Equity Index LifeFund
A Flexible Premium Adjustable Life Insurance

Policy Features
The Equity Index LifeFund Life Insurance Policy is a universal life insurance contract that provides a guaranteed death benefit and builds tax-deferred cash accumulation at competitive current rates. A Preferred Settlement Value provides lifetime retirement income. A post-retirement disability benefit can increase your lifetime income by as much as 60%. The Equity Index LifeFund allows you to choose to allocate your funds to an interest bearing account, the S&P 500, or the Nasdaq-100. Your Accumulation Value will increase based on the performance of these accounts.

The unique Accelerated Benefit Rider provides a percentage of the LifeFund in the event of the insured's critical illness, chronic illness, or disability, or the death of the insured's spouse or child. Electing Accelerated Benefit Rider Payments will pay a portion of the Specified Amount and proportionately reduce the future Specified Amount, accumulation value, Preferred Settlement Value, and planned premium of the policy.  

Policy Values
While providing life insurance protection, your policy builds tax-deferred accumulation values which will be available for loans, cash surrender and retirement income. In the event of cash surrender during the first 14 policy years, the accumulation values are reduced by a decreasing surrender charge.

Non-guaranteed values are illustrated at the currently declared interest rate of 5.25% for the Interest Earning Value. Based on historical information from 1981 - 2001, a rate of 6.64% is used for the S&P 500 and based on historical information from 1983 - 2001 a rate of 8.11% is used for the Nasdaq-100. Your non-guaranteed values are based on your Allocation Percentages. The rate for the Interest Earning Value may be changed at any time by the Company without prior notice to you. The historical information used for the S&P 500 and Nasdaq-100 are not a guarantee of future returns.

Guaranteed accumulation values are illustrated at, and will never be less than, 3.00%.  

Accelerated Benefit Rider
This policy includes a non-severable Accelerated Benefit Rider. The cost of this rider is deducted from the accumulated policy values. If you elect an Accelerated Benefit payment when it becomes available, the amount will depend on the specific percentage of the LifeFund for the covered condition. Any Accelerated Benefit payments elected will reduce the death benefit payable to your beneficiary, as well as the accumulation value, net cash value, Preferred Settlement Value and planned premium of the policy. 

• Critical Illness Benefit can pay you a lump sum cash amount of up to 50% of the LifeFund, in the event of insured's cancer, stroke, paralysis, blindness, renal failure, organ transplant or diagnosis of ALS, as defined in the contract. The percentage payable for hearing loss and major heart attack is up to 25%, and up to 10% if the heart attack is minor. 
• Chronic Illness Benefit can pay you a monthly benefit based on the insured's inability to perform 2 of 6 Activities of Daily Living (ADLs). This can be up to 10% of the LifeFund each year. See waiting period and details in the policy. 
• Disability Benefit can pay you 1% each month of the LifeFund amount, if the insured is disabled before age 65 and is collecting Social Security disability benefits. 
• Spouse and Children In the event of death of the insured's spouse, the Equity Index LifeFund can pay you up to 25% of the LifeFund (not to exceed $50,000). In the event of the death of a child of the insured, the Equity Index LifeFund can pay you up to 10% of the LifeFund (not to exceed $10,000).
• Waiver of Planned Premiums If you are collecting benefit payments for Chronic Illness or Disability Income or have received a payment for a Critical Illness benefit of 50% or more of the LifeFund, the Company will pay the lesser of the planned premium or the average premium paid over the last 3 years to the earlier of age 65 or recovery from the Chronic Illness or Disability.  

• Index Benefit Credits are credited on an annual basis to your policy. The amount of the credit is calculated by multiplying the daily average of the Index Credit Value by the Index Rate. The Index Benefit Credit will never be less than zero. 
• Interest Earning Credit is the interest earned in the Interest Earning Value during a Term, guaranteed at a minimum annual rate of 3.00%. 
• Index Increase Amount for each Index is equal to the greater of zero or the average of the Monthly Index Values during a Term minus the Initial Index Value. 
• Index Rate The Index Rate is a measure of the growth of the S&P 500 and Nasdaq-100 for each Term. The Index Rate is the lesser of the Cap, or the Participation Rate times the Index Increase Amount divided by the Initial Index Value.  

This is a brief product description only, not an offer, contract, or promise of future policy performance. Product description subject to change without notice. Coverage is subject to the terms and conditions of the policy. Contact Nick Androlewicz at 442-9206 or nickatoz@independentsales.com for complete and current information on the product.