Policy credits are not immediately subject to federal income taxes, nor will they affect the tax-qualified status of the policy to which they are applied. When policy benefits are paid, policy credits become taxable to the same extent that the other policy benefits are subject to taxation. You should consult your tax advisor to determine the tax consequences for your particular circumstances. Your vote is important because this conversion and combination with AmerUs will change the corporate structure and ownership of Indianapolis Life. To complete this transaction, approval of two-thirds of the votes cast by voting members is needed.
Every vote is important.
First, Indianapolis Life's Board of Directors believes that the conversion and combination will provide Indianapolis Life with access to additional capital, which will increase Indianapolis Life's growth potential, flexibility and financial strength. If the Plan of Conversion is not approved, Indianapolis Life will remain a mutual insurance company and members will retain their membership interests in the company. Since the conversion and combination would not occur, no consideration would be distributed to eligible members.