,195,257		203,393,960		250,847,512
Net assets at end of year	$	116,989,865	$	122,512,404	$	192,914,646	$	203,393,960

The accompanying notes are an integral part of these financial statements.

- 109 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MG2 Sub-Account				MG3 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	838,894	$	90,855	$	(121,534)	$	(249,421)
Net realized gains (losses)		70,113		(492,960)		1,508,363		1,474,002
Net change in unrealized appreciation/(depreciation)		2,583,630		(479,827)		4,830,956		(4,612,691)
Increase (decrease) in net assets from operations		3,492,637		(881,932)		6,217,785		(3,388,110)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		1,378,440		878,858		470,601		525,266
Transfers between Sub-Accounts
(including the Fixed Account), net		8,879,074		(1,820,563)		(1,319,690)		298,936
Withdrawals, surrenders, annuitizations
and contract charges		(14,098,530)		(20,943,488)		(3,999,846)		(4,646,012)
Net accumulation activity		(3,841,016)		(21,885,193)		(4,848,935)		(3,821,810)
Annuitization Activity:
Annuitizations		9,118		-		3,765		43,835
Annuity payments and contract charges		(1,546)		(1,770)		(5,378)		(4,909)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		247		872		320		(11,758)
Net annuitization activity		7,819		(898)		(1,293)		27,168
Net increase (decrease) from contract owner transactions		(3,833,197)		(21,886,091)		(4,850,228)		(3,794,642)
Total increase (decrease) in net assets		(340,560)		(22,768,023)		1,367,557		(7,182,752)
Net assets at beginning of year		109,785,950		132,553,973		23,170,786		30,353,538
Net assets at end of year	$	109,445,390	$	109,785,950	$	24,538,343	$	23,170,786

The accompanying notes are an integral part of these financial statements.

- 110 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MG4 Sub-Account				MG6 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(142,933)	$	(246,530)	$	7,626,089	$	2,835,220
Net realized gains (losses)		1,575,189		1,221,931		108,014,145		97,587,976
Net change in unrealized appreciation/(depreciation)		4,031,740		(3,934,613)		121,640,903		(174,910,427)
Increase (decrease) in net assets from operations		5,463,996		(2,959,212)		237,281,137		(74,487,231)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		136,486		253,805		11,953,200		14,418,888
Transfers between Sub-Accounts
(including the Fixed Account), net		(1,440,755)		(211,073)		(10,777,670)		714,091
Withdrawals, surrenders, annuitizations
and contract charges		(3,544,128)		(5,449,557)		(192,422,803)		(239,069,385)
Net accumulation activity		(4,848,397)		(5,406,825)		(191,247,273)		(223,936,406)
Annuitization Activity:
Annuitizations		4,426		-		665,748		-
Annuity payments and contract charges		(277)		-		(30,874)		(144,951)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		114		-		(53,159)		123,493
Net annuitization activity		4,263		-		581,715		(21,458)
Net increase (decrease) from contract owner transactions		(4,844,134)		(5,406,825)		(190,665,558)		(223,957,864)
Total increase (decrease) in net assets		619,862		(8,366,037)		46,615,579		(298,445,095)
Net assets at beginning of year		20,713,591		29,079,628		1,255,969,013		1,554,414,108
Net assets at end of year	$	21,333,453	$	20,713,591	$	1,302,584,592	$	1,255,969,013

The accompanying notes are an integral part of these financial statements.

- 111 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		MG7 Sub-Account				V44 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(86,684)	$	(125,917)	$	(191,442)	$	(169,475)
Net realized gains (losses)		945,326		1,480,850		1,037,294		2,699,341
Net change in unrealized appreciation/(depreciation)		1,230,783		(2,281,768)		1,960,842		(1,986,910)
Increase (decrease) in net assets from operations		2,089,425		(926,835)		2,806,694		542,956
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		73,855		97,720		311,599		267,843
Transfers between Sub-Accounts
(including the Fixed Account), net		(812,312)		(63,135)		453,357		2,517,213
Withdrawals, surrenders, annuitizations
and contract charges		(1,024,134)		(1,602,767)		(2,049,615)		(2,492,168)
Net accumulation activity		(1,762,591)		(1,568,182)		(1,284,659)		292,888
Annuitization Activity:
Annuitizations		4,356		-		-		1,548
Annuity payments and contract charges		(276)		-		(88)		(80)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		115		-		44		130
Net annuitization activity		4,195		-		(44)		1,598
Net increase (decrease) from contract owner transactions		(1,758,396)		(1,568,182)		(1,284,703)		294,486
Total increase (decrease) in net assets		331,029		(2,495,017)		1,521,991		837,442
Net assets at beginning of year		7,295,067		9,790,084		9,712,851		8,875,409
Net assets at end of year	$	7,626,096	$	7,295,067	$	11,234,842	$	9,712,851

The accompanying notes are an integral part of these financial statements.

- 112 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		V43 Sub-Account				O19 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(125,469)	$	(114,330)	$	(238,832)	$	(258,238)
Net realized gains (losses)		1,753,041		1,911,195		1,263,847		1,004,567
Net change in unrealized appreciation/(depreciation)		789,341		(1,092,481)		2,926,219		(1,648,774)
Increase (decrease) in net assets from operations		2,416,913		704,384		3,951,234		(902,445)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		42,333		198,185		388,220		235,610
Transfers between Sub-Accounts
(including the Fixed Account), net		(144,257)		338,264		(837,964)		329,120
Withdrawals, surrenders, annuitizations
and contract charges		(938,162)		(1,602,340)		(2,309,048)		(2,931,831)
Net accumulation activity		(1,040,086)		(1,065,891)		(2,758,792)		(2,367,101)
Annuitization Activity:
Annuitizations		4,607		-		43,566		6,813
Annuity payments and contract charges		(278)		-		(3,303)		(2,940)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		106		-		543		(6)
Net annuitization activity		4,435		-		40,806		3,867
Net increase (decrease) from contract owner transactions		(1,035,651)		(1,065,891)		(2,717,986)		(2,363,234)
Total increase (decrease) in net assets		1,381,262		(361,507)		1,233,248		(3,265,679)
Net assets at beginning of year		6,474,748		6,836,255		12,674,828		15,940,507
Net assets at end of year	$	7,856,010	$	6,474,748	$	13,908,076	$	12,674,828

The accompanying notes are an integral part of these financial statements.

- 113 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		O23 Sub-Account				O20 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	40,765	$	11,691	$	(163,886)	$	(171,036)
Net realized gains (losses)		454,127		605,046		2,452,930		2,260,258
Net change in unrealized appreciation/(depreciation)		1,036,159		(1,416,845)		1,782,214		(4,600,790)
Increase (decrease) in net assets from operations		1,531,051		(800,108)		4,071,258		(2,511,568)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		18,019		23,308		139,824		303,997
Transfers between Sub-Accounts
(including the Fixed Account), net		42,090		63,821		(1,283,873)		1,423,490
Withdrawals, surrenders, annuitizations
and contract charges		(912,015)		(987,227)		(2,531,357)		(4,321,877)
Net accumulation activity		(851,906)		(900,098)		(3,675,406)		(2,594,390)
Annuitization Activity:
Annuitizations		-		-		3,609		1,487
Annuity payments and contract charges		-		-		(226)		(77)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		415		125
Net annuitization activity		-		-		3,798		1,535
Net increase (decrease) from contract owner transactions		(851,906)		(900,098)		(3,671,608)		(2,592,855)
Total increase (decrease) in net assets		679,145		(1,700,206)		399,650		(5,104,423)
Net assets at beginning of year		10,331,463		12,031,669		15,149,305		20,253,728
Net assets at end of year	$	11,010,608	$	10,331,463	$	15,548,955	$	15,149,305

The accompanying notes are an integral part of these financial statements.

- 114 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		O21 Sub-Account				O04 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(1,416,496)	$	(1,447,783)	$	(82,842)	$	(97,877)
Net realized gains (losses)		33,188,162		32,978,412		383,271		898,069
Net change in unrealized appreciation/(depreciation)		7,743,862		(46,742,368)		712,934		(1,361,863)
Increase (decrease) in net assets from operations		39,515,528		(15,211,739)		1,013,363		(561,671)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		2,365,549		3,154,271		101,580		252,734
Transfers between Sub-Accounts
(including the Fixed Account), net		(9,953,076)		(2,412,025)		(225,878)		(173,868)
Withdrawals, surrenders, annuitizations
and contract charges		(25,593,737)		(29,668,893)		(681,265)		(1,299,780)
Net accumulation activity		(33,181,264)		(28,926,647)		(805,563)		(1,220,914)
Annuitization Activity:
Annuitizations		208,125		49,875		24,042		-
Annuity payments and contract charges		(51,387)		(30,654)		(880)		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		4,106		(55,277)		(2)		-
Net annuitization activity		160,844		(36,056)		23,160		-
Net increase (decrease) from contract owner transactions		(33,020,420)		(28,962,703)		(782,403)		(1,220,914)
Total increase (decrease) in net assets		6,495,108		(44,174,442)		230,960		(1,782,585)
Net assets at beginning of year		145,625,526		189,799,968		4,562,326		6,344,911
Net assets at end of year	$	152,120,634	$	145,625,526	$	4,793,286	$	4,562,326

The accompanying notes are an integral part of these financial statements.

- 115 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		PH2 Sub-Account				P08 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(501)	$	(534)	$	207,381	$	258,016
Net realized gains (losses)		(19,837)		53,650		(78,054)		(140,462)
Net change in unrealized appreciation/(depreciation)		106,721		(105,149)		1,472,575		(1,418,065)
Increase (decrease) in net assets from operations		86,383		(52,033)		1,601,902		(1,300,511)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		-		-		487,763		103,255
Transfers between Sub-Accounts
(including the Fixed Account), net		(16,814)		(32,214)		830,190		(657,106)
Withdrawals, surrenders, annuitizations
and contract charges		(60,358)		(100,508)		(2,417,966)		(2,760,347)
Net accumulation activity		(77,172)		(132,722)		(1,100,013)		(3,314,198)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		(77,172)		(132,722)		(1,100,013)		(3,314,198)
Total increase (decrease) in net assets		9,211		(184,755)		501,889		(4,614,709)
Net assets at beginning of year		367,455		552,210		16,485,880		21,100,589
Net assets at end of year	$	376,666	$	367,455	$	16,987,769	$	16,485,880

The accompanying notes are an integral part of these financial statements.

- 116 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		PC0 Sub-Account				P70 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	180,681	$	248,205	$	6,851	$	1,397
Net realized gains (losses)		(169,165)		(205,493)		(28,719)		(29,631)
Net change in unrealized appreciation/(depreciation)		1,456,580		(1,304,321)		47,589		(22,724)
Increase (decrease) in net assets from operations		1,468,096		(1,261,609)		25,721		(50,958)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		25,122		70,367		-		-
Transfers between Sub-Accounts
(including the Fixed Account), net		318,496		(374,351)		7,283		125
Withdrawals, surrenders, annuitizations
and contract charges		(2,787,144)		(2,741,140)		(57,784)		(19,294)
Net accumulation activity		(2,443,526)		(3,045,124)		(50,501)		(19,169)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		(2,443,526)		(3,045,124)		(50,501)		(19,169)
Total increase (decrease) in net assets		(975,430)		(4,306,733)		(24,780)		(70,127)
Net assets at beginning of year		15,777,531		20,084,264		280,406		350,533
Net assets at end of year	$	14,802,101	$	15,777,531	$	255,626	$	280,406

The accompanying notes are an integral part of these financial statements.

- 117 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		P10 Sub-Account				PK8 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	652,759	$	119,523	$	219,992	$	230,141
Net realized gains (losses)		(1,800,207)		(4,215,017)		(87,696)		(495,524)
Net change in unrealized appreciation/(depreciation)		3,255,539		(124,679)		827,881		(369,777)
Increase (decrease) in net assets from operations		2,108,091		(4,220,173)		960,177		(635,160)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		291,679		339,488		108,177		113,360
Transfers between Sub-Accounts
(including the Fixed Account), net		1,830,018		(306,040)		161,243		(100,961)
Withdrawals, surrenders, annuitizations
and contract charges		(3,551,389)		(4,946,357)		(1,030,625)		(2,177,283)
Net accumulation activity		(1,429,692)		(4,912,909)		(761,205)		(2,164,884)
Annuitization Activity:
Annuitizations		22,327		93,477		4,539		-
Annuity payments and contract charges		(12,123)		(10,785)		(1,681)		(2,653)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		134		109		266		1,682
Net annuitization activity		10,338		82,801		3,124		(971)
Net increase (decrease) from contract owner transactions		(1,419,354)		(4,830,108)		(758,081)		(2,165,855)
Total increase (decrease) in net assets		688,737		(9,050,281)		202,096		(2,801,015)
Net assets at beginning of year		22,324,165		31,374,446		7,700,705		10,501,720
Net assets at end of year	$	23,012,902	$	22,324,165	$	7,902,801	$	7,700,705

The accompanying notes are an integral part of these financial statements.

- 118 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		P20 Sub-Account				PD6 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	7,299	$	11,677	$	1,753,907	$	(44,260)
Net realized gains (losses)		(18,985)		(10,855)		(3,091,629)		31,903,014
Net change in unrealized appreciation/(depreciation)		48,575		(33,408)		55,980,825		(61,692,049)
Increase (decrease) in net assets from operations		36,889		(32,586)		54,643,103		(29,833,295)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		54		10,702		1,935,269		2,279,834
Transfers between Sub-Accounts
(including the Fixed Account), net		54,654		(2,752)		(5,098,717)		(3,134,058)
Withdrawals, surrenders, annuitizations
and contract charges		(303,188)		(77,582)		(50,239,343)		(67,876,727)
Net accumulation activity		(248,480)		(69,632)		(53,402,791)		(68,730,951)
Annuitization Activity:
Annuitizations		-		-		35,037		-
Annuity payments and contract charges		-		-		(8,830)		(10,487)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		5,993		(4,969)
Net annuitization activity		-		-		32,200		(15,456)
Net increase (decrease) from contract owner transactions		(248,480)		(69,632)		(53,370,591)		(68,746,407)
Total increase (decrease) in net assets		(211,591)		(102,218)		1,272,512		(98,579,702)
Net assets at beginning of year		422,826		525,044		380,593,252		479,172,954
Net assets at end of year	$	211,235	$	422,826	$	381,865,764	$	380,593,252

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		P06 Sub-Account				P07 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(13,109)	$	309,757	$	1,790,763	$	1,296,639
Net realized gains (losses)		(725,895)		(2,033,268)		(1,382,694)		(1,319,823)
Net change in unrealized appreciation/(depreciation)		2,901,183		185,992		8,406,563		(3,937,414)
Increase (decrease) in net assets from operations		2,162,179		(1,537,519)		8,814,632		(3,960,598)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		617,630		467,193		2,524,505		2,700,980
Transfers between Sub-Accounts
(including the Fixed Account), net		1,354,818		(939,489)		6,824,739		(4,717,636)
Withdrawals, surrenders, annuitizations
and contract charges		(5,220,116)		(7,261,832)		(24,322,817)		(28,536,400)
Net accumulation activity		(3,247,668)		(7,734,128)		(14,973,573)		(30,553,056)
Annuitization Activity:
Annuitizations		-		84,107		80,648		148,343
Annuity payments and contract charges		(37,713)		(73,847)		(123,533)		(98,188)
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		(183)		(1,291)		31,041		(9,951)
Net annuitization activity		(37,896)		8,969		(11,844)		40,204
Net increase (decrease) from contract owner transactions		(3,285,564)		(7,725,159)		(14,985,417)		(30,512,852)
Total increase (decrease) in net assets		(1,123,385)		(9,262,678)		(6,170,785)		(34,473,450)
Net assets at beginning of year		33,513,529		42,776,207		139,502,056		173,975,506
Net assets at end of year	$	32,390,144	$	33,513,529	$	133,331,271	$	139,502,056

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		P68 Sub-Account				PI3 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	17	$	-	$	(244,829)	$	(220,925)
Net realized gains (losses)		(6)		-		(88,411)		574,464
Net change in unrealized appreciation/(depreciation)		(25)		-		990,098		(2,039,809)
Increase (decrease) in net assets from operations		(14)		-		656,858		(1,686,270)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		13,516		-		87,000		35,327
Transfers between Sub-Accounts
(including the Fixed Account), net		6,922		-		402,091		(329,434)
Withdrawals, surrenders, annuitizations
and contract charges		-		-		(1,718,387)		(3,497,291)
Net accumulation activity		20,438		-		(1,229,296)		(3,791,398)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		20,438		-		(1,229,296)		(3,791,398)
Total increase (decrease) in net assets		20,424		-		(572,438)		(5,477,668)
Net assets at beginning of year		-		-		15,177,351		20,655,019
Net assets at end of year	$	20,424	$	-	$	14,604,913	$	15,177,351

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		P72 Sub-Account				P95 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	52,610	$	(130,263)	$	(25)	$	-
Net realized gains (losses)		1,484,674		1,276,193		-		-
Net change in unrealized appreciation/(depreciation)		1,746,855		(2,419,747)		111		-
Increase (decrease) in net assets from operations		3,284,139		(1,273,817)		86		-
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		148,716		205,600		7,000		-
Transfers between Sub-Accounts
(including the Fixed Account), net		191,954		1,200,905		289		-
Withdrawals, surrenders, annuitizations
and contract charges		(1,846,560)		(2,668,458)		(24)		-
Net accumulation activity		(1,505,890)		(1,261,953)		7,265		-
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		(1,505,890)		(1,261,953)		7,265		-
Total increase (decrease) in net assets		1,778,249		(2,535,770)		7,351		-
Net assets at beginning of year		12,064,141		14,599,911		-		-
Net assets at end of year	$	13,842,390	$	12,064,141	$	7,351	$	-

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		P79 Sub-Account				W41 Sub-Account
		December 31,		December 31,		December 31,		December 31,
		2019		2018		2019		2018
Operations:
Net investment income (loss)	$	(81)	$	-	$	(4,084)	$	(4,097)
Net realized gains (losses)		29		-		21,397		10,307
Net change in unrealized appreciation/(depreciation)		1,919		-		42,687		(38,996)
Increase (decrease) in net assets from operations		1,867		-		60,000		(32,786)
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		15,406		-		-		-
Transfers between Sub-Accounts
(including the Fixed Account), net		(312)		-		(10,586)		(4,884)
Withdrawals, surrenders, annuitizations
and contract charges		(54)		-		(28,856)		(29,338)
Net accumulation activity		15,040		-		(39,442)		(34,222)
Annuitization Activity:
Annuitizations		-		-		-		-
Annuity payments and contract charges		-		-		-		-
Transfers between Sub-Accounts, net		-		-		-		-
Adjustments to annuity reserves		-		-		-		-
Net annuitization activity		-		-		-		-
Net increase (decrease) from contract owner transactions		15,040		-		(39,442)		(34,222)
Total increase (decrease) in net assets		16,907		-		20,558		(67,008)
Net assets at beginning of year		-		-		236,808		303,816
Net assets at end of year	$	16,907	$	-	$	257,366	$	236,808

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

		W42 Sub-Account
		December 31,		December 31,
		2019		2018
Operations:
Net investment income (loss)	$	(538)	$	(924)
Net realized gains (losses)		5,554		523
Net change in unrealized appreciation/(depreciation)		4,003		432
Increase (decrease) in net assets from operations		9,019		31
Contract Owner Transactions:
Accumulation Activity:
Purchase payments received		-		7,585
Transfers between Sub-Accounts
(including the Fixed Account), net		(2,274)		(1,043)
Withdrawals, surrenders, annuitizations
and contract charges		(408)		(28,099)
Net accumulation activity		(2,682)		(21,557)
Annuitization Activity:
Annuitizations		-		-
Annuity payments and contract charges		-		-
Transfers between Sub-Accounts, net		-		-
Adjustments to annuity reserves		-		-
Net annuitization activity		-		-
Net increase (decrease) from contract owner transactions		(2,682)		(21,557)
Total increase (decrease) in net assets		6,337		(21,526)
Net assets at beginning of year		31,384		52,910
Net assets at end of year	$	37,721	$	31,384

The accompanying notes are an integral part of these financial statements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

NOTES TO FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2019

1. BUSINESS AND ORGANIZATION

Delaware Life Variable Account F (the "Variable Account") is a separate account of Delaware Life Insurance Company (the "Sponsor"). The Variable Account was established on July 13, 1989 as a funding vehicle for the variable portion of Regatta contracts, Regatta Access contracts, Regatta Choice contracts, Regatta Choice II contracts, Regatta Classic contracts, Regatta Extra contracts, Regatta Flex II contracts, Regatta Flex 4 contracts, Regatta Gold contracts, Regatta Platinum contracts, Masters Access contracts, Masters Choice contracts, Masters Choice II contracts, Masters Extra contracts, Masters Extra II contracts, Masters Flex contracts, Masters Flex II contracts, Masters I Share contracts, Masters IV contracts, Masters VII contracts, Masters Prime contracts (collectively the "Contracts"), and certain other fixed and variable annuity contracts issued by the Sponsor. The Variable Account is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended, as a unit investment trust existing in accordance with the regulations of the Delaware Insurance Department and is an investment company. Accordingly, the Variable Account follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 946 Financial Services – Investment Companies.

The assets of the Variable Account are divided into "Sub-Accounts". Each Sub-Account is invested in shares of a specific mutual fund (collectively the "Funds"), or series thereof, registered under the Investment Company Act of 1940, as amended. The contract owners of the Variable Account direct the deposits into the Sub-Accounts of the Variable Account.

Under applicable insurance law, the assets and liabilities of the Variable Account are clearly identified and distinguished from the Sponsor's other assets and liabilities. Assets applicable to the Variable Account are not chargeable with liabilities arising out of any other business the Sponsor may conduct.

A summary of the name changes related to Sub-Accounts held by the contract owners of the Variable Account during the current year, is as follows:

Sub-
Account	Previous Name	Effective Date
V43	Morgan Stanley Variable Insurance Fund, Inc. Mid Cap Growth Portfolio Class II	April 30, 2019
FE6	Franklin Templeton Founding Funds Allocation VIP Fund Class 2	May 1, 2019
C91	Columbia Variable Portfolio Select Large-Cap Value- Class 2	May 1, 2019
O19	Oppenheimer Capital Appreciation Fund/VA (Service Shares)	May 24, 2019
O23	Oppenheimer Conservative Balanced Fund/VA (Service Shares)	May 24, 2019
O20	Oppenheimer Global Fund/VA (Service Shares)	May 24, 2019
O04	Oppenheimer Main Street Small Cap Fund/VA (Service Shares)	May 24, 2019
O21	Oppenheimer Main Street Fund/VA (Service Shares)	May 24, 2019
M93	MFS VIT II International Value Portfolio S Class	June 1, 2019
M98	MFS VIT II International Value Portfolio I Class	June 1, 2019
PD6	PIMCO VIT Global Multi-Asset Managed Allocation Portfolio Advisor Class	October 1, 2019

There were no liquidated, merged, or commenced Sub-Accounts during the current year.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

1. BUSINESS AND ORGANIZATION (CONTINUED)

The commencement date related to Sub-Accounts held by the contract owners of the Variable Account (if commenced within the past five years) is as follows:

Sub-Account	Effective Date
C59, C60, C58, C89, C90	April 29, 2016
AC4, C91, G03, P68, P95, P79, AP0, AQ1, AS3, AQ3, L33	October 3, 2018
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

General

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The preparation of financial statements in conformity with GAAP requires the Sponsor's management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates.

Investment Valuation and Transactions

Investments made in mutual funds are carried at fair value and are valued at their closing net asset value as determined by the respective mutual fund, which in turn value their investments at fair value, as of December 31, 2019. Transactions are recorded on a trade date basis. Realized gains and losses on sales of investments are determined on the first in, first out basis. Dividend income and realized gain distributions are reinvested in additional fund shares and recognized on the ex-dividend date.

Units

The number of units credited is determined by dividing the dollar amount allocated to a Sub-Account by the unit value for that Sub- Account for the period during which the purchase payment was received. The unit value for each Sub-Account is established at $10.00 for the first period of that Sub-Account and is subsequently measured based on the performance of the investments and the contract charges selected by the contract holder, as discussed in Note 5.

Purchase Payments

Upon issuance of new Contracts, the initial purchase payment is credited to the contract in the form of units. All subsequent purchase payments are applied using the unit values for the period during which the purchase payment is received.

Transfers

Transfers between Sub-Accounts requested by contract owners are recorded in the new Sub-Account upon receipt of the redemption proceeds at the net asset value at the time of receipt. In addition, transfers can be made between the Sub-Accounts and the "Fixed Account". The Fixed Account is part of the general account of the Sponsor in which purchase payments or contract values may be allocated or transferred.

Withdrawals

At any time during the accumulation phase (the period before the first annuity payment), the contract owner may elect to receive a cash withdrawal payment under the contract. If the contract owner requests a full withdrawal, the contract owner will receive the value of their account at the end of period, less the contract maintenance charge for the current contract year and any applicable withdrawal charge.

If the contract owner requests a partial withdrawal, the contract owner will receive the amount requested less any applicable withdrawal charge and the account value will be reduced by the amount requested. Any requests for partial withdrawals that would result in the value of the contract owner's account being reduced to an amount less than the contract maintenance charge for the current contract year is treated as a request for a full withdrawal.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Annuitization

On the annuity commencement date, the contract's accumulation account is canceled and its adjusted value is applied to provide an annuity. The adjusted value will be equal to the value of the accumulation account for the period that ends immediately before the annuity commencement date, reduced by any applicable premium taxes or similar taxes and a proportionate amount of the contract maintenance charge.

Annuity Payments

The amount of the first variable annuity payment is determined in accordance with the annuity payment rates found in the contract. The number of units to be credited in respect of a particular Sub-Account is determined by dividing that portion of the first variable annuity payment attributable to that Sub-Account by the annuity unit value of that Sub-Account for the period that ends immediately before the annuity commencement date. The number of units of each Sub-Account credited to the contract then remains fixed, unless an exchange of units is made. The dollar amount of each variable annuity payment after the first may increase, decrease or remain constant, depending on the investment performance of the Sub-Accounts.

Federal Income Taxes

The operations of the Variable Account are part of the operations of the Sponsor and are not taxed separately. The Sponsor qualifies for the federal income tax treatment granted to life insurance companies under Subchapter L of the Internal Revenue Code (the "Code"). Under existing federal income tax law, investment income and realized gain distributions earned by the Variable Account on contract owner reserves are not taxable, and therefore, no provision has been made for federal income taxes. In the event of a change in applicable tax law, the Sponsor will review this policy and if necessary a provision may be made in future years.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Sponsor's management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. The most significant estimates are fair value measurements of investments and the calculation of the reserve for variable annuities. Actual results could vary from the amounts derived from Sponsor management's estimates.

Subsequent events

The Sponsor's management has evaluated events subsequent to December 31, 2019 noting that, other than indicated below, there are no subsequent events requiring accounting adjustments or disclosure.

The spread of COVID-19 is worldwide, dislocating the capital markets and affecting every industry. There is considerable uncertainty around both the severity and the duration of the COVID-19 outbreak, and for that reason the future financial and other impacts of the pandemic on the Variable Account's net assets cannot reasonably be estimated at this time.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

3. FAIR VALUE MEASUREMENTS

The Sub-Accounts' investments are carried at fair value. Fair value is an exit price, representing the amount that would be received from a sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, FASB ASC Topic 820, "Fair Value Measurements and Disclosures", establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value (i.e., Level 1, 2 and 3). Level 1 inputs are observable inputs that reflect quoted prices for identical assets or liabilities in active markets that the Variable Account has the ability to access at the measurement date. Level 2 inputs are observable inputs, other than quoted prices included in Level 1, for the asset or liability or prices for similar assets and liabilities. Level 3 inputs are unobservable inputs reflecting the reporting entity's estimates of the assumptions that market participants would use in pricing the asset or liability. Topic 820 requires that a fair value measurement technique include an adjustment for risks inherent in a particular valuation technique (such as a pricing model) and/or the risks inherent in the inputs to the model, if market participants would also include such an adjustment.

The Variable Account has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into the three level hierarchy described above. If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.

The Variable Account uses the Funds' closing net asset value to determine the fair value of its Sub-Accounts. As of December 31, 2019, the net assets held in the Variable Account were categorized as Level 1 assets under the Topic 820 hierarchy levels. There were no Level 2 or 3 investments in the Variable Account during the year ended December 31, 2019. There were no transfers between levels during the year ended December 31, 2019.

4. RELATED-PARTY TRANSACTIONS

The Sponsor provides administrative services necessary for the operation of the Variable Account. The Sponsor absorbs all organizational expenses including the fees of registering the Variable Account and its contracts for distribution under federal and state securities laws.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

5. CONTRACT CHARGES

Mortality and expense risk charges

Charges for mortality and expense risks, the optional death benefit riders and optional living benefit riders are based on the average daily Variable Account assets and are deducted from the Variable Account at the end of each valuation period to cover the risks assumed by the Sponsor. These charges are reflected in the Statements of Operations.

The deductions are calculated at different levels based upon the elections made by the contract holder and are transferred periodically to the Sponsor. At December 31, 2019, the deduction is at an effective annual rate as follows:

	Level	Level	Level	Level	Level	Level	Level	Level	Level
	1	2	3	4	5	6	7	8	9
Regatta	1.40%	-	-	-	-	-	-	-	-
Regatta Gold	1.25%	-	-	-	-	-	-	-	-
Regatta Classic	1.00%	-	-	-	-	-	-	-	-
Regatta Platinum	1.25%	-	-	-	-	-	-	-	-
Regatta Extra	1.30%	1.45%	1.55%	1.70%	-	-	-	-	-
Regatta Choice	0.85%	1.00%	1.10%	1.15%	1.25%	1.40%	-	-	-
Regatta Access	1.00%	1.15%	1.25%	1.40%	1.50%	1.65%	-	-	-
Regatta Flex 4	0.95%	1.10%	1.20%	1.35%	1.45%	1.60%	-	-	-
Regatta Flex II	1.30%	1.50%	1.55%	1.70%	1.75%	1.90%	1.95%	2.15%	-
Regatta Choice II	1.05%	1.25%	1.30%	1.45%	1.50%	1.65%	1.70%	-	-
Masters Extra	1.40%	1.60%	1.65%	1.80%	1.85%	2.00%	2.05%	2.25%	-
Masters Choice	1.05%	1.25%	1.30%	1.45%	1.50%	1.65%	1.70%	1.90%	-
Masters Access	1.35%	1.55%	1.60%	1.75%	1.80%	1.95%	-	-	-
Masters Flex	1.30%	1.50%	1.55%	1.70%	1.75%	1.90%	1.95%	2.15%	-
Masters IV	1.25%	1.30%	1.35%	1.45%	1.50%	1.55%	1.60%	1.65%	1.75%
Masters VII	1.00%	1.05%	1.20%	1.25%	1.30%	1.35%	1.40%	1.50%	-
Masters Extra II	1.40%	1.80%	-	-	-	-	-	-	-
Masters Choice II	1.05%	1.30%	1.45%	-	-	-	-	-	-
Masters Flex II	1.30%	1.70%	-	-	-	-	-	-	-
Masters I Share	0.50%	-	-	-	-	-	-	-	-
Masters Prime	0.85%

Distribution and administrative expense charges

For assuming the risk that surrender charges may be insufficient to compensate the Sponsor for the costs of distributing the Contracts, the Sponsor makes a deduction from the Sub-Account at the end of each valuation period for the first seven account years at an effective annual rate of 0.15% of the average daily value of the contract invested in the Sub-Account attributable to Regatta, Masters VII, Masters Extra, Masters Extra II, Masters Choice and Masters Choice II, and at an effective annual rate of 0.20% of the average daily value of the contract invested in the Sub-Account attributable to Masters IV, Masters Access, Masters Flex, Masters Flex II and Masters Prime. There are no distribution charges associated with the other contracts listed in Note 1.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

5. CONTRACT CHARGES (CONTINUED)

Distribution and administrative expense charges (Continued)

Additionally, for Regatta, Regatta Gold, Regatta Classic, Regatta Platinum, Regatta Extra, Regatta Access, Regatta Choice, Regatta Flex 4, Regatta Flex II, Regatta Choice II, Masters Extra, Masters Choice, Masters Access, Masters Flex, Masters IV, Masters VII, Masters Extra II, Masters Flex II, Masters I Share, Masters Choice II and Masters Prime contracts, an administrative expense charge is deducted from the assets of the Variable Account at an annual effective rate equal to 0.15% of the average daily Variable Account value. This charge is designed to reimburse the Sponsor for expenses incurred in administering the Contracts, the accounts and the Variable Account that are not covered by the annual account administration fee ("Account Fee"). Distribution and administrative expense charges are reflected in the Statements of Operations.

Administration charges ("Account Fee")

Each year on the account anniversary date, an Account Fee equal to the lesser of $30 or 2% of the participant's account value in the case of Regatta Gold, $30 in cash Masters Prime, $35 in the case of Regatta Extra and Regatta Platinum contracts, and $50 in the case of Regatta Choice, Regatta Classic, Regatta Access, Regatta Flex 4, Regatta Flex II, Regatta Choice II, Masters Extra, Masters Choice, Masters Access, Masters Flex, Masters IV, Masters VII, Masters Extra II, Masters Flex II, Masters I Share, and Masters Choice II contracts (after account year 5, the Account Fee for Regatta Gold, Regatta Platinum, Regatta Extra, and Regatta Choice contracts, may be changed annually, but it may not exceed the lesser of $50 or 2% of the participant's account value) is deducted from the participant's account to reimburse the Sponsor for certain administrative expenses. The Account Fee related to contracts in the accumulation phase is reflected in the Statements of Changes in Net Assets as part of "Withdrawals, surrenders, annuitizations, and contract charges" line item. After the annuity commencement date, the Account Fee will be deducted pro rata from each variable annuity payment made during the year and reflected under the line item "Annuity payments and contract charges" in the Statements of Changes in Net Assets.

Surrender charges

The Sponsor does not deduct a sales charge from the purchase payments. However, a surrender charge (contingent deferred sales charge) of up to 6% of certain amounts withdrawn will be deducted to cover certain expenses relating to the sale of Regatta, Regatta Gold, Regatta Flex 4, and Regatta Platinum contracts; 8% for Regatta Extra, Regatta Choice II, Regatta Flex II, Masters Choice, Masters Choice II, Masters Flex, Masters Flex II, Masters Extra, Masters Extra II, Masters IV, Masters VII, and Masters Prime; and for 7% for Regatta Choice if the contract holder requests a full withdrawal prior to reaching the pay-out phase. These charges are reflected in the "Withdrawals, surrenders, annuitizations and contract charges" line on the Statements of Changes in Net Assets.

Optional living benefit rider charges ("Benefit Fee")

Benefit Fee is charged for optional living benefit riders elected by the contract holder. The benefit fee is deducted from the related account value as highlighted in the following table.

	Single Life Quarterly		Joint Life Quarterly		Single Life Annual		Joint Life Annual
Secured Returns	Charge		Charge		Charge		Charge
	0.1000%		N/A	0.40%			N/A
Secured Returns 2	0.1250%		N/A	0.50%			N/A
Secured Returns for Life	0.1250%		N/A	0.50%			N/A
Secured Returns for Life Plus	0.1250%		N/A	0.50%			N/A
Income on Demand	0.1625%	0.2125%		0.65%		0.85%
Income on Demand II	0.1625%	0.2125%		0.65%		0.85%
Retirement Asset Protector	0.1875%		N/A	0.75%			N/A
Retirement Income Escalator	0.1875%	0.2375%		0.75%		0.95%
Income Advisor	0.2250%	0.2750%		0.90%		1.10%
Income on Demand II Plus	0.2375%	0.2875%		0.95%		1.15%
Income on Demand II Escalator	0.2375%	0.2875%		0.95%		1.15%
Retirement Income Escalator II	0.2375%	0.2875%		0.95%		1.15%
Income Riser	0.2750%	0.3250%		1.10%		1.30%
Income on Demand III Escalator	0.2750%	0.3250%		1.10%		1.30%
Income Riser III	0.2750%	0.3000%		1.10%		1.20%
Income Maximizer	0.2750%	0.3000%		1.10%		1.20%
Income Maximizer Plus	0.3125%	0.3625%		1.25%		1.45%
		- 130 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

5. CONTRACT CHARGES (CONTINUED)

Optional living benefit rider charges ("Benefit Fee") (Continued)

Income Advisor was only available on Masters I Share contracts. Income Maximizer, Income Maximizer Plus, and Income Riser III were available on Masters Choice II contracts, Masters Extra II contracts, and Masters Flex II contracts. The remaining optional living benefits above were available on Masters Extra, Masters Choice, Masters Flex, and Masters Access contracts.

Secured Returns for Life and Secured Returns for Life Plus were the only optional living benefits available on Masters IV and Masters VII contracts.

Secured Returns, Secured Returns 2, Secured Returns for Life, Secured Returns for Life Plus, Income on Demand, and Retirement Asset Protector were the only optional living benefits available on Regatta Flex II and Regatta Choice II contracts.

Benefit Fee is reflected in the "Withdrawals, surrenders, annuitizations and contract charges" line on the Statements of Changes in Net Assets

Premium Taxes

A deduction, when applicable, is made for premium taxes or similar state or local taxes. It is currently the policy of the Sponsor to make this deduction at the annuity commencement date. However, the Sponsor reserves the right to deduct such taxes when incurred.

6. RESERVE FOR VARIABLE ANNUITIES

Reserve for variable annuities represents the actuarial present value of future contract benefits for those contract holders who are in the payout phase of their contract and who chose the variable payout option. Annuity reserves for contracts with annuity commencement dates on or between January 1, 1987 and December 31, 1998 are calculated using the 1983 Individual Annuitant Mortality Table. Annuity reserves for contracts with annuity commencement dates on or between January 1, 1999 and December 31, 2014 are calculated using the Annuity 2000 Table. Annuity reserves for contracts with annuity commencement dates on or after January 1,

2015 are calculated using the 2012 Individual Annuitant Mortality Table. All annuity reserves are calculated using an assumed interest rate of at least 3% or 4% per year. The Individual Annuitant Mortality Tables utilized are subject to change in conjunction with changes in the tables currently adopted by the National Association of Insurance Commissioners. The mortality risk is fully borne by the Sponsor and may result in additional amounts being transferred into the variable annuity account by the Sponsor to cover greater longevity of annuities than expected. Required adjustments to the reserves are accomplished by transfers to or from the Sponsor.

- 131 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

7. INVESTMENT PURCHASES AND SALES

The cost of purchases and proceeds from sales of investments for the year ended December 31, 2019 were as follows:

AL1		Purchases		Sales
	$	6,115,503	$	7,133,986
AO5		2,482,603		13,083,345
AM2		225,775		1,136,486
A98		1,785,509		5,285,714
AC4		98,405		8,205
A74		2,880,583		2,257,166
AP0		116,519		6,619
AQ1		10,483		3,487
AS3		117,133		7,154
AQ3		3,522		122
B18		25,214,324		69,376,778
L33		25,943		503
C71		2,527		1,783
C59		14,830		7,434
C60		1,162,162		15,383,096
C89		18,107		8,594
C90		1,039,955		5,028,969
C58		940,958		1,228,355
C91		37,527		4,463
FD7		13,676,770		20,114,318
F24		21,824,037		33,909,331
F88		571,032		900,855
FB9		2,328,540		2,746,704
F15		1,843,797		3,053,634
F41		13,301,632		19,462,801
FE3		11,792,783		43,350,404
T21		906,815		5,371,472
T20		9,147,982		16,132,254
FE6		2,980,097		3,701,618
T59		942,916		1,193,633
F56		4,472,133		3,716,308
F59		6,169,418		12,718,948
FF0		177,722		595,052
F54		17,049,859		25,012,952
FG8		27,315		104,450
F53		5,341,479		6,389,646
FJ9		73,450		220,142
T28		2,063,996		2,836,515
FJ0		27,481		99,002
G03		36,626		215
H24		71,847		184,647
H32		264,501		301,036
V35		1,104,082		1,527,043

- 132 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

7. INVESTMENT PURCHASES AND SALES (CONTINUED)

V13		Purchases		Sales
	$	5,103,715	$	5,681,072
V11		10,669,727		17,081,138
AC1		375,100		858,637
J88		6,549,121		6,405,955
J94		3,581,725		3,493,628
L11		2,347,786		6,854,682
L18		3,086,013		6,490,233
L17		2,356,033		7,086,109
M07		22,057,527		46,055,327
M35		21,577,629		56,403,168
M31		15,448,018		25,342,816
M80		4,374,807		5,709,167
MF1		4,472,940		5,324,535
M41		4,994,901		7,501,241
M05		10,863,386		10,278,692
M42		8,133,512		11,774,022
M89		42,852,517		72,790,035
M82		14,089,877		26,495,586
M44		7,021,758		18,578,433
M40		4,029,545		12,523,818
M83		19,132,773		45,345,598
M08		9,486,281		25,069,211
MB6		27,492,918		43,058,600
MB7		7,199,401		12,773,859
MC0		4,998,149		9,496,347
MA0		16,882,558		23,910,003
MC2		15,685,500		18,022,014
MC1		8,970,646		10,227,024
MC3		1,387,787		2,560,624
MA1		1,870,086		4,465,705
MC4		1,501,872		1,423,109
MC5		102,864		147,380
MC6		6,905,081		8,956,746
MC7		271,178		289,458
MC8		8,472,332		13,702,007
MC9		797,997		1,351,409
MD0		2,990,558		6,968,598
M92		29,244,084		79,611,331
M96		8,235,505		13,890,774
MD2		16,724,783		28,604,967
MA6		5,305,966		9,324,139
MA3		3,697,649		7,403,140
M97		5,232,518		7,924,426
MD5		3,348,996		4,527,490
M98		3,551,043		7,843,481
M93		5,975,896		21,345,052
MD6		34,082,065		58,315,754
MB3		4,519,764		7,757,495
MD8		14,671,823		18,869,537

- 133 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

7. INVESTMENT PURCHASES AND SALES (CONTINUED)

MD9		Purchases		Sales
	$	48,627,939	$	61,713,051
ME2		1,745,531		3,135,793
ME3		3,055,779		9,018,134
MA5		3,158,622		3,970,887
MA7		452,920		917,329
ME4		2,397,402		4,471,233
MA2		439,351		449,403
MF3		12,489,194		14,140,664
MF5		44,589,854		86,788,019
MF6		194,997		440,570
MF7		3,320,008		11,356,867
MF9		40,979,553		61,561,931
MG1		10,299,814		23,588,986
MF2		23,189,549		38,540,104
MG2		14,696,799		17,691,528
MG3		3,038,090		5,964,958
MG4		2,869,973		6,044,154
MG6		134,146,830		227,187,330
MG7		1,674,182		2,315,857
V44		3,126,424		3,945,495
V43		2,928,961		3,034,651
O19		2,173,071		3,761,390
O23		698,907		1,334,274
O20		2,813,885		4,444,050
O21		28,086,090		37,677,519
O04		680,303		1,095,493
PH2		7,014		84,687
P08		1,835,230		2,727,903
PC0		1,050,807		3,313,652
P70		26,976		70,626
P10		3,421,368		4,188,308
PK8		750,796		1,289,375
P20		67,201		308,382
PD6		13,715,206		65,338,259
P06		2,973,949		6,272,682
P07		14,482,799		27,711,143
P68		23,927		3,472
PI3		1,086,831		2,561,487
P72		3,211,249		3,493,316
P95		7,264		24
P79		15,434		475
W41		38,870		47,424
W42		6,635		3,502

- 134 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

8. CHANGES IN UNITS OUTSTANDING

The changes in units outstanding for the year ended December 31, 2019 were as follows:

	Units	Units	Net Increase
AL1	Issued	Redeemed	(Decrease)
	83,787	467,198	(383,411)
AO5	176,999	1,054,756	(877,757)
AM2	12,539	114,893	(102,354)
A98	267,289	723,032	(455,743)
AC4	9,075	1,318	7,757
A74	84,446	105,745	(21,299)
AP0	11,864	1,002	10,862
AQ1	1,311	657	654
AS3	11,769	1,298	10,471
AQ3	333	10	323
B18	740,242	4,234,323	(3,494,081)
L33	2,577	40	2,537
C71	32	67	(35)
C59	1,029	419	610
C60	118,952	1,015,518	(896,566)
C89	1,270	374	896
C90	79,944	317,979	(238,035)
C58	27,610	111,712	(84,102)
C91	4,177	755	3,422
FD7	492,904	1,079,189	(586,285)
F24	289,968	1,567,565	(1,277,597)
F88	33,101	59,340	(26,239)
FB9	82,471	157,307	(74,836)
F15	30,189	161,034	(130,845)
F41	260,490	994,191	(733,701)
FE3	483,427	2,892,933	(2,409,506)
T21	75,211	355,796	(280,585)
T20	450,912	864,252	(413,340)
FE6	50,998	247,751	(196,753)
T59	74,720	118,673	(43,953)
F56	82,790	180,873	(98,083)
F59	203,302	827,988	(624,686)
FF0	6,047	39,301	(33,254)
F54	196,456	999,092	(802,636)
FG8	161	5,635	(5,474)
F53	45,769	174,660	(128,891)
FJ9	328	10,693	(10,365)
T28	117,401	201,333	(83,932)
FJ0	1,759	8,216	(6,457)
G03	3,537	15	3,522
H24	3,783	12,501	(8,718)

- 135 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

8. CHANGES IN UNITS OUTSTANDING (CONTINUED)

	Units	Units	Net Increase
H32	Issued	Redeemed	(Decrease)
	4,205	17,303	(13,098)
V35	40,986	81,073	(40,087)
V13	106,837	320,561	(213,724)
V11	207,244	937,160	(729,916)
AC1	14,801	57,611	(42,810)
J88	640,150	652,394	(12,244)
J94	111,541	143,871	(32,330)
L11	265,931	690,651	(424,720)
L18	48,322	217,590	(169,268)
L17	64,969	271,409	(206,440)
M07	1,027,266	3,547,464	(2,520,198)
M35	935,045	4,193,323	(3,258,278)
M31	161,948	737,262	(575,314)
M80	66,913	136,389	(69,476)
MF1	161,184	416,324	(255,140)
M41	71,771	239,110	(167,339)
M05	159,217	649,708	(490,491)
M42	99,148	609,045	(509,897)
M89	3,219,579	6,485,565	(3,265,986)
M82	117,300	1,239,211	(1,121,911)
M44	382,679	1,579,231	(1,196,552)
M40	226,734	1,051,318	(824,584)
M83	668,932	2,797,655	(2,128,723)
M08	224,789	1,347,128	(1,122,339)
MB6	447,455	1,433,080	(985,625)
MB7	103,461	427,058	(323,597)
MC0	167,522	403,489	(235,967)
MA0	805,221	1,290,464	(485,243)
MC2	125,837	560,511	(434,674)
MC1	185,019	434,894	(249,875)
MC3	39,571	89,932	(50,361)
MA1	88,756	262,007	(173,251)
MC4	82,226	85,393	(3,167)
MC5	5,918	9,175	(3,257)
MC6	76,512	237,867	(161,355)
MC7	6,380	10,875	(4,495)
MC8	74,011	457,612	(383,601)
MC9	16,708	57,901	(41,193)
MD0	52,649	237,907	(185,258)
M92	848,204	5,885,296	(5,037,092)
M96	421,864	755,470	(333,606)
MD2	1,209,196	2,231,702	(1,022,506)
MA6	138,094	349,447	(211,353)
MA3	136,514	376,595	(240,081)

- 136 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

8. CHANGES IN UNITS OUTSTANDING (CONTINUED)

	Units	Units	Net Increase
M97	Issued	Redeemed	(Decrease)
	74,111	314,822	(240,711)
MD5	119,764	273,625	(153,861)
M98	62,786	203,003	(140,217)
M93	246,767	1,221,829	(975,062)
MD6	662,674	2,433,309	(1,770,635)
MB3	71,447	265,135	(193,688)
MD8	1,397,857	1,762,463	(364,606)
MD9	6,051,856	7,526,615	(1,474,759)
ME2	53,234	163,598	(110,364)
ME3	68,827	385,220	(316,393)
MA5	138,876	203,970	(65,094)
MA7	17,680	46,786	(29,106)
ME4	46,000	268,136	(222,136)
MA2	14,218	11,317	2,901
MF3	219,376	684,198	(464,822)
MF5	1,279,358	5,147,877	(3,868,519)
MF6	4,278	13,666	(9,388)
MF7	120,320	545,010	(424,690)
MF9	283,585	2,418,989	(2,135,404)
MG1	870,910	1,945,575	(1,074,665)
MF2	2,307,410	3,986,883	(1,679,473)
MG2	1,556,616	1,935,082	(378,466)
MG3	54,681	275,658	(220,977)
MG4	53,330	277,459	(224,129)
MG6	1,477,254	10,682,819	(9,205,565)
MG7	20,639	84,642	(64,003)
V44	101,435	142,062	(40,627)
V43	73,947	111,349	(37,402)
O19	32,890	125,555	(92,665)
O23	35,468	114,641	(79,173)
O20	25,922	160,831	(134,909)
O21	181,495	1,311,461	(1,129,966)
O04	8,609	29,131	(20,522)
PH2	105	5,360	(5,255)
P08	113,365	189,473	(76,108)
PC0	67,754	270,653	(202,899)
P70	3,522	14,155	(10,633)
P10	512,152	778,471	(266,319)
PK8	17,773	41,910	(24,137)
P20	7,934	28,357	(20,423)
PD6	711,571	4,842,844	(4,131,273)
P06	186,368	392,546	(206,178)
P07	778,815	1,661,803	(882,988)
P68	2,533	638	1,895
PI3	137,373	254,022	(116,649)
P72	92,641	154,034	(61,393)
P95	667	3	664
P79	1,527	37	1,490
W41	149	1,669	(1,520)
W42	7	99	(92)
		- 137 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

8. CHANGES IN UNITS OUTSTANDING (CONTINUED)

The changes in units outstanding for the year ended December 31, 2018 were as follows:

	Units	Units	Net Increase
AL1	Issued	Redeemed	(Decrease)
	134,287	701,601	(567,314)
AO5	407,618	1,441,950	(1,034,332)
AM2	128,144	129,296	(1,152)
A98	871,819	884,210	(12,391)
A74	149,898	147,574	2,324
B18	1,231,342	5,269,642	(4,038,300)
C71	416	968	(552)
C59	114	891	(777)
C60	454,897	1,327,459	(872,562)
C89	8,527	4,624	3,903
C90	156,981	412,517	(255,536)
C58	76,713	97,028	(20,315)
FD7	982,399	1,562,785	(580,386)
F24	895,837	2,376,468	(1,480,631)
F88	7,867	28,681	(20,814)
FB9	43,351	153,012	(109,661)
F15	63,035	260,091	(197,056)
F41	626,702	1,178,590	(551,888)
FE3	1,472,322	3,556,874	(2,084,552)
T21	299,988	374,858	(74,870)
T20	563,052	868,538	(305,486)
FE6	72,570	460,642	(388,072)
T59	94,388	142,878	(48,490)
F56	71,322	154,939	(83,617)
F59	346,073	1,412,978	(1,066,905)
FF0	5,565	31,892	(26,327)
F54	329,682	1,238,796	(909,114)
FG8	1,135	1,419	(284)
F53	91,852	226,966	(135,114)
FJ9	2,748	22,566	(19,818)
T28	79,559	299,161	(219,602)
FJ0	1,357	5,240	(3,883)
H24	4,487	29,419	(24,932)

- 138 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

8. CHANGES IN UNITS OUTSTANDING (CONTINUED)

	Units	Units	Net Increase
H32	Issued	Redeemed	(Decrease)
	8,613	30,835	(22,222)
V35	58,249	147,202	(88,953)
V13	300,263	535,750	(235,487)
V11	670,395	1,410,942	(740,547)
AC1	36,589	43,536	(6,947)
J88	528,835	1,278,284	(749,449)
J94	191,191	180,266	10,925
L11	796,474	953,662	(157,188)
L18	73,517	259,662	(186,145)
L17	116,136	341,307	(225,171)
M07	1,017,977	4,394,642	(3,376,665)
M35	938,732	5,323,146	(4,384,414)
M31	273,952	747,122	(473,170)
M80	114,199	210,953	(96,754)
MF1	167,684	410,754	(243,070)
M41	156,462	352,700	(196,238)
M05	252,884	748,984	(496,100)
M42	317,335	795,571	(478,236)
M89	2,731,278	11,728,186	(8,996,908)
M82	369,532	1,772,430	(1,402,898)
M44	412,623	1,784,249	(1,371,626)
M40	414,598	1,640,484	(1,225,886)
M83	983,703	2,942,816	(1,959,113)
M08	721,408	1,911,360	(1,189,952)
MB6	386,031	1,483,882	(1,097,851)
MB7	153,914	522,021	(368,107)
MC0	129,282	391,368	(262,086)
MA0	952,795	2,486,450	(1,533,655)
MC2	164,101	607,307	(443,206)
MC1	408,647	542,129	(133,482)
MC3	47,432	127,574	(80,142)
MA1	246,139	357,663	(111,524)
MC4	27,201	96,068	(68,867)
MC5	10,836	23,469	(12,633)
MC6	61,221	271,361	(210,140)
MC7	9,837	29,634	(19,797)
MC8	132,346	581,321	(448,975)
MC9	24,493	73,970	(49,477)
MD0	71,539	239,434	(167,895)
M92	1,462,806	9,163,496	(7,700,690)
M96	407,761	924,658	(516,897)
MD2	1,069,015	3,758,310	(2,689,295)
MA6	224,162	462,718	(238,556)
MA3	143,235	541,740	(398,505)

- 139 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

8. CHANGES IN UNITS OUTSTANDING (CONTINUED)

	Units	Units	Net Increase
M97	Issued	Redeemed	(Decrease)
	133,066	281,803	(148,737)
MD5	202,504	318,935	(116,431)
M98	60,374	184,248	(123,874)
M93	440,732	1,111,294	(670,562)
MD6	2,075,854	3,958,183	(1,882,329)
MB3	59,492	304,184	(244,692)
MD8	1,757,546	2,374,027	(616,481)
MD9	6,585,723	8,239,542	(1,653,819)
ME2	47,370	146,234	(98,864)
ME3	250,936	442,784	(191,848)
MA5	124,684	223,983	(99,299)
MA7	16,025	51,680	(35,655)
ME4	115,844	280,690	(164,846)
MA2	11,323	30,964	(19,641)
MF3	339,420	976,609	(637,189)
MF5	892,881	6,128,409	(5,235,528)
MF6	5,085	19,378	(14,293)
MF7	310,004	1,049,062	(739,058)
MF9	796,483	3,343,563	(2,547,080)
MG1	1,225,399	3,112,952	(1,887,553)
MF2	1,232,615	5,867,500	(4,634,885)
MG2	1,208,275	3,433,369	(2,225,094)
MG3	124,496	297,934	(173,438)
MG4	151,319	399,938	(248,619)
MG6	2,597,158	13,982,208	(11,385,050)
MG7	66,290	120,707	(54,417)
V44	187,047	172,320	14,727
V43	140,270	186,545	(46,275)
O19	78,257	161,542	(83,285)
O23	66,883	152,836	(85,953)
O20	137,929	227,565	(89,636)
O21	361,949	1,397,427	(1,035,478)
O04	18,757	48,665	(29,908)
PH2	3,094	12,204	(9,110)
P08	124,585	345,680	(221,095)
PC0	88,861	346,030	(257,169)
P70	5,848	9,368	(3,520)
P10	527,137	1,360,136	(832,999)
PK8	47,732	121,934	(74,202)
P20	2,445	8,408	(5,963)
PD6	963,822	6,407,267	(5,443,445)
P06	175,093	676,852	(501,759)
P07	809,097	2,685,153	(1,876,056)
PI3	146,684	501,848	(355,164)
P72	143,060	194,936	(51,876)
W41	1,378	2,474	(1,096)
W42	307	1,173	(866)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

9. TAX DIVERSIFICATION REQUIREMENTS

Under the provisions of Section 817(h) of the Code, a variable annuity contract, other than a pension plan contract, is not treated as an annuity contract for federal tax purposes for any period in which the investments of the segregated asset account on which the contract is based are not adequately diversified. The Code provides that the "adequately diversified" requirement may be met if the underlying investments satisfy either a statutory safe harbor test or diversification requirements set forth in regulations issued by the Secretary of Treasury. The Sponsor believes that the Variable Account satisfies the current requirements of the regulations, and it intends that the Variable Account will continue to meet such requirements.

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS

The summary of units outstanding, unit value (some of which may be rounded), net assets, investment income ratios, expense ratios (excluding expenses of the underlying funds) and the total return, for each of the five years in the period ended December 31, is as follows:

			At December 31,						For the years ended December 31,
								Investment
			Unit Value				Net	Income	Expense Ratio
	Units		lowest to highest4				Assets	Ratio1	lowest to highest2			Total Return3
AL1
2019	2,340,904	$	18.0438	to $	15.0135	$	37,855,824	2.30%	0.65%	to	2.25%	17.43%	to	15.56%
2018	2,724,315		15.3649	to	12.9921		37,903,067	1.65	0.65	to	2.25	(7.02)	to	(8.51)
2017	3,291,629		16.5251	to	14.2013		49,750,511	1.79	0.65	to	2.25	14.87	to	13.04
2016	3,865,256		14.3855	to	12.5630		51,387,951	1.79	0.65	to	2.25	3.76	to	2.09
2015	4,512,477		13.8637	to	12.3054		58,432,090	1.78	0.65	to	2.25	0.64	to	(0.99)
AO5
2019	5,551,012		14.0887	to	12.4059		72,077,915	1.77	0.65	to	2.10	14.49	to	12.83
2018	6,428,769		12.3054	to	10.6142		73,598,916	1.58	0.65	to	2.55	(7.95)	to	(9.71)
2017	7,463,101		13.3685	to	11.7555		93,739,200	1.77	0.65	to	2.55	13.58	to	11.43
2016	8,585,060		11.7699	to	10.5496		95,788,842	0.56	0.65	to	2.55	2.69	to	0.73
2015	9,592,149		11.4611	to	10.4731		105,174,303	0.59	0.65	to	2.55	(1.94)	to	(3.82)
AM2
2019	421,037		10.6537	to	9.6780		4,331,861	0.28	1.35	to	2.15	25.52	to	24.51
2018	523,391		8.4878	to	7.7730		4,303,059	0.42	1.35	to	2.15	(18.72)	to	(19.38)
2017	524,543		10.4423	to	9.6410		5,325,012	0.90	1.35	to	2.15	32.83	to	31.76
2016	713,443		7.8616	to	7.3171		5,466,235	-	1.35	to	2.15	(8.32)	to	(9.07)
2015	774,917		8.5754	to	8.0468		6,494,198	0.06	1.35	to	2.15	(3.50)	to	(4.28)
A98
2019	3,626,556		7.8914	to	7.1689		27,378,427	0.79	1.30	to	2.10	15.28	to	14.35
2018	4,082,299		6.8457	to	6.2693		26,841,883	1.07	1.30	to	2.10	(23.98)	to	(24.60)
2017	4,094,690		9.0054	to	8.1495		35,557,688	1.85	1.30	to	2.10	23.48	to	22.24
2016	5,133,617		7.2932	to	6.6668		36,247,936	1.05	1.30	to	2.30	(2.09)	to	(3.08)
2015	5,778,249		7.4488	to	6.8786		41,831,964	2.01	1.30	to	2.30	1.07	to	0.05
AC4
2019	7,757		11.6441				90,321	-	1.20			32.76
A74
2019	576,830		23.9137	to	20.8218		12,498,367	0.33	0.65	to	2.30	19.12	to	17.16
2018	598,129		20.0747	to	17.7721		11,122,134	0.22	0.65	to	2.30	(15.85)	to	(17.24)
2017	595,805		23.8553	to	21.4756		13,307,996	0.27	0.65	to	2.30	12.12	to	10.27
2016	523,358		21.2769	to	19.4750		10,562,629	0.42	0.65	to	2.30	23.98	to	21.92
2015	437,564		17.1614	to	15.9732		7,178,377	0.50	0.65	to	2.30	(6.31)	to	(7.86)
AP0
2019	10,862		11.0364				119,876	1.17	1.20			28.88
AQ1
2019	654		10.8711				7,109	7.73	1.20			24.35
AS3
2019	10,471		10.9039				114,179	6.29	1.20			19.48
AQ3
2019	323		11.4968				3,715	2.05	1.20			27.27
B18
2019	22,286,973		15.3292	to	16.1552		390,773,237	1.22	0.65	to	2.35	16.99	to	15.01
2018	25,781,054		13.1029	to	14.0473		390,316,328	0.81	0.65	to	2.35	(8.18)	to	(9.75)
2017	29,819,354		14.2705	to	15.5648		496,768,753	1.22	0.65	to	2.35	12.97	to	11.06
2016	35,145,601		12.6320	to	14.0152		523,480,827	1.15	0.65	to	2.35	3.13	to	1.37
2015	40,093,659		12.2486	to	13.8264		584,729,720	0.98	0.65	to	2.35	(1.64)	to	(3.33)
L33
2019	2,537		10.8900				27,625	0.71	1.20			31.06
C655
2016	-		9.8054	to	12.3340		-	0.80	1.30	to	2.10	(4.24)	to	(4.49)
2015	513,806		10.2392	to	12.9140		6,857,974	0.28	1.30	to	2.10	(1.33)	to	(2.13)
C616
2016	-		17.1122	to	16.0816		-	-	1.35	to	1.90	(6.80)	to	(6.97)
2015	3,018		17.9633	to	17.7677		53,720	-	1.55	to	1.65	(3.28)	to	(13.42)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
C627
2016	-	$	15.5095	to $	11.8811	$	-	-%	0.65%	to	2.30%	(6.66%)	to	(7.17%)
2015	5,635,627		16.6154	to	12.7981		76,304,541	-	0.65	to	2.30	0.60	to	(1.07)
C648
2016	-		17.4651	to	14.6266		-	0.19	0.65	to	2.25	(0.66)	to	(1.19)
2015	1,572,715		17.5816	to	14.7239		24,527,188	-	0.65	to	2.30	1.22	to	(0.54)
C71
2019	944		22.5273	to	22.1927		21,229	0.27	1.65	to	1.75	18.99	to	18.88
2018	979		18.9315	to	18.4082		18,507	0.20	1.65	to	1.85	(19.52)	to	(19.69)
2017	1,531		23.8314	to	22.9200		35,534	0.33	1.65	to	1.85	12.23	to	11.89
2016	2,366		21.2353	to	20.4850		49,461	0.39	1.55	to	1.85	30.68	to	30.29
2015	2,127		16.2493	to	15.7231		34,255	0.56	1.55	to	1.85	(7.77)	to	(8.05)
C59
2019	3,939		16.8147	to	16.5058		65,592	-	1.35	to	1.85	34.07	to	33.40
2018	3,329		12.4742	to	12.3734		41,354	-	1.55	to	1.85	(5.43)	to	(5.72)
2017	4,106		13.2350	to	13.1127		54,028	-	1.55	to	1.85	26.41	to	25.72
2016	47,225		10.4695	to	10.5251		493,355	-	1.35	to	2.10	4.70	to	5.25
C60
2019	3,355,394		17.1081	to	16.2133		55,246,600	-	0.65	to	2.10	34.65	to	32.70
2018	4,251,960		12.7053	to	12.2179		52,539,863	-	0.65	to	2.10	(4.76)	to	(6.15)
2017	5,124,522		13.3407	to	12.9747		67,191,797	-	0.65	to	2.10	27.01	to	24.92
2016	6,524,247		10.5036	to	10.3862		68,050,656	-	0.65	to	2.30	5.04	to	3.86
C89
2019	9,175		16.9851	to	16.7973		154,346	-	1.65	to	1.95	29.59	to	29.20
2018	8,279		13.2139	to	13.0013		107,634	-	1.35	to	1.95	(3.72)	to	(4.30)
2017	4,376		13.7243	to	13.6550		59,794	-	1.35	to	1.65	31.24	to	30.85
2016	7,157		10.4571	to	10.4571		74,841	-	1.35	to	1.35	4.57	to	4.57
C90
2019	987,736		17.4648	to	16.5514		16,597,423	-	0.65	to	2.10	30.58	to	28.69
2018	1,225,771		13.3747	to	12.8616		15,948,283	-	0.65	to	2.10	(3.29)	to	(4.70)
2017	1,481,307		13.8294	to	13.4615		20,174,133	-	0.65	to	2.10	31.83	to	29.72
2016	2,020,327		10.4906	to	10.3770		21,055,048	-	0.65	to	2.25	4.91	to	3.77
C58
2019	380,321		12.3754	to	12.0129		4,641,220	1.80	1.30	to	2.10	23.53	to	22.53
2018	464,423		10.0185	to	9.8039		4,605,013	2.57	1.30	to	2.10	(17.90)	to	(18.56)
2017	484,738		12.2025	to	12.0386		5,875,958	1.89	1.30	to	2.10	25.54	to	24.53
2016	615,937		9.8447	to	9.6674		5,971,463	1.10	1.30	to	2.10	(1.55)	to	(3.33)
C91
2019	3,422		10.5818				36,216	-		1.20		24.91
FD7
2019	5,062,414		21.7589	to	18.6826		102,797,537	1.53	0.65	to	2.25	23.31	to	21.34
2018	5,648,699		17.6458	to	15.3970		93,952,498	1.26	0.65	to	2.25	(5.06)	to	(6.59)
2017	6,229,085		18.5872	to	16.4832		110,189,532	1.29	0.65	to	2.25	15.36	to	13.52
2016	6,637,474		16.1118	to	14.5197		102,788,152	1.13	0.65	to	2.25	6.28	to	4.57
2015	7,553,495		15.1593	to	14.3059		111,120,652	1.25	0.65	to	2.30	(0.29)	to	1.48
F24
2019	6,086,530		27.5338	to	21.4915		142,358,463	0.21	0.65	to	2.35	30.42	to	28.21
2018	7,364,127		21.1113	to	16.7628		133,455,014	0.43	0.65	to	2.35	(7.25)	to	(8.83)
2017	8,844,758		22.7613	to	18.3870		174,643,966	0.75	0.65	to	2.35	20.80	to	18.75
2016	11,005,874		18.8423	to	15.4835		181,782,257	0.58	0.65	to	2.35	7.03	to	5.20
2015	12,707,426		17.6047	to	14.7183		198,122,776	0.77	0.65	to	2.35	(0.24)	to	(1.94)
F88
2019	129,978		18.1424	to	16.2854		2,233,208	1.67	1.35	to	2.10	14.19	to	13.33
2018	156,217		15.8877	to	14.3697		2,352,321	1.34	1.35	to	2.10	(5.56)	to	(6.27)
2017	177,031		16.8227	to	15.3314		2,838,467	1.24	1.35	to	2.10	11.28	to	10.44
2016	207,643		15.1173	to	13.8816		3,001,549	1.27	1.35	to	2.10	3.81	to	3.02
2015	215,408		14.5625	to	13.4747		3,006,722	1.46	1.35	to	2.10	(1.87)	to	(2.62)
FB9
2019	657,257		19.0399	to	17.0910		11,901,135	1.76	1.35	to	2.10	16.38	to	15.51
2018	732,093		16.4691	to	14.5012		11,440,547	1.33	1.30	to	2.25	(6.52)	to	(7.41)
2017	841,754		17.6171	to	15.6620		14,133,977	1.18	1.30	to	2.25	13.31	to	12.24
2016	1,020,459		15.5472	to	13.9546		15,173,885	1.17	1.30	to	2.25	4.20	to	3.20
2015	1,266,991		14.9198	to	13.5217		18,207,001	1.50	1.30	to	2.25	(1.80)	to	(2.75)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
F15
2019	1,025,139	$	19.6253	to $	16.9923	$	19,154,940	1.75%	1.30%	to	2.30%	18.32%	to	17.14%
2018	1,155,984		16.5860	to	14.5061		18,320,292	1.21	1.30	to	2.30	(7.30)	to	(8.24)
2017	1,353,040		17.8926	to	15.8083		23,206,885	1.20	1.30	to	2.30	14.76	to	13.61
2016	1,691,367		15.5919	to	13.9150		25,385,912	1.20	1.30	to	2.30	4.43	to	3.37
2015	2,026,917		14.9308	to	13.4614		29,229,313	1.53	1.30	to	2.30	(1.75)	to	(2.75)
F41
2019	3,638,561		20.8766	to	19.6798		77,323,129	0.66	0.65	to	2.25	22.37	to	20.42
2018	4,372,262		17.0599	to	16.3429		76,689,077	0.41	0.65	to	2.25	(15.33)	to	(16.69)
2017	4,924,150		20.1484	to	19.6170		103,099,597	0.48	0.65	to	2.25	19.76	to	17.85
2016	6,007,337		16.8246	to	15.6761		106,126,074	0.28	0.65	to	2.30	11.20	to	3.49
2015	7,301,226		15.1306	to	15.1469		117,171,457	0.24	0.65	to	2.30	(2.27)	to	(3.89)
FE3
2019	13,956,758		15.5308	to	14.3662		220,190,765	0.30	0.65	to	2.35	16.62	to	14.64
2018	16,366,264		13.3179	to	12.2318		223,656,663	2.11	0.65	to	2.55	(11.13)	to	(12.83)
2017	18,450,816		14.9865	to	14.0320		286,667,341	0.99	0.65	to	2.55	13.83	to	11.68
2016	22,736,161		13.1653	to	12.5649		313,290,374	0.53	0.65	to	2.55	4.49	to	2.49
2015	25,596,651		12.6001	to	12.2598		340,985,348	0.60	0.65	to	2.55	1.18	to	(0.76)
T21
2019	1,213,365		18.0670	to	15.7564		20,664,498	0.99	1.30	to	2.25	25.05	to	23.86
2018	1,493,950		14.4474	to	12.6351		20,434,049	0.86	1.30	to	2.30	(16.89)	to	(17.73)
2017	1,568,820		17.3842	to	15.3587		25,935,308	0.99	1.30	to	2.30	38.59	to	37.20
2016	2,224,462		12.5433	to	11.1941		26,654,823	0.83	1.30	to	2.30	15.92	to	14.74
2015	2,802,285		10.8211	to	9.7559		29,094,768	2.00	1.30	to	2.30	(20.65)	to	(21.45)
T20
2019	3,970,974		16.8684	to	17.5788		77,960,240	1.75	1.30	to	2.50	11.07	to	9.73
2018	4,384,314		15.1872	to	16.0195		77,842,413	2.62	1.30	to	2.50	(16.54)	to	(17.56)
2017	4,689,800		18.1981	to	19.4305		100,198,304	2.57	1.30	to	2.50	15.18	to	13.80
2016	5,668,828		15.7992	to	17.0744		105,713,504	2.01	1.30	to	2.50	5.78	to	4.50
2015	6,850,839		14.9357	to	18.1124		121,352,263	3.09	1.30	to	2.55	(7.71)	to	1.67
FE6
2019	1,669,351		16.2337	to	14.5715		26,197,758	3.54	1.35	to	2.25	18.25	to	17.18
2018	1,866,104		13.7288	to	12.0292		24,844,546	2.98	1.35	to	2.55	(10.87)	to	(11.95)
2017	2,254,176		15.4036	to	13.6620		33,745,241	2.69	1.35	to	2.55	10.47	to	9.15
2016	2,475,754		13.9431	to	12.5173		33,663,567	3.95	1.35	to	2.55	11.65	to	10.29
2015	3,088,382		12.4880	to	11.3489		37,738,539	2.79	1.35	to	2.55	(7.48)	to	(8.61)
T59
2019	427,256		11.4894	to	10.0037		4,468,153	6.55	0.65	to	2.30	1.20	to	(0.47)
2018	471,209		11.3537	to	9.8660		4,917,758	-	0.65	to	2.55	1.23	to	(0.70)
2017	519,699		11.2156	to	9.9355		5,415,144	-	0.65	to	2.55	1.10	to	(0.81)
2016	531,876		11.0934	to	10.0171		5,559,572	-	0.65	to	2.55	2.20	to	0.25
2015	620,029		10.8545	to	9.9925		6,420,065	7.82	0.65	to	2.55	(5.01)	to	(6.83)
F56
2019	642,518		17.7181	to	20.6892		14,491,099	2.71	1.30	to	2.25	13.66	to	12.58
2018	740,601		15.5885	to	18.3774		14,774,999	1.96	1.30	to	2.25	(15.96)	to	(16.77)
2017	824,218		18.5490	to	22.0791		19,669,139	1.63	1.30	to	2.25	16.97	to	15.85
2016	1,040,279		15.8582	to	19.0576		21,317,014	2.04	1.30	to	2.25	8.19	to	7.15
2015	1,224,047		14.6571	to	17.3044		23,282,566	2.58	1.30	to	2.25	(7.70)	to	(11.06)
F59
2019	3,499,450		17.2950	to	14.6110		55,707,188	5.27	0.65	to	2.30	15.31	to	13.40
2018	4,124,136		14.9993	to	12.8840		57,532,026	4.88	0.65	to	2.30	(4.93)	to	(6.51)
2017	5,191,041		15.7769	to	13.7804		76,940,338	4.16	0.65	to	2.30	8.96	to	7.17
2016	6,181,841		14.4793	to	12.8587		84,955,589	4.95	0.65	to	2.30	13.28	to	11.40
2015	7,202,924		12.7816	to	11.5427		88,276,667	4.65	0.65	to	2.30	(7.66)	to	(9.19)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
FF0
2019	97,632	$	15.9829	to $	15.0064	$	1,539,309	4.92%	1.35%	to	2.10%	14.49%	to	13.62%
2018	130,886		13.9607	to	13.2072		1,804,932	4.63	1.35	to	2.10	(5.71)	to	(6.42)
2017	157,213		14.8062	to	14.1139		2,301,820	3.85	1.35	to	2.10	8.08	to	7.26
2016	174,678		13.6995	to	13.1580		2,367,221	4.61	1.35	to	2.10	12.33	to	11.48
2015	221,349		12.1956	to	11.8032		2,675,685	4.38	1.35	to	2.10	(8.40)	to	(9.10)
F54
2019	4,608,107		20.5707	to	23.7028		121,896,779	1.78	0.65	to	2.30	21.78	to	19.77
2018	5,410,743		16.8922	to	18.0108		118,801,510	2.29	0.65	to	2.55	(9.66)	to	(11.38)
2017	6,319,857		18.6985	to	20.3246		155,223,568	2.18	0.65	to	2.55	7.65	to	5.61
2016	7,296,500		17.3704	to	19.2457		168,372,832	1.98	0.65	to	2.55	15.30	to	13.10
2015	9,046,135		15.0650	to	17.0167		183,026,033	2.98	0.65	to	2.55	(5.55)	to	(7.36)
FG8
2019	11,683		19.6320	to	18.5107		224,329	1.45	1.35	to	2.05	20.79	to	19.94
2018	17,157		16.2532	to	15.4333		274,591	2.27	1.35	to	2.05	(10.39)	to	(11.02)
2017	17,441		18.1374	to	17.3450		312,227	2.13	1.35	to	2.05	6.80	to	6.05
2016	17,750		16.9831	to	16.3559		298,131	1.91	1.35	to	2.05	14.38	to	13.56
2015	19,752		14.8484	to	14.4022		290,680	2.95	1.35	to	2.05	(6.33)	to	(7.00)
F53
2019	564,908		24.7045	to	36.2616		22,684,408	1.05	0.65	to	2.30	25.53	to	23.46
2018	693,799		19.6805	to	26.3599		22,434,949	0.90	0.65	to	2.55	(13.45)	to	(15.10)
2017	828,913		22.7376	to	31.0472		31,372,808	0.52	0.65	to	2.55	9.93	to	7.85
2016	975,482		20.6828	to	28.7869		33,974,255	0.83	0.65	to	2.55	29.34	to	26.87
2015	1,241,308		15.9909	to	22.6902		33,770,572	0.63	0.65	to	2.55	(7.99)	to	(9.75)
FJ9
2019	11,424		23.3463	to	22.0128		261,610	1.07	1.35	to	2.05	24.53	to	23.66
2018	21,789		18.7476	to	17.8018		400,380	0.79	1.35	to	2.05	(14.19)	to	(14.79)
2017	41,607		21.8470	to	20.8925		899,453	0.44	1.35	to	2.05	9.08	to	8.31
2016	44,227		20.0288	to	19.2891		877,516	0.65	1.35	to	2.05	28.36	to	27.45
2015	52,597		15.6030	to	15.1342		813,592	0.53	1.35	to	2.05	(8.77)	to	(9.42)
T28
2019	846,888		13.1901	to	13.5381		12,325,639	5.06	0.65	to	2.25	7.35	to	5.64
2018	930,820		12.2867	to	12.8155		12,748,164	2.76	0.65	to	2.25	(2.77)	to	(4.34)
2017	1,150,422		12.6373	to	13.3963		16,389,786	2.97	0.65	to	2.25	3.88	to	2.22
2016	1,385,829		12.1651	to	13.1050		19,230,035	3.46	0.65	to	2.25	7.24	to	5.51
2015	1,632,712		11.3441	to	12.4205		21,339,869	6.56	0.65	to	2.25	(4.49)	to	(6.03)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
FJ0
2019	12,959	$	12.1933	to $	11.4969	$	155,855	4.56%	1.35%	to	2.05%	6.48%	to	5.73%
2018	19,416		11.4511	to	10.8734		220,573	2.44	1.35	to	2.05	(3.56)	to	(4.24)
2017	23,299		11.8738	to	11.3549		274,294	2.49	1.35	to	2.05	3.06	to	2.33
2016	28,744		11.5214	to	11.0959		329,206	3.06	1.35	to	2.05	6.41	to	5.65
2015	33,869		11.3392	to	10.5022		364,463	5.99	0.65	to	2.05	(3.07)	to	(5.94)
G03
2019	3,522		10.3727				36,538	6.25	1.20			23.43
H24
2019	55,201		14.4934	to	13.5511		783,087	2.65	1.35	to	1.90	5.85	to	5.27
2018	63,919		13.6922	to	12.8733		858,394	3.63	1.35	to	1.90	(5.86)	to	(6.39)
2017	88,851		14.5448	to	13.7514		1,272,105	3.12	1.35	to	1.90	(2.91)	to	(3.45)
2016	103,249		14.9810	to	14.2426		1,527,346	4.49	1.35	to	1.90	5.52	to	4.94
2015	135,046		14.1967	to	13.5725		1,892,317	3.96	1.35	to	1.90	(4.37)	to	(4.90)
H279
2015	-		9.6560	to	9.1381		-	1.75	1.35	to	2.10	3.03	to	2.89
H32
2019	55,082		19.2814	to	17.5910		1,040,138	-	1.35	to	2.10	22.33	to	21.41
2018	68,180		15.7616	to	14.4888		1,054,406	0.66	1.35	to	2.10	(8.44)	to	(9.13)
2017	90,402		17.2141	to	15.9449		1,530,826	0.52	1.35	to	2.10	15.94	to	15.07
2016	122,712		14.8475	to	13.8570		1,796,035	0.62	1.35	to	2.10	9.51	to	8.67
2015	157,815		13.5587	to	12.7511		2,112,682	0.52	1.35	to	2.10	(8.42)	to	(9.12)
V35
2019	271,291		20.6752	to	18.8957		5,387,511	0.41	1.35	to	2.10	23.03	to	22.10
2018	311,378		16.8049	to	15.4750		5,050,033	0.18	1.35	to	2.10	(14.05)	to	(14.70)
2017	400,331		19.5512	to	18.1415		7,594,507	0.58	1.35	to	2.10	8.21	to	7.39
2016	523,944		18.0681	to	15.3400		9,219,910	0.11	1.35	to	2.10	13.66	to	12.80
2015	658,892		15.8962	to	14.9758		10,234,351	0.01	1.35	to	2.10	(10.58)	to	(11.26)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
V13
2019	1,331,139	$	24.9503	to $	17.7062	$	25,022,831	1.67%	0.65%	to	2.10%	24.13%	to	22.33%
2018	1,544,863		20.1003	to	13.7074		23,624,426	1.36	0.65	to	2.55	(12.94)	to	(14.60)
2017	1,780,350		23.0876	to	16.0509		31,650,617	1.95	0.65	to	2.55	16.81	to	14.60
2016	2,109,158		19.7645	to	14.0059		32,417,640	1.29	0.65	to	2.55	16.23	to	14.00
2015	2,533,709		17.0051	to	12.2855		33,829,593	1.58	0.65	to	2.55	(6.80)	to	(8.59)
V11
2019	4,591,136		20.2592	to	18.2691		88,979,408	2.26	0.65	to	2.10	19.23	to	17.50
2018	5,321,052		16.9917	to	15.5479		87,367,855	1.92	0.65	to	2.10	(10.32)	to	(11.62)
2017	6,061,599		18.9464	to	17.5930		112,135,840	1.47	0.65	to	2.10	10.06	to	8.47
2016	6,225,472		17.2143	to	16.2194		105,689,244	1.61	0.65	to	2.10	14.09	to	12.42
2015	7,299,418		15.0885	to	14.4270		109,646,517	2.17	0.65	to	2.10	(3.22)	to	(4.63)
AC1
2019	151,039		16.2221	to	15.2308		2,379,791	1.23	1.35	to	2.10	26.51	to	25.56
2018	193,849		12.8226	to	12.1304		2,426,299	1.77	1.35	to	2.10	(16.35)	to	(16.99)
2017	200,796		15.3295	to	14.6127		3,015,957	1.22	1.35	to	2.10	21.08	to	20.17
2016	210,017		12.6609	to	12.1604		2,613,067	1.15	1.35	to	2.10	(2.04)	to	(2.78)
2015	243,180		12.9242	to	12.5084		3,100,461	1.41	1.35	to	2.10	(3.93)	to	(4.66)
J88
2019	3,728,909		11.7765	to	10.4285		40,491,756	2.38	0.65	to	2.10	7.17	to	5.61
2018	3,741,153		10.9890	to	9.8743		38,269,637	2.30	0.65	to	2.10	(0.88)	to	(2.32)
2017	4,490,602		11.0863	to	9.9802		46,803,470	2.39	0.65	to	2.10	2.63	to	0.94
2016	4,467,729		10.8018	to	9.8869		45,830,587	2.50	0.65	to	2.30	1.17	to	(0.51)
2015	3,583,990		10.6765	to	10.0247		36,693,573	3.11	0.65	to	2.10	0.21	to	(1.25)
J94
2019	574,362		29.7517	to	26.3469		15,769,422	0.62	0.65	to	2.10	30.59	to	28.69
2018	606,692		22.7832	to	20.4724		12,883,908	0.62	0.65	to	2.10	(7.03)	to	(8.39)
2017	595,767		24.5064	to	22.3467		13,758,720	0.69	0.65	to	2.10	21.25	to	19.50
2016	610,046		20.2108	to	18.7003		11,727,631	0.71	0.65	to	2.10	9.97	to	8.37
2015	613,320		18.3776	to	17.2559		10,824,807	0.91	0.65	to	2.10	(0.06)	to	(1.52)
L11
2019	2,926,589		10.7242	to	9.8276		31,286,383	0.88	0.65	to	2.35	17.37	to	15.38
2018	3,351,309		9.1367	to	8.5174		30,828,463	1.85	0.65	to	2.35	(19.09)	to	(20.47)
2017	3,508,497		11.2922	to	10.7098		40,317,841	1.68	0.65	to	2.35	27.00	to	24.85
2016	4,251,904		8.8917	to	8.5784		38,857,707	1.00	0.65	to	2.35	19.99	to	17.94
2015	5,273,665		7.4101	to	7.2733		40,573,672	1.13	0.65	to	2.35	(20.58)	to	(21.94)
L18
2019	665,279		27.3000	to	29.6554		21,837,274	-	0.65	to	2.35	35.48	to	33.18
2018	834,547		20.1504	to	21.7574		20,439,006	-	0.65	to	2.50	(3.52)	to	(5.32)
2017	1,020,692		20.8862	to	22.9788		26,220,456	-	0.65	to	2.50	22.11	to	19.86
2016	1,243,093		17.1039	to	19.1710		26,470,868	-	0.65	to	2.50	0.58	to	(1.30)
2015	1,472,427		17.0061	to	19.4230		31,539,261	-	0.65	to	2.50	2.06	to	0.15
L17
2019	1,152,329		22.3933	to	25.2104		31,755,340	1.20	0.65	to	2.25	20.73	to	18.80
2018	1,358,769		18.5489	to	21.0581		31,371,127	1.43	0.65	to	2.30	(8.76)	to	(10.27)
2017	1,583,940		20.3289	to	23.4681		40,528,331	1.01	0.65	to	2.30	11.85	to	10.00
2016	1,720,494		18.1758	to	21.3338		39,783,024	1.08	0.65	to	2.30	14.99	to	13.08
2015	2,037,566		15.8061	to	18.8657		41,432,558	1.08	0.65	to	2.30	(4.07)	to	(5.66)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
M07
2019	20,851,912	$	15.0746	to $	14.3983	$	308,554,370	2.32%	1.15%	to	1.85%	19.01%	to	18.17%
2018	23,372,110		12.6662	to	12.1847		291,492,108	2.16	1.15	to	1.85	(6.69)	to	(7.36)
2017	26,748,775		13.5747	to	13.1528		358,797,486	2.33	1.15	to	1.85	11.02	to	10.23
2016	29,910,041		12.2267	to	11.9316		362,343,544	2.88	1.15	to	1.85	7.85	to	7.08
2015	33,503,120		11.3363	to	11.1431		377,393,483	2.58	1.15	to	1.85	(1.50)	to	(2.21)
M35
2019	19,920,899		15.3152	to	13.7245		286,329,571	2.10	0.65	to	2.35	19.34	to	17.31
2018	23,179,177		12.8336	to	11.5711		281,998,243	1.94	0.65	to	2.55	(6.49)	to	(8.27)
2017	27,563,591		13.7237	to	12.6143		362,120,950	2.12	0.65	to	2.55	11.30	to	9.19
2016	32,522,599		12.3304	to	11.5526		387,743,049	2.61	0.65	to	2.55	8.11	to	6.04
2015	38,061,626		11.4057	to	10.8944		423,982,545	2.32	0.65	to	2.55	(1.23)	to	(3.11)
M31
2019	3,740,843		21.0558	to	19.9683		152,966,150	-	1.00	to	1.85	36.77	to	35.60
2018	4,316,157		15.3951	to	14.7254		128,977,969	0.09	1.00	to	1.85	1.64	to	0.77
2017	4,789,327		15.1470	to	14.6133		141,290,687	0.10	1.00	to	1.85	30.10	to	28.99
2016	5,426,005		11.6429	to	11.3291		123,629,170	0.04	1.00	to	1.85	1.42	to	0.55
2015	6,024,171		11.4800	to	11.2673		136,388,570	0.15	1.00	to	1.85	6.48	to	5.57
M80
2019	512,464		33.4741	to	51.7228		22,382,240	-	0.65	to	2.25	36.88	to	34.70
2018	581,940		24.4544	to	38.3992		18,852,039	-	0.65	to	2.25	1.74	to	0.11
2017	678,694		24.0356	to	38.3580		21,420,058	-	0.65	to	2.25	30.24	to	28.16
2016	863,914		18.4555	to	28.9819		21,240,396	-	0.65	to	2.30	1.51	to	(2.62)
2015	851,571		18.1802	to	29.7614		20,421,532	-	0.65	to	2.30	6.60	to	4.83
MF1
2019	1,585,873		15.9313	to	13.8562		23,780,230	-	1.15	to	1.85	37.08	to	36.11
2018	1,841,013		11.6216	to	10.1803		20,181,465	-	1.15	to	1.85	0.08	to	(0.64)
2017	2,084,083		11.6128	to	10.2460		22,916,943	0.12	1.15	to	1.85	25.56	to	24.66
2016	2,360,839		9.2491	to	8.2190		20,746,816	-	1.15	to	1.85	3.72	to	2.97
2015	2,692,372		8.9176	to	7.9820		22,872,751	-	1.15	to	1.85	3.42	to	2.68
M41
2019	788,367		28.6884	to	33.6261		25,548,387	-	0.65	to	2.30	37.38	to	35.12
2018	955,706		20.8824	to	24.8865		23,268,767	-	0.65	to	2.30	0.29	to	(1.37)
2017	1,151,944		15.3076	to	22.9447		28,534,920	-	1.15	to	2.30	25.23	to	23.72
2016	1,460,801		12.2240	to	18.5451		29,172,668	-	1.15	to	2.35	3.41	to	2.16
2015	1,724,133		11.8206	to	18.1534		33,576,678	-	1.15	to	2.35	3.23	to	1.98
M05
2019	2,988,255		18.1945	to	17.3698		53,070,736	-	1.00	to	1.85	40.29	to	39.09
2018	3,478,746		12.9696	to	12.4881		44,227,317	-	1.00	to	1.85	(2.47)	to	(3.30)
2017	3,974,846		13.2975	to	12.9145		52,059,415	-	1.00	to	1.85	25.39	to	24.33
2016	4,550,411		10.6045	to	10.3875		47,735,809	-	1.00	to	1.85	7.96	to	7.03
2015	5,274,363		9.8226	to	9.7048		51,473,702	-	1.00	to	1.85	(2.87)	to	(3.70)
M42
2019	1,693,473		24.6879	to	21.8430		36,002,846	-	0.65	to	2.35	40.36	to	37.98
2018	2,203,370		17.5893	to	15.6340		34,009,316	-	0.65	to	2.55	(2.36)	to	(4.22)
2017	2,681,606		18.0142	to	16.3232		42,999,861	-	0.65	to	2.55	25.51	to	23.14
2016	3,472,298		14.3524	to	13.2562		45,183,766	-	0.65	to	2.55	8.09	to	6.02
2015	4,234,433		13.2781	to	12.5030		51,679,700	-	0.65	to	2.55	(2.78)	to	(4.64)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
M89
2019	37,989,667	$	12.4721	to $	10.8599	$	438,069,818	3.15%	0.65%	to	2.30%	9.21%	to	7.41%
2018	41,255,653		11.4207	to	9.9244		439,785,816	2.95	0.65	to	2.55	(1.97)	to	(3.84)
2017	50,252,561		11.6505	to	10.3209		551,839,591	3.10	0.65	to	2.55	3.51	to	1.55
2016	54,097,481		11.2556	to	10.1637		579,337,780	3.20	0.65	to	2.55	3.33	to	1.36
2015	58,329,019		10.8924	to	10.0275		610,129,654	2.99	0.65	to	2.55	(1.23)	to	(3.12)
M82
2019	5,170,576		24.2777	to	21.8715		116,695,377	0.58	0.65	to	2.10	31.74	to	29.83
2018	6,292,487		18.4283	to	16.8461		108,924,665	0.44	0.65	to	2.10	(5.25)	to	(6.63)
2017	7,695,385		19.4490	to	18.0426		142,050,646	1.09	0.65	to	2.10	22.27	to	20.50
2016	9,907,870		15.9063	to	14.6264		151,167,809	0.51	0.65	to	2.30	7.78	to	4.42
2015	11,612,965		14.7576	to	14.0971		166,083,179	0.45	0.65	to	2.10	(0.12)	to	(1.58)
M44
2019	7,697,178		13.2329	to	12.7289		100,358,195	3.96	1.15	to	1.85	23.64	to	22.76
2018	8,893,730		10.7023	to	10.3685		94,027,310	1.09	1.15	to	1.85	(0.10)	to	(0.81)
2017	10,265,356		10.7128	to	10.4535		109,070,327	4.23	1.15	to	1.85	13.53	to	12.72
2016	11,888,231		9.4362	to	9.2738		111,519,024	3.84	1.15	to	1.85	10.20	to	9.41
2015	13,586,264		8.5625	to	8.4762		115,876,289	4.13	1.15	to	1.85	(15.49)	to	(16.10)
M40
2019	3,882,378		13.1581	to	12.2558		49,315,500	3.71	1.00	to	2.30	23.56	to	21.95
2018	4,706,962		10.6496	to	10.0500		48,720,378	0.83	1.00	to	2.30	(0.20)	to	(1.51)
2017	5,932,848		10.6711	to	10.2037		61,936,024	3.99	1.00	to	2.30	13.35	to	11.88
2016	7,287,818		9.4141	to	9.1202		67,546,731	3.56	1.00	to	2.30	10.12	to	8.68
2015	8,723,614		8.5486	to	8.3920		73,904,560	3.83	1.00	to	2.30	(15.61)	to	(16.72)
M83
2019	11,986,049		15.7464	to	20.1686		219,810,033	2.10	1.15	to	2.50	28.32	to	26.58
2018	14,114,772		12.2708	to	15.9337		203,900,118	1.52	1.15	to	2.50	(11.12)	to	(12.33)
2017	16,073,885		13.7996	to	18.1754		262,999,598	1.90	1.15	to	2.50	16.30	to	14.73
2016	19,203,768		11.8689	to	15.8414		272,478,586	2.08	1.15	to	2.50	12.79	to	11.24
2015	22,857,789		10.5228	to	14.8028		291,415,553	2.19	1.15	to	2.55	(1.87)	to	0.71
M08
2019	5,322,655		22.6372	to	20.1014		104,013,424	1.87	0.65	to	2.30	28.66	to	26.55
2018	6,444,994		17.5939	to	15.8843		99,305,473	1.29	0.65	to	2.30	(10.94)	to	(12.42)
2017	7,634,946		19.7556	to	18.0898		133,865,829	1.70	0.65	to	2.30	16.59	to	14.61
2016	9,064,489		16.9448	to	14.9209		137,624,810	1.86	0.65	to	2.50	13.04	to	5.53
2015	10,766,656		14.9906	to	14.1384		146,351,882	2.02	0.65	to	2.50	(1.58)	to	(3.41)
MB6
2019	6,487,980		42.3746	to	22.5117		251,155,159	1.47	1.15	to	1.85	27.70	to	26.80
2018	7,473,605		19.5217	to	17.7543		226,421,225	1.35	1.15	to	1.85	(8.80)	to	(9.45)
2017	8,571,456		21.1244	to	19.6069		285,143,459	1.49	1.15	to	1.85	19.38	to	18.54
2016	9,827,330		30.4722	to	16.5398		274,414,193	1.43	1.15	to	1.85	7.21	to	6.44
2015	11,089,198		28.4221	to	15.5391		290,589,545	1.57	1.15	to	1.85	(0.02)	to	(0.74)
MB7
2019	1,845,504		29.2725	to	28.4960		59,738,770	1.24	1.00	to	2.50	27.59	to	25.67
2018	2,169,101		22.9432	to	22.6747		55,602,465	1.12	1.00	to	2.50	(8.91)	to	(10.29)
2017	2,537,208		25.1886	to	25.2752		72,128,774	1.29	1.00	to	2.50	19.27	to	17.48
2016	3,165,481		21.1190	to	21.5140		76,171,922	1.25	1.00	to	2.50	7.09	to	5.47
2015	3,811,047		19.7201	to	21.0114		86,489,467	1.25	1.00	to	2.55	(0.14)	to	1.91
MC0
2019	1,943,211		26.9909	to	22.9516		48,982,248	3.78	1.15	to	1.85	13.35	to	12.54
2018	2,179,178		23.8130	to	20.3944		48,602,145	3.83	1.15	to	1.85	(4.11)	to	(4.80)
2017	2,441,264		23.6529	to	21.4218		57,018,142	3.71	1.15	to	1.85	5.17	to	4.43
2016	2,639,684		23.6109	to	20.5132		58,807,589	4.07	1.15	to	1.85	5.08	to	4.32
2015	2,988,943		22.4704	to	19.6641		63,529,911	3.96	1.15	to	1.85	(1.45)	to	(2.16)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
MA0
2019	6,042,604	$	14.2930	to $	15.7393	$	119,375,562	3.56%	0.65%	to	2.30%	13.71%	to	11.84%
2018	6,527,847		12.5691	to	14.0727		114,567,450	3.56	0.65	to	2.30	(3.94)	to	(5.53)
2017	8,061,502		13.0848	to	14.8968		148,735,679	3.48	0.65	to	2.30	5.42	to	3.69
2016	8,446,444		12.4116	to	14.0494		149,405,681	3.90	0.65	to	2.50	5.29	to	3.91
2015	9,138,528		11.7876	to	13.5201		155,094,085	3.78	0.65	to	2.50	(1.23)	to	(3.07)
MC2
2019	2,842,931		45.1674	to	28.3230		99,104,962	0.80	1.15	to	1.85	31.68	to	30.74
2018	3,277,605		34.3018	to	21.6637		87,496,028	0.67	1.15	to	1.85	(4.93)	to	(5.61)
2017	3,720,811		36.0812	to	22.9519		104,851,766	0.94	1.15	to	1.85	23.41	to	22.53
2016	4,258,493		29.2369	to	18.7314		97,617,989	0.76	1.15	to	1.85	10.11	to	9.32
2015	4,776,662		26.5525	to	17.1351		99,683,494	0.55	1.15	to	1.85	(1.34)	to	(2.05)
MC1
2019	1,523,361		30.8774	to	23.4566		40,168,506	0.55	0.65	to	2.25	32.01	to	29.90
2018	1,773,236		23.3905	to	18.0574		35,718,016	0.44	0.65	to	2.25	(4.69)	to	(6.23)
2017	1,906,718		24.5425	to	19.2561		40,697,930	0.69	0.65	to	2.25	23.70	to	21.73
2016	2,161,230		19.8405	to	15.8192		37,582,688	0.45	0.65	to	2.25	10.35	to	8.57
2015	2,594,573		17.9804	to	14.5707		41,219,748	0.30	0.65	to	2.25	(1.05)	to	(2.65)
MC3
2019	504,336		33.5786	to	28.4361		16,599,951	0.66	1.00	to	1.85	19.31	to	18.30
2018	554,697		28.1431	to	24.0378		15,397,927	0.34	1.00	to	1.85	(14.80)	to	(15.53)
2017	634,839		33.0334	to	28.4588		20,782,715	1.07	1.00	to	1.85	36.58	to	35.42
2016	699,804		24.1864	to	21.0156		16,866,599	0.62	1.00	to	1.85	8.27	to	7.34
2015	796,990		22.3385	to	19.5780		17,765,433	0.94	1.00	to	1.85	(13.76)	to	(14.51)
MA1
2019	858,553		11.3658	to	15.1481		15,637,358	0.39	0.65	to	2.30	19.40	to	17.43
2018	1,031,804		9.5190	to	12.4719		15,818,098	0.11	0.65	to	2.55	(14.69)	to	(16.32)
2017	1,143,328		11.1584	to	14.9044		20,721,186	0.87	0.65	to	2.55	36.77	to	34.18
2016	1,403,830		8.1584	to	11.1075		18,711,593	0.37	0.65	to	2.55	8.33	to	6.26
2015	1,637,155		7.5307	to	10.4527		20,171,751	0.58	0.65	to	2.55	(13.65)	to	(15.30)
MC4
2019	488,093		17.9328	to	15.2520		9,214,260	2.47	1.00	to	1.85	5.02	to	4.12
2018	491,260		17.0758	to	14.6479		8,788,957	0.96	1.00	to	1.85	(2.10)	to	(2.94)
2017	560,127		17.4420	to	15.0913		10,319,234	-	1.00	to	1.85	5.93	to	5.02
2016	640,441		16.4663	to	14.3695		11,249,055	-	1.00	to	1.85	(0.70)	to	(1.55)
2015	689,912		16.5821	to	14.5958		12,301,550	2.44	1.00	to	1.85	(4.62)	to	(5.44)
MC5
2019	54,156		16.2674	to	14.2806		803,500	2.12	1.15	to	1.85	4.58	to	3.84
2018	57,413		15.5555	to	13.7522		822,077	0.59	1.15	to	1.85	(2.46)	to	(3.15)
2017	70,046		15.9475	to	14.1990		1,030,360	-	1.15	to	1.85	5.49	to	4.75
2016	111,398		15.1182	to	13.5556		1,568,339	-	1.15	to	1.85	(1.15)	to	(1.85)
2015	110,442		15.2941	to	15.0234		1,583,099	2.55	1.15	to	2.05	(4.96)	to	(0.34)
MC6
2019	1,046,941		52.8547	to	22.7764		48,073,037	0.56	1.15	to	1.85	34.46	to	33.50
2018	1,208,296		39.3087	to	17.0605		41,358,792	0.50	1.15	to	1.85	(5.92)	to	(6.59)
2017	1,418,436		41.7825	to	18.2650		51,346,527	1.08	1.15	to	1.85	30.64	to	29.71
2016	1,566,590		31.9832	to	14.0815		43,506,302	0.58	1.15	to	1.85	4.86	to	4.11
2015	1,741,127		30.4997	to	13.5259		46,420,205	0.95	1.15	to	1.85	(2.66)	to	(3.36)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
MC7
2019	62,083	$	33.5290	to $	36.4438	$	2,098,442	0.26%	1.15%	to	2.10%	34.10%	to	32.83%
2018	66,578		25.0026	to	24.3194		1,746,938	0.18	1.15	to	2.55	(6.16)	to	(7.48)
2017	86,375		26.6434	to	26.2859		2,493,312	0.82	1.15	to	2.55	30.26	to	28.44
2016	104,234		20.4535	to	20.4656		2,325,270	0.35	1.15	to	2.55	4.63	to	3.15
2015	96,438		19.5480	to	19.8404		1,996,561	0.62	1.15	to	2.55	(2.95)	to	(4.33)
MC8
2019	2,503,331		32.1194	to	15.9005		82,722,075	1.05	1.15	to	1.85	30.46	to	29.53
2018	2,886,932		24.6202	to	12.2754		73,514,254	0.98	1.15	to	1.85	(9.87)	to	(10.52)
2017	3,335,907		27.3168	to	13.7182		93,561,955	1.55	1.15	to	1.85	24.09	to	23.21
2016	3,836,452		22.0136	to	11.1342		86,911,841	1.12	1.15	to	1.85	4.24	to	3.49
2015	4,325,426		21.1183	to	10.7590		93,596,211	1.26	1.15	to	1.85	(1.94)	to	(2.65)
MC9
2019	196,208		23.0220	to	26.1665		4,864,373	0.75	1.10	to	2.10	30.17	to	28.87
2018	237,401		17.6857	to	20.3047		4,525,231	0.69	1.10	to	2.10	(10.07)	to	(10.97)
2017	286,878		19.6652	to	24.0412		6,164,998	1.31	1.10	to	2.10	23.80	to	22.38
2016	369,037		15.8845	to	19.6450		6,490,047	0.81	1.10	to	2.25	4.05	to	2.84
2015	422,318		15.2657	to	19.1018		7,232,070	0.96	1.10	to	2.25	(2.18)	to	(3.32)
MD0
2019	1,307,551		33.6202	to	20.8714		41,117,262	2.76	1.15	to	1.85	13.28	to	12.47
2018	1,492,809		29.6796	to	18.5572		41,494,783	0.78	1.15	to	1.85	(5.60)	to	(6.27)
2017	1,660,704		31.4392	to	19.7991		49,219,805	3.09	1.15	to	1.85	9.57	to	8.79
2016	1,899,277		28.6923	to	18.1988		51,409,257	0.00	1.15	to	1.85	5.03	to	4.27
2015	2,118,016		27.3178	to	17.4528		54,757,714	5.17	1.15	to	1.85	(3.34)	to	(4.04)
M92
2019	36,890,746		14.7155	to	13.2480		517,149,066	2.53	0.65	to	2.10	13.56	to	11.91
2018	41,927,838		12.9584	to	11.3564		522,436,665	0.50	0.65	to	2.55	(5.42)	to	(7.23)
2017	49,628,528		13.7016	to	12.2413		660,187,553	2.90	0.65	to	2.55	9.87	to	7.79
2016	56,171,972		12.4709	to	11.3569		686,213,466	0.00	0.65	to	2.55	5.29	to	3.28
2015	61,825,683		11.8441	to	10.9963		724,423,931	4.89	0.65	to	2.55	(3.12)	to	(4.98)
M96
2019	3,639,440		20.9862	to	15.8911		72,819,390	2.99	1.15	to	1.85	5.31	to	4.56
2018	3,973,046		19.9272	to	15.1974		75,920,316	3.21	1.15	to	1.85	(0.68)	to	(1.39)
2017	4,489,943		17.2070	to	15.4120		86,941,433	3.10	1.15	to	1.85	1.05	to	0.34
2016	4,799,909		19.8527	to	15.3592		92,685,337	2.68	1.15	to	1.85	(0.11)	to	(0.83)
2015	5,257,120		19.8742	to	15.4874		102,055,769	2.73	1.15	to	1.85	(0.67)	to	(1.39)
MD2
2019	11,100,477		11.2446	to	11.0487		147,558,037	2.69	0.65	to	2.50	5.66	to	3.71
2018	12,122,983		10.6424	to	10.6537		154,081,038	2.92	0.65	to	2.50	(0.48)	to	(2.33)
2017	14,812,278		10.6942	to	10.9081		191,222,631	2.80	0.65	to	2.50	1.37	to	(0.51)
2016	16,682,003		10.5502	to	10.9635		214,602,842	2.37	0.65	to	2.50	0.02	to	(1.84)
2015	18,001,929		10.5479	to	11.2494		233,787,906	2.39	0.65	to	2.55	(0.40)	to	(0.96)
MA6
2019	1,688,655		25.1272	to	21.3330		47,736,189	5.60	1.00	to	1.85	13.66	to	12.69
2018	1,900,008		22.1072	to	18.9302		47,713,973	5.56	1.00	to	1.85	(4.05)	to	(4.87)
2017	2,138,564		23.0408	to	19.9002		56,471,575	6.41	1.00	to	1.85	5.62	to	4.73
2016	2,350,891		21.8140	to	19.0023		59,541,819	6.62	1.00	to	1.85	12.69	to	11.72
2015	2,734,375		19.3581	to	17.0090		61,795,969	6.84	1.00	to	1.85	(5.18)	to	(5.99)
MA3
2019	1,558,342		13.5966	to	18.2086		35,601,324	5.36	0.65	to	2.50	13.69	to	11.59
2018	1,798,423		11.9591	to	16.3168		36,323,910	5.31	0.65	to	2.50	(3.87)	to	(5.66)
2017	2,196,928		12.4407	to	17.2951		46,577,368	6.18	0.65	to	2.50	5.62	to	3.67
2016	2,592,985		11.7787	to	16.6825		52,755,833	6.38	0.65	to	2.50	12.91	to	10.80
2015	3,167,879		10.4323	to	15.9129		57,755,878	6.36	0.65	to	2.55	(5.04)	to	(0.91)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
M97
2019	1,237,228	$	27.1338	to $	23.4630	$	35,189,191	1.19%	1.00%	to	1.85%	26.03%	to	24.95%
2018	1,477,939		21.5299	to	18.7772		33,622,626	1.00	1.00	to	1.85	(9.93)	to	(10.71)
2017	1,626,676		23.9046	to	21.0285		41,434,975	1.35	1.00	to	1.85	31.32	to	30.20
2016	1,863,912		18.2037	to	16.1509		36,365,158	1.15	1.00	to	1.85	1.47	to	0.60
2015	2,078,687		17.9405	to	16.0552		40,049,140	1.55	1.00	to	1.85	(0.68)	to	(1.54)
MD5
2019	808,213		17.7677	to	15.4613		15,834,413	0.97	0.65	to	2.10	26.29	to	24.46
2018	962,074		14.0694	to	12.4231		15,071,974	0.80	0.65	to	2.10	(9.89)	to	(11.21)
2017	1,078,505		15.6143	to	13.9913		18,981,547	1.11	0.65	to	2.10	31.49	to	29.59
2016	1,260,948		11.8749	to	10.7967		16,974,565	0.88	0.65	to	2.10	1.49	to	0.01
2015	1,348,083		11.7007	to	10.7959		18,095,128	1.28	0.65	to	2.10	(0.55)	to	(2.00)
M98
2019	934,776		56.3598	to	33.4739		41,533,157	1.83	1.15	to	1.85	24.51	to	23.62
2018	1,074,993		45.2653	to	27.0771		38,478,624	1.09	1.15	to	1.85	(10.53)	to	(11.17)
2017	1,198,867		50.5904	to	30.4809		48,280,305	1.46	1.15	to	1.85	25.70	to	24.81
2016	1,344,992		40.2464	to	24.4224		43,324,841	1.33	1.15	to	1.85	2.87	to	2.13
2015	1,495,078		39.1244	to	23.9140		46,933,339	1.92	1.15	to	1.85	5.44	to	4.68
M93
2019	4,106,841		22.9326	to	17.9314		81,110,609	1.43	0.65	to	2.25	24.84	to	22.84
2018	5,081,903		18.3700	to	14.5970		81,180,035	0.89	0.65	to	2.25	(10.31)	to	(11.76)
2017	5,752,465		20.4825	to	16.5415		103,459,909	1.25	0.65	to	2.25	26.00	to	23.99
2016	7,480,028		16.2563	to	13.3412		107,609,241	1.11	0.65	to	2.25	3.17	to	1.51
2015	8,395,446		15.7574	to	13.1434		118,129,065	1.68	0.65	to	2.25	5.63	to	3.93
MD6
2019	11,233,612		21.6551	to	19.8213		330,355,652	0.58	1.00	to	1.85	38.56	to	37.38
2018	13,004,247		15.6292	to	14.4286		276,836,568	0.57	1.00	to	1.85	(0.20)	to	(1.06)
2017	14,886,576		15.6611	to	14.5830		318,872,497	0.64	1.00	to	1.85	27.15	to	26.06
2016	16,970,462		12.3173	to	11.5679		287,428,792	0.59	1.00	to	1.85	5.01	to	4.11
2015	19,246,726		11.7292	to	11.1109		311,395,276	0.49	1.00	to	1.85	(1.11)	to	(1.96)
MB3
2019	1,119,963		31.2923	to	33.1589		36,267,396	0.34	1.00	to	2.30	38.19	to	36.39
2018	1,313,651		22.6443	to	24.3110		30,935,440	0.33	1.00	to	2.30	(0.43)	to	(1.74)
2017	1,558,343		22.7430	to	24.5561		37,335,745	0.41	1.00	to	2.30	26.82	to	25.11
2016	1,833,885		17.9326	to	19.3889		34,998,962	0.37	1.00	to	2.50	4.78	to	4.10
2015	2,067,810		17.1139	to	18.6244		37,896,204	0.44	1.00	to	2.50	(1.33)	to	(2.83)
MD8
2019	3,364,994		11.9190	to	9.1323		37,977,970	1.63	1.15	to	1.85	0.48	to	(0.24)
2018	3,729,600		11.8621	to	9.1539		42,172,705	1.24	1.15	to	1.85	0.10	to	(0.62)
2017	4,346,081		11.8502	to	9.2106		49,280,656	0.29	1.15	to	1.85	(0.84)	to	(1.55)
2016	4,698,353		11.9508	to	9.3554		54,106,028	0.01	1.15	to	1.85	(1.13)	to	(1.84)
2015	5,440,048		12.0872	to	9.5310		63,450,866	-	1.15	to	1.85	(1.14)	to	(1.85)
MD9
2019	12,065,194		9.8538	to	7.7712		107,716,092	1.63	0.65	to	2.50	0.98	to	(0.89)
2018	13,539,953		9.7586	to	7.7780		120,800,340	1.24	0.65	to	2.55	0.60	to	(1.32)
2017	15,193,772		9.7005	to	7.8820		136,576,068	0.27	0.65	to	2.55	(0.36)	to	(2.25)
2016	18,785,298		9.7360	to	8.0637		170,982,388	0.01	0.65	to	2.55	(0.64)	to	(2.54)
2015	18,207,733		9.7989	to	8.3576		168,401,641	-	0.65	to	2.55	(0.65)	to	(1.57)

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
ME2
2019	932,101	$	32.3022	to $	16.8736	$	20,256,254	1.46%	1.15%	to	1.85%	26.59%	to	25.69%
2018	1,042,465		25.5179	to	13.4252		17,993,248	1.45	1.15	to	1.85	(15.11)	to	(15.72)
2017	1,141,329		17.4281	to	15.9287		23,371,436	1.86	1.15	to	1.85	26.82	to	25.93
2016	1,315,665		23.6996	to	12.6486		21,301,442	1.57	1.15	to	1.85	(1.83)	to	(2.54)
2015	1,495,623		24.1416	to	12.9781		24,634,929	1.93	1.15	to	1.85	(3.08)	to	(3.78)
ME3
2019	1,520,079		15.2365	to	22.3803		38,549,046	1.19	0.65	to	2.30	26.84	to	24.75
2018	1,836,472		18.4314	to	17.9397		37,158,328	1.16	1.15	to	2.30	(15.31)	to	(16.29)
2017	2,028,320		21.7632	to	22.3708		48,795,329	1.56	1.15	to	2.30	26.44	to	24.98
2016	2,632,854		17.2127	to	16.9084		50,418,946	1.34	1.15	to	2.50	(2.05)	to	(2.03)
2015	2,946,172		17.5735	to	17.2595		57,887,140	1.69	1.15	to	2.50	(3.32)	to	(4.64)
MA5
2019	1,166,830		23.3272	to	19.9843		25,413,532	3.51	1.15	to	1.85	10.33	to	9.55
2018	1,231,924		21.1430	to	18.2429		24,401,310	3.97	1.15	to	1.85	(3.11)	to	(3.80)
2017	1,331,223		21.8216	to	18.9642		27,284,742	4.59	1.15	to	1.85	5.03	to	4.28
2016	1,449,592		20.7762	to	18.1852		28,360,544	3.06	1.15	to	1.85	7.01	to	6.24
2015	1,688,630		19.4153	to	17.1175		30,929,998	5.58	1.15	to	1.85	(2.97)	to	(3.67)
MA7
2019	208,505		21.1297	to	17.4621		4,050,311	3.24	1.15	to	2.10	10.01	to	8.97
2018	237,611		19.2064	to	16.0251		4,209,261	3.62	1.15	to	2.10	(3.24)	to	(4.16)
2017	273,266		19.8489	to	16.7212		5,014,013	4.47	1.15	to	2.10	4.67	to	3.68
2016	369,423		18.9631	to	16.1284		6,463,203	2.85	1.15	to	2.10	6.76	to	5.73
2015	378,492		17.7625	to	15.2539		6,242,579	5.56	1.15	to	2.10	(3.19)	to	(4.12)
ME4
2019	998,683		20.0112	to	16.2986		17,984,787	-	1.15	to	1.85	34.59	to	33.65
2018	1,220,819		13.9374	to	12.1950		16,422,089	-	1.15	to	1.85	0.57	to	(0.15)
2017	1,385,665		14.7855	to	12.2136		18,552,134	-	1.15	to	1.85	37.41	to	36.45
2016	1,549,172		10.7600	to	8.9511		15,195,193	-	1.15	to	1.85	7.46	to	6.68
2015	1,705,852		10.0145	to	8.3903		15,593,420	-	1.15	to	1.85	9.49	to	8.70
MA2
2019	49,526		39.6947	to	37.4828		1,658,655	-	1.15	to	2.05	34.32	to	33.11
2018	46,625		29.5533	to	28.1602		1,370,549	-	1.15	to	2.05	0.35	to	(0.56)
2017	66,266		29.4506	to	28.3191		1,893,319	-	1.15	to	2.05	37.06	to	35.83
2016	69,292		21.4868	to	20.8489		1,456,202	-	1.15	to	2.05	7.14	to	6.16
2015	75,216		20.0550	to	19.6383		1,480,354	-	1.15	to	2.05	9.26	to	8.27

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DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
MF3
2019	2,340,999	$	28.2240	to $	20.6585	$	52,379,843	0.47%	0.65%	to	2.30%	25.54%	to	23.47%
2018	2,805,821		22.4828	to	16.7318		50,559,537	0.58	0.65	to	2.30	(5.97)	to	(7.53)
2017	3,443,010		23.9106	to	18.0944		66,706,871	0.61	0.65	to	2.30	13.95	to	12.08
2016	4,055,584		20.9829	to	16.1445		69,692,673	0.92	0.65	to	2.30	19.80	to	17.81
2015	5,343,286		17.5150	to	13.7037		77,471,696	0.32	0.65	to	2.30	(5.00)	to	(6.58)
MF5
2019	22,941,913		15.8017	to	16.7750		405,951,754	2.34	0.65	to	2.10	15.72	to	14.04
2018	26,810,432		13.6551	to	14.0355		414,465,602	1.89	0.65	to	2.55	(3.56)	to	(5.40)
2017	32,045,960		14.1589	to	14.8364		518,959,227	1.86	0.65	to	2.55	10.52	to	8.42
2016	38,928,761		12.8118	to	13.6840		575,990,066	2.42	0.65	to	2.55	4.05	to	2.06
2015	45,325,104		12.3135	to	13.4082		650,867,979	2.85	0.65	to	2.55	(1.14)	to	(3.03)
MF6
2019	52,821		35.2256	to	31.4072		1,744,187	3.63	1.35	to	2.30	25.17	to	23.97
2018	62,209		28.1431	to	21.0070		1,644,682	4.07	1.35	to	2.55	(4.34)	to	(5.50)
2017	76,502		29.4215	to	22.2303		2,125,475	4.14	1.35	to	2.55	11.81	to	10.46
2016	90,462		26.3141	to	20.1245		2,257,599	2.55	1.35	to	2.55	6.48	to	5.19
2015	112,828		24.7122	to	19.1320		2,640,528	3.97	1.35	to	2.55	(0.62)	to	(1.82)
MF7
2019	2,253,830		20.4845	to	20.2009		50,523,551	2.83	0.65	to	2.35	25.85	to	23.72
2018	2,678,520		16.2765	to	15.9585		48,236,259	3.15	0.65	to	2.50	(3.97)	to	(5.75)
2017	3,417,578		16.9486	to	16.9319		64,836,183	3.34	0.65	to	2.50	12.33	to	10.26
2016	4,098,331		15.0877	to	15.3561		69,972,782	1.97	0.65	to	2.50	7.00	to	5.01
2015	4,791,411		14.1003	to	14.6231		77,277,420	3.27	0.65	to	2.50	(0.18)	to	(2.04)
MF9
2019	12,493,257		21.2067	to	24.2321		325,781,690	1.98	0.65	to	2.30	25.84	to	23.77
2018	14,628,661		16.8520	to	19.5785		306,459,709	1.53	0.65	to	2.30	(6.08)	to	(7.63)
2017	17,175,741		17.9426	to	21.1967		387,084,303	1.58	0.65	to	2.30	18.74	to	16.78
2016	20,358,832		15.1113	to	18.1505		390,486,019	2.45	0.65	to	2.30	6.24	to	4.48
2015	23,810,696		14.2233	to	17.3724		434,272,098	4.01	0.65	to	2.30	(0.35)	to	(2.01)

- 154 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,					For the years ended December 31,
							Investment
						Net	Income	Expense Ratio
	Units		Unit Value4			Assets	Ratio1	lowest to highest2			Total Return3
MG1
2019	9,471,698	$	11.5440	to $	11.4256	$ 116,989,865	1.39%	0.65%	to	2.30%	7.35%	to	5.58%
2018	10,546,363		10.7537	to	10.8217	122,512,404	1.41	0.65	to	2.30	(5.32)	to	(6.89)
2017	12,433,916		11.3584	to	11.6227	154,195,257	-	0.65	to	2.30	7.29	to	5.52
2016	13,465,623		10.5868	to	11.0145	157,145,585	-	0.65	to	2.30	1.72	to	0.03
2015	14,182,033		10.4082	to	11.0116	164,263,639	0.40	0.65	to	2.30	(5.88)	to	(7.45)
MF2
2019	18,692,242		10.8479	to	9.3915	192,914,646	2.64	1.30	to	2.50	3.82	to	2.57
2018	20,371,715		10.4484	to	9.1557	203,393,960	1.99	1.30	to	2.50	(0.04)	to	(1.25)
2017	25,006,600		10.4531	to	9.2719	250,847,512	1.58	1.30	to	2.50	0.41	to	(0.79)
2016	27,490,632		10.4101	to	9.3462	275,872,908	1.35	1.30	to	2.50	0.36	to	(0.86)
2015	30,382,434		10.3725	to	9.4944	305,073,432	1.30	1.30	to	2.55	(0.83)	to	(0.99)
MG2
2019	10,825,862		10.5709	to	9.5576	109,445,390	2.39	0.65	to	2.10	4.21	to	2.70
2018	11,204,328		10.1434	to	9.3060	109,785,950	1.72	0.65	to	2.10	0.33	to	(1.13)
2017	13,429,422		10.1103	to	9.4127	132,553,973	1.32	0.65	to	2.10	0.79	to	(0.67)
2016	14,365,301		10.0311	to	9.4762	142,051,166	1.05	0.65	to	2.10	0.82	to	(0.65)
2015	16,047,854		9.9493	to	9.5382	158,937,215	1.04	0.65	to	2.10	(0.37)	to	(1.83)
MG3
2019	1,024,055		25.3101	to	22.4470	24,538,343	1.27	1.30	to	2.30	29.42	to	28.12
2018	1,245,032		19.5567	to	17.5199	23,170,786	0.87	1.30	to	2.30	(12.60)	to	(13.49)
2017	1,418,470		22.3771	to	20.2510	30,353,538	1.23	1.30	to	2.30	12.20	to	11.08
2016	1,665,751		19.9432	to	18.2309	31,932,872	0.86	1.30	to	2.30	14.47	to	13.31
2015	2,078,651		17.4222	to	16.0893	34,980,102	0.93	1.30	to	2.30	(3.60)	to	(4.57)
MG4
2019	902,847		27.1282	to	22.3061	21,333,453	0.97	0.65	to	2.10	29.86	to	27.98
2018	1,126,976		20.8908	to	17.4300	20,713,591	0.66	0.65	to	2.10	(12.19)	to	(13.47)
2017	1,375,595		23.7913	to	20.1438	29,079,628	1.03	0.65	to	2.10	12.67	to	11.04
2016	1,552,431		21.1154	to	16.1967	29,418,427	0.67	0.65	to	2.15	15.01	to	1.59
2015	1,911,690		18.3596	to	15.9433	31,822,181	0.69	0.65	to	2.15	(3.29)	to	(4.75)
MG6
2019	59,093,135		18.5528	to	20.9032	1,302,584,592	2.21	0.65	to	2.10	21.11	to	19.35
2018	68,298,700		15.3192	to	17.5137	1,255,969,013	1.83	0.65	to	2.10	(4.75)	to	(6.14)
2017	79,683,750		16.0837	to	18.3989	1,554,414,108	1.78	0.65	to	2.10	14.49	to	12.66
2016	92,397,930		14.0486	to	16.3314	1,590,095,837	2.53	0.65	to	2.25	5.18	to	3.48
2015	102,938,721		13.3571	to	15.7817	1,700,470,142	3.65	0.65	to	2.25	(0.52)	to	(2.12)
MG7
2019	251,133		26.4623	to	28.9714	7,626,096	0.53	0.65	to	2.10	32.56	to	30.64
2018	315,136		19.9625	to	22.1766	7,295,067	0.25	0.65	to	2.10	(11.58)	to	(12.87)
2017	369,553		22.5770	to	25.4523	9,790,084	0.77	0.65	to	2.10	14.27	to	12.61
2016	320,776		19.7581	to	20.1485	7,536,524	0.64	0.65	to	2.25	25.91	to	11.84
2015	402,041		15.6921	to	18.2161	7,573,913	0.31	0.65	to	2.10	(3.53)	to	(4.94)
V44
2019	353,950		34.6435	to	30.6790	11,234,842	-	0.65	to	2.10	30.61	to	28.72
2018	394,577		26.5236	to	23.8336	9,712,851	-	0.65	to	2.10	6.60	to	5.04
2017	379,850		24.8821	to	22.4004	8,875,409	-	0.65	to	2.10	41.90	to	39.56
2016	337,618		17.5355	to	16.0506	5,605,835	-	0.65	to	2.30	(2.56)	to	(4.18)
2015	207,421		17.9962	to	16.7505	3,575,777	-	0.65	to	2.30	11.24	to	9.39

- 155 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
V43
2019	278,593	$	27.0537	to $	26.6870	$	7,856,010	-%	0.65%	to	2.10%	39.06%	to	37.04%
2018	315,995		19.4551	to	19.4736		6,474,748	-	0.65	to	2.10	9.81	to	8.20
2017	362,270		19.3957	to	17.9971		6,836,255	-	1.35	to	2.10	36.74	to	35.71
2016	468,136		14.1847	to	13.2616		6,469,819	-	1.35	to	2.10	(10.07)	to	(10.76)
2015	479,964		15.7736	to	14.8601		7,397,574	-	1.35	to	2.10	(7.26)	to	(7.96)
O19
2019	420,729		27.3210	to	27.4130		13,908,076	-	1.30	to	2.30	34.08	to	32.74
2018	513,394		20.3759	to	19.4884		12,674,828	-	1.30	to	2.35	(7.18)	to	(8.16)
2017	596,679		22.1306	to	21.2210		15,940,507	0.01	1.30	to	2.35	25.68	to	23.55
2016	778,076		16.9815	to	17.1754		16,765,951	0.12	0.65	to	2.35	(6.51)	to	(4.72)
2015	911,851		18.1646	to	18.0266		20,459,674	-	0.65	to	2.35	2.60	to	0.84
O23
2019	967,190		11.8170	to	10.7166		11,010,608	2.02	1.35	to	2.10	15.64	to	14.77
2018	1,046,363		10.2190	to	9.3377		10,331,463	1.76	1.35	to	2.10	(6.81)	to	(7.52)
2017	1,132,316		11.0263	to	10.0966		12,031,669	1.73	1.30	to	2.10	7.54	to	6.68
2016	1,113,958		10.3640	to	9.4228		11,018,271	2.12	1.30	to	2.10	4.72	to	2.76
2015	1,051,993		9.8973	to	9.1845		10,095,675	2.01	1.30	to	2.10	(0.74)	to	(1.55)
O20
2019	518,280		23.1704	to	27.2588		15,548,955	0.62	0.65	to	2.25	30.60	to	28.51
2018	653,189		17.7414	to	21.2107		15,149,305	0.76	0.65	to	2.25	(13.96)	to	(15.34)
2017	742,825		20.6196	to	25.0546		20,253,728	0.70	0.65	to	2.25	35.44	to	33.28
2016	917,004		15.2246	to	18.7989		18,640,711	0.79	0.65	to	2.25	(0.81)	to	(2.40)
2015	1,162,408		15.3483	to	18.6697		24,056,298	1.06	0.65	to	2.25	3.00	to	(1.78)
O21
2019	4,719,995		28.7756	to	26.6808		152,120,634	0.82	1.30	to	2.50	30.03	to	28.47
2018	5,849,961		22.1301	to	20.7688		145,625,526	0.91	1.30	to	2.50	(9.30)	to	(10.39)
2017	6,885,439		24.3981	to	23.1777		189,799,968	1.04	1.30	to	2.50	15.13	to	13.74
2016	8,523,438		21.1924	to	20.3773		205,092,333	0.86	1.30	to	2.50	9.85	to	8.52
2015	10,443,174		19.2919	to	18.9782		229,753,746	0.65	1.30	to	2.55	1.77	to	3.14
O04
2019	112,700		45.8637	to	39.1083		4,793,286	-	1.35	to	2.25	24.44	to	23.31
2018	133,222		36.8575	to	31.7147		4,562,326	0.06	1.35	to	2.25	(11.75)	to	(12.55)
2017	163,130		30.7748	to	36.2667		6,344,911	0.64	1.35	to	2.25	12.44	to	11.37
2016	204,714		27.3709	to	29.8788		7,092,483	0.25	1.30	to	2.25	16.14	to	15.02
2015	208,260		23.5667	to	28.3115		6,257,962	0.64	1.30	to	2.25	(7.31)	to	(7.24)
PH2
2019	23,358		16.4478	to	15.9711		376,666	1.47	1.35	to	1.70	25.81	to	25.36
2018	28,613		13.0736	to	12.5993		367,455	1.48	1.35	to	1.85	(11.95)	to	(12.40)
2017	37,723		14.8480	to	14.3363		552,210	3.35	1.35	to	1.85	21.34	to	20.67
2016	25,868		12.2369	to	11.4183		313,754	4.98	1.35	to	2.10	6.29	to	2.48
2015	17,585		11.5124	to	11.1420		200,218	5.36	1.35	to	2.10	(10.25)	to	8.04
P08
2019	1,102,174		16.1693	to	14.2034		16,987,769	2.93	1.35	to	2.25	10.39	to	9.39
2018	1,178,282		14.6475	to	12.9838		16,485,880	3.10	1.35	to	2.25	(6.69)	to	(7.53)
2017	1,399,377		15.6974	to	14.0418		21,100,589	4.65	1.35	to	2.25	12.02	to	11.01
2016	1,425,955		14.0135	to	12.6495		19,285,931	2.56	1.35	to	2.25	11.41	to	10.39
2015	1,618,473		12.5788	to	11.4590		19,696,479	2.92	1.35	to	2.25	(10.22)	to	(11.04)

- 156 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
PC0
2019	1,187,243	$	13.4796	to $	11.9366	$	14,802,101	2.77%	0.65%	to	2.10%	11.02%	to	9.41%
2018	1,390,142		12.1418	to	10.9101		15,777,531	2.96	0.65	to	2.10	(6.06)	to	(7.43)
2017	1,647,311		12.9256	to	11.7862		20,084,264	4.59	0.65	to	2.10	12.64	to	11.01
2016	1,573,134		11.4748	to	10.6169		17,175,088	2.42	0.65	to	2.10	12.17	to	10.53
2015	1,909,115		10.2297	to	9.6051		18,751,715	2.84	0.65	to	2.10	(9.78)	to	(11.10)
P70
2019	52,264		5.2614	to	4.6785		255,626	4.19	0.65	to	2.05	10.63	to	9.08
2018	62,897		4.7559	to	4.2891		280,406	1.97	0.65	to	2.05	(14.76)	to	(15.96)
2017	66,417		5.5796	to	5.1038		350,533	10.69	0.65	to	2.05	1.39	to	(0.03)
2016	71,096		5.5293	to	5.1053		373,905	0.96	0.65	to	2.05	14.13	to	12.52
2015	95,997		4.8221	to	4.5374		446,503	4.02	0.65	to	2.05	(26.15)	to	(27.19)
P10
2019	4,210,677		5.8610	to	4.9443		23,012,902	4.48	0.65	to	2.35	10.71	to	8.83
2018	4,476,996		5.2941	to	4.5432		22,324,165	2.10	0.65	to	2.35	(14.69)	to	(16.15)
2017	5,309,995		6.2059	to	5.4182		31,374,446	11.24	0.65	to	2.35	1.49	to	(0.23)
2016	5,613,985		6.1148	to	5.4308		33,027,779	1.09	0.65	to	2.35	14.41	to	12.45
2015	7,094,528		5.3448	to	4.8295		36,847,209	4.54	0.65	to	2.35	(26.19)	to	(27.45)
PK8
2019	254,755		14.3682	to	29.1500		7,902,801	4.42	0.65	to	2.30	14.05	to	12.17
2018	278,892		12.5980	to	17.7675		7,700,705	4.12	0.65	to	2.55	(5.36)	to	(7.16)
2017	353,094		13.3109	to	19.1381		10,501,720	5.08	0.65	to	2.55	9.18	to	7.11
2016	419,882		12.1916	to	17.8672		11,618,444	5.26	0.65	to	2.55	12.61	to	10.45
2015	514,828		10.8266	to	16.1760		12,770,747	5.18	0.65	to	2.55	(2.88)	to	(4.74)
P20
2019	16,181		13.3032	to	12.4903		211,235	4.37	1.35	to	2.10	13.14	to	12.29
2018	36,604		11.7584	to	11.1236		422,826	4.02	1.35	to	2.10	(6.12)	to	(6.83)
2017	42,567		12.5246	to	11.9389		525,044	4.96	1.35	to	2.10	8.31	to	7.49
2016	32,472		11.5638	to	11.1066		370,047	5.17	1.35	to	2.10	11.70	to	10.85
2015	35,308		10.3522	to	10.0190		361,335	5.19	1.35	to	2.10	(3.66)	to	(4.40)
PD6
2019	28,128,118		12.8916	to	12.6752		381,865,764	2.05	0.65	to	2.25	16.20	to	14.35
2018	32,259,391		11.0943	to	11.0850		380,593,252	1.59	0.65	to	2.25	(6.23)	to	(7.73)
2017	37,702,836		11.8310	to	12.0142		479,172,954	2.10	0.65	to	2.25	13.26	to	11.45
2016	43,988,744		10.4463	to	10.7801		498,296,480	2.31	0.65	to	2.25	3.24	to	1.58
2015	49,587,168		10.1180	to	10.6122		549,137,374	1.58	0.65	to	2.25	(0.91)	to	(2.50)
P06
2019	2,006,490		14.6435	to	14.5293		32,390,144	1.66	1.30	to	2.30	7.04	to	5.97
2018	2,212,668		13.6804	to	13.7114		33,513,529	2.50	1.30	to	2.30	(3.48)	to	(4.45)
2017	2,714,427		14.1736	to	14.3506		42,776,207	2.37	1.30	to	2.30	2.32	to	1.29
2016	2,992,479		13.8527	to	14.0798		46,282,276	2.24	1.30	to	2.30	3.83	to	2.78
2015	3,448,066		13.3416	to	13.6990		51,516,094	3.70	1.30	to	2.30	(3.97)	to	(4.94)
P07
2019	7,707,882		16.9212	to	14.4783		133,331,271	3.01	1.30	to	2.35	6.97	to	5.84
2018	8,590,870		15.8193	to	13.2477		139,502,056	2.53	1.30	to	2.55	(1.83)	to	(3.06)
2017	10,466,926		16.1136	to	13.6664		173,975,506	2.02	1.30	to	2.55	3.56	to	2.26
2016	11,732,629		15.5594	to	13.3638		189,260,806	2.06	1.30	to	2.55	1.35	to	0.06
2015	12,782,699		15.3525	to	13.3552		204,323,414	4.63	1.30	to	2.55	(0.86)	to	(2.11)
P68
2019	1,895		10.7788				20,424	2.82	1.20				6.97

- 157 -

DELAWARE LIFE VARIABLE ACCOUNT F - REGATTA (A Separate Account of Delaware Life Insurance Company)

10. FINANCIAL HIGHLIGHTS (CONTINUED)
			At December 31,						For the years ended December 31,
								Investment
							Net	Income	Expense Ratio
	Units		Unit Value4				Assets	Ratio1	lowest to highest2			Total Return3
PI3
2019	1,404,143	$	11.2727	to $	9.9824	$	14,604,913	-%	0.65%	to	2.10%	5.23%	to	3.70%
2018	1,520,792		10.7129	to	9.6262		15,177,351	0.40	0.65	to	2.10	(8.44)	to	(9.77)
2017	1,875,956		11.7004	to	10.6690		20,655,019	-	0.65	to	2.10	6.29	to	4.75
2016	2,003,188		10.6047	to	10.1855		20,961,119	3.83	1.35	to	2.10	(0.66)	to	(1.42)
2015	2,146,145		10.6752	to	10.3318		22,655,392	0.09	1.35	to	2.10	(1.88)	to	(2.63)
P72
2019	532,161		28.3544	to	24.7945		13,842,390	2.04	0.65	to	2.25	29.56	to	27.49
2018	593,554		21.8856	to	19.0187		12,064,141	0.71	0.65	to	2.55	(9.09)	to	(10.82)
2017	645,430		24.0728	to	21.3263		14,599,911	1.74	0.65	to	2.55	18.00	to	15.77
2016	734,547		20.4002	to	18.4216		14,212,210	1.82	0.65	to	2.55	12.90	to	10.75
2015	915,560		17.5294	to	16.6341		15,831,203	1.42	1.35	to	2.55	(4.35)	to	(5.52)
P95
2019	664		11.0626				7,351	-	1.20			10.55
P79
2019	1,490		11.3433				16,907	-	1.20			31.64
W41
2019	9,137		29.5462	to	26.5978		257,366	0.07	1.35	to	2.05	27.56	to	26.66
2018	10,657		23.1626	to	20.9987		236,808	0.16	1.35	to	2.05	(13.60)	to	(14.21)
2017	11,753		26.8083	to	24.4767		303,816	0.16	1.35	to	2.05	24.97	to	24.09
2016	15,020		21.4519	to	19.7246		310,731	0.16	1.35	to	2.05	11.83	to	11.04
2015	17,210		19.1829	to	17.7642		319,237	0.01	1.35	to	2.05	(1.10)	to	(1.81)
W42
2019	1,276		29.8943	to	28.1496		37,721	0.26	1.65	to	2.05	28.95	to	28.43
2018	1,368		23.1836	to	21.9184		31,384	0.07	1.65	to	2.05	(3.09)	to	(3.48)
2017	2,234		23.9234	to	22.7093		52,910	-	1.65	to	2.05	17.62	to	17.15
2016	2,292		20.3397	to	15.6813		46,189	-	1.65	to	2.05	11.81	to	11.36
2015	4,229		18.1909	to	17.4081		75,099	-	1.65	to	2.05	(2.25)	to	(2.65)
W4610
2016	-		11.5298	to	10.4698		-	0.48	0.65	to	2.55	2.57	to	1.93
2015	3,851,623		11.2410	to	10.2720		41,497,667	1.24	0.65	to	2.55	(0.52)	to	(2.42)

1Represents the dividends, excluding distributions of capital gains, received by the Sub-Account from the underlying mutual fund, net of management fees assessed by the fund manager, divided by the average net assets. The ratio excludes those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. The recognition of investment income by the Sub-Account is affected by the timing of the declaration of dividends by the underlying fund in which the Sub-Accounts invest.

2Ratio represents the annualized contract expenses of the Sub-Account, consisting primarily of mortality and expense charges and distribution charges. The ratio includes only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying fund are excluded.

3Ratio represents the total return for the year indicated, including changes in the value of the underlying fund. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in reduction in the total return presented. The total return is calculated for each period indicated or from the effective date through the end of the reporting period using the unit value of the beginning period that corresponds to the lowest or highest ending period unit value disclosed. The total returns are presented as a range of maximum to minimum values based on the product grouping representing the corresponding lowest to highest expense ratio amounts.

4The unit values are not a direct calculation of net assets over the number of units allocated to the Sub-Account. The unit values are presented as a range of maximum to minimum values based on the product grouping representing the corresponding lowest to highest expense ratio amounts. Some unit values may be outside of the range due to timing of the related Sub-Account level's commencement date. Unit values of product pricing levels with zero units during the period are excluded when determining the range.

5Columbia Variable Portfolio - International Opportunities Fund - Class 2 Sub-Account (C65) merged into fund C58 on April 29, 2016.

6Columbia Variable Portfolio - Large Cap Growth Fund II Class 1 Sub-Account (C61) merged into fund C59 on April 29, 2016.

7Columbia Variable Portfolio - Large Cap Growth Fund II - Class 2 Sub-Account (C62) merged into fund C60 on April 29, 2016.

8Columbia Variable Portfolio- Loomis Sayles Growth Fund II Class 2 Sub-Account (C64) merged into fund C90 on April 29, 2016.

9Huntington VA International Equity Sub-Account (H27) merged into fund MD9 on March 6, 2015.

10Wells Fargo VT Total Return Bond Fund Class 2 Sub-Account (W46) merged into fund MD9 on April 29, 2016.

- 158 -

Delaware Life Insurance Company

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

Report of Independent Auditors

Statutory Financial Statements as of

December 31, 2019 and 2018 and for the Years

Ended December 31, 2019, 2018 and 2017

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

____________________________________________________________________________

TABLE OF CONTENTS

	Page
REPORT OF INDEPENDENT AUDITORS	1
Statutory Statements of Admitted Assets, Liabilities and Capital Stock and Surplus	3
Statutory Statements of Operations	5
Statutory Statements of Changes in Capital Stock and Surplus	6
Statutory Statements of Cash Flows	7
Notes to the Statutory Financial Statements	9

Report of Independent Auditors

To the Board of Directors of

Delaware Life Insurance Company

We have audited the accompanying statutory financial statements of Delaware Life Insurance Company, which comprise the statutory statements of admitted assets, liabilities and capital stock and surplus as of December 31, 2019 and 2018, and the related statutory statements of operations and changes in capital stock and surplus, and of cash flows for the years ended December 31, 2019, 2018 and 2017.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with the accounting practices prescribed or permitted by the Delaware Department of Insurance. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on the financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles

As described in Note 1 to the financial statements, the financial statements are prepared by the Company on the basis of the accounting practices prescribed or permitted by the Delaware Department of Insurance, which is a basis of accounting other than accounting principles generally accepted in the United States of America.

The effects on the financial statements of the variances between the statutory basis of accounting described in Note 1 and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material.

PricewaterhouseCoopers LLP, 185 Asylum Street, Suite 2400, Hartford, CT 06103-3404

T: (860) 241 7000, F: (860) 241 7590, www.pwc.com/us

1

Adverse Opinion on U.S. Generally Accepted Accounting Principles

In our opinion, because of the significance of the matter discussed in the "Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles" paragraph, the financial statements referred to above do not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position of the Company as of December 31, 2019 and 2018, or the results of its operations or its cash flows for the years ended December 31, 2019, 2018 and 2017.

Opinion on Statutory Basis of Accounting

In our opinion, the financial statements referred to above present fairly, in all material respects, the admitted assets, liabilities and surplus of the Company as of December 31, 2019 and 2018, and the results of its operations and its cash flows for the years ended December 31, 2019, 2018 and 2017, in accordance with the accounting practices prescribed or permitted by the Delaware Department of Insurance described in Note 1.

/s/ PricewaterhouseCoopers LLP Hartford, Connecticut

April 27, 2020

2

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

STATUTORY STATEMENTS OF ADMITTED ASSETS, LIABILITIES AND CAPITAL STOCK AND SURPLUS AS OF DECEMBER 31, 2019 AND 2018 (IN THOUSANDS EXCEPT SHARE AND PER SHARE DATA)

______________________________________________________________________________________________________

ADMITTED ASSETS		2019		2018
GENERAL ACCOUNT ASSETS
Bonds	$	10,918,153	$	10,497,705
Preferred stocks		769,767		566,677
Common stocks		779,463		592,218
Mortgage loans on real estate		606,383		544,207
Cash, cash equivalents and short-term investments		1,480,742		982,422
Contract loans		400,939		405,685
Derivatives		335,701		250,525
Other invested assets		878,847		451,955
Mortgage escrow funds		2,827		3,430
Receivables for securities		36,500		4,970
Investment income due and accrued		153,301		105,522
Amounts recoverable from reinsurers		9,549		17,199
Other amounts receivable under reinsurance contracts		4,049		5,435
Current federal and foreign income tax recoverable		49,947		23,865
Net deferred tax asset		79,469		83,265
Electronic data processing equipment and software		469		837
Receivables from parent, subsidiaries and affiliates		103,360		12,864
Reinsurance deposit asset		371,013		1,051,960
Other assets		17,793		73,989
Total general account assets		16,998,272		15,674,730
SEPARATE ACCOUNT ASSETS		20,832,308		21,177,841
TOTAL ADMITTED ASSETS	$	37,830,580	$	36,852,571
See notes to the statutory financial statements.

3

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

STATUTORY STATEMENTS OF ADMITTED ASSETS, LIABILITIES AND CAPITAL STOCK AND SURPLUS AS OF DECEMBER 31, 2019 AND 2018 (IN THOUSANDS EXCEPT SHARE AND PER SHARE DATA)

______________________________________________________________________________________________________

LIABILITIES, CAPITAL STOCK AND SURPLUS		2019		2018
GENERAL ACCOUNT LIABILITIES
Aggregate reserve for life contracts	$	13,486,913	$	12,168,958
Aggregate reserve for accident and health contracts		679		—
Liability for deposit-type contracts		671,845		475,872
Contract claims		33,937		31,574
Other amounts payable on reinsurance		16,698		13,315
Interest maintenance reserve		39,563		14,497
Commissions to agents due or accrued		20,383		15,770
General expenses due or accrued		18,677		61,193
Transfers from Separate Accounts due or accrued (net)		(233,009)		(252,664)
Remittances and items not allocated		17,405		38,084
Asset valuation reserve		250,890		71,674
Payable for securities		191,881		65,607
Payable to parent and affiliates		15,095		—
Reinsurance in unauthorized and certified companies		585		—
Funds held under reinsurance treaties with unauthorized and certified reinsurers		245,590		246,959
Funds held under coinsurance		371,889		1,052,175
Derivatives		117,942		77,319
Other liabilities		147,998		39,114
Total general account liabilities		15,414,961		14,119,447
SEPARATE ACCOUNT LIABILITIES		20,832,306		21,177,839
Total liabilities		36,247,267		35,297,286
CAPITAL STOCK AND SURPLUS
Common capital stock, $1,000 par value – 10,000 shares
authorized; 6,437 shares issued and outstanding		6,437		6,437
Surplus notes		565,000		565,000
Gross paid in and contributed surplus		770,439		653,698
Unassigned funds		241,437		330,150
Total surplus		1,576,876		1,548,848
Total capital stock and surplus		1,583,313		1,555,285
TOTAL LIABILITIES, CAPITAL STOCK AND SURPLUS	$	37,830,580	$	36,852,571
See notes to the statutory financial statements.

4

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

STATUTORY STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017 (IN THOUSANDS)

		2019		2018		2017
INCOME:
Premiums and annuity considerations	$	2,412,284	$	(10,314,071)	$	2,033,394
Considerations for supplementary contracts with life contingencies		42,186		41,368		31,253
Net investment income		426,912		719,167		204,701
Amortization of interest maintenance reserve		9,296		12,414		20,548
Commissions and expense allowances on reinsurance ceded		113,811		243,365		2,288
Reserve adjustments on reinsurance ceded		(1,652,188)		10,705,103		—
Income from fees associated with investment management,
administration and contract guarantees from Separate Accounts		346,576		375,076		421,373
Change in cash value of company owned life insurance		—		3,513		6,877
Investment (loss) income on reinsurance deposit asset		(116,980)		19,592		(262,531)
Reinsurance experience refund		120,973		129,967		—
Other income		54,015		57,899		65,750
Total Income		1,756,885		1,993,393		2,523,653
BENEFITS AND EXPENSES:
Death benefits		97,356		123,612		132,771
Annuity benefits		315,500		267,802		588,661
Health benefits		666		—		—
Surrender benefits and withdrawals for life contracts		1,275,361		1,009,649		2,206,148
Interest and adjustments on contract or deposit-type contract funds		8,163		22,140		23,571
Payments on supplementary contracts with life contingencies		44,396		41,136		36,609
Increase in aggregate reserves for life and accident and health contracts		1,318,634		2,081,112		1,277,372
Total Benefits		3,060,076		3,545,451		4,265,132
Commissions on premiums, annuity considerations and deposit-type
contract funds (direct business only)		186,775		152,103		133,038
Commissions and expense allowances on reinsurance assumed		119		123		112
General insurance expenses		223,389		219,357		236,239
Insurance taxes, licenses and fees, excluding federal income taxes		5,466		5,103		3,737
Net transfers from Separate Accounts net of reinsurance		(1,613,693)		(2,270,518)		(2,020,178)
Investment (income) expense on funds held		(349,816)		135,750		(288,371)
Other (benefits) deductions		(25)		222		2,021
Total Benefits and Expenses		1,512,291		1,787,591		2,331,730
Net income from operations before federal income tax benefit
and net realized capital gains (losses)		244,594		205,802		191,923
Federal income tax benefit, excluding tax on capital gains (losses)		(21,279)		(3,553)		(65,461)
Net income from operations after federal income taxes
and before net realized capital gains		265,873		209,355		257,384
Net realized capital gains (losses) less capital gains tax and transfers to
the interest maintenance reserve		4,540		(10,566)		24,045
NET INCOME	$	270,413	$	198,789	$	281,429
See notes to statutory financial statements.

5

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

STATUTORY STATEMENTS OF CHANGES IN CAPITAL STOCK AND SURPLUS

FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017 (IN THOUSANDS)

		2019		2018		2017
CAPITAL STOCK AND SURPLUS, BEGINNING OF YEAR	$	1,555,285	$	1,463,390	$	1,635,897
Net income		270,413		198,789		281,429
Change in net unrealized capital gains (losses), net of deferred income tax		345,580		(105,877)		(95,725)
Change in net unrealized foreign exchange capital gains (losses)		10,982		(3,123)		(15,426)
Change in net deferred income tax		(56,342)		27,017		(89,076)
Change in nonadmitted assets		(37,743)		(16,961)		(3,784)
Change in liability for reinsurance in unauthorized and certified companies		(585)		—		—
Change in asset valuation reserve		(179,216)		22,080		22,072
Surplus paid in		116,741		—		—
Dividends to stockholder		(200,000)		(157,384)		(235,358)
Investment (expense) income on funds held - unrealized		(241,802)		127,354		(36,639)
CAPITAL STOCK AND SURPLUS, END OF YEAR	$	1,583,313	$	1,555,285	$	1,463,390
See notes to statutory financial statements.

6

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

STATUTORY STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017 (IN THOUSANDS)

		2019		2018		2017
CASH FROM OPERATIONS:
Premiums collected net of reinsurance	$	2,610,423	$	2,735,182	$	2,064,646
Net investment income		745,774		593,150		522,677
Miscellaneous income		402,030		433,475		489,411
Total receipts		3,758,227		3,761,807		3,076,734
Benefits and loss related payments		(3,301,972)		(3,146,388)		(2,997,833)
Net transfers from Separate Accounts		1,570,877		2,083,619		2,221,156
Commissions, expenses paid and aggregate write-ins for deductions		(462,727)		(377,617)		(387,448)
Federal and foreign income taxes recovered (paid)		(15,165)		33,867		11,280
Total payments		(2,208,987)		(1,406,519)		(1,152,845)
Net cash from operations		1,549,240		2,355,288		1,923,889
CASH FROM INVESTMENTS:
Proceeds from investments sold, matured, repaid or received
Bonds		6,370,188		3,963,764		7,792,594
Stocks		84,610		151,520		46,290
Mortgage loans		244,684		80,758		114,292
Other Invested Assets		78,173		60,752		3,587
Net gains or (losses) on cash, cash equivalents and short-term		—		1,079		(1,388)
investments
Miscellaneous proceeds		94,743		51,913		—
Total investment proceeds		6,872,398		4,309,786		7,955,375
Cost of investments acquired (long-term only):
Bonds		(6,726,353)		(6,155,024)		(8,581,956)
Stocks		(460,624)		(349,366)		(208,860)
Mortgage loans		(247,625)		(131,649)		(229,405)
Other Invested Assets		(287,682)		(10,965)		(113,041)
Miscellaneous applications		(258,454)		(36,335)		(522,792)
Total investments acquired		(7,980,738)		(6,683,339)		(9,656,054)
Net decrease (increase) in contract loans and premium notes		4,652		23,436		23,591
Net cash from investments		(1,103,688)		(2,350,117)		(1,677,088)
CASH FROM FINANCING AND MISCELLANEOUS SOURCES:
Net deposits on deposit-type contracts and other liabilities		195,974		11,471		(2,899)
Dividends to stockholders		(200,000)		(157,384)		(235,358)
Other cash (used) provided		56,794		17,133		14,763
Net cash from financing and miscellaneous sources		52,768		(128,780)		(223,494)
Net change in cash, cash equivalents and short-term investments		498,320		(123,609)		23,307
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS:
Beginning of year		982,422		1,106,031		1,082,724
End of year	$	1,480,742	$	982,422	$	1,106,031

7

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

STATUTORY STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017 (IN THOUSANDS)

SUPPLEMENTAL SCHEDULE OF NON-CASH ACTIVITIES
		2019		2018		2017
Exchanges of bonds	$	346,653	$	342,445	$	191,862
Exchanges of stocks		20,000		—		—
Capital Contribution - interest in limited partnership		16,741		—		—
Transfer of other invested assets to bonds		—		—		134,445
Transfer of other invested assets to common stock		—		—		40
Modified coinsurance reserve adjustment - net (including premium,		1,652,188		10,705,103		—
miscellaneous income and benefits)
Exchange of PPVUL policies for funding agreements		—		255,773		—
Transfer of other invested assets to preferred stocks		—		255,000		—
Transfer of bonds to preferred stocks		—		14,344		—
Transfer preferred stocks to bonds		—		18,620		—
Exchange of policy loans for bonds		—		166,220		—
Transfer of non-insulated separate account bonds to general account		11,652		99,864		—
Transfer of non-insulated separate account mortgages to general account		50,819		—		—
Capital contributions of options to subsidiary		176,418		—		—
Surplus note transfer from bonds to other invested assets		6,423		—		—
DLRC dividend received - invested assets and related accrued interest		2,333		—		—
DLRC return of capital - invested assets and related accrued interest		24,618		—		—
Capital Contribution - SSAP 72		100,000		—		—

See notes to statutory financial statements.

8

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

1.DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES GENERAL

Delaware Life Insurance Company (the "Company"), is a stock life insurance company incorporated under the laws of Delaware. The Company is a direct, wholly-owned subsidiary of Group One Thousand One, LLC , (the "Parent"), a Delaware limited liability company.

The Company is authorized to transact business in 49 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. While the Company is not authorized to transact business in the State of New York, its wholly- owned subsidiary, Delaware Life Insurance Company of New York ("DLNY"), is authorized to transact business in New York as well as Rhode Island. The business of the Company and its subsidiaries includes the issuance, administration and servicing of a variety of wealth accumulation products, protection products, and institutional investment contracts. These products include individual and group fixed and variable annuities, individual and group variable life insurance, individual universal life insurance, funding agreements, and group life and disability insurance.

In the normal course of business, the Company and DLNY reinsure portions of their individual life insurance, annuity, and group insurance exposure with both affiliated and unaffiliated companies using indemnity reinsurance agreements.

BASIS OF PRESENTATION - ACCOUNTING PRACTICES

The accompanying financial statements of the Company are presented on the basis of accounting principles prescribed or permitted by the Delaware Department of Insurance (the "Department"). The Department recognizes only statutory accounting practices prescribed or permitted by the State of Delaware for determining and reporting the financial condition and results of operations of an insurance company and for determining its solvency under Delaware's insurance laws. The National Association of Insurance Commissioners' ("NAIC") Accounting Practices and Procedures Manual ("NAIC SAP") has been adopted as a component of prescribed or permitted accounting principles by the State of Delaware.

There was no difference in the Company's net income (loss) or capital stock and surplus between NAIC SAP and practices prescribed and permitted by the State of Delaware as of December 31, 2019 and 2018 and for the years ended December 31, 2019, 2018 and 2017.

Accounting principles and procedures of the NAIC as prescribed or permitted by the Department comprise a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America ("GAAP"). The more significant differences affecting the Company are as follows:

Under statutory accounting principles, financial statements are not consolidated. Investments in domestic life insurance subsidiaries, as defined by Statement of Statutory Accounting Principles ("SSAP") No. 97, Investments in Subsidiary, Controlled and Affiliated Entities, are carried at their audited net statutory equity value adjusted for any unamortized goodwill as provided for in SSAP No. 68, Business Combinations and Goodwill. The changes in value are recorded directly to surplus. Non-public, non-insurance subsidiaries, including limited liability companies ("LLCs") and controlled partnerships, are carried at their audited GAAP equity value. Dividends paid by subsidiaries to the Company are included in the Company's net investment income. Goodwill includes direct costs of the acquisition that are expensed under GAAP. Admissibility of goodwill is subject to certain limitations, and is amortized to unrealized gains and losses. Amortization of goodwill is elective for private companies under GAAP, and is amortized to expense.

Statutory accounting principles do not recognize the following assets or liabilities, which are recognized under GAAP: deferred policy acquisition costs and unearned premium reserves. Deferred policy acquisition costs create a temporary tax difference as disclosed in Note 15. An asset valuation reserve ("AVR") and interest maintenance

9

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

reserve ("IMR") are established under statutory accounting principles but not under GAAP. Methods for calculating real estate investment valuation allowances differ under statutory accounting principles and GAAP. Methods for calculating investment valuation allowances differ under statutory accounting principles and GAAP. Actuarial assumptions and reserving methods differ under statutory accounting principles and GAAP. There are certain limitations on the admissibility of net deferred tax assets ("DTAs") under statutory accounting principles. Certain contracts with a market value adjustment ("MVA") feature are classified within the Company's General Account under GAAP, but are classified within the Company's non-insulated Separate Accounts under statutory accounting principles.

Under GAAP, investments in fixed maturity securities classified as available-for-sale or trading are carried at their aggregate fair value. Changes in unrealized gains and losses are reported net of taxes in a separate component of stockholder's equity for available-for-sale securities and changes in unrealized gains and losses on trading securities are recorded in net investment income. Fixed maturity securities are generally carried at amortized cost under statutory accounting principles.

The majority of derivatives are carried at fair value on both a GAAP and statutory accounting basis. Unrealized gains and losses on derivatives are recognized in income for GAAP purposes and are recognized in surplus on a statutory basis. The Company designates derivatives as hedges on a limited basis which results in unrealized gains and losses on those derivatives being recognized in income.

Life premiums are recognized as income over the premium paying period of the related policies. Annuity considerations are recognized as revenue when received. Health insurance premiums are recognized when written. Expenses incurred in connection with acquiring new insurance business, including acquisition costs such as sales commissions, are charged to operations as incurred.

The reserves for life insurance, accident and health, and annuity contracts are computed in accordance with presently accepted actuarial standards, and are based on actuarial assumptions and methods (including use of published mortality tables and prescribed interest rates) which produce reserves at least as great as those required by law and/or contract provisions.

USE OF ESTIMATES

The preparation of financial statements in conformity with statutory accounting principles prescribed or permitted by the State of Delaware requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities. It also requires disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. The most significant estimates are those used in determining the fair value of financial instruments, allowance for loan losses, aggregate reserves for life policies and annuity contracts, deferred income taxes, provision for income taxes, and other-than-temporary-impairments ("OTTI") of investments.

GOING CONCERN

There are no conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern.

SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies followed by the Company in preparing the accompanying statutory-basis financial statements:

FINANCIAL INSTRUMENTS

In the normal course of business, the Company enters into transactions involving various types of financial instruments, including cash equivalents, short-term investments, debt and equity securities, mortgage loans, and

10

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

derivatives. These instruments involve credit risk and also may be subject to risk of loss due to interest rate fluctuation. The Company evaluates and monitors each financial instrument individually and, when appropriate, obtains collateral or other security to minimize potential losses.

CASH, CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS

Cash, cash equivalents, and short-term investments are liquid assets. The Company's cash equivalents primarily include commercial paper and money market instruments, which have an original term to maturity of less than three months. The carrying value for cash, cash equivalents, and short-term investments is stated at amortized cost, which approximates fair value. Short-term investments, with the exception of money market instruments which are carried at fair value per SSAP No. 2R, Cash, Cash Equivalents, Drafts and Short Term Investments, include bonds with a term to maturity exceeding three months, but less than one year on the date of acquisition.

INVESTMENTS

Bonds

Investments in bonds, mortgage-backed securities ("MBS"), and asset-backed securities ("ABS") are stated at amortized cost using the scientific method. Where the NAIC designation of the bond has fallen to 6 and the fair value has fallen below amortized cost, they are stated at fair value. Adjustments to the value of MBS and ABS securities based on changes in cash flows, including those related to changes in prepayment assumptions, are made retrospectively. As part of this process, the NAIC appointed a third-party vendor for each security type to develop a revised NAIC designation methodology. The ratings for residential mortgage-backed securities ("RMBS") and commercial mortgage-backed securities ("CMBS") are determined by comparing the insurer's carrying value divided by the remaining par value to price ranges provided by the third-party vendor corresponding to each NAIC designation. Comparisons are initially made to the model based on amortized cost. Where the resulting designation is NAIC 6 per the model, further comparison based on fair value is required, which in some cases, results in a higher final NAIC designation.

The definition of structured securities under SSAP No. 43R, Loan Backed and Structured Securities - Revised, includes certain types of ABS and MBS securities that do not follow the revised rating methodology described above, including, but not limited to, equipment trust certificates, credit tenant loans, 5*/6* securities, interest-only securities, and those with Securities Valuation Office ("SVO") assigned NAIC designations. Interest income on bonds, MBS and ABS is recognized when earned based upon estimated principal repayments, if applicable. For bonds subject to prepayment risk, yields are recalculated and asset balances adjusted periodically so that expected return on future cash flows matches the expected return over the life of the investment from acquisition. If the collection of all contractual cash flows is not probable, an OTTI may be indicated. The process of analyzing securities for an OTTI adjustment is further described in Note 3.

Bonds not backed by other loans are stated at amortized cost, net of OTTI, using the scientific method.

Preferred Stocks, Common Stocks, and Other Invested Assets

Preferred stocks with an NAIC designation of 1 through 3 are stated at amortized cost. Those with NAIC designations of 4 through 6 are stated at the lower of amortized cost or fair value. Common stocks are stated at fair value, except for investments in subsidiaries. The latter are carried based on the underlying statutory equity of the subsidiary for insurance subsidiaries and GAAP equity for non-insurance subsidiaries including LLCs. The Company accounts for its investments in subsidiaries in accordance with SSAP No. 97. The Company has ownership interests in joint ventures and partnerships which are carried at values based on the underlying equity of the investee in accordance with SSAP No. 48, Joint Ventures, Partnerships and Limited Liability Companies, and SSAP No. 93, Low Income Housing Tax Credit Property Investments. Audited financial statements for these investments are received on an annual basis. OTTI on stocks is evaluated under the methodology described in Note 3.

11

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Mortgage Loans on Real Estate

Mortgage loans are stated at unpaid principal balances, net of provisions for estimated losses. Mortgage loans acquired at a premium or discount are carried at amortized cost using the effective interest rate method, net of provisions for estimated losses. Purchases and sales of mortgage loans are recognized or derecognized in the Company's Statements of Admitted Assets, Liabilities and Capital Stock and Surplus on the loan's trade date, which is the date that the Company funds the purchase or receives the proceeds from the sale. Transaction costs on mortgage loans are capitalized on initial recognition and are recognized in the Company's Statements of Operations using the effective interest rate method. Mortgage loans, which primarily include commercial first mortgages, are diversified by property type and geographic area throughout the United States. Mortgage loans are collateralized by the related properties and generally are no more than 75% of the property's fair value at the time that the original loan was made. The Company regularly assesses the fair value of the collateral.

A mortgage loan is considered impaired when it is probable that the principal or interest is not collectible in accordance with the contractual terms of the loan. When a mortgage loan is classified as impaired, allowances for credit losses are established to adjust the carrying value of the loan to its net recoverable amount.

A specific allowance for loan loss is established for an impaired loan if the present value of expected cash flows discounted at the loan's effective interest rate, or the fair value of the collateral less cost to sell, is less than the recorded amount of the loan. The full extent of impairment in the mortgage portfolio cannot be assessed solely by reviewing loans individually. A general allowance for loan loss is established based on an assessment of past loss experience on groups of loans with similar characteristics and current economic conditions. While management believes that it uses the best information available to establish loan loss allowances, future adjustments may become necessary if economic conditions differ from the assumptions used in calculating them.

Interest income is recognized on mortgage loans when the collection of contractually specified future cash flows is probable, in which case cash receipts are recorded in accordance with the effective interest rate method. Interest income is not recognized on impaired mortgage loans and these mortgage loans are placed in a non-accrual status when the collection of contractually specified future cash flows is not probable, in which case cash receipts are applied in the following order: first against the carrying value of the loan, then against the provision, and then to income. The accrual of interest resumes when the collection of contractually specified future cash flows becomes probable based on certain facts and circumstances.

Changes in allowances for losses are recorded as changes in unrealized gains and losses to surplus. Once the conditions causing impairment improve and future payments are reasonably assured, the mortgages are no longer classified as impaired and the Company resumes accrual of income. However, if the original terms of the contract have been changed resulting in the Company providing an economic concession to the borrower at below market rates, then the mortgage is reclassified as restructured. If the conditions causing impairment do not improve and future payments remain unassured, the Company typically derecognizes the asset through disposition or foreclosure. Uncollectible collateral-dependent loans are written off through realized losses for any difference between the carrying value and amount received for the underlying property at the time of disposition or foreclosure.

Contract Loans

Contract loans are carried at the amount of outstanding principal balance. Contract loans are collateralized by the related insurance policy and do not exceed the net cash surrender value of such policy.

Other Invested Assets

Other invested assets (excluding investments accounted for under the equity method) include surplus debentures. Third-party pricing services are used to determine the fair value of surplus debentures.

12

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Asset Valuation Reserve and Interest Maintenance Reserve

The AVR is established as a liability based upon a formula prescribed by the NAIC to offset potential credit-related investment losses on all invested assets, with changes in the AVR charged or credited directly to surplus. The IMR is established as a liability to capture realized gains and losses, net of income tax, on the sale of fixed income investments, principally bonds, mortgage loans, and derivatives, resulting from changes in the general level of interest rates, and is amortized into income over the remaining years to expected maturity of the assets sold.

Derivatives

As part of the Company's overall risk management strategy, the Company uses over-the-counter ("OTC") and listed options, exchange-traded futures, currency forwards, currency swaps, interest rate swaps and swaptions. Derivatives are accounted for in accordance with SSAP No. 86, Derivatives.

Interest rate swaps are employed for duration matching purposes, in replication transactions, and to hedge the guaranteed minimum living benefit offered in some of the Company's variable annuity policies. Interest rate swaps are reported at fair value except those used in replication transactions which are reported at amortized cost. Changes in fair value are recorded as unrealized gains/losses within surplus.

The Company utilizes listed put and call options and exchange-traded futures on the Standard & Poor's 500 Composite Stock Price Index (the "S&P 500 Index") and other indices to hedge against stock market exposure inherent in the mortality and expense risk charges and guaranteed minimum death and living benefit features of the Company's variable annuities. These options are reported at fair value. Changes in fair value for options are recorded in unrealized gains/losses within surplus. The daily cash variation margin settlements for futures are recorded as a component of net investment income.

The Company also purchases OTC and listed call options and exchange-traded futures on the S&P 500 Index and other indices to economically hedge its obligations under certain fixed index annuity ("FIA") contracts. The interest credited on these products is based on the changes in the indices. These instruments are purchased directly or through its wholly owned investment subsidiary, DL Investment Holdings 2016-1, LLC ("DLIH 2016"). Options purchased and held by the Company are reported at fair value with changes in fair value recorded in unrealized gains/losses within surplus. The daily cash variation margin settlements for futures are recorded as a component of net investment income. Income distributions from DLIH 2016 are reported as a component of net investment income.

The Company uses currency swaps and currency forwards to hedge against the risk of fluctuations in foreign currency exchange rates. Currency swaps and currency forwards are reported at fair value. Changes in fair value are recorded as unrealized gains/losses within surplus.

Swaptions are utilized by the Company to hedge exposure to interest rate risk. At the trade date of a swaption, a premium is paid to the counterparty and recorded as an asset. At expiration, swaptions either cash settle for value, settle into an interest rate swap, or expire worthless. Swaptions are reported at fair value and changes in fair value are recorded in unrealized gains/losses within surplus.

Pharmaceutical rebate receivables

Receivables for pharmacy rebates are estimated from information provided by the Company's pharmacy benefit manager based on factors including utilization of drugs subject to rebate and contractual provisions with the pharmacy benefit manager. Any variance between actual rebate receipts and estimated amounts is recognized in the period that the Company becomes aware of the difference. Pharmacy rebates receivables are recorded as nonadmitted assets if they do not meet admissibility requirements.

13

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

POLICY AND CONTRACT RESERVES

The reserves for life insurance policies and annuity contracts are computed in accordance with presently accepted actuarial standards, and are based on actuarial assumptions and methods (including use of published mortality tables and prescribed interest rates) which produce reserves at least as great as those required by law and/or contract provisions.

Premium deficiency reserves for MedicareAdvantage business are recognized when it is probable that the expected future benefit expenses, claim adjustment expenses, direct administration costs and indirect administration costs under a group of contracts will exceed anticipated future premiums over the remaining lives of the contracts and are recorded as aggregate health policy reserves. Indirect administration costs are considered in the development of the premium deficiency reserves. The methods for making such estimates and establishing such reserves are periodically reviewed and updated, and any adjustments are reflected as an increase or decrease in the reserves in the period in which the change in estimate is identified. Investment income is not considered in the calculation of the premium deficiency reserve.

Liabilities for unpaid claims consist of the estimated amount payable for claims reported but not yet settled and an estimate of claims incurred but not reported. These liabilities include estimates of the expenses that will be incurred in connection with the payment of benefits. The amounts reported are based upon historical experience, adjusted for trends and current circumstances. Management believes that the recorded liability is sufficient to provide for the associated claims adjustment expenses. Revisions of these estimates are included in operations in the year such adjustments are determined to be required.

Unpaid losses and claims adjustment expenses for health insurance contracts include an amount determined from individual case estimates and loss reports, if necessary. An amount based on past experience and current payment trends is estimated for losses incurred but not reported. Such liabilities are necessarily based on assumptions and estimates and, while management believes the amount is adequate, the ultimate liability may be in excess of or less than the amount provided. The methods for making such estimates and for establishing the resulting liabilities are continually reviewed and any adjustments are reflected in the period determined.

DEPOSIT-TYPE CONTRACTS

Liabilities for funding agreements, investment-type contracts such as supplementary contracts not involving life contingencies, and certain structured settlement annuities are based on account value or accepted actuarial standards and methods including use of prescribed interest rates.

INCOME TAXES

The Company accounts for current and deferred income taxes and recognizes reserves for income tax contingencies in accordance with SSAP No. 101, Income Taxes. Under the applicable asset and liability method for recording deferred income taxes, deferred taxes are recognized when assets and liabilities have different values for financial statement and tax reporting purposes, using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and deferred tax liabilities ("DTLs") is recognized in the period that includes the enactment date. Valuation allowances on DTAs are estimated based on the Company's assessment of the realization of such DTAs. Refer to Note 15 for further discussion of the Company's income taxes.

14

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

INCOME AND EXPENSES

Life insurance premiums are recognized as income over the premium paying period of the related policies. Annuity considerations are recognized as revenue when received. Beginning in 2019, the Company entered into contracts with the Centers for Medicare and Medicaid Services ("CMS") to provide Medicare Advantage products resulting in approximately $0.5 million of premium written in 2019. Health insurance premiums are recognized when written. Expenses, such as commissions and other costs applicable to the acquisition of new business, are charged to operations as incurred.

SEPARATE ACCOUNTS

The Company has established insulated Separate Accounts applicable to various classes of contracts providing for variable benefits. Contracts for which funds are invested in insulated variable Separate Accounts include individual and group life and annuity contracts. The assets in these insulated separate accounts are carried at fair value and the investment risk associated with such assets is retained by the contract holder. These variable products provide minimum death benefits and, in certain annuity contracts, minimum accumulation, income, or withdrawal benefits. The minimum guaranteed benefit reserves associated with the insulated Separate Accounts are reported in Aggregate Reserves for Life Contracts in the Company's Statements of Admitted Assets, Liabilities, Capital Stock and Surplus.

The Company has also established non-insulated Separate Accounts for certain annuity contracts that include an MVA feature associated with fixed rates, including for amounts allocated to the fixed portion of certain combination fixed and variable deferred annuity contracts. Assets in the non-insulated Separate Accounts are carried at fair value or on a General Account basis, depending on the annuity contract being supported. The assets of the non- insulated Separate Accounts are not legally insulated and can be used by the Company to satisfy General Account obligations.

Net investment income, capital gains and losses, and changes in invested asset values on the insulated variable Separate Accounts are allocated to policyholders and therefore do not affect the operating results of the Company. The Company earns Separate Account fees for providing administrative services and bearing the mortality and other guaranteed benefit risks related to contracts for which funds are invested in variable Separate Accounts.

Certain activity from the variable Separate Accounts is reflected in the Company's financial statements as follows:

•The fees that the Company receives which are assessed periodically and recognized as revenue when assessed.

•The activity related to the guaranteed minimum death benefit, guaranteed minimum accumulation benefit, guaranteed minimum income benefit, and guaranteed minimum withdrawal benefit is reflected in the Company's financial statements.

•Premiums and withdrawals with offsetting transfers to/from the variable Separate Accounts are reflected in the Statements of Operations.

•Transfers from the variable Separate Accounts due and accrued, which include accrued expense allowances receivable from the variable Separate Accounts and the aggregate surplus (income) due and accrued from MVA contracts.

•The dividends-received-deduction ("DRD"), which is included in the Company's income tax expense, is calculated based upon the variable Separate Accounts' assets held in connection with variable contracts.

15

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

ACCOUNTING PRONOUNCEMENTS

New and Adopted Accounting Pronouncements

The Company did not have any new accounting pronouncement changes during 2019.

Effective January 1, 2018, the NAIC adopted changes to SSAP No. 100, Fair Value, to allow net asset value per share as a practical expedient to fair value, either when specifically named in a SSAP or when specific conditions exist. The Company elected to early adopt this guidance in its 2017 reporting. The adoption of the revisions within SSAP No. 100 did not have a significant impact on the financial statements of the Company.

Effective December 31, 2017, the NAIC adopted changes to SSAP No. 26, Bonds. The changes include removing SVO-identified instruments from the definition of a bond and providing separate statutory accounting guidance for exchange-traded bond funds ("ETFs"). The Company has elected to use a documented systematic value measurement method for ETFs. Revisions also incorporate the definition of a security within the definition of a bond, and incorporate definitions for non-bond, fixed-income instruments. The adoption of the revisions within SSAP No. 26 did not have a significant impact on the financial statements of the Company.

Effective January 1, 2017, the NAIC adopted changes to SSAP No. 35R, Guaranty Fund and Other Assessments, to require revisions to the discounting of long-term care guaranty fund assessments and related assets. The adoption of the revisions within SSAP No. 35R did not have a significant impact on the financial statements of the Company.

Effective January 1, 2017, the NAIC adopted changes to SSAP No. 41R, Surplus Notes, to provide guidance on how to determine the measurement method for surplus notes. The adoption of the revisions within SSAP No. 41R did not have a significant impact on the financial statements of the Company.

Effective January 1, 2017, the NAIC adopted changes to SSAP No. 103R, Transfers and Servicing of Financial Assets and Extinguishment Liabilities, to provide accounting and reporting guidance for short sales. The adoption of the revisions within SSAP No. 103R did not have a significant impact on the financial statements of the Company.

CORRECTIONS OF ERRORS

During 2019, the Company discovered an error related to the accounting for certain common stocks. In the prior periods impacted, net income was overstated and the change in unrealized capital gains (losses) was understated by $23.2 million. The correction of this error in the current year, net of tax, had no net impact on surplus. The Company did not have any corrections of errors during 2018.

2. RELATED-PARTY TRANSACTIONS

The Company has significant transactions with affiliates and other related parties. Intercompany revenues and expenses recognized under these agreements may not necessarily be indicative of costs that would be incurred if the Company operated on a stand-alone basis and if these transactions were with unrelated parties.

The Company paid dividends to the Parent and received capital contributions from the Parent as described further in Note 16. The Company does not own shares of an upstream intermediate entity or ultimate parent, directly or indirectly, via a downstream subsidiary, controlled, or affiliated entity.

16

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Below are details of investments in subsidiaries and significant transactions with affiliates and other related parties.

Investments in Subsidiaries - Common Stocks

(In Thousands)
			Carrying Value
Entity	Type of Subsidiary		December 31,
			2019		2018
DLNY	Insurance	$	398,539	$	366,354
Lackawanna Casualty Company	Insurance		186,890		—
DL Reinsurance Company ("DLRC")	Insurance		3,371		32,357
Delaware Life Reinsurance (U.S.) Corp.	Insurance		21,342		21,557
Clarendon Insurance Agency, Inc.	Non Insurance		1,454		1,454
Total		$	611,596	$	421,722

OnApril 1, 2019, the Company acquired Lackawanna Casualty Company "LCC", a Pennsylvania domiciled worker's compensation insurance company, and its subsidiaries, Lackawanna American Insurance Company and Lackawanna National Insurance Company for a total cost of $171.7 million. The difference between the cost and the statutory value of the group purchased was recorded as goodwill totaling $61.2 million. At December 31, 2019, the admitted amount of unamortized goodwill was $56.6 million. The Company also contributed $2.5 million of additional capital to LCC in October 2019.

The Company values Clarendon Insurance Agency, Inc. ("Clarendon") as described in paragraph 8.b.ii of SSAP No. 97. At December 31, 2019 and 2018, the admitted amount was $1,454.0 thousand. The Company's Sub-2 filing for Clarendon will be completed in accordance with SSAP No. 97.

Investments in Affiliates - Preferred Interests

In September 2018, DL Investment Holdings 2015-1, LLC ("DLIH 2015"), an affiliate and formerly a wholly-owned subsidiary, distributed $15.0 million of capital back to the Company. On December 28, 2018, DLIH 2015 amended and restated its Limited Liability CompanyAgreement to restructure its membership interests and include an affiliate of the Company, DLHP II AH, LLC ("DLHP"), as a party to the agreement. As part of the restructuring, the Company received 255,000 Series A Preferred Units (non-voting interests) with a value of $255.0 million in exchange for the equity of DLIH 2015 that was held by the Company prior to the restructuring. DLHP received 100% of the Series A Common Units (voting interests). The Company recorded an unrealized gain as a result of the restructuring equal to $98.0 million in 2018. On December 31, 2019, the Company received a $15.8 million preferred dividend from DLIH 2015.

Investments in Affiliates - Other Invested Assets

The Company owns controlling membership interests in the following limited liability companies: DL Investment DELRE Holdings 2009-1, LLC; IDF IX, LLC; IDF X, LLC; DLService Holdings, LLC; DLPrivate Placement Investment Company I, LLC; Conway Capital, LLC; Clear Spring PC Holdings, LLC ("CSPCH"), Clear Spring Health Holdings, LLC ("CSHH"), Ellendale Insurance Agency, LLC ("Ellendale"); DLIH 2016; and DL Investment Holdings 2016-2, LLC. The values of certain of these limited liability companies without audited financial statements were non- admitted as of December 31, 2019 and December 31, 2018.

17

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Effective January 1, 2019, the Company and its subsidiary, DLIH 2016, initiated a hedging program arrangement related to the Company's FIA products. Under this arrangement, the Company transferred equity options to DLIH 2016 at fair value on January 1 and April 1, 2019, totaling $113.4 million and $63.0 million, respectively, in the form of capital contributions. The Company realized net losses of $7.8 million and $0.3 million on these transfers, respectively. During 2019, on behalf of DLIH 2016, the Company began purchasing and immediately transferring new FIA equity options to DLIH 2016 on an ongoing basis. $37.6 million of such purchases were transferred at fair value and were subsequently reimbursed by DLIH 2016. The Company reported no gains or losses on these transactions. All economic rights and responsibilities of the equity options transferred during 2019 belong to DLIH 2016. Additionally, DLIH 2016 began purchasing equity futures in 2019 as part of the FIA hedging program. The Company also contributed $10.0 million to DLIH 2016 in 2017.

During 2017, the Company purchased an 80% controlling interest in Clear Spring Property and Casualty Company (formerly SeaBright Insurance Company) ("CSP&C") through its indirect wholly-owned subsidiary, Clear Spring PCAcquisition Corp. CSP&C is a Texas domestic property and casualty insurance company. The Company invested a total of $48.8 million for the acquisition of CSP&C and for additional capital contributions during 2017. At December 31, 2019 and 2018, $2.7 million and $3.0 million of unamortized goodwill related to the purchase was reflected in the Company's carrying value of CSPCH.

During 2019, 2018 and 2017, the Company contributed $87.2 million, $8.5 million, and $2.0 million to its subsidiary health holding company, CSHH, of which $14.5 million was used by CSHH to purchase Clear Spring Health Insurance Company (formerly Corvesta Life Insurance Company) ("CSHIC") in April 2019, $2.0 million was used to purchase Community Care Alliance of Illinois, Inc. (formerly Community Care Alliance of Illinois, NFP) ("CCAI") in May 2019, and $3.5 million was used to purchase Eon Health Plan, LLC ("EHP") and its subsidiaries, Eon Health, Inc. (South Carolina) ("Eon SC") and Eon Health, Inc. (Georgia) ("Eon GA") in June 2018. The difference between the cost of these entities paid by CSHH and their statutory book values at the date of purchase resulted in goodwill. At December 31, 2019 and 2018, $20.6 million and $4.8 million of unamortized goodwill was reflected in the Company's carrying value of CSHH in schedule BA. During 2019 and 2018, CSHH contributed additional capital to its direct and indirect subsidiaries as follows:

(In Thousands)
Entity		2019		2018
Clear Spring Health of Illinois, Inc	$	6,200	$	—
Clear Spring Health (CO), Inc.		6,000		—
Clear Spring Health (VA), Inc.		6,500		—
Clear Spring Health (IL), Inc.		2,000		—
CSHIC		2,500		—
CCAI		24,100		—
Eon SC		3,402		3,000
Eon GA		7,298		2,000
Total	$	58,000	$	5,000

The Company values its investments in CSPCH and CSHH using the look-through approach described in SSAP No. 97 because CSPCH and CSHH are unaudited non-insurance holding companies. The Company calculates the value of its ownership interest in CSPCH and CSHH using the audited statutory value of their downstream insurance subsidiaries plus adjustments required by SSAP No. 97, such as unamortized goodwill. All liabilities, commitments, contingencies, guarantees or obligations required to be recorded were considered by the Company

18

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

in the determination of the carrying values. The carrying values of CSPCH and CSHH were $36.0 million and $66.1 million, respectively at December 31, 2019, and $44.8 million and ($2.3) million, respectively, at December 31, 2018.

Dividends/Distributions

During 2019 and 2018, the Company received or accrued the following amounts from subsidiaries:

(In Thousands)
Date	Entity		Amount	Form	Asset Description
May 3, 2019	DLIH 2016	$	25,000	Distribution	Cash
August 7, 2019	DLIH 2016	$	5,000	Distribution	Cash
September 18, 2019	DLRC	$	2,357	Ordinary dividend	Invested assets and cash
December 13, 2019	DLRC	$	1,335	Extraordinary dividend	Cash
December 17, 2019	DLRC	$	27,307	Return of capital	Invested assets and cash
December 31, 2019	DLIH 2016	$	7,000	Distribution	Accrual
October 3, 2018	DLRC	$	2,878	Ordinary dividend	Cash
December 10, 2018	Ellendale	$	20,000	Distribution	Cash
December 18, 2018	DLNY	$	20,312	Ordinary dividend	Cash
December 22, 2017	DLNY	$	40,436	Ordinary dividend	Cash

Reinsurance-Related Agreements

During 2018, the Company had two reinsurance agreements with DLRC. Under one agreement, the Company cedes certain risks associated with the Company's variable annuity contracts and associated riders on a combination modified coinsurance and funds withheld coinsurance basis to DLRC (the "VA Treaty"). Under the second agreement, the Company cedes a quota share of certain risks associated with various fixed index annuity products and associated riders to DLRC (the "FIA Treaty"). The VA Treaty and the FIA Treaty transferred hedging risks to DLRC, but did not transfer insurance risks. Both treaties were accounted for using deposit accounting. As a result of the treaties between the Company and DLRC, certain gains (losses), previously accounted for as other changes in capital stock and surplus, net investment income (loss), and net realized capital gains (losses), are accounted for as investment income (loss) on reinsurance deposit asset. The Company made changes in the hedging strategy during 2018 and certain hedges were excluded from or added to the two treaties. DLRC, as reinsurer, consented to these changes as required by the treaties.

During 2019, the Company recaptured the FIA Treaty but maintained the VA Treaty as described above. DLRC, as reinsurer, consented to the recapture as required by the treaty. The recapture decreased both the reinsurance deposit asset and funds held under coinsurance associated with the FIA treaty by $724.4 million but had no effect on the surplus of the Company.

Hedging risk is defined as changes in unrealized hedging instrument gains or losses, realized gains and losses on dispositions of hedging instruments, and investment income or loss from hedging instruments. "Investment expense (income) on funds held" represents amounts paid or received on hedging instruments that were ceded under the treaties, and for 2017 and 2016, ceded realized gains and losses on dispositions of hedging instruments. Beginning in 2018, the ceded realized gains and losses were reported in "Net realized capital gains (losses)".

19

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

"Investment income (expense) on funds held - unrealized" represents the unrealized gain or loss for the period on hedging instruments that has been ceded to DLRC. "Investment income (loss) on reinsurance deposit asset" represents the net gains and losses on all hedging instruments ceded under the treaties.

A summary of the pretax impacts of these two treaties on the Company's Statements of Operations and Statements of Changes in Capital Stock and Surplus is set forth below as of December 31:

(In Thousands)				Treaty
				Impacts
		2019		2018		2017
Statements of Operations
Investment Income (Loss) on Reinsurance Deposit Asset	$	(116,980)	$	19,592	$	(262,531)
Total Revenue		(116,980)		19,592		(262,531)
Investment Expense (Income) on Funds Held		(358,699)		123,723		(299,170)
Total Policyholder Benefits and Expenses		(358,699)		123,723		(299,170)
Net Realized Capital Gains (Losses)		83		(23,223)		—
Net (loss) income		241,802		(127,354)		36,639
Statements of Changes in Capital Stock and Surplus
Investment Income (Expense) on Funds Held - Unrealized		(241,802)		127,354		(36,639)
Net Change in Capital Stock and Surplus from
VA and FIA Treaties (excluding reinsurance fee)	$	— $		— $		—

In addition, the Company recognized a reinsurance deposit accounting asset of $371.0 million and $1,052.0 million at December 31, 2019 and 2018, respectively, and a corresponding amount in funds held under coinsurance liability.

The Company has a reinsurance agreement with Delaware Life Reinsurance (Barbados) Corp. ("Barbco"), an affiliate, under which it cedes risks associated with certain of the Company's in-force corporate-owned variable universal life insurance and private placement variable universal life insurance policies on a combination coinsurance and coinsurance with funds-held basis.

The Company also has a reinsurance agreement with Barbco under which it cedes mortality risks associated with certain of the Company's in-force bank-owned variable universal life insurance policies on a yearly renewable term basis.

Debt and Surplus Note Transactions

In June 2017, Delaware Life Insurance and Annuity Company (Bermuda) Ltd. ("DLIAC") entered into a $40.0 million demand promissory note (the "DLIAC Note") with the Company. DLIAC's borrowings under the DLIAC Note may be used for general corporate purposes. Borrowings bear interest at LIBOR plus 115 basis points, with a commitment fee of 48 basis points for any unused portion of the DLIAC Note. In June 2019, the DLIAC Note was replaced with a new demand promissory note with the same terms and no commitment fee. There were no outstanding borrowings as of December 31, 2019 and 2018.

In May 2017, DLNY entered into a $35.0 million demand promissory note (the "DLNY Note") with the Company. DLNY's borrowings under the DLNY Note may be used for general corporate purposes. Borrowings bear interest

20

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

at LIBOR plus 115 basis points, with a commitment fee of 48 basis points for any unused portion of the DLNY Note. There were no outstanding borrowings as of December 31, 2019 and 2018.

As of December 31, 2019 and 2018, the Company had $565.0 million of surplus notes outstanding. The Company has an agreement with Deutsche Bank Trust Company Americas ("DBTCA"), whereby the surplus notes were taken into custody by the bank on behalf of the holders of the surplus notes, some of which were related parties as of December 31, 2019 and 2018 (the "Noteholders").

DBTCA collects all surplus note payments and distributes such funds to the Noteholders. The DBTCA agreement allows the Noteholders to transfer any part of the surplus notes they hold, subject to the consent of the Company and with proper notice given to DBTCA. As of December 31, 2019, the Noteholders were as follows: Eisenhower LLC, EquiTrust Life Insurance Company, Estate of Jeffrey S. Lange, Guggenheim Life and Annuity Company, Heritage Life Insurance Company, Midland National Life Insurance Company, Naismith LLC, North American Company for Life and Health Insurance, and Security Benefit Life Insurance Company.

The details of outstanding surplus notes at December 31, 2019 and 2018 were as follows (amounts in thousands):

									Interest Paid
							Principal/		Years Ended
Issue Date	Type	Rate	Maturity	Face Amount				December 31,
						Carrying Value		2019 and 2018
12/15/1995	Surplus	6.15%	12/15/2027	$	150,000	$	150,000	$	9,225
12/15/1995	Surplus	7.626%	12/15/2032		150,000		150,000		11,439
12/15/1995	Surplus	6.15%	12/15/2027		7,500		7,500		461
12/15/1995	Surplus	7.626%	12/15/2032		7,500		7,500		572
12/22/1997	Surplus	8.625%	11/6/2027		250,000		250,000		21,563
				$	565,000	$	565,000	$	43,260

The surplus notes and accrued interest thereon are subordinate to payments due to policyholders, claimants and beneficiaries, as well as all other classes of creditors other than the Noteholders. After payment in full of certain obligations set forth in Section 5918 of the Delaware Insurance Code, and prior to any payment to a common shareholder in respect of such shareholder's ownership interest in the Company, the holder of a surplus note is entitled to receive payment in full. The Company has no preferred stockholders. Any redemption of a surplus note is subject to the prior written consent of the Delaware Commissioner of Insurance.

The Company incurred $43.3 million of interest on the surplus notes for the years ended December 31, 2019, 2018 and 2017, respectively. Total interest paid from inception through December 31, 2019 was approximately $992.7 million. There have been no principal payments since original issuance of the surplus notes.

Each accrual and payment of interest on the surplus notes may be made only with the prior approval of the Delaware Commissioner of Insurance and only to the extent that the Company has sufficient surplus earnings to make such payment. The Company received approval for all surplus note interest payments and the related accrual in the amount of $4.3 million at December 31, 2019 and 2018.

21

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Administrative Services Agreements

The Company has entered into various related-party agreements. The following agreements were in effect at December 31, 2019 and 2018:

The Company participates in the Group 1001 401(k) Savings Plan (the "401(k) Plan") (formerly the Delaware Life Insurance Company 401(k) Savings Plan), which qualified under Section 401(k) of the Internal Revenue Code (the "IRC") and includes a retirement investment account feature (the "RIA") that qualifies under Section 401(a) of the IRC. The plan name change was effective January 1, 2019 when the sponsor was changed to Group 1001 Resources, LLC ("GOTO Resources") from Delaware Life Insurance Company. Expenses under the 401(k) Plan and the RIA are allocated to affiliates pursuant to inter-company service agreements. The expenses incurred by the Company under the 401(k) Plan and the RIA were $2.2 million, $2.3 million, and $2.1 million, respectively, for the years ended December 31, 2019, 2018 and 2017, of which $0.1 million was allocated to DLNY each of those years.

The Company has a management services agreement with DLNY, whereby the Company furnishes certain investment, actuarial and administrative services to DLNY on a cost-reimbursement basis. The Company allocated amounts related to this agreement of $7.8 million, $9.4 million, and $8.6 million for the years ended December 31, 2019, 2018 and 2017, respectively.

The Company has an administrative services agreement with DLIAC, pursuant to which the Company performs various administrative services on behalf of DLIAC. Amounts allocated under this agreement amounted to approximately $0.4 million, $0.4 million, and $0.3 million for the years ended December 31, 2019, 2018 and 2017, respectively.

The Company has an administrative services agreement with Clarendon pursuant to which the Company provides services and facilities in connection with Clarendon's business of supporting the wholesale distribution of the Company's variable insurance and annuity products. The Company also has a principal underwriter's agreement dated April 1, 2002 with Clarendon, pursuant to which Clarendon serves as principal underwriter and distributor for all variable insurance and annuity products issued by the Company. There were equal and offsetting amounts incurred under these two agreements.

The Company has a services agreement with Barbco, pursuant to which the Company provides certain administrative and functional services to Barbco on a cost-reimbursement basis. Amounts allocated under this agreement amounted to approximately $0.3 million, $0.4 million, and $0.3 million for the years ended December 31, 2019, 2018 and 2017, respectively.

The Company has an administrative services agreement with DLRC, pursuant to which the Company furnishes certain investment, actuarial and administrative services to DLRC. Amounts allocated under this agreement amounted to approximately $0.2 million for the years ended December 31, 2019, 2018 and 2017.

The Company has a services agreement with CSP&C, pursuant to which the Company furnishes certain administrative and functional services to CSP&C. Amounts allocated under this agreement were $0.6 million for each of the years ended December 31, 2019, 2018 and 2017.

A federal tax allocation agreement has been implemented with the Company as the common parent of an affiliated group of companies that includes DLNY, as described in Note 15.

The Company has an administrative services agreement between the Company and Delaware Life Reinsurance (U.S.) Corp. ("DLOK"), pursuant to which the Company provides certain services to DLOK, including finance, legal, compliance, administrative, information technology and other operational and support functions. No amounts were allocated under this agreement for the years ended December 31, 2019, 2018 and 2017.

22

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The Company has a services and resource sharing agreement between the Company and EHP, pursuant to which the Company provides certain services and resources to EHP, including finance, legal, compliance, human resources, investment, administrative, information technology and other support functions. No amounts were allocated under this agreement for the years ended December 31, 2019 and 2018.

The Company has a services and resource sharing agreement between the Company and Group One Thousand One Advisory Services, LLC ("GOTO Advisory"), pursuant to which the Company provides certain services and resources to GOTO Advisory, including the provisions of investment management services and related resources. No amounts were allocated under this agreement for the years ended December 31, 2019 and 2018.

The Company has a services and resource sharing agreement between the Company and CSHH pursuant to which the Company provides certain services and resources to CSHH, including personnel for finance, legal, compliance, human resources, administrative, information technology and other operational support functions. No amounts were allocated under this agreement for the years ended December 31, 2019 and 2018.

The Company has a facilities use agreement between the Company and GOTO Resources dated January 1, 2019, pursuant to which the Company provides use of certain of its facilities to GOTO Resources. No amounts were allocated under this agreement for the year ended December 31, 2019.

The Company has a services and resource sharing agreement between the Company and GOTO Resources, dated January 1, 2019, pursuant to which GOTO Resources provides certain services and resources to the Company, including personnel for finance, legal, compliance, human resources, administrative, information technology and other operational support functions. Amounts allocated under this agreement amounted to approximately $85.4 million for the year ended December 31, 2019.

The Company has a services and resource sharing agreement between the Company and Clear Spring Health Management Services, LLC ("CSHMS"), dated January 1, 2019, pursuant to which CSHMS provides certain services and resources to the Company, including personnel for finance, legal, compliance, human resources, administrative, information technology and other operational support functions. Amounts allocated under this agreement amounted to approximately $4.3 million for the year ended December 31, 2019.

The Company has a services and resource sharing agreement between the Company and CSHMS, dated January 1, 2019, pursuant to which the Company provides certain services and resources to CSHMS, including personnel for finance, legal, compliance, human resources, administrative, information technology and other operational support functions. No amounts were allocated under this agreement for the year ended December 31, 2019.

The Company has an administrative services agreement between the Company and Delaware Life Marketing, LLC ("DLM"), dated January 1, 2019, pursuant to which the Company agrees to provide certain services and use of facilities to DLM. The services relate to the business of DLM. The primary business of DLM is the distribution of the Company's annuity products and related activities. No amounts were allocated under this agreement for the year ended December 31, 2019.

The Company has an amended and restated master agency agreement between the Company and DLM, dated January 1, 2019, pursuant to which DLM provides certain distribution and agent management services to the Company. Amounts allocated under this agreement amounted to approximately $11.8 million for the year ended December 31, 2019 and is included in commission expense in the Statutory Statement of Operations.

On August 2, 2013, the Parent acquired all of the issued and outstanding shares of the Company from Sun Life Canada (U.S.) Holdings, Inc. (the "Sale Transaction"). In connection with the Sale Transaction, the Company's controlling persons agreed that the Company would comply with the filing and other requirements contained in Section 5005(a) of the Delaware Insurance Code with respect to any transaction subject to Section 5005(a)(2) between (a) the Company, on the one hand, and (b) (I) Guggenheim Capital, LLC ("GC") or a subsidiary thereof, or (II) Sammons Enterprises, Inc. or a subsidiary thereof, on the other hand. The following are agreements in effect that the Company has filed pursuant to the terms of this undertaking:

The Company has an investment management agreement with Guggenheim Partners Investment Management,

23

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

LLC ("GPIM"), whereby GPIM provides investment management services for certain of the Company's investments. Expenses incurred under this agreement amounted to approximately $7.8 million, $5.8 million, and $4.2 million, for the years ended December 31, 2019, 2018 and 2017, respectively.

The Company had an investment services agreement with GPIM, which last payment for services was July 2018, whereby GPIM provided services to the Company with respect to certain General Account assets that GPIM did not manage for the Company under the above-cited agreement. Expenses incurred under this agreement amounted to approximately $2.2 million, and $2.9 million for the years ended, December 31, 2018 and 2017, respectively.

The Company has a services agreement with Guggenheim Commercial Real Estate Finance, LLC ("GCREF"), whereby GCREF provides mortgage loan sourcing, origination and administration services to the Company. No expenses related to this agreement were incurred during 2019, 2018, or 2017.

The Company has a services agreement with Guggenheim Insurance Services, LLC ("GIS"), whereby GIS provides certain personnel, facilities, systems and equipment in conjunction with the provision of accounting and general services, insurance services, and other advisory services to the Company. Expenses incurred under this agreement amounted to approximately $57.1 million, $65.5 million, and $58.6 million for the years ended December 31, 2019, 2018 and 2017, respectively.

The Company has a master agency agreement between the Company and Dunbarre Insurance Agency, LLC ("Dunbarre"), together with a related commission payment facility agreement and an assignment and assumption agreement, under which the Company authorized Dunbarre to recruit producers to solicit and sell life insurance and annuity contracts and to accept assignment of previously recruited producers. Expenses incurred under this agreement amounted to approximately $11.1 million, $15.5 million, and $16.8 million for the years ended December 31, 2019, 2018 and 2017, respectively.

The Company has a limited discretionary investment advisory agreement between the Company and Guggenheim Investment Advisors, LLC ("GIA"), pursuant to which GIA provides investment advisory services to the Company. Expenses incurred under this agreement amounted to $0.1 million the year ended December 31, 2019. The Company did not incur expenses under this agreement for the year end December 31, 2018.

The Company has a selling agreement among the Company, GIS, and South Blacktree Insurance Agency, LLC related to the sale of certain private placement variable universal life insurance policies and funding agreements issued by the Company as identified in the selling agreement. The Company did not incur expenses under this agreement for the years ended December 31, 2019, 2018 and 2017.

The Company had $103.4 million and $12.9 million due from affiliates, $15.1 and $0 due to affiliates, and $1.9 million and $19.0 million included in general expenses due or accrued to other related parties as of December 31, 2019 and 2018, respectively, under the terms of various management and services contracts which provide for cash settlements on a quarterly or more frequent basis. The $103.4 million includes a $100.0 million capital contribution receivable from its Parent described in Note 21.

Other

As of December 31, 2019, the Company held two short-term investments from affiliates, Armstrong STF IV, LLC ("Armstrong") and Wright STF III, LLC ("Wright"), totaling $200.0 million. The Company recorded $0.6 million of investment income in 2019 related to these investments, and the average yield was 5.7%. During 2018, the Company held other affiliated short-term investments purchased in 2017 from Armstrong and Wright as well as Marcy STF I, LLC and DLM (formerly Redfield STF II, LLC) that matured in 2018 resulting in no gain. The Company recorded $9.1 million and $15.5 million of investment income on these investments in 2018 and 2017, respectively, and the average yields were 7.4% and 7.35% in 2018 and 2017, respectively.

24

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

During 2018, the Company purchased a short-term investment from an affiliate, WPH Holdings II Parent LLC ("WPH") totaling $256.0 million, and disposed of $171.0 million and $85.0 million of this investment in 2019 and 2018, respectively, resulting in no gain. $10.0 million of the $85.0 million 2018 disposal was sold to Aureum Reinsurance Company, Ltd. ("ARC") as part of a related-party transaction. During 2019, the Company acquired a short-term investment from WPH totaling $202.5 million that matured in 2019 resulting in no gain. The Company recorded $23.3 million and $13.8 million of investment income related to these short-term investments in 2019 and 2018, respectively, and the average yields were 8.0% in both 2019 and 2018.

The Company acquired $93.6 million of bonds and $9.8 million of mortgages from affiliates in 2019, including the invested assets received from DLRC capital transactions noted above, and received proceeds of $71.1 million from affiliates. During 2018, the Company received bond proceeds of $2.5 million from affiliates. Gains recognized on the transactions in 2019 and 2018 were immaterial.

The Company purchased $17.2 million and $7.7 million of bonds and received proceeds of $5 million and $721.4 million from bond sales from parties related to or managed by GC in 2019 and 2018, respectively. No gains and losses were recognized by the Company on these transactions in 2019, but $13.3 million of gains were recognized in 2018.

At December 31, 2019 and 2018, the Company had investments in affiliates and parties related to or managed by Guggenheim Capital, LLC, Inc. as follows:

Affiliated Investments excluding Investments in Subsidiaries:
		December 31,
(In Thousands)	2019				2018
Short-Term Investments	$	200,000	$		171,000
Bonds		67,000			59,766
Preferred Stocks		255,000			255,000
Commercial Mortgage Loans		8,831			—
Total	$	530,831		$	485,766
Non - Affiliated Related Parties and Guggenheim Managed Investments:

(In Thousands)		December 31,
	2019			2018
Bonds	$	879,267	$	817,359
Commercial Mortgages Loans		—		2,534
Common Stocks		44,333		54,773
Other Invested Assets		22,580		43,495
Total		946,180		918,161

During 2018 and 2017, the Company's wholly-owned subsidiary, DL Service Holdings, LLC, held company-owned life insurance ("COLI") policies on the lives of key executives of the Company issued by EquiTrust Life Insurance Company ("ELIC"), a former related party. These policies were surrendered during 2018, and the Company received cash equal to the net cash surrender value of $78.3 million.

In 2014, the Company issued private placement variable universal life ("PPVUL") policies to ELIC through a subsidiary single member limited liability company, IDF IX, LLC. During 2018, ELIC surrendered the policies with a total value of $255.8 million, and the Company demanded repayment of $182.4 million of related policy loans,

25

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

including capitalized interest. In December 2018, prior to the settlement of the surrender and related policy loans, ELIC sold its rights to the cash surrender value of the PPVUL policies and its obligations of the related policy loans to an external party. As a result of the sale and subsequent settlement transactions, the Company exchanged the PPVUL policies for funding agreements at the same total value and received $166.2 million of corporate term loans and $16.2 million of cash to extinguish the policy loan debt assumed by the external party.

Guarantees

The Company, as successor to Keyport Life Insurance Company ("Keyport"), unconditionally guarantees the full and punctual payment when due of any obligations of the former Keyport Benefit Life Insurance Company ("KBL") arising out of or in connection with any contract issued by KBL on or after June 25, 1998 and before December 31, 2002, the date that KBL merged with and into the Company's wholly-owned subsidiary, DLNY. The purpose of this guaranty was to enhance the financial strength of KBL. The liability of the Company under the guaranty is unlimited to any specific sum. The guaranty will not exceed contractual obligations to the policyholders of the contracts. The cash surrender value of the contracts at December 31, 2019 and December 31, 2018 was approximately $193.0 million, and $207.9 million, respectively. At December 31, 2019 and 2018, there was no liability accrued for this guaranty.

The Company guarantees on a subordinated basis all amounts payable by DLNY to holders of certain deferred combination fixed and variable annuity contracts ("MVA Contracts") issued by DLNY which include the option to earn a guaranteed fixed return for specified periods ("Guarantee Period"). The Company unconditionally and irrevocably guarantees the full and punctual payment when due of all amounts payable by DLNY from a Guarantee Period to any holder. The guaranty is subject to no preconditions other than the failure by DLNY to pay when due any Guarantee Period interests. DLNY registered such Guarantee Period interests under the Securities Act of 1933 with the U.S. Securities and Exchange Commission (the "SEC"). Under the SEC's rules, implementation of the guaranty permitted DLNY to stop filing periodic reports with the SEC pursuant to the Securities Exchange Act of 1934, and the purpose of the guaranty was to achieve that result. The Company's guaranty in this regard guarantees the payment of amounts payable by DLNY from a Guarantee Period but does not guaranty any other obligations of DLNY under the MVA Contracts. The obligations under the foregoing guaranty are unsecured obligations of the Company and subordinate in right of payment to the prior payment in full of all other obligations of the Company, except for guarantees which by their terms are designated as ranking equally in right of payment with or subordinate to this guaranty. The liability of the Company under the guaranty is unlimited to any specific sum. The guaranty will not exceed contractual obligations to the holders of the MVA Contracts. The total account value of the MVA Contracts was approximately $6.3 million and $6.8 million at December 31, 2019 and 2018, respectively. There is no liability accrued for this guaranty.

Pursuant to an agreement effective January 20, 2017, the Company guarantees punctual payment to Merrill Lynch Professional Clearing Corp. ("ML Pro") and certain affiliates of ML Pro (collectively, the "Guaranteed Parties") by certain subsidiaries of the Company that may be added to the guaranty (collectively, the "ML Customers"), in connection with accounts the ML Customers have with the Guaranteed Parties. The obligations of the Company under the guaranty agreement are limited to $300.0 million.

In 2018, CSP&C entered into a lease agreement for an office in Boca Raton, Florida that expires February 2021. The Company is a guarantor of the lease which has future minimum lease commitments of approximately $0.2 million as of December 31, 2019.

Pursuant to a Letter of Credit Facility Agreement between the Company and CSP&C, the Company was issued a $12.0 million irrevocable letter of credit effective September 30, 2019 by the Federal Home Loan Bank of Indianapolis (the "FHLB") on behalf of an unrelated party, and CSP&C pays the Company a facility fee.

26

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

3.BONDS AND PREFERRED STOCKS

The statement value and fair value of the Company's bonds and preferred stocks were as follows:

December 31, 2019

(In Thousands)						Gross			Gross
		Statement			Unrealized			Unrealized				Estimated
Bonds:		Value				Gains			Losses			Fair Value
U.S. Governments	$	525,871	$			999	$		(77)	$		526,793
All Other Governments		11,434				505			(46)			11,893
U.S. States, Territories and		4,581				105			(15)			4,671
Possessions (Direct and Guaranteed)
U.S. Special Revenue and Special Assessment
Obligations and all Non-Guaranteed Obligations
of Agencies and Authorities of Governments		679,789				17,299			(1,886)			695,202
and Their Political Subdivisions
Industrial and Miscellaneous (Unaffiliated)		9,456,225				189,308			(81,190)			9,564,343
Hybrid Securities		171,443				11,366			(516)			182,293
Bond - Affiliated		67,000				—			—			67,000
SVO Identified Exchange Traded Funds		1,810				39			(20)			1,829
Total Bonds	$	10,918,153		$		219,621	$		(83,750)	$		11,054,024
Preferred Stocks	$	769,767		$		5,487	$		(350)	$		774,904
						December 31, 2018
(In Thousands)						Gross			Gross
		Statement				Unrealized			Unrealized			Estimated
		Value				Gains			Losses			Fair Value
Bonds:
U.S. Governments	$	265,444	$			163	$		(1,577)	$		264,030
All Other Governments		12,905				34			(260)			12,679
U.S. States, Territories and		3,732				35			(5)			3,762
Possessions (Direct and Guaranteed)
U.S. Special Revenue and Special
Assessment Obligations and all Non-
Guaranteed Obligations of Agencies and
Authorities of Governments and Their Political		254,762				5,096			(2,165)			257,693
Subdivisions
Industrial and Miscellaneous (Unaffiliated)		9,384,291				43,610			(355,599)			9,072,302
Hybrid Securities		167,960				1,432			(9,172)			160,220
SVO Identified Exchange Traded Funds		408,611				—			(31,727)			376,884
Total Bonds	$	10,497,705			$	50,370	$		(400,505)		$	10,147,570
Preferred Stocks	$	566,677	$			3,061	$		(938)	$		568,800

27

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The statement value and estimated fair value by maturity periods for bonds, other than ABS and MBS, are shown below. Actual maturities may differ from contractual maturities on ABS and MBS because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties; accordingly, the contractual maturities for those securities are not shown.

		December 31, 2019
(In Thousands)		Statement		Estimated
		Value		Fair Value
Due in one year or less	$	142,075	$	142,771
Due after one year through five years		2,275,165		2,307,066
Due after five years through ten years		2,735,234		2,781,359
Due after ten years		2,218,025		2,286,797
SVO Identified Exchange Traded Funds		1,810		1,830
Total before asset and mortgage-backed securities		7,372,309		7,519,823
Asset and mortgage-backed securities		3,545,844		3,534,201
Total	$	10,918,153	$	11,054,024

Proceeds from sales and maturities of investments in bonds and preferred stock during 2019, 2018 and 2017, were $6.7 billion, $4.4 billion, and $8.0 billion, including non-cash transactions of $366.7 million, $375.4 million, and $195.8 million, respectively; gross gains were $66.4 million, $41.4 million, and $63.6 million respectively; and gross losses were $34.8 million, $77.2 million, and $22.9 million, respectively.

The Company had unfunded commitments for future fixed income fundings of $1,134.9 million and $1,083.7 million as of December 31, 2019 and 2018 respectively.

Bonds included above with a statement value of approximately $5.2 million for the years ended December 31, 2019 and 2018 were on deposit with governmental authorities as required by law.

Investment-grade bonds were 96.7% and 97.8% of the Company's total bonds as of December 31, 2019, and 2018, respectively.

The fair value of publicly-traded bonds is determined using three primary pricing methods: third-party pricing services, non-binding broker quotes, and pricing models. Prices are first sought from third-party pricing services, with the remaining unpriced securities priced using one of the other two methods. For privately-placed fixed maturity securities, fair values are estimated using model prices or broker quotes. Aportion of privately-placed fixed maturity securities (typically SEC Rule 144A securities) are priced using market prices.

Structured securities, such as ABS, RMBS and CMBS, are priced using third-party pricing services, a fair value model, or independent broker quotations. Typical inputs used by these three pricing methods include, but are not limited to, reported trades, benchmark yields, issuer spreads, bids and/or estimated cash flows and prepayment speeds. In addition, estimates of expected future prepayments are factors in determining the price of ABS, RMBS and CMBS. These estimates are based on the underlying collateral and structure of the security, as well as prepayment speeds previously experienced in the market at interest rate levels projected for the underlying collateral. Actual prepayment experience may vary from these estimates. Exposure to any single issuer is less than 10% of net admitted assets.

The fair value of the Company's preferred stocks is first based on quoted market prices. Similar to fixed-maturity securities, the Company uses pricing services and broker quotes to price preferred stocks for which the quoted market price is not available.

28

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Other-than-temporary-impairment

The Company recognizes and measures OTTI for loan-backed and structured securities ("LBSS") in accordance with SSAP No. 43R. In accordance with SSAP No. 43R, if the fair value of a LBSS is less than its amortized cost basis at the Statutory Statements of Admitted Assets, Liabilities and Capital Stock and Surplus date, the Company assesses whether the impairment is an OTTI. When an OTTI has occurred, the amount of OTTI recognized in earnings is the difference between the amortized cost basis of the security and the present value of its expected future cash flows, discounted at the effective interest rate implicit in the security.

If the Company intends to sell the LBSS, or if it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis, an OTTI is considered to have occurred. The amount of the OTTI recognized in earnings is the difference between the amortized cost basis and the fair value of the security.

If the Company does not intend to sell the LBSS, or if it is not more likely than not that it will be required to sell the security before recovery of its amortized cost basis, the Company performs cash-flow based testing to determine if the present value of its expected future cash flows discounted at the effective interest rate implicit in the security is less than its amortized cost basis.

Estimating future cash flows is a quantitative and qualitative process that incorporates information received from third parties, along with assumptions and judgments about the future performance of the underlying collateral. Losses incurred on the respective portfolios are based on loss models using assumptions about key systematic risks, such as unemployment rates and housing prices, and loan-specific information, such as delinquency rates and loan-to-value ratios.

There were no credit impairments recorded in 2019, 2018 and 2017 on LBSS held as of December 31, 2019, 2018 and 2017, respectively, pursuant to SSAP No. 43R.

If the fair value of a bond, other than those subject to SSAP No. 43R, is less than its amortized cost basis at the Statements of Admitted Assets, Liabilities and Capital Stock and Surplus date, the Company assesses whether the impairment is an OTTI. When an OTTI has occurred, the amount of OTTI recognized in earnings is the difference between the amortized cost basis of the security and its fair value.

If the Company intends to sell the bond, or if it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis, an OTTI is considered to have occurred. If the Company does not intend to sell the bond, or if it is not more likely than not that it will be required to sell the security before recovery of its amortized cost basis, the Company employs a portfolio monitoring process to identify securities that are OTTI.

The Company has an Asset Valuation Committee composed of investment and finance professionals which meets at least quarterly to review individual issues or issuers that may be of concern. In determining whether a security is OTTI, the Asset Valuation Committee considers the factors described below. The process involves a quarterly screening of all securities with a fair value less than the amortized cost basis. Discrete credit events, such as a ratings downgrade, are also used to identify securities that may be OTTI. The securities identified are then evaluated based on issuer-specific facts and circumstances, such as the issuer's ability to meet current and future interest and principal payments, an evaluation of the issuer's financial position and its near-term recovery prospects, difficulties being experienced by an issuer's parent or affiliate, and management's assessment of the outlook for the issuer's sector. In making these evaluations, the asset valuation committee exercises considerable judgment. Based on the Asset Valuation Committee's evaluation, issues or issuers are considered for inclusion on one of the Company's following credit lists:

"Monitor List" - A security on this list is subject to a heightened level of monitoring because either the issue or the issuer or its industry, sector, geographic location, or political operating environment has been under stress.

29

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

"Watch List" - There is a preponderance of likelihood that either interest or principal will not be received according to the committee's expectations and may result in an impairment or write-offs.

"Impaired List" - The Asset Valuation Committee has concluded that the Company has the intent to sell the security, it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, or the amortized cost basis of the security is not expected to be recovered due to expected delays or shortfalls in the contractually specified cash flows. For these investments, the amount of OTTI recognized in the Company's Statements of Operations is the difference between the amortized cost basis of the security and its fair value or discounted cash flows.

Should it be determined that a security is OTTI, the Company records a loss through an appropriate adjustment in carrying value. For the years ended December 31, 2019, 2018 and 2017, the Company incurred write-downs of bonds totaling $0, $5.8 million, and $27.9 million respectively, including those subject to SSAP No. 43R. Of these amounts, no OTTI was related to sub-prime loans. $27.9 million of the 2017 OTTI was related to securities the Company intended to sell. All such OTTI was interest related.

There are inherent risks and uncertainties in management's evaluation of securities for OTTI. These risks and uncertainties include factors both external and internal to the Company, such as general economic conditions, an issuer's financial condition or near-term recovery prospects, market interest rates, unforeseen events which affect one or more issuers or industry sectors, and portfolio management parameters, including asset mix, interest rate risk, portfolio diversification, duration matching, and greater-than-expected liquidity needs. All of these factors could impact management's evaluation of securities for OTTI.

The gross unrealized losses and fair value of investments, which were deemed temporarily impaired, aggregated by investment category, number of securities, and the length of time in an unrealized loss position, at December 31,

2019 were as follows:

(in Thousands except # of securities)
	Less than 12 months								12 months or more											Total
				Fair		Unrealized						Fair		Unrealized						Fair		Unrealized
Bonds:	#			Value			Losses		#			Value			Losses		#			Value			Losses
U.S. Governments	3	$		405,016	$		(77)		—	$		—	$		—	3		$		405,016	$		(77)
All Other Governments	1			102			(1)	1				4,218			(45)	2				4,320			(46)
U.S. States, Territories and
Possessions (Direct and	2			2,985			(15)		—			—			—	2				2,985			(15)
Guaranteed)
U.S. Special Revenue and
Special Assessment Obligations
and all Non-Guaranteed
Obligations of Agencies and
Authorities of Governments and	29			220,710			(1,881)	3				389			(6)	32				221,099			(1,887)
Their Political Subdivisions
Industrial and Miscellaneous	111			1,399,329			(19,048)	86				971,377			(62,141)	197				2,370,706			(81,189)
(Unaffiliated)
Hybrid Securities	2			5,418			(313)	2				5,259			(203)	4				10,677			(516)
SVO Identified Exchange Traded	—			—			—		1			827			(20)		1			827			(20)
Funds
Total Bonds	148		$	2,033,560		$	(21,335)		93		$	982,070		$	(62,415)		241		$	3,015,630		$	(83,750)
Preferred Stocks	3	$		99,616	$		(350)		—	$		—	$		—	3		$		99,616	$		(350)

30

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The gross unrealized losses and fair value of investments, which were deemed temporarily impaired, aggregated by investment category, number of securities, and the length of time in an unrealized loss position, at December 31,

2018 were as follows:

(in Thousands except # of securities)
	Less than 12 months								12 months or more											Total
				Fair		Unrealized						Fair		Unrealized						Fair		Unrealized
Bonds:	#			Value			Losses		#			Value			Losses		#			Value			Losses
U.S. Governments	2	$		4,891	$		(82)	3		$		256,308	$		(1,495)	5		$		261,199	$		(1,577)
All Other Governments	2			250			(3)	3				10,906			(257)	5				11,156			(260)
U.S. States, Territories and
Possessions (Direct and	2			2,251			(5)		—			—			—	2				2,251			(5)
Guaranteed)
U.S. Special Revenue and
Special Assessment Obligations
and all Non-Guaranteed
Obligations of Agencies and
Authorities of Governments and	20			22,053			(436)	24				67,120			(1,729)	44				89,173			(2,165)
Their Political Subdivisions
Industrial and Miscellaneous	894			4,194,663			(167,435)	218				1,587,043			(188,163)	1,112				5,781,706			(355,598)
(Unaffiliated)
Hybrid Securities	28			91,258			(6,000)	5				36,135			(3,173)	33				127,393			(9,173)
SVO Identified Exchange Traded	—			—			—		3			376,884			(31,727)		3			376,884			(31,727)
Funds
Total Bonds	948		$	4,315,366		$	(173,961)		256		$	2,334,396		$	(226,544)		1,204		$	6,649,762		$	(400,505)
Preferred Stocks	3	$		40,000	$		(938)		—	$		—	$		—	3		$		40,000	$		(938)

As summarized in the table below, the Company had indirect exposure to sub-prime loans with a book adjusted carrying value of $1.0 million as of December 31, 2019. This amount represented approximately one-tenth of a percent of the Company's total invested assets. In terms of managing and mitigating sub-prime mortgage risk, the Company's overall exposure to these investments was as shown below (in thousands):

					Book/Adjusted
Type		Actual Cost			Carrying Value			Fair Value
					(excluding interest)
Residential Mortgage Backed Securities $		952	$		952	$		1,003
	$	952		$	952		$	1,003

As summarized in the table below, the Company had indirect exposure to sub-prime loans with a book adjusted carrying value of $1.4 million as of December 31, 2018. This amount represented approximately one-tenth of a percent of the Company's total invested assets. The Company's overall exposure to sub-prime mortgage risk was as shown below (in thousands):

			Book/Adjusted
Type	Actual Cost		Carrying Value		Fair Value
			(excluding interest)
Residential Mortgage Backed Securities $	864	$	864	$	915
Structured Securities	500		500		504
$	1,364	$	1,364	$	1,419

31

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

5 GI Securities

The Company's overall exposure to 5GI securities was as shown below:

(In thousands except for number of securities):

	Number of 5 GI Securities		Aggregate Book Adjusted		Aggregate Fair Value
			Carry Value
Investment	Current Year	Prior Year	Current Year	Prior Year	Current Year	Prior Year

LBSS	—	1	$	— $		1	$	— $		2
Preferred	1	—	$	255,000	$	—	$	255,000	$	—
Stock
Total	1	1	$	255,000	$	1	$	255,000	$	2

4. MORTGAGE LOANS ON REAL ESTATE

The Company invests in commercial first mortgage loans throughout the United States and Great Britain. Investments are diversified by property type and geographic area in order to manage credit risk. The Company monitors the condition of the mortgage loans in its portfolio.

In those cases, where mortgages have been restructured, appropriate allowances for losses are made. In those cases where, in management's judgment, the mortgage loan's value is impaired, appropriate losses are recorded.

32

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The following table shows the geographical distribution of the statement value of the Company's mortgage loan portfolio as of December 31, 2019 and 2018 (in thousands):

		2019		2018
Alabama	$	3,143	$	3,331
Arizona		9,854		2,352
California		132,444		73,401
Colorado		16,515		17,187
Connecticut		10,925		10,925
Florida		21,016		130
Georgia		10,927		10,813
Idaho		963		1,438
Illinois		25,000		48,523
Kansas		8,050		13,300
Kentucky		1,652		1,744
Louisiana		400		577
Maine		—		2,534
Massachusetts		5,684		979
Michigan		7,669		7,669
Minnesota		—		4,322
Missouri		493		—
Mississippi		—		2,567
New Jersey		3,690		5,426
New Mexico		3,849		4,125
New York		220,294		291,638
North Carolina		45,480		6,972
Nevada		15,610		—
Ohio		3,024		4,148
Oregon		5,872		5,202
Pennsylvania		5,478		3,011
South Carolina		20,010		1,535
Texas		8,010		7,323
Utah		3,133		3,549
Virginia		1,731		1,252
Washington		2,947		1,656
Wisconsin		2,923		43
Great Britain		12,057		8,995
General allowance for loan loss		(2,460)		(2,460)
Total Mortgage Loans on Real Estate	$	606,383	$	544,207

The Company had $91.6 million and $79.8 million of outstanding mortgage loan commitments on real estate as of December 31, 2019 and December 31, 2018 respectively.

The Company originated 59 mortgage loans and made additional investments after acquisition with a total cost of $299.5 million during the year ended December 31, 2019 with rates ranging from 4.59% to 7.18%. The Company originated nine mortgage loans and made four additional investments after acquisition with a total cost of $131.7 million during the year ended December 31, 2018 with rates ranging from 4.87% to 11.00%, and eighteen mortgage

33

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

loans with a total cost of $229.4 million during the year ended December 31, 2017 with rates ranging from 3.36% to 9.83%. During the years ended December 31, 2019, 2018 and 2017, the Company did not reduce interest rates on any outstanding mortgage loans. Mortgage loans are collateralized by the related properties and are no more than 75% of the property's value at the time the original loan is made.

A mortgage loan is considered impaired when it is probable that the principal or interest is not collectible in accordance with the contractual terms of the loan. The allowance for credit losses is estimated using the present value of expected cash flows discounted at the loan's effective interest rate or the fair value of the collateral. A specific allowance for loan loss is established for an impaired loan if the present value of expected cash flows discounted at the loan's effective interest rate, or the fair value of the loan collateral, less cost to sell, is less than the recorded amount of the loan. The Company did not have a specific allowance for loan loss at December 31, 2019 and 2018. A general allowance for loan loss is established based on an assessment of past loss experience on groups of loans with similar characteristics and current economic conditions. The general allowance for loan loss was $2.5 million at December 31, 2019 and 2018. While management believes that it uses the best information available to establish allowances, future adjustments may become necessary if economic conditions differ from the assumptions used in calculating them. At December 31, 2019 and 2018, the Company individually and collectively evaluated loans with a gross carrying value of $608.8 million and $546.7 million, respectively.

As of December 31, 2019 and 2018, the Company held no restructured loans. Should the Company hold any troubled debt, the Company may modify the terms of a loan by adjusting the interest rate, extending the maturity date, or both.

Delinquency status is determined based upon the occurrence of a missed contract payment. There were no loans past due greater than 90 days at December 31, 2019 and 2018.

The Company accrues interest income on impaired loans to the extent it is deemed collectible. Otherwise, receipts on non-performing loans are not recognized as interest income until the loan is no longer impaired, is sold, or is otherwise made whole. Any cash collected during the period where the loan is impaired is applied to lower its carrying value.

Other information is as follows:

					Residential					Commercial
		Farm		Insured		All Other			Insured		All Other		Mezzanine			Total
(In Thousands)
December 31, 2019
Recorded Investment
Current	$	—	$		—	$	—	$		—	$ 608,843	$		—	$ 608,843
December 31, 2018
Recorded Investment
Current	$	—	$		—	$	—	$		—	$ 546,667	$		—	$ 546,667

The Company did not have any mortgages accruing interest more than 90 days past due or with reduced interest during 2019 or 2018.

The Company did not have any investments in impaired loans during 2019 or 2018.

34

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Allowance for Credit Losses:

(In Thousands)

Balance at Beginning of Period            

Additions Charged to Operations       

Recoveries of Amounts Previously Charged Off  Balance at End of Period

2019           2018

$2,460      $ 2,460

——

——

$2,460      $ 2,460

The following table provides an aging of commercial mortgage loans as of December 31, 2019 and 2018, based on the recorded investment net of allowances for credit losses:

(In Thousands)
	2019			2018
Current	$	608,843	$	546,667
Total Allowance for Loan Loss		(2,460)		(2,460)
Total Mortgage Loans on Real Estate	$	606,383	$	544,207

The credit quality of the Company's mortgage loans is assessed by the debt service coverage ratio ("DSC") and loan to value ratio ('LTV"). The following table shows the recorded gross investment of the Company's mortgage loans aggregated by LTV and DSC as of December 31, 2019 and 2018.

				2019
(In Thousands)		Debt Service Coverage Ratio
		>1.2x	1.0x to < 1.2x			<1.0x	Total
Loan to Value Ratio
0%-59.99%	$	147,090	$	197,269	$	60,425	$ 404,784
60%-69.99%		33,050		11,569		37,700	82,319
70%-79.99%		1,265		95,262		25,213	121,740
80% or greater		—		—		—	—
Total	$	181,405	$	304,100	$	123,338	$ 608,843

				2018
(In Thousands)		Debt Service Coverage Ratio
		>1.2x	1.0x to < 1.2x			<1.0x	Total
Loan to Value Ratio
0%-59.99%	$	188,015	$	106,091	$	87,531	$ 381,637
60%-69.99%		41,239		17,669		32,500	91,408
70%-79.99%		—		—		73,622	73,622
80% or greater		—		—		—	—
Total	$	229,254	$	123,760	$	193,653	$ 546,667

35

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

5.REPURCHASE AGREEMENTS AND REVERSE REPURCHASE AGREEMENTS TRANSACTIONSACCOUNTED FOR AS SECURED BORROWING

REPURCHASE TRANSACTION - CASH PROVIDER -OVERVIEW OF SECURED BORROWING TRANSACTIONS

(1)The Company opportunistically uses repurchase transactions in conjunction with its liquidity management program to temporarily provide short-term liquidity from time-to-time as needed and determined by the Company. Using repurchase transactions to meet the short-term liquidity needs positions the Company to be prepared to execute on opportunistic investments as they arise. The collateral posted by the Company is subject to fair value change and a decline in fair value could require the Company to post additional collateral to the counterparty. This risk is mitigated by the Company's internal policy of limiting repurchase transactions to 5.0% of its available collateral. Potential liquidity risks arising from a duration mismatch between the collateral and repurchase transaction are mitigated by the Company's other sources of liquidity, such as monthly principal and interest payments, premium sales by the Company, and other lines of credit established by the Company. The Company typically receives cash for its repurchase transactions, however on occasion the Company has received United States Treasuries. In the case of United State Treasuries, the Company monitors the price of the Treasury collateral to ensure the Company is adequately collateralized.

(2)Type of Repurchase Trades Used

		1	2	3	4
		FIRST	SECOND	THIRD	FOURTH
a.	Bilateral (YES/NO)	Yes	Yes	Yes	Yes
b.	Tri-Party (YES/NO)	No	No	No	No

36

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

(3) Original (Flow) & Residual Maturity

(In Thousands)			FIRST	SECOND			THIRD		FOURTH
		QUARTER		QUARTER		QUARTER		QUARTER
a. Maximum Amount
1.	Open - No Maturity	$	25,000	$	25,000	$	25,000	$	25,000
2.	Overnight		—		—		—		—
3.	2 Days to 1 Week		—		—		—		—
4.	> 1 Week to 1 Month		—		—		—		—
5.	> 1 Month to 3 Months		—		—		—		—
6.	> 3 Months to 1 Year		—		—		—		—
7.	> 1 Year		—		—		—		—
b. Ending Balance
1.	Open - No Maturity	$	25,000	$	25,000	$	25,000	$	25,000
2.	Overnight		—		—		—		—
3.	2 Days to 1 Week		—		—		—		—
4.	> 1 Week to 1 Month		—		—		—		—
5.	> 1 Month to 3 Months		—		—		—		—
6.	> 3 Months to 1 Year		—		—		—		—
7.	> 1 Year		—		—		—		—

(4)Counter Party, Jurisdiction and Fair Value (FV) Not applicable

(5)Securities "Sold" Under Repurchase - Secured Borrowing

(In Thousands)			FIRST		SECOND		THIRD		FOURTH
			QUARTER		QUARTER		QUARTER		QUARTER
a. Maximum Amount
1.	BACV		XXX		XXX		XXX		XXX
2.	Nonadmitted -		XXX		XXX		XXX		XXX
	Subset of BACV
		$		$		$		$
3.	Fair Value		26,745		27,667		26,314		25,425
b. Ending Balance
1.	BACV	$	26,726	$	26,731	$	25,788	$	25,086
2.	Nonadmitted -		XXX		XXX		XXX		XXX
	Subset of BACV
3.	Fair Value		26,745		27,667		26,314		25,425

37

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

(6)Securities Sold Under Repurchase - Secured Borrowing by NAIC Designation

(In Thousands)		NONE	NAIC 1		NAIC 2		NAIC 3	NAIC 4	NAIC 5	NAIC 6	Nonadmitted
Bonds - BACV	$	— $	21,829	$	3,257	$	— $	— $	— $	— $	—
Bonds - FV		—	22,114		3,311		—	—	—	—	—
LB & SS - BACV		—	—		—		—	—	—	—	—
LB & SS - FV		—	—		—		—	—	—	—	—
Preferred Stock - BACV		—	—		—		—	—	—	—	—
Preferred Stock - FV		—	—		—		—	—	—	—	—
Common Stock		—	—		—		—	—	—	—	—
Total Assets - BACV		—	21,829		3,257		—	—	—	—	—
Total Assets - FV		—	22,114		3,311		—	—	—	—	—

(7)Collateral Received - Secured Borrowing

(In Thousands)			FIRST	SECOND	THIRD	FOURTH
			QUARTER	QUARTER	QUARTER	QUARTER
Maximum Amount
1.	Cash	$	— $	— $	— $	—
2.	Securities (FV)		26,745	27,667	26,314	25,425
Ending Balance
1.	Cash	$	— $	— $	— $	—
2.	Securities (FV)		26,745	27,667	26,314	25,425

(8)Cash & Non Cash Collateral Received - Secured Borrowing by NAIC Designation

	(In Thousands)	NONE	NAIC 1	NAIC 2	NAIC 3	NAIC 4	NAIC 5	NAIC 6	Nonadmitted
a. Cash		$ — $	— $	— $	— $	— $	— $	— $	—
b. Bonds - FV		—	25,425	—	—	—	—	—	—
c. LB & SS - FV		—	—	—	—	—	—	—	—
d. Preferred Stock - FV		—	—	—	—	—	—	—	—
e. Common Stock		—	—	—	—	—	—	—	—
f.	Mortgage Loans - FV	—	—	—	—	—	—	—	—
g.	Real Estate - FV	—	—	—	—	—	—	—	—
h.	Derivatives - FV	—	—	—	—	—	—	—	—
i.	Other Invested Assets - FV	—	—	—	—	—	—	—	—
j.	Total Collateral Assets - FV	—	25,425	—	—	—	—	—	—
	(Sum of a through i)

38

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

(9)Allocation of Aggregate Collateral by Remaining Contractual Maturity

	(in Thousands)		FAIR
			VALUE
a.	Overnight and Continuous	$	—
b.	30 Days or Less		—
c.	31 to 90 Days		—
d.	> 90 Days		25,425

(10)Allocation of Aggregate Collateral Reinvested by Remaining Contractual Maturity Not applicable

(11)Liability to Return Collateral - Secured Borrowing (Total) Not applicable

REVERSE REPURCHASE TRANSACTION - CASH PROVIDER -OVERVIEW OF SECURED BORROWING TRANSACTIONS

(1)The Company engages in a reverse repurchase agreement program. This program is intended to provide opportunistic, short-term financing to counterparties. Each repurchase agreement entered into is governed by the terms of the Master Repurchase Agreement (MRA) as agreed to between the parties. Under the terms of the MRA, the Company purchases investments from the counterparty and the counterparty agrees to repurchase the same, or similar investments, back from the Company on a specified date at a specified price. On the maturity date, the Company may elect to enter into a new repurchase agreement with that same repo counterparty. The Company's decision to do so will be dependent on the Company's liquidity needs and their assessment of the counterparty and collateral's performance.

As a risk-mitigant, the Company requires its counterparties to post collateral in excess of the loan amount, otherwise known as over collateralization. The amount of over collateralization is up to the Company's discretion, but will not be less than 102%. On average, the Company has required over collateralization of 120%. The short duration of the repurchase agreements and the over collateralization required by the Company mitigate potential financial risks associated with the transactions.

(2) Type of Repurchase Trades Used

		1	2	3	4
		FIRST	SECOND	THIRD	FOURTH
		QUARTER	QUARTER	QUARTER	QUARTER
a.	Bilateral (Yes/No)	Yes	Yes	Yes	Yes
b.	Tri-Party (Yes/No)	No	No	No	No

39

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

3) Original (Flow) & Residual Maturity

(In Thousands)			FIRST	SECOND			THIRD	FOURTH
		QUARTER		QUARTER		QUARTER		QUARTER
a. Maximum Amount
1.	Open - No Maturity	$	—	$	—	$	—	$	—
2.	Overnight		—		—		—		—
3.	2 Days to 1 Week		—		—		—		—
4.	> 1 Week to 1 Month		34,000		10,599		7,670		—
5.	> 1 Month to 3 Months		11,175		20,014		18,844		7,074
6.	> 3 Months to 1 Year		334,909		309,909		299,909		334,909
7.	> 1 Year		25,000		25,000		25,000		—
b. Ending Balance
1.	Open - No Maturity	$	—	$	—	$	—	$	—
2.	Overnight		—		—		—		—
3.	2 Days to 1 Week		—		—		—		—
4.	> 1 Week to 1 Month		34,000		9,434		7,670		—
5.	> 1 Month to 3 Months		11,175		10,000		—		5,880
6.	> 3 Months to 1 Year		300,909		299,909		201,909		334,909
7.	> 1 Year		—		25,000		25,000		—

(4)Counter Party, Jurisdiction and Fair Value (FV) Not applicable

(5)Fair Value of Securities Acquired Under Repurchase - Secured Borrowing

(In Thousands)		FIRST		SECOND		THIRD		FOURTH
		QUARTER		QUARTER		QUARTER		QUARTER
a. Maximum	$	428,269	$	425,911	$	424,095	$	421,503
Amount
b. Ending		426,630		424,453		287,249		420,011
Balance

40

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

(6) Securities Acquired Under Repurchase - Secured Borrowing by NAIC Designation

		1		2		3		4		5		6		7		8
(In Thousands)		NONE		NAIC 1		NAIC 2		NAIC 3		NAIC 4		NAIC 5		NAIC 6		NONADMITTED
Bonds - FV	$	394,736	$	25,275	$	—	$	—	$	—	$	—	$	—	$	—
LB & SS - FV		—		—		—		—		—		—		—		—
Preferred Stock - FV		—		—		—		—		—		—		—		—
Common Stock		—		—		—		—		—		—		—		—
Mortgage Loans - FV		—		—		—		—		—		—		—		—
Real Estate - FV		—		—		—		—		—		—		—		—
Derivatives - FV		—		—		—		—		—		—		—		—
Other Invested Assets -		—		—		—		—		—		—		—		—
FV
Total Assets	$	394,736	$	25,275	$	—	$	—	$	—	$	—	$	—	$	—

(7)Collateral Pledged - Secured Borrowing Not applicable

(8)Allocation of Aggregate Collateral Pledged by Remaining Contractual Maturity Not applicable

(9)Allocation of Aggregate Collateral Pledged by Remaining Contractual Maturity Not applicable

(10)Recognized Liability to Return Collateral - Secured Borrowing (Total)

Not applicable

6.INVESTMENT GAINS AND LOSSES

Realized capital gains and losses on bonds, preferred stock, mortgages and interest rate swaps, which relate to changes in the general level of interest rates, are charged or credited to the IMR, net of tax, and amortized into operations over the remaining contractual life of the security sold. Realized gains and losses from all other investments are reported, net of tax, in the Statements of Operations but are not included in the computation of net gain from operations.

Changes in unrealized gains and losses on investments are reported as a component of Capital Stock and Surplus, net of deferred income taxes.

41

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Realized gains and losses, net of amounts transferred to the IMR and capital gains tax, are as follows:

		Years Ended December 31,
	2019				2018			2017
(In Thousands)
Realized Gains (Losses):
Bonds	$	31,542	$		(41,605)	$		12,901
Preferred Stocks		8			23			(46)
Common Stocks		3,530			566			—
Mortgage Loans		48			374			(57)
Cash, Cash Equivalents and Short-term Investments		—			—			155
Other Invested Assets		4,154			(54,476)			(590)
Other Hedging Investments		—			—			—
Derivative Instruments		88,153			16,576			27,896
Reinsurance Realized Gains (Losses)		83			(23,223)			—
Realized Capital Gains/(Losses) - other		(78,176)			—			—
Subtotal		49,342			(101,765)			40,259
Capital Gains Tax Expense		10,362			—			8,105
Net Realized Gains (Losses)		38,980			(101,765)			32,154
Losses (Gains) Transferred to IMR (Net of Taxes)	$	(34,440)		$	91,199		$	(8,109)
Total	$	4,540	$		(10,566)	$		24,045

		Years Ended December 31,
		2019		2018		2017
(In Thousands)
Changes in Net Unrealized Capital Gains (Losses)
Net of Deferred Income Tax:
Bonds	$	(163)	$	(38)	$	(77)
Common Stocks of Non-affiliates		(7,791)		(2,144)		(1,473)
Common Stocks of Affiliates		45,453		(14,004)		(33,845)
Preferred Stocks		(41)		77,368		—
Derivative Instruments		101,770		(72,222)		26,171
Other Hedging Investments		67,196		(26,744)		7,694
Other Invested Assets		60,980		(68,093)		(115,335)
Unrealized Capital Gains/(Losses) - Other		78,176		—		—
Tax Rate change impact		—		—		21,140
Total	$	345,580	$	(105,877)	$	(95,725)

42

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The deferred tax (benefit) reflected in unrealized capital gains (losses) above, except for common stock of affiliates and other affiliated invested assets, was ($41.5) million, $26.6 million, and ($21.6) million at December 31, 2019, 2018 and 2017, respectively.

In 2015, the Company implemented a public bond trading strategy which resulted in the increase in investment cash flows from both sales and acquisitions of bonds. Included in the investment cash flows are proceeds from sales of bonds to related parties and the cost of bonds acquired from related parties totaling $736.9 million and $7.7 million, respectively, for the year ended December 31, 2018, and $1,060.9 million and $1,001.2 million, respectively, for the year ended December 31, 2017. The public bond strategy was discontinued and no related transactions occurred during 2019. Net realized gains before taxes and transfers to the IMR associated with the related-party sales totaled $13.3 million and $9.0 million for the years ended 2018 and 2017, respectively.

7. NET INVESTMENT INCOME

Net investment income consisted of:

		Years Ended December 31,
(In Thousands)		2019		2018		2017
Bonds (Unaffiliated)	$	577,949	$	426,102	$	359,474
Bonds (Affiliated)		2,634		—		—
Preferred Stocks (Unaffiliated)		46,447		21,777		14,351
Preferred stocks (affiliated)		15,826		—		—
Common Stocks (Unaffiliated)		10,307		13,033		23,086
Common Stocks (Affiliated)		3,693		23,190		40,436
Mortgage Loans		40,928		36,349		27,277
Contract Loans		17,535		28,459		29,563
Cash, Cash Equivalents and Short-term Investments		72,290		65,998		47,434
Derivative Instruments		(348,490)		133,172		(285,985)
Other Invested Assets		58,573		43,933		27,054
Other Investment Income		3,726		—		—
Gross Investment Income		501,418		792,013		282,690
Interest Expense on Surplus Notes		(43,260)		(43,260)		(43,260)
Investment Expenses		(31,246)		(29,586)		(34,729)
Net Investment Income	$	426,912	$	719,167	$	204,701

The Company's policy is to exclude investment income due and accrued with amounts that are over 90 days past due or where the collection of interest is uncertain. The Company did not have investment income due and accrued excluded from surplus for the years ended December 31, 2019 and 2018.

8.DERIVATIVES

The Company uses derivatives for hedging or replication purposes only. Interest rate swaps are mainly employed for hedging guaranteed minimum living benefits for certain variable annuity contracts and for duration matching purposes.

Options and swaptions are used to hedge equity and interest exposure embedded in the Company's fixed, fixed index, and variable annuity products. Futures are used to hedge equity exposure included in fixed indexed annuities,

43

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

as well as the guaranteed minimum death and living benefit features of the Company's variable annuities. Currency forwards and swaps are used to hedge changes in foreign currency exchange ("FX") rates.

Interest rate swaps, options, swaptions and currency swaps are reported at fair value, with the unrealized gain or loss reported as an adjustment to surplus if not designated an effective hedge. All futures are marked to market and settled on a daily basis, with the gain or loss reported as a component of net investment income (loss).

Beginning in July 2015, the Company began hedging the equity exposure embedded in its new FIA products with OTC options utilizing the Cash Return on Capital Invested, Sector III, and MAA indices. Fair value change in the options embedded within the policies are recorded in income. The OTC options were designated as fair value hedges with changes in fair value also recorded in income through September 30, 2018. On October 1, 2018, the Company elected to discontinue hedge accounting and de-designate the options and offsetting liabilities as hedge pairs. As a result, changes in the fair value of these options from October 1, 2018 to December 31, 2018 were recorded as unrealized losses in surplus. As described further in Note 2, in January 2019, the Company transferred equity options related to the FIA hedging program to DLIH 2016.

Market risk is the risk of loss due to market price changes of the derivative instrument or the underlying security or index. To mitigate this risk, the Company matches the market sensitivity of the hedge with the market sensitivity of the underlying asset or liability being hedged.

Credit risk is the counterparty credit risk or risk of loss as a result of default or a decline in market value stemming from a credit downgrade of the counterparty to the derivative transaction. The Company minimizes this risk by entering into derivatives only with counterparties that meet certain criteria, by utilizing standardized agreements, and by limiting counterparty concentrations.

All derivative transactions are covered under standardized contractual agreements with counterparties, all of which include credit-related contingent features. Certain counterparty relationships also may include supplementary agreements with tailored terms, such as additional triggers for early terminations, acceptable practices related to cross-transaction netting, and minimum thresholds for determining collateral.

Credit-related triggers include failure to pay or deliver on an obligation past certain grace periods, bankruptcy or the downgrade of credit ratings to below a stipulated level. These triggers apply to both the Company and its counterparty.

At December 31, 2019 and 2018, the Company pledged $150.9 million and $208.1 million, respectively, in U.S. Treasury securities and cash as collateral to counterparties. At December 31, 2019 and 2018, counterparties pledged to the Company $234.2 million and $144.4 million, respectively, in collateral comprised of cash and U.S. Treasury securities and corporate bonds.

44

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The Company's underlying notional or principal amounts associated with open derivatives positions were as follows:

					Outstanding at
					December 31, 2019
		Notional			Fair Value/
		Principal			Statement			Amortized			Unrealized
(In Thousands)		Amounts			Value			Cost			Gain (Loss)
Interest Rate Swaps	$	5,842,202	$		219,118	$		—	$		219,118
Currency Swaps		9,459			892			—			892
FX Forwards		29,900			90			—			90
Payor Swaptions		800,000			55			7,890			(7,835)
Total	$	6,681,561		$	220,155		$	7,890		$	212,265
					Outstanding at
					December 31, 2018
		Notional		Fair Value/
		Principal			Statement			Amortized			Unrealized
(In Thousands)		Amounts			Value			Cost			Gain (Loss)
Interest Rate Swaps	$	4,478,512	$		9,315	$		—	$		9,315
Currency Swaps		152,157			25,594			—			25,594
Credit Default Swaps		30,500			1,420			1,622			(202)
FX Forwards		4,216			91			—			91
Payor Swaptions		800,000			863			7,890			(7,027)
Equity Index Options		1,699,337			147,679			84,957			62,722
Total	$	7,164,722	$		184,962	$		94,469	$		90,493

At December 31, 2019 and 2018, open futures contracts had a notional value of $1,621.8 million and $2,232.6 million and a fair value of ($2.4) million and ($11.8) million, respectively. These amounts did not include the component of variation margin that had already been cash settled.

On November 1, 2018, the Company created 4 Replication Synthetic Asset Transactions ("RSATs") which were approved by the SVO. Each of the four RSATs are the combination of a long dated interest rate swap that pays fixed and receives floating rate coupons with a group of long dated fixed rate investment grade corporate bonds. The resulting synthetic asset is a long dated floating rate bond. The net unrealized loss on the four interest rate swaps was $2.5 million at November 1, 2018. This amount is being amortized over the remaining life of the swaps.

The Company did not have derivative contracts with financing premiums during 2019 or 2018.

9. REINSURANCE

Reinsurance ceded contracts do not relieve the Company from its obligations to policyholders. The Company remains liable to its policyholders for the portion reinsured to the extent that any reinsurer does not meet the obligations assumed under the reinsurance agreement. To minimize its exposure to significant losses from reinsurer insolvencies, the Company regularly evaluates the financial condition of its reinsurers and monitors concentrations of credit risk. Management believes that any liability arising from this contingency is unlikely.

45

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The Company has two reinsurance agreements with Barbco, refer to Note 2 for additional details. The Company has liabilities for the funds held under the coinsurance with funds held treaty with Barbco of $245.6 million and $247.0 million at December 31, 2019 and 2018, respectively.

The Company ceded certain risks during 2019 and 2018 to DLRC through the VA Treaty and the FIA Treaty. Refer to Note 2 for further details.

The Company has agreements with several unrelated companies, which provide for reinsurance of portions of the net amount at risk under certain of the Company's individual variable universal life, individual universal life, individual private placement variable universal life, corporate and bank-owned life insurance policies and accidental death benefit. These amounts are reinsured on either a monthly renewable term, yearly renewable term, or coinsurance basis.

The Company has agreements with unrelated companies that provide for reinsurance of guaranteed minimum death benefits under certain of its variable annuity contracts. These amounts are reinsured on a monthly renewable term basis.

In 2018, the Company ceded, on a coinsurance and modified coinsurance basis, in-force variable annuity base contracts to an unaffiliated reinsurer. For the year ended December 31, 2019, premiums ceded under the treaty were $156.0 million, and benefits ceded (including policy surrenders) were $1.6 billion. For the year ended December 31, 2018, premiums ceded under the treaty were $13.0 billion, and benefits ceded (including policy surrenders) were $1.9 billion.

The effects of reinsurance on premiums and benefits were as follows:

		Years Ended December 31,
(In Thousands)		2019		2018		2017
Premiums and Annuity Considerations:
Direct	$	2,616,422	$	2,735,942	$	2,079,789
Ceded - Affiliated		(28,989)		(22,573)		(29,101)
Ceded - Non-affiliated		(175,149)		(13,027,440)		(17,295)
Net Premiums and Annuity Considerations	$	2,412,284	$	(10,314,071)	$	2,033,393
Insurance and Other Individual Policy Benefits and Claims:
Direct		890,010		862,511		806,146
Assumed - Non-affiliated		6,584		4,214		4,182
Ceded - Affiliated		(29,416)		(22,493)		(26,772)
Ceded - Non-affiliated		(409,260)		(411,682)		(25,515)
Net Policy Benefits and Claims	$	457,918	$	432,550	$	758,041

10. RESERVES

The reserves for life insurance and annuity contracts are computed in accordance with presently accepted actuarial standards and are based on actuarial assumptions and methods (including use of published mortality tables and prescribed interest rates and methodologies) which produce reserves at least as great as those required by law and contract provisions.

Deduction of deferred fractional premiums upon death of the insured and return of any portion of the final premium for the period beyond the date of death are not applicable to the business of the Company. Surrender values are not promised in excess of reserves legally computed.

46

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

For policies with annual extra premiums, additional reserves are held equal to one-half the extra premium. Extra premiums on single premium policies are amortized over ten years. Policies issued with premiums corresponding to ages higher than the true ages are valued at the rated-up ages. Policies issued subject to a lien are valued as if the full amount were payable without any deduction. For interest-sensitive policies, substandard risks are reflected in the cost of insurance charges.

As of December 31, 2019 and 2018, the Company had $9.5 million and $10.9 million, respectively, of insurance in force (direct and assumed), for which gross premiums were less than the net premiums according to the standard of valuation required by the State of Delaware. Reserves (direct and assumed) to cover the above insurance totaled of $3.0 million and $3.1 million as of December 31, 2019 and 2018, respectively.

The Tabular Interest has been determined by formula as described in the NAIC instructions, except for some business which is determined from basic policy data for reserving. The Tabular less Actual Reserve Released has been determined by formula as described in the NAIC instructions. The Tabular Cost has been determined by formula as described in the NAIC instructions, except for universal life products which use cost of insurance and some business which uses basic policy data for reserving. The Tabular Interest on Funds not Involving Life Contingencies was determined from the interest credited to the deposits, except for certain guaranteed interest contracts which are determined by formula as described in the NAIC instructions. Other than normal updates of reserves, there were no significant reserve changes as of December 31, 2019 and 2018.

47

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

11.WITHDRAWAL CHARACTERISTICS OF ANNUITY ACTUARIAL RESERVES AND DEPOSIT-TYPE LIABILITIES

The withdrawal characteristics of annuity actuarial reserves and deposit-type contract funds and other liabilities without life or disability contingencies were as follows:

December 31, 2019

A. INDIVIDUAL ANNUITIES

		Separate	Separate
	General	Account		Total
(In Thousands)		with	Account		% of Total
	Account	Guarantees	Nonguaranteed	12/31/2019

1Subject to Discretionary Withdrawal:

	a	With Market Value	$	9,647,895	$	269,928	$	—	$	9,917,823	76.244%
		Adjustment
		At Book Value Less Current
	b	Surrender Charge of 5% or		946,115		—		—		946,115	7.273%
		More
	d	At Fair Value		—		—		746,664		746,664		5.740%
	d	Total with Adjustment or at		10,594,010		269,928		746,664		11,610,602	89.257%
		Market Value
	e	At Book Value Without
		Adjustment
		(Minimal or no Charge or		1,092,112		—		—		1,092,112	8.396%
		Adjustment)
2	Not Subject to Discretionary			272,214		—		33,079		305,293		2.347%
	Withdrawal
3	Total (Gross: Direct and Assumed)			11,958,336		269,928		779,743		13,008,007	100.000%
4	Reinsurance Ceded			42,837		—		—		42,837
5	Total (Net)		$	11,915,499	$	269,928	$	779,743	$	12,965,170
	Amount included in A(1)b above that
	will move to A(1)e in the year after
6	the statement date.		$	2,055	$	—	$	—	$	2,055

48

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

B. GROUP ANNUITIES

							Separate			Separate
				General			Account					Total
	(In Thousands)						with			Account				% of Total
				Account		Guarantees			Nonguaranteed			12/31/2019
1	Subject to Discretionary
	Withdrawal:
	a	With Market Value	$	—	$		151,300	$		—	$	151,300	1.446%
		Adjustment
		At Book Value Less Current
	b	Surrender Charge of 5% or		1			—			—		1		—%
		More
	c	At Fair Value		—			—			10,029,726		10,029,726		95.887%
	d	Total with Adjustment or at	$	1	$		151,300	$		10,029,726	$	10,181,027	97.333%
		Market Value
	e	At Book Value Without
		Adjustment
		(Minimal or no Charge or		39,702			—			—		39,702	0.380%
		Adjustment)
2	Not Subject to Discretionary			239,236			—			—		239,236		2.287%
	Withdrawal
3	Total (Gross: Direct and		$	278,939	$		151,300	$		10,029,726	$	10,459,965	100.000%
	Assumed)
4	Reinsurance Ceded			—			—			—		—
5	Total (Net)		$	278,939	$		151,300	$		10,029,726	$	10,459,965
	Amount included in B(1)b above
	that will move to B(1)e in the
6	year after the statement date.		$	—	$		—	$		—	$	—

49

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

C. DEPOSIT-TYPE CONTRACTS

							Separate			Separate
				General			Account					Total
	(In Thousands)						with			Account				% of Total
				Account		Guarantees			Nonguaranteed		12/31/2019
1	Subject to Discretionary
	Withdrawal:
	a	With Market Value	$	—	$		—	$		—	$	—		—%
		Adjustment
		At Book Value Less Current
	b	Surrender Charge of 5% or		—			—			—		—		—%
		More
	c	At Fair Value		—			—			288,617		288,617		30.039%
	d	Total with Adjustment or at	$	—	$		—	$		288,617	$	288,617	30.039%
		Market Value
	e	At Book Value Without
		Adjustment
		(Minimal or no Charge or		—			—			—		—		—%
		Adjustment)
2	Not Subject to Discretionary			672,205			—			—		672,205		69.961%
	Withdrawal
3	Total (Gross: Direct and Assumed)		$	672,205	$		—	$		288,617	$	960,822	100.000%
4	Reinsurance Ceded			360			—			—		360
5	Total (Net)		$	671,845	$		—	$		288,617	$	960,462
	Amount included in C(1)b above
	that will move to C(1)e in the year
6	after the statement date.		$	—	$		—	$		—	$	—

50

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

December 31, 2018

A. INDIVIDUAL ANNUITIES

							Separate			Separate
				General			Account					Total
	(In Thousands)						with			Account				% of Total
				Account		Guarantees			Nonguaranteed		12/31/2018
1	Subject to Discretionary
	Withdrawal:
	a	With Market Value	$	8,024,252	$		326,391	$		—	$	8,350,643	71.995%
		Adjustment
		At Book Value Less Current
	b	Surrender Charge of 5% or		1,052,278			—			—		1,052,278	9.072%
		More
	c	At Fair Value		—			—			675,896		675,896		5.827%
	d	Total with Adjustment or at		9,076,530			326,391			675,896		10,078,817	86.894%
		Market Value
	e	At Book Value Without
		Adjustment
		(Minimal or no Charge or		1,227,772			—			—		1,227,772	10.585%
		Adjustment)
2	Not Subject to Discretionary			268,068			—			24,345		292,413		2.521%
	Withdrawal
3	Total (Gross: Direct +Assumed)			10,572,370			326,391			700,241		11,599,002	100.000%
4	Reinsurance Ceded			36,258			—			—		36,258
5	Total (Net)		$	10,536,112	$		326,391	$		700,241	$	11,562,744
	Amount included in A(1)b above
	that will move to A(1)e in the year
6	after the statement date.		$	4,275	$		—	$		—	$	4,275

51

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

B. GROUP ANNUITIES

							Separate			Separate
				General			Account					Total
	(In Thousands)						with			Account				% of Total
				Account		Guarantees			Nonguaranteed		12/31/2018
1	Subject to Discretionary
	Withdrawal:
	a	With Market Value	$	—	$		140,925	$		—	$	140,925	1.388%
		Adjustment
		At Book Value Less Current
	b	Surrender Charge of 5% or		1			—			—		1		—%
		More
	c	At Fair Value		—			—			9,717,079		9,717,079		95.696%
	e	Total with Adjustment or at		1			140,925			9,717,079		9,858,005	97.084%
		Market Value
		At Book Value Without
		Adjustment
		(Minimal or no Charge or		40,923			—			—		40,923	0.403%
		Adjustment)
2	Not Subject to Discretionary			255,126			—			—		255,126		2.513%
	Withdrawal
3	Total (Gross: Direct +Assumed)			296,050			140,925			9,717,079		10,154,054	100.000%
4	Reinsurance Ceded			—			—			—		—
5	Total (Net)		$	296,050	$		140,925	$		9,717,079	$	10,154,054
	Amount included in B(1)b above
6	that will move to B(1)e in the		$	—	$		—	$		—	$	—
	year after the statement date.

52

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

C. DEPOSIT-TYPE CONTRACTS

							Separate			Separate
				General			Account					Total
	(In Thousands)						with			Account				% of Total
				Account		Guarantees			Nonguaranteed		12/31/2018
1	Subject to Discretionary
	Withdrawal:
	a	With Market Value	$	—	$		—	$		—	$	—		—%
		Adjustment
		At Book Value Less Current
		Surrender Charge of 5% or		—			—			—		—		—%
	b   More
	c	At Fair Value		—			—			278,290		278,290		36.882%
	d	Total with Adjustment or at		—			—			278,290		278,290	36.882%
		Market Value
	e	At Book Value Without
		Adjustment
		(Minimal or no Charge or		—			—			—		—		—%
		Adjustment)
2	Not Subject to Discretionary			476,260			—			—		476,260		63.118%
	Withdrawal
3	Total (Gross: Direct +Assumed)			476,260			—			278,290		754,550	100.000%
4	Reinsurance Ceded			388			—			—		388
5	Total (Net)		$	475,872	$		—	$		278,290	$	754,162
	Amount included in C(1)b above
6	that will move to C(1)e in the		$	—	$		—	$		—	$	—
	year after the statement date.

12. ANALYSIS OF LIFE ACTUARIAL RESERVES BY WITHDRAWAL CHARACTERISTICS

The amounts of account value, cash value and reserve breakouts of the life insurance by withdrawal characteristics, separately for General Account products, Separate Account with Guarantees products and Separate Account Nonguaranteed products were as follows:

53

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

__________________________________________________________________________________

December 31, 2019					General Account					Separate Account - Guaranteed and
											Nonguaranteed
	(In Thousands)			Account		Cash Value		Reserve	Account Value			Cash Value		Reserve
				Value
	Subject to discretionary withdrawal,
A. surrender values, or policy loans:
	(1)	Term Policies with Cash Value	$	—	$	—	$	—	$	—	$	—	$	—
	(2)	Universal Life		45,937		45,989		47,443		—		—		—
	(3)	Universal Life with Secondary		—		—		—		—		—		—
		Guarantees
	(4)	Indexed Universal Life		—		—		—		—		—		—
	(5)	Indexed Universal Life with		—		—		—		—		—		—
		Secondary Guarantees
	(6)	Indexed Life		—		—		—		—		—		—
	(7)	Other Permanent Cash Value		—		—		—		—		—		—
		Life Insurance
	(8)	Variable Life		16,884		16,884		16,884		43,974		44,596		44,596
	(9)	Variable Universal Life		406,603		414,076		413,560		7,555,852		7,555,852		7,551,874
	(10)	Miscellaneous Reserves		794,871		794,602		796,015		—		—		—
B.	Not subject to discretionary withdrawal or
	not cash values
	(1)	Term Policies with Cash Value		XXX		XXX		282		XXX		XXX		—
	(2)	Accidental Death Benefits		XXX		XXX		1		XXX		XXX		—
	(3)	Disability - Active Lives		XXX		XXX		8		XXX		XXX		—
	(4)	Disability - Disabled Lives		XXX		XXX		467		XXX		XXX		—
	(5)	Miscellaneous Reserves		XXX		XXX		19,403		XXX		XXX		—
C. Total (gross: direct + assumed)				1,264,295		1,271,551		1,294,063		7,599,826		7,600,448		7,596,470
D. Reinsurance Ceded				285,848		287,986		309,869		—		—		—
E.	Total (net) (C)- (D)		$	978,447	$	983,565	$	984,194	$	7,599,826	$	7,600,448	$	7,596,470

54

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

__________________________________________________________________________________

December 31, 2018					General Account					Separate Account - Guaranteed and
											Nonguaranteed
	(In Thousands)			Account		Cash Value		Reserve	Account Value			Cash Value		Reserve
				Value
	Subject to discretionary withdrawal,
A. surrender values, or policy loans:
	(1)	Term Policies with Cash Value	$	—	$	—	$	—	$	—	$	—	$	—
	(2)	Universal Life		48,304		48,361		49,841		—		—		—
	(3)	Universal Life with Secondary		—		—		—		—		—		—
		Guarantees
	(4)	Indexed Universal Life		—		—		—		—		—		—
	(5)	Indexed Universal Life with		—		—		—		—		—		—
		Secondary Guarantees
	(6)	Indexed Life		—		—		—		—		—		—
	(7)	Other Permanent Cash Value		—		—		—		—		—		—
		Life Insurance
	(8)	Variable Life		17,589		17,589		17,589		37,632		37,632		37,632
	(9)	Variable Universal Life		417,685		429,022		432,347		7,343,456		7,343,456		7,338,105
	(10)	Miscellaneous Reserves		826,921		826,267		827,789		—		—		—
B.	Not subject to discretionary withdrawal or
	not cash values
	(1)	Term Policies with Cash Value		XXX		XXX		260		XXX		XXX		—
	(2)	Accidental Death Benefits		XXX		XXX		1		XXX		XXX		—
	(3)	Disability - Active Lives		XXX		XXX		3		XXX		XXX		—
	(4)	Disability - Disabled Lives		XXX		XXX		508		XXX		XXX		—
	(5)	Miscellaneous Reserves		XXX		XXX		22,691		XXX		XXX		—
C. Total (gross: direct + assumed)				1,310,499		1,321,239		1,351,029		7,381,088		7,381,088		7,375,737
D. Reinsurance Ceded				287,165		291,420		313,064		—		—		—
E.	Total (net) (C)- (D)		$	1,023,334	$	1,029,819	$	1,037,965	$	7,381,088	$	7,381,088	$	7,375,737

13. SEPARATE ACCOUNTS

The Company has established insulated Separate Accounts applicable to various classes of contracts providing for variable benefits. Contracts for which funds are invested in insulated variable Separate Accounts include individual and group life and annuity contracts. The assets (securities) in these insulated accounts are carried at fair value and the investment risk associated with such assets is retained by the contract holder. These variable products provide minimum death benefits and, in certain annuity contracts, minimum accumulation income or withdrawal benefits. The minimum guaranteed benefit reserves associated with the insulated Separate Accounts are reported in "Aggregate reserve for the life contracts" in the Company's Statements of Admitted Assets, Liabilities and Capital Stock and Surplus.

The Company has also established non-insulated Separate Accounts for certain contracts that include an MVA feature associated with fixed rates, including for amounts allocated to the fixed portion of certain combination fixed and variable deferred annuity contracts. The assets in the variable deferred annuity Separate Account are carried at fair value. For some MVA contracts, the assets in the fixed deferred annuity Separate Account are carried on a General Account basis. The assets of the non-insulated Separate Account are not legally insulated and can be used by the Company to satisfy claims resulting from the General Account.

55

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The Company earns Separate Account fees for providing administrative services and bearing the mortality and the other guaranteed benefit risks related to variable contracts. Net investment income, capital gains and losses, and changes in mutual fund asset values in variable Separate Accounts are allocated to policyholders and therefore are not reflected in the Company's Statements of Operations for the General Account.

For the current reporting year, the Company reported assets and liabilities from the following products in a Separate Account:

•Variable Life

•Variable Annuity

•MVA Annuity

A majority of the variable Separate Account assets are legally insulated from the Company's General Account, whereas the non-insulated Separate Account assets are not legally insulated. The legal insulation of the Separate Account assets prevents such assets from being generally available to satisfy claims resulting from the General Account. The Separate Account classification of "legally insulated" vs. "not legally insulated" is supported by Section 2932 of the Delaware Insurance Code.

The Company maintained Separate Account assets totaling $20,832.3 million and $21,177.8 million as of December 31, 2019 and 2018, respectively. As of December 31, 2019 and 2018, the Company's Separate Account statements, included legally insulated assets of $20,321.9 million and $20,542.8 million, respectively.

The assets legally insulated and non-legally insulated from the General Account as of December 31, 2019 were attributed to the following products:

Product		Legally Insulated		Not - Legally		Total
		Assets		Insulated Assets
(In Thousands)
Variable Life	$	9,103,259	$	—	$	9,103,259
Variable Annuity		11,218,651		—		11,218,651
MVA Annuity		—		510,398		510,398
Total	$	20,321,910	$	510,398	$	20,832,308

Separate Account liabilities are determined in accordance with prescribed actuarial methodologies, which approximate the fair value of the related assets less applicable surrender charges. The resulting surplus is recorded in the Statements of Operations for the General Account as a component of "Net transfers (from) or to Separate Accounts net of reinsurance." The variable Separate Accounts are non-guaranteed Separate Accounts, wherein the policyholder assumes substantially all the investment risks and rewards. MVA Separate Accounts are guaranteed Separate Accounts, wherein the Company contractually guarantees either a minimum return or account value to the policyholder. In accordance with the guarantees provided, if the investment proceeds are insufficient to cover the rate of return guaranteed for the product, the policyholder proceeds will be remitted by the General Account.

The Company had $18,694.6 million and $18,071.3 million of non-guaranteed Separate Account reserves and $421.2 million and $467.3 million of guaranteed Separate Account reserves as of December 31, 2019 and 2018, respectively.

To compensate the General Account for the risk associated with Separate Account guarantees, risk charges of $171.8 million, $179.3 million, and $206.1 million were received by the General Account from the Separate Accounts during the years ended December 31, 2019, 2018 and 2017, respectively.

56

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

For the years ended December 31, 2019, 2018 and 2017, the Company's General Account paid $69.8 million, $62.9 million, and $84.0 million for Separate Account guarantees, respectively.

The Company does not engage in securities lending transactions within its Separate Account.

An analysis of the Separate Account reserves as of December 31, 2019 is as follows:

(In Thousands)		Nonindexed
		Guarantee	Nonguarantee
		Less than/		Separate
		Equal to 4%		Accounts		Total
Premiums, Considerations or
Deposits for Year Ended 12/31/2019	$	26,357	$	190,962	$	217,319
Reserves at 12/31/2019
For Accounts with Assets at:
Fair Value		156,589		18,694,557		18,851,146
Amortized Cost		264,640		—		264,640
Total Reserves	$	421,229	$	18,694,557	$	19,115,786
By Withdrawal Characteristics:
With Market Value Adjustment	$	421,229	$	—	$	421,229
At Fair Value		—		18,661,478		18,661,478
Subtotal		421,229		18,661,478		19,082,707
Not Subject to Discretionary		—		33,079		33,079
Withdrawal
Total	$	421,229	$	18,694,557	$	19,115,786

57

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

An analysis of the Separate Account reserves as of December 31, 2018 is as follows:

(In Thousands)		Nonindexed
		Guarantee	Nonguaranteed
		Less than/		Separate
		equal to 4%		Accounts		Total
Premiums, Considerations or
Deposits for Year Ended 12/31/2018	$	11,608	$	186,607	$	198,215
Reserves at 12/31/2018
For Accounts with Assets at:
Fair Value		147,437		18,071,347		18,218,784
Amortized Cost		319,879		—		319,879
Total Reserves	$	467,316	$	18,071,347	$	18,538,663
By Withdrawal Characteristics:
With Market Value Adjustment	$	467,316	$	—	$	467,316
At Fair Value		—		18,047,002		18,047,002
Subtotal		467,316		18,047,002		18,514,318
Not Subject to Discretionary		—		24,345		24,345
Withdrawal
Total	$	467,316	$	18,071,347	$	18,538,663

Below is the reconciliation of "Net Transfers (from) or to Separate Accounts net of reinsurance" in the Statements of Operations of the Company:

		Years Ended December 31,
(In Thousands)		2019		2018		2017
Transfers to Separate Accounts	$	217,318	$	198,215	$	152,254
Transfers (from) Separate Accounts		(1,831,011)		(2,468,733)		(2,172,432)
Net Transfers (from) Separate Accounts
net of reinsurance in the Statement of	$	(1,613,693)	$	(2,270,518)	$	(2,020,178)
Operations

14. FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various methods including market, income and cost approaches. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

The Company has categorized its financial instruments into a three-level hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.

58

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Financial assets and liabilities recorded at fair value in the Company's Statutory Statements of Admitted Assets, Liabilities and Capital Stock and Surplus are categorized as follows:

Level 1

•Valuation inputs are unadjusted quoted prices for identical assets or liabilities in an active market.

The types of assets and liabilities utilizing Level 1 valuation inputs generally include cash, cash equivalents, short term investments, U.S. Treasury and agency securities, investments in publicly-traded mutual funds with quoted market prices, and exchange-traded derivatives.

Level 2

•Valuation is based upon quoted prices in markets that are not active or significant inputs that are observable either directly or indirectly.

Level 2 inputs include the following:

•Quoted prices for similar assets or liabilities in active markets,

•Quoted prices for identical or similar assets or liabilities in non-active markets,

•Inputs other than quoted market prices that are observable, and

•Inputs that are derived principally from or corroborated by observable market data through correlation or other means.

The types of assets and liabilities utilizing Level 2 valuations generally include U.S. government securities not backed by the full faith and credit of the U.S. government, municipal bonds, structured notes, certain ABS (including collateralized debt obligations, RMBS and CMBS), certain corporate debt, certain private equity investments, and certain derivatives.

Level 3

•Valuation utilizes techniques that require inputs that are both unobservable and significant to the overall fair value measurement.

These valuations reflect management's opinions regarding the assumptions a market participant would use in pricing the asset or liability. Generally, the types of assets and liabilities utilizing Level 3 valuations are certain ABS, RMBS and CMBS, certain commercial mortgages, certain corporate debt, certain private equity investments, certain mutual fund holdings, and certain derivatives.

59

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The Company's assets and liabilities measured at fair value were classified by these levels as of December 31,

2019 as follows:

(In Thousands)

Description for Each Class of Asset or								Net Asset
		Level 1		Level 2		Level 3		Value		Total
Liability								("NAV")
Assets at Fair Value:
Common Stock - Unaffiliated (a)
Industrial and Miscellaneous	$	—	$	1,654	$	166,214	$	—	$	167,868
Bonds - Unaffiliated (b)										—
Asset-backed Securities		—		—		862		—		862
Industrial and Miscellaneous		—		1		—		—		1
Derivative Assets (d)										—
Interest Rate Contracts		229,582		94,771		—		—		324,353
Equity Contracts		779				—		—		779
Foreign Exchange Contracts		—		982		—		—		982
Separate Accounts Assets (c) (e)		12,672,123		6,338,379		274,378		181,390		19,466,270
Total Assets at Fair Value	$	12,902,484	$	6,435,787	$	441,454	$	181,390	$	19,961,115
Liabilities at Fair Value:
Separate Accounts (c)	$	—	$	—	$	—	$	—	$	—
Derivative Liabilities (d)
Interest Rate Contracts		(104,066)		—		—		—		(104,066)
Equity Contracts		(1,767)		—		—		—		(1,767)
Foreign Exchange Contracts		(1,414)		—		—		—		(1,414)
Total Liabilities at Fair Value	$	(107,247)	$	—	$	—	$	—	$	(107,247)

60

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The Company's assets and liabilities measured at fair value were classified by these levels as of December 31,

2018 as follows:

(In Thousands)

Description for each class of asset or		Level 1		Level 2		Level 3		NAV		Total
liability
Assets at Fair Value:
Common Stock - Unaffiliated (a)
Industrial and Miscellaneous	$	—	$	1,856	$	168,640	$	—	$	170,496
Bonds - Unaffiliated (b)
Asset-backed Securities		—		—		1,068		—		1,068
Derivative Assets (d)										—
Interest Rate Contracts		45,885		21,247		—		—		67,132
Equity Contracts		93		147,679		—		—		147,772
Foreign Exchange Contracts		—		25,684		—		—		25,684
Separate Accounts Assets (c) (e)		12,356,549		5,656,089		323,517		179,611		18,515,766
Total Assets at Fair Value	$	12,402,527	$	5,852,555	$	493,225	$	179,611	$	18,927,918
Liabilities at Fair Value:
Separate Accounts (c) (e)	$	—	$	(28,142)	$	—	$	—		(28,142)
Derivative Liabilities (d)
Interest Rate Contracts		(23,242)		(30,029)		—		—		(53,271)
Equity Contracts		(10,227)		—		—		—		(10,227)
Foreign Exchange Contracts		(1,622)		—		—		—		(1,622)
Total Liabilities at Fair Value	$	(35,091)	$	(58,171)	$	—	$	—	$	(93,262)

(a)Common stocks are carried at fair value.

(b)Bonds with NAIC designations of 6 are carried at the lower of amortized cost or fair value. Where fair value is less than amortized cost, amounts are included in the tables above.

(c)Separate Account invested assets are typically carried at fair value. In instances where market risk is guaranteed by the Company, bonds and preferred stocks are carried at amortized cost based on their respective NAIC designation. Separate Account assets also include $948.2 million and $2,233.1 million of investment income and receivables due at December 31, 2019 and 2018, respectively. Separate Account liabilities include derivative liabilities carried at fair value.

(d)The derivatives included in the leveling descriptions are carried at fair value.

(e)Includes assets with a fair value of $181.4 million and $179.6 million at December 31, 2019 and 2018 respectively, in hedge funds, private equities and other alternative investments for which fair value is measured at NAV using the practical expedient. These investments are not quoted on a securities exchange or in the over the counter market. As of December 31, 2019 or 2018, there were no unfunded commitments. The investments have liquidity restrictions consisting of notice periods (typically 60 days), redemption schedules (typically quarterly) and hold backs (typically 3% of the investment is held back until the next annual audit is completed).

61

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The redemption period may be extended if there is a delay in liquidating underlying holdings within an investment. The investments are within the policyholders separate accounts so any fluctuation in NAV will result in a corresponding change in the policyholder reserve liability and therefore will have no impact on income.

None of the Company's assets measured at fair value transferred between Levels 1 and 2 during the years ended December 31, 2019 and December 31, 2018.

The following table is a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value which were categorized as Level 3 for the year ended December 31, 2019:

							Total Gains			Total
	Beginning				Transfers			and	Gains and											Ending
				Transfers				(Losses)		(Losses)
(In Thousands)	Balance at					Out of	Included in		Included in		Purchases		Issuances			Sales	Settlements		Balance at
	01/01/2019		Into Level 3			Level 3	Net Income			Surplus									12/31/2019
Assets:
Common Stock	$	168,640	$	—	$	(19,948)	$	3,601	$	15,451	$	101,376	$	—	$	(72,445)	$	(30,461)	$	166,214
Unaffiliated
Bonds - Unaffiliated:
Asset-backed		1,068		—		—		—		(206)		—		—		—		—		862
Securities
Separate Accounts		323,517		951		(261,568)		(127)		14,380		377,709		—		(145,390)		(35,094)		274,378
Assets
Total Assets	$	493,225	$	951	$	(281,516)	$	3,474	$	29,625	$	479,085	$	—	$	(217,835)	$	(65,555)	$	441,454

The following table is a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value which were categorized as Level 3 for the year ended December 31, 2018:

							Total Gains			Total
	Beginning				Transfers			and	Gains and											Ending
				Transfers				(Losses)		(Losses)
(In Thousands)	Balance at					Out of	Included in		Included in		Purchases		Issuances			Sales	Settlements		Balance at
	01/01/2018		Into Level 3			Level 3	Net Income			Surplus									12/31/2018
Assets:
Common Stock	$	125,472	$	—	$	—	$	—	$	(13,956)	$	70,470	$	—	$	(13,308)	$	(38)	$	168,640
Unaffiliated
Bonds -
Unaffiliated:
Asset-backed		1,118		—		—		—		(50)		—		—		—		—		1,068
Securities
Separate Accounts		653,171		27,077		(409,933)		236		(19,364)		117,200		16		(19,163)		(25,723)		323,517
Assets
Total Assets	$	779,761	$	27,077	$	(409,933)	$	236	$	(33,370)	$	187,670	$	16	$	(32,471)	$	(25,761)	$	493,225

The Company transfers assets into or out of Level 3 at fair value as of the beginning of the reporting period. Transfers are made as a result of changes in the level of observability of inputs used to price the assets or changes in NAIC designations.

62

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The table below presents the balances of Level 3 assets measured at fair value with their corresponding pricing sources as of December 31, 2019:

	Valuation	Significant				Weighted
		Unobservable	Fair Value		Range
	Techniques	Inputs				Average
(In Thousands)
Bonds - Unaffiliated
Asset-backed Securities	Matrix Pricing	Spreads	$	862	21	21
Common Stocks	Matrix Pricing	Spreads		166,214	1-249	60
Separate Accounts Assets	Matrix Pricing	Spreads		18,123	46-112	103
	Market Pricing	Quoted Prices		1,014	101	101
	Matrix Pricing	Spreads		232,897	1-100	94
	Market Pricing	Quoted Prices		21,808	100-101	100
Total Assets			$	440,918

The table below presents the balances of Level 3 assets measured at fair value with their corresponding pricing sources as of December 31, 2018:

	Valuation	Significant				Weighted
		Unobservable		Fair Value	Range
	Techniques	Inputs				Average
(In Thousands)
Bonds - Unaffiliated
Asset-backed securities	Matrix Pricing	Spreads	$	1,068	25	25
Common Stocks	Market Pricing	Spreads		168,640	1-216	46
Separate Accounts assets	Market Pricing	Spreads		228,664	1-100	92
	Matrix Pricing	Spreads		7,359	94-103	100
	Market Pricing	Quoted Prices		20,156	40-106	100
	Market Pricing	Quoted Prices		34,492	91-104	98
Total assets			$	460,379

There were no significant changes made in valuation techniques during 2019 and 2018.

Derivative values in the above tables are presented on a gross basis.

63

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Aggregate Fair Value of all Financial Instruments

The following table presents the estimated fair values and carrying amounts of the Company's financial instruments as of December 31, 2019:

(In Thousands)

											Not
		Aggregate	Statement							Practicable
Type of Financial Instrument					Level 1	Level 2		Level 3	NAV		(Carrying
		Fair Value	Value								Value)
Cash, Cash Equivalents and
Short-term Investments	$ 1,480,738		$ 1,480,742	$	744,699	$ 736,039	$	— $	—	$	—
Bonds	11,054,022		10,918,153		517,928	10,020,471		515,623	—		—
Preferred Stocks	774,903		769,767		—	394,415		380,488	—		—
Common Stocks	167,867		167,867		—	1,654		166,213	—		—
Mortgages Loans on Real Estate	612,899		606,383		—	—		612,899	—		—
Derivatives – Options and Swaptions	55		55		—	55		—			—
Derivatives – Swaps and Forwards	315,265		334,861		219,567	95,698		—	—		—
Derivatives - Futures	785		785		785	—		—	—		—
Contract Loans	470,431		400,939		—	—		470,431	—		—
Other Invested Assets (a)	542,208		544,323		—	7,028		474,967	60,213		—
Separate Account Assets	19,899,455		19,884,097		12,737,725	6,689,797		290,543	181,390		—
Contractholder Deposit Funds and	(736,725)		(671,845)		—	—		(736,725)	—		—
Other Policyholder Liabilities
Derivatives – Swaps and Forwards	(122,497)		(114,761)		(104,065)	(18,432)		—	—		—
Derivatives - Futures	(3,181)		(3,181)		(3,181)	—		—	—		—
Separate Account Liabilities	(288,617)		(288,617)		—	—		(288,617)	—		—

64

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The following table presents the estimated fair value and carrying amounts of the Company's financial instruments as of December 31, 2018:

(In Thousands)

										Not
		Aggregate	Statement							Practicable
Type of Financial Instrument					Level 1	Level 2		Level 3	NAV	(Carrying
		Fair Value	Value							Value)
Cash, Cash Equivalents and
Short-term Investments	$ 982,420		$ 982,422	$	261,757	$ 720,663	$	—	—	—
Bonds	10,147,570		10,497,705		255,301	8,810,613		1,081,656	—	—
Preferred Stocks	569,036		566,677		—	459,536		109,500	—	—
Common Stocks	170,496		170,496		—	1,856		168,640	—	—
Mortgages Loans on Real Estate	556,226		544,207		—	—		556,226	—	—
Derivatives – Options and Swaptions	148,542		148,542		—	148,542		—	—	—
Derivatives – Swaps and Forwards	95,083		101,890		49,015	46,068		—	—	—
Derivatives - Futures	93		93		93	—		—	—	—
Contract Loans	418,546		405,685		—	—		418,546	—	—
Other Invested Assets (a)	378,388		399,350		—	6		272,592	105,790	—
Separate Account Assets	18,912,208		18,944,772		12,363,762	6,005,960		362,875	179,611	—
Contractholder Deposit Funds and	(490,792)		(475,872)		—	—		(490,792)	—	—
Other Policyholder Liabilities
Derivatives – Swaps and Forwards	(68,674)		(65,470)		(23,242)	(45,431)		—	—	—
Derivatives - Futures	(11,849)		(11,849)		(11,849)	—		—	—	—
Separate Account Liabilities	(306,432)		(306,432)		—	(28,142)		(278,290)	—	—

(a)- Other invested assets include assets with a fair value of $60.2 million and $105.8 million at December 31, 2019 and 2018, respectively, in limited partnership investments as they are valued using equity values which are a proxy for fair value. As of December 31, 2019 and 2018, there were $126.1 million and $112.9 million of unfunded commitments for limited partnership investments, respectively.The investments have liquidity restrictions consisting of either general partner approval or no ability for early redemption.

The methods and assumptions that the Company uses in determining the estimated fair value of its financial instruments are summarized below:

Cash, cash equivalents, and short-term investments - The carrying value for cash, cash equivalents, and short- term investments approximates fair value due to the short-term nature and liquidity of the balances.

Bonds - The Company determines the fair value of its publicly-traded fixed maturity securities using three primary pricing methods: third-party pricing services, non-binding broker quotes, and pricing models. Prices are first sought from third-party pricing services, with the remaining unpriced securities priced using one of the other two methods. Third-party pricing services derive the security prices through recently reported trades for identical or similar securities with adjustments for trading volumes and market observable information through the reporting date. In the event that there are no recent market trades, pricing services and brokers may use pricing models to develop a security price based on future expected cash flows discounted at an estimated market rate using collateral performance and vintages. The Company generally does not adjust quotes or prices obtained from brokers or pricing services.

65

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Structured securities, such as ABS, RMBS and CMBS, are priced using third-party pricing services, a fair value model, or independent broker quotations. Typical inputs used by these three pricing methods include, but are not limited to, reported trades, benchmark yields, issuer spreads, bids and/or estimated cash flows and prepayment speeds. In addition, estimates of expected future prepayments are factors in determining the price of ABS, RMBS and CMBS. These estimates are based on the underlying collateral and structure of the security, as well as prepayment speeds previously experienced in the market at interest rate levels projected for the underlying collateral. Actual prepayment experience may vary from these estimates.

For privately-placed fixed maturity securities, fair values are estimated using model prices or broker quotes. A portion of privately-placed fixed maturity securities (typically SEC Rule 144A securities) are priced using market prices. Also, a small subset of privately-placed fixed maturity securities are priced using matrix applications which take into account credit spreads for a variety of public and private securities of similar credit risk, maturity, prepayment and liquidity characteristics.

The Company's ability to liquidate positions in privately-placed fixed securities and mortgages could be impacted to a significant degree by the lack of an actively-traded market. Although the Company believes that its estimates reasonably reflect the fair value of those instruments, its key assumptions about risk-free interest rates, risk premiums, performance of underlying collateral (if any), and other factors may not reflect those of an active market.

Equity securities - The fair value of the Company's equity securities not accounted for under the equity method is first based on quoted market prices. Similar to fixed maturity securities, the Company uses pricing services and broker quotes to price equity securities for which a quoted market price is not available.

Mortgage loans on real estate - The fair value of mortgage loans is estimated by discounting future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.

Derivatives - The fair values of swaps, swaptions, and forwards are based on current settlement values, dealer quotes, and market prices. Fair values for options and futures are also based on dealer quotes and market prices.

Contract loans - The fair value of policy loans is determined by estimating future policy loan cash flows and discounting the cash flows at a current market interest rate.

Other invested assets - Other invested assets (excluding investments accounted for under the equity method) include low income housing tax credits ("LIHTCs"), surplus debentures, collateral loans, and equipment lease trusts. The fair value of LIHTCs and equipment leases approximate their carrying values. The fair values of surplus debentures are obtained from third-party pricing services. Collateral loans are carried at amortized cost using pricing methods similar to private placements.

Separate Accounts - The estimated fair value of Separate Account assets and liabilities is determined using the same methodology described in Note 13. The difference between Separate Account assets and liabilities reflected in the chart above and the total recognized in the Statements of Admitted Assets, Liabilities and Capital and Surplus represents amounts that are attributable to non-financial instruments.

Contract holder deposit funds - The fair values of the Company's General Account liabilities under investment- type contracts (insurance and annuity contracts that do not involve mortality or morbidity risks) is estimated using discounted cash flow analyses or surrender values. Those contracts that are deemed to have short-term guarantees have a carrying amount equal to their estimated fair value.

66

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

15. FEDERAL INCOME TAXES

The application of SSAP No.101, "Income Taxes," requires a company to evaluate the recoverability of DTAs and, if necessary, to establish a valuation allowance to reduce the DTA to an amount which is more likely than not to be realized.

Considerable judgment is required in determining whether a valuation allowance is necessary and, if so, the amount of such valuation allowance. Although the realization is not assured, management believes it is more likely than not that DTAs will be realized. Therefore, the Company did not record a valuation allowance as of December 31, 2019 and December 31, 2018.

The components of the Company's DTAs and DTLs as of December 31, 2019 and December 31, 2018 were as follows:

(In Thousands)		December 31, 2019						December 31, 2018								Change
Description		Ordinary		Capital		Total		Ordinary		Capital		Total		Ordinary		Capital		Total
Gross Deferred Tax	$	162,404	$	55,355	$	217,759	$	172,389	$	—	$	172,389	$	(9,985)	$	55,355	$	45,370
Assets
Statutory Valuation		—		—		—		—		—		—		—		—		—
Allowance Adjustments
Adjusted Gross		162,404		55,355		217,759		172,389		—		172,389		(9,985)		55,355		45,370
Deferred Tax Assets
Deferred Tax Assets		—		—		—		10,997		—		10,997		(10,997)		—		(10,997)
Nonadmitted
Subtotal Net Admitted		162,404		55,355		217,759		161,392		—		161,392		1,012		55,355		56,367
Deferred Tax Assets
Deferred Tax Liabilities		112,773		25,517		138,290		78,127		—		78,127		34,646		25,517		60,163
Net Admitted Deferred
Tax Assets / (Net	$	49,631	$	29,838	$	79,469	$	83,265	$	—	$	83,265	$	(33,634)	$	29,838	$	(3,796)
Deferred Tax Liabilities)

67

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The following table provides component amounts of the Company's calculation by tax character in accordance with paragraphs 11.a, 11.b.i, 11.b.ii and 11.c of SSAP No. 101:

(In Thousands)		December 31, 2019				December 31, 2018				Change
Description	Ordinary		Capital	Total	Ordinary		Capital	Total	Ordinary	Capital	Total

Admission Calculation Components SSAP No. 101

(a)Federal Income Taxes Paid in Prior Years Recoverable Through

Loss Carrybacks	$	— $	—	$		—	$		— $	—	$		—	$		— $	—	$		—
(b) Adjusted Gross
Deferred Tax Assets
Expected to Be Realized
(Excluding the amount of
Deferred Tax Assets
From 2(a) above) After
Application of the
Threshold Limitation.
(The Lesser of 2(b)1 and		57,163	30,719			87,882			83,265	—			83,265			(26,102)	30,719			4,617
2(b)2 Below)
1. Adjusted Gross
Deferred Tax Assets
Expected to be Realized
Following the Balance
Sheet Date.		57,163	30,719			87,882			83,265	—			83,265			(26,102)	30,719			4,617
2. Adjusted Gross
Deferred Tax Assets
Allowed per Limitation
Threshold.		XXX	XXX			225,506			XXX	XXX			214,328			XXX	XXX			11,178
(c) Adjusted Gross
Deferred Tax Assets
(Excluding the Amount
Of Deferred Tax Assets
From 2(a) and 2(b)
above) Offset by Gross		105,241	24,636			129,877			78,127	—			78,127			27,114	24,636			51,750
Deferred Tax Liabilities.
(d) Deferred Tax Assets
Admitted as the result of
application of SSAP No.
101.	$	162,404	55,355		$	217,759		$	161,392	—		$	161,392		$	1,012	55,355		$	56,367
Total (2(a) + 2(b) + 2(c))
													2019				2018
Ratio Percentage Used To Determine Recovery Period And Threshold													994%				923%
Limitation Amount
Amount Of Adjusted Capital And Surplus Used To Determine Recovery													$1,503,375				$1,472,020
Period And Threshold Limitation Above (In Thousands)

68

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The following table provides the impact of tax planning strategies on adjusted gross and net admitted DTAs, as used in the Company's SSAP No. 101 calculation.

		December 31, 2019				December 31, 2018				Change
(In Thousands)
Description		Ordinary		Capital		Ordinary		Capital		Ordinary	Capital
Impact of Tax Planning Strategies
Determination of Adjusted Gross
Deferred Tax Assets and Net
Admitted Deferred Tax Assets, by
Tax Character as a Percentage.
Adjusted Gross Deferred Tax	$	162,404	55,355		$	172,389		—	$	(9,985)	55,355
Assets
Percentage of Adjusted Gross
Deferred Tax Assets by Tax
Character Attributable to the		0.00%	0.00%			0.00%	0.00%			0.00 %	0.00%
Impact of Tax Planning Strategies
Net Admitted Adjusted Gross	$	162,404	55,355		$	161,392		—	$	1,012	55,355
Deferred Tax Assets
Percentage of Net Admitted
Adjusted Gross Deferred Tax
Assets by Tax Character Because
of the Impact of Tax Planning		0.00%	0.00%			26.06%	0.00%			(26.06)%	0.00%
Strategies

The Company's tax planning strategies do not include the use of reinsurance.

The Company had no temporary difference for which a DTL was not established.

The following tables provide the Company's main components of income taxes incurred and the changes in DTAs and DTLs.

(In Thousands)	December 31,			December 31,		December 31,
		2019		2018		2017
Current Income Tax
Federal Tax (Benefit) Expense from Operations	$	(21,279)	$	(3,553)	$	(65,461)
Federal Income Tax Expense on Net Capital Gains		10,362		—		8,105
Current Income Tax (Benefit) Expense	$	(10,917)	$	(3,553)	$	(57,356)

69

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The main components of the Company's DTAs and DTLs as of December 31, 2019 and 2018 were as follows:

(In Thousands)		December 31,		December 31,		Change
		2019		2018
Deferred Tax Assets:
Ordinary
Policyholder Reserves	$	89,538	$	97,382	$	(7,844)
Investments		2,389		23,255		(20,866)
Deferred Acquisition Costs		28,246		22,997		5,249
Fixed assets		1,018		—		1,018
Compensation and benefits accrual		1,581		—		1,581
Receivables-nonadmitted		4,172		—		4,172
Net Operating Loss carry-forward		—		—		—
Tax credit carry-forward		33,288		—		33,288
Other (Including Items <5% of Total Ordinary Tax Assets)		2,172		28,755		(26,583)
Total Ordinary Deferred Tax Assets	$	162,404	$	172,389	$	(9,985)
Statutory Valuation Allowance Adjustment		—		—		—
Nonadmitted		—		10,997		(10,997)
Admitted Ordinary Deferred Tax Assets	$	162,404	$	161,392	$	1,012
Capital:
Investments		55,355		—		55,355
Net Capital Loss Carry forward		—		—		—
Subtotal		55,355		—		55,355
Statutory Valuation Allowance Adjustment		—		—		—
Nonadmitted		—		—		—
Admitted Capital Deferred Tax Assets		55,355		—		55,355
Admitted Deferred Tax Assets	$	217,759	$	161,392	$	56,367
Deferred Tax Liabilities:
Ordinary
Investments	$	61,445	$	26,602	$	34,843
Policyholder Reserves		51,328		51,525		(197)
Subtotal	$	112,773	$	78,127	$	34,646
Capital:
Investments		25,517		—		25,517
Subtotal		25,517		—		25,517
Deferred Tax Liabilities	$	138,290	$	78,127	$	60,163
Net Admitted Deferred Tax Assets / Deferred Tax Liabilities	$	79,469	$	83,265	$	(3,796)

70

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The change in net deferred income taxes was comprised of the following:

(In Thousands)
Description		December 31, 2019			December 31, 2018			Change
Total Deferred Tax Assets	$		217,759	$		172,389	$	45,370
Total Deferred Tax Liabilities			138,290			78,127		60,163
Net Deferred Tax Assets / Deferred Tax Liabilities	$		79,469	$		94,262	$	(14,793)
Statutory Valuation Allowance			—			—		—
Net Deferred Tax Assets / Deferred Tax Liabilities	$		79,469	$		94,262	$	(14,793)
Tax Effect of Unrealized (Gains)/Losses								41,549
Change in Net Deferred Income Tax							$	(56,342)

The provision for federal income taxes incurred for the current year is different from that which would be obtained by applying the statutory federal income tax rate to income before income taxes. The significant items causing this difference for the years ended December 31, 2019, 2018 and 2017 were as follows:

(In Thousands)		December 31, 2019							December 31, 2018							December 31, 2017
					Tax		Effective				Tax Effect			Effective					Tax		Effective
Description		Amount		Effect @					Amount							Amount		Effect @
					21%		Tax Rate					@ 21%		Tax Rate					35%		Tax Rate
Net Income Before Taxes	$	244,594	$		51,365	17.5 %		$	205,802	$		43,218	41.5 %		$	191,923	$		67,173	28.9 %
Pre-tax Capital Gains - Pre		49,342			10,362	3.5 %			(101,765)			(21,370)	(20.5)%			40,259			14,091	6.1 %
IMR
Dividends Received					(3,970)	(1.4)%						(16,026)	(15.4)%						(25,309)	(10.9)%
Deduction
Exhibit 5a adjustment					(1,352)	(0.5)%						—		— %					—		— %
Non-deductible Expenses					—		— %					60	0.1 %						61		— %
Reversal of IMR					(1,670)	(0.6)%						(3,179)	(3.1)%						(8,981)	(3.9)%
Change in Non-admitted					(10,236)	(3.5)%						(2,576)	(2.5)%						881	0.4 %
assets
Prior Year Over/Under					(492)	(0.2)%						2,083	2.0 %						(8,058)	(3.5)%
Accrual
Tax Credit Adjustment					(15,369)	(5.2)%						—		— %					83,440	35.9 %
Tax Differences in Wholly					16,694	5.7 %						(32,785)	(31.5)%						(91,695)	(39.5)%
Owned Subsidiaries
Other					93		0.2 %					5		— %					117		0.2 %
Total Statutory Income Taxes			$		45,425	15.5 %				$		(30,570)	(29.4)%				$		31,720	13.7 %
Federal Income Taxes
			$		(10,917)	(3.7)%				$		(3,553)	(3.4)%				$		(57,356)	(24.7)%
Incurred
Change in Net Deferred					56,342		19.2 %					(27,017)		(26.0)%					89,076		38.4 %
Income Taxes
Total Statutory Income Taxes			$		45,425	15.5 %				$		(30,570)	(29.4)%				$		31,720	13.7 %

At December 31, 2019, the Company had no net operating loss or capital loss carry forwards. At December 31, 2019, the Company had $19.5 million of foreign tax credit carry forward, which will begin to expire, if not utilized, in 2020. At December 31, 2019, the Company had $13.8 million of general business credit carry forwards, which will begin to expire, if not utilized, in 2029.

71

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

As of December 31, 2019, the Company had no capital income tax expense in the preceding years that will be available for recoupment in the event of future losses.

The Company has no deposits admitted under Section 6603 of the Internal Revenue code.

The Tax Cuts and Jobs Act ("the Act") repealed the corporate Alternative Minimum Tax (and its related credit) for tax years beginning after December 31, 2017. To the extent the Company possesses an AMT credit carryover as of that date, the Company is generally permitted to utilize the credit to the extent of the Company's regular tax liability for the year. In addition, for tax years 2018, 2019, and 2020, to the extent the Company's AMT credit carryover exceeds the Company's regular tax liability, 50% of the excess AMT credit carryover is refundable. Any remaining AMT credit carryover becomes completely refundable in 2021.

Below is a summary of the Company's 2019 activity related to its AMT credit carryover:

(In Thousands)

(1)Gross AMT Credit Recognized as:

	a. Current year recoverable	$	1,683
	b. Deferred tax asset (DTA)		—
(2)	Beginning Balance of AMT Credit Carry forward		1,683
(3)	Amounts Recovered		—
(4)	Adjustments		—
(5)	Ending Balance of AMT Credit Carry forward (5=2-3-4)		1,683
(6)	Reduction for Sequestration		—
(7)	Nonadmitted by Reporting Entity		—
(8)	Reporting Entity Balance (8=5-6-7)	$	1,683

Tax years prior to 2016 are closed for audit or examination under the applicable statute of limitations. On August 8, 2017 the Internal Revenue Service ( the "IRS") held open conference for tax years 2014 and 2015. The audit was closed in 2019 with no material changes. The Company does not believe it has any uncertain tax positions for its federal income tax return that would be material to its financial condition, results of operations, or cash flows. Therefore, the Company did not record a liability for unrecognized tax benefits ("UTBs") as of December 31, 2019 and 2018. As of December 31, 2019, there were no positions for which management believes it is reasonably possible that the total amounts of tax contingencies will significantly increase within 12 months of the reporting date.

The Company recognizes interest accrued related to UTBs in income tax expense. The Company had no accrued interest balance as of December 31, 2019 and December 31, 2018. The Company recognized no gross interest benefit related to UTBs during the years ended December 31, 2019, 2018 and 2017. The Company has not accrued any penalties related to UTBs.

The Company will file a consolidated federal income tax return for the December 31, 2019 tax year with its wholly- owned subsidiary, DLNY, and will continue to do so in future tax years under Internal Revenue Code Section 1504 (c)(1). A formal tax allocation agreement has been implemented, and the allocation is based upon separate return calculations with current credit (benefit) given for losses and tax attributes that are utilized by the consolidated group. Intercompany tax balances are settled on a quarterly basis and a final true up is made after the filing of the federal income tax return, as prescribed by the terms of the agreement.

72

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

16.CAPITAL STOCK AND SURPLUS AND DIVIDEND RESTRICTIONS

The Company is authorized to issue 10,000 shares of common stock with a par value of $1,000 per share; 6,437 shares of common stock are issued and outstanding. The Company is not authorized to issue preferred stock.

The Company's ability to pay dividends is subject to certain statutory restrictions. The State of Delaware has enacted laws governing the payment of dividends to stockholders by domestic insurers. Pursuant to Delaware's statute, the maximum amount of dividends and other distributions that a domestic insurer may pay in any twelve- month period without the prior approval of the Delaware Commissioner of Insurance is limited to the greater of:

(i) 10% of its statutory surplus as of the preceding December 31; or (ii) the Company's statutory net gain from operations for the preceding calendar year. Any dividends to be paid by an insurer, whether or not in excess of the aforementioned threshold, from a source other than statutory surplus would also require the prior approval of the Commissioner. In connection with the Sale Transaction on August 2, 2013, any portion of a dividend which would cause the Company's total adjusted capital as of the most recent calendar quarter end to fall below 300% of Company Action Level NAIC Risk-Based Capital as of such calendar quarter end, after taking into account the payment of such dividend, requires the prior approval of the Department.

In April 2019, April 2018, October 2017 and April 2017, the Company paid an ordinary dividend $200.0 million, $157.4 million, $100.0 million and $135.4 million, respectively, to the Parent. In October 2019, the Parent contributed $16.9 million to the Company in the form of an other invested asset which was nonadmitted at December 31, 2019. The Company received a capital contribution from the Parent during the first quarter of 2020 in the amount of $100.0 million, as described in Note 21.

The portion of unassigned funds (surplus) represented or reduced by cumulative unrealized gains/losses, excluding deferred taxes, was approximately $560.0 million and $256.0 million at December 31, 2019 and 2018, respectively.

Risk-Based Capital

Life and health insurance companies are subject to certain Risk-Based Capital ("RBC") requirements as specified by the NAIC. The RBC requirements provide a method for measuring the minimum acceptable amount of adjusted capital that a life insurer should have, as determined under statutory accounting principles, taking into account the risk characteristics of its investments and products. The Company exceeded the minimum RBC requirements at December 31, 2019 and 2018.

17.COMMITMENTS AND CONTINGENT LIABILITIES Contingent Commitments

The Company had unfunded commitments for limited partnership investments of $128.0 million and $112.9 million as of December 31, 2019 and December 31, 2018, respectively.

In December 2018, the Company committed to pay $19.4 million of capital contributions to CSHH which were paid in the first quarter of 2019 and were included in the amounts disclosed in Note 2.

Regulatory and Industry Developments

Under insurance guaranty fund laws in each state, the District of Columbia and Puerto Rico, insurers licensed to do business can be assessed by state insurance guaranty associations for certain obligations of insolvent insurance companies to policyholders and claimants. Most of these laws provide, however, that an assessment may be excused or deferred if it would threaten an insurer's solvency and further provide annual limits on such assessments. Part of the assessments paid by the Company pursuant to these laws may be used as credits for a portion of the associated premium taxes.

73

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Various insolvencies reported by the National Organization of Life and Health Insurance Guaranty Associations will result in retrospective, premium-based guaranty fund assessments against the Company. Based on the best information available, the Company has recorded an accrued liability of $3.1 million and $3.2 million for guaranty fund assessments as of December 31, 2019 and 2018, respectively. The Company does not know the period over which the guaranty fund assessments may be paid.

As of December 31, 2019 and 2018, the Company did not have any guaranty fund liabilities or assets related to assessments from insolvencies of entities that wrote long-term care contracts.

The Company has not established any asset for premium tax credits or policy surcharges as their recoveries are not estimable.

Litigation and Other Matters

The Company is not aware of any contingent liabilities arising from litigation or other matters that could have a material effect upon the financial condition, results of operations, or cash flows of the Company.

Indemnities

In the normal course of its business, the Company has entered into agreements that include indemnities in favor of third parties, such as contracts with advisors and consultants, outsourcing agreements, underwriting and agency agreements, information technology agreements, distribution agreements, and service agreements. The Company has also agreed to indemnify its directors, officers and employees in accordance with the Company's by-laws. The Company believes any potential liability under these agreements is neither probable nor estimable. Therefore, the Company has not recorded any associated liability.

Pursuant to the terms of the Sale Transaction, the acquired companies, including the Company and DLNY, and their respective affiliates are indemnified from and against (i) breach of customary representations, warranties and covenants of SLF and (ii) other specified matters, including losses arising from pending or threatened litigation as of the closing of the Sale Transaction (August 2, 2013), certain excluded assets that were transferred from the acquired companies to SLF's affiliates at or prior to closing of the Sale Transaction, including the group insurance business previously conducted by DLNY, certain environmental liabilities, and certain liabilities arising under unclaimed property laws.

Pledged or Restricted Assets

The following assets were restricted at December 31, 2019 and reported in the current financial statements:

•Collateral posted under repurchase agreements which was reported as bonds and preferred stocks.

•Cash collateral posted under reverse repurchase agreements which was reported as cash equivalents.

•Certain FHLB capital stock.

•Certain bonds on deposit with governmental authorities as required by law.

•Certain cash deposits held in a mortgage escrow account (see "Other restricted assets" below).

•Derivative cash collateral which was reported as cash equivalents (see "Assets pledged as collateral not captured in other categories" below).

•Certain cash collateral for brokerage margin.

•Cash held in a tax escrow account.

74

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

The following were restricted assets (including pledged assets):

(In Thousands)
					Current Year														Percentage
						Total										Total		Total		Admitted
		Total		G/A	Separate		S/A Assets												Gross
					Account							Total				Current		Current		Restricted
Restricted Asset		General	Supporting			(S/A)	Supporting						Increase/		Year Non			Year	Restricted	to Total
		Account		S/A	Restricted			G/A		Total		From			Admitted		Admitted		Total	Admitted
Category		(G/A)		Activity		Assets		Activity			Prior Year		(Decrease)		Restricted		Restricted		Assets	Assets
Subject to
Repurchase	$	25,000	$	—	$	—	$	—	$	25,000	$	25,000	$	—	$	—	$	25,000	0.07%	0.07%
Agreements
Subject to Reverse
Repurchase		340,789		—		—		—		340,789		347,813		(7,024)		—		340,789	0.9%	0.9%
Agreements
FHLB Capital Stock		30,690		—		—		—		30,690		16,425		14,265		—		30,690	0.08%	0.08%
On Deposit with		5,214		—		—		—		5,214		5,193		21		—		5,214	0.01%	0.01%
States
Pledged as Collateral
to FHLB (Including
Securities and
Commercial		610,287		—		—		—		610,287		603,517		6,770		—		610,287	1.61%	1.61%
Mortgage Loans)
Other Restricted		52,817		—		—		—		52,817		139,833		(87,016)		—		52,817	0.14%	0.14%
Assets
Total Restricted	$	1,064,797	$	—	$	—	$	—	$	1,064,797	$1,137,781		$	(72,984)	$	—	$	1,064,797	2.81%	2.81%
Assets

The following were other restricted assets pledged as collateral in other categories (contracts that share similar characteristics, such as reinsurance and derivatives, are reported in the aggregate):

						Gross Restricted
(In Thousands)					Current Year												Percentage
						Total										Total		Admitted
		Total		G/A	Separate		S/A Assets										Gross
					Account							Total				Current		Restricted
Description of		General	Supporting			(S/A)	Supporting						Increase/			Year	Restricted	to Total
	Account			S/A	Restricted			G/A		Total		From			Admitted		Total	Admitted
Assets		(G/A)		Activity		Assets		Activity			Prior Year		(Decrease)		Restricted		Assets	Assets
Mortgage Escrow	$	2,827	$	—	$	—	$	—	$	2,827	$	3,430	$	(603)	$	2,827	0.01%	0.01%
Restricted Cash - Tax		—		—		—		—		—		11,280		(11,280)		—
Escrow																	—	—
Restricted Cash -		49,990		—		—		—		49,990		125,123		(75,133)		49,990	0.13%	0.13%
Derivative Collateral
Total	$	52,817	$	—	$	—	$	—	$	52,817	$	139,833	$	(87,016)	$	52,817	0.14%	0.14%

Lease Commitments

Effective September 24, 2014, the Company entered into a lease agreement for its Waltham, Massachusetts office. On February 19, 2016, the original lease agreement was amended to add additional space. The lease, as amended, expires on April 30, 2023. Rental expenses for 2019, 2018 and 2017 were $2.4 million, $2.4 million, and $2.3 million, respectively, under this lease.

75

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Effective January 22, 2014, the Company entered into a lease agreement for its Indianapolis, Indiana office. This lease expires on December 31, 2024. Rental expenses for 2019, 2018 and 2017 were $0.2 million under this lease.

Effective July 27, 2016, the Company entered into a sublease agreement for additional space for its Indianapolis office, with this sublease expiring on November 30, 2026. Rental expenses for 2019, 2018 and 2017 were $0.4 million under this sublease.

Effective February 26, 2016, the Company entered into a sublease agreement for a Chicago, Illinois office which expired July 29, 2018. The Company entered into a new sublease effective August 1, 2018 which expired on August 31, 2019. Effective September 1, 2019 , the Company entered into a thirteen-month lease agreement that expires on September 30, 2020. Rental expenses for 2019, 2018 and 2017 were $0.3 million under this sublease. A portion of these rental expenses are reimbursed by CSP&C.

Effective December 20, 2018, the Company entered into a lease agreement for a Chicago office that expires on May 31, 2025. Rental expense for 2019 was $83.0 thousand. Rental expense for 2018 was $0 due to the abatement of the first five months of rent. Effective January 2020, the Company entered into a lease agreement for additional space in this Chicago office that also expires on May 31, 2025. The rental expenses are reimbursed by CSHMS.

Effective June 1, 2019, the Company entered into a six-month lease agreement for a Chicago office that expired on November 30, 2019. The term was extended on a month-to-month basis after November 30, 2019 and the agreement was terminated in January 2020. Rental expenses for 2019 were $0.2 million. These rental expenses are reimbursed by CSHMS.

Effective December 1, 2017, the Company entered into a six-month lease agreement for a New York, New York office with a monthly rental expense of approximately $13.6 thousand that expired May 31, 2018. Effective June 1, 2018, the Company renewed the lease with additional space for another six months with a monthly rental expense of approximately $17.8 thousand that expired on November 30, 2018. Effective December 1, 2018 the Company renewed the lease for an additional four months with a monthly rental expense of approximately $18.8 thousand. Effective April 1, 2019, the Company renewed the lease for an additional 12 months with a monthly rental expense of approximately $17.9 thousand. Effective September 1, 2019, the Company assigned the lease to an affiliate, Gainbridge Insurance Agency, LLC.

Effective July 23, 2018, the Company entered into a month-to-month lease agreement for an office in New York, New York. The monthly rental expense is approximately $3.9 thousand. The lease expired February 28, 2019.

Effective September 10, 2018, the Company entered into a lease agreement for an office in Miramar, Florida that expires on June 30, 2024. Rental payments commenced once the Company took possession of the space which was on March 6, 2019. The first three months of rent in 2019 were abated. Rental expense for 2019 was $0.1 million. These rental expenses are reimbursed by CSHMS.

Effective February 7, 2019 the Company entered into a lease agreement for a second office in Miramar, Florida that terminated on March 31, 2019. The rental expense for 2019 was $33.2 thousand and was reimbursed by

CSHMS.

Effective December 20, 2019 the Company entered into a one-year lease agreement for an office in Columbia, South Carolina with rent payments beginning in January 2020. These rental expenses will be reimbursed by

CSHMS.

76

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

a.At December 31, 2019, future minimum aggregate rental commitments were as follows:

Year Ending		(In Thousands)
December 31,		Operating Leases
2020	$	3,193
2021		3,076
2022		3,220
2023		1,831
2024		1,044
Aggregate Total All Future	$	1,006
Years

18. DEBT

On December 12, 2014, the Company entered into a $350.0 million revolving credit facility (the "Facility") with Societe Generale, which was amended effective December 29, 2017 to a $200.0 million revolving credit facility. The Facility terminated on December 12, 2019. Borrowings under the Facility were available for general corporate purposes. Borrowings bore interest at LIBOR + 115 basis points, with a commitment fee of 48 basis points for any unused portion of the Facility, and the Facility had a 270 days rolling margin commitment. The Facility was secured by certain securities held in an account established for this purpose, and borrowings were limited to a specified percentage of the value of the securities in this account. The total commitment fees paid in 2019, 2018, and 2017 were approximately $0.9 million, $0.9 million, and $1.7 million, respectively. There were no outstanding borrowings as of December 31, 2019 and 2018.

19. FEDERAL HOME LOAN BANK

The Company is a member of the FHLB. Through its membership, the Company utilizes funding agreements obtained from the FHLB. The Company manages these funds in an investment spread strategy, consistent with its other investment spread operations. Accordingly, the Company considers these funds policyholder liabilities. It is not part of the Company's strategy to utilize these funds for operations, and any funds obtained from the FHLB for use in the Company's general operations would be accounted for as borrowed money. As indicated in Note 2, the FHLB also issued a $12.0 million letter of credit to the Company on behalf of an unrelated party effective September 30, 2019 with an initial expiration date of August 15, 2020. Collateral related to the letter of credit is included in the disclosures below. As of December 31, 2019 and 2018, respectively, there was $565.0 million and $365.0 million outstanding to the FHLB.

77

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

FHLB Capital Stock
	Aggregate Totals
										General						Separate
	Year Ended 2019 (In Thousands)					Total				Account						Accounts
	Membership Stock – Class A					$		—	$				—		$		—
	Membership Stock – Class B						2,949						2,949				—
	Activity Stock						23,016						23,016				—
	Excess Stock						4,725						4,725				—
	Aggregate Total					$	30,690		$				30,690		$		—
	Actual or Estimated Borrowing Capacity as
						$	747,256				XXX						XXX
	Determined by the Insurer
	Year Ended 2018 (In Thousands)
	Membership Stock – Class A					$		—	$				—		$		—
	Membership Stock – Class B						2,587						2,587				—
	Activity Stock						13,838						13,838				—
	Excess Stock							—					—				—
	Aggregate Total					$	16,425		$				16,425		$		—
	Actual or Estimated Borrowing Capacity as
						$	471,449				XXX						XXX
	Determined by the Insurer
	Membership Stock (Class A and B) Eligible for Redemption
	(In Thousands)
	Membership	Current Year		Not Eligible				6 months to					1 to Less
				for	Less Than 6 Less Than 1												3 to 5 Years
	stock	Total		Redemption		Months			Year			Than 3 Years
	Class A	$	— $		— $		— $			— $					— $		—
	Class B	2,949			2,949		—			—					—		—
Collateral Pledged to FHLB
	Amount Pledged as of Reporting Date
													Carrying			Aggregate
(In Thousands)								Fair Value									Total
													Value			Borrowing
Current Year General Account Total Collateral Pledged							$		868,893		$		849,372			$	565,000
Current Year Separate Accounts Total Collateral Pledged										—				—			—
Current Year Total General and Separate Accounts Total Collateral									868,893			$	849,372			$	565,000
Pledged								$
Prior Year End Total General and Separate Accounts Total Collateral									607,674		$		603,518			$	365,000
Pledged							$

78

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Maximum Amount Pledged During Reporting Period
									Carrying		Aggregate
(In Thousands)					Fair Value							Total
									Value		Borrowing
Current Year General Account Maximum Collateral Pledged				$		922,781		$	897,192	$		565,000
Current Year Separate Accounts Maximum Collateral Pledged						91,551			90,924			—
Current Year Total General and Separate Accounts Maximum				$		1,014,332		$	988,116	$		565,000
Collateral Pledged
Prior Year End Total General and Separate Accounts Total Collateral
				$		644,799		$	641,248	$		365,000
Pledged
Borrowing from FHLB
Amount as of Reporting Date
Current Year (In Thousands)		Total		General					Separate			Funding
												Agreements
				Account				Accounts				Reserves
												Established
Debt	$	—	$			—	$		—			XXX
Funding Agreements		565,000				565,000			—			508,480
Other		—				—			—			XXX
Aggregate Total	$	565,000	$			565,000	$		—	$		508,480
Prior Year (In Thousands)		Total		General					Separate			Funding
												Agreements
				Account				Accounts				Reserves
												Established
Debt	$	—	$			—	$		—			XXX
Funding Agreements		365,000				365,000			—			320,507
Other		—				—			—			XXX
Aggregate Total	$	365,000	$			365,000	$		—	$		320,507

Maximum Amount during Reporting Period (Current Year)

(In Thousands)		Total		General		Separate
				Account		Accounts
Debt	$	—	$	—	$	—
Funding Agreements		565,000		565,000		—
Other		—		—		—
Aggregate Total	$	565,000	$	565,000	$	—

79

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

FHLB - Prepayment Obligations
	Does the Company have prepayment
	Obligations under the following arrangements
	(YES/NO)
Debt	NO
Funding Agreements	YES
Other	NO

20. Health Business

Beginning in 2019, the Company issued Medicare Advantage products in the states of Colorado, North Carolina and Virginia, resulting in approximately $0.5 million of premium written in 2019. There was no premium written in 2018 or 2017.

Retrospectively-Rated Contracts and Contracts Subject to Redetermination

The Company estimates accrued retrospective premium adjustments for the Medicare Part D business in accordance with CMS regulations and using CMS formulas. Accrued retrospective premiums are recorded through written premium. The Company has Medicare Part D risk-corridor amounts related to Part D premiums. The amount of Medicare Part D direct premiums written subject to this retrospectively rated feature was $28.5 thousand for 2019 representing 6.0% of total direct health premiums written for 2019.

The Company has risk-adjustment amounts from CMS from Medicare Part C and Part D premiums. Medicare Part D premiums include payments from CMS for risk-sharing adjustments which are estimated quarterly based on claim experience, with final revenue adjustment determined and settlement with CMS in the year following the contract. The Company's Medicare Part C and Part D premiums are subject to redetermination by CMS based on risk factor scores of each member. The Company estimates premium adjustments for changes to health scores based on past experience. The Company recognizes periodic changes to risk-adjusted premiums as revenue when the amounts are determinable and collection is reasonably assured. All of the Company's direct health premiums written are subject to this redetermination feature.

The Company's actual loss ratios on the Medicare line of business were in excess of the minimum requirements and as a result no minimum medical loss ratio rebate was required to be established.

The Company did not write accident and health premiums in 2019 or 2018 subject to the risk-sharing provisions of the Affordable Care Act ("ACA").

Change in Incurred Losses and Loss Adjustment Expenses

There were no changes in methodologies or assumptions used in calculating the liability for unpaid losses and loss adjustment expenses. The Company did not write any health insurance business in 2018 or 2017 and therefore had no prior year development.

80

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

__________________________________________________________________________________

The following table discloses paid claims, incurred claims, claims unpaid, aggregate health claim reserves, and health care receivables for the year ended December 31, 2019.

In thousands				2019
		Current Year		Prior Year		Total
Beginning of year claim reserve		Incurred		Incurred
	$	—	$	—	$	—
Paid claims - net of health care		555		—		555
receivable
End of year claim reserve		131		—		131
Incurred claims excluding the		686		—		686
change in health care receivable
Beginning of year health care		—		—		—
receivable
End of year health care receivable		20		—		20
Total incurred claims	$	666	$	—	$	666

Original estimates are increased or decreased as additional information becomes known regarding claim development experience.

The Company incurred claims adjustment expenses ("CAE") of $65.3 thousand in 2019. The Company did not incur or pay claim adjustment expenses in the current year that was attributable to prior years.

Premium Deficiency Reserves

		In thousands
1.	Liability carried for premium deficiency reserves	$	679
2.	Date of the most recent evaluation of this liability		2/18/2020
3.	Was anticipated investment income utilized in the	Yes [	] No [ X ]
	calculation?

21. SUBSEQUENT EVENTS

The Company has evaluated events and transactions that occurred from January 1, 2020 to April 27, 2020, the date the financial statements were issued.

Type I - Recognized Subsequent Events:

During the first quarter of 2020, the Company received $100.0 million in cash contributions from its Parent. As these contributions were received prior to the filing of the annual statement, and the contributions were approved by the State of Delaware Department of Insurance, the contributions were recorded as of December 31, 2019. The corresponding receivable from Parent was considered an admitted asset as prescribed by SSAP No. 72 "Surplus and Quasi-Reorganizations."

Type II - Nonrecognized Subsequent Events:

During 2020, the Company borrowed $320.0 million from the FHLB by entering into short term advance agreements, of which $250.0 million has been repaid. Also during 2020, the Company entered into additional funding agreements with the FHLB for $248.0 million.

81

DELAWARE LIFE INSURANCE COMPANY

(A Wholly-Owned Subsidiary of Group One Thousand One, LLC)

NOTES TO STATUTORY FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 AND 2018 AND FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 AND 2017

____________________________________________________________________________________________

Subsequent to December 31, 2019, on March 27, 2020, H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act, "the CARES ACT", was signed into legislation which includes tax provisions relevant to businesses that during 2020 will impact taxes related to 2018 and 2019. Some of the significant changes are reducing the interest expense disallowance for 2019 and 2020, allowing the five year carryback of net operating losses for 2018-2020, suspension of the 80% limitation of taxable income for net operating loss carryforwards for 2018-2020, and the acceleration of depreciation expense from 2018 and forward on qualified improvement property. The Company is required to recognize the effect on the financial statements in the period the law was enacted, which is 2020. At this time, for 2018 and 2019, the Company does not expect the impact of the CARES ACT on the Company's financial position or results of operations to be material.

The spread of COVID-19 is worldwide, dislocating the capital markets and affecting every industry. As of April 27, 2020, the Company has taken steps to protect its employees and seek to maintain business continuity. The Company further believes that its capital and liquidity positions enable it to weather current market volatilities and business disruptions related to the pandemic. However, there is considerable uncertainty around both the severity and the duration of the COVID-19 outbreak, and for that reason the future financial and other impacts of the pandemic cannot reasonably be estimated at this time.

On April 23, 2020, the Company declared an ordinary dividend of $65.0 million to the Parent to be paid on or after April 24, 2020.

82

PART C 

OTHER INFORMATION 

Item 24. FINANCIAL STATEMENTS AND EXHIBITS 

(a)	The following Financial Statements are included in the Registration Statement:
	A.	Condensed Financial Information - Accumulation Unit Values (Part A)
	B.	Financial Statements of the Depositor (Part B)
	C.	Financial Statements of the Registrant (Part B)

(b)  The following Exhibits are incorporated in the Registration Statement by reference unless otherwise indicated: 

(1)	Resolution of Board of Directors of the Depositor dated December 3, 1985 authorizing the establishment of the Registrant (Incorporated herein by reference to the Registration Statement on Form N-4, File No. 333-37907, filed on October 14, 1997); Exhibit (1)
(2)	Not Applicable;
(3)(a)	Marketing Services Agreement between Sun Life Assurance Company of Canada (U.S.), Sun Life of Canada (U.S.) Distributors, Inc. and Clarendon Insurance Agency, Inc. (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-37907, filed on January 16, 1998); Exhibit (3)(a)
(3)(b)(i)	Principal Underwriter’s Agreement by and between Sun Life Assurance Company of Canada (U.S.) and Clarendon Insurance Agency, Inc. (Incorporated herein by reference to Post-Effective Amendment No. 16 to the Registration Statement on Form N-4, File No. 333-83364, filed on or about April 28, 2009); Exhibit (3)(b)(1)
(3)(b)(ii)	Amendment No. 1 to Principal Underwriter’s Agreement by and between Sun Life Assurance Company of Canada (U.S.) and Clarendon Insurance Agency, Inc. (Incorporated herein by reference to Post-Effective Amendment No. 16 to the Registration Statement on Form N-4, File No. 333-83364, filed on or about April 28, 2009); Exhibit (3)(b)(2)
(3)(b)(iii)	Amendment No. 2 to Principal Underwriter’s Agreement by and between Sun Life Assurance Company of Canada (U.S.) and Clarendon Insurance Agency, Inc. (Incorporated herein by reference to Post-Effective Amendment No. 12 to the Registration Statement of Delaware Life Variable Account I on Form N-6, File No. 333-100829, filed on April 27, 2010); Exhibit (3)(b)(iii)
(3)(b)(iv)	Amendment No. 3 to Principal Underwriter’s Agreement by and between Sun Life Assurance Company of Canada (U.S.) and Clarendon Insurance Agency, Inc. (Incorporated herein by reference to Post-Effective Amendment No. 12 to the Registration Statement of Delaware Life Variable Account I on Form N-6, File No. 333-100829, filed on April 27, 2010); Exhibit (3)(b)(iv)
(3)(c)(i)	Sales Operations and General Agent Agreement (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-37907, filed on January 16, 1998);  Exhibit (3)(c)(1)
(3)(c)(ii)	Broker-Dealer Supervisory and Service Agreement (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-37907, filed on January 16, 1998); Exhibit (3)(c)(ii)
(3)(c)(iii)	General Agent Agreement (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-37907, filed on January 16, 1998); Exhibit (3)(c)(iii)
(4)(a)	Flexible Payment Combination Fixed/Variable Group Annuity Contract (Incorporated herein by reference to the Registration Statement on Form N-4, File No. 333-83362, filed on February 25, 2002); Exhibit (4)(a)
(4)(b)	Certificate to be issued in connection with Contract filed as Exhibit 4(a) (Incorporated herein by reference to the Registration Statement on Form N-4, File No. 333-83362, filed on February 25, 2002); Exhibit (4)(b)
(4)(c)	Flexible Payment Combination Fixed/Variable Individual Annuity Contract (Incorporated herein by reference to the Registration Statement on Form N-4, File No. 333-83362, filed on February 25, 2002); Exhibit (4)(c)
(4)(d)	Secured Returns 2 Rider to Certificate filed as Exhibit (4)(b) (Incorporated herein by reference to the Registration Statement on Form N-4, File No. 333-115525, filed on May 14, 2004); Exhibit (4(d)
(4)(e)	Secured Returns 2 Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to the Registration Statement on Form N-4, File No. 333-115525, filed on May 14, 2004); Exhibit (4)(e)
(4)(f)	Secured Returns for Life Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 9 to the Registration Statement on Form N-4, File No. 333-83516, filed on August 2, 2005); Exhibit (4)(f)
(4)(g)	Secured Returns for Life Plus Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 13 to the Registration Statement on Form N-4, File No. 333-83516, filed on February 3, 2006); Exhibit (4)(g)
(4)(h)	Income ON Demand Benefit Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 19 to the Registration Statement on Form N-4, File No. 333-83516, filed on September 22, 2006); Exhibit (4)(h)
(4)(i)	Retirement Asset Protector Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 19 to the Registration Statement on Form N-4, File No. 333-83516, filed on September 22, 2006); Exhibit (4)(i)
(4)(j)	Retirement Income Escalator Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 25 to the Registration Statement on Form N-4, File No. 333-83516, filed on February 12, 2008); Exhibit (4)(j)
(4)(k)	Income ON Demand Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 25 to the Registration Statement on Form N-4, File No. 333-83516, filed on February 12, 2008); Exhibit (4)(k)
(4)(l)	Retirement Income Escalator II Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 28 to the Registration Statement on Form N-4, File No. 333-83516, filed on July 3, 2008); Exhibit (4)(l)
(4)(m)	Income ON Demand II Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 28 to the Registration Statement on Form N-4, File No. 333-83516, filed on July 3, 2008); Exhibit (4) (m)
(4)(n)	Income ON Demand II Escalator Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 28 to the Registration Statement on Form N-4, File No. 333-83516, filed on July 3, 2008); Exhibit (4)(n)
(4)(o)	Income ON Demand II Plus Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 28 to the Registration Statement on Form N-4, File No. 333-83516, filed on July 3, 2008); Exhibit (4)(o)
(4)(p)	Income ON Demand III Escalator Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 23 to the Registration Statement on Form N-4, File No. 333-83362, filed on June 10, 2009); Exhibit (4)(p)
(4)(q)	Sun Income Riser Rider to Flexible Payment Combination Fixed/Variable Individual Annuity Contract filed as Exhibit (4)(c) (Incorporated herein by reference to Post-Effective Amendment No. 23 to the Registration Statement on Form N-4, File No. 333-83362, filed on June 10, 2009); Exhibit (4)(q)
(5)(a)	Application to be used with Contract filed as Exhibit 4(a) (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-74884, filed on February 14, 2002); Exhibit (5)(a)
(5)(b)	Application to be used with Certificate filed as Exhibit 4(b) and Contract filed as Exhibit 4(c) (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-7444, filed on February 14, 2002); Exhibit (5(b)
(6)(a)	Certificate of Incorporation of the Depositor (Incorporated herein by reference to Post-Effective Amendment No. 51 to the Registration Statement on Form N-4, File No. 333-83516, filed on August 11, 2014); Exhibit (6(a)
(6)(b)	By-Laws of the Depositor (Incorporated herein by reference to Post-Effective Amendment No. 51 to the Registration Statement on Form N-4, File No. 333-83516, filed on August 11, 2014); Exhibit (6)(b)
(7)	Amended and Restated Reinsurance Agreement between Delaware Life Insurance Company and Hannover Life Reassurance Company of America (Incorporated herein by reference to Post-Effective Amendment No. 56 to the Registration Statement on Form N-4, File No. 333-83516, filed on April 26, 2019); Exhibit (7)
(8)(a)	Participation Agreement by and between The Alger American Fund, the Depositor, and Fred Alger and Company, Incorporated (Incorporated herein by reference to Post-Effective Amendment No. 13 to the Registration Statement on Form N-4, File No. 033-41628, filed on April 23, 1999); Exhibit (8)(a)
(8)(b)	Participation Agreement, dated September 27, 2018, by and among Goldman Sachs Variable Insurance Trust and Goldman Sachs & Co. LLC, dated September 27, 2018 (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(b)
(8)(c)	Participation Agreement, dated February 17, 1998, as amended through September 18, 2014, by and among Delaware Life Insurance Company, Clarendon Insurance Agency, Inc., AIM Variable Insurance Funds (Invesco Variable Insurance Funds) and Invesco Distributors, Inc. (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018): Exhibit (8)(c)
(8)(d)	Participation Agreement dated April 30, 2001 by and among Rydex Variable Trust, Rydex Distributors, Inc., and Sun Life Assurance Company of Canada (U.S.). (Incorporated herein by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4, File No. 333-82957, filed on July 27, 2001); Exhibit (8)(d)
(8)(e)	Amended and Restated Participation Agreement dated September 1, 2004 by and among Sun Life Assurance Company of Canada (U.S.), Variable Insurance Products Funds, and Fidelity Distributors Corporation. (Incorporated herein by reference to Post-Effective Amendment No. 8 to the Registration Statement of on Form N-4, File No. 333-83516, filed on April 28, 2005); Exhibit (8)(e)
(8)(f)	Participation Agreement, dated May 1, 2001,as amended through March 26, 2018, by and among Delaware Life Insurance Company, Clarendon Insurance Agency, Inc., AllianceBernstein L.P. and AllianceBernstein Investments, Inc. (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(f)
(8)(g)	Participation Agreement, dated February 17, 1998, as amended through July 23, 2018, by and among Delaware Life Insurance Company, Delaware Life Insurance Company of New York, Lord Abbett Series Fund, Inc. and Lord, Abbett & Co. LLC (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(g)
(8)(h)	Participation Agreement Among Franklin Templeton Variable Insurance Products Trust, Franklin Templeton Distributors, Inc., Sun Life Assurance Company of Canada (U.S.), Sun Life Insurance and Annuity Company of New York and Clarendon Insurance Agency, Inc. (Incorporated herein by reference to the Registration Statement on Form N-4, File No. 333-102278, filed on December 31, 2002); Exhibit (8)(h)
(8)(i)	Participation Agreement, dated September 16, 2002, as amended through September 17, 2014, by and among Delaware Life Insurance Company, Delaware Life Insurance Company of New York, PIMCO Variable Insurance Trust and PIMCO Investments (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(i)
(8)(j)	Participation Agreement by and among Wanger Advisors Trust, Columbia Funds Distributors, Inc., Sun Life Assurance Company of Canada (U.S.), and Sun Life Insurance and Annuity Company of New York (Incorporated herein by reference to Post-Effective Amendment No. 8 to Registration Statement on Form N-4, File No. 333-83516, filed on April 28, 2005); Exhibit (8)(j)
(8)(k)	Participation Agreement, dated December 3, 2007, as amended through May 1, 2018, by and among Delaware Life Insurance Company, Delaware Life Insurance Company of New York, Lazard Asset Management Securities LLC, and Lazard Retirement Series, Inc. (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(k)
(8)(l)	Participation Agreement, dated May 1, 2004, as amended through June 5, 2018, by and among Delaware Life Insurance Company, The Morgan Stanley Variable Insurance Fund, Inc., Morgan Stanley Investment Management Inc. and Morgan Stanley Distribution, Inc (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(l)
(8)(m)	Participation Agreement, dated December 3, 2007, by and among Sun Life Assurance Company of Canada (U.S.), The Huntington Funds, Edgewood Services, Inc., and Huntington Asset Advisors, Inc. (Incorporated herein by reference to Post-Effective Amendment No. 25 to the Registration Statement on Form N-4, File No. 333-83516, filed on February 12, 2008); Exhibit (8)(m)
(8)(n)	Participation Agreement, dated May 13, 2004, by and among Sun Life Assurance Company of Canada (U.S.), Merrill Lynch Variable Series Funds, Inc., Merrill Lynch Investment Managers, L.P. and FAM Distributors, Inc. (Incorporated herein by reference to Post-Effective Amendment No. 1 to the Registration Statement of Delaware Life Variable Account G on Form N-6, File No. 333-111688, filed on April 29, 2005);  Exhibit (8)(n)
(8)(o)	Participation Agreement, dated September 30, 2002, by and among Sun Life Assurance Company of Canada (U.S.), Sun Life Insurance and Annuity Company of New York, First Eagle Sogen Variable Funds, Inc. and Arnhold and S. Bleichroeder, Inc. (Incorporated herein by reference to the Registration Statement of Delaware Life Variable Account I on Form N-6, File No. 333-143353, filed on May 30, 2007); Exhibit (8)(o)
(8)(p)	Participation Agreement, dated August 1, 2011, as amended through May 16, 2018, by and among Delaware Life Insurance Company of New York and Delaware Life Insurance Company, Putnam Variable Trust and Putnam Retail Management Limited Partnership (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(p)
(8)(q)	Participation Agreement, dated August 1, 2011, among Sun Life Assurance Company of Canada (U.S.), Sun Life Insurance and Annuity Company of New York, PIMCO Equity Series VIT, and PIMCO Investments LLC (Incorporated herein by reference to Pre-Effective Amendment No. 2 the Registration Statement of Delaware Life Variable Account K on Form N-4, File No. 333-173301, filed on August 10, 2011); Exhibit (8)(q)
(8)(r)	Participation Agreement, dated May 1, 2011, among Wells Fargo Variable Trust, Sun Life Assurance Company of Canada (U.S.) and Sun Life Insurance and Annuity Company of New York (Incorporated herein by reference to Pre-Effective Amendment No. 1 the Registration Statement on Form N-4, File No. 333-173301, filed on June 8, 2011); Exhibit (8)(r)
(8)(s)	Participation Agreement, dated April 24, 2009, as amended through May 29, 2018, by and among Delaware Life Insurance Company of New York and Delaware Life Insurance Company, JPMorgan Insurance Trust and J. P. Morgan Investment Management Inc. (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(s)
(8)(t)	Participation Agreement, dated December 1, 2012, as amended through September 8, 2014, by and among Delaware Life Insurance Company of New York and Delaware Life Insurance Company, MFS Variable Insurance Trusts I, II and III, and MFS Fund Distributors, Inc. (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(t)
(8)(u)	Participation Agreement, restated April 1, 2007, by and among Sun Life Assurance Company of Canada (U.S.), Sun Life Insurance and Annuity Company of New York, Independence Life and Annuity Company, Columbia Funds Variable Insurance Trust I, Columbia Management Advisors, LLC, and Columbia Management Distributors, Inc. (Incorporated herein by reference to Post-Effective Amendment No. 47 to the Registration Statement on Form N-4, File No. 333-83516, filed on April 29, 2013); Exhibit (8)(u)
(8)(v)	Participation Agreement, dated April 26. 2013, as amended through July 1, 2018, by and among Delaware Life Insurance Company, Delaware Life Insurance Company of New York, Delaware Life Insurance and Annuity Company (Bermuda) Ltd., Columbia Funds Variable Insurance Trust, Columbia Management Investment Advisers, LLC, and Columbia Management Investment Distributors, Inc. (Incorporated herein by reference to the Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-225901, filed on October 1, 2018); Exhibit (8)(v)
(8)(w)	Participation Agreement, dated April 29, 2011, by and among Sun Life Assurance Company of Canada (U.S.), Sun Life Insurance and Annuity Company of New York, Independence Life and Annuity Company, RiverSource Variable Series Trust, Columbia Management Investment Advisers, LLC, and Columbia Management Investment Distributors, Inc. (Incorporated herein by reference to Post-Effective Amendment No. 47 to the Registration Statement on Form N-4, File No. 333-83516, filed on April 29, 2013); Exhibit (8)(w)
(9)	Opinion of Counsel as to the legality of the securities being registered and Consent to its use;*
(10)(a)	Consent of Independent Registered Public Accounting Firm;*
(10)(b)	Representation of Counsel pursuant to Rule 485(b);*
(11)	Not Applicable;
(12)	Not Applicable;
(13)	Schedule for Computation of Performance Quotations (Incorporated herein by reference to Post-Effective Amendment No. 10 to the Registration Statement on Form N-4, File No. 033-41628, filed on April 29, 1998); Exhibit (13)
(14)(a)	Powers of Attorney (Incorporated herein by reference to the Post-Effective Amendment No. 2 to the Registration Statement on Form N-4, File No. 333-225901, filed on December 30, 2019);Exhibit (14)(a)
(14)(b)	Resolution of the Board of Directors of the depositor dated April 23, 2020, authorizing the use of powers of attorney for Officer signatures;*
(15)	Organization Chart of the Registrant, the Depositor and Group One Thousand One, LLC; * and
(16)	Master Services Agreement by and between Sun Life Assurance Company of Canada (U.S.) and se2, Inc., dated December 1, 2013. (Incorporated herein by reference to Post-Effective Amendment No. 15 to the Registration Statement of Delaware Life Variable Account I on Form N-6, File No. 333-143354, filed on April 29, 2015.) Exhibit (16)

* Filed herewith 

Item 25. DIRECTORS AND OFFICERS OF THE DEPOSITOR 

Name and Principal Business Address	Positions and Offices With Depositor
Dennis A. Cullen 811 Turnberry Lane Northbrook, IL 60062	Director
David E. Sams, Jr. Delaware Life Insurance Company 1601 Trapelo Road, Suite 30 Waltham, MA  02451	Chairman and Director
Daniel J. Towriss Delaware Life Insurance Company 1601 Trapelo Road, Suite 30 Waltham, MA 02451	Chief Executive Officer and President and Director
Michael S. Bloom Delaware Life Insurance Company 1601 Trapelo Road, Suite 30 Waltham, MA 02451	Senior Vice President and General Counsel and Secretary
Andrew F. Kenney Delaware Life Insurance Company 1601 Trapelo Road, Suite 30 Waltham, MA 02451	Chief Investment Officer
Michael K. Moran Delaware Life Insurance Company 1601 Trapelo Road, Suite 30 Waltham, MA 02451	Senior Vice President and Chief Accounting Officer and Treasurer
James D. Purvis Delaware Life Insurance Company 1601 Trapelo Road, Suite 30 Waltham, MA 02451	Chief Operating Officer
Robert S. Sabatino Delaware Life Insurance Company 1601 Trapelo Road, Suite 30 Waltham, MA 02451	Senior Vice President, Information Technology and Operations
Michelle B. Wilcon Delaware Life Insurance Company 1601 Trapelo Road, Suite 30 Waltham, MA 02451	Senior Vice President, Human Resources

Item 26. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE DEPOSITOR OR REGISTRANT 

No person is directly or indirectly controlled by the Registrant. The Registrant is a separate account of the Depositor, Delaware Life Insurance Company, which is a wholly-owned subsidiary of Group One Thousand One, LLC. 

The organization chart of Group One Thousand One, LLC, the Depositor and Registrant is filed herewith as Exhibit 15. None of the companies listed in such organization chart is a subsidiary of the Registrant; therefore, the only financial statements being filed are those of Delaware Life Insurance Company. 

Item 27. NUMBER OF CONTRACT OWNERS 

As of March 2, 2020, there were 3,175 qualified and 2,177 non-qualified contract owners. 

Item 28. INDEMNIFICATION 

Pursuant to Section 145 of the Delaware Corporation Law, Article 8 of the By-laws of Delaware Life Insurance Company (a copy of which was filed as Exhibit (6)(b) to Post-Effective Amendment No. 51 to the Registration Statement on Form N-4, File No. 333-83516, on August 11, 2014), provides for the indemnification of directors, officers and employees of Delaware Life Insurance Company. Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of Delaware Life Insurance Company pursuant to the certificate of incorporation, by-laws, or otherwise, Delaware Life Insurance Company has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by Delaware Life Insurance Company of expenses incurred or paid by a director, officer, controlling person of Delaware Life Insurance Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, Delaware Life Insurance Company will submit to a court of appropriate jurisdiction the question whether such indemnification by them is against public policy as expressed in the Act, unless in the opinion of their counsel the matter has been settled by controlling precedent, and will be governed by the final adjudication of such issue. 

Item 29. PRINCIPAL UNDERWRITERS 

(a) Clarendon Insurance Agency, Inc., a wholly-owned subsidiary of Delaware Life Insurance Company, acts as general distributor for the Registrant, Delaware Life Variable Accounts C, D, E, G, I, K and L, Keyport Variable Account A, KMA Variable Account, Keyport Variable Account I, KBL Variable Account A, KBL Variable Annuity Account, Delaware Life NY Variable Accounts A, B, C, D, J and N. 

(b)	Name and Principal	Position and Offices
	Business Address*	with Underwriter
	Thomas G. Seitz	President and Director
	Michael K. Moran	Financial Operations Principal and Treasurer and Director
	Michael S. Bloom	Secretary and Director
	Christopher J. Vellante	Chief Compliance Officer

*The principal business address of all directors and officers of the principal underwriter is, 1601 Trapelo Road, Suite 30, Waltham, Massachusetts 02451. 

(c) Inapplicable. 

Item 30. LOCATION OF ACCOUNTS AND RECORDS 

Accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940 and the Rules promulgated thereunder are maintained, in whole or in part, by Delaware Life Insurance Company at its offices at 1601 Trapelo Road, Suite 30, Waltham, Massachusetts 02451, at the offices of Clarendon Insurance Agency, Inc., at 1601 Trapelo Road, Suite 30, Waltham, Massachusetts 02451, or at the offices of se², llc at 5801SW6thAvenue, Topeka,Kansas66636-0001 

Item 31. MANAGEMENT SERVICES 

Not Applicable. 

Item 32. UNDERTAKINGS 

The Registrant hereby undertakes: 

(a)	To file a post-effective amendment to this Registration Statement as frequently as is necessary to ensure that the audited financial statements in the Registration Statement are never more than 16 months old for so long as payments under the variable annuity Contracts may be accepted;
(b)	To include either (1) as part of any application to purchase a Contract offered by the prospectus, a space that an Applicant can check to request a Statement of Additional Information, or (2) a post card or similar written communication affixed to or included in the prospectus that the Applicant can remove to send for a Statement of Additional Information;
(c)	To deliver any Statement of Additional Information and any financial statements required to be made available under SEC Form N-4 promptly upon written or oral request.
(d)	Representation with respect to Section 26(f)(2)(A) of the Investment Company Act of 1940: Delaware Life Insurance Company represents that the fees and charges deducted under the Contracts, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by the insurance company.
	The Registrant is relying on the no-action letter issued by the Division of Investment Management of the Securities and Exchange Commission to American Council of Life Insurance, Ref. No. IP-6-88, dated November 28, 1988, the requirements for which have been complied with by the Registrant.

SIGNATURES 

As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements of Securities Act Rule 485(b) for effectiveness of this Post-Effective Amendment to the Registration Statement and has caused this Post-Effective Amendment to the Registration Statement to be signed on its behalf, in the City of Waltham, and Commonwealth of Massachusetts on this 27th day of April, 2020.  

DELAWARE LIFE VARIABLE ACCOUNT F
(Registrant)
DELAWARE LIFE INSURANCE COMPANY
(Depositor)
By: /s/ Daniel J. Towriss*
	Daniel J. Towriss
	Chief Executive Officer and President

As required by the Securities Act of 1933, this Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities with the Depositor, Delaware Life Insurance Company, and on the dates indicated. 

SIGNATURE	TITLE	DATE
/s/ David E. Sams, Jr.*	Chairman and Director	April 27, 2020
David E. Sams, Jr.	(Principal Executive Officer)
/s/ Daniel J. Towriss*	Chief Executive Officer and President and Director	April 27, 2020
Daniel J. Towriss	(Principal Executive Officer)
/s/ Michael K. Moran*	Senior Vice President and Chief Accounting	April 27, 2020
Michael K. Moran	Officer and Treasurer
	(Principal Financial Officer and Principal
	Accounting Officer)
/s/ Dennis A. Cullen*	Director	April 27, 2020
Dennis A. Cullen
*By: /s/ Kenneth N. Crowley	Attorney-in-Fact for:	April 27, 2020
Kenneth N. Crowley	Dennis A. Cullen, Director
	David E. Sams, Jr., Chairman and Director
	Daniel J. Towriss, Chief Executive Officer,      President, and Director;
	Michael K. Moran, Senior Vice President, Chief      Accounting Officer, and Treasurer

*Kenneth N. Crowley has signed this document on the indicated date on behalf of the above Directors for the Depositor pursuant to powers of attorney duly executed by such persons and a resolution of the Board of Directors authorizing use of powers of attorney for Officer signatures. Powers of Attorney are incorporated herein by reference to Post-Effective Amendment No. 2 to the Registration Statement on Form N-4, File No. 333-225901, filed on December 30, 2019. Resolution of the Board of Directors is included herein as Exhibit 14(b).  

EXHIBIT INDEX 

(9)	Opinion of Counsel as to the legality of the securities being registered and Consent to its use
(10)(a)	Consent of Independent Registered Public Accounting Firm
(10)(b)	Representation of Counsel pursuant to Rule 485(b)
(14)(b)	Resolution of the Board of Directors
(15)	Organization Chart of the Registrant, the Depositor and Group One Thousand One, LLC