No... illustrated current costs and used an if statement to determine the return that would have happened year by year. If s&p went down, return was zero minus fees, if s&p went up, return was whatever it was up til the cap of 15, minus fees. Its all based on mnl's illustrated values. I did the same for aviva's iul and it actually loses to the market a lot of the time
I am always interested by these spreadsheets...any chance you could pm it to me?