Sources#

Source ids [S#]/[R#] are carried verbatim from _research/sofortrente.md (the citation ground truth for this product) and are frozen — never renumber. All fifteen primary sources S1–S15 are cited by product-spec.md or technical-notes.md and appear below. An entry appears here if any document or shipped input file of this product cites it, which is why the R section also carries R12: no specification document cites it, but model.md does and so does every row of improvement_table.csv. Eight of the twenty-five product-level references are cited by no document and no input file and are therefore absent, leaving gaps in the R numbering: R3 (VVG § 153, Überschussbeteiligung), R7 (DeckRV § 2, the Höchstrechnungszins), R15 (MindZV), R16 (VAG §§ 138–140 and the Zinszusatzreserve), R17 (VVG-InfoV and the PRIIPs Regulation) and R24 (the unisex rule) are each carried by the cross-product reference library under a frozen [REG-R#] id — as REG-R24, REG-R14 / REG-R15, REG-R18, REG-R9 / REG-R10 / REG-R17, REG-R31 / REG-R32 and REG-R34 respectively — and the product documents cite them from there, because library-wide numbering is what lets a reader compare ten products against one instrument; R6 (VVG §§ 150, 159, 160, the Bezugsberechtigung) is likewise carried at REG-R26, and the beneficiary is in any event a pass-through that no cell in the model reads; and R9 (GDV and HDI media items on the 2025 rate increase) supported no claim the two documents make that REG-R15 does not carry with a statutory instrument behind it. Sources were assembled on 2026-08-29 and retrieved on 2026-08-30; each entry’s Retrieved line records what was actually opened on that date, with the edition, page count or statutory Stand of what was read. No source id was added or renumbered at either date; where retrieval located a further document from the same publisher — the GDV’s immediate-annuity model conditions, Allianz’s PrivatSofortRente page, Debeka’s Sofortrente page — it is recorded inside the existing entry rather than given a new id. Cross-product [REG-R#] tags are listed in their own section at the end.

Retrieval conditions — read before any entry below. They changed between the two dates above, and both halves belong in the record.

(1) How this file was drafted. On 2026-08-29 a default-deny network policy blocked all egress: WebFetch and curl were refused with HTTP 403 at the egress gateway for every host outside a short package-registry allowlist — gesetze-im-internet.de, bafin.de, gdv.de, aktuar.de, bundesfinanzministerium.de, destatis.de, dejure.org, eur-lex.europa.eu, de.wikipedia.org and every insurer host named below were tried across the delib build and all refused — and the session’s WebSearch budget, 200 calls shared across the library, was exhausted before work on the Sofortrente began, against a brief that anticipated thirty to eighty searches. Not one search was run for this product, which was the worst-served of the ten. The draft therefore rested on the authoring model’s own knowledge of German insurance law and practice, disciplined by std and [unverified] tags, and on facts carried over with attribution from a sibling delib research file whose searches had run earlier in the session — principally _research/klassische_rentenversicherung.md, which shares this product’s Rechnungsgrundlagen and, at two carriers, its tariff. Where an entry below still rests on that chain it says so and names the sibling file’s own source id: traceable provenance, and one step weaker than a retrieval. No document number, URL, edition, page count or publication date was ever guessed, then or now.

(2) How it was re-verified. The policy was lifted, and on 2026-08-30 the citations were checked against the primary documents. Library-wide, all fifteen German instruments delib cites were read as canonical XML from gesetze-im-internet.de with each law’s amendment Stand recorded, 950 statutory section references were checked and 950 were correct, and insurer AVB, Verbraucherinformationen and Produktinformationsblätter were retrieved as PDFs and read; 501 of the library’s 805 source entries, 62 %, now read Retrieved: yes. For this product: 19 of the 32 entries below read Retrieved: yes and 12 read no, one (R20) being mixed — 61 % of the thirty-one that resolve either way. Every insurer document in the S section was opened, as was every statutory provision carried under this file’s own [R#] ids.

What that means for a reader of an entry. A Retrieved: yes line means the document was opened and the passage the entry rests on was read, and the line records the edition, page count or statutory Stand of what was read. A Retrieved: no line means the entry is still a pointer, not a certificate: it names the instrument a claim should be checked against and does not assert that anyone checked it, and it says so in those terms. The twelve name what happened, and not one of them is a dead link — this file’s only HTTP 404 sits inside the mixed entry R20. Three are document classes with no public specimen: the Produktinformationsblatt [S11] and the Basisinformationsblatt [S12], of which no carrier publishes an instance, and the Standmitteilung [S15], which an insurer sends to a policyholder rather than publishes. Four are DAV material that is not on the open web at all: the Höchstrechnungszins recommendations R8, the derivations of DAV 2004 R and of its Bestand companion R10 R11, and the conference and seminar expositions of them R12. One is sold rather than published, Assekurata’s market study R22, and two are publisher series that were not located at any address, BaFin’s R18 and the GDV’s statistics R25. The last two, [S13] and R23, are research artefacts — a carrier census and a comparison-portal cluster — with no single document behind them at all. Where an entry was not retrieved it reads URL: not established or attributes its URL to the sibling file that recorded it, and every paragraph number, date, amount and percentage that no document confirms still carries [unverified]. The re-verification changed things: it corrected claims the drafted text got wrong, and those corrections are recorded in the entries themselves and in the provenance note at the end rather than summarised away here. What it did not change is why model.md’s standardization table is longer for this product than for any other in the library — the entire commercial character of a Sofortrente is a number, the euros per month per 100 000 € of Einmalbeitrag, and one carrier’s scale at one vintage [S8] is the whole of that number the corpus holds.

Primary product sources#

S1 — GDV, Musterbedingungen service index, and the immediate-annuity model conditions#

Publisher / doc type: Gesamtverband der Deutschen Versicherungswirtschaft e. V. (GDV), Berlin; publisher index page listing the association’s Musterbedingungen — model general policy conditions members may adopt, adapt or ignore. Not binding, not a regulation
URL: https://www.gdv.de/gdv/service/musterbedingungen — recorded by the sibling file _research/klassische_rentenversicherung.md [S3 there] from a search result. The immediate-annuity model conditions it links are at https://www.gdv.de/resource/blob/6296/52389f06e484287cd23f26219e5ed77f/allgemeine-bedingungen-fur-die-rentenversicherung-mit-sofort-beginnender-rentenzahlung-data.pdf
Retrieved: yes (index page read 2026-08-30, and the linked Allgemeine Bedingungen für die Rentenversicherung mit sofort beginnender Rentenzahlung retrieved as a PDF, 10 pp., Stand: 21.07.2025, read 2026-08-30)
Used for: the entry’s original negative finding is withdrawn — the retrieved index refutes it. Under Rentenversicherungen the index lists, alongside the deferred annuity, the Basisrente and the two AltZertG wrappers, an “Allgemeine Bedingungen für die Rentenversicherung mit sofort beginnender Rentenzahlung” and a second set for the AltZertG version of it; under the rider heading it lists a Hinterbliebenenrenten-Zusatzversicherung zur Rentenversicherung mit sofort beginnender Rentenzahlung as well as the deferred one carried at [S9]. The GDV does publish an association template for exactly this product, and product-spec.md’s statement that it does not is corrected accordingly (research gap 3 closes). The template itself is now the entry’s substantive content: it is non-binding on its face — “Diese Bedingungen sind für die Versicherer unverbindlich; ihre Verwendung ist rein fakultativ” — and its § 9 is the cleanest statement in the corpus of this product’s defining term: “Sie können Ihren Vertrag nicht kündigen. Die Rückzahlung des Einmalbeitrages können Sie nicht verlangen.” Its § 1 Abs. 1 pays “je nach Vereinbarung jährlich, halbjährlich, vierteljährlich oder monatlich an den vereinbarten Fälligkeitstagen” and Abs. 2 carries the Rentengarantiezeit with the worked illustration reproduced at [S4]; § 2 Abs. 6 carries the surplus disclaimer and § 2 Abs. 8 the annual statement behind [S15]. Cited with [S9] for the association’s treatment of the survivor’s annuity as a rider

S2 — Zurich Deutscher Herold Lebensversicherung AG, “Verbraucherinformation für Direktversicherungen nach § 3 Nr. 63 EStG — Sofort beginnende Rentenversicherung”, Fassung 01/2025#

Publisher / doc type: Zurich Deutscher Herold Lebensversicherung AG; Verbraucherinformation, the consolidated pre-contractual pack a German life insurer must supply — general information, the AVB, the Besondere Bedingungen per option and the tax notes. Document code 521331402 2501
URL: https://www.zurich.de/-/media/project/zwp/germany/br/documents/verbraucherinformationen/222202101_sofort-beginnende-rentenversicherung_verbraucherinformationen_2022_01.pdf — returned by a search recorded as S16 in _research/klassische_rentenversicherung.md
Retrieved: yes (PDF, 25 pp., document code 521331402 2501, read 2026-08-30). Two corrections the retrieval forces. The title recorded from the search summary was wrong in both halves: the pack is für Direktversicherungen nach § 3 Nr. 63 EStG, not für Konventionelle Versicherungen, and its own cover reads “in der Fassung 01 / 2025”, not 01/2022 — the URL slug’s 2022_01 is stale. The document is therefore a Schicht-2 Direktversicherung wrapper on the immediate annuity, not the Schicht-3 private contract this product specifies; it nevertheless carries, at pages 16–17, “Allgemeine Steuerhinweise für die sofort beginnende Rentenversicherung – Private Vorsorge (Schicht 3)” (Stand 07/2024), which is Schicht-3 material from the carrier’s own pen
Used for: clause-level content, where before it carried only the product’s identity. Its AVB § 1 Abs. 6 states the Rechnungsgrundlagen in terms: “Die Kalkulation der bei Vertragsbeginn im Versicherungsschein genannten Leistungen basiert auf der Sterbetafel DAV 2004R (Aggregattafel); es wird ein Rechnungszins in Höhe von 1,00 % verwendet.” — the corpus’s first retrieved statement of an annuity tariff basis, naming the DAV table and putting the rate at the 2025 Höchstrechnungszins rather than below it REG-R15. § 6 reads “Zu Lebzeiten der versicherten bzw. mitversicherten Person ist eine Kündigung der Versicherung ausgeschlossen” and “Die Rückzahlung des Einmalbeitrags können Sie nicht verlangen”, which is R1’s substance in an insurer’s own words; § 7 puts the Abschluss- und Vertriebskosten “pauschal bei der Tarifkalkulation” rather than in a separate charge; § 8 Abs. 2 carries the proof-of-life routine “auf unsere Kosten”; and § 2 carries the payout-phase surplus machinery used at [S10]. It remains the citation in product-spec.md’s first table for “single-premium immediate life annuity on the general account, konventionell, profit-participating” and for the single Einmalbeitrag

S3 — Zurich Deutscher Herold Lebensversicherung AG, “Verbraucherinformation für Konventionelle Versicherungen — Aufgeschobene Rentenversicherung”, Fassung 01/2026#

Publisher / doc type: Zurich Deutscher Herold Lebensversicherung AG; Verbraucherinformation, deferred annuity. Document code 521331262 2601
URL: https://www.zurich.de/-/media-assets/project/zurich-headless/germany/br/documents/verbraucherinformationen/32020_aufgeschobene-rentenversicherung_verbraucherinformationen_2026_01.pdf — recorded by the sibling file [S4 there] from a search result
Retrieved: yes (PDF, 66 pp., document code 521331262 2601, Fassung 01/2026, read 2026-08-30)
Used for: the clause evidence that surplus participation does not stop at Rentenbeginn, which is load-bearing for this product, now read rather than reported. Its § 2 states: “An vorhandenen Bewertungsreserven werden Sie während der Rentenzahlungszeit nach den jeweils geltenden versicherungsvertraglichen und aufsichtsrechtlichen Bestimmungen beteiligt. Derzeit sieht § 153 Absatz 3 VVG eine hälftige Beteiligung an den Bewertungsreserven vor” REG-R24 — the sentence product-spec.md and technical-notes.md both cite. It is no longer the corpus’s only such evidence: [S2] carries the same clause for the immediate annuity, [S4] and [S10] carry the payout-phase mechanics at two further carriers. technical-notes.md cites it in class (a) for the Überschussbeteiligung as a statutory entitlement whose method is not prescribed and again under Model scope for the Bewertungsreserven share being explicitly excluded from the projection. Its § 1 Abs. 6 repeats [S2]’s Rechnungsgrundlagen clause verbatim — DAV 2004R (Aggregattafel), Rechnungszins 1,00 % — so the carrier prices the deferred and immediate forms on one basis. It also carries the two-factor rule at Rentenbeginn: under Verzinsliche Ansammlung the accumulated surplus is converted “unter Zugrundelegung von Rechnungszins und Sterbetafel, die zum Zeitpunkt des Übergangs in die Rentenzahlung für diese dann vorgesehen sind” — the bases in force for the annuity at conversion, not those of the deferred contract. That is the pricing-primitive statement product-spec.md had attributed to [S7]; [S5] states it far more explicitly still

S4 — NÜRNBERGER Lebensversicherung AG, Allgemeine Bedingungen für die Rentenversicherung mit sofort beginnender Rentenzahlung und Rentengarantiezeit nach Tarif NR3303, publisher document id `gn331303_p`#

Publisher / doc type: NÜRNBERGER Lebensversicherung AG; an insurer’s own AVB for exactly the product in scope. Edition GN331303_202501, tariff NR3303
URL: https://www.nuernberger.de/medien/4allportal/gn331303_p.pdf — the document id was returned by a search and is recorded by the sibling file [S9 there]; the URL was constructed from the carrier’s 4allportal path form and is confirmed working
Retrieved: yes (PDF, 7 pp., edition GN331303_202501, read 2026-08-30). The title recorded from the search summary was truncated: the AVB names the Rentengarantiezeit and the tariff code as well
Used for: the richest single document in this file, and the one that turns most of the product’s mechanics from reported to read. Five things rest on it. (i) Rechnungsgrundlagen: “Um die in den Allgemeinen Vertragsdaten genannte garantierte Rente zu berechnen, verwenden wir die anerkannte Rententafel NÜRNBERGER Tafel 2013 R mit einem garantierten Rechnungszins von 1 % p. a.” — a company table, not DAV 2004 R, which is why product-spec.md no longer asserts DAV 2004 R as the German annuity basis but as the profession’s reference behind carriers’ own first-order tables. (ii) Rentengarantiezeit: “Stirbt die versicherte Person während der Rentengarantiezeit, so wird die monatliche Rente bis zum Ablauf der Rentengarantiezeit weiter gezahlt”, with the illustration of a ten-year period and death after three, and an option to commute the remaining instalments to “eine einmalige Kapitalleistung” — the certain floor behind certain_floor and check_guarantee_certain, and the second settlement form the model does not implement. The period runs “ab Versicherungsbeginn”. (iii) Payment timing: “Die erste Rente wird einen Monat nach dem vereinbarten Versicherungsbeginn gezahlt. Die garantierte monatliche Rente wird an jedem Monatsersten gezahlt” — monthly in arrears, which contradicts the model’s vorschüssig std convention; see the note at the end of this file. (iv) Überschussverwendung: a dynamische Überschussrente whose “jeweils erreichte Rentenhöhe kann nicht mehr sinken” and a teildynamische Bonusrente whose additional amount “ändert sich, wenn sich der hierfür maßgebende Überschussanteilsatz ändert”, increasing “erstmals zum Ende des ersten Versicherungsjahres” — the anniversary step behind check_annuity_roll_fwd and pitfall 14 — and “Ein Wechsel der Überschussverwendungsarten ist ausgeschlossen”, the irrevocability product-spec.md had tagged unverified. (v) Charge structure: “Bei Verträgen gegen Einmalbeitrag werden von uns die Abschluss- und Vertriebskosten vollständig zu Vertragsbeginn mit diesem verrechnet. Die übrigen Kosten werden von uns über die gesamte Vertragslaufzeit verteilt” — exactly the α-once-plus-β-running shape the model implements, though no level is given. § 13 supplies the no-surrender clause: “Eine sofort beginnende Rentenversicherung können Sie nicht kündigen.”

S5 — NÜRNBERGER Lebensversicherung AG, “Allgemeine Bedingungen für die Rentenversicherung mit aufgeschobener Rentenzahlung und Rentengarantiezeit nach Tarif NIR3301”, document id `gn331451_p`#

Publisher / doc type: NÜRNBERGER Lebensversicherung AG; AVB for a deferred annuity with Rentengarantiezeit, tariff NIR3301
URL: https://www.nuernberger.de/medien/4allportal/gn331451_p.pdf — recorded by the sibling file [S9 there] from a search result
Retrieved: yes (PDF, 17 pp., edition GN331451_202501, read 2026-08-30)
Used for: two things, the second far more important than the entry previously claimed. (i) The Rentengarantiezeit as a tariff-level design feature carried in the product’s own name, not a rider bolted on; product-spec.md cites it in the Rentengarantiezeit row and technical-notes.md in class (a) for guar_years × payment_freq instalments being payable regardless of survival from Rentenbeginn — the fact behind certain_floor, check_guarantee_certain and pitfalls 2 and 3. Its § 1 pays “die Rente monatlich, jeweils zum Monatsersten”. (ii) The pricing-primitive claim, stated in the strongest terms anywhere in the corpus. § 1 Abs. 1 fixes the conversion factor at Rentenbeginn “nach anerkannten Regeln der Versicherungsmathematik mit unserem dann aktuellen Rechnungszins und unserer dann aktuellen unternehmenseigenen anerkannten Sterbetafel … maßgeblich sind Rechnungszins und Sterbetafel in der Beitragskalkulation vergleichbarer, dann bei uns zum Verkauf geöffneter Rentenversicherungen mit sofort beginnender Rentenzahlung”, and names the comparable tariff outright: “Beispiel: Zum Zeitpunkt des Abschlusses Ihres Vertrags war in diesem Sinne der Tarif NR3303 vergleichbar” — that is [S4]. A deferred German annuity converts on the bases of the carrier’s own Sofortrente tariff, by the deferred contract’s own terms. This is the clause product-spec.md should cite for the Sofortrente being the pricing primitive of every deferred German annuity, in place of the paraphrase it had attributed to [S7]

S6 — Cosmos Lebensversicherungs-AG (CosmosDirekt), “Allgemeine Bedingungen für die Rentenversicherung”, tariff LA 904 A (01.17)#

Publisher / doc type: Cosmos Lebensversicherungs-AG, the direct-writing arm of Generali Deutschland; Allgemeine Bedingungen (AVB), tariff code LA 904 A, edition 01.17 — January 2017, which resolves research gap 6
URL: https://www.cosmosdirekt.de/resource/blob/89106/31bbdccea1c7a5a530feb9e2a3be8d1c/allgemeine-bedingungen-rentenversicherung-la-904-a--data.pdf — recorded by the sibling file [S8 there] from a search result
Retrieved: yes (PDF, 8 pp., edition LA 904 A (01.17), read 2026-08-30)
Used for: two of the three claims this entry carried are withdrawn; the document does not contain them. The phrases the library had attributed to it came from an English-language search summary, and reading the AVB shows what it actually says. (i) DAV 2004 R does not appear in this document at all — the string “DAV” and the year 2004 are absent from all eight pages. The mortality basis of a German annuity tariff is now evidenced instead by [S2] and [S3], which name DAV 2004R (Aggregattafel) in terms, and qualified by [S4], which names a company table. (ii) “an underlying interest rate (currently 0 percent p.a.)” is not in the document. The only tariff rate it states is “der tarifliche Garantiesatz von 0,90 Prozent p. a.”, in § 1 Abs. 2 on the Deckungskapital accumulated for a Kapitalabfindung — and 0,90 % was precisely the Höchstrechnungszins in force when this 01/2017 edition was written REG-R15, so the document shows a carrier pricing at the cap, not below it. No retrieved delib document shows below-cap pricing; check_tariff_int_rate remains an inequality because § 2 DeckRV sets a cap REG-R14, which is the right reason for it, and not because a carrier was observed under it. (iii) What the document does carry, and carries well: the Kapitalrückgewähr definition, “wird der gezahlte Einmalbeitrag … abzgl. der bis zum Todeszeitpunkt gezahlten garantierten Renten geleistet”, with the entitlement extinguished once cumulative guaranteed instalments reach the Einmalbeitrag — R23’s mechanic in an insurer’s own words, including that it is measured on the guaranteed annuity, which product-spec.md had adopted as a std argument. The Rentengarantiezeit with a commutation alternative: “Alternativ steht dem Bezugsberechtigten die Möglichkeit offen, das für die Rentengarantiezeit zum Todeszeitpunkt zur Verfügung stehende Deckungskapital in einer Summe ausgezahlt zu erhalten.” The standard surplus disclaimer, verbatim: “Die Höhe der Überschussbeteiligung hängt von vielen Einflüssen ab. Diese sind nicht vorhersehbar und von uns nur begrenzt beeinflussbar.” That the konstante form (its Zusatzrente) is reducible — “Falls wir in einem Jahr nicht ausreichend Überschüsse erwirtschaften, kann die Zusatzrente reduziert werden” — which is R21’s central claim at clause level. And the MindZV shares in the carrier’s own summary: “mindestens 90 Prozent” of the Risikoergebnis, “mindestens 50 Prozent” of the übrige Ergebnis REG-R18. Finally, the immediate annuity is inside this AVB’s scope: § 1 Abs. 1 covers “Leibrentenversicherungen mit sofort beginnender Rentenzahlung gegen Einmalbeitrag”, for which “wird die erste Rente je nach vereinbarter Rentenzahlungsweise ein Jahr, ein halbes Jahr, ein viertel Jahr oder einen Monat nach dem vereinbarten Versicherungsbeginn gezahlt” — a second carrier paying in arrears; see the note at the end of this file

S7 — Allianz Lebensversicherungs-AG — the immediate-annuity tariff statement, and the Allianz immediate-annuity product documents#

Publisher / doc type: Allianz Lebensversicherungs-AG, Stuttgart; (a) the “Vorsorgekonzept KomfortDynamik” product page, recorded by the sibling file [S13 there] from a search result; (b) the carrier’s PrivatSofortRente product page, located on the publisher’s own site from (a) on 2026-08-30; (c) Allianz’s own Sofortrente contract documents — PIB, AVB, BIB — still not established
URL: (a) https://www.allianz.de/vorsorge/vorsorgekonzept/komfortdynamik/; (b) https://www.allianz.de/vorsorge/sofortrente/; (c) not established
Retrieved: yes for (a) and (b) (both read 2026-08-30); no for (c) — no document URL was found on the publisher’s site
Used for: all three claims previously attributed to (a) are withdrawn — none of them is on that page. KomfortDynamik is a deferred hybrid savings product page whose quantitative content is a choice of Garantieniveau at 60 %, 80 % or 90 % of premiums paid; it does not mention the Rentengarantiezeit, does not describe monthly payment, and contains no sentence about the calculation bases at Rentenbeginn. The paraphrase product-spec.md printed in quotation marks as Allianz’s — that the bases “relate to the interest rate and mortality table that the company uses at that time for immediately beginning annuities” — appears nowhere in it and has been removed; [S5] carries that proposition as an actual contract clause and now bears it. What (b) does establish, and it is the first carrier-level product detail in this file: the product exists under the name PrivatSofortRente; the Auszahlungsturnus is “wahlweise monatlich, viertel-, halbjährlich oder jährlich”; the Mindesteinmalbeitrag is 3.000 €; the Höchsteintrittsalter is 85 Jahre for the lifelong form; a Todesfallleistung ab Rentenbeginn is available in variants; and buying a Rentengarantiezeit or Hinterbliebenenrente means accepting “eine geringere monatliche Rente”. The page states the annuity is taxed on the Ertragsanteil R13 and prints no rate. (c) still supports only the disclosure that no Allianz immediate-annuity tariff code or quotation was established, and the observation cited with [S8] that the classic deferred tariff was withdrawn at four large carriers

S8 — Debeka Lebensversicherungsverein a. G. — AVB series B LV, the “Privatrente” page, and the Sofortrente page#

Publisher / doc type: Debeka Lebensversicherungsverein a. G., Koblenz; AVB in the house B LV series — the retrieved instance is B LV 85 (01.07.2026), Allgemeine Bedingungen für eine Rentenversicherung mit aufgeschobener Rentenzahlung und Fondskomponenten nach Tarif CA2I — plus the insurer’s Privatrente and Sofortrente product pages
URL: https://www.debeka.de/content/dam/de/webauftritt/vertragsgrundlagen/lebens-rentenversicherung/BLV85.pdf and https://www.debeka.de/privatkunden/vorsorgensparen/zukunftalter/privatrente.html — both recorded by the sibling file [S11] [S12 there]; and https://www.debeka.de/privatkunden/vorsorgensparen/zukunftalter/sofortrente.html, located from the Privatrente page on the publisher’s own site on 2026-08-30
Retrieved: yes — all three read 2026-08-30 (B LV 85 as a PDF, 21 pp.)
Used for: the single most consequential retrieval in this file, because the Sofortrente page carries an annuity rate table and the corpus had none. Under “Berechnungsbeispiel”, “Exemplarisches Beispiel für eine sofort beginnende Rentenversicherung nach Tarif S1, einmaliger Beitrag: 50.000 Euro”, with a 20-year Rentengarantiezeit and Stand: 01.01.2025, the guaranteed monthly annuity by age at Rentenbeginn is 60 → 133 €, 61 → 136 €, 62 → 140 €, 63 → 143 €, 64 → 147 €, 65 → 151 €, 66 → 155 €, 67 → 159 €. The same panel states the payout-phase increase actually granted: “Im Jahr 2024 beträgt die Steigerung der Rente 0,75 Prozent.” So a carrier’s tariff code (S1), a quoted Rentenhöhe and a realised Rentenanpassung are all now in the corpus, and the blanket disclosures that none of the three was established anywhere are withdrawn (research gaps 4, 5 and 16 narrow to “one carrier, one vintage”). The page also confirms that Debeka does write a stand-alone Sofortrente, the question this entry previously left open; gives the Rentengarantiezeit illustration “Bei einer Rentengarantiezeit von 20 Jahren wird die Rente im Fall des Todes nach 12 Jahren noch 8 weitere Jahre an eine begünstigte Person ausgezahlt”; and states the Ertragsanteil in the insurer’s own words with the corroborated cell — “Das sind zum Beispiel 18 % bei Rentenbeginn mit Vollendung des 65. Lebensjahrs” R13. The Deckungskapital definition this entry was cited for is not in B LV 85 in the form the library reproduced: that AVB is a fondsgebunden deferred tariff, and its § 34 forms the Deckungskapital out of the Sparanteil left after costs and the risk contribution — the same idea, but stated for a premium stream and a garantiebasierter Baustein, not as the general definition. product-spec.md and technical-notes.md keep the netting step Nettoeinmalbeitrag = Einmalbeitrag × (1 − α), now cited to [S4]’s explicit single-premium charge clause instead. With [S7], the entry still carries the withdrawal of classic deferred tariffs

S9 — GDV, “Allgemeine Bedingungen für die Hinterbliebenenrenten-Zusatzversicherung zur Rentenversicherung”#

Publisher / doc type: GDV; Musterbedingungen for the survivor’s-annuity rider
URL: https://www.gdv.de/resource/blob/6336/942f7b9aec6a969b486ec205279870a3/allgemeine-bedingungen-fuer-die-hinterbliebenenrenten-zusatzversicherung-zur-rentenversicherung-mit-aufgeschobener-rentenzahlung-0-pdf-data.pdf — recorded by the sibling file [S10 there]. The slug names the deferred annuity, and a separate set for the immediate one does exist: the [S1] index links https://www.gdv.de/resource/blob/6334/5fd00dfe4be51e918d69159d74a75998/allgemeine-bedingungen-fuer-die-hinterbliebenenrenten-zusatzversicherung-zur-rentenversicherung-mit-sofort-beginnender-rentenzahlung-0-pdf-data.pdf
Retrieved: yes (PDF, 6 pp., Stand: 14.11.2019, read 2026-08-30)
Used for: the structural fact the documents need about the Hinterbliebenenrente — that the German market treats it as a Zusatzversicherung, a rider with its own condition set, attached to the base contract rather than being a benefit of it — which the retrieved template confirms from its title down: “Die Hinterbliebenenrenten-Zusatzversicherung ergänzt die als Hauptversicherung abgeschlossene Rentenversicherung.” product-spec.md cites it in the lives-basis and survivor-annuity rows, and technical-notes.md for the direct modelling consequence: a separate gated leg with its own insured life, off in the base run. Two mechanics the retrieval adds. The rider pays “solange die mitversicherte Person lebt”, at the main annuity’s own Fälligkeitstage, “erstmals an dem Fälligkeitstag, der auf den Tod der versicherten Person folgt”; and if the mitversicherte Person dies first, “erbringen wir keine Leistung aus der Zusatzversicherung, und diese endet” — the lapse-without-refund the specification describes. Its § 1 Abs. 3 settles the interaction with the Rentengarantiezeit, which the model must respect and the specification had not stated: where the annuitant dies inside the guarantee period, “zahlen wir die Hinterbliebenenrente erst nach Ablauf der Rentengarantiezeit” — the two floors run in sequence, not in parallel. The 60 % and 100 % levels attributed to the market remain [unverified]: the model conditions state no percentage at all, leaving the level to the individual contract, so the source is now known to be silent on the point rather than merely unread

S10 — Konzern Versicherungskammer, “Überschussverteilung 2026”#

Publisher / doc type: Konzern Versicherungskammer, the Bavarian public-sector insurance group; the annual Überschussverteilung document — how a German life insurer publishes its declared Überschussanteilsätze for a year, by tariff generation and by phase
URL: https://www.konzern-versicherungskammer.de/dam/jcr:acf4c857-3b53-4521-a108-d1fb9b1cec67/BL_Ueberschussbeteiligung_2026.pdf — recorded by the sibling file [S15 there] from a search result
Retrieved: yes (PDF, 145 pp., Überschussverteilung 2026, read 2026-08-30; the sections used are Bayern-Versicherung Lebensversicherung AG’s)
Used for: the disclosure this entry carried is withdrawn — the document does contain rates, a component split and two rules specific to this product. For Einzel-Rentenversicherungen (§ 3.1.1), the Zinsüberschussanteil während des Rentenbezugs is, for tariff generations 2015 through 2025, “3,35 % (2,5 %) abzüglich Rechnungszins”, the bracketed figure being the 2025 declaration and the unbracketed one 2026; the corresponding accumulation-phase rate is “3 % (2,25 %) abzüglich Rechnungszins”. Against a 1,00 % tariff rate that is a 2,35 % interest surplus for 2026. The component split is stated outright: in the payout phase the surplus is “Zinsüberschussanteil in Prozent des Deckungskapitals” and “Ein Risiko- oder Verwaltungskostenüberschussanteil wird nicht gewährt” — at this carrier the payout-phase annuity increase is funded from interest surplus alone. Timing and use: “Der laufende Überschussanteil wird am Ende des Versicherungsjahres zugeteilt”, with the forms “während des Rentenbezugs: Bonusrente oder Überschussrente” — the anniversary step [S15] and the two payout forms. Two rules bear on the Sofortrente specifically: “Rentenversicherungen mit sofort beginnender Rentenzahlung erhalten keine Schlussüberschussbeteiligung” and “Rentenversicherungen mit sofort beginnender Rentenzahlung erhalten keine Mindestbeteiligung” at the Bewertungsreserven. The Bewertungsreserven themselves are allotted “zur Hälfte dem Vertrag” REG-R24 and measured, in payment, “jeweils für den Monat vor dem Jahrestag der Versicherung”. product-spec.md and technical-notes.md keep every figure in surplus_scale_table.csv as std — the shipped scale is not this carrier’s and was not calibrated to it — but they no longer say that no rate was established anywhere, and the class (b) label is now supported by a declaration rather than only by argument

S11 — Produktinformationsblatt (PIB) for a sofort beginnende Rentenversicherung — document class#

Publisher / doc type: each insurer individually; the short pre-contractual product summary required by German insurance-distribution law REG-R31 REG-R33. For an annuity it states the Einmalbeitrag, the garantierte Rente, the Gesamtrente including declared surplus, the Rentengarantiezeit, the death benefit and the costs
URL: not established, for any carrier
Retrieved: no — no instance was located on any carrier’s site on 2026-08-30. The two carrier product pages retrieved for this product ([S7] Allianz, [S8] Debeka) link a Beratung funnel and, at Debeka, the AVB, but neither publishes a specimen PIB
Used for: known reference only, and cited in product-spec.md for the disclosure that the class which would settle almost every remaining quantitative gap at a stroke — because a PIB for a Sofortrente prints the guaranteed and total annuity for a stated Einmalbeitrag and age, and the Effektivkosten with them — is the class of which not one instance was located. [S8]’s Berechnungsbeispiel now supplies the guaranteed half of that for one carrier at one vintage; no total annuity including declared surplus, and no charge parameter, was established at any carrier (research gap 8)

S12 — Basisinformationsblatt (PRIIP-KID) for a sofort beginnende Rentenversicherung — document class#

Publisher / doc type: each insurer individually; the three-page key information document required by the PRIIPs Regulation REG-R32, with its Risikoindikator, four performance scenarios and Renditeminderung cost figures
URL: not established, for any carrier
Retrieved: no — no instance was located on any carrier’s site on 2026-08-30, and none of the five insurer packs retrieved for this product ([S2] [S3] [S4] [S5] [S6]) contains or reproduces a Basisinformationsblatt
Used for: known reference only, with the scope question still open. product-spec.md cites it for two things: that if a BIB exists it is the only public document giving a cost figure in the standardised Renditeminderung form, and that whether a payout-only Sofortrente is within PRIIPs scope at all was not established — its payout-only character and the absence of a surrender value after Rentenbeginn R1 make the holding-period and “what you might get back” sections awkward. Retrieval does not settle it: [S4]’s cost clause points the reader to “dem Kostenausweis nach § 2 VVG-InfoV” REG-R31 and says nothing about PRIIPs (research gap 8)

S13 — Carriers writing the product, recorded without documents#

Publisher / doc type: none — carrier names only: Allianz [S7]; R+V; Debeka [S8]; Generali and CosmosDirekt [S6]; Dialog; HDI; Alte Leipziger; LV 1871; Continentale and Europa; NÜRNBERGER [S4] [S5]; Swiss Life; Zurich Deutscher Herold [S2] [S3]; ERGO; AXA; Barmenia; Hannoversche; Württembergische; Gothaer; Stuttgarter [S14]; Volkswohl Bund; Baloise; Universa; DEVK; Signal Iduna; Provinzial; HUK-Coburg; Konzern Versicherungskammer [S10]; Mecklenburgische [S14]
URL: not established as a list; three of the named carriers now have retrieved documents or product pages of their own — Allianz [S7], Debeka [S8], NÜRNBERGER [S4] [S5] — and two more have retrieved AVB, Zurich Deutscher Herold [S2] [S3] and CosmosDirekt [S6]
Retrieved: no — the list itself is a research artefact with no document behind it, and no carrier census was retrieved
Used for: the Sofortrente’s character as a commodity product ranked by comparison portals on the single dimension of Rentenhöhe, and for the disclosure carried in product-spec.md’s variation section that the observed-variation table is structural, not a rate comparison. That disclosure is narrowed rather than withdrawn: two carrier product names are now established — Allianz’s PrivatSofortRente [S7] and Debeka’s Sofortrente on tariff S1 [S8] — with one quoted rate scale and one Mindesteinmalbeitrag between them, and five carriers have a retrieved AVB. What remains unestablished, and is what a variation table would need, is any comparison: no two carriers’ quotations on the same case, no spread, no charge at any of them (research gap 2). Naming any of the other twenty-three carriers here asserts that it is a German life insurer of the right kind and nothing more

S14 — Stuttgarter Lebensversicherung a. G. and Mecklenburgische Lebensversicherungs-AG — further pre-contractual packs#

Publisher / doc type: Stuttgarter Lebensversicherung a. G., “Allgemeine Informationen zu einem Altersversorgungssystem”; Mecklenburgische Lebensversicherungs-AG, “Vertragsinformationen für die Private Rentenversicherung mit flexiblem Fondsanteil (Hybrid)”, Version 07.2025, product B Privat-Rente Flex — the truncated title is now complete
URL: https://www.stuttgarter.de/documents/209195/221255/Allgemeine_Infos_Altersversorgungssystem_SLV.pdf/2657ea66-2bfa-9cec-04d2-8f72ac9731bd?t=1604038997833 and https://www.mecklenburgische.de/pdfs/produkte/vertragsinformationen/Vertragsinformationen-zu-Leben/rente-flex_vertragsinformationen.pdf — both recorded from search results in _research/klassische_rentenversicherung.md, as S18 and S14 respectively
Retrieved: yes — both read 2026-08-30 (PDFs of 23 and 27 pp.)
Used for: both claims this entry carried need correcting. The naming fact is only half right. The Mecklenburgische document is indeed the VVG-InfoV pre-contractual pack under another name and says so, listing itself among “den weiteren Informationen, die nach VVG-Informationspflichten-verordnung zur Verfügung zu [stellen sind]” REG-R31. The Stuttgarter document is not the same class: it is a betriebliche Altersversorgung scheme document — “Die betriebliche Altersversorgung beruht auf einer arbeitsrechtlichen Zusage zwischen Arbeitgeber und Arbeitnehmer” — and never invokes the VVG-InfoV. So Verbraucherinformation and Vertragsinformationen are two names for the pre-contractual pack; Allgemeine Informationen zu einem Altersversorgungssystem is a bAV document, and a later build should not search for it as a synonym. The Aufschubzeit claim goes entirely: “Rente flex” is a hybrid unit-linked deferred annuity, not a short-deferment immediate one, so it is not a candidate for that variant and the corpus has none — research gap 17 closes as a negative, no carrier’s short-deferment Sofortrente terms having been located

S15 — The annual Standmitteilung and Rentenanpassungsmitteilung in the Rentenbezug — document class#

Publisher / doc type: each insurer; the GDV publishes a Muster-Standmitteilung. For a contract in the Rentenbezug the statement reports the garantierte Rente, the current Überschussrente, the resulting Gesamtrente, and the increase taking effect at the anniversary under a rising Überschussverwendung REG-R25
URL: not established for the payout form; no specimen Standmitteilung or Rentenanpassungsmitteilung was located at any carrier on 2026-08-30
Retrieved: no for the statement itself — the document class is one an insurer sends to a policyholder rather than publishes. The rules behind it, however, are now retrieved from the AVB and the declaration that generate it, so the entry’s substance no longer rests on the unretrieved specimen
Used for: the increase date, which is now established four times over rather than assumed. [S4] increases the annuity “erstmals zum Ende des ersten Versicherungsjahres”; [S2] “frühestens im zweiten Versicherungsjahr”; [S10] allots the running surplus “am Ende des Versicherungsjahres” and measures the Bewertungsreserven in payment “jeweils für den Monat vor dem Jahrestag der Versicherung”; and [S6] credits at “jedem Versicherungsjahrestag”. product-spec.md and technical-notes.md cite this for the Überschussrente stepping at the policy anniversary rather than on a calendar date — the fact behind check_annuity_roll_fwd and pitfall 14 — and for the running expense the annual statement and proof-of-life routine represent, the latter now clause-level at [S2] § 8 Abs. 2 and [S4] § 7 Abs. 1, both “auf unsere Kosten”. Two disclosures change. Model point 10’s annuity_pp_init stays std because no Standmitteilung was located, but the corpus is no longer without evidence of what a Rentenanpassung has done: [S8] reports “Im Jahr 2024 beträgt die Steigerung der Rente 0,75 Prozent” for its own Sofortrente, and [S10] declares the 2026 payout-phase Zinsüberschussanteil that drives one (research gap 16 narrows to one carrier, one year)

Regulatory and actuarial references (product research numbering)#

R1 — VVG § 168, Kündigung des Versicherungsnehmers — the rule that ends surrender at Rentenbeginn#

Publisher / doc type: Bundesministerium der Justiz / juris; statutory provision
URL: https://www.gesetze-im-internet.de/vvg_2008/__168.html — the canonical human-facing link; the page itself is a 5 kB frameset carrying no statutory text, so it is kept as a pointer and is not what was read
Retrieved: yes (canonical XML from gesetze-im-internet.de/vvg_2008/xml.zip, Stand: zuletzt geändert durch Art. 12 G v. 26.5.2026 I Nr. 156, read 2026-08-30)
Used for: the provision on which this product’s “no surrender, no lapse, no paid-up” specification rests — and reading it shows the library had the mechanism wrong. § 168 Abs. 3 does not confine termination in a Rentenversicherung ohne Kapitalwahlrecht to the period before payments start. It disapplies Abs. 1 and 2 only for a pension contract in two cases: a Basisrentenvertrag certified under § 5a AltZertG where the parties excluded realisation of the claim, and where realisation was irrevocably excluded to obtain the Pfändungsschutz of § 851c or § 851d ZPO. Neither reaches a Schicht-3 Sofortrente, so the discrepancy product-spec.md recorded between this entry and REG-R28 resolves in REG-R28’s favour and gap 9 closes. The correct route to the same conclusion is Abs. 1 and Abs. 2 themselves: Abs. 1 gives a termination right only where “laufende Prämien zu zahlen” sind, and a Sofortrente has none; Abs. 2 extends it to a single-premium contract only “bei einer Versicherung, die Versicherungsschutz für ein Risiko bietet, bei dem der Eintritt der Verpflichtung des Versicherers gewiss ist” — and on a pure Leibrente the insurer’s obligation is not certain, the annuitant may die at once. So no statutory termination right arises at all, which is exactly what the AVB implement: “Eine sofort beginnende Rentenversicherung können Sie nicht kündigen” [S4], “Zu Lebzeiten der versicherten bzw. mitversicherten Person ist eine Kündigung der Versicherung ausgeschlossen” [S2], and the GDV template’s “Sie können Ihren Vertrag nicht kündigen” [S1]. The entry keeps its role in product-spec.md for the absence of a capital option, of a Rückkaufswert and of any lapse, and in technical-notes.md for the empty behavioural class — the conclusion was right throughout; only the citation was wrong. The one qualification stands: a surrender right may exist inside an Aufschubzeit, on terms no carrier’s document established, which is why the base run switches the deferment off

R2 — VVG § 169, Rückkaufswert#

Publisher / doc type: Bundesministerium der Justiz / juris; statutory provision
URL: https://www.gesetze-im-internet.de/vvg_2008/__169.html — the canonical human-facing link; the page is a frameset shell and is kept as a pointer only
Retrieved: yes (canonical XML, Stand: zuletzt geändert durch Art. 12 G v. 26.5.2026 I Nr. 156, read 2026-08-30)
Used for: its boundary, which is the point — and the boundary runs where the section itself draws it, not where R1 was said to draw it. § 169 Abs. 1 imposes the duty to pay a Rückkaufswert only where the contract “Versicherungsschutz für ein Risiko bietet, bei dem der Eintritt der Verpflichtung des Versicherers gewiss ist” — the same gateway as § 168 Abs. 2. A pure life annuity is not such a contract, so § 169 never engages; it is inapplicable by its own terms rather than “displaced by § 168 Abs. 3”, which is how product-spec.md had it. The two rules the entry flagged [unverified] are confirmed and can now be stated exactly: Abs. 3 sets the surrender value as the Deckungskapital computed on the premium bases, “bei einer Kündigung des Versicherungsverhältnisses jedoch mindestens der Betrag des Deckungskapitals, das sich bei gleichmäßiger Verteilung der angesetzten Abschluss- und Vertriebskosten auf die ersten fünf Vertragsjahre ergibt” — the five-year spreading floor; and Abs. 5 permits a deduction “nur … wenn er vereinbart, beziffert und angemessen ist”, with any deduction for unamortised acquisition costs void. Consequently Sofort_DE_S publishes no surrender-value cells, no Stornoabzug and no five-year cost-spreading rule — a specification rather than an omission, stated in that form in both documents and asserted by the test module’s absent-names check

R4 — VVG § 163, Anpassung der Prämie oder der Vertragsbestimmungen#

Publisher / doc type: Bundesministerium der Justiz / juris; statutory provision, with commentary
URL: https://www.gesetze-im-internet.de/vvg_2008/__163.html — the canonical human-facing link; the page is a frameset shell and is kept as a pointer only
Retrieved: yes (canonical XML, Stand: zuletzt geändert durch Art. 12 G v. 26.5.2026 I Nr. 156, read 2026-08-30)
Used for: the immutability of the garantierte Rente, cited with REG-R27, whose three cumulative conditions can now be stated from the section rather than from commentary: a change in the Leistungsbedarf that is “nicht nur vorübergehend und nicht voraussehbar”, a re-set premium “angemessen und erforderlich …, um die dauernde Erfüllbarkeit der Versicherungsleistung zu gewährleisten”, and confirmation by “ein unabhängiger Treuhänder” — with adjustment excluded “insoweit, als die Versicherungsleistungen zum Zeitpunkt der Erst- oder Neukalkulation unzureichend kalkuliert waren”. Reading it sharpens the point for this product: Abs. 1 authorises a re-set of the premium, of which a Sofortrente has none after inception, and only Abs. 2 Satz 2 reaches the benefit — “Bei einer prämienfreien Versicherung ist der Versicherer unter den Voraussetzungen des Absatzes 1 zur Herabsetzung der Versicherungsleistung berechtigt” — so the channel is narrower here than the general commentary suggests. The Landgericht Köln decision remains unestablished: no case reference, date or parties, and the statute is silent on the point; the claim that a low-interest phase is entrepreneurial risk that cannot be passed on is kept as commentary and tagged accordingly. The model treats annuity_guar_pp(t) as level for life and records § 163 as a model risk

R5 — VVG § 165, Prämienfreie Versicherung, and § 166, Kündigung des Versicherers#

Publisher / doc type: Bundesministerium der Justiz / juris; statutory provisions
URL: https://www.gesetze-im-internet.de/vvg_2008/__165.html — the canonical human-facing link; the page is a frameset shell and is kept as a pointer only
Retrieved: yes — both sections read as canonical XML, Stand: zuletzt geändert durch Art. 12 G v. 26.5.2026 I Nr. 156, 2026-08-30
Used for: a boundary again, and the reading holds. § 165 Abs. 1: “Der Versicherungsnehmer kann jederzeit für den Schluss der laufenden Versicherungsperiode die Umwandlung der Versicherung in eine prämienfreie Versicherung verlangen, sofern die dafür vereinbarte Mindestversicherungsleistung erreicht wird.” A Sofortrente is bought with a single Einmalbeitrag and is premium-free from the moment it is paid, so there is no future premium to cease and the conversion has nothing to operate on. § 166 Abs. 1 converts on the insurer’s termination and refers back to § 165, so it is inert here for the same reason. Note that neither section says “laufende Prämien” in terms — the restriction is functional, not textual, and the entry states it that way now. Both documents cite this for the absence of a Beitragsfreistellung decrement being a specification rather than a simplification

R8 — DAV recommendations on the Höchstrechnungszins for 2025 and 2026#

Publisher / doc type: Deutsche Aktuarvereinigung e. V. (DAV), Cologne; press items, recorded by title as R8 and R9 in the sibling file _research/klassische_rentenversicherung.md
URL: not established — no DAV press item was located on aktuar.de or elsewhere on 2026-08-30, and the two titles remain the sibling file’s search record
Retrieved: no — the DAV documents themselves were not found. The proposition they were cited for is now independently retrieved, which is the material change: three insurer AVB of 2025 and 2026 vintage state a Rechnungszins of 1,00 % — [S2] and [S3] as “ein Rechnungszins in Höhe von 1,00 %”, [S4] as “einem garantierten Rechnungszins von 1 % p. a.” — and R21 records “Seit 2025 liegt er wieder bei einem Prozent”
Used for: the single point that a contract written in 2026 sits on the same interest basis as one written in 2025, which matters here because tariff vintage and contract vintage are the same date. The attribution shifts from the DAV recommendation, which was not read, to the tariffs that implement it. Cited in product-spec.md beside REG-R15 and REG-R56; the closing row of hoechstrechnungszins_table.csv carries it in its provenance tag

R10 — DAV, “Herleitung der DAV-Sterbetafel 2004 R für Rentenversicherungen”#

Publisher / doc type: Deutsche Aktuarvereinigung e. V.; DAV-Richtlinie, the profession’s derivation guideline for the annuity table. In use since June 2004, for new business from 2005, the DAV document dated 22 February 2005, the derivation guideline reissued 28 June 2023
URL: not established — no DAV derivation document was located on 2026-08-30; the document and its 2023 reissue remain the sibling file’s search record
Retrieved: no — the Herleitung is a DAV members’ document, not published on the open web, so this is a permanent rather than a temporary condition. DAV 2004 R is DAV property, is not public and is not redistributed by delib. What retrieval adds is external corroboration that the table is in live use and how: [S2] and [S3] name “die Sterbetafel DAV 2004R (Aggregattafel)” as the basis of a 2025/2026 annuity tariff — the first time the corpus can attach a named variant to it — while [S4] shows a carrier pricing the same product on its own “NÜRNBERGER Tafel 2013 R” instead. DAV 2004 R is therefore the profession’s reference table, not a universal tariff basis, and product-spec.md no longer asserts it as the mortality basis of every German annuity
Used for: the mortality basis of this product, structurally. Four claims rest on it and each shapes the model. That DAV 2004 R is a Generationentafel, mortality given per birth cohort with the expected improvement inside the table — which is why birth_year is a model point attribute, why mort_rate_gen takes a cohort, and why a period proxy is pitfall 8. That its component structure carries a mortality trend in both a first- and a second-order version — which is why the shipped proxy’s first-order margin reaches the trend as well as the level and why collapsing them is pitfall 9. That first-order probabilities carry safety margins relative to the second-order realistic ones, and that for an annuity prudent means lighter mortality. And that the table carries an Altersverschiebung whose convention was not established, which technical-notes.md records as a condition on any replacement table (research gap 12)

R11 — DAV 2004 R-Bestand and the Rentenbestandstafel RBx#

Publisher / doc type: Deutsche Aktuarvereinigung e. V.; the companion table for the existing annuity book, paired with the new-business table in a 2004 presentation titled “DAV 2004 R und RBx”
URL: not established — no DAV presentation or table was located on 2026-08-30; the pairing remains the sibling file’s search record
Retrieved: no — like R10 a DAV members’ document, not published; and none of the five insurer AVB retrieved for this product mentions a Bestand table, so the retrieved corpus is silent on it as well as unable to reach it
Used for: the pairing and nothing else. product-spec.md cites it for the fact that a Sofortrente is priced on the new-business table at inception and then spends thirty years in the Bestand to which the other table applies, and — explicitly — for the disclosure that the difference in level, in trend, in age range and in application rule between the two was not established, so nothing about it is asserted downstream (research gap 12). mort_table.csv’s provenance names both tables as cited-not-shipped

R12 — Contemporaneous expositions of DAV 2004 R (DGVFM, General Re, qx-Club)#

Publisher / doc type: Deutsche Gesellschaft für Versicherungs- und Finanzmathematik (DGVFM); General Reinsurance AG; the qx-Club actuarial seminar series — the profession’s own explanation of the table to practitioners, where the Sicherheitszuschlag structure and the trend construction were set out
URL: not established. _research/sofortrente.md records, from the sibling file _research/klassische_rentenversicherung.md (R14 there), presentations of 16 August 2004 and 14 September 2004 and a reinsurer’s exposition of 27 October 2004; all three dates are [unverified]
Retrieved: no — no DGVFM, General Re or qx-Club item was located on 2026-08-30; these are conference and seminar materials with no stable public address, and no content was established beyond the existence of the presentations and their dates, which remain [unverified]
Used for: nothing affirmative, and that is the whole of its role here. It is the entry the documents point at where they say what could not be established, and it is cited only outside the two specification documents: model.md names it beside R10 at the two places where the shipped Trendfunktion is declared std — in the input-file table and in the standardization table — and improvement_table.csv carries it in the provenance tag of every row, to record that DAV 2004 R’s own trend is not public and that these are the documents a later build should fetch to substantiate the first-order margin. No number in this library rests on it

R13 — EStG § 22 Nr. 1 Satz 3 Buchst. a Doppelbuchst. bb — the Ertragsanteil table#

Publisher / doc type: Bundesministerium der Justiz / juris; statutory provision
URL: https://www.gesetze-im-internet.de/estg/__22.html — this one does return the full section text, not a frameset, and is both the human-facing link and a usable source
Retrieved: yes (canonical XML from gesetze-im-internet.de/estg/xml.zip, and the HTML page as a cross-check, read 2026-08-30)
Used for: the product’s tax logic, which is its main commercial argument, and the whole schedule is now read rather than inferred. The statutory address is confirmed exactly as the library gives it: § 22 Nr. 1 Satz 3 Buchst. a Doppelbuchst. bb, whose Satz 4 reads “Der Ertrag des Rentenrechts (Ertragsanteil) ist aus der nachstehenden Tabelle zu entnehmen”, the table being indexed by “Bei Beginn der Rente vollendetes Lebensjahr des Rentenberechtigten”. Satz 3 fixes it “für die gesamte Dauer des Rentenbezugs”, which is the “never changed” the documents rely on. The two cells the specification prints check against it: 60 bis 61 → 22 % and 65 bis 66 → 18 %; neither carries [unverified] any longer, and nor does the schedule as a whole, which runs 59 % at ages 0–1 down to 1 % from 97. Satz 5 refers annuities depending on another person’s life, or limited in time, to a Rechtsverordnung — § 55 EStDV — which is where a Hinterbliebenenrente and a Rentengarantiezeit continuation would be measured, and is the part of gap 15 that stays open. Taxation falls on the annuitant and is not a cash flow in this model REG-R41

R14 — EStG § 20 Abs. 1 Nr. 6 — the Kapitalabfindung regime, and its boundary#

Publisher / doc type: Bundesministerium der Justiz / juris; statutory provision
URL: https://www.gesetze-im-internet.de/estg/__20.html — returns the full section text; both the human-facing link and a usable source
Retrieved: yes (canonical XML, plus § 52 for the Anwendungsvorschrift, read 2026-08-30)
Used for: a sharp boundary, now read — with one precision the library owed the reader. § 20 Abs. 1 Nr. 6 Satz 1 reaches the Unterschiedsbetrag “bei Rentenversicherungen mit Kapitalwahlrecht, soweit nicht die lebenslange Rentenzahlung gewählt und erbracht wird, und bei Kapitalversicherungen mit Sparanteil”, and Satz 4 extends it to “Erträge bei Rückkauf des Vertrages bei Rentenversicherungen ohne Kapitalwahlrecht”. A Sofortrente has no Kapitalwahlrecht, pays a lifelong annuity and cannot be surrendered R1, so none of the three gateways opens and the whole cash flow is taxed under § 22 R13 REG-R45 — the arbitrage against a Bankauszahlplan the product is sold on. The precision: the half-taxation rule in Satz 2 is written as 12 years and the 60th birthday, not 62. The 62 the library prints comes from § 52, which applies Satz 2 “für Vertragsabschlüsse nach dem 31. Dezember 2011 mit der Maßgabe …, dass die Versicherungsleistung nach Vollendung des 62. Lebensjahres des Steuerpflichtigen ausgezahlt wird”. So “12/62” is right for a contract written today and wrong as a citation to § 20 alone; both documents now cite the pair

R18 — BaFin material on life-insurance product oversight#

Publisher / doc type: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); Merkblatt 01/2023 (VA) on conduct supervision, the Risiken im Fokus cost section and the Fachartikel series, all recorded as R17–R19 in the sibling file _research/kapitallebensversicherung.md
URL: not established — no BaFin item was located on 2026-08-30; the titles remain the sibling file’s search record
Retrieved: no — the Merkblatt, the Risiken im Fokus cost section and the Fachartikel series were not reached at any address
Used for: one disclosure only, and it is unchanged by this pass. All of the supervisor’s Wohlverhaltensaufsicht material in the corpus is addressed to kapitalbildende products, i.e. the accumulation side, and whether BaFin has published anything on payout annuities, or scrutinises Rentenhöhe or surplus declarations for value, remains unestablished — which is what product-spec.md cites at the point where it would otherwise have reported a value-for-money expectation for this product REG-R35

R19 — GDV / dieversicherer.de, “Private Rentenversicherung: Auszahlmöglichkeiten”#

Publisher / doc type: GDV under its consumer brand Die Versicherer; consumer article
URL: https://www.dieversicherer.de/versicherer/altersvorsorge/news/auszahlung-private-rentenversicherung-141750
Retrieved: yes (article read 2026-08-30)
Used for: the industry association’s own account of a private annuity’s payout options — and the retrieved taxonomy is three forms, not the four the library printed. The article’s headings are “Die dynamische Rente”, “Die flexible Rente” and “Die teildynamische Rente”; Bonusrente does not appear, being a carrier’s name for the crediting mechanic rather than an association category ([S2] offers Bonusrente, Bonus-PLUS-Rente and Garantie-PLUS-Rente; [S4] offers a dynamische Überschussrente and a teildynamische Bonusrente; [S10] offers “Bonusrente oder Überschussrente”). The mechanics are stated precisely: the dynamic form’s additional annuity “erhöht dauerhaft die ursprüngliche Garantierente und kann nicht sinken”; the flexible form spreads projected surplus evenly so that it “bleibt über die gesamte Rentenzahlungsdauer konstant, so lange die Überschüsse so hoch sind, wie bei Rentenbeginn prognostiziert”; and the teildynamic form is the mixture, of which “Entwickeln sich die Überschüsse deutlich schlechter als erwartet, können teildynamische Überschussrenten auch sinken”. One sentence of the article conflicts with the contracts and is not adopted: “Auch bei der flexiblen und der teildynamischen Rente gilt, dass ihre Höhe nie unter das zu Rentenbeginn erreichte Niveau fallen kann” — [S6] and [S2] both permit the surplus component to be reduced, and the AVB control. No rate and no envelope was established from it

R20 — Franke und Bornberg, “Altersvorsorge: Überschüsse im Rentenbezug — Teil 1: Die Qual der Wahl”, and “Was bedeutet der Rentenfaktor und wie hoch ist er?”#

Publisher / doc type: Franke und Bornberg GmbH, Hannover — independent product-rating house; two blog articles, the second dated by its slug to 2021/2022
URL: https://www.franke-bornberg.de/blog/altersvorsorge-ueberschuesse-im-rentenbezug-teil-1-die-qual-der-wahl and https://www.franke-bornberg.de/de/blog/was-bedeutet-rentenfaktor-wie-hoch-2021-2022 — recorded as R19 in the sibling file _research/klassische_rentenversicherung.md from search results
Retrieved: mixed. “Die Qual der Wahl” — no: HTTP 404 at the cited URL on 2026-08-30, and it is not on the publisher’s current blog index under that or an adjacent slug, so the entry keeps it as a known reference and nothing is claimed from it beyond its title. “Was bedeutet der Rentenfaktor und wie hoch ist er?” — yes (article read 2026-08-30)
Used for: the disclosure this entry carried is withdrawn — the Rentenfaktor article does return levels. It defines the quantity, “wird pro 10.000 Euro angegeben … Bei einem Rentenfaktor von 30 erhält man zum vereinbarten Termin aus 100.000 Euro eine lebenslange monatliche Rente von 300 Euro”, and then reports the rating house’s own analysis: the average aktueller Rentenfaktor across carriers fell from 29,09 € in 2021 to 25,97 € in 2022, “ein Rückgang von 3,12 Euro oder 10,73 Prozent”, with Condor highest at 26,61 € (from 29,83 €). Two cautions travel with the figures and both matter here: they are deferred-tariff conversion factors, not Sofortrente quotations, though [S5] makes those the same bases; and they are struck in the 0,25 % Höchstrechnungszins era, so they are a floor for a contract written at 1,00 % rather than a comparator REG-R15. They are not used to calibrate anything — the model’s annuity table stays std — but the library no longer says no Rentenfaktor level exists in the corpus (research gap 5 narrows). The article also supports the § 163 model risk: “Auch ein garantierter Rentenfaktor ist nicht immer in Stein gemeißelt” R4. The professional treatment of the choice between Überschussverwendung forms rests on the 404’d article and is therefore carried by its title alone; it also stands behind surplus_scale_table.csv’s provenance tags

R21 — Consumer-organisation material on the Sofortrente#

Publisher / doc type: Finanztip Verbraucherinformation gemeinnützige GmbH; Stiftung Warentest (Finanztest); the Verbraucherzentralen
URL: https://www.finanztip.de/lebensversicherung/ueberschussbeteiligung-lebensversicherung/ and https://www.finanztip.de/lebensversicherung-versteuern/. The Sofortrente-specific pages of all three publishers were still not located on 2026-08-30 and no URL for them is given
Retrieved: yes for the two Finanztip pages (read 2026-08-30); no for Stiftung Warentest and the Verbraucherzentralen, whose Sofortrente material was not found
Used for: the single most important qualitative claim in this product’s documents, and the retrieval confirms it in terms. On the constant form: “In der Praxis kann Deine Rente aber durchaus schwanken. Denn wenn der Anbieter weniger verdient als erwartet, sinkt Deine Rente. Die Summe, die anfänglich festgelegt wird, ist nicht garantiert. Daher ist der Begriff „konstante Rente” etwas irreführend.” The [unverified] tag on the Überschussrente being declared, non-guaranteed and reducible therefore comes off; [S6] and [S2] carry the same at clause level. The taxonomy here is the same three forms as R19 — konstant, teildynamisch, (voll)dynamisch. The 15–25 % share of the payment at risk is not in either page and stays [unverified]: no source in the corpus quantifies the gap between guaranteed and total annuity, which is what makes surplus_init_pct a std. Two figures the pages do supply, both cross-product rather than product-specific: the Höchstrechnungszins history — four per cent at the end of the 1990s, 0,25 % at the trough, “Seit 2025 liegt er wieder bei einem Prozent” REG-R15 — and a laufende Verzinsung for 2026 at five of the ten largest carriers, Allianz 2,7 %, Alte Leipziger 2,4 %, AXA 3,0 %, Proxalto 2,7 %, Nürnberger 2,95 %, sourced to Assekurata R22, with the note that R+V, Generali, Debeka, Zurich and Bayern-Versicherung “geben die laufende Überschussbeteiligung nicht öffentlich bekannt”. product-spec.md still records that Stiftung Warentest’s periodic Sofortrente comparison is the single most valuable unlocated document for this product, its existence still [unverified]

R22 — Assekurata, “Marktstudie Überschussbeteiligungen und Garantien”#

Publisher / doc type: Assekurata Assekuranz Rating-Agentur GmbH, Cologne; the market’s annual survey of declared surplus rates, in its 24th edition, 2026, per the search record at R25 in the sibling file _research/kapitallebensversicherung.md
URL: not established — the study is sold, not published, and no copy or press summary was located on 2026-08-30; the title and edition number remain the sibling file’s search record
Retrieved: no — paywalled. What has changed is that the study is no longer the only route to the numbers: [S10] publishes one carrier group’s full declaration including the payout-phase Zinsüberschussanteil, [S8] one carrier’s realised Rentenanpassung, and R21 reproduces five carriers’ laufende Verzinsung for 2026 from Assekurata’s own data
Used for: the disclosure, wherever the documents state that every surplus parameter is std, that the aggregated market study itself yielded no rate, no average, no range and no payout-phase breakdown — true of the study, no longer true of the corpus (research gap 4 narrows). Locating it remains a high-value action for a later build, now for the spread rather than for a first number

R23 — Comparison-portal and broker cluster specific to the Sofortrente#

Publisher / doc type: vergleich-sofortrente.de; lifefinance.de; Verivox; CHECK24; and the German broker-blog cluster recorded as R24 in the sibling file _research/klassische_rentenversicherung.md. No individual page URL was recorded for any member and none is given here
URL: not established — no individual page URL was recorded for any member of the cluster and none was located on 2026-08-30
Retrieved: no — the cluster has no document behind it, only the sibling file’s record of search summaries, each fact corroborated by at least two members, and none of them is a price
Used for: most of this product’s definitional mechanics — and this pass moves the load off it, because primary documents now carry the same facts. The Rentengarantiezeit continuing to the beneficiaries until the agreed term expires is [S4] § 1 Abs. 2, [S6] § 1 Abs. 1 and the GDV template’s § 1 Abs. 2 [S1]; the Kapitalrückgewähr as the Einmalbeitrag less the instalments already paid, measured on the guaranteed annuity, is [S6] § 1 Abs. 1 and [S2] § 1 Abs. 5; the ratchet — surplus buying a permanent increment that “kann nicht mehr sinken” — is [S4] § 2 Abs. 5; monthly payment is [S4], [S5] and [S7]; the Ertragsanteil framing is [S8] and R13. What still rests on the cluster alone, and therefore stays weakly sourced, is the market envelope: the durations offered (5 / 10 / 15 / 20 / 25 / 30+), the typical choices (15 years to retirement age 70, 10 years thereafter, most policyholders choosing 10 to 20), and the illustration of a 10-year period with death after 6 — for which the corpus now has two primary alternatives, [S4]’s ten years with death after three and [S8]’s twenty years with death after twelve. No price point and no charge was established from the cluster (research gap 5); the one Rentenhöhe the corpus holds comes from [S8], not from here

R25 — GDV statistics on Einmalbeiträge and the German annuity market#

Publisher / doc type: GDV; “Die deutsche Lebensversicherung in Zahlen” and the statistical series “Neugeschäft und Bestand der Lebensversicherer für die letzten zehn Geschäftsjahre”, recorded as R20 and R21 in the sibling file _research/kapitallebensversicherung.md
URL: not established — neither statistical series was located at a GDV address on 2026-08-30
Retrieved: no — the two series were not reached, and the disclosure they support is unchanged
Used for: the disclosure that there is no sourced number anywhere in this product’s documents for the size of the German Sofortrente market, the contracts in force, the average Einmalbeitrag or the average purchase age (research gap 7). product-spec.md cites it with the reason that matters and that retrieval would not have removed: the GDV series separates Einmalbeiträge from laufende Beiträge, but that line aggregates Sofortrenten with single-premium endowments, bAV contributions and Zuzahlungen, so even a retrieved figure would not isolate this product. The one ticket-size datum the corpus now holds is a carrier minimum, not a market average: Allianz’s Mindesteinmalbeitrag of 3.000 € [S7]

Cross-product references ([REG-R#])#

[REG-R#] tags resolve against the cross-product German reference library references/regulatory-and-actuarial-references.md (its own R-numbering, R1–R56, frozen; research provenance in _research/regulatory-actuarial.md). That library is outside this product’s scope and is upgraded on its own pass; the [REG-R#] entries below therefore carry whatever retrieval status that file records, which is not this file’s, and a [REG-R#] tag should be read against the entry it resolves to rather than against the retrievals recorded above. Where a cross-product proposition is also carried by a document retrieved for this product, the entry below says so. Entries cited by the sofortrente documents:

REG-R1 — Directive 2009/138/EC (Solvency II): the best-estimate-plus-risk-margin frame the projected liability_cf feeds.
REG-R2 — Delegated Regulation (EU) 2015/35: contract boundaries and the treatment of future discretionary benefits, which is where a Sofortrente’s Überschussrente would sit in a valuation.
REG-R3 — Directive (EU) 2025/2, the Solvency II review: context for the framework these cash flows will be measured under.
REG-R4 — EIOPA risk-free term structures, the UFR and the Volatilitätsanpassung: the curve a valuation layer discounts on, and the reason pitfall 16 insists the tariff Rechnungszins is not that curve.
REG-R5 — VAG 2016 and its Anlage 1 Sparten: the statutory classification of the contract.
REG-R6 — VAG §§ 74–110: valuation, best estimate and risk margin, cited in the valuation pointers.
REG-R7 — VAG §§ 124–125, Anlagegrundsätze and Sicherungsvermögen: the annuity fund is general-account capital, not an Anlagestock.
REG-R8 — VAG § 138, Prämienkalkulation and equal treatment: the supervisory frame around the tariff.
REG-R9 — VAG § 139, Überschussbeteiligung and the Sicherungsbedarf test on Bewertungsreserven: why the Bewertungsreserven share is referenced and not modelled.
REG-R10 — VAG §§ 140 and 145, the Rückstellung für Beitragsrückerstattung: where a declared Überschussrente is paid from.
REG-R11 — VAG §§ 141–143, the Verantwortlicher Aktuar and the 1994 deregulation: who signs the tariff bases off.
REG-R12 — VAG §§ 221–236 and Protektor, the Sicherungsfonds: what stands behind a lifelong promise, referenced in the product’s risk section.
REG-R14 — DeckRV and its § 2, the Höchstrechnungszins: the reserving-rate cap check_tariff_int_rate tests against.
REG-R15 — the Höchstrechnungszins rate history and the regulation setting 1,00 % from 1 January 2025, the first increase since 1994: the source of hoechstrechnungszins_table.csv and of the anchor cell’s tariff_int_rate.
REG-R16 — DeckRV § 4, Höchstzillmersätze: cited for its inapplicability — there is no premium stream to zillmer against.
REG-R17 — DeckRV § 5 Abs. 3, the Referenzzins and the Zinszusatzreserve: the reserve that competes with the Überschussrente for the same RfB, referenced as a driver and never computed.
REG-R18 — MindZV: the statutory minimum share of each result that must reach policyholders, which bounds the discretion behind every std surplus figure — and, for an annuity, the floor under the Risikoüberschuss that longevity experience generates.
REG-R19 — RfBV, the collective part of the RfB: the mechanics behind the declaration.
REG-R20 — LVRG 2014: the reform that reshaped the Bewertungsreserven rule this product’s payout phase participates in.
REG-R22 — VVG 2008, Kapitel 5 and § 171 (halbzwingende Vorschriften): the statute the product’s contract-law facts come from, and the reason § 168 Abs. 3 R1 cannot be contracted around to the policyholder’s disadvantage.
REG-R23 — VVG §§ 8 and 152, the Widerrufsrechte: the withdrawal window, which is not modelled because a Sofortrente has no lapse machinery to absorb it into.
REG-R24 — VVG § 153: the cross-product entry behind the statutory Überschussbeteiligung and the hälftige share of Bewertungsreserven that [S3] evidences continuing into the payout phase.
REG-R25 — VVG §§ 154–155, Modellrechnung and Standmitteilung: the statutory basis of the document class [S15] belongs to, and what makes its absence here a real gap.
REG-R26 — VVG §§ 150, 159–162: consent of the versicherte Person and the Bezugsberechtigung machinery that makes the Rentengarantiezeit and the Hinterbliebenenrente work as contract law. The beneficiary is a pass-through in the model.
REG-R27 — VVG § 163, Prämien- und Leistungsänderung: cited with R4 wherever the documents state that the garantierte Rente is immutable.
REG-R28 — VVG §§ 165–170: the cross-product entry behind R1, R2 and R5 — prämienfreie Versicherung, Kündigung, Rückkaufswert and the Stornoabzug, none of which this product has.
REG-R30 — VVG §§ 19, 37, 38, 157: the Altersangabe correction rule, which matters here because the annuity is priced entirely off an age.
REG-R31 — VVG §§ 6, 7 and the VVG-InfoV: the disclosure regime that generates the Verbraucherinformation class [S2] [S3] [S14] and the Effektivkosten figure that was not established.
REG-R32 — PRIIPs, Regulation (EU) No 1286/2014: the regime behind [S12], and the source of the Renditeminderung form no instance of which was located.
REG-R33 — IDD and § 34d GewO: the distribution regime behind the Produktinformationsblatt class [S11].
REG-R34 — Unisex: CJEU C-236/09 (Test-Achats) and §§ 19, 20, 33 AGG. The single most consequential cross-product entry for this model: it is why mort_rate_tariff reads the blended "U" series and never the model point’s own sex, and why pitfall 10 exists.
REG-R35 — BaFin Merkblatt 01/2023 (VA), Wohlverhaltensaufsicht and angemessener Kundennutzen: cited with R18 for what is addressed to accumulation products and not to payout annuities.
REG-R36 — the BGH line of authority on German life contracts: the interpretive background to the AVB facts, and to the narrowing of § 163 R4.
REG-R37 — GDV Musterbedingungen and German market practice: the cross-product entry behind [S1] and [S9].
REG-R38 — AltEinkG and the Drei-Schichten-Modell: what places this contract in Schicht 3 — no deduction going in, Ertragsanteil coming out.
REG-R41 — EStG § 22 Nr. 1 Satz 3 Buchst. a: the cross-product carrier of the Ertragsanteil rule behind R13, and the entry the documents cite for taxation falling on the annuitant rather than on the insurer’s liability.
REG-R45 — EStG § 20 Abs. 1 Nr. 6, the 12/62 rule: cited with R14 for the boundary a Sofortrente can never cross.
REG-R46 — ErbStG and SGB V §§ 226, 229, 240: the Erbschaftsteuer treatment of a post-death payment and social-contribution treatment of an annuity in payment, both not established for this product (research gap 15).
REG-R47 — Rechnungsgrundlagen erster und zweiter Ordnung, and the DAV as owner of the tables: the entry behind the two-dimensional Sicherheitszuschlag — lighter level and stronger trend — and behind the statement that the DAV tables are not redistributed here.
REG-R49 — DAV 2004 R and DAV 2004 R-Bestand, the generational annuity tables: the cross-product entry behind R10 and R11, and the authority for the generational structure a replacement table must preserve.
REG-R52 — Destatis Sterbetafeln and Generationensterbetafeln, with their reuse licence: the intended base for a user-supplied replacement decrement table, and the comparator for the statement that population mortality overstates deaths in an annuity book.
REG-R53 — the German life market in numbers (GDV, BaFin, Assekurata, Map-Report, Morgen & Morgen, Franke und Bornberg): the cross-product carrier of the market statistics R25 and R22 could not supply.
REG-R54 — HGB §§ 341–341o and RechVersV: the statutory accounts in which the Bewertungsreserven the model excludes are measured.
REG-R55 — IFRS 17 and the Variable Fee Approach: one of the two liability measures these cash flows feed; not computed here.
REG-R56 — DAV Fachgrundsätze and the annual Höchstrechnungszins recommendation: the professional standard this documentation sits under, and the cross-product carrier of R8.

Provenance note#

Extraction details — which fact was read from which document, the section-by-section mechanics, and the nineteen-item gaps-and-caveats register — live in _research/sofortrente.md, which is the citation ground truth for the S# and R# numbering used here. That file is frozen and is not amended; where this pass has contradicted it, the correction is recorded in the entry above and in technical-notes.md, not in the research file. What follows is what the entries above now support, and it is materially different from what the same note said before the documents were opened.

Nineteen of this file’s thirty-two entries now read Retrieved: yes and twelve read no, one being mixed; the retrieved set includes every insurer document in the S section. Of the two entries whose titles name the immediate annuity, both now yield clauses: [S4] is NÜRNBERGER’s AVB for tariff NR3303 in full, and [S2] is Zurich Deutscher Herold’s Verbraucherinformation — though the retrieval showed that entry’s recorded title and vintage to be wrong, and the pack to be a Schicht-2 Direktversicherung wrapper. The GDV publishes an association template for exactly this product ([S1], Stand 21.07.2025) and a matching survivor’s-annuity rider set; the earlier finding that it does not is withdrawn, and research gap 3 closes.

Paragraph numbers, clause headings and sentences of German contractual wording for a Sofortrente now appear throughout this file, quoted from the documents. The load-bearing ones are the no-termination clause at three carriers and in the GDV template; the Rechnungsgrundlagen clauses naming DAV 2004R (Aggregattafel) at 1,00 % [S2] [S3] and NÜRNBERGER Tafel 2013 R at 1 % [S4]; [S5]’s statement that a deferred tariff converts on the carrier’s own Sofortrente bases, naming tariff NR3303; and [S6]’s Kapitalrückgewähr and reducible-Zusatzrente clauses.

Three claims the library made are contradicted by the documents and have been corrected here. [S6] contains neither “DAV 2004 R” nor the “0 percent p.a.” interest rate the library quoted from a search summary; its only tariff rate is 0,90 %, which was the Höchstrechnungszins of its own 01/2017 vintage, so no retrieved document shows a carrier pricing below the cap. The Allianz KomfortDynamik page [S7] carries none of the three propositions attributed to it. And § 168 Abs. 3 VVG does not say what R1 said it says — the Sofortrente’s irrevocability follows from § 168 Abs. 1 and Abs. 2 not engaging at all, and § 169 from its own Abs. 1 gateway; gap 9 closes on REG-R28’s reading.

The quantitative hole is no longer total. [S8] prints a carrier’s own rate scale — tariff S1, 50.000 € single premium, 20-year Rentengarantiezeit, Stand 01.01.2025, 151 € a month at 65 — together with a realised Rentenanpassung of 0,75 % for 2024; [S10] declares a payout-phase Zinsüberschussanteil of 3,35 % less the Rechnungszins for 2026, funded from interest surplus alone; R20 gives market-average Rentenfaktoren of 29,09 € and 25,97 € per 10.000 € for 2021 and 2022; R21 gives five carriers’ laufende Verzinsung for 2026; and [S7] gives a 3.000 € minimum and an 85-year maximum entry age. None of these is used to calibrate the model, whose annuity, charge and surplus tables remain std and are anchored to reproduce the worked example; they are recorded as benchmarks a later build should price against, and the divergence between them and the std scale is stated in technical-notes.md rather than resolved.

What is still not established. No Produktinformationsblatt [S11] and no Basisinformationsblatt [S12] was located for any carrier, so no total annuity including declared surplus and no charge parameter of any kind was read — α, β, Effektivkosten and Renditeminderung remain std with no observed range, and whether a payout-only Sofortrente is within PRIIPs scope is unresolved. No Standmitteilung specimen was found [S15]. DAV 2004 R remains DAV property, established structurally and not numerically R10, its Bestand companion barely at all R11, so the shipped decrement CSV is still a std proxy and the Data docstring still says so. No carrier’s short-deferment variant was located, “Rente flex” having turned out to be a hybrid unit-linked deferred annuity [S14], so gap 17 closes as a negative. And the Hinterbliebenenrente percentages stay [unverified]: the GDV rider template states no level at all [S9].

One retrieved fact contradicts a modelled convention and is deliberately not acted on here. The model pays vorschüssig, first instalment at inception, as a std convention adopted because nothing had been read. Two carriers’ AVB now say otherwise: [S4] — “Die erste Rente wird einen Monat nach dem vereinbarten Versicherungsbeginn gezahlt” — and [S6], which pays the first instalment “ein Jahr, ein halbes Jahr, ein viertel Jahr oder einen Monat nach dem vereinbarten Versicherungsbeginn” according to frequency. The German market convention for a Sofortrente is payment in arrears. Changing it moves the worked example and its golden tests, so it is reported and not made; technical-notes.md carries the finding beside model point 9, which already measures the alternative. The research file’s own estimate of what the timing is worth remains wrong by a factor of twelve — an annual-annuity identity applied to a monthly annuity — and that correction, recorded at 0,34 % from model points 1 and 9, stands.