Path Protector Whole Life Insurance PARTICIPATING WHOLE LIFE INSURANCE TO AGE 121 ESPECIALLY DESIGNED FOR: 4/20/2015 PRESENTED BY: Lake Worth, Florida 33467 561-329-3344 wcorley@1db.com Underwritten by:
Path Protector Whole Life, Narrative Summary Plan Description Whole Life insurance provides permanent protection with guaranteed premiums, cash values and death benefits. This policy is participating and features level guaranteed premiums payable to age 121. Underwriting Class, ABRV PMD,HOS,Blood Profile,MVR,PHI. Actual premiums for the proposed life insurance coverage will ultimately depend on the outcome of the underwriting process, and may vary from this illustration. If so, you will receive a revised illustration with your insurance contract. Death Benefit The Death Benefit is the amount payable at the death of the insured to the named policy beneficiary. The initial Death Benefit is. Cash Surrender Value The amount available to the policyowner on surrender of the policy. Non-Guaranteed Policy Elements The values shown in the current and mid-point columns are not guaranteed and assume that our current dividend scale will remain unchanged for the years shown. This is not likely to occur and actual results may be more or less favorable. Future dividends can vary at the company's discretion depending upon factors such as death claims, investment earnings and overhead costs. Dividend Option The dividends are used to purchase additional insurance. Premium Mode This illustration assumes a Monthly Premium Mode. Premium Payment Modes Annual Monthly Base Policy Premium $5,200.00 $457.60 Rider Premiums $0.00 $0.00 Total Premium $5,200.00 $457.60 Modified Endowment Contract (MEC) If your cumulative premium payments exceed certain amounts specified under the Internal Revenue Code, your policy will become a Modified Endowment Contract (MEC). If your policy is a MEC, the tax treatment of any death benefit provided under the contract will still qualify for income tax free treatment but you may be subject to additional taxes and penalties on any distributions from your policy during the life of the insured. The policy, presented in this illustration, would not be classified as a MEC. Page 2 of 5
Path Protector Whole Life, Tabular Detail Year Attained Age Year-End Values and Benefits, Dividends to Paid Up Additions Annualized Premium Cumulative Outlay Guaranteed Cash Value Death Benefit Year End Dividend Non-Guaranteed Current Cash Value Death Benefit 1 36 $5,491 $5,491 $0 $0 $0 2 37 $5,491 $10,982 $0 $0 $0 3 38 $5,491 $16,474 $2,509 $30 $2,540 $505,049 4 39 $5,491 $21,965 $7,240 $91 $7,363 $505,505 5 40 $5,491 $27,456 $12,143 $153 $12,423 $506,241 6 41 $5,491 $32,947 $17,227 $221 $17,739 $507,262 7 42 $5,491 $38,438 $22,483 $289 $23,304 $508,549 8 43 $5,491 $43,930 $27,905 $359 $29,117 $510,086 9 44 $5,491 $49,421 $33,495 $434 $35,187 $511,878 10 45 $5,491 $54,912 $39,250 $511 $41,519 $513,909 11 46 $5,491 $60,403 $45,173 $594 $48,121 $516,184 12 47 $5,491 $65,894 $51,267 $678 $55,003 $518,687 13 48 $5,491 $71,386 $57,573 $769 $62,218 $521,423 14 49 $5,491 $76,877 $64,111 $861 $69,791 $524,376 15 50 $5,491 $82,368 $70,887 $960 $77,738 $527,549 16 51 $5,491 $87,859 $77,880 $1,060 $86,046 $530,929 17 52 $5,491 $93,350 $85,074 $1,167 $94,709 $534,519 18 53 $5,491 $98,842 $92,466 $1,277 $103,729 $538,306 19 54 $5,491 $104,333 $100,034 $1,393 $113,097 $542,294 20 55 $5,491 $109,824 $107,759 $1,511 $122,798 $546,473 25 60 $5,491 $137,280 $148,741 $2,169 $176,610 $570,075 30 65 $5,491 $164,736 $192,970 $2,941 $239,374 $597,955 35 70 $5,491 $192,192 $239,309 $3,813 $310,856 $629,732 40 75 $5,491 $219,648 $286,925 $4,798 $391,080 $665,216 45 80 $5,491 $247,104 $332,759 $5,856 $476,988 $704,290 50 85 $5,491 $274,560 $372,555 $6,915 $563,036 $746,838 55 90 $5,491 $302,016 $403,414 $7,927 $644,382 $792,825 60 95 $5,491 $329,472 $425,195 $8,858 $719,318 $842,228 65 100 $5,491 $356,928 $440,917 $9,748 $791,019 $895,121 70 105 $5,491 $384,384 $452,454 $10,616 $861,523 $951,616 75 110 $5,491 $411,840 $462,542 $11,524 $935,024 $1,011,886 80 115 $5,491 $439,296 $471,115 $12,466 $1,011,357 $1,076,148 85 120 $5,491 $466,752 $478,102 $13,447 $1,090,311 $1,144,648 86 121 $5,491 $472,243 $13,964 $1,158,612 $1,158,612 Page 3 of 5
Path Protector Whole Life, Numeric Summary Monthly Premium:$457.60 Guaranteed Non-Guaranteed Midpoint Non-Guaranteed Current Summary at Year 5 (Age 40) $27,456 $12,143 $27,456 $12,283 $505,567 $27,456 $12,423 $506,241 Summary at Year 10 (Age 45) $54,912 $39,250 $54,912 $40,384 $509,401 $54,912 $41,519 $513,909 Summary at Year 20 (Age 55) $109,824 $107,759 $109,824 $115,278 $525,683 $109,824 $122,798 $546,473 Summary at Year 35 (Age 70) $192,192 $239,309 $192,192 $275,082 $567,312 $192,192 $310,856 $629,732 Guaranteed : Policy values and benefits are guaranteed provided the premium is paid when due. Midpoint : Policy values and benefits are based on 50% of current dividend scale. Current : Policy values and benefits are based on current dividend scale. * Cash surrender value is the amount of the cash value without any policy indebtedness; any paid up additions; and any dividends left on deposit with the Company. ** Death benefit assumes that there is no policy indebtedness and all premium is paid. I have received a copy of this illustration and understand nonguaranteed elements illustrated are subject to change and could be higher or lower. The agent has told me they are not guaranteed. 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 the illustration. Signature of Applicant Signature of Agent Date Date Agent Code Number Page 4 of 5
Path Protector Whole Life, Optional Riders Accelerated Death Benefit Rider No Additional Premium The Accelerated Death Benefit Rider allows the owner of the policy to access a portion of the life insurance death benefit if the insured becomes terminally ill. Terminally ill is defined as having a life expectancy of 12 months or less as determined by a licensed physician. There is no additional premium required for this benefit. The minimum benefit payable under this rider is $5,000. (In Connecticut, the minimum benefit allowed is 25% of the death benefit as shown in the policy schedule). The maximum benefit may not exceed the lesser of a) the amount shown on the Policy Schedule page, or b) 75% of the death benefit, minus the sum of any policy indebtedness. When an accelerated benefit is paid, the death benefit, cash values and loan values of the policy will be reduced accordingly. Limitations of this Rider The rider is not intended to replace any health or disability coverage. Rather, it provides an added source of funds to meet critical needs during a difficult time. You choose how the funds will best meet your needs. There are no restrictions on how an accelerated benefit payment can be used. Accelerated benefits payable under this rider may or may not be taxable. You should consult your personal tax advisor. Receipt of the accelerated benefit may affect Medicaid and Supplementary Security Income (SSI) eligibility. This explanation is designed as a short summary of the Accelerated Death Benefit Rider. Please refer to the policy for a detailed description of the benefits and terms of the rider. This rider is not available in Mississippi, New Jersey and Texas. In Michigan (5357MI) it is termed Total and Permanent Disability Benefit Rider. Page 5 of 5
Path Protector Whole Life, Composite Summary Whole Life Insurance Composite Illustration Guaranteed Premiums for the Payment Period Preferred Non-Tobacco Standard Non-Tobacco Standard Tobacco Continuous Pay $457.60 $478.93 $584.67 To Age 65 $641.10 $666.87 $752.62 20-Pay $737.51 $769.06 $955.22 10-Pay $1,254.68 $1,306.67 $1,580.80 This composite summary is provided for comparison purposes only. Any riders or additional benefits that were included in the basic illustration have also been included in this composite summary if available. The premiums shown on the 'Optional Riders' page(s) are for the basic illustration only.