Whole Life Insurance: A Lifetime of Protection

Flexibility When You Need It By choosing a Whole Life policy, you have the flexibility to adjust your benefits when needed. • Cash Surrender: You can end your policy and receive a check in the amount of your plan’s current cash value. In many situations, cash surrenders may be paid tax-free.1 • Partial Surrender: You can withdraw a small portion of your policy’s cash value. In exchange, the available cash value and face amount of your policy will be reduced. • Loans: You can borrow against your cash value at an 8% loan interest rate. Discontinue Your Premium While Keeping Your Coverage Active • Same Amount of Coverage - Shorter Length of Time: Under the Extended Term Insurance provision, your policy’s original face amount (minus outstanding loans or accelerated benefit payments) will only be guaranteed for a specific term of time. In addition, your premium is “paid in full” until your new extended term period expires, terminating your policy. • Coverage to Age 121 - Smaller Guaranteed Benefit Amount: The Reduced Paid-Up Provision will reduce your original death benefit to a smaller amount. You will have lifetime coverage at a reduced benefit with no premiums. Your cash value will continue to accumulate. Nest Egg Estate Planning • Retirement Goals Income Replacement Mortgage/Rent • Other Loans Final Expenses Funeral Costs • Unpaid Medical Bills Whole Life Insurance Whole Life Insurance 1As long as the cash surrender does not exceed the total premiums received under the policy since inception. Please consult your tax consultant for your specific situation. A Lifetime of Protection Ensuring your family has protection during a tragedy may be uncomfortable, but preparing for the unexpected is essential. Your life insurance benefit can help replace your income for expenses like funeral costs, college tuition and other daily costs. Whole Life Insurance provides protection for your entire life. You can take it to a new job and into retirement up to age 121. The premium and amount of protection stay the same as long as the policy is active, provided premiums are paid as required. Why You Need Life Insurance Consider the following expenses when choosing the right life insurance plan for you.

Features EMPLOYEE ISSUE AGE AND MAXIMUM5 SPOUSE ISSUE AGE AND MAXIMUM5 Ages 17*-49: $300,000 Ages 50-65: $100,000 Ages 66-70: $10,000 Ages 17**-49: $50,000 Ages 50-60: $25,000 CHILD/GRANDCHILD ISSUE AGE AND MAXIMUM5 ACCELERATED BENEFIT FOR TERMINAL CONDITION Ages 1 month - 26: (14 in MA, WA; 17 in MI, PA) $50,000 ($15,000 in WA) You can receive a portion of the chosen death benefit if you are diagnosed with a Terminal Condition, as defined in the policy. RATES BASED ON ISSUE AGE AND TOBACCO STATUS LEVEL PREMIUM AND DEATH BENEFIT6 Your premiums will be based on your age on the date your policy becomes effective. You may be eligible for reduced rates if you are a non-tobacco user. Premiums and the death benefit are guaranteed to remain level for the life of the policy to age 121. Death benefits are generally paid tax free7. Three Easy Steps to Get Covered Answer Three Health Questions2 Don’t worry about participating in any invasive medical exams. 2 Select a Whole Life Plan Add riders to enhance your coverage. 1 Get Death Benefit Coverage Immediately3 Your death benefit coverage starts when you sign the application. 3 2Issuance of the policy may depend on the answer to these questions. 3Interim coverage for death will be in force from the date your application is signed if, on such date, the proposed insured is insurable per our underwriting guidelines for the requested coverage per the terms of the policy. This interim coverage for death will remain in force until the earlier of 1) the date a policy becomes effective, 2) the date we decline the application, or 3) the date we notify the proposed insured that they are ineligible for interim coverage. The employee and/or spouse must remain actively at work during the interim coverage period. If the death of the proposed insured occurs during the interim coverage period, the first month’s premium will be subtracted from the policy proceeds. Interim coverage is only for death benefits under the base policy and Children’s Term Rider. No interim coverage benefits are available under any Waiver of Premium Rider, Accidental Death and Dismemberment Rider, Accelerated Benefit Rider for Long Term Illness or Accelerated Benefit for Critical Illness Rider. 4Example is based on monthly non-tobacco rates for a WL14 base plan only. Contact your American Fidelity account manager for specific ages, rates or face amounts. 5Face amounts vary based on issue age. Issuance of coverage may be subject to responses received to a few medical questions. 6Provided no partial surrenders or accelerated benefits are taken. 7Please consult your tax advisor for your specific situation. *In the states of AK, AR, CO, IA, KS, MN, MO, NH, OR, PA, RI, SC, TN and WI, the minimum issue age for younger employees is 18. **In the states of MO and PA, the minimum issue age for younger spouses is 18. SAMPLE NON- TOBACCO MONTHLY PREMIUM RATES FOR BASE WHOLE LIFE PLAN4 $10K+ $50K+ $100K $150K $300K 25 $11.10 $39.00 $75.00 $105.00 $207.00 35 $14.50 $56.50 $110.00 $157.50 $312.00 45 $19.90 $83.50 $164.00 $237.00 $471.00 55 $29.10 $123.00 $243.00 n/a n/a +Shaded amounts available for spouse base policy purchases. Premium and amount of benefits vary dependent upon level selected at time of application.

Enhance Your Plan Waiver of Premium Rider This rider waives the premium if the base insured becomes totally disabled, as defined in the rider, for at least six consecutive months. Premiums are waived for the base policy and any attached riders. The issue age is 17-60. The rider terminates at age 65. Accidental Death and Dismemberment Rider This rider provides coverage upon death, dismemberment, or paralysis of the base insured before age 70 if such death, dismemberment, or paralysis results from accidental causes, as defined in the rider. This rider also provides an additional 10% seatbelt benefit if the police accident report certifies the base insured was wearing a properly fastened seatbelt at the time of death. Benefits are payable once per covered accident. Children’s Term Rider This rider provides Term Life Insurance protection for all eligible children between the ages of one month through 19 (in MI and PA, age 17; MA and WA, age 14). Three benefit levels are available: $10,000, $20,000, and $30,000 ($15,000 in WA). Coverage remains on each child until age 26 or the child’s marriage before age 26. Your covered child may also convert this rider for up to five times the amount of coverage (subject to a $100,000 limit) to any form of permanent insurance offered by American Fidelity. One premium covers all eligible children. Accelerated Benefit Rider for Long Term Illness This rider provides for two equal advances of a portion of the base policy’s death benefit due to a Long Term Illness if we receive satisfactory proof of Long Term Illness before each annual payment. Coverage is available on the base insured only. Accelerated Benefit Rider for Critical Illness This rider provides for an advance of a portion of the base policy’s death benefit due to a Critical Illness, defined as a Heart Attack, Permanent Damage Due to Stroke, Invasive Cancer, Major Organ Failure, or End Stage Renal Disease. The rider provides only one acceleration for one of the Critical Illnesses shown. The rider terminates upon acceleration. Social Security numbers are required at the time of application for spouses and dependents. Additional riders are subject to our general underwriting criteria, and coverage is not guaranteed. Rider availability may vary by state. Third Party Notice: The owner has the right to designate a third party to receive notice of lapse or termination of an individual life insurance policy due to nonpayment of premium. Such notice will be sent to the policy owner and the third party at least 30 calendar days before cancellation. This designation may be done at this time or at any time the policy is in force. Please contact us to request a form to designate, change or update this information at a later date. M3437.R118 For Illinois Applicants: We will treat a party to a civil union and a spouse in a marriage equally in our policies that are governed by your state. We will include a party to a civil union in any definition or use of the terms “spouse,” “family,” “immediate family,” “dependent,” “next of kin,” and any other terms descriptive of spousal relationships in our policies. Any policies providing coverage for children will extend eligibility for coverage to children of civil unions. DN88.R0916 MARYLAND DISCLAIMER: A PERSON WHO FELONIOUSLY AND INTENTIONALLY KILLS, CONSPIRES TO KILL OR PROCURES THE KILLING OF THE INSURED AND WHO IS A NAMED BENEFICIARY OF A LIFE INSURANCE POLICY ON THE INSURED IS NOT ENTITLED TO A BENEFIT UNDER THE POLICY. DN137

Accelerated Benefit Summary and Disclosure Notice THIS DOCUMENT SERVES ONLY AS A SUMMARY AND A DISCLOSURE NOTICE. PLEASE REFER TO YOUR POLICY OR RIDER FOR ACTUAL CONTRACT PROVISIONS. THE POLICY/RIDER PROVIDES AN ACCELERATED BENEFIT OPTION. YOU SHOULD CONSULT WITH A PERSONAL TAX ADVISOR IF YOU ARE CONSIDERING ELECTING PAYMENT UNDER AN ACCELERATED BENEFIT PROVISION. BENEFITS AS SPECIFIED IN THE POLICY/RIDER WILL BE REDUCED UPON RECEIPT OF AN ACCELERATED BENEFIT PAYMENT. RECEIPT OF ACCELERATED BENEFIT PAYMENTS: 1) MAY BE TAXABLE; 2) MAY AFFECT YOUR ELIGIBILITY FOR BENEFITS UNDER STATE OR FEDERAL LAW; AND, 3) DO NOT AND ARE NOT INTENDED TO QUALIFY AS LONG- TERM CARE INSURANCE. The policy and/or rider you are applying for has an Accelerated Benefit provision. The provision allows a portion of the death benefits to be advanced if certain conditions are met. Please see policy/rider for conditions and definitions, as applicable. Prior to the payment of any Accelerated Benefit, the following conditions must be met: • The maximum Accelerated Benefit varies by policy/rider (see specific information below) and shall not exceed the Benefit Amount for the policy shown on the Policy Schedule. • Only one Accelerated Benefit election will be made under the policy and/or each rider even if the Owner does not elect the full acceleration amount. • If two or more Accelerated Benefits are payable on behalf of the Insured/Covered Person under the policy or any attached riders for the same or related sickness, injury or loss, benefits will be paid in the following order: 1) Accelerated Benefit for Critical Illness, if this optional rider is attached to the policy; 2) Accelerated Benefit for Long Term Illness, if this optional rider is attached to the policy; and 3) Accelerated Benefit for Terminal Condition. • Additional limitations and exclusions may apply, please read your policy/rider carefully. Upon request to accelerate the policy/rider proceeds, and upon the payment of the accelerated benefit, the Owner and any irrevocable beneficiary shall be given a statement demonstrating the effect of the acceleration on the payment of policy proceeds, cash value, death benefit, premium, and policy loans, as applicable. Accelerated Benefit for Terminal Condition Prior to the payment of any Accelerated Benefit, the Insured/Covered Person must have a Terminal Condition, defined as an imminent death expected as a result of a non-correctable medical condition that with reasonable medical certainty will result in a drastically limited life span of the Insured/Covered Person of 12 months or less. The maximum payable is the lesser of: 50% of the eligible proceeds as defined in the policy/rider, or $100,000. There is no premium associated with this provision. Payment of an Accelerated Benefit, if elected, will have the following effect on your contract: • Upon payment of the Accelerated Benefit, the policy/rider will remain in force. Any premiums due to keep the policy/rider in force will be paid by us, and will be deducted from the policy proceeds upon death, unless you are currently exercising the Automatic Premium Loan option. If you are currently exercising the Automatic Premium Loan option, any premiums will continue to be paid under this option, until such time as this option is exhausted or discontinued. • Policy proceeds which are payable on the death of the Insured/Covered Person will be reduced by the amount of the Accelerated Benefit, any outstanding policy loans, and any premiums paid by us on your behalf. • Cash values, if any, will continue to accumulate as specified in your policy or rider. Access to the policy cash value may be restricted to the excess of the cash value over the sum of the amount accelerated and any premiums paid by us and any other outstanding policy loans. • Any outstanding loan, including interest will not be deducted from the Accelerated Benefit payment. • This Accelerated Benefit will be treated as a lien against the death benefit and applied at time of death. Accelerated Benefit for Critical Illness (optional rider) Prior to the payment of any Accelerated Benefit, the Insured must have a Critical Illness, which means a Heart Attack, Permanent Damage Due To A Stroke, Invasive Cancer, Major Organ Failure, or End State Renal Failure for which an Occurrence Date is confirmed by a Physician. The maximum payable is the lesser of 25% of the Eligible Proceeds, or $50,000 if you are under age 65; or 15% of the eligible proceeds, or $25,000 if you are age 65 or older. Premium is required to keep this rider in force. Accelerated Benefit for Long Term Illness (optional rider) Prior to the payment of any Accelerated Benefit, the Insured must have a Long Term Illness, which means the Insured has been certified within the last 12 months by a Licensed Health Care Practitioner as permanently unable to perform, without Substantial Assistance from another individual, at least two out of five Activities of Daily Living for a period of at least 90 days due to a loss of functional capacity; or requiring Substantial Supervision due to permanent Severe Cognitive Impairment. The maximum payable is the lesser of 50% of the Eligible Proceeds available at the time of claim payable in two equal annual payments up to a maximum of 25% of the Eligible Proceeds per year for two consecutive years; or $100,000 payable in two equal annual payments up to a maximum of $50,000 per year for two consecutive years. Premium is required to keep this rider in force. Payment of an Accelerated Benefit for Long Term Illness, if elected and/or Critical Illness, if elected, will have the following effect on your contract: • Upon payment of the Accelerated Benefit, the rider will terminate and no additional benefits will be due under the rider, even for recurrence. The policy will remain in force and premiums will continue to be billed and payable as due. • Policy proceeds which are payable on the death of the Insured will be reduced by the amount of the Accelerated Benefit. • Cash values, if any, will continue to accumulate as specified in your policy or rider. The cash values will be adjusted proportionally by the percent accelerated. • Any outstanding policy loan, including interest, will be proportionally reduced by the percent accelerated and will be deducted from the Accelerated Benefit payment. • The Accelerated Benefit will reduce the Benefit Amount and will be applied immediately upon acceleration. ICC18 DN111 This brochure does not constitute the full policy and is intended to provide basic information about American Fidelity Assurance Company’s Whole Life Insurance product, ICC14 WL14 / WL14 series. For specific details, limitations and exclusions, please consult a complete policy, riders, and its provisions. Please consult your tax advisor for your specific situation. This policy is not eligible under Section 125. We will not pay the policy proceeds if the insured commits suicide, while sane or insane for the period of time as described in the insured’s policy, from the Effective date. Instead, we will return all premiums paid. AF-2230(Education)-0523 051-144, 051-145 Accelerated Benefit Summary and Disclosure Notice American Fidelity Assurance Company americanfidelity.com Whole Life Insurance