Variable Universal Life Insurance. Virtus VUL. Choices, Growth Potential, Tax Advantages

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1 Variable Universal Life Insurance Virtus VUL Choices, Growth Potential, Tax Advantages

2 Your Future. Your Vision.

3 You have a vision for your future that s uniquely yours. It represents your choices today and defines your future options. You may want to: plan for a college education for your children plan ahead for retirement protect your family or business if you re not around or plan to transfer your hard-earned assets or wealth to your heirs Designed for the investment savvy, Ohio National s Virtus VUL allows you to build cash value through a broad array of variable portfolios while providing the security of permanent life insurance. It offers flexibility to anticipate future changes in your life all inside a financial product that has unique tax advantages. When you own a Virtus VUL policy, you get a strong foundation of permanent life insurance protection powered by long-term investments in the security markets, as well as: Powerful Choices Growth Potential Tax Advantages

4 Powerful Choices Having choices in life is always good. The freedom and power to choose give you the flexibility to have the lifestyle you want and the ability to adapt to changes and challenges that come along the way. Your life insurance should give you choices, too. With that in mind, Ohio National s Virtus VUL lets you choose: how much life insurance you need, your premium amount, and optional benefits and features to personalize your life insurance protection. Adjustable Death Benefit Once you have selected a death benefit amount sufficient for your current needs, you can, within limits, increase (subject to evidence of insurability) or decrease your life insurance protection without additional fees. This is permanent life insurance protection designed to grow with you. Flexible Premiums There are a variety of demands stretching your income at different times in your life. That s why Ohio National gives you the flexibility to determine, within limits, the premiums you pay and when you pay them. You can change the amount of your premiums even stop premium payments if you ve built up enough cash value to adjust to your changing situation. Personalized Protection Virtus VUL offers optional features and benefits that you can use to personalize the protection you need. From innovative riders that let you purchase additional insurance, protect you in case of disability, accidental death or terminal illness, to the ability to direct charges or protect your death benefit if you take too large a loan you ll find choices that maximize the protection you need. As you mature and your needs and goals evolve, the ability to remain flexible becomes more important. Virtus VUL anticipates life s challenges, using flexibility as a key design feature.

5 Growth Potential Virtus VUL provides the opportunity to build cash value through variable portfolio options, money management tools, and the ability to diversify. After cash value accumulates, you can access your cash value through withdrawals and loans. Variable Portfolio Options One strength of variable universal life insurance is that you decide how to allocate your premium dollars. Ohio National offers you more than 70 different variable portfolios, along with our Fixed Account, managed by some of the best-known names in the investment business. Asset Allocation Portfolios: With so many portfolio options available, it can be difficult to decide where to allocate your premium dollars. To help you, we offer five asset allocation portfolios, managed by Ibbotson Associates. These portfolios range from conservative to aggressive and give you access to professional management designed to fit a specific level of risk and reward expectations. The objective of each portfolio is to provide disciplined, diversified access to a variety of asset classes that is consistent with your risk profile and investment time horizon. Talk to your representative about which one might be right for you. Dollar-Cost Averaging* Dollar-cost averaging (DCA) helps you manage the risk of investing large sums of money all at one time. Through slow and systematic contributions, you allocate money to your selected combination of portfolio choices. You don t have to try to time the ups and downs of the market. Cash Flow Options** Your policy does much more than provide protection for your family. It can be structured to provide future cash flow through withdrawals and loans against the policy often with minimal or no tax consequences. This cash could be used for college funding, vacation or retirement whatever you choose. Subadviser to ALPS Advisers, Inc. Ibbotson ETF Allocation Series Portfolios are distributed by ALPS Distributors, Inc. *Dollar-cost averaging does not guarantee a profit or protect against a loss in a declining market. Dollar-cost averaging involves continuous investing, regardless of fluctuating price levels. **Loans taken out against your policy are not subject to income tax, provided your policy remains in force. Loans, plus interest, will be repaid from death proceeds. Loans and withdrawals will reduce a policy s cash value and death benefit. Serious tax consequences will result if the policy lapses while outstanding loans exist.

6 Tax Advantages The impact of taxes on your ability to accumulate wealth for the future can be significant. Taxes reduce gains and income and generally hinder the ability of your money to work for you. Variable universal life insurance has a wide combination of attractive tax advantages: Tax-deferred growth of cash value. Withdrawals of premium without current income tax. Transfers between variable portfolios without paying current income tax on any gains in the policy s cash value. Diversification and Perspective The phrase Don t put all of your eggs in one basket rings particularly true when talking about money subject to market volatility. Whether your assets are in stocks and bonds, mutual funds, or variable insurance products, it is important to think about diversifying among various asset classes. Through diversification you allocate money to different asset classes, spreading your risk so that the success or failure of one type of investment does not determine the fate of your portfolio. In the hypothetical example to the right, the diversified portfolio has more value at the end of 25 years, even though 20 percent of the principal was lost and 20 percent of the principal had no gain or loss. Policy loans that also are not subject to current income tax. Income tax-free death proceeds. Virtus VUL is a life insurance product and, under current tax law, continues to be treated favorably by the Internal Revenue Code. If you have specific questions about your individual tax situation, please consult your tax adviser. There may be qualifications and exceptions to the tax treatment of policies in specific circumstances. 6.5% Fixed Annual Rate of Return 25-year time horizon 12% 8% 4% 0% -100% $482,770 end value $550,288 end value The example is for illustrative purposes only. It does not represent any particular investment. Assumes no taxation. Diversification does not guarantee a profit or protect against a loss in a declining market. Past performance is no guarantee of future results. The strength of diversification lies in the potential of the portfolio to make money regardless of how one specific asset class performs.

7 Virtus VUL gives you life insurance with power and purpose talk with your registered representative about how you can take advantage of this unique policy today.

8 Issued by: Ohio National Life Assurance Corporation Distributed by: Ohio National Equities, Inc., Member FINRA/SIPC One Financial Way Cincinnati, Ohio Post Office Box 237 Cincinnati, Ohio Telephone: Ohio National Financial Services, Inc. Form 6361 Rev Tracing its corporate origins to 1909, Ohio National markets a variety of insurance and financial products in 47 states (all except Alaska, Hawaii and New York), the District of Columbia and Puerto Rico, with subsidiary operations in Santiago, Chile. We are committed to building long-term relationships with our customers and to providing them with solutions as their needs change over time. Variable life insurance is sold by prospectuses, which contain more complete information, including investment objectives, risk factors, fees, surrender charges and other costs that may apply. Contact your registered representative or visit fundinfo.ohionational.com to obtain current prospectuses. Please read the product and fund prospectuses carefully before you invest or send money. Investors should consider the investment objectives, strategies, risk factors, charges and expenses of the underlying variable portfolios carefully before investing. The fund prospectus contains this and other information about the underlying variable portfolios. Both the return and the principal value of the underlying portfolios will fluctuate, and the portfolios may be worth more or less than their original values when redeemed. If the performance of the portfolio options is less than anticipated, the death benefit may be reduced, the policy may lapse and/or the policyholder may be required to pay premium above the planned premium to keep the policy in force. If tax-free loans are taken and the policy lapses, a taxable event may occur. Loans and withdrawals from life insurance policies that are classified as modified endowment contracts may be subject to tax at the time that the loan or withdrawal is made and, if taken prior to age 59½, a 10 percent federal tax penalty may apply. Withdrawals and loans reduce the death benefit and cash surrender value. Past performance is no guarantee of future results. Guarantees are based upon the claims-paying ability of the issuer. Guarantees do not refer to the performance of underlying variable portfolios. Product, product features and rider availability vary by state. NOT A DEPOSIT NOT FDIC INSURED NOT GUARANTEED BY ANY BANK NOT INSURED BY ANY GOVERNMENT AGENCY MAY LOSE VALUE