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~L i A N H I G H t I G~~--~ ~ f TAB It E 0 F CON TEN T ~

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~ Renewable to age 78, convertible to age 70. :.:' Marketing Overview. 3,

, 8) i!J Renewable premiums lower than issue premiums. Plan Details. 4

0 Renews without evidence of insurability. Rates & Software. ! 7~ !

0 Unique contradual Guarantee of Good Value.

i!J Banded rates, split smoker/non-smoker status. I

i!f CCtoIerages may be combined in multiple life family 1or business situations to get the benefit of a lowerrate in a higher volume band.

i!J Policy fee reduced to $50 per life in multiple lifefamily or business cases.

I

~ Unique Face Enhancement Rider i~ases coverage! over the first 10 years for a level 10 year premium.

i?j Cooversion discount in administration fee from$7.50 to $5.00 if converted to The Archited.

~ Conversion discount of 20% on the first year'spremium of the plan seleded if converted to a per-manent whole life plan between the 2nd and 10thpolicy anniversaries.

B Unisex waiver of premium rates.

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p ~ AND ETA I L S RenewJI

: Value Term is renewable to age 78. The policy auto-

" alu l-r:erm I"S a non part .c " t . bl d matically renews every 10 years without evidence ofy, 9 It -I Ipa Ing renewa e an con- .0 0 .

vertil1le tennPlan prov"ld.lng I I t . h Insurability at a guaranteed renewal premium, based8 ' ~ , eve ermcoveragewlt h 0 d' h .

gua~nteed 10 Year step-rate " on t e Insure s t en attained age. The renewal

I q premiums. " II d . I h~ premium, contractua y guarantee, IS ower t an the: Issue! Ages .entry premium for the same age.

18 -t,8Guarantee of Good Value

Policy Bands .Value Term provides a contractual guarantee of gOO(

$ 50,000 -$ 499,999 value which ensures that the policy automaticall)

, $ 500,000 -$ 999,999 renews at the lower of: the guaranteed renewal rate, $1,000,000 -$1 ,999,999 ~rt~e then current rate offered by the Company on"

similar type plan.

Minimum Policy C .$50 000 I b." . I .onverslon , or ess, su ~ect to a minimum annua premIum .of $300 (inclusive of policy fee and riders premium) Value Term IS convertible to age 70 to The Ard1itect

, or a minimum PAWS of $15. or to any pe~anent ~Ian then being offered by the; Company. If this plan IS converted between the 2 nd

Policy Fee and 10th policy anniversaries to The Architect, the$90 fo . d.. d 11 "£ monthly Administration Fee is reduced from $7.50 to

r an In IVI ua lie. ...$50 '°fe£ It. I ,.£ furn . 1 b .." $5.00 In all years. If thiS plan IS converted between the

per I lormu Ipe lie Iyor uslnesssituations. ...2nd and 10th policy anniversaries to a permanent

P .whole life plan, a 20% discount isgiven on the 1styearremlums ...annual premium of the plan selected.

Non-smoker and smoker premiums are available. A

oon-smoker is someone who has not smoked cigarettes Value Term Rider. ~ or cigarillos for at least one year. Value Term is available as a Rider to any permanent

whole life plan offered by the Company. The CompanyPremium Factors offers Value Term as a secondary policy to The ArmitectSemi Annual .52 with a reduced policy fee of $50.00.

Monthly (PAWS) .0925Monthly (employer sponsored plans) .085 Riders & Benefits

Volume Discount Face Enhancement Rider (FER): In multiple life family or business situations, face This rider when added to a Value Term policy will, 1. amounts may be combined at issue to obtain the benefit increase the original face amount by 10% every 2 years

of a ICMler rate in a higher volume band. Premiums are on the policy anniversary. At the end of the 10th policy

calculated as usual on each individual life and a .year, the Rider will expire and the policy will renew

separate policy will be issued for each life. In addition, for the total enhanced face amount which will equali each life will automatically receive the benefit of a an additional 50% of the initial face amount.

reduced policy fee of $50.00. .

If waiver of premium is applied for with FER, use the

waiver rates shown for base plan plus FER.

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i Underwriting Rules for Face Enhancement Rider RAT E S & WAR E1

Issue A~s 18 -60.

Wh tk: Ode . I. d L". the L" t Rates are shown on the following ages., en I lIS rl r IS app Ie lor, Increase lace amoun. by 10% ~nd use the underwriting requirements need- I "T: f . I .1ed for tijat total. Va ue ~erm so !ware IS a so aval a

N1arketlng Centre.

Waiver of Premium (WP) IIssue A~s 15 -55.

This rider when added to a Value Term policy will waivethe premiums for the duration of the disability shouldthe policyowner become disabled before age 60.

Accidental Death and Dismemberment (AD & D) or;: Accidental Death Benefit (ADB), Either of these riders are available on any or all eligible

lives aged 15 -55.

'1 The limi~ations on amounts available are:! Minimum: $25,000 or the face amount if lower.

N1aximum: Face amount or $400,000 if lower.

Expiry Age: AD & D -age 65ADB -age 70

Children's Protection Rider (CPR). This rider is available for any number of children (born,

unborn or legally adopted), ages 15 days -18 years.It offers a low cost term coverage with a conversionoption of up to 10 times the initial coverage amountwith the full or partial amount taken at any of the op-tion datffi. Option dates are at ages 21,23,25 or at mar-riage prior to age 25. Conversion may be made to anyeligible Aetna Canada plan available at time of conver-sian subject to policy minimums.

Rates fa- CPR are:1 1 -5 children $ 6.00 per $1,000

~6 or more children $12.00 per $1,000

Premiums are payable to age 25 of the youngest child. I

Coverage expires at each child's age 25.Minimum Face Amount: $ 5,000N1aximum Face Amount: $30,000

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Annual Premiums per $1,000 Annual Premiums per $1,000

Policy Fee: Individual Applicant $90 .Policy Fee: Individual Applican $90

Multiple LIves $50 per life Multiple Lives $50 per life

8' Male anoker For female rates, see below Male Smoker

Base Plan

fi},OOO -499,999 500,000 .999,999 ~~:n PlJ;i:e;R .

Age Is~e Renewal FER Issue Renewal FER WP WP1 """.. ' 036 " '" 13 '7 '" 134 0.34 " 012 "',,

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19~1"(,.'I't"';",..:;"';,"""'h;:"'":,,,,,,-~:88v 048 "186 ~""'81'""'041'" ""016"'."020 ~I\~O,fl ::,0.53' ; ;2.' 05 !~t2.' OO"" {: 0.5' 1j~ :iio'18 ~ ¥0.23 .

;~ljI," ;",;O"""' "o;-."-~"'"2.27 0.58 2.25 2,19 0,56 0,20 0.25

2.52 0.65 2.49 2.43 0.62 0.22 0.28

2.77 0.71 2.74 2.67 0-69 0.24 0.30

3.03 0.78 3.01 2.93 0.75 0.27 0.34

3.31 0.85 3.29 3.21 0.82 0.29 0.36

61'" ""'093i :;~~ 58 ~ "An': 0.00 '" "" 032 ' ., 0 An:,~'.. 'O~~' ,:",!t;I,~ .4C". f,,"""fV"

97f ¥;i102£ '~394"; ;.'Gv84~ f>'O.99t 1IO36~ 1045!:

134,j ':1'11:;; )::'A'{32'.., ::rt411'..: "';'1 OO~ ;!ii'O'41"? ~0'51"'~7-2,~t J~f1'21 ~; '~ 4' ' 70 '" 1t~" 58¥i ~",1""81"" '~0'46~.;; ""0'58~ '. j.'. I: ,1(:,. .' ,':!. ',.1 'ff. ~; I':' ,

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5.55 1.42 5.53 5.39 1.38 0.58 0.73

6.00 1.54 5.97 5.82 1.49 0.67 0.84

6.47 1.66 6.45 6.29 1.61 0.78 0.98

6.98 1.79 6.95 6.78 1.74 0.00 1.13

7.52 1.93 7.49 7.30 1.87 1.04 1.30

10t "'2.00'~ ~S;01' ;&:O7t\ ~M t; I ,'SO '- ~~:; ~ ~% .~' !1J'"~o;rt~; ...,!' .~

70,; r2.23" r%,8,67,: iJiI!}!45,; ",,2.1]; : 1'47. i!1.84,

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., 1I01~ rri 2.58~ iii10.03i ~~9}1Brr ,'-;,2.511 ~2.20;, ~2.75 ir'c": "'"""!.~ff" "'"

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11.72 3.01 11.67 11.38 2.92 3.30 4.13

12.67 3.25 12.61 12.29 3.15 3.64' 4.55'

13.69 3.51 13.63 13.29 3.41 4.00' 5.00'

14.82 3.80 14.76 14.39 3.69 4.41' 5.51'

8 16.04 4.11 15.97 15.57 3.99 4.86' 6.00''-36"' 4"'4.'AI:" ; 17-.0 "'

16°1:'- 4.32'

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:111 i, ii~ if I25.32 25.19 24.56 65

27.85 27.70 27.01 66

29.98 29.84 29.09 67

32.26 32.11 31.31 68

34.82 33.79 69

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fli r:~75 .61.64 ,7576 70.39 68.29 76

77 78.03 75.69 77

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For Females; ,

Base For ages 18-30 use male rates Base For ages 18-30 use male rates

Premiums: For ages 31-40 use male rates with a Premiums: For ages 31-40 use male rates

3-year set back with a 3-year set back

For ages 41-68 use male rates with a For ages 41-68 use male rates

..'" 4-year set back with a 4-year set back

Waiver :: Use Actual Age Waiver Use Actuql Age

Rates: toO -For Renewaf only Rates: -For Ren~war only, I

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; About AetnaII Aetna Canada is the largest intemational operation of

Aetna Life and Casualty of Hartford Connedicut. Aetnais a worldwide insurance and financial servicesorganization with assets of over $100 billion, com-parable in size to the major Canadian banks. Aetna israted A + (superior) by A.M. Best*.

~ Aetna Life Insurance Company of Canada, with assets

in excess of $2 billion, is the major operating comPc,nyof Aetna Canada. The Canadian company beganbusiness in Ontario in 1890 under the name ExcelsiorLife. Through Aetna Life and its associated companies,Aetna Capital Management, Aetna Trust and AetnaBenefits Management, Aetna Canada markets productsin the Life, Health, Annuity, RRSP, Pension and MoneyManagement fields. Aetna is noted for being a market

.leader and product innovator.

Aetna Canada markets its products across the country.through independent distributors: Equinox Financial

Group, affiliated Managing General Agencies and PPIRnancial Group. Each is committed to providing theircustomers with the best products and services.

* A.M. Best monito~ the performance of companies in the!

insurance industry.:

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Policy Number "',f

VALUETERM

Owner

JANE DOE

Marketing Centre

00773

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The Aetna Life Insurance Company .of Canada agrees to pay the benefits specified by

the provisions of this policy.

The agreements made by the Company under this policy are subject to the provisions,

riders and endorsements stated on the following pages which are part of this contract.

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.Secretary President

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Important Notice -If you are advised to discontinue this policy and replace it with another,

it is in your best interest to insist that the new proposal is put in writing. Please submit it to

us for analysis so that you can compare the two and make an informed decision.

To claim a benefit or insurance proceeds. contact our nearest representative or write to

our Head Office.

Ten Day right to examine policy -Within 10 days of the receipt of this policy, the owner

may I return it. together with a written request for cancellation, to the Company. We will!

candel the coverage from the policy date and refund the premiums..Please read your policy carefully

8 Policy Contract Guide for Value Term

PageSection 1. Policy Record Information

Guarantee 1.1Policy Contract Guide 1.2Schedule of Benefits and Premiums 1.3Insurance Coverage 1.4Schedule of Renewal Premium 1.5

Section 2. Explanation of Terms :: 2.1

Section 3. General ProvisionsContract 3.1Benefits 3.1Payments of Premium and Claim 3.1Ownership 3.1Beneficiary 3.1Assignment 3.1

Section 4. Provisions Particular To Your Policy

Non-Participating 4.1Misstatement of Age or Sex 4.1Premiums and Renewal Provision 4.1Disclosure 4.1

Incontestability ,:; 4.1Suicide and Self-Inflicted Injuries 4.2Reinstatement , 4.2Grace Period 4.2Lapse 4.2Non-Smoker/Smoker Class , 4.2

8) ::~Section 5. Settlement Options 5.1

Section 6. Riders and BenefitsTotal Disability Premium Waiver Rider 6.1Accidental Death Benefit Rider 6.3Accidental Death and Dismemberment Rider 6.4Children's Protection Rider 6.2

Section 7. Appen~ix AGuaranteed Annual Smoker Premium Rates 7.1Guaranteed Annual Non-Smoker Premium Rates 7.2

8):.

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.Schedule of Benefits and Premiums

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Plan name: VALUE TERM

Policy number: V ALUETERM

Owner(s): JANE DOE

Policy date: 14 MARCH 1995

Premium: $1,042.00

Payment frequency: ANNUALLY

Method of payment: D1RECT BILL

Total annual premium:

(including Policy Fee) $1,042.00

Conversion expiry date: 14 MARCH 2034

.Plan termination date: 14 MARCH 2042

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This contract was verified by and prepared on 10 MAY 1995

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8! ~xplanation of Terms

! You and Your! :

The Terms "you" and "your" refer to the owner of this policy.

We, Us, Our and The Company

These terms refer to the Aetna Life Insurance Company of Canada.

Life Insured(s)

The Life Insured(s) named in the Schedule of Benefits and Premiums is the person orpersons at whose death the insurance proceeds will be payable.

Policy Date 1 .

The Policy Date shown in the Schedule of Benefits and Premiums, is the date thecoverage provided by this policy becomes effective. I-Policy Years and Policy Anniversaries

Policy years and policy anniversaries are measured from the policy date.:

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Insurance Coverag~ l'i:t .Coverage number: 01Life insured: JANE DOECoverage name: LIFESum insured: $500,000.00Insurance age: 31Sex: FEMALESmoker status: I NON-SMOKER -Accidental death benefit MOB): $200,000.00Waiver of premium (WP): I YES

Life initial annual premium' $440.00ADB annual premium: l $192.00

WP annual premium: $50.00 co.fEffective date: 14 MARCH 1995 Ii

Coverage number: 02Life insured: JANE DOECoverage name:: ACCIDENTAL DEATH AND DISMEMBERMENTSum insured: i, $100,000.00Insurance age: : 31

Sex: FEMALESmoker status: i NON-SMOKERLife initial annual premium: I $130.00 ~

.Effective date: 14 MARCH 1995 I .

Coverage number: 03Life insured: JANE DOECoverage name: CHILDREN"S PROTECTION RIDERSum insured: $5,000.00Insurance age: 31Sex: FEMALESmoker status: NON-SMOKER

Life initial annual premium: $30.00Effective date: 14 MARCH 1995

Coverage number: 04 .

Life insured: JANE DOECoverage name: FACE ENHANCEMENT RIDERSum insured: $250,000.00

,. Insurance age: 31f Sex: FEMALE

Smoker status: NON-SMOKER

Life initial annual premium: $110.00Effective date: 14 MARCH 1995

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General Provisions :

.1Contract I ,,8

Your contract consists of this policy, the application for this policy, any application forreinstatement of this policy and any written policy amendments agreed upon in writing afterthis policy has been issued.

Changes to or waiving of policy provisions must be in writing and authorized by an officerof the Company and initialled by one of our policy checkers. This policy is subject to anylegislation or regulatory requirements. I- "'~; I.~~

BenefitsI

The initial amounts of insurance and benefits on the Life Insured(s) are shown irj theSchedule of Benefits and Premiums. Changes in the amount of insurance or benefit aregoverned by the provisions of this contract. I

Payment of Premium and Claim .

All premiums are payable at our head office or at one of our agency offices or to 0 e of .our authorized agents.

Any amount payable on the death of a Life Insured will be paid when we re eivesatisfactory proof of the death of the Life Insured, the age of the Life Insured and the rightof the claimant to receive payment. We will make payment at any of our ottic s inCanada.

All payments to us or by us will be in Canadian dollars. I

Ownership I-While this policy is in force, you may exercise all your rights. options and privil ges.These rights. options and privileges may be limited by statute and by the rights of anybeneficiary that you have appointed irrevocably.

IBeneficiary .

Subject to the rights of any beneficiary, you may change the beneficiary at any time. !If nonamed beneficiary survives the Life Insured, the beneficiary will be the owner or the estateof the owner,

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AssignmentNo pssignment of this policy will be binding on us unless the assignment has been filed atour ;head office. We are not responsible for the legal effect of any assignment.

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,., Provisions Particular To Your P Ilcy

: .Non-Participating ~j This ,policy will not participate in the surplus of the Company. ,; r~

Misstatement of Age or Sex

The premiums for this policy are determined based on the Life Insured's insurance agewhich is the age attained at his/her birthday nearest the policy date, as shown in theSchedule of Benefits and Premiums.

We require satisfactory proof of the date of birth and sex of the Life Insured. If theinsurance age or sex has been misstated, any amount payable by us will be adjusted inaccordance with the correct age, sex and premium. I

Premiums and Renewal Provision .

All premiums after the first will be payable on premium due dates determined from thepolicy date and the payment frequency.

Until the Plan Termination Date, this policy, if in force, may be renewed for successive tenyear periods on payment of the applicable premium. The annual premium for each tenyear period subsequent to the first ten year period is equal to the sum insured shown inthe Schedule of Benefits and Premiums multiplied by the appropriate premium rate shownin Appendix A, divided by 1000. The appropriate premium rate depends on the suminsured and the Life Insured's sex and smoker status at the effective date of this coverageand insurance age at the renewal date.

i 8 i\ You may pay premiums annually, semi-annually or, monthly by an automatic payment~ system. The payment frequency may be changed only on an anniversary of the policy

date. A change may be made by paying the premium for a new payment period on orbefore the policy anniversary or within the grace period. When a new payment frequencyis selected, premiums will become payable on that basis.

If we introduce lower premium rates for this plan of insurance after this policy is in force,we will automatically reduce the premium rates on this policy, at the following renewaldate to the new rate based on the Life Insured's class of risk at issue and the insurance,age of the Life Insured at the renewal date.

The renewal premium rates will never exceed those shown in the Schedule of BenefitsI ' and Premiums. .

Disclosure ~ r,

You and each Life Insured must disclose in the application for this policy or in anyapplication for reinstatement, every fact which is material to the contract. Subject to theIncontestability provision, failure to do so or misrepresenting any material fact in theapplication will entitle us to cancel the coverage. If we do cancel the coverage allpremiums paid will be refunded without interest. I .!

Incontestability .'

Statements made in the application for this policy or in any application for reinstatement,; other than fraudulent statements, will be considered incontestable for any coverage after

that coverage has been in force during the lifetime of the Life Insured for a peri?? of two. ye.ars from either the effective date of that coverage or the date of a certificate of "

reinstatement. ",.\"~

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Suicide and Self-Inflicted Injuries

If the Ufe Insured while sane or insane commits suicide or dies from self-inflicted injuries: .18)

a) within 2 years from the policy date, the death benefit is t1e return of premiums paidwithout interest,

b) within 2 years of the effective date of reinstatement and after the policy has been in) fo~ce longer than 2 years, the death benefit is the premiums paid since the, reinstatement,

c) iwit~in 2 ye~rs of the effective date of a change which increases the_coverage of thei policy and IS made at your request. and after the policy has been in force longer than'12 years, the death benefit will be the original sum insured plus the premiums paid for! the increase in coverage since the effective date of the change.

Reinstatement I '.

This policy may be reinstated at any time within two years fro~ the date of lapse, on thefollowing conditions:

a) receipt by us of evidence satisfactory to us of the good health and insurability of thejUfe Insured determined on the same basis as when the coverage was issued;

b) .1~receiPt by us of payment of all overdue premiums with interest

c) issuance by us of a certificate of reinstatement.

1Grace Period .

.A grace period of 30 days will be allowed for the payment of e ch premium after the first.I.If the Life Insured dies during the grace period. this policy will be considered to be in force ,

as if the premium had been paid but any unpaid premium will be deducted from the deathbenefit.Lapse .This policy will lapse and our liability will cease at the expiry of the grace period of anunpaid premium.

Non-Smoker/Smoker Class .

If the Life Insured whose insurance age at the policy date is 20 r greater is stated to be anon-smoker, premiums will be based on non-smoker rates. If a misstatement is maderegarding the Life Insured's smoking status, we have the right to cancel coverage on thatperson as described in the Disclosure and Incontestability provisions.

Face Enhancement Rider

fIf Face Enhancement Rider coverage is included in this poli y it will be shown in theSchedule of Benefits and Premiums.

Under this rider. the sum insured will increase automatically on each second policyanniversary during the first ten policy years by 10% of the original amount of insuranceissued.

The, renewal premium after the tenth policy year will be that req ired for the total amount ofinslj,:ance then in force.

The lrider will terminate at the end of the tenth policy year. 'i8' ~

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.Total Disability Premium Waiver ider

Definitions

"Total disability" and "totally disabled" mean a state of incapacity resulting from bodilyinjury or disease which during its first 24 months prevents the Life Insured from engagingin the Life Insured's occupation or employment. After 24 months of anyone continuousperiod of disability, the state of incapacity must prevent the Life Insured from engaging inany occupation or employment for which the Life Insured is qualified or may reasonablybecome qualified by reason of training, education or experience.

"Conversion Period" referred to in this rider is the conversion period stated in the policy.

Benefits I

If the Life Insured becomes totally disabled while this rider is in force and prior to thepolicy anniversary nearest the Life Insured's 60th birthday, and has been continuouslydisabled for at least 6 months, we will on receiving satisfactory proof of total disabilitygrant the following benefits subject to the terms and conditions of this rider:

Waiver of Premiums

We will waive payment of any premium falling due after the commencement and during theuninterrupted continuance of total disability. No premium which became due more than 12months prior to our receiving written notice of claim will be waived. The premium waivedwill be the premium according to the frequency of payment in effect when total disabilitycommenced and the premium frequency may not be changed during a period of disabilitywithout our consent.

,-e) Automatic Conversion of Policy

.; If this policy and rider are in force at the end of the conversion period and the Life Insured; is then totally disabled and has been continuously disabled for at least 6 months, this

policy will be converted automatically to a new policy of an individual life non-participatingplan in accordance with the conversion option in the policy. The new policy will containthe total disability premium waiver rider which is included by us in individual life policieswith the same policy date as this policy. The premium for the new policy will be waivedduring the uninterrupted continuance of total disability.

~E .. xceptlons

No premium will be waived if total disability results directly or in irectly from;i!

(1) self inflicted injury. or .'. .:

(2) service in the military, naval or air force of any country or I~ternatlonal organization atwar, whether declared or not. I' .

Notice and Proof of Claim .'

If written notice of claim is not received by tiS at our head office during the continuance oftotal disability and prior to the policy anniversary nearest the Life Insured's 51st birthd:ay,the claim will be invalid. Proof of total disability must be received by us at our head officewithin 3 months of written notice of claim, otherwise the date of commencement of totaldisability. will be considered to be the date proof is received.

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.Satisfactory proof of age of the Life Insured must be received by us before a premium is .waived. If the age has been misstated and the correct insurance age of the Life Insuredat the effective date of this rider is greater than 55 years, this rider will be void and anyrider premiums paid will be refunded.

.I-Proof of Continuance of Total Disability

We may at any time request satisfactory proof of the continuance of total disability. Onfailure to furnish proof, the Life Insured will be considered to have ce?sed to be totallydisabled immediately prior to the date of request and there will be no further benefits underthis rider. At any time, we may request a medical examination by a medical examinerappointed by us.

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Recurrence of Total Disability : I-

If the Life Insured ceases to be totally disabled and again becomes totally disabled; aclaim will be allowed subject to the same terms and conditions as if there had been noprior disability.

Lapse While Totally Disabled

JI-: If this policy lapses while the Life Insured is totally disabled an

(a) proof of claim is received within 12 months after the date of lapse showing that as aresult of total disability the benefit under this rider would have been granted if thispolicy had remained in force, and

(b) we receive overdue premiums which would not have been waived under this rider with I.interest at a rate determined by us, then

this policy will be reinstated and the benefit will be the same as if this policy had notlapsed. 'I.Premium,The rider premium is stated in the Schedule of Benefits and Premiums or in anyapplication for change which requested the addition or amendment of this rider. Thepremium is payable during the premium paying period of the policy but not on or after thepolicy anniversary nearest the Life Insured's 60th birthday.

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Settlement Options.A payee is the person entitled to receive any death benefit payable by us under this policy.

During the lifetime of the Life Insured, you may elect to have the proceeds of the policypaid in accordance with one of the following options rather than in a single sum. .

If no election is made, the beneficiary may do so after the death of the Life Insured.

1. Trust Deposit -Proceeds may be left on deposit with us for no longer than the lifetimeof the payee with interest payable annually at a rate determined by us. The interestrate may change from time to time but will not be less than 3.5 percent per annum,compounded annually. When this option is chosen any amount on deposit at thedeath of the payee will be paid in one sum to the executors or administrators of the

, payee's estate.

2.1 I nstallment Payments -Proceeds may be applied to purchase any type of annuity that, is available from us at the date of the Life Insured's death. The rates for the annuity

will b.e rates then in use by us. In all cases, satisfactory proof of age and sex must besubmitted to us before annuity payments commence.

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Conversion Option :'~

.This policy, if in force, may be converted within the conversion period to any eligible plan

issued by us at the conversion date.

If the conversion option is exercised between the second and tenth policy anniversaries,we will reduce the first annual premium of the new policy by 20%.

The sum insured of the new policy may not exceed the sum insured of this policy at theconversion date or be less than the minimum for the plan selected.

The conversion will be made without evidence of insurability. The new policy may includethe same riders as this policy. However, if the new plan is other than a life plan requiringpayment of premiums until at least age 85, the continuation of a total disability rider will besubject to satisfactory evidence of insurability.

The conversion will be subject to our receiving a satisfactory written request and thispolicy for cancellation. Any indebtedness to us under this policy will remain a chargeagainst the new policy.

The policy date of the new policy will be the conversion date. The premium for the new

policy will be determined from:

(1) the premium rates in use by us on the conversion date for the Life Insured's insurance

age.

(2) the plan and amount of the new policy. ,-

(3) the class of risk applicable to the Life Insured under this policy at the conversion date.

The new policy will contain the same provisions and be subject to the same

.endorsements regularly included in policies issued by us on the conversion date.

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.) Children's Protection Ride

Definition .

"Child" includes a natural born child, step-child or legally adopted child of the LifeInsured. To be insured under this rider the child:

a} must be at least 15 days of age and less than an insurance age of 18.

b} must be named in the application for the rider, or become a "child" to the Life Insuredafter the date of application for the rider and while payment of premiums is required onthe policy to which this rider is attached. --

c} will be subject to approval of its good health and insurability if th-e child is other than an~tural born child of the Life Insured.

I ~ IBenefits L.,j,

The amount of insurance on the life of each child will be $1,000 for each unit of this riderand will be payable on receiving satisfactory proof of the child's death on or before thepolicy an_niversary nearest the child's 25th birthday.

B f..,- ene Iclary

Any benefit payable on the death of a child will be payable to you if living, otherwise to theLife Insured if living, otherwise to the beneficiary. If all have predeceased the child, thebenefit will be payable to the child's estate. I .

Waiver of Premiums .

8) On the death of the Life Insured we will waive all future premiums for this rider.

Conversion Options

Within 31 days prior to the policy anniversary nearest either the 21 st, 23rd or 25th birthday,or within 30 days following marriage prior to the policy anniversary nearest the 25thbirthday, any child insured under this rider may apply for a policy on his/her life withoutevidence of insurability. The total insurance coverage for any child under the new policy,any other policies issued under this option and any continuing coverage under this rider,must not exceed $10,000 for each unit of this rider. The new policy will be issued subjectto proof of age, to payment of the first premium and may be on any eligible plan ofinsurance issued by us at that time for the desired amount of insurance. The effectivedate and the policy date will be the option date selected and the premium will bedetermined from the premium rates in use by us at the option date for the then insuranceage.

IAutomatic Termination -

This rider will terminate automatically on the policy anniversary nearest the 25th birthdayof the last child insured under this rider to attain age 25 or on the termination of this policyor the endorsement of this policy as paid-up insurance. I-IncontestabilityStatements made in each of the application for this policy and for this rider, if later, or forreinstatement, other than fraudulent statements, will be considered incontestable after a.1\ period of 2 years from the effective date of this policy, the rider or reinstatement1

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Suicide and Self-Inflicted Injuries

18If the life insured while sane or insane dies by suicide or self-inflicted injury within 2 years )from the policy date of this policy, or the effective date of this rider. if later. or in the caseof reinstatement, from the date of the certificate of reinstatement, this rider will terminateand all rider premiums paid will be forfeited to us. If any child insured under this rider,while sane or insane dies by suicide or self-inflicted injury within these periods, theinsurance under this rider on the life of the child will be invalid and no payment will bemade by us.

Misstatement of Age or Sex and Reinstatement Provisions I -

The misstatement of age or sex and reinstatement provisions of this policy will also applyto all .Of the persons insured under this rider.

I ~~f.Premium [",\

The premium for this rider is stated in the Schedule of Benefits and Premiums or in thelatest application for change which requests the addition or amendment of this rider.

It is payable until the earliest of: ,-

a) the end of the premium paying period of the basic policy,

b) the policy anniversary nearest the 25th birthday of the last child insured under thisrider,..

c) the date of termination of the insurance under this rider on the last child insured.

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Accidental Death Benefit Rid r

, 8). Benefit ~;.:.,~

I When we receive satisfactory proof that the death of the Life Insured

(1) resulted directly and independently of all other causes from bodily injury causedsolely by external, violent and accidental means, and

(2) occurred while this policy and rider were in force and within 365 days of the date ofinjury, and

(3) the injury was received before the policy anniversary nearest the Life Insured's 70thbirthday,

we will pay, in addition to the sum insured, the amount of this rider as stated in theSchedule of Benefits and Premiums or in any application for change which requested theaddition or amendment of this rider and is part of the policy.

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Double Benefit .

The benefit under this rider will be doubled if death was caused by an accident while theLife Insured was a fare-paying passenger and not an operator or a crew member on apublic conveyance regularly used for passenger service.

E .I-xceptlons

The rider benefit is not payable if death results either directly or indirectly in whole or inpart from:

.(1) disease including heart attack and stroke, medical or surgical procedure,

(2) suicide or self-inflicted injuries while sane or insane,

(3) committing or attempting to commit a criminal offense, including being in care orcontrol of a motor vehicle while having a blood alcohol reading in excess of 80milligrams of alcohol per 100 millilitres of blood,

(4) civil disorder or war whether declared or not, .I-

(5) taking or inhaling any drug, poisonous substance or gas whether voluntary or not,

(6) travel in an aircraft if:

-the Life Insured was operating, learning to operate, or serving as a member of thecrew,

-the flight was for any training, testing, parachuting or experimental purpose,

-the flight was in any aircraft operated by, or under the direction of any military(land, sea or air) authorities.

Descent from any aircraft in flight is considered to be part of the flight.

Automatic Termination

This !rider will automatically terminate on the earliest of: ~

(1) the termination of the policy, d

(2) 365 days after the policy anniversary nearest the Life Insured's 70th birthday.

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Premium :'

The rider premium is stated in the Schedule of Benefits and Premiums or in any I-application for change which requested the addition or amendment of this rider. Thepremium is payable until the earlier of the end of the premium paying period of the basicpolicy or the policy anniversary nearest the Life Insured's 70th birthday.

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Accidental Death and Dismemberment Rider.This benefit provides coverage only on a person who is shown as insured for this benefit

in the Schedule of Benefits and Premiums or in any application for change whichrequested the addition or amendment of this rider and is part of the policy.

Benefit

If the Life Insured suffers injury which results in a loss listed below, and when we receivesatisfactory proof that

(1) the loss resulted directly and independently of all other causes from bodily injurycaused solely by external, violent and accidental means, and

(2) the loss occurred while this policy and rider were in force and within 365 days of thedate of injury, and

(3) the injury was received before the policy anniversary nearest the Life Insured's 65thbirthday,

we will pay, in addition to any other benefits payable under this policy, the amountspecified for the loss to the individual specified, as follows:

(1) the amount of the rider to the beneficiary for loss of life.

(2) the amount of the rider to the owner for the loss of: '"c;,(i) both hands or both feet or the sight of both eyes, ,J

(ii:1 one hand and one foot,

(iii) either hand or foot and the sight of one eye.

8) (3) one-half of the amount of the rider to the owner for the loss of either hand or foot, or: the loss of sight of one eye.

(4) one-quarter of the amount of the rider to the owner for the loss of the thumb or indexfinger.

Loss will mean, with regards to hands, feet, thumb or index finger, total and irrevocableloss of use; with regard to eyes, entire and irrevocable loss of sight.

i Only one amount (the larger, if more than one loss occurs) will be paid for injury sustainedat anyone time. II.Dou~le Benefit '

The Ibeneftt under this rider will be doubled if death was caused by an accident while theLife Iinsured was a fare-paying passenger and not an operator or a crew member on apublic conveyance regularly used for passenger service. I-Exceptions

The rider benefit is not payable if loss results either directly or indirectly in whole or in partfrom:!

: (1) disease including heart attack and stroke, medical or surgical procedure,

'! (2) suicide or self-inflicted injuries while sane or insane,;.

(3) committing or attempting to commit a criminal offense, includi.ng ~eing in care or8 tontrol of. a motor vehicle while having a blood alcohol reading In excess of 80

~ milligrams of alcohol per 100 millilitres of blood,

(4) tivil disorder or war whether declared or not,

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0 (5) taking .or inhaling any drug, poisonous substance or gas whether voluntary or not, I

.(6) travel In an aircraft if: .~ :.

-the Life Insured was operating, learning to operate, or serving as a member of thecrew,

-the flight was for any training, testing, parachuting or experimental purpose, ""

I -the flight was in any aircraft operated by or under the direction of any military (land,sea or air) authorities.

Descent from any aircraft in flight is considered to be part of the flight.

Automatic Termination It~':.:ft'i" 'if"

This rider will automatically terminate on the earliest of: : :~ , :"";"

(1) ; the termination of the policy,

(2)' 365 days after the policy anniversary nearest the Life Insured's 65th birthday.

Premium

The rider premium is stated in the Schedule of Benefits and Premiums or in anyapplication for change which requested the addition or amendment of this rider. Thepremium is payable until the earlier of the end of the premium paying period of the basicpolicy or the policy anniversary nearest the Life Insured's 65th birthday.

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CAI PA?nO \/1\1 T Ann 01non1

.APPENDIX A

GUARANTEED ANNUAL NON-SMOKER PREMIUM RATES,-i I

MALE FEMALE

00,000 to 500,000 to 1,000,000 to 100,000 to 500,000 to 1,000,000 to Issue499,999 999,999 1,999,999 499,999 999,999 1,999,999 Age

18-30 ,0.90 0.86 0.83 0.90 0.86 0.83 18-3031 i 0.93 0.89 0.86 0.90 0.86 0.83 3132 0.98 0.94 0.90 0.90 0.86 0.83 3233 1.03 0.99 0.96 0.90 0.86 0.83 3334 1.10 1.06 1.01 0.93 0.89 0.86 3435 1.19 1.14 1.09 0.98 0.94 0.90 3536 1.29 1.24 1.19 1.03 0.99 0.96 3637 1.40 1.35 1.29 1.10 1.06 1.01 3738 1.52 1.46 1.40 1.19 1.14 1.09 3839 1.66 1.60 1.54 1.29 1.24 1.19 39

40 1.81 1.75 1.68 1.40 1.35 1.29 4041 1.97 1.90 1.82 1.40 1.35 1.29 4142 2.14 2.07 1.98 1.52 1.46 1.40 4243 2.32 2.24 2.15 1.66 1.60 1.54 4344 2.53 2.44 2.33 1.81 1.75 1.68 -4445 2.74 2.65 2.54 1.97 1.90 1.82 4546 '2.95 2.86 2.74 2.14 2.07 1.98 4647 3.20 3.09 2.96 2.32 2.24 2.15 4748 3.47 3.35 3.21 2.53 2.44 2.33 4849 3.77 3.65 3.50 2.74 2.65 2.54 49

50 4.12 3.99 3.82 2.95 2.86 2.74 5051 4.51 4.37 4.18 3.20 3.09 2.96 5152 4.96 4.80 4.59 3.47 3.35 3.21 5253 .5.47 5.29 5.07 3.77 3.65 3.50 5354 .6.05 5.85 5.61 4.12 3.99 3.82 54

8 )55 6.71 6.19 6.22 4.51 4.37 4.18 55156 7.48 7.24 6.94 4.96 4.80 4.59 5657 8.34 8.07 7.74 5.47 5.29 5.07 5758 9.29 9.00 8.63 6.05 5.85. 5.61 5859 .10.34 10.01 9.60 6.71 6.19 6.22 59

60 11.49 11.12 10.57 7.48 7.24 6.94 6061 12.73 12.34 11.83 8.34 8.07 7.74 6162 i 14.09 13.65 13.08 9.29 9.00 8.63 6263 ! 15.54 15.05 14.43 10.34 10.01 9.60 63

i ,; 64 117.09 16.47 15.87 11.49 11.12 10.67 64

65 18.74 18.15 17.40 12.73 12.34 11.83 65,

66 120.93 20.28 19.44 14.09 13.65 13.08 6667 22.73 22.03 21.11 15.54 15.05 14.43 6768 24.65 23.89 22.90 17.09 16.47 15.87 68

I69 ! 26.52 25.80 24.73 18.74 18.15 17.40 69

70 i 29.81 28.90 27.70 20.93 20.28 19.44 7071 33.39 32.37 31.02 22.73 22.03 21.11 7172 137.40 36.25 34.74 24.65 23.89 22.90 72

!. 73 ,41.89 40.60 38.91 26.62 25.80 24.73 73, 74 ! 46.92 45.47 43.58 29.81 28.90 27.70 74!

75 ; 52.55 50.93 48.81 33.39 32.37 31.02 75

76 i 58.86 57.04 54.67 37.40 36.25 34.74 7677 ! 65.92 63.88 61.23 41.89 40.60 38.91 77

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I "1APPENDIX A

GUARANTEED ANNUAL SMOKER PREMIUM RATES

! I-i MALE FEMALE

Issue 100,000 to 500,000 to 1,000,000 to 100,000 to 500,000 to 1,000,000 to Issue 18 ; Age 499,999 999,999 1,999,999 499,999 999,999 1,999,999 Age''c

18-30 1.39 1.34 1.31 1.39 1.34 1.31 18-3031 1.54 1.48 1.45 1.39 1.34 1.31 3132 1.71 1.65 1.61 1.39 1.34 1.31 3233 1.88 1.81 1.77 1.39 1.34 1.31 3334 2.07 2.00 1.95 1.54 1.48 1.45 3435 2.27 2.19 2.15 1.71 1.65 1.61 3536 2.52 2.43 2.38 1.88 1.81 1.77 3637 2.77 2.67 2.61 2.07 2.00 1.95 3738 3.03 2.93 2.88 2.27 2.19 2.15 3839 3.31 3.21 3.15 2.52 2.43 2.38 39

40 3.61 3.49 3.42 2.77 2.67 2.61 4041 3.97 3.84 3.76 2.77 2.67 2.61 4142 4.34 4.21 4.12 3.03 2.93 2.88 4243 4.72 4.58 4.49 3.31 3.21 3.15 4344 5.13 4.98 4.88 3.61 3.49 3.42 4445 5.55 5.39 5.27 3.97 3.84 3.76 4546 6.00 5.82 5.70 4.34 4.21 4.12 4647 6.47 6.29 6.16 4.72 4.58 4.49 4748 6.98 6.78 6.63 5.13 4.98 4.88 4849 7.52 7.30 7.16 5.55 5.39 5.27 49

50 8.10 7.87 7.70 6.00 5.82 5.70 5051 8.70 8.45 8.27 6.47 6.29 6.16 5152 9.35 9.08 8.87 6.98 6.78 6.63 52

-53 10.07 9.78 9.56 7.52 7.30 7.16 5354 10.85 10.53 10.29 8.10 7.87 7.70 54 I55' 11.72 11.38 11.11 8.70 8.45 8.27 55 .56 12.67 12.29 11.99 9.35 9.08 8.87 56 .~57 13.69 13.29 12.96 10.07 9.78 9.56 5758 14.82 14.39 14.02 10.85 10.53 10.29 5859 16.04 15.57 15.16 11.72 11.38 11.11 59

60 17.36 16.85 16.39 12.67 12.29 11.99 6061 18.75 18.20 17.69 13.69 13.29 12.96 6162 20.24 19.65 19.08 14.82 14.39 14.02 6263 : 21.84 21.19 20.56 16.04 15.57 15.16 6364 23.53 22.74 22.14 17.36 16.85 16.39 6465 25.32 24.56 23.81 18.75 18.20 17.69 65;

i 66 27.85 27.01 26.34 20.24 19.65 19.08 66' ;, 67 29.98 29.09 28.36 21.84 21.19 20.56 67

i 68 32.26 31.31 .30.51 23.53 22.74 22.14 68' i 69 34.82 33.79 32.72 25.32 24.56 23.81 69

70 38.42 37.29 36.09 27.85 27.01 26.34 7071 '42.43 41.18 39.83 29.98 29.09 28.36 7172 ; 46.89 45.50 43.99 32.26 31.31 30.51 7273 i 51.85 50.31 48.62 34.82 33.79 32.72 7374 I 57.38 55.67 53.78 38.42 37.29 36.09 7475 i 63.53 61.64 59.52 42.43 41.18 39.83 7576 .70.39 68.29 62.92 46.89 45.50 43.99 7677 78.03 75.69 73.04 51.85 50.31 48.62 77

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Aetna Canada is pleased to provide you with this plan to

protect your future. I.

Should you have any questions, or if you feel it is necessary to

change or cancel your policy, please do not hesitate to take

advantage of our free reviewing service. This service is

provided by your Aetna Canada representative or our Head

.) Office. As a valued client we want to ensure you receive

proper consultation before you make a decision that could

cost you valuable protection and cause possible financial loss.

We welcome you as a member of the Aetna family and look

forward to being of service to you now and in the future.

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