# EDGAR Filing Document

**Accession Number:** 0001562577
**File Stem:** 0001562577-25-000271
**Filing Date:** 2025-12
**Character Count:** 396947
**Document Hash:** 9a0e551bec96682a3255ef6a75fc9b4c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001562577-25-000271.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0001562577-25-000271

**CONFORMED SUBMISSION TYPE**: 485APOS

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20251219

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MEMBERS Life Insurance Co
- **CENTRAL INDEX KEY:** 0001562577
- **STANDARD INDUSTRIAL CLASSIFICATION:** LIFE INSURANCE [6311]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 391236386
- **STATE OF INCORPORATION:** IA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485APOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-283638
- **FILM NUMBER:** 251585087

**BUSINESS ADDRESS:**
- **STREET 1:** 2000 HERITAGE WAY
- **CITY:** WAVERLY
- **STATE:** IA
- **ZIP:** 50677
- **BUSINESS PHONE:** 608.238.5851

**MAIL ADDRESS:**
- **STREET 1:** 5910 MINERAL POINT ROAD
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53705

## Series and Classes Contracts Data

### MEMBERS Life Insurance Co (Series ID: S000089882)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000257765 | TruStage ZoneChoice Advantage Annuity |  |

As filed with the Securities and Exchange Commission on December 19, 2025

Registration No. 333-283638

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-4**

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

Pre-Effective Amendment No. [ ]

Post-Effective Amendment No. 1 [X]

(Check appropriate box or boxes.)

-----------------------------------

**MEMBERS Life Insurance Company**

(Name of Insurance Company)

**2000 Heritage Way**

**Waverly, Iowa 50677**

(Address of Insurance Company's Principal Executive Offices) (Zip Code)

**(319) 352-4090**

(Insurance Company's Telephone Number, including Area Code)

**Britney Schnathorst, Esq.**

**MEMBERS Life Insurance Company**

**2000 Heritage Way**

**Waverly, Iowa 50677**

**(319) 352-4090**

(Name and Address of Agent for Service)

--------------------------------------------

**COPY TO:**

**Stephen E. Roth, Esq.**

**Thomas E. Bisset, Esq.**

**Eversheds Sutherland (US) LLP**

**700 Sixth Street, NW, Suite 700**

**Washington, DC 20001**

**(202) 383-0100**

**Approximate Date of Proposed Public Offering: As soon as possible after the effective date of this Registration Statement.** 

**It is proposed that this filing will become effective (check appropriate box):**

&nbsp;&nbsp;&nbsp;&nbsp;☐ Immediately upon filing pursuant to paragraph (b)

&nbsp;&nbsp;&nbsp;&nbsp;☐ On (date) pursuant to paragraph (b)

☒ 60 days after filing pursuant to paragraph (a)(1)

&nbsp;&nbsp;&nbsp;&nbsp;☐ On (date) pursuant to paragraph (a)(1) of Rule 485 under the Securities Act of 1933 ("Securities Act").

**If appropriate, check the following box:**

&nbsp;&nbsp;&nbsp;&nbsp;☐ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

**Check each box that appropriately characterizes the Registrant:** 

☐ New Registrant (as applicable, a Registered Separate Account or Insurance Company that has not filed a Securities Act registration statement

or amendment thereto within 3 years preceding this filing)

☐ Emerging Growth Company (as defined by Rule 12b-2 under the Securities Exchange Act of 1934 ("Exchange Act"))

☐ If an Emerging Growth Company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act

☒ Insurance Company relying on Rule 12h-7 under the Exchange Act

☐ Smaller reporting company (as defined by Rule 12b-2 under the Exchange Act)

**Title of Securities Being Registered:** TruStage™ ZoneChoice Advantage Annuity

------

**TruStage™ ZoneChoice Advantage Annuity**

**Issued by:**

**MEMBERS Life Insurance Company**

**2000 Heritage Way**

**Waverly, Iowa 50677**

**Telephone number: 800-798-5500**

**Offered Through: CUNA Brokerage Services, Inc.**

**DATED MAY __, 2026**

This Prospectus describes the TruStage™ ZoneChoice Advantage Annuity, an individual or joint owned,

single purchase payment deferred index-linked annuity contract issued by MEMBERS Life Insurance

Company.

You may purchase the Contract with a single Purchase Payment of at least $5,000. **We do not allow** 

**additional Purchase Payments.** The Contract is a complex investment and involves risks, including

potential loss of principal. Please keep this Prospectus for future reference. This Prospectus describes all

material rights and obligations of Owners, including all state variations, and provides important

information you should know before investing. You should speak with a financial professional about the

Contract's features, benefits, risks, and fees, and whether it is appropriate for you based upon your

financial situation and objectives.

You may allocate your Contract Value among index-linked Allocation Options ("Risk Control Accounts")

and a fixed interest rate Allocation Option ("Fixed Account") for accumulation and long-term investment

purposes. Allocation Options and features may vary by state, and your selling firm may limit the Allocation

Options available to you. **Additional information about each Allocation Option is provided in**

**<u>[Appendix A](#i88be85d061064e5e8bc8f6adf165b9b2_61)</u>.** The Contract also offers a death benefit and standard annuity features, including multiple

fixed annuitization options.

We currently offer Allocation Options with Interest Terms of one or six years. Each Allocation Option is

available on the Contract Issue Date and at the end of the applicable Interest Term. Before the end of

each Interest Term, we will notify you of the available Allocation Options to which you may transfer

maturing Contract Value. The Risk Control Accounts available to you and their terms (such as the Interest

Term, Index, and Crediting Strategies) may differ from what was previously available.

We credit interest daily to the **Fixed Account** based on a fixed annual interest rate that is guaranteed for

each one-year Interest Term. The Fixed Interest Rate will never be below 0.05%.

We credit interest to the **Risk Control Accounts** at the end of each Interest Term based in part on the

performance of an external Index by comparing the change in the Index from the first day of the Interest

Term to the last day of the Interest Term ("Index Return"). We currently offer three reference Indices: the

S&P 500 Index, the Dimensional US Small Cap Value Systematic Index, and the Barclays Risk Balanced

Index. **It is possible that you will not earn any interest in, or that we may credit negative interest to, the Risk Control Accounts**.

We currently offer Risk Control Accounts with the following **Crediting Strategies**: Floor with Participation

Rate and Cap Rate; Buffer with Participation Rate and Cap Rate; Boost with Participation Rate and Cap

Rate; and Buffer with Dual Step Rate. The Floor, Buffer, and Boost may provide protection by limiting the

amount of negative interest credited to you from negative Index performance, but the Cap Rate,

Participation Rate, and Dual Step Rate may limit the amount of interest you can earn from positive Index

performance. **The Floor, Buffer, and Boost do not limit losses from the Surrender Charge, Market**

**Value Adjustment, Interim Value calculation, proportionate calculations, or taxes**.

• The **Floor** is the maximum amount of negative interest that we will credit you at the end of an

Interest Term. Negative Index performance will reduce your Risk Control Account Value by up to

the amount of the Floor you elected. We currently offer eleven Floor options: 0%, -1%, -2%, -3%,

-4%, -5%, -6%, -7%, -8%, -9%, and -10%. **There** **is a risk of loss of principal and previously**

**credited interest of up to the Floor (a maximum loss of 10% with a Floor of -10%) each**

**Interest Term due to negative Index performance.**

• The **Buffer** provides you limited protection each Interest Term against negative Index

performance up to the Buffer, but we will credit you any negative interest that exceeds the Buffer.

We currently offer Risk Control Accounts with a -10% Buffer and a -20% Buffer. **There is a risk of**

**loss of principal and previously credited interest of up to the amount of any negative Index**

**performance that exceeds the Buffer (a maximum loss of 90% with a Buffer of -10%, if the**

**Index declines by 100%) each Interest Term due to negative Index performance.**

• The **Boost** provides you limited protection each Interest Term by increasing any negative Index

performance by the amount of the Boost. If the Index Return is zero or positive, the Boost is also

the minimum Adjusted Index Return (subject to the Cap Rate). We currently offer Risk Control

Accounts with a 10% Boost and a 20% Boost. **There is a risk of loss of principal and**

**previously credited interest of up to the amount of any negative Index performance that**

**exceeds the Boost (a maximum loss of 90% with a 10% Boost, if the Index declines by**

**100%) each Interest Term due to negative Index performance.**

• The **Cap Rate** is the maximum amount of any positive Index interest that we will credit you at the

end of an Interest Term. Positive Index performance will increase your Risk Control Account Value

by up to the Cap Rate. **With the Cap Rate, you may receive only a portion of any positive**

**Index performance**.

• The **Participation Rate** is the percentage of any positive Index interest that we will credit you at

the end of an Interest Term. For Risk Control Accounts with a Buffer or Floor, the Participation

Rate is applied to any positive Index Return. For Risk Control Accounts with a Boost, the

Participation Rate is applied to any Index Return that is greater than the Boost. **With a**

**Participation Rate that is less than 100%, you may receive only a portion of any positive**

**Index performance.**

• The **Dual Step Rate** is the Adjusted Index Return that we will credit you when the Index Return is

greater than or equal to the applicable Buffer. In other words, if you choose a Buffer of -10%, the

Dual Step Rate will **only** apply if there is negative Index Return that is -10% or better, or a

positive Index Return. We will not credit you interest from positive Index performance that

exceeds the Dual Step Rate. **With the Dual Step Rate, you may receive only a portion of any**

**positive Index performance**.

The Floor, Buffer, and Boost for a Risk Control Account will not change unless the Risk Control Account is

discontinued. We set the Cap Rate, Participation Rate, and Dual Step Rate for each Risk Control

Account, and the Fixed Interest Rate for the Fixed Account, at the start of each Interest Term and

guarantee them for the duration of the Interest Term. **During the life of your Contract, the Fixed** 

**Account and a Risk Control Account with a 0% Floor, a minimum 1% Cap Rate, and a minimum** 

**100% Participation Rate will always be available. Otherwise, we may add, change, or discontinue**

**Allocation Options and Indices from time to time. The remaining Allocation Options may have** 

**terms that are unacceptable to you and may not provide any protection from Index losses, which** 

**could result in the loss of the entire amount of your Contract Value.** 

**This Contract is not a short-term investment and may not be appropriate if you need ready access** 

**to cash. Surrender Charges, Market Value Adjustments, Interim Value calculations, proportionate** 

**calculations, income taxes, and additional taxes may result in the loss of your principal and** 

**previously credited interest. Withdrawals and Flex Transfers could also have a significant** 

**negative impact on your values under the Contract and the amount you receive from any** 

**payments.** 

• If you take a withdrawal or surrender your Contract during the first six Contract Years, you may

pay a **Surrender Charge** of up to 8% of the amount withdrawn that exceeds the Annual Free

Withdrawal Amount.

• If you surrender your Contract or take a withdrawal from any Allocation Option at any time

other than on or within 30 days after each sixth Contract Anniversary, we will apply a **Market**

**Value Adjustment** (which may be positive or negative) to the amount that exceeds the Annual

Free Withdrawal Amount. **A negative Market Value Adjustment could significantly decrease**

**the amount you receive from a withdrawal or surrender. In extreme circumstances, losses**

**from the Market Value Adjustment could be as high as 90% of your Contract Value.**

**•**For Contract Value allocated to a Risk Control Account, if you take a withdrawal, make a Flex

Transfer, surrender your Contract, die, or begin Income Payout Options, the amount withdrawn

or transferred before the expiration of an Interest Term is based on the **Interim Value** and will

reduce the Crediting Base proportionally. The Interim Value calculation may reflect a positive or

negative return that increases or decreases the amount remaining in the Risk Control Account.

**This could significantly decrease the values under your Contract by more than the**

**withdrawal or transfer amount.** **In extreme circumstances, losses from the Interim Value**

**calculation could be as high as 100% of your Risk Control Account Value. Only the**

**Crediting Base remaining in a Risk Control Account after a withdrawal or transfer will be**

**credited interest, positive or negative, at the end of the Interest Term.**

• Withdrawals reduce the Purchase Payment, which is used to determine the Death Benefit, by the

ratio of the withdrawal (including any Surrender Charge and Market Value Adjustment) to the

Contract Value immediately prior to the withdrawal. **As a result, reductions due to withdrawals**

**may be substantially more than the amount withdrawn, could significantly decrease your**

**Death Benefit and remaining Contract Values, and could terminate the the Contract.**

**•The Floor, Buffer, and Boost do not limit losses from the Surrender Charge, Market Value**

**Adjustment, Interim Value calculation, proportionate calculations, or taxes; however, full**

**surrenders from the Fixed Account are subject to the Fixed Account Nonforfeiture Value.**

• Withdrawals and surrenders are subject to federal income taxes and may be subject to a 10%

additional tax if taken before age 59½.

**•Although the Contract permits systematic withdrawals (including for Required Minimum**

**Distributions under the Internal Revenue Code), these withdrawals may have an adverse**

**effect on your values under the Contract. If you intend to make ongoing withdrawals, you**

**should consult a financial professional to determine whether the Contract is appropriate**

**for you.**

**This Contract is a security. It involves investment risk and other risks and may lose value.** For

additional information on risks associated with the Contract, see "<u>[Principal Risks of Investing in the](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u> 

<u>[Contract](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u>" on Page <u>[18](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u>. The guarantees in this Contract are subject to the Company's financial strength

and claims-paying ability.

Additional information about certain investment products, including index-linked annuities, has been

prepared by the Securities and Exchange Commission's staff and is available at investor.gov/.

**The Contract or certain Allocation Options may not be available in all states. This Prospectus**

**does not constitute an offer to sell any Contract and it is not soliciting an offer to buy any**

**Contract in any state in which the offer or sale is not permitted. We do not authorize anyone to**

**provide any information or representations regarding the offering described in this Prospectus**

**other than the information and representations contained in this Prospectus.**

**Neither the SEC nor any state securities commission has approved or disapproved of these**

**securities or determined if this Prospectus is truthful or complete. Any representation to the**

**contrary is a criminal offense. The Contracts are not insured by the Federal Deposit Insurance**

**Corporation or any other government agency. They are not deposits or other obligations of any**

**bank and are not bank guaranteed. They are subject to investment risks and possible loss of**

**principal and previously credited interest.**

**If you are a new investor in the Contract, you may cancel your Contract within 10 days of receiving**

**it without paying fees or penalties. Upon cancellation, you will receive a full refund of the amount**

**you paid with your application (less any withdrawals). Some states may permit a longer period for**

**you to return your Contract, or different calculations and requirements for refunded amounts. You**

**should review this prospectus, or consult with your investment professional, for additional**

**information about the specific cancellation terms that apply.**

i

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **[GLOSSARY](#i6de2274e51d64944904e5f4d69d4e624)** **...............................................................................................................................................** | **[1](#i6de2274e51d64944904e5f4d69d4e624)** |
| **[OVERVIEW OF THE CONTRACT](#i24f87f3429164bd59bef18e88361ec70)** **.........................................................................................................** | **[4](#i24f87f3429164bd59bef18e88361ec70)** |
| [Purpose](#ic03c6f8cdb204b57b7f28be263f2fd92).................................................................................................................................................. | [4](#ic03c6f8cdb204b57b7f28be263f2fd92) |
| [Purchase and Contract Periods](#iefdfe97168854999b834c0c71418ea2e)......................................................................................................... | [4](#iefdfe97168854999b834c0c71418ea2e) |
| [Allocation Options](#i2b422a7dd47947918a0d5a3fdf7a0200)............................................................................................................................... | [4](#i2b422a7dd47947918a0d5a3fdf7a0200) |
| [Other Contract Features](#i2f77a18012604d6e9cfee49e521f45e0)..................................................................................................................... | [10](#i2f77a18012604d6e9cfee49e521f45e0) |
| **[KEY INFORMATION](#i742b0fba4e9f412f917145983452e9ed)** **................................................................................................................................** | **[11](#i742b0fba4e9f412f917145983452e9ed)** |
| **[FEE TABLE](#i16a30af10fe04e239c06c28d1031e055)** **................................................................................................................................................** | **[17](#i16a30af10fe04e239c06c28d1031e055)** |
| **[PRINCIPAL RISKS OF INVESTING IN THE CONTRACT](#i277a8be0b52c46c6a166a621616b1824)** **................................................................** | **[18](#i277a8be0b52c46c6a166a621616b1824)** |
| **[THE INSURANCE COMPANY AND SEPARATE ACCOUNT](#i19f6b2c62890402bbd99775a4e726ca7)** **..........................................................** | **[23](#i19f6b2c62890402bbd99775a4e726ca7)** |
| [MEMBERS Life Insurance Company](#i652fc824f2954f39a9354085469e87d6)................................................................................................ | [23](#i652fc824f2954f39a9354085469e87d6) |
| [The Risk Control Separate Account](#i0944d241c1eb4588a62d9b49f7aeb143).................................................................................................. | [24](#i0944d241c1eb4588a62d9b49f7aeb143) |
| **[GETTING STARTED - THE ACCUMULATION PERIOD](#ic6dc3c53407e48e4bb84a25af05eb49a)** **..................................................................** | **[24](#ic6dc3c53407e48e4bb84a25af05eb49a)** |
| [Purchasing a Contract](#ib0e28d75e26a473eb5a7a7ed8f08880e)......................................................................................................................... | [24](#ib0e28d75e26a473eb5a7a7ed8f08880e) |
| [Tax-Free Section 1035 Exchanges](#idd1495fe6e0b4b248c9a6529255d4f2d)................................................................................................... | [25](#idd1495fe6e0b4b248c9a6529255d4f2d) |
| [Owner](#ib0ac20d6b72646d2a363b75148ddf4dd)..................................................................................................................................................... | [25](#ib0ac20d6b72646d2a363b75148ddf4dd) |
| [Divorce](#i9b3ac09784fe44eca79ed0daaa80dc27)................................................................................................................................................... | [26](#i9b3ac09784fe44eca79ed0daaa80dc27) |
| [Annuitant](#i05af925921d648eca1f736cd9cec2ae0)................................................................................................................................................ | [26](#i05af925921d648eca1f736cd9cec2ae0) |
| [Beneficiary](#i952c9f6544a040cd8183df8bade54f44)............................................................................................................................................. | [26](#i952c9f6544a040cd8183df8bade54f44) |
| [Right to Examine](#i126098fa7a304e61932f11efd70c3b29).................................................................................................................................. | [26](#i126098fa7a304e61932f11efd70c3b29) |
| **[ALLOCATING YOUR PURCHASE PAYMENT](#i6393c3fcd80a430a81a3b6c2ae0b70e2)** **...................................................................................** | **[27](#i6393c3fcd80a430a81a3b6c2ae0b70e2)** |
| [Purchase Payment](#ia39dbc4d137544938545250de9dbe9cd)............................................................................................................................... | [27](#ia39dbc4d137544938545250de9dbe9cd) |
| [Allocation Options](#ib26c2da570fd443a8c2fae97c2ab1e63)................................................................................................................................ | [27](#ib26c2da570fd443a8c2fae97c2ab1e63) |
| [Reallocating Your Contract Value](#ibca6f969cccd48acbc1ff70a48ebbd67)...................................................................................................... | [29](#ibca6f969cccd48acbc1ff70a48ebbd67) |
| [Flex Transfers](#ifa9c50b140c74388828995e935381227)....................................................................................................................................... | [29](#ifa9c50b140c74388828995e935381227) |
| **[FIXED ACCOUNT OPTION](#i911f516aa85445d7a4d636d7c9350404)** **.....................................................................................................................** | **[30](#i911f516aa85445d7a4d636d7c9350404)** |
| [Fixed Interest Rate](#i01b28bd8568b4930aee5d6ede27cb36e)............................................................................................................................... | [30](#i01b28bd8568b4930aee5d6ede27cb36e) |
| [Fixed Account Nonforfeiture Value](#i4e6ac61880544e8782e8d4db88b79cf2).................................................................................................... | [30](#i4e6ac61880544e8782e8d4db88b79cf2) |
| **[RISK CONTROL ACCOUNT OPTIONS](#i511fc0c165ca4ca79f7cb5830151c20f)** **...............................................................................................** | **[31](#i511fc0c165ca4ca79f7cb5830151c20f)** |
| [Interest Term and Crediting Interest](#i430595069c8649bc8d8e0d2db48ae96d).................................................................................................. | [31](#i430595069c8649bc8d8e0d2db48ae96d) |
| [The Indices](#i435fd811962043249c1c6996c178b886)............................................................................................................................................ | [32](#i435fd811962043249c1c6996c178b886) |
| [Limits On Index Losses and Gains](#i58525049cc0147c88ffb53fc0fe6de9b).................................................................................................... | [33](#i58525049cc0147c88ffb53fc0fe6de9b) |
| [Setting the Crediting Strategies](#i4b6730eeaa58414fa734876e88dfcb2f)......................................................................................................... | [35](#i4b6730eeaa58414fa734876e88dfcb2f) |
| [Risk Control Account Availability and Changes](#id475e6cc43d44d3589161275ea700d3a)............................................................................... | [35](#id475e6cc43d44d3589161275ea700d3a) |
| [Index Annual Return Examples](#ib47d7eb5a38a46e3963d5ca8ee4f2ebb).......................................................................................................... | [37](#ib47d7eb5a38a46e3963d5ca8ee4f2ebb) |
| **[CONTRACT VALUE](#i6ac05412b0e34ff789b0140edb89afad)** **.................................................................................................................................** | **[39](#i6ac05412b0e34ff789b0140edb89afad)** |
| [Fixed Account Value](#i2aac1778cd13498891cb4eac45d6cdc6)............................................................................................................................ | [39](#i2aac1778cd13498891cb4eac45d6cdc6) |
| [Risk Control Account Value](#i9ad3c194a12647028831309897f6dadb)................................................................................................................ | [39](#i9ad3c194a12647028831309897f6dadb) |
| [Interim Value](#i761a3dc5a2874d33abe20d7add916e1b)......................................................................................................................................... | [46](#i761a3dc5a2874d33abe20d7add916e1b) |
| **[CHARGES AND ADJUSTMENTS](#i08913a0850934b6aac4f5df57e493dc3)** **.........................................................................................................** | **[48](#i08913a0850934b6aac4f5df57e493dc3)** |
| [Surrender Charge](#ia5c7c2af15cf4c9c97aabce757fda211)................................................................................................................................ | [48](#ia5c7c2af15cf4c9c97aabce757fda211) |
| [Interim Value](#i9ebcf81034b449a49401bad0f9422b98)........................................................................................................................................ | [49](#i9ebcf81034b449a49401bad0f9422b98) |
| [Market Value Adjustment](#i2940ad45512a4b309d8eb521cef1e8bc).................................................................................................................... | [49](#i2940ad45512a4b309d8eb521cef1e8bc) |
| [Premium Taxes](#ic2b42659a42f41cc8f7ebb53c8638684)..................................................................................................................................... | [51](#ic2b42659a42f41cc8f7ebb53c8638684) |
| [Other Information](#i331384095e5f4ce7a40247cc986ead09)................................................................................................................................. | [51](#i331384095e5f4ce7a40247cc986ead09) |
| **[ACCESS TO YOUR MONEY](#i7734c5acd2804efeb2b87fe0d7101fb5)** **..................................................................................................................** | **[51](#i7734c5acd2804efeb2b87fe0d7101fb5)** |

---

ii

---

| | |
|:---|:---|
| [Partial Withdrawals](#i2d7b3236a3d5484fa0e7fd3349fd192e)............................................................................................................................. | [51](#i2d7b3236a3d5484fa0e7fd3349fd192e) |
| [Surrenders](#i642992d4b84d427f90384ff5ebe41c8d)............................................................................................................................................. | [52](#i642992d4b84d427f90384ff5ebe41c8d) |
| [Partial Withdrawal and Surrender Restrictions](#idff708f4e14b48b8bd0ae9d473f2b79c)................................................................................ | [53](#idff708f4e14b48b8bd0ae9d473f2b79c) |
| [Right to Defer Payments](#ic4e746d9719b4ae3bb9f5ed39d4dd94a)..................................................................................................................... | [53](#ic4e746d9719b4ae3bb9f5ed39d4dd94a) |
| **[BENEFITS AVAILABLE UNDER THE CONTRACT](#i491300be3b83408d824e39a84cd1572b)** **..........................................................................** | **[53](#i491300be3b83408d824e39a84cd1572b)** |
| [Death Benefit](#i92b488391c63466ab0b3dd8f1f81a96c)....................................................................................................................................... | [53](#i92b488391c63466ab0b3dd8f1f81a96c) |
| [Death of the Owner during the Accumulation Period.](#ic229e1a5659e4fa2841e5b2aed1a7815)................................................................... | [53](#ic229e1a5659e4fa2841e5b2aed1a7815) |
| [Death of Owner or Annuitant After the Income Payout Date.](#i7f6144525a1a48468f37f3044e67182a)....................................................... | [57](#i7f6144525a1a48468f37f3044e67182a) |
| [Interest on Death Benefit Proceeds.](#ib962d14eb38e43c2b532a92e2a1719a9)................................................................................................ | [57](#ib962d14eb38e43c2b532a92e2a1719a9) |
| [Abandoned Property Requirements.](#id3344f3009a749f8a05dcea3b6285233)................................................................................................ | [58](#id3344f3009a749f8a05dcea3b6285233) |
| [Systematic Withdrawals](#i4451ab5a93a9430bb4c5664600941687)...................................................................................................................... | [58](#i4451ab5a93a9430bb4c5664600941687) |
| **[INCOME PAYMENTS - THE PAYOUT PERIOD](#ic36cdabdaba74c79b7bc413f0686af57)** **.................................................................................** | **[59](#ic36cdabdaba74c79b7bc413f0686af57)** |
| [Payout Date](#ida472a66d208476fa86325c5a4774b1c).......................................................................................................................................... | [59](#ida472a66d208476fa86325c5a4774b1c) |
| [Payout Period](#i6a9606e17ca24f8fa68f15d4562016a6)....................................................................................................................................... | [59](#i6a9606e17ca24f8fa68f15d4562016a6) |
| [Terms of Income Payments](#i699e9217c62d4ac3915c7146dae91a31)................................................................................................................ | [59](#i699e9217c62d4ac3915c7146dae91a31) |
| [Electing an Income Payout Option](#idf323a26d842458c9cfefde9a347d2cf)................................................................................................... | [60](#idf323a26d842458c9cfefde9a347d2cf) |
| [Income Payout Options](#i095ab41a15e840219ab7b2007f7cac7a)....................................................................................................................... | [60](#i095ab41a15e840219ab7b2007f7cac7a) |
| **[FEDERAL INCOME TAX MATTERS](#ic36802bd41414982abec10f2d562ac05)** **....................................................................................................** | **[61](#ic36802bd41414982abec10f2d562ac05)** |
| **[OTHER INFORMATION](#i8b688907da1c428ab852358e700f7029)** **...........................................................................................................................** | **[67](#i8b688907da1c428ab852358e700f7029)** |
| [Important Information about the Indices](#if1cfc42afdd54680b1d7361e496b76ce)........................................................................................... | [67](#if1cfc42afdd54680b1d7361e496b76ce) |
| [Distribution of the Contract](#i06bf0f4e798249649e9d12d31ec3fbc3)................................................................................................................ | [70](#i06bf0f4e798249649e9d12d31ec3fbc3) |
| [Authority to Change](#i84ec669099b54bb6abdc29c802a29aee)............................................................................................................................. | [71](#i84ec669099b54bb6abdc29c802a29aee) |
| [Incontestability](#if852b56df8234aa6a1864b2cd109eb93)...................................................................................................................................... | [71](#if852b56df8234aa6a1864b2cd109eb93) |
| [Misstatement of Age or Sex at Birth](#i479aca16ca4544b7b7549e329348cfc9).................................................................................................. | [71](#i479aca16ca4544b7b7549e329348cfc9) |
| [Conformity with Applicable Laws](#i9f662b2d23c94e1fbeaa7e47a3fe6822)....................................................................................................... | [72](#i9f662b2d23c94e1fbeaa7e47a3fe6822) |
| [Reports to Owners](#i2d010cf68e8b4346ae75297d24fb0fd1).............................................................................................................................. | [72](#i2d010cf68e8b4346ae75297d24fb0fd1) |
| [Householding](#ibf754ceb369942078a82186df2f13152)........................................................................................................................................ | [72](#ibf754ceb369942078a82186df2f13152) |
| [Change of Address](#i3aea3cce4bbe44c3a877ab88be40577e).............................................................................................................................. | [72](#i3aea3cce4bbe44c3a877ab88be40577e) |
| [Inquiries](#i756eed10d9e84cda9f324ff6e42056b6)................................................................................................................................................. | [72](#i756eed10d9e84cda9f324ff6e42056b6) |
| [Legal Proceedings](#i1b51f1bfa7ca4d8d9ca1c8650dabc7f4).............................................................................................................................. | [72](#i1b51f1bfa7ca4d8d9ca1c8650dabc7f4) |
| **[FINANCIAL STATEMENTS](#ia8ed53a45b6743aeb269e1c4d2c4ba5b)** **...................................................................................................................** | **[73](#ia8ed53a45b6743aeb269e1c4d2c4ba5b)** |

---

---

| | |
|:---|:---|
| **APPENDIX A: Allocation Options Available Under the Contract** | **A-1** |
| **APPENDIX B: State Variations of Certain Features and Benefits** | **B-1** |

---

**GLOSSARY**

**Accumulation Period.** The period of time that begins on the Contract Issue Date stated on the Data

Page and ends on the Income Payout Date or the date this Contract is terminated if earlier.

**Adjusted Index Return.** The Index Return for the current Interest Term adjusted for the Crediting

Strategy. This value is only calculated at the end of the Interest Term.

**Administrative Office.** MEMBERS Life Insurance Company, 2000 Heritage Way, Waverly, Iowa 50677.

Phone: 1-800-798-5500.

**Age.** Age as of last birthday.

**Allocation Options.** All available options under the Contract for allocating your Purchase Payment and

Contract Value. Your selling firm may limit the Allocation Options available to you when your Contract is

issued.

**Annual Free Withdrawal Amount.** The amount that can be withdrawn each Contract Year without

incurring a Surrender Charge or Market Value Adjustment. For the first six Contract Years, it is equal to

10% of the Contract Value determined at the beginning of each Contract Year. Beginning on the sixth

Contract Anniversary, it is equal to 20% of the Contract Value determined at the beginning of each

Contract Year.

**Annuitant (Joint Annuitant).** The person(s) whose life (or lives) determines the income payment amount

payable under the Contract. If the Owner is a non-natural person, the Annuitant(s) is also the person(s)

whose death determines the Death Benefit.

**Authorized Request.** A signed and dated request that is in Good Order. Without limitation, any of the

following requests must be signed by all Owners and any assignee: transfer value, change a party to the

Contract, change the Income Payout Date, or make a partial withdrawal or full surrender of the Contract.

An Authorized Request may also include a phone, fax, or electronic request for specific transactions.

**Beneficiary (Beneficiaries).** The person(s) or entity(ies) who will receive the Death Benefit proceeds due

to the Owner's death, or in the case of a non-natural Owner, upon the death of the Annuitant.

**Boost**. The percentage added to an Index Return that is less than zero to determine the Adjusted Index

Return. It is also the minimum Adjusted Index Return when the Index Return is greater than or equal to

zero.

**Buffer.** The maximum amount of negative interest assumed by the Company for an Interest Term, and

any additional negative interest will be credited to the Risk Control Account.

**Business Day.** Any day that the New York Stock Exchange is open for trading. All requests for

transactions that are received at our Administrative Office in Good Order on any Business Day prior to

market close, generally 4:00 P.M. Eastern Time, will be processed as of the end of that Business Day.

**Cap Rate.** The maximum amount of interest the Company will credit to the Risk Control Account for an

Interest Term. If the Cap Rate is uncapped, the Cap Rate is not applied to the Crediting Strategy.

**Company.** MEMBERS Life Insurance Company; also referred to as "we", "our" and "us".

**Contract.** The TruStage™ ZoneChoice Advantage Annuity, an individual or joint owned, single purchase

payment deferred index-linked annuity contract issued by MEMBERS Life Insurance Company.

**Contract Anniversary.** The same day and month as the Contract Issue Date for each year the Contract

remains in force.

**Contract Issue Date.** The day your Contract is issued. This date will be used to determine Contract

Years and Contract Anniversaries.

**Contract Value.** The total value of your Contract during the Accumulation Period. All values are

calculated as of the end of a Business Day.

**Contract Year.** Any twelve-month period beginning on the Contract Issue Date or Contract Anniversary

and ending one day before the next Contract Anniversary.

**Crediting Base.** The amount used to calculate the Risk Control Account Value. It is equal to the amount

allocated to a Risk Control Account at the start of the Interest Term, reduced proportionally for any

withdrawals, Flex Transfers, or Contract Value applied to an Income Payout Option.

**Crediting Strategy.** The method by which interest is calculated for an Allocation Option during the

Interest Term.

**Data Page.** Pages attached to your Contract that describe certain terms applicable to your specific

Contract.

**Death Benefit**. The amount the Beneficiary is entitled to upon the death of an Owner who is a natural

person or the death of an Annuitant if the Owner is a non-natural person.

**Dual Step Rate**. The percentage that equals the Adjusted Index Return when the Index Return is greater

than or equal to the applicable Buffer for the Crediting Strategy.

**Fixed Account.** An Allocation Option that is part of our General Account to which we credit a fixed annual

rate of interest referred to as the Fixed Interest Rate.

**Fixed Account Nonforfeiture Value**. The value used to determine the Fixed Account minimum values. It

applies to the Surrender Value, the entire Contract Value applied to an Income Payout Option, and Death

Benefit proceeds upon the death of an Owner during the Accumulation Period.

**Fixed Interest Rate**. The effective annual rate of interest credited to the Fixed Account. The Fixed

Interest Rate will never be less than 0.05%.

**Flex Transfer.** The voluntary transfer of some or all of the value in any Risk Control Account to the Fixed

Account prior to the end of the Interest Term.

**Floor.** The maximum amount of negative interest for an Interest Term used to determine the Adjusted

Index Return that may be credited to the Risk Control Account for an Interest Term.

**General Account.** All of the Company's assets other than the assets in its separate accounts.

**Good Order.** A request or transaction generally is considered in "Good Order" if we receive it at our

Administrative Office within the time limits, if any, prescribed in this Prospectus for a particular transaction

or instruction, it includes all information and supporting legal documentation necessary for us to execute

the requested instruction or transaction, and is signed by the individual or individuals authorized to

provide the instruction or engage in the transaction. A request or transaction may be rejected or delayed if

not in Good Order. This information and documentation necessary for a transaction or instruction

generally includes, to the extent applicable: the completed application or instruction form; your contract

number; the transaction amount (in dollars or percentage terms); the signatures of all Owners (exactly as

indicated on the Contract), if necessary; Social Security Number or Tax I.D.; and any other information or

supporting documentation that we may require, including any consents. With respect to the Purchase

Payment, Good Order also generally includes receipt by us of sufficient funds to affect the purchase. We

may, in our sole discretion, determine whether any particular transaction request is in Good Order, and we

reserve the right to change or waive any Good Order requirement at any time. If you have any questions,

you should contact us or your financial professional before submitting the form or request.

**Income Payout Date.** The date the first income payment is paid from the Contract to the Owner.

**Income Payout Option.** The choices available under the Contract for payout of your Contract Value.

**Index, Indices.** The reference index (or indices) that is a benchmark designed to track the performance

of a portfolio of securities and is used to determine the Index Return, Adjusted Index Return, and Interim

Value for a Crediting Strategy.

**Index Return**. The percentage change in the reference Index from the beginning of the Interest Term to

the end of the Interest Term.

**Index Value**. The closing value for the reference Index as of the end of a Business Day.

**Interest Term.** The period for which interest is calculated for an Allocation Option. The Interest Term may

vary by Allocation Option. Interest Terms will start and end on a Contract Anniversary, unless otherwise

specified.

**Interim Value.** The value for a Risk Control Account on any day other than the first and last Business Day

of an Interest Term.

**Internal Revenue Code (IRC)**. The Internal Revenue Code of 1986, as amended.

**Market Value Adjustment.** An adjustment (increase or decrease) that may be applied to a full surrender

or partial withdrawal prior to the end of the six-year rolling period that begins on the Contract Issue Date.

The Market Value Adjustment does not apply to transfers (including Flex Transfers) or to the Annual Free

Withdrawal Amount.

**Non-Qualified Contract**. An annuity contract that is independent of any formal retirement or pension

plan.

**Owner (Joint Owner).** The person(s) or entity who own(s) the Contract and has (have) all rights under

the Contract. Unless owned by a non-natural person, the Owner is also the person(s) whose death

determines the Death Benefit. The Owner is also referred to as "you" or "your".

**Participation Rate.** The percentage that may be applied to an Index Return to determine the Adjusted

Index Return. For any Risk Control Account with a Buffer or Floor, the percentage is applied to an Index

Return that is greater than zero. For any Risk Control Account with a Boost, the percentage is applied to

an Index Return that is greater than the Boost.

**Payout Period**. The period of time that begins on the Income Payout Date and continues until we make

the last payment as provided by the Income Payout Option chosen.

**Purchase Payment.** The amount paid to us, by or on behalf of an Owner, that is used to establish the

annuity on the Contract Issue Date. We do not allow any additional Purchase Payments.

**Qualified Contract**. An annuity that is part of an individual retirement plan, pension plan or employer-

sponsored retirement program that is qualified for special treatment under the Internal Revenue Code.

**Required Minimum Distributions (RMDs).** The required minimum distribution defined by section

401(a)(9) of the IRC for the Contract and as determined by us. RMDs only apply to Qualified Contracts.

**Risk Control Account.** An Allocation Option to which we credit interest based in part on the performance

of an Index, subject to the Crediting Strategy.

**Risk Control Account Value.** The portion of the Contract Value in a Risk Control Account.

**SEC.** The U.S. Securities and Exchange Commission.

**Spouse**. The person to whom you are legally married. The term Spouse includes the person with whom

you have entered into a legally-sanctioned marriage that grants you the rights, responsibilities, and

obligations married couples have in accordance with applicable state laws*.* Individuals who do not meet

the definition of Spouse may have adverse tax consequences when exercising provisions under this

Contract and any attached endorsements or riders. Additionally, individuals in other arrangements that are

not recognized as marriage under the relevant state law will not be treated as married or as Spouses as

defined in this Contract for federal tax purposes. Consult with a tax advisor for more information on this

subject and before exercising benefits under the contract and any attached endorsements or riders.

**Surrender Charge**. The charge associated with surrendering either some or all of the Contract Value.

**Surrender Value.** The amount you are entitled to receive if you elect to surrender this Contract during the

Accumulation Period.

**Valuation Period**. The period beginning at the close of one Business Day and continuing to the close of

the next succeeding Business Day.

**OVERVIEW OF THE CONTRACT**

The following is a summary of the key features of the Contract. This summary does not include all the

information you should consider before purchasing a Contract. You should carefully read the entire

Prospectus, which contains more detailed information concerning the Contract and the Company, before

making an investment decision.

You should speak with a financial professional about the Contract's features, benefits, risks, and fees, and

whether it is appropriate for you based upon your financial situation and objectives. The Company is not

an investment adviser and does not provide any investment advice to you in connection with the Contract.

**Purpose**

The Contract is an individual or joint owned, single purchase payment deferred index-linked annuity

contract. It can help you save for retirement by allowing your Contract Value to earn interest from the Risk

Control Accounts and/or Fixed Account on a tax-deferred basis and by providing the opportunity for

lifetime payments. You generally will not pay taxes on your earnings (your Contract Value minus the

portion of your Purchase Payment not previously withdrawn) until you withdraw them.

The Contract is designed for long-term investors and is not intended for someone who needs ready

access to cash.

**Purchase and Contract Periods**

You may purchase the Contract with a single Purchase Payment of at least $5,000. **You may not make** 

**additional Purchase Payments.** 

There are two periods to your Contract: an Accumulation Period and a Payout Period.

***Accumulation Period.*** The Accumulation Period begins on the Contract Issue Date and continues until

the Income Payout Date or the date the Contract is terminated if earlier. During the Accumulation Period,

you allocate your Contract Value to the Risk Control Accounts and the Fixed Account. **Additional**

**information about each Allocation Option is provided in <u>[Appendix A](#i88be85d061064e5e8bc8f6adf165b9b2_61)</u>.**

***Payout Period.*** The Payout Period begins on the Income Payout Date and continues until we make the

last payment as provided by the Income Payout Option chosen. On the first day of the Payout Period, the

Contract Value (calculated using the Interim Value calculation if the Payout Date is before the end of an

Interest Term for a Risk Control Account, and subject to the Fixed Account Nonforfeiture Value, if

applicable) will be applied to the Income Payout Option you selected. You cannot change the Annuitant or

Owner on or after the Income Payout Date for any reason. When the Payout Period begins, you will no

longer be able to make withdrawals. The Death Benefit terminates when the Contract is applied to an

Income Payout Option. See "<u>[Income Payments - The Payout Period](#i88be85d061064e5e8bc8f6adf165b9b2_49)</u>" for more details.

**Allocation Options**

You must specify the percentage of your Purchase Payment to be allocated to each Allocation Option on

the Contract Issue Date. Your Purchase Payment and Contract Value will be allocated according to your

allocation instructions on file with us. See "<u>[Allocating Your Purchase Payment](#i88be85d061064e5e8bc8f6adf165b9b2_28)</u>" for more details. The

current Allocation Options under the Contract are shown in the table below. Allocation Options and

features may vary by state, and your selling firm may limit the Allocation Options available to you.

---

| | | | |
|:---|:---|:---|:---|
| **ALLOCATION OPTIONS** | **ALLOCATION OPTIONS** | **ALLOCATION OPTIONS** | **ALLOCATION OPTIONS** |
| **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** |
| *Index* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |
| S&P 500 Index | 1-Year | Floor: 0% to -10% in 1% increments<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 1-Year | Floor: 0% to -10% in 1% increments<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| Barclays Risk Balanced Index | 1-Year | Floor: 0% to -10% in 1% increments<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| S&P 500 Index | 6-Year | Floor: 0% <br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 10%\*<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 6-Year | Floor: 0%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 10%\*<br>|
| Barclays Risk Balanced Index | 6-Year | Floor: 0%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 10%\*<br>|
| **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** |
| *Index* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |
| S&P 500 Index | 1-Year | Buffer: -10% and -20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 1-Year | Buffer: -10% and -20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| S&P 500 Index | 6-Year | Buffer: -10% and -20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 100%<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 6-Year | Buffer: -10% and -20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 100%<br>|
| **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** |
| *Index* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |
| S&P 500 Index | 6-Year | Boost: 10% and 20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 100%<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 6-Year | Boost: 10% and 20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 100%<br>|
| **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** |
| *Index* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |
| S&P 500 Index | 6-Year | Buffer: -10% and -20%<br>Dual Step Rate<br>| Dual Step Rate: 10% |
| **Fixed Interest Option** | **Fixed Interest Option** | **Fixed Interest Option** | **Fixed Interest Option** |
| *Account* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |
| Fixed Account | 1-Year | Fixed Interest Rate | Minimum Rate: 0.05% |

---

\* For Contracts issued on or before May 1, 2026, the minimum Participation Rate for this Risk Control

Account is 100%.

The Floor, Buffer, and Boost for a Risk Control Account will not change unless the Risk Control Account is

discontinued. We set the Cap Rate, Participation Rate, and Dual Step Rate for each Risk Control

Account, and the Fixed Interest Rate for the Fixed Account, at the start of each Interest Term and

guarantee them for the duration of the Interest Term. **During the life of your Contract, the Fixed**

**Account and a Risk Control Account with a 0% Floor, a minimum 1% Cap Rate, and a minimum**

**100% Participation Rate will always be available. Otherwise, we may add, change, or discontinue**

**Allocation Options and Indices from time to time. The remaining Allocation Options may have**

**terms that are unacceptable to you and may not provide any protection from Index losses, which**

**could result in the loss of the entire amount of your Contract Value.** Discontinued Risk Control

Accounts are listed in a separate table in Appendix A.

We may not always make available Risk Control Accounts with Buffers or Boosts. However, if we offer

one or more Risk Control Accounts with Buffers, an option with a Buffer of -10% or more will be available.

If we offer one or more Risk Control Accounts with Boosts, an option with a Boost of 10% or more will be

available. To the extent we make available other Risk Control Accounts with Cap Rates, Participation

Rates, or Dual Step Rates, we will apply the following minimum guarantees:

• The Cap Rate for Risk Control Accounts with one-year Interest Terms will be at least 1%.

• The Cap Rate for Risk Control Accounts with six-year Interest Terms will be at least 10%.

• The Dual Step Rate for six-year Interest Terms will be at least 10%.

• For Contracts issued on or before May 1, 2026, the Participation Rate will be at least 100%.

• For Contracts issued after May 1, 2026, the Participation Rate will be at least 10%.

***Interest Terms and Reallocations.*** Each Allocation Option is available on the Contract Issue Date and at

the end of the Interest Term. For example, after the Contract Issue Date, an Allocation Option with a one-

year Interest Term is available every Contract Anniversary, whereas an Allocation Option with a six-year

Interest Term is available every sixth Contract Anniversary. This means that the six-year Interest Term will

not be available for you to allocate Contract Value to on every Contract Anniversary. If we add an

Allocation Option, you will not be able to allocate your Contract Value to the new Allocation Option until

the start of the next available Interest Term for that Allocation Option. Additionally, the six-year Interest

Term is unavailable as a reallocation option if the Income Payout Date is less than six years from the start

of the Interest Term or if the length of time until a termination date required by federal regulation is less

than six years from the start of the Interest Term. If you have allocated Contract Value to an Allocation

Option that becomes unavailable to you for reallocation, your Contract Value will be applied to a different

Allocation Option at the end of the Interest Term as described below.

At least two weeks before the end of an Interest Term, we will notify you of the available Allocation

Options to which you may transfer maturing Contract Value. The Risk Control Accounts available to you

and their terms (such as the Interest Term, Index, and Crediting Strategies) may differ from what was

previously available. If we do not receive transfer instructions by Authorized Request at least one

Business Day before the end of the current Interest Term, we will apply the value of the maturing Contract

Value to a new Interest Term of the same Allocation Option. If the same Risk Control Account is not

available, we will apply the value to the Fixed Account.

New transfer instructions by Authorized Request will supersede any prior transfer instructions for a given

Allocation Option. Except for Flex Transfers, transfers are not permitted during an Interest Term. For

example, you may not transfer values from the Fixed Account to any Risk Control Account or transfer

values among Risk Control Accounts during an Interest Term.

You should understand the difference between the 6-year Interest Term and the 1-year Interest Term. For

the 6-year Interest Term, interest is not calculated or credited until the end of the Interest Term; therefore,

the Crediting Strategy factors (i.e., Buffer, Boost, Cap Rate, Participation Rate, and Dual Step Rate) only

apply at the end of the Interest Term and not annually. **As described below, the application of Interim**

**Value Calculations on withdrawals and transfers from a Risk Control Account before the end of**

**the Interest Term could significantly reduce the values under the Contract and the amount you**

**receive from any payments. Moreover, only the Crediting Base remaining in a Risk Control**

**Account after a withdrawal or transfer will be credited interest, positive or negative, at the end of**

**the Interest Term.**

***Fixed Account****.* The portion of your Contract Value allocated to the Fixed Account is credited interest

daily based on the Fixed Interest Rate. The Fixed Interest Rate will never be less than 0.05%. The initial

Fixed Interest Rate is available in advance of the Contract Issue Date and will be provided by your

financial professional or by calling the Company at 1-800-798-5500. The Fixed Interest Rate for the initial

Interest Term is shown on your Contract Data Page. We will notify you of Fixed Interest Rates for each

subsequent Interest Term at least two weeks before the end of the current Interest Term, or you can

contact your financial professional or the Company at 1-800-798-5500 to obtain current rates.

***Risk Control Accounts****.* The portion of your Contract Value allocated to a Risk Control Account is

credited with interest, if any, based in part on the investment performance of an external Index over the

Interest Term, subject to the Crediting Strategy unique to each Risk Control Account (shown in the table

above). For each Risk Control Account, the Index Return, which can be positive or negative, is calculated

by comparing the change in the Index from the first day of the Interest Term to the last day of the Interest

Term.

**The Indices can go up or down based on the prices of the securities that comprise the reference**

**Index. Except for the Barclays Risk Balanced, each Index associated with the Risk Control**

**Accounts is a "price return index," which means the Index performance does not include**

**dividends paid on the securities comprising the Index. This will reduce Index performance and**

**cause the Index to underperform a direct investment in the underlying securities.**The Barclays

Risk Balanced Index reinvests dividends but deducts certain fees. These deductions will reduce Index

performance, and the Index will underperform similar portfolios from which these fees and costs are not

deducted.Because the Index Return is calculated and applied at a single point in time, you may

experience negative or flat performance even though the Index experienced gains through some, or most,

of the Interest Term. **It is possible that you will not earn any interest in a Risk Control Account or**

**that we may credit negative interest to the Risk Control Accounts. You could lose a significant**

**amount of money if the Index declines in value**.

Each Risk Control Account has a Crediting Strategy that provides a level of downside protection: Floor,

Buffer, or Boost. The Floor, Buffer, and Boost may provide protection by limiting the amount of negative

interest credited to you from negative Index performance. **The Floor, Buffer, and Boost do not limit**

**losses from the Surrender Charge, Market Value Adjustment, Interim Value calculation, proportionate calculations, or taxes.**

• The **Floor** is the maximum amount of negative interest that we will credit you at the end of an

Interest Term. Negative Index performance will reduce your Risk Control Account Value by up to

the amount of the Floor you elected. For example, if you elect a Floor of 0%, a negative Index

Return will not reduce your Risk Control Account Value. If you elect a Floor of -10%, negative

Index performance could reduce your Risk Control Value by up to 10% each Interest Term. We

currently offer eleven Floor options: 0%, -1%, -2%, -3%, -4%, -5%, -6%, -7%, -8%, -9%, and

-10%. **There is a risk of loss of principal and previously credited interest of up to the Floor**

**(a maximum loss of 10% with a Floor of -10%) each Interest Term due to negative Index**

**performance.**

• The **Buffer** provides you limited protection each Interest Term against negative Index

performance up to the Buffer, but we will credit you any negative interest that exceeds the Buffer.

For example, if you choose a -10% Buffer and the Index Return is -5%, your Risk Control Account

value will not increase or decrease, because the negative Index performance does not exceed

the Buffer. However, if you choose a -10% Buffer and the Index Return is -15%, your Risk Control

Account Value will decrease by 5%, which is the amount of negative interest that exceeds the

Buffer. We currently offer Risk Control Accounts with a -10% Buffer and a -20% Buffer. **There is a**

**risk of loss of principal and previously credited interest of up to the amount of any**

**negative Index performance that exceeds the Buffer (a maximum loss of 90% with a Buffer**

**of -10%, if the Index declines by 100%) each Interest Term due to negative Index**

**performance.**

• The **Boost** provides you limited protection each Interest Term by increasing any negative Index

performance by the amount of the Boost. If the Index Return is zero or positive, the Boost is also

the minimum Adjusted Index Return (subject to the Cap Rate). For example, if you choose a 10%

Boost and the Index Return is -5%, your Risk Control Account value will increase by 5% (the -5%

Index Return plus the 10% Boost). If you choose a 10% Boost and the Index Return is -15%, your

Risk Control Account Value will decrease by 5%, (the -15% Index Return plus the 10% Boost).

We currently offer Risk Control Accounts with a 10% Boost and a 20% Boost. **There is a risk of**

**loss of principal and previously credited interest of up to the amount of any negative Index**

**performance that exceeds the Boost (a maximum loss of 90% with a 10% Boost, if the**

**Index declines by 100%) each Interest Term due to negative Index performance.**

Each Risk Control Account also has one or more Crediting Strategies for crediting Index Interest: the Cap

Rate, Participation Rate, and Dual Step Rate. The Cap Rate, Participation Rate, and Dual Step Rate may

limit the amount of interest you can earn from positive Index performance.

• The **Cap Rate** is the maximum amount of any positive Index interest that we will credit you at the

end of an Interest Term. Positive Index performance will increase your Risk Control Account Value

by up to the Cap Rate. For example, if the Index Return is 15% and the Cap Rate is 10%, we

would credit you 10%. Generally, the Cap Rate varies according to the level of risk you accept in

choosing a Floor, Buffer, or Boost. For example, the Cap Rate would be higher for the -10% Floor

(allowing potentially greater increases and decreases) and lower for the 0% Floor (limiting the

amount of potential increases and decreases). Similarly, the Cap Rate will also be higher for a

-10% Buffer or 10% Boost than for a -20% Buffer or 20% Boost. Generally, the Cap Rate will also

be higher for a six-year Interest Term than a one-year Interest Term. **With the Cap Rate, you**

**may receive only a portion of any positive Index performance**.

• The **Participation Rate** is the percentage of any positive Index interest that we will credit you at

the end of an Interest Term. For Risk Control Accounts with a Buffer or Floor, the Participation

Rate is applied to any positive Index Return. For example, if the Index Return is 15% and the

Participation Rate is 110%, we would credit you 16.5% (110% of 15%). For Risk Control Accounts

with a Boost, the Participation Rate is applied to any Index Return that is greater than the Boost.

For example, if the Boost is 10%, the Index Return is 15%, and the Participation Rate is 110%,

we would credit you 15.75% (the 10% Boost plus 110% of 5%, the Index Return that is greater

than the Boost). With a Participation Rate that is less than 100%, you may receive only a portion

of any positive Index performance.

• The **Dual Step Rate** is the Adjusted Index Return that we will credit you when the Index Return is

greater than or equal to the applicable Buffer. In other words, if you choose a Buffer of -10%, the

Dual Step Rate will **only** apply if there is negative Index Return that is -10% or better, or a

positive Index Return. We will not credit you interest from positive Index performance that

exceeds the Dual Step Rate. For example, if the Buffer is -10% and the Index Return is -5%

(which is greater than the Buffer), and the Dual Step Rate is 50%, we would credit you with the

Dual Step Rate of 50%. Similarly, if the Buffer is -10% and there is a positive Index Return of

60%, and the Dual Step Rate is 50%, we would credit you with the Dual Step Rate of 50%.

However, if the Buffer is -10% and the Index Return is -15% (which is less than the Buffer), the

Dual Step Rate would not apply, and we would credit you with -5% (the -15% Index Return minus

the -5% Buffer). **With the Dual Step Rate, you may receive only a portion of any positive**

**Index performance.**

***Changes to Rates.*** The Floor, Buffer, and Boost for a Risk Control Account will not change unless the

Risk Control Account is discontinued. We set the Cap Rate, Participation Rate, and Dual Step Rate for

each Risk Control Account, and the Fixed Interest Rate for the Fixed Account, at the start of each Interest

Term and guarantee them for the duration of the Interest Term. The initial rates are available at least two

weeks in advance of the Contract Issue Date and will be provided by your financial professional or by

calling the Company at 1-800-798-5500. We will notify you of any new rates at least two weeks before the

end of the current Interest Term. Information about the current Cap Rates, Participation Rates, and Dual

Step Rates can be located at: https://www.trustage.com/zonechoice-advantage-annuity-rates.

***Other Changes to Risk Control Account Options***. We may offer additional Risk Control Accounts at

our discretion, which includes offering an additional Index, Crediting Strategy, or Interest Term. If we add a

Risk Control Account, you will not be able to allocate your Contract Value to the new Risk Control Account

until the start of the next available Interest Term for that Risk Control Account. We may also change or

discontinue a Risk Control Account or Index at our discretion effective as of the end of an Interest Term, or

under certain circumstances, before the end of an Interest Term. **An Index or Risk Control Account**

**change may negatively affect interest credited and your resulting Contract Value, as well as how**

**you want to allocate Contract Value between available Allocation Options.**

**Withdrawal Options, Transfers, and Adjustments**

**This Contract may not be appropriate for you if you intend to take partial withdrawals (including**

**systematic withdrawals and Required Minimum Distributions) or surrender the Contract.** However,

the Contract does offer the following liquidity features during the Accumulation Period. See "<u>[Access to](#i88be85d061064e5e8bc8f6adf165b9b2_43)</u> 

<u>[Your Money](#i88be85d061064e5e8bc8f6adf165b9b2_43)</u>" for more details.

• Annual Free Withdrawal Amount - Each Contract Year, you may withdraw up to the Annual Free

Withdrawal Amount without incurring a Surrender Charge or Market Value Adjustment. For the

first six Contract Years, the Annual Free Withdrawal Amount is equal to 10% of the Contract Value

determined at the beginning of each Contract Year. Beginning on the sixth Contract Anniversary, it

is equal to 20% of the Contract Value determined at the beginning of each Contract Year. Any

unused Annual Free Withdrawal Amount will not carry over to any subsequent Contract Year. The

Annual Free Withdrawal Amount is subject to Interim Value calculations and proportionate

adjustments.

• Systematic Withdrawals - You may elect to receive payments, monthly, quarterly, semi-annually,

or annually, subject to the $100 minimum partial withdrawal amount and minimum Surrender

Value. Surrender Charges, the Interim Value calculation, and a Market Value Adjustment may

apply. Although the Contract permits systematic withdrawals (including for Required Minimum

Distributions under the Internal Revenue Code), these withdrawals may have an adverse effect

on your values under the Contract. If you intend to make ongoing withdrawals, you should consult

a financial professional to determine whether the Contract is appropriate for you.

• Partial Withdrawals - You may make partial withdrawals during the Accumulation Period by

Authorized Request. Any applicable Surrender Charge, Market Value Adjustment, Interim Value

calculation, and proportionate calculations will affect the amount available for a partial withdrawal.

A partial withdrawal may reduce your Death Benefit and the Crediting Base by more than the

amount of the partial withdrawal. Additionally, only the Crediting Base remaining in the Risk

Control Account after a withdrawal will be credited interest, positive or negative, at the end of the

Interest Term.

• Full Surrender - You may surrender your Contract during the Accumulation Period by Authorized

Request. Upon full surrender, a Surrender Charge, and Market Value Adjustment may apply, and

the Interim Value calculation may reflect a negative return.

For Contract Value allocated to a Risk Control Account, if you take a withdrawal, make a Flex Transfer,

surrender your Contract, die, or begin Income Payout Options, the amount withdrawn or transferred

before the expiration of an Interest Term is based on the Interim Value and will reduce the Crediting Base

proportionally. The Interim Value calculation may reflect a positive or negative return that increases or

decreases the amount remaining in the Risk Control Account, which could result in the loss of your

principal and previously credited interest. Withdrawals and surrenders at any time other than on or

within 30 days after each sixth Contract Anniversary may be subject to the Market Value Adjustment,

and withdrawals and surrenders during the first six Contract Years may be subject to a Surrender Charge.

The Market Value Adjustment may be positive or negative and could result in the loss of principal and

previously credited interest and may significantly decrease the amount you receive upon surrender or

partial withdrawal. Withdrawals and surrenders are subject to federal income taxes and may be subject to

a 10% additional tax if taken before the Owner is age 59½.**It is possible in extreme circumstances to**

**lose up to 100% of your principal and previously credited interest due to the Surrender Charge, Interim Value calculation, Market Value Adjustment, proportionate calculations, and taxes. The**

**Floor, Buffer, and Boost do not limit such losses; however, full surrenders from the Fixed Account**

**are subject to the Fixed Account Nonforfeiture Value.**

During an Interest Term, you may make an Authorized Request for a Flex Transfer of some or all of the

Risk Control Account Value from any Risk Control Account to the Fixed Account. The amount transferred

is based on the Interim Value (which may reflect a positive or negative return) and will reduce the

Crediting Base of the Risk Control Account proportionally. If you make a Flex Transfer when the Interim

Value reflects a negative return, you may transfer at a loss, which means your remaining Crediting Base

will be reduced by more than the transferred amount, and that reduction could be substantial. Additionally,

only the Crediting Base remaining in the Risk Control Account after the Flex Transfer will be credited

interest, positive or negative, at the end of the Interest Term. **The decision to make a Flex Transfer**

**could therefore significantly negatively impact your Risk Control Account Value, which impacts**

**other values under the Contract and the amount you receive from any payments.**

**Other Contract Features**

***Death Benefit.*** The Death Benefit during the Accumulation Period is equal to the greater of Contract

Value (including any applicable Interim Value calculation) or the Purchase Payment adjusted for

withdrawals as of the date the Death Benefit is payable. We calculate withdrawals on a proportionate

basis when determining the Death Benefit, which could significantly reduce the Death Benefit, perhaps by

substantially more than the amount of the withdrawal. We do not apply a Surrender Charge or Market

Value Adjustment in determining the Death Benefit.

***Income Payout Options.*** You have several income options to choose from during the Payout Period.

***Right to Examine.***You may cancel your Contract and return it to your financial professional or to us

within 10 days after you receive the Contract (30 days if it is a replacement contract) to receive a refund

of the Purchase Payment you paid, less any withdrawals. Some states may permit a longer period for you

to return your Contract, or different calculations and requirements for refunded amounts. (See <u>["Getting](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u> 

<u>[Started - the Accumulation Period - Right to Examine](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u>" on page <u>[26](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u>).

Please call your financial professional or the Company at 1-800-798-5500 if you have questions about

how your Contract works.

**KEY INFORMATION**

---

| | | |
|:---|:---|:---|
| **IMPORTANT INFORMATION YOU SHOULD CONSIDER** <br>**ABOUT THE TRUSTAGE™ ZONECHOICE ADVANTAGE ANNUITY** | **IMPORTANT INFORMATION YOU SHOULD CONSIDER** <br>**ABOUT THE TRUSTAGE™ ZONECHOICE ADVANTAGE ANNUITY** | **IMPORTANT INFORMATION YOU SHOULD CONSIDER** <br>**ABOUT THE TRUSTAGE™ ZONECHOICE ADVANTAGE ANNUITY** |
| **FEES, EXPENSES, AND ADJUSTMENTS** | **FEES, EXPENSES, AND ADJUSTMENTS** | Location in <br>Prospectus<br>|
| **Are There Charges** <br>**or Adjustments for** <br>**Early** <br>**Withdrawals?**<br>| **Yes.** If you surrender your Contract or take a withdrawal during the<br>first six Contract Years, you may pay a Surrender Charge of up to<br>8% of the amount withdrawn that exceeds the Annual Free<br>Withdrawal Amount. For example, if you were to surrender your<br>Contract during the first Contract Year, you could pay a surrender<br>charge of up to $7,200 on a $100,000 investment. Your loss will be<br>greater if there is a negative Market Value Adjustment, negative<br>Interim Value adjustment, income taxes, or an additional tax.<br>If you surrender your Contract or take a withdrawal from any<br>Allocation Option at any time other than on or within 30 days after<br>each sixth Contract Anniversary, we will apply a Market Value<br>Adjustment (which may be positive or negative) to the amount<br>being withdrawn that exceeds the Annual Free Withdrawal Amount.<br>A negative Market Value Adjustment could significantly decrease<br>the amount you receive from a withdrawal or surrender. In extreme<br>circumstances, losses from the Market Value Adjustment could be<br>as high as 90% of your Contract Value ($90,000 of a $100,000<br>investment).<br>For Contract Value allocated to a Risk Control Account, If you<br>surrender your Contract or take a withdrawal, make a Flex<br>Transfer, surrender your Contract, die, or begin Income Payout<br>Options, the amount withdrawn or transferred before the expiration<br>of an Interest Term is based on the Interim Value and will reduce<br>the Crediting Base proportionally. The Interim Value calculation<br>may reflect a positive or negative return that increases or<br>decreases the amount remaining in the Risk Control Account,<br>which could result in the loss of your principal and previously<br>credited interest. In extreme circumstances, losses from the Interim<br>Value calculation could be as high as 100% of your Risk Control<br>Account Value ($100,000 of a $100,000 investment).<br>The Floor, Buffer, and Boost do not limit losses from the Surrender<br>Charge, Market Value Adjustment, Interim Value calculation,<br>proportionate calculations, or taxes; however, full surrenders from<br>the Fixed Account are subject to the Fixed Account Nonforfeiture<br>Value. | <u>[Fee Table](#i88be85d061064e5e8bc8f6adf165b9b2_16)</u><br><u>[Charges and](#i88be85d061064e5e8bc8f6adf165b9b2_40)</u><br><u>[Adjustments](#i88be85d061064e5e8bc8f6adf165b9b2_40)</u><br>|
| **Are There** <br>**Transaction** <br>**Charges?**<br>| **No.** |  |

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|:---|:---|:---|
| **Are There Ongoing** <br>**Fees and** <br>**Expenses?**<br>| **Yes. There is an implicit ongoing fee on the Risk Control**<br>**Accounts to the extent that the Cap Rate, Participation Rate,**<br>**or Dual Step Rate limit your participation in Index gains.**<br>This means your returns may be lower than the Index's returns;<br>however, in exchange for accepting limits on Index gains, you<br>receive some protection from Index losses through the Floors,<br>Buffers, and Boosts.<br>Please refer to your Data Page for information about the specific<br>implicit fees you will pay each year based on the options you have<br>elected. | <u>[Fee Table](#i88be85d061064e5e8bc8f6adf165b9b2_16)</u><br><u>[Charges and](#i88be85d061064e5e8bc8f6adf165b9b2_40)</u><br><u>[Adjustments](#i88be85d061064e5e8bc8f6adf165b9b2_40)</u><br>|
| **RISKS** | **RISKS** | Location in <br>Prospectus<br>|
| **Is There a Risk of** <br>**Loss from Poor** <br>**Performance?**<br>| **Yes.** You can lose money by investing in the Contract, including<br>loss of principal and previously credited interest, due to negative<br>Index performance.<br>There is a risk of loss of principal and previously credited interest of<br>up to the Floor (a maximum loss of 10% with a Floor of -10%) each<br>Interest Term due to negative Index performance.<br>There is a risk of loss of principal and previously credited interest of<br>up to the amount of any negative Index performance that exceeds<br>the Buffer (a maximum loss of 90% with a Buffer of -10%, if the<br>Index declines by 100%)each Interest Term due to negative Index<br>performance.<br>There is a risk of loss of principal and previously credited interest of<br>up to the amount of any negative Index performance that exceeds<br>the Boost (a maximum loss of 90% with a 10% Boost, if the Index<br>declines by 100%) each Interest Term due to negative Index<br>performance.<br>**The Fixed Account and a Risk Control Account with a 0%**<br>**Floor, a minimum 1% Cap Rate, and a minimum 100%**<br>**Participation Rate will always be available. However, we may**<br>**change or discontinue some or all of the other Allocation**<br>**Options; any remaining Allocation Options may have terms**<br>**that are unacceptable to you and may not provide any**<br>**protection from Index losses, which could result in the loss of**<br>**the entire amount of your Contract Value.** | <u>[Principal](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Risks of](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Investing in](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[the Contract](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br>|

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|:---|:---|:---|
| **Is this a Short-**<br>**Term Investment?**<br>| **No.** The Contract is not a short-term investment and is not<br>appropriate if you need ready access to cash. The benefits of tax<br>deferral mean that the Contract is more beneficial if you have a<br>long time horizon.<br>Withdrawals and surrenders may be subject to a Surrender Charge<br>and a Market Value Adjustment (which may be positive or negative)<br>to the extent they exceed the Annual Free Withdrawal Amount. All<br>withdrawals and surrenders from a Risk Control Account before the<br>end of an Interest Term are subject to the Interim Value calculation<br>(which may be positive or negative) and proportional adjustment of<br>the Crediting Base. Amounts withdrawn are also subject to federal<br>and state income taxes, and, if taken before age 59½, a 10%<br>additional tax. Withdrawals will also reduce the Death Benefit,<br>perhaps by significantly more than the amount of the withdrawal.<br>At least two weeks before the end of an Interest Term, you will be<br>notified of the available Allocation Options to which you may<br>transfer maturing Contract Value. The Risk Control Accounts<br>available to you and their terms (such as the Interest Term, Index,<br>and Crediting Strategies) may differ from what was previously<br>available. If we do not receive transfer instructions by Authorized<br>Request at least one Business Day before the end of the current<br>Interest Term, we will apply the maturing Contract Value to a new<br>Interest Term of the same Allocation Option. If the same Risk<br>Control Account is not available, we will apply the value to the<br>Fixed Account. Values applied to the Fixed Account may earn a<br>lower return than they would have earned in the discontinued Risk<br>Control Account. | <u>[Principal](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Risks of](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Investing in](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[the Contract](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Charges and](#i88be85d061064e5e8bc8f6adf165b9b2_40)</u><br><u>[Adjustments](#i88be85d061064e5e8bc8f6adf165b9b2_40)</u><br><u>[Federal](#i88be85d061064e5e8bc8f6adf165b9b2_52)</u><br><u>[Income Tax](#i88be85d061064e5e8bc8f6adf165b9b2_52)</u><br><u>[Matters](#i88be85d061064e5e8bc8f6adf165b9b2_52)</u><br>|

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|:---|:---|:---|
| **What are the Risks** <br>**Associated with** <br>**the Allocation** <br>**Options?**<br>| An investment in the Contract is subject to the risk of poor<br>investment performance and can vary depending on the<br>performance of the Allocation Options available under the Contract.<br>Each Allocation Option, including the Risk Control Accounts and<br>the Fixed Account, has its own unique risks. You should review the<br>Allocation Options carefully before making an investment decision.<br>The Cap Rate, Participation Rate, and Dual Step Rate may limit<br>positive Index returns. For example, if the Index performance is<br>20%, and the Cap Rate or Dual Step Rate (as applicable) is 10%,<br>we will credit 10% in interest at the end of the Interest Term. If the<br>Index performance is 20%, and the Participation Rate is 10%, we<br>will credit 2% (10% of 20%) in interest at the end of the Interest<br>Term. You may earn less than the Index performance as a result.<br>The Floor, Buffer, and Boost will limit negative Index performance<br>and thereby provide limited protection in the case of a market<br>decline. For example, if the Index performance is -25% and the<br>Floor is -10%, we will credit -10% at the end of the Interest Term. If<br>the Index performance is -25% and the Buffer is -10%, we will<br>credit -15% at the end of the Interest Term. If the Index<br>performance is -25% and the Boost is 10%, we will credit -15% at<br>the end of the Interest Term.<br>Except for the Barclays Risk Balanced, each Index associated with<br>the Risk Control Accounts is a "price return index," which means<br>the Index performance does not include dividends paid on the<br>securities comprising the Index. This will reduce Index performance<br>and will cause the Index to underperform a direct investment in the<br>underlying securities. The Barclays Risk Balanced Index reinvests<br>dividends but deducts certain fees. These deductions will reduce<br>Index performance, and the Index will underperform similar<br>portfolios from which these fees and costs are not deducted. | <u>[Principal](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Risks of](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Investing in](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[the Contract](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Risk Control](#i88be85d061064e5e8bc8f6adf165b9b2_34)</u><br><u>[Account](#i88be85d061064e5e8bc8f6adf165b9b2_34)</u><br><u>[Options](#i88be85d061064e5e8bc8f6adf165b9b2_34)</u><br><u>[Appendix A](#i88be85d061064e5e8bc8f6adf165b9b2_61)</u><br>|
| **What Are the Risks** <br>**Related to the** <br>**Insurance** <br>**Company?**<br>| An investment in the Contract is subject to the risks related to the<br>Company. Any obligations (including under the Fixed Account and<br>the Risk Control Accounts), guarantees (such as the Death<br>Benefit), or benefits are subject to the Company's claims-paying<br>ability. More information about the Company, including its financial<br>strength ratings, is available upon request by calling<br>1-800-798-5500. | <u>[Principal](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Risks of](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[Investing in](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br><u>[the Contract](#i88be85d061064e5e8bc8f6adf165b9b2_19)</u><br>|
| **RESTRICTIONS** | **RESTRICTIONS** | Location in <br>Prospectus<br>|
| **Are There** <br>**Restrictions on the** <br>**Allocation** <br>**Options?**<br>| **Yes**, as described below there are restrictions on certain features<br>of allocations, transfers, withdrawals, and Allocation Option<br>features. |  |

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|:---|:---|:---|
|  | ***Allocation Timing.*** Each Allocation Option is available on the<br>Contract Issue Date and at the end of the Interest Term. For<br>example, after the Contract Issue Date, an Allocation Option with a<br>one-year Interest Term is available every Contract Anniversary,<br>whereas an Allocation Option with a six-year Interest Term is<br>available every sixth Contract Anniversary. If we add an Allocation<br>Option, you will not be able to allocate your Contract Value to the<br>new Allocation Option until the start of the next available Interest<br>Term for that Allocation Option. Additionally, the six-year Interest<br>Term is unavailable as a reallocation option if the Income Payout<br>Date is less than six years from the start of the Interest Term or if<br>the length of time until a termination date required by federal<br>regulation is less than six years from the start of the Interest Term. | <u>[Allocating](#i88be85d061064e5e8bc8f6adf165b9b2_28)</u><br><u>[Your](#i88be85d061064e5e8bc8f6adf165b9b2_28)</u><br><u>[Purchase](#i88be85d061064e5e8bc8f6adf165b9b2_28)</u><br><u>[Payment](#i88be85d061064e5e8bc8f6adf165b9b2_28)</u><br>|
|  | ***Changes to Investment Options and Features.*** We set the Cap<br>Rate, Participation Rate, Dual Step Rate and/or Fixed Interest Rate<br>at the start of each Interest Term and guarantee them for the<br>duration of the Interest Term. We will notify you of any new rates at<br>least two weeks before the end of the current Interest Term.<br>During the life of your Contract, the Fixed Account and a Risk<br>Control Account with a 0% Floor, a minimum 1% Cap Rate, and a<br>minimum 100% Participation Rate will always be available.<br>**Otherwise, we may add, change, or discontinue Allocation**<br>**Options and Indices from time to time. The remaining**<br>**Allocation Options may have terms that are unacceptable to**<br>**you and may not provide any protection from Index losses,**<br>**which could result in the loss of the entire amount of your**<br>**Contract Value.**<br>If there is a delay between the date we remove an Index for a Risk<br>Control Account and the date we add a substitute Index, your Risk<br>Control Account Value will be based on the value of the Index on<br>the date the Index ceased to be available, which means market<br>changes during the delay will not be used to calculate the index<br>interest.<br>We may change, discontinue, or establish restrictions on Flex<br>Transfers, including limitations on the number, frequency, or<br>amount of Flex Transfers, at any time. | <u>[Risk Control](#i88be85d061064e5e8bc8f6adf165b9b2_34)</u><br><u>[Account](#i88be85d061064e5e8bc8f6adf165b9b2_34)</u><br><u>[Options](#i88be85d061064e5e8bc8f6adf165b9b2_34)</u><br>|
| **Are There any** <br>**Restrictions on** <br>**Contract Benefits?**<br>| **Yes.** Systematic Withdrawals may be taken on a monthly,<br>quarterly, semi-annual, or annual basis. The withdrawals must be<br>at least $100 each. There are additional limitations on the amounts<br>that you may request and the timing for requesting and terminating<br>Systematic Withdrawals. A Market Value Adjustment and Surrender<br>Charge may apply. | <u>[Benefits](#i88be85d061064e5e8bc8f6adf165b9b2_46)</u><br><u>[Available](#i88be85d061064e5e8bc8f6adf165b9b2_46)</u><br><u>[under the](#i88be85d061064e5e8bc8f6adf165b9b2_46)</u><br><u>[Contract](#i88be85d061064e5e8bc8f6adf165b9b2_46)</u><br>|
| **TAXES** | **TAXES** | Location in <br>Prospectus<br>|
| **What Are the** <br>**Contract's Tax** <br>**Implications?**<br>| You should consult with a tax professional to determine the tax<br>implications of the Contract. There is no additional tax benefit if you<br>purchase the Contract through a qualified retirement plan or<br>individual retirement account (IRA). Withdrawals from the Contract<br>are subject to ordinary income tax, and may be subject to a 10%<br>additional tax if taken before age 59½. | <u>[Federal](#i88be85d061064e5e8bc8f6adf165b9b2_52)</u><br><u>[Income Tax](#i88be85d061064e5e8bc8f6adf165b9b2_52)</u><br><u>[Matters](#i88be85d061064e5e8bc8f6adf165b9b2_52)</u><br>|

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| | | |
|:---|:---|:---|
| **CONFLICTS OF INTEREST** | **CONFLICTS OF INTEREST** | Location in <br>Prospectus<br>|
| **How Are** <br>**Investment** <br>**Professionals** <br>**Compensated?**<br>| Some investment professionals (also referred to as "financial<br>professionals" in this prospectus) may receive compensation for<br>selling the Contract to you in the form of commissions or other<br>compensation. These other forms of compensation may include<br>cash bonuses, insurance benefits and financing arrangements.<br>Non-cash benefits may include conferences, seminars and trips<br>(including travel, lodging and meals in connection therewith),<br>entertainment, merchandise and other similar items. The Company<br>may also pay asset-based commissions (sometimes called trail<br>commissions) in addition to Purchase Payment-based<br>commissions. Investment professionals may also receive other<br>payments from us for services that do not directly involve the sale<br>of the Contracts, including personnel recruitment and training,<br>production of promotional literature and similar services.<br>As a result of these compensation arrangements, investment<br>professionals may have a financial incentive to offer or recommend<br>the Contract over another investment. You should ask your<br>investment professional for additional information about the<br>compensation he or she receives in connection with your purchase<br>of the Contract. | <u>[Other](#i210d95b3f69743818434b3c1391b8d43_42311)</u><br><u>[Information -](#i210d95b3f69743818434b3c1391b8d43_42311)</u><br><u>[Distribution](#i210d95b3f69743818434b3c1391b8d43_42311)</u><br><u>[of the](#i210d95b3f69743818434b3c1391b8d43_42311)</u><br><u>[Contract](#i210d95b3f69743818434b3c1391b8d43_42311)</u><br>|
| **Should I Exchange** <br>**My Contract?**<br>| You should only exchange your contract if you determine, after<br>comparing the features, fees, and risks of both contracts, and any<br>fees or penalties to terminate your existing contract, that it is better<br>for you to purchase the new contract rather than continue to own<br>your existing contract. Some investment professionals may have a<br>financial incentive to offer you a new contract in place of the one<br>you already own. | <u>[Getting](#i5ec25b03111643d7ab6ba16b64e869eb_16225)</u><br><u>[Started - The](#i5ec25b03111643d7ab6ba16b64e869eb_16225)</u><br><u>[Accumulatio](#i5ec25b03111643d7ab6ba16b64e869eb_16225)</u><br><u>[n Period -](#i5ec25b03111643d7ab6ba16b64e869eb_16225)</u><br><u>[Tax Free](#i5ec25b03111643d7ab6ba16b64e869eb_16225)</u><br><u>[1035](#i5ec25b03111643d7ab6ba16b64e869eb_16225)</u><br><u>[Exchanges](#i5ec25b03111643d7ab6ba16b64e869eb_16225)</u><br>|

---

**FEE TABLE**

**The following tables describe the fees, expenses, and adjustments that you will pay when buying, owning, and surrendering or making withdrawals from an Allocation Option or from the Contract.**

**Please refer to your Data Page for information about the specific fees you will pay each year**

**based on the options you have elected.**

**The first table describes the fees and expenses that you will pay at the time you buy the Contract, surrender or make withdrawals from an Allocation Option or from the Contract, transfer Contract**

**Value between Allocation Options, or request special services. State premium taxes may also be**

**deducted.**

---

| | |
|:---|:---|
| **Transaction Expenses** | **Charge** |
| Maximum Surrender Charge (as a percentage of Contract Value surrendered or withdrawn)<sup>(1)</sup> | 8% |

---

(1)During the first six Contract Years, we deduct a Surrender Charge from each withdrawal or surrender that exceeds the Annual

Free Withdrawal Amount. We do not assess a Surrender Charge on certain withdrawals and surrenders, such as under the

Nursing Home or Hospital Waiver or Terminal Illness Waiver.

**The next table describes the adjustments, in addition to any transaction expenses, that apply if all**

**or a portion of the Contract Value is removed from an Allocation Option or from the Contract prior**

**to the end of an Interest Term.**

---

| | |
|:---|:---|
| **Adjustments** | **Charge** |
| Interim Value Maximum Potential Loss (as a percentage of Contract Value withdrawn or<br>surrendered)<sup>(1)</sup><br>| 100% |
| Market Value Adjustment Maximum Potential Loss (as a percentage of Contract Value<br>withdrawn or surrendered)<sup>(2)</sup><br>| 90% |

---

(1)For Contract Value allocated to a Risk Control Account, if you take a withdrawal, make a Flex Transfer, surrender your

Contract, die, or begin Income Payout Options, the amount withdrawn or transferred before the expiration of an Interest Term is

based on the Interim Value and will reduce the Crediting Base proportionally. The Interim Value calculation may reflect a

positive or negative return that increases or decreases the amount remaining in the Risk Control Account, which could result in

the loss of your principal and previously credited interest.

(2)If you surrender your Contract or take a withdrawal from any Allocation Option at any time other than on or within 30 days after

each sixth Contract Anniversary, we will apply a Market Value Adjustment (which may be positive or negative) to the amount

being withdrawn that exceeds the Annual Free Withdrawal Amount. A negative Market Value Adjustment could significantly

decrease the amount you receive from a withdrawal or surrender.

**In addition to the fees described above, the Cap Rates, Participation Rates, and Dual Step Rates**

**limit the amount you can earn with respect to each Risk Control Account. This means your returns**

**may be lower than the Index's returns. In return for accepting this limit on Index gains, you will**

**receive some protection from Index losses.**

**PRINCIPAL RISKS OF INVESTING IN THE CONTRACT**

Your Contract has various risks associated with it. We list these risk factors below, as well as other

important information you should know before purchasing a Contract.

***Risk of Loss***. An investment in the Contract is subject to the risk of loss. You could lose your investment,

including principal and previously credited interest.

***Market Risk***. The historical performance of a reference Index should not be taken as an indication of the

future performance of the Index. Index performance will be influenced by complex and interrelated

economic, financial, regulatory, geographic, judicial, political and other factors that can affect the capital

markets generally, and by various circumstances that can influence the performance of securities in a

particular market segment. Generally, each Risk Control Account has broad risks that apply to all indices,

such as market risk, as well as specific risks of investing in particular types of securities. Investing in

certain types of securities, such as foreign (non-U.S.) securities or small or mid-cap securities, subjects

you to greater risk and volatility than the general market.

The extent to which negative Index performance will reduce your Risk Control Account Value depends

upon the Risk Control Account to which you allocate Contract Value, due to the different Crediting

Strategies that apply. **The maximum amount your Risk Control Account Value could decline each**

**Interest Term due to negative Index performance is 90% with the -10% Buffer or the 10% Boost.**

These options provide relatively less protection from negative Index performance than other Risk Control

Accounts.

***Index-Linked Option Market Risk.*** You assume the investment risk that no Index interest will be credited

and therefore positive Index performance will not increase your Risk Control Account Value. You also bear

the risk that sustained declines in the relevant Index may cause Index performance to not increase your

Risk Control Account Value for a prolonged period. In addition to the general market risks described

above, the reference Indices are subject to the following specific risks:

• The S&P 500 Index is comprised of equity securities issued by large-capitalization U.S.

companies. In general, large-capitalization companies may be unable to respond quickly to new

competitive challenges and may not be able to attain the high growth rate of successful smaller

companies.

• The Dimensional US Small Cap Value Systematic Index is designed to capture the returns

associated with the US small cap value premium, the tendency for smaller company and value

stocks to outperform larger company and growth stocks over time. Compared to large-

capitalization companies, small-capitalization companies may be less stable (or more volatile),

less liquid, and more susceptible to adverse developments. Value stocks may underperform for

long periods of time and perform differently from the market as a whole. The Index has limited

performance history and may perform in unanticipated ways. Generally, there is less publicly

available information about the Index compared to more established market indices.

• The Barclays Risk Balanced Index allocates between equities and fixed income using the

principles of Modern Portfolio Theory using a 10% volatility (risk) target, which seeks to maximize

the expected return based on a given level of market risk. Although the Index targets a particular

volatility, the actual volatility level may differ from that targeted and may be materially higher or

lower for certain periods than the target level depending on market conditions. Because the Index

is exposed to Treasuries, it may underperform in a rapidly rising interest rate environment.

Because the Index includes a volatility control mechanism, it may underperform in an equity

market rally that occurs immediately after a period of elevated volatility when the Index would

have reduced its exposure. The Index may allocate up to 225% of total exposure to its

components; when the portfolio exposure is greater than 100%, negative performance of the

portfolio will be magnified and the level of the Index may decrease significantly. The Index has

limited performance history and may perform in unanticipated ways. Generally, there is less

publicly available information about the Index compared to more established market indices.

If you invest in a Risk Control Account and the relevant Index declines, it may or may not reduce your

Risk Control Account Value, depending on the Risk Control Account to which you allocated your Contract

Value.

• If you allocate to a Risk Control Account that has a Floor, you assume the risk of a negative Index

Return up to the Floor. Your Risk Control Account Value could decline up to a maximum of 10%

each Interest Term with the -10% Floor due to negative Index performance.

• If you allocate to a Risk Control Account with a Buffer, you assume the risk of a negative Index

Return after application of the Buffer. Your Risk Control Account Value could decline up to 90%

each Interest Term with the -10% Buffer, if the Index declines by 100% during the Interest Term.

• If you allocate to a Risk Control Account with a Boost, you assume the risk of a negative Index

Return that exceeds the Boost. Your Risk Control Account Value could decline up to 90% or 80%

with a 10% Boost or a 20% Boost, respectively, if the Index declines by 100% during the Interest

Term.

• If you allocate to a Risk Control Account with a Dual Step Rate, you assume the risk that a

negative Index Return after application of the Buffer will drastically change the amount credited to

you. For example, if the Buffer is -10%, the Dual Step Rate is 40%, and the Index Return is -10%,

we would credit you 40%. However, if the Index Return is -10.01%, we would credit you -0.01%.

Daily changes in your Risk Control Account Value may also be more significant than for other

strategies due to the potential for small negative market movements around the Buffer to have

large impacts on the Interim Value, especially near the end of the Interest Term.

• The Floor, Buffer, and Boost describe the level of investment loss that can be experienced in one

Interest Term, but losses over multiple Interest Terms could result in a loss of previously credited

interest and a loss of principal.

• The Floor, Buffer, and Boost do not limit losses to the Risk Control Accounts from the Surrender

Charge, Interim Value calculation, Market Value Adjustment, federal income taxes, additional

taxes, and proportionate calculations, which could result in a loss of previously credited interest or

principal even if performance has been positive.

***Liquidity, Withdrawal, and Flex Transfer Risk****.* We designed your Contract to be a long-term

investment that you may use to help save for retirement. Your Contract is not designed to be a short-term

savings vehicle. **The Contract may not be appropriate for investors who plan to take withdrawals or**

**surrender the Contract in the short-term**. **Surrender Charges, Market Value Adjustments, Interim**

**Value calculations, proportionate calculations, income taxes, and additional taxes may result in**

**the loss of your principal and previously credited interest. Withdrawals and Flex Transfers could**

**also significantly negatively impact your values under the Contract and the amount you receive**

**from any payments.**

• *Surrender Charge Risk*. If you take a withdrawal or surrender your Contract during the first six

Contract Years, you may pay a Surrender Charge of up to 8% of the amount withdrawn that

exceeds the Annual Free Withdrawal Amount.

• *Market Value Adjustment Risk*. If you surrender your Contract or take a withdrawal from any

Allocation Option at any time other than on or within 30 days after each sixth Contract

Anniversary, we will apply a Market Value Adjustment (which may be positive or negative) to the

amount being withdrawn that exceeds the Annual Free Withdrawal Amount. Particularly in an

increasing interest rate environment, a negative Market Value Adjustment could significantly

decrease the amount you receive from a withdrawal or surrender.**In extreme circumstances, losses from the Market Value Adjustment could be as high as 90% of your Contract Value.**

**•***Interim Value Risk*. For Contract Value allocated to a Risk Control Account, if you take a

withdrawal, make a Flex Transfer, surrender your Contract, die, or begin Income Payout

Options, the amount withdrawn or transferred before the expiration of an Interest Term is based

on the Interim Value and will reduce the Crediting Base proportionally. The Interim Value

calculation may reflect a positive or negative return that increases or decreases the amount

remaining in the Risk Control Account. The Interim Value calculated for a Risk Control Account

during an Interest Term could be significantly lower than the performance of the reference Index

during most of the Interest Term. The Interim Value may reflect a negative return even when the

value of the applicable Index has increased. You may have an Interim Value that reflects a

negative return regardless of the Crediting Strategy selected; for example, the Interim Value could

reflect negative returns that exceed the applicable Floor, that apply even if Index losses were

within the applicable Buffer, or that are not offset by the applicable Boost. The Interim Value may

change each Business Day, and it is possible that even relatively small daily market movements

may have significant impacts on the Interim Value. **An Interim Value that reflects a negative**

**return could significantly decrease the values under your Contract by more than the**

**withdrawal or transfer amount.** **In extreme circumstances, losses from the Interim Value**

**calculation could be as high as 100% of your Risk Control Account Value.**

• *Future Returns Risk*. Only the Crediting Base remaining in a Risk Control Account after a

withdrawal or Flex Transfer will be credited interest, positive or negative, at the end of the Interest

Term.

• *Proportionate Calculation Risk*. Withdrawals reduce the Purchase Payment, which is used to

determine the Death Benefit, by the ratio of the withdrawal (including any Surrender Charge and

Market Value Adjustment) to the Contract Value immediately prior to the withdrawal. Additionally,

for Contract Value allocated to a Risk Control Account, if you take a withdrawal, make a Flex

Transfer, surrender your Contract, die, or begin Income Payout Options before the expiration of

an Interest Term, the amount withdrawn or transferred is based on the Interim Value and will

reduce the Crediting Base proportionally. **Such proportional reductions may be substantially**

**more than the amount withdrawn or transferred, could significantly decrease your Death**

**Benefit, Crediting Base, and remaining Contract Values, and could terminate the Contract.**

• *Tax Risks.* Federal Income taxes apply to any withdrawal or surrender. A 10% additional tax may

also apply if taken before the Owner is age 59½. You should consult your tax advisor before

taking a withdrawal or surrendering the Contract.

• *Valuation Risk.* The withdrawn, transferred, or surrendered value is calculated at the end of the

Business Day that we receive your request in Good Order. This means that you will not be able to

determine your Risk Control Account Value before requesting a withdrawal, surrender, or Flex

Transfer, and the resulting value may be higher or lower than it was at the time of your request.

***Reinvestment Risk.*** You assume the risk that if we do not receive transfer instructions at least one

Business Day prior to the end of the current Interest Term, we will apply the maturing Contract Value to a

new Interest Term of the same Risk Control Account. If the same Risk Control Account is not available, we

will apply the value to the Fixed Account. These default Allocation Options may not align with your desired

allocations.

***Other Index-Linked Option Risks***. In addition to the risk of loss from negative Index performance, there

are other risks of investing in a Risk Control Account.

You assume the risk that the only available Allocation Options are the Fixed Account and a Risk Control

Account with a minimum 1% Cap Rate. The Cap Rate, Dual Step Rate, or Participation Rate for any other

Risk Accounts that we make available can be reduced to as little as the minimum rate identified in

Appendix A for that Risk Control Account. As a result, the Index interest that you receive may be lower

than the return you would have received on an investment in a mutual fund or exchange-traded fund

designed to track the performance of the selected reference Index.

You have no ownership rights in the underlying securities comprising the reference Indices. Purchasing

the Contract is not equivalent to investing in the underlying securities comprising the Indices. As the

Owner of the Contract, you will not have any ownership interest or rights in the underlying securities

comprising the Indices, such as voting rights, dividend payments, or other distributions.

• Except for the Barclays Risk Balanced, each Index associated with the Risk Control Accounts is a

"price return index," which means the Index performance does not include dividends paid on the

securities comprising the Index. This will reduce Index performance and will cause the Index to

underperform a direct investment in the underlying securities.

• The Barclays Risk Balanced Index reinvests dividends but deducts a fee of 0.5% for the equity

exposure, and 0.2% per year for the treasury exposure, and a cost equal to SOFR plus 0.1145%

for the equity component. Therefore, the aggregate fee will depend on the Index's relative

allocations to the equity and treasury components from time to time, which are determined by the

volatility control mechanism. SOFR refers to the Secured Overnight Financing Rate, which was

4.49% as of December 31, 2024. The New York Fed publishes the SOFR on its website each

Business Day. These deductions will reduce Index performance, and the Index will underperform

similar portfolios from which these fees and costs are not deducted.

Because the Index interest is calculated at a single point in time, you may experience a negative or flat

return even if the Index has experienced gains through some, or most, of the Interest Term.

***Risk That We May Eliminate an Allocation Option or Eliminate or Substitute an Index.*** During the life

of your Contract, the Fixed Account and a Risk Control Account with a 0% Floor, a minimum 1% Cap

Rate, and a minimum 100% Participation Rate will always be available. Otherwise, there is no guarantee

that any Allocation Option, Crediting Strategy, Interest Term, or Index will be available during the entire

time you own your Contract. We may discontinue an Allocation Option or Index effective as of the end of

an Interest Term, or in the case of certain Index changes, discontinue an Index and substitute a new

Index for a Risk Control Account before the end of an Interest Term. **You assume the risk that we may**

**discontinue some or all of the other Risk Control Accounts and the only options remaining are the**

**Fixed Account and a Risk Control Account with a 0% Floor**, **a minimum 1% Cap Rate, and a**

**minimum 100% Participation Rate. Any remaining Allocation Options may have terms that are**

**unacceptable to you and may not provide any protection from Index losses, which could result in**

**the loss of the entire amount of your Contract Value.**

If we substitute or change an Index, the performance of the new Index may differ from the original Index.

If there is a delay between the date we remove the Index and the date we add a substitute Index, your

Risk Control Account Value will be based on the value of the Index on the date the Index ceased to be

available, which means market changes during the delay will not be used to calculate the Index Return.

If we do not provide a substitute Index, a Risk Control Account may also be discontinued before the end

of an Interest Term, resulting in us transferring your Risk Control Account Value to the Fixed Account for

the remainder of the Interest Term. The amount of interest you earn in the Fixed Account may be less

than the amount you would have earned in the Risk Control Account at the end of the Interest Term. If

there is a delay between the date we remove the Index and the date we transfer value to the Fixed

Account, your Risk Control Account Value prior to the transfer will be based on the value of the Index on

the date the Index ceased to be available, which means market changes during the delay will not be used

to calculate the Index Return.

An Index or Allocation Option change may negatively affect interest credited and your resulting Contract

Value, as well as how you want to allocate Contract Value between available Allocation Options. If we

eliminate an Allocation Option or eliminate or substitute an Index, and you do not wish to allocate your

Contract Value to the remaining Allocation Options available under the Contract, you may surrender your

Contract, but you may be subject to a Surrender Charge, Interim Value calculation, and Market Value

Adjustment, which may result in a loss of principal and credited interest. Surrenders are subject to federal

income taxes, and may be subject to a 10% additional tax if taken before age 59½.

***Contract Issue Date Risk.*** The Company only issues the Contract on the 10<sup>th</sup> and 25<sup>th</sup> of each month.

Therefore, the Purchase Payment may be held in the Company's General Account for up to fifteen days

prior to being invested in the Contract and will not earn any interest during that period.

***Insurance Company Risk****.* Our General Account assets support the guarantees under the Contract and

are subject to the claims of our creditors. As such, the guarantees under the Contract are subject to our

financial strength and claims-paying ability, and therefore, to the risk that we may default on those

guarantees. You should look solely to our financial strength and claims-paying ability in meeting the

guarantees under the Contract. More information about the Company, including its financial strength

ratings, is available upon request by calling 1-800-798-5500.

***Business Disruption and Cyber-Security Risks.***We rely heavily on interconnected computer systems

and digital data to conduct our variable and index-linked product business activities. Because our variable

and index-linked product business is highly dependent upon the effective operation of our computer

systems and those of our business partners, our business is vulnerable to disruptions from utility outages,

and susceptible to operational and information security risks resulting from information systems failure

(e.g., hardware and software malfunctions), and cyber-attacks. These risks include, among other things,

the theft, misuse, corruption and destruction of data maintained online or digitally, interference with or

denial of service, attacks on websites and other operational disruption and unauthorized release of

confidential Owner information. Such systems failures and cyber-attacks affecting us, CUNA Brokerage

Services, Inc. ("CBSI"), and intermediaries may adversely affect us and your Contract Value. For

instance, systems failures and cyber-attacks may interfere with our processing of Contract transactions,

including the processing of orders, impact our ability to calculate Contract Value, cause the release and

possible destruction of confidential customer or business information, impede order processing, subject

us and/or CBSI, and intermediaries to regulatory fines and financial losses and/or cause reputational

damage. Cyber-security risks may also impact the issuers of securities that comprise the Index, which

may cause the reference Indices to lose value. The risk of cyber-attacks may be higher during periods of

geopolitical turmoil (such as the Russian invasion of Ukraine and the responses by the United States and

other governments). Due to the increasing sophistication of cyber-attacks, a cybersecurity breach could

occur and persist for an extended period of time without detection.

The preventative actions we take to reduce the frequency and severity of cybersecurity incidents and

protect our computer systems may be insufficient to prevent a cybersecurity breach from impacting our

operations or your Contract Value. There can be no assurance that we, CBSI, or intermediaries will avoid

losses affecting your Contract due to cyber-attacks or information security breaches in the future.

In addition, we are exposed to risks related to natural and man-made disasters and catastrophes, such as

storms, fires, floods, earthquakes, epidemics, pandemics, malicious acts, and terrorist acts, which could

adversely affect our ability to conduct business. A natural or man-made disaster or catastrophe, including

a pandemic (such as the coronavirus COVID-19), could affect the ability, or willingness, of our workforce

and employees of service providers and third-party administrators to perform their job responsibilities.

Even if our workforce and employees of our service providers and third-party administrators were able to

work remotely, those remote work arrangements could result in our business operations being less

efficient than under normal circumstances and lead to delays in our issuing Contracts and processing of

other Contract-related transactions, including orders from Owners. Catastrophic events may negatively

affect the computer and other systems on which we rely and may interfere with our ability to receive,

pickup and process mail, our processing of Contract-related transactions, impact our ability to calculate

Contract Value, or have other possible negative impacts. These events may also impact the issuers of

securities that comprise the Index, which may cause the reference Indices to lose value. There can be no

assurance that we or our service providers will avoid losses affecting your Contract due to a natural

disaster or catastrophe.

**THE INSURANCE COMPANY AND SEPARATE ACCOUNT**

**MEMBERS Life Insurance Company**

The name of the Company is MEMBERS Life Insurance Company. You may write us at 2000 Heritage

Way, Waverly, Iowa 50677-9202, or call us at 1-800-798-5500. The Company is responsible for all

guarantees provided under the Contract, including our obligations under the Fixed Account and the Risk

Control Accounts, the Death Benefit, and the Income Payout Options. Our General Account assets

support these guarantees. The assets of our General Account are subject to our general liabilities from

business operations and the claims of our creditors. Accordingly, any obligations, guarantees or benefits

are subject to our financial strength and claims-paying ability. You may obtain information on our financial

condition by reviewing our financial statements. You may also call 1-800-798-5500 for more information

about us, including our financial strength ratings.

We are a wholly-owned direct subsidiary of CMFG Life Insurance Company ("CMFG Life"). We were

formed by CMFG Life on February 27, 1976, as a stock life insurance company under the laws of the

State of Wisconsin. The Company's name was changed to its current name on January 1, 1993. We re-

domiciled from Wisconsin to Iowa on May 3, 2007. Currently, we have no employees. The Company

issues Index-linked and variable annuity contracts, which account for all the new product sales of the

Company. The Company also services previously existing blocks of annuities and individual and group life

policies.

CMFG Life is a stock insurance company organized on May 20, 1935 and domiciled in Iowa. CMFG Life

is one of the world's largest direct underwriters of credit life and disability insurance, and is a major

provider of qualified pension products to credit unions. CMFG Life and its affiliates currently offer deferred

and immediate annuities, individual term and permanent life insurance, and accident and health

insurance. In 2012, CMFG Life was reorganized as a wholly-owned subsidiary of TruStage Financial

Group, Inc. (f/k/a CUNA Mutual Financial Group, Inc.), which is a wholly-owned subsidiary of CUNA

Mutual Holding Company ("CM Holding"), a mutual holding company organized under the laws of the

State of Iowa.

CMFG Life provides significant services required to conduct our operations. Under a Cost Sharing,

Procurement, Disbursement, Billing and Collection Agreement, CMFG Life performs certain administrative

functions related to procurement, disbursement, billing and collection and services, agent licensing,

payment of commissions, actuarial services, annuity policy issuance and service, accounting and financial

compliance, market conduct, general and informational services and marketing, and provides certain

resources and personnel to us. We share office space with CMFG Life in Madison, Wisconsin and

Waverly, Iowa. Expenses associated with the facilities are allocated to us through the Amended and

Restated Expense Sharing Agreement that we entered into with CMFG Life on January 1, 2015.

We rely on the exemption from the reporting requirements of Section 15(d) of the Securities Exchange Act

of 1934, as amended (the "1934 Act"), provided by Rule 12h-7 under the 1934 Act with respect to

registered non-variable insurance contracts (such as index-linked investment options) that we issue.

**The Risk Control Separate Account**

The non-registered Separate Account in which we hold reserves for our guarantees attributable to annuity

contracts that offer risk control accounts is referred to as the Risk Control Separate Account. The assets

in the Risk Control Separate Account are equal to the reserves and other liabilities of the contracts

supported by the Risk Control Separate Account and are not chargeable with liabilities arising out of any

other business that we conduct. We have the right to transfer to our General Account any assets of the

Risk Control Separate Account that are in excess of such reserves and other Contract liabilities. Our

General Account assets are also available to meet the guarantees under the Contract, including the

Risk Control Separate Account, as well as our other general obligations. The guarantees in this

Contract are subject to the Company's financial strength and claims-paying ability.

**GETTING STARTED - THE ACCUMULATION PERIOD**

The Prospectus describes all material rights, benefits, and obligations under the Contract. All material

state variations in the Contract are described in [Appendix](#i88be85d061064e5e8bc8f6adf165b9b2_70)<u>[B](#i88be85d061064e5e8bc8f6adf165b9b2_70)</u> and in your Contract. Please review [Appendix](#i88be85d061064e5e8bc8f6adf165b9b2_70)

<u>[B](#i88be85d061064e5e8bc8f6adf165b9b2_70)</u> for any variations from standard Contract provisions that may apply to your Contract based on the state

in which your Contract was issued. Your financial professional can provide you with more information

about those state variations.

**Purchasing a Contract**

We offer the Contract to individuals, certain retirement plans, and other entities. To purchase a Contract,

you and the Annuitant must be at least Age 21 and no older than Age 85.

We sell the Contract through financial professionals. To start the purchase process, you must submit an

application to your financial professional. The Purchase Payment must either be paid at the Company's

Administrative Office or delivered to your financial professional. Your financial professional will then

forward your completed application and Purchase Payment (if applicable) to us. The selling firm's

determination of whether the Contract is suitable for you may delay our receipt of your application. Any

such delays will affect when we issue your Contract.

If the application for a Contract is properly completed and is accompanied by all the information

necessary to process it, including payment of the Purchase Payment, the Purchase Payment will be

allocated to the Allocation Options you choose on the next available Contract Issue Date.

After we receive a completed application, Purchase Payment, and all other information necessary to

process a purchase order in Good Order, we will begin the process of issuing the Contract on the next

Contract Issue Date available. The Purchase Payment will be allocated as described under "Allocating

Your Purchase Payment."

**IMPORTANT: You may use the Contract with certain tax qualified retirement plans ("IRA"). The**

**Contract includes attributes such as tax deferral on accumulated earnings. Qualified retirement**

**plans provide their own tax deferral benefit; the purchase of this Contract does not provide**

**additional tax deferral benefits beyond those provided in the qualified retirement plan.**

**Accordingly, if you are purchasing this Contract through a qualified retirement plan, you should**

**consider purchasing the Contract for its other features and other non-tax related benefits. Please**

**consult a tax adviser for information specific to your circumstances to determine whether the**

**Contract is an appropriate investment for you.**

If mandated by applicable law, including federal laws designed to counter terrorism and prevent money

laundering, we may be required to reject your Purchase Payment. We may also be required to provide

additional information about you or your Contract to government regulators. In addition, we may be

required to block an Owner's Contract and thereby refuse to honor any request for transfers, partial

withdrawals, surrender, income payments, and Death Benefit payments, until instructions are received

from the appropriate government regulator.

**Tax-Free Section 1035 Exchanges**

You can generally exchange one annuity contract for another in a "tax-free exchange" under Section 1035

of the Internal Revenue Code. Before making an exchange, you should compare both contracts carefully.

Remember that if you exchange another contract for the one described in this Prospectus, you might

have to pay a Surrender Charge or negative Market Value Adjustment on the existing contract. If the

exchange does not qualify for Section 1035 tax treatment, you may have to pay federal income tax, and a

possible 10% additional tax on your old contract. There will be a new Contract Issue Date for the purpose

of determining any Surrender Charges for this Contract and other charges may be higher (or lower) and

the benefits may be different. There may be delays in our processing of the exchange. You should not

exchange another contract for this one unless you determine, after knowing all the facts that the

exchange is in your best interest. In general, the person selling you this Contract will earn a commission

from us.

**Owner**

The Owner is the person(s) or entity who own(s) this Contract and has (have) all rights under this

Contract. Unless owned by a non-natural person, the Owner is also the person(s) whose death

determines the Death Benefit. Joint Owners are not allowed on Qualified Contracts or contracts owned by

a non-natural person. The maximum number of Owners is two. The consent of both Joint Owners is

needed to complete an Authorized Request. The Owner is also referred to as "you" or "your". While the

Owner is living, the Owner is also the person(s) or entity who receives income payments during the

Payout Period while the Annuitant is also living. If there are multiple Owners, each Owner will have equal

ownership of the Contract and all references to Owner will mean Joint Owners. Joint Owners are not

allowed on qualified contracts or contracts owned by a non-natural person.

The Owner names the Annuitant or Joint Annuitants. All rights under the Contract may be exercised by

the Owner, subject to the rights of any other Owner. If your contract is a non-qualified contract, you may

assign all rights and benefits under this contract by Authorized Request. Unless otherwise specified by

you, the assignment is effective on the date the Authorized Request is signed by you and any Irrevocable

Beneficiary, subject to any payments made or actions taken by us prior to our receipt of the Authorized

Request. We are not responsible for the validity or effect of any assignment. You should consult with your

tax advisor to determine any tax consequences of an assignment before taking any action.

The Owner may request to change the Owner at any time before the Income Payout Date. If an Owner is

added or changed, the amount that will be paid upon the death of the new Owner will be impacted as

described in the "Death Benefit" section in this Prospectus. Any change of Owner must be made by

Authorized Request and is subject to our acceptance. We reserve the right to refuse such change on a

non-discriminatory basis. Unless otherwise specified by the Owner, such change, if accepted by us, will

take effect as of the date the Authorized Request was signed. We are not liable for any payment we make

or action we take before we receive the Authorized Request.

If an Owner who is a natural person dies during the Accumulation Period, your Beneficiary is entitled to a

Death Benefit. If you have a Joint Owner, the Death Benefit will be available when the first Joint Owner

dies. If there is a surviving Joint Owner the surviving Joint Owner will be treated as the sole primary

Beneficiary, and any other designated Beneficiary will be treated as a contingent Beneficiary.

**Divorce**

In the event of divorce, the former Spouse must provide us divorce distribution instructions using a form

satisfactory to us, and/or a copy of the divorce decree (or a qualified domestic relations order if it is a

qualified plan). The instruction form or terms of the decree/order must identify the Contract and specify

how the Contract Value should be allocated among the former Spouses.

**Annuitant**

The Annuitant is the natural person(s) whose life (or lives) determines the income payment amount

payable under the Contract. If the Owner is a non-natural person, the Annuitant(s) is also the person(s)

whose death determines the Death Benefit. If the Owner is a natural person, the Owner may change the

Annuitant at any time provided it is at least 30 days before the Income Payout Date by Authorized

Request. Unless otherwise specified by the Owner, such change will take effect as of the date the

Authorized Request was signed. We are not liable for any payment we make or action we take before we

receive the Authorized Request. If you change the Annuitant, the Income Payout Date will not change. If

the Owner is a non-natural person, the Annuitant cannot be changed. The Annuitant does not have any

rights under the Contract.

**Beneficiary**

The person(s) or entity named by the Owner to receive proceeds payable upon the death of the first

Owner or the first Annuitant if the Owner is a non-natural person. Prior to the Income Payout Date, if no

Beneficiary survives the Owner, the proceeds will be paid to the Owner's estate. If there are Joint Owners

and we are unable to determine that one of the Joint Owners predeceased the other, it will be assumed

that the Joint Owners died simultaneously. In this instance the Death Benefit will be divided equally

among the Joint Owners' estates. If there is more than one Beneficiary, each Beneficiary will receive an

equal share unless otherwise specified by the Owner. If Joint Owners have been designated, the

surviving Joint Owner will be treated as the sole primary Beneficiary and any other designated Beneficiary

will be treated as a contingent Beneficiary.

You may change the Beneficiary by an Authorized Request sent to us, or you may name one or more

Beneficiaries. A change of Beneficiary will take effect on the date the Authorized Request was signed. If

there are Joint Owners, each Owner must sign the Authorized Request. In addition, any irrevocable

beneficiary or assignee must sign the Authorized Request. An irrevocable beneficiary is any beneficiary

who must consent to being changed or removed. We are not liable for any payment we make or action we

take before we receive the Authorized Request.

Use care when naming Beneficiaries. If you have any questions concerning the criteria you should use

when choosing Beneficiaries, consult your financial professional.

**Right to Examine**

You may cancel your Contract and return it to your financial professional or to us within 10 days after you

receive the Contract (30 days if it is a replacement contract) to receive a refund of the Purchase Payment

you paid, less any withdrawals. Some states may permit a longer period for you to return your Contract,

or different calculations and requirements for refunded amounts, as described in [Appendix](#i88be85d061064e5e8bc8f6adf165b9b2_70)B. Refunds will

not be subject to a Surrender Charge or Market Value Adjustment and will be paid within seven days

following the date of cancellation. If you cancel your Contract by exercising your Right to Examine and

attempt to purchase a substantially similar Contract, the Company may refuse to issue the second

Contract.

**ALLOCATING YOUR PURCHASE PAYMENT**

**Purchase Payment**

The minimum Purchase Payment for a Non-Qualified or Qualified Contract is $5,000. The Company does

not allow additional Purchase Payments. A Purchase Payment for a Contract, or Purchase Payments for

multiple Contracts owned by the same individual, that equals or exceeds $1 million requires our prior

approval, which may be withheld at our sole discretion.

Contract Issue Dates offered by the Company are currently the 10<sup>th</sup> and 25<sup>th</sup> of each month. If we receive

the application for a Contract in Good Order by noon at least two business days prior to the next Contract

Issue Date, which includes our receipt of the Purchase Payment, we will issue the Contract on the next

available Contract Issue Date. If the 10th or 25th is a non-Business Day, we issue the Contract on the

next Business Day with an effective Contract Issue Date of the 10<sup>th</sup> or 25<sup>th</sup>. Please note that during the

period between the date your Purchase Payment is delivered to us and the next available Contract Issue

Date, we will hold your Purchase Payment in our General Account and not pay interest on it. Thus, during

that period, your Purchase Payment will not be allocated to either the Risk Control Accounts or the Fixed

Account.

**Allocation Options**

On the Contract Issue Date, your Purchase Payment will be allocated according to your allocation

instructions on file with us. You must specify the percentage of your Purchase Payment to be allocated to

each Allocation Option on the Contract Issue Date. The amount you direct to an Allocation Option must be

in whole percentages from 1% to 100% of the Purchase Payment, and your total allocation must equal

100%. If you do not indicate your allocations on the application, our Administrative Office will attempt to

contact your financial professional and/or you for clarification. We will not issue the Contract without your

allocation instructions.

The current Allocation Options offered under the Contract are shown in the table below. Allocation Options

and features may vary by state, and your selling firm may limit the Allocation Options available to you.

---

| | | | |
|:---|:---|:---|:---|
| **ALLOCATION OPTIONS** | **ALLOCATION OPTIONS** | **ALLOCATION OPTIONS** | **ALLOCATION OPTIONS** |
| **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** |
| *Index* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |
| S&P 500 Index | 1-Year | Floor: 0% to -10% in 1% increments<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 1-Year | Floor: 0% to -10% in 1% increments<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| Barclays Risk Balanced Index | 1-Year | Floor: 0% to -10% in 1% increments<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| S&P 500 Index | 6-Year | Floor: 0% <br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 10%\*<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 6-Year | Floor: 0%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 10%\*<br>|
| Barclays Risk Balanced Index | 6-Year | Floor: 0%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 10%\*<br>|
| **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** |
| *Index* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |

---

---

| | | | |
|:---|:---|:---|:---|
| S&P 500 Index | 1-Year | Buffer: -10% and -20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 1-Year | Buffer: -10% and -20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 1%<br>Participation Rate: 100%<br>|
| S&P 500 Index | 6-Year | Buffer: -10% and -20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 100%<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 6-Year | Buffer: -10% and -20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 100%<br>|
| **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** |
| *Index* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |
| S&P 500 Index | 6-Year | Boost: 10% and 20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 100%<br>|
| Dimensional US Small Cap<br>Value Systematic Index <br>| 6-Year | Boost: 10% and 20%<br>Cap Rate and Participation Rate<br>| Cap Rate: 10%<br>Participation Rate: 100%<br>|
| **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** |
| *Index* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |
| S&P 500 Index | 6-Year | Buffer: -10% and -20%<br>Dual Step Rate<br>| Dual Step Rate: 10% |
| **Fixed Interest Option** | **Fixed Interest Option** | **Fixed Interest Option** | **Fixed Interest Option** |
| *Account* | *Interest Term* | *Crediting Strategy* | *Minimum Guarantee* |
| Fixed Account | 1-Year | Fixed Interest Rate | Minimum Rate: 0.05% |

---

\* For Contracts issued on or before May 1, 2026, the minimum Participation Rate for this Risk Control

Account is 100%.

The Floor, Buffer, and Boost for a Risk Control Account will not change unless the Risk Control Account is

discontinued. We set the Cap Rate, Participation Rate, and Dual Step Rate for each Risk Control

Account, and the Fixed Interest Rate for the Fixed Account, at the start of each Interest Term and

guarantee them for the duration of the Interest Term. **During the life of your Contract, the Fixed**

**Account and a Risk Control Account with a 0% Floor, a minimum 1% Cap Rate, and a minimum**

**100% Participation Rate will always be available. Otherwise, we may add, change, or discontinue**

**Allocation Options and Indices from time to time. The remaining Allocation Options may have**

**terms that are unacceptable to you and may not provide any protection from Index losses, which**

**could result in the loss of the entire amount of your Contract Value.** Discontinued Risk Control

Accounts are listed in a separate table in Appendix A.

We may not always make available Risk Control Accounts with Buffers or Boosts. However, if we offer

one or more Risk Control Accounts with Buffers, an option with a Buffer of -10% or more will be available.

If we offer one or more Risk Control Accounts with Boosts, an option with a Boost of 10% or more will be

available. To the extent we make available other Risk Control Accounts with Cap Rates, Participation

Rates, or Dual Step Rates, we will apply the following minimum guarantees:

• The Cap Rate for Risk Control Accounts with one-year Interest Terms will be at least 1%.

• The Cap Rate for Risk Control Accounts with six-year Interest Terms will be at least 10%.

• The Dual Step Rate for six-year Interest Terms will be at least 10%.

• For Contracts issued on or before May 1, 2026, the Participation Rate will be at least 100%.

• For Contracts issued after May 1, 2026, the Participation Rate will be at least 10%.

**Reallocating Your Contract Value**

Each Allocation Option is available on the Contract Issue Date and at the end of the Interest Term. For

example, an Interest Term of one year is available on the Contract Issue Date and every Contract

Anniversary thereafter; whereas an Interest Term of six years is available on the Contract Issue Date and

every sixth Contract Anniversary. This means that the six-year Interest Term will not be available for you

to allocate Contract Value to on every Contract Anniversary. If we add an Allocation Option, you will not be

able to allocate your Contract Value to the new Allocation Option until the start of the next available

Interest Term for that Allocation Option. Additionally, the six-year Interest Term is unavailable as a

reallocation option if the Income Payout Date is less than six years from the start of the Interest Term or if

the length of time until a termination date required by federal regulation is less than six years from the

start of the Interest Term. If you have allocated Contract Value to an Allocation Option that becomes

unavailable to you for reallocation, your Contract Value will be applied to a different Allocation Option at

the end of the Interest Term as described below.

At least two weeks before the end of an Interest Term, we will notify you of the available Allocation

Options to which you may transfer your maturing Contract Value. The Risk Control Accounts available to

you and their terms (such as the Interest Term, Index, and Crediting Strategies) may differ from what was

previously available. If we do not receive transfer instructions by Authorized Request at least one

Business Day prior to the end of the current Interest Term, we will apply the value of the maturing

Contract Value to a new Interest Term of the same Risk Control Account. If the same Risk Control Account

is not available, we will apply the value to the Fixed Account. Values applied to the Fixed Account may

earn a lower return than they would have earned in the discontinued Risk Control Account.

New transfer instructions by Authorized Request will supersede any prior transfer instructions for a given

Allocation Option. Except for Flex Transfers described below, transfers are not permitted during an

Interest Term. For example, you may not transfer values from the Fixed Account to any Risk Control

Account or transfer values among Risk Control Accounts during an Interest Term. Transactions that are

scheduled to occur on a day that the Index Value for a Risk Control Account is not available will be

processed at the end of the next Business Day at the closing Index Value for that day.

**Flex Transfers**

Prior to the end of the Interest Term, you may transfer some or all of the Risk Control Account Value from

any Risk Control Account to the Fixed Account. Flex Transfer instructions must be provided by Authorized

Request at least one Business Day prior to the end of the Risk Control Account's Interest Term. Requests

for Flex Transfers that are received at our Administrative Office in Good Order at least one Business Day

prior to the end of the Risk Control Account's Interest Term will be processed as of the end of that

Business Day. Requests received on the last Business Day of the Interest Term will be considered not in

Good Order and no transfers will be made pursuant to the request. Requests received at any other time

will be processed as of the end of the next Business Day.

The Risk Control Account Value will be calculated at the end of the Business Day the Flex Transfer

request is received in Good Order. This means you will not be able to determine your Risk Control

Account Value in advance of requesting the Flex Transfer, and the transferred value may be higher or

lower than it was at the time of your request. If your requested Flex Transfer is greater than the Risk

Control Account Value at the end of the Business Day the transfer request is received in Good Order, we

will transfer all remaining Risk Control Account Value, which will be less than the Flex Transfer you

requested.

The Flex Transfer is irrevocable once the transfer is requested, and the transferred amount will remain in

the Fixed Account until the next Contract Anniversary, when you can leave values in the Fixed Account or

transfer to any other available Risk Control Account.

The transferred amount will reduce the Crediting Base for the Risk Control Account on a proportional

basis by the ratio of the transfer to the Interim Value immediately prior to the withdrawal. Flex Transfers

are based on the Interim Value, not the performance of the Index over the Interest Term. The Interim

Value may reflect a negative return even when the Index increases, may reflect a positive return even if

the Index decreases, and may be lower than the amount that would have been available at the end of the

Interest Term. See "<u>[Contract Value - Interim Value](#ic3b18bfee4954043840b2dcc1ccd0861_82791)</u>." **If you make a Flex Transfer when the Interim**

**Value reflects a negative return, you may transfer at a loss, which means you essentially "lock in"**

**such loss; your Crediting Base will be reduced by more than the transferred amount, and that**

**reduction could be substantial.** Additionally, only the Crediting Base remaining in a Risk Control

Account after the Flex Transfer will be credited Index interest, positive or negative, at the end of the

Interest Term. The decision to make a Flex Transfer could therefore significantly negatively impact your

Risk Control Account Value, which impacts other Contract Values. It is possible that you would have

realized less of a loss or no loss if the Flex Transfer occurred later or if values remained until the end of

the Interest Term. You should fully understand the impact of the Flex Transfer and consult your financial

adviser prior to making a Flex Transfer. We will not provide you advice or notify you as to whether you

should or should not make a Flex Transfer or the optimal time for doing so. We are not responsible for

any losses related to your decision whether or not to make a Flex Transfer. **It is possible in extreme**

**circumstances to lose up to 100% of your principal and previously credited interest with respect**

**to a Risk Control Account if you make a Flex Transfer.**

We may change, discontinue, or establish restrictions on Flex Transfers, including limitations on the

number, frequency, or amount of Flex Transfers, at any time.

**FIXED ACCOUNT OPTION**

You may allocate all or a portion of your Purchase Payment and Contract Value to the Fixed Account.

Contract Value allocated to the Fixed Account becomes part of the Fixed Account Value. We credit

interest at the end of each Business Day to the Fixed Account based on a fixed annual interest rate.

**Fixed Interest Rate**

The initial Fixed Interest Rate is shown on your Contract Data Page. The Fixed Interest Rate will not

change for the duration of the 1-Year Interest Term. We may declare a new Fixed Interest Rate for

each subsequent 1-year Interest Term and will notify you of the new Fixed Interest Rate at least two

weeks before the end of the current Interest Term. The Fixed Interest Rate will never be less than

0.05%.

**Fixed Account Nonforfeiture Value**

Full surrenders from the Fixed Account are subject to a minimum nonforfeiture value. The Fixed Account

Nonforfeiture Value is calculated as of the date of full surrender, application of the entire Contract Value to

an Income Payout Option, or death of an Owner. If the current Fixed Account Value (calculated as set

forth under "<u>[Contract Value](#i88be85d061064e5e8bc8f6adf165b9b2_37)</u>"), less any applicable Market Value Adjustment or Surrender Charges, is less

than the minimum nonforfeiture value, your Fixed Account Value account will be set equal to the Fixed

Account Nonforfeiture Value.

The Fixed Account Nonforfeiture Value equals 87.5% x (A + B – C), where

• A = The portion of the Purchase Payment allocated to the Fixed Account.

• B = Any transfers to the Fixed Account.

• C = Any amounts withdrawn or transferred from the Fixed Account.

• A, B, and C are accumulated at the nonforfeiture rate for as long as such amounts were in the

Fixed Account.

The nonforfeiture rate will be calculated each calendar quarter (on each January 1, April 1, July 1, and

October 1) and determined on the Contract Issue Date and every sixth Contract Anniversary based on the

calendar quarter in which the Issue Date or Contract Anniversary falls. The nonforfeiture rate will apply for

six years and then will be recalculated for the next six-year period.

The nonforfeiture rate will never be less than the lesser of:

a)3%; or

b) The interest rate determined as follows:

1)The average of the three applicable monthly five-year Constant Maturity Treasury (CMT) rates

reported by the Federal Reserve rounded to the nearest 0.05%, as described below;

2)minus 1.25%; and

3)where the resulting interest rate is not less than the greater of the nonforfeiture rate required by

the National Association of Insurance Commissioners (NAIC) Standard Nonforfeiture Law for

Individual Deferred Annuities (currently, 0.15%), or the rate required by applicable law in the

state where the Contract is issued for delivery. See <u>[Appendix B](#i88be85d061064e5e8bc8f6adf165b9b2_70)</u> for state variations.

The three monthly five-year Constant Maturity Treasury rates used in the calculation above are as follows:

• The prior September, October, and November monthly five-year CMT rates will be used to determine

the first quarter interest rate that is effective each January 1;

• The prior December, January, and February monthly five-year CMT rates will be used to determine

the second quarter interest rate that is effective each April 1;

• The prior March, April, and May monthly five-year CMT rates will be used to determine the third

quarter interest rate that is effective each July 1; and

• The prior June, July, and August monthly five-year CMT rates will be used to determine the fourth

quarter interest rate that is effective each October 1.

**Although you may reallocate among Allocation Options with one-year Interest Terms at the end of**

**each Contract Year, withdrawals and surrenders from the Fixed Account at any time other than**

**on or within 30 days after each sixth Contract Anniversary may be subject to a Market Value**

**Adjustment, and withdrawals and surrenders during the first six Contract Years may be subject to**

**a Surrender Charge. Therefore, this Contract may not be appropriate for you if you plan to take**

**withdrawals or surrender your Contract before the expiration of each six-year term.**

**RISK CONTROL ACCOUNT OPTIONS**

You may allocate all or a portion of your Purchase Payment and Contract Value to the Risk Control

Accounts we make available. The portion of the Contract Value allocated to a Risk Control Account

becomes part of the Risk Control Account Value. Information about the features of each currently offered

Risk Control Account, including its name, a brief statement describing the assets that the Index seeks to

track, its crediting period, and its Crediting Strategy, are set forth in <u>[Appendix A](#i88be85d061064e5e8bc8f6adf165b9b2_61)</u>.

**Interest Term and Crediting Interest**

The portion of your Contract Value allocated to a Risk Control Account is credited with interest, if any, at

the end of each Interest Term based in part on the investment performance of an external Index over the

Interest Term, subject to the Crediting Strategy unique to each Risk Control Account. For each Risk

Control Account, the Index Return, which can be positive or negative, is calculated by comparing the

change in the Index from the first day of the Interest Term to the last day of the Interest Term. An Interest

Term can be one year or six years. For examples illustrating how we credit interest to the Risk Control

Accounts, see "<u>[Contract Value - Risk Control Account Value](#ic3b18bfee4954043840b2dcc1ccd0861_82749)</u>."

**It is possible that you will not earn any interest in a Risk Control Account or that we may credit**

**negative interest to a Risk Control Account.**

**You should understand the difference between the 6-year Interest Term and the 1-year Interest**

**Term. For the 6-year Interest Term, interest is not calculated or credited until the end of the**

**Interest Term; therefore, the Crediting Strategy factors (i.e., the Buffer, Boost, Cap Rate, Participation Rate, and Dual Step Rate) only apply at the end of the Interest Term and not annually.**

**The application of Interim Value Calculations on withdrawals and transfers from a Risk Control**

**Account before the end of the Interest Term could significantly reduce the values under the**

**Contract and the amount you receive from any payments. Only the Crediting Base remaining in a**

**Risk Control Account after the withdrawal or transfer will be credited interest, positive or negative, at the end of the Interest Term.**

**Although you may reallocate among Allocation Options at the end of each Interest Term, withdrawals and surrenders at any time other than on or within 30 days after each sixth**

**Contract Anniversary may be subject to a Market Value Adjustment, and withdrawals and**

**surrenders during the first six Contract Years may be subject to a Surrender Charge. Therefore, this Contract may not be appropriate for you if you plan to take withdrawals or surrender your**

**Contract before the expiration of each six-year term.**

**The Indices**

Each reference Index can go up or down based on the prices of the underlying securities that comprise

the Index. We currently offer three reference Indices. However, not all Indices may be available for each

Crediting Strategy or Interest Term. See <u>[Appendix A](#i88be85d061064e5e8bc8f6adf165b9b2_61)</u>.

The **S&P 500 Index**is a stock market index based on the market capitalizations of 500 leading

companies publicly traded in the U.S. stock market, as determined by Standard & Poor's.

The **Dimensional US Small Cap Value Systematic Index** is designed to capture the returns associated

with the US small cap value premium, the tendency for smaller company and value stocks to outperform

larger company and growth stocks over time. The Index includes stocks within the smallest 8% of the US

market down to $100 million in market capitalization with relative prices in the lowest 40% when ranked

by price to book. Within this universe, the index is designed to target higher-expected-return securities by

excluding stocks with lower profitability or high asset growth. The Index uses information in market prices

to systematically pursue higher expected returns in a broadly diversified manner.

The **Barclays Risk Balanced Index** allocates between equities and fixed income using the principles of

Modern Portfolio Theory using a 10% volatility (risk) target, which seeks to maximize the expected return

based on a given level of market risk. Equities consist of an equally weighed portfolio of 50 US stocks that

have shown low volatility during the past year. To ensure sector diversification, there can be no more than

10 securities per sector. Dividends are reinvested. For fixed income, the Index provides exposure to three

indices tracking the 2, 5, and 10-year US Treasury futures, equally weighted. The Index may allocate up

to 225% of total exposure to its components; when the portfolio exposure is greater than 100%, negative

performance of the portfolio will be magnified and the level of the Index may decrease significantly.

An investment in a Risk Control Account is not an investment in the Index or in any Index fund.

• Except for the Barclays Risk Balanced, each Index is a "price return index," which means the

performance of each Index does not include dividends paid on the securities comprising the

Index, and therefore, the performance of the Index does not reflect the full performance of those

underlying securities. This will reduce Index performance and will cause the Index to

underperform a direct investment in the underlying securities.

• The Barclays Risk Balanced Index reinvests dividends but deducts a fee of 0.5% for the equity

exposure, and 0.2% per year for the treasury exposure, and a cost equal to SOFR plus 0.1145%

for the equity component. Therefore, the aggregate fee will depend on the Index's relative

allocations to the equity and treasury components from time to time, which are determined by the

volatility control mechanism. These deductions will reduce Index performance, and the Index will

underperform similar portfolios from which these fees and costs are not deducted. SOFR refers to

the Secured Overnight Financing Rate, which was 4.49% as of December 31, 2024. The New

York Fed publishes the SOFR on its website each Business Day.

The Index Return is the percentage change in the Index from the beginning of the Interest Term to the

end of the Interest Term. Because interest is calculated on a single point in time, you may experience

negative or flat performance even though the Index experienced gains through some, or most, of the

Interest Term.

**Limits On Index Losses and Gains**

The Floors, Buffers, and Boosts are used in determining the level of protection provided by the Risk

Control Account. Each Risk Control Account has a Floor, Buffer, or Boost. Once elected, the Floor, Buffer,

and Boost may not be changed until the end of the Interest Term.

The Floor represents the maximum amount of negative interest that may be credited to the Risk Control

Account at the end of an Interest Term. If a Floor of 0% is elected, negative investment performance of

the applicable Index will not reduce your Risk Control Account Value. If any other Floor is chosen,

negative investment performance of the applicable Index will reduce your Risk Control Account Value by

up to the amount of the Floor you elected for any Interest Term. Negative investment performance will not

reduce your Risk Control Account Value by more than the Floor even if the Index performance for that

Interest Term is lower than the Floor. For example, if the Index performance is -15% and you elected a

Floor of -10%, the Company will credit -10% to the Risk Control Account Value. We offer eleven Floor

options for one-year Interest Terms which provide different levels of protection: 0%, -1%, -2%, -3%, -4%,

-5%, -6%, -7%, -8%, -9%, and -10%. If you allocate to a Risk Control Account with a Floor Crediting

Strategy, you must also specify your Floor by choosing one of the eleven available options. There is a risk

of loss of principal and previously credited interest of up to the Floor (a maximum loss of 10% with a Floor

of -10%) each Interest Term due to negative Index performance.

The Buffer represents the maximum amount of negative interest assumed by the Company, and any

additional negative interest will be credited to the Risk Control Account at the end of the Interest Term. For

example, if the -10% Buffer option is elected, negative investment performance of the applicable Index

will not reduce your Risk Control Account Value if the negative investment performance is between zero

and -10% for the Interest Term. If the investment performance is lower than -10% for the Interest Term,

your Risk Control Account Value will be reduced by the amount of negative investment performance in

excess of -10%. We currently offer Risk Control Accounts that have a -10% Buffer and a -20% Buffer.

There is a risk of loss of principal and previously credited interest of up to the amount of any negative

Index performance that exceeds the Buffer (a maximum loss of 90% with a Buffer of -10%, if the Index

declines by 100%) each Interest Term due to negative Index performance.

The Boost increases any negative Index performance by the amount of the Boost. If the Index Return is

zero or positive, the Boost is also the minimum Adjusted Index Return (subject to the Cap Rate). For

example, if you choose a 10% Boost and the Index Return is -5%, your Risk Control Account value will

increase by 5% (the -5% Index Return plus the 10% Boost). If you choose a 10% Boost and the Index

Return is -15%, your Risk Control Account Value will decrease by 5%, (the -15% Index Return plus the

10% Boost). If you choose a 10% Boost and the Index Return is 5%, your Risk Control Account Value will

increase by 10%, (the 10% Boost). We currently offer Risk Control Accounts with six-year Interest Terms

that have a 10% Boost and 20% Boost. There is a risk of loss of principal and previously credited interest

of up to the amount of any negative Index performance that exceeds the Boost (a maximum loss of 90%

with a 10% Boost, if the Index declines by 100%) each Interest Term due to negative Index performance.

Negative investment performance is limited by the Floor, Buffer, and Boost for a given Interest Term, but

you could lose more due to losses in subsequent Interest Terms. If you make withdrawals, make Flex

Transfers, or surrender your Contract, the Floor, Buffer, and Boost do not limit losses from the Surrender

Charge, Market Value Adjustment, Interim Value calculation, federal income taxes, additional taxes, or

proportionate calculations for withdrawals and Flex Transfers, which could significantly reduce the Death

Benefit and remaining Contract Values.

In deciding between the Floor, Buffer, and Boost options, you should consider the loss potential for each

account. The Floor provides the most protection from large losses. Although the Buffer and Boost provide

limited protection, there is potential to lose substantially more than the Floor if there are large market

losses. Generally, if you elect a Risk Control Account that has relatively more downside protection (for

example, a 0% Floor), you will have relatively less upside potential based on your Cap Rate, Participation

Rate, or Dual Step Rate. The additional gain potential should be weighed against the risk of loss.

Each Risk Control Account has either a Cap Rate and a Participation Rate or a Dual Step Rate. These

features limit the amount of positive interest credited to the Risk Control Account at the end of an Interest

Term. We set the Cap Rate, Participation Rate, and Dual Step Rate for each Risk Control Account at the

start of each Interest Term and guarantee them for the duration of the Interest Term.

The Cap Rate is the maximum amount of any positive Index interest that we will credit you at the end of

an Interest Term. Positive Index performance will increase your Risk Control Account Value by up to the

Cap Rate. For example, if the Index Return is 15% and the Cap Rate is 10%, the Company will credit

10%. Generally, the Cap Rate varies according to the level of risk you accept in choosing a Floor, Buffer,

or Boost. For example, the Cap Rate would be higher for the -10% Floor (allowing potentially greater

increases and decreases) and lower for the 0% Floor (limiting the amount of potential increases and

decreases). Similarly, the Cap Rate will also be higher for a -10% Buffer or 10% Boost than for a -20%

Buffer or 20% Boost. Generally, the Cap Rate will also be higher for a six-year Interest Term than a one-

year Interest Term. With the Cap Rate, you may receive only a portion of any positive Index performance.

The Dual Step Rate is the Adjusted Index Return that we will credit you when the Index Return is greater

than or equal to the applicable Buffer. In other words, if you choose a Buffer of -10%, the Dual Step Rate

will only apply if there is negative Index Return that is -10% or better, or a positive Index Return. We will

not credit you interest from positive Index performance that exceeds the Dual Step Rate. For example, if

the Buffer is -10% and the Index Return is -5% (which is greater than the Buffer), and the Dual Step Rate

is 50%, we would credit you with the Dual Step Rate of 50%. Similarly, if the Buffer is -10% and there is a

positive Index Return of 60%, and the Dual Step Rate is 50%, we would credit you with the Dual Step

Rate of 50%. However, if the Buffer is -10% and the Index Return is -15% (which is less than the Buffer),

the Dual Step Rate would not apply, and we would credit you with -5% (the -15% Index Return minus the

-5% Buffer). With the Dual Step Rate, you may receive only a portion of any positive Index performance. If

you allocate to a Risk Control Account with a Dual Step Rate, you should understand that a negative

Index Return after application of the Buffer may drastically change the amount credited to you. For

example, if the Buffer is -10%, the Dual Step Rate is 40%, and the Index Return is -10%, we would credit

you 40%. However, if the Index Return is -10.01%, we would credit you -0.01%. Daily changes in your

Risk Control Account Value may also be more significant than for other strategies due to the potential for

small negative market movements around the Buffer to have large impacts on the Interim Value,

especially near the end of the Interest Term.

The Participation Rate is the percentage of positive Index interest that we will credit you at the end of an

Interest Term. For Risk Control Accounts with a Buffer or Floor, the Participation Rate is applied to any

positive Index Return. For example, if the Index Return is 15% and the Participation Rate is 110%, we

would credit you 16.5% (110% of 15%). For Risk Control Accounts with a Boost, the Participation Rate is

applied to any Index Return that is greater than the Boost. For example, if the Boost is 10%, the Index

Return is 15%, and the Participation Rate is 110%, we would credit you 15.75% (the 10% Boost plus

110% of 5%, the Index Return that is greater than the Boost). With a Participation Rate that is less than

100%, you may receive only a portion of any positive Index performance.

The initial Cap Rate, Participation Rate, Dual Step Rate, and Fixed Interest Rate are available in advance

of the Contract Issue Date and will be provided by your financial professional or by calling the Company

at 1-800-798-5500. We will forward advance written notice to Owners of any change in the Cap Rate,

Participation Rate, and Dual Step Rate for the subsequent Interest Term at least two weeks before the

end of the current Interest Term. This notice will describe the Owner's right to transfer Contract Value

between available Allocation Options. The current Cap Rates, Participation Rates, and Dual Step Rates

being offered for new Interest Terms of the available Risk Control Accounts can be located at the following

publicly accessible website:https://www.trustage.com/zonechoice-advantage-annuity-rates. The rates

posted on that website address are incorporated by reference into this prospectus.

**Setting the Crediting Strategies**

We consider various factors in determining the Crediting Strategies and associated rates, including

investment returns, the costs of our risk management techniques, sales commissions, administrative

expenses, regulatory and tax requirements, general economic trends, and competitive factors. We

determine the rates for the Cap Rate, Dual Step Rate, Participation Rate, Floor, Buffer, and Boost at our

sole discretion.

**Risk Control Account Availability and Changes**

The Floor, Buffer, and Boost for a Risk Control Account will not change unless the Risk Control Account is

discontinued. We set the Cap Rate, Participation Rate, and Dual Step Rate for each Risk Control

Account, and the Fixed Interest Rate for the Fixed Account, at the start of each Interest Term and

guarantee them for the duration of the Interest Term. **During the life of your Contract, the Fixed**

**Account and a Risk Control Account with a 0% Floor, a minimum 1% Cap Rate, and a minimum**

**100% Participation Rate will always be available. Otherwise, we may add, change, or discontinue**

**Allocation Options and Indices from time to time. The remaining Allocation Options may have**

**terms that are unacceptable to you and may not provide any protection from Index losses, which**

**could result in the loss of the entire amount of your Contract Value.**

We may not always make available Risk Control Accounts with Buffers or Boosts. However, if we offer

one or more Risk Control Accounts with Buffers, an option with a Buffer of -10% or more will be available.

If we offer one or more Risk Control Accounts with Boosts, an option with a Boost of 10% or more will be

available. To the extent we make available other Risk Control Accounts with Cap Rates, Participation

Rates, or Dual Step Rates, we will apply the following minimum guarantees:

• The Cap Rate for Risk Control Accounts with one-year Interest Terms will be at least 1%.

• The Cap Rate for Risk Control Accounts with six-year Interest Terms will be at least 10%.

• The Dual Step Rate for six-year Interest Terms will be at least 10%.

• For Contracts issued on or before May 1, 2026, the Participation Rate will be at least 100%.

• For Contracts issued after May 1, 2026, the Participation Rate will be at least 10%.

We may offer additional Risk Control Accounts at our discretion, which includes offering additional or

different Indices, Crediting Strategies, or Interest Terms. If we add a Risk Control Account, you will not be

able to allocate your Contract Value to the new Risk Control Account until the start of the next available

Interest Term for that Risk Control Account.

We may also discontinue a Risk Control Account or Index at our discretion effective as of the end of an

Interest Term. In the case of certain Index changes, we may discontinue an Index and substitute a new

Index for a Risk Control Account before the end of an Interest Term. If an Index is discontinued and we do

not provide a substitute Index, a Risk Control Account may be discontinued before the end of an Interest

Term. Such a change will be subject to any required regulatory approval. Any change we make will be on

a non-discriminatory basis.

**We reserve the right to add or substitute any Index.** Generally, the Index associated with a given Risk

Control Account will remain unchanged for the duration of the Interest Term. However, if the publication of

an Index is discontinued or the calculation of that Index is materially changed, we may substitute a

suitable Index that will be used for the remainder of the Interest Term. Examples of such material changes

to the Index include, without limitation: a contractual dispute between us and the Index provider, changes

that make it impractical or too expensive to purchase derivatives to hedge the Index, or changes that

result in significantly different Index Values or performance. **The performance of the new Index may** 

**differ from the original Index, which may affect the interest credited to the Risk Control Account**

**and the interest you earn under the Contract.** However, a change in the Index will not change the Cap

Rate, Participation Rate, Dual Step Rate, Floor, Buffer, or Boost for your Contract at the time of the

change.

If we remove an Index, we will attempt to add a suitable alternative index that is substantially similar to the

Index being replaced on the same day that we remove the Index. To determine the Index Return, we will

add (1) the percentage change in the Index from the beginning of the Interest Term to the date on which

the Index became unavailable and (2) the percentage change for the substitute Index from the date of

substitution until the end of the Interest Term.

If we are unable to substitute a new Index at the same time an Index ceases to be available, there may be

a brief interval between the date on which we remove the Index and add a substitute Index. In this

situation, your Contract Value will continue to be allocated to the Risk Control Accounts. However, during

the interim period, your Contract Value (including any Interim Value) will be based on the percentage

change in the Index from the beginning of the Interest Term to the date on which the Index became

unavailable under the Contract, which means market changes during the delay will not be used to

determine your Risk Control Account Value.

In the unlikely event that an Index is discontinued, we do not provide a substitute Index, and the Risk

Control Account is discontinued during an Interest Term as a result, we will credit interest from the

beginning of the Interest Term until the date the Risk Control Account is discontinued using the

percentage change in the Index from the beginning of the Interest Term to the date on which the Index

became unavailable. The resulting Risk Control Account Value will be transferred to the Fixed Account for

the remainder of the Interest Term, where it will earn the Fixed Interest Rate starting on the date of

transfer until the next Contract Anniversary. The amount of interest you earn in the Fixed Account may be

less than the amount you would have earned in the Risk Control Account at the end of the Interest Term.

If there is a delay between the date we remove the Index and the date we transfer value to the Fixed

Account, your Risk Control Account Value prior to the transfer will be based on the value of the Index on

the date the Index ceased to be available, which means market changes during the delay will not be used

to calculate the Index Return.

Such a change will be subject to any required regulatory approval, such as any required approval of the

Index by the insurance department in your state.

We will notify you of a Risk Control Account or Index change and its effective date by sending you written

notice at your last known address.

**An Index or Risk Control Account change may negatively affect interest credited and your**

**resulting Contract Value, as well as how you want to allocate Contract Value between available**

**Allocation Options.**

**Index Annual Return Examples**

**The bar charts shown below provide the annual returns for each Index for the last 10 calendar**

**years (or for the life of the Index if less than 10 years), as well as the Index returns for each Index**

**after applying a hypothetical 5% Cap and hypothetical -10% Buffer. The charts illustrate the**

**variability of the returns from year to year and show how hypothetical limits on Index gains and**

**losses may affect these returns. Past performance is not necessarily an indication of future**

**performance.**

**The performance below is NOT the performance of any Risk Control Account. Your performance**

**under the Contract will differ, perhaps significantly. The performance below may reflect a different**

**return calculation, time period, and limit on Index gains and losses than the Risk Control**

**Accounts, and does not reflect Contract fees and charges, including surrender charges, Interim**

**Value calculation and the Market Value Adjustment, which reduce performance.**

***(Example tables to be updated by amendment)***

![spwithbuffera.jpg](spwithbuffera.jpg)

![barclayswithbuffera.jpg](barclayswithbuffera.jpg)

![dimensionalwithbuffera.jpg](dimensionalwithbuffera.jpg)

\* *Except for the Barclays Risk Balanced Index, each Index is a "price return" index, not a "total return" index, and therefore the*

*performance of the Index does not reflect dividends declared by any of the companies included in the Index, reducing the Index*

*return. As a result, the Index will underperform a direct investment in the securities composing the Index.*

*\*\* The Barclays Risk Balanced Index reinvests dividends but deducts certain fees. These deductions will reduce Index performance,*

*and the Index will underperform similar portfolios from which these fees and costs are not deducted.*

**CONTRACT VALUE**

On the Contract Issue Date, your Contract Value equals the Purchase Payment. After the Contract Issue

Date, during the Accumulation Period, your Contract Value is equal to the sum of the account value in all

Allocation Options, including the Fixed Account Value and the Risk Control Account Value(s). The

calculation of account value varies by Allocation Option as described below.

**Fixed Account Value**

The Fixed Account Value is equal to:

• The amount applied to the Fixed Account at the start of the current Interest Term; minus

• Any withdrawals (including any Surrender Charge and Market Value Adjustment); plus

• Any Flex Transfers; plus

• The daily credited interest.

The Interim Value does not apply to Contract Value in the Fixed Account.

**Risk Control Account Value**

Your Contract Value allocated to the Risk Control Accounts for any Valuation Period is equal to the sum of

your Risk Control Account Value in each Risk Control Account. The Risk Control Account Value varies

based on the Business Day it is calculated:

• On the first Business Day of an Interest Term: the Crediting Base.

• On the last Business Day of an Interest Term: the Crediting Base multiplied by the sum of one plus

the Adjusted Index Return.

• On every other Business Day: the Interim Value.

***Crediting Base***

The Crediting Base is equal to the amount allocated to a Risk Control Account at the start of the Interest

Term, reduced proportionally for any withdrawals during the Interest Term.

**For this purpose, "withdrawals" as used in this section include partial withdrawals, Flex Transfers, a full surrender, Death Benefit payments, or amounts withdrawn to be applied to an Income**

**Payout Option.**

A withdrawal will proportionally reduce the Crediting Base by the ratio of the withdrawal to the Risk

Control Account Value immediately prior to the withdrawal. Withdrawals include any applicable Surrender

Charge and Market Value Adjustment. A proportional reduction to the Crediting Base could be larger than

the amount of the withdrawal.

• If the Risk Control Account Value immediately prior to the withdrawal is greater than the Crediting

Base, the reduction to the Crediting Base will be less than the amount of the withdrawal.

• If the Risk Control Account Value immediately prior to the withdrawal is less than the Crediting

Base, the reduction to the Crediting Base will be greater than the amount of the withdrawal.

The following formulas are used for this calculation:

• Withdrawal as a percentage of Risk Control Account Value = withdrawal / (Risk Control Account

Value immediately prior to withdrawal), where "withdrawal" includes any applicable Surrender

Charge and Market Value Adjustment

• Reduction in Crediting Base = (Crediting Base before withdrawal) x (withdrawal as a percentage

of Risk Control Account Value)

• Crediting Base After Withdrawal = (Crediting Base before withdrawal) – (reduction in Crediting

Base)

The Crediting Base is not used for the Fixed Account.

***Examples of Crediting Base After a Withdrawal or Flex Transfer***

**Note, "withdrawal," as used in the examples below, includes partial withdrawals, Flex Transfers, a**

**full surrender, Death Benefit payments, or amounts withdrawn to be applied to an Income Payout**

**Option.** Withdrawals include any applicable Surrender Charge and Market Value Adjustment. The Interim

Value is reflected in the Risk Control Account Value.

Example 1. Risk Control Account Value immediately prior to the withdrawal is greater than the Crediting

Base.

Assume the following:

• Crediting Base before withdrawal = $100,000

• Withdrawal = $20,000

• Risk Control Account Value at time of withdrawal = $115,000

Step 1: Calculate the withdrawal as a percentage of Risk Control Account Value

• Withdrawal as a percentage of Risk Control Account Value = withdrawal / (Risk Control Account

Value immediately prior to withdrawal)

• Withdrawal as a percentage of Risk Control Account Value = $20,000 / $115,000 = 0.173913

Step 2: Calculate the reduction in the Crediting Base

• Reduction in Crediting Base = (Crediting Base before withdrawal) x (withdrawal as a percentage

of Risk Control Account Value)

• Reduction in Crediting Base = $100,000 x 0.173913 = $17,391.30

Step 3: Calculate the Crediting Base after withdrawal

• Crediting Base after withdrawal = (Crediting Base before withdrawal) – (reduction in Crediting

Base)

• Crediting Base after withdrawal = $100,000 - $17,391.30 = $82,608.70

In this example, because the Risk Control Account Value immediately prior to the withdrawal is greater

than the Crediting Base, the reduction to the Crediting Base ($17,391.30) is less than the amount of the

withdrawal ($20,000).

Example 2. Risk Control Account Value immediately prior to the withdrawal is less than the Crediting

Base.

Assume the following:

• Crediting Base before withdrawal = $100,000

• Withdrawal = $20,000

• Risk Control Account Value at time of withdrawal = $80,000

Step 1: Calculate the withdrawal as a percentage of Risk Control Account Value

• Withdrawal as a percentage of Risk Control Account Value = withdrawal / (Risk Control Account

Value immediately prior to withdrawal)

• Withdrawal as a percentage of Risk Control Account Value = $20,000 / $80,000 = 0.25

Step 2: Calculate the reduction in the Crediting Base

• Reduction in Crediting Base = (Crediting Base before withdrawal) x (withdrawal as a percentage

of Risk Control Account Value)

• Reduction in Crediting Base = $100,000 x 0.25 = $25,000

Step 3: Calculate the Crediting Base after withdrawal

• Crediting Base after withdrawal = (Crediting Base before withdrawal) – (reduction in Crediting

Base)

• Crediting Base after withdrawal = $100,000 - $25,000 = $75,000

In this example, because the Risk Control Account Value immediately prior to the withdrawal is less than

the Crediting Base, the reduction to the Crediting Base ($25,000) is greater than the amount of the

withdrawal ($20,000). This illustrates that the Crediting Base calculation may result in a reduction in the

Crediting Base that is significantly larger than the withdrawal amount.

***Index Return***

On the last Business Day of an Interest Term the Risk Control Account Value equals the Crediting Base

multiplied by the sum of one plus the Adjusted Index Return.The Index Return and Adjusted Index Return

are calculated to determine the interest credited to a Risk Control Account. The Index Return and

Adjusted Index Return are calculated separately for each Risk Control Account.

The Index Return is the percentage change in the Index from the beginning of the Interest Term to the

end of the Interest Term. The Index Return is calculated using the following formula:

Index Return = A / B – 1 where,

• A = Index Value on the last day of the Interest Term

• B = Index Value on the first day of the Interest Term

If the first or last day of the Interest Term does not fall on a Business Day, the closing Index Value for the

next Business Day will be used.

***Adjusted Index Return***

The Adjusted Index Return is the Index Return for the current Interest Term adjusted for the Crediting

Strategy. The calculation of the Adjusted Index Return varies based on the Crediting Strategy:

For the **Floor with Participation Rate and Cap Rate Crediting Strategy**, the Adjusted Index Return is

calculated as follows:

• If the Index Return is greater than or equal to zero: the lesser of the Cap Rate or the Index Return

multiplied by the Participation Rate.

• If the Index Return is less than zero: the greater of the Index Return or the Floor.

*Examples:* Assume the Floor is -10%, the Cap Rate is 10.00%, and the Participation Rate is 100%.

• If the Index Return is 6.00%, because the Index Return is greater than zero, the Adjusted

Index Return equals the lesser of the Index Return multiplied by the Participation Rate or the

Cap Rate:

oLesser of 6.00%\*100% or 10.00% = 6.00%.

• If the Index Return is 16.00%, because the Index Return is greater than zero, the Adjusted

Index Return equals the lesser of the Index Return multiplied by the Participation Rate or the

Cap Rate:

oLesser of 16.00%\*100% or 10.00% = 10.00%.

• If the Index Return is -6.00%, because the Index Return is less than zero, the Adjusted Index

Return is the greater of the Index Return or the Floor:

oGreater of -6.00% or -10.00% = -6.00%.

• If the Index Return is -16.00%, because the Index Return is less than zero, the Adjusted

Index Return is the greater of the Index Return or the Floor:

oGreater of -16.00% or -10.00% = -10.00%.

For the **Buffer with Participation Rate and Cap Rate Crediting Strategy,** the Adjusted Index Return is

calculated as follows:

• If the Index Return is greater than or equal to zero: the lesser of the Cap Rate or the Index

Return multiplied by the Participation Rate.

• If the Index Return is less than zero and greater than the Buffer: zero.

• If the Index Return is less than the Buffer: the Index Return minus the Buffer.

*Examples*: Assume the Buffer is -10.00%, the Participation Rate is 100%, and the Cap Rate is 10.00%.

• If the Index Return is 6.00%, because the Index Return is greater than zero, the Adjusted Index

Return equals the lesser of the Index Return or the Cap Rate:

◦ Lesser of 6.00%\*100.0% or 10.00% = 6.00%.

• If the Index Return is 16.00%, because the Index Return is positive, the Adjusted Index Return

equals the lesser of the Index Return multiplied by the Participation Rate or the Cap Rate:

◦ Lesser of 16.00%\*100.0% or 10.00% = 10.00%.

• If the Index Return is -6.00%, because the Index Return is less than zero and greater than the

-10% Buffer, the Adjusted Index Return is zero:

◦ 0.00%.

• If the Index Return is -16.00%, because the Index Return is less than zero and greater than the

-10% Buffer, the Adjusted Index Return equals the Index Return minus the Buffer:

◦ -16.00% - (-10%) = -6.00%.

For the **Boost with Participation Rate and Cap Rate Crediting Strategy**, the Adjusted Index Return is

calculated as follows:

• If the Index Return is greater than or equal to zero: the lesser of the Cap Rate or the Boost plus

the Participation Rate multiplied by any Index Return in excess of the Boost.

• If the Index Return is less than zero: the Index Return plus the Boost.

Examples: Assume the Boost is 10%, the Participation Rate is 100%, and the Cap Rate is 90.00%.

• If the Index Return is 6.00%, because the Index Return is greater than zero, the Adjusted Index

Return equals the lesser of the Cap Rate or the Boost plus the Participation Rate multiplied by

any Index Return in excess of the Boost:

◦ Lesser of 10% + 100\*0% or 90.00% = 10.00%.

• If the Index Return is 16.00%, because the Index Return is greater than zero, the Adjusted Index

Return equals the lesser of the Cap Rate or the Boost plus the Participation Rate multiplied by

any Index Return in excess of the Boost:

◦ Lesser of 10% + 100%\*6% or 90.00% = 16.00%.

• If the Index Return is -6.00%, because the Index Return is less than zero, the Adjusted Index

Return is equal to the Index Return plus the Boost:

◦ -6.00% + 10% = 4.00%

• If the Index Return is -16.00%, because the Index Return is less than zero, the Adjusted Index

Return is equal to the Index Return plus the Boost:

◦ -16.00% + 10% = -6.00%.

The Adjusted Index Return for the **Buffer with Dual Step Rate Crediting Strategy** is calculated as

follows:

• If the Index Return is greater than or equal to the Buffer: the Dual Step Rate.

• If the Index Return is less than the Buffer: the Index Return minus the Buffer.

Examples: Assume the Buffer is -10.00% and the Dual Step Rate is 50.00%.

• If the Index Return is 6.00%, because the Index Return is greater than the Buffer, the Adjusted

Index Return equals the Dual Step Rate:

◦ 50.00%.

• If the Index Return is 16.00%, because the Index Return is greater than the Buffer, the Adjusted

Index Return equals the Dual Step Rate:

◦ 50.00%.

• If the Index Return is -6.00%, because the Index Return is greater than the Buffer, the Adjusted

Index Return equals the Dual Step Rate:

◦ 50.00%.

• If the Index Return is -16.00%, because the Index Return is less than the Buffer, the Adjusted

Index Return equals the Index Return minus the Buffer:

◦ -16.00% - (-10%) = -6.00%.

***Risk Control Account Value Calculation on the Last Business Day of an Interest Term***

The following examples illustrate how investment performance of the reference Index is applied in

crediting interest to the Risk Control Accounts. In each case, the following steps are used. Additional

details and examples for each step in these calculations are provided above.

• Step 1 - Calculate the Index Return, which equals the Index Value on the last day of the Interest

Term divided by the Index Value on the first day of the Interest Term minus one.

• Step 2 - Calculate the Adjusted Index Return using the Index Return from Step 1 and the

applicable Crediting Strategy. See above for additional examples of these calculations.

• Step 3 - Calculate the Risk Control Account Value, which equals the Crediting Base multiplied by

the sum of one plus the Adjusted Index Return from Step 2.

No withdrawals or Flex Transfers are assumed to occur under these examples and all values are

determined on the last Business Day of an Interest Term.The examples illustrate hypothetical

circumstances solely for the purpose of demonstrating Risk Control Account calculations and are not

intended as estimates of future performance of the Index.

*Example 1*: Floor with Cap Rate and Participation Rate Crediting Strategy with a positive Index Return

greater than the Cap Rate.

Assumptions:

• Crediting Base: $100,000

• Floor: -10.00%

• Cap Rate: 15.00%

• Participation Rate: 100%

• Index Value as of the first day of the Interest Term: 1000

• Index Value as of the last day of the Interest Term: 1300

Step 1: Calculate the Index Return: 30.00%

Step 2: Calculate the Adjusted Index Return: 15.00%

Step 3: Calculate the Risk Control Account Value: $115,000

*Example 2*: Floor with Cap Rate and Participation Rate Crediting Strategy with a negative Index Return.

Assumptions:

• Crediting Base: $100,000

• Floor: -10.00%

• Cap Rate: Uncapped

• Participation Rate: 100%

• Index Value as of the first day of the Interest Term: 1000

• Index Value as of the last day of the Interest Term: 700

Step 1: Calculate the Index Return: -30.00%

Step 2: Calculate the Adjusted Index Return: -10.00%

Step 3: Calculate the Risk Control Account Value: $90,000

*Example 3*: Buffer with Cap Rate and Participation Rate Crediting Strategy with a positive Index Return.

Assumptions:

• Crediting Base: $100,000

• Buffer: -10.00%

• Cap Rate: 10.00%

• Participation Rate: 115%

• Index Value as of the first day of the Interest Term: 1000

• Index Value as of the last day of the Interest Term: 1300

Step 1: Calculate the Index Return: 30.00%

Step 2: Calculate the Adjusted Index Return: 34.50%

Step 3: Calculate the Risk Control Account Value: $134,500

*Example 4*: Buffer with Cap Rate and Participation Rate Crediting Strategy with an Index Return less than

zero and greater than the Buffer.

Assumptions:

• Crediting Base: $100,000

• Buffer: -10.00%

• Cap Rate: Uncapped

• Participation Rate: 115%

• Index Value as of the first day of the Interest Term: 1000

• Index Value as of the last day of the Interest Term: 950

Step 1: Calculate the Index Return: -5.00%

Step 2: Calculate the Adjusted Index Return: 0.00%

Step 3: Calculate the Risk Control Account Value: $100,000

*Example 5:* Buffer with Cap Rate and Participation Rate Crediting Strategy with an Index Return less than

the Buffer.

Assumptions:

• Crediting Base: $100,000

• Buffer: -10.00%

• Cap Rate: Uncapped

• Participation Rate: 115%

• Index Value as of the first day of the Interest Term: 1000

• Index Value as of the last day of the Interest Term: 700

Step 1: Calculate the Index Return: -30.00%

Step 2: Calculate the Adjusted Index Return: -20.00%

Step 3: Calculate the Risk Control Account Value: $80,000

*Example 6*: Boost with Cap Rate and Participation Rate Crediting Strategy with a positive Index Return

Assumptions:

• Crediting Base: $100,000

• Boost: 10.00%

• Cap Rate: 200.00%

• Participation Rate: 110%

• Index Value as of the first day of the Interest Term: 1000

• Index Value as of the last day of the Interest Term: 1300

Step 1: Calculate the Index Return: 30.00%

Step 2: Calculate the Adjusted Index Return: 32.00%

Step 3: Calculate the Risk Control Account Value: $132,000

*Example 7*: Boost with Cap Rate and Participation Rate Crediting Strategy with a negative Index Return.

Assumptions:

• Crediting Base: $100,000

• Boost: 10.00%

• Cap Rate: Uncapped

• Participation Rate: 110%

• Index Value as of the first day of the Interest Term: 1000

• Index Value as of the last day of the Interest Term: 700

Step 1: Calculate the Index Return: -30.00%

Step 2: Calculate the Adjusted Index Return: -20.00%

Step 3: Calculate the Risk Control Account Value: $80,000

*Example 8*: Buffer with Dual Step Rate and a positive Index Return

Assumptions:

• Crediting Base: $100,000

• Buffer: -10.00%

• Dual Step Rate: 60.00%

• Index Value as of the first day of the Interest Term: 1000

• Index Value as of the last day of the Interest Term: 1300

Step 1: Calculate the Index Return: 30.00%

Step 2: Calculate the Adjusted Index Return: 60.00%

Step 3: Calculate the Risk Control Account Value: $160,000

*Example 9*: Buffer with Dual Step Rate and a negative Index Return

Assumptions:

• Crediting Base: $100,000

• Buffer: -10.00%

• Dual Step Rate: 60.00%

• Index Value as of the first day of the Interest Term: 1000

• Index Value as of the last day of the Interest Term: 700

Step 1: Calculate the Index Return: -30.00%

Step 2: Calculate the Adjusted Index Return: -20.00%

Step 3: Calculate the Risk Control Account Value: $80,000

**Interim Value**

The Interim Value is the value for a Risk Control Account on any day other than the first and last Business

Day of an Interest Term. The Interim Value may change each Business Day, and the change may be

positive or negative. The Interim Value may reflect a negative return even when the Index increases, may

reflect a positive return even if the Index decreases, and may be lower than the amount that would have

been available at the end of the Interest Term.See "<u>[Charges and Adjustments - Interim Value](#i1fb7707c06e94c4fb231f047b00966e0_99119)</u>."

The Interim Value reflects the change in value of derivative instruments that hedge market risks

associated with the Risk Control Accounts. Using the Interim Value protects the Company from market

losses relating to changes in the value of the investments that support the Risk Control Accounts when

withdrawals or Flex Transfers are made during the Interest Term. The Interim Value is determined using

an option pricing formula, is calculated separately for each Risk Control Account, and varies based on the

Crediting Strategy.

The Interim Value for a Risk Control Account is calculated using the following formula:

• Crediting Base x [1 + (Hypothetical Option Value – Amortized Option Cost – Trading Costs)]

Hypothetical option value is the hypothetical option value as of the current Business Day, expressed as a

percentage of the Crediting Base. The hypothetical derivatives include calls and puts. The current value of

the hypothetical call options reflects the potential for increases in the reference Index during the Interest

Term. The current value of the hypothetical put options reflects the potential for decreases in the

reference Index during the Interest Term.

Amortized option cost is the hypothetical option value as of the start of the Interest Term, adjusted for the

time elapsed in the Interest Term. To adjust for the time elapsed in the Interest Term, the hypothetical

option value as of the start of the Interest Term is multiplied by the number of days remaining in the

Interest Term divided by the total number of days in the Interest Term. Amortized option cost is expressed

as a percentage of the Crediting Base.

Trading costs represent the reasonably expected additional cost of selling the hypothetical options. The

trading cost may vary by Risk Control Account and time remaining and is expressed as a percentage of

the Crediting Base.

The hypothetical option value used in determining the Interim Value is calculated as follows:

• For the Floor with Participation Rate and Cap Rate Crediting Strategy: Participation Rate x (long

call - short call) - short put + long put.

• For the Buffer with Participation Rate and Cap Rate Crediting Strategy: Participation Rate x (long

call - short call) - short put.

• For the Boost with Participation Rate and Cap Rate Crediting Strategy: Participation Rate x (long

call - short call) - short put + Boost discounted at the risk-free rate.

• For the Buffer with Dual Step Rate Crediting Strategy: Dual Step Rate x long digital call - short

put.

The following inputs are used to calculate the hypothetical call and put option values under a Black-

Scholes pricing model. The implied volatility, divided rate, and risk-free rate are obtained from

independent third parties.

*Strike Price of the Option.* The strike price varies for each derivative instrument. The strike price for each

derivative instrument is described below.

• Long call:

◦ Floor and Buffer Crediting Strategies: Index Value as of the start of the Interest Term

◦ Boost Crediting Strategies: Index Value x (1 + Boost)

• Short put:

◦ Floor and Boost Crediting Strategies: Index Value as of the start of the Interest Term

◦ Buffer Crediting Strategies: (Index Value at start of the Interest Term) x (1 + Buffer)

• Long put (Floor Crediting Strategies only):

◦ (Index Value at start of the Interest Term) x (1 + Floor)

• Short call:

◦ Floor and Buffer Crediting Strategies: (Index Value as of the start of the Interest Term) x

(1 + Cap Rate/Participation Rate)

◦ Boost Crediting Strategies: (Index Value as of the start of the Interest Term) x (1 + (Cap

Rate – Boost)/Participation Rate + Boost)

• Long digital call (Buffer with Dual Step Rate Crediting Strategies only)

◦ (Index Value at start of the Interest Term) x (1 + Buffer)

The value of the call or put option is measured as a percentage of the Crediting Base.

*Time Remaining.* Represents the portion of the Interest Term remaining. It is measured as the number of

whole and partial years remaining in the Interest Term.

*Strike Ratio.*The strike price of the option divided by the closing value for the reference Index as of the

current Business Day.

*Implied Volatility.*The implied volatility is approximated using observed option prices. Linear interpolation

is used between implied volatilities for similar options with the closest available time remaining and strike

ratio.

*Dividend Rate of the Index for the Remaining Term of the Option.*The dividend rate for the time

remaining using linearly interpolated rates or implied from market data.

*Risk-Free Interest Rate for the Remaining Term of the Option.*The risk-free rate is a benchmark rate

used for the U.S. financial services industry in valuing financial instruments, with a maturity equal to the

time remaining in the Interest Term. If there is no corresponding length, linear interpolation is used using

rates with the closest remaining term.

For examples of how we calculate the Interim Value, please refer to the Statement of Additional

Information.

**CHARGES AND ADJUSTMENTS**

**Surrender Charge**

During the first six Contract Years, we deduct a Surrender Charge from each withdrawal or surrender that

exceeds the Annual Free Withdrawal Amount. The Surrender Charge schedule is expressed as a

percentage of the Contract Value withdrawn or surrendered as shown below.

---

| | |
|:---|:---|
| **Contract** <br>**Year**<br>| **Surrender Charge** <br>**Percentage**<br>|
| 1 | 8% |
| 2 | 8% |
| 3 | 8% |
| 4 | 7% |
| 5 | 6% |
| 6 | 5% |
| 7+ | 0% |

---

The Surrender Charge is assessed before application of the Market Value Adjustment. For examples of

how we calculate the Surrender Charge, please refer to the Statement of Additional Information.

We will not assess the Surrender Charge on:

• Withdrawals under the Nursing Home or Hospital waiver or Terminal Illness waiver;

• Refunds under the Right to Examine;

• Required Minimum Distributions that are withdrawn under the automatic withdrawal program

provided by the Company;

• The Annual Free Withdrawal Amount;

• Death Benefit proceeds;

• Amounts withdrawn after the first six Contract Years;

• Contract Value applied to an Income Payout Option using the income option tables shown on the

Data Page; and

• Transfers (including Flex Transfers).

We will waive the Surrender Charge and Market Value Adjustment in the case of a partial withdrawal or

surrender where the Owner or Annuitant qualifies for the Nursing Home or Hospital or Terminal Illness

waiver. Before granting the waiver, we may request a second opinion or examination of the Owner or

Annuitant by one of our examiners. We will bear the cost of such second opinion or examination. If there

is a conflicting opinion between physicians, the Company's physician will rule. Each waiver may be

exercised only one time.

• *Nursing Home or Hospital Waiver*. We will not deduct a Surrender Charge in the case of a partial

withdrawal or surrender where any Owner or Annuitant is confined to a licensed nursing home or

hospital and has been confined to such nursing home or hospital for at least 90 consecutive days

after the latter of the Contract Issue Date or the date of change of the Owner or Annuitant. A

hospital refers to a facility that is licensed and operated as a hospital according to the law of the

jurisdiction in which it is located. A nursing home refers to a facility that is licensed and operates

as a nursing facility according to the law of the jurisdiction in which it is located. We require

verification of confinement to the nursing home or hospital, and such verification must be signed

by the administrator of the facility.

• *Terminal Illness Waiver*. We will not deduct a Surrender Charge in the case of a partial withdrawal

or surrender where any Owner or Annuitant has a life expectancy of 12 months or less due to

illness or accident. As proof, we require a determination of the Terminal Illness. Such

determination must be signed by the licensed physician making the determination after the latter

of Contract Issue Date or the date of change of the Owner or Annuitant. The physician may not be

a member of your or the Annuitant's immediate family.

Any state variations with respect to the availability, terms, and/or benefits of the Surrender Charge

waivers are provided in [Appendix](#i88be85d061064e5e8bc8f6adf165b9b2_70)<u>[B](#i88be85d061064e5e8bc8f6adf165b9b2_70)</u>.

Even if you do not pay a Surrender Charge because of the waivers, you still may be required to pay

taxes, and additional taxes on the amount withdrawn. You should consult a tax adviser to determine the

effect of a partial withdrawal on your taxes. Additionally, any applicable Interim Value will apply to amounts

withdrawn under this Waiver and there may be a proportionate reduction in the Crediting Base and Death

Benefit.

Surrender Charges offset promotion, distribution expenses, and investment risks born by the Company.

To the extent Surrender Charges are insufficient to cover these risks and expenses, the Company will pay

for the costs that it incurs from its General Account.

**Interim Value**

The Interim Value is the value for a Risk Control Account on any day other than the first and last Business

Day of an Interest Term. See "<u>[Contract Value - Interim Value](#ic3b18bfee4954043840b2dcc1ccd0861_82791)</u>." The Interim Value may change each

Business Day, and the change may be positive or negative. For Contract Value allocated to a Risk Control

Account, if you take a withdrawal, make a Flex Transfer, surrender your Contract, die, or begin Income

Payout Options, the amount withdrawn or transferred before the expiration of an Interest Term is based

on the Interim Value and will reduce the Crediting Base proportionally. You bear the risk that the Interim

Value may decrease your Risk Control Account Value (and consequently, other values under the

Contract) if you withdraw or transfer amounts from a Risk Control Account during the Interest Term. The

Interim Value is not applied to Contract Value in the Fixed Account.

The Interim Value may reflect a negative return even when the Index increases, may reflect a positive

return even if the Index decreases, and may be lower than the amount that would have been available at

the end of the Interest Term. You may have an Interim Value that reflects a negative return regardless of

the Crediting Strategy selected; for example, the Interim Value could reflect negative returns that exceed

the applicable Floor, that apply even if Index losses were within the applicable Buffer, or that are not offset

by the applicable Boost.

**An Interim Value that reflects a negative return will reduce the values under the Contract, and it is**

**possible in extreme circumstances to lose up to 100% of your principal and previously credited**

**interest allocated to a Risk Control Account due to the Interim Value calculation if you take a**

**withdrawal, make a Flex Transfer, surrender your Contract, die, or begin Income Payout Options**

**before the expiration of an Interest Term. Additionally, only the Crediting Base remaining in the**

**Risk Control Account after the withdrawal or Flex Transfer will be credited interest, positive or**

**negative, at the end of the Interest Term.**

**Market Value Adjustment**

A partial withdrawal or full surrender of the Contract may be adjusted (increased or decreased) for the

Market Value Adjustment. The Market Value Adjustment applies to every Allocation Option, including the

Fixed Account, and will always apply for the six-year rolling period beginning on the Contract Issue Date

even if the Allocation Options elected have an Interest Term of less than six years. The Market Value

Adjustment does not apply to transfers (including Flex Transfers), to amounts withdrawn on or within 30

days after each sixth Contract Anniversary, or to the Annual Free Withdrawal Amount.

The Market Value Adjustment reflects the change in value of the investments that support the guarantees

under this Contract upon withdrawal during the six-year rolling period beginning on the Contract Issue

Date. Rates used in determining the Market Value Adjustment are reset every sixth Contract Anniversary.

You may obtain information about the Market Value Adjustment by calling us.

**A negative Market Value Adjustment could significantly decrease the amount you receive from a**

**withdrawal or surrender. In extreme circumstances, losses from the Market Value Adjustment**

**could be as high as 90% of your Contract Value. You directly bear the investment risk associated**

**with a Market Value Adjustment. You should carefully consider your income needs before**

**purchasing the Contract.**

***Purpose of the Market Value Adjustment.*** The Market Value Adjustment helps protect us from market

losses relating to changes in the value of the investments that support the guarantees under the Contract

when amounts are withdrawn from an Allocation Option before the end of each six-year period. You bear

the risk that the Market Value Adjustment may decrease the amount of a withdrawal made during the six-

year period.

***Application.*** If the combination of the Constant Maturity Treasury rate and ICE BofA Index has increased

at the time of withdrawal over their levels at the start of the six-year period, the Market Value Adjustment

will be negative and will decrease the Surrender Value or amount you receive from a partial withdrawal by

the amount of the Market Value Adjustment. Similarly, if the combination of the Constant Maturity Treasury

rate and ICE BofA Index has decreased at the time of surrender or partial withdrawal over their levels at

the start of the six-year period, the Market Value Adjustment will be positive and will increase the

Surrender Value or amount you receive from a partial withdrawal by the amount of the Market Value

Adjustment.

We will not assess the Market Value Adjustment on:

• Withdrawals under the Nursing Home or Hospital Waiver or Terminal illness waiver;

• Refunds under the Right to Examine;

• Required Minimum Distributions that are withdrawn under an automatic withdrawal program

provided by us;

• The Annual Free Withdrawal Amount;

• Death Benefit proceeds;

• Withdrawals on or within 30 days after the end of every six-year rolling period; and

• Contract Value applied to an Income Payout Option using the income option tables shown on the

Data Page; and

• Transfers (including Flex Transfers).

For more information about the Market Value Adjustment and examples of how we calculate Market Value

Adjustments, please refer to the Statement of Additional Information.

**IMPORTANT: You directly bear the investment risk associated with the Interim Value calculation**

**and the Market Value Adjustment. You should carefully consider your income needs before**

**purchasing the Contract.**

**Premium Taxes**

Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in

your state, may also apply. However, premium taxes are not currently charged to Contract holders. State

premium taxes currently range from 0% to 3.5%.

**Other Information**

We assume investment risks and costs in providing the guarantees under the Contract. These investment

risks include the risks we assume in providing the Floors, Buffers, and Boosts for the Risk Control

Accounts, the Fixed Interest Rate for the Fixed Account, the surrender rights available under the Contract,

the Death Benefit, and the income payments. We must provide the rates and benefits set forth in your

Contract regardless of how our General Account investments that support the guarantees we provide

perform. To help manage our investment risks, we engage in certain risk management techniques. There

are costs associated with those risk management techniques. You do not directly pay the costs

associated with our risk management techniques. However, we take those costs into account when we

set rates and guarantees under your Contract.

**ACCESS TO YOUR MONEY**

**Partial Withdrawals**

At any time during the Accumulation Period you may make partial withdrawals by Authorized Request in

Good Order. The minimum partial withdrawal amount is $100. Unless you instruct us otherwise,

withdrawals will be processed proportionally from the Contract Value in all Allocation Options. Any

applicable Surrender Charge, Market Value Adjustment, and Interim Value calculation will affect the

amount available for a partial withdrawal. We will pay you the amount you request in connection with a

partial withdrawal by reducing Contract Value in the Fixed Account or the appropriate Risk Control

Accounts.

Partial withdrawals for less than $25,000 are permitted by telephone and in writing. The written consent of

all Owners must be obtained before we will process the partial withdrawal. If an Authorized Request in

Good Order is received by 4:00 P.M. Eastern Time, it will be processed that day. If an Authorized Request

in Good Order is received after 4:00 P.M. Eastern Time, it will be processed on the next Business Day.

If a partial withdrawal would cause your Surrender Value to be less than $2,000, we will treat your request

for partial withdrawal as a request for full surrender of your Contract. Before processing the full surrender,

we will attempt to contact you or your financial professional to provide the opportunity for you to take a

lower amount to maintain a Surrender Value of at least $2,000. If we are unable to contact you within one

Business Day after receiving your request, we will process the full surrender.

**The Contract may not be appropriate for investors who plan to take withdrawals (including**

**systematic withdrawals and Required Minimum Distributions) or surrender the Contract.** 

**Withdrawals may be subject to a Market Value Adjustment and Surrender Charge. All withdrawals**

**and transfers from a Risk Control Account prior to the end of an Interest Term are subject to the**

**Interim Value calculation and proportional reduction of the Crediting Base. Withdrawals reduce** 

**the Purchase Payment, which is used to determine the Death Benefit, by the ratio of the** 

**withdrawal (including any Surrender Charge and Market Value Adjustment) to the Contract Value** 

**immediately prior to the withdrawal. As a result, reductions due to withdrawals may be** 

**substantially more than the amount withdrawn, could significantly decrease your Death Benefit** 

**and remaining Contract Values, and could terminate the Contract.**

**Systematic Withdrawals**

Our systematic withdrawal program is an administrative program designed for you to take recurring

automatic withdrawals at the frequency you select. You can receive payments, monthly, quarterly, semi-

annually, or annually, subject to the $100 minimum partial withdrawal amount and minimum Surrender

Value described in this section. Although the Contract permits systematic withdrawals (including for

Required Minimum Distributions under the Internal Revenue Code) from the Risk Control Accounts, these

withdrawals may have an adverse effect on your values under the Contract. If you intend to make ongoing

withdrawals, you should consult a financial professional to determine whether the Contract is appropriate

for you. See "<u>[Benefits Available Under the Contract - Systematic Withdrawals](#i23e6f587141a4b38801522f2e22abf0d_25899)</u>."

**Surrenders**

You may surrender your Contract for the Surrender Value at any time during the Accumulation Period by

Authorized Request. The consent of all Owners must be obtained before the Contract is surrendered. If

an Authorized Request in Good Order is received before 4:00 P.M. Eastern Time on a Business Day, it will

be processed that day. If an Authorized Request in Good Order is received at or after 4:00 P.M. Eastern

Time on a Business Day or on a non-Business Day, it will be processed on the next Business Day.

If you surrender the Contract, you will be paid the Surrender Value, as of the Business Day we received

your Authorized Request in Good Order.

The Surrender Value is calculated separately for the Fixed Account and Risk Control Accounts.

The Surrender Value for the Fixed Account is equal to:

a) Your Fixed Account Value at the end of the Valuation Period in which we receive your Authorized

Request; minus

b) Any applicable Surrender Charge; adjusted for

c) Any applicable Market Value Adjustment; and

d) Where the resulting value is not less than the Fixed Account Nonforfeiture Value.

The Surrender Value for the Risk Control Accounts is equal to:

a) Your Risk Control Account Value at the end of the Valuation Period in which we receive your

Authorized Request; minus

b) Any applicable Surrender Charge; and adjusted for

c) Any applicable Market Value Adjustment.

**Instead of crediting interest to amounts that are surrendered prior to the end of the Interest Term, the amount surrendered is based on the Interim Value (which may reflect a positive or negative**

**return) and will reduce the Crediting Base proportionally. The Surrender Value could be**

**significantly lower than your Contract Value due to the Interim Value calculation, Market Value**

**Adjustment, and Surrender Charge. A surrender is subject to income tax and, if taken before age**

**59½, a 10% additional tax may apply. You should consult a tax adviser before requesting a**

**surrender.**

Upon payment of the Surrender Value, this contract is terminated, and we have no further obligation

under the Contract. We may require that the Contract be returned to our Administrative Office prior to

making payment of the Surrender Value. The Surrender Value will not be less than the amount required

by state law or the Interstate Insurance Product Regulation Commission, depending on the state in which

the contract was delivered for sale. We will pay you the amount you request in connection with a full

surrender by withdrawing Contract Value in the Fixed Account and the Risk Control Accounts.

**Annual Free Withdrawal Amount**

Your Annual Free Withdrawal Amount is the amount that can be withdrawn each Contract Year without

incurring a Surrender Charge or Market Value Adjustment. For the first six Contract Years the Annual Free

Withdrawal Amount is equal to 10% of the Contract Value determined at the beginning of each Contract

Year. Beginning on the sixth Contract Anniversary, it is equal to 20% of the Contract Value determined at

the beginning of each Contract Year. Any unused Annual Free Withdrawal Amount will not carry over to

any subsequent Contract Year. The Annual Free Withdrawal Amount is still subject to Interim Value

calculations and proportionate adjustments. Partial annuitization will count toward the Annual Free

Withdrawal Amount.

The Annual Free Withdrawal Amount is subtracted from surrenders for purposes of calculating the

Surrender Charge and Market Value Adjustment.

**Partial Withdrawal and Surrender Restrictions**

Your right to make partial withdrawals and surrender the Contract is subject to any restrictions imposed by

any applicable law or employee benefit plan.

**Right to Defer Payments**

We reserve the right to postpone payment for up to six months after we receive your Authorized Request

in Good Order, subject to obtaining prior written approval by the state insurance commissioner if required

by the law of the state in which we issued the Contract. In the event we postpone payment, we will pay

interest on the proceeds if required by state law, calculated at the effective annual rate and for the time

period required under state law.

**BENEFITS AVAILABLE UNDER THE CONTRACT**

**The following table summarizes information about the benefits available under the Contract.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Benefit** | **Purpose** | **Standard or** <br>**Optional**<br>| **Maximum** <br>**Fee**<br>| **Brief Description** <br>**of Restrictions** <br>**and Limitations**<br>|
| Death Benefit | Provides a Death Benefit if the <br>Owner dies during the <br>Accumulation Period<br>| Standard | No Charge | Withdrawals may <br>reduce the Death <br>Benefit by more <br>than the amount of <br>the withdrawal.<br>|
| Systematic<br>Withdrawals<br>| Provide payments on a <br>schedule as set up by you.<br>| Optional | No Charge | Withdrawals may <br>be subject to a <br>Market Value <br>Adjustment or <br>Surrender Charge.<br>|

---

**Death Benefit**

***Death of the Owner during the Accumulation Period*.** If the Owner dies during the Accumulation

Period (if there are Joint Owners, after the first Joint Owner dies), a Death Benefit will become payable to

the Beneficiary. We will pay the Death Benefit after we receive the following at our Administrative Office in

a form and manner satisfactory to us:

• Proof of death of the Owner while the Contract is in force (proof of death may consist of a certified

copy of the death record, a certified copy of a court decree reciting a finding of death or other

similar proof);

• Our claim form from each Beneficiary, properly completed; and

• Any other documents we require.

If there is a surviving Joint Owner the surviving Joint Owner will be treated as the sole primary

Beneficiary, and any other designated Beneficiary will be treated as a contingent Beneficiary.

The following Death Benefit options are available:

• **Option A**: If the sole primary Beneficiary is the surviving Spouse of the deceased Owner, the

surviving Spouse may elect to continue the Contract as the new Owner. This benefit may only be

exercised one time. An individual who does not meet the definition of Spouse may not be able to

continue the Contract for that person's lifetime. That individual must receive the proceeds of the

Contract and any attached endorsements or riders within the time period specified in section

72(s) of the IRC.

• **Option B**: If the Beneficiary is a natural person, the Death Benefit proceeds will be applied in

accordance with section 72(s) of the IRC under one of the Income Payout Options. The income

payments must be made for the Beneficiary's life or a period not extending beyond the

Beneficiary's life expectancy. Payments must commence within one year of the date of the

Owner's death.

• **Option C**: A Beneficiary may receive the Death Benefit proceeds in a single lump sum at any time

within five years of the Owner's death.

Unless option A is elected or payments under Option B commence within one year of the date of the

Owner's Death, the entire interest in the Contract will be paid under Option C.

If there are multiple Beneficiaries, each Beneficiary will be able to elect to receive his or her share of the

benefits under either Option B or Option C. If a Beneficiary does not make such an election, their share of

the Death Benefit proceeds will be paid under Option C. Until payment of the Death Benefit proceeds, the

proceeds remain in the Contract. Death Benefit proceeds will be distributed 5 years from the Owner's

death or earlier if requested by the Beneficiary. Interest, if any, will be paid on the Death Benefit proceeds

under Option C as required by applicable state law. Other minimum distribution rules apply to Qualified

Contracts.

***Death of the Annuitant during the Accumulation Period.*** If an Annuitant who is not an Owner dies

during the Accumulation Period and there is a surviving Owner who is a natural person, the following will

occur:

• If there is a surviving Joint Annuitant, the surviving Joint Annuitant will become the Annuitant.

• If there is no Joint Annuitant, the Owner(s) will become the Annuitant(s).

If an Annuitant dies during the Accumulation Period and the Owner is a non-natural person, the following

will occur:

• The death of any Annuitant will be treated as the death of the Owner and Death Proceeds must

be distributed in accordance with Death Benefit Options B or C.

• Unless payments under option B commence within one year of the date of death, the entire

interest in the Contract will be paid in accordance with Death Benefit Option C.

***Proof of Death and Payment of Death Benefit Proceeds*.** TheDeath Benefit proceeds are payable

upon receipt at our Administrative Office of proof of death of the Owner while the Contract is in force (or

Annuitant's death if the Owner is a non-natural person), proof of each Beneficiary's interest in a form and

manner satisfactory to us, and any other documents we require. Proof of death may consist of a certified

copy of the death record, a certified copy of a court decree reciting a finding of death, or other similar

proof. Proof of each Beneficiary's interest may include our claim form from each Beneficiary, properly

completed. If we receive such proof before 4:00 P.M. Eastern Time, we will determine the amount of the

Death Benefit as of that day. If we receive proof of death at or after 4:00 P.M. Eastern Time, we will

determine the amount of the Death Benefit as of the next Business Day. Death Benefit proceeds will be

paid within 7 days after our receipt of the proof outlined above.

***Death Benefit Proceeds Amount.*** The amount that will be paid as Death Benefit proceeds during the

Accumulation Period is equal to the greater of:

a) The Risk Control Account Value plus the greater of the Fixed Account Value or the Fixed

Account Nonforfeiture Value on the date Death Benefit proceeds are payable; or

b) The Purchase Payment adjusted for withdrawals.

**Withdrawals will reduce the Purchase Payment, which is used to determine the Death Benefit, by**

**the ratio of the withdrawal (including any Surrender Charge and Market Value Adjustment) to the**

**Contract Value immediately prior to the withdrawal. As a result, reductions due to withdrawals**

**may be substantially more than the amount withdrawn, can significantly reduce your Death**

**Benefit and remaining Contract Values, and could terminate the Contract.**

If an Owner is added or changed, except in the case of spousal continuation, the amount that will be paid

upon the death of the new Owner is equal to the Contract Value on the date death benefit proceeds are

payable, calculated using the Interim Value calculation, if applicable. There is no impact on the Death

Benefit if an Owner is removed.

***Examples of Death Benefit after a Withdrawal:***

Example 1. This example assumes the Contract Value is greater than the Purchase Payment at the time

of the withdrawal.

Assume the following information:

• Purchase Payment = $100,000

• Withdrawal (including Surrender Charge and Market Value Adjustment) = $20,000; no other

withdrawals have been taken

• Contract Value at the time of withdrawal, including Interim Values = $115,000

*Step 1: Calculate the Death Benefit that would be payable immediately prior to the withdrawal:*

• Death Benefit payable immediately prior to the withdrawal = The greater of the Purchase

Payment and Contract Value

• Death Benefit payable immediately prior to the withdrawal = The greater of $100,000 and

$115,000 = $115,000

*Step 2: Calculate ratio of the withdrawal to the Contract Value immediately prior to the withdrawal:*

• Ratio = Withdrawal / (Contract Value immediately prior to the withdrawal)

• Ratio = $20,000 / $115,000 = 0.173913

*Step 3: Calculate reduction to Purchase Payment*:

• Reduction to Purchase Payment = Ratio x (Purchase Payment prior to withdrawal)

• Reduction to Purchase Payment = 0.173913 x $100,000 = $17,391.30

*Step 4: Calculate Purchase Payment adjusted for withdrawals*:

• Purchase Payment adjusted for withdrawals = Purchase Payment prior to withdrawal – Reduction

to Purchase Payment

• Purchase Payment adjusted for withdrawals = $100,000 – $17,391.30 = $82,608.70

*Step 5: Calculate the Contract Value after the withdrawal:*

• Contract Value immediately after the withdrawal = Contract Value at the time of the withdrawal –

withdrawal

• Contract Value immediately after the withdrawal = $115,000 – $20,000 = $95,000

*Step 6: Calculate the Death Benefit that would be payable immediately after the withdrawal:*

• Death Benefit payable immediately after the withdrawal = The greater of the Purchase Payment

adjusted for withdrawals and Contract Value immediately after the withdrawal

• Death Benefit payable immediately after the withdrawal = The greater of $82,608.70 and $95,000

= $95,000

• The withdrawal of $20,000 reduced the Death Benefit payable by $20,000 (i.e., $115,000 -

$95,000)

Example 2. This example assumes the Contract Value is less than the Purchase Payment at the time of

the withdrawal.

Assume the following information:

• Purchase Payment = $100,000

• Withdrawal (including Surrender Charge and Market Value Adjustment) = $20,000; no other

withdrawals have been taken

• Contract Value at the time of withdrawal, including Interim Values = $60,000

*Step 1: Calculate the Death Benefit that would be payable immediately prior to the withdrawal:*

• Death Benefit payable immediately prior to the withdrawal = The greater of the Purchase

Payment and Contract Value

• Death Benefit payable immediately prior to the withdrawal = The greater of $100,000 and $60,000

= $100,000

*Step 2: Calculate ratio of the withdrawal to the Contract Value immediately prior to the withdrawal:*

• Ratio = Withdrawal / (Contract Value immediately prior to the withdrawal)

• Ratio = $20,000 / $60,000 = 0.3333333

*Step 3: Calculate reduction to Purchase Payment*:

• Reduction to Purchase Payment = Ratio x (Purchase Payment prior to withdrawal)

• Reduction to Purchase Payment = 0.3333333 x $100,000 = $33,333.33

*Step 4: Calculate Purchase Payment adjusted for withdrawals*:

• Purchase Payment adjusted for withdrawals = Purchase Payment prior to withdrawal – Reduction

to Purchase Payment

• Purchase Payment adjusted for withdrawals = $100,000 – $33,333.33 = $66,666.67

*Step 5: Calculate the Contract Value after the withdrawal:*

• Contract Value immediately after the withdrawal = Contract Value at the time of the withdrawal –

withdrawal

• Contract Value immediately after the withdrawal = $60,000 – $20,000 = $40,000

*Step 6: Calculate the Death Benefit that would be payable immediately after the withdrawal*

• Death Benefit payable immediately after the withdrawal = The greater of the Purchase Payment

adjusted for withdrawals and Contract Value immediately after the withdrawal

• Death Benefit payable immediately after the withdrawal = The greater of $66,666.67 and $40,000

= $66,666.67

• The withdrawal of $20,000 reduced the Death Benefit payable by $33,333.33 (i.e., $100,000 -

$66,666.67)

As illustrated in Example 2, the Death Benefit calculation may result in a reduction in the Death Benefit

that is significantly larger than the withdrawal amount.

The Death Benefit amount will not be less than the amount required by state law in which the Contract

was delivered. The Death Benefit proceeds include any interest paid on the Death Benefit proceeds as

required by state law. Interest, if any, will be calculated at the rate and for the time period required by

state law. A Surrender Charge will not apply to Death Benefit proceeds.

***Spousal Continuation*.** If the sole primary Beneficiary is the surviving Spouse of the deceased Owner,

the surviving Spouse may elect to continue the Contract at the current Contract Value. In this event, the

surviving Spouse will assume ownership of the Contract. Spousal continuation may only be exercised one

time, and there is no impact on the Death Benefit.

***Death of Owner or Annuitant After the Income Payout Date*.** We must be notified immediately of the

death of an Annuitant or Owner. Proof of death will be required upon the death of an Annuitant or Owner.

We are not responsible for any misdirected payments that result from the failure to notify us of any such

death.

If all Annuitants die before all of the guaranteed income payments have been made, remaining

guaranteed income payments will be treated as the Death Benefit and will be distributed in one of the

following two ways:

a) Income payments will be continued during the remainder of the guaranteed period certain to the

Owner; or

b) The present value of the remaining income payments computed at the interest rate used to create

the income payout option in effect will be paid to the Owner.

If all Annuitants die and there are no remaining guaranteed income payments, the contract is terminated,

and we have no further obligation under the contract.

If an Owner dies during the Payout Period, any remaining income payments will be distributed to the

Beneficiary at least as rapidly as provided by the Income Payout Option in effect.

***Interest on Death Benefit Proceeds*.** We will pay interest on Death Benefit proceeds from the date we

receive Proof of Death until the date of payment. Interest will be paid at an annual rate equal to the

current interest rate in effect for funds left on deposit with us, or if we have not established a rate for funds

left on deposit, at the 2-year Treasury Constant Maturity Rate as published by the Federal Reserve. In

determining the effective annual rate or rates, we will use the rate in effect on the date Proof of Death is

received.

Payment will be made within 31 calendar days from the latest of the following:

1)The date we receive Proof of Death;

2)The date we receive sufficient information to determine liability, the extent of the liability,

and the appropriate payee legally entitled to the proceeds; or

3)The date that any legal impediments to payment of proceeds that depend on the action of

parties other than us are resolved and sufficient evidence of the same is provided to us. Legal

impediments to payment include but are not limited to 1) The establishment of guardianships and

conservatorships; 2) The appointment and qualification of trustees, executors and administrators;

and 3) The submission of information required to satisfy state and federal reporting requirements.

In the event payment is postponed for more than 31 calendar days from the latest of items (a), (b) or (c)

above, the annual rate of interest during the period of postponement (beginning on the 32nd day until the

date of payment) will be equal to the interest rate described above, plus 10%.

***Abandoned Property Requirements*.** Every state has unclaimed property laws which generally declare

annuity contracts to be abandoned after a period of inactivity of three to five years from the date the

Death Benefit is due and payable. For example, if the payment of a Death Benefit has been triggered, but,

if after a thorough search, we are still unable to locate the Beneficiary, or the Beneficiary does not come

forward to claim the Death Benefit in a timely manner, the Death Benefit will be paid to the abandoned

property division or unclaimed property office of the state in which the Beneficiary or you last resided, as

shown on our books and records, or to our state of domicile. The "escheatment" is revocable, however,

and the state is obligated to pay the Death Benefit (without interest) if your Beneficiary steps forward to

claim it with the proper documentation. To prevent such escheatment, it is important that you update your

Beneficiary designations, including addresses, if and as they change. To make such changes, please

contact us by writing to us or calling us at our Administrative Office.

**Systematic Withdrawals**

Reoccurring withdrawals are referred to as systematic withdrawals. If elected at the time of the application

or requested at any other time by Authorized Request in Good Order, you may elect to receive periodic

partial withdrawals under our systematic withdrawal plan. Under the systematic withdrawal plan, we will

make partial withdrawals (on a monthly, quarterly, semi-annual, or annual basis), as specified by you.

Systematic withdrawals must be at least $100 each. Generally, you must be at least age 59½ to

participate in the systematic withdrawal plan. Systematic withdrawals may be requested on the following

basis:

**•**Total systematic withdrawals for the calendar year equal to your annual Required Minimum

Distribution; or

**•**As a specified dollar amount

No Surrender Charge or Market Value Adjustment will be deducted for Required Minimum Distribution

systematic withdrawals. **All other systematic withdrawals in excess of the Annual Free Withdrawal**

**Amount will be subject to Surrender Charges. Systematic withdrawals, including Required**

**Minimum Distributions, could significantly reduce the Contract Value due to Surrender Charge, Interim Value calculation, and Market Value Adjustment, and the use of proportionate withdrawal**

**calculations. The Contract may not be appropriate for investors who plan to take systematic**

**withdrawals under the Contract.**

Unless you instruct us otherwise, systematic withdrawals will be taken proportionally from the Contract

Value in each Allocation Option.

Participation in the systematic withdrawal plan will terminate on the earliest of the following events:

• The Surrender Value falls below the minimum required value of $2,000;

• The contract is surrendered;

• You request by Authorized Request in Good Order that your participation in the plan cease; or

• The Income Payout Date is reached.

Like all withdrawals, systematic withdrawals will reduce the Death Benefit on a proportional basis,

perhaps by more than the amount of the withdrawal, as well as the values under the Contract.

There are federal income tax consequences to partial withdrawals through the systematic withdrawal plan

and you should consult with your tax adviser before electing to participate in the plan. We may

discontinue offering the systematic withdrawal plan at any time.

**INCOME PAYMENTS - THE PAYOUT PERIOD**

**Payout Date**

The anticipated Income Payout Date is the first Contract Anniversary after the oldest Annuitant's 95<sup>th</sup>

birthday. Even if the Annuitant is changed, the Income Payout Date will not change unless you request a

different Income Payout Date via Authorized Request.

You may change the Income Payout Date by sending an Authorized Request in Good Order to our

Administrative Office provided: (i) the request is made while an Owner is living; (ii) the request is received

at our Administrative Office at least 30 days before the anticipated Income Payout Date; (iii) the requested

Income Payout Date is at least two years after the Contract Issue Date; and (iv) the requested Income

Payout Date is no later than the anticipated Income Payout Date as shown on your Contract Data Page

(typically the first Contract Anniversary after the oldest Annuitant's 95th birthday)**.** Any such change is

subject to any maximum maturity Age restrictions that may be imposed by law.

**Payout Period**

The Payout Period is the period of time that begins on the Income Payout Date and continues until we

make the last payment as provided by the Income Payout Option chosen. On the first day of the Payout

Period, the Contract Value (calculated using the Interim Value calculation, if applicable, and subject to the

Fixed Account Nonforfeiture Value, if applicable) will be applied to the Income Payout Option you

selected, which are described below. A Surrender Charge will not apply to proceeds applied to an Income

Payout Option. You cannot change the Annuitant or Owner on or after the Income Payout Date for any

reason.

**Terms of Income Payments**

We use fixed rates of interest to determine the amount of fixed income payments payable under the

Income Payout Options. Fixed income payments are periodic payments from us to the Owner, the amount

of which is fixed and guaranteed by us. The amount of each payment depends on the form and duration

of the Income Payout Option chosen, the Age of the Annuitant, the Annuitant's sex at birth (if applicable),

the amount applied to purchase the income payments and the applicable income purchase rates in the

Contract. The income purchase rates in the Contract are based on a minimum guaranteed interest rate of

1%. We may, in our discretion and on a non-discriminatory basis, make income payments in an amount

based on a higher interest rate. Once income payments begin, you cannot change the terms or method of

those payments. We do not apply a Surrender Charge, Interim Value calculations, or Market Value

Adjustment to income payments during the Income Payout Period.

We will make the first income payment on the Income Payout Date. We may require proof of age and sex

at birth (if the Income Payout Option rate is based on sex at birth) of the Annuitant/Joint Annuitants before

making the first income payment. To receive income payments, the Annuitant/Joint Annuitant must be

living on the Income Payout Date and on the date that each subsequent payment is due as required by

the terms of the Income Payout Option. We may require proof from time to time that this condition has

been met.

**Electing an Income Payout Option**

You and/or the Beneficiary may elect to receive one of the Income Payout Options described under

"Options" below. The Income Payout Option and distribution, however, must satisfy the applicable

distribution requirements of Section 72(s) or 401(a)(9) of the Internal Revenue Code, as applicable.

The election of an Income Payout Option must be made by Authorized Request. The election is

irrevocable after the payments commence. The Owner may not assign or transfer any future payments

under any option.

We will make income payments monthly, quarterly, semiannually, or annually for the Installment Option.

Life Income and Joint and Survivor Life Income options allow monthly income payments.

You may change your Income Payout Option any time before payments begin on the Income Payout

Date.

**Income Payout Options**

The amount applied to an Income Payout Option is equal to the Risk Control Account Value plus the

greater of the Fixed Account Value or the Fixed Account Nonforfeiture Value immediately prior to the

commencement of the Payout Period, less the amount of any premium taxes paid. **To determine the**

**Contract Value prior to the end of the Interest Term, the amount applied to an Income Payout**

**Option is based on the Interim Value (which may reflect a positive or negative return), instead of**

**crediting interest.** Additionally, electing an Income Payout Option during an Interest Term results in the

Interim Value being used for the Risk Control Account Value, which may be significantly less than the

amount that would have been applied to the Income Payout Option if you waited until the end of the

Interest Term.

We offer the following Income Payout Options described below. The frequency and duration of income

payments will affect the amount you receive with each payment. In general, if income payments are

expected to be made over a longer period of time, the amount of each income payment will be less than

the amount of each income payment if income payments are expected to be made over a shorter period

of time. Similarly, more frequent income payments will result in the amount of each income payment being

lower than if income payments were made less frequently for the same period of time. Additionally,

electing an Income Payout Option could significantly reduce the amount applied to the Income Option due

to the Interim Value calculation.

**Option 1 – Installment Option.** We will pay monthly income payments for a chosen number of years, not

less than 10, nor more than 30. If the Annuitant dies before all income payments have been made for the

chosen number of years, remaining guaranteed income payments will be treated as the Death Benefit

and will be distributed in one of the following two ways: a.) income payments will be continued for the

remainder of the period to the Owner; or b.) the present value of the remaining income payments,

computed at the interest rate used to create the Option 1 rates, will be paid to the Owner.

**Option 2 – Life Income Option – Guaranteed Period Certain.** We will pay monthly income payments

for as long as the Annuitant lives. If the Annuitant dies before all of the income payments have been made

for the guaranteed period certain, remaining guaranteed income payments will be treated as the Death

Benefit and will be distributed in one of the following two ways: a.) income payments will be continued

during the remainder of the guaranteed period certain to the Owner; or b.) the present value of the

remaining income payments, computed at the interest rate used to create the Option 2 rates, will be paid

to the Owner. If a Guaranteed Period of 0 years is selected and the Annuitant dies before the first income

payment is made, no income payments will be made and the Death Benefit described under "<u>[Benefits](#i23e6f587141a4b38801522f2e22abf0d_25900)</u> 

<u>[Available Under the Contract - Death Benefit – Death Benefit Proceeds Amount](#i23e6f587141a4b38801522f2e22abf0d_25900)</u>" will be paid.

The Guaranteed Period Certain choices are:

• 0 years (life income only);

• 5 years;

• 10 years;

• 15 years; or

• 20 years.

**Option 3 – Joint and Survivor Life Income Option – 10-Year Guaranteed Period Certain.** We will pay

monthly income payments for as long as either of the Annuitants is living. If at the death of the second

surviving Annuitant, income payments have been made for less than 10 years, remaining guaranteed

income payments will be treated as the Death Benefit and will be distributed in one of the following two

ways: a) income payments will be continued during the remainder of the guaranteed period certain to the

Owner; or b) the present value of the remaining income payments, computed at the interest rate used to

create the Option 3 rates, will be paid to the Owner.

Income payment(s) will be made to the Beneficiary if there is no surviving Owner. If there is no surviving

Owner or Beneficiary, income payment(s) will be made to the Owner's estate.

If you do not select an Income Payout Option, we will make monthly payments on the following basis,

(unless the Internal Revenue Code ("IRC") requires that we pay in some other manner in order for the

Contract to qualify as an annuity or to comply with Section 401(a)(9) of the IRC, in which case we will

comply with those requirements):

● Income payments will be equal to the Contract Value (calculated using the Interim Value

calculation, if applicable, and subject to the Fixed Account Nonforfeiture Value, if applicable)

applied to the Life Income Option with 10-Year Guaranteed Period Certain for Contracts with one

Annuitant or the Joint and Survivor Life Income Option with 10-Year Guaranteed Period Certain

for Contracts with two Annuitants, as described in Income Payout Options 2 and 3 above.

● Upon the death of all Annuitants, we will pay the Beneficiary as described in Income Payout

Options 2 and 3 above.

The minimum amount which can be applied under all income payout options is the greater of $2,500 or

the amount required to provide an initial monthly income payment of $20. We may require due proof of

age and sex at birth of any Annuitant on whose life an income payout option is based.

We allow partial annuitization. Partial annuitization will count toward the Annual Free Withdrawal Amount.

The Income Payout Options described above may not be offered in all states. Any state variations are

described in[Appendix](#i88be85d061064e5e8bc8f6adf165b9b2_70) B. Further, we may offer other Income Payout Options. More than one option may

be elected. If your Contract is a Qualified Contract, not all options may satisfy required minimum

distribution rules. In addition, note that effective for Qualified Contract Owners who die on or after January

1, 2020, subject to certain exceptions, most non-spouse designated beneficiaries must now complete

death benefit distributions within ten years of the Owner's death in order to satisfy required minimum

distribution rules. You should consult a tax advisor before electing an Income Payout Option.

**FEDERAL INCOME TAX MATTERS**

The following discussion is general in nature and is not intended as tax advice. Each person concerned

should consult a competent tax advisor. No attempt is made to consider any applicable state or other

income tax laws, any state and local estate or inheritance tax, or other tax consequences of ownership or

receipt of distributions under a Contract.

**General Tax Treatment**

When you invest in an annuity contract, you usually do not pay taxes on your investment gains until you

withdraw the money—generally for retirement purposes.

If you invest in an annuity as part of an individual retirement plan, pension plan or employer-sponsored

retirement program, your contract is called a Qualified Contract. The tax rules applicable to Qualified

Contracts vary according to the type of retirement plan and the terms and conditions of the plan.

If your annuity is independent of any formal retirement or pension plan, it is termed a Non-Qualified

Contract.

Tax law imposes several requirements that annuities must satisfy to receive the tax treatment normally

accorded to annuity contracts. We believe that the Contracts will qualify as annuity contracts for Federal

income tax purposes and this discussion is based on that assumption. Non-Qualified Contracts contain

provisions that are intended to comply with these Internal Revenue Code requirements; we intend to

review such provisions and modify them, if necessary, to assure that they comply with the applicable

requirements when such requirements are clarified by regulation or otherwise. Other rules may apply to

Qualified Contracts.

**Taxation of Withdrawals**

***Non-Qualified Contracts.*** When a partial withdrawal from a Non-Qualified Contract occurs, the amount

received will be treated as ordinary income subject to tax up to an amount equal to the excess (if any) of

the Contract Value, without adjustment for any applicable Surrender Charge, immediately before the

distribution over the Owner's investment in the Contract (generally, the Purchase Payments or other

consideration paid for the Contract, reduced by any amount previously distributed from the Contract that

was not subject to tax) at that time. In the case of a full surrender under a Non-Qualified Contract, the

amount received generally will be taxable only to the extent it exceeds the Owner's investment in the

Contract.

***Qualified Contracts.*** In the case of a withdrawal under a Qualified Contract, you are taxed based on the

portion of the withdrawal that exceeds your "investment in the contract" (often referred to as cost basis).

For Qualified Contracts, you typically have not paid tax on the Purchase Payment contributed to your

Contract, and therefore there is generally no cost basis. As a result, most amounts withdrawn from the

Contract will be treated as fully taxable ordinary income. Exceptions to this general rule include

withdrawals from Roth IRAs and IRAs where you have separately tracked and reported any after-tax

contributions that you have made. We generally do not track employee contributions. You should consult

your tax advisor.

**Market Value Adjustment**

The Contract Value immediately before a withdrawal may be increased or decreased by a Market Value

Adjustment that results from a withdrawal. There is, however, no definitive guidance on the proper tax

treatment of Market Value Adjustments and you should discuss the potential tax consequences of a

Market Value Adjustment with your tax advisor.

**Additional Tax on Certain Withdrawals**

In the case of a distribution, there may be an imposed federal additional tax equal to ten percent of the

amount treated as income. In general, however, there is no additional tax on distributions if:

• you die;

• you become disabled;

• you receive a series of substantially equal periodic payments made (at least annually) for your life

(or life expectancy) or the joint lives (or life expectancies) for you and your named beneficiary;

• your withdrawal is a qualified reservist distribution;

• the distribution is due to any IRS levy;

• your withdrawal is due to a terminal illness distribution; or

• you withdraw funds up to the cap for domestic violence abuse distribution.

Other exceptions may be applicable under certain circumstances and special rules may be applicable in

connection with the exceptions enumerated above. Additional exceptions may apply to distributions from

a Qualified Contract. You should consult a qualified tax advisor.

**Substantially Equal Periodic Payments**

Substantially equal periodic payments must continue until the later of reaching age 59½ or five years.

Modification of payments during that time period will result in the retroactive application of the 10%

additional tax. You should consult a qualified tax advisor before making a modification.

**Taxation of Income Payments**

Although tax consequences may vary depending on the payout option elected under an annuity contract,

a portion of each income payment is generally not taxed, and the remainder is taxed as ordinary income.

The non-taxable portion of an income payment is generally determined in a manner that is designed to

allow you to recover your investment in the Contract ratably on a tax-free basis over the expected stream

of income payments, as determined when income payments start. Once your investment in the Contract

has been fully recovered, however, the full amount of each income payment is subject to tax as ordinary

income.

**Partial Annuitization**

If part of an annuity contract's value is applied to an annuity option that provides payments for one or

more lives or for a period of at least ten years, those payments may be taxed as annuity payments

instead of withdrawals. The payment options under the Contract are intended to qualify for this "partial

annuitization" treatment. Please consult a tax advisor if you are considering a partial annuitization.

**Taxation of Death Benefit Proceeds**

Amounts may be distributed from a Contract because of your death or the death of the Annuitant.

Generally, such amounts are includible in the income of the recipient as follows: (i) if distributed in a lump

sum, they are taxed in the same manner as surrender of the Contract, or (ii) if distributed under a payout

option, they are taxed in the same way as income payments.

To be treated as an annuity contract for Federal income tax purposes, Section 72(s) of the Internal

Revenue Code requires any Non-Qualified Contract to contain certain provisions specifying how your

interest in the Contract will be distributed in the event of the death of an Owner of the Contract.

Specifically, Section 72(s) requires that (i) if any Owner dies on or after the annuity starting date, but prior

to the time the entire interest in the Contract has been distributed, the entire interest in the Contract will

be distributed at least as rapidly as under the method of distribution being used as of the date of such

Owner's death; and (ii) if any Owner dies prior to the annuity starting date, the entire interest in the

Contract will be distributed within five years after the date of such Owner's death unless distributions are

made over life or life expectancy, beginning within one year of the death of the Owner. However, if the

designated Beneficiary is the surviving spouse of the deceased Owner, the Contract may be continued

with the surviving spouse as the new Owner.

**Transfers, Assignments or Exchanges of the Contract**

A transfer or assignment of ownership of the Contract, the designation of an Annuitant other than the

Owner, the selection of certain maturity dates, or the exchange of the Contract may result in certain tax

consequences to you that are not discussed herein. An Owner contemplating any such transfer,

assignment or exchange, should consult a tax advisor as to the tax consequences.

**Withholding**

Annuity and pension Distributions are generally subject to federal income tax withholding. They may also

be subject to state income tax withholding, where applicable. Recipients can generally elect, however, not

to have tax withheld from distributions. The withholding rate varies according to the type of distribution

and the Owner's tax status. The Owner will be provided the opportunity to elect not have tax withheld

from distributions. Certain limitations may apply. Please consult a tax advisor before making any

withholding election.

"Eligible rollover distributions" from section 401(a), 403(b), and governmental 457 plans are subject to a

mandatory federal income tax withholding of 20%. For this purpose, an eligible rollover distribution is any

distribution to an employee (or employee's spouse or former spouse as Beneficiary or alternate Payee)

from such a plan, except certain distributions such as distributions required by the Internal Revenue

Code, distributions in a specified annuity form, or hardship distributions. The 20% withholding does not

apply, however, to nontaxable distributions or if (i) the employee (or employee's spouse or former spouse

as Beneficiary or alternative Payee)chooses a "direct rollover" from the plan to a tax-qualified plan, IRA or

tax sheltered annuity or to a governmental 457 plan that agrees to separately account for rollover

contributions; or (ii) a non-spouse Beneficiary chooses a "direct rollover" from the plan to an IRA

established by the direct rollover.

**Federal Estate Taxes, Gift and Generation-Skipping Transfer Taxes**

While no attempt is being made to discuss in detail the Federal estate tax implications of the Contract, a

purchaser should keep in mind that the value of an annuity contract owned by a decedent and payable to

a Beneficiary by virtue of surviving the decedent is included in the decedent's gross estate. Depending on

the terms of the annuity contract, the value of the annuity included in the gross estate may be the value of

the lump sum payment payable to the contingent Owner or the actuarial value of the payments to be

received by the Beneficiary. Consult an estate planning advisor for more information.

Under certain circumstances, the Internal Revenue Code may impose a generation-skipping transfer tax

("GST") when all or part of an annuity contract is transferred to, or a Death Benefit is paid to, an individual

two or more generations younger than the Owner. Regulations issued under the Internal Revenue Code

may require us to deduct the tax from your Contract, or from any applicable payment, and pay it directly to

the IRS. The federal estate tax, gift tax and GST tax exemptions and maximum rates may each be

adjusted.

The potential application of these taxes underscores the importance of seeking guidance from a qualified

advisor to help ensure that your estate plan adequately addresses your needs and those of your

beneficiaries under all possible scenarios.

**Same-Sex Spouses**

Under the Contract, a surviving spouse may have certain continuation rights that he or she may elect to

exercise upon your death for the Contract's Death Benefit. All Contract provisions relating to spousal

continuation are available only to a person who meets the definition of "spouse" under federal law. The

U.S. Supreme Court has held that same-sex marriages must be permitted under state law and that

marriages recognized under state law will be recognized for federal law purposes. Domestic partnerships

and civil unions that are not recognized as legal marriages under state law, however, will not be treated as

marriages under federal law. Consult a tax advisor for more information on this subject.

**Annuity Purchases By Nonresident Aliens and Foreign Corporations**

The discussion above provides general information regarding U.S. federal income tax consequences to

annuity purchasers that are U.S. citizens or residents. Purchasers that are not U.S. citizens or U.S.

permanent residents will generally be subject to U.S. federal withholding tax on taxable distributions from

annuity contracts at a 30% rate unless a lower treaty rate applies. In addition, such purchasers may be

subject to state and/or municipal taxes and taxes that may be imposed by the purchaser's country of

citizenship or residence. Additional withholding may occur with respect to entity purchasers (including

foreign corporations, partnerships, and trusts) that are not U.S. residents. Prospective purchasers are

advised to consult with a qualified tax advisor regarding U.S., state, and foreign taxation with respect to

an annuity contract purchase.

**Additional Information about the Taxation of Non-Qualified Contracts**

This discussion generally applies to Contracts owned by natural persons. See "Non-Natural Person"

below for a discussion of Non-Qualified Contracts owned by persons such as corporations and trusts that

are not natural persons.

***Medicare Tax.*** Distributions from a Non-Qualified Contract will be considered "investment income" for

purposes of the Medicare tax on investment income. Thus, in certain circumstances, a 3.8% tax may be

applied to some or all of the taxable portion of distributions (e.g., earnings) to individuals whose income

exceeds certain threshold amounts. Please consult a tax advisor for more information.

***Multiple Contracts.*** All Non-Qualified deferred annuity contracts that are issued by us (or our affiliates) to

the same Owner during any calendar year are treated as one annuity contract for purposes of determining

the amount includible in such Owner's income when a taxable distribution occurs.

***Non-Natural Person.*** If a non-natural person (e.g., a corporation or a trust) owns a Non-Qualified

Contract, the taxpayer generally must include in income any increase in the excess of the account value

over the investment in the Contract (generally, the Purchase Payment or other consideration paid for the

Contract) during the taxable year. There are some exceptions to this rule and a prospective Owner that is

not a natural person should discuss these with a tax advisor.

**Additional Information about the Taxation of Qualified Contracts**

***Individual Retirement Annuities (IRAs)***, as defined in Section 408 of the Internal Revenue Code, permit

individuals to make annual contributions of up to the lesser of a specified dollar amount for the year or the

amount of compensation includible in the individual's gross income for the year. The contributions may be

deductible in whole or in part, depending on the individual's income. Distributions from certain retirement

plans may be "rolled over" into an IRA on a tax-deferred basis without regard to these limits. Amounts in

the IRA (other than nondeductible contributions) are taxed when distributed from the IRA. A 10%

additional tax generally applies to distributions made before age 59½, unless an exception applies.

Distributions that are rolled over to an IRA within 60 days are not immediately taxable, however only one

such rollover is permitted each year. An individual can make only one rollover from an IRA to another (or

the same) IRA in any 12-month period, regardless of the number of IRAs that are owned. The limit will

apply by aggregating all of an individual's IRAs, including SEP and SIMPLE IRAs as well as traditional

and Roth IRAs, effectively treating them as one IRA for purposes of the limit. This limit does not apply to

direct trustee-to-trustee transfers or conversion to Roth IRAs.

***Roth IRAs***, as described in Internal Revenue Code Section 408A, permit certain eligible individuals to

contribute to make non-deductible contributions to a Roth IRA in cash or as a rollover or transfer from

another Roth IRA or other IRA. A rollover from or conversion of an IRA to a Roth IRA is generally subject

to tax and other special rules apply. The Owner may wish to consult a tax advisor before combining any

converted amounts with any other Roth IRA contributions, including any other conversion amounts from

other tax years. Distributions from a Roth IRA generally are not taxed, except that, once aggregate

distributions exceed contributions to the Roth IRA, income tax and a 10% additional tax may apply to

distributions made (i) before age 59½ (subject to certain exceptions) or (ii) during the five taxable years

starting with the year in which the first contribution is made to any Roth IRA. A 10% additional tax may

apply to amounts attributable to a conversion from an IRA if they are distributed during the five taxable

years beginning with the year in which the conversion was made. Distributions that are rolled over to an

IRA within 60 days are not immediately taxable, however only one such rollover is permitted each year.

An individual can make only one rollover from an IRA to another (or the same) IRA in any 12-month

period, regardless of the number of IRAs that are owned. The limit will apply by aggregating all of an

individual's IRAs, including SEP and SIMPLE IRAs as well as traditional and Roth IRAs, effectively

treating them as one IRA for purposes of the limit. This limit does not apply to direct trustee-to-trustee

transfers or conversions to Roth IRAs.

***Required Minimum Distributions***. Qualified Contracts have required minimum distribution ("RMD") rules

that govern the timing and amount of distributions. You should refer to your Contract or consult a tax

advisor for more information about these rules. The required beginning date for these distributions is

based on your applicable age as defined in the tax law. You should refer to your Contract, retirement plan,

adoption agreement, or consult a tax advisor for more information about these distribution rules.

If distributions from your IRA are made in the form of an annuity, and the annuity payments in a year

exceed the amount that would be required to be distributed for the year under the rules for non-annuitized

contracts (determined by treating the IRA's account balance as including the value of the annuity), the

excess can be counted towards satisfying the RMD with respect to any non-annuitized account balance in

your IRA(s). You should consult a tax advisor if you want to use this special rule.

Effective for Qualified Contract Owners who die on or after January 1, 2020, subject to certain exceptions,

most non-spouse designated beneficiaries must now complete death benefit distributions within ten years

of the Owner's death in order to satisfy RMD rules. Consult a tax advisor.

If you fail to take your full RMD for a year, you will be subject to a 25% excise tax on any shortfall. This

excise tax is reduced to 10% if a distribution of the shortfall is made within two years and prior to the date

the excise tax is assessed or imposed by the IRS. If you fail to take your full RMD for a year, you should

consult with a tax advisor for more information.

**Possible Tax Law Changes**

Although the likelihood of legislative changes is uncertain, there is always the possibility that the tax

treatment of the Contract could change by legislation or otherwise. Consult a tax advisor with respect to

legislative developments and their effect on the Contract.

We have the right to modify the Contract in response to legislative changes that could otherwise diminish

the favorable tax treatment that annuity contract owners currently receive. We make no guarantee

regarding the tax status of any contact and do not intend the above discussion as tax advice.

**What Acts may result in Penalties or Additional Taxes?**

There are tax advantages to using an annuity for retirement savings. The tax advantages may be offset

by additional taxes and penalties if you are not familiar with and follow the rules.

For example, there may be additions to regular tax for the following activities:

• Taking early distributions

• Allowing excess amounts to accumulate for failing to tax required distributions

• Making excess contributions

There may be penalties for the following, without limitation:

• Overstating the amount of nondeductible contributions

• Not having enough tax withheld

• Failing to report income

Please consult with your personal advisor to understand when additional tax or penalties may apply.

**OTHER INFORMATION**

**Important Information about the Indices**

***S&P 500 Index.*** The Contract is not sponsored, endorsed, sold or promoted by Standard & Poor's, a

division of the McGraw-Hill companies, Inc. ("S&P"). S&P makes no representation or warranty, express

or implied, to the Owners of the Contract or any member of the public regarding the advisability of

investing in securities generally or in the Contract particularly or the ability of the S&P 500 Index to track

general stock market performance. S&P's only relationship to the Company is the licensing of certain

trademarks and trade names of S&P and of the S&P 500 Index which is determined, composed and

calculated by S&P without regard to the Company or the Contract. S&P has no obligation to take the

needs of the Company or the Owners of the Contract into consideration in determining, composing or

calculating the S&P 500 Index. S&P is not responsible for and has not participated in the determination of

the prices and amount of the Contract or the timing of the issuance or sale of the Contract or in

determination or calculation of the equation by which the Contract is to be converted into cash. S&P has

no obligation or liability in connection with the administration, marketing or trading of the Contract.

S&P DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE S&P 500

INDEX OR ANY DATA INCLUDED THEREIN, AND S&P SHALL HAVE NO LIABILITY FOR ANY

ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. S&P MAKES NO WARRANTY, EXPRESS OR

IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE COMPANY, OWNERS OF THE PRODUCT, OR

ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 INDEX OR ANY DATA

INCLUDED THEREIN. S&P MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY

DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE

OR USE WITH RESPECT TO THE S&P 500 INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT

LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL S&P HAVE ANY LIABILITY FOR ANY

SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS),

EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

The S&P 500 Index is a stock market index based on the market capitalizations of 500 leading companies

publicly traded in the U.S. stock market, as determined by Standard & Poor's. The S&P 500 Index can go

up or down based on the stock prices of the 500 companies that comprise the Index. The S&P 500 Index

does not include dividends paid on the securities comprising the Index and therefore does not reflect the

full investment performance of the underlying securities.

The S&P 500 Index is a trademark of Standard & Poor's or its affiliates and has been licensed for use by

the Company.

***Dimensional US Small Cap Value Systematic Index.*** The Dimensional US Small Cap Value Systematic

Index (the "Index") is sponsored and published by Dimensional Fund Advisors LP ("Dimensional").

References to Dimensional include its respective directors, officers, employees, representatives,

delegates or agents. The use of "Dimensional" in the name of the Index and the related stylized mark(s)

are service marks of Dimensional and have been licensed for use by TruStage. TruStage has entered into

a license agreement with Dimensional providing for the right to use the Index and related trademarks in

connection with the TruStage™ ZoneChoice Advantage Annuity (the "Financial Product"). The Financial

Product is not sponsored, endorsed, sold or promoted by Dimensional, and Dimensional makes no

representation regarding the advisability of investing in such Financial Product. Dimensional has no

responsibilities, obligations or duties to investors in the Financial Product, nor does Dimensional make

any express or implied warranties, including, but not limited to, any warranties of merchantability or fitness

for a particular purpose or use with respect to the Index, or as to results to be obtained by a Financial

Product or any other person or entity from the use of the Index, trading based on the Index, the levels of

the Index at any particular time on any particular date, or any data included therein, either in connection

with the Financial Product or for any other use. Dimensional has no obligation or liability in connection

with the administration, marketing or trading of the Financial Product. In certain circumstances,

Dimensional may suspend or terminate the Index. Dimensional has appointed a third-party agent (the

"Index Calculation Agent") to calculate and maintain the Index. While Dimensional is responsible for the

operation of the Index, certain aspects have thus been outsourced to the Index Calculation Agent.

Dimensional does not guarantee the accuracy, timeliness or completeness of the Index, or any data

included therein or the calculation thereof or any communications with respect thereto. Dimensional has

no liability for any errors, omissions or interruptions of the Index or in connection with its use. In no event

shall Dimensional have any liability of whatever nature for any losses, damages, costs, claims and

expenses (including any special, punitive, direct, indirect or consequential damages (including lost

profits)) arising out of matters relating to the use of the Index, even if notified of the possibility of such

damages. Dimensional has provided TruStage with all material information related to the Index

methodology and the maintenance, operation and calculation of the Index. Dimensional makes no

representation with respect to the completeness of information related to the Index provided by TruStage

in connection with the offer or sale of any Financial Product. Dimensional acts as principal and not as

agent or fiduciary of any other person. Dimensional has not published or approved this document, nor

does Dimensional accept any responsibility for its contents or use.

***Barclays Risk Balanced Index.*** Neither Barclays Bank PLC ("BB PLC") nor any of its affiliates

(collectively 'Barclays') is the issuer or producer of TruStage™ ZoneChoice Advantage Annuity and

Barclays has no responsibilities, obligations or duties to investors in TruStage™ ZoneChoice Advantage

Annuity. The Barclays Risk Balanced Index (the "Index"), together with any Barclays indices that are

components of the Index, is a trademark owned by Barclays and, together with any component indices

and index data, is licensed for use by the Company as the issuer or producer of TruStage™ ZoneChoice

Advantage Annuity (the "Issuer").

Barclays' only relationship with the Issuer in respect of the Index is the licensing of the Index, which is

administered, compiled and published by BB PLC in its role as the index sponsor (the "Index Sponsor")

without regard to the Issuer or the TruStage™ ZoneChoice Advantage Annuity or investors in the

TruStage™ ZoneChoice Advantage Annuity. Additionally, the Company as issuer or producer TruStage™

ZoneChoice Advantage Advantage Annuity may for itself execute transaction(s) with Barclays in or

relating to the Index in connection with TruStage™ ZoneChoice Annuity. Investors acquire TruStage™

ZoneChoice Advantage Annuity from the Company and investors neither acquire any interest in the Index

nor enter into any relationship of any kind whatsoever with Barclays upon making an investment

TruStage™ ZoneChoice Advantage Annuity. The TruStage™ ZoneChoice Advantage Annuity is not

sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the

advisability of the TruStage™ ZoneChoice Advantage Annuity or use of the Index or any data included

therein. Barclays shall not be liable in any way to the Issuer, investors or to other third parties in respect of

the use or accuracy of the Index or any data included therein.

Barclays Index Administration ("BINDA"), a distinct function within BB PLC, is responsible for day-to-day

governance of BB PLC's activities as Index Sponsor.

To protect the integrity of Barclays' indices, BB PLC has in place a control framework designed to identify

and remove and/or mitigate (as appropriate) conflicts of interest. Within the control framework, BINDA has

the following specific responsibilities:

• oversight of any third party index calculation agent;

• acting as approvals body for index lifecycle events (index launch, change and retirement); and

• resolving unforeseen index calculation issues where discretion or interpretation may be required

(for example: upon the occurrence of market disruption events).

To promote the independence of BINDA, the function is operationally separate from BB PLC's sales,

trading and structuring desks, investment managers, and other business units that have, or may be

perceived to have, interests that may conflict with the independence or integrity of Barclays' indices.

Notwithstanding the foregoing, potential conflicts of interest exist as a consequence of BB PLC providing

indices alongside its other businesses. Please note the following in relation to Barclays' indices:

• BB PLC may act in multiple capacities with respect to a particular index including, but not limited

to, functioning as index sponsor, index administrator, index owner and licensor.

• Sales, trading or structuring desks in BB PLC may launch products linked to the performance of

an index. These products are typically hedged by BB PLC's trading desks. In hedging an index, a

trading desk may purchase or sell constituents of that index. These purchases or sales may affect

the prices of the index constituents which could in turn affect the level of that index.

• BB PLC may establish investment funds that track an index or otherwise use an index for portfolio

or asset allocation decisions.

The Index Sponsor is under no obligation to continue the administration, compilation and publication of

the Index or the level of the Index. While the Index Sponsor currently employs the methodology ascribed

to the Index (and application of such methodology shall be conclusive and binding), no assurance can be

given that market, regulatory, juridical, financial, fiscal or other circumstances (including, but not limited to,

any changes to or any suspension or termination of or any other events affecting any constituent within

the Index) will not arise that would, in the view of the Index Sponsor, necessitate an adjustment,

modification or change of such methodology. In certain circumstances, the Index Sponsor may suspend

or terminate the Index. The Index Sponsor has appointed a third-party agent (the "Index Calculation

Agent") to calculate and maintain the Index. While the Index Sponsor is responsible for the operation of

the Index, certain aspects have thus been outsourced to the Index Calculation Agent.

Barclays

1. makes no representation or warranty, express or implied, to the Issuer or any member of the

public regarding the advisability of investing in transactions generally or the ability of the Index to

track the performance of any market or underlying assets or data; and

2. has no obligation to take the needs of the Issuer into consideration in administering, compiling or

publishing the Index.

Barclays has no obligation or liability in connection with administration, marketing or trading of the

TruStage™ ZoneChoice Advantage Annuity.

The licensing agreement between the Company and BB PLC is solely for the benefit of the Company and

Barclays and not for the benefit of the owners of the TruStage™ ZoneChoice Annuity, investors or other

third parties.

BARCLAYS DOES NOT GUARANTEE, AND SHALL HAVE NO LIABILITY TO THE PURCHASERS AND

TRADERS, AS THE CASE MAY BE, OF THE TRANSACTION OR TO THIRD PARTIES FOR THE

QUALITY, ACCURACY AND/OR COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED

THEREIN OR FOR INTERRUPTIONS IN THE DELIVERY OF THE INDEX. BARCLAYS MAKES NO

EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES

OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO

THE INDEX INCLUDING, WITHOUT LIMITATION, THE INDICES, OR ANY DATA INCLUDED THEREIN.

IN NO EVENT SHALL BARCLAYS HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT,

OR CONSEQUENTIAL DAMAGES, OR ANY LOST PROFITS, EVEN IF NOTIFIED OF THE

POSSIBILITY OF SUCH DAMAGES SAVE TO THE EXTENT THAT SUCH EXCLUSION OF LIABILITY IS

PROHIBITED BY LAW.

None of the information supplied by Barclays and used in this publication may be reproduced in any

manner without the prior written permission of Barclays Bank PLC. Barclays Bank PLC is registered in

England No. 1026167. Registered office 1 Churchill Place London E14 5HP.

**Any reference to 'Bloomberg Index Services Limited' (including as abbreviated to 'Bloomberg') in** 

**their capacity as the index calculation agent must include the following:**

Bloomberg Index Services Limited is the official index calculation and maintenance agent of the Index, an

index owned and administered by Barclays. Bloomberg Index Services Limited does not guarantee the

timeliness, accurateness, or completeness of the Index calculations or any data or information relating to

the Index. Bloomberg Index Services Limited makes no warranty, express or implied, as to the Index or

any data or values relating thereto or results to be obtained therefrom, and expressly disclaims all

warranties of merchantability and fitness for a particular purpose with respect thereto. To the maximum

extent allowed by law, Bloomberg Index Services Limited, its affiliates, and all of their respective partners,

employees, subcontractors, agents, suppliers and vendors (collectively, the "protected parties") shall have

no liability or responsibility, contingent or otherwise, for any injury or damages, whether caused by the

negligence of a protected party or otherwise, arising in connection with the calculation of the Index or any

data or values included therein or in connection therewith and shall not be liable for any lost profits,

losses, punitive, incidental or consequential damages.

**Distribution of the Contract**

We have entered into a distribution agreement with our affiliate, CBSI, for the distribution of the Contract.

CBSI is a wholly-owned subsidiary of CUNA Mutual Investment Corporation ("CMIC"). The principal

business address of CBSI is 2000 Heritage Way, Waverly, IA 50677.

We and CBSI enter into selling agreements with other broker-dealer firms (the "Selling Broker-Dealers")

registered under the Securities Exchange Act of 1934, as amended (the "1934 Act"), who are members of

the Financial Industry Regulatory Authority, Inc. ("FINRA"). Contracts are sold by registered

representatives of the Selling Broker-Dealers (the "Selling Agents"). In those states where the Contract

may be lawfully sold, the Selling Agents are licensed as insurance agents by applicable state insurance

authorities and appointed as agents of the Company. CBSI also offered securities to customers through

CBSI registered representatives until May 2022. Through an agreement between LPL Financial ("LPL")

and CBSI, the majority of these former CBSI registered representatives, which primarily include

employees of CBSI's affiliates or the credit union where their FINRA registered branch is located,

registered with LPL. LPL is one of the Selling Broker-Dealers. CBSI receives compensation from LPL for

sales by certain LPL registered representatives pursuant to networking agreements with various credit

unions, LPL and CBSI.

We pay CBSI and/or our affiliates pay the Selling Broker-Dealers compensation for the promotion and

sale of the Contract. The Selling Agents who solicit sales of the Contract typically receive a portion of the

compensation paid to the Selling Broker-Dealers in the form of commissions or other compensation,

depending on the agreement between the Selling Broker-Dealer and the Selling Agent. The amount and

timing of commissions we may pay to Selling Broker-Dealers may vary depending on the selling

agreement and the Contract sold but is not expected to be more than 7.25% of the Purchase Payment.

We may also pay asset-based commission (sometimes called trail commissions) in addition to the

Purchase Payment-based commission. We may pay or allow other promotional incentives or payments in

the form of cash or other compensation to the extent permitted by FINRA rules and other applicable laws

and regulations.

We also pay compensation to wholesaling broker-dealers or other firms or intermediaries, including

payments to affiliates of ours, in return for wholesaling services such as providing marketing and sales

support, product training and administrative services to the Selling Agents of the Selling Broker-Dealers.

These allowances may be based on a percentage of the Purchase Payment.

In addition to the compensation described above, we may make additional cash payments, in certain

circumstances referred to as "override" compensation or reimbursements to Selling Broker-Dealers in

recognition of their marketing and distribution, transaction processing and/or administrative services

support. These payments are not offered to all Selling Broker-Dealers, and the terms of any particular

agreement governing the payments may vary among Selling Broker-Dealers depending on, among other

things, the level and type of marketing and distribution support provided. Marketing and distribution

support services may include, among other services, placement of the Company's products on the Selling

Broker-Dealers' preferred or recommended list, increased access to the Selling Broker-Dealers'

registered representatives for purposes of promoting sales of our products, assistance in training and

education of the Selling Agents, and opportunities for us to participate in sales conferences and

educational seminars. The payments or reimbursements may be calculated as a percentage of the

particular Selling Broker-Dealer's actual or expected aggregate sales of our annuity contracts (including

the Contract) and/or may be a fixed dollar amount. Broker-dealers receiving these additional payments

may pass on some or all of the payments to the Selling Agent.

You should ask your Selling Agent for further information about what commissions or other compensation

he or she, or the Selling Broker-Dealer for which he or she works, may receive in connection with your

purchase of a Contract.

Commissions and other incentives or payments described above are not charged directly to you. We

intend to recover commissions and other compensation, marketing, administrative and other expenses

and costs of Contract benefits through the fees and charges imposed under the Contract.

**Authority to Change**

Only the President or Secretary of the Company may change or waive any of the terms of your Contract.

Any change must be in writing and signed by the President or Secretary of the Company. You will be

notified of any such change, as required by law.

**Incontestability**

We consider all statements in your application (in the absence of fraud) to be representations and not

warranties. We will not contest your Contract.

**Misstatement of Age or Sex at Birth**

If an Annuitant's date of birth is misstated, we will adjust the income Payments under the Contract to be

equal to the payout amount the Contract Value would have purchased based on the individuals correct

date of birth. If an Annuitant's sex at birth has been misstated, and the life income rate type is based on

sex at birth, we will adjust the income payments under the Contract to be equal to the payout amount the

Contract Value would have purchased based on the Annuitant's correct sex at birth. We will add any

underpayments to the next payment. We will subtract any overpayment from future payments. We will not

credit or charge any interest to any underpayment or overpayment.

**Conformity with Applicable Laws**

The provisions of the Contract conform to the minimum requirements of the state in which the Contract is

delivered (i.e., the "state of issue"). The laws of the state of issue control any conflicting laws of any other

state in which the Owner may live on or after the Contract Issue Date. If any provision of your Contract is

determined not to provide the minimum benefits required by the state in which the Contract is issued,

such provision will be deemed to be amended to conform or comply with such laws or regulations.

Further, the Company will amend the Contract to comply with any changes in law governing the Contract

or the taxation of benefits under the Contract.

**Reports to Owners**

At least annually, we will mail a report to you at your last known address of record, a report that will state

the beginning and end dates for the current report period; your Contract Value prior to any Market Value

Adjustment at the beginning and end of the current report period; the amounts that have been credited

and debited to your Contract Value during the current report period, identified by the type of activity the

amount represents; the guaranteed minimum Death Benefit at the end of the current report period; the

Surrender Value at the end of the current report period; the Market Value Adjustment used to determine

the Surrender Value; and any other information required by any applicable law or regulation.

You also will receive confirmations of each financial transaction, such as transfers, withdrawals, and

surrenders.

**Householding**

To reduce service expenses, the Company may send only one copy of certain mailings and reports per

household, regardless of the number of contract owners at the household. However, you may obtain

additional copies upon request to the Company. If you have questions, please call us at 1-800-798-5500,

Monday through Friday, 7:30 A.M. to 6:00 P.M., Central Time.

**Change of Address**

You may change your address by writing to us at our Administrative Office. If you change your address,

we will send a confirmation of the address change to both your old and new addresses.

**Inquiries**

You may make inquiries regarding your Contract by writing to us or calling us at our Administrative Office.

**Legal Proceedings**

Like other insurance companies, we routinely are involved in litigation and other proceedings, including

class actions, reinsurance claims and regulatory proceedings arising in the ordinary course of our

business. In recent years, the life insurance and annuity industry, including us and our affiliated

companies, has been subject to an increase in litigation pursued on behalf of both individual and

purported classes of insurance and annuity purchasers, questioning the conduct of insurance companies

and their agents in the marketing of their products. In addition, state and federal regulatory bodies, such

as state insurance departments and attorneys general, periodically make inquiries and conduct

examinations concerning compliance by us and others with applicable insurance and other laws.

In connection with regulatory examinations and proceedings, government authorities may seek various

forms of relief, including penalties, restitution and changes in business practices. The Company has

established procedures and policies to facilitate compliance with laws and regulations and to support

financial reporting. These actions are based on a variety of issues and involve a range of the Company's

practices. We respond to such inquiries and cooperate with regulatory examinations in the ordinary

course of business. In the opinion of management, the ultimate liability, if any, resulting from all such

pending actions will not materially affect the financial statements of the Company, nor the Company's

ability to meet its obligations under the Contracts.

**FINANCIAL STATEMENTS *- (to be updated by amendment)***

The Company's statutory basis financial statements are hereby incorporated by reference to the Form N-

VPFS filed with the SEC by the Company on _______. You should consider the Company's financial

statements only as bearing on the Company's ability to meet its obligations under your Contract.

**APPENDIX A: ALLOCATION OPTIONS AVAILABLE UNDER THE CONTRACT**

**Note: If you surrender your Contract or take a withdrawal from any Allocation Option at any time**

**other than on or within 30 days after each sixth Contract Anniversary, we will apply a Market**

**Value Adjustment (which may be positive or negative) to the amount being surrendered or**

**withdrawn that exceeds the Annual Free Withdrawal Amount. A negative Market Value Adjustment**

**could significantly decrease the amount you receive from a withdrawal or surrender.**

**Risk Control Account Options**

The following is a list of the Risk Control Accounts currently available under the Contract. **The six-year**

**Interest Term is unavailable as a reallocation option if the Income Payout Date is less than six**

**years from the start of the Interest Term or if the length of time until a termination date required by**

**federal regulation is less than six years from the start of the Interest Term.**

We may change the features of the Risk Control Accounts listed below (including the Index, Floors, Cap

Rates, Participation Rates, Buffers, Boosts, and Dual Step Rates), offer new Risk Control Accounts, and

terminate existing Risk Control Accounts. If we add a Risk Control Account, you will not be able to

allocate your Contract Value to the new Risk Control Account until the start of the next available Interest

Term for that Risk Control Account. We will provide you with written notice before making any changes

other than changes to the current Cap Rates, Participation Rates, and Dual Step Rates. Information about

current Cap Rates, Participation Rates and Dual Step Rates is available at https://www.trustage.com/

zonechoice-advantage-annuity-rates.

**Note: For Contract Value allocated to a Risk Control Account, if you take a withdrawal, make a**

**Flex Transfer, surrender your Contract, die, or begin Income Payout Options, the amount**

**withdrawn or transferred before the expiration of an Interest Term is based on the Interim Value.**

**This may result in a significant reduction in your Contract Value that could exceed any protection**

**from Index loss that would be in place if you held the option until the end of the Interest Term.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RISK CONTROL ACCOUNT OPTIONS** | **RISK CONTROL ACCOUNT OPTIONS** | **RISK CONTROL ACCOUNT OPTIONS** | **RISK CONTROL ACCOUNT OPTIONS** | **RISK CONTROL ACCOUNT OPTIONS** |
| **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Floor with Participation Rate and Cap Rate** |
| *Index*<sup>(1)</sup> | *Type of Index* | *Crediting* <br>*Period*<sup>(2)</sup><br>| *Limit on Index Loss (if* <br>*held to the end of the* <br>*Crediting Period)*<br>| *Minimum Limit on Index* <br>*Gain (for the Life of the* <br>*Risk Control Account)*<br>|
| S&P 500 <br>Index<br>| Stock market index based <br>on market capitalizations of <br>500 leading companies <br>publicly traded in the U.S. <br>stock market.<br>| 1-Year | Floor: 0% to -10%<br>in 1% increments<br>| •Minimum Cap Rate: 1%<br>•Minimum Participation <br>Rate: 100%<br>|
| Dimensional <br>US Small <br>Cap<br>Value <br>Systematic <br>Index<br>| Stock market index that <br>invests within the smallest <br>8% of the US market down <br>to $100 million in market <br>capitalization with relative <br>prices in the lowest 40% <br>when ranked by price to <br>book.<br>| 1-Year | Floor: 0% to -10%<br>in 1% increments<br>| •Minimum Cap Rate: 1%<br>•Minimum Participation <br>Rate: 100%<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| Barclays <br>Risk <br>Balanced <br>Index<br>| Allocates between equities <br>and fixed income using the <br>principles of Modern <br>Portfolio Theory, which <br>seeks to maximize the <br>expected return based on a <br>given level of market risk.<br>| 1-Year | Floor: 0% to -10%<br>in 1% increments<br>| •Minimum Cap Rate: 1%<br>•Minimum Participation <br>Rate: 100%<br>|
| S&P 500 <br>Index<br>| Stock market index based <br>on market capitalizations of <br>500 leading companies <br>publicly traded in the U.S. <br>stock market.<br>| 6-Year | Floor: 0% | •Minimum Cap Rate: 10%<br>•Minimum Participation <br>Rate: 10%<sup>(3)</sup><br>|
| Dimensional <br>US Small <br>Cap<br>Value <br>Systematic <br>Index<br>| Stock market index that <br>invests within the smallest <br>8% of the US market down <br>to $100 million in market <br>capitalization with relative <br>prices in the lowest 40% <br>when ranked by price to <br>book.<br>| 6-Year | Floor: 0% | •Minimum Cap Rate: 10%<br>•Minimum Participation <br>Rate: 10%<sup>(3)</sup><br>|
| Barclays <br>Risk <br>Balanced <br>Index<br>| Allocates between equities <br>and fixed income using the <br>principles of Modern <br>Portfolio Theory, which <br>seeks to maximize the <br>expected return based on a <br>given level of market risk.<br>| 6-Year | Floor: 0% | •Minimum Cap Rate: 10%<br>•Minimum Participation <br>Rate: 10%<sup>(3)</sup><br>|
| **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** |
| *Index*<sup>(1)</sup> | *Type of Index* | *Crediting* <br>*Period*<sup>(2)</sup><br>| *Limit on Index Loss (if* <br>*held to the end of the* <br>*Crediting Period)*<br>| *Minimum Limit on Index* <br>*Gain (for the Life of the* <br>*Risk Control Account)*<br>|
| S&P 500 <br>Index<br>| Stock market index based <br>on market capitalizations of <br>500 leading companies <br>publicly traded in the U.S. <br>stock market.<br>| 1-Year | Buffer: <br>-10% and -20%<br>| •Minimum Cap Rate: 1%<br>•Minimum Participation <br>Rate: 100%<br>|
| Dimensional <br>US Small <br>Cap<br>Value <br>Systematic <br>Index<br>| Stock market index that <br>invests within the smallest <br>8% of the US market down <br>to $100 million in market <br>capitalization with relative <br>prices in the lowest 40% <br>when ranked by price to <br>book.<br>| 1-Year | Buffer: <br>-10% and -20%<br>| •Minimum Cap Rate: 1%<br>•Minimum Participation <br>Rate: 100%<br>|
| S&P 500 <br>Index<br>| Stock market index based <br>on market capitalizations of <br>500 leading companies <br>publicly traded in the U.S. <br>stock market.<br>| 6-Year | Buffer:<br>-10% and -20%<br>| •Minimum Cap Rate:10%<br>•Minimum Participation <br>Rate: 100%<br>|

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Dimensional <br>US Small <br>Cap<br>Value <br>Systematic <br>Index<br>| Stock market index that <br>invests within the smallest <br>8% of the US market down <br>to $100 million in market <br>capitalization with relative <br>prices in the lowest 40% <br>when ranked by price to <br>book.<br>| 6-Year | Buffer: <br>-10% and -20%<br>| •Minimum Cap Rate:10%<br>•Minimum Participation <br>Rate: 100%<br>|
| **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** |
| *Index*<sup>(1)</sup> | *Type of Index* | *Crediting* <br>*Period*<sup>(2)</sup><br>| *Limit on Index Loss (if* <br>*held to the end of the* <br>*Crediting Period)*<br>| *Minimum Limit on Index* <br>*Gain (for the Life of the* <br>*Risk Control Account)*<br>|
| S&P 500 <br>Index<br>| Stock market index based <br>on market capitalizations of <br>500 leading companies <br>publicly traded in the U.S. <br>stock market.<br>| 6-Year | Boost: <br>10% and 20%<br>| •Minimum Cap Rate:10%<br>•Minimum Participation <br>Rate: 100%<br>|
| Dimensional <br>US Small <br>Cap<br>Value <br>Systematic <br>Index <br>| Stock market index that <br>invests within the smallest <br>8% of the US market down <br>to $100 million in market <br>capitalization with relative <br>prices in the lowest 40% <br>when ranked by price to <br>book.<br>| 6-Year | Boost: <br>10% and 20%<br>| •Minimum Cap Rate:10%<br>•Minimum Participation <br>Rate: 100%<br>|
| **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** | **Risk Control Account Crediting Strategy: Buffer with Dual Step Rate** |
| *Index*<sup>(1)</sup> | *Type of Index* | *Crediting* <br>*Period*<sup>(2)</sup><br>| *Limit on Index Loss (if* <br>*held to the end of the* <br>*Crediting Period)*<br>| *Minimum Limit on Index* <br>*Gain (for the Life of the* <br>*Risk Control Account)*<br>|
| S&P 500 <br>Index<br>| Stock market index based <br>on market capitalizations of <br>500 leading companies <br>publicly traded in the U.S. <br>stock market.<br>| 6-Year | Buffer: <br>-10% and -20%<br>| Dual Step Rate: 10% |

---

<sup>(1)</sup> Exc ept for the Barclays Risk Balanced, the performance of each Index associated with the Risk

Control Accounts does not include dividends paid on the securities comprising the Index, and

therefore, the performance of the Index does not reflect the full performance of those underlying

securities. This will reduce Index performance and will cause the Index to underperform a direct

investment in the underlying securities. The Barclays Risk Balanced Index reinvests dividends but

deducts a fee of 0.5% for the equity exposure, and 0.2% per year for the treasury exposure, and a

cost equal to SOFR plus 0.1145% for the equity component. Therefore, the aggregate fee will depend

on the Index's relative allocations to the equity and treasury components from time to time, which are

determined by the volatility control mechanism. SOFR refers to the Secured Overnight Financing

Rate, which was 4.49% as of December 31, 2024. The New York Fed publishes the SOFR on its

website each Business Day. These deductions will reduce Index performance, and the Index will

underperform similar portfolios from which these fees and costs are not deducted.

<sup>(2)</sup> We credit interest to each Risk Control Account at the end of each Interest Term by comparing the

change in the Index from the first day of the Interest Term to the last day of the Interest Term.

Because Index interest is calculated on a single point in time you may experience negative or flat

performance even though the Index experienced gains through some, or most, of the Interest Term.

<sup>(3)</sup> For Contracts issued on or before May 1, 2026, the minimum Participation Rate for this Risk Control

Account is 100%.

**During the life of your Contract, the Fixed Account and a Risk Control Account with a 0% Floor, a**

**minimum 1% Cap Rate, and a minimum 100% Participation Rate will always be available.**

**Otherwise, we may add, change, or discontinue Allocation Options and Indices from time to time.**

**The remaining Allocation Options may have terms that are unacceptable to you and may not**

**provide any protection from Index losses, which could result in the loss of the entire amount of**

**your Contract Value.**

We may not always make available Risk Control Accounts with Buffers or Boosts. However, if we offer

one or more Risk Control Accounts with Buffers, an option with a Buffer of -10% or more will be available.

If we offer one or more Risk Control Accounts with Boosts, an option with a Boost of 10% or more will be

available. To the extent we make available other Risk Control Accounts with Cap Rates, Participation

Rates, or Dual Step Rates, we will apply the following minimum guarantees:

• The Cap Rate for Risk Control Accounts with one-year Interest Terms will be at least 1%.

• The Cap Rate for Risk Control Accounts with six-year Interest Terms will be at least 10%.

• The Dual Step Rate for six-year Interest Terms will be at least 10%.

• For Contracts issued on or before May 1, 2026, the Participation Rate will be at least 100%.

• For Contracts issued after May 1, 2026, the Participation Rate will be at least 10%.

More information about the Risk Control Accounts, the Market Value Adjustment, and the Interim Value

calculation is available under "<u>[Risk Control Account Option](#i88be85d061064e5e8bc8f6adf165b9b2_34)</u>s" and "<u>[Charges and Adjustments](#i88be85d061064e5e8bc8f6adf165b9b2_40)</u>."

**Discontinued Risk Control Account Options**

Existing Contract owners may have allocated funds to additional Risk Control Accounts that have been

discontinued. Discontinued Risk Control Accounts are not available for new or existing Contracts for any

new Interest Term that begins after the date set forth in the table below. For existing Contracts, at the end

of the current Interest Term, any funds in a discontinued Risk Control Account will be transferred to the

Fixed Account unless the owner elects otherwise on or before the end of the current Interest Term. Values

applied to the Fixed Account may earn a lower return than they would have earned in the discontinued

Risk Control Account.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Buffer with Participation Rate and Cap Rate** |
| *Index* | *Type of* <br>*Index*<br>| *Crediting* <br>*Period*<br>| *Limit on Index Loss (if* <br>*held to the end of the* <br>*Crediting Period)*<br>| *Minimum Limit on Index* <br>*Gain (for the Life of the Risk* <br>*Control Account)*<br>| *Date* <br>*Discontinued*<br>|
| Barclays Risk <br>Balanced <br>Index<br>| See table <br>above.<br>| 6-Year | Buffer: <br>-10% and -20%<br>| •Minimum Cap Rate:10%<br>•Minimum Participation <br>Rate: 100%<br>| May 1, 2026 |
| **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** | **Risk Control Account Crediting Strategy: Boost with Participation Rate and Cap Rate** |
| *Index* | *Type of* <br>*Index*<br>| *Crediting* <br>*Period*<br>| *Limit on Index Loss (if* <br>*held to the end of the* <br>*Crediting Period)*<br>| *Minimum Limit on Index* <br>*Gain (for the Life of the Risk* <br>*Control Account)*<br>| *Date* <br>*Discontinued*<br>|
| Barclays Risk <br>Balanced <br>Index<br>| See table <br>above. <br>| 6-Year | Boost:<br>10% and 20%<br>| •Minimum Cap Rate:10%<br>•Minimum Participation <br>Rate: 100%<br>| May 1, 2026 |

---

**Fixed Account**

The following is a list of Fixed Account Options currently available under the Contract. We may change

the features of the Fixed Account Options listed below, offer new Fixed Account Options, and terminate

existing Fixed Account Options. We will provide you with written notice before doing so.

---

| | |
|:---|:---|
| **Name** | **Term** |
| Fixed Account | 1 year<br>0.05%<sup>(1)</sup> |

---

<sup>(1)</sup> Full withdrawals or full surrenders from the Fixed Account are subject to a minimum nonforfeiture

value. See "<u>[Fixed Account Option](#i88be85d061064e5e8bc8f6adf165b9b2_31)</u>."

**APPENDIX B: STATE VARIATIONS OF CERTAIN FEATURES AND BENEFITS**

The following information is a summary of certain features or benefits of the TruStage<sup>TM</sup> ZoneChoice

Advantage Annuity Contracts that vary from the features and benefits previously described in this

Prospectus as a result of requirements imposed by states. Please contact your financial professional for

more information about Contract variations and availability in your state.

**States where the rate used in section b(3) of the minimum nonforfeiture rate calculation is 1.00%:**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Alaska | California | District of Columbia | Idaho | Kentucky |
| Louisiana | Maine | Massachusetts | Mississippi  | Missouri |
| New Jersey | New Mexico | Rhode Island | Tennessee  | Washington |
| West Virginia | Wisconsin | Wyoming |  |  |
| *See "<u>[Fixed Account Option](#i88be85d061064e5e8bc8f6adf165b9b2_31)</u>."* | *See "<u>[Fixed Account Option](#i88be85d061064e5e8bc8f6adf165b9b2_31)</u>."* | *See "<u>[Fixed Account Option](#i88be85d061064e5e8bc8f6adf165b9b2_31)</u>."* | *See "<u>[Fixed Account Option](#i88be85d061064e5e8bc8f6adf165b9b2_31)</u>."* | *See "<u>[Fixed Account Option](#i88be85d061064e5e8bc8f6adf165b9b2_31)</u>."* |

---

**States where other certain TruStage**<sup>TM</sup> **ZoneChoice Advantage Annuity features or benefits vary:**

---

| | | |
|:---|:---|:---|
| State | Feature or Benefit | Variation |
| California | See "<u>[Getting Started – The](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u> <br><u>[Accumulation Period – Right to](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u> <br><u>[Examine](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u>"<br>See "<u>[Charges and Adjustments -](#i1fb7707c06e94c4fb231f047b00966e0_99285)</u> <br><u>[Surrender Charge](#i1fb7707c06e94c4fb231f047b00966e0_99285)</u>"<br>| Your refund will be the greater of your <br>Contract Value or your Purchase Payment <br>less withdrawals. If you cancel the Contract, <br>the distribution is taxable as ordinary <br>income to the extent it exceeds your <br>investment in the Contract. <br>If your age as of the Contract Issue Date is <br>at least 60 years old, you must return your <br>Contract within 30 days of receipt.<br>For the Nursing Home or Hospital Waiver: <br>"Nursing Home or Hospital" is replaced with <br>"Facility Care, Home Care, or Community-<br>Based Services." There is no minimum <br>confinement period. This waiver and the <br>Terminal Illness waiver apply only to full <br>surrenders, not partial withdrawals. The <br>Owner or Annuitant must confined for at <br>least 180 consecutive days after the latter of <br>the Contract Issue Date or the date of <br>change of the Owner or Annuitant.<br>|
| Florida | See "<u>[Getting Started – The](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u> <br><u>[Accumulation Period – Right to](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u> <br><u>[Examine](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u>"<br>See <u>["](#i99a1b68b5c26471c99e67d5031db0b1e_13495)</u><u>[Income Payments – The Payout](#i99a1b68b5c26471c99e67d5031db0b1e_13495)</u> <br><u>[Period - Payout Date](#i99a1b68b5c26471c99e67d5031db0b1e_13495)</u><u>["](#i99a1b68b5c26471c99e67d5031db0b1e_13495)</u><br>| You must return your Contract within 21 <br>days of receipt (30 days if it is a <br>replacement contract).<br>The requested Income Payout Date must be <br>at least one year after the Contract Issue <br>Date.<br>|

---

---

| | | |
|:---|:---|:---|
| Massachusetts | See "<u>[Income Payments – The Payout](#i99a1b68b5c26471c99e67d5031db0b1e_13497)</u> <br><u>[Period - Terms of Income Payments](#i99a1b68b5c26471c99e67d5031db0b1e_13497)</u>"<br>See "<u>Other Information -</u> <u>[Misstatement](#i210d95b3f69743818434b3c1391b8d43_42310)</u> <br><u>[of Age or](#i210d95b3f69743818434b3c1391b8d43_42310)</u><u>Sex at Birth</u>"<br>| Income Options are not based on gender. <br>The amount of each payment depends on <br>all the items listed other than gender.<br>Only proof of age is required for <br>misstatement; proof of gender is not.<br>|
| Pennsylvania | See "<u>[Getting Started – The](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u> <br><u>[Accumulation Period – Right to](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u> <br><u>[Examine](#i5ec25b03111643d7ab6ba16b64e869eb_16224)</u>"<br>| You must return your Contract within 10 <br>days of receipt (30 days if it is an external <br>replacement contract and 45 days if it's an <br>internal replacement contract).<br>|

---

Registration statements relating to this offering have been filed with the Securities and Exchange

Commission ("SEC"). The Statement of Additional Information ("SAI") dated May ___, 2026 is part of a

registration statement filed on Form N-4. The SAI contains additional information about MEMBERS Life

Insurance Company and the Contracts. The SAI is available free of charge. You may request a copy of

the SAI or make inquiries regarding your Contract by writing to our Administrative Office at 2000 Heritage

Way, Waverly, Iowa 50677, or by calling 1-800-798-5500. This Prospectus and the SAI can also be

obtained from the SEC's website at www.sec.gov. The SAI is incorporated by reference into this

Prospectus.

ReportsandotherinformationaboutMEMBERS Life Insurance Company,includingtheSAI,may be

obtainedfromthe SEC's Internetsiteathttp://www.sec.govandcopiesofthisinformationmay alsobe

obtained,afterpayingaduplicatingfee,byemailingthe SEC at publicinfo@sec.gov.

**Dealer Prospectus Delivery Obligations**

All dealers that effect transactions in these securities are required to deliver a Prospectus.

EDGAR Contract Identifier: C000257765

------

**STATEMENT OF ADDITIONAL INFORMATION**

**May __, 2026**

**For**

**TRUSTAGE™ ZONECHOICE ADVANTAGE ANNUITY** 

**Offered by**

**MEMBERS LIFE INSURANCE COMPANY**

2000 Heritage Way

Waverly, Iowa 50677-9202

(800) 798-5500

This Statement of Additional Information ("SAI") is not a Prospectus. It should be read in conjunction with

the Prospectus for the TruStage™ ZoneChoice Advantage Annuity, a Single Purchase Payment Individual

Deferred Index-Linked Variable Annuity Contract (the "Contract"), dated May __, 2026 (as amended from

time to time). The Prospectus provides detailed information concerning the Contract, which is offered by

MEMBERS Life Insurance Company (the "Company," "we," "us," or "our"), and the Investment Options

available thereunder.

Capitalized terms used in this SAI that are not otherwise defined have the meanings set forth in the

Prospectus.

A copy of the Prospectus is available free of charge by writing to the Company's Administrative Office

(2000 Heritage Way, Waverly, Iowa 50677-9202), by calling 1-800-798-5500 toll free, or by contacting

your financial professional.

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [MEMBERS LIFE INSURANCE COMPANY](#i3f0dd8e02e264637a5e19057b2afecb0_7)............................................................................ | [S-1](#i3f0dd8e02e264637a5e19057b2afecb0_7) |
| [ADDITIONAL CONTRACT PROVISIONS](#i3f0dd8e02e264637a5e19057b2afecb0_71).............................................................................. | [S-1](#i3f0dd8e02e264637a5e19057b2afecb0_71) |
| [PRINCIPAL UNDERWRITER](#i3f0dd8e02e264637a5e19057b2afecb0_87)................................................................................................. | [S-8](#i3f0dd8e02e264637a5e19057b2afecb0_87) |
| [INCOME PAYMENTS](#i3f0dd8e02e264637a5e19057b2afecb0_103)............................................................................................................. | [S-8](#i3f0dd8e02e264637a5e19057b2afecb0_103) |
| [OTHER INFORMATION](#i3f0dd8e02e264637a5e19057b2afecb0_135)......................................................................................................... | [S-8](#i3f0dd8e02e264637a5e19057b2afecb0_135) |
| CUSTODIAN.......................................................................................................................... | S-9 |
| [EXPERTS](#i3f0dd8e02e264637a5e19057b2afecb0_167)............................................................................................................................... | [S-](#i3f0dd8e02e264637a5e19057b2afecb0_167)9 |
| [MEMBERS LIFE INSURANCE COMPANY FINANCIAL STATEMENTS](#i3f0dd8e02e264637a5e19057b2afecb0_195)............................... | [S-](#i3f0dd8e02e264637a5e19057b2afecb0_195)9 |
| CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS......................................... | [S-](#i3f0dd8e02e264637a5e19057b2afecb0_195)9 |

---

**MEMBERS LIFE INSURANCE COMPANY**

The depositor for the TruStage™ ZoneChoice Advantage Annuity, MEMBERS Life Insurance Company

(the "Company"), is a wholly-owned direct subsidiary of CMFG Life Insurance Company ("CMFG Life").

The Company was formed by CMFG Life on February 27, 1976, as a stock life insurance company under

the laws of the State of Wisconsin for the purpose of writing credit disability insurance. The original name

of the Company was CUDIS Insurance Society, Inc. On August 3, 1989, the Company's name changed to

CUMIS Life Insurance, Inc., and was subsequently changed to its current name on January 1, 1993.

League Life Insurance Company (Michigan) merged into the Company on January 1, 1992, and

MEMBERS Life Insurance Company (Texas) merged into the Company on January 1, 1993. The

Company re-domiciled from Wisconsin to Iowa on May 3, 2007. The Company is 100% owned by CMFG

Life. On February 17, 2012, the Company's Articles of Incorporation were amended and restated to

change the Company's purpose to be the writing of any and all of the lines of insurance and annuity

business authorized by Iowa Code Chapter 508 and any other line of insurance or annuity business

authorized by the laws of the State of Iowa. Currently, the Company has no employees.

CMFG Life is astock insurance company organized on May 20, 1935, and domiciled in Iowa.CMFG Life

is one of the world's largest direct underwriters of credit life and disability insurance, and is a major

provider of qualified pension products to credit unions. CMFG Life and its affiliated companies currently

offer deferred and immediate annuities, individual term and permanent life insurance, and accident and

health insurance. In 2012, CMFG Life was reorganized as a wholly-owned subsidiary of CUNA Mutual

Financial Group, Inc. which is a wholly-owned subsidiary of CUNA Mutual Holding Company, a mutual

insurance holding company organized under the laws of the State of Iowa.

The Company is authorized to sell life, health, and annuity policies in all states in the U.S. and the District

of Columbia, except New York. As of December 31, 2024 and 2023, the Company had more than $374

million and $387 million in admitted assets and more than $1,714 million and $989 million of life insurance

in force, respectively. Currently, the Company services existing blocks of individual and group life policies.

In addition, in August 2013, the Company began issuing a single premium deferred index annuity under

the name "MEMBERS<sup>®</sup> Zone Annuity." In July 2016, the Company began issuing a flexible premium

deferred variable and index-linked annuity contract under the name MEMBERS<sup>®</sup> Horizon Flexible

Premium Deferred Variable and Index Linked Annuity. In December 2018, the Company began issuing a

flexible premium variable and index-linked annuity contract under the name TruStage™ Horizon II Annuity

contract. In August 2019, the Company began issuing a single premium deferred index annuity under the

name TruStage™ Zone Income Annuity. In July 2021, the Company began issuing a single premium

deferred index annuity under the name TruStage™ ZoneChoice Annuity. In May 2025, the Company

began issuing a single purchase payment individual deferred index-linked variable annuity under the

name TruStage™ ZoneChoice Advantage Annuity. In September, 2025, the Company began issuing a

single purchase payment deferred index-linked annuity under the name TruStage™ ZoneChoice Income

Annuity.

**ADDITIONAL CONTRACT PROVISIONS** 

**The Contract**

The application, endorsements and all other attached papers are part of the Contract. The statements

made in the application are representations and not warranties. We will not use any statement in defense

of a claim or to void the Contract unless it is contained in the application.

**Calculating Interim Value**

The Interim Value for a Risk Control Account is equal to:

**Crediting Base x (hypothetical option value - amortized option cost – trading costs)**

The examples below show how the Interim Value is calculated and how it may vary based on whether the

reference Index has increased or decreased and how much time there is remaining in the Interest Term.

The hypothetical option value and trading costs in the examples are expressed as a percentage of the

Crediting Base. Interim Value is described in more detail in the Prospectus.

---

| | | |
|:---|:---|:---|
| **1-Year Interest Term Examples** | **Floor with Cap Rate** <br>**and Participation Rate**<br>| **Buffer with Cap Rate** <br>**and Participation Rate**<br>|
| Interest Term Start Date |  |  |
| Crediting Base | $100000 | $100000 |
| Index Value | 1000 | 1000 |
| Floor | -10.0% | N/A |
| Cap Rate | 12.0% | 14.0% |
| Participation Rate | 100.0% | 100.0% |
| Dual Step Rate | N/A | N/A |
| Buffer | N/A | -10.0% |
| Boost | N/A | N/A |
| Number of Days in Interest Term | 365 | 365 |
| Hypothetical Option Value | 4.11% | 4.01% |
| **Example A: Negative Index Return with Many Days Remaining in the Interest Term** | **Example A: Negative Index Return with Many Days Remaining in the Interest Term** | **Example A: Negative Index Return with Many Days Remaining in the Interest Term** |
| Interest Term Valuation Date |  |  |
| Index Value | 950 | 950 |
| Index Return | -5% | -5% |
| Days Remaining in Interest Term | 334 | 334 |
| Hypothetical Option Value | 0.91% | 0.79% |
| Amortized Option Value | 3.76% | 3.67% |
| Trading Costs | 0.15% | 0.15% |
| Interim Value | $97003.37 | $96971.70 |
| **Example B: Negative Index Return with Few Days Remaining in the Interest Term** | **Example B: Negative Index Return with Few Days Remaining in the Interest Term** | **Example B: Negative Index Return with Few Days Remaining in the Interest Term** |
| Interest Term Valuation Date |  |  |
| Index Value | 950 | 950 |
| Index Return | -5% | -5% |
| Days Remaining in Interest Term | 30 | 30 |
| Hypothetical Option Value | -4.06% | -0.39% |
| Amortized Option Value | 0.34% | 0.33% |
| Trading Costs | 0.15% | 0.15% |
| Interim Value | $95450.97 | $99133.15 |

---

---

| | | |
|:---|:---|:---|
| **1-Year Interest Term Examples** | **Floor with Cap Rate** <br>**and Participation Rate**<br>| **Buffer with Cap Rate** <br>**and Participation Rate**<br>|
| Interest Term Start Date |  |  |
| Crediting Base | $100000 | $100000 |
| Index Value | 1000 | 1000 |
| Floor | -10.0% | N/A |
| Cap Rate | 12.0% | 14.0% |
| Participation Rate | 100.0% | 100.0% |
| Dual Step Rate | N/A | N/A |
| Buffer | N/A | -10.0% |
| Boost | N/A | N/A |
| Number of Days in Interest Term | 365 | 365 |
| Hypothetical Option Value | 4.11% | 4.01% |
| **Example C: Positive Index Return with Many Days Remaining in the Interest Term** | **Example C: Positive Index Return with Many Days Remaining in the Interest Term** | **Example C: Positive Index Return with Many Days Remaining in the Interest Term** |
| Interest Term Valuation Date |  |  |
| Index Value | 1050 | 1050 |
| Index Return | 5% | 5% |
| Days Remaining in Interest Term | 334 | 334 |
| Hypothetical Option Value | 6.19% | 6.61% |
| Amortized Option Value | 3.76% | 3.67% |
| Trading Costs | 0.15% | 0.15% |
| Interim Value | $102276.76 | $102788.31 |
| **Example D: Positive Index Return with Few Days Remaining in the Interest Term** | **Example D: Positive Index Return with Few Days Remaining in the Interest Term** | **Example D: Positive Index Return with Few Days Remaining in the Interest Term** |
| Interest Term Valuation Date |  |  |
| Index Value | 1050 | 1050 |
| Index Return | 5% | 5% |
| Days Remaining in Interest Term | 30 | 30 |
| Hypothetical Option Value | 5.45% | 5.83% |
| Amortized Option Value | 0.34% | 0.33% |
| Trading Costs | 0.15% | 0.15% |
| Interim Value | $104962.45 | $105353.13 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **6-Year Interest Term** <br>**Examples**<br>| **Floor with Cap** <br>**Rate and** <br>**Participation Rate**<br>| **Buffer with Cap** <br>**Rate and** <br>**Participation Rate**<br>| **Boost with Cap** <br>**Rate and** <br>**Participation Rate**<br>| **Buffer with Dual** <br>**Step Rate**<br>|
| Interest Term Start Date | Interest Term Start Date |  |  |  |
| Crediting Base | $100000  | $100000 | $100000 | $100000 |
| Index Value | 1000 | 1000 | 1000 | 1000 |
| Floor | 0.0% | N/A | N/A | N/A |
| Cap Rate | Uncapped | Uncapped | Uncapped | N/A |
| Participation Rate | 80.0% | 115.0% | 110.0% | N/A |
| Dual Step Rate | N/A | N/A | N/A | 60.0% |
| Buffer | N/A | -10.0% | N/A | -10.0% |
| Boost | N/A | N/A | 10.0% | N/A |
| Number of Days in <br>Interest Term<br>| 2191 | 2191 | 2191 | 2191 |
| Hypothetical Option <br>Value<br>| 22.16% | 23.88% | 22.35% | 21.88% |
| **Example A: Negative Index Return with Many Days Remaining in the Interest Term** | **Example A: Negative Index Return with Many Days Remaining in the Interest Term** | **Example A: Negative Index Return with Many Days Remaining in the Interest Term** | **Example A: Negative Index Return with Many Days Remaining in the Interest Term** | **Example A: Negative Index Return with Many Days Remaining in the Interest Term** |
| Interest Term Valuation Date | Interest Term Valuation Date |  |  |  |
| Index Value | 950 | 950 | 950 | 950 |
| Index Return | -5% | -5% | -5% | -5% |
| Days Remaining in <br>Interest Term<br>| 2160 | 2160 | 2160 | 2160 |
| Hypothetical Option <br>Value<br>| 19.70% | 18.29% | 17.06% | 20.00% |
| Amortized Option <br>Value<br>| 21.85% | 23.55% | 22.03% | 21.57% |
| Trading Costs | 0.90% | 0.90% | 0.90% | 0.90% |
| Interim Value | $96959.30  | $93845.04 | $94127.94 | $97522.83 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Example B: Negative Index Return with Few Days Remaining in the Interest Term** | **Example B: Negative Index Return with Few Days Remaining in the Interest Term** | **Example B: Negative Index Return with Few Days Remaining in the Interest Term** | **Example B: Negative Index Return with Few Days Remaining in the Interest Term** | **Example B: Negative Index Return with Few Days Remaining in the Interest Term** |
| Interest Term Valuation Date | Interest Term Valuation Date |  |  |  |
| Index Value | 950 | 950 | 950 | 950 |
| Index Return | -5% | -5% | -5% | -5% |
| Days Remaining in <br>Interest Term<br>| 30 | 30 | 30 | 30 |
| Hypothetical Option <br>Value<br>| 0.15% | -0.36% | 5.17% | 48.01% |
| Amortized Option <br>Value<br>| 0.30% | 0.33% | 0.31% | 0.30% |
| Trading Costs | 0.15% | 0.15% | 0.15% | 0.15% |
| Interim Value | $99693.86  | $99164.71 | $104717.26 | $147562.60 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **6-Year Interest Term** <br>**Examples**<br>| **Floor with Cap** <br>**Rate and** <br>**Participation Rate**<br>| **Buffer with Cap** <br>**Rate and** <br>**Participation Rate**<br>| **Boost with Cap** <br>**Rate and** <br>**Participation Rate**<br>| **Buffer with Dual** <br>**Step Rate**<br>|
| Interest Term Start Date | Interest Term Start Date |  |  |  |
| Crediting Base | $100000  | $100000 | $100000 | $100000 |
| Index Value | 1000 | 1000 | 1000 | 1000 |
| Floor | 0.0% | N/A | N/A | N/A |
| Cap Rate | Uncapped | Uncapped | Uncapped | N/A |
| Participation Rate | 80.0% | 115.0% | 110.0% | N/A |
| Dual Step Rate | N/A | N/A | N/A | 60.0% |
| Buffer | N/A | -10.0% | N/A | -10.0% |
| Boost | N/A | N/A | 10.0% | N/A |
| Number of Days in <br>Interest Term<br>| 2191 | 2191 | 2191 | 2191 |
| Hypothetical Option <br>Value<br>| 22.16% | 23.88% | 22.35% | 21.88% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Example C: Positive Index Return with Many Days Remaining in the Interest Term** | **Example C: Positive Index Return with Many Days Remaining in the Interest Term** | **Example C: Positive Index Return with Many Days Remaining in the Interest Term** | **Example C: Positive Index Return with Many Days Remaining in the Interest Term** | **Example C: Positive Index Return with Many Days Remaining in the Interest Term** |
| Interest Term Valuation Date | Interest Term Valuation Date |  |  |  |
| Index Value | 1050 | 1050 | 1050 | 1050 |
| Index Return | 5% | 5% | 5% | 5% |
| Days Remaining in <br>Interest Term<br>| 2160 | 2160 | 2160 | 2160 |
| Hypothetical Option <br>Value<br>| 24.03% | 28.97% | 27.21% | 24.17% |
| Amortized Option <br>Value<br>| 21.85% | 23.55% | 22.03% | 21.57% |
| Trading Costs | 0.90% | 0.90% | 0.90% | 0.90% |
| Interim Value | $101285.37  | $104527.56 | $104276.80 | $101691.10 |
| **Example D: Positive Index Return with Few Days Remaining in the Interest Term** | **Example D: Positive Index Return with Few Days Remaining in the Interest Term** | **Example D: Positive Index Return with Few Days Remaining in the Interest Term** | **Example D: Positive Index Return with Few Days Remaining in the Interest Term** | **Example D: Positive Index Return with Few Days Remaining in the Interest Term** |
| Interest Term Valuation Date | Interest Term Valuation Date |  |  |  |
| Index Value | 1050 | 1050 | 1050 | 1050 |
| Index Return | 5% | 5% | 5% | 5% |
| Days Remaining in <br>Interest Term<br>| 30 | 30 | 30 | 30 |
| Hypothetical Option <br>Value<br>| 4.61% | 6.78% | 9.57% | 56.42% |
| Amortized Option <br>Value<br>| 0.30% | 0.33% | 0.31% | 0.30% |
| Trading Costs | 0.15% | 0.15% | 0.15% | 0.15% |
| Interim Value | $104160.31  | $106306.64 | $109111.11 | $155974.99 |

---

**Surrender Charge and Market Value Adjustment Examples**

The following are examples of partial withdrawals and full surrender with the application of the Surrender

Charge and Market Value Adjustment. These charges and adjustments are described in more detail in the

Prospectus.

***Surrender Charge.*** The Surrender Charge is calculated as a percentage of the Contract Value withdrawn

or surrendered that exceeds the Annual Free Withdrawal Amount during the first six Contract Years.

***Market Value Adjustment Calculation. Market Value Adjustment Calculation.*** The Market Value

Adjustment reflects, in part, the difference in yield of the Constant Maturity Treasury rate for a six-year

period beginning on the Contract Issue Date or every sixth Contract Anniversary and the yield of the

Constant Maturity Treasury rate for a period starting on the date of withdrawal to the end of the six-year

period. The Constant Maturity Treasury rate is a rate representing the average yield of various Treasury

securities. The calculation also reflects in part the difference between the effective yield of the ICE BofA

1-10 Year US Corporate Constrained Index, Asset Swap Spread (the "ICE BofA Index"), a rate

representative of investment grade corporate debt credit spreads in the U.S., at the start of the rolling six-

year period and the effective yield of the ICE BofA Index at the time of withdrawal. The greater the

difference in those yields, respectively, the greater the effect theMarket Value Adjustment will have.

On any Business Day, the Market Value Adjustment is calculated by multiplying the amount withdrawn in

excess of the Annual Free Withdrawal Amount by the sum of the Market Value Adjustment factor (MVAF)

minus one (i.e., MVAF – 1), where MVAF is equal to the following formula:

MVAF = ((1 + I + K)/(1 + J + L))^N, where

I = The Constant Maturity Treasury rate as of the start of the rolling six-year period beginning on

the Contract Issue Date for a maturity of six years.

J = The Constant Maturity Treasury rate as of the date of withdrawal for a maturity consistent with

the remaining number of years (whole and partial) in the six-year rolling period beginning on

the Contract Issue Date, resetting every sixth Contract Anniversary.

K = The ICE BofA 1-10 Year US Corporate Constrained Index as of the start of the six-year rolling

period beginning on the Contract Issue Date, resetting every sixth Contract Anniversary.

L = The ICE BofA 1-10 Year US Corporate Constrained Index as of the date of withdrawal.

N = The number of years (whole and partial) from the date of withdrawal until the end of the six-

year rolling period beginning on the Contract Issue Date, resetting every sixth Contract

Anniversary.

We determine "I" based on the 6-year Constant Maturity Treasury rate at the start of the six-year

rolling period beginning on the Contract Issue Date, resetting every sixth Contract Anniversary.

We determine "J" when you take a withdrawal. For example, if you surrender the Contract two

years after the start of the six-year rolling period, "J" would correspond to the Constant Maturity

Treasury rate consistent with the time remaining in the six-year period of four years (4 = 6 – 2).

For "I" and "J" where there is no Constant Maturity Treasury rate declared, we will use linear

interpolation of the Constant Maturity Rates Index with maturities closest to "I" and "J" to

determine "I" and "J".

The value of "K" and "L" on any Business Day will be equal to the closing value of the I ICE BofA

1-10 Year US Corporate Constrained Index on the previous Business Day.

The Company uses both the Constant Maturity Treasury rate and ICE BofA Index in determining any

Market Value Adjustment since together both indices represent a broad mix of investments whose values

may be affected by changes in market interest rates. If the publication of any component of the Market

Value Adjustment indices is discontinued or if the calculation of the Market Value Adjustment indices is

changed substantially, we may substitute a new index for the discontinued or substantially changed index,

subject to approval by the insurance department in your state. Before we substitute a Market Value

Adjustment index, we will notify you in writing of the substitution.The Market Value Adjustment is

calculated by multiplying the amount withdrawn by the sum of the Market Value Adjustment factor (MVAF)

minus one (i.e., MVAF – 1), where MVAF is equal to ((1 + I + K)/(1 + J + L))^N.

The Market Value Adjustment does not apply to the Annual Free Withdrawal amount.

The examples below show how the Market Value Adjustment is calculated and how it may vary based on

how the Constant Maturity Treasury (CMT) Rate and the ICE BofA Index have changed since the start of

the 6-year Market Value Adjustment period. The examples also show how the surrender charge is

calculated.

---

| | |
|:---|:---|
| **Assumptions** |  |
| Withdrawal on 2<sup>nd</sup> Contract Anniversary | $20000 |
| Contract Value on 2<sup>nd</sup> Contract Anniversary | $110000 |
| Contract Value after Withdrawal | $110,000 - $20,000 = $90,000 |
| Annual Free Withdrawal Amount | $110,000 x 10% = $11,000 |
| Surrender Charge Percentage | 8% |
| Surrender Charge | 8% x ($20,000 - $11,000) = $720 |
| 6-year CMT Rate (I) at Start of 6-year Period | 2.50% |
| ICE BofA Index (K) at Start of 6-year Period | 1.00% |
| Years Remaining in 6-Year Period (N) | 6 - 2 = 4 |
| **Example A: Withdrawal with a Negative Market Value Adjustment** | **Example A: Withdrawal with a Negative Market Value Adjustment** |
| CMT Rate for the remaining Index period (J) | 2.90% |
| ICE BofA Index at time of Withdrawal (L) | 1.10% |
| MVAF = ((1 + I + K)/(1 + J + L))^N | ((1 + 2.50% + 1.00%) / (1 + 2.90% + 1.10%))^4 <br>= 0.9809075<br>|
| Market Value Adjustment | ($20,000 - $11,000) x (0.9809075 - 1) = <br>-$171.83<br>|
| Net Withdrawal | $20,000 - $720 +(-$171.83) = $19,108.17 |
| **Example B: Withdrawal with a Positive Market Value Adjustment** | **Example B: Withdrawal with a Positive Market Value Adjustment** |
| CMT for the remaining Index period (J) | 2.10% |
| ICE BofA Index at time of Withdrawal (L) | 0.90% |
| MVAF = ((1 + I + K)/(1 + J + L))^N | ((1 + 2.50% + 1.00%) / (1 + 2.10% + 0.90%))^4 <br>= 1.0195593<br>|
| Market Value Adjustment | ($20,000 - $11,000) x (1.0195593 - 1) = $176.03 |
| Net Withdrawal | $20,000 - $720 + $176.03 = $19,456.03 |

---

**PRINCIPAL UNDERWRITER**

CUNA Brokerage Services, Inc. ("CBSI") serves as principal underwriter (or distributor) for the Contract.

CBSI is a Wisconsin corporation and its home office is located at 2000 Heritage Way, Waverly, Iowa

50677. CBSI is our indirect, wholly-owned subsidiary, and is registered as a broker-dealer with the

Securities and Exchange Commission ("SEC") under the Securities Exchange Act of 1934, as amended,

as well as with the securities commissions in the states in which it operates, and is a member of the

Financial Industry Regulatory Authority, Inc.

CBSI enters into selling agreements with other broker-dealers ("selling firms") and compensates them for

their services. Registered representatives of other selling firms are appointed as our insurance agents.

CBSI also offered securities to customers through CBSI registered representatives until May of 2022. The

majority of these former CBSI registered representatives, which primarily include employees of CBSI's

affiliates or the credit union where their FINRA registered branch is located, registered with LPL Financial

LLC ("LLP") through an agreement with CBSI. LPL is one of the selling firms.

Selling firms pay their registered representatives a portion of the commissions received for their sales of

the Contract. Registered representatives may also be eligible for various cash benefits and non-cash

compensation programs, such as conferences, seminars and trips (including travel, lodging and meals in

connection therewith), entertainment, merchandise and other similar items, where sales of the Contract

help such registered representatives qualify. We may pay certain selling firms additional amounts for

promoting the Contract and/or educating their registered representatives about the Contract. These

additional payments are not offered to all selling firms, and the terms of any particular agreement

governing the payments may vary among selling firms.

CBSI received sales compensation with respect to the Contracts in the following amounts during the

periods indicated: ***(to be updated by amendment)***

---

| | | |
|:---|:---|:---|
| Fiscal <br>Year<br>| Aggregate Amount of Commissions<br>Paid to CBSI<br>| Aggregate Amount of Commissions <br>Retained by CBSI After Payments to its <br>Registered Persons and Selling Firms<br>|
| 2025 |  |  |
| 2024 | None | None |

---

In addition to the compensation paid for sales of the Contracts, we pay compensation when an Owner

annuitizes all or a portion of his or her Contract and elects a life contingent annuity payout after the first

Contract Year.

**INCOME PAYMENTS** 

We use fixed rates of interest to determine the amount of income payments payable under the Income

Payout Options. Income Payout Options offered under your Contract are described in the "Income Payout

Options" in the Prospectus. Income Payout Options on a variable basis are not offered under your

Contract.

**OTHER INFORMATION**

A registration statement on Form N-4 (the "Registration Statement") has been filed with the SEC under

the Securities Act of 1933, as amended, with respect to the Contract discussed in this SAI. Not all the

information set forth in the Registration Statement, amendments and exhibits thereto has been included in

this SAI. Statements contained in this SAI concerning the content of the Contract and other legal

instruments are intended to be summaries. For a complete statement of the terms of these documents,

reference should be made to the Prospectus filed with the SEC.

**CUSTODIAN**

Not applicable.

**EXPERTS *(to be updated by amendment)***

The statutory basis financial statements of MEMBERS Life Insurance Company, incorporated by

reference in the Registration Statement, have been audited by _____, an independent auditor, as stated

in their report. Such report expresses an unmodified opinion on such financial statements prepared in

accordance with the accounting practices prescribed or permitted by the Iowa Department of Commerce,

Insurance Division; and which expresses an adverse opinion that the statutory basis financial statements

are not fairly presented in accordance with accounting principles generally accepted in the United States

of America as the variances between the statutory basis of accounting and accounting principles

generally accepted in the United States of America, although not reasonably determinable, are presumed

to be material and pervasive. Such financial statements are incorporated by reference in reliance upon

the report of such firm given their authority as experts in accounting and auditing.

The principal business address of _____.

**MEMBERS LIFE INSURANCE COMPANY FINANCIAL STATEMENTS *(to be updated by amendment)***

The Company's statutory basis financial statements are hereby incorporated by reference to the Form N-

VPFS filed with the SEC by the Company on ____, 2026. You should consider the Company's financial

statements only as bearing on the Company's ability to meet its obligations under your Contract.

**CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS**

None

------

**PART C**

**OTHER INFORMATION**

**Item 27. Exhibits.**

---

| | | | |
|:---|:---|:---|:---|
| **Exhibit Item** <br>**Number**<br>| **<u>Description</u>** | **Incorporated by Reference to** | **Filed** <br>**Herewith**<br>|
| (a) | Board of Directors Resolution. | Board of Directors Resolution. | Board of Directors Resolution. |
| (a)(1) | [Resolutions of the Board of Directors](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/trustagezonechoiceadvantagc.htm)<br>[of MEMBERS Life Insurance Company](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/trustagezonechoiceadvantagc.htm)<br>[("MLIC") authorizing the establishment](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/trustagezonechoiceadvantagc.htm)<br>[of the TruStage ZoneChoice](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/trustagezonechoiceadvantagc.htm)<br>[Advantage Annuity (the "Registrant")](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/trustagezonechoiceadvantagc.htm)<br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/trustagezonechoiceadvantagc.htm)</u> <br><u>[the Pre-Effective Amendment No. 1](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/trustagezonechoiceadvantagc.htm)</u> <br><u>[of the Registrant on Form N-4, filed](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/trustagezonechoiceadvantagc.htm)</u> <br><u>[April 10, 2025 (File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/trustagezonechoiceadvantagc.htm)</u><br>|  |
| (b) | Custodian Agreements - Not Applicable. | Custodian Agreements - Not Applicable. | Custodian Agreements - Not Applicable. |
| (c) | Underwriting Contracts.  | Underwriting Contracts.  | Underwriting Contracts.  |
| (c)(1) | <u>[Amended and Restated Distribution](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c1_amendandrestateddistrbu.htm)</u><br><u>[Agreement dated as of January 7,](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c1_amendandrestateddistrbu.htm)</u><br><u>[2016 between MLIC and CUNA](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c1_amendandrestateddistrbu.htm)</u><br><u>[Brokerage Services, Inc. ("CBSI")](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c1_amendandrestateddistrbu.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c1_amendandrestateddistrbu.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c1_amendandrestateddistrbu.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c1_amendandrestateddistrbu.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c1_amendandrestateddistrbu.htm)</u><br>|  |
| (c)(2) | <u>[Form of Selling and Services](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c2_sellingandservicingagre.htm)</u><br><u>[Agreement](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c2_sellingandservicingagre.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c2_sellingandservicingagre.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c2_sellingandservicingagre.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c2_sellingandservicingagre.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c2_sellingandservicingagre.htm)</u><br>|  |
| (c)(3) | <u>[Addendum to Selling and Service](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c3_addendumtosellingands.htm)</u><br><u>[Agreement for Electronic Signature](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c3_addendumtosellingands.htm)</u><br><u>[Agreement dated August 27, 2020](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c3_addendumtosellingands.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c3_addendumtosellingands.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c3_addendumtosellingands.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c3_addendumtosellingands.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c3_addendumtosellingands.htm)</u><br>|  |
| (c)(4) | <u>[Amended and Restated Expense](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c4_amendandrestatedexpense.htm)</u><br><u>[Sharing Agreement dated January 1,](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c4_amendandrestatedexpense.htm)</u><br><u>[2015.](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c4_amendandrestatedexpense.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c4_amendandrestatedexpense.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c4_amendandrestatedexpense.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c4_amendandrestatedexpense.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c4_amendandrestatedexpense.htm)</u><br>|  |
| (c)(5) | <u>[Amended and Restated Distribution](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c5_amendedandrestateddistr.htm)</u><br><u>[Agreement – Exhibit A dated](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c5_amendedandrestateddistr.htm)</u><br><u>[September 2018 between MLIC and](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c5_amendedandrestateddistr.htm)</u><br><u>[CBSI](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c5_amendedandrestateddistr.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c5_amendedandrestateddistr.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c5_amendedandrestateddistr.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c5_amendedandrestateddistr.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/c5_amendedandrestateddistr.htm)</u><br>|  |
| (d) | Contracts.  | Contracts.  | Contracts.  |
| (d)(1) | <u>[Form of Contact. (Form No. ICC24-](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d1_zonechoiceadvantageco.htm)</u><br><u>[ILVA)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d1_zonechoiceadvantageco.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d1_zonechoiceadvantageco.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d1_zonechoiceadvantageco.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d1_zonechoiceadvantageco.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d1_zonechoiceadvantageco.htm)</u><br>|  |
| (d)(2) | <u>[Form of Data Page. (Form No. ICC24-](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d2_zonechoiceadvantageda.htm)</u><br><u>[ILVA-DP)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d2_zonechoiceadvantageda.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d2_zonechoiceadvantageda.htm)</u><br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d2_zonechoiceadvantageda.htm)</u><br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d2_zonechoiceadvantageda.htm)</u><br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d2_zonechoiceadvantageda.htm)</u><br>|  |
| (d)(3) | <u>[Form of Post-Death Annuity Exchange](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d3_post-deathannexchange.htm)</u><br><u>[Endorsement (Form No. ICC24-](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d3_post-deathannexchange.htm)</u><br><u>[PDAE-END)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d3_post-deathannexchange.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d3_post-deathannexchange.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d3_post-deathannexchange.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d3_post-deathannexchange.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d3_post-deathannexchange.htm)</u><br>|  |
| (d)(4) | <u>[Form of Nursing Home or Hospital/](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d4_nursinghomexhospitale.htm)</u><br><u>[Terminal Illness Withdrawal Privilege](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d4_nursinghomexhospitale.htm)</u><br><u>[Endorsement (Form No. ICC24-](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d4_nursinghomexhospitale.htm)</u><br><u>[WVRSC-END)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d4_nursinghomexhospitale.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d4_nursinghomexhospitale.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d4_nursinghomexhospitale.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d4_nursinghomexhospitale.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/d4_nursinghomexhospitale.htm)</u><br>|  |

---

---

| | | |
|:---|:---|:---|
| (e) | Applications. | Applications. |
| (e)(1) | <u>[Form of Application. (Form No. ICC24-](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e1_zonechoiceadvantageap.htm)</u><br><u>[ILVA-APP)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e1_zonechoiceadvantageap.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e1_zonechoiceadvantageap.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e1_zonechoiceadvantageap.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e1_zonechoiceadvantageap.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e1_zonechoiceadvantageap.htm)</u><br>|
| (e)(2) | <u>[Form of Application-Amendment.](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e2_amendtoapplicationxic.htm)</u><br><u>[(Form No. ICC24-APP-AMEND)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e2_amendtoapplicationxic.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e2_amendtoapplicationxic.htm)</u><br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e2_amendtoapplicationxic.htm)</u><br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e2_amendtoapplicationxic.htm)</u><br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/e2_amendtoapplicationxic.htm)</u><br>|
| (f) | Insurance Company's Certificate of Incorporation and By-Laws. | Insurance Company's Certificate of Incorporation and By-Laws. |
| (f)(1) | <u>[Articles of Incorporation of MLIC](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f1_mlic-articlesofincorp.htm)</u> | <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f1_mlic-articlesofincorp.htm)</u><br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f1_mlic-articlesofincorp.htm)</u><br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f1_mlic-articlesofincorp.htm)</u><br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f1_mlic-articlesofincorp.htm)</u><br>|
| (f)(2) | <u>[Bylaws of MLIC](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f2_mlicbylawsadopted201512.htm)</u> | <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f2_mlicbylawsadopted201512.htm)</u><br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f2_mlicbylawsadopted201512.htm)</u><br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f2_mlicbylawsadopted201512.htm)</u><br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/f2_mlicbylawsadopted201512.htm)</u><br>|
| (g) | Reinsurance Contracts. | Reinsurance Contracts. |
| (g)(1) | <u>[Amended and Restated Coinsurance](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2_amendandrestatedcoins.htm)</u><br><u>[and Modified Coinsurance Agreement](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2_amendandrestatedcoins.htm)</u><br><u>[between MLIC and CMFG Life](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2_amendandrestatedcoins.htm)</u><br><u>[Insurance Company (CMFG Life)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2_amendandrestatedcoins.htm)</u><br><u>[dated January 1, 2019](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2_amendandrestatedcoins.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2_amendandrestatedcoins.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2_amendandrestatedcoins.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2_amendandrestatedcoins.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2_amendandrestatedcoins.htm)</u><br>|
| (g)(2) | <u>[Coinsurance Agreement dated August](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g1_coinsuranceagreementc.htm)</u><br><u>[19, 2019](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g1_coinsuranceagreementc.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g1_coinsuranceagreementc.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g1_coinsuranceagreementc.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g1_coinsuranceagreementc.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g1_coinsuranceagreementc.htm)</u><br>|
| (g)(2)(a) | <u>[Amended and Restated Coinsurance](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2a_amendedandrestatedco.htm)</u><br><u>[and Modified Coinsurance Agreement](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2a_amendedandrestatedco.htm)</u><br><u>[between MLIC and CMFG Life dated](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2a_amendedandrestatedco.htm)</u><br><u>[February 4, 2021](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2a_amendedandrestatedco.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2a_amendedandrestatedco.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2a_amendedandrestatedco.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2a_amendedandrestatedco.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2a_amendedandrestatedco.htm)</u><br>|
| (g)(2)(b) | <u>[Second Amendment to Amended and](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2b_executedsecondamendm.htm)</u><br><u>[Restated Coinsurance and Modified](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2b_executedsecondamendm.htm)</u><br><u>[Coinsurance Agreement dated](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2b_executedsecondamendm.htm)</u><br><u>[November 23, 2021](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2b_executedsecondamendm.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2b_executedsecondamendm.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2b_executedsecondamendm.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2b_executedsecondamendm.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2b_executedsecondamendm.htm)</u><br>|
| (g)(2)(c) | <u>[Third Amendment to Amended and](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2c_thirdamend-amendedan.htm)</u><br><u>[Restated Coinsurance and Modified](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2c_thirdamend-amendedan.htm)</u><br><u>[Coinsurance Agreement dated October](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2c_thirdamend-amendedan.htm)</u><br><u>[10, 2022](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2c_thirdamend-amendedan.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2c_thirdamend-amendedan.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2c_thirdamend-amendedan.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2c_thirdamend-amendedan.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2c_thirdamend-amendedan.htm)</u><br>|
| (g)(2)(d) | <u>[Fourth Amendment to Amended and](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2d_fourthamendmentcmfgl.htm)</u> <br><u>[Restated Coinsurance and Modified](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2d_fourthamendmentcmfgl.htm)</u> <br><u>[Coinsurance Agreement dated April](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2d_fourthamendmentcmfgl.htm)</u> <br><u>[17, 2023](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2d_fourthamendmentcmfgl.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2d_fourthamendmentcmfgl.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2d_fourthamendmentcmfgl.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2d_fourthamendmentcmfgl.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g2d_fourthamendmentcmfgl.htm)</u><br>|
| (g)(2)(e) | <u>[Fifth Amendment to Amended and](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000243/g2f-2025523firstamendmentt.htm)</u><br><u>[Restate Coinsurance and Modified](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000243/g2f-2025523firstamendmentt.htm)</u><br><u>[Coinsurance Agreement dated March](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000243/g2f-2025523firstamendmentt.htm)</u><br><u>[6, 2025.](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000243/g2f-2025523firstamendmentt.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000243/g2f-2025523firstamendmentt.htm)</u> <br><u>[the Pre-Effective Amendment No. 1](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000243/g2f-2025523firstamendmentt.htm)</u> <br><u>[of the Registrant on Form N-4, filed](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000243/g2f-2025523firstamendmentt.htm)</u> <br><u>[September 29, 2025 (File No.](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000243/g2f-2025523firstamendmentt.htm)</u> <br><u>[333-288103)](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000243/g2f-2025523firstamendmentt.htm)</u><br>|
| (g)(4) | <u>[Cost Sharing Agreement dated as of](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g4_costsharingagreement2.htm)</u><br><u>[January 1, 2008](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g4_costsharingagreement2.htm)</u><br>| <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g4_costsharingagreement2.htm)</u> <br><u>[the initial filing of the Registrant on](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g4_costsharingagreement2.htm)</u> <br><u>[Form N-4, filed December 6, 2024](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g4_costsharingagreement2.htm)</u> <br><u>[(File No. 333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257724000039/g4_costsharingagreement2.htm)</u><br>|

---

---

| | | |
|:---|:---|:---|
| (h) | Participation Agreements - Not Applicable | Participation Agreements - Not Applicable |
| (i) | Administrative Contracts - Not Applicable | Administrative Contracts - Not Applicable |
| (j) | Other Material Contracts - Not Applicable | Other Material Contracts - Not Applicable |
| (k) | Legal Opinion | Legal Opinion |
| (k)(1) | Legal Opinion of Britney Schnathorst | *to be updated by amendment* |
| (l) | Other Opinions. | Other Opinions. |
| (l) | Consent of Independent Auditor | *to be updated by amendment* |
| (m) | Omitted Financial Statements - Not Applicable | Omitted Financial Statements - Not Applicable |
| (n) | Initial Capital Agreements - Not Applicable | Initial Capital Agreements - Not Applicable |
| (o) | Form of Initial Summary Prospectus | *to be updated by amendment* |
| (p) | Power of Attorney. | Power of Attorney. |
| (p)(1) | <u>[Powers of Attorney](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/a2025mlicpowersofattorney_.htm)</u> | <u>[Incorporated herein by reference to](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/a2025mlicpowersofattorney_.htm)</u><br><u>[the Pre-Effective Amendment No. 1](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/a2025mlicpowersofattorney_.htm)</u><br><u>[of the Registrant on Form N-4, filed](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/a2025mlicpowersofattorney_.htm)</u><br><u>[April 10, 2025 (File No.](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/a2025mlicpowersofattorney_.htm)</u><br><u>[333-283638)](https://www.sec.gov/Archives/edgar/data/1562577/000156257725000149/a2025mlicpowersofattorney_.htm)</u><br>|
| (q) | Letter Regarding Change in Certifying Accountant - Not applicable | Letter Regarding Change in Certifying Accountant - Not applicable |
| (r) | Historical Current Limits on Index Gains – Not applicable | Historical Current Limits on Index Gains – Not applicable |

---

**Item 28. Directors and Officers of the Insurance Company.**

Set forth below is information regarding the directors and principal officers of MLIC. Unless otherwise

noted, the business address of each person below is: 5910 Mineral Point Road, Madison, Wisconsin

53705. ---

| | |
|:---|:---|
| **Name** | **Positions and Officers with Depositor** |
| Tammy L. Schultz<sup>(2)</sup> | President and Director |
| Brian J. Borakove<sup>(1)</sup> | Treasurer |
| Paul D. Barbato<sup>(1)</sup> | Secretary and Director |
| Jennifer M. Kraus-Florin<sup>(1)</sup> | Director |
| Abigail R. Rodriguez<sup>(1)</sup> | Director |
| William A. Karls<sup>(1)</sup> | Director |

---

<sup>(1)</sup> 5910 Mineral Point Road, Madison, Wisconsin 53705

<sup>(2)</sup> 440 Mt. Rushmore Road, Rapid City, South Dakota 57701

**Item 29. Persons Controlled by or Under Common Control with the Insurance Company**

MLIC is a wholly-owned direct subsidiary of CMFG Life Insurance Company ("CMFG Life"). MLIC is a

stock life insurance company organized under the laws of the State of Iowa for the purpose of writing any

and all of the lines of insurance and annuity business authorized by Iowa Code Chapter 508 and any other

line of insurance or annuity business authorized by the laws of the State of Iowa.

Various companies and other entities are controlled by CMFG Life and may be considered to be under

common control with MLIC. Such other companies and entities, together with the identity of their

controlling persons (where applicable), are set forth on the following organization charts.

CUNA Mutual Holding Company Organizational Chart

As of February 28, 2025 ***(to be updated by amendment)***

CUNA Mutual Holding Company is a mutual insurance holding company, and as such is controlled by its

policy owners. CUNA Mutual Holding Company was formed under the Plan of Reorganization of CMFG

Life Insurance Company. CUNA Mutual Holding Company, either directly or indirectly, is the controlling

company of the following wholly-owned subsidiaries:

TruStage Financial Group, Inc.

State of domiciled: Iowa

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Entity | Entity | Entity | Ownership |
| 1. | CUNA Mutual Global Holdings, Inc.<br>State of domicile: Iowa | CUNA Mutual Global Holdings, Inc.<br>State of domicile: Iowa | CUNA Mutual Global Holdings, Inc.<br>State of domicile: Iowa | 25.58% TruStage <br>Financial Group, Inc.<br>74.42% CMFG Life <br>Insurance Company<br>|
| 2. | TruStage Ventures, LLC<br>State of domicile: Iowa | TruStage Ventures, LLC<br>State of domicile: Iowa | TruStage Ventures, LLC<br>State of domicile: Iowa | 100% |
|  |  | Happy Monday Holdings, Inc.<br>State of domicile: Delaware | Happy Monday Holdings, Inc.<br>State of domicile: Delaware | 46.6% |
|  |  | 1. | Happy Money, Inc.<br>State of domicile: Delaware<br>| 100% |
| 3. | SafetyNet Insurance Agency, LLC<br>State of domicile: Iowa | SafetyNet Insurance Agency, LLC<br>State of domicile: Iowa | SafetyNet Insurance Agency, LLC<br>State of domicile: Iowa | 100% |
| 4. | TruStage Ventures Discovery Fund, LLC<br>State of domicile: Iowa | TruStage Ventures Discovery Fund, LLC<br>State of domicile: Iowa | TruStage Ventures Discovery Fund, LLC<br>State of domicile: Iowa | 100% |
| 5. | CMFG Life Insurance Company<br>State of domicile: Iowa | CMFG Life Insurance Company<br>State of domicile: Iowa | CMFG Life Insurance Company<br>State of domicile: Iowa | 100% |
|  | CMFG Life Insurance Company, either directly or indirectly, is the controlling company of the<br>following wholly-owned subsidiaries, all of which are included in the CMFG Life Insurance<br>Company's consolidated financial statements: | CMFG Life Insurance Company, either directly or indirectly, is the controlling company of the<br>following wholly-owned subsidiaries, all of which are included in the CMFG Life Insurance<br>Company's consolidated financial statements: | CMFG Life Insurance Company, either directly or indirectly, is the controlling company of the<br>following wholly-owned subsidiaries, all of which are included in the CMFG Life Insurance<br>Company's consolidated financial statements: | CMFG Life Insurance Company, either directly or indirectly, is the controlling company of the<br>following wholly-owned subsidiaries, all of which are included in the CMFG Life Insurance<br>Company's consolidated financial statements: |
|  | A. | CUNA Mutual Investment Corporation owns the following:<br>State of domicile: Wisconsin | CUNA Mutual Investment Corporation owns the following:<br>State of domicile: Wisconsin | 100% |
|  |  | CUMIS Insurance Society, Inc. owns the following:<br>State of domicile: Iowa | CUMIS Insurance Society, Inc. owns the following:<br>State of domicile: Iowa | 100% |
|  |  | a. | CUMIS Specialty Insurance Company, Inc.<br>State of domicile: Iowa | 100% |
|  |  | b. | CUMIS Mortgage Reinsurance Company<br>State of domicile: Wisconsin | 100% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | 2. | CUNA Brokerage Services, Inc.<br>State of domicile: Wisconsin | CUNA Brokerage Services, Inc.<br>State of domicile: Wisconsin | 100% |
| | 3. | CUNA Mutual Insurance Agency, Inc.<br>State of domicile: Wisconsin | CUNA Mutual Insurance Agency, Inc.<br>State of domicile: Wisconsin | 100% |
| | 4. | CUMIS Vermont, Inc.<br>State of domicile: Vermont | CUMIS Vermont, Inc.<br>State of domicile: Vermont | 100% |
| | 5. | International Commons, Inc.<br>State of domicile: Wisconsin | International Commons, Inc.<br>State of domicile: Wisconsin | 100% |
| | 6. | MEMBERS Capital Advisors, Inc.<br>State of domicile: Iowa | MEMBERS Capital Advisors, Inc.<br>State of domicile: Iowa | 100% |
| | | a. | MCA Fund I GP LLC<br>State of domicile: Delaware | 100% |
| | | b. | MCA Fund II GP LLC<br>State of domicile: Delaware | 100% |
| | | c. | MCA Fund III GP LLC<br>State of domicile: Delaware | 100% |
| | | d. | MCA Fund IV GP LLC<br>State of domicile: Delaware | 100% |
| | | e. | MCA Fund V GP LLC<br>State of domicile: Delaware | 100% |
| | | f. | MCA Fund VI GP LLC<br>State of domicile: Delaware | 100% |
| | 7. | CPI Qualified Plan Consultants, Inc.<br>State of domicile: Delaware | CPI Qualified Plan Consultants, Inc.<br>State of domicile: Delaware | 100% |
| B. | 5910 Investments, LLC<br>State of domicile: Delaware | 5910 Investments, LLC<br>State of domicile: Delaware | 5910 Investments, LLC<br>State of domicile: Delaware | 100% |
| C. | TruStage Insurance Agency, LLC<br>State of domicile: Iowa | TruStage Insurance Agency, LLC<br>State of domicile: Iowa | TruStage Insurance Agency, LLC<br>State of domicile: Iowa | 100% |
| D. | CUNA Mutual Management Services, LLC<br>State of domicile: Iowa | CUNA Mutual Management Services, LLC<br>State of domicile: Iowa | CUNA Mutual Management Services, LLC<br>State of domicile: Iowa | 100% |
|  | 1. | Compliance Systems, LLC<br>State of domicile: Michigan | Compliance Systems, LLC<br>State of domicile: Michigan | 100% |
|  | 2. | CUneXus Solutions, Inc.<br>State of domicile: Delaware | CUneXus Solutions, Inc.<br>State of domicile: Delaware | 100% |
|  | 3. | ForeverCar Holdings, LLC<br>State of domicile: Delaware | ForeverCar Holdings, LLC<br>State of domicile: Delaware | 100% |
|  |  | a. | ForeverCar LLC<br>State of domicile: Illinois | 100% |
|  |  | b. | ForeverCar Consumer Credit LLC<br>State of domicile: Illinois | 100% |
| E. | MCA Fund I Holding LLC<br>State of domicile: Delaware | MCA Fund I Holding LLC<br>State of domicile: Delaware | MCA Fund I Holding LLC<br>State of domicile: Delaware | 100% |
| F. | AdvantEdge Digital, LLC<br>State of domicile: Iowa | AdvantEdge Digital, LLC<br>State of domicile: Iowa | AdvantEdge Digital, LLC<br>State of domicile: Iowa | 100% |
| G. | MCA Fund II Holding LLC<br>State of domicile: Delaware | MCA Fund II Holding LLC<br>State of domicile: Delaware | MCA Fund II Holding LLC<br>State of domicile: Delaware | 100% |
| H. | MCA Fund III Holding LLC<br>State of domicile: Delaware | MCA Fund III Holding LLC<br>State of domicile: Delaware | MCA Fund III Holding LLC<br>State of domicile: Delaware | 100% |
| I. | American Memorial Life Insurance Company<br>State of domicile: Iowa | American Memorial Life Insurance Company<br>State of domicile: Iowa | American Memorial Life Insurance Company<br>State of domicile: Iowa | 100% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | J. | Union Security Insurance Company<br>State of domicile: Iowa | Union Security Insurance Company<br>State of domicile: Iowa | 100% |
| | K. | Family Considerations, Inc.<br>State of domicile: Georgia | Family Considerations, Inc.<br>State of domicile: Georgia | 100% |
| | L. | Mt. Rushmore Road, LLC<br>State of domicile: Delaware | Mt. Rushmore Road, LLC<br>State of domicile: Delaware | 100% Preneed <br>Holdings, LLC<br>|
| | M. | PPP Services, LLC<br>State of domicile: Delaware | PPP Services, LLC<br>State of domicile: Delaware | 100% |
| | N. | MCA Fund IV Holding LLC<br>State of domicile: Delaware | MCA Fund IV Holding LLC<br>State of domicile: Delaware | 100% |
| | O. | MEMBERS Life Insurance Company<br>State of domicile: Iowa | MEMBERS Life Insurance Company<br>State of domicile: Iowa | 100% |
| 6. | CUNA Mutual Holding Company either directly or indirectly, is the controlling company of the<br>following: | CUNA Mutual Holding Company either directly or indirectly, is the controlling company of the<br>following: | CUNA Mutual Holding Company either directly or indirectly, is the controlling company of the<br>following: | CUNA Mutual Holding Company either directly or indirectly, is the controlling company of the<br>following: |
|  | A. | CUNA Mutual International Finance, Ltd.<br>Domicile: Cayman Islands | CUNA Mutual International Finance, Ltd.<br>Domicile: Cayman Islands | 100% CUNA Mutual <br>Global Holdings, Inc.<br>|
|  | B. | CUNA Mutual International Holdings, Ltd.<br>Domicile: Cayman Islands | CUNA Mutual International Holdings, Ltd.<br>Domicile: Cayman Islands | 100% CUNA Mutual <br>International <br>Finance, Ltd.<br>|
|  | C. | TruStage Global Holdings, ULC<br>Domicile: Alberta, Canada | TruStage Global Holdings, ULC<br>Domicile: Alberta, Canada | 100% TruStage <br>Financial Group, Inc.<br>|
|  |  | 1. | TruStage Life of Canada ("TLOC")<br>Domicile: Toronto, Canada | 100% TruStage <br>Global Holdings, <br>|
|  |  |  | Association for Personal Resource Planning of <br>Canada<br>Domicile: Ontario, Canada | 100% TLOC |
|  |  | 2. | Family Side, Inc.<br>Domicile: Ontario, Canada | 100% TruStage <br>Global Holdings, <br>|
|  | D. | CUNA Caribbean Holdings St. Lucia, Ltd.<br>Domicile: St. Lucia | CUNA Caribbean Holdings St. Lucia, Ltd.<br>Domicile: St. Lucia | 100% CUNA Mutual <br>International <br>|
|  |  | 1. | CUNA Caribbean Insurance Jamaica Limited<br>Domicile: Jamaica | 100% |
|  |  | 2. | CUNA Caribbean Insurance OECS Limited<br>Domicile: St. Lucia | 100% |
|  |  | 3. | CUNA Mutual Insurance Society Dominicana, S.A.<br>Domicile: Dominican Republic | 99.99% |
|  |  | 4. | CUNA Caribbean Insurance Society Limited<br>Domicile: Trinidad and Tobago | 100% |

---

**Item 30. Indemnification.**

(a)**Indemnification of Directors and Officers.** Section 490.202 of the Iowa Business Corporation Act

(the "IBCA"), provides that a corporation's articles of incorporation may contain a provision eliminating

or limiting the personal liability of a director to the corporation or its shareholders for monetary

damages for any action taken, or failure to take action, as a director, except liability for (1) the amount

of a financial benefit received by a director to which the director is not entitled, (2) an intentional

infliction of harm on MEMBERS Life Insurance Company (the "Registrant," "we," "our," or "us") or the

shareholders, (3) a violation of Section 490.833 of the IBCA or (4) an intentional violation of criminal

law.

Further, Section 490.851 of the IBCA provides that a corporation may indemnify its directors who may

be party to a proceeding against liability incurred in the proceeding by reason of such person serving in

the capacity of director, if such person has acted in good faith and in a manner reasonably believed by

the individual to be in the best interests of the corporation, if the director was acting in an official

capacity, and in all other cases that the individual's conduct was at least not opposed to the best

interests of the corporation, and in any criminal proceeding if such person had no reasonable cause to

believe the individual's conduct was unlawful or the director engaged in conduct for which broader

indemnification has been made permissible or obligatory under a provision of the articles of

incorporation. The indemnity provisions under Section 490.851 do not apply (i) in the case of actions

brought by or in the right of the corporation except for reasonable expenses incurred in connection with

the proceeding if it is determined that the director has met the relevant standard of conduct set forth

above or (ii) in connection with any proceedings with respect to conduct for which the director was

adjudged liable on the basis that the director received a financial benefit to which the director was not

entitled, whether or not involving action in the director's official capacity.

In addition, Section 490.852 of the IBCA provides mandatory indemnification of reasonable expenses

incurred by a director who is wholly successful in defending any action in which the director was a

party because the director is or was a director of the corporation. A director who is a party to a

proceeding because the person is a director may also apply for court-ordered indemnification and

advance of expenses under Section 490.854 of the IBCA.

Section 490.853 of the IBCA provides that a corporation may, before final disposition of a proceeding,

advance funds to pay for or reimburse the reasonable expenses incurred by a director who is a party to

a proceeding because such person is a director if the director delivers the following to the corporation:

(1) a written affirmation that the director has met the standard of conduct described above or that the

proceeding involved conduct for which liability has been eliminated under the corporation's articles of

incorporation and (2) the director's written undertaking to repay any funds advanced if the director is

not entitled to mandatory indemnification under Section 490.852 of the IBCA and it is ultimately

determined that the director has not met the standard of conduct described above.

Under Section 490.856 of the IBCA, a corporation may indemnify and advance expenses to an officer

of the corporation who is a party to a proceeding because such person is an officer, to the same extent

as a director. In addition, if the person is an officer but not a director, further indemnification may be

provided by the corporation's articles of incorporation or bylaws, a resolution of the board of directors

or by contract, except liability for (1) a proceeding by or in the right of the corporation other than for

reasonable expenses incurred in connection with the proceeding and (2) conduct that constitutes

receipt by the officer of a financial benefit to which the officer is not entitled, an intentional infliction of

harm on the corporation or the shareholders or an intentional violation of criminal law. Such

indemnification is also available to an officer who is also a director if the basis on which the officer is

made a party to a proceeding is an act taken or a failure to take action solely as an officer.

Our Amended and Restated Articles of Incorporation provide that our directors will not be liable to us or

our shareholders for money damages for any action taken, or any failure to take any action, as a

director, except liability for (1) the amount of a financial benefit received by a director to which the

director is not entitled, (2) an intentional infliction of harm on the Registrant or the shareholders, (3) a

violation of Section 490.833 of the IBCA or (4) an intentional violation of criminal law.

Our Amended and Restated Articles of Incorporation also provide that we indemnify each of our

directors or officers for any action taken, or any failure to take any action, as a director or officer except

liability for (1) the amount of a financial benefit received by a director to which the director is not

entitled, (2) an intentional infliction of harm on the Registrant or the shareholders, (3) a violation of

Section 490.833 of the IBCA or (4) an intentional violation of criminal law. Additionally, the Registrant is

required to exercise all of its permissive powers as often as necessary to indemnify and advance

expenses to its directors and officers to the fullest extent permitted by law.

Our Bylaws also provide indemnification to our directors on the same terms as the indemnification

provided in our Amended and Restated Articles of Incorporation. Our Bylaws also provide for advances

of expenses to our directors and officers. The indemnification provisions of our Bylaws are not

exclusive of any other right which any person seeking indemnification may have or acquire under any

statute, our Amended and Restated of Incorporation or any agreement, vote of stockholders or

disinterested directors or otherwise.

Section 490.857 of the IBCA provides that a corporation may purchase and maintain insurance on

behalf of a person who is a director or officer of a corporation, or who, while a director or officer of a

corporation, serves at the corporation's request as a director, officer, partner, trustee, employee or

agent of another domestic or foreign corporation, partnership, joint venture, trust, employee benefit

plan or other entity, against liability asserted against or incurred by that person in that capacity or

arising from that person's status as a director or officer, whether or not the corporation would have the

power to indemnify or advance expenses to that person against the same liability under the IBCA. As

permitted by and in accordance with Section 490.857 of the IBCA, we maintain insurance coverage for

our officers and directors as well as insurance coverage to reimburse us for potential costs for

indemnification of directors and officers.

(b)**Indemnification of Principal Underwriters.** Pursuant to the Distribution Agreement with CBSI, MLIC

has agreed to indemnify CBSI and CBSI's directors, shareholders, officers, agents and employees and

hold each of them harmless from and against any losses, damages, judgments and other costs, fees

and expenses, including reasonable attorneys' fees, resulting from any breach by MLIC of the

Distribution Agreement or from the gross negligence, fraud or willful misconduct of employees and

permissible contractors and agents of MLIC.

(c)**Undertaking.** Insofar as indemnification for liability arising under the Securities Act of 1933, as

amended (the "Securities Act") may be permitted to directors, officers and controlling persons of the

Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in

the opinion of the Securities and Exchange Commission, such indemnification is against public policy

as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for

indemnification against such liabilities (other than the payment by the Registrant of expenses incurred

or paid by a director, officer or controlling person of the Registrant in the successful defense of any

action, suit or proceeding) is asserted by such director, officer or controlling person in connection with

the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has

been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether

such indemnification by it is against public policy as expressed in the Securities Act and will be

governed by the final adjudication of such issue.

**Item 31. Principal Underwriter.**

(a)CUNA Brokerage Services, Inc. ("CBSI"), an affiliate of MLIC, is the principal underwriter for the

Insurance Company. In addition, CBSI is the principal underwriter for CMFG Variable Annuity Account,

CMFG Variable Life Insurance Account and MEMBERS Horizon Variable Separate Account. The

principal business address of CBSI is 2000 Heritage Way, Waverly, Iowa 50677-9202.

(b) Set forth below is certain information regarding the directors and principal officers of CBSI.

---

| | |
|:---|:---|
| **Name** | **Positions and Offices with Principal Underwriter** |

---

---

| | |
|:---|:---|
| Paul D. Barbato\* | Secretary |
| Joe Boan\*\*\*\* | Director and President |
| Jenny Brock\* | Treasurer |
| Katherine Castro\* | Assistant Secretary |
| Christopher Copeland\* | Director |
| Melissa Haberstich\*\* | Chief Compliance Officer |
| William A. Karls\* | Director |
| Barth T. Thomas\* | Director |
| Tammy L. Schultz\*\*\* | Director |

---

&nbsp;&nbsp;&nbsp;&nbsp;\*The principal business address of these persons is: 5910 Mineral Point Road, Madison, Wisconsin

53705. \*\*The principal business address of this person is: 2000 Heritage Way, Waverly, Iowa 50677.

\*\*\*The principal business address of this person is: 440 Mt. Rushmore Road, Rapid City, South Dakota

57701. \*\*\*\*The principal business address of this person is: 2812 Pocock Road, Monkton, Maryland 21111

(c) CBSI is the only principal underwriter. The services provided by CBSI are described in the Distribution

Agreement and Servicing Agreement filed as exhibits to this Registration Statement. ***(to be updated***

***by amendment)***

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Principal Underwriter** | **Net Underwriting** <br>**Discounts** <br>| **Compensation** <br>**on** <br>**Redemption**<br>| **Brokerage** <br>**Commissions**<br>| **Compensation** |
| CUNA Brokerage Services, Inc. | N/A | None | N/A | N/A |

---

\*Information for fiscal year ended December 31, 2025.

**Item 31A. Information about Contracts with Index-Linked Options and Fixed Options Subject to a** 

**Contract Adjustment.** ***(to be updated by amendment)***

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Name of** <br>**the** <br>**Contract**<br>| **Number of** <br>**Contracts** <br>**outstanding**<br>| **Total value** <br>**attributable** <br>**the Index-**<br>**and/or Fixed** <br>**Option** <br>**subject to an** <br>**Adjustment**<br>| **Number of** <br>**Contracts** <br>**sold** <br>**during the** <br>**prior** <br>**calendar**<br>| **Gross** <br>**premiums** <br>**received** <br>**during the** <br>**prior** <br>**calendar**<br>| **Amount of** <br>**Contract** <br>**value** <br>**redeemed** <br>**during the** <br>**prior** <br>**calendar**<br>| **Combination** <br>**Contract** <br>**(Yes / No)**<br>|
| TruStage <br>ZoneChoice <br>Advantage <br>Annuity<br>|  |  |  |  |  | No |

---

\*Information for fiscal year ended December 31, 2025.

**Item 32. Location of Accounts and Records.**

Not applicable.

**Item 33. Management Services**

Not applicable.

**Item 34. Fee Representation and Undertakings**

MLIC represents that it will file, during any period in which offers or sales are being made, a post-effective

amendment to the registration statement to include any prospectus required by Section 10(a)(3) of the

Securities Act and that, for the purpose of determining any liability under the Securities Act, each such

post-effective amendment shall be deemed to be a new registration statement relating to the securities

offering therein, and the offering of such securities at that time shall be deemed to be the initial bona fide

offering thereof.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it meets all of the

requirements for effectiveness of this Registration Statement under rule 485(b) under the Securities Act

and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly

authorized, in the City of Madison, and State of Wisconsin on this day of 19<sup>th</sup> day of December, 2025.

MEMBERS LIFE INSURANCE COMPANY

(Registrant)

By: <u>/s/Tammy L. Schultz</u> 

Tammy L. Schultz, President

As required by the Securities Act of 1933, this Registration Statement has been signed by the following

persons in the capacities and as of the dates indicated:

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| \* | President and Director (Principal <br>Executive Officer) <br>| December 19, 2025 |
| Tammy L. Schultz |  |  |
| \* | Treasurer (Principal Financial & <br>Accounting Officer) | December 19, 2025 |
| Brian J. Borakove | Treasurer (Principal Financial & <br>Accounting Officer) | December 19, 2025 |
| \* | Director | December 19, 2025 |
| Jennifer M. Kraus-Florin | Director | December 19, 2025 |
| \* | Director  | December 19, 2025 |
| Abigail R. Rodriguez | Director  | December 19, 2025 |
| \* | Director | December 19, 2025 |
| William A. Karls | Director | December 19, 2025 |
| \* | Director and Secretary | December 19, 2025 |
| Paul D. Barbato | Director and Secretary | December 19, 2025 |

---

\*By: <u>/s/Britney Schnathorst</u>

Britney Schnathorst

\*Pursuant to Power of Attorney dated April 10, 2025, filed electronically with this Registration

Statement on Form N-4 (File No. 333-283638), filed with the Commission on April 10, 2025.

------