Life Insurer Financial Report

Life Insurer Financial Report Includes: Custom Sort Report Sorted By: Ranking Glossary of Terms RatingScale Report Stan The Annuity Man P.O. Box 2225 Ponte Vedra Beach, FL 32004 Phone: 904-614-2001 Email: stan@stantheannuityman.com 11/19/2012

1 Teachers Ins & Ann Assoc NY A++ AA+ Aaa AAA 100 2 Northwestern Mutual Life Ins WI A++ AA+ Aaa AAA 100 3 New York Life Ins Co NY A++ AA+ Aaa AAA 100 4 New York Life Ins & Ann DE A++ AA+ Aaa AAA 100 5 Knights of Columbus CT A++ AA+ 100 6 Berkshire Hathaway Life of NE NE A++ AA+ 100 7 TIAA-CREF Life Ins Co NY A++ AA+ Aaa AAA 100 8 Berkshire Life Ins Co of Amer MA A++ AA+ 100 9 General Re Life Corporation CT A++ AA+ 100 10 Northwestern Long Term Care WI A++ AA+ Aaa AAA 100 11 Massachusetts Mutual Life Ins MA A++ AA+ Aa2 AA+ 99 12 Guardian Life Ins Co of Amer NY A++ AA+ Aa2 AA+ 99 13 USAA Life Ins Co TX A++ AA+ Aa1 AAA 99 14 Guardian Ins & Ann Co Inc DE A++ AA+ Aa2 AA+ 99 15 C M Life Ins Co CT A++ AA+ Aa2 AA+ 99 16 MML Bay State Life Ins Co CT A++ AA+ Aa2 AA+ 99 17 USAA Life Ins Co of NY NY A++ AA+ Aa1 99 18 Thrivent Financial Lutherans WI A++ AA 98 19 State Farm Life Ins Co IL A++ AA Aa1 AA+ 98 20 Thrivent Life Ins Co MN A++ AA 98 21 State Farm Life & Acc Assur Co IL A++ AA Aa1 AA+ 98 22 Western-Southern Life Assur OH A+ AA+ Aa3 AA 97 23 Western & Southern Life Ins OH A+ AA+ Aa3 AA 97 24 Integrity Life Ins Co OH A+ AA+ Aa3 AA 97 25 National Integrity Life Ins Co NY A+ AA+ Aa3 AA 97 26 Lafayette Life Ins Co OH A+ AA+ AA 97 27 Columbus Life Ins Co OH A+ AA+ Aa3 AA 97 28 Great-West Life & Ann CO A+ AA Aa3 AA 96 29 American United Life Ins Co IN A+ AA- 96 30 Penn Mutual Life Ins Co PA A+ AA- Aa3 96 31 Metropolitan Tower Life Ins Co DE A+ Aa3 96 32 First MetLife Investors Ins Co NY A+ AA- 96 33 Hannover Life Reassur Amer FL A+ AA- 96 34 State Life Ins Co IN A+ AA- 96 35 Penn Ins & Ann Co DE A+ AA- Aa3 96 36 Banner Life Ins Co MD A+ AA- 96 37 William Penn Life Ins Co of NY NY A+ AA- 96 38 First Great-West Life & Ann NY A+ AA Aa3 AA 96 39 Perico Life Ins Co DE A+ AA 96 40 Metropolitan Life Ins Co NY A+ AA- Aa3 AA- 95 Page 2 of 24

41 Sun Life Assur CN A+ AA- Aa3 AA- 95 42 AXA Equitable Life Ins Co NY A+ AA- Aa3 AA- 95 43 American Fam Assur Columbus NE A+ AA- Aa2 AA- 95 44 Jackson National Life Ins Co MI A+ AA A1 AA 95 45 RiverSource Life Ins Co MN A+ AA- Aa3 AA- 95 46 MetLife Investors USA Ins Co DE A+ AA- Aa3 AA- 95 47 MetLife Ins Co of CT CT A+ AA- Aa3 AA- 95 48 Mutual of America Life Ins Co NY A+ AA- AA- 95 49 MetLife Investors Ins Co MO A+ AA- Aa3 AA- 95 50 General American Life Ins Co MO A+ AA- Aa3 AA- 95 51 New England Life Ins Co MA A+ AA- Aa3 AA- 95 52 Transamerica Advisors Life Ins AR A+ AA- AA- 95 53 MONY Life Ins Co NY A+ AA- Aa3 AA- 95 54 Munich American Reassur Co GA A+ AA- Aa3 AA- 95 55 RiverSource Life Ins Co of NY NY A+ AA- Aa3 AA- 95 56 Jackson National Life Ins of NY NY A+ AA A1 AA 95 57 MONY Life Ins Co of Amer AZ A+ AA- AA- 95 58 Stonebridge Life Ins Co VT A+ AA- AA- 95 59 Transamerica Advisors Life NY NY A+ AA- AA- 95 60 HCC Life Ins Co IN A+ AA A1 AA 95 61 American Family Life Assur NY NY A+ AA- AA- 95 62 Ohio National Life Ins Co OH A+ AA A1 94 63 Ohio National Life Assur Corp OH A+ AA A1 94 64 John Hancock Life Ins Co USA MI A+ AA- A1 AA- 93 65 Principal Life Ins Co IA A+ A+ Aa3 AA- 93 66 Transamerica Life Ins Co IA A+ AA- A1 AA- 93 67 Monumental Life Ins Co IA A+ AA- A1 AA- 93 68 Minnesota Life Ins Co MN A+ A+ Aa3 AA- 93 69 Transamerica Financial Life NY A+ AA- A1 AA- 93 70 John Hancock Life Ins Co NY NY A+ AA- A1 AA- 93 71 Reassure America Life Ins Co IN A+ AA- A1 93 72 Swiss Re Life & Health America CT A+ AA- A1 93 73 John Hancock Life & Health Ins MA A+ AA- A1 AA- 93 74 Western Reserve Life Assur of OH OH A+ AA- A1 AA- 93 75 Securian Life Ins Co MN A+ A+ Aa3 AA- 93 76 Principal National Life Ins Co IA A+ A+ Aa3 AA- 93 77 American Life Ins Co DE DE NR AA- A1 92 78 Prudential Annuities Life Assur CT A+ AA- A+ 92 79 Midland National Life Ins Co IA A+ A+ 92 80 RGA Reins Co MO A+ AA- A+ 92 Page 3 of 24

81 Fidelity Investments Life Ins UT A+ A+ 92 82 North American Co for L&H IA A+ A+ 92 83 Pruco Life Ins Co of NJ NJ A+ AA- A+ 92 84 Globe Life And Acc Ins Co NE A+ AA- A+ 92 85 Dearborn National Life Ins Co IL A+ A+ 92 86 American Income Life Ins Co IN A+ AA- A+ 92 87 United American Ins Co NE A+ AA- A+ 92 88 Empire Fidelity Investments Life NY A+ A+ 92 89 Companion Life Ins Co NY A+ A+ 92 90 United World Life Ins Co NE A+ A+ 92 91 Fort Dearborn Life Ins Co NY NY A+ A+ 92 92 United of Omaha Life Ins Co NE A+ A+ A1 91 93 Liberty National Life Ins Co NE A+ AA- A1 A+ 91 94 Nationwide Life & Ann Ins OH A+ A+ A1 91 95 Mutual of Omaha Ins Co NE A+ A+ A1 91 96 CSI Life Ins Co NE A AA+ 91 97 UnitedHealthcare Ins Co CT A AA- A1 AA- 90 98 Allianz Life Ins Co of NY NY A AA 90 99 Protective Life & Ann Ins AL A+ AA- A 90 100 AXA Equitable Life & Ann CO A AA- AA- 90 101 Combined Life Ins Co of NY NY A AA- AA- 90 102 Prudential Ins Co of America NJ A+ AA- A2 A+ 89 103 Lincoln National Life Ins Co IN A+ AA- A2 A+ 89 104 Pacific Life Ins Co NE A+ A+ A1 A+ 89 105 Prudential Retirement Ins&Ann CT A+ AA- A2 A+ 89 106 Pruco Life Ins Co AZ A+ AA- A2 A+ 89 107 Lincoln Life & Ann Co NY NY A+ AA- A2 A+ 89 108 Pacific Life & Ann Co AZ A+ A+ A1 A+ 89 109 Primerica Life Ins Co MA A+ AA- A2 A+ 89 110 Golden Rule Ins Co IN A AA- 89 111 Aetna Life Ins Co CT A A+ A1 AA- 88 112 Combined Ins Co of America IL A AA- A2 AA- 88 113 PacifiCare Life & Health Ins IN A AA- 88 114 Blue Shield of CA Life & Hlth CA A AA- 88 115 US Financial Life Ins Co OH A AA- 88 116 Nationwide Life Ins Co OH A+ A+ A1 A 87 117 Allianz Life Ins Co N America MN A AA A2 87 118 Protective Life Ins Co TN A+ AA- A2 A 87 119 Southern Farm Bureau Life Ins MS A+ Api 87 120 COUNTRY Life Ins Co IL A+ Api 87 Page 4 of 24

121 West Coast Life Ins Co NE A+ AA- A2 A 87 122 American Fidelity Assur Co OK A+ Api 87 123 Sentry Life Ins Co WI A+ Api 87 124 Auto-Owners Life Ins Co MI A+ Api 87 125 Tennessee Farmers Life Ins Co TN A+ Api 87 126 Federated Life Ins Co MN A+ Api 87 127 Sentry Life Ins Co of New York NY A+ Api 87 128 Allstate Life Ins Co IL A+ A+ A1 A- 86 129 Allstate Life Ins Co of NY NY A+ A+ A1 A- 86 130 Lincoln Benefit Life Co NE A+ A+ A1 A- 86 131 Anthem Life Ins Co IN A A1 86 132 Savings Bank Life Ins Co of MA MA A+ A- 85 133 American Heritage Life Ins Co FL A+ A+ A- 85 134 Ameritas Life Ins Corp NE A A+ A+ 84 135 Union Central Life Ins Co NE A A+ A+ 84 136 Ann Investors Life Ins Co OH A A+ A+ 84 137 Acacia Life Ins Co DC A A+ A+ 84 138 SCOR Global Life Americas Rein DE A A+ A+ 84 139 Ameritas Life Ins Corp of NY NY A A+ A+ 84 140 First Penn-Pacific Life Ins Co IN A+ A- A2 A+ 83 141 Variable Ann Life Ins Co TX A A+ A2 A 82 142 Western National Life Ins Co TX A A+ A2 A 82 143 American General Life Ins Co TX A A+ A2 A 82 144 SunAmerica Ann & Life Assur AZ A A+ A2 A 82 145 United States Life Ins of NY NY A A+ A2 A 82 146 Standard Ins Co OR A A+ A2 A 82 147 SunAmerica Life Ins Co AZ A A+ A2 A 82 148 American General Life & Acc TN A A+ A2 A 82 149 American General Life Ins DE DE A A+ A2 A 82 150 Aviva Life & Ann Co IA A A- A1 81 151 Great American Life Ins Co OH A A+ A3 A+ 81 152 Reliance Standard Life Ins Co IL A A A2 A+ 81 153 Cincinnati Life Ins Co OH A A A+ 81 154 First Reliance Standard Life NY A A A+ 81 155 Connecticut General Life Ins CT A A A2 A 80 156 Unum Life Ins Co of Amer ME A A A2 A 80 157 American National Ins Co TX A A 80 158 AGC Life Ins Co MO A A 80 159 Life Ins Co of Southwest TX A A A2 A 80 160 National Life Ins Co VT A A A2 A 80 Page 5 of 24

161 National Western Life Ins Co CO A A 80 162 Provident Life & Acc TN A A A2 A 80 163 Life Ins of North Amer PA A A2 A 80 164 Paul Revere Life Ins Co MA A A A2 A 80 165 American Family Life Ins Co WI A A 80 166 Colonial Life & Acc Ins SC A A A2 A 80 167 First Unum Life Ins Co NY A A A2 A 80 168 Farm Bureau Life Ins Co of MI MI A Api 80 169 Gerber Life Ins Co NY A Api 80 170 United Farm Family Life Ins Co IN A Api 80 171 Erie Family Life Ins Co PA A Api 80 172 Pan-American Life Ins Co LA A A 80 173 Shelter Life Ins Co MO A Api 80 174 Provident Life & Casualty TN A A 80 175 Cigna Health & Life Ins Co CT A A A2 80 176 First Symetra Nat Life Ins NY NY A A 80 177 Cigna Life Ins Co of New York NY A A 80 178 Standard Life Ins of NY NY A A 80 179 American Nat'l Life Ins Texas TX A A 80 180 American National Life Ins NY NY A A 80 181 Cigna Worldwide Ins Co DE A A 80 182 Pan-American Assur Co LA A A 80 183 Symetra Life Ins Co WA A A A3 A+ 79 184 Liberty Life Assur of Boston NH A A- 77 185 Aviva Life & Ann Co of NY NY A A- 77 186 Hartford Internat Life Reassur CT A A- 77 187 Standard Life & Acc Ins TX A A- 77 188 Pacific Guardian Life Co Ltd HI A A- 77 189 USAble Life AR A A- 77 190 Continental Life Brentwood TN TN A A- 77 191 Zurich American Life Ins Co IL A A- A3 76 192 Horace Mann Life Ins Co IL A A A3 A- 76 193 Hartford Life Ins Co CT A A- A3 A- 75 194 ING USA Ann & Life Ins Co IA A A- A3 A- 75 195 ING Life Ins & Ann CT A A- A3 A- 75 196 Genworth Life Ins Co DE A A- A3 A- 75 197 Genworth Life & Ann Ins VA A A- A3 A- 75 198 ReliaStar Life Ins Co MN A A- A3 A- 75 199 Security Life of Denver Ins Co CO A A- A3 A- 75 200 Hartford Life & Acc Ins CT A A- A3 A- 75 Page 6 of 24

201 Genworth Life Ins Co NY NY A A- A3 A- 75 202 ReliaStar Life Ins Co of NY NY A A- A3 A- 75 203 Columbian Life Ins Co IL A- Aa1 75 204 Hartford Life & Ann Ins CT A BBB+ A3 A- 73 205 Sun Life Assur Co of CA (US) DE A BBB+ A3 A- 73 206 Sun Life Ins & Ann of NY NY A BBB+ A- 73 207 Sierra Hlth & Life Ins Co Inc CA A- AA- 73 208 Employers Reassur Corp KS A- A+ 70 209 UNICARE Life & Health Ins Co IN A- BBB AA- 70 210 Union Security Ins Co KS A- A- A3 A 69 211 United Ins Co of America IL A- A A3 A- 69 212 American Bankers Life Assur Co FL A- A- A3 A 69 213 Central Reserve Life OH A- A+ 68 214 Humana Ins Co WI A- A- A3 A- 67 215 American Memorial Life Ins Co SD A- A- A 67 216 Reliable Life Ins Co MO A- A A- 67 217 Union National Life Ins Co LA A- A A- 67 218 Commonwealth Ann & Life MA A- A- A3 66 219 Forethought Life Ins Co IN A- A- A3 66 220 Americo Financial Life & Ann TX A- A- A3 66 221 First Allmerica Financial Life MA A- A- A3 66 222 National Guardian Life Ins Co WI A- Api 65 223 MTL Ins Co IL A- A 65 224 Trustmark Ins Co IL A- Api 65 225 Generali USA Life Reassur MO A- A 65 226 Time Ins Co WI A- BBB A3 A- 65 227 American Republic Ins Co IA A- Api 65 228 John Alden Life Ins Co WI A- BBB A3 A- 65 229 Loyal American Life Ins Co OH A- A 65 230 Settlers Life Ins Co WI A- Api 65 231 Trustmark Life Ins Co IL A- Api 65 232 Midwestern United Life Ins Co IN A- A- 63 233 Columbia Capital Life Reins Co DC A- A3 63 234 First Rehabilitation Life of Am NY A- A- 63 235 Humana Ins Co of KY KY A- A- 63 236 American Equity Invest Life IA A- BBB+ BBB+ 62 237 Paul Revere Variable Ann MA B++ A2 A 62 238 Homesteaders Life Co IA A- BBBpi 59 239 First Investors Life Ins Co NY A- BBBpi 59 240 Pekin Life Ins Co IL A- BBBpi 59 Page 7 of 24

241 Vantis Life Ins Co CT A- BBBpi 59 242 Government Personnel Mutual TX A- BBBpi 59 243 Fidelity Security Life Ins Co MO A- BBBpi 59 244 Lincoln Heritage Life Ins Co IL A- BBBpi 59 245 AAA Life Ins Co MI A- BBBpi 59 246 Standard Security Life of NY NY A- BBBpi 59 247 Central States H&L Co of Omaha NE A- BBBpi 59 248 American Equity Invest Life NY NY A- BBB+ 59 249 Independence Life & Ann Co RI A- BBB+ 59 250 Madison Natl Life Ins Co Inc WI A- BBpi 57 251 Auto Club Life Ins Co MI A- BBpi 57 252 Motorists Life Ins Co OH A- BBpi 57 253 Grange Life Ins Co OH A- BBpi 57 254 American Public Life Ins Co OK A- Bpi 57 255 Continental General Ins Co OH B++ A+ 56 256 Fidelity & Guaranty Life Ins MD B++ BB Ba1 BBB 55 257 Bankers Life & Casualty Co IL B++ BB+ Baa3 BBB 55 258 Colonial Penn Life Ins PA B++ BB+ Baa3 BBB 55 259 Investors Ins Corp DE B++ A 53 260 Washington National Ins Co IN B++ BB+ Baa3 52 261 Bankers Conseco Life Ins NY B++ BB+ BBB 52 262 Phoenix Life Ins Co NY B+ BB- Ba2 BB+ 51 263 PHL Variable Ins Co CT B+ BB- Ba2 BB+ 51 264 Security Benefit Life Ins Co KS B++ A- 50 265 MedAmerica Ins Co PA B++ A- 50 266 MedAmerica Ins Co of New York NY B++ A- 50 267 First Security Benefit L&A NY NY B++ A- 50 268 MedAmerica Ins Co of Florida FL B++ A- 50 269 Conseco Life Ins Co IN B- B+ Ba1 BB+ 48 270 Athene Ann & Life Assur Co DE B++ BBB+ 47 271 EquiTrust Life Ins Co IA B++ BBB+ 47 272 Kanawha Ins Co SC B++ BBB+ 47 273 United Teacher Associates Ins TX B++ BBB 47 274 Fidelity & Guar Life Ins Co NY NY B++ BBB 47 275 Pyramid Life Ins Co KS B++ BBB 46 276 American Progressive L&H NY NY B++ BBB 46 277 Union Labor Life Ins Co MD B++ BBpi 45 278 Health Net Life Ins Co CA B++ BBB- 45 279 Humana Ins of Puerto Rico Inc PR B+ A- 43 280 American Pioneer Life Ins Co FL B+ BBB 39 Page 8 of 24

281 Phoenix Life & Ann Co CT B+ BB+ 39 282 New Era Life Ins Co TX B+ Bpi 37 283 Guarantee Trust Life Ins Co IL B+ Bpi 37 284 New Era Life Ins Co Midwest TX B+ Bpi 37 285 Equitable Life & Casualty UT B Bpi 33 286 Union Fidelity Life Ins Co KS A- 287 CMFG Life Ins Co IA A 288 Modern Woodmen of America IL A+ 289 Woodmen of the World Life Soc NE A+ 290 Farm Bureau Life Ins Co IA A- 291 Farmers New World Life Ins Co WA A 292 Guggenheim Life & Ann Co DE B++ 293 Brooke Life Ins Co MI A+ 294 Philadelphia Finl Life Assur PA A- 295 Presidential Life Ins Co NY B++ 296 Kansas City Life Ins Co MO A 297 Continental Assur Co IL A- 298 Beneficial Life Ins Co UT A- 299 Aurora National Life Assur CA 300 Wilton Reassur Co MN A 301 Security Mutual Life of NY NY A- 302 Assurity Life Ins Co NE A- 303 Cigna Arbor Life Ins Co CT A 304 Aetna Health & Life Ins Co CT A+ 305 Jefferson National Life Ins Co TX B+ 306 Centre Life Ins Co MA 307 Physicians Mutual Ins Co NE A 308 Reinsurance Co of Missouri MO 309 United Life Ins Co IA A- 310 United Investors Life Ins Co NE NR 311 SBLI USA Mutual Life Ins Co NY NR 312 Centurion Life Ins Co IA NR 313 Gleaner Life Ins Society MI A- 314 LifeCare Assur Co AZ 315 AXA Corporate Solutions Life Re DE B++ 316 Liberty Bankers Life Ins Co OK B- 317 Blue Cross & Blue Shield KS KS A 318 Physicians Life Ins Co NE A 319 Catholic Financial Life WI NR 320 Columbian Mutual Life Ins Co NY A- Page 9 of 24

321 Illinois Mutual Life Ins Co IL B++ 322 Alfa Life Ins Corp AL A 323 Wilton Reassur Life Co NY NY A 324 American Health & Life Ins TX A- 325 Farm Family Life Ins Co NY A 326 Boston Mutual Life Ins Co MA A- 327 Amica Life Ins Co RI A+ 328 EMC National Life Co IA B++ 329 GBU Financial Life PA B++ 330 Baltimore Life Ins Co MD B++ 331 Catholic Life Ins TX A- 332 Sagicor Life Ins Co TX A- 333 Catholic Order of Foresters IL B++ 334 Greek Catholic Union of USA PA NR 335 Conseco Life Ins Co of Texas TX 336 Ability Ins Co NE B+ 337 Household Life Ins Co of AZ AZ 338 Texas Life Ins Co TX A 339 Funeral Directors Life Ins Co TX A- 340 Royal Neighbors of America IL A- 341 Monarch Life Ins Co MA E 342 United Fidelity Life Ins Co TX 343 Household Life Ins Co MI B++ 344 Investors Life of North Amer TX B+ 345 Oxford Life Ins Co AZ B++ 346 Ozark National Life Ins Co MO MO B++ 347 First Catholic Slovak Ladies OH A- 348 Protective Life Ins NY NY NR 349 Reliance Standard Life of TX TX 350 WEA Ins Corporation WI BBpi 351 Automobile Club of Sthrn CA Life CA A- 352 Merit Life Ins Co IN B 353 National Slovak Society of US PA NR-5 354 Household Life Ins Co of DE DE 355 CICA Life Ins Co of America CO 356 First Health Life & Health Ins TX B++ 357 National Benefit Life Ins Co NY A+ 358 Great Western Ins Co UT B+ 359 Guaranty Income Life Ins Co LA B 360 Family Heritage Life of Amer OH B++ Page 10 of 24

361 Pioneer Mutual Life Ins Co ND A+ 362 United Heritage Life Ins Co ID A- 363 HM Life Ins Co PA A- 364 London Life Reins Co PA A 365 Fidelity Life Association IL A- 366 Employees Life Co (Mutual) IL B 367 American Fidelity Life Ins Co FL B++ 368 Investors Heritage Life Ins Co KY B+ 369 Farm Bureau Life Ins Co of MO MO A- 370 Mutual Savings Life Ins Co AL A- 371 American-Amicable Life Ins TX TX A- 372 Polish Nat'l Alliance of US NA IL NR-5 373 Universal Life Ins Co PR B++ 374 Family Service Life Ins Co TX A 375 Triple-S Vida Inc PR B++ 376 Security National Life Ins Co UT 377 Harleysville Life Ins Co PA A- 378 Croatian Fraternal Union PA NR-5 379 Everence Association Inc IN NR-5 380 Sunset Life Ins Co of America MO A- 381 Cooperativa de Seguros de Vida PR C++ 382 SCOR Global Life Re Ins Co TX TX A 383 Pacific Beacon Life Reassur HI A- 384 Educators Life Ins of America IL 385 MEGA Life & Health Ins Co OK B++ 386 Trans World Assur Co CA B++ 387 Manhattan Life Ins Co NY B+ 388 Sons of Norway MN NR-5 389 National Teachers Associates TX B++ 390 Cotton States Life Ins Co GA A- 391 Security Plan Life Ins Co LA 392 Central United Life Ins Co AR B+ 393 American Life & Acc of KY KY 394 Park Avenue Life Ins Co DE A 395 Union Bankers Ins Co TX B+ 396 State Mutual Ins Co GA B+ 397 National Farm Life Ins Co TX B++ 398 Unimerica Ins Co WI A 399 First Catholic Slovak Union OH 400 World Ins Co NE A- Page 11 of 24

401 Occidental Life Ins Co of NC TX A- 402 American Slovenian Cath Union IL NR-5 403 Church Life Ins Corporation NY A- 404 Western Fraternal Life Assoc IA NR-5 405 COUNTRY Investors Life Assur IL A+ 406 Great Southern Life Ins Co TX B+ 407 William Penn Association PA B++ 408 Old American Ins Co MO B++ 409 Capitol Life Ins Co TX B- 410 National Farmers Union Life TX B+ 411 General Fidelity Life Ins Co SC NR 412 Sons of Hermann in Texas TX 413 5 Star Life Ins Co LA A- 414 SPJST TX B 415 American Home Life Ins Co KS B++ 416 United Transportation Union OH NR 417 Best Meridian Ins Co FL A- 418 National Security Life & Ann NY A 419 Degree of Honor Protect Assoc MN 420 Colorado Bankers Life Ins Co CO A 421 United States Letter Carriers TN NR-5 422 NYLIFE Ins Co of Arizona AZ A++ 423 Manhattan National Life Ins Co IL A- 424 Nippon Life Ins Co of Amer IA A- 425 Philadelphia American Life Ins TX B+ 426 Slovene National Benefit Soc PA NR 427 Southland National Ins Corp AL NR 428 Companion Life Ins Co SC A+ 429 Polish Roman Catholic Union IL NR 430 IA American Life Ins Co GA A- 431 American General Assur Co IL A 432 Ukrainian National Assoc NJ 433 Loyal Christian Benefit Assoc PA NR-5 434 Athene Life Ins Co IN NR 435 4 Ever Life Ins Co IL A- 436 Union Security Life Ins NY NY A- 437 Continental American Ins Co SC A+ 438 Caterpillar Life Ins Co MO 439 Unified Life Ins Co TX B++ 440 North Carolina Mutual Life Ins NC C++ Page 12 of 24

441 Sentinel Security Life Ins Co UT B++ 442 LifeSecure Ins Co MI NR 443 Universal Underwriters Life KS A 444 Jamestown Life Ins Co VA 445 Old Republic Life Ins Co IL B++ 446 First United American Life Ins NY A+ 447 Mid-West National Life of TN TX B++ 448 Multinational Life Ins Co PR B+ 449 Delaware American Life Ins Co DE A- 450 North Coast Life Ins Co WA C+ 451 National Catholic of Foresters IL NR-5 452 Unity Financial Life Ins Co OH B+ 453 Family Life Ins Co TX B+ 454 CSA Fraternal Life IL NR-5 455 Charter National Life Ins Co IL B++ 456 United Security Assur Co of PA PA B 457 Bankers Fidelity Life Ins Co GA A- 458 Reserve National Ins Co OK A- 459 Police & Firemen's Assoc IN NR-5 460 Garden State Life Ins Co TX A 461 Berkley Life & Health Ins Co IA A+ 462 Catholic Holy Family Society IL NR-5 463 Forethought National Life Ins TX 464 HumanaDental Ins Co WI A- 465 Eagle Life Ins Co IA A- 466 Professional Ins Co TX B++ 467 Portuguese Fraternal Soc of Am CA NR 468 Supreme Council Royal Arcanum MA 469 Atlantic Coast Life Ins Co SC B+ 470 Sears Life Ins Co TX A- 471 Life Ins Co of Alabama AL B+ 472 LifeWise Assur Co WA A- 473 Bankers Life Ins Co FL B 474 Life Ins Co of Boston & NY NY A- 475 Optimum Re Ins Co TX A- 476 Medico Ins Co NE B+ 477 Southern Life & Health Ins WI 478 Regence Life & Health Ins Co OR A- 479 Atlanta Life Ins Co GA B- 480 American Underwriters Life Ins AZ B Page 13 of 24

481 Christian Fidelity Life Ins Co TX B++ 482 Security Life Ins Co of Amer MN B++ 483 Luso-American Life Ins Society CA NR 484 American Continental Ins Co TN A 485 Pioneer Security Life Ins Co TX A- 486 National Income Life Ins NY A+ 487 Amalgamated Life Ins Co NY A 488 Central Security Life Ins Co TX 489 Parker Centennial Assur Co WI A+ 490 Old United Life Ins Co AZ A 491 Service Life & Casualty Ins Co TX B+ 492 Southern Financial Life Ins Co LA 493 American Benefit Life OK B- 494 Life of the South Ins Co GA B++ 495 Celtic Ins Co IL B++ 496 United Home Life Ins Co IN A- 497 Pharmacists Life Ins Co IA B+ 498 American Medical Security Life WI A 499 Sun Life & Health Ins Co US CT A+ 500 American Maturity Life Ins Co CT A- 501 Popular Life Re PR B+ 502 American Modern Life Ins Co OH A- 503 Citizens Fidelity Ins Co AR 504 Woodmen of the World CO 505 MEMBERS Life Ins Co IA B++ 506 Pioneer American Ins Co TX A- 507 Mutual Beneficial Assoc Inc DE 508 Constitution Life Ins Co TX B+ 509 Polish Womens Alliance of Amer IL 510 LifeShield National Ins Co OK B++ 511 Germania Life Ins Co TX B++ 512 EPIC Life Ins Co WI 513 First Central Nat Life of NY NY B++ 514 Laurel Life Ins Co TX 515 Individual Assur Life Hlth & Acc MO B+ 516 Balboa Life Ins Co CA A- 517 Financial American Life Ins Co KS B++ 518 Greater Georgia Life Ins Co GA A 519 National Security Ins Co AL B 520 Chesapeake Life Ins Co OK B++ Page 14 of 24

521 Bluebonnet Life Ins Co MS A 522 Advance Ins Co of Kansas KS A 523 HM Life Ins Co NY NY A- 524 Caribbean American Life Assur PR A- 525 Royal State National Ins Co HI B+ 526 Trans-Oceanic Life Ins Co PR B++ 527 Fidelity Security Life Ins NY NY A- 528 ACE Life Ins Co CT A- 529 Starmount Life Ins Co LA B++ 530 Cincinnati Equitable Life OH B+ 531 Vista Life Ins Co MI 532 Champions Life Ins Co TX 533 Landcar Life Ins Co UT A- 534 Workmen's Benefit Fund of USA NY 535 Florida Combined Life Ins Co FL A 536 Freedom Life Ins Co of Amer TX B- 537 Resource Life Ins Co IL NR 538 Sentinel American Life Ins Co TX A 539 Western American Life Ins Co TX 540 CompBenefits Ins Co TX A- 541 Unimerica Life Ins Co of NY NY A 542 Baptist Life Association NY NR-5 543 First Assur Life of America LA A- 544 Intramerica Life Ins Co NY B++ 545 National Foundation Life Ins TX B- 546 Lewer Life Ins Co MO B 547 North American Natl Re Ins Co AZ 548 Commercial Travelers Mutual NY B 549 Performance Life of America LA A- 550 CareAmerica Life Ins Co CA A- 551 First Command LIC TX 552 American Indep Network of NY NY NR 553 Brokers National Life Assur AR A- 554 North American Ins Co WI B++ 555 Cherokee National Life Ins Co GA A- 556 Citizens Security Life Ins Co KY B- 557 World Corp Ins Co NE A- 558 American Medical & Life Ins NY C++ 559 Medical Benefits Mutual Life OH B+ 560 Standard Life & Casualty Ins UT B Page 15 of 24

561 Southern Pioneer Life Ins Co AR A- 562 Direct General Life Ins SC B 563 American Republic Corp Ins Co NE A- 564 Investors Growth Life Ins Co AZ 565 American Federated Life Ins MS B+ 566 United Security Life & H Ins Co IL C- 567 Doctors Life Ins Co CA NR 568 Midwest Security Life Ins Co WI A- 569 United Commercial Travelers OH B+ 570 Provident American Life & Hlth OH A- 571 Continental Life Ins Co PA PA 572 Senior American Life Ins Co PA D 573 Preneed Reins Co of Amer AZ 574 Anthem Life & Disability Ins Co NY A 575 American Phoenix Life&Reassur CT B+ 576 American Farmers & Ranchers Life OK 577 IdeaLife Ins Co CT A- 578 Plateau Ins Co TN A- 579 SWBC Life Ins Co TX B++ 580 Balboa Life Ins Co of NY NY A- 581 Wichita National Life Ins Co OK B+ 582 First Berkshire Hathaway Life NY A+ 583 Sterling Investors Life Ins Co GA B 584 Trans-City Life Ins Co AZ B+ 585 Gulf Guaranty Life Ins Co MS B- 586 Servco Life Ins Co TX B+ 587 Great American Life Assur Co OH B++ 588 Atlantic Southern Ins Co PR C++ 589 Colonial Life Ins Co of Texas TX 590 Symetra National Life Ins Co WA 591 Physicians Benefits Trust Life IL 592 Allianz Life & Ann Co MN A 593 Investors Consolidated Ins Co NH B+ 594 All Savers Ins Co IN 595 Ullico Life Ins Co TX NR 596 Associated Mutual MI B+ 597 WMI Mutual Ins Co UT 598 Missouri Valley Life & Health MO 599 Kentucky Funeral Directors Life KY B+ 600 BEST Life & Health Ins Co TX B Page 16 of 24

601 S USA Life Ins Co AZ NR 602 Westport Life Ins Co AZ B+ 603 Dallas General Life Ins Co TX B++ 604 Citizens National Life Ins Co TX 605 Mountain Life Ins Co TN B+ 606 Surety Life Ins Co NE A+ 607 Ohio State Life Ins Co TX B+ 608 RightCHOICE Ins Co IL 609 Bankers Life of Louisiana LA B++ 610 Monitor Life Ins Co NY B++ 611 All Savers Life Ins Co of CA CA 612 XL Life Ins & Ann Co IL NR 613 Century Life Assur Co OK B 614 Allstate Assur Co IL 615 Life Protection Ins Co TX 616 PEMCO Life Ins Co WA B+ 617 Zale Life Ins Co AZ B+ 618 Travelers Protec Assoc of Amer MO 619 Universal Fidelity Life Ins Co OK NR 620 Omaha Ins Co NE NR 621 Omaha Life Ins Co NE NR 622 Pan-American Life Ins Co of PR PR NR 623 Financial Assur Life Ins TX 624 Life of America Ins Co TX NR 625 Patriot Life Ins Co MI A 626 Ohio Motorists Life Ins Co OH 627 Hallmark Life Ins Co AZ 628 United National Life of Amer IL 629 HealthMarkets Ins Co OK 630 Molina Healthcare Ins Co OH 631 Marquette Indemnity & Life Ins AZ 632 State Farm Health Ins Co IL 633 Heritage Union Life Ins Co MN 634 Commonwealth Dealers Life Ins VA B+ 635 National Health Ins Co TX NR 636 Regal Reins Co MA 637 USAA Direct Life Ins Co NE NR 638 Niagara Life & Health Ins Co NY A+ 639 Life Ins Co of Louisiana LA B+ 640 Commencement Bay Life Ins Co WA Page 17 of 24

641 Enterprise Life Ins Co TX NR 642 Heartland National Life Ins Co IN NR 643 Trustmark Life Ins Co of NY NY A- 644 Amalgamated Life & Health IL 645 Vantis Life Ins Co of NY NY A- 646 American Retirement Life Ins OH B++ 647 Marquette National Life Ins Co TX B+ 648 Life Assur Co OK 649 Pruco Ins Co of Iowa IA NR 650 Kentucky Home Life Ins Co KY 651 Texas Directors Life Ins Co TX 652 First National Life of USA NE NR 653 Censtat Life Assur Co AZ A- 654 Versant Life Ins Co MS B++ 655 Securitas Financial Life Ins NC 656 USIC Life Ins Co PR B+ 657 Town & Country Life Ins Co UT 658 Surency Life & Health Ins Co KS NR 659 Emphesys Ins Co TX 660 Philadelphia Finl Life Assur NY NY A- 661 TransAm Assur Co AZ B+ 662 Great Fidelity Life Ins Co IN 663 Island Ins Corp PR NR 664 Jefferson Life Ins Co TX 665 American Financial Security MO 666 Southern Financial Life Ins Co KY B++ 667 Direct Life Ins Co GA NR 668 North America Swiss Alliance OH NR 669 United International Life Ins OK 670 Gulf States Life Ins Co Inc LA 671 United Benefit Life Ins Co OH 672 Windsor Life Ins Co TX 673 American Farm Life Ins Co TX 674 Colonial Security Life Ins Co TX 675 Magna Ins Co MS NR 676 Sheridan Life Ins Co OK 677 Great Western Life Ins Co MT 678 Univantage Ins Co UT 679 Better Life & Health Co AZ 680 Modern Life Ins Co of Arizona AZ Page 18 of 24

681 Southern Security Life Ins Co MS 682 Preservation Life Ins Co MO 683 Memorial Ins Co of Amer AR 684 Southwest Credit Life Inc NM 685 Arkansas Life Ins Co AZ 686 Guarantee Security Life of AZ AZ 687 Tennessee Life Ins Co AZ 688 American Service Life Ins Co AR 689 SEB Trygg Life (USA) Assur Ltd AZ 690 Pekin Financial Life Ins Co AZ 691 Connecticut Life Ins & Ann AZ 692 Capitol Life & Acc Ins Co AR 693 Programmed Life Ins Co AZ 694 Union Life Ins Co AR 695 Ouachita Life Ins Co AR Page 19 of 24

VitalSigns Glossary of Terms Ratings The ratings from five rating services are presented, if available. The composite index,, is the average percentile ranking of all of the ratings received by a company. The Ranking indicates on a scale of 1 to 100 where the company ranks among 1,100 companies that have been rated. Watch list identifiers follow the ratings if the company is on the rating service's watch list. The identifier indicates a possible upgrade (w+), downgrade (w-), or unknown change (w). The Numerical Equivalence is the number which is shown in parentheses next to each rating indicating where that rating ranks within that particular rating service's scale. The total number of ratings available is listed in parentheses after the ratings service. Assets Analysis Total Admitted Assets: Assets permitted to be included in an insurance company's annual statement. This item also includes separate accounts. Total Liabilities: Funds required for payment of future claims and expenses, including Asset Valuation Reserve (AVR). Separate Accounts: Assets dedicated and matched to specific liabilities, such as variable life insurance policies. Total Surplus & AVR: The sum of Capital and Surplus, and Asset Valuation Reserve (AVR). AVR is the reserve for potential losses in invested assets. Surplus & AVR as % of General Account Assets: Total Surplus & AVR as a percent of general account assets. Higher numbers represent greater protection for the policyholder. Invested Assets: Total income-producing assets. Invested Assets refer to things such as bonds, stocks, cash, and income-producing real estate. Distribution of Invested Assets: The percentage of each category of investments to the total invested assets. Net Yield on Mean Invested Assets: Net investment income expressed as a percent of mean cash and invested assets plus accrued investment income minus borrowed money. Total Investment Return: The net yield plus realized and unrealized capital gains and losses, minus transfers to Interest Maintenance Reserve (IMR), plus amortization of IMR. Asset Growth: 1-year and 3-year compound growth for Total Admitted Assets and Total Surplus & AVR. Asset Quality Analysis Non-Investment Grade Bonds (Class 3-6): The NAIC divides bonds into six categories. Classes 1 and 2 are considered investment grade, classes 3 through 6 are below investment grade. Generally, non-investment grade bonds carry higher default and illiquidity risks. Page 20 of 24

VitalSigns Glossary of Terms Non-Investment Grade Bonds / Total Bonds: The sum of bonds in classes 3 through 6 divided by Total Bonds. Non-Investment Grade Bonds / Surplus & AVR: The sum of bonds in classes 3 through 6 divided by Surplus & AVR. Non-Performing Bonds / Total Bonds: Class 6 bonds are "In or Near Default". This is the percentage of the bond portfolio that is considered non-performing. Non-Performing Bonds / Surplus & AVR: Class 6 bonds divided by Surplus & AVR. Non-Performing Mortgages & Real Estate / Total Mortgages & Real Estate: This is the percentage of the mortgage and real estate portfolio that is considered non-performing. This includes mortgages that are 90 days overdue or in foreclosure and real estate acquired through foreclosure. Non-Performing Mortgages & Real Estate / Surplus & AVR: Mortgages 90 days overdue or in foreclosure and foreclosed real estate divided by Surplus & AVR. Non-Performing Assets / Surplus & AVR: Bonds in or near default (Class 6), Mortgages 90 days overdue or in foreclosure, and real estate acquired by foreclosure are each presented as a percent of Surplus & AVR. Total Non-Performing Assets / Surplus & AVR: Total non-performing bonds, mortgages and real estate as a percent of Surplus & AVR, and then as a percentage of invested assets. Bond Portfolio Analysis Total Bonds Book and Market Value: The total book value and market value of bonds, and the ratio of market value to book value. Bond Quality Distribution: The percentage of bonds in each of the six NAIC classes. Weighted Bond Class: Indicates the average NAIC class for each dollar invested in bonds. Bond Maturity Distribution: The distribution of bonds by number of years to maturity. Weighted Bond Maturity: Indicates the average number of years to maturity for each dollar invested in bonds. Operating Income Analysis Total Income: Total income from all sources. Total General Expenses: Total general expenses incurred. This includes investment expenses. Total General Expenses / Total Income: Total general expenses as a percent of total income. Earnings Before Policy Dividends and Taxes: Net gain from operations before policy dividends and federal income taxes. Policy Dividends: Amount paid out as policy dividends, and as a percent of earnings. Page 21 of 24

VitalSigns Glossary of Terms Pretax Earnings from Operations: Net gain from operations after policy dividends and before federal income taxes. Federal Income Taxes: Amount paid in federal income tax, and as a percent of pretax earnings. Net Earnings from Operations: Earnings before policy dividends and taxes minus policy dividends and federal income taxes. Net Realized Capital Gains: The total capital gain (or loss) on assets sold during the year. Net Income: The total after-tax earnings generated from operations and realized capital gains. Net Income as % of Admitted Assets: Net Income divided by total admitted assets. Unrealized Capital Gains: The total capital gain (or loss) on assets that remain in the investment portfolio. Premium Growth Premium Growth: 1-year and 3-year compound growth for Total Premium Income (premiums and annuity considerations only) and Ordinary Life Premium. Profitability Return on Assets: Net Earnings from Operations divided by the prior year's Total Admitted Assets. Return on Equity: Net Earnings from Operations divided by the prior year's Capital & Surplus. Lapse Ratio: The percentage of ordinary life policies that lapsed during the year, and the average for three years. Interest Margin: Net Investment Income and Required Interest are as reported. The Interest Margin is the Net Investment Income less Required Interest as a percent of Required Interest. Ordinary Life Expenses/Premiums: Ordinary Life insurance expenses as a percent of Ordinary Life Premiums. Total General Expenses / Total Income: Total general expenses as a percent of total income. Commissions & General Exp./Total Income: Commissions and total general expenses as a percent of Total Income. Analysis of Face Amount of Insurance Total Insurance In Force: The dollar amount of life insurance that a company has issued. In Force Distribution: Each category (ordinary, group and other) is presented as a percent of the total amount in force. Total Reinsurance Ceded: Total face amount of insurance ceded to reinsurers. Page 22 of 24

VitalSigns Glossary of Terms % of In Force Ceded: Each category (ordinary, group and other) is presented as a percent of the total face amount of insurance in force in that category. Average Policy Size: The number of ordinary life policies and the average policy size for total in force and new policies issued. Analysis by Line of Business Net Premiums Written: The total premium written, direct and reinsurance assumed, less reinsurance ceded. Distribution: Each category is presented as a percent of the net premium income. Net Earnings from Operations: Net earnings after dividends and taxes. Distribution: Each category is presented as a percent of the net gain from operations. Page 23 of 24

List of Possible Ratings Standard & A.M. Best Poor's Moody's Fitch Ratings Weiss 1. A++ AAA Aaa AAA A+ Superior Extemely Strong Exceptional Exceptionally StrongExcellent 2. A+ AA+ Aa1 AA+ A Superior Very Strong Excellent Very Strong Excellent 3. A AA Aa2 AA A- Excellent Very Strong Excellent Very Strong Excellent 4. A- AA- Aa3 AA- B+ Excellent Very Strong Excellent Very Strong Good 5. B++ A+ A1 A+ B Very Good Strong Good Strong Good 6. B+ A A2 A B Good Strong Good Strong Good 7. B A- A3 A- C+ Fair Strong Good Strong Fair 8. B- BBB+ Baa1 BBB+ C Fair Good Adequate Good Fair 9. C++ BBB Baa2 BBB C- Marginal Good Adequate Good Fair 10. C+ BBB- Baa3 BBB- D+ Marginal Good Adequate Good Weak 11. C BB+ Ba1 BB+ D Weak Marginal Questionable Moderately Weak Weak 12. C- BB Ba2 BB D- DWeak Marginal Questionable Moderately Weak Weak 13. D BB- Ba3 BB- E+ Poor Marginal Questionable Moderately Weak Very Weak 14. E B+ B1 B+ E Under State Supervision Weak Poor Weak Very Weak 15. F B B2 B E- In Liquidation Weak Poor Weak Very Weak 16. B- B3 B- F Weak Poor Weak Failed 17. CCC+ Caa1 CCC+ Very Weak Very Poor Very Weak 18. CCC Caa2 CCC Very Weak Very Poor Very Weak 19. CCC- Caa3 CCC- Very Weak Very Poor Very Weak 20. CC Ca CC Extremely Weak Extremely Poor Extremely Weak 21. C C Lowest Distressed Page 24 of 24