Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Reward & Retain Key Executives Survivor Income Death Benefits Only (DBO) Plan

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Important Disclosures 2  The Voya ™ Life Companies and their agents and representatives do not give tax or legal advice. This information is general in nature and not comprehensive, the applicable laws change frequently and the strategies suggested may not be suitable for everyone. You should seek advice from your tax and legal advisors regarding your individual situation.  These materials are not intended to and cannot be used to avoid tax penalties, and were prepared to support the promotion or marketing of the matter addressed in this document. The taxpayer should seek advice from an independent tax advisor.  The Voya Universal Life-CV product is a flexible premium adjustable life insurance policy which can provide a lifetime benefit. The death benefit is adjustable and may depend on the account value in the policy. This product is offered by Security Life of Denver Insurance Company, a member of the Voya ™ family of companies and is filed as Policy Form Series # /08 (which may vary by state).  All guarantees are based on the financial strength and claims paying ability of the issuing insurance company who is solely responsible for all obligations under its policies.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Introducing Survivor Income DBO Plans 3  Simple Plan Design

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Introducing Survivor Income DBO Plans 4  Simple Plan Design  Death Benefit for Executive’s Beneficiaries

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Introducing Survivor Income DBO Plans 5  Simple Plan Design  Death Benefit for Executive’s Beneficiaries  Potential Cost Recovery for Employer

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Survivor Income DBO Plans 6  Employer promises benefit to Executive’s survivors upon his or her death  Employer purchases Life Insurance to fund the promised benefit  Employer pays annual Life Insurance premiums. These are not tax deductible by the Employer nor are treated as income to the Executive  Death benefit is taxable to Executive’s beneficiaries as Income in Respect of a Decedent (“IRD”)

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Survivor Income DBO Plans 7 1 EmployerExecutive

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Survivor Income DBO Plans 8 1 EmployerExecutive Voya Life Companies 2

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Survivor Income DBO Plans 9 1 EmployerExecutive Voya Life Companies 23

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Survivor Income DBO Plans 10 1 Employer Executive Executive’s Beneficiaries Voya Life Companies 23 4

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Survivor Income DBO Plans 11 Potential Advantages  Cost recovery available to Employer  Simplified ERISA reporting allowed  Benefit may be offered selectively  Not restricted to “Top Hat” group  Simple plan administration Some Disadvantages  No supplemental retirement income provided  No “Golden Handcuffs”  Death benefit paid to Executive’s survivors is taxable income

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Survivor Income DBO Plans in Action 12 Widget Corp. wants to reward and retain services of Richard Brown:  Wants simple plan design  Wants to provide death benefits to their key Executives  Wants arrangement that offers cost recovery for Employer

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Survivor Income DBO Plans in Action 13 Assume:  Richard Brown is 45 and in excellent health (preferred non-smoker)  Mr. Brown plans to retire from Widget Corp. in 20 years at age 65  Widget Corp. wants to provide Mr. Brown with death benefit protection for his family

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Survivor Income DBO Plans in Action – A Hypothetical Case 14  Widget Corp. enters into Survivor Income DBO arrangement promising to pay $500,000 benefit to Richard Brown’s survivors upon his death.  Widget Corp. purchases a policy on Brown’s life and pays $6,750 per year in premiums for 20 years.  Upon Brown’s death, Widget Corp. will pay Brown’s survivors $500,000.  The remaining policy death policy benefits will be used by Widget Corp. to recover its premium costs.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN The values are for illustrative purposes only and should not be deemed a representation of past or future results. Actual results will vary. Values shown were calculated using current, non-guaranteed policy charges and crediting rate of 4.5%. Using a Voya Universal Life-CV policy, illustrated at 4.5% hypothetical current rate of return, male, age 45, preferred non-smoker: Annual Premium = $6,750 Total Premium (20 years) = $135,000 Death Benefit to Executive’s Survivor = $500,000 Initial Death Benefit $500,000 Increasing Death Benefit (Option 2) Guideline Premium Test Survivor Income DBO Plans in Action – A Hypothetical Case

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN What Has Been Accomplished? 16  Death benefit provided for Executive’s beneficiaries  Employer able to use life insurance to recover some of or all of the costs of providing the benefit

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Other Considerations 17  Accumulated Earnings Tax – A company with significant preference items should consider whether increases in policy cash values (and/or the excess of death benefit proceeds received over basis) will be subject to the alternative minimum tax.  Section 101(j) – Care should be taken to structure the plan in conformation with Section 101(j), under which the proceeds from certain “employer-owned life insurance contracts” are taxable to the company.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Thank You! 18