<PAGE>

                                 EXHIBIT 4(f)

                    GUARANTEED MINIMUM INCOME BENEFIT RIDER
<PAGE>

                     PEOPLES BENEFIT LIFE INSURANCE COMPANY

    A Stock Company
    Home Office located at: 4333 Edgewood Road N.E., Cedar Rapids, Iowa 52499
    (Hereafter called the Company, we, our or us)    (800)-525-6205

                    GUARANTEED MINIMUM INCOME BENEFIT RIDER

This rider provides Your variable annuity with a minimum annuitization value
called the Minimum Income Base which can only be used with the Annuity Factors
shown in Schedule I of this rider.  This Minimum Income Base is guaranteed by
Us, regardless of the performance of the variable annuity's investments.

This rider is attached to and made part of Your variable deferred annuity policy
as of the Rider Date. Policy refers to the individual policy if the rider is
attached to an individual annuity.  This rider may only be terminated as
provided herein. This rider is subject to all of the provisions in the policy
that do not conflict with the provisions of this rider. The Rider Payment
Options provide for variable annuity payments. Subsequent payments may fluctuate
with the investment performance of Your annuity Subaccounts, but will never be
less than the initial payment.

   Policy Number:                     Rider Date

   Age on Rider Date:                 Minimum Income
                                      Base on Rider Date*:

   Annual Growth Rate:                Guaranteed Minimum Income Benefit:
                                      Last Date to Elect Benefit:

   Rider Fee Percentage:

   Rider Fee Waiver
   Threshold:

   Guaranteed Minimum
   Payment Fee:

              The Mortality and Expense Risk Fee and Administrative Charge after
    the Election Date will be the sum of the Mortality and Expense Risk Fee and
    Administrative Charge effective after the Annuity Commencement Date shown on
    the Policy Data Page, plus an additional Mortality and Expense Risk Fee and
    Administrative Charge, called the Guaranteed Minimum Payment Fee, shown
    above.

   Election Date  Age       Minimum Income        Guaranteed Minimum
                                Benefit*           Monthly Payment**
   -------------  ---       --------------        ------------------
















*Assumes no further payments following the Rider Date, no premium tax, and no
withdrawals. This amount may only be used for annuitization with the Rider
Payment Options provided in this rider.

** Assumes the Minimum Income Base shown is applied to a life with 10 year
certain Rider Payment Option with monthly payments.  If Election Date is less
than 10 years after the Rider Date, assumes Age Adjustment is applied as
described on page 4 of this rider.

RGMI 17 0102                         1
<PAGE>

DEFINITIONS

The following definitions used in this Rider are for reference only.

Adjusted Policy Value
The Policy Value increased or decreased by an Excess Interest Adjustment, if
applicable, as defined in Your deferred annuity policy.

Annuitant
The Annuitant is designated on the Policy Data Page. The variable annuity
payments are paid to the Annuitant (or surviving Joint Annuitant).

Annuity Factor
A factor for the applicable Annuitant age, sex and Rider Payment Option shown in
Schedule I or Schedule II of this rider. For the Rider Payment Option chosen,
the Annuity Factor from Schedule I and the Minimum Income Base will be used to
determine the first annuity payment.  Factors not shown are available from us
upon request.  Schedule I and Schedule II factors are based on the Annuity 2000
(male, female, and unisex if required by law) mortality table projected for
improvement using projection scale G, assuming an annuity commencement date of
2005.  See the Annuity Factor Age Adjustment to determine the appropriate age to
use with the Schedule I factor.

Election Date
The date we receive in our Home Office all information necessary for You to
elect to begin receiving Guaranteed Minimum Income Benefit payments.  The
Election Date must be within 30 days following a Rider Anniversary.  The last
date to elect a Rider Payment Option is shown on page one of this rider.

Minimum Income Base
The amount we will use to determine the Guaranteed Minimum Income Benefit
payments.

Rider Anniversary
The anniversary of the Rider Date for each year the rider remains in force.

Rider Date
The date that this rider is added to the policy. This is also the date that You
most recently upgraded the Minimum Income Base, as described in the Minimum
Income Base Upgrade section on page 3, if applicable.

Rider Year
The 12 month periods following the Rider Date shown on page one of this rider.
The first Rider Year starts on the Rider Date.  Each subsequent Rider Year
starts on the anniversary of the Rider Date.

Supportable Payment
The Supportable Payment is equal to the number of variable annuity units in the
selected Subaccounts multiplied by the variable annuity unit values in those
Subaccounts on the date the payment is calculated.

GUARANTEED MINIMUM INCOME BENEFIT

On the Election Date, You may use the Minimum Income Base and the applicable
Schedule I Annuity Factor to provide variable payments to the Annuitant. The
first variable payment is determined by multiplying each $1,000 of Minimum
Income Base by the Annuity Factor on Schedule I. On each anniversary of Your
initial variable annuity payment, the stabilized variable annuity payment (for
the year just about to begin) will be equal to the greater of a) the supportable
payment or b) the initial variable annuity payment, if greater.

Number of Annuity Units:
   On the Election Date, the number of annuity units in each subaccount is
   determined by dividing the first variable annuity payment allocated to the
   subaccount by the variable annuity unit value of that subaccount on the
   Election Date.  The number of variable annuity units in effect at any time
   after annuity payments begin is equal to (1) plus (2) minus (3) where:
   (1) is the number of annuity units in effect on the Election Date;
   (2) is the number of any annuity units purchased after the Election Date
       (described below under "Purchase/Redemption of Annuity Units"); and
   (3) is the number of any annuity units redeemed after the Election Date
       (described below under "Purchase/Redemption of Annuity Units").

Mortality and Expense Risk Fee and Administrative Charge:
  For all variable annuity payments after the first variable annuity payment, an
  annual Mortality and Expense Risk Fee and Administrative Charge will be
  charged.  This fee may be different than the Mortality and Expense Risk Fee
  and Administrative Charge in effect for Your deferred annuity policy prior to
  the Election Date.  It will be equal to the "Mortality and Expense Risk Fee
  and Administrative Charge effective after the Annuity Commencement Date" shown
  on the Policy Data Page, plus an additional Mortality and Expense Risk Fee and
  Administrative Charge, called the Guaranteed Minimum Payment Fee, shown on
  page one of this rider.  This Guaranteed Minimum Payment Fee is used to fund
  the stabilization and guaranteed minimum payment features described below.

Stabilized variable annuity payments, calculated on each anniversary of the
initial variable annuity payment, may fluctuate in accordance with the
investment performance of Your annuity Subaccounts.  However, such payments will
never be less than the initial variable annuity payment.


RGMI 17 0102                           2
<PAGE>

MINIMUM INCOME BASE
The Minimum Income Base is used to determine Your Guaranteed Minimum Income
Benefit payments.

On the Rider Date, the Minimum Income Base is the Policy Value of that date.
After the Rider Date, the Minimum Income Base will be equal to (A) plus (B)
less (C) where:
(A) is the Minimum Income Base on the Rider Date, accumulated at the effective
    Annual Growth Rate as shown on page one of this rider;
(B) is any additional premium payments made after the Rider Date, accumulated
    from their payment date(s) at the effective Annual Growth Rate as shown on
    page one of this rider; and
(C) is the gross policy Withdrawals since the Rider Date (adjusted as described
    below), accumulated from the withdrawal dates(s) at the effective Annual
    Growth Rate, plus any applicable premium taxes.

On the Election Date, if the Adjusted Policy Value is greater than the Minimum
Income Base, we will increase Your Minimum Income Base to be equal to Your
Adjusted Policy Value at that time. You may only use the Minimum Income Base
with the Rider Payment Options in this rider. You may not use the Minimum Income
Base with the Annuity Payment Options listed in Your policy.

Withdrawals:
In any Rider Year, the Minimum Income Base will only be reduced by the same
amount that Your Policy Value is reduced as long as the Withdrawal does not
exceed a maximum annual amount. Amounts withdrawn in excess of the maximum
annual amount will reduce the Minimum Income Base by an amount equal to (A)
divided by (B) multiplied by (C) where:

(A) is the amount of the excess withdrawal (that is, the portion of the gross
    withdrawal which exceeds the maximum annual amount);
(B) is the Policy Value after the current Rider Year maximum annual amount has
    been withdrawn, but immediately prior to the Withdrawal of the excess
    portion; and
(C) is the Minimum Income Base after the current Rider Year maximum annual
    amount has been withdrawn, but prior to Withdrawal of the excess portion.

For each Rider Year, the maximum annual amount  is equal to the Minimum Income
Base, as of the beginning of the Rider Year, multiplied by the effective Annual
Growth Rate as shown on page one of this rider. Withdrawals during a Rider Year
will  reduce the available maximum annual amount by the same amount that Your
Policy Value is reduced.

RIDER FEE
We will deduct a fee from the Policy Value on each Rider Anniversary and on the
termination date of this rider. The Rider Fee is the Minimum Income Base at the
time the fee is deducted, multiplied by the Rider Fee Percentage shown on the
first page of this rider. The fee will be deducted from each investment option
in proportion to the amount of Policy Value in each investment option. If the
date this fee is deducted for termination of this rider is a date other than a
Rider Anniversary, then the fee will be prorated for the portion of the Rider
Year which has passed. This fee will not be deducted after the Election Date.

WAIVER OF RIDER FEE
If the Policy Value at the time a rider fee is assessed equals or exceeds an
amount equal to the Rider Fee Waiver Threshold (shown on page one of this rider)
multiplied by the Minimum Income Base on the date the fee is assessed, the Rider
Fee will be waived.

MINIMUM INCOME BASE UPGRADE
The owner may elect, in writing, to upgrade the Minimum Income Base to the
Policy Value at any time after the first Rider Anniversary. This allows the
owner to increase the Minimum Income Base to equal the Policy Value on the new
Rider Date if it is greater than the Minimum Income Base. This value is then the
new Minimum Income Base, and continues to grow as described above.

If an upgrade is elected, this rider will terminate and a new rider available at
that time will be issued with a new Rider Date and its own fees and guaranteed
benefits. The features which may change include but are not limited to:
1)  a new Rider Date, which will be the date the Company receives all
    information necessary to process the upgrade;
2)  a new annual Rider Fee Percentage, which may be different than this rider's,
    but will never be greater than 0.50%;
3)  a new Rider Fee Waiver Threshold, which may also be different than this
    rider's, but will never be greater than 250%; and
4)  the Annual Growth Rate, which may be different than this rider's, but will
    never be less than 3.0%.

RIDER PAYMENT OPTIONS
The Minimum Income Base and applicable Annuity Factors from Schedule I may be
applied to the following payment options:

 Life Income - An election may be made for "No Period Certain" or "10 Years
 Certain". In the event of the death of the person receiving payments prior to
 the end of the 10 year period certain, the remaining period certain payments
 will be continued to the beneficiary.

 Joint and Full Survivor - An election may be made for "No Period Certain" or
 "10 Years Certain". Payments will be made as long as either the Annuitant or
 Joint Annuitant is living. In the event  of the death of both the Annuitant and
 the Joint Annuitant prior to the end of the 10 year period certain, the
 remaining period certain payments will  be continued to the beneficiary.

RGMI 17 0102                           3
<PAGE>

ANNUITY FACTOR AGE ADJUSTMENT
The age used to determine the appropriate annuity factor from Schedule I is
referred to as the Adjusted Age nearest birthday, and is equal to (A) less (B)
as follows:
(A) is the current age nearest birthday of the Annuitant on the Election Date.
    If the Annuitant's age nearest birthday is at least 85 on the Election Date,
    this number will equal 85; and
(B) is equal to the Age Adjustment in the following table corresponding to the
    number of complete Rider Years that have elapsed since the Rider Date.


    Number of Complete
     Years Since the           Age Adjustment
        Rider Date

           1                          9
           2                          8
           3                          7
           4                          6
           5                          5
           6                          4
           7                          3
           8                          2
           9                          1
       10 or more                     0


GUARANTEED MINIMUM PAYMENT
Following the Election Date, the owner will receive guaranteed minimum payments.
The annual Mortality and Expense Risk Fee and Administrative Charge for these
payments is equal to the "Mortality and Expense Risk Fee and Administrative
Charge effective after the Annuity Commencement Date" shown on the Policy Data
Page, plus the Guaranteed Minimum Payment Fee shown on page one of this rider.

The first payment is based on the Annuity Factors in Schedule I. We guarantee
that each subsequent payment will be equal to or greater than Your initial
payment.

During the first Year following the Election Date, each variable annuity payment
will be stabilized to equal the initial payment. On each anniversary of Your
initial variable annuity payment, the stabilized variable annuity payment will
be increased or decreased (but never below the initial payment) and held level
for that year. The stabilized variable annuity payment will equal the greater of
the initial variable annuity payment or the Supportable Payment at that time.

If the Supportable Payment (at any payment date) is greater than the stabilized
payment for that year, the excess will be used to purchase additional annuity
units (using the attained age factors in  Schedule II) as  described below. If
the Supportable Payment (at any payment date) is less than the stabilized
payment for that year, annuity units will be redeemed as described below to fund
the deficiency.

Purchase/Redemption of Annuity Units:
  The number of annuity units purchased or redeemed is equal to the annuity
  income purchased or redeemed, respectively, divided by the annuity unit value
  for each respective Subaccount. Purchases and redemptions of annuity income
  will be allocated to each Subaccount on a proportionate basis. The amount of
  annuity income purchased or redeemed is the difference between the Supportable
  Payment and the stabilized variable annuity payment, times the attained age
  nearest birthday Annuity Factors shown in Schedule II, divided by $1,000. The
  Schedule II Annuity Factor will reflect the remaining number of years certain,
  if any.

The Company bears the risk that it will need to make payments if all annuity
units have been redeemed in an attempt to maintain the stabilized payment at the
initial payment level. In such an event, the Company will make all future
payments equal to the initial payment.

ASSIGNMENT
Payments made under this rider may not be pledged or assigned. Payments will
only be made to the Annuitant or Joint Annuitant named in the policy.

TERMINATION
This rider will be terminated upon the earliest of:
a. the Election Date;
b. 30 days after the Last Date to Elect Benefit shown on the first page of this
   rider;
c. the date the policy terminates;
d. the date You notify Us  in writing  of Your  intention  to terminate this
   rider (may not be before the first Rider Anniversary);
e. the date You elect to apply the Adjusted Policy Value to annuitize this
   policy using the Policy's payment options; and
f. the date You elect to upgrade Your Minimum Income Base.

This rider cannot be terminated prior to the earliest of the above dates.



                       Signed for us at our home office.


             ABC                                      ABCD
              SECRETARY                                PRESIDENT

RGMI 17 0102                           4
<PAGE>

                         SCHEDULE I - ANNUITY FACTORS

The amounts shown in these tables are the Annuity Factors for each $1,000 of the
     Minimum Income Base and are based on a 3% Assumed Investment Return.

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
                                         Monthly Annuity Factor For Life With       Monthly Annuity Factor For Life With
                                                   No Period Certain                          10 Years Certain
----------------------------------- --------------------------------------------- -------------------------------------------
                 Age*                         Male        Female         Unisex         Male          Female         Unisex
----------------------------------- ---------------------------------------------- ------------------------------------------
<S>                                        <C>           <C>             <C>            <C>           <C>            <C>
                  50                        $ 3.82         $ 3.70        $ 3.74          $3.80          $3.69          $3.72
                  51                          3.89           3.76          3.80           3.86           3.74           3.78
                  52                          3.95           3.81          3.86           3.92           3.80           3.84
                  53                          4.02           3.88          3.92           3.99           3.86           3.90
                  54                          4.10           3.94          3.99           4.06           3.92           3.96
                  55                          4.18           4.01          4.06           4.13           3.99           4.03
                  56                          4.26           4.08          4.14           4.21           4.06           4.10
                  57                          4.35           4.16          4.22           4.29           4.13           4.18
                  58                          4.44           4.24          4.30           4.38           4.21           4.26
                  59                          4.54           4.33          4.39           4.47           4.29           4.35
                  60                          4.64           4.42          4.49           4.57           4.38           4.44
                  61                          4.76           4.52          4.59           4.67           4.47           4.53
                  62                          4.88           4.63          4.70           4.78           4.57           4.63
                  63                          5.01           4.74          4.82           4.89           4.67           4.74
                  64                          5.15           4.86          4.94           5.01           4.78           4.85
                  65                          5.30           4.98          5.08           5.14           4.89           4.97
                  66                          5.46           5.12          5.22           5.27           5.02           5.09
                  67                          5.63           5.27          5.37           5.41           5.14           5.22
                  68                          5.81           5.42          5.54           5.55           5.28           5.36
                  69                          6.00           5.59          5.71           5.70           5.42           5.51
                  70                          6.21           5.78          5.90           5.86           5.58           5.66
                  71                          6.43           5.97          6.11           6.02           5.74           5.82
                  72                          6.66           6.19          6.33           6.18           5.90           5.99
                  73                          6.91           6.42          6.56           6.35           6.08           6.16
                  74                          7.18           6.67          6.82           6.53           6.26           6.34
                  75                          7.46           6.94          7.09           6.70           6.45           6.53
                  76                          7.77           7.23          7.39           6.88           6.65           6.72
                  77                          8.10           7.55          7.71           7.07           6.85           6.91
                  78                          8.45           7.89          8.05           7.25           7.05           7.11
                  79                          8.83           8.26          8.43           7.43           7.26           7.31
                  80                          9.23           8.66          8.83           7.61           7.46           7.51
                  81                          9.66           9.10          9.27           7.79           7.66           7.70
                  82                         10.13           9.57          9.74           7.97           7.86           7.89
                  83                         10.62          10.09         10.24           8.13           8.05           8.07
                  84                         11.15          10.64         10.79           8.29           8.23           8.25
                  85                         11.72          11.24         11.38           8.44           8.40           8.41
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

               Monthly Annuity Factor For Joint and Full Survivor
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                                         Age of Female Annuitant*
                  -----------------------------------------------------------------------------------------------------------------
      Age of              15 Years        12 Years         9 Years         6 Years         3 Years                        3 Years
       Male               Less Than       Less Than       Less Than       Less Than       Less Than       Same As        More Than
    Annuitant*              Male            Male            Male            Male            Male            Male           Male
-----------------------------------------------------------------------------------------------------------------------------------
<S>                         <C>             <C>             <C>             <C>             <C>           <C>             <C>
        50                   $3.06           $3.12           $3.19           $3.25           $3.31         $3.38           $3.44
        55                    3.20            3.27            3.35            3.44            3.52          3.61            3.69
        60                    3.37            3.47            3.57            3.68            3.79          3.91            4.02
        65                    3.59            3.72            3.86            4.01            4.16          4.32            4.47
        70                    3.88            4.06            4.25            4.45            4.67          4.89            5.11
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>


 Monthly Annuity Factor For Unisex Joint and Full Survivor with 10 Year Period
                                    Certain
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                                    Age of Joint Annuitant*
                   ----------------------------------------------------------------------------------------------------------------
      Age of                15 Years         12 Years         9 Years          6 Years         3 Years                   3 Years
      First                 Less Than        Less Than       Less Than        Less Than       Less Than    Same As      More Than
    Annuitant*                First            First           First            First           First       First         First
-----------------------------------------------------------------------------------------------------------------------------------
<S>                           <C>              <C>              <C>              <C>            <C>          <C>          <C>
        50                    $3.07            $3.13            $3.19            $3.25          $3.31        $3.37        $3.43
        55                     3.20             3.28             3.36             3.44           3.52         3.60         3.67
        60                     3.38             3.48             3.58             3.68           3.79         3.89         4.00
        65                     3.61             3.73             3.87             4.01           4.16         4.30         4.44
        70                     3.90             4.07             4.26             4.46           4.66         4.86         5.05
-----------------------------------------------------------------------------------------------------------------------------------
*Adjusted Age nearest birthday
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Dollar amounts of monthly, quarterly, semi-annual, and annual installments not
shown in the above tables will be calculated on the same basis as those shown
and may be obtained from the Company.

RGMI-SCH 1
<PAGE>

                         SCHEDULE II - ANNUITY FACTORS

 The amounts shown in these tables are the Annuity Factors for each $1,000 and
                  are based on a 5% Assumed Investment Return.

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------
                              Monthly Annuity Factor For Life   Monthly Annuity Factor For Life
                                  With No Period Certain            With 10 Years Certain
------------------------------------------------------------------------------------------------
            Age*                 Male       Female     Unisex      Male       Female     Unisex
<S>                              <C>        <C>        <C>         <C>        <C>        <C>
             50                  $ 5.07     $ 4.93     $ 4.98      $5.04      $4.92      $4.95
             51                    5.13       4.99       5.03       5.09       4.96       5.00
             52                    5.19       5.04       5.08       5.15       5.01       5.05
             53                    5.26       5.10       5.14       5.21       5.07       5.11
             54                    5.33       5.16       5.21       5.27       5.12       5.17
             55                    5.40       5.22       5.27       5.34       5.18       5.23
             56                    5.48       5.29       5.35       5.41       5.25       5.30
             57                    5.57       5.36       5.42       5.49       5.32       5.37
             58                    5.66       5.44       5.50       5.57       5.39       5.44
             59                    5.75       5.52       5.59       5.66       5.47       5.52
             60                    5.85       5.61       5.68       5.75       5.55       5.61
             61                    5.97       5.70       5.78       5.85       5.63       5.70
             62                    6.09       5.81       5.89       5.95       5.72       5.79
             63                    6.21       5.91       6.00       6.06       5.82       5.89
             64                    6.35       6.03       6.13       6.17       5.92       6.00
             65                    6.50       6.16       6.26       6.29       6.03       6.11
             66                    6.66       6.29       6.40       6.42       6.15       6.23
             67                    6.83       6.43       6.55       6.55       6.27       6.36
             68                    7.01       6.59       6.71       6.69       6.40       6.49
             69                    7.21       6.76       6.89       6.83       6.54       6.63
             70                    7.41       6.94       7.08       6.98       6.69       6.77
             71                    7.63       7.14       7.28       7.13       6.84       6.93
             72                    7.87       7.35       7.50       7.28       7.00       7.09
             73                    8.12       7.58       7.74       7.45       7.17       7.25
             74                    8.39       7.83       8.00       7.61       7.34       7.42
             75                    8.68       8.11       8.28       7.78       7.52       7.60
             76                    8.99       8.40       8.58       7.95       7.71       7.78
             77                    9.32       8.72       8.90       8.12       7.90       7.97
             78                    9.68       9.07       9.25       8.29       8.09       8.16
             79                   10.06       9.45       9.63       8.47       8.29       8.34
             80                   10.47       9.85      10.04       8.64       8.48       8.53
             81                   10.91      10.30      10.48       8.80       8.67       8.71
             82                   11.38      10.78      10.96       8.97       8.86       8.89
             83                   11.88      11.30      11.47       9.12       9.04       9.06
             84                   12.42      11.87      12.03       9.27       9.21       9.23
             85                   12.99      12.48      12.63       9.41       9.37       9.38
-----------------------------------------------------------------------------------------------
</TABLE>

               Monthly Annuity Factor For Joint and Full Survivor
<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------------------
                                                                 Age of Female Annuitant*
                  ----------------------------------------------------------------------------------------------------------
     Age of              15 Years        12 Years         9 Years         6 Years       3 Years                   3 Years
      Male               Less Than       Less Than       Less Than       Less Than     Less Than     Same As     More Than
   Annuitant*              Male            Male            Male            Male          Male         Male          Male
----------------------------------------------------------------------------------------------------------------------------
<S>                       <C>             <C>             <C>             <C>           <C>          <C>           <C>
       50                  $4.37           $4.42           $4.46           $4.51         $4.56        $4.62         $4.67
       55                   4.48            4.54            4.60            4.67          4.74         4.81          4.88
       60                   4.62            4.70            4.79            4.88          4.98         5.08          5.18
       65                   4.81            4.92            5.04            5.17          5.31         5.46          5.61
       70                   5.07            5.23            5.40            5.59          5.79         6.00          6.22
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

           Monthly Annuity Factor For Unisex Joint and Full Survivor

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                                                      Age of Joint Annuitant*
                   ---------------------------------------------------------------------------------------------------------------
     Age of               15 Years         12 Years          9 Years          6 Years          3 Years                  3 Years
     First                Less Than        Less Than        Less Than        Less Than        Less Than    Same As     More Than
   Annuitant*               First            First            First            First            First       First        First
----------------------------------------------------------------------------------------------------------------------------------
<S>                        <C>              <C>              <C>              <C>              <C>         <C>          <C>
       50                   $4.38            $4.42            $4.47            $4.51            $4.56       $4.61        $4.66
       55                    4.48             4.54             4.60             4.67             4.73        4.80         4.87
       60                    4.63             4.70             4.79             4.88             4.97        5.07         5.16
       65                    4.82             4.93             5.05             5.17             5.30        5.44         5.57
       70                    5.09             5.24             5.41             5.59             5.78        5.97         6.16
---------------------------------------------------------------------------------------------------------------------------------
*Age nearest birthday
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Dollar amounts of monthly, quarterly, semi-annual, and annual installments not
shown in the above tables will be calculated on the same basis as those shown
and may be obtained from the Company.

RGMI-SCH 2