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