Financial Needs Analysis FNA by Virtual Financial

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D#EF"BGHA"EIJJ#KL Estimated Combined Monthly Household Income

$4,783.33

All Monthly Expenses

$3,560.00

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Total Monthly Expenses

$5,387.33

Estimated Combined Monthly Discretionary Income

($604.00)

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Combined Current Household Annual Income

$57,400.00

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LIVING BENEFITS PLUS DEATH BENEFITS IN ONE SIMPLE SOLUTION TERM LIFE INSURANCE FROM TRANSAMERICA LIFE INSURANCE COMPANY

TRENDSETTER LB (LIVING BENEFITS) ®

Are You and Your Family Prepared for Life’s Surprises? You’ve always done your best to provide for, and protect, your family’s financial security. But life has a funny way of coming up with unexpected situations to surprise you.

The Financial Impact of Illness Recent studies show that nearly half of all Americans suffer from at least one chronic illness, and many of these people have one or more daily activity limitations.1 Chronic diseases—such as heart disease, stroke, cancer, diabetes, and arthritis—are among the most common and costly of all health problems in the U.S., and are also the leading causes of death and disability.1 You may not have considered it until now, but more and more Americans are learning that certain types of life insurance can play an important role in protecting their family’s financial future when an unexpected chronic, critical or terminal illness happens.

Why Term Life Insurance Can Be the Difference Term life insurance is one of the most important things you can put in place to provide financial protection for your family if you were to pass away unexpectedly. But did you know that Trendsetter ® LB term life insurance from Transamerica Life Insurance Company also gives you the ability to get cash to pay your bills should you become stricken with a chronic, critical or terminal illness—even if you already have health insurance or Medicare coverage?

THE LIVING BENEFIT SOLUTION TERMINAL ILLNESS PROTECTION

CHRONIC ILLNESS PROTECTION CRITICAL ILLNESS PROTECTION

DEATH BENEFIT PROTECTION

LB What Living Benefits Can Bring to Your Life If you are diagnosed with a chronic, critical or terminal illness, a Trendsetter LB term life insurance policy allows you to accelerate a portion of your policy face amount to: 2

WHY TRANSAMERICA LIVING BENEFITS?

s 0AY FOR CARE OR TREATMENT THAT MAY NOT BE COVERED BY YOUR HEALTH INSURANCE PLAN s 2EPLACE INCOME LOST AS A RESULT OF YOUR ILLNESS s 0ROVIDE FOR IN HOME CARE OR FACILITY NEEDS

s4RENDSETTER ÂŽ ," POLICIES OFFER COVERAGE FROM TO

And, any death benefit value not used as a living benefit will go to your loved ones after your death.

s9OU MAY BE ELIGIBLE TO RECEIVE COVERAGE UP TO WITHOUT THE NEED FOR A MEDICAL EXAM 3 s! CHOICE OF COVERAGE PERIODS Â&#x2C6; FROM

AND YEARS

The Transamerica Advantage Term life insurance is one of the most cost-effective choices you can make to provide a financial safety net for your family. And when it comes to choosing a life insurance company, you want one you can depend on. People have turned to Transamerica Life to ensure the future financial security of their families for over 100 years.4 Let us help you protect your familyâ&#x20AC;&#x2122;s future.

Contact your life insurance professional or Transamerica today.

Centers for Disease Control and Prevention. Chronic Diseases and Health Promotion; http://www.cdc.gov/chronicdisease/overview/index.htm

Subject to state availability. Minimum and maximum amounts that may be accelerated may vary. Some portion of the payments may be taxable, and policy owners are advised to consult with their tax advisors when making a request for an Accelerated Death Benefit.

The $25,000 to $99,999 rate band (Band 1) and the $100,000 to $249,999 rate band (Band 2) on Trendsetter LB are available on the Standard Nonsmoker, Standard Smoker, Standard Express Nonsmoker and Standard Express Smoker risk classes on a non-med basis. Non-med requirements include the application, non-medical application supplement (part 2), a Medical Information Bureau release form, prescription check and a possible personal history interview and/or an Attending Physicians Statement.

Transamerica Life Insurance Company is descended from a company founded in 1906.

Trendsetter ÂŽ LB is term life insurance issued by Transamerica Life Insurance Company, Cedar Rapids, IA 52499. Policy Form No. TL19. Premiums increase annually beginning in year 11 for the 10-year policy, in year 16 for the 15-year policy, in year 21 for the 20-year policy, in year 26 for the 25-year policy, and in year 31 for the 30-year policy. Policy form and number may vary, and this policy may not be available in all jurisdictions. Insurance eligibility and premiums are subject to underwriting. In most states, in the event of suicide during the first two policy years, death benefits are limited only to the return of premiums paid. OL 3021 1112

! !

WRL Financial Foundation IULSM Index Universal Life Insurance

AG06111-07/13

Western Reserve Life Assurance Co. of Ohio

A solid foundation is essential to standing the test of time. The same should be true of any financial strategy.

Life Insurance as a Foundation With life insurance, you have peace of mind that you and your family have laid a firm foundation for your financial future. The federal tax-free death benefit offered by all life insurance allows families to help meet financial obligations and rebuild in a time of need. However, only permanent life insurance includes a death benefit and the potential to grow Policy Value for use later in life. The WRL Financial Foundation IULSM from Western Reserve Life Assurance Co. of Ohio (WRL), offers: » Growth Potential of Policy Value » Guaranteed Minimum Interest Rate, or Floor* » Tax-Free Death Benefit » Tax-Deferral on Any Earnings » Tax-Free Loans and Withdrawals**

* For the purpose of this brochure the terms “guaranteed minimum interest rate” and “floor” are used interchangeably and are intended to express the same idea. Guarantees are based on the claims paying ability of WRL. ** Policy loans and withdrawals are tax-free to the extent that they do not exceed the basis (generally, premiums paid less withdrawals) and that the policy does not lapse, is not surrendered and is not and does not become a modified endowment contract (MEC).

Consider the Facts When making a financial decision, it is important to have as much information as possible. Here are a few things to consider. √

Nearly 70% of U.S. households with dependents would be in jeopardy if the primary breadwinner passed away1

40%

of U.S. households with dependents say they would have immediate trouble paying bills if a primary wage-earner died today1

30%

more of U.S. households with dependents say they would have trouble paying bills in a just few months1

√

1 2

In 2009

Social Security, if claimed at age 65, replaced approximately 40% of an average retiree’s income2

In 2037

if the Social Security Trust Fund is depleted and benefits are cut, that number is forecasted to fall to 28%2

LIMRA, “Facts About Life 2010”, September 2010. The Social Security Fix-It Book, Center for Retirement Research at Boston College, 2009

Know What to Plan For You can find a balance between protecting your family and working towards a comfortable and stable retirement. A life insurance death benefit is commonly used to protect family members against an unexpected death. In fact, almost six in ten U.S. households with dependents plan to use life insurance to provide for their families in the event of their premature death, more than any other financial resource.1 Also, new reports suggest that a growing concern for many Americans is the fear of outliving their funds in their retirement years.

Many families are having to ask themselves two different but equally important questions: » “When I die, will my family have the means to maintain their standard of living?” » “When I retire, will I outlive my savings and face financial hardship?”

2010 U.S. Life Ownership Study, LIMRA

Real World Concerns Families need solutions to help them face economic uncertainty head on. There are a number of variables to consider when putting your financial house in order. Taxes, inflation and market volatility are just a few of the concerns that can make the whole process seem overwhelming. Whatever solution you choose should match your financial objectives and you may want to consider the following:

Growth potential to help outpace inflation

Safety through guarantees

Reduce the effects of taxes

Protect your family from financial hardship if a loved one passes away

Real World Solutions Permanent life insurance can help provide a solid tomorrow. The WRL Financial Foundation IUL has four key features to provide for the needs of today’s families. Make sure your family’s financial plan is on solid ground with:

Growth Potential, Guarantees*, Tax Advantages and Protection.

Growth Potential

Guarantees

Two Index Account Options to Choose From

Guaranteed Minimum Interest Rate or “Floor”

Tax Advantages

Protection

Tax-Free Loans and Withdrawals Tax-Deferral on Any Earnings Tax-Free Transfers

Federal Income Tax-Free Death Benefit

* Guarantees are based on the claims paying ability of WRL.

Opportunities for Growth Potential To build assets or increase purchasing power, growth has to exceed inflation, not just keep pace with it. A choice of domestic and global index account options may offer the opportunity you need to keep up. The WRL Financial Foundation IUL gives you the option to allocate your net premiums to one or more of the following accounts: » Global Index Account » S&P 500® Index Account » Basic Interest Account

The Global and S&P 500® Index Accounts have the potential to credit higher interest rates than the Basic Interest Account, up to their Caps*. The Cap is the maximum percentage of index change your Index Account may be credited. Caps are set by WRL at its discretion and are subject to change. The Cap for any Segment may increase or decrease but will never be less than the current interest rate for the Basic Interest Account.

The Basic Interest Account is credited with a rate of interest declared by WRL and the two Index Accounts are credited with interest based on changes in one or more indexes.

√ Rising costs and other factors have resulted in a significant increase in the cost of everyday goods and services.

Item**

1985

2011

Stamp College Home

$0.22 $15,137 $100,800

$0.45 $35,071 $267,500

* The Global Index Account and S&P 500® Index Account may be credited with Excess Interest based on changes in the indexes. Note that even though the interest credited to an Index Account Option may be affected by stock indexes, index universal life insurance policies are not an investment in the stock market or the indexes and do not participate directly in any stock or investment. ** Source: Stamp: U.S. Postal Service. College: The College Board Trends in College Pricing 2011 Average Fixed Changes (tuition fees, room and board for one year) for undergraduates, 2011-2012 (weighted) at a four-year private university. Home: U.S. Census Bureau. New One-Family Houses Average Selling Price.

Multiple Account Options S&P 500® Index Account (IA)

Credited with interest based, in part, on changes in the S&P 500® Index

S&P 500® Index The S&P 500® Index tracks 500 large cap U.S. equities in leading industries of the U.S. economy, and is one of the most well known market benchmarks.

EURO STOXX 50® Index Global Index Account (GIA)

Credited with interest based, in part, on changes in three indexes

The EURO STOXX 50® Index is comprised of 50 large cap stocks from leading European blue-chip companies.

Hang Seng Index The Hang Seng Index has a long history beginning in the 1960s and is one of the most recognized indicators of the stock market performance in Hong Kong.

Western Reserve Life Basic Interest Account (BIA)

Interest is credited at a rate declared by WRL.

The Power of a Guaranteed Floor Avoiding loss can be as important as realizing gains. Index changes may be positive or negative. With the WRL Financial Foundation IUL, you have the security of knowing you will never be credited less than the Guaranteed Minimum Interest Rate*, or floor.

The floor is a protective feature that ensures all three account options will always credit positive interest. That is the power of a guaranteed floor.

â&#x2C6;&#x161;

Recovering From a Loss This example helps illustrate the effects of a loss and what it takes to recover from it. For example, a 10% loss, requires an 11% gain. A 20% loss requires a 25% gain, and so on...

*Guarantees are based on the claims paying ability of WRL.

Loss -10% -20% -30% -40% -50%

Gain +11% +25% +43% +67% +100%

Account Floors and Caps Account

Floor

Cap

Additional Information

Global Index Account (GIA)

0.75%

13.50%

Any excess interest is credited annually at the end of each segment period

S&P 500® Index Account (IA)

0.75%

12.25%

Any excess interest is credited annually at the end of each segment period

Basic Interest Account (BIA)

2.00%

N/A

WRL declares an annual interest rate that will never be less than 2.00%

Index Trademark Disclosures

S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). The foregoing trademarks have been licensed for use by S&P Dow Jones Indices LLC. S&P® and S&P 500® are trademarks of S&P and have been licensed for use by S&P Dow Jones Indices LLC and the Company. The S&P 500® index is a product of S&P Dow Jones Indices LLC and has been licensed for use by the Company. This policy is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P nor their Respective affiliates make any representation regarding the advisability of purchasing this policy. The EURO STOXX 50® is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland, (the “Licensor”), and is used under license. This life insurance policy, based, in part, on the Index is in no way sponsored, endorsed, sold or promoted by the Licensor and the Licensor shall have no liability with respect thereto. Please read the full disclaimer in the WRL Financial Foundation IUL policy regarding the Hang Seng Index in relation to the policy. 11

Tax Advantages Tax-Deferred Earnings The WRL Financial Foundation IUL Policy Value benefits from tax deferral. Life insurance contracts meet special IRS requirements that allow amounts credited to the Policy Value to be tax-deferred. This favorable treatment enhances the WRL Financial Foundation IUL’s Policy Value accumulation potential.

You do not have to pay taxes on gains in the policy during years in which they are earned or while they remain in the policy. Taxes are deferred until the policy is surrendered, lapses, or when certain distributions occur. The gains left in the policy can continue to accumulate and lead to potentially higher Policy Values. IRC Sec. 72

Access Policy Value When You Need It Most Tax-Free Loans and Withdrawals* As your life changes, you may access your accumulated Policy Value through tax-free policy loans and cash withdrawals.

Here’s how. When the Policy Value is sufficient, premiums paid into a policy can be taken as tax-free withdrawals up to your cost basis in the policy. Provided there is still ample Cash Surrender Value in the policy, you could continue taking money out of the policy in excess of your basis through tax-free loans. When you take a policy loan, an amount equal to the loan balance will be transferred to a loan reserve account. Interest is charged on the loan balance, but at the same time the money in the loan reserve account earns interest which

is credited to the Policy Value. The credited interest helps offset the interest charged on the loan resulting in a net effective rate which is generally lower than the loan interest rate charged by banks for similar secured loans. In certain circumstances (see the next page), the loan interest rate charged on the loan balance is the same as the rate credited. And as long as you stay within the IRS guidelines, the withdrawals and loans may be taken without federal income tax liability. For additional information on the WRL Financial Foundation IUL policy’s withdrawal and loan features, see page 23.

Understanding Loan Rates Loan Rates

Current Rates

Guaranteed Rates

Credit

Charge

Net Effective Rate

Credit

Charge

Net Effective Rate

Years 1 -10

2.00%

2.75%

.75%

2.00%

3.00%

1.00%

Years 11+ on Cost Basis

2.00%

2.75%

.75%

2.00%

3.00%

1.00%

Years 11+ on Gain

2.00%

2.25%

.25%

* Distributions such as loans and withdrawals can only be made if the policy has been in force long enough to accumulate sufficient value. Loans and withdrawals will reduce the Policy Value and death benefit. Loans are subject to interest charges. If a policy lapses while a loan is outstanding, adverse tax consequences may result. Policy loans are generally not taxable when taken and cash withdrawals are not taxable until they exceed the cost basis in the policy. However, if the policy is treated as a modified endowment contract (MEC) by IRC Sec. 7702A, withdrawals and loans are taxable at an ordinary income tax rate when taken to the extent of gain then in the contract and may also be subject to a 10% federal income tax penalty if taken prior to age 59Â˝. Cash distributions associated with benefit reductions, including reductions caused by withdrawals during the first 15 years, may be taxable. Policyowners should consult with their tax advisor regarding their particular situation.

This policy is first and foremost a life insurance policy whose main purpose is to provide a death benefit. The policy is not a short-term savings vehicle nor is it ideal for short term insurance needs. It is designed to be long term in nature and should be purchased only if you have the financial ability to keep it in force for a substantial period of time.

Protection for Your Family A life insurance death benefit can provide an important safety net. This policy provides a federal income tax-free death benefit to help protect your family and their dreams. The Income Protection Option can be used to structure the death benefit in a way that can meet the short and long term needs of your family.

Tax-Free Death Benefit

Income Protection Option (IPO)

An important part of planning for the future is determining how your assets will be distributed among your beneficiaries. It is important to be aware of the tax consequences associated with certain assets so you avoid passing an unintended tax burden to your heirs.

Provides an alternative payment method to a lump sum death benefit. The IPO allows the policy owner to structure their death benefit with an initial lump sum, monthly income payments, and a final lump sum. Initial and final lump sums are optional. The monthly income payments can be extended over a period between 5 and 25 years.

In most cases, the WRL Financial Foundation IULâ&#x20AC;&#x2122;s death benefit is federal income tax-free when passing to beneficiaries. IRC SEC. 101(a)(1)

Security of a No Lapse Guarantee* Payment of the Minimum Monthly No Lapse Premium ensures that the policy will remain in force during the No Lapse Period. However, by paying only the minimum monthly premium, you may be forgoing the opportunity to build up additional Policy Value.

If you take a cash withdrawal or a loan, if you increase your Face Amount, if you change the death benefit option, or if you add or increase the amount of a rider, you may need to pay additional premiums in order to keep the No Lapse Guarantee in effect.

The No Lapse Period is as follows: » Issue Ages 0-45: 20 years

If the requirements of the No Lapse Guarantee are not met and the Cash Surrender Value is not enough to meet the Monthly Deductions and Index Account Monthly Charges, a grace period will begin and the policy will lapse at the end of the grace period unless sufficient payment is made. Allowing the policy to lapse may result in adverse tax consequences.

» Issue Ages 46-60: until age 65 » Issue Ages 61-85: 5 years

*After the no lapse period or if the cumulative Minimum Monthly No Lapse Premium requirements are not met, then fluctuations in interest rates and/or policy charges may require the payment of additional premiums to keep the policy in force. Guarantees are based on the claims paying ability of WRL.

Cost-Effective Protection With the WRL Financial Foundation IUL, you are covered. But what about the rest of your family? If you became disabled and could not work, would you be able to keep the policy’s protection in force? Do you have the financial resources to cope with a sudden illness?

Base Insured Rider

Overloan Protection Rider (OPR)*

Provides the insured with additional level term insurance coverage at term insurance rates.

As long as certain requirements are met, the OPR provides the policy owner with an option to prevent a policy lapse from occurring due to excessive loans. If such requirements are met and the policy owner chooses to exercise the option, the policy will become a paid up policy keeping the policy in force, preventing loans from being taxable while still providing a small death benefit to the insured’s beneficiaries.

Additional Insured Rider Provides level term insurance coverage for up to five of the base insured’s family members.

Children’s Benefit Rider Provides level term insurance coverage on the base insured’s children, between the ages of 15 days and 18 years old.

Guaranteed Insurability Benefit Rider Provides the option to purchase additional life insurance without evidence of insurability at the same underwriting class that currently applies to the base policy. Regular option dates are policy anniversaries following the insured’s 22nd, 25th, 28th, 31st, 34th, 37th, and 40th birthdays. Alternate option dates are available after the insured’s marriage, birth or adoption of a child, or college graduation.

There is no charge for this rider unless you choose to exercise it. Once the OPR is exercised, there is a one-time charge assessed as a percentage of the policy value based on the age of the insured (see chart below). Age

Percentage

75-90

94-120

Riders are available at an additional cost. Riders and rider benefits have specific limitations. For complete details including the terms and conditions of each rider and exact coverage provided, please consult your agent. *The election to exercise the OPR is irrevocable. Once the Rider Benefit has been exercised, all other riders attached to the policy will terminate and no further policy activity will be allowed. Also, no further loans will be allowed, but loan interest will continue to accrue. 16

Security in the Event of Accidents or Illness

Peace of Mind if You Become Disabled

Accidental Death Benefit Rider

Disability Waiver of Monthly Deductions Rider**

Pays the Face Amount of the rider if the insured’s death results directly from accidental bodily injury, independent of all other causes.

Terminal Illness Accelerated Death Benefit Endorsement* Allows the owner, upon terminal illness of the insured, to access up to 75% of the total death benefit on the insured or $500,000 aggregate maximum for all policies issued by us (before taking the interest discount and administrative charge), whichever is less, prior to death. This endorsement is included on each policy in states where it is available at no charge until the benefit is exercised.

Waives the policy’s monthly deductions should the insured become disabled (as defined in the rider). Subject to certain conditions.

Disability Waiver of Premium Rider*** If the insured becomes disabled, this rider applies the rider benefit shown in the policy as the policy’s premium payment (as defined in the rider). Subject to certain conditions.

* Eligibility for the Terminal Illness Accelerated Death Benefit is determined by a condition resulting from injury or illness which, as determined by a physician, has reduced life expectancy to not more than 12 months from the date of the physician’s statement. The policy’s benefits and values will be reduced proportionally in accordance with the benefits advanced under this endorsement. Benefits paid under this rider are generally federal income tax-free but may be subject to taxation under some business related policies. Please consult your tax advisor. ** It is possible that additional payments will be required to keep a policy in force while the monthly deductions are being waived. For example, loan interest accruing on an outstanding loan may require additional payments. *** It is possible that additional payments will be required to keep a policy in force while the Waiver of Premium Benefit is being paid. For example, an increase in monthly deductions or decrease in Policy Value may require additional payments. 17

Flexibility and Control Control How Your Net Premiums Are Allocated Flexible Premium Payment The WRL Financial Foundation IUL policy offers flexible premium payments. Subject to certain limitations, premiums may be increased, decreased, skipped or stopped altogether. However, the risk of a policy lapsing does increase if you do not regularly pay premiums equal to at least the current

Minimum Monthly No Lapse Premium. Net premiums* are applied to the Basic Interest Account, S&P 500速 Index Account, Global Index Account, or a combination of the three, according to your instructions.

Flexible Premium Payment Owner Controlled

Net Premium Allocation Choices

Global Index Account (GIA)

S&P 500速 Index Account (IA)

Tax-Free Transfers Transfers among Account Options are tax-free. Tax-free transfers help protect your earnings from the erosive effect of taxes, when you decide to move policy value from one account to another.

Basic Interest Account (BIA)

Transfers from the S&P 500速 Index Account or Global Index Account to the other accounts are allowed at the end of the Segment Period. Transfers from the Basic Interest Account to the other accounts are only allowed on the first day of a policy month, which generally does not correspond to the calendar month. S&P 500速 Index Account (IA)

Global Index Account (GIA)

Basic Interest Account (BIA) * Net premiums are equal to gross premiums paid less applicable premium expense charges. 18

WRL Financial Foundation IUL Overview Flexible Premium Payment* Owner Controlled LESS: Premium Expense Charge

Net Premium Allocation Choices

S&P 500® Index Account (IA)

Global Index Account (GIA) Interest

Basic Interest Account (BIA)

Interest

Policy Value

Tax-Deferred Accumulation LESS:

» Index Account Monthly Charge Monthly Deductions:

» Cost of insurance » Monthly expense charges » Monthly policy charges » Additional rider charges Distributions Living Benefits** » Withdrawals » Policy loans » Terminal Illness Accelerated

Death Benefits

Federal income tax-free proceeds paid at death

Early Policy Surrender*** Surrender charges may apply and any gain is taxable

Death Benefit Endorsement

* Subject to certain minimums and maximums. ** Loans, withdrawals and death benefit accelerations will reduce the Policy Value and death benefit. Loans are subject to interest charges. If a policy lapses while a loan is outstanding, adverse tax consequences may result, so please consult with and rely on your tax advisor regarding your particular situation. *** If you surrender your policy, a surrender charge may apply. The surrender charge is a charge for each $1,000 of the initial Face Amount and each increase in Face Amount. The surrender charge applies for the first fifteen policy years and for fifteen years from the date of any Face Amount increase. Charges are based on the Face Amount of the policy and the insured’s issue age, gender and rate class. These charges may be significant and should be carefully considered before surrendering the contract. 19

Understanding Crediting Strategies How the Segment Periods Affect Your Account Options. » Segments are components of the Account Options to which net premiums and/or transfers of Policy Values are allocated.

» The value of an Account Option is the sum of its Segment values and any amount pending application to that Segment.

» There are up to 12 Segments and each Segment begins on a Monthly Policy Date.

» Net Premiums received on dates other than the Monthly Policy Date will be credited with minimum index account interest for the S&P 500® Index Account and the Global Index Account until they are allocated to the next Segment. Net premiums allocated to the Basic Interest Account will always be credited with current interest.

» Each Segment lasts for 12 months (the Segment Period).

Index Account Segment Calculation At the end of each Index Account Segment Period, WRL determines whether any Excess Index Interest (earnings above the guaranteed minimum rate) will be credited for the Segment Period just ended. The amount of Excess Index Interest credited at the end of the Segment Period depends

Segment End Date Index Value

Segment Start Date Index Value

on the value in the Index Account at the beginning of the Segment Period, policy activity and charges during the Segment Period, the minimum interest credited throughout the Segment Period, the applicable Cap, and changes in the applicable Indexes.

Segment Start Date Index Value

Index Change Percentage

Index Account Crediting Strategies Global Index Account (GIA) The Global Index Account credits Excess Interest, if any, based on a weighted average of the index change percentages. The weighted index change percentages are added together and compared to the Cap rate and the floor. To arrive at the weighted index change percentage, we apply the following factors: ® 50% to the percentage® change in the S&P 500 or the

EURO STOXX 50 , whichever is higher

® 30% to the percentage® change in the S&P 500 or the

EURO STOXX 50 , whichever is lower

20% to the percentage change in the Hang Seng Index

S&P 500® Index Account (IA) The interest credited to the S&P 500® Index Account is determined using a formula based on changes in the S&P 500® Index, excluding dividend income.

100% of the percentage change in the S&P 500®

Monthly deductions and Index Account Monthly Charges along with policy owner transactions such as loans or withdrawals will reduce the amount of Excess Index Interest that is credited to a Policy. If you take withdrawals or loans during a Segment Period, no Excess Index Interest is credited on that amount. Excess Index Interest is only credited at the end of a Segment Period. Any Policy Values determined during the Segment Period, including the death benefit or Cash Surrender Value, will be based only on the guaranteed minimum interest credited through the date of the activity. 21

WRL Financial Foundation IULSM Supplemental Information Issue Age

0-85 (0-75 in Florida)

Underwriting Classifications

t 1SFGFSSFE &MJUF o /PO 5PCBDDP t 1SFGFSSFE 1MVT o /PO 5PCBDDP t 1SFGFSSFE o /PO 5PCBDDP t /PO 5PCBDDP

Face Amount Bands

Band 1: $100,000 - 499,999 Band 2: $500,000 +

Death Benefit Options

Level - Face amount Increasing - Face amount plus Policy Value These amounts may be increased to meet IRS guidelines

Policy Value

Your Policy Value is the starting point for calculating important values under the policy, such as the Cash Surrender Value and the death benefit. There is no guaranteed minimum Policy Value. The policy may lapse if you do not have sufficient Policy Value to pay the Monthly Deductions, the Index Account Monthly Charge, the surrender charge and/or any outstanding loan amount and accrued loan interest. The Policy Value is comprised of the value of the Basic Interest Account, the S&P 500ÂŽ Index Account, the Global Index Account and the policy loan reserve.

Cash Surrender Value

If you surrender your policy, the Cash Surrender Value of the policy is equal to the Policy Value less any applicable surrender charges and any loan balance.

Surrender Charge

Age Last Birthday t 1SFGFSSFE 5PCBDDP t 5PCBDDP t +VWFOJMF

Charge

Per $1,000 of the initial Face Amount and of each increase in Face Amount

Period for Charge

The surrender charge applies for the first 15 policy years and for 15 years from the date of any Face Amount increase.

Basis for Charge

Face Amount, Insuredâ&#x20AC;&#x2122;s issue age, gender, and risk class.

These charges may be significant and should be carefully considered before surrendering the contract. A surrender charge may result in the Cash Surrender Value of your policy being zero. As a result, this policy is not intended for short term savings or short term insurance needs. Excess Index Interest is not credited for partial years at the time of surrender on any Index Account Segment.

Premium Expense Charge (as premiums are paid)

Current: Year 1: Years 2-10: Years 11+: Guaranteed:

4% 6% 2% 6% in all years

Certain features, terms and charges associated with this policy may vary by state. 22

Monthly Deductions*

Monthly Deductions are taken from the Policy Value on each Monthly Policy Date. The Monthly Policy Date is the same day of each month as the Policy Date. The Monthly Deduction consists of the cost of insurance, Monthly Policy Fee, Monthly Expense Charge, charges for additional benefits provided by riders and any charges for substandard class ratings. Monthly Deductions will be taken from the Basic Interest Account, the S&P 500® Index Account and Global Index Account in proportion to the values of those accounts on the Monthly Policy Date the deduction is taken. Monthly Deductions will first be taken from the highest numbered Segment and then from the next highest numbered Segment.

Cost of Insurance Charges* (Monthly)

Charge varies based on the Insured’s Age, Underwriting Classification and gender, and the Policy’s Face Amount and duration.

Monthly Policy Fee*

Current $10 Guaranteed Maximum $12 A charge per thousand of the Face Amount of the Base Policy and Additional Insured Rider. This charge varies by gender, tobacco use, age of the Insured and the Face Amount band. Base:

Monthly Expense Charge

On a current basis, the charge applies for ten years from issue and ten years from the date of any Face Amount increase. On a guaranteed basis, the charge applies for ten years from issue or increase date for ages 0-60 and through age 120 for issue ages 61-85 for states other than Florida. In Florida, the guaranteed charge applies through age 120 for all issue ages.

AIR: This charge applies to any Additional Insured Rider for eight years from rider issue date and eight years from the date of any increase in rider face amount.

Index Account Monthly Charge

Withdrawals

0.06% (0.72% annually) of the Index Account Value Taken on the monthly policy date through age 120, from the highest numbered segment first. Minimum - $500 Maximum - Cash Surrender Value minus $500 Charge - Subject to a $25 withdrawal fee Excess Index Interest for a Segment Period will not be credited on amounts taken as withdrawals from an Index Account Segment prior to the end of the Segment Period. Minimum - $500 Maximum - The Policy Value minus the loan balance, minus the loan interest that will accrue prior to the next anniversary, minus the greater of the surrender charge or two Monthly Deductions.

Loans

Availability - After the free look period ends. Excess Index Interest for a Segment Period will not be credited on amounts taken as loans from an Index Account Segment prior to the end of the Segment Period.

* The Company has the right to change current charges and cost of insurance rates. The Company may not charge more than the guaranteed maximum charges or rates. Any changes to charges or rates will be based on our expectations as to future cost factors. Such cost factors may include, but are not limited to, mortality, interest, persistency, expenses, reinsurance costs and state and federal taxes. 23

Important Information Questions If you have questions about the WRL Financial Foundation IUL insurance policy, please ask your agent or call our Customer Service Center at 1-800-851-9777. This is a toll-free number. This brochure is not intended to be a full description of the WRL Financial Foundation IUL insurance policy. Refer to your policy for a complete explanation of the terms. Right to Cancel (Free Look) Within ten days after you receive your policy, if you are not completely satisfied with it for any reason, you may cancel it and receive a refund. For California applicants age 60 years and older, there is a 30-day free look. Some states offer a 20-day free look. Annual Statement It is important to remember that Excess Index Interest is only credited at the end of the Index Account Segment Period. Upon receipt of your first annual statement you may be surprised at the level of the Policy Value. The Policy Value may appear to be low. This is because only Net Premiums received on or before the policy date, and allocated to the first Index Account Segment, may have received any Excess Index Interest. All other Index Account Segments will have only been credited interest at the 0.75% guaranteed minimum interest rate by the end of the first policy year when you receive your first annual statement. Any Excess Index Interest that may be earned on Index Account Segments two through twelve, for their first year, will be credited during the second policy year and will be reflected on your second and ongoing annual statements.

In most states, in the event of suicide during the first two policy years, death benefits are limited to only the return of premiums paid. Western Reserve Life and its agents and representatives do not give tax or legal advice. This material and the concepts presented here are for informational purposes only and should not be construed as tax or legal advice. To comply with IRS Regulations, we are informing you of the following: Any discussion or advice regarding tax issues contained in this document was not intended or written to be used, and cannot be used, to avoid taxpayer penalties. Such discussion or advice was written to support the promotion or marketing of the transaction(s) or matter(s) contained in this document. Anyone reading this document or contemplating a transaction discussed in this material should seek advice based on the clientâ&#x20AC;&#x2122;s particular circumstances from an independent tax advisor. WRL Financial Foundation IUL is an index universal life insurance policy issued by Western Reserve Life Assurance Co. of Ohio, Columbus, Ohio. Policy form and number may vary, and this policy may not be available in all jurisdictions. The Policy is subject to the insurance laws and regulations of the state or jurisdiction in which it is sold. All state specific Policy features will be described in your Policy.

Policy Form # ICC12 IUL06 or IUL06. Form numbers may vary by jurisdiction. Not available in New York.

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