Guaranteed Universal Life

Guaranteed Universal Life

A Flexible Premium Universal Life Insurance Policy

Life Insurance Policy Proposal

Prepared for:

Short Pay

Presented by:

Jim Armstrong CLU ChFC

Mutual of Omaha

Mutual of Omaha Plaza

Omaha, NE 68116

402-351-2313

United of Omaha Life Insurance Company, Mutual of Omaha Plaza, Omaha, Nebraska 68175 is licensed in all states, except New York 12/04/2013

POLICY VALUES AND BENEFITS Guaranteed

Universal Life

Guaranteed Universal Life is an individual universal life insurance policy that features flexible premiums to age 120 and an adjustable death benefit. This policy provides a No-Lapse Protection, which means the policy’s death benefit will remain in force, for as long as certain requirements described in the policy are met, but no longer than the policy’s maturity date.

Accumulation Value

The policy’s accumulation value is the accumulation at Interest of the premiums paid and any additional payments made, less all applicable policy charges, less any partial withdrawals, less surrender charges applicable to reductions in the Specified Amount, and less the cost of insurance rates for both the base plan and any rider added to the policy.

Surrender Value

The policy's surrender value is the accumulation value less any applicable surrender charges and less any loan not repaid.

Guaranteed Elements, Variables and Benefits

Guaranteed policy values and benefits are shown on the following pages. All values and benefits assume that the Premium payments are received on the first day of each payment period when due, and that the assumptions on which this proposal is based do not change.

POLICY MATURITY

Maturity Date

This policy matures on the policy anniversary date following the date the insured attains the age of 120. Upon policy maturity, if the insured is still living and the policy is still in-force, we will pay the policy’s death benefit, if any.

PREMIUMS

Premium Outlay

The Premium Outlay is the amount of premium assumed to be paid out of pocket for the mode selected, including any Section 1035 rollover amounts and any additional Premium payments made. The Premium Outlay payments shown in this proposal are calculated on an annualized basis and assume that payment is made when due at the beginning of each modal period. The Premium Outlay for policy year 1 reflects either (a) the annualized requested premium, (b) the minimum premium required to issue the policy, (c) the annualized requested premium, increased by an amount necessary to meet the minimum premium required to issue the policy after applying any first year additional Premium payments and any Section 1035 rollover amounts, or (d) the maximum allowable premium that will not violate the guideline maximum single premium, whichever is applicable.

POLICY NO-LAPSE PROTECTION

Policy No-Lapse Protection

This policy provides a Lapse Protection as described below. All Premiums associated with a No-Lapse Protection are based on the insured’s issue age, sex, risk class and rate class, the current Specified Amount and the length of time the policy has been in-force. A No-Lapse Protection is not a guarantee that the policy can never Lapse. Please see the No-Lapse Protection section of the policy for more information.

Based on premiums paid as illustrated in the Premium Outlay column of this proposal, the policy’s death benefit is guaranteed through policy year 85 providing premiums are paid when due and are paid according to the premium mode selected. Failure to meet any conditions required to maintain this guarantee could reduce the number of years the No-Lapse Protection remains in force or cause it to be lost.

If the premium requirement necessary to maintain the No-Lapse Protection is not met, an additional premium will be required.

Lifetime No-Lapse Protection

The annualized premium required to guarantee a $250,000 death benefit to policy year 85, the policy year in which the insured attains the age of 120, is $1,762.08. This assumes that premiums are paid continuously for 85 policy years when due and that the premium payment mode is Monthly.

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ADDITIONAL POLICY FEATURES

Disbursements Policy loans are available up to the surrender value. The maximum loan amount available is the surrender value, less any loan interest owed to the end of the policy year, and less the monthly deduction amount sufficient to continue this policy in force for one month. Loan interest will be charged at the rate of 4.76% in advance, which is an effective annual interest rate of 5.00%. The portion of the Accumulation Value which has been borrowed will be credited with an Interest Rate of 2.00%. Unpaid policy loans reduce the death benefit payable upon death of the insured, or the surrender value upon surrender of the policy.

Partial withdrawals from the surrender value are available after the first policy anniversary subject to the terms of the policy

The amount of each partial withdrawal must be at least $500. The amount of each policy loan must be at least $100. Specified

Amount Changes

Changes in Specified Amount are allowed once each policy year starting after the first policy year. The insured must apply for an increase in the Specified Amount with a new application and provide evidence of insurability that United of Omaha will accept. A decrease in the Specified Amount will result in a surrender charge if done during the first 19 years of the policy. Increases in the Specified Amount are not allowed after the policy anniversary following the insured’s 90th_{birthday. Any change}

RIDERS

Riders provide extra benefits not included in the basic policy. Riders may affect your policy’s accumulation values.

Disability Rider

If the insured becomes disabled before the policy anniversary following the insured’s 60th birthday and the disability continues for at least six months, United of Omaha will waive the payment of the monthly deduction amount (cost of insurance charges and expense charges) during the continuance of the disability while the policy is in force or until the Rider terminates, whichever occurs first. The cost of this Rider is $39.14 in policy year 1 and increases thereafter. This cost is deducted from the accumulation value each year when due.

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RIDERS - continued

Unless otherwise set forth in the rider, this Rider allows for the waiver of all applicable Surrender Charges when a partial withdrawal is made after one or more of the following events occur and the requirements set forth in the rider are met: (a) you become confined at the recommendation of a physician; for medically necessary reasons to, a hospital or a nursing home as defined in the Rider for at least 30 consecutive days, (b) you become eligible for Social Security Disability Benefits prior to age 65, (c) you are diagnosed with a terminal illness that will, with a reasonable degree of certainty, result in your death within 12 months or less, (d) you become unemployed and have received

unemployment benefits for at least 60 consecutive days, (e) you become an organ transplant donor or recipient for the body organs defined in the Rider, (f) your residence suffers physical damage in the amount of $50,000 or more, or (g) you experience the death of your spouse or minor dependent. Those events which qualify for a waiver of surrender charge may differ from state to state. See the rider language for the exact events and requirements to be satisfied in order to qualify for the waiver of surrender charges in your state.

Accelerated Death Benefit for Terminal and Chronic Illness

This Rider allows the owner to accelerate a portion of the policy's death benefit provided the Insured is either: (a) diagnosed as having a terminal illness that, with a reasonable degree of certainty, will result in the Insured's death within 12 months or less from the date a physician signs the statement of proof of terminal illness, or (b) is diagnosed as being "chronically ill"**.

The cumulative maximum accelerated death benefit amount available is the lesser of: (a) $250,000 of the policy's current death benefit, or (b) the initial Specified Amount stated in the policy data pages minus the minimum Specified Amount as stated in the Change in Specified Amount provision of your policy.

A one-time election is allowed if the Insured is diagnosed as being terminally ill. If the Insured is diagnosed with a chronic illness, the owner may request multiple accelerations provided the total amount accelerated does not exceed the maximum amount available.

There is no premium or cost of insurance charge for this rider. However, there will be a $100 charge for each acceleration made.

** The definition of "chronically ill" may vary by state. See the rider language for the requirements in your state that must be met for the insured to be diagnosed as "chronically ill". See policy for

DEFINITION OF TERMS

Initial Death Benefit

This is the total amount of insurance selected.

Interest The term "Interest", as used in the policy, and this proposal as it relates to the policy, means the dollar amount of interest credited to the accumulation value or the Proceeds held by United of Omaha as a result of the application of an Interest Rate for a specified period of time.

Interest Rate The term "Interest Rate", as used in the policy, and this proposal, means an annualized rate of Interest. (Note: To calculate Interest, we will multiply the accumulation value or Proceeds by a daily periodic rate which, when compounded daily, will result in the accumulation value or Proceeds earning the Interest Rate set in accordance with the applicable provisions of the policy.)

Guaranteed Interest Rate

This is the Interest Rate the company guarantees to credit to the accumulation value, which is 2.00%. At Age The age of the insured at the end of the policy year.

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DEFINITION OF TERMS - continued

Annualized Premium Outlay

This is the amount of premium assumed to be paid out of pocket for the mode selected and shown on an annualized basis. This amount includes any section 1035 rollover amounts and any additional Premium payments made.

Accumulation Value

The policy’s accumulation value is the accumulation at Interest of the premiums paid and any additional payments made, less all applicable policy administrative charges, less any partial withdrawals, less surrender charges applicable to reductions in the Specified Amount, and less the cost of insurance charges for both the base plan and any rider added to the policy.

Surrender Value

The surrender value is the accumulation value less any applicable surrender charges and less any outstanding loans and loan interest due.

Monthly No-Lapse Protection Value Test

The test performed on the policy’s Monthly Deduction Date to determine if the No-Lapse Protection remains in effect.

Lapse This is termination of the policy due to insufficient surrender value to pay the monthly deduction. Cost of

Insurance Rates

This is the monthly charge for each $1,000 of insurance.

Surrender Charge

Death Benefit Option:1 (Level) Premium Mode: Monthly

Guaranteed Values -Guaranteed Interest Rate: 2.00%

End of Policy

Year AgeAt

Annualized Premium

Outlay Accumulation ValueEnd of Year End of Year Surrender Value End of Year DeathBenefit

1 36 1926 1147 0 250000 2 37 1926 2305 0 250000 3 38 1926 3469 0 250000 4 39 1926 4635 0 250000 5 40 1926 5803 0 250000 6 41 1926 6969 469 250000 7 42 1926 8118 2118 250000 8 43 1926 9251 3751 250000 9 44 1926 10358 5358 250000 10 45 1926 11428 6678 250000 11 46 1926 12461 8211 250000 12 47 1926 13457 9707 250000 13 48 1926 14427 11177 250000 14 49 1926 15371 12621 250000 15 50 1926 16287 14037 250000 16 51 1926 17149 15399 250000 17 52 1926 17926 16676 250000 18 53 1926 18605 17855 250000 19 54 1926 19154 18904 250000 20 55 1926 19518 19518 250000

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62 97 0 # 0 0 250000 63 98 0 # 0 0 250000 64 99 0 # 0 0 250000 65 100 0 # 0 0 250000 66 101 0 # 0 0 250000 67 102 0 # 0 0 250000 68 103 0 # 0 0 250000 69 104 0 # 0 0 250000 70 105 0 # 0 0 250000 71 106 0 # 0 0 250000 72 107 0 # 0 0 250000 73 108 0 # 0 0 250000 74 109 0 # 0 0 250000 75 110 0 # 0 0 250000 76 111 0 # 0 0 250000 77 112 0 # 0 0 250000 78 113 0 # 0 0 250000 79 114 0 # 0 0 250000 80 115 0 # 0 0 250000 81 116 0 # 0 0 250000 82 117 0 # 0 0 250000 83 118 0 # 0 0 250000 84 119 0 # 0 0 250000 85 120 0 # 0 0 250000

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Premium Outlay Payments

0 # - Assumes no out-of-pocket Premium Outlay payment will be made. However, the cost of

insurance charges for the base policy and any riders, plus policy charges continue to be deducted from the accumulation value. If the policy's Lifetime No-Lapse Protection is not in effect, out-of-pocket Premium Outlay payments may need to be continued or resumed to keep this policy from lapsing. Based on premiums illustrated in the Premium Outlay column of this proposal, the policy's death benefit is guaranteed through policy year 85.

Guaranteed Level Annualized Premium Lifetime Premium: $1,762.08 Annualized Premium

Minimum Premium: $1,225.00 TAMRA 7-PAY: $8,197.50 Guideline Maximum Level: $2,802.78 Guideline Max Single: $30,229.00 cp1713

1 2 3 4 5 T@ 6 7 8 9 10 T@ 11 12 13 14 15 T@ 16 17 18 19 20 T@ 21 22 23 24 25 T@ 36 37 38 39 40 40 41 42 43 44 45 45 46 47 48 49 50 50 51 52 53 54 55 55 56 57 58 59 60 60 1,926 1,926 1,926 1,926 1,926 9,630 1,926 1,926 1,926 1,926 1,926 19,260 1,926 1,926 1,926 1,926 1,926 28,890 1,926 1,926 1,926 1,926 1,926 38,520 1,926 1,926 1,926 1,926 1,926 48,150 1,926 3,852 5,778 7,704 9,630 9,630 11,556 13,482 15,408 17,334 19,260 19,260 21,186 23,112 25,038 26,964 28,890 28,890 30,816 32,742 34,668 36,594 38,520 38,520 40,446 42,372 44,298 46,224 48,150 48,150 0 0 0 0 0 0 469 1,649 1,633 1,607 1,320 6,678 1,533 1,496 1,470 1,444 1,416 14,037 1,362 1,277 1,179 1,049 614 19,518 146 -90 -319 -560 -873 17,822 0 0 0 0 0 0 469 2,118 3,751 5,358 6,678 6,678 8,211 9,707 11,177 12,621 14,037 14,037 15,399 16,676 17,855 18,904 19,518 19,518 19,664 19,574 19,255 18,695 17,822 17,822 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000

This is a supplemental proposal. All values and benefits shown assume that the Premium payments are received on the first day of each payment period when due, and that the assumptions on which the proposal is based do not change.

Presented by: Jim Armstrong CLU ChFC Case Name: Sales & Marketing Concepts 9.11.13 - #26

51 52 53 54 55 T@ 56 57 58 59 60 T@ 61 62 63 64 65 T@ 66 67 68 69 70 T@ 71 72 73 74 75 T@ 86 87 88 89 90 90 91 92 93 94 95 95 96 97 98 99 100 100 101 102 103 104 105 105 106 107 108 109 110 110 0 0 0 0 0 59,706 0 0 0 0 0 59,706 0 0 0 0 0 59,706 0 0 0 0 0 59,706 0 0 0 0 0 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 59,706 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000

This is a supplemental proposal. All values and benefits shown assume that the Premium payments are received on the first day of each payment period when due, and that the assumptions on which the proposal is based do not change.

Presented by: Jim Armstrong CLU ChFC Case Name: Sales & Marketing Concepts 9.11.13 - #26

Age Last Birthday 35

Risk Class Standard Plus Non-Tobacco

Table Rating None

Flat Extra Substandard Amount

Association Member No

State Code NE

Solve For

Solve For Premium Solve

Premium Solve Option No Lapse Protection

No Lapse Year/@Age Max

Illustrate Catch-up

Extend No Lapse Protection Year/@Age Year/@Age to Increase Premiums

Face Amount 01 to 85 - 250000

Years to Pay Premium @66

Policy Options

Death Benefit Option Level

Premium Mode BSP

Prevent MEC No

Pour-In Amount Regular 01 to 85 - 0

1035 Rollover Amount 0

Premium Basis Yes

Years to Print Max

Riders

Riders Yes

Disability Rider Yes

Accidental Death Benefit No

Accidental DB Amount

Child Rider Units 0

Year/@Age to Terminate Child Rider

Guaranteed Insurablity Rider No

Guaranteed Insurability Amount

Producer Name Jim Armstrong CLU ChFC

Producer Office Mutual of Omaha

Producer Address Mutual of Omaha Plaza

Producer City Omaha

Producer State Nebraska

Producer Zip Code 68116

Producer Phone 402-351-2313

Guaranteed Ledger