1. All Product and Training Information Contained in this Presentation is Intended For Agent Use Only. This Piece is Not Intended to Create Public Interest in an Insurance Product, or in an Insurer or Agent.

2. Altis ® 100 Plus Universal Life with Secondary Guarantees Lifetime Guaranteed Death Benefits

3.  Guaranteed Death Benefit Altis® 100 Plus Features & Benefits  “Dial a Payment Period” v Level Premium to 100 v Select Payment Years u In as few as 10 years u A longer payment duration up to age 100 u Or select any period in between u Select Payment to a Specific Age (i.e. Pay Premiums to Age 65)

4.  Minimum Face Amount $50,000 Altis® 100 Plus Features & Benefits  Issue Ages 0 – 80  Banded at $50,000, $100,000 and $250,000  Preferred, Non-Tobacco, Select Tobacco & Tobacco And NEW! Super Preferred Super Preferred Underwriting Class

5.  Guaranteed Interest Rate 3% Altis® 100 Plus Features & Benefits  0% Net Cost Loans After the 10 th Year

6. Many Riders Available  Waiver of Scheduled Deductions (R-2034-11/05)  Accidental Death (R-2033-11/05)  Children Term Insurance (R-2035-11/05)  Accelerated Benefit Rider (R-2020-9/98- Rev. 1/01)  Insured Insurability Rider (R-2031-11/05) Altis® 100 Plus Features & Benefits

7. Altis® 100 Plus Competitive Comparisons

8. Altis® 100 Plus Competitive Comparisons CompanySup Pref PrefNT AIG Amer Gen Elite ULG 2003 1,4121,6192,031 First Colony Lifetime Pro Flex 1,0931,2211,456 ING – ReliaStar 1,3391,3721,552 Jackson Natl JNL Generations 1,2151,2641,448 Jefferson Pilot Legend 300XG 1,1161,1971,430 Lincoln Benefit Legacy Secure 1,3531,4061,597 Ohio National Virtus 100G 1,1951,2601,444 Protective Select V 1,4591,5121,740 West Coast Plat SP 1,4511,6521,909 Male, Age 45 $100,000 20-Pay Altis® 100 Plus $1,103 $1,197 $1,300

9. Altis® 100 Plus Competitive Comparisons CompanySup Pref PrefNT Altis® 100 Plus $1,103$1,197$1,300 AIG Amer Gen Elite ULG 2003 1,4121,6192,031 First Colony Lifetime Pro Flex 1,0931,2211,456 ING – ReliaStar 1,3391,3721,552 Jackson Natl JNL Generations 1,2151,2641,448 Jefferson Pilot Legend 300XG 1,1161,1971,430 Lincoln Benefit Legacy Secure 1,3531,4061,597 Ohio National Virtus 100G 1,1951,2601,444 Protective Select V 1,4591,5121,740 West Coast Plat SP 1,4511,6521,909 Male, Age 45 $100,000 20-Pay

10. Altis® 100 Plus Competitive Comparisons Company NT AIG Amer Gen Elite ULG 2003 1,279 First Colony Lifetime Pro Flex 1,079 ING – ReliaStar 1,147 Jackson Natl JNL Generations 1,195 Jefferson Pilot Legend 300XG 1,055 Lincoln Benefit Legacy Secure 1,201 Ohio National Virtus 100G 1,157 Protective Select V 1,077 West Coast Plat SP 1,073 Male, Age 45 $100,000 Level Premium to 100 Altis® 100 Plus $1,065 Average $1,140

11. Altis® 100 Plus Competitive Comparisons Company NT Altis® 100 Plus $1,065 $1,065 AIG Amer Gen Elite ULG 2003 1,279 First Colony Lifetime Pro Flex 1,079 ING – ReliaStar 1,147 Jackson Natl JNL Generations 1,195 Jefferson Pilot Legend 300XG 1,055 Lincoln Benefit Legacy Secure 1,201 Ohio National Virtus 100G 1,157 Protective Select V 1,077 West Coast Plat SP 1,073 Male, Age 45 $100,000 Level Premium to 100

12. Altis® 100 Plus Competitive Comparisons Company Sup Pref AIG Amer Gen Elite ULG 2003 1,615 First Colony Lifetime Pro Flex 1,630 ING – ReliaStar 1,943 Jackson Natl JNL Generations 1,992 Jefferson Pilot Legend 300XG 1,551 Lincoln Benefit Legacy Secure 1,721 Ohio National Virtus 100G 1,806 Protective Select V 1,728 West Coast Plat SP 1,683 Female, Age 45 $250,000 Level Premium to 100 Altis® 100 Plus $1,661 Average $1,741

13. Altis® 100 Plus Competitive Comparisons Company Sup Pref Altis® 100 Plus $1,661 AIG Amer Gen Elite ULG 2003 1,615 First Colony Lifetime Pro Flex 1,630 ING – ReliaStar 1,943 Jackson Natl JNL Generations 1,992 Jefferson Pilot Legend 300XG 1,551 Lincoln Benefit Legacy Secure 1,721 Ohio National Virtus 100G 1,806 Protective Select V 1,728 West Coast Plat SP 1,683 Female, Age 45 $250,000 Level Premium to 100

14. Lapse Comparison Guarantees PremiumLapse Age (Guar) PremiumLapse Age (Guar) Altis® II – 15 Yr Altis® I Shenandoah WL Altis® 100 Plus DBPG Altis® 100 Plus Super Pref DBPG Male, Age 35 $100,000 PreferredNon-Tobacco $573 121+ $601 52 $601 64 $1,181 100+ $601 121+ $689 52 $689 68 $1,181 100+ $689 121+

15.  Illustration software only allows design options that ensures DBPG is illustrated to age 121 Altis 100 ® Plus  Only policy designs that project the Death Benefit Protection Guarantee (DBPG) to age 121 will be accepted

16.  If a premium entered in the system does not satisfy the DBPG, the software will automatically solve for the level DBPG premium  If 1035 funds are applied, the software will solve an adjusted DBPG level premium Illustration Software  New premium solve feature calculates level premium that satisfies DBPG

17.  Signatures not required in non-NAIC states  NAIC states: may submit signed illustration or certification (#4809), but the NB process will not start until illustration is received Sales Illustrations  Required in all states to start New Business process

18.  If the illustration doesn’t match the app: 1. The illustration information will be relied upon. 2. If the premium received is less than illustrated amount:  Agent’s account will be debited if less than $25,  Agent must respond in writing with new adjusted planned premium, payment period, face amount, etc. if difference exceeds $25 3. If face amount, riders, etc. are different, agent must respond in writing New Business Process  Illustration and Application will be verified for satisfaction of the DBPG

19. 1. Agent will be notified in writing of counteroffer 2. Agent must respond in writing with new adjusted periodic premium, premium duration, or face amount, etc. 3. After receiving written verification, NB team will verify that DBPG is met and issue policy New Business  If case is approved other than as applied for (i.e. underwriting class, substandard):

20. Form # 5160 Use this application for:  Shenandoah Term  Shenandoah Whole Life  Altis® I, II and 100 Plus

21. Altis I Universal Life (Policy Form L-1010-5/96) ®

22. Altis I - Features  Issue Ages 0 - 80 (age last birthday)  Minimum Face v$ 25,001 WV only (Tobacco, Select Tobacco & Non-tobacco) v$100,000 (Preferred Non-tobacco ages 21-65 )  Target Premium (90% of Guideline)  Lower Minimum Premiums ®

23. USES OF ALTIS I USES OF ALTIS I Projected Cash Values at Target Premium Levels Male 45 NT $100,000 Face Amt. Annual Target Premium $1,750 @ 4.75%* = Age 65 Cash Value $ 42,095 Age 95 Cash Value $ 255,516 Age 100 Cash Value $ 331,753 ® * Using non-guaranteed interest rate as of 11/04, which is subject to change. See current interest rate bulletin on StarNet

24. USES OF ALTIS I Projected Death Benefit Protection at Minimum Premium Levels Male 45 NT $100,000 Face Amt. Minimum Annual Premium $1,150 @ 4.75%* = Cash ValueDeath Benefit Age 65 $ 21,110 $ 100,000 Age 95 $ 54,715 $ 100,000 Age 100 $ 32,672 $ 100,000 ® * Using non-guaranteed interest rate as of 11/04, which is subject to change. See current interest rate bulletin on StarNet

25. USES OF ALTIS I USES OF ALTIS I Stable Performance even at Minimum Premium and Minimum Guaranteed Interest Rate Example: Male 45 NT $100,000 Face Minimum Annual Premium $1,150 @ 4.0% = Age 65 Cash Value $19,211 Age 94 Cash Value $ 347 ®

26. Altis® I Riders Available Waiver of Scheduled Deductions (534-7/85) Disability Premium Payment (R-2005-1/90) Accidental Death (523-7/85) Insured Insurability (553-7/85) Spouse Term Insurance (2014-9/96) Children Term Insurance (621-10/86) Other Insured Term Insurance (R-2013-9/96) Additional Term Insurance (R-2012-9/96) Level Term Insurance (R-2022-4/99) Other Insured Level Term Insurance (R-2023-4/99) Accelerated Benefit Rider (R-2020-9/98 – IL rev. 5/00) Non-Occ D.I. Rider – Primary & Other Insured (R-2025-4/00) Occupational D.I. Rider – Primary & Other Insured (R-2026-4/00)

27. Form # 5160 Use this application for:  Shenandoah Term  Shenandoah Whole Life  Altis® I, II and 100 Plus

28. Altis® II Term Type UL

29. Altis ® II Features  18 – 80 Issue Ages  Minimum Face Amount: - $50,000 (tobacco, non-tobacco) - $100,000 (preferred non-tobacco, ages 21–65)  Term-like Permanent Coverage  Low Minimum Premium  10 & 15 Year No Lapse Guarantee Periods  Target Premiums & Commissions  Guaranteed Minimum Interest Rate: 4%  No policy fee  10 Riders available to custom design plan

30. Mortgage Protector® II vs Altis® II Premium Comparison Male 35 (NT) - $150,000 Monthly Premiums Mortgage Protector® II Altis® II Differ. 10 Yr. $22.84 $27.63 $4.79 15 Yr. $23.87 $30.00 $6.13

31. Altis® II Riders Available Disability Premium Payment Rider (R-2005-1/90) Accidental Death (523-7/85) Insured Insurability (553-7/85) Spouse Term Insurance (2014-9/96) Children Term Insurance (621-10/86) Level Term Insurance (R-2022-4/99) Other Insured Level Term Insurance (R-2023-4/99) Accelerated Benefit Rider (R-2020-9/98 – IL rev. 5/00) Non-Occ D.I. Rider – Primary & Other Insured (R-2025-4/00) Occupational D.I. Rider – Primary & Other Insured (R-2026-4/00)

32. Form # 5160 Use this application for:  Shenandoah Term  Shenandoah Whole Life  Altis® I, II and 100 Plus

33. Atlantis: Beyond Your Imagination! Convention 2008 Paradise Island, Bahamas

34. Shenandoah Club Qualification period: January 1 – December 31, 2007 Pro rata qualifying available! Contract Date Agent Agency January, 2007 or Prior $65,000 $200,000 February, 2007 $62,000 $191,000 March, 2007 $59,000 $182,000 April, 2007 $56,000 $173,000 May, 2007 $53,000 $164,000 June, 2007 $50,000 $155,000 July, 2007 or After $47,000 $146,000 A minimum of 15 lives is required Minimum 78% rolling 13-month persistency required

35. Leaders’Circle Qualification period: Jan. 1 – Dec. 31, 2007 Writing Agent$120,000 Agency $375,000 A minimum of 15 lives is required Minimum 78% rolling 13-month persistency required