Protect. Grow. Prepare.

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1 SM ALLSTATE FUTUREVEST VUL Variable Universal Life Insurance Protect. Grow. Prepare. This brochure must be accompanied by a current Allstate FutureVest VUL prospectus, which contains more detail on the product and fund portfolios, including information on charges and expenses.

2 What is variable universal life insurance? Protect and build. Explore an all-in-one, easy-to-manage solution. If you re like most people, you want to protect your loved ones in case you are no longer here. But maybe you also have big plans for the future, whether it s starting your own business or retiring to a sunnier place. Like all life insurance policies, Allstate FutureVest VUL SM provides your beneficiary with a death benefit after you die. But FutureVest also has a component known as cash value that you can invest across a range of subaccounts. Your cash value will grow or decline depending on the performance of your subaccounts. Choose policy features that might be right for you. We all know life changes, and your needs will change with it. FutureVest gives you the flexibility to adapt your policy and cash value allocation so they continue to meet your protection and investment management goals. Your personal financial representative can help make sure you understand your options and how you might change them in the future. Variable universal life (VUL) insurance is a type of permanent life insurance policy that offers death benefit coverage with the potential to accumulate cash value. A portion of your premium payments is invested in your choice of a variety of options known as subaccounts. Over time, your cash value has the potential to grow depending on the performance of the subaccounts you choose. But like most investments, there is also potential for losing cash value. Who might Allstate FutureVest VUL be right for? Families who want life insurance to protect their loved ones but also want flexibility to invest and use their policy s cash value for retirement or other life needs. 1 Investment-savvy individuals who are aggressive in terms of risk tolerance and want full market participation, but understand the risk and potential for losing cash value. Business owners and entrepreneurs who want to protect assets, provide potential for growth and offer security in case of loss of a person who is key to their business. Parents or grandparents who want to purchase a life policy for a child for future insurability and for potential income growth for the child s future needs, such as college. 1 Our Story MARK AND SUE J. Our Gracie is nearly two years old. We just bought a home and we both work full-time. If something happened to either of us, the loss of income would make a really difficult time even worse. We knew we needed life insurance to protect us from that. We also like knowing that if we need extra money later for Gracie s college or our retirement, we can borrow or withdraw from our policy.

3 Pursue cash value growth with SM Allstate FutureVest VUL. You ve worked hard for your money and you want to make the most of it to help create the life you want down the road. FutureVest makes it easy for you to participate in financial markets by allowing you to choose the subaccounts in which to invest your cash value. You ll benefit fully in market gains (as well as losses, don t forget). Plus, any earnings you achieve will grow on a tax-deferred basis, which helps your cash value build more rapidly. Your Allstate personal financial representative will review your needs based on these questions and help you decide what s right for you: What do you hope to achieve financially? What is your time horizon? How much financial risk are you willing to take in exchange for potential growth? Choose a preselected asset allocation fund. Researching which funds to invest in can take a lot of time. FutureVest takes some of the guesswork out of choosing your cash value subaccounts by giving you the option to choose between five Morningstar asset allocation funds. By choosing one of these funds, you can allocate your investment based on your level of risk tolerance and growth needs. Or build your own portfolio of subaccounts. If you want more control over how your policy s cash value is invested, FutureVest gives you choice of 29 subaccount options, all managed by professional fund managers at companies you know. Life changes. Be prepared with flexibility and protection. FutureVest is designed to provide coverage for your entire life. But life changes, so it s good to know you have a lot of flexibility to help you better prepare for the future. Access policy funds. Imagine your child is going off to college. Maybe you want to make a mid-life career change. Or you re retiring and moving closer to your family. Whatever your dreams are, you can withdraw or take loans from your policy s cash value to help pay for the cost. 1 Loans are generally not taxable, but there are exceptions. Both loans, if not repaid, and withdrawals may reduce the policy s death benefit or cash value. 1 Talk to your Allstate personal financial representative for more information. Protection for your policy. The cash value of your policy depends on the market performance of your subaccounts. To make sure that potential market drops and cash value declines don t put your life insurance at risk, every FutureVest policy comes with a Safety Net Premium Guarantee. This feature ensures that your policy will not lapse no matter how your subaccounts perform, as long as you continue to make required premium payments on time for a set number of years. The number of years varies depending on your age when you bought the policy, as shown below: Issue Ages 0 60: 20 years Issue Ages 61 75: To age 80 Issue Ages 76+: 5 years Our Story LAURA J. AND LISA P. 4 1 Partial withdrawals and surrenders are generally taxed as ordinary income to the extent the withdrawal exceeds the investment in the contract, which is also called the basis. In some situations, partial withdrawals during the first 15 policy years may result in taxable income prior to recovery of the basis in the contract. Loans are generally not taxable if taken from a life insurance policy that is not a modified endowment contract (MEC). However, when cash values are used to repay a loan, the transaction is treated like a withdrawal and taxed accordingly. Unpaid interest on loans is added to the loan principal, thereby increasing the total debt on the policy. The combination of an increasing loan balance and deductions for contract charges and fees may cause the policy to lapse, triggering ordinary income tax on the outstanding loan balance to the extent it exceeds the cost basis in the policy. Loans, if not repaid, and withdrawals reduce the policy s death benefit and cash value. We re partners in a pastry business that s doing pretty well. We each bought a FutureVest life insurance policy naming the other as beneficiary so that if something happens to one of us, the other would have enough money to carry on. But there s also flexibility in case 20 years from now, we need the cash value.

4 My Story Tailor your life insurance policies with riders. JAMIE B. After my divorce, it was important that I have life insurance in case something happened and I wasn t around to help financially support the kids. I liked the flexibility of FutureVest. For example, when I bought the policy, with the Guaranteed Insurability Rider, I chose a $100,000 death benefit. Three years later, I got a big promotion and salary increase. So my agent showed me how I could bump up the policy s face value without worrying about having to pass another medical exam. Another way Allstate FutureVest VULSM gives you flexibility is with riders that offer additional protection for you and your family.2 Your Allstate personal financial representative can advise you on how these riders might benefit you and whether there are additional costs to include them with your policy. Living Benefits Continuation of Payment Rider If you become chronically ill or are diagnosed with a terminal illness with a life expectancy of 12 months or less, FutureVest may allow you to access a portion of your death benefit early for any purpose, such as helping to pay for medical expenses or fulfill a bucket list dream like a family vacation.3,4,5 If you become disabled, we cover your premium up to two times your annual payments or $10,000, whichever is less. Accidental Death Benefit Rider If you are in an accident that results in your death, this rider pays an additional benefit amount to your beneficiary. Children s Term Insurance Rider If you want to have life insurance coverage for your children under age 18, this rider allows you to add it as part of your FutureVest policy. Guaranteed Insurability Rider If you want to easily increase your protection, you can do so on certain dates or after specific events without undergoing additional underwriting. Overloan Protection Rider If your cash value drops due to an outstanding loan or adverse market conditions, this rider may keep your policy from lapsing. You pay only if you use this feature. hese benefits assume that you the policyholder are also the insured. In some cases, the policyholder and the insured may not be the same T person. Please see riders for terms, conditions and restrictions. Additional costs may apply. Subject to state-specific terms and availability. 2 3 disclosure form must be completed prior to receiving benefits under this rider. An administrative expense may be charged if the benefit is A used. Receipt of accelerated benefits may be taxable. Tax laws relating to accelerated benefits are complex. Please consult a tax advisor. he amount paid by the rider will be reduced by benefit discounts resulting from early payment of uncollected insurance charges. Please T see the rider for maximum payment amounts ccelerated Death Benefit may or may not qualify for favorable tax treatment under the Internal Revenue Code of This depends A on factors such as the customer s life expectancy at the time benefits are accelerated or whether the customer uses the benefits to pay for required qualified long-term care expenses. If the Accelerated Death Benefit qualifies, the Benefit will not be subject to federal income taxation. In addition, receipt of the Accelerated Death Benefit may affect the customer or his family s eligibility for public assistance programs such as medical assistance (Medicaid), Aid to Families with Dependent Children (AFDC) and Supplemental Security Income. 7

5 Provide security for your loved ones. Allstate FutureVest VUL SM can offer lifelong security for your family with an incometax-free death benefit that they can use to pay the mortgage and other cost-of-living expenses. When you purchase your policy, you choose a death benefit amount, also known as face value, that you want your beneficiary to receive. You also have two death benefit options. OPTION 1 The death benefit is the face value of the policy. It stays the same over time. Our Story SUSAN AND DEVON C. We don t have kids but we have each other. If I die suddenly, I d want to make sure Devon could pay off the mortgage and move on with life. And vice versa if something happened to him. What made FutureVest interesting was that it helps us do that. But if life went on as planned and the mortgage was paid, well, we could use the cash value for something else. The possibility of getting a return on our money in a simple, straightforward way was a huge selling point for us. OPTION 2 The death benefit increases to the face value plus the accumulated cash value. With Death Benefit Option 2, the potential for cash value growth increases the death benefit available to provide for changing needs. All without requiring underwriting approval. Stay up to date. FutureVest is designed to be a straightforward product that s flexible, easy to buy and easy to maintain. But it s also a good idea to review your quarterly statements and periodically meet with your Allstate personal financial representative to determine if your subaccount allocation is keeping you on target to help meet your goals. 8 9

6 Understand the important details. Surrender charges. Surrender charges are charges we apply if you want to end or surrender your policy. Surrender charges only apply during the first 10 policy years and for 10 years from the effective date of any face amount increase. Charges range from $0 to $49 per $1,000 of face amount (based on the insured s age at issue, sex and smoking status) and decrease over the life of the policy. In other words, surrender charges will be higher in the early years you own your policy and gradually decrease to $0 after 10 years. Tax information that may impact your policy. You should always consult with your tax advisor when making decisions regarding your policy. The Internal Revenue Code includes certain rules governing the taxation of life insurance. The death benefit of a life insurance policy is generally received by the beneficiaries free from income tax. However, the death benefit of life insurance policies that have been transferred for value may be subject to ordinary income taxes. Estate taxes may apply. Consult your tax advisor for additional information. Partial withdrawals and surrenders are generally taxed as ordinary income to the extent the withdrawal exceeds the investment in the contract, which is also called the basis. In some situations, partial withdrawals during the first 15 policy years may result in taxable income prior to recovery of the basis in the contract. Loans are generally not taxable if taken from a life insurance policy that is not a modified endowment contract (MEC). However, when cash values are used to repay a loan, the transaction is treated like a withdrawal and taxed accordingly. Unpaid interest on loans is added to the loan principal, thereby increasing the total debt on the policy. The combination of an increasing loan balance and deductions for contract charges and fees may cause the policy to lapse, triggering ordinary income tax on the outstanding loan balance to the extent it exceeds the cost basis in the policy. Loans, if not repaid, and withdrawals reduce the policy s death-benefit and cash-surrender value. MEC tax facts. A modified endowment contract (MEC) is a type of life insurance policy for which the premiums paid into the policy have exceeded certain limitations set forth in the Internal Revenue Code. If a policy is an MEC, loans and withdrawals are subject to different income tax rules. If a policy is an MEC, loans are treated as a taxable distribution to the extent of policy gain. What s your story? With Allstate FutureVest VUL ȘM you get security for your loved ones and the potential for financial growth through cash value investment all in one policy. Contact your Allstate personal financial representative with questions or next steps to make FutureVest work for your life. Loans, withdrawals and surrenders from MECs are treated first as distributions of the policy gain subject to ordinary income taxation and may be subject to an additional 10% federal tax penalty if made prior to the age 59½. 10

7 We re here for you. Your Allstate Agency is always here for you when something goes wrong. We re also here to help things go right with innovative solutions and professional assistance to help you protect your family and achieve your lifelong dreams. To learn more, call or visit your Allstate Agency today. All guarantees are based on the claims-paying ability of the issuing insurance company. Variable universal life insurance policies carry annual insurance company mortality and expense risk charges, withdrawal charges in the early years, and administrative fees. Individual features may be offered at an additional cost. The value of a variable universal life insurance policy will fluctuate with the investment performance of the underlying subaccounts and may be worth more or less than the original investment. Management fees and/or other expenses also apply on an ongoing basis for each subaccount portfolio available under the policy. Please see the prospectus for more details concerning any applicable fees and each subaccount portfolio s expense. Allstate FutureVest VUL SM is a flexible premium variable adjustable life insurance policy issued by Allstate Assurance Company, 3075 Sanders Rd, Northbrook, IL and is available in most states with contract/series ICC16AC3/AC16-2 and may be accompanied with riders ICC14AC16/AC14-17; ICC14AC15/ AC14-15; ICC14AC23/ AC14-16; ICC14AC17/ AC14-18; ICC14AC18/ AC14-10; ICC14AC19/ AC14-8; and ICC14AC20/ AC14-9. Policy issuance is subject to availability and qualifications. This policy has exclusions, limitations, and terms that may affect coverage, renewal, cancellation, termination, or other contractual rights and benefits. Variable universal life products are long-term investments designed to provide life insurance protection and flexibility in connection with premium payments and death benefits. You should carefully consider the investment objectives, risks, charges, and expenses of the investment alternatives before purchasing a policy. These policies have limitations and are sold by prospectus only. The prospectus contains details on the investment alternatives, policy features, the underlying portfolios, fees, charges, expenses, and other pertinent information. To obtain a prospectus or a copy of the underlying portfolio prospectuses, please contact Allstate Assurance Company. Please read the prospectuses carefully before purchasing a contract. Please note that neither Allstate nor its agents and representatives can give legal or tax advice. The brief discussion of taxes in this brochure may not be complete or current. The laws and regulations are complex and subject to change. Consult your attorney or tax advisor for complete details. This information is provided for general consumer educational purposes and is not intended to provide legal, tax or investment advice. Allstate Assurance Company issues fixed and variable insurance products that are sold through agreements with affiliated or unaffiliated broker-dealers or agencies. Securities offered by Personal Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA). Registered Broker-Dealer. Member FINRA, SIPC. Main Office: 2920 South 84th Street, Lincoln, NE (877) Check the background of this firm on FINRA s BrokerCheck website ALR Allstate Insurance Company allstate.com 5/17