Applicable percentage
The term “applicable percentage” means—
(i)#
140 percent in the case of an insured with an attained age at the beginning of the contract year of 40 or less, and
(ii)#
in the case of an insured with an attained age of more than 40 as of the beginning of the contract year, 140 percent reduced (but not below 105 percent) by one percent for each year in excess of 40.