BlackRock Diversa Volatility Control Index *

BlackRock Diversa Volatility Control Index * FOR FIXED INDEX ANNUITIES * Formally known as BlackRock ibld Diversa VC7 ER Index NOT FOR USE IN IOWA FA7363 (2-5) 02545 205 Forethought

In order to protect the freedom to live as you want in retirement, you may be averse to subjecting your retirement savings to stock market volatility. Fixed index annuities are typically meant for longterm savings purposes. They are insurance contracts, not registered securities or stock market investments. A fixed index annuity (FIA) may be part of an appropriate strategy to help you retire on your own terms. FIAs provide the ability to receive interest credit based, in part, on the performance of an equity index or a multi-asset index and provide protection against market-based losses. You are never invested in the index itself, but rather, interest is credited based on the performance of the index and the rules prescribed within the index crediting strategy. When considering a fixed index annuity, it is important to evaluate the product s available interest crediting strategies and to determine which strategy or combination of strategies works best for your specific retirement goals. We strive to provide our clients with products that provide the interest crediting options they need to create a retirement portfolio that works for them. That s why we have expanded your fixed index annuity options to include the BlackRock Diversa Volatility Control Index interest crediting method, which is based on a new Index with an inception date of October 5, 205. GOALS OF THE THE BLACKROCK DIVERSA VOLATILITY CONTROL INDEX The BlackRock Diversa Volatility Control Index is designed to reflect the following goals: Diversified asset allocation within the index Steadier returns within the index Focus on broad market trends By matching these goals with the goals of retirees, Forethought strives to provide the products and strategies you need to live the fulfilling retirement you deserve.

WHO IS BLACKROCK? BlackRock is the world s largest asset management company with $4.5 trillion in assets under management. An experienced leader in exchange-traded funds (ETFs), BlackRock has a global ETF platform with $ trillion in assets worldwide. 2 BlackRock maintains the BlackRock Diversa TM Volatility Control Index by using expert portfolio managers seeking to optimize its returns, risk and cost. The Index is risk-managed by BlackRock s own technology platform. It is important to understand, however, that when you purchase a fixed index annuity and choose the BlackRock Diversa Volatility Control Index as an interest crediting option, you are not investing directly in the Index. The BlackRock Diversa Volatility Control Index is a multi-asset index designed to provide a globally-diversified composition of select U.S.-listed ishares ETFs. Through its asset allocation strategy, it provides the potential for more consistent returns than a traditional stock index by dynamically responding to trends in asset returns. By using the ishares ETF platform, the Index is designed to enhance exposure to multiple markets. Remember, the Index only tracks the performance of selected ETFs; you are not purchasing an ETF and you are never directly invested in any index. What is an ETF? ETFs are diversified funds that trade on exchanges like stocks The value of an ETF is driven by two factors:. The values of the investments the fund holds, similar to a mutual fund, and 2. Supply and demand pressures of its trading on the exchange, similar to a stock. Money Managers by the Numbers by Yi Du, www.pionline.com, May 8, 205. 2 As of 2/3/204, ishares.com/us/resources/about-ishares 2

HIGHLIGHTS OF THIS INDEX INCLUDE: Highly diversified asset allocation strategy comprised of up to 2 BlackRock ishares ETFs with equity, fixed income and alternative exposures. BlackRock s Index Oversight Committee is responsible for governance and oversight of the Index, and only certain ishares ETFs are eligible for inclusion. The BlackRock Diversa Volatility Control Index invests in these ETFs within the below referenced asset and sub-asset classes: Equity Domestic International developed Emerging markets Fixed Income Credit Mortgages High Yield U.S. Government Cash (three-month LIBOR) Alternatives Real Estate Investment Trusts Commodities Monthly rebalancing on a 90-day lookback period that allocates assets based on risk-adjusted returns. By evaluating the prior three months of risk-adjusted market performance, the ishares holdings used in the BlackRock Diversa Volatility Control Index are rebalanced around a target allocation on a monthly basis. Using this 90-day lookback period helps to identify potential market trends. Based on this data, the Index is then optimized to maximize risk-adjusted returns and minimize volatility using up to 2 ETFs. Asset classes with greater risk-adjusted historical returns are reallocated to the highest weight and those with poorer risk-adjusted historical returns are adjusted to the lowest weights. However, the monthly change in allocation to any asset will not exceed 5% in either direction relative to the original weight. The funds in this category are investment grade bonds, spanning corporate, sovereign, supranational, local authority and non-u.s. agency bonds. There is no guarantee that any index will achieve its objectives, generate positive returns, or avoid losses. 3

Daily monitoring to keep risk exposure and volatility within a set limit. The BlackRock Diversa Volatility Control Index includes a volatility control feature that aims to reduce the risk of Index returns. Volatility refers to the change in value of the Index in both directions positive and negative. If the Index fluctuates dramatically in a positive or negative direction, it is considered volatile and the volatility control feature would be activated to help control the fluctuation. The BlackRock Diversa Volatility Control Index has a volatility target of 7%. This means that if the Index experiences a change either higher or lower than the 7% target, it automatically readjusts the allocation of assets to bring the value back to the 7% target. The 7% target volatility control feature regulates positive and negative fluctuation within the Index. It is unrelated to the interest crediting rate. 4

HOW DOES THIS STRATEGY WORK WITHIN AN FIA? The BlackRock Diversa Volatility Control Index strategy is a two-year point-to-point approach that credits interest to a fixed index annuity contract value once at the end of a two-year period. The interest credited is based on the percentage change in the Index from the start to the end of the two-year period, minus a stated percentage charge called the spread. There is no crediting cap, but there is a spread reduction. What is the spread? The spread is the percentage by which an index value will be reduced before being credited to the fixed index annuity contract value. The issuing insurance company applies this charge. Hypothetical historical performance of the BlackRock Diversa TM Volatility Control Index In order to show how the BlackRock Diversa Volatility Control Index and crediting method would have functioned together if they had both been available for the time period indicated, the chart on the next page illustrates the last 2 years of hypothetical historical returns of the Index. This is also called back-tested performance because the actual Index inception date is October 5, 205. Using a Forethought fixed index annuity, the chart shows the interest that Forethought may have credited after deducting a 6% spread. It shows the mechanics of how the Index returns and the fixed index annuity crediting method would have worked together in any two-year period beginning on each January, from the years 2003 through 204, if the Index and product had been available. Index returns show past performance based on hypothetical historical data, assuming the Index had been available from December 3, 2002 through December 3, 204. It is important to remember that no single crediting method and/or index strategy can consistently produce the most interest under all market conditions. In addition, as with any fixed index annuity, there is the potential that no interest would be credited in down market conditions. In addition, no interest would be credited if index returns fail to exceed the spread. The maximum spread for the BlackRock Diversa TM Volatility Control Two-Year Point-to-Point with Spread Indexed Strategy for a Forethought fixed index annuity is 5%. 5

Hypothetical historical performance of the BlackRock Diversa TM Volatility Control Index BlackRock Diversa TM Volatility Control Index Years 2-Year Index Return 2-Year Index Return at 6% Spread 2003-2004 29.3% 23.3% 2004-2005 3.50% 7.50% 2005-2006 3.37% 7.37% 2006-2007 2.26% 6.26% 2007-2008 -6.8% 0.00% 2008-2009 -2.90% 0.00% 2009-200 2.83% 6.83% 200-20 5.96% 0.00% 20-202 7.73%.73% 202-203 6.87% 0.87% 203-204 6.07% 0.07% When Index performance is negative for any two-year period, Forethought fixed index annuity interest credit will be 0.00%. In addition, no interest would be credited if the Index returns fail to exceed the spread. Source: Interactive Data Corp, 205 Interest Crediting Rates - Forethought 2/3/204 The chart shows the pre-inception performance data of the Index based on hypothetical back-tested closing levels from 2/3/2002 through 2/3/204 and does not include any post-inception, actual live index historical performance data of the BlackRock Diversa TM Volatility Control Index. Different purchase dates will produce different index returns. The hypothetical back-tested BlackRock Diversa TM Volatility Control Index results reflect the interest that Forethought would have credited for a hypothetical Forethought fixed index annuity product after deducting a 6% spread for the time period indicated. Spread is not guaranteed and is subject to a 5% maximum for the BlackRock Diversa TM Volatility Control Two-Year Point-to- Point with Spread Indexed Strategy. Important Information Regarding Hypothetical Historical (Back-Tested) Performance Hypothetical historical performance of the BlackRock Diversa TM Volatility Control Index is not an indication of future results. Back-tested performance is not actual historical performance, but is hypothetical. The back-tested calculations are based on the same methodology that was in effect when the BlackRock Diversa TM Volatility Control Index was officially launched on October 5, 205. Prospective application of the methodology used to construct the BlackRock Diversa TM Volatility Control Index may not result in performance commensurate with the back-test returns shown. The back-test period does not correspond to any actual history of the Index. Another limitation of back-tested hypothetical information is that generally the back-tested calculation is prepared with the benefit of hindsight. Back-tested data reflects the application of the Index methodology and selection of Index constituents in hindsight. No hypothetical record can completely account for the impact of financial risk in actual trading. For example, there are numerous factors related to the equities, fixed income, and/or commodities markets in general which cannot be, and have not been, accounted for in the preparation of the index information set forth, all of which can affect actual performance. It is not possible to invest directly in a BlackRock Diversa TM Volatility Control Index. The hypothetical historical performance data, however does not reflect any additional costs or fees that may be paid in connection with any security linked to the Index. In addition, the performance data does not reflect any additional fees that may be paid by counterparty to a transaction referencing the BlackRock Diversa TM Volatility Control Index, and which may be agreed between BlackRock and the counterparty. HYPOTHETICAL HISTORICAL DATA IS NO GUARANTEE OF FUTURE RESULTS. ACTUAL RESULTS WILL VARY BASED ON THE PERCENTAGE OF CHANGE IN THE INDEX, INDEX ALLOCATIONS, AND INTEREST SPREADS. 6

ABOUT FORETHOUGHT 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. Forethought is a subsidiary of Global Atlantic Financial Group Limited, a financial services company focused on the annuity, life insurance and reinsurance markets with $40 billion in assets and nine offices. This brochure must be preceded or accompanied by the applicable Forethought fixed annuity product guide. Risks of BlackRock Diversa TM Volatility Control Index The BlackRock Diversa TM Volatility Control Index tracks derivatives, which includes futures, options, swaps, and structured notes and other derivatives, could reduce the Index s returns, increase volatility and may include currency risk, leverage risk (a risk that could magnify increases and decreases in value), liquidity risk, index risk, pricing risk, and counterparty risk (the risk that the counterparty may be unwilling or unable to honor its obligations) as well as correlation and tracking risks. Losses from short positions in futures contracts occur when the underlying index increases in value and the holder of the short position is required to pay the difference in value of the futures contract resulting from an increase in the index. Overall securities market risks may affect the value of individual equity and fixed income securities. The net asset value of the Index will fluctuate based on changes in the value of the equity securities that it tracks or to which it has exposure. Bonds and other fixed income security values will typically fluctuate inversely to interest rate changes and issuers may not make payments on debt securities, resulting in losses. Positions in lower-quality bonds, known as highyield or junk bonds, present greater risk, including possible default. Investments in growth stocks often expect the companies to increase their earnings at a certain rate and if expectations are not met, these stocks can be punished even if earnings do increase. Value stock investments may never reach what the ETF manager believes is their full market value. These securities may decline in price or shift in and out of favor depending on market and economic conditions. The percentage allocations among underlying investments could cause the Index to underperform relative to relevant benchmarks and other underlying securities with similar investment objectives. The cost of investing in an Index based interest crediting method that in turn invests in exchange-traded funds (ETFs) will be higher than investing directly in those securities and may be higher than other mutual funds that invest directly in stocks and bonds. Allocation to the Index involves the risks associated with investing in the underlying ETFs. The percentage allocations among investments could cause the Portfolio to underperform relative to relevant benchmarks and other mutual funds with similar investment objectives. The cost of investing in a Portfolio that invests in exchange-traded funds (ETFs) will be higher than investing directly in those securities and may be higher than other mutual funds that invest directly in stocks and bonds. Investing in the Portfolio involves the risks associated with investing in the underlying ETFs. Guarantees are based on the claims-paying ability of Forethought Life Insurance Company. A fixed index annuity is intended for retirement or other long-term needs. It is intended for a person who has sufficient cash or other liquid assets for living expenses and other unexpected emergencies, such as medical expenses. A fixed index annuity is not a registered security or stock market investment and does not directly participate in any stock or equity investments or index. 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 of a tax or legal nature, you should consult a tax or legal counsel for advice. Taxable distributions (including certain deemed distributions) are subject to ordinary income taxes, and if made prior to age 59½, may also be subject to a 0% federal income tax penalty. Payments from IRAs are taxable in accordance with the normal rules surrounding taxation of payments from an IRA. Early surrender charges may also apply. Withdrawals may reduce the death benefit and any optional guaranteed amounts in an amount more than the actual withdrawal. If you are investing in a fixed index annuity through a tax-advantaged retirement plan such as an IRA, you will receive no additional tax advantage from a fixed index annuity. Under these circumstances, you should only consider buying a fixed index annuity if it makes sense because of the annuity s other features, such as lifetime income payments and death benefit protection. BlackRock, Inc. and its affiliates ( BlackRock ) is not the issuer or producer of any annuity product associated with Forethought Life Insurance Company and BlackRock has no responsibilities, obligations or duties to purchasers of such products. The BlackRock ibld Diversa TM VC7 ER Index is a product of BlackRock Index Services, LLC and has been licensed for use by Forethought Life Insurance Company. BLACKROCK, BlackRock ibld Diversa TM VC7 ER Index, and the corresponding logos are registered and unregistered trademarks of BlackRock. While Forethought Life Insurance Company may for itself execute transactions with BlackRock in or relating to the BlackRock ibld Diversa TM VC7 ER Index in connection with its annuity products purchasers acquire all such annuity products from Forethought Life Insurance Company and neither acquire any interest in the BlackRock ibld Diversa TM VC7 ER Index nor enter into any relationship of any kind with BlackRock upon purchasing such products. Forethought annuity products are not sponsored, endorsed, sold or promoted by BlackRock. BlackRock makes no representation or warranty, express or implied, to the owners of any Forethought annuity product or any member of the public regarding the advisability of purchasing such products nor does it have any liability for any errors, omissions or interruptions of the BlackRock ibld Diversa TM VC7 ER Index. BlackRock shall not be liable in any way to the issuer, purchasers, or any other party in respect of the use or accuracy of the BlackRock ibld Diversa TM VC7 ER Index or any data included therein. Forethought is Forethought Life Insurance Company and affiliates, subsidiaries of Global Atlantic Financial Group Limited. Forethought fixed index annuities are issued by Forethought Life Insurance Company. FA7363 (2-5) 02545 205 Forethought