Life Insurance Illustration FG Life-Elite Flexible Premium Life Insurance Illustration with Indexed Interest Option. Prepared for.

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1 Two Ruan Center 601 Locust Street, 14th Floor Life Insurance Illustration Prepared for Filiberto Coto Prepared by Aspen Financial 3010 Lava Ridge Ct. Suite 200 Roseville, CA Business: (916) Agent: Aspen Financial Page: 1 of B(107)G07

2 Narrative Summary Basic Life Insurance Illustration THIS IS AN ILLUSTRATION ONLY. AN ILLUSTRATION IS NOT INTENDED TO PREDICT ACTUAL PERFORMANCE. INTEREST RATES, DIVIDENDS, OR VALUES THAT ARE SET FORTH IN THE ILLUSTRATION ARE NOT GUARANTEED, EXCEPT FOR THOSE ITEMS CLEARLY LABELED AS GUARANTEED. This illustration is provided to help you understand the life insurance policy. This illustration is based on information that you provided and on certain assumptions, some of which are not guaranteed. This illustration assumes that the currently illustrated non-guaranteed elements will continue unchanged for all years shown. This is not likely to occur, and actual results may be more or less favorable than those shown. The is a Flexible Premium Adjustable Life Insurance policy. This Individual Life Insurance policy will provide a death benefit if the insured dies while the policy is in force. The actual amount payable in the event of death will be decreased by any indebtedness to the company. Premium payments are flexible and the owner may change the amount and frequency of premium payments. This illustration, or any other illustration, is not considered a proper written request for policy changes, termination of benefits or election of options to purchase additional insurance. Premium Outlay The premium outlay is the amount of premium which is planned to be paid during the lifetime of this policy. The first year premium outlay is $2, An annual premium of $2, is the maximum premium allowed by the Internal Revenue Code. The amount, timing and frequency of premium payments may be varied, subject to maximum guideline premiums, as determined by the Internal Revenue Code and Regulations. This illustration assumes that all payments are made as planned. The amount, timing and frequency of premium payments will affect the account value and length of coverage. Minimum Monthly Premium Death Benefit Face Amount Your initial minimum monthly premium is $ The minimum monthly premium may change depending on changes to your policy or riders. If the sum of the premium, less loans and withdrawals, equals or exceeds the sum of all minimum monthly premiums beginning with the policy date, your policy will not enter the grace period for the duration shown. If you pay the minimum monthly premium, the guarantee period is to age 38. This life insurance policy initially provides a death benefit as described in the policy. The initial death benefit provided is assumed to be $322,572. The actual amount payable at death may be decreased by policy withdrawals or outstanding loans, or increased by additional insurance benefits purchased. In addition, you may change death benefit options at any time after the first policy year. The initial face amount is the amount on which the death benefit is determined. The owner may increase the face amount after the first policy anniversary. An increase requires proof of insurability and must be requested prior to the insured's age 76. Face amount decreases are allowed after the third policy anniversary. Death Benefit Option A The death benefit is the greater of the Face Amount or the account value multiplied by the Option death benefit ratio. Option B The death benefit is the greater of the Face Amount plus the account value or the account value multiplied by the death benefit ratio. Agent: Aspen Financial Page: 2 of B(107)G07

3 Narrative Summary Monthly Deduction Each monthly deduction consists of the monthly cost of insurance, the expense charges, any premium for additional benefits provided by riders and any charges for substandard premium class rating. Account Value This is the amount of value, in this insurance policy, before the deduction of Surrender Charges, if applicable. Account Value is shown on a Guaranteed Basis and on a Current Basis. Surrender Value Interest The amount available to the owner upon surrender of the policy, or on the maturity date, provided the insured is living. The Surrender Value will be affected by loans or partial surrenders. The interest rate credited to your account value can be changed by the Company but not below the guaranteed rate of 0.25%. The current illustrated interest rate is 7.70%. A Prospective Annual Interest Bonus credits an additional 0.25% to account value after 10 years; guaranteed as long as current declared credited rates exceed guaranteed minimum. The bonus is credited to the declared rate and and indexed account value. We reserve the right not to pay this bonus. Partial The owner may make partial withdrawals after the first policy year up to the available withdrawal amount. Withdrawals There is a $25 withdrawal fee for each withdrawal. The minimum withdrawal amount is $500. Policy Loans (Variable) Under the variable loan option, the owner may borrow any amount up to the available surrender value. The variable loan option allows the amount of the account valued borrowed to continue to be eligible for interest and/or index credits in the same manner as though a loan had not been taken. The amount borrowed will be charged a loan interest rate tied to the Moody's Corporate Bond Yield Average - Monthly Average Corporates as published by Moody's Investors Services, Inc. The maximum rate of interest charged on a variable loan will be 5.00%, payable in arrears. For the purposes of this illustration, the variable loan interest rate (interest) assumed is 5.00%. Actual interest charged on borrowed amounts will depend on market conditions at the time the loan is taken and remains outstanding. This illustration assumes that the loan interest is being added to the outstanding loan balance. Policy Loans The owner may borrow any amount up to the available surrender value. The maximum loan interest rate is 4.00%, (Fixed) payable in arrears. The loaned portion of the account value will continue to grow at the loan collateral interest rate of 2.00%. Account value segments securing any loans from this loan option are not eligible for interest and/or index interest credits other than the loan collateral interest rate. Rider Description(s) Riders provide additional benefits and may increase the monthly deduction. Additional deductions will decrease the account value unless higher premiums are paid. Periodically, you should review any riders to see if they continue to meet your needs. The following riders are included in this illustration. Over Loan Protection Rider CIR Over Loan Protection Rider (not available in all states): This rider can prevent your life insurance contract from entering a lapse status as the result of outstanding loans that exceed your surrender value. There is no cost of insurance charge for this rider. However, certain conditions must be met before the rider can be exercised, and there is a one-time administrative fee when the rider is exercised. This rider may be exercised one time during the lifetime of the life insurance contract to which it is attached. Accelerated Benefit for Critical Illness: This rider gives the policy owner access to up to 100% of the CIR death benefit if the insured suffers a critical condition as outlined in the rider. The maximum death benefit that may Agent: Aspen Financial Page: 3 of B(107)G07

4 Narrative Summary be accelerated on the policy to which this rider is attached is the lesser of $1,000,000 or the Policy's death benefit. The benefit for this rider will be based upon the insured's age and the severity of the illness. There is no cost of insurance charge for this rider. The death benefit and cost of insurance charges for the policy are reduced if you exercise this rider's benefit. The accelerated benefit rider terminates when the policy terminates, the benefit is paid or the owner request to have the rider cancelled. ABR Accelerated Benefit for Terminal Illness: This rider gives the policy owner access to up to 100% of the ABR death benefit if the insured is diagnosed with a terminal illness or condition and a doctor certifies that the insured is expected to live less than twenty-four months. The maximum death benefit that may be accelerated on the policy to which this rider is attached is the lesser of $1,000,000 or the Policy's death benefit. There is no cost of insurance charge for this rider. The death benefit and cost of insurance charges for the policy are reduced if you exercise this rider's benefit. There is a one-time administrative fee when the rider is exercised. The accelerated benefit rider terminates when the policy terminates, the benefit is paid or the owner request to have the rider cancelled. Definitions of Key Terms and Column Headings "Age" means the issue age plus the number of years the policy is assumed to have been in force. This is the age at the end of the policy year. "CAP" This rate is the maximum percentage increase that may be credited to the index account value segment. "Class" means the risk class of the proposed insured used in preparing this illustration. The actual class will be determined when the application is underwritten and may vary from the illustrated class. If so, a revised illustration will be delivered with the policy. "Cost of Insurance" means the amount the Company charges for providing life insurance coverage under the base policy. The cost of insurance rates may be changed by the Company, subject to the guaranteed cost of insurance rates as stated in your policy. Any change in the cost of insurance rates will be on a uniform basis for insureds of the same class. "Current Assumptions" illustrate the values that would result assuming current interest rates, current expense charges and current cost of insurance rates. These assumptions are not guaranteed. "Expense Charge" means an expense charge that will be deducted from the account value each month. "Guaranteed Assumptions" illustrate the values that would result assuming guaranteed interest rates, guaranteed expense charges and guaranteed cost of insurance rates. "Guaranteed Elements" are the benefits, values, credits and charges that are guaranteed at issue. "Midpoint Assumptions" illustrate the values that would result assuming interest rates, expense charges and cost of insurance rates that are the average of the current and guaranteed rates. These assumptions are not guaranteed. "Non-Guaranteed Assumptions" illustrate the values that would be generated using current, specified or midpoint assumptions. These assumptions are not guaranteed. "Non-Guaranteed Elements" means the premiums, benefits, values, credits or charges under the illustrated policy that are not guaranteed or cannot be determined at issue. Non-Guaranteed Cost of Insurance rates, Expense Charges, Premium Expense Charges and current interest rates are subject to change by the Company. Actual results may be more or less favorable. "PAR" is the Participation rate which is the maximum percentage of the annual increase in the index that will be credited. Agent: Aspen Financial Page: 4 of B(107)G07

5 Narrative Summary "Premium Expense Charge" is a percentage of each premium payment that is deducted from the account value. "Stop Year" is the last full year the coverage is effective under current assumptions. Agent: Aspen Financial Page: 5 of B(107)G07

6 Numeric Summary Guaranteed Non-Guaranteed Assumptions Assumptions Fixed Midpoint Current Premium Surrender Death Surrender Death Surrender Death Surrender Death Year Outlay Value Benefit Value Benefit Value Benefit Value Benefit 5 2,400 5, ,572 5, ,572 5, ,572 6, , ,400 12, ,572 15, ,572 15, ,572 18, , ,400 26, ,572 49, ,572 42, ,572 68, ,572 Age , ,441 Coverage To Year: Based on guaranteed assumptions, the illustration terminates in year 38. Based on fixed assumptions, the illustration terminates in year 43. Based on midpoint assumptions, the illustration terminates in year 41. The Guaranteed column shows values and benefits provided assuming guaranteed interest of 0.25% and the maximum guaranteed cost of insurance rates and expense charges. The Fixed columns show values assuming an interest rate of 4.50%, and that current charges will remain in effect throughout the life of the policy. The Midpoint columns show values assuming an interest rate of 3.98%, which is midway between the guaranteed and current rate, and uses an average of the current and guaranteed charges. The Current columns show values and benefits assuming current interest of 7.70%, and that current charges will remain in effect throughout the life of the policy. For the purpose of this illustration, the amount of the account value borrowed will grow at an assumed credited rate of 4.50% on the alternative scale, 0.25% on the guaranteed basis and 6.00% on the non-guaranteed basis. These may differ from the company's actual credited rates on account value borrowed. This illustration assumes that the currently illustrated non-guaranteed elements will continue unchanged for all years shown. This is not likely to occur, and actual results may be more or less favorable than those shown. I have read the summary and understand: (1) the description of the, a fixed indexed universal life insurance product; (2) that I am applying for a fixed indexed life insurance product whose values may be affected by an external index, but does not participate in any stock, bond, or equity investments; (3) that neither Fidelity & Guaranty Life Insurance Company nor my agent has made any guarantees or promises regarding future index values, index changes, index credits, or interest rate for this insurance product. I have received a copy of this illustration, and understand that any non-guaranteed elements illustrated are subject to change and could be higher or lower. The agent has told me that they are not guaranteed. Applicant Date I certify that this illustration has been presented to the applicant and that I have explained that any non-guaranteed elements illustrated are subject to change. I have made no statements that are inconsistent with the illustration. Authorized Company Representative Date Agent: Aspen Financial Page: 6 of B(107)G07

7 Tabular Detail Guaranteed Non-Guaranteed Non-Guaranteed Assumptions Assumptions - Fixed Assumptions - Current 0.25% EOY Interest 4.50% EOY Interest 7.70% EOY Planned With- Net Net Net Premium drawals/ Account Surrender Death Account Surrender Death Account Surrender Death Age Year Outlay Loans Value Value Benefit Value Value Benefit Value Value Benefit , , ,572 1, ,572 1, , , ,674 1, ,572 2,734 1, ,572 2,777 1, , , ,006 2, ,572 4,191 2, ,572 4,325 2, , , ,330 3, ,572 5,714 4, ,572 5,993 4, , , ,652 5, ,572 7,304 5, ,572 7,788 6, , , ,985 6, ,572 8,963 7, ,572 9,720 8, , , ,327 8, ,572 10,696 9, ,572 11,799 10, , , ,675 9, ,572 12,508 11, ,572 14,041 12, , , ,032 11, ,572 14,407 13, ,572 16,461 15, , , ,389 12, ,572 16,390 15, ,572 19,067 18, ,572 24, , ,744 13, ,572 19,045 18, ,572 22,466 21, , , ,096 15, ,572 21,823 21, ,572 26,134 25, , , ,438 16, ,572 24,734 24, ,572 30,095 29, , , ,770 18, ,572 27,783 27, ,572 34,375 34, , , ,085 19, ,572 30,978 30, ,572 38,997 38, , , ,378 21, ,572 34,325 34, ,572 43,990 43, , , ,651 22, ,572 37,832 37, ,572 49,385 49, , , ,896 23, ,572 41,506 41, ,572 55,214 55, , , ,107 25, ,572 45,347 45, ,572 61,503 61, , , ,276 26, ,572 49,344 49, ,572 68,270 68, ,572 48, , ,394 27, ,572 53,506 53, ,572 75,560 75, , , ,455 28, ,572 57,831 57, ,572 83,405 83, , , ,454 29, ,572 62,326 62, ,572 91,849 91, , , ,391 30, ,572 67,002 67, , , , , , ,277 31, ,572 71,868 71, , , , , , ,123 32, ,572 76,958 76, , , , , , ,919 32, ,572 82,279 82, , , , , , ,647 33, ,572 87,835 87, , , , , , ,286 34, ,572 93,627 93, , , , , , ,818 34, ,572 99,655 99, , , , ,572 72, , ,223 35, , , , , , , , , ,467 35, , , , , , , , , ,528 35, , , , , , , , , ,399 35, , , , , , , , * 0 32,836 32, , , , , , , , * 0 30,059 30, , , , , , , , * 0 27,033 27, , , , , , , , * 26, , , , , , , * 26, ,948 95, , , , , * 26, ,694 70, , , , ,597 81,600 80,157 Withdrawal /Loan is based on Non-guaranteed Current Assumptions. Agent: Aspen Financial Page: 7 of B(107)G07

8 Tabular Detail Guaranteed Non-Guaranteed Non-Guaranteed Assumptions Assumptions - Fixed Assumptions - Current 0.25% EOY Interest 4.50% EOY Interest 7.70% EOY Planned With- Net Net Net Premium drawals/ Account Surrender Death Account Surrender Death Account Surrender Death Age Year Outlay Loans Value Value Benefit Value Value Benefit Value Value Benefit * 26, ,576 43, , , , , * 26, ,621 15, , , , , * 26, , , , * 26, , , , * 26, , , , * 26, , , , * 26, , , , * 26, , , , * 26, , , , * 26, , , ,921 81, , * 26, , , , * 26, , , , * 26, , , , * 26, , , , * 26, , , , * 26, ,039, , , * 26, ,102, , , * 26, ,169, , , * 26, ,239, , , * 26, ,313, , ,752 81, , * 26, ,391, , , * 26, ,472, , , * 26, ,558, , , * 26, ,647, , , * 26, ,741, , , * 26, ,840,263 91, , * 26, ,943,044 79, , * 26, ,050,405 65, , * 26, ,164,937 52, , * 26, ,287,557 41, ,998 81, , * 26, ,419,279 32,730 81, * 26, ,561,411 27,480 53, * 26, ,715,430 26,747 26, * 26, ,878,659 27,487 27, * 26, ,051,679 29,893 29, * 26, ,235,110 34,180 34, * 26, ,429,612 40,580 40, * ,636,421 77,938 77, * ,856, , , * ,090, , ,077 81,600 1,068,760 Withdrawal /Loan is based on Non-guaranteed Current Assumptions. Agent: Aspen Financial Page: 8 of B(107)G07

9 Tabular Detail Guaranteed Non-Guaranteed Non-Guaranteed Assumptions Assumptions - Fixed Assumptions - Current 0.25% EOY Interest 4.50% EOY Interest 7.70% EOY Planned With- Net Net Net Premium drawals/ Account Surrender Death Account Surrender Death Account Surrender Death Age Year Outlay Loans Value Value Benefit Value Value Benefit Value Value Benefit * ,339, , , * ,604, , , * ,885, , , * ,186, , , * ,505, , , * ,845, , , * ,208, , , * ,594, , , * ,005, , , * ,444,175 1,053,650 1,053,650 81,600 1,068, * ,911,667 1,201,616 1,201, * ,410,149 1,364,596 1,364, * ,941,779 1,543,948 1,543, * ,508,871 1,741,149 1,741, * ,113,908 1,957,799 1,957, * ,759,552 2,195,638 2,195, * ,448,661 2,456,551 2,456,551 81,600 1,068,760 Withdrawal /Loan is based on Non-guaranteed Current Assumptions. Agent: Aspen Financial Page: 9 of B(107)G07

10 Supplemental Footnotes * Under age 120, even if the premium outlay is zero, monthly deductions will continue. Depending on actual results, additional premiums may be needed to avoid termination of the policy. The Guaranteed columns assume an initial guaranteed interest rate of 0.25% and guaranteed cost of insurance rates. The Current columns assume an initial current interest rate of 7.70% and current cost of insurance rates. Life Insurance Cost Information Net Payment Cost 5% Surrender Cost 5% Guaranteed Non-guaranteed Guaranteed Non-guaranteed Year Year Projected annual cost indices are based upon assumed interest and current cost of insurance rates and are not guaranteed. There are two types of cost indices: 1) Net Payment Cost Index which helps you compare your costs if you don't give up your policy before its coverage ends; 2) Surrender Cost Index which helps you compare the costs between two policies if you give up the policy and take out the cash value. If the planned premium payment is insufficient to provide the coverage desired this illustration will show the death benefit to be expired (as indicated by "0"). This means that the policy and any riders will lapse unless a higher premium is paid, a higher interest rate has been credited, benefits are reduced, or mortality charges are more favorable than currently assumed. The Internal Revenue Service has placed limits on the amount of premium you can pay into a Universal Life insurance policy. In order to receive favorable federal tax treatments on distributions made during the lifetime of the insured (including loans), a life insurance policy must satisfy a 7-Pay Premium limitation during the first seven policy years. A new 7 year limitation will be imposed after certain policy changes. Failure to satisfy this limitation would cause your policy to be considered a Modified Endowment Contract (MEC). Distributions under a MEC are taxable to the extent there is a gain in the contract. In addition, with certain exceptions, there is a non-deductible penalty tax equal to 10% of the taxable distribution, if a policy distribution is made before age 59 1/2. In any case, a gain in the contract is taxable upon full surrender of the policy. Based on the initial 7-PAY Premium, the premiums illustrated during the first 7 years are within the limitation for favorable status. In order to receive favorable federal income tax treatment on the policy death benefit, the premium paid on a life insurance policy must not exceed the maximum guideline premium limitation. The limitation is equal to the greater of (a) the Guideline Single Premium or (b) the cumulative sum of the Guideline Level Premiums paid annually. If the maximum guideline premium limitation is exceeded, the policy will no longer be considered life insurance. The policy owner will be taxed on the gain in the policy each year even if a cash distribution is not made. However, the policy death benefit will generally be income tax-free when paid to the beneficiary. If any gain in the cash surrender value has not yet been taxed when the policy death benefit is paid, the untaxed gain will be subject to tax at that time. Target: $1, GL Single: $26, PAY: $7, GL Annual: $2, Agent: Aspen Financial Page: 10 of B(107)G07

11 Additional Information Interest Crediting Options Premium payments may be allocated between a Fixed Rate Account, an Annual Point To Point 100% Participation Rate Index Account, an Annual Point To Point 140% Participation Rate Index Account, and a Monthly Point To Point Index Account. Minimum Maximum Current Maximum 25 Year 25 Year CAP Illustrated Interest Crediting Option Allocation Average Average Rate Rate S&P 500 One-Year Annual PtP with 100% PAR w/ Cap % 5.00% 9.92% 14.00% 7.70%* S&P 500 One-Year Annual PtP with 140% PAR w/ Cap 0.00% 4.07% 7.13% 8.50% 5.60%* S&P 500 One-Year Monthly PtP w/cap 0.00% 3.68% 9.28% 3.75% 6.45%* Fixed Rate 0.00% n/a n/a n/a 4.50% * This rate is less than or equal to the average performance of the S&P 500 Index from all of the 25 year rolling periods over the last 65 years when subjected to the current CAP Rates noted above and a 0.25% minimum. The current values in this illustration assume an overall crediting rate of 7.70% which is the weighted average of the assumed rates for each Account. The illustrated value for each account may be capped at the benchmark rate. "S&P 500 is a trademark of The McGraw-Hill Companies, Inc. and has been licensed for use by Fidelity & Guaranty Life Insurance Company. Standard & Poor's does not sponsor, endorse, promote, or make any representation regarding the advisability of purchasing the contract." Account Allocation Dates Net premiums (total premium less applicable charges and expenses) will earn interest in a short term fixed interest account until the next available account allocation date. Currently, this short term account is crediting 4.50%. Account allocation dates occur on the 15th of each month. Premiums received less than two business days before the 15th will remain in the short term fixed interest account until the 15th of the following month. On the account allocation date, the net premium plus interest earned in the short term fixed interest account will be allocated among the Fixed Rate Account, Annual Point To Point 100% Participation Rate Index Account, Annual Point To Point 140% Participation Rate Index Account, and Monthly Point To Point Index Account per your request. Notification of any requested allocation changes must be provided at least 30 days prior to the account allocation anniversary date. How the Interest Crediting Works Interest is credited daily at a rate of 0.25%. Additional interest may be credited on each account allocation anniversary date. The interest rate for the Fixed Rate Account will be declared at the beginning of each 12 month crediting period. Interest is credited daily in the Fixed Rate Account at a rate of 0.25%. The additional interest credited on the account allocation anniversary is equal to the declared annual rate less the 0.25% that had been credited throughout the 12 month crediting period. The current rate for the Fixed Rate Account is 4.50%. The additional interest that may be credited to the indexed accounts is based on formulas linked to changes in the S&P 500 index over the 12 month crediting period. Note that the 12 month crediting period is based upon the date the account value is moved into Agent: Aspen Financial Page: 11 of B(107)G07

12 Additional Information an indexed account, not the calendar year or the policy anniversary. For the Annual Point To Point 100% Participation Rate Index Account, interest is credited daily at a rate of 0.25%. The additional interest is calculated by multiplying the end of crediting year account value by the percentage change in the S&P 500 Index over the same period of time, subject to a maximum rate (Cap Rate) and a minimum rate of 0.25%, less the 0.25% that had been credited throughout the 12 month crediting period. The Cap Rate, guaranteed not to be less than 2.00%, is set on each monthly account allocation date and will be applied in the calculation of the interest credit at the end of the 12 month period. The current Cap Rate is 14.00%, meaning that this Account would earn interest equal to the corresponding change in the S&P 500 Index up to a maximum of 14.00%. If the S&P 500 Index experiences a decline over the 12 month crediting period, no additional interest will be credited beyond the 0.25% that had been credited daily throughout the 12 month crediting period. For the Annual Point To Point 140% Participation Rate Index Account, interest is credited daily at a rate of 0.25%. The additional interest is calculated by multiplying the end of crediting year account value by the percentage change in the S&P 500 Index over the same period of time, multiplied by 140%, subject to a maximum rate (Cap Rate) and a minimum rate of 0.25%, less the 0.25% that had been credited throughout the 12 month crediting period. The Cap Rate, guaranteed not to be less than 1.50%, is set on each monthly account allocation date and will be applied in the calculation of the interest credit at the end of the 12 month period. The current Cap Rate is 8.50%, meaning that this Account would earn interest equal to 140% of the corresponding change in the S&P 500 Index up to a maximum of 8.50%. If the S&P 500 Index experiences a decline over the 12 month crediting period, no additional interest will be credited beyond the 0.25% that had been credited daily throughout the 12 month crediting period. For the Monthly Point To Point Index Account, interest is credited daily at a rate of 0.25%. The additional interest is calculated by adding together the twelve monthly "capped index changes" from the crediting period, subject to a minimum annual rate of 0.25%, less the 0.25% that had been credited throughout the 12 month crediting period. The "capped index change" for a particular month is equal to the S&P 500 Index value at the end of the month less the S&P 500 Index value at the beginning of the month, divided by the value at the beginning of the month, subject to a maximum rate (Cap Rate). This monthly index change can be negative and the Cap Rate would not reduce the impact of a monthly decline in the S&P 500 Index. At the end of the 12 month crediting period, the twelve monthly "capped index changes" are added together to produce the annual credited rate. The Cap Rate, guaranteed not to be less than 1%, is set on each account allocation anniversary. The current Cap Rate is 3.75%, meaning that this Account could earn a maximum of 45.00% if the S&P 500 Index were to increase by at least 3.75% in each of the 12 months during the crediting period. If the sum of the 12 monthly capped index changes for the 12 month crediting period is less than 0.25%, no additional interest will be credited beyond the 0.25% that had been credited daily throughout the 12 month crediting period. Agent: Aspen Financial Page: 12 of B(107)G07

13 Historical Performance Summary The index account rates shown in this illustration are subject to a maximum regulatory rate, which is based on the Benchmark Index Account as defined in Actuarial Guideline 49. The maximum illustrated increase for all illustrated indices is the average from all of the 25 year rolling periods over the last 65 years when subject to the current CAP rates. The following table shows the actual historical index price changes and corresponding hypothetical index account increases using the guaranteed minimum rates and the current index caps for the most recent 20 year period. Annual Point to Annual Point to Monthly Point S&P 500 Point 100% PAR Point 140% with to Point with Start Date End Date Index with 14.00% CAP with 8.50% CAP 3.75% CAP 12/15/ /15/ % 14.00% 8.50% 9.17% 12/15/ /15/ % 14.00% 8.50% 13.85% 12/15/ /15/ % 14.00% 8.50% 4.91% 12/15/ /15/ % 14.00% 8.50% 3.93% 12/15/ /15/ % 0.25% 0.25% 0.25% 12/15/ /15/ % 0.25% 0.25% 0.25% 12/15/ /15/ % 0.25% 0.25% 0.25% 12/15/ /15/ % 14.00% 8.50% 11.30% 12/15/ /15/ % 12.89% 8.50% 6.96% 12/15/ /15/ % 5.41% 7.57% 5.65% 12/15/ /15/ % 12.29% 8.50% 11.52% 12/15/ /15/ % 1.32% 1.85% 0.25% 12/15/ /15/ % 0.25% 0.25% 0.25% 12/15/ /15/ % 14.00% 8.50% 10.58% 12/15/ /15/ % 11.49% 8.50% 7.56% 12/15/ /15/ % 0.25% 0.25% 0.25% 12/15/ /15/ % 14.00% 8.50% 11.56% 12/15/ /15/ % 14.00% 8.50% 17.58% 12/15/ /15/ % 11.37% 8.50% 5.75% 12/15/ /15/ % 2.70% 3.78% 0.25% 10 Year Average 20 Year Average 4.86% 8.01% 5.65% 6.39% 6.18% 8.37% 5.76% 5.97% Agent: Aspen Financial Page: 13 of B(107)G07