Accelerator CLIENT GUIDE SINGLE PREMIUM DEFERRED ANNUITY CL (08/16)

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1 Accelerator SINGLE PREMIUM DEFERRED ANNUITY CLIENT GUIDE CL (08/16)

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3 Accelerator SINGLE PREMIUM DEFERRED ANNUITY Do you wish to minimize risk, but maximize growth? Are taxes taking a big bite out of your returns? Tired of renewal rates that always seem to go down? Accelerate the pace to meet your financial goals with potentially higher returns. Columbus Life Insurance Company s Accelerator Annuity, a single-premium deferred annuity guarantees that the tax deferred interest rates you earn during each five-year guarantee period will step up and up and up! Behind Accelerator s Growth: The Power of Tax Deferral Among the most important advantages Accelerator offers is tax deferred growth, which allows you to accumulate interest without current taxes. This means that assuming no partial withdrawals, your original principal earns interest, your interest earns interest and the money you would have otherwise paid in taxes earns interest. Tax deferral allows you to accumulate a greater amount of money. Since taxes are not paid on interest until it is withdrawn, you control when you pay taxes. Lock-in Interest Rate Increase Guaranteed by Columbus Life Accelerator starts your money growing at a current rate in year one. Then, regardless of any stock market gyrations or fixed-interest slides that may occur, it boosts that initial rate by 0.15% each year for the next four years. That s five years, four interest rate step-ups, guaranteed by Columbus Life. The year-five interest rate will be 0.60% higher than the year-one rate. At renewal in year six, an optional second five-year guarantee period begins. At the end of the first five-year guarantee period you will be notified of the interest rate applicable to the second five-year guarantee period. An initial interest rate is set, followed by 0.15% annual increases. Five years, four more interest rate step-ups, guaranteed by Columbus Life. The year-10 interest rate will be 0.60% higher than the year-six rate. After year 10, Columbus Life will pay a current annual rate that is never less than the minimum approved by your state. 3 8

4 Accelerator s Key Advantages 4 8 Minimum Premium Requirements The minimum purchase payment is $5,000 for non-tax qualified contracts and $2,000 for tax qualified contracts. Issue Ages (in PA, 18 80) Tax Qualified and Non-Tax Qualified Easy Access Beginning immediately, you may withdraw up to 10% of your contract value each contract year without a surrender charge. 1 (Minimum withdrawal is $250. Unused withdrawal privileges do not accumulate in future years.) During a 60-day window at the end of the initial five-year guarantee period, you may withdraw some or all of your contract value without charge. You may take systematic withdrawals of either your 10% free amount or your interest earnings without a surrender charge, provided you have made no other partial withdrawals during the contract year. You may cancel your contract at any time (subject to a surrender charge through year 10). Note: Federal law may impose a 10% penalty tax on distributions prior to age 59½. Surrender Charges A charge applies only to amounts in excess of the free withdrawal provisions. Starting at 6% in the first five-year guarantee period, it decreases by 1% each year, from 5% to 1%, during the second and final five-year guarantee period. 1 Withdrawals will reduce the contract value.

5 Accelerator SINGLE PREMIUM DEFERRED ANNUITY Waiver of Surrender Charges Columbus Life guarantees that the cash surrender value will always be at least 100% of the premium paid, adjusted for any distributions. Surrender charges will be waived for the following: For withdrawals of up to 10% of your contract value each contract year. For systematic withdrawals of your interest earnings. During a 60-day window after year five and any time after year 10. Should you (as the owner or annuitant) be diagnosed with a terminal illness with a life expectancy of 12 months or less. 2 Should you (as the owner or annuitant) be confined to a long-term care facility or hospital for at least 30 consecutive days at the time of your withdrawal or surrender. 3 The owner is making IRS-required minimum distri butions or substantially equal periodic distributions under Section 72(t). If you annuitize your contract at least two years after your contract date with at least five years of payments under one of our Income Payments Options. Upon your death. No Front-End Expenses You pay no front-end sales charges or administrative fees. State premium taxes, if any, are absorbed by Columbus Life. One hundred percent of your purchase payment earns interest from day one. Control at Retirement You control the amount and timing of your distributions, provided your contract is not part of a qualified plan. Your contract value grows free of current taxes. The IRS requires distributions from many other retirement plans by age 70½. Your earnings, until withdrawn, are not included in determining how much of your Social Security benefits are subject to tax. Estate Planning Benefits Should you die before the contract income date, Columbus Life guarantees that your beneficiary will receive the current contract value at the time of distribution. Proceeds are paid to your designated beneficiary without the delays, expense and publicity of probate. You have total flexibility in naming your beneficiary, unless your contract is part of a qualified plan. Lifetime Income Options Many income options are available, including scheduled payments guaranteed to continue for your lifetime. Only an annuity can guarantee an income stream that cannot be outlived. The lifetime income guarantee is backed by the highly rated claims-paying ability of Columbus Life Insurance Company Terminal condition in Pennsylvania. 3 Nursing facility in Washington. Consecutive days not required in Pennsylvania.

6 Avoid Guesswork in Your Financial Planning Accelerator Annuity avoids the guesswork of long-term financial planning. No more futile attempts to time market movements. No more being stuck with lower renewal options year after year. Now Columbus Life offers you what you may be seeking in today s environment: long-term tax deferred growth with guarantees. Accelerate your returns, accelerate your wealth accumulation, accelerate your progress toward your financial goals with the Accelerator Annuity. Why Columbus Life? When you consider financial services and products, the resources and expertise of the financial services provider are paramount. Columbus Life Insurance Company is a leader in financial security, service quality and performance excellence. We are part of Western & Southern Financial Group, a family of financial services companies whose heritage dates back to 1888 and whose assets owned (more than $43 billion) and managed (almost $23 billion) total more than $66 billion as of March 31, Find out more about our financial strength and distinguished history at ColumbusLife.com. 46 8

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8 400 East Fourth Street Cincinnati, Ohio , Option 4 ColumbusLife.com Columbus Life is licensed in the District of Columbia and all states except New York. Contract series CL , CL-74-I 0407, CL 74-I 0407 ID; rider series CLR , CLR and CLR Payment of the benefits of Columbus Life Insurance Company products is backed by the full financial strength of Columbus Life Insurance Company, Cincinnati, Ohio. Product and feature availability varies by state. See your financial professional for product specifications. Guarantees are based on the claims paying ability of Columbus Life Insurance Company. Annuity products are not bank products, are not a deposit, are not insured by the FDIC, nor any other federal entity, have no bank guarantee, and may lose value. Columbus Life does not provide tax or legal advice. Please contact your tax or legal advisor regarding your situation. The information provided is for educational purposes only Columbus Life Insurance Company. All rights reserved.