INSURANCE AND ANNUITY DISCLOSURES

Last updated January 2016.

IMPORTANT: INSURANCE AND ANNUITY PRODUCTS ARE:

• NOT A DEPOSIT
• NOT BANK GUARANTEED
• NOT FDIC/NCUA INSURED
• NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
• MAY LOSE VALUE

DISCLAIMER

Insurance and Annuity products are made available in an environment where consumers and entities can shop and compare in a best efforts attempt to create value through choices. All Insurance and Annuity products are distributed through a licensed insurance agency or insurance agent (visit our Licensing page).

An annuity is a long-term contract designed for retirement purposes, wealth distribution and wealth transference and not suitable for meeting short-term objectives. Variable annuities are not FDIC insured, are long-term contracts designed for retirement purposes, and are subject to investment risk, including the possible loss of principal.

The product and its benefits, features and optional riders may not be available in all states & jurisdictions. Benefits, features and optional riders which are available for an additional fee, may vary, are subject to state regulation and subject to change without notice. Please consult one of our financial professionals for complete details and/or refer to the contract for a complete and detailed explanation of benefits, limitations and restrictions.

SURRENDER CHARGE DISCLOSURE

If you keep an annuity only a few years, contract values may be less than the total contributions due to surrender charges. Charges may apply to amounts taken in excess of the free withdrawal amount available during the surrender charge period. All withdrawals may reduce the benefits, features and optional riders (including death benefits) and will reduce the contract value. Before surrendering or exchanging, check with your current provider to see if it will assess a surrender charge. Also, consider the existing benefits and features you may lose in an exchange/surrender, which may be of particular importance if poor market conditions exist.

MARKET VALUE ADJUSTMENT (MVA)

The MVA is a key design feature that helps optimize the growth potential of the contract over the long term. The presence of an MVA helps protect the insurance company and thus allows for optimized crediting rates. If you withdraw funds in excess of your free surrender amount before the end of your guaranteed period, the amount you requested will be adjusted based on interest rate conditions at that time. This is referred to as a market value adjustment (MVA). If interest rates are lower than when you bought your annuity, the MVA could increase the amount you requested. However, if interest rates are higher, the MVA could decrease the amount you requested. The MVA applies if you take more than the free annual withdrawal amount each year or if you surrender the contract before the end of the guaranteed period. The Treasury Constant Maturity Series reported by the Federal Reserve is typically used by most companies to measure rates.

ANNUITY TAXATION DISCLOSURE

Annuity withdrawals and other distributions of taxable amounts, including death benefit payouts, will be subject to ordinary income tax. For non-qualified contracts, an additional 3.8% federal tax may apply on net investment income. If withdrawals and other distributions are taken prior to age 59½, an additional 10% federal tax may apply. There are no additional tax benefits when an annuity is purchased as an IRA or other tax-qualified plan, since those plans already provide tax-deferred status. Annuities should be purchased as a qualified plan for the value of unique features, benefits and riders other than tax deferral.

INTEREST DISCLOSURE

All interest rates are effective annual yields (EAY); this is the yield that results after interest has compounded for a full year. All guarantee periods may not be available at all times and in all states.

GUARANTEES DISCLOSURE

Insurance product and rider guarantees, including optional benefits and any fixed crediting rates or annuity payout rates, are backed by the financial strength and claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer from which an annuity is purchased, by the insurance agency from which an annuity is purchased or any affiliates of those entities and none makes any representation or guarantees regarding the claims-paying ability of the issuing insurer.

PERFORMANCE DISCLOSURE

Any illustrations of future values used in this website or within a sales presentation are provided only for illustrative purposes. Any such illustration must not be regarded as guaranteed or as estimated future performance unless it is based solely on the minimum guaranteed interest rates and assume no withdrawals taken. Past performance is not a guarantee of future results.

RATINGS DISCLOSURE

Financial strength and claims paying ability is a consideration in choosing a life insurance company. After all, you want the life insurance company you select to be there when it is time to pay benefits. Financial strength and claims paying ability are rated by independent rating agencies such as A.M. Best, Standard & Poor’s, Moody's and Fitch.

PROSPECTUS OFFERING AND DISCLOSURE

Contact your financial advisor or call 800-922-5601 for more information, including product and fund prospectuses that contain complete details on investment objectives, risks, fees, charges, and expenses as well as other information about the investment company, which should be carefully considered. Please read the prospectuses carefully prior to purchasing. The prospectuses contain this and other information on the product and the underlying portfolios.