Variable Annuity Investment Options

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1 Variable Annuity Investment Options

2 Commonwealth Annuity offers a comprehensive range of investment options to help you build a diversified portfolio.

3 Our investment options at a glance. Commonwealth Annuity offers a comprehensive range of variable annuity investment options to help you build a diversified portfolio. You can choose from a variety of asset classes, making it easier to address your risk tolerance and better prepare yourself for every stage of retirement. Our variable investment options include domestic, international, industry-specific and fixed income funds from some of the world s most recognized fund families and trusted money managers. Your financial advisor can help guide you in choosing a portfolio that fits your retirement planning strategy and goals. Be sure to check with your financial professional to see if your strategy requires adjustment over time.

4 Underlying Fund Category Description Large Cap Blend Large-cap blend funds invest primarily in large companies, and include a combination of both growth and value stocks. They generally invest across a range of sectors. Large Cap Growth Large-cap growth funds invest primarily in large companies that are expected to grow more quickly than their similarly sized peers. They tend to focus on more rapidly expanding sectors. Large Cap Value Large-cap value funds focus on large market capitalization companies that are expected to grow more slowly than their similarly sized peers. They often include energy, financial, or manufacturing sector stocks. Mid Cap Blend Mid-cap blend funds invest in stocks of various sizes and mixed characteristics, giving it a middle-of-theroad profile. Most shy away from high-priced growth stocks, but are not so price-conscious that they land in value territory. Mid Cap Growth Mid-cap growth funds invest in companies that are expected to grow more quickly than the market and therefore tend to have higher-priced stock. Some focus primarily on medium sized companies, while others invest a variety of different sized companies, which effectively produces a mid-cap profile. They often include technology, healthcare and services sector stocks. Mid Cap Value Mid-cap value funds tend to focus on stocks that are expected to grow more slowly than the market and are therefore less expensive. Some invest primarily in medium sized companies, while others include a variety of different sized companies, which effectively produces a mid-cap profile. They often include financial, energy, and manufacturing sector stocks. Small Cap Blend Small-cap blend funds invest primarily in companies at the smaller end of the market-capitalization range. Some aim to own an array of value and growth stocks, while others attempt to maintain overall valuations and growth rates similar to the small-cap averages. Small Cap Growth Small-cap growth funds focus primarily on smaller companies that are expected to grow quickly. Many of these funds invest in the fast-growing technology, healthcare, and services sectors, with stocks that tend to be volatile. Small Cap Value Small-cap value funds invest in smaller companies that are expected to grow more slowly their similarly sized peers. They often invest in the manufacturing, financial, and energy sectors. Fixed Income Fixed income funds invest mainly in bonds. They can include many different types of securities issued by governments and corporations, which can vary widely in both credit quality and duration. World Allocation World-allocation funds seek capital appreciation and income by investing in stocks, bonds, and cash. Typically at least 10% bonds, less than 70% stocks, and at least 40% in non-u.s. stocks or bonds. Target Date Target date funds automatically reset their asset mix based on the investor s chosen investment horizon. Money Market Money market funds invest only in cash and cash equivalent securities. They are high credit quality, The investment options listed have certain associated risks. For more information about these risks, and to learn more about each investment option s investment objective, charges and expenses, please refer to the prospectus. Please note that the values of the variable annuity subaccount options fluctuate and may be worth more or less than the original cost when sold. Money Market funds are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the funds seek to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in the funds. Certain funds may only be available on qualified plans. Funds may not be available in all states. AllianceBernstein Investments, Inc. is an affiliate of AllianceBernstein L.P, the manager of the funds and is a member of FINRA. AllianceBernstein and the [A/B] Logo is a service mark of AllianceBernstein and AllianceBernstein is a registered trademark used by permission of the owner, AllianceBernstein L.P.

5 Underlying Funds Large Cap Blend Fidelity VIP Index 500 Portfolio - Service Class 2 Fidelity VIP Overseas Portfolio - Service Class 2 Goldman Sachs VIT Equity Index Fund - Service Shares Goldman Sachs VIT Strategic International Equity Fund - Service Shares Goldman Sachs VIT U.S. Equity Insights Fund - Service Shares Invesco V.I. Core Equity Fund - Series II Shares Oppenheimer Conservative Balanced Fund/VA - Service Shares Pioneer Emerging Markets VCT Portfolio - Class II Large Cap Growth Fidelity VIP Contrafund Portfolio - Service Class 2 Fidelity VIP Growth Opportunities Portfolio - Service Class 2 Goldman Sachs VIT Strategic Growth Fund - Service Shares Invesco V.I. American Franchise Fund - Series II Shares Invesco V.I. Global Health Care Fund - Series II Shares Janus Aspen Forty Portfolio - Service Shares Oppenheimer Global Fund/VA - Service Shares Large Cap Value AB VPS International Value Portfolio - Class B Fidelity VIP Equity-Income Portfolio - Service Class 2 Franklin Income VIP Fund - Class 2 Franklin Mutual Global Discovery VIP Fund - Class 2 Franklin Mutual Shares VIP Fund - Class 2 Temple Growth VIP Fund - Class 2 Goldman Sachs VIT Large Cap Value Fund - Service Shares MFS Utilities Series - Service Class Mid Cap Blend Invesco V.I. Mid Cap Core Equity Fund - Series II Shares Mid Cap Growth Fidelity VIP Mid Cap Portfolio - Service Class 2 Goldman Sachs VIT Growth Opportunities Fund - Service Shares Janus Aspen Enterprise Portfolio - Service Shares Pioneer Select Mid Cap Growth VCT Portfolio - Class I Mid Cap Value AB VPS Small/Mid Cap Value Portfolio - Class B Goldman Sachs VIT Mid Cap Value Fund - Service Shares Janus Aspen Perkins Mid Cap Value Portfolio - Service Shares Pioneer Mid Cap Value VCT Portfolio - Class II Fixed Income AB VPS Intermediate Bond Portfolio - Class B Fidelity VIP Strategic Income Portfolio - Service Class 2 Goldman Sachs VIT Core Fixed Income Fund - Service Shares Goldman Sachs VIT High Quality Floating Rate Fund - Service Shares Oppenheimer Global Strategic Income Fund/VA - Service Shares World Allocation Goldman Sachs VIT Global Trends Allocation Fund - Service Shares Target Date Fidelity VIP Freedom 2005 Portfolio - Service Class 2 Fidelity VIP Freedom 2010 Portfolio - Service Class 2 Fidelity VIP Freedom 2015 Portfolio - Service Class 2 Fidelity VIP Freedom 2020 Portfolio - Service Class 2 Fidelity VIP Freedom 2025 Portfolio - Service Class 2 Fidelity VIP Freedom 2030 Portfolio - Service Class 2 Fidelity VIP Freedom 2035 Portfolio - Service Class 2 Fidelity VIP Freedom 2040 Portfolio - Service Class 2 Fidelity VIP Freedom 2045 Portfolio - Service Class 2 Fidelity VIP Freedom 2050 Portfolio - Service Class 2 Fidelity VIP Freedom Income Portfolio - Service Class 2 Money Market Goldman Sachs VIT Government Money Market Fund - Service Shares FOR QUALIFIED PLANS ONLY: Large Cap Blend Goldman Sachs Balanced Strategy Portfolio - Class A Goldman Sachs Equity Growth Strategy Portfolio - Class A Goldman Sachs Growth and Income Strategy Portfolio - Class A Goldman Sachs Growth Strategy Portfolio - Class A Goldman Sachs International Real Estate Securities Fund - Class A Large Cap Growth Goldman Sachs Technology Tollkeeper Fund - Class A Mid Cap Growth Goldman Sachs Real Estate Securities Fund - Class A Small Cap Blend Fidelity VIP Disciplined Small Cap Portfolio - Service Class 2 Goldman Sachs VIT Small Cap Equity Insights Fund - Service Shares Oppenheimer Main Street Small Cap Fund /VA - Service Shares Small Cap Growth MFS New Discovery Series - Service Class Small Cap Value Franklin Small Cap Value VIP - Class 2

6 Commonwealth Annuity and Life Insurance Company Commonwealth Annuity and Life Insurance Company is a leading provider of products that offer capital, risk and business solutions for insurance companies throughout the United States. The company specializes in reinsurance, restructurings and acquisitions to help carriers achieve business objectives and growth. A focus on investment and risk management, along with commitment to service, underlie Commonwealth s track record and reputation throughout the industry. The company is a subsidiary of Global Atlantic Financial Group Limited, a financial services company focused on the annuity, life insurance and reinsurance markets with $40 billion in assets and nine offices. Commonwealth Annuity and Life Insurance Company 132 Turnpike Road, Suite 210 Southborough, MA commonwealthannuity.com This material is authorized for distribution only when accompanied or preceded by a prospectus for the annuities being offered. The prospectus contains investment objectives, risks, fees, charges, expenses, and other information regarding the variable annuity contract and the underlying investments, which should be considered carefully before investing. You should read the prospectus carefully before investing money. Annuity contracts do not represent deposits or obligations of any banking institution nor are they insured by the Federal Deposit Insurance Corporation or guaranteed by any federal government agency. Preferred Plus variable annuity is a flexible premium fixed and variable deferred annuity issued by Commonwealth Annuity and Life Insurance Company, and underwritten and distributed by Global Atlantic Distributors, LLC. Advantage IV variable annuity is a flexible premium fixed and variable deferred annuity issued by Commonwealth Annuity and Life Insurance Company, and underwritten and distributed by Global Atlantic Distributors, LLC. Horizon variable annuity is a flexible premium variable deferred annuity issued by Commonwealth Annuity and Life Insurance Company, and underwritten and distributed by Global Atlantic Distributors, LLC. Copyright 2016 Commonwealth Annuity and Life Insurance Company CW5007 (05-16) CW5007 (05-15) commonwealthannuity.com