SINGLE PREMIUM IMMEDIATE ANNUITY

SPIA KEY FEATURES

Bankers Single Premium Immediate Annuity is an excellent choice for guaranteed income. Income can be guaranteed either for the lifetime of your client or for a fixed period. Provide your clients with the ability to customize payments according to their income needs. These payments will not fluctuate with market conditions.

Issue Ages Annuitant: 0-90 (age of last birthday) | Policy Owner: 18+ (age of last birthday)

Minimum Premium Amount $10,000

Maximum Premium Amounts $500,000 (home office approval needed for higher amounts)

Tax Qualification Types Non-Qualified and Qualified (Inherited and Stretch IRAs are not available with Bankers)

Guaranteed Payments The payment amount is guaranteed at issue. The payment period is guaranteed according to the option chosen

Electronic Funds Transfer Clients must have payments directly deposited in to bank accounts to prevent lost checks, and have immediate access to funds. Funds will normally be available the following business day on which payments are due

Proposals Payout quotes are guaranteed for 10 days with 30 days thereafter on transfers

Benefit Options Lifetime Income (ages 75 and below) | Life Income with Period Certain (5, 7, 10, 15, or 20 years) | Income for a Fixed Period (5-20 years) | Joint Life Income (100% or 66 2/3% to the survivor)

Commuted Settlement Should immediate liquidity of remaining cash value be desired by the owner or a lump sum death benefit be desired by the beneficiary(ies), Bankers Life Insurance Company is willing to process a commuted settlement

Effective Dates The contract will be effective on the date the single premium is received at Bankers. If funds are coming from more than one source the contract will be effective when the last money is received

First Payment The first payment is made one period after the effective date of the contract

Acknowledgement of Delivery Required with all cases

Suitability Form Required with all cases at the time of application

(For agent use only. Annuity is underwritten by Bankers Life Insurance Company, which is the only entity financially obligated under the annuity. This annuity has limitations that may not be described here. For costs and complete details of the annuity, contact Bankers Life Insurance Company. Annuity form not available in all states. Approval does not imply endorsement of any insurer or product. Bankers and its representatives do not give legal or tax advice. This content reflects our understanding of tax rules and regulations in effect at the time of publication. Taxes must be paid on deferred earnings when accessed. You may be responsible for income taxes on amounts withdrawn, including a 10% penalty for withdrawals prior to age 591/2. In Texas, Bankers Life conducts business as Western Bankers Life Insurance.)

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