i ndividual investment shelter - sun life financial · ndividual investment shelter prepared for:...

ndividual Investment Shelter

Prepared for: Louis Client & Marie Client

Prepared by:

I (a strategy utilizing exempt life insurance)

of 21 2012/08/09

Individual Investment Shelter(a strategy utilizing exempt life insurance)

Table of Contents1 About This Presentation 2 Summary Description Page 33 Analysis Page 44 Conclusion Page 55 Assumptions Page 66 Chart Page 77 Taxable Investment vs. IIS Strategy Page 88 Taxable Investment (Detailed Calculations) Page 109 Life Insurance (Detailed Calculations) Page 12

10 Values (Detailed Calculations) Page 14

If you have any questions, please feel free to contact me,

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About This Presentation:

Limitations on Values and Guarantees:

This presentation was prepared for information purposes only and is neither an insurance contract nor an offer to provide insurance. It does not form any part of any policy that may be issued and is not intended to provide or replace professional legal or tax advice. For your own specific situation, please consult your own tax and legal advisors.

This presentation contains figures extracted from the SunUniversalLife MAX illustration accompanying this presentation and bearing the same date. This presentation should be read together with that illustration and is incomplete without it. For example, the accompanying illustration contains policy values based on more than one interest rate scenario. Illustrating multiple scenarios shows how even a small change in interest assumptions can result in a significant reduction in policy values. Such changes would have a similar impact on the figures shown in this presentation.

Unless otherwise indicated, none of the figures shown in this presentation is guaranteed. They are based on assumptions that are certain to change and are neither an estimate nor a guarantee of future performance. Actual results will differ upward or downward and even a small change can have a large negative impact on the non-guaranteed figures in this presentation.

The tax treatment referenced in this concept is based on the current Canadian Federal Income Tax Act. Since tax legislation is subject to change, the tax treatment and illustrated numbers are not guaranteed.

This presentation contains figures extracted from the Sun Par Accumulator illustration accompanying this presentation and bearing the same date. This presentation should be read together with that illustration and is incomplete without it. For example, the accompanying illustration contains policy values based on more than one dividend scale scenario. Illustrating multiple scenarios shows how even a small change in dividend scale assumptions can result in a significant reduction in policy values. Such changes would have a similar impact on the figures shown in this presentation.



This presentation contains figures extracted from the Sun Par Protector illustration accompanying this presentation and bearing the same date. This presentation should be read together with that illustration and is incomplete without it. For example, the accompanying illustration contains policy values based on more than one dividend scale scenario. Illustrating multiple scenarios shows how even a small change in dividend scale assumptions can result in a significant reduction in policy values. Such changes would have a similar impact on the figures shown in this presentation.



This presentation contains figures extracted from the Sun Limited Pay Life illustration accompanying this presentation and bearing the same date. This presentation should be read together with that illustration and is incomplete without it. For example, the accompanying illustration contains policy values based on more than one interest rate scenario. Illustrating multiple scenarios shows how even a small change in interest assumptions can result in a significant reduction in policy values. Such changes would have a similar impact on the figures shown in this presentation.



This presentation contains figures extracted from the SunUniversalLife illustration accompanying this presentation and bearing the same date. This presentation should be read together with that illustration and is incomplete without it. For example, the accompanying illustration contains policy values based on more than one interest rate scenario. Illustrating multiple scenarios shows how even a small change in interest assumptions can result in a significant reduction in policy values. Such changes would have a similar impact on the figures shown in this presentation.



Page 2 of 21 2012/08/09


Prepared for: Louis Client & Marie ClientPrepared by:

Situation:l

Objective:l

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Problem:l

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Recommendation:

Comparison of Estate Values

The Individual Investment Shelter strategy (IIS) is a better way to achieve your objectives. The IIS strategy can increase the after-tax estate value of your assets, compared with using taxable investments (Please see the graph below).

You have significant assets in taxable investments.

You plan to draw income from these investments over time, but don’t expect to use up all of the investments during your lifetime.

These taxes will limit the after-tax value of the investments to your estate.

You plan to transfer the remaining wealth to your children or other beneficiaries after your death.

You would like to maximize the after-tax value of these investments to your estate.

The annual return on your investments is eroded by income taxes.

When investments are liquidated, any deferred capital gains are realized, and become taxable to you or your estate.

500

1000

1500

2000

2500

3000

64 67 70 73 76 79 82 85 88 91 94 97 100

Taxable: Estate Value IIS: Estate Value

Taxable: Asset Value IIS: Death Benefit

(in $ 000s)

Age of Primary Insured

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Analysis

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The Individual Investment Shelter (IIS) strategy uses a Universal Life insurance policy to accumulate funds on a tax-deferred basis during the insured’s lifetime, and pays out tax-free on death:

You purchase a Universal Life policy and make payments to the policy fund.

The cost of insurance is deducted from the policy fund, and the life insurance provides an immediate increase in your estate value.

Should unforeseen circumstances arise, you could always withdraw or borrow money from the policy’s cash value while the insured is living. Income tax may be payable on a portion or all of this money in the year of the transaction.

Growth accumulated in the policy is reinvested without deduction of income tax.

On the death of the insured person(s), the insurance amount and the policy fund value are paid out tax free.

You can direct the payment of the death benefit directly to a named beneficiary to avoid public scrutiny, estate settlement delays, and the estate settlement costs which would apply to investments in your estate.

The diagram below shows how the IIS strategy differs from a taxable investment on death, and compares the values at age 86.

Funds paid to the policy may be protected against seizure by your creditors during your lifetime and after your death provided certain conditions are met.

$ $Annual Tax on investment income

Taxable Investment

Income Tax on deferred capital gains

Liquidated Value available to pay to beneficiaries

After-tax value to beneficiaries

Estate Settlement Costs to distribute estate assets

$1,414,952

$1,383,995

No Annual Tax on growth accumulated in the policy

Universal Life Policy

No Tax on life insurance death benefit

Death Benefit available to pay to beneficiaries

After-tax value of beneficiaries

Estate Settlement Costs to distribute estate assets

$2,187,758

$2,170,948

Structure: Taxable Investments Structure: Individual Investment Shelter

Beneficiaries named in policy

No Estate Settlement Costs on Death

Benefits paid directly to beneficiaries

$30,957 $16,810

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Detailed Analysis:

Conclusion:

The attached ledger pages compare the projected values accumulated with the Individual Investment Shelter strategy, to those accumulated in taxable investments. Details on the insurance policy and taxable investments used in the comparison are specified on the ‘Assumptions’ page.

During the insured’s lifetime, the liquidation value of the Individual Investment Shelter strategy is usually less than the liquidation value of the taxable investments. Provided you are quite certain of your income requirements and are quite sure you won't need the capital during your lifetime, the financial advantages may outweigh theses drawbacks.

On the death of the insured, the value of the Individual Investment Shelter strategy is usually much higher than the value of the taxable investments. Since your objective is to maximize the value to your beneficiaries, the Individual Investment Shelter strategy may be a preferable option.

The Individual Investment Shelter strategy may fit your objectives better than taxable investments, since it may allow for a larger net value paid to your beneficiaries.

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Plan and Tax Assumptions

Marginal tax rate on interest: 45.00%Marginal tax rate on dividends: 31.00%Capital Gains Inclusion Rate: 50.00%

Insured Person: Louis Client & Marie ClientBenefit Type:Face Amount: 1,000,000UL Interest Rate: 5.00%

Insurance Funding: Fund from investment

Estate settlement Costs:Life Policy Beneficiaries:

Investment Assumptions

Investment Balance: 1,000,000Investment ACB: 800,000

Annual Portfolio Turnover: 25.00% * assumes zero transaction costs

Investment AllocationNow Age 65 Now Age 65

Cash: 0.0% 0.0% 0.0% 0.0%Bond Can.: 40.0% 60.0% 40.0% 60.0%Bond For.: 0.0% 0.0% 0.0% 0.0%Equity Can.: 60.0% 40.0% 60.0% 40.0%Equity For.: 0.0% 0.0% 0.0% 0.0%Equity US: 0.0% 0.0% 0.0% 0.0%Equity Small Cap: 0.0% 0.0% 0.0% 0.0%Weighted Return: 5.45% 5.05% 5.45% 5.05%

Investment Returns

Assumed Interest Dividend Capital RealizedReturn Gains Gains

Cash: 2.50% 100%Bond Can.: 4.25% 90% 10% 5%Bond For.: 4.25% 85% 15% 10%Equity Can.: 6.25% 20% 80% 20%Equity For.: 6.25% 10% 90% 20%Equity US: 6.25% 5% 95% 20%Equity Small Cap: 6.25% 100% 30%

Without IIS With IIS

$10,000 plus 0.5% of the first $50,000 plus 1.5% of the remainder.Named beneficiaries receive 100.00% of benefit.

SunUniversalLife MAX Sun Par AccumulatorSun Par ProtectorSun Limited Pay Life SunUniversalLife

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Liquidation Values

Estate Values

500

1000

1500

2000

2500

64 67 70 73 76 79 82 85 88 91 94 97 100

Taxable: Liquidation Value IIS: Liquidation Value

Taxable: Asset Value IIS: Asset Value

500

1000

1500

2000

2500

3000

64 67 70 73 76 79 82 85 88 91 94 97 100

Taxable: Estate Value IIS: Estate Value

Taxable: Asset Value IIS: Death Benefit

(in $ 000s)

(in $ 000s)



of 21 2012/08/09


Taxable Investment IIS StrategyAnnual Net Annual Net Net to Policy Policy Policy Net Net to Net Net to

Personal Income Investment Balance on Beneficiaries Payment & Surrender Death Investment Balance on Individual Balance on BeneficiariesYr. Age Payments Withdrawal Balance Liquidation (Death) S.Acc. Tax Value Benefit Balance Liquidation (Liquidation) Death (Death)

1 64 0 0 1,031,230 993,158 968,189 50,000 19,243 1,035,133 976,856 960,493 960,493 1,976,383 1,952,2302 65 0 20,000 1,038,043 1,007,083 982,012 50,000 43,163 1,074,943 928,646 944,837 944,837 1,976,617 1,953,1873 66 0 20,000 1,047,025 1,021,237 996,032 50,000 69,236 1,116,906 881,346 929,716 929,716 1,977,386 1,954,6664 67 0 20,000 1,057,734 1,035,692 1,010,326 50,000 113,470 1,161,140 834,214 931,170 931,170 1,978,840 1,956,8265 68 0 20,000 1,069,847 1,050,507 1,024,959 50,000 160,096 1,207,766 786,714 933,434 933,434 1,981,104 1,959,8036 69 0 20,000 1,083,136 1,065,728 1,039,981 50,000 209,245 1,256,915 738,453 936,628 936,628 1,984,298 1,963,7217 70 0 20,000 1,097,434 1,081,395 1,055,434 50,000 261,053 1,308,723 689,140 940,862 940,862 1,988,532 1,968,6958 71 0 20,000 1,112,628 1,097,542 1,071,352 50,000 315,664 1,363,334 638,555 946,244 946,244 1,993,914 1,974,8369 72 0 20,000 1,128,639 1,114,198 1,087,768 50,000 389,119 1,420,899 586,529 968,773 968,773 2,000,553 1,982,255

10 73 0 20,000 1,145,412 1,131,391 1,104,710 50,000 465,689 1,481,579 532,925 982,242 982,242 2,008,562 1,991,06811 74 0 20,000 1,162,917 1,149,148 1,122,204 0 493,898 1,493,898 530,019 989,589 989,589 2,018,089 2,000,63912 75 0 20,000 1,181,135 1,167,491 1,140,274 0 506,884 1,506,884 527,038 987,635 987,635 2,028,186 2,010,78013 76 0 20,000 1,200,057 1,186,446 1,158,945 0 520,573 1,520,573 523,973 985,045 985,045 2,038,885 2,021,52614 77 0 20,000 1,219,685 1,206,035 1,178,240 0 535,002 1,535,002 520,816 981,746 981,746 2,050,222 2,032,91015 78 0 20,000 1,240,026 1,226,283 1,198,183 0 550,211 1,550,211 517,561 977,624 977,624 2,062,233 2,044,96916 79 0 20,000 1,261,092 1,247,213 1,218,797 0 566,243 1,566,243 514,201 971,173 971,173 2,074,957 2,057,74417 80 0 20,000 1,282,898 1,268,850 1,240,107 0 583,143 1,583,143 510,732 963,749 963,749 2,088,437 2,071,27618 81 0 20,000 1,305,462 1,291,219 1,262,137 0 600,957 1,600,957 507,149 955,217 955,217 2,102,715 2,085,60719 82 0 20,000 1,328,805 1,314,345 1,284,913 0 619,735 1,619,735 503,446 945,462 945,462 2,117,836 2,100,78420 83 0 20,000 1,352,950 1,338,254 1,308,459 0 639,528 1,639,528 499,619 934,408 934,408 2,133,848 2,116,85321 84 0 20,000 1,377,921 1,362,972 1,332,804 0 660,393 1,660,393 495,664 922,009 922,009 2,150,803 2,133,86822 85 0 20,000 1,403,745 1,388,529 1,357,973 0 682,386 1,682,386 491,575 908,281 908,281 2,168,754 2,151,88123 86 0 20,000 1,430,449 1,414,952 1,383,995 0 705,569 1,705,569 487,348 893,128 893,128 2,187,758 2,170,94824 87 0 20,000 1,458,061 1,442,271 1,410,900 0 730,006 1,730,006 482,979 879,371 879,371 2,207,874 2,191,12925 88 0 20,000 1,486,613 1,470,516 1,438,717 0 755,765 1,755,765 478,461 889,071 889,071 2,229,165 2,212,48826 89 0 20,000 1,516,135 1,499,719 1,467,477 0 782,918 1,782,918 473,790 899,386 899,386 2,251,699 2,235,09227 90 0 20,000 1,546,659 1,529,912 1,497,212 0 811,539 1,811,539 468,962 910,351 910,351 2,275,544 2,259,01028 91 0 0 1,599,169 1,581,801 1,548,313 0 841,709 1,841,709 484,913 942,678 942,678 2,321,447 2,304,67429 92 0 0 1,653,448 1,635,451 1,601,149 0 873,512 1,873,512 501,395 976,439 976,439 2,369,519 2,352,49830 93 0 0 1,709,560 1,690,922 1,655,779 0 907,034 1,907,034 518,428 1,011,697 1,011,697 2,419,862 2,402,585


A detailed definition of each column is available on request. of 21 2012/08/09


Taxable Investment IIS StrategyAnnual Net Annual Net Net to Policy Policy Policy Net Net to Net Net to

Personal Income Investment Balance on Beneficiaries Payment & Surrender Death Investment Balance on Individual Balance on BeneficiariesYr. Age Payments Withdrawal Balance Liquidation (Death) S.Acc. Tax Value Benefit Balance Liquidation (Liquidation) Death (Death)


31 94 0 0 1,767,569 1,748,276 1,712,262 0 942,371 1,942,371 536,032 1,048,524 1,048,524 2,472,591 2,455,05132 95 0 0 1,827,540 1,807,575 1,770,662 0 979,618 1,979,618 554,229 1,086,994 1,086,994 2,527,822 2,510,00833 96 0 0 1,889,542 1,868,887 1,831,044 0 1,018,881 2,018,881 573,039 1,127,181 1,127,181 2,585,678 2,567,58334 97 0 0 1,953,644 1,932,279 1,893,474 0 1,060,269 2,060,269 592,485 1,169,170 1,169,170 2,646,291 2,627,90435 98 0 0 2,019,919 1,997,821 1,958,022 0 1,103,895 2,103,895 612,588 1,213,041 1,213,041 2,709,794 2,691,10536 99 0 0 2,088,440 2,065,587 2,024,760 0 1,149,881 2,149,881 633,372 1,258,886 1,258,886 2,776,332 2,757,33137 100 0 0 2,159,284 2,135,651 2,093,762 0 1,198,355 2,198,355 654,860 1,306,795 1,306,795 2,846,055 2,826,732



Annual Income Annual Annual Annual Annual Tax on Deferred Net Estate Net toPersonal from Interest Dividend Realized Deferred Investment Investment Capital Tax on Balance on Settlement Beneficiaries

Yr. Age Payments Withdrawals Income Income Gains Gains Income Balance Gains Liquidation Liquidation Costs (Death)

1 64 0 0 15,300 7,500 6,085 25,615 23,270 1,031,230 169,211 38,073 993,158 24,968 968,1892 65 0 20,000 23,208 5,056 4,174 18,629 24,254 1,038,043 137,599 30,960 1,007,083 25,071 982,0123 66 0 20,000 23,364 5,090 4,202 18,755 22,429 1,047,025 114,614 25,788 1,021,237 25,205 996,0324 67 0 20,000 23,570 5,135 4,239 18,920 21,156 1,057,734 97,962 22,041 1,035,692 25,366 1,010,3265 68 0 20,000 23,816 5,189 4,283 19,118 20,292 1,069,847 85,957 19,340 1,050,507 25,548 1,024,9596 69 0 20,000 24,094 5,249 4,333 19,341 19,729 1,083,136 77,367 17,407 1,065,728 25,747 1,039,9817 70 0 20,000 24,399 5,316 4,388 19,586 19,390 1,097,434 71,286 16,039 1,081,395 25,962 1,055,4348 71 0 20,000 24,727 5,387 4,447 19,849 19,216 1,112,628 67,052 15,087 1,097,542 26,189 1,071,3529 72 0 20,000 25,076 5,463 4,510 20,129 19,168 1,128,639 64,180 14,441 1,114,198 26,430 1,087,768

10 73 0 20,000 25,443 5,543 4,576 20,424 19,212 1,145,412 62,316 14,021 1,131,391 26,681 1,104,71011 74 0 20,000 25,828 5,627 4,645 20,733 19,329 1,162,917 61,198 13,770 1,149,148 26,944 1,122,20412 75 0 20,000 26,230 5,715 4,717 21,055 19,500 1,181,135 60,638 13,644 1,167,491 27,217 1,140,27413 76 0 20,000 26,648 5,806 4,793 21,391 19,715 1,200,057 60,495 13,611 1,186,446 27,501 1,158,94514 77 0 20,000 27,082 5,900 4,871 21,740 19,965 1,219,685 60,668 13,650 1,206,035 27,795 1,178,24015 78 0 20,000 27,533 5,998 4,952 22,101 20,243 1,240,026 61,082 13,743 1,226,283 28,100 1,198,18316 79 0 20,000 28,000 6,100 5,036 22,476 20,546 1,261,092 61,683 13,879 1,247,213 28,416 1,218,79717 80 0 20,000 28,483 6,205 5,123 22,864 20,870 1,282,898 62,432 14,047 1,268,850 28,743 1,240,10718 81 0 20,000 28,984 6,314 5,213 23,266 21,212 1,305,462 63,300 14,243 1,291,219 29,082 1,262,13719 82 0 20,000 29,501 6,427 5,306 23,681 21,573 1,328,805 64,266 14,460 1,314,345 29,432 1,284,91320 83 0 20,000 30,037 6,544 5,402 24,111 21,950 1,352,950 65,316 14,696 1,338,254 29,794 1,308,45921 84 0 20,000 30,591 6,665 5,502 24,556 22,343 1,377,921 66,439 14,949 1,362,972 30,169 1,332,80422 85 0 20,000 31,164 6,790 5,605 25,016 22,751 1,403,745 67,627 15,216 1,388,529 30,556 1,357,97323 86 0 20,000 31,757 6,919 5,711 25,492 23,175 1,430,449 68,876 15,497 1,414,952 30,957 1,383,99524 87 0 20,000 32,370 7,052 5,822 25,984 23,615 1,458,061 70,182 15,791 1,442,271 31,371 1,410,90025 88 0 20,000 33,004 7,190 5,936 26,493 24,071 1,486,613 71,543 16,097 1,470,516 31,799 1,438,71726 89 0 20,000 33,659 7,333 6,053 27,019 24,542 1,516,135 72,959 16,416 1,499,719 32,242 1,467,47727 90 0 20,000 34,336 7,481 6,175 27,563 25,031 1,546,659 74,429 16,746 1,529,912 32,700 1,497,21228 91 0 0 35,496 7,733 6,384 28,493 25,596 1,599,169 77,191 17,368 1,581,801 33,488 1,548,31329 92 0 0 36,701 7,996 6,601 29,461 26,478 1,653,448 79,989 17,998 1,635,451 34,302 1,601,14930 93 0 0 37,947 8,267 6,825 30,461 27,387 1,709,560 82,837 18,638 1,690,922 35,143 1,655,779


Taxable Investments



Annual Income Annual Annual Annual Annual Tax on Deferred Net Estate Net toPersonal from Interest Dividend Realized Deferred Investment Investment Capital Tax on Balance on Settlement Beneficiaries

Yr. Age Payments Withdrawals Income Income Gains Gains Income Balance Gains Liquidation Liquidation Costs (Death)


Taxable Investments

31 94 0 0 39,234 8,548 7,056 31,494 28,324 1,767,569 85,749 19,293 1,748,276 36,014 1,712,26232 95 0 0 40,566 8,838 7,296 32,563 29,291 1,827,540 88,734 19,965 1,807,575 36,913 1,770,66233 96 0 0 41,942 9,138 7,543 33,668 30,289 1,889,542 91,801 20,655 1,868,887 37,843 1,831,04434 97 0 0 43,365 9,448 7,799 34,810 31,320 1,953,644 94,959 21,366 1,932,279 38,805 1,893,47435 98 0 0 44,836 9,768 8,064 35,991 32,385 2,019,919 98,212 22,098 1,997,821 39,799 1,958,02236 99 0 0 46,357 10,100 8,337 37,212 33,485 2,088,440 101,568 22,853 2,065,587 40,827 2,024,76037 100 0 0 47,930 10,442 8,620 38,474 34,622 2,159,284 105,032 23,632 2,135,651 41,889 2,093,762


Prepared for: Louis Client & Marie ClientPrepared by: Insurance deposit funded from taxable investment

Annual Withdrawal Tax on Policy Policy Income Annual Annual Annual Annual Tax on DeferredPersonal for Policy Service Cash Death from Interest Dividend Realized Deferred Investment Investment Capital

Yr. Age Payments Payment Account Value Benefit Withdrawals Income Income Gains Gains Income Balance Gains

1 64 0 50,000 0 19,243 1,035,133 0 14,535 7,125 5,781 24,334 24,919 976,856 158,2512 65 0 50,000 0 43,163 1,074,943 20,000 20,812 4,534 3,743 16,707 24,006 928,646 119,8783 66 0 50,000 0 69,236 1,116,906 20,000 19,706 4,293 3,544 15,818 20,662 881,346 92,7364 67 0 50,000 0 113,470 1,161,140 20,000 18,620 4,057 3,349 14,947 18,105 834,214 73,3975 68 0 50,000 0 160,096 1,207,766 20,000 17,539 3,821 3,154 14,079 16,093 786,714 59,4486 69 0 50,000 0 209,245 1,256,915 20,000 16,449 3,584 2,958 13,204 14,455 738,453 49,1997 70 0 50,000 0 261,053 1,308,723 20,000 15,341 3,342 2,759 12,315 13,070 689,140 41,4728 71 0 50,000 0 315,664 1,363,334 20,000 14,209 3,096 2,555 11,406 11,851 638,555 35,4469 72 0 50,000 0 389,119 1,420,899 20,000 13,048 2,843 2,347 10,474 10,738 586,529 30,554

10 73 0 50,000 0 465,689 1,481,579 20,000 11,854 2,583 2,132 9,516 9,689 532,925 26,40611 74 0 0 0 493,898 1,493,898 20,000 11,772 2,565 2,117 9,449 8,808 530,019 25,90112 75 0 0 0 506,884 1,506,884 20,000 11,705 2,550 2,105 9,396 8,737 527,038 25,49513 76 0 0 0 520,573 1,520,573 20,000 11,637 2,535 2,093 9,341 8,670 523,973 25,15914 77 0 0 0 535,002 1,535,002 20,000 11,566 2,520 2,080 9,284 8,608 520,816 24,87315 78 0 0 0 550,211 1,550,211 20,000 11,494 2,504 2,067 9,226 8,547 517,561 24,61916 79 0 0 0 566,243 1,566,243 20,000 11,419 2,488 2,054 9,166 8,486 514,201 24,38817 80 0 0 0 583,143 1,583,143 20,000 11,342 2,471 2,040 9,104 8,426 510,732 24,17018 81 0 0 0 600,957 1,600,957 20,000 11,262 2,454 2,025 9,041 8,365 507,149 23,96219 82 0 0 0 619,735 1,619,735 20,000 11,180 2,436 2,011 8,975 8,304 503,446 23,75720 83 0 0 0 639,528 1,639,528 20,000 11,095 2,417 1,995 8,906 8,241 499,619 23,55421 84 0 0 0 660,393 1,660,393 20,000 11,007 2,398 1,980 8,836 8,176 495,664 23,34922 85 0 0 0 682,386 1,682,386 20,000 10,916 2,378 1,963 8,763 8,110 491,575 23,14223 86 0 0 0 705,569 1,705,569 20,000 10,823 2,358 1,946 8,688 8,041 487,348 22,93124 87 0 0 0 730,006 1,730,006 20,000 10,726 2,337 1,929 8,610 7,971 482,979 22,71425 88 0 0 0 755,765 1,755,765 20,000 10,625 2,315 1,911 8,529 7,898 478,461 22,49226 89 0 0 0 782,918 1,782,918 20,000 10,522 2,292 1,892 8,446 7,823 473,790 22,26327 90 0 0 0 811,539 1,811,539 20,000 10,414 2,269 1,873 8,360 7,745 468,962 22,02828 91 0 0 0 841,709 1,841,709 0 10,763 2,345 1,936 8,639 7,731 484,913 23,00029 92 0 0 0 873,512 1,873,512 0 11,129 2,425 2,001 8,933 8,006 501,395 23,95030 93 0 0 0 907,034 1,907,034 0 11,507 2,507 2,070 9,237 8,288 518,428 24,890


IIS Strategy (Annual Activity)



Annual Withdrawal Tax on Policy Policy Income Annual Annual Annual Annual Tax on DeferredPersonal for Policy Service Cash Death from Interest Dividend Realized Deferred Investment Investment Capital

Yr. Age Payments Payment Account Value Benefit Withdrawals Income Income Gains Gains Income Balance Gains


IIS Strategy (Annual Activity)

31 94 0 0 0 942,371 1,942,371 0 11,898 2,592 2,140 9,551 8,576 536,032 25,83132 95 0 0 0 979,618 1,979,618 0 12,302 2,680 2,212 9,875 8,873 554,229 26,77933 96 0 0 0 1,018,881 2,018,881 0 12,720 2,771 2,288 10,210 9,178 573,039 27,74234 97 0 0 0 1,060,269 2,060,269 0 13,151 2,865 2,365 10,557 9,493 592,485 28,72435 98 0 0 0 1,103,895 2,103,895 0 13,598 2,962 2,445 10,915 9,817 612,588 29,73036 99 0 0 0 1,149,881 2,149,881 0 14,059 3,063 2,528 11,285 10,152 633,372 30,76137 100 0 0 0 1,198,355 2,198,355 0 14,536 3,167 2,614 11,668 10,498 654,860 31,822



Policy Policy Gross Deferred Net Gross Estate Net to Investment Cash Death Liquidation Capital Policy Tax on Balance on Value on Direct to Tax on Settlement Beneficiaries

Yr. Age Balance Value Benefit Value Gains Gains Liquidation Liquidation Death Beneficiaries Death Costs (Death)

1 64 976,856 19,243 1,035,133 996,099 158,251 0 35,606 960,493 2,011,989 1,035,133 35,606 24,153 1,952,2302 65 928,646 43,163 1,074,943 971,809 119,878 0 26,973 944,837 2,003,589 1,074,943 26,973 23,430 1,953,1873 66 881,346 69,236 1,116,906 950,582 92,736 0 20,866 929,716 1,998,252 1,116,906 20,866 22,720 1,954,6664 67 834,214 113,470 1,161,140 947,684 73,397 0 16,514 931,170 1,995,354 1,161,140 16,514 22,013 1,956,8265 68 786,714 160,096 1,207,766 946,810 59,448 0 13,376 933,434 1,994,480 1,207,766 13,376 21,301 1,959,8036 69 738,453 209,245 1,256,915 947,698 49,199 0 11,070 936,628 1,995,368 1,256,915 11,070 20,577 1,963,7217 70 689,140 261,053 1,308,723 950,193 41,472 0 9,331 940,862 1,997,863 1,308,723 9,331 19,837 1,968,6958 71 638,555 315,664 1,363,334 954,219 35,446 0 7,975 946,244 2,001,889 1,363,334 7,975 19,078 1,974,8369 72 586,529 389,119 1,420,899 975,648 30,554 0 6,875 968,773 2,007,428 1,420,899 6,875 18,298 1,982,255

10 73 532,925 465,689 1,481,579 998,614 26,406 23,178 16,371 982,242 2,014,504 1,481,579 5,941 17,494 1,991,06811 74 530,019 493,898 1,493,898 1,023,917 25,901 63,333 34,328 989,589 2,023,917 1,493,898 5,828 17,450 2,000,63912 75 527,038 506,884 1,506,884 1,033,922 25,495 90,113 46,287 987,635 2,033,922 1,506,884 5,736 17,406 2,010,78013 76 523,973 520,573 1,520,573 1,044,546 25,159 119,644 59,501 985,045 2,044,546 1,520,573 5,661 17,360 2,021,52614 77 520,816 535,002 1,535,002 1,055,818 24,873 152,169 74,072 981,746 2,055,818 1,535,002 5,596 17,312 2,032,91015 78 517,561 550,211 1,550,211 1,067,772 24,619 188,020 90,148 977,624 2,067,772 1,550,211 5,539 17,263 2,044,96916 79 514,201 566,243 1,566,243 1,080,444 24,388 230,631 109,271 971,173 2,080,444 1,566,243 5,487 17,213 2,057,74417 80 510,732 583,143 1,583,143 1,093,875 24,170 277,084 130,126 963,749 2,093,875 1,583,143 5,438 17,161 2,071,27618 81 507,149 600,957 1,600,957 1,108,106 23,962 327,773 152,889 955,217 2,108,106 1,600,957 5,391 17,107 2,085,60719 82 503,446 619,735 1,619,735 1,123,181 23,757 383,053 177,719 945,462 2,123,181 1,619,735 5,345 17,052 2,100,78420 83 499,619 639,528 1,639,528 1,139,147 23,554 443,200 204,740 934,408 2,139,147 1,639,528 5,300 16,994 2,116,85321 84 495,664 660,393 1,660,393 1,156,057 23,349 508,431 234,048 922,009 2,156,057 1,660,393 5,254 16,935 2,133,86822 85 491,575 682,386 1,682,386 1,173,961 23,142 578,829 265,680 908,281 2,173,961 1,682,386 5,207 16,874 2,151,88123 86 487,348 705,569 1,705,569 1,192,917 22,931 654,733 299,789 893,128 2,192,917 1,705,569 5,159 16,810 2,170,94824 87 482,979 730,006 1,730,006 1,212,985 22,714 730,007 333,614 879,371 2,212,985 1,730,006 5,111 16,745 2,191,12925 88 478,461 755,765 1,755,765 1,234,226 22,492 755,764 345,155 889,071 2,234,226 1,755,765 5,061 16,677 2,212,48826 89 473,790 782,918 1,782,918 1,256,708 22,263 782,918 357,322 899,386 2,256,708 1,782,918 5,009 16,607 2,235,09227 90 468,962 811,539 1,811,539 1,280,501 22,028 811,540 370,149 910,351 2,280,501 1,811,539 4,956 16,534 2,259,01028 91 484,913 841,709 1,841,709 1,326,622 23,000 841,709 383,944 942,678 2,326,622 1,841,709 5,175 16,774 2,304,67429 92 501,395 873,512 1,873,512 1,374,907 23,950 873,511 398,469 976,439 2,374,907 1,873,512 5,389 17,021 2,352,49830 93 518,428 907,034 1,907,034 1,425,462 24,890 907,033 413,765 1,011,697 2,425,462 1,907,034 5,600 17,276 2,402,585


IIS Strategy (Values to Individual or Beneficiaries)



Policy Policy Gross Deferred Net Gross Estate Net to Investment Cash Death Liquidation Capital Policy Tax on Balance on Value on Direct to Tax on Settlement Beneficiaries

Yr. Age Balance Value Benefit Value Gains Gains Liquidation Liquidation Death Beneficiaries Death Costs (Death)


IIS Strategy (Values to Individual or Beneficiaries)

31 94 536,032 942,371 1,942,371 1,478,403 25,831 942,371 429,879 1,048,524 2,478,403 1,942,371 5,812 17,540 2,455,05132 95 554,229 979,618 1,979,618 1,533,847 26,779 979,618 446,853 1,086,994 2,533,847 1,979,618 6,025 17,813 2,510,00833 96 573,039 1,018,881 2,018,881 1,591,920 27,742 1,018,882 464,739 1,127,181 2,591,920 2,018,881 6,242 18,096 2,567,58334 97 592,485 1,060,269 2,060,269 1,652,754 28,724 1,060,269 483,584 1,169,170 2,652,754 2,060,269 6,463 18,387 2,627,90435 98 612,588 1,103,895 2,103,895 1,716,483 29,730 1,103,896 503,442 1,213,041 2,716,483 2,103,895 6,689 18,689 2,691,10536 99 633,372 1,149,881 2,149,881 1,783,253 30,761 1,149,880 524,367 1,258,886 2,783,253 2,149,881 6,921 19,001 2,757,33137 100 654,860 1,198,355 2,198,355 1,853,215 31,822 1,198,356 546,420 1,306,795 2,853,215 2,198,355 7,160 19,323 2,826,732


Investment

Year Age Deposits Interest Dividend Capital Gain (realized)

Capital Gain (unrealized)

Investment Growth Interest Dividend Capital Gains Investment

Income

1 64 0 15,300 7,500 6,085 25,615 54,500 15,300 7,500 62,489 85,2892 65 0 23,208 5,056 4,174 18,629 51,067 23,208 5,056 54,416 82,6803 66 0 23,364 5,090 4,202 18,755 51,411 23,364 5,090 45,941 74,3964 67 0 23,570 5,135 4,239 18,920 51,865 23,570 5,135 39,812 68,5175 68 0 23,816 5,189 4,283 19,118 52,406 23,816 5,189 35,405 64,4106 69 0 24,094 5,249 4,333 19,341 53,017 24,094 5,249 32,265 61,6087 70 0 24,399 5,316 4,388 19,586 53,688 24,399 5,316 30,055 59,7698 71 0 24,727 5,387 4,447 19,849 54,410 24,727 5,387 28,530 58,6449 72 0 25,076 5,463 4,510 20,129 55,178 25,076 5,463 27,510 58,049

10 73 0 25,443 5,543 4,576 20,424 55,986 25,443 5,543 26,864 57,85111 74 0 25,828 5,627 4,645 20,733 56,833 25,828 5,627 26,495 57,95112 75 0 26,230 5,715 4,717 21,055 57,717 26,230 5,715 26,333 58,27813 76 0 26,648 5,806 4,793 21,391 58,637 26,648 5,806 26,327 58,78014 77 0 27,082 5,900 4,871 21,740 59,593 27,082 5,900 26,438 59,42015 78 0 27,533 5,998 4,952 22,101 60,584 27,533 5,998 26,639 60,17016 79 0 28,000 6,100 5,036 22,476 61,611 28,000 6,100 26,910 61,01017 80 0 28,483 6,205 5,123 22,864 62,675 28,483 6,205 27,238 61,92618 81 0 28,984 6,314 5,213 23,266 63,776 28,984 6,314 27,610 62,90819 82 0 29,501 6,427 5,306 23,681 64,916 29,501 6,427 28,021 63,95020 83 0 30,037 6,544 5,402 24,111 66,095 30,037 6,544 28,464 65,04521 84 0 30,591 6,665 5,502 24,556 67,314 30,591 6,665 28,935 66,19122 85 0 31,164 6,790 5,605 25,016 68,575 31,164 6,790 29,433 67,38723 86 0 31,757 6,919 5,711 25,492 69,879 31,757 6,919 29,955 68,63024 87 0 32,370 7,052 5,822 25,984 71,228 32,370 7,052 30,500 69,92225 88 0 33,004 7,190 5,936 26,493 72,622 33,004 7,190 31,067 71,26126 89 0 33,659 7,333 6,053 27,019 74,064 33,659 7,333 31,656 72,64827 90 0 34,336 7,481 6,175 27,563 75,555 34,336 7,481 32,268 74,08528 91 0 35,496 7,733 6,384 28,493 78,106 35,496 7,733 32,114 75,34329 92 0 36,701 7,996 6,601 29,461 80,758 36,701 7,996 33,264 77,96030 93 0 37,947 8,267 6,825 30,461 83,499 37,947 8,267 34,437 80,65131 94 0 39,234 8,548 7,056 31,494 86,333 39,234 8,548 35,639 83,42132 95 0 40,566 8,838 7,296 32,563 89,262 40,566 8,838 36,874 86,27733 96 0 41,942 9,138 7,543 33,668 92,291 41,942 9,138 38,144 89,22334 97 0 43,365 9,448 7,799 34,810 95,422 43,365 9,448 39,452 92,26535 98 0 44,836 9,768 8,064 35,991 98,659 44,836 9,768 40,801 95,40536 99 0 46,357 10,100 8,337 37,212 102,006 46,357 10,100 42,193 98,65037 100 0 47,930 10,442 8,620 38,474 105,466 47,930 10,442 43,631 102,003

of 21 2012/08/09

Investment

Year Age

1 642 653 664 675 686 697 708 719 72

10 7311 7412 7513 7614 7715 7816 7917 8018 8119 8220 8321 8422 8523 8624 8725 8826 8927 9028 9129 9230 9331 9432 9533 9634 9735 9836 9937 100

Tax on Investment

Income

Net Annual Withdrawal

Withdrawal Gains

Income tax on Gains

Investment Balance

Adjusted Cost Base

Tax on Liquidation Net Liquidation

Estate Settlement

Costs

Net to Beneficiaries

23,270 0 0 0 1,031,230 862,019 38,073 993,158 24,968 968,18924,254 20,000 3,282 738 1,038,043 900,444 30,960 1,007,083 25,071 982,01222,429 20,000 2,651 597 1,047,025 932,411 25,788 1,021,237 25,205 996,03221,156 20,000 2,189 493 1,057,734 959,772 22,041 1,035,692 25,366 1,010,32620,292 20,000 1,852 417 1,069,847 983,890 19,340 1,050,507 25,548 1,024,95919,729 20,000 1,607 362 1,083,136 1,005,769 17,407 1,065,728 25,747 1,039,98119,390 20,000 1,429 321 1,097,434 1,026,149 16,039 1,081,395 25,962 1,055,43419,216 20,000 1,299 292 1,112,628 1,045,577 15,087 1,097,542 26,189 1,071,35219,168 20,000 1,205 271 1,128,639 1,064,458 14,441 1,114,198 26,430 1,087,76819,212 20,000 1,137 256 1,145,412 1,083,097 14,021 1,131,391 26,681 1,104,71019,329 20,000 1,088 245 1,162,917 1,101,719 13,770 1,149,148 26,944 1,122,20419,500 20,000 1,052 237 1,181,135 1,120,497 13,644 1,167,491 27,217 1,140,27419,715 20,000 1,027 231 1,200,057 1,139,562 13,611 1,186,446 27,501 1,158,94519,965 20,000 1,008 227 1,219,685 1,159,018 13,650 1,206,035 27,795 1,178,24020,243 20,000 995 224 1,240,026 1,178,945 13,743 1,226,283 28,100 1,198,18320,546 20,000 985 222 1,261,092 1,199,409 13,879 1,247,213 28,416 1,218,79720,870 20,000 978 220 1,282,898 1,220,466 14,047 1,268,850 28,743 1,240,10721,212 20,000 973 219 1,305,462 1,242,162 14,243 1,291,219 29,082 1,262,13721,573 20,000 970 218 1,328,805 1,264,538 14,460 1,314,345 29,432 1,284,91321,950 20,000 967 218 1,352,950 1,287,634 14,696 1,338,254 29,794 1,308,45922,343 20,000 966 217 1,377,921 1,311,482 14,949 1,362,972 30,169 1,332,80422,751 20,000 964 217 1,403,745 1,336,118 15,216 1,388,529 30,556 1,357,97323,175 20,000 964 217 1,430,449 1,361,573 15,497 1,414,952 30,957 1,383,99523,615 20,000 963 217 1,458,061 1,387,880 15,791 1,442,271 31,371 1,410,90024,071 20,000 963 217 1,486,613 1,415,070 16,097 1,470,516 31,799 1,438,71724,542 20,000 962 217 1,516,135 1,443,176 16,416 1,499,719 32,242 1,467,47725,031 20,000 962 217 1,546,659 1,472,230 16,746 1,529,912 32,700 1,497,21225,596 0 0 0 1,599,169 1,521,977 17,368 1,581,801 33,488 1,548,31326,478 0 0 0 1,653,448 1,573,459 17,998 1,635,451 34,302 1,601,14927,387 0 0 0 1,709,560 1,626,723 18,638 1,690,922 35,143 1,655,77928,324 0 0 0 1,767,569 1,681,820 19,293 1,748,276 36,014 1,712,26229,291 0 0 0 1,827,540 1,738,807 19,965 1,807,575 36,913 1,770,66230,289 0 0 0 1,889,542 1,797,741 20,655 1,868,887 37,843 1,831,04431,320 0 0 0 1,953,644 1,858,686 21,366 1,932,279 38,805 1,893,47432,385 0 0 0 2,019,919 1,921,707 22,098 1,997,821 39,799 1,958,02233,485 0 0 0 2,088,440 1,986,872 22,853 2,065,587 40,827 2,024,76034,622 0 0 0 2,159,284 2,054,252 23,632 2,135,651 41,889 2,093,762

of 21 2012/08/09

IIS-Insurance

Year Age Premium Service Account Tax on Service Account

Net Cost of Insurance Withdrawal Tax on

Withdrawal Net Withdrawal Fund Value CSV Policy Gains

1 64 50,000 0 0 15,890 0 0 0 35,133 19,243 02 65 50,000 0 0 13,348 0 0 0 74,943 43,163 03 66 50,000 0 0 13,348 0 0 0 116,906 69,236 04 67 50,000 0 0 13,348 0 0 0 161,140 113,470 05 68 50,000 0 0 13,348 0 0 0 207,766 160,096 06 69 50,000 0 0 13,348 0 0 0 256,915 209,245 07 70 50,000 0 0 13,348 0 0 0 308,723 261,053 08 71 50,000 0 0 13,348 0 0 0 363,334 315,664 09 72 50,000 0 0 13,348 0 0 0 420,899 389,119 0

10 73 50,000 0 0 13,348 0 0 0 481,579 465,689 23,17811 74 0 0 0 13,348 0 0 0 493,898 493,898 63,33312 75 0 0 0 13,348 0 0 0 506,884 506,884 90,11313 76 0 0 0 13,348 0 0 0 520,573 520,573 119,64414 77 0 0 0 13,348 0 0 0 535,002 535,002 152,16915 78 0 0 0 13,348 0 0 0 550,211 550,211 188,02016 79 0 0 0 13,348 0 0 0 566,243 566,243 230,63117 80 0 0 0 13,348 0 0 0 583,143 583,143 277,08418 81 0 0 0 13,348 0 0 0 600,957 600,957 327,77319 82 0 0 0 13,348 0 0 0 619,735 619,735 383,05320 83 0 0 0 13,348 0 0 0 639,528 639,528 443,20021 84 0 0 0 13,348 0 0 0 660,393 660,393 508,43122 85 0 0 0 13,348 0 0 0 682,386 682,386 578,82923 86 0 0 0 13,348 0 0 0 705,569 705,569 654,73324 87 0 0 0 13,348 0 0 0 730,006 730,006 730,00725 88 0 0 0 13,348 0 0 0 755,765 755,765 755,76426 89 0 0 0 13,348 0 0 0 782,918 782,918 782,91827 90 0 0 0 13,348 0 0 0 811,539 811,539 811,54028 91 0 0 0 13,348 0 0 0 841,709 841,709 841,70929 92 0 0 0 13,348 0 0 0 873,512 873,512 873,51130 93 0 0 0 13,348 0 0 0 907,034 907,034 907,03331 94 0 0 0 13,348 0 0 0 942,371 942,371 942,37132 95 0 0 0 13,348 0 0 0 979,618 979,618 979,61833 96 0 0 0 13,348 0 0 0 1,018,881 1,018,881 1,018,88234 97 0 0 0 13,348 0 0 0 1,060,269 1,060,269 1,060,26935 98 0 0 0 13,348 0 0 0 1,103,895 1,103,895 1,103,89636 99 0 0 0 13,348 0 0 0 1,149,881 1,149,881 1,149,88037 100 0 0 0 13,348 0 0 0 1,198,355 1,198,355 1,198,356

of 21 2012/08/09

IIS-Insurance

Year Age

1 642 653 664 675 686 697 708 719 72

10 7311 7412 7513 7614 7715 7816 7917 8018 8119 8220 8321 8422 8523 8624 8725 8826 8927 9028 9129 9230 9331 9432 9533 9634 9735 9836 9937 100

Tax on Liquidation Net Liquidation Death Benefit Direct to

Beneficiaries To EstateEstate

Settlement Costs


0 19,243 1,035,133 1,035,133 0 0 1,035,1330 43,163 1,074,943 1,074,943 0 0 1,074,9430 69,236 1,116,906 1,116,906 0 0 1,116,9060 113,470 1,161,140 1,161,140 0 0 1,161,1400 160,096 1,207,766 1,207,766 0 0 1,207,7660 209,245 1,256,915 1,256,915 0 0 1,256,9150 261,053 1,308,723 1,308,723 0 0 1,308,7230 315,664 1,363,334 1,363,334 0 0 1,363,3340 389,119 1,420,899 1,420,899 0 0 1,420,899

10,430 455,259 1,481,579 1,481,579 0 0 1,481,57928,500 465,398 1,493,898 1,493,898 0 0 1,493,89840,551 466,333 1,506,884 1,506,884 0 0 1,506,88453,840 466,733 1,520,573 1,520,573 0 0 1,520,57368,476 466,526 1,535,002 1,535,002 0 0 1,535,00284,609 465,602 1,550,211 1,550,211 0 0 1,550,211

103,784 462,459 1,566,243 1,566,243 0 0 1,566,243124,688 458,455 1,583,143 1,583,143 0 0 1,583,143147,498 453,459 1,600,957 1,600,957 0 0 1,600,957172,374 447,361 1,619,735 1,619,735 0 0 1,619,735199,440 440,088 1,639,528 1,639,528 0 0 1,639,528228,794 431,599 1,660,393 1,660,393 0 0 1,660,393260,473 421,913 1,682,386 1,682,386 0 0 1,682,386294,630 410,939 1,705,569 1,705,569 0 0 1,705,569328,503 401,503 1,730,006 1,730,006 0 0 1,730,006340,094 415,671 1,755,765 1,755,765 0 0 1,755,765352,313 430,605 1,782,918 1,782,918 0 0 1,782,918365,193 446,346 1,811,539 1,811,539 0 0 1,811,539378,769 462,940 1,841,709 1,841,709 0 0 1,841,709393,080 480,432 1,873,512 1,873,512 0 0 1,873,512408,165 498,869 1,907,034 1,907,034 0 0 1,907,034424,067 518,304 1,942,371 1,942,371 0 0 1,942,371440,828 538,790 1,979,618 1,979,618 0 0 1,979,618458,497 560,384 2,018,881 2,018,881 0 0 2,018,881477,121 583,148 2,060,269 2,060,269 0 0 2,060,269496,753 607,142 2,103,895 2,103,895 0 0 2,103,895517,446 632,435 2,149,881 2,149,881 0 0 2,149,881539,260 659,095 2,198,355 2,198,355 0 0 2,198,355

of 21 2012/08/09

IIS-Investment

Year Age Interest Dividend Capital Gain (realized)

Capital Gain (unrealized)

Investment Growth Interest Dividend Capital Gains Investment

Income

Tax on Investment

Income1 64 14,535 7,125 5,781 24,334 51,775 14,535 7,125 71,864 93,524 24,9192 65 20,812 4,534 3,743 16,707 45,796 20,812 4,534 58,822 84,169 24,0063 66 19,706 4,293 3,544 15,818 43,362 19,706 4,293 46,504 70,504 20,6624 67 18,620 4,057 3,349 14,947 40,973 18,620 4,057 37,635 60,312 18,1055 68 17,539 3,821 3,154 14,079 38,593 17,539 3,821 31,182 52,542 16,0936 69 16,449 3,584 2,958 13,204 36,194 16,449 3,584 26,411 46,443 14,4557 70 15,341 3,342 2,759 12,315 33,757 15,341 3,342 22,801 41,484 13,0708 71 14,209 3,096 2,555 11,406 31,267 14,209 3,096 19,987 37,292 11,8519 72 13,048 2,843 2,347 10,474 28,712 13,048 2,843 17,712 33,603 10,738

10 73 11,854 2,583 2,132 9,516 26,085 11,854 2,583 15,796 30,233 9,68911 74 11,772 2,565 2,117 9,449 25,903 11,772 2,565 12,072 26,408 8,80812 75 11,705 2,550 2,105 9,396 25,756 11,705 2,550 11,907 26,162 8,73713 76 11,637 2,535 2,093 9,341 25,605 11,637 2,535 11,769 25,941 8,67014 77 11,566 2,520 2,080 9,284 25,451 11,566 2,520 11,651 25,737 8,60815 78 11,494 2,504 2,067 9,226 25,291 11,494 2,504 11,547 25,545 8,54716 79 11,419 2,488 2,054 9,166 25,127 11,419 2,488 11,451 25,358 8,48617 80 11,342 2,471 2,040 9,104 24,957 11,342 2,471 11,361 25,174 8,42618 81 11,262 2,454 2,025 9,041 24,782 11,262 2,454 11,275 24,991 8,36519 82 11,180 2,436 2,011 8,975 24,601 11,180 2,436 11,190 24,806 8,30420 83 11,095 2,417 1,995 8,906 24,414 11,095 2,417 11,105 24,617 8,24121 84 11,007 2,398 1,980 8,836 24,221 11,007 2,398 11,020 24,425 8,17622 85 10,916 2,378 1,963 8,763 24,021 10,916 2,378 10,934 24,228 8,11023 86 10,823 2,358 1,946 8,688 23,815 10,823 2,358 10,845 24,026 8,04124 87 10,726 2,337 1,929 8,610 23,601 10,726 2,337 10,755 23,818 7,97125 88 10,625 2,315 1,911 8,529 23,380 10,625 2,315 10,662 23,603 7,89826 89 10,522 2,292 1,892 8,446 23,152 10,522 2,292 10,567 23,381 7,82327 90 10,414 2,269 1,873 8,360 22,916 10,414 2,269 10,469 23,152 7,74528 91 10,763 2,345 1,936 8,639 23,683 10,763 2,345 9,602 22,710 7,73129 92 11,129 2,425 2,001 8,933 24,488 11,129 2,425 9,985 23,538 8,00630 93 11,507 2,507 2,070 9,237 25,320 11,507 2,507 10,366 24,380 8,28831 94 11,898 2,592 2,140 9,551 26,181 11,898 2,592 10,750 25,240 8,57632 95 12,302 2,680 2,212 9,875 27,070 12,302 2,680 11,139 26,121 8,87333 96 12,720 2,771 2,288 10,210 27,989 12,720 2,771 11,535 27,026 9,17834 97 13,151 2,865 2,365 10,557 28,938 13,151 2,865 11,940 27,956 9,49335 98 13,598 2,962 2,445 10,915 29,920 13,598 2,962 12,355 28,915 9,81736 99 14,059 3,063 2,528 11,285 30,936 14,059 3,063 12,782 29,904 10,15237 100 14,536 3,167 2,614 11,668 31,985 14,536 3,167 13,222 30,924 10,498

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IIS-Investment

Year Age

1 642 653 664 675 686 697 708 719 72

10 7311 7412 7513 7614 7715 7816 7917 8018 8119 8220 8321 8422 8523 8624 8725 8826 8927 9028 9129 9230 9331 9432 9533 9634 9735 9836 9937 100

Premium Withdrawals

Net Annual Withdrawal

Withdrawal Gains

Income tax on Gains

Investment Balance

Adjusted Cost Base

Tax on Liquidation Net Liquidation

Estate Settlement

Costs


50,000 0 10,000 2,250 976,856 818,605 35,606 941,250 24,153 917,09750,000 20,000 11,340 2,552 928,646 808,768 26,973 901,674 23,430 878,24450,000 20,000 9,036 2,033 881,346 788,610 20,866 860,480 22,720 837,76050,000 20,000 7,365 1,657 834,214 760,817 16,514 817,700 22,013 795,68650,000 20,000 6,159 1,386 786,714 727,266 13,376 773,338 21,301 752,03750,000 20,000 5,290 1,190 738,453 689,254 11,070 727,383 20,577 706,80650,000 20,000 4,664 1,049 689,140 647,668 9,331 679,809 19,837 659,97250,000 20,000 4,213 948 638,555 603,110 7,975 630,580 19,078 611,50250,000 20,000 3,886 874 586,529 555,975 6,875 579,654 18,298 561,35650,000 20,000 3,647 820 532,925 506,519 5,941 526,983 17,494 509,489

0 20,000 991 223 530,019 504,118 5,828 524,191 17,450 506,7410 20,000 977 220 527,038 501,543 5,736 521,302 17,406 503,8960 20,000 967 218 523,973 498,814 5,661 518,312 17,360 500,9530 20,000 960 216 520,816 495,944 5,596 515,220 17,312 497,9080 20,000 955 215 517,561 492,942 5,539 512,022 17,263 494,7580 20,000 951 214 514,201 489,814 5,487 508,714 17,213 491,5010 20,000 949 213 510,732 486,562 5,438 505,294 17,161 488,1330 20,000 947 213 507,149 483,187 5,391 501,758 17,107 484,6500 20,000 945 213 503,446 479,689 5,345 498,101 17,052 481,0490 20,000 944 212 499,619 476,066 5,300 494,320 16,994 477,3250 20,000 943 212 495,664 472,315 5,254 490,410 16,935 473,4750 20,000 942 212 491,575 468,433 5,207 486,368 16,874 469,4950 20,000 942 212 487,348 464,418 5,159 482,189 16,810 465,3790 20,000 941 212 482,979 460,264 5,111 477,868 16,745 461,1230 20,000 941 212 478,461 455,969 5,061 473,400 16,677 456,7230 20,000 940 212 473,790 451,527 5,009 468,781 16,607 452,1740 20,000 940 211 468,962 446,934 4,956 464,005 16,534 447,4710 0 0 0 484,913 461,913 5,175 479,738 16,774 462,9650 0 0 0 501,395 477,445 5,389 496,007 17,021 478,9860 0 0 0 518,428 493,538 5,600 512,828 17,276 495,5510 0 0 0 536,032 510,201 5,812 530,220 17,540 512,6800 0 0 0 554,229 527,450 6,025 548,204 17,813 530,3900 0 0 0 573,039 545,297 6,242 566,797 18,096 548,7020 0 0 0 592,485 563,761 6,463 586,022 18,387 567,6350 0 0 0 612,588 582,859 6,689 605,899 18,689 587,2100 0 0 0 633,372 602,611 6,921 626,451 19,001 607,4500 0 0 0 654,860 623,037 7,160 647,700 19,323 628,377

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