Participation
Agreement

as of May 1, 2016 

Franklin Templeton Variable Insurance Products Trust 

Franklin/Templeton Distributors, Inc. 

MEMBERS Life Insurance Company 

CUNA Brokerage Services, Inc.


 


CONTENTS


 


	Section	Subject Matter



 


		1.	Parties and Purpose






		2.	Representations and Warranties






		3.	Purchase and Redemption of Trust Portfolio Shares






		4.	Fees, Expenses, Prospectuses, Proxy Materials and Reports






		5.	Voting






		6.	Sales Material, Information and Trademarks






		7.	Indemnification






		8.	Notices






		9.	Termination






		10.	Miscellaneous



 


Schedules to this Agreement


 


		A.	The Company and its Distributor






		B.	Accounts of the Company






		C.	Available Portfolios and Classes of Shares of the Trust






		D.	Contracts of the Company






		E.	[this schedule is not used]






		F.	Rule 12b-1 Plans of the Trust






		G.	Addresses for Notices






		H.	Shared Funding Order



 


		1.	Parties
and Purpose



 


This
agreement (the “Agreement”) is entered by and between certain portfolios and classes thereof, specified below and in
Schedule C, of Franklin Templeton Variable Insurance Products Trust, an open-end management investment company organized as a statutory
trust under Delaware law (the “Trust”), Franklin/Templeton Distributors, Inc., a California corporation which is the
principal underwriter for the Trust (the “Underwriter,” and together with the Trust, “we” or “us”),
the insurance company identified on Schedule A (the “Company” or “you”) and your distributor, on your own
behalf and on behalf of each segregated asset account maintained by you that is listed on Schedule B, as that schedule may be amended
from time to time (“Account” or “Accounts”).


 




     


     


    


 


that
it will comply with all applicable requirements under the regulations implementing Title V of the Gramm-Leach-Bliley Act and any
other applicable federal and state consumer privacy acts, rules and regulations. Each party further represents that it has in place,
and agrees that it will maintain, information security policies and procedures for protecting nonpublic personal customer information
adequate to conform to applicable legal requirements.


 


IN
WITNESS WHEREOF, each of the parties has caused their duly authorized officers to execute this Agreement effective as of May
1, 2016.


 


	The Trust:	Franklin Templeton Variable Insurance
    Products Trust





Only on behalf of each 

Portfolio listed on 

Schedule C hereof.


 


	 	By:	 
	 	Name:	Karen L. Skidmore 
	 	Title:	Vice President


 


	The Underwriter:	Franklin/Templeton Distributors, Inc.



 





	 	By:	 
	 	Name:	Christopher A. Felchlin 
	 	Title:	Vice President


 


	The Company:	MEMBERS Life Insurance Company



 





	 	By:	 
	 	Name:	M. Jeffrey Bosco 
	 	Title:	Senior Vice President


 

	Distributor for the Company:	CUNA Brokerage Services, Inc.


 





	 	By:	 
	 	Name:	Timothy S. Halevan 
	 	Title:	President


 




     


     


    


 


that
it will comply with all applicable requirements under the regulations implementing Title V of the Gramm-Leach-Bliley Act and any
other applicable federal and state consumer privacy acts, rules and regulations. Each party further represents that it has in place,
and agrees that it will maintain, information security policies and procedures for protecting nonpublic personal customer information
adequate to conform to applicable legal requirements.


 


IN
WITNESS WHEREOF, each of the parties has caused their duly authorized officers to execute this Agreement effective as of May
1, 2016.


 


	The Underwriter:	Franklin/Templeton Distributors, Inc.


 


	 	By:	 
	 	Name:	Thomas Regner
	 	Title:	Executive Vice President