The power of a global strategy. Voya Indexed Universal Life-Global Choice Issued by Security Life of Denver Insurance Company

The power of a global strategy Voya Indexed Universal Life-Global Choice Issued by Security Life of Denver Insurance Company

Global exposure with the advantage of hindsight Voya Indexed Universal Life-Global Choice (Voya IUL-Global Choice) has the potential to grow cash value, protect loved ones with a death benefit and allow you to enjoy your working and retirement years knowing that you have supplemental income or cash value that can be used in the future. And all this using a patented hindsight methodology with global index accounts. Grow: Cash value in your policy Protect: Loved ones with a death benefit Enjoy: Supplemental income or cash value in the future You have the choice With indexed universal life (IUL) you have the option for cash value accumulation through index crediting rather than using the interest rate based on the insurance company s portfolio rate. ā ā The fixed strategy credits a fixed rate of interest as declared by the insurance company. ā ā An indexed strategy has crediting potential based on a calculation using a portion of the increases, if any, in a stock market index or indexes. Key features Patented hindsight methodology Three indexed strategies Valuable death benefit protection Select Loans may reduce out of pocket costs Guaranteed minimum interest rates to minimize market risk Alternate Guaranteed Account Value provides 1% policy guarantee upon surrender or death Cash value accumulation potential Cash value is the potential growth component of the policy. Part of the premium you pay is used to provide death benefits and the remainder is available to potentially grow in an account on a tax-deferred basis. As an additional benefit, you have the option to borrow from the net surrender value through a loan or withdrawal and use it in the future for any purpose you wish. 1 1 Policy loans and withdrawals may reduce or eliminate index credits, generate an income tax liability, reduce available surrender value and reduce the death benefit, or cause the policy to lapse. 2

Crediting strategies Fixed strategy Guaranteed minimum interest rate: 2% per year At each policy anniversary the rate may vary based on the current credited interest.¹ All guarantees are based on the financial strength and claims paying ability of Security Life of Denver Insurance Company, who is solely responsible for all obligations under their policies. Indexed strategies Guaranteed minimum interest rate: 0% per year We offer three indexed strategies that credit interest based upon a portion of the increases, if any, in an index or indexes. S&P 500 1 Year Point to Point Indexed Strategy Credits based on 500 of the largest companies in the United States. Subject to current index cap (guaranteed minimum is 3.5%) Current participation rate: 100% (guaranteed minimum is 100%) 2 Year Global Indexed Strategy Credits based on the S&P 500, EURO STOXX 50 and Hang Seng Index. Current index cap: None (guaranteed minimum is 10%) Current participation rate: 65% (guaranteed minimum is 20%) 5 Year Global Indexed Strategy Credits based on the S&P 500, EURO STOXX 50 and Hang Seng Index. Current index cap: None (guaranteed minimum is 100%) Current participation rate: 90% (guaranteed minimum is 15%) Both the 2 Year and 5 Year Global Indexed Strategies use these indexes: EURO STOXX 50 Index (EURO STOXX 50 ) An index of blue-chip stocks that are represented by 50 stocks covering the largest sector leaders in the EURO STOXX 50 Index. Hang Seng Index An index of the largest and most liquid stocks listed on the Stock Exchange of Hong Kong. S&P 500 Index (S&P 500 ) An index of stock performance of 500 publicly traded companies. 1 The credited rate will be set according to company practice based on the performance of the insurance company s general account. 3

The effect of using three indexes The Global Indexed Strategies attempt to minimize volatility by using three indexes under a weighted formula. You may be surprised with the comparison of these indexes in the graph below. Using 2-year index change rates you can see the S&P 500 had the highest ranking when compared to the other two indexes only 32% of the time while the Hang Seng had the highest ranking 45% of the time. However, even though the S&P 500 didn t finish first that often, when first and second place are combined, you find that 73% of the time the S&P 500 was ranked either first or second when compared to the other two indexes. 50 Only the Best Two-outof-three Indexes are used! Index Finishing Positions 2 year blocks (ending on 01/28/1992-12/28/2016) 50 50 40 30 20 32% 23% 45% 40 30 20 41% 34% 25% 40 30 20 27% 43% 30% 10 10 10 0 0 0 1st Place 2nd Place 3rd Place S&P 500 EURO STOXX 50 Hang Seng These unmanaged indexes are not intended to represent specific investments. Investors cannot invest directly in an index. Past index performance does not represent future performance of these indexes. The finishing positions for each index were determined based on the changes in the value of each index between the 28th day of each month during the period shown and the same date two years earlier. The percentages shown reflect the number of times that each index had the highest (1st place), second highest (2nd place), and lowest (3rd place) 2-year index change rate on the 28th day of each month during the period. The data provided provides only a comparison of the indexes to each other and provides no information relative to the performance of the indexes during the period shown. The Global Indexed Strategies are designed to allow you to benefit from the value of hindsight. That s because at the end of each 2-year or 5-year period, a portion of only the top two indexes are used in the index credit calculation. 75% 25% 0% of the highest index change rate of the next highest index change rate of the lowest index change rate The worst performing index is never used. 4

Understanding how your premiums are applied 1. You make a premium payment. 2. The net premium (minus the premium expense charge) is added to the fixed account first. 3. Elections to the index account are made on the election date. 4. Index credits, if any, based on the performance of the underlying index are credited to your index account, subject to an index cap and participation rate. 5. Charges are deducted monthly, first from the fixed account, then the index account. Additionally, you can access the net surrender value of your account by taking a loan or a partial surrender*. 6. The death benefit is available for your beneficiaries at the time of your death. 4 Index credits 1 Premiums 2 Fixed account 3 Index account Account value 6 Death benefit Premium charge 5 Charges, loans or partial surrenders Reduce risk with automatic elections Automatically spreading allocations into an indexed strategy can help reduce the risk of allocating at the wrong time by spreading out account values over multiple indexed strategy blocks. *Policy loans and withdrawals may reduce or eliminate index credits, generate an income tax liability, reduce available surrender value and reduce the death benefit, or cause the policy to lapse. Some terms to know: Death benefit: The portion of a life insurance policy that is paid to the beneficiary when the insured passes away. Fixed account: The interest credited under the fixed strategy is held in the fixed account. Index: A statistical composite that measures changes in financial markets, such as the S&P 500, EURO STOXX 50, and Hang Seng Index. Indexed account: Index credits under the indexed strategy are held in the indexed account. Index credit: An index credit is calculated and added to a block (a portion of the value of the indexed strategy) at the close of business on the block maturity date only. Index crediting period: Time period over which the index is being measured. Index cap: The limit on the index change rate and the weighted index change rate (as applicable for the indexed strategies available under the policy) that is used in calculating the index credit. The index cap that is in effect on the block start date will not change for that block. Participation rate: Percentage of the index change rate or weighted index change rate that is recognized in the calculation of the index credit. The participation rate that is in effect on the block start date will not change for that block. 5

Riders Accelerated Benefit Rider You get this added protection that could pay you an accelerated portion of the eligible death benefit if you are diagnosed with a qualifying terminal or catastrophic illness. Adjustable Term Insurance Rider Ability to plan for future growth by scheduling an increase to insurance coverage by adding a term insurance death benefit. Additional Insured Rider Provides term coverage on the additionally insured spouse or children of the base insured. Cash Value Flex Rider* May help to increase the cash surrender values during the early years of the policy. Chronic Illness Rider Provides access to your death benefit to help pay expenses if you become chronically ill. Early Cash Value Rider This rider provides that, in policy years 1-6, the surrender value is not less than 95% of the premiums paid on the policy. It also waives surrender charges upon full surrender only. This rider may not be available in all states or to all policy owners. There is an additional charge for this rider benefit and certain conditions and limitations apply. Overloan Lapse Protection Rider Helps protect heavily loaned policies from lapsing. Premium Deposit Fund Rider Provides an interest bearing fund from which amounts are automatically deducted to pay premiums when they're due. Waiver of Cost of Insurance Rider Waives monthly COI and expense charges if diagnosed with total disability. Waiver of Specified Premium Rider Credits a specified premium monthly to policy if diagnosed with total disability. * Cash Value Flex Rider is also known as the Supplemental Term Insurance Rider. 6

About Voya Financial Voya Financial, Inc. (NYSE: VOYA), helps Americans plan, invest and protect their savings to get ready to retire better. Serving the financial needs of approximately 13 million individual and institutional customers in the United States, Voya is a Fortune 500 company that had $484 billion in assets under management and administration in 2016. With a clear mission to make a secure financial future possible one person, one family, one institution at a time Voya s vision is to be America s Retirement Company. Voya Life Companies It begins with a simple promise We promise to be here when you need us. Thank you for protecting your financial future through the Voya family of life insurance companies. We trace our roots back to 1885, and we promise to be here when you need us. It is a promise we work hard to meet every day. And behind that promise stands an organization of thousands of people all working hard in your best interest. Developing the financial products you rely on and soundly investing the premiums you pay. Moreover, when you choose to purchase life insurance from us you put your faith in one of the world s largest and strongest financial entities. You get choice treatment well after your purchase Our commitment to you does not end with your purchase, it is just beginning. Voya IMPACT is a dedicated customer service team to help ensure that your policy continues to support your goals throughout the life of the policy, and through any of your life s changes. We reserve the right to modify or discontinue the IMPACT service at any time. 7

Voya Indexed Universal Life Global Choice (Voya IUL-Global Choice) IS A FLEXIBLE PREMIUM ADJUSTABLE UNIVERSAL LIFE INSURANCE POLICY THAT OFFERS A DEATH BENEFIT TO THE BENEFICIARIES OF THE POLICY AND MAY BE PURCHASED TO MEET YOUR LIFE INSURANCE NEEDS. WHILE THE POLICY SURRENDER VALUES MAY BE DETERMINED BY REFERENCE TO AN INDEX-LINKED CREDITING STRATEGY, SUCH SURRENDER VALUES SUPPORT THE DEATH BENEFIT OFFERED UNDER THE POLICY. THIS POLICY IS NOT A VARIABLE CONTRACT OR AN INVESTMENT CONTRACT. This document is not intended to be a complete explanation of the policy, which must be consulted for restrictions, definitions and details. The Voya Life Companies and their agents do not give tax, legal, accounting or lending advice. This information is general in nature and should seek advice from their tax and legal advisors regarding their individual situation. Voya IUL-Global Choice, policy form series #1186-09/12 has an equity indexed feature, varies by state and may not be available in every state. It is issued by Security Life of Denver Insurance Company (Denver, CO), a member of the Voya family of companies. Not available in New York. The index cap and index participation rate are subject to change for new index blocks. All guarantees are based on the financial strength and claims paying ability of Security Life of Denver Insurance Company who is solely responsible for the obligations under its own policies. EURO STOXX 50 Index An Index of blue-chip stocks that are represented by 50 stocks covering the largest sector leaders in the EURO STOXX 50 Index. It does not reflect dividends payable on the underlying stocks. STOXX Limited, Zurich, Switzerland and its licensors (the Licensors ) have no relationship to Security Life of Denver Insurance Company ( Security Life ), other than the licensing of the EURO STOXX 50 Index and the related trademarks for use in connection with the Voya Indexed Universal Life Global Choice ( Voya IUL-Global Choice ) insurance policy. STOXX and its Licensors do not: (1) Sponsor, endorse, sell or promote the Voya IUL-Global Choice policy; (2) Recommend that any person invest in the Voya IUL-Global Choice policy or any securities; (3) Have any responsibility or liability for or make any decisions about the timing, amount or pricing of the Voya IUL-Global Choice policy; (4) Have any responsibility or liability for the administration, management or marketing of the Voya IUL-Global Choice policy; or (5) Consider the needs of the Voya IUL-Global Choice policy or the owners of the Voya IUL-Global Choice policy in determining, composing or calculating the EURO STOXX 50 Index or have any obligation to do so. The Hang Seng Index (the Index ) is published and compiled by Hang Seng Indexes Company Limited pursuant to a license from Hang Seng Data Services Limited. The mark and name Hang Seng Index are proprietary to Hang Seng Data Services Limited. Hang Seng Indexes Company Limited and Hang Seng Data Services Limited have agreed to the use of, and reference to, the Index by Security Life of Denver Insurance Company ( Security Life ) in connection with this Indexed universal life insurance policy (the Policy ), BUT NEITHER HANG SENG INDEXES COMPANY LIMITED NOR HANG SENG DATA SERVICES LIMITED WARRANTS OR REPRESENTS OR GUARANTEES TO ANY BROKER OR HOLDER OF THE POLICY OR ANY OTHER PERSON (i) THE ACCURACY OR COMPLETENESS OF THE INDEX AND ITS COMPUTATION OR ANY INFORMATION RELATED THERETO; OR (ii) THE FITNESS OR SUITABILITY FOR ANY PURPOSE OF THE INDEX OR ANY COMPONENT OR DATA COMPRISED IN IT; OR (iii) THE RESULTS WHICH MAY BE OBTAINED BY ANY PERSON FROM THE USE OF THE INDEX OR ANY COMPONENT OR DATA COMPRISED IN IT FOR ANY PURPOSE, AND NO WARRANTY OR REPRESENTATION OR GUARANTEE OF ANY KIND WHATSOEVER RELATING TO THE INDEX IS GIVEN OR MAY BE IMPLIED. The process and basis of computation and compilation of the Index and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by Hang Seng Indexes Company Limited without notice. TO THE EXTENT PERMITTED BY APPLICABLE LAW, NO RESPONSIBILITY OR LIABILITY IS ACCEPTED BY HANG SENG INDEXES COMPANY LIMITED OR HANG SENG DATA SERVICES LIMITED (i) IN RESPECT OF THE USE OF AND/OR REFERENCE TO THE INDEX BY SECURITY LIFE IN CONNECTION WITH THE POLICY; OR (ii) FOR ANY INACCURACIES, OMISSIONS, MISTAKES OR ERRORS OF HANG SENG INDEXES COMPANY LIMITED IN THE COMPUTATION OF THE INDEX; OR (iii) FOR ANY INACCURACIES, OMISSIONS, MISTAKES, ERRORS OR INCOMPLETENESS OF ANY INFORMATION USED IN CONNECTION WITH THE COMPUTATION OF THE INDEX WHICH IS SUPPLIED BY ANY OTHER PERSON; OR (iv) FOR ANY ECONOMIC OR OTHER LOSS WHICH MAY BE DIRECTLY OR INDIRECTLY SUSTAINED BY ANY BROKER OR HOLDER OF THE POLICY OR ANY OTHER PERSON DEALING WITH THE POLICY AS A RESULT OF ANY OF THE AFORESAID, AND NO CLAIMS, ACTIONS OR LEGAL PROCEEDINGS MAY BE BROUGHT AGAINST HANG SENG INDEXES COMPANY LIMITED AND/OR HANG SENG DATA SERVICES LIMITED IN CONNECTION WITH THE POLICY IN ANY MANNER WHATSOEVER BY ANY BROKER, HOLDER OR OTHER PERSON DEALING WITH THE POLICY. Any broker, holder or other person dealing with the Policy does so therefore in full knowledge of this disclaimer and can place no reliance whatsoever on Hang Seng Indexes Company Limited and Hang Seng Data Services Limited. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker, holder or other person and Hang Seng Indexes Company Limited and/or Hang Seng Data Services Limited and must not be construed to have created such relationship. The S&P 500 Index The S&P 500 Index is a product of S&P Dow Jones Indices LLC ( SPDJI ), and has been licensed for use by Security Life of Denver Insurance Company ( Security Life ). Standard & Poor s, S&P, and S&P 500 are registered trademarks of Standard & Poor s Financial Services LLC ( S&P ) and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Security Life. This indexed universal life insurance policy (this Policy ) is not sponsored, endorsed, sold or promoted by SPDJI, S&P, any of their respective affiliates (collectively, S&P Dow Jones Indices ). S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the Policy or any member of the public regarding the advisability of paying premiums for the Policy or purchasing securities or the ability of the S&P 500 Index to track general market performance. S&P Dow Jones Indices only relationship to Security Life with respect to the S&P 500 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index is determined, composed and calculated by S&P Dow Jones Indices without regard to Security Life or the Policy. S&P Dow Jones Indices have no obligation to take the needs of Security Life or the owners of the Policy into consideration in determining, composing or calculating the S&P 500 Index. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of the Policy or the timing of the issuance or sale of the Policy or in the determination or calculation of the equation by which the Policy is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices have no obligation or liability in connection with the administration or marketing of the Policy. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice. S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY SECURITY LIFE, OWNERS OF THE POLICY, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND SECURITY LIFE, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES. Not FDIC/NCUA Insured Not A Deposit Of A Bank Not Bank Guaranteed May Lose Value Not Insured By Any Federal Government Agency Additional features and benefits may be available for this product. 2017 Voya Services Company. All rights reserved. CN0724-36059-0819 164144 08/21/2017 Voya.com