LIFE PROTECTION ADVANTAGESM IUL

For producer use only.

Not for use with the general public.

Product Guide

LIFE PROTECTION

ADVANTAGE

IUL

391803_0723

LIFE

INSURANCE

The amount that may be available through loans and withdrawals, as defined in the contract.

Protection That’s Guaranteed

Life Protection Advantage is designed for clients who:

• Want to lock-in a death benefit that is guaranteed for a meaningful number of years, but not at

the higher cost typically associated with a fully-guaranteed universal life policy

• Understand the additional years of death benefit protection they need beyond the no-lapse

protection period may be extended on a non-guaranteed basis

• Want the potential for greater growth than a traditional fixed interest universal life policy can

typically offer, and are comfortable with their interest rate being based on the performance of

a market index

• Desire a policy with flexibility for the future – with features such as a Guaranteed Refund Option

which provides qualifying clients with flexibility for the future, Accelerated Death Benefit Riders

which allow clients the opportunity to access a portion of their death benefit early for terminal

or chronic illness, and a cash value that can be accessed via loans and withdrawals

You will experience many milestones in your life. Your clients wouldn’t want to

miss any of them. But if they can no longer share them with their family, they

want their family to have the financial protection that will help them carry on with

their lives.

The death benefit from a Life Protection Advantage indexed universal life (IUL)

insurance policy is paid directly to beneficiaries. It can help the insured provide

for his or her loved ones and maintain their standard of living – even if the

insured is no longer around.

Life Protection Advantage also has the potential to build cash value.

This can

be used to help make the client’s life insurance coverage last beyond the no-

lapse protection period, supplement retirement income or an education fund, or

provide money for emergencies.

Celebrate all of life’s moments.

100 —

95 —

90 —

85 —

80 —

75 —

70 —

65 —

Life Expectancy Compared

to the Long-Term No-Lapse Protection Period

0 10 20 30 40 50 60 70 80 85

Insured’s Issue Age

Insured’s Age

Male Life Expectancy

Female Life Expectancy

Long-Term No-Lapse Protection Period

When clients are looking for death benefit protection,

they want a policy that can last a lifetime. But, a fully-

guaranteed policy can be expensive. With Life Protection

Advantage, when the client pays the long-term no-lapse

protection premium, they receive a meaningful guarantee

period at a competitive price.

For most clients who are age 60 and under at issue and

are of average health, the no-lapse protection period will

last up to – or even beyond – their life expectancy. (Source:

Social Security Administration, Estimates from the 2016

Trustees Report.)

A Meaningful No-Lapse Protection Period

If the insured outlives their life expectancy, the death

benefit can extend beyond the no-lapse protection period

as long as the policy’s surrender value is sufficient to

cover the monthly deductions.

For insureds issue ages 80 and above, a guarantee to age 90 is provided by paying the short-term no-lapse protection premium.

How Index Interest

Crediting Works

The accumulation value of a Life Protection Advantage

IUL policy is important because it can help extend the

death benefit beyond the no-lapse protection period. The

accumulation value may earn interest at a rate that is

calculated based on the performance of a market index. This

section will help you learn more about how Life Protection

Advantage’s index interest crediting feature works.

Calculating the Index Interest Rate:

Life Protection Advantage IUL uses one of the most

straightforward index crediting methods in the industry

– annual point-to-point. This crediting method calculates

the index interest rate by comparing the index value on the

date a segment is created to the value one year later when

the segment matures. The participation rate and the cap

are then applied to determine the index interest rate to be

credited to the funds currently in that segment.

Although the index interest rate is based on the

performance of the chosen index , the accumulation value

is not actually invested in the stock market. The index

performance is only used in the calculation of the interest

credited to the policy.

What is a segment?

A segment is a portion of an index account that may be credited interest based upon the performance

of the chosen index.

New segments are created on the 10th of each month. A policy may contain up to 12 segments per

index interest crediting strategy. Each segment ends or matures, one year after it begins.

Step 1:

Calculate

the Annual

Index Change

Percentage

(Ending Value of Index –

Beginning Value of Index)

÷ Beginning Value of Index

Step 2:

Multiply the Index

Change by the

Participation Rate

Result of Step 1

Participation Rate

Step 3:

Apply the Cap

and Floor

If the result of Step 2 is:

- Greater than 0% and less

than the Cap Rate, the index

interest rate credited to that

segment will be equal to the

result of Step 2

- Greater than or equal to the

Cap Rate, the index interest

rate credited to that segment

will be equal to the Cap Rate

- Less than or equal to 0%,

no index interest will be

credited to that segment;

the client is protected from

market loss by the guaranteed

minimum floor rate of 0%

Choosing a Crediting Strategy

Clients have the ability to choose from four crediting

strategies, as well as a fixed account. This allows them

to tailor their policy based on how they believe the index

will perform. Clients can choose to allocate all of their

accumulation value to a single crediting strategy or among

multiple crediting strategies.

The caps and participation rates for each strategy are

typically dependent upon the economic environment, but

will never drop below the guaranteed minimum levels as

specified in their contract. Participation rates and caps can

change as often as monthly.

The four index interest crediting strategies include:

• 100% participation rate

• Higher participation rate (>100%) with lower cap

• Lower participation rate (<100%) with no cap

It’s important for clients to understand that even if the market

falls and the index change is negative, the client will be

credited no less than 0% for that segment.

Which Crediting Strategy is Right for My Client?

While these suggestions are by no means definitive, here are a few broad guidelines about which clients might

be best for each crediting strategy:

• S&P 500® One-Year 100% Participation – clients who believe the index will perform at an average or slightly

above average rate might be more suited to select this strategy

• S&P 500® One-Year High Participation – clients who believe the index will perform below the cap or below

the index average might be more suited for this strategy

• S&P 500® One-Year Uncapped – clients who believe the market will outperform the cap might be more

suited for this strategy

• BofA U.S. Agility Index: One-Year Uncapped - those who desire a more consistent performance in different

market environments may prefer this strategy

• Fixed account – clients who may not be comfortable with allocating all of their accumulation value to an

index interest crediting strategy

The GRO rider is not available for clients over age 60 (regardless of risk class), for substandard or tobacco cases under age 50 or for substandard tables 5-16 at ages 50 and above.

In order to remain eligible for the rider, the client must continue to make their required premium payments as defined in the rider. Refund is limited to 80% of the policy’s lowest

specified amount and is reduced by any previous withdrawals and outstanding loans.

The amount that may be available through loans and withdrawals, as defined in the contract.

For federal income tax purposes, tax-free income assumes (1) withdrawals do not exceed tax basis (generally, premiums paid less prior withdrawals); and (2) the policy does not

become a modified endowment contract. See IRC §72, 7702(f)(7)(B), 7702A.

Any policy withdrawals, loans and loan interest will reduce policy values and benefits.

Life Insurance Protection –

and More!

The reason a client purchases a life insurance policy is

primarily for the death benefit. A Life Protection Advantage

IUL policy comes with the following benefits the client can

take advantage of while they are still alive:

A Premium Refund Option

Qualifying LIfe Protection Advantage IUL policies come

with a Guaranteed Refund Option (GRO) rider at no

additional cost. The GRO rider provides seven 60-day

windows within which policyowners can surrender their

policy and receive their paid premiums back – up to 50%

at the end of year 15 and up to 100% at the end of years

20, 21, 22, 23, 24 and 25.

This rider provides clients with flexibility for the future if

they no longer need their life insurance coverage or if their

coverage needs change.

Early Access to the Death Benefit

Terminal and Chronic Illness Riders are issued with

the policy at no additional cost and with no additional

underwriting. Clients also have the option to purchase a

Long-Term Care rider. These riders give clients an option to

access a portion of their death benefit early. This money can

provide a little more comfort during a difficult time or can be

used to help cover the costs of long-term care.

Access to the Policy’s Cash Value

With a Life Protection Advantage IUL policy, clients can

access their cash value. This can help with a child’s college

tuition expenses, to help supplement retirement income,

or to pay for emergency expenses. Whatever the reason

may be, the policyowner can access the policy’s cash value

through income-tax-free loans and withdrawals.

5,6

Policy Form Number ICC17L152P (or state equivalent); Unisex: ICC17L153P (or state equivalent)

Issue Ages and

Underwriting Risk

Classes

Remember, we use

Age Last Birthday!

0-17: Standard (nontobacco) only

18-80: Preferred Plus (nontobacco)

Preferred (nontobacco and tobacco)

Standard Plus (nontobacco)

Standard (nontobacco and tobacco)

81-85: Standard (nontobacco and tobacco) only

Policies can be backdated up to six months to save age.

Table Ratings Tables 1 (A) to 16 (P)

Minimum Initial

Death Benefit

$100,000

Life Insurance

Qualification Test

Cash Value Accumulation Test (CVAT)

Death Benefit Options Two options are available to the policyowner:

Option 1: (Level) The specified amount of insurance in effect on the insured’s date of death

Option 2: (Increasing) The specified amount of insurance in effect on the insured’s date of

death plus the accumulation value on that date

The death benefit may be increased with either Option 1 or Option 2 in order to qualify as

life insurance under the Internal Revenue Code of 1986, as amended.

Premiums Premiums are flexible and the planned premium may be changed beginning in year two.

Additional premium payments are allowed at any time, subject to tax law restrictions.

No-Lapse Protection

We allow clients to

catch-up and restore

their long-term guarantee

at any point during the

short-term no-lapse

protection period as

long as the policy

hasn’t lapsed!

Long-Term: By paying the long-term no-lapse protection premium, the death benefit will be

guaranteed until the insured’s age 90. The long-term no-lapse protection premium level is

only available for insureds up to issue age 79.

Short-Term: This is the minimum initial premium. By paying the short-term no-lapse

protection premium, the death benefit will be guaranteed as follows (based on the client’s

issue age):

0-79: 10 years

80-85: To age 90

After the no-lapse protection period, the policy can continue on a non-guaranteed basis

for the client’s lifetime. How long the death benefit protection lasts beyond the no-lapse

protection period is based on the amount and timing of the premium payments, the

amount of interest credited to the policy, and the policy charges.

Policy Overview

Accumulation Value This policy may build an accumulation value that earns interest based on the performance

of crediting strategies that are linked to the chosen index and a fixed account.

Index Interest

Crediting Strategies

Four index interest crediting strategies are available. All strategies use the annual point-

to-point crediting method and all are based on the performance of the chosen index. The

participation rates and caps are declared monthly and can be found on the Life product

page on our Sales Professional Access website. The minimum index interest crediting rate

(the floor) for all four strategies is 0%.

• S&P 500® One-Year 100% Participation

• S&P 500® One-Year High Participation

• S&P 500® One-Year Uncapped

• BofA U.S. Agility Index: One-Year Uncapped

Index segments are created on the 10th of a policy month and mature after one year.

Fixed Account

Interest Rate

The fixed account will be credited at our currently declared crediting rate. The minimum

guaranteed fixed account crediting rate is 2%.

Cash Value The amount that may be available through loans or withdrawals, as defined in the contract.

Loans The policyowner may take a loan at any time, as long as the cash value is positive. The

minimum loan amount is $100.

Two types of loans are available: standard and index loans. If the policyowner does not

specify the type of loan option and does not currently have an outstanding loan, the

request will be processed as a standard loan.

Only one type of loan is available at a time. If the policy has an existing loan, the new loan

must be the same type of loan option as the existing loan.

Standard Loan Option

• Policy years 1-9: Charge 4% (in arrears); Credit 2%

• Policy years 10+: Charge 2% (in arrears); Credit 2%

Index Loan Option

• Charge: An interest rate determined by the company, not to exceed 6% (in arrears)

• Credit: Policy loan interest will be credited at the index interest crediting rates that apply

to the index interest crediting strategies the policyowner has chosen

Partial Withdrawals Partial withdrawals are available from the surrender value after the first policy anniversary.

The minimum withdrawal is $100. Withdrawals may not exceed 90% of the surrender value

during the first 14 years and 100% of the surrender value thereafter; minus the sum of the

next three monthly deductions.

No index credit will be given if funds are withdrawn from a segment before the segment

maturity date.

Surrender Value: The amount the policyowner will receive if they surrender their policy

before the policy maturity date. The surrender value equals the accumulation value,

minus any surrender charges and loans.

Fees and Charges Monthly Deductions: A monthly deduction is taken from the accumulation value. The

monthly deduction includes:

• Monthly expense charge:

Current: $5, plus a monthly charge per $1,000 of Specified Amount

Guaranteed (maximum): $10, plus a monthly charge per $1,000 of Specified Amount

• Cost of insurance for the current month

• Cost of riders for the current month

Premium Charges: A premium charge is applied to each premium made under the policy.

• Current: 4% of premium up to the Target Premium in each policy year; 7.5% of premium in

excess of the Target Premium in each policy year.

• Guaranteed (maximum): 10% of each premium payment

Surrender Charges: Surrender charges will be deducted from the accumulation value if the

policy is surrendered during the first 14 policy years. Surrender charges are based on the

insured’s issue age, gender, risk class and the length of time the policy has been in force.

Policy Exclusions and

Limitations

The death benefit will not be paid if the insured’s death results from suicide, while sane

or insane, within two years from the date of issue. Instead, we will pay the sum of the

premiums paid since issue, less any loan and loan interest due and any withdrawals.

Exclusions and limitations may vary by state.

Policy Maturity Age The policy will mature at age 120. Upon maturity, if the insured is still living, the surrender

value will be paid.

Future Policy Changes

Increases to the Specified Amount

Increases can be applied for at any time up to the

insured’s attained age 90. The minimum increase allowed

is $1,000 and proof of insurability will be required.

Decreases to the Specified Amount

Decreases greater than 50% of the initial face amount

will not be allowed within the first three policy years.

At no time can the specified face amount be less than

$50,000. A decrease in the specified amount will be

subject to a surrender charge during policy years when

surrender charges apply.

Death Benefit Option Changes

The policyowner may change the Death Benefit Option

once each policy year after the first year. No additional

changes may be made after the insured reaches attained

age 90. Changing the death benefit option will not change

the amount of the death benefit; however, the specified

amount will be adjusted. The death benefit may be

increased with either Option 1 or Option 2 in order to

qualify as life insurance under the Internal Revenue Code

of 1986, as amended.

Index Interest Crediting Strategies

The policyowner can change the allocation percentages,

as well as the index interest crediting strategies, for

future premiums. The crediting strategy can be changed

as often as monthly for new money. For money already

submitted, amounts can be moved once an existing

segment matures.

The policyowner can also transfer between the fixed and

index account:

• Transfers from the fixed account to the index account

are processed on the next allocation date

• Transfers from the index account to the fixed account

will be processed on the next segment maturity date

Conducting a Policy Review

It is important to meet with your clients regularly.

Here are two things you can do to help set yourself

up for successful follow-up conversations on an IUL

policy:

1 | Let your clients know in advance that you will be

scheduling follow-ups to review how their policy

has performed and to ensure their policy is still

meeting their needs. You will find that it is much

easier to make small adjustments over time, if

necessary. The home office can assist with these

policy reviews by running in-force illustrations.

2 | Discuss the annual statement. For life insurance

policies, annual statements are created the day prior

to the anniversary date. On an IUL, index interest is

not credited until the segment matures, which will

occur after the anniversary date. This means your

client will not have any index interest credits on their

first statement. Let your clients know this up-front so

they are prepared for what they will see on their first

statement. After the anniversary date, your client can

log on to the Customer Access Center or can contact

the home office to find out their index interest credit.

Automatically Included with the Policy:

Rider Availability Description

Accelerated Death

Benefit for Terminal

and Chronic Illness

Riders

(ICC13L098R and

ICC13L099R or state

equivalent)

Available at issue

on all policies

If the client applies

for the Long-Term

Care Rider and

is approved, the

Chronic Illness

Rider will not be

issued

This rider provides an accelerated death benefit in the event of

terminal or chronic illness.

Terminal Illness Rider: Provides an accelerated death benefit if the

insured provides evidence that their life expectancy is 12 months

or less. The requested benefit amount may not exceed the lesser of

$1,000,000 or 80% of the specified amount.

Chronic Illness Rider: Provides an accelerated death benefit if the

insured is unable to perform 2 of 6 Activities of Daily Living (ADLs)

for 90 consecutive days or requires substantial supervision to protect

himself or herself from threats to health and safety due to severe

cognitive impairment. The requested benefit amount may not exceed

the lesser of $1,000,000 or 80% of the specified amount at the time

of the first accelerated death benefit payment request.

The definitions of chronic or terminal illness may vary by state.

In California the requested benefit amount may not exceed the lesser

of $500,000 or 80% of the specified amount at the time of the first

accelerated death benefit payment request.

Guaranteed Refund

Option Rider

(Enhanced Surrender

Value Rider –

ICC14L125R, or state

equivalent)

Automatically

included for

qualifying policies

with issue ages

0-59 (Not available

for substandard

or tobacco cases

under age 50, or for

substandard tables

5-16 at ages 50 and

above)

This rider provides a refund of some or all premiums paid upon a full

surrender of the policy during a 60-day period following the 15th

and 20th through 25th policy anniversary.

• Year 15 = 50% of the accumulated premium paid

• Years 20, 21, 22, 23, 24 and 25 = 100% of the accumulated

premium paid

The refund of premiums paid will not exceed 80% of the specified

amount and if exercised, the policyowner must surrender the

policy. The refund of premiums is not available for loans or partial

withdrawals.

Although this rider is included with all qualifying policies, minimum

premium requirements must be met to keep the rider in force.

If not exercised, the rider terminates at the end of the 60-day period

following the 25th policy anniversary.

Lapse Guard®

Rider

(C507LNA08R or state

equivalent)

Automatically

attached to all

policies with issue

ages 0-75

The Lapse Guard rider is specifically designed to prevent policies

from lapsing that have been over-funded and have had level

disbursements taken for an extended period of time in retirement.

Because exercise of this rider keeps the policy from lapsing, no policy

loans will become taxable as income under current tax law. When

the Lapse Guard rider is exercised, the accumulation value is reduced

by 3%.

Riders and Provisions

Optional Riders Available for Purchase:

Rider Availability Description

Long-Term Care (LTC)

Rider

(ICC17L166R or state

equivalent)

Refer to the LTC

Rider Information &

Underwriting Guide for

complete details.

Available to issue

ages 30-79

The insured must

be a Table 4 or

better and have no

flat extra ratings

on their base life

insurance policy to

be eligible for LTC

Rider coverage

This rider allows the policyowner to access all or a portion of

the death benefit early to be reimbursed for covered long-term care

services.

Selecting the LTC Rider Coverage Amount

When the client applies for the rider, he or she will choose:

• The LTC rider benefit limit

The minimum is $150,000 for the 1% option and $100,000 for the

2% and 4% options (may vary by state). The maximum is the initial

specified amount of life insurance coverage (capped at $2 million

for the 1% and 2% options, and $1.25 million for the 4% option)

• The monthly acceleration percentage

The client can choose either 1, 2 or 4% of the maximum LTC rider

benefit amount

The maximum monthly benefit is equal to the LTC rider benefit limit

multiplied by the monthly acceleration percentage.

The LTC rider will be underwritten separate from the life insurance

policy. Rider COI charges are based on the insured’s age, gender,

LTC rider benefit limit, acceleration percentage and LTC underwriting

class. Once the policy is issued, the LTC Rider COI charges are

guaranteed not to increase over the life of the policy.

Receiving LTC Rider Benefits

The policyowner can request LTC rider benefit payments if the

insured is unable to perform 2 of 6 Activities of Daily Living (ADLs)

for 90 days or requires substantial supervision due to cognitive

impairment.

Once the eligibility requirements of the rider are met, the

policyowner will be reimbursed for covered long-term care expenses.

This includes services such as nursing home, assisted living facility,

home health care, adult day care, bed reservation, and certain stay-

at-home benefits.

Rider Taxation

This rider is intended to be a tax-qualified long-term care insurance

rider under Section 7702B(b) of the Internal Revenue Code, as

amended. This means that we have designed this rider, to the best

of our knowledge, to meet certain criteria that qualify it for favorable

federal income tax treatment. However, we do not warrant that

this rider will always have tax-qualified status. Tax-qualification is a

matter of federal law and is not guaranteed.

Optional Riders Available for Purchase:

Rider Availability Description

Guaranteed

Insurability Rider

(ICC08L006R or state

equivalent)

Available to issue

ages 18-45 with

renewal ages 19-49

This rider provides the insured the option to periodically increase

the specified amount without additional underwriting. Only one

specified amount increase is allowed each year.

The increase in the specified amount may be elected 90 days

following:

(a) marriage of the insured; (b) the birth of the insured’s child;

anniversary and every three years thereafter until the rider expires.

The ability to increase the specified amount under item (d) will

terminate if a specified amount increase is not exercised for five

consecutive years. No increase will be allowed under this rider if the

increase would cause the current specified amount to exceed 200%

of the initial specified amount or $1,000,000 (whichever is less).

A change in specified amount may result in the loss of the no-lapse

protection.

Accidental Death

Benefit Rider

(2144L-0989 or state

equivalent)

Available to issue

ages 18-60 with

renewal ages 19-64

This rider provides an additional death benefit amount in the event of

death due to a covered accident.

The minimum amount is $10,000 and the maximum amounts are the

lesser of:

• $100,000 for issue ages 18-25; $250,000 for issue ages

26-60; OR,

• Two times the specified amount

Disability Waiver of

Policy Charges Rider

(423L-0982 or state

equivalent)

Available to issue

ages 18-55 with

renewal ages 19-59

If the insured becomes disabled before the policy anniversary

following the insured’s 60th birthday and the disability continues

for at least six months, this rider will waive the monthly deduction

amount (cost of insurance charges and expense charges) while the

disability continues, even if the disability extends beyond age 60.

Disability Continuation

of Planned Premium

Rider

(ICC13L100R or state

equivalent)

Available to issue

ages 18-55 with

renewal ages 19-64

If the insured becomes disabled before the policy anniversary

following the insured’s 65th birthday and disability continues for

at least six months, this rider will contribute a specified monthly

amount of premium to the policy while the disability continues, even

if the disability extends beyond age 65.

Dependent Children’s

Rider

(ICC08L007R or state

equivalent)

Available when the

primary insured is

between issue ages

18-55

This rider is available for the insured’s dependent children ages

15 days through age 20. It provides coverage until each covered

child’s 23rd birthday or the date the insured reaches attained age 65.

The maximum coverage amount is $10,000 per child.

Additional Insured

Term Rider

(ICC16L158R-Self,

ICC16L159R-Other or

state equivalent)

Available to issue

ages 0-80 for the

primary insured;

issue ages 18-80

for others

This term insurance rider provides an additional death benefit on the

primary insured or up to four other additional insureds for as long as

the base policy remains in force, the insured reaches age 100 or the

other additional insured reaches age 100, whichever occurs first.

The minimum face amount is $25,000 and the maximum is two times

the base face amount. Rider charges are deducted from the policy

accumulation value when due. Not available with base policies rated

about 300% (Table 8).

These riders are not available on Unisex policies except in MT. Riders are subject to state approval.

Only one Disability rider may be added to each policy.

Notes:

Why Mutual of Omaha

Over 50 years of Mutual of Omaha’s Wild Kingdom taught us that the animal

kingdom and the human kingdom have something in common … an instinct to

protect what matters most. Through insurance and financial products, we help

people protect their lives, protect their families, protect their kingdoms.

MutualofOmaha.com

Product base plans, provisions, features and riders may not be available in all states and may vary by state.

Life Protection Advantage Sex Distinct Policy Form: ICC17L152P or state equivalent.

Life Protection Advantage Unisex Policy Form: ICC17L153P or state equivalent.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by United of Omaha Life Insurance Company (United

of Omaha). S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow

Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by United of

Omaha. United of Omaha’s Life Protection Advantage

IUL is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates,

and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors,

omissions, or interruptions of the S&P 500 Index.

BofA Securities Inc. and its affiliates (“BofAS”), BofA U.S. Agility Index (the “Index”) and related information, the name “BofAS”, and related trademarks,

are intellectual property of BofAS, licensed from BofAS to Mutual of Omaha Insurance Company and United of Omaha Life Insurance Company (collectively,

the “Licensee”). Neither the Licensee nor any fixed index annuity, indexed universal life insurance product or any other annuity product (collectively, the

“Product”) referencing the Index is sponsored, operated, endorsed, sold or promoted by BofAS. Obligations to make payments under any Product are solely

the obligation of Licensee pursuant to the term of the contract between Licensee and you, and are not the responsibility of BofAS. BofAS, the Index and

related information, the names of BofAS and its affiliates, and related trademarks may not be copied, used, or distributed without BofAS’s prior written

approval. The Products have not been passed on as to their legality or suitability, and are not regulated, issued, endorsed, sold, guaranteed, or promoted by

BofAS. BofAS’s only relationship to Licensee is the licensing (or sub-licensing) of certain trademarks and trade names and the Index or components thereof

and BofAS is not party to any transaction contemplated herein. While volatility controls may result in less fluctuation in rates of return as compared to

products or indices without volatility controls, they may also reduce the overall rate of return as compared to products or indices not subject to volatility

controls. BOFAS MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE INDEX, ANY RELATED INFORMATION, THE TRADEMARKS, OR

THE PRODUCT(S) (INCLUDING WITHOUT LIMITATION, THEIR QUALITY, ACCURACY, SUITABILITY AND/OR COMPLETENESS).