Products issued by Life Insurance Company of the

Products issued by: Life Insurance Company of the Southwest® Living Life, [Form Series 20182(0614), ICC 14 -20182(0614)] and any applicable riders are underwritten by Life Insurance Company of the Southwest®, Addison, Texas. All rider form series numbers are not available in all states. National Life Group® is a trade name representing various affiliates, which offer a variety of financial service products. Life Insurance Company of the Southwest, Addison, TX, is a member of National Life Group. PFA is an independent agency of Life Insurance Company of the Southwest. TC 91483(0816)1 This is an insurance sales presentation. This presentation is not approved for use in Montana or New York © 2016 National Life Group® Cat # 102912

America’s New Reality Lifestyle 85% of Americans say it is more difficult today than ten years ago to maintain their lifestyle. Pew Research Center. August 24, 2012 Cost of Living 56% of Americans say their family’s income is falling behind the cost of living. Pew Research Center. September 4, 2012. In 2014, the average debt parents have financed for their children’s college education is $30, 867. https: //studentloanhero. com/student-loan-debt-statistics-2016/ Educational Debt In 2016 the average 4 year college graduate has over $37, 000 in student debt to start their lives with. https: //studentloanhero. com/student-loan-debt-statistics-2016/ TC 91483(0816)1 2 © 2016 National Life Group®

America’s New Reality Retirement 60% of American have $10, 000 or less saved for retirement. http: //time. com/money/4258451/retirement-savings-survey/ 50% of all residential real estate foreclosures are due to medical debt. Too Often Medical Debt = Bankruptcy + Foreclosure – January 2012 – Lawyers. com Chronic and Critical Illness 2 out of 4 households that have filed for personal bankruptcy were due to medical problems. Health Affairs – Medical Bankruptcy: Myth versus Fact-Feb 2016 The unemployment rate is double for people with a medical disability. Bureau of Labor Statistics. Persons with a Disability: Labor Force Characteristics Summary. June 21, 2016 TC 91483(0816)1 3 © 2016 National Life Group®

America’s Dilemma Average life expectancy for men 1950 Average life expectancy for women 1950 73. 5 YEARS 2016 82. 6 YEARS 79. 3 YEARS 2016 86. 4 YEARS +9. 1 YEARS +7. 1 YEARS USA Today 2014 TC 91483(0816)1 4 © 2016 National Life Group®

America’s Dilemma People are living longer with growing financial challenges. 75% of all adults have a responsibility to provide financial assistance to an elderly parent who is in need. http: //www. pewsocialtrends. org/2013/01/30/the-sandwich-generation/ 1 out of 2 adults will have at least one chronic illness. 25% 2008 Census Bureau of those people will have one or more of their normal daily activities limited. Most Americans will spend 20+ years in retirement. Statement of Marianna La. Canfora, Assistant Deputy Commissioner of Social Security Administration, Washington D. C. July 15, 2010. TC 91483(0816)1 5 © 2016 National Life Group®

America’s Dilemma Americans are not insuring themselves for the risks of modern living. 100 MILLION adults do not have life insurance 170 M DON’T HAVE ENOUGH LIFE INSURANCE 70 MILLION adults are under insured 2015 LIMRA Insurance Barometer Study TC 91483(0816)1 6 © 2016 National Life Group®

Life Happens Every day, in every community, in every family, life events happen; some expected and some unexpected The life events you need to prepare for. TC 91483(0816)1 7 © 2016 National Life Group®

What if you died too soon? More than ever you need protection from the start. Financial debt and responsibility starts earlier than ever with student loan debt and only grows as we age. Life Insurance provides death benefit protection and helps to provide security for your family. TC 91483(0816)1 8 © 2016 National Life Group®

What You Need and What You Can Afford What if you can’t afford today the coverage you will need tomorrow? What if you have a gap in coverage? © 2016 National Life Group® TC 91483(0816)1 9 2016 National Life Cat #© 102912 TCXXXXX(0716) Group®

Middle America As your life grows you have more you need to protect. $100,

Middle America As your life grows you have more you need to protect. $250,

Middle America As your life grows you have more you need to protect. $625, 000 DEATH BENEFIT $ 2 Student Loans + Car 2 Student Loans + Income + Car Replacement Loans + Income + Mortgage Replacement + Child Care & Education TC 91483(0816)1 12 © 2016 National Life Group®

Middle America As your life grows you have more you need to protect. $1, 000 DEATH BENEFIT $ 2 Student Loans 2 Student + Car Loans++Income Car Loans Replacement + Income Replacement + Mortgage + +Child Mortgage Care &+ Education Child Care+&Caring Education for Aging Parents TC 91483(0816)1 13 © 2016 National Life Group®

Introducing Gap Protector Rider • Buy insurance at your age now, not at your age and health later on. • Saves you the cost of waiting … locks in future protection at today’s health • Designed for those that need additional coverage, but need to work up to affording it • The amount of life insurance coverage and its premium can be increased annually by a pre-selected amount • You don't have to qualify again regardless of health issues • Available only at issue The GAP Protector Rider (GPR) is optional, available at policy issue only, incurs additional charge, and may not be available in all states. TC 91483(0816)1 14 © 2016 National Life Group®

Locking in Future Protection With GPR coverage your premium is locked in at today’s health regardless of future health issues. Today’s Age = 30 Today’s Health = GOOD PREMIUM Premium = SET AT CURRENT RATES As with all permanent life insurance, the cost of insurance increases with the insured’s age. TC 91483(0816)1 15 © 2016 National Life Group®

GPR Saves You the Cost of Waiting AGE 30 $250, 000 Total Premiums Paid Over 20 Years Without GPR* DEATH BENEFIT $182, 094 AGE 30 Total Premiums Paid Over 20 Years With GPR* $250, 000 DEATH BENEFIT $113, 647 AGE 50 $1, 000, 000 DEATH BENEFIT Save $68, 447 by buying coverage today *Assumes coverage purchased annually at a 15% increase to the death benefit from the prior year. Premium is based on target premium. ** Assumes coverage purchased at age 30 with 15% GPR and is based on target premium. ***Rates calculated on a male, standard health, LSW Living Life Product TC 91483(0816)1 16 © 2016 National Life Group®

What would happen if you became ill? Everyone lives longer – some are living longer ill. 41% of Americans struggle to pay medical bills and have outstanding medical debt 1 1/2 men & 1/3 women will develop cancer in their lifetime 3 Strokes are a leading cause of disability; in the US someone has a stroke every 40 seconds 2 1. National Center for Health Statistics, Financial Burden of Medical Care, January-June 2011 2. American Heart Association, American Stroke Association; Heart disease and stroke statistics-2015 3. American Cancer Society. Lifetime Risk of Developing or Dying from Cancer, 2014 TC 91483(0816)1 17 © 2016 National Life Group®

You might survive an illness but would your budget? Could you live without your income for over 6 years? 6 YEARS 50% 65% The average length of a disability (82 months) of disabled Americans are in their working years 18 -64 of working Americans report they could NOT cover normal living expenses even for a year if their employment income was lost Source: http: //www. disabilitycanhappen. org/chances_disability/disability_stats. asp TC 91483(0816)1 18 © 2016 National Life Group®

Protection Against the Unexpected Accelerated Benefits Riders – – Terminal Illness Chronic Illness Critical Injury Benefits could be used for any purpose 1, such as: • Household expenses • Nursing home care • Dream vacation 1. With the exception that ABR proceeds for chronic illness in the state of Massachusetts can only be used to pay for expenses incurred for Qualified Long. Term care services which are defined as: The necessary diagnostic, preventative, therapeutic, curing, treating, mitigating and rehabilitative services, and maintenance or personal care services that are required by a chronically ill individual and are pursuant to a plan of care by a licensed health care practitioner. Payment of Accelerated Benefits will reduce the Cash Value and Death Benefit otherwise payable under the policy. Receipt of Accelerated Benefits may be a taxable event and may affect your eligibility for public assistance programs. Please consult your personal tax advisor to determine the tax status of any benefits paid under this rider and with social service agencies concerning how receipt of such payment will affect you. Please refer to the end of this presentation for additional details. © 2016 National Life 19 TC 91483(0816)1 Group®

Can you afford to live in retirement for 20+ years? People invested in the market in 2008 lost upwards of 20 k in their retirement accounts 2 1 OUT OF 4 20+ sixty five year olds will live past the age of 90 Years in Retirement 1 1. La. Canfora, M. (2010, July 15) 2. Forbes. April 9, 2015. TC 91483(0816)1 20 © 2016 National Life Group®

Living Longer…Costs More No parent wants to be an expense their children have to inherit. $ The average retirement health care premium costs for a 65 year old healthy couple retiring this year is $266, 5891 60% of people with cancer are 65 and older 2 A semi-private room in a nursing home costs $74, 820 annually 3 1. https: //www. hvsfinancial. com/Public. Files/Data_Release. pdf 2. http: //www. cancer. net/navigating-cancer-care/older-adults/aging-and-cancer 3. http: //longtermcare. gov/costs-how-to-pay/costs-of-care/ TC 91483(0816)1 21 © 2016 National Life Group®

How do you make what you’ve saved last? The Lifetime Income Benefit Rider (LIBR)

Lifetime Income Benefit Rider - A potential income for life guaranteed! - Automatically added to eligible policies - No additional charge to add the rider - Two payout options: Level or Increasing The Lifetime Income Benefit Rider provides a benefit for the life of the insured if certain conditions are met, including but not limited to the insured’s attained age being between age 60 and 85, and that the policy has been inforce for at least 10 years. Insufficient policy values or outstanding policy loans may also restrict exercising the rider. Exercising the rider and receiving an income benefit will reduce the policy’s cash value and death benefit and may terminate other riders or reduce their benefits. Except in the case of a Modified Endowment Contract (MEC), withdrawals up to the basis paid into the contract and loans thereafter will not result upon contract lapse or surrender. All benefit payments will be taxable on Modified Endowment Contracts. Please seek tax advice from an appropriate professional advisor. © 2016 National Life 23 TC 91483(0816)1 Group®

Let’s Focus on Living Life is a cash value policy. Cash value accumulates tax-deferred, and can be accessed using policy loans and withdrawals* for your lifetime needs: • Buying a home • College savings • Retirement planning *The ability of a life insurance contract to accumulate sufficient cash value to help pay expenses or meet accumulation goals will be dependent upon the amount of extra premium paid into the policy, and the performance of the policy, and is not guaranteed. Policy loans and withdrawals reduce the policy’s cash value and death benefit and may result in a taxable event. If remaining policy values and scheduled premiums are insufficient, additional out-ofpocket payments may be needed to keep the policy inforce. Surrender charges may reduce the policy’s cash value in early years. © 2016 National Life 24 TC 91483(0816)1 Group®

Different Ways You Can Save AFTER TAX-DEFERRED PRE-TAX TAX-FREE • Private Savings i. e. CD • Annuities • Traditional IRA • Roth IRA • Qualified Plan/401(k) • Permanent Life Insurance Cash Value 1 It’s not just about how much you accumulate for retirement… …you also need to factor taxes on retirement income. Examples shown (except CD): No bank guarantees; Not a deposit; Not FDIC/NCUA insured; May lose value; Not insured by any federal or state government agency 1. Policy loans and withdrawals reduce the policy’s cash value and death benefit and may result in a taxable event. Withdrawals up to the basis paid into the contract and loans thereafter will not create an immediate taxable event, but substantial tax ramifications could result upon contract lapse or surrender. TC 91483(0816)1 25 © 2016 National Life Group®

Do you want to pay taxes on the seed or harvest? NOW TC 91483(0816)1

Where do you think tax rates are going to go? If you think tax rates are going to go up, you may want to save tax-free TAX RATE If you think tax rates are going to go down, you may want to save pre-tax. TC 91483(0816)1 27 © 2016 National Life Group®

How does living life provide the potential for tax-free income? Each premium payment you make Provides an income-tax free death benefit 1 to your named beneficiary Builds cash value income tax-deferred Optional Accelerated Benefit Riders allow you to access the death benefit during lifetime in the event of a Terminal, Chronic, Critical Illness or Critical Injury. 2 Cash value that you can use during your lifetime, through policy loans and withdrawals, to provide a tax-free retirement income. 2 1. Internal Revenue Code § 101 (a)(1). There are some exceptions to the rule. Please consult a qualified tax professional for advice concerning your individual situation. 2. It is possible that coverage will expire when either no premiums are paid following the initial premium, or subsequent premiums are insufficient to continue coverage. TC 91483(0816)1 28 © 2016 National Life Group®

Lifetime Income Benefit Rider GUARANTEED TAX-FREE STREAM OF RETIREMENT INCOME YOU CAN’T OUTLIVE* *

Your Dreams Can Start With Living Life UPSIDE POTENTIAL Living Life Indexed Universal Life

Upside Potential Downside Protection – How it works Start Date End Date Point to Point S&P 500 Index Growth Rate Annual Point to Point Cap Focus Interest Credited 5/21/07 5/21/08 -8. 812% 0. 000% 5/21/08 5/21/09 -36. 124% 0. 000% 5/21/09 5/21/10 22. 442% 14. 000% 5/21/10 5/21/11 22. 578% 13. 500% 5/21/11 5/21/12 -1. 296% 0. 000% 5/21/12 5/21/13 26. 837% 13. 000% 5/21/13 5/21/14 13. 113% 13. 000% 5/21/14 5/21/15 12. 859% 5/21/15 5/21/16 -3. 684% 0. 000% Numbers shown represent the performance of our strategies, which are based on the growth of the S&P 500 index, excluding dividends, without direct market participation and with guaranteed protection against negative returns. Policy values may decline if premiums paid out-ofpocket are insufficient to cover insurance costs and other charges. Guarantees are dependent upon the claims-paying ability of the issuing company. The interest credited to the indexing strategy is limited by a "cap", which is the maximum amount of the increase that will be credited as interest Past performance is not indicative of future index performance and historical interest rates should not be construed as interest rates to be paid in the future on any product offered by the insurance companies of National Life Group. There administrative, cost of insurance and other charges associated with indexed universal life policies. The rates shown in this exhibit do not reflect these charges. All historical interest rates are based on LSW Secure. Plus Paragon indexed universal life insurance, form series 8387/83871 D (04/07), underwritten by Life Insurance Company of the Southwest. LSW Secure Plus Paragon is no longer available for sale. © 2016 National Life 31 TC 91483(0816)1 Group®

The Life Insurance Solution For You Life Insurance Accelerated Benefits Riders Death benefit for income replacement Access to benefits in the event of a Terminal, Chronic, Critical Illness or Critical Injury Gap Protector Rider Coverage for tomorrow at today’s health and rates Cash Value = Potential tax-free retirement income MULTIPLE needs ONE combined solution One Product – One Monthly Premium* – One Company *Payments can also be made quarterly, semi-annually, or annually TC 91483(0816)1 32 © 2016 National Life Group®

Achieve Your Dreams While you are living life, dreaming and planning… Living Life is

The Lifetime Income Benefit Rider is optional and available at policy issue. Benefit payments are funded via policy loans, which willreduce the policy’s cash value and death benefit. The policyholder cannot make additional premium payments or request additional withdrawalsor policy loans during the benefit payment period or the rider will terminate. Terminating the rider may result in a lapsed policy and substantial tax consequences. Living Life Indexed Universal Life Insurance, form series 20182(0614), ICC 14 -20182(0614), and all associated riders are underwritten by. Life Insurance company of the Southwest, Addison, TX. Riders are optional, may require additional premium and may not be available in all states. The riders referenced in this brochure and their form numbers include: Terminal Illness Rider (ABR), form series 8052, ICC 10 -8844; Chronic Illness Rider (ABR), form series 8095, 8766, ICC 10 -8844; Critical Illness Rider (ABR), form series 8165, 20287, ICC 15 -20287; Critical Injury Rider (ABR), form series 20288, ICC 15 -20288. Accidental Injury Death Benefit Rider, 20187(0614), ICC 14 -20182(0614); Children's Term Rider, 20324(0915), ICC 15 -20324(0915); GAP Protector Rider, 20325(0915), ICC 15 -20325(0915); Lifetime Income Benefit Rider, 20266(0614); Waiver of Surrender. Charge - Unemployment Rider, 20189(0614) For costs and complete details of the coverage, write or call your agent or company. None of the information in this piece is intended as tax orlegal advice. Please consult with your Attorney or Accountant prior to acting upon any of the information containedherein. Accelerated Benefits Riders: form series 8052/8095/8165/8766/ICC 10 -8844(0310)/20287(1014), ICC 15 -20287(0115) /20288(1014), ICC 15 -20288(0115). Riders are optional, may be subject to underwriting, exclusions and/or limitations and may not be available in all states or on allproducts. Receipt of accelerated benefits will reduce the cash value and death benefit, may be a taxable event and may affect a family’s eligibility forpublic assistance programs. Please consult your personal tax advisor to determine the tax status of any benefits paid under this rider and withsocial service agencies concerning how receipt of such a payment will affect you, your spouse and your family’s eligibility for public assistance. This rider is intended for favorable tax treatment under Section 101(g) of the Internal Revenue Code (26 U. S. C. Sec. 101(g)). Whether suchbenefits qualify depends on factors such as your life expectancy at the time benefits are accelerated or how the benefits are used. There is no restriction placed on the use of the accelerated benefit with the exception that ABR proceeds for chronic illness in the stateof Massachusetts can only be used to pay for expenses incurred for Qualified Long-Term Care services, which are defined as: The necessarydiagnostic, preventative, therapeutic, curing, treating, mitigating and rehabilitative services, and maintenance or personal care services that are required bya chronically ill individual and are provided pursuant to a plan of care prescribed by a licensed health care practitioner. The actual payment you receive will be less than the portion of the death benefit accelerated because the benefits are paid prior to death. Values are based on a current interest rate and mortality rates. There is an initial administrative fee at the time the rider is exercised. We currently limitthe amount of death benefit that may be accelerated under all contracts made over the entire lifetime of the insured to $1, 500, 000 for terminalillness and chronic illness, and $1, 000 for critical illness or critical injury. We reserve the right to change this limit in the future; however the limit will never be less than $500, 000. Other restrictions, limitations and waiting periods may apply. National Life 34 death benefit, on a discounted basis, if the insured has©an 2016 TC 91483(0816)1 Our Terminal Illness rider allows for the payment of a portion of an insured’s illnessor chronic Group® condition which can reasonably be expected to result in death in 24 months or less (12 months for CT, PA and VT). There is noadditional premium for

Our Chronic Illness rider allows for the payment of a portion of an insured’s death benefit, on a discounted basis, if the insured is. Chronically Ill. A chronic illness is defined as one that leaves you unable to perform, without substantial assistance, two of the six normal activities of dailyliving for a period of at least 90 consecutive days due to a loss of functional capacity or requires substantial supervision to protect oneself from threatsto health and safety due to severe cognitive impairment. The six activities of daily living include bathing, continence, dressing, eating, toileting, and transferring. There is no additional premium for this rider. Our Critical Illness or Critical Injury riders allow for the payment of a portion of an insured’s death benefit, on a discounted basis, if theinsured is critically ill or critically injured. Covered critical illnesses are: ALS (Lou Gehrig’s disease), Aorta Graft Surgery, Aplastic Anemia, Blindness, Cancer, Cystic Fibrosis, End Stage Renal Failure, Heart Attack, Heart Valve Replacement, Major Organ Transplant, Motor Neuron Disease, Stroke, and Sudden Cardiac Arrest. Covered critical injuries are: Coma, Paralysis, Severe Burns, and Traumatic Brain Injury. Covered critical illness or critical injury conditions may vary by state. Covered Critical illness in the state of MA includes: Coronary artery disease resulting in acute infarctionvascular or requiring surgery; End-stage Renal Disease; Major organ transplant; Permanent neurological deficit resulting from cerebral vascularaccident; Diagnosis of an invasive malignancy characterized by the uncontrolled growth and spread of malignant cells and the invasion of tissue. Cancer does not include: Stage A Prostate Cancer; Any skin cancer, except invasive malignant melanoma into the dermis or deeper; Pre-malignant lesions, benign tumors, or polyps; and Carcinoma in-situ. There is no additional premium for this rider. Accelerated Benefits Riders (ABR) vs. Long-term Care (LTC) Insurance Certain states require advertising for ABRs to provide a comparison to the benefits provided by LTC insurance. However, Accelerated. Benefits provided by the ABR riders are not long-term care insurance, and are not intended to be the same as, or an alternative to, long-termcare insurance. This is a life insurance benefit that also gives you the option to accelerate some or all of the death benefit in the event that you meet the criteria for a qualifying event described in the policy. This policy or certificate does not provide long-term care insurance subject to California long-term care insurance law. This policy or certificate is not a California Partnership for Long-Term Care program policy. This policy or certificate is not a Medicare supplement (policy or certificate). ABR Riders are supplemental benefits that can be added to a life insurance policy and are not suitable unless you also have a need forlife insurance. Receipt of benefits may reduce or eliminate the availability of other policy riders and benefits. Benefits available arecalculated at time of claim based on the age of the policy and our expectation of your future mortality. The amount of Accelerated Benefit availablewill depend on your life policy’s death benefit value when ABR benefits are claimed. For policies in good standing, if ABR benefits are notused, policy death benefits and other rider benefits are still available. Long-term care (LTC) insurance is not life insurance, and as such, has no death benefit or cash value. LTC insurance benefits arespecified at the time of the contract. LTC benefits are paid as a form of expense reimbursement for qualified long-term care expenses. Bycomparison, since ABR © 2016 National Life TC 91483(0816)1 benefits can be used for any reason, they are paid once qualifications 35 are met, and do not require you to provide receipt of specific expenses to Group® qualify for the benefit. LTC premiums vary based on the level and length of benefit chosen by the policyholder. Premiums arepaid on a recurring

The Participation Rate is the maximum percentage of the annual increase in the Index that will be credited. The Cap is the maximum earnings percent that will be credited. Participation Rates and Caps are subject to change annually for a given indexed segment. The minimum Guaranteed Participation and Cap rates are: • Strategy 1, S&P 500, Point-to-Point, Cap Focus. PR = 100%, Cap = 3. 1% • Strategy 2, S&P 500, Point-to-Point, Participation Focus. PR = 110%, Cap = 3. 0% • Strategy 3, MSCI, Point-to-Point, Cap Focus. PR = 100%, Cap = 3. 0% In the event the market declines, the policy has a built-in 0% interest crediting floor. The Floor is the minimum earnings percent that will be credited. The minimum annual rate of interest credited to funds in the fixed-interest strategy is 2. 5% and the minimum interest credited in the indexed strategies is 2. 5% upon death or full surrender. Monthly deductions from the account value include a monthly policy fee, monthly expense charge, cost of insurance charge, monthly account value charge, and applicable rider charges. In addition there is a surrender charge if the policy is lapsed or surrendered in the first 10 years from issue or following an increase. Surrender charges vary based on gender, rate classification, issue age, and policy year. Excess Interest Formula: Index earnings for each indexed segment are calculated at the end of the crediting period as follows: index growth is multiplied by the segment's participation rate, adjusted so that this rate is no greater than the segment's index earnings cap, and no less than 0%; multiplied by the value in the indexed segment value. Failure to maintain the policy to maturity will result in no participation in the equity index. Index earnings are not direct participation in any stock or equity investment. There are two death benefit options from which to choose: Option A: Level Death Benefit = Face Amount; Option B: Increasing Death Benefit = Face Amount + Account Value. Upon death of the insured, a death benefit equivalent to the death benefit at the time of the insured’s deathless any policy debt and less other amounts owed to the insurance company will be paid to the beneficiary. The policy will then be terminated andall rights including access to the cash surrender value shall cease. “Standard & Poor’s®”, “S&P 500®”, and “Standard & Poor’s 500™” are trademarks of Standard & Poor’s and have been licensed foruse by Life Insurance Company of the Southwest. This Product is not sponsored, endorsed, sold or promoted by Standard & Poor’s and. Standard & Poor’s makes no representations regarding the advisability of investing in the Product. The S&P Composite Index of 500 stocks (S&P 500®) is a group of unmanaged securities widely regarded by investors to be representative of large-company stocks in general. An investment cannotbe made directly into an index. The S&P 500® Index does not reflect dividends paid on the stocks underlying the index. TC 91483(0816)1 36 © 2016 National Life Group®