Valued Client Owner Age: 60 State of Issue: Michigan. Death Benefit: Maximum Daily Value II

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1 ForeRetirement TM III B-Share Prepared for: Valued Client Owner Age: 60 State of Issue: Michigan Prepared on: April 30, 2015 Prepared by: Guest User Firm Name: Guest Input Summary: Initial Investment: $500,000 Death Benefit: Maximum Daily Value II Not a bank deposit Not FDIC/NCUA insured Not insured by any federal government agency No bank guarantee May lose value Not a condition of any banking activity Page 1 of 10 NOT VALID WITHOUT ALL PAGES

2 ForeRetirement B-Share Hypothetical Illustration: Introduction What is this document? About Forethought Life Insurance Company This is an illustration intended to help you understand how your variable annuity Contract works. It is not intended to predict performance and is not a guarantee of future performance. It depicts how the Contract will perform and respond under certain assumptions that may or may not come true. This is not a variable annuity contract. Forethought Life Insurance Company provides a full suite of annuities and a leading preneed life insurance platform to help solve the pre-retirement, retirement and end-of-life challenges facing Americans today. A targeted strategy delivers multifaceted product lines to customers through key distribution relationships across the country. Experienced leadership and financial discipline underlie strong growth and success in the marketplace. About Forethought s ForeRetirement ForeRetirement Variable Annuities are designed to help meet your investment and income needs for retirement. With ForeRetirement, you create a personalized balance between growth opportunity and protection through a wide range of options. Variable annuities are long-term investment vehicles designed for retirement purposes, in which all interest, dividends, and capital gains accumulate tax-deferred. ForeRetirement Contracts also feature income certainty and optional investment protection features. Optional benefits are available at an additional cost. The ForeRetirement is available in multiple share classes, which each have different fees and charges as described in the prospectus. Your financial professional s commission may also differ depending upon the share class selected. You should discuss which share class is right for you with your financial professional based on the available options. Important share class considerations include, but are not limited to, your investment holding period and investment flexibility. Contracts are subject to market fluctuations and possible loss of principal. As a result, the value when redeemed may be worth more or less than the amount originally invested. Furthermore, fees, such as administrative and sales charges, premium based charges, and mortality and risk expense charges, will also affect the values in the contract. All guarantees assume compliance with any applicable benefit rules and are based on the claims-paying ability of Forethought Life Insurance Company. Death benefits may be subject to ordinary income taxes, and may be included in the contract owner s gross estate for estate tax purposes. Forethought is a subsidiary of Global Atlantic Financial Group Limited, a multiline insurance and reinsurance company with over $30 billion in assets and 10 offices. Global Atlantic was founded at Goldman Sachs in 2004 and separated as an independent company in April of This illustration must be preceded or accompanied by a prospectus, product brochure and product guide. The prospectus contains investment objectives, risks, fees, charges, expenses, and other information regarding the variable annuity contract and the underlying investments, which should be considered carefully before investing. You should read the prospectus carefully before investing money. THIS IS AN ILLUSTRATION ONLY. AN ILLUSTRATION IS NOT INTENDED TO PREDICT ACTUAL PERFORMANCE. INTEREST RATES, DIVIDENDS, OR VALUES THAT ARE SET FORTH IN THE ILLUSTRATION ARE NOT GUARANTEED, EXCEPT FOR THOSE ITEMS CLEARLY LABELED AS GUARANTEED. Where to find additional product information In addition to the prospectus, you can find more information about ForeRetirement in the product kit. The kit contains a product brochure and product guide that describe the product features and investment options, as well as optional benefits. These materials are interdependent and together will give you a more complete picture of ForeRetirement s benefits, as well as the associated risks, costs and tradeoffs Page 2 of 10 NOT VALID WITHOUT ALL PAGES

3 ForeRetirement B-Share Hypothetical Illustration: Snapshot Client Name: Valued Client Initial Investment:$500,000 Living Benefit: None Selected Gender/Issue Age/State of Issue: Female/ 60/ MI Tax Status: Non-Qualified Death Benefit: Maximum Daily Value II The following charges are deducted from scenarios in this illustration. Charges may be assessed on the full premium amount, benefit base or Contract Value; therefore, deducting the sum of total fees assessed from the gross return will not yield the net rate of return. Charges Mortality and Expense Risk Charge: 0.45% Administrative Charge: 0.20% Premium Based Charge: 0.50% Maximum Daily Value II: 0.45% Average Fund Operating Expenses: 1.04% Annual Maintenance Fee*: $50 Contingent Deferred Sales Charges (CDSC) will only apply to the contract upon surrenders. The schedule for the ForeRetirement B-Share is: Contingent Deferred Sales Charge Schedule Year CDSC % 8.50% 7.50% 6.50% 5.50% 4.50% 3.50% 2.50% 0.00% *The Annual Maintenance Fee is waived if the Contract Value is $50,000 or more on your Contract Anniversary. Premium Based Charges will be deducted on each Quarterly Contract Anniversary. Each contribution has its own Premium Based Charge schedule. This charge continues for the life of the contract. Withdrawals and subsequent premium payments are assumed to take place at the end of each period at the frequency elected. All other illustrated values are as of the end of the Contract Year Page 3 of 10 NOT VALID WITHOUT ALL PAGES

4 ForeRetirement B-Share Hypothetical Illustration: Changing Market - Average Gross Rate of Return 8.00% Client Name: Valued Client Initial Investment:$500,000 Living Benefit: None Selected Gender/Issue Age/State of Issue: Female/ 60/ MI Tax Status: Non-Qualified Death Benefit: Maximum Daily Value II Year Age Premium Payments Annual Net Return Contract Value Surrender Value 1 60 $500, % $505,099 $462,599 $534, $ % $538,638 $501,138 $577, $ % $608,853 $576,353 $632, $ % $592,731 $565,231 $647, $ % $693,853 $671,353 $723, $ % $766,496 $748,996 $854, $ % $806,086 $793,586 $854, $ % $956,016 $956,016 $977, $ % $1,060,962 $1,060,962 $1,197, $ % $1,071,707 $1,071,707 $1,197, $ % $1,154,508 $1,154,508 $1,197, $ % $1,345,750 $1,345,750 $1,407, $ % $1,334,592 $1,334,592 $1,467, $ % $1,553,699 $1,553,699 $1,692, $ % $1,610,753 $1,610,753 $1,723, $ % $1,698,609 $1,698,609 $1,723, $ % $1,554,109 $1,554,109 $1,826, $ % $1,578,227 $1,578,227 $1,826, $ % $1,467,790 $1,467,790 $1,826, $ % $1,431,125 $1,431,125 $1,826,291 Totals $500, % (Average Net Rate of Return) All guarantees assume compliance with any applicable benefit rules and are based on the claims-paying ability of Forethought Life Insurance Company. These hypothetical examples are for illustrative purposes only and are not indicative of any investment. They are not indicative of all possible financial outcomes, which will vary based on such factors as investment volatility and the sequence of future returns. Hypothetical Daily Returns assume 251 hypothetical Valuation Days per contract year. Death Benefit Page 4 of 10 NOT VALID WITHOUT ALL PAGES

5 ForeRetirement B-Share Hypothetical Illustration: Stable Market % Gross Rate Client Name: Valued Client Initial Investment:$500,000 Living Benefit: None Selected Gender/Issue Age/State of Issue: Female/ 60/ MI Tax Status: Non-Qualified Death Benefit: Maximum Daily Value II Year Age Premium Payments Annual Net Return Contract Value Surrender Value 1 60 $500, % $526,015 $483,515 $527, $ % $553,516 $516,016 $554, $ % $582,588 $550,088 $583, $ % $613,322 $585,822 $614, $ % $645,811 $623,311 $647, $ % $680,157 $662,657 $681, $ % $716,465 $703,965 $717, $ % $754,848 $754,848 $756, $ % $795,424 $795,424 $796, $ % $838,318 $838,318 $839, $ % $883,663 $883,663 $885, $ % $931,598 $931,598 $933, $ % $982,273 $982,273 $983, $ % $1,035,842 $1,035,842 $1,037, $ % $1,092,473 $1,092,473 $1,094, $ % $1,152,339 $1,152,339 $1,153, $ % $1,215,626 $1,215,626 $1,217, $ % $1,282,528 $1,282,528 $1,284, $ % $1,353,253 $1,353,253 $1,355, $ % $1,428,019 $1,428,019 $1,429,911 Totals $500, % (Average Net Rate of Return) All guarantees assume compliance with any applicable benefit rules and are based on the claims-paying ability of Forethought Life Insurance Company. These hypothetical examples are for illustrative purposes only and are not indicative of any investment. They are not indicative of all possible financial outcomes, which will vary based on such factors as investment volatility and the sequence of future returns. Hypothetical Daily Returns assume 251 hypothetical Valuation Days per contract year. Death Benefit Page 5 of 10 NOT VALID WITHOUT ALL PAGES

6 ForeRetirement B-Share Hypothetical Illustration: Flat Market % Gross Rate of Return Client Name: Valued Client Initial Investment:$500,000 Living Benefit: None Selected Gender/Issue Age/State of Issue: Female/ 60/ MI Tax Status: Non-Qualified Death Benefit: Maximum Daily Value II Year Age Premium Payments Annual Net Return Contract Value Surrender Value 1 60 $500, % $486,901 $444,401 $500, $ % $474,021 $436,521 $500, $ % $461,357 $428,857 $500, $ % $448,905 $421,405 $500, $ % $436,662 $414,162 $500, $ % $424,625 $407,125 $500, $ % $412,788 $400,288 $500, $ % $401,151 $401,151 $500, $ % $389,708 $389,708 $500, $ % $378,457 $378,457 $500, $ % $367,395 $367,395 $500, $ % $356,518 $356,518 $500, $ % $345,823 $345,823 $500, $ % $335,307 $335,307 $500, $ % $324,968 $324,968 $500, $ % $314,802 $314,802 $500, $ % $304,806 $304,806 $500, $ % $294,978 $294,978 $500, $ % $285,315 $285,315 $500, $ % $275,813 $275,813 $500,000 Totals $500, % (Average Net Rate of Return) All guarantees assume compliance with any applicable benefit rules and are based on the claims-paying ability of Forethought Life Insurance Company. These hypothetical examples are for illustrative purposes only and are not indicative of any investment. They are not indicative of all possible financial outcomes, which will vary based on such factors as investment volatility and the sequence of future returns. Hypothetical Daily Returns assume 251 hypothetical Valuation Days per contract year. Death Benefit Page 6 of 10 NOT VALID WITHOUT ALL PAGES

7 ForeRetirement B-Share Hypothetical Illustration: Flat Market % Gross Rate of Return with Maximum Charges Client Name: Valued Client Initial Investment:$500,000 Living Benefit: None Selected Gender/Issue Age/State of Issue: Female/ 60/ MI Tax Status: Non-Qualified Death Benefit: Maximum Daily Value II Year Age Premium Payments Annual Net Return Contract Value Surrender Value 1 60 $500, % $481,684 $439,184 $500, $ % $463,675 $426,175 $500, $ % $445,967 $413,467 $500, $ % $428,557 $401,057 $500, $ % $411,438 $388,938 $500, $ % $394,606 $377,106 $500, $ % $378,056 $365,556 $500, $ % $361,784 $361,784 $500, $ % $345,784 $345,784 $500, $ % $330,052 $330,052 $500, $ % $314,584 $314,584 $500, $ % $299,375 $299,375 $500, $ % $284,421 $284,421 $500, $ % $269,718 $269,718 $500, $ % $255,261 $255,261 $500, $ % $241,046 $241,046 $500, $ % $227,070 $227,070 $500, $ % $213,328 $213,328 $500, $ % $199,816 $199,816 $500, $ % $186,530 $186,530 $500,000 Totals $500, % (Average Net Rate of Return) The above illustration deducts the following maximum charges for Maximum Daily Value II is 1.5%. All guarantees assume compliance with any applicable benefit rules and are based on the claims-paying ability of Forethought Life Insurance Company. These hypothetical examples are for illustrative purposes only and are not indicative of any investment. They are not indicative of all possible financial outcomes, which will vary based on such factors as investment volatility and the sequence of future returns. Hypothetical Daily Returns assume 251 hypothetical Valuation Days per contract year. Death Benefit Page 7 of 10 NOT VALID WITHOUT ALL PAGES

8 ForeRetirement B-Share Hypothetical Illustration: Death Benefit & Optional Features Maximum Daily Value II Maximum Daily Value (MDV II) is an optional Guaranteed Death Benefit rider. Though the benefit is intended to provide long-term protection, it is not permanent. The benefit typically expires upon the later of age 95 or 10 years from contract purchase. It will expire sooner if you initiate an annuity payout option (annuitize). The MDV II Death Benefit guarantees that we will pay the greater of: Contract Value; or Maximum Daily Contract Value prior to the earlier of date of death or the oldest Owner's 81 st birthday (adjusted for any Premium Payments and Partial Withdrawals) Investment restrictions apply and are designed to reduce investment volatility within the portfolios. As a result, you should anticipate that your contract value normally may not decline in value as much as the overall market in downturns. However, you should also anticipate that your contract value will not normally increase in value to the same extent as the equity or bond markets during market upswings, simultaneously mitigating insurance company risk under the guarantee. Required participation in select individual fund options will impact performance. Performance varies by fund option. If you are uncomfortable with the inclusion of these fund options in your contract, MDV II may not be suitable. The MDV II Death Benefit is subject to a maximum payout at death equal to $1 million, plus the contract value upon receipt of proof of death. Standard Death Benefit The ForeRetirement protects your legacy by including a Standard Death Benefit equal to your Contract Value. Though the benefit is intended to provide long-term protection, it is not permanent. The benefit typically expires upon the later of age 95 or 10 years from contract purchase. It will expire sooner if you initiate an annuity payout option (annuitize). Death benefits may be subject to ordinary income taxes. All guarantees assume compliance with any applicable benefit rules and are based on the claims-paying ability of Forethought Life Insurance Company Page 8 of 10 NOT VALID WITHOUT ALL PAGES

9 ForeRetirement B-Share Hypothetical Illustration: Key Terms & Definitions Annual Net Return The assumed net rate of return for the investment during the Contract year. Annuity Commencement Date The Annuity Commencement Date cannot be earlier than your first Contract Anniversary. The maximum Annuity Commencement Date will be the later of the oldest Owner s 95 th birthday (or if the Owner is a non-natural person, the Annuitant s 95 th birthday) or 10 years from the Contract Issue Date. We reserve the right, at our sole discretion, to grant Annuity Commencement Date extension requests received by us not less than thirty days prior to a scheduled Annuity Commencement Date. We do not expect to grant extension requests when the Legacy Lock III death benefit is attached to the contract. Contract Charges These charges include Mortality and Expense Risk Charges (costs we incur to cover our longevity risk and some of our distribution costs), Administrative Charges (administrative costs), Premium Based Charges (expenses related to B and L share contracts only), and Fund Operating Expenses (Sub-Account management and other expenses). Each of these charges are periodically deducted from your Contract Value. Optional Benefit Charges The fee we charge when you elect certain optional riders. Please refer to the Fee Summary of your prospectus for a description of the frequency and basis used to deduct these charges. Premium Payments Money sent to us to be invested in your Sub-Account(s) and your Fixed Account(s). Surrender Value The amount we pay you if you terminate your Contract before the Annuity Commencement Date. The Surrender Value is equal to the Contract Value minus any applicable charges and Premium Tax (subject to rounding). Withdrawals Any withdrawal of a portion of your Contract Value. May be subject to charges if applicable. Contract Value The total value of the Sub-Account(s) and the Fixed Account(s) on any Valuation Day. Death Benefit Except as otherwise provided, the amount payable if the Owner, joint Owner, or Annuitant in the case of a nonnatural Owner, dies before the Annuity Commencement Date. Where applicable, your Death Benefit includes the standard or an optional Death Benefit. Though the benefit is intended to provide long-term protection, it is not permanent. The benefit typically expires upon the later of age 95 or 10 years from contract purchase. It will expire sooner if you initiate an annuity payout option (annuitize) Page 9 of 10 NOT VALID WITHOUT ALL PAGES

10 ForeRetirement B-Share Hypothetical Illustration: Important Information The securities referred to herein are not insured by the FDIC. They are not deposits or obligations of, nor are they guaranteed by, the depository institution. These securities are subject to investment risks, including possible loss of principal invested. If you are investing in a variable annuity through a tax-advantaged retirement plan such as an IRA, you will receive no additional tax advantage from the variable annuity. Under these circumstances, you should only consider buying a variable annuity if it makes sense because of the annuity's other features, such as lifetime income payments and death benefit protection. The effects of taxes on this investment have not been reflected in the illustration. Taxable distributions (including certain deemed distributions) are subject to ordinary income tax, and if made prior to age 59 ½, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. Withdrawals will reduce the death benefit, cash surrender value and Contract Value. Distributions from a non-qualified contract before the Annuity Commencement Date are taxable to the extent of income on the Contract. Payments from IRAs are taxable in accordance with the normal rules surrounding taxation of payments from an IRA. Excess withdrawals may impact contract value, death benefit, and any optional guaranteed amounts in an amount more than the actual withdrawal. Death Benefits may be subject to ordinary income taxes, and may be included in the contract owner's gross estate for estate tax purposes. Unless you have chosen to illustrate with Required Minimum Distributions, this Illustration does not take into consideration the potential withdrawal of RMDs that may be associated with a contract issued as a traditional Individual Retirement Account ( IRA ). If you choose to illustrate RMDs, please note that the illustration is based on your life expectancy and does not take into account your spouse, whose age may affect actual RMDs. RMDs from IRA annuity during the Owner s lifetime, not taken in the form of irrevocably elected annuity payments, are calculated by dividing the value of the annuity contract as of the last day of the preceding year by life expectancy factors established by the IRS. In some circumstances, the value of the contract for purposes of calculating RMDs includes the actuarial present value of all contract and rider benefits, such as guaranteed withdrawal and death benefits. Any withdrawals, including RMDs, may reduce the actuarial present value of the living and/or death benefit guarantees on a contract by more than the dollar amount of the withdrawal. This can result in the significant reduction of the living and/or death benefit guarantees remaining in the contract. Distributions from an IRA are required for each year following the year in which the Owner reaches age 70 ½. Failure to take RMDs may result in a 50% penalty on the amount of required distribution not taken, and the penalty does not relieve the Owner of the responsibility to withdraw the required amount for that year. No RMD is required during lifetime of the Owner of a Roth IRA. Distributions from one IRA may be able to satisfy the RMDs associated with another IRA, however only RMDs resulting from this annuity contract may receive treatment as a non-excess withdrawal. Additionally, the RMDs shown are estimates and should not be relied upon in determining actual RMD obligations. Please consult with an attorney, financial advisor, or qualified tax advisor concerning these matters. 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. These materials are not intended to provide tax, accounting or legal advice. As with all matters or a tax or legal nature, you should consult your own tax or legal counsel for advice. This illustration must be preceded or accompanied by a prospectus, product brochure and product guide. The prospectus contains investment objectives, risks, fees, charges, expenses, and other information regarding the variable annuity contract and the underlying investments, which should be considered carefully before investing. You should read the prospectus carefully before investing money. Please see the prospectus for more information regarding the underlying funds in which you can invest. The issuing insurance companies are not investment advisers nor registered as such with the SEC or any state securities regulatory authority. They are not acting in any fiduciary capacity with respect to your investment. This information does not constitute personalized investment advice or financial planning advice. ForeRetirement is a flexible premium variable annuity issued by Forethought Life Insurance Company, Indianapolis, IN: FL-FPVA-12, FL-FPVA-12CA, FL-FPVA-12CT, FL-FPVA-12FL, FL-FPVA-12MT, ICC12-FLICVA. ForeRetirement is underwritten and distributed by Forethought Distributors, LLC Page 10 of 10 NOT VALID WITHOUT ALL PAGES