Whole Life Legacy 10 Pay Basic Life Insurance Illustration

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1 Whole Life Legacy 10 Pay Basic Prepared for: d Client Male, Age 5 Presented by: Michael Fliegelman CLU, ChFC, AEP, RFC Independent Insurance And Financial Consulting 5 Harborfields Ct Greenlawn, NY Agent License Number: LA Telephone Number: May 30, 2013 CRN: Page 1 of 18

2 Illustration Summary Prepared for: Underwriting Class: Client Information d Client, Male, Age 5 Juvenile All face amounts, premiums, riders and underwriting classes are subject to Home Office approval. Issuing Company: Policy: Generic Policy Name: Policy Form Number: Policy Information Massachusetts Mutual Life Insurance Company Limited Payment Whole Life with Premiums Payable for 10 s Whole Life Policy WL-NY-2007 Initial Coverage Information Base Policy Face Amount (BPFA): $974, Initial : $974, Initial Premium Information Premium Payment Mode: Monthly Base Premium: Monthly GIR Premium: Accelerated for Terminal Illness Rider: Transfer of Insured Rider: Monthly $ No Premium Charge No Premium Charge Initial Premium: $1, Initial Dividend Option Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values Important Information 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. Changing the premium payment mode may increase the overall cost of the policy. Please see Premium Payment Options in the Narrative Summary for more information. As illustrated, this policy would not become a Modified Endowment Contract (MEC) under the Internal Revenue Code based on the assumptions in this illustration. Please see the IMPORTANT TAX INFORMATION section of the Narrative Summary for more information. Policy Changes Your Illustration may show Policy Changes, such as face amount decreases, dividend option changes, the Alternate Payment Option (APO) strategy, loans, surrenders or changes to certain Rider premiums. Policy changes are not automatic. You must submit a request to our Home Office. Page 2 of 18

3 Narrative Summary What This Illustration Shows This illustration describes the important features of this MassMutual Whole Life Legacy 10 Pay life insurance policy and shows values over time on a guaranteed and nonguaranteed basis. It is designed to help you understand how this policy works. It is not a projection of how it will perform. The following pages provide a summary (and year-by-year figures) for required premiums, cash surrender values and death benefits, anticipated out-of-pocket premium payments, and other values for this policy. Many of the current values contained in this illustration depend on non-guaranteed dividends. What is Whole Life Legacy 10 Pay? IMPORTANT INFORMATION ABOUT DIVIDENDS Whole Life Legacy 10 Pay is a permanent life insurance policy providing a guaranteed face amount. Premiums are payable for 10 years. The duration of premiums for riders varies according to the terms of the rider. The policy provides for cash value accumulation and for the payment of dividends as may be determined by the Company. As a MassMutual participating policyholder, you are eligible to receive an equitable portion of the Company's earnings, known as "divisible surplus", in the form of policy dividends. The surplus from which dividends are paid comes primarily from three sources: 1. Mortality Savings - The favorable margin between actual death claim experience and the amount expected based on the mortality table used to determine the premium. 2. Investment Earnings - Earnings on Company investments that exceed the guaranteed interest required to build up death benefit reserves and meet contractual obligations. The guaranteed interest rate for a particular policy or rider is set at issue and does not change over the life of the policy. The guaranteed interest rate is reflected in the policy's guaranteed cash value increases. 3. Expenses - The difference between actual expenses incurred and the expenses assumed in determining the premium. This illustration assumes that the dividend option is for all years shown. The annual dividend, if any, is used to buy additional level paid-up life insurance, adding to the policy's death benefit and total cash value. "Paid-up" means that no further premiums are required on the additional life insurance. This additional insurance is also eligible to receive dividends. Paid-up additions may be surrendered for their cash value as long as they are not being used as collateral for policy debt. Non-guaranteed values are based on the 2013 dividend scale. This illustration assumes a policy with an adjustable policy loan interest rate provision. It is important to understand that the payment of dividends is not guaranteed; dividends are a reflection of conditions that affect the Company and the cost of insurance. Dividend performance may, and most likely will, change over time. For this reason we strongly recommend that you look at an illustration showing a lower dividend scale to see the impact that this would have on policy values. This illustration is neither a projection nor an estimate of future results. Transfer of policy ownership to a qualified pension or profit sharing plan could result in different dividends. Page 3 of 18

4 Narrative Summary IMPORTANT TAX INFORMATION As illustrated, this policy would not become a Modified Endowment Contract (MEC) under the Internal Revenue Code based on the assumptions in this illustration. Changes to the policy could cause the policy to become a MEC or change the year that the policy is illustrated to become a MEC. A Modified Endowment Contract (MEC) distinguishes between a policy purchased primarily for death protection and a policy purchased primarily for the tax advantages afforded to life insurance cash values. Once a policy is classified as a MEC, it receives less advantageous federal income tax treatment (see below). To determine if a contract is a MEC, a premium limit (the MEC limit) is established for the maximum amount of premium allowed during the first seven years, based upon rules set by the Internal Revenue Code. Under the MEC test, a MEC results if the cumulative amount paid at any time in the first seven years exceeds the cumulative MEC limit applicable in that policy year. Certain changes to the policy can subject the policy to MEC testing beyond the first seven years or can cause premiums already paid to be re-tested. Taking a policy loan could have adverse tax consequences. If your aggregate policy loans substantially exceed your cost basis, you may incur a significant income tax liability if the policy terminates before the insured's death. You may have to make substantial payments to cover policy premiums and policy loan interest to prevent the termination of the policy and to avoid the potential income tax liability. Some of the indications that such a situation may arise include: (1) high outstanding debt relative to the policy's cash value and (2) lower than illustrated dividends. You can reduce the likelihood that either will incur a significant income tax liability should your policy terminate before the death of the insured, or that you will need to make substantial payments to cover policy premium and pay policy loan interest to keep your policy from terminating, by monitoring and reviewing all aspects of your policy on a regular basis with your tax advisor, your financial representative, and/or any other financial advisor you might have. Surrenders and distributions are subject to income tax to the extent they exceed the policy's cost basis. If the policy is a MEC, distributions and loans are taxable to the extent of gain and are subject to a 10% tax penalty. benefit proceeds from this policy are generally excludable from the beneficiary's gross income for income tax purposes (IRC Section 101(a)(1)). Policy loans on non-mec policies are not treated as distributions or subject to income tax when taken (IRC Section 72). However, if the policy is not held until death, taxes are generally due on surrender or lapse and may in fact exceed the policy's Surrender if prior loans and surrenders were extensive. The information provided above is not written or intended as specific tax advice and may not be relied on for purposes of avoiding any federal tax penalty. Individuals are strongly encouraged to seek advice from their own personal tax or legal counsel. Page 4 of 18

5 Narrative Summary Additional Riders Illustrated Accelerated for Terminal Illness Rider (ABR) Guaranteed Insurability Rider (GIR) of $125,000 Transfer of Insured Rider (TIR) The Accelerated for Terminal Illness Rider allows the policy owner to receive an advance of policy death benefits when MassMutual receives satisfactory proof the insured has a terminal illness expected to result in death within the period set forth in the Rider. The funds may be used for any purpose. This rider terminates upon acceleration. There is no cost for the addition of this rider however there is a fee if the rider is exercised. This rider provides for the right to purchase life insurance without evidence of insurability in limited amounts over time. Premiums for this rider are payable to age 46 or the end of the premium paying period of the policy, if earlier. The Transfer of Insured Rider provides the policyholder with the right to transfer or exchange a new insured in place of the current insured under the policy, provided an insurable interest exists between the owner and the substitute insured, the new insured is not older than age 75 and evidence of insurability is provided. There is no annual premium for this rider however there is a cost due if the rider is exercised. Interest Adjusted Cost (IAC) Comparison Index Life Insurance Surrender Cost Index Life Insurance Payment Cost Index 10 $2.12 $10.30 Policy 20 $0.77 $5.10 The Interest Adjusted Cost Comparison Indices provide two means of comparing the relative cost of similar plans of insurance issued by the same company or by different companies. A low index number represents a lower cost than a higher one. These indices reflect the time value of money by applying a 5% interest factor to policy premiums, dividends, and for the surrender cost index, the 10 and 20 year cash values. The dividends used in calculating these indices are based on the current year's scale and are neither guarantees nor estimates of future dividends. The indices do not consider: (1) the value of the services of an agent or company; (2) the relative strength and reputation of the Company and its actual dividend performance; or (3) differences in the policy provisions. Additional Information About This Illustration The fully allocated expense method is used to allocate overhead expenses for all illustrations. This illustration, using a 5.00% policy loan interest rate, is for a policy issued in New York on May, This rate may change on each policy anniversary date. A higher policy loan interest rate can impact policy values and the amounts available for future loans. For this reason, we strongly recommend that you look at a hypothetical higher loan interest rate available upon request. This illustration assumes no further loans after policy year 116. It also assumes payment of interest when due. In any year that loan interest due is borrowed, it is assumed that the individual pays the interest in full and, in a separate transaction, borrows the after-tax cost of the interest (if possible) from the cash surrender value. Page 5 of 18

6 Narrative Summary Outlay is based on a tax bracket of 28%. This illustration does not recognize the time value of money and should not be used to compare policy costs. See IAC section of the Narrative Summary page for policy cost information. Column Heading Definitions Age Dividend Loan Outlay Outlay Basic Policy of Contract Premium Guaranteed Guaranteed The age of the insured at the end of the policy year. The total amount of annual dividend payable. These values are based on the illustrated dividend scale and are not guaranteed. The amount of loan taken minus loan repayments made at the beginning of the policy year. This includes any amount of unpaid interest. This is the out-of-pocket cost, which is comprised of the Contract Premium and adjusted for any dividends,, cash value released, loans taken, loan repayments made or taxes due at the beginning of the policy year. The annual outlay at the beginning of the policy year. This is the out-of-pocket cost, which is comprised of the Contract Premium adjusted for any dividends, surrendered, cash value released, loans taken and loan repayments made. The guaranteed cash value of the base policy as of the end of the policy year. This does not include the cash value from (PUA) or any other policy riders. The total cash value as of the end of the policy year of the purchased by dividends earned on the base policy. These values are based on the illustrated dividend scale and are not guaranteed. The gross premium that is required to be paid at the beginning of the policy year for the benefits The cash value which is guaranteed under this policy based upon the illustrated Contract Premium for Guaranteed s as of the end of the policy year. The amount of death benefit which is guaranteed to be payable for this policy at death based upon the illustrated Contract Premium for Guaranteed s as of the end of the policy year. The cash value as of the end of the policy year reduced by outstanding loans and loan interest. These values are based on the illustrated dividend scale and are not guaranteed. The death benefit of the policy as of the end of the policy year reduced by outstanding loans and loan interest. These values are based on the illustrated dividend scale and are not guaranteed. The additional paid-up insurance death benefit as of the end of the policy year purchased by dividends earned on the base policy. These values are based on the illustrated dividend scale and are not guaranteed. Page 6 of 18

7 Narrative Summary of Outstanding Loan Insurance The total cash value as of the end of the policy year including all guaranteed and nonguaranteed values. These values are based on the illustrated dividend scale and are not guaranteed. The total cash value as of the end of the policy year of the purchased by dividends. These values are based on the illustrated dividend scale and are not guaranteed. This is the amount that would be payable if death occurred at the end of the policy year. These values are based on the illustrated dividend scale and are not guaranteed. The loan principal as of the end of the policy year including any prior year capitalized loan interest. The death benefit at the end of the policy year of additional paid-up insurance purchased with dividends. These values are based on the illustrated dividend scale and are not guaranteed. The amount of fully paid-up insurance that could be purchased if the policy were converted to a fully paid-up policy as of the end of the policy year. These values are based on the illustrated dividend scale and are not guaranteed. The number of years the policy is assumed to have been in force at the end of the policy year. Key Terms Used in the Illustration Midpoint Assumptions Attained Age The first day of the policy year. All premium payments and other outlays are assumed to be made at the beginning of the year. The last day of the policy year. Dividends are assumed to be credited on this date. All cash values are shown as of the end of the policy year. The amount payable upon death of the insured. s are calculated assuming that the dividends are reduced by 50% and any policy charges included are an average between the current and guaranteed charges. Issue age plus policy duration years. Page 7 of 18

8 Narrative Summary Premium Payment Options: You may pay premiums once a year (annually), twice a year (semiannually), four times a year (quarterly) or twelve times a year (monthly). You may pay premiums twelve times a year (monthly) only by pre-authorized electronic transfer. If you pay annual premiums by installments, there will be an additional charge. The additional charge is shown in dollars and as annual percentage rates in the table below. Premium Frequency Premium Payment (Including Installment Payment Charge) Number of Payments Per Premium Per Additional Charge (In Dollars) Additional Charge (As the Percentage Rate or APR) $11, $11, $ Semiannual $5, $11, $ % Quarterly $2, $11, $ % Monthly $1, $12, $ % Consider Additional Coverage In some cases, the cost per unit of the Whole Life Legacy 10 Pay policy may be lower with a higher Base Policy Face Amount. You should consult with your agent about whether applying for more coverage is appropriate. Additional underwriting requirements may apply to larger face amounts, and premiums may be higher. Page 8 of 18

9 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Numeric Summary and Signature Page Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values To help you understand how changes in non-guaranteed dividends may affect your future policy values, this Numeric Summary and Signature Page shows how your policy would perform based on each of the following dividend scenarios: 1) Guaranteed: The guaranteed policy values, i.e., zero dividends. 2) Non-Guaranteed Midpoint: 50% of the Company's currently illustrated dividend. 3) Non-Guaranteed Current: The Company's currently illustrated dividend. Non-Guarant eed s Guaranteed s Midpoint Assumptions Current Assumptions Contract Premium 5 12,000 42, ,219 44, ,641 45,748 1,009, , , , ,272 1,058, ,949 1,147, , , ,957 1,211, ,287 1,500,616 Age , ,219 1,422,791 2,306,655 3,267,647 5,297,570 I have received a copy of this illustration and understand that any non-guaranteed elements illustrated are subject to significant fluctuations and could be either higher or lower. The agent has told me they are not guaranteed. I understand that this illustration is not a contract. I also understand that any policy changes reflected in this illustration are not automatic, but must be submitted in writing to the Home Office. The terms of the policy constitute the actual agreement of coverage. I further understand I have the right to request a hypothetical lower scale illustration to see the potential impact of a lower dividend interest rate on my policy values. I have read and understand the IMPORTANT TAX INFORMATION section in the Narrative Summary. Applicant (At time of application) Owner (At time of delivery) 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 this illustration. Agent Date Page 9 of 18

10 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Tabular s Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values ====Non-Guaranteed s==== Age End Contract Premium Guaranteed _ Guaranteed Dividend of Insurance ,000 3, , , ,219 47, ,000 10, , ,619 4, , , ,000 20, , ,028 21,623 12, , , ,000 31, , ,960 33,330 22, , , ,000 42, ,219 1,151 3,184 45,748 35,334 1,009, , ,000 54, ,219 1,649 4,954 59,169 52,973 1,027, , ,000 66, ,219 2,202 7,341 73,646 75,677 1,049, , ,000 78, ,219 2,802 10,413 89, ,531 1,077, , ,000 91, ,219 3,409 14, , ,234 1,110,453 1,016, , , ,219 4,031 18, , ,561 1,147,780 1,147, , ,219 3,493 22, , ,820 1,179, , ,219 3,678 27, , ,651 1,210, , ,219 3,966 32, , ,867 1,244, , ,219 4,252 37, , ,344 1,278, , ,219 4,463 43, , ,374 1,313, , ,219 4,693 49, , ,038 1,349, , ,219 4,945 55, , ,404 1,385, , ,219 5,243 63, , ,717 1,422, , ,219 5,552 70, , ,948 1,461, , ,219 5,922 79, , ,397 1,500, , ,219 6,303 88, , ,009 1,541, , ,219 6,762 97, , ,150 1,583, , ,219 7, , , ,941 1,627, , ,219 7, , , ,940 1,672, , ,219 8, , , ,869 1,718,088 Current Premiums Coverage Face Amount ly Semi-ly Quarterly Monthly Base Policy Insurance 974,219 11, , , Guaranteed Insurability Rider 125, Non-guaranteed values include dividends which are neither estimates nor guarantees, but are based on the 2013 dividend scale. The dividend scale is reviewed annually and it is likely that dividends in future years will be lower or higher depending on the Company's actual experience. For this reason, we strongly recommend that you look at a hypothetical lower scale illustration available upon request. Refer to the Narrative Summary for assumptions, explanations and additional information. Page 10 of 18

11 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Tabular s Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values ====Non-Guaranteed s==== Age End Contract Premium Guaranteed _ Guaranteed Dividend of Insurance , ,219 8, , , ,758 1,764, , ,219 9, , , ,685 1,812, , ,219 9, , , ,625 1,861, , ,219 10, , , ,855 1,912, , ,219 10, , , ,252 1,963, , ,219 11, , ,931 1,041,963 2,016, , ,219 12, , ,714 1,096,137 2,070, , ,219 12, , ,221 1,151,658 2,125, , ,219 13, , ,565 1,208,762 2,182, , ,219 14, , ,856 1,267,554 2,241, , ,219 15, , ,201 1,328,021 2,302, , ,219 16, , ,709 1,390,304 2,364, , ,219 17, , ,500 1,454,573 2,428, , ,219 19, , ,738 1,520,953 2,495, , ,219 20, , ,469 1,589,564 2,563, , ,219 21, , ,883 1,660,578 2,634, , ,219 23, , ,108 1,733,851 2,708, , ,219 24, , ,319 1,809,448 2,783, , ,219 26, , ,684 1,886,799 2,861, , ,219 27, ,579 1,028,322 1,965,859 2,940, , ,219 29, ,563 1,091,529 2,047,064 3,021, , ,219 31, ,926 1,158,407 2,130,598 3,104, , ,219 33, ,957 1,229,217 2,216,977 3,191, , ,219 35, ,857 1,304,138 2,306,384 3,280, , ,219 38, ,919 1,383,427 2,399,334 3,373, , ,219 40,981 1,055,395 1,467,285 2,496,263 3,470, , ,219 43,960 1,131,557 1,556,014 2,597,160 3,571, , ,219 47,155 1,212,631 1,649,812 2,702,241 3,676, , ,219 50,033 1,298,711 1,748,888 2,810,516 3,784, , ,219 53,239 1,390,145 1,853,561 2,922,437 3,896,656 Non-guaranteed values include dividends which are neither estimates nor guarantees, but are based on the 2013 dividend scale. The dividend scale is reviewed annually and it is likely that dividends in future years will be lower or higher depending on the Company's actual experience. For this reason, we strongly recommend that you look at a hypothetical lower scale illustration available upon request. Refer to the Narrative Summary for assumptions, explanations and additional information. Page 11 of 18

12 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Tabular s Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values ====Non-Guaranteed s==== Age End Contract Premium Guaranteed _ Guaranteed Dividend of Insurance , ,219 56,696 1,487,171 1,964,031 3,038,266 4,012, , ,219 60,593 1,590,086 2,080,518 3,158,631 4,132, , ,219 65,052 1,699,296 2,203,347 3,284,361 4,258, , ,219 69,892 1,815,136 2,332,816 3,415,890 4,390, , ,219 74,904 1,937,965 2,469,314 3,553,226 4,527, , ,219 80,111 2,068,035 2,613,081 3,696,417 4,670, , ,219 85,348 2,205,613 2,764,425 3,845,212 4,819, , ,219 90,541 2,351,026 2,923,740 3,999,228 4,973, , ,219 96,070 2,504,645 3,091,378 4,158,743 5,132, , , ,534 2,666,730 3,267,647 4,323,351 5,297, , , ,707 2,837,860 3,453,070 4,493,912 5,468, , , ,138 3,018,239 3,647,809 4,670,534 5,644, , , ,086 3,208,515 3,852,308 4,855,281 5,829, , , ,125 3,409,090 4,067,019 5,047,961 6,022, , , ,340 3,620,322 4,292,319 5,248,518 6,222, , , ,886 3,842,577 4,528,564 5,457,121 6,431, , , ,956 4,074,407 4,774,295 5,671,422 6,645, , , ,456 4,315,887 5,029,522 5,891,835 6,866, , , ,612 4,566,983 5,294,091 6,119,090 7,093, , , ,399 4,827,683 5,567,895 6,353,887 7,328, , , ,158 5,097,887 5,850,831 6,596,047 7,570, , , ,871 5,377,802 6,143,012 6,846,691 7,820, , , ,031 5,667,294 6,444,380 7,104,989 8,079, , , ,366 5,966,499 6,755,081 7,371,054 8,345, , , ,678 6,275,207 7,074,895 7,644,767 8,618, , , ,335 6,596,946 7,407,263 7,931,310 8,905, , , ,091 6,932,127 7,752,526 8,231,854 9,206, , , ,703 7,275,255 8,105,172 8,540,234 9,514, , , ,819 7,625,558 8,464,429 8,855,910 9,830, , , ,547 7,982,531 8,829,810 9,178,488 10,152,707 Non-guaranteed values include dividends which are neither estimates nor guarantees, but are based on the 2013 dividend scale. The dividend scale is reviewed annually and it is likely that dividends in future years will be lower or higher depending on the Company's actual experience. For this reason, we strongly recommend that you look at a hypothetical lower scale illustration available upon request. Refer to the Narrative Summary for assumptions, explanations and additional information. Page 12 of 18

13 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Tabular s Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values ====Non-Guaranteed s==== Age End Contract Premium Guaranteed _ Guaranteed Dividend of Insurance , , ,614 8,345,766 9,200,965 9,507,269 10,481, , , ,765 8,716,399 9,579,372 9,840,033 10,814, , , ,437 9,095,163 9,965,890 10,176,178 11,150, , , ,448 9,483,547 10,362,215 10,514,843 11,489, , , ,363 9,884,548 10,771,614 10,855,699 11,829, , , ,777 10,303,106 11,199,485 11,197,811 12,172, , , ,666 10,753,002 11,660,711 11,540,899 12,515, , , ,585 11,250,316 12,172,775 11,881,584 12,855, , , ,929 11,823,135 12,766,247 12,213,099 13,187, , , ,701 12,524,800 13,499,019 12,524,800 13,499, , , ,589 13,394,389 14,368,608 13,394,389 14,368, , , ,416 14,319,805 15,294,024 14,319,805 15,294, , , ,828 15,304,633 16,278,852 15,304,633 16,278, , ,219 1,048,054 16,352,687 17,326,906 16,352,687 17,326, , ,219 1,115,339 17,468,026 18,442,245 17,468,026 18,442, , ,219 1,186,944 18,654,970 19,629,189 18,654,970 19,629, , ,219 1,263,146 19,918,115 20,892,334 19,918,115 20,892, , ,219 1,344,239 21,262,355 22,236,574 21,262,355 22,236, , ,219 1,430,540 22,692,894 23,667,113 22,692,894 23,667, , ,219 1,522,380 24,215,274 25,189,493 24,215,274 25,189, , ,219 1,620,117 25,835,392 26,809,611 25,835,392 26,809, , ,219 1,724,129 27,559,520 28,533,739 27,559,520 28,533, , ,219 1,834,818 29,394,338 30,368,557 29,394,338 30,368, , ,219 1,952,613 31,346,951 32,321,170 31,346,951 32,321, , ,219 2,077,971 33,424,922 34,399,141 33,424,922 34,399, , ,219 2,211,376 35,636,298 36,610,517 35,636,298 36,610, , ,219 2,353,347 37,989,645 38,963,864 37,989,645 38,963, , ,219 2,504,432 40,494,077 41,468,296 40,494,077 41,468, , ,219 2,665,216 43,159,293 44,133,512 43,159,293 44,133, , ,219 2,836,323 45,995,616 46,969,835 45,995,616 46,969, , ,219 3,018,415 49,014,031 49,988,250 49,014,031 49,988,250 Non-guaranteed values include dividends which are neither estimates nor guarantees, but are based on the 2013 dividend scale. The dividend scale is reviewed annually and it is likely that dividends in future years will be lower or higher depending on the Company's actual experience. For this reason, we strongly recommend that you look at a hypothetical lower scale illustration available upon request. Refer to the Narrative Summary for assumptions, explanations and additional information. Page 13 of 18

14 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Supplemental s Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values ====Non-Guaranteed s==== Age End Outlay Loan Outlay Dividend Basic Policy _ of _ Outstanding Loan , , , , , , , , ,619 4, , , , ,595 1, ,623 12, , , , ,370 1, ,330 22, , , ,000 1,151 42,564 3, ,748 35,334 1,009, , ,000 1,649 54,215 4, ,169 52,973 1,027, , ,000 2,202 66,305 7, ,646 75,677 1,049, , ,000 2,802 78,824 10, , ,531 1,077, , ,000 3,409 91,791 14, , ,234 1,110, , ,000 4, ,206 18, , ,561 1,147, , ,869 22, , ,820 1,179, , ,581 27, , ,651 1,210, , ,312 32, , ,867 1,244, , ,150 37, , ,344 1,278, , ,106 43, , ,374 1,313, , ,197 49, , ,038 1,349, , ,465 55, , ,404 1,385, ,500 18,500-18,500 5, ,888 63,049 18, , ,717 1,403, ,500 19,425-18,500 5, ,486 70,719 37, , ,948 1,421, ,500 20,396-18,500 5, ,260 79,028 58, , ,397 1,439, ,500 21,416-18,500 6, ,209 88,005 79, , ,009 1,457, ,500 22,487-18,500 6, ,323 97, , , ,150 1,476, ,500 23,611-18,500 7, , , , , ,941 1,495, ,500 24,792-18,500 7, , , , , ,940 1,514, ,500 26,031-18,500 8, , , , , ,869 1,532,597 Current Premiums Coverage Face Amount ly Semi-ly Quarterly Monthly Base Policy Insurance 974,219 11, , , Guaranteed Insurability Rider 125, These illustrated amounts are not guaranteed. They include dividends, which are neither estimates nor guarantees, but are based on the 2013 dividend scale. The dividend scale is reviewed annually and it is likely that dividends in future years will be lower or higher depending on the Company's actual experience. For this reason, we strongly recommend that you look at a hypothetical lower scale illustration available upon request. Refer to the Narrative Summary for assumptions, explanations and additional information. This illustration is not valid unless accompanied by or preceded by a Basic Illustration dated 05/30/2013. Refer to the Basic Illustration for guaranteed elements and other important information. Page 14 of 18

15 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Supplemental s Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values ====Non-Guaranteed s==== Age End Outlay Loan Outlay Dividend Basic Policy _ of _ Outstanding Loan ,500 27,333-18,500 8, , , , , ,758 1,550, ,500 28,700-18,500 9, , , , , ,685 1,568, ,500 30,135-18,500 9, , , ,826 90, ,625 1,585, ,500 31,641-18,500 10, , , ,467 80, ,855 1,602, ,500 33,223-18,500 10, , , ,690 69, ,252 1,619, ,500 34,885-18,500 11, , , ,575 59,227 1,041,963 1,635, ,500 36,629-18,500 12, , , ,203 48,551 1,096,137 1,651, ,500 38,460-18,500 12, , , ,664 37,675 1,151,658 1,666, , , , , ,547 46,041 1,208,762 1,700, , , , , ,524 55,205 1,267,554 1,735, , , , , ,650 65,218 1,328,021 1,770, , , , , ,983 76,127 1,390,304 1,805, , , , , ,582 87,989 1,454,573 1,842, , , , , , ,901 1,520,953 1,879, , , , , , ,841 1,589,564 1,917, , , , , , ,923 1,660,578 1,955, , , , , , ,200 1,733,851 1,995, , , , , , ,766 1,809,448 2,035, , , , , , ,703 1,886,799 2,075, , , , , , ,042 1,965,859 2,114, , , , , , ,985 2,047,064 2,154, , , , , , ,536 2,130,598 2,194, , , , , , ,852 2,216,977 2,235, , , , , , ,005 2,306,384 2,277, , , , ,919 1,003, ,137 2,399,334 2,320, , , ,890 1,055,395 1,053, ,331 2,496,263 2,364, , , ,457 1,131,557 1,105, ,762 2,597,160 2,410, , , ,181 1,212,631 1,161, ,497 2,702,241 2,457, , , ,177 1,298,711 1,219, ,608 2,810,516 2,504, , , ,416 1,390,145 1,280, ,267 2,922,437 2,552,362 These illustrated amounts are not guaranteed. They include dividends, which are neither estimates nor guarantees, but are based on the 2013 dividend scale. The dividend scale is reviewed annually and it is likely that dividends in future years will be lower or higher depending on the Company's actual experience. For this reason, we strongly recommend that you look at a hypothetical lower scale illustration available upon request. Refer to the Narrative Summary for assumptions, explanations and additional information. This illustration is not valid unless accompanied by or preceded by a Basic Illustration dated 05/30/2013. Refer to the Basic Illustration for guaranteed elements and other important information. Page 15 of 18

16 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Supplemental s Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values ====Non-Guaranteed s==== Age End Outlay Loan Outlay Dividend Basic Policy _ of _ Outstanding Loan , , ,861 1,487,171 1,344, ,522 3,038,266 2,600, , , ,432 1,590,086 1,411, ,434 3,158,631 2,650, , , ,051 1,699,296 1,482, ,158 3,284,361 2,702, , , ,680 1,815,136 1,556, ,818 3,415,890 2,756, , ,318-43,509 74, ,349 1,937,965 1,677, ,932 3,553,226 2,766, , ,384-43,509 80, ,046 2,068,035 1,804, ,946 3,696,417 2,775, , ,753-43,509 85, ,812 2,205,613 1,938, ,850 3,845,212 2,783, , ,441-43,509 90, ,714 2,351,026 2,079, ,702 3,999,228 2,790, , ,463-43,509 96, ,733 2,504,645 2,226, ,503 4,158,743 2,795, , ,836-43, , ,918 2,666,730 2,381, ,195 4,323,351 2,797, , ,578-43, , ,210 2,837,860 2,543, ,911 4,493,912 2,796, , ,707-43, , ,570 3,018,239 2,714, ,408 4,670,534 2,794, , ,242-43, , ,793 3,208,515 2,893, ,703 4,855,281 2,790, , ,204-43, , ,929 3,409,090 3,082, ,800 5,047,961 2,785, , ,614-43, , ,997 3,620,322 3,279, ,605 5,248,518 2,779, , ,495-43, , ,987 3,842,577 3,487, ,980 5,457,121 2,769, , ,870-43, , ,889 4,074,407 3,705, ,948 5,671,422 2,755, , ,763-43, , ,635 4,315,887 3,933, ,973 5,891,835 2,735, , ,201-43, , ,108 4,566,983 4,174, ,331 6,119,090 2,710, , ,211-43, , ,212 4,827,683 4,426, ,313 6,353,887 2,680, , ,822-43, , ,945 5,097,887 4,691, ,187 6,596,047 2,644, , ,063-43, , ,210 5,377,802 4,969, ,401 6,846,691 2,603, , ,966-43, , ,086 5,667,294 5,261, ,205 7,104,989 2,555, , ,565-43, , ,582 5,966,499 5,567, ,013 7,371,054 2,499, , ,893-43, , ,688 6,275,207 5,889, ,839 7,644,767 2,434, , , ,316 6,596,946 6,184, ,004 7,931,310 2,412, , , ,400 6,932,127 6,493, ,605 8,231,854 2,388, , , ,918 7,275,255 6,817, ,355 8,540,234 2,355, , , ,871 7,625,558 7,158, ,670 8,855,910 2,313, , , ,278 7,982,531 7,516, ,213 9,178,488 2,260,111 These illustrated amounts are not guaranteed. They include dividends, which are neither estimates nor guarantees, but are based on the 2013 dividend scale. The dividend scale is reviewed annually and it is likely that dividends in future years will be lower or higher depending on the Company's actual experience. For this reason, we strongly recommend that you look at a hypothetical lower scale illustration available upon request. Refer to the Narrative Summary for assumptions, explanations and additional information. This illustration is not valid unless accompanied by or preceded by a Basic Illustration dated 05/30/2013. Refer to the Basic Illustration for guaranteed elements and other important information. Page 16 of 18

17 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Supplemental s Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values ====Non-Guaranteed s==== Age End Outlay Loan Outlay Dividend Basic Policy _ of _ Outstanding Loan , , ,199 8,345,766 7,892, ,739 9,507,269 2,194, , , ,973 8,716,399 8,287, ,784 9,840,033 2,112, , , ,728 9,095,163 8,701, ,223 10,176,178 2,013, , , ,668 9,483,547 9,136, ,714 10,514,843 1,895, , , ,065 9,884,548 9,593, ,438 10,855,699 1,756, , , ,379 10,303,106 10,073, ,651 11,197,811 1,595, , , ,709 10,753,002 10,576, ,035 11,540,899 1,409, , , ,459 11,250,316 11,105, ,815 11,881,584 1,194, , , ,112 11,823,135 11,660, ,239 12,213, , , , ,219 12,524,800 12,244, ,811 12,524, , , , ,219 13,394,389 12,856, ,589 13,394, , , , ,219 14,319,805 13,499,019 1,120,054 14,319,805 1,120, , , ,219 15,304,633 14,173,969 1,396,184 15,304,633 1,396, , ,048, ,219 16,352,687 14,882,668 1,700,104 16,352,687 1,700, , ,115, ,219 17,468,026 15,626,801 2,034,103 17,468,026 2,034, , ,186, ,219 18,654,970 16,408,141 2,400,640 18,654,970 2,400, , ,263, ,219 19,918,115 17,228,548 2,802,358 19,918,115 2,802, , ,344, ,219 21,262,355 18,089,976 3,242,099 21,262,355 3,242, , ,430, ,219 22,692,894 18,994,475 3,722,915 22,692,894 3,722, , ,522, ,219 24,215,274 19,944,198 4,248,085 24,215,274 4,248, , ,620, ,219 25,835,392 20,941,408 4,821,132 25,835,392 4,821, ,047, ,724, ,219 27,559,520 21,988,479 5,445,837 27,559,520 5,445, ,099, ,834, ,219 29,394,338 23,087,903 6,126,259 29,394,338 6,126, ,154, ,952, ,219 31,346,951 24,242,298 6,866,757 31,346,951 6,866, ,212, ,077, ,219 33,424,922 25,454,413 7,672,007 33,424,922 7,672, ,272, ,211, ,219 35,636,298 26,727,133 8,547,027 35,636,298 8,547, ,336, ,353, ,219 37,989,645 28,063,490 9,497,199 37,989,645 9,497, ,403, ,504, ,219 40,494,077 29,466,665 10,528,298 40,494,077 10,528, ,473, ,665, ,219 43,159,293 30,939,998 11,646,514 43,159,293 11,646, ,547, ,836, ,219 45,995,616 32,486,998 12,858,487 45,995,616 12,858,487 These illustrated amounts are not guaranteed. They include dividends, which are neither estimates nor guarantees, but are based on the 2013 dividend scale. The dividend scale is reviewed annually and it is likely that dividends in future years will be lower or higher depending on the Company's actual experience. For this reason, we strongly recommend that you look at a hypothetical lower scale illustration available upon request. Refer to the Narrative Summary for assumptions, explanations and additional information. This illustration is not valid unless accompanied by or preceded by a Basic Illustration dated 05/30/2013. Refer to the Basic Illustration for guaranteed elements and other important information. Page 17 of 18

18 Policy: Limited Payment Whole Life with Premiums Payable for 10 s Base Policy Face Amount: $974,219 Riders: ABR GIR TIR Monthly Premium: $1, Supplemental s Dividend Option: Dividends used to purchase. Dividends are not guaranteed and are subject to significant fluctuations over the lifetime of the policy. Changes in dividends will change all Non-Guaranteed values ====Non-Guaranteed s==== Age End Outlay Loan Outlay Dividend Basic Policy _ of _ Outstanding Loan ,624, ,018, ,219 49,014,031 34,111,348 14,171,335 49,014,031 14,171,335 These illustrated amounts are not guaranteed. They include dividends, which are neither estimates nor guarantees, but are based on the 2013 dividend scale. The dividend scale is reviewed annually and it is likely that dividends in future years will be lower or higher depending on the Company's actual experience. For this reason, we strongly recommend that you look at a hypothetical lower scale illustration available upon request. Refer to the Narrative Summary for assumptions, explanations and additional information. This illustration is not valid unless accompanied by or preceded by a Basic Illustration dated 05/30/2013. Refer to the Basic Illustration for guaranteed elements and other important information. Page 18 of 18

19 Client Input Summary Company: MassMutual Designs - Life Product: Leg 10 WL Case: College Plan $1000mo May 30, , Client #1 Insured First Name d Last Name Client Sex Male Date of Birth Issue Age 5 Class Non-Tobacco Table Rating None Temp. Table Rating Temp. Table Rating Period Temp. Flat Extra Perm. Flat Extra Tax Bracket Percent 01 to Contract State New York Design Design Base Premium Mode Monthly Known Initial Premium Initial Modal Premium Amount 1000 Dividend Option 01 to Paid Up Loan Rate Adjustable Illustrate APO No Illustrate Flexible Outlay No 1035 Exchange No Options Product Type Dividend Rate Policy Owner Owner Age Reduced Paid Up Non-Qualified Current Individual Riders Waiver of Premium [WP] No Renewable Term Rider [RTR] No Guaranteed Insurability Rider [GIR] Yes GIR Amount Page 1 of 2

20 Client Input Summary Company: MassMutual Designs - Life Product: Leg 10 WL Case: College Plan $1000mo May 30, , Client #1 Riders - Cont'd Include GIR in Additional Life Ins. Rider [ALIR] - Scheduled Additional Life Ins. Rider [ALIR] - Unscheduled Long Term Care Access Rider [LTCR] Premium No No No Disbursements Disbursements Yes Disbursement Option Loans Disbursements 18 to to 80 - Solve for Max 81 to Loan Interest Option Borrow from Policy Repay Loans No Reports Reports No Agent Info Agent First Name Michael Agent Last Name Fliegelman CLU, ChFC, AEP, RFC Agent Company Independent Insurance And Financial Consulting Agent Address1 5 Harborfields Ct Agent Address2 Agent City Greenlawn Agent State New York Agent Zip Code Agent Phone Number (631) Agent Agent License Number LA Agent Health License LTCR Pre-sale Training Completed MMLISI Registered Yes Bank Sale No Comments: Page 2 of 2

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