Stag Variable Life Insurance Products Underlying Fund Investment Results

Transcription

1 This information is for use by policyholders of: Stag Accumulator policies issued before 08/01/2003* Stag Protector policies issued before 08/01/2003* Stag Variable Life Last Survivor policies issued before 08/01/2003* Stag Variable Life Last Survivor II policies issued before 08/01/2003* Stag Wall Street policies issued before 08/01/2003* *THESE PRODUCTS ARE NO LONGER FOR SALE This material must be preceded or accompanied by a current policy prospectus. See the policy prospectus for additional information. You should also carefully consider the investment objectives, risks, and charges and expenses of the underlying funds before investing. This and other information can be found in the prospectuses for the underlying funds and appropriate product information, which can be obtained from your financial professional or by logging on to Please read them carefully before you invest or send money. Page 1 of 10; not valid without the others.

2 *These products are no longer for sale. Variable universal life (VUL) is a permanent life insurance policy that combines death benefit protection with the opportunity to accumulate policy value through allocating premium payments and policy value to a separate account and, in some cases, a Fixed Account. The separate account is divided into sub-accounts and each sub-account invests in a corresponding underlying fund. Each underlying fund is professionally managed and has its own risk, fees, and expenses. The sub-accounts and Fixed Account, if available, are often referred to as your Investment Options. Return and Average Annual Return: The return values are net of the total fund operating expenses including fund management fees and 12b-1 fees, if applicable. The following policy charges have not been included: premium based loads, mortality and expense risk charge, cost of insurance, administrative and issue charges, and surrender charges. These charges are different for each of the products in the Hartford Variable Universal Life insurance product portfolio. They vary by age, gender, Face Amount, underwriting class, premiums, policy duration, Account Value, and the ratio of Basic to Supplemental Face Amount (Last Survivor only). These charges are detailed in each product's prospectus and should be reviewed with your registered representative. These charges will have a significant Impact on Policy Account Values and if reflected, performance would be lower. Policy Account Values vary with actual underlying fund performance. The Underlying Funds may have been active before being made available in the products. return includes capital appreciation (depreciation), realized gains (losses), plus dividend or interest income. Results shown are not an indication of future performance. You should obtain a personalized illustration from your sales representative, which includes the impact of a 0% investment performance and guaranteed charges, before you purchase a Hartford Variable Universal Life insurance product. The illustration can be generated based on actual historical fund performance or based on a return assumption you select (subject to a 12% maximum). Past performance is not a guarantee of future results. Performance data quoted represents past performance and investment returns. Current performance may be lower or higher than the performance data quoted. For more current performance information to the most recent month ended, please call (800) if you are a client or (800) if you are a financial professional. The investment return and principal value of an investment will fluctuate so that an investor s shares, when redeemed, may be worth more or less than their original cost. Manager: HL Investment Advisors, LLC (continued on next page) Investment Sub-Advisers: Hartford Investment Management Company, (H) and Wellington Management Company, LLP (W) Aggressive Hartford Capital Appreciation HLS Fund (Class IA) (W) 2,9, % 4/2/ % 7.57% -0.87% 4.71% 17.11% 19.00% 12.50% 15.65% Hartford Global Technology HLS Fund (Class IA) (W) 2,11, % 5/1/ % 14.57% -2.31% 0.39% 12.07% 12.27% N/A -4.96% Hartford Opportunities HLS Fund (Class IA) (W) 8, % 3/24/ % 5.26% -6.52% 5.07% 17.44% 17.74% 9.99% 11.21% Hartford Intl Small Company HLS Fund (Class IA) (W) 2,5, % 4/30/ % 4.71% -0.66% -4.53% 18.44% 20.70% N/A 14.84% Hartford MidCap HLS Fund (Class IA) (W) 4,8 0.68% 7/14/ % 13.69% 2.54% 0.35% 15.02% 16.35% 15.99% 17.17% Hartford Small Company HLS Fund (Class IA) (W) 5,8 0.72% 8/9/ % 8.74% -4.09% -2.73% 15.45% 16.90% 8.94% 10.39% Page 2 of 10; not valid without the others.

3 *These products are no longer for sale. Manager: HL Investment Advisors, LLC (continued) Hartford Global HLS Fund (Class IA) (W)* 2, % 10/1/ % 7.34% -6.30% 7.38% 14.23% 14.81% N/A 11.01% Hartford International Opportunities HLS Fund (Class IA) (W) 2,9 0.75% 7/2/ % 6.82% -2.33% 13.05% 22.10% 21.58% 7.68% 7.95% Hartford Mid Cap Value HLS Fund (Class IA) (W) % 4/30/ % 1.97% -6.98% % 7.45% 12.58% N/A 8.46% Hartford Stock HLS Fund (Class IA) (W) % 8/31/ % 4.84% -5.80% % 7.87% 8.82% 3.51% 11.66% Hartford Value Opportunities HLS Fund (Class IA) (W) 8, % 5/1/ % -0.35% -8.73% % 3.46% 10.26% 5.86% 8.53% and Income Hartford Disciplined Equity HLS Fund (Class IA) (W) % 5/29/ % 4.24% -5.36% -7.58% 7.10% 9.51% 4.99% 4.99% Hartford Dividend and HLS Fund (Class IA) (W) % 3/9/ % 5.10% -1.85% -3.50% 11.12% 12.32% 7.06% 11.78% Hartford Index HLS Fund (Class IA) (H) % 5/1/ % 5.70% -3.91% -6.92% 7.24% 9.38% 3.79% 9.65% Balanced Hartford Advisers HLS Fund (Class IA) (W) 8, % 3/31/ % 2.96% -3.57% -4.68% 6.66% 7.00% 4.25% 9.81% Hartford Global Advisers HLS Fund (Class IA) (W) 2,13, % 3/1/ % 3.41% -3.15% 7.17% 9.58% 9.94% 5.65% 7.67% Income Hartford Mortgage Securities HLS Fund (Class IA) (H) 0.49% 1/1/ % -1.71% -1.40% 0.65% 2.43% 2.77% 4.62% 7.11% Hartford Return Bond HLS Fund (Class IA) (H) 1,2, % 8/31/ % -0.92% 0.31% 3.68% 3.47% 3.66% 5.74% 7.98% Capital Preservation Hartford Money Market HLS Fund (Class IA) (H) % 6/30/ % 0.58% 1.21% 4.10% 4.26% 2.99% 3.46% 6.10% *Formerly known as Hartford Global Leaders HLS Fund Manager: American Funds American Funds Global Fund (Class 2) 2,9, % 4/30/ % 4.86% -2.48% 1.66% 16.22% 16.74% 10.24% 11.44% American Funds Global Small Capitalization Fund (Class 2) 2,5,9, % 4/30/ % 3.31% -4.97% -2.83% 20.88% 24.15% 15.03% 14.29% American Funds Fund (Class 2) 8, % 2/8/ % 5.95% -1.45% -0.36% 11.78% 13.25% 10.46% 14.03% American Funds International Fund (Class 2) 2,9, % 5/1/ % 5.21% -3.60% 3.48% 19.16% 20.90% 9.97% 10.66% American Funds New World Fund (Class 2) 1,2,9, % 6/17/ % 4.08% -1.75% 13.55% 26.94% 25.82% N/A 13.91% and Income American Funds Blue Chip Income & Fund (Class 2) % 7/5/ % 2.46% -5.50% % 6.99% 9.53% N/A 3.50% American Funds -Income Fund (Class 2) 8, % 2/8/ % 5.50% -2.79% -5.88% 8.02% 10.13% 6.92% 12.17% Page 3 of 10; not valid without the others.

4 *These products are no longer for sale. Manager: American Funds (continued) Balanced American Funds Asset Allocation Fund (Class 2) 1,8,12, % 8/1/ % 4.08% -1.47% -3.34% 9.38% 9.84% 5.70% 8.95% Income American Funds Bond Fund (Class 2) 1,2,13, % 1/2/ % 0.45% 0.54% 1.69% 4.07% 4.45% 5.10% 5.62% Manager: Putnam Investment Management, Inc. Aggressive Putnam VT Capital Opportunities Fund (Class IB) 11, % 5/1/ % 8.67% 0.50% % 5.46% 10.66% N/A 11.96% Putnam VT International New Opportunities Fund (Class IA) 2,11, % 1/2/ % 5.79% -3.20% -3.44% 17.92% 18.04% 6.75% 7.27% Putnam VT New Opportunities Fund (Class IA) 11, % 5/2/ % 9.09% -2.55% -5.74% 7.58% 9.74% 2.27% 7.97% Putnam VT OTC & Emerging Fund (Class IA) 9,11,16, % 5/1/ % 5.87% -4.68% -8.10% 10.47% 10.78% -1.55% -2.16% Putnam VT Vista Fund (Class IA) 4,16, % 1/2/ % 10.47% -1.09% -5.52% 7.12% 11.29% 3.67% 6.01% Putnam VT Global Equity Fund (Class IA) 2,4,10, % 5/1/ % 5.37% -4.80% -8.74% 12.39% 13.73% 3.90% 7.51% Putnam VT Health Sciences Fund (Class IA) 16, % 5/1/ % 0.29% -2.76% -9.84% 2.69% 5.86% 3.41% 3.08% Putnam VT International Equity Fund (Class IA) 2,11, % 1/2/ % 7.14% -2.22% -4.57% 16.22% 16.84% 8.02% 10.14% Putnam VT Investors Fund (Class IA) 16, % 5/1/ % 8.38% -5.83% % 3.90% 8.04% 6.84% 1.22% Putnam VT Small Cap Value Fund (Class IB) 5, % 5/1/ % 7.49% -2.25% % 3.46% 12.00% N/A 10.70% Putnam VT Voyager Fund (Class IA) 11, % 2/1/ % 9.39% -3.39% -4.17% 5.28% 6.63% 2.55% 10.33% and Income Putnam VT Equity Income Fund (Class IB) % 5/1/ % 4.68% -2.87% -9.07% 8.17% 10.06% N/A 11.10% Putnam VT Global Asset Allocation Fund (Class IA) 2,12, % 2/1/ % 3.47% -1.49% -4.60% 6.68% 8.62% 3.86% 8.18% Putnam VT and Income Fund (Class IA) % 2/1/ % 2.08% -7.48% % 2.50% 6.79% 3.02% 9.85% Putnam VT International & Income Fund (Class IA) 2,16, % 1/2/ % 7.53% -2.45% -5.69% 16.23% 18.98% 9.20% 9.93% Putnam VT New Value Fund (Class IA) 16, % 1/2/ % 1.29% -9.64% % 2.40% 8.22% 8.39% 7.16% Putnam VT Utilities & Income Fund (Class IA) 16, % 5/1/ % 9.60% -1.55% 3.57% 17.04% 17.41% 6.84% 9.56% Balanced Putnam VT The George Putnam Fund of Boston (Class IA) 16, % 5/3/ % 1.29% -4.03% -8.65% 4.14% 6.13% N/A 4.14% Page 4 of 10; not valid without the others.

5 *These products are no longer for sale Manager: Putnam Investment Management, Inc. (continued) Income Putnam VT Diversified Income Fund (Class IA) 1,16, % 9/15/ % 2.53% -1.32% 0.62% 3.73% 6.17% 4.84% 5.68% Putnam VT High Yield Fund (Class IA) 1, % 2/1/ % 4.81% 2.00% -0.15% 6.59% 8.57% 4.41% 7.91% Putnam VT Income Fund (Class IA) 1,13, % 2/1/ % -0.84% -0.29% 3.71% 3.43% 3.49% 4.80% 6.77% Capital Preservation Putnam VT Money Market Fund (Class IA) 3,16, % 2/1/ % 0.69% 1.38% 4.35% 4.33% 3.02% 3.48% 4.50% Manager: Fidelity Management & Research Company, Inc. Aggressive Fidelity VIP Overseas Portfolio (Initial Class) 2, % 1/28/ % 7.01% -2.62% 1.00% 18.23% 19.94% 6.21% 7.90% Fidelity VIP Contrafund Portfolio (Service Class II) % 1/3/ % 6.71% -4.81% 2.33% 12.61% 14.79% 8.68% 13.33% Fidelity VIP Mid Cap Portfolio (Service Class II) 2,4, % 12/28/ % 5.81% -1.80% 0.91% 14.52% 19.31% N/A 17.59% and Income Fidelity VIP Equity Income Portfolio (Initial Class) % 10/9/ % 4.54% -4.55% % 8.00% 10.45% 5.24% 10.36% Balanced Fidelity VIP II Asset Manager Portfolio (Initial Class) 2, % 10/9/ % 5.57% 2.33% 9.84% 10.03% 8.67% 5.11% 8.60% Manager: A I M Advisors, Inc. AIM V.I. Capital Appreciation Fund (Series I) 2,9, % 5/5/ % 8.86% -5.45% -4.77% 7.90% 9.00% 3.36% 8.35% AIM V.I. Capital Development Fund (Series I) 2,4 1.10% 5/1/ % 5.51% -6.58% % 10.45% 13.10% 7.53% 6.85% AIM V.I. Mid Cap Core Equity Fund (Series I) 2,4 1.06% 9/10/ % 5.32% 0.62% -1.63% 9.60% 11.68% N/A 9.36% AIM V.I. Small Cap Equity Fund (Series I) 2,5 1.29% 8/29/ % 11.10% -0.13% -4.39% 10.85% N/A N/A 11.28% Page 5 of 10; not valid without the others.

6 *These products are no longer for sale. Manager: A I M Advisors, Inc. (continued) and Income AIM V.I. Core Equity Fund (Series I) 2,9 0.91% 5/2/ % 5.36% -0.07% -1.11% 10.45% 10.62% 4.66% 9.23% Manager: Franklin Templeton Investments Franklin Small Cap Value Securities Fund (Class 2) 4,5,8 0.96% 5/1/ % 11.64% 5.44% -8.30% 9.57% 14.89% 8.38% 8.05% Mutual Discovery Securities Fund (Class 2) 2,7, % 11/8/ % 3.07% -3.71% -4.33% 14.31% 16.73% 9.20% 11.02% Templeton Securities Fund (Class 2) 2,9, % 3/15/ % 4.11% -6.54% % 8.64% 12.62% 6.60% 8.87% and Income Mutual Shares Securities Fund (Class 2) 2,7, % 11/8/ % 3.10% -4.61% % 8.59% 10.88% 7.41% 8.96% Income Franklin Income Securities Fund (Class 2) 1,8,10,13, % 1/24/ % 5.01% 0.58% -2.91% 8.22% 10.62% 8.27% 10.02% Templeton Global Income Securities Fund (Class 2) 2,10, % 1/24/ % -1.86% 3.95% 8.99% 9.19% 8.99% 8.39% 7.97% Manager: MFS Investment Management MFS New Discovery Series (Initial Class) 2,9, % 5/1/ % 11.14% 0.11% -6.63% 9.77% 9.48% 7.49% 6.92% and Income MFS Investors Trust Series (Initial Class) 2, % 10/9/ % 6.97% -0.85% 1.17% 10.25% 10.77% 3.26% 8.14% MFS Return Series (Initial Class) 2, % 1/3/ % 2.35% -2.13% -4.60% 5.46% 7.30% 6.06% 9.62% Manager: Oppenheimer Funds, Inc. Oppenheimer Capital Appreciation Fund (Service Shares) 2,4 0.92% 4/3/ % 11.37% -0.94% 2.91% 8.74% 9.73% 5.93% 11.46% Oppenheimer Global Securities Fund (Service Shares) 2,8, % 11/12/ % 6.42% -4.00% -6.62% 11.71% 16.33% 10.41% 11.58% Page 6 of 10; not valid without the others.

7 *These products are no longer for sale. Manager: Oppenheimer Funds, Inc. (continued) and Income Oppenheimer Main Street Fund (Service Shares) 0.91% 7/5/ % 7.46% -3.38% -7.50% 7.23% 8.96% 2.27% 9.20% Manager: Alliance Capital Management, LLC AllianceBernstein VPS International Portfolio (Class B) 2,9 1.48% 7/3/ % 7.43% -0.52% 4.88% 21.59% 23.92% N/A 9.50% AllianceBernstein VPS International Value Portfolio (Class B) 2,9 1.10% 5/10/ % 7.58% -3.27% -6.59% 18.18% 20.86% N/A 15.11% AllianceBernstein VPS Small/Mid Cap Value Portfolio (Class B) 8, % 5/1/ % 8.95% 3.44% -9.33% 9.27% 13.70% N/A 12.13% Manager: Lord, Abbett & Co., LLC and Income Lord Abbett America s Value Portfolio (Class VC) 1,8 1.27% 4/30/ % 5.54% -2.16% -7.10% 6.63% 10.40% N/A 11.30% Lord Abbett and Income Portfolio (Class VC) 0.87% 12/11/ % 3.23% -6.09% -8.54% 6.68% 9.45% 6.43% 11.09% Manager: Van Kampen Asset Management, Inc. Universal Institutional Fund U.S. Mid Cap Value Portfolio (Class II) 4,8 1.36% 1/2/ % 4.41% -4.20% -8.66% 11.83% 14.49% 8.52% 11.39% Van Kampen LIT Comstock Portfolio (Class II) % 4/30/ % 0.85% -5.65% % 4.02% 8.97% N/A 5.57% Page 7 of 10; not valid without the others.

8 PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. UNDERPERFORMANCE OF THE SUB-ACCOUNTS MAY CAUSE THE POLICY TO LAPSE. Variable universal life insurance involves investment risk, including possible loss of principal. Both the investment return and principal value of an investment will fluctuate so that an investor s shares, when redeemed, may be worth more or less than their original cost. Investment Performance: The value of your policy will fluctuate with the performance of the investment options you chose. Your investment options may decline in value, or they may not perform to your expectations. Your policy values in the Sub-Accounts are not guaranteed. Charges and fees may have a significant impact on policy Account Value and the investment performance of the Sub-Accounts (particularly with policies with lower Account Value). A comprehensive discussion of the risks underlying Funds held by each Sub-Account may be found in the Underlying Fund s Prospectus. You should read the prospectus of each Fund before investing. : The column shows the Gross Annual Fund for each underlying Fund. The fees and expenses are expressed as a percentage of average net assets for the year ended December 31, The Gross Annual shown are before management fee waivers or expense caps. Performance information reflects historical or current expense waivers or reimbursements, without which, performance would have been lower. For more information on waivers/reimbursements, please see the prospectus. Each Sub-Account purchases shares of the corresponding underlying Fund at net asset value. The net asset value of an underlying Fund reflects the investment advisory fees, distribution and/or service (12b-1) fees and other expenses of the underlying Fund that are deducted from the assets in the underlying Fund. These underlying Fund expenses may vary from year to year and are more fully described in each underlying Fund s prospectus. Actual fees and expenses for the underlying Fund vary daily. More detail concerning each underlying Fund s fees and expenses is contained in the prospectus for each Fund. Underlying Fund Notes Including Investment Risk Notes: 1 High-yield securities, or junk bonds, are rated lower than investment-grade bonds because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities. 2 Investments in foreign securities may involve different and additional risks associated with foreign currencies, investment disclosure, accounting, securities regulation, commissions, taxes, political or social instability, war or expropriation. 3 An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. 4 Mid cap investing generally involves higher risk and return characteristics than large-company stocks. 5 Small Company investing generally involves higher risk and return characteristics than large-company stocks. 6 Standard & Poor s, S&P, S&P 500, Standard & Poor s, and 500 are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Hartford Life Insurance Company and Hartford Life and Annuity Insurance Company. Investment options are not sponsored, endorsed, sold, or promoted by Standard and Poor s and Standard & Poor s makes no representation regarding the advisability of investing in the Investment Options. 7 Investments in companies involved in mergers, liquidations reorganizations, or distressed bankruptcy, which may involve higher credit and other risks. 8 A portion of the fund may be invested in foreign securities, and subject to associated risks. Please see a prospectus for the current percentage. 9 Emerging markets may involve similar but greater risks than foreign investing due to smaller size and lesser liquidity. 10 A portion of the fund may be invested in emerging markets, and subject to the associated risks. Please see a prospectus for the current percentage. 11 The may invest in small and mid-cap companies. Small company, and to a lesser extent, mid-cap investing involves higher risks than large company investing. 12 Asset Allocation does not assure or guarantee better performance and cannot eliminate the risk of investment loss. This information is for use by policyholders of: Stag Variable Life * Stag Variable Life Artisan* Stag Wall Street Issue before 8/1/2003* *These Products are no longer for sale. Page 8 of 10; not valid without the others.

9 13 The Fund is subject to both credit and interest rate risk. The fund s share price and yield will be affected by interest rate movements, with bond prices generally moving in the opposite direction from interest rates. Credit risk refers to the bond issuer s ability to make timely payments of principal and interest. 14 U.S. Treasury Bonds are backed by the U.S. government and are guaranteed as to the timely payment of principal and interest. This guarantee does not apply to the value of fund shares. 15 The fund offers two classes of fund shares: Class 1 and Class 2. Only Class 2 shares, which have 12b-1 fees, are available within these products. 16 The fund offers two classes of fund shares: Class IA and Class IB. Only Class IA shares are available within these products. 17 The fund offers two classes of fund shares: Class IA and Class IB. Only Class IB shares, which have 12b-1 fees, are available within these products. 18 Closed Investment option was closed to new and subsequent premium payments and transfers of Account Value effective at the close of the New York Stock Exchange on July 31, Here s how they work: Your premiums buy life insurance and the potential growth of cash value. Once applicable sales charges and taxes are deducted, your net premiums are invested in the investment options you choose. are deducted from your policy account values. The performance of the investment options will determine the policy s value. This value must be sufficient to sustain the policy and ensure that the death benefit is funded. Upon your death, your beneficiary will receive the death benefit of your policy (minus any indebtedness). Stag Variable Life is a flexible premium variable life insurance policy. HLI policy form # HL HLA policy form # ILA-1007 and may include state abbreviations. Features may vary by state. Stag Variable Life Artisan is a flexible premium variable life insurance policy. When issued by Hartford Life Insurance Company the non-new York policy form number is HL In New York, the certificate number is, HL-14721(NY). When issued by Hartford Life and Annuity Insurance Company the non-new York policy form number is ILA-1098 and may include state abbreviations. Features may vary by state. Stag Variable Life Last Survivor is a last survivor flexible premium variable life insurance policy. HLI policy form # HL-14623(NY). HLA policy form # ILA-1020 and may include state abbreviations. Features may vary by state. Stag Variable Life Last Survivor II is a last survivor flexible premium variable universal life insurance policy. HLI policy form # HL-15441(98)(NY). HLA policy form # ILA-1151 (98) and may include state abbreviations. Features may vary by state. Stag Protector Variable Universal Life is a flexible premium variable universal life insurance policy. HLI policy form # HL-15471(99)(NY). HLA policy form # LA (99) and may include state abbreviations. Features may vary by state. Stag Accumulator Variable Universal Life is a flexible premium variable universal life insurance policy. HLI policy form # HL-15486(00)(NY). HLA policy form # LA-1158 (00) and may include state abbreviations. Features may vary by state. Stag Wall Street Variable Universal Life is a flexible premium variable universal life insurance policy. HLA policy form LA-1200(02) and may include state abbreviations. Features may vary by state. Available only where approved. This information is for use by policyholders of: Stag Variable Life Artisan* Stag Wall Street Issue before 8/1/2003* *These Products are no longer for sale. Page 9 of 10; not valid without the others.

10 This material must be preceded or accompanied by a current policy prospectus. See the policy prospectus for additional information. You should also carefully consider the investment objectives, risks, and charges and expenses of the underlying funds before investing. This and other information can be found in the prospectuses for the underlying funds and appropriate product information, which can be obtained from your financial professional or by logging on to Please read them carefully before you invest or send money. The Hartford is The Hartford Financial Services Group, Inc. and its subsidiaries, including the issuing companies of Hartford Life Insurance Company (HLI) (New York) and Hartford Life and Annuity Insurance Company (HLA) (Outside New York), Simsbury, CT. The mailing address for both issuers is PO Box 2999, Hartford, CT Variable life insurance products discussed in this material are distributed by Hartford Equity Sales Company, Inc. (HESCO), a broker/dealer affiliate of The Hartford. This information is written in connection with the promotion or marketing of the matter(s) addressed in this material. The information cannot be used or relied upon for the purpose of avoiding IRS penalties. Neither The Hartford, nor its agents or employees, provide tax or legal advice. As with all matters of a tax or legal nature, you should consult your own tax or legal counsel for advice. Variable Universal Life Insurance Products: are not insured by the FDIC; are not insured by any federal agency are not guaranteed by, or obligations or deposits of, any bank or any affiliate, or credit union; and are subject to investment risk, including possible loss of the principal amount invested. LIF Page 10 of 10; not valid without the others.