Retirement Extra Using Life Insurance A private retirement

Retirement Extra™ Using Life Insurance A private retirement option This presentation contains information regarding insurance products for sale. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619

Disclosures § Retirement Extra™ Using Life Insurance is, first and foremost, a concept. It is not a product or contract. § These materials are not intended to and cannot be used to avoid tax penalties and they were prepared to support the promotion or marketing of the matters addressed in this document. Each taxpayer should seek advice from an independent tax advisor. § 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. Each taxpayer should seek advice from his or her tax and legal advisors regarding their individual situation. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 2

Disclosures § Voya IUL-Global Choice, policy form series #1186 -09/12 has an equity Indexed feature, varies by state and may not be available in every state. It is issued by Security Life of Denver Insurance Company (Denver, CO), a member of the Voya® family of companies. Not available in New York. The index cap and index participation rate are subject to change for new index blocks. All guarantees are based on the financial strength and claims paying ability of Security Life of Denver Insurance Company who is solely responsible for the obligations under its own policies. § Voya Indexed Universal Life – Global Choice (Voya IUL-Global Choice) IS A FLEXIBLE PREMIUM ADJUSTABLE UNIVERSAL LIFE INSURANCE POLICY THAT OFFERS A DEATH BENEFIT TO THE BENEFICIARIES OF THE POLICY AND MAY BE PURCHASED TO MEET YOUR LIFE INSURANCE NEEDS. WHILE THE POLICY SURRENDER VALUES MAY BE DETERMINED BY REFERENCE TO AN INDEX-LINKED CREDITING STRATEGY, SUCH SURRENDER VALUES SUPPORT THE DEATH BENEFIT OFFERED UNDER THE POLICY. THIS POLICY IS NOT A VARIABLE CONTRACT OR AN INVESTMENT CONTRACT. § A portion of the policy’s surrender value may be available as a source of supplemental retirement income through policy loans and withdrawals. Income tax free policy distributions may be achieved by policy loans or withdrawing to the cost basis (usually premiums paid). This assumes the policy qualifies as life insurance, is not a modified endowment contract and is not lapsed or surrendered with an outstanding loan. Policy loans and withdrawals may reduce or eliminate index credits, generate an income tax liability, reduce available surrender value and reduce the death benefit, or cause the policy to lapse. Additionally, loans may limit the ability to make elections to the indexed strategy; if a loan results in amounts being deducted from a block prior to its block maturity date, no elections from the fixed strategy to the indexed strategy will be processed in the 18 months following the loan. Select Loans have the risk that policy performance may be lower than projected if the amount credited to the account value in the fixed strategy and/or indexed strategy is less than the fixed 6% interest charged on the policy loan. Detailed additional information about policy loans is located in the policy form and any personal policy illustration. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 3

Disclosures § S&P 500® Index – The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Security Life of Denver Insurance Company (“Security Life”). Standard & Poor’s®, S&P®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Security Life. This indexed universal life insurance policy (this “Policy”) is not sponsored, endorsed, sold or promoted by SPDJI, S&P, any of their respective affiliates (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the Policy or any member of the public regarding the advisability of paying premiums for the Policy or purchasing securities or the ability of the S&P 500 Index to track general market performance. S&P Dow Jones Indices’ only relationship to Security Life with respect to the S&P 500 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index is determined, composed and calculated by S&P Dow Jones Indices without regard to Security Life or the Policy. S&P Dow Jones Indices have no obligation to take the needs of Security Life or the owners of the Policy into consideration in determining, composing or calculating the S&P 500 Index. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of the Policy or the timing of the issuance or sale of the Policy or in the determination or calculation of the equation by which the Policy is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices have no obligation or liability in connection with the administration or marketing of the Policy. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice. § S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY SECURITY LIFE, OWNERS OF THE POLICY, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND SECURITY LIFE, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 4

Disclosures § Hang Seng Index– An index of the largest and most liquid stocks listed on the Stock Exchange of Hong Kong. It does not reflect dividends payable on the underlying stocks. The Hang Seng Index (the "Index”) is published and compiled by Hang Seng Indexes Company Limited pursuant to a license from Hang Seng Data Services Limited. The mark and name "Hang Seng Index” are proprietary to Hang Seng Data Services Limited. Hang Seng Indexes Company Limited and Hang Seng Data Services Limited have agreed to the use of, and reference to, the Index by Security Life of Denver Insurance Company (“Security Life”) in connection with this indexed universal life insurance policy (the "Policy”), BUT NEITHER HANG SENG INDEXES COMPANY LIMITED NOR HANG SENG DATA SERVICES LIMITED WARRANTS OR REPRESENTS OR GUARANTEES TO ANY BROKER OR HOLDER OF THE POLICY OR ANY OTHER PERSON (i) THE ACCURACY OR COMPLETENESS OF THE INDEX AND ITS COMPUTATION OR ANY INFORMATION RELATED THERETO; OR (ii) THE FITNESS OR SUITABILITY FOR ANY PURPOSE OF THE INDEX OR ANY COMPONENT OR DATA COMPRISED IN IT; OR (iii) THE RESULTS WHICH MAY BE OBTAINED BY ANY PERSON FROM THE USE OF THE INDEX OR ANY COMPONENT OR DATA COMPRISED IN IT FOR ANY PURPOSE, AND NO WARRANTY OR REPRESENTATION OR GUARANTEE OF ANY KIND WHATSOEVER RELATING TO THE INDEX IS GIVEN OR MAY BE IMPLIED. The process and basis of computation and compilation of the Index and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by Hang Seng Indexes Company Limited without notice. TO THE EXTENT PERMITTED BY APPLICABLE LAW, NO RESPONSIBILITY OR LIABILITY IS ACCEPTED BY HANG SENG INDEXES COMPANY LIMITED OR HANG SENG DATA SERVICES LIMITED (i) IN RESPECT OF THE USE OF AND/OR REFERENCE TO THE INDEX BY SECURITY LIFE IN CONNECTION WITH THE POLICY; OR (ii) FOR ANY INACCURACIES, OMISSIONS, MISTAKES OR ERRORS OF HANG SENG INDEXES COMPANY LIMITED IN THE COMPUTATION OF THE INDEX; OR (iii) FOR ANY INACCURACIES, OMISSIONS, MISTAKES, ERRORS OR INCOMPLETENESS OF ANY INFORMATION USED IN CONNECTION WITH THE COMPUTATION OF THE INDEX WHICH IS SUPPLIED BY ANY OTHER PERSON; OR (iv) FOR ANY ECONOMIC OR OTHER LOSS WHICH MAY BE DIRECTLY OR INDIRECTLY SUSTAINED BY ANY BROKER OR HOLDER OF THE POLICY OR ANY OTHER PERSON DEALING WITH THE POLICY AS A RESULT OF ANY OF THE AFORESAID, AND NO CLAIMS, ACTIONS OR LEGAL PROCEEDINGS MAY BE BROUGHT AGAINST HANG SENG INDEXES COMPANY LIMITED AND/OR HANG SENG DATA SERVICES LIMITED IN CONNECTION WITH THE POLICY IN ANY MANNER WHATSOEVER BY ANY BROKER, HOLDER OR OTHER PERSON DEALING WITH THE POLICY. Any broker, holder or other person dealing with the Policy does so therefore in full knowledge of this disclaimer and can place no reliance whatsoever on Hang Seng Indexes Company Limited and Hang Seng Data Services Limited. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker, holder or other person and Hang Seng Indexes Company Limited and/or Hang Seng Data Services Limited and must not be construed to have created such relationship. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 5

Disclosures § EURO STOXX 50® Index – An index of blue-chip stocks that are represented by 50 stocks covering the largest sector leaders in the EURO STOXX 50® index. It does not reflect dividends payable on the underlying stocks. The EURO STOXX 50® index is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland and/or its licensors (“Licensors”), which is used under license. The Voya Indexed Universal Life – Global Choice insurance policy is based, in part, on the index and is in no way sponsored, endorsed, sold or promoted by STOXX and its Licensors and neither of the Licensors shall have any liability with respect thereto. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 6

Retirement doesn’t happen by accident § It takes a well-conceived plan, and § It takes the discipline to follow through © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 7

In your planning, consider two possibilities: 1. You may be retired for a long time – Will you have long-term financial security? 2. You may die before retiring – Will your spouse and family be financially secure? © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 8

Increasing life expectancy People are living longer § As life expectancies increase, the number of years in retirement increases, meaning an increase in the amount needed for retirement saving. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 9

Sources of retirement income § Many people have three general sources of income when they retire: – Social Security – Employer-sponsored retirement plans – Personal assets / savings © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 10

Social Security How much of your income will Social Security replace? The amount you will receive depends on factors outside your control. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 11

Employer-sponsored retirement plans § Pension § Profit Sharing § 401(k) § 403(b) § SEP § Simple © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 12

Personal assets § IRAs § Roth IRAs § Cash Value Life Insurance § Annuities § Mutual Funds § Other investments © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 13

If you’re self-employed… You may have some special considerations: § Larger Social Security tax burden § Qualified plans can be more expensive because contributions must be made for other employees © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 14

If you’re highly compensated… You may have fewer options: § Higher income tax burden § Caps on qualified plan contributions may limit your options © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 15

Potential for increasing tax rates § There is increasing concern that income tax rates will go up in the future § If income tax rates go up, net spendable amount goes down Income Tax Rates Change Over Time Historical Marginal Tax Rates 1994 -2014 100% 80% 60% 40% 20% Maximum Rates have gone up and down ’ 15 ‘ 25 ’ 35 ‘ 45 ‘ 55 ‘ 65 ’ 75 ’ 85 ‘ 95 ‘ 05 ‘ 14 The Chart traces the highest federal personal income tax rates from 1915 to today. The amount of income subject to these varying rates has also changed. In 1965 -67, a rate of 70% applied to taxable income over $200, 000 equal to approximately $1, 043, 000 in current dollars. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 16 Year $50, 000 $200, 000 1944 75% 94% 1950 72% 90% 1960 72% 90% 1970 60% 70% 1980 55% 70% 1990 33% 2000 28% 36% 2014 25% 33% Source: Federal Individual Income Tax Rates History, Tax Foundation, 2014

Premature death can devastate your financial plans § If your income stopped because of your death, what would be the impact on your family? § Life insurance coverage on you may provide a “safety net. ” © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 17

Meeting the retirement income challenge Will you have saved enough to enjoy your retirement? © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 18

Hypothetical example § Assumptions used: – Your present age = 55 – You want to retire at age 65 (in 10 years) – You want $60, 000 annually in today’s dollars to live on at retirement – You feel inflation will average 4% for the rest of your life © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 19

Retirement income needed $200, 000 Amount needed for first year of retirement to buy what $60, 000 wll buy today $180, 000 $160, 000 $140, 000 $120, 000 $100, 000 $88, 704 $60, 000 $40, 000 $20, 000 $0 11 23 4% Inflation 35 47 59 611 713 Years of Retirement © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 20 815 917 1019 1121

Retirement income needed $200, 000 Amount needed for twenty-first year of retirement to buy what $60, 000 will buy today $180, 000 $160, 000 $194, 361 $140, 000 $120, 000 $100, 000 $88, 704 $60, 000 $40, 000 $20, 000 $0 11 23 4% Inflation 35 47 59 611 713 Years of Retirement © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 21 815 917 1019 1121

Hypothetical retirement income $200, 000 $180, 000 $160, 000 $140, 000 $120, 000 $100, 000 $80, 000 Will Social Security or government benefits make up this growing shortfall? $60, 000 $40, 000 $20, 000 $0 1 3 5 7 9 11 Years of Retirement © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 22 13 15 17 19 21

Some potential options: § Work longer – Retire later § Keep working – Don’t retire § Save more in: – Employer-sponsored retirement plans – Personal assets / savings § Explore other potential options such as life insurance © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 23

Some potential options: life insurance Why life insurance? § § § § Income tax free death benefit Tax deferred growth Tax free income Flexible contributions No IRS distribution requirements or penalties Complete control of the policy Will not affect Social Security © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 24

Life insurance and income tax 1. Income tax-free death benefits: – Life insurance death proceeds are generally not subject to income taxes (IRC Section 101) – Life insurance death benefits can be part of the insured’s taxable estate at death (whether any estate taxes are actually due on these death benefits depends on a number of factors; consult your tax advisor further details) © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 25

Life insurance and income tax 1. Income tax-free death benefits 2. Potential for income tax-deferred growth: – No income taxes are generally due on cash values that accumulate in the life insurance policy © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 26

Life insurance and income tax 1. Income tax-free death benefits 2. Potential for income tax-deferred growth 3. No income tax on return of premiums: – Cash values up to tax basis (total premiums paid) can be withdrawn from the policy free of income taxes; return of principal invested on an after-tax basis is generally not taxable in any investment – Policy withdrawals will reduce the cash value and may reduce death benefits © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 27

Life insurance and income tax 1. 2. 3. 4. Income tax-free death benefits Potential for income tax-deferred growth No income tax on return of premiums Income tax-free loans of policy cash values: – Cash values exceeding the tax basis may be borrowed from the policy free of income taxes as long as the policy remains in force; if the policy lapses or is surrendered before the insured’s death, the loan proceeds may become taxable – Policy loans and withdrawals may reduce death benefits – The policy must qualify as life insurance and must not be a modified endowment contract (MEC) © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 28

Life insurance offers other potential benefits § Unlimited and flexible premiums (subject to IRC Sections 7702 and 7702 A) § No distribution requirements or penalties § You control the policy § Should not affect Social Security benefits © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 29

Retirement Extra Using Life Insurance A strategy in which a life insurance policy is purchased to potentially provide both: § Death benefit protection for your family and § Supplemental assets for retirement Note: You must meet the insurer’s medical and other underwriting criteria to utilize this strategy. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 30

How Retirement Extra Using Life Insurance works - Step #1 © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 31

How Retirement Extra Using Life Insurance works - Step #2 © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 32

How Retirement Extra Using Life Insurance works - Step #3 *Policy loans/partial withdrawals may have tax implications and may cause the policy to lapse. Income tax free policy distributions may be achieved by policy loans or withdrawing to the cost basis (usually premiums paid). This assumes the policy qualifies as life insurance, is not a modified endowment contract and is not lapsed or surrendered with an outstanding loan. Policy loans and withdrawals may reduce the policy’s death benefit and available net surrender value. In addition, in the case with an indexed universal life policy, they may reduce or eliminate index credits and may limit your ability to make elections to the indexed strategy. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 33

How Retirement Extra Using Life Insurance works - Step #4 © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 34

How Retirement Extra Using Life Insurance works - Step #5 © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 35

Retirement Extra Using Life Insurance Why use Voya Indexed Universal Life–Global Choice (Voya IUL-Global Choice) in the Retirement Extra Using Life Insurance strategy? © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 36

Introducing Voya IUL-Global Choice is an individual indexed universal life insurance policy offering valuable death benefit protection supported by policy cash values calculated under a fixed strategy or indexed strategies. The three indexed strategies are the S&P 500 1 -Year Point to Point Indexed Strategy, the 2 -year Global Indexed Strategy and the 5 -year Global Indexed Strategy. While the policy values may be affected by external indexes, the policy does not directly participate in any index fund, stock or equity investments, and all policy guarantees are based solely on the financial strength and claimspaying ability of Security Life of Denver Life Insurance Company. The product is not a variable product or any type of investment contract. What indexed universal life insurance is NOT It is not an investment in the stock market and does not participate in any index fund, stock or equity investment. It is not a variable product or any type of investment contract. You do not buy or participate in an index. The indexes are simply measuring tools that are used determine the amount of the index credit the company will credit to the policy. It is not a policy where cash value is based upon performance of a variable investment option, such as in the case with variable universal life insurance. It is not meant to be used as an investment vehicle. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 37

Indexed strategy Voya IUL-Global Choice offers a strategy which can potentially provide you § Potential to have additional interest credited based, in part, upon market index performance § A guaranteed minimum interest rate § The enhancement of international diversification § The power of hindsight © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 38

Potential of market indexes § The crediting rate for the indexed strategy is tied to the changes in various market indexes – A market index is a tool that tracks the performance of a group of pre-defined stocks – Voya IUL-Global Choice gives you the potential to have additional interest credited based, in part, upon market index performance © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 39

How the index credit is calculated We offer three indexed strategies that credit interest based upon a portion of the increases, if any, in an index or indexes 1) S&P 500® 1 Year Point to Point Indexed Strategy Current index cap: 11. 5% (Guaranteed minimum is 3. 5%) Current participation rate: 100% (Guaranteed minimum is 100%) The S&P 500® 1 Year Point to Point Indexed Strategy measures the increases, if any, in the S&P 500® from the beginning to the end of the 1 year time period to help determine the index credit, if any (subject to an index cap). There can be as many as 12 blocks (if the policy owner started one block in each month of the year) in this strategy. So if the S&P 500® ends up higher than when it originally started one year prior at the beginning of the block, that block would earn an index credit (subject to an index cap). © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 40

How the index credit is calculated 2) 2 Year Global Indexed Strategy Current index cap: None (Guaranteed minimum is 100%) Current participation rate: 65% (Guaranteed minimum is 20%) 3) 5 Year Global Indexed Strategy Current index cap: None (Guaranteed minimum is 100%) Current participation rate: 90% (Guaranteed minimum is 15%) © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 41

How the index credit is calculated Both the 2 year and 5 year Global Indexed Strategies use these indexes: § § § S&P 500® EURO STOXX 50® Hang Seng Index The global indexed strategies are designed to allow you to benefit from the value of hindsight. That’s because at the end of each 2 -year or 5 -year period, a portion of only the top two Indexes are used in the index credit calculation. The index with the lowest change rate is never used. No guesswork to try and predict the better performing indexes in the beginning. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 42

Guaranteed minimum interest rate § Electing the indexed strategy in Voya IUL-Global Choice gives the opportunity for cash value accumulation through index crediting based, in part, on the performance of three stock market indexes. § Plus, interest will be credited to the policy’s cash value through a guaranteed minimum interest rate – The indexed strategy in Voya IUL-Global Choice offers a guaranteed minimum interest rate of 0% § So even if no index credits are applied, the policy will still credit the rate of 0% per year. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 43

Retirement Extra Using Life Insurance with Voya IUL Global-Choice § Hypothetical example – Male age 55 – Preferred Non-Tobacco risk class – $2, 000 monthly premium ($24, 000 annual) for 10 years – Option 2 (increasing) death benefit switching to level in year 10 – Guideline Premium Test definition of life insurance test – Hypothetical index crediting rate of 6. 72% with 100% elected to the two year global index strategy – Distributions from the policy from age 65 – 95* – Voya IUL-Global Choice using traditional loans: preferred loans available after the 10 th year *Policy loans and partial withdrawals may vary by state, reduce available surrender value and death benefit or cause the policy to lapse. Generally, policy loans and partial withdrawals will not be income taxable if there is a withdrawal to the cost basis (usually premiums paid), followed by policy loans (but only if the policy qualifies as life insurance, is not a modified endowment contract and is not lapsed or surrendered). © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 44

Retirement Extra Using Life Insurance with Voya IUL Global-Choice Voya IUL-Global Choice using Traditional Policy Loans The values illustrated are not guaranteed. They assume that the illustrated non-guaranteed elements of the policy will continue unchanged for all years shown. This is not likely to occur, and actual results may be more or less favorable than those shown Assumes an 6. 72% crediting rate and current charges. Results are significantly lower using a 0% crediting rate and guaranteed maximum charges and the policy will lapse in year 14. In addition, some of the illustrated policy loans and partial withdrawals will be not be available. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 45

Potentially higher distributions with Select Loans © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 46

Select Loans § Select Loans are policy loans in which an amount equal to the loan is added to the policy loan amount while also remaining in the fixed strategy and/or indexed strategy as elected by the policy owner – The interest rate charged on the loan amount for a Select Loan is fixed at 6. 0% per year, regardless of the index credits earned and/or the credited interest rates. – Allows Executive access to policy values while still enjoying the interest earnings potential offered by Voya IUL-Global Choice. – But: Select Loans have the risk that the amount credited will be less than the interest charged on the policy loan. As a result the policy performance may be lower than projected. Without additional premium or loan interest payments, the policy could lapse. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 47

Voya IUL-Global Choice with Select Loans § Hypothetical example – – – Male age 55 Preferred Non-Tobacco risk class $2, 000 monthly premium ($24, 000 annual) for 10 years Option 2 (increasing) death benefit switching to level in year 10 Guideline Premium Test definition of life insurance test Hypothetical index crediting rate of 6. 72% with 100% elected to the two year index strategy – Distributions from the policy from age 65 – 95* – Voya IUL-Global Choice using Select loans all years *Policy loans and partial withdrawals may vary by state, reduce available surrender value and death benefit or cause the policy to lapse. Generally, policy loans and partial withdrawals will not be income taxable if there is a withdrawal to the cost basis (usually premiums paid), followed by policy loans (but only if the policy qualifies as life insurance, is not a modified endowment contract and is not lapsed or surrendered). © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 48

Retirement Extra with Voya IUL-Global Choice with Select Loans Voya IUL-Global Choice using Select Policy Loans The values illustrated are not guaranteed. They assume that the illustrated nonguaranteed elements of the policy will continue unchanged for all years shown. This is not likely to occur, and actual results may be more or less favorable than those shown. Assumes an 6. 72% crediting rate and current charges. Results are significantly lower using a 0% crediting rate and guaranteed maximum charges and the policy will lapse in year 14. In addition, some of the illustrated policy loans and partial withdrawals will be not be available. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 49

Retirement Extra Using Life Insurance § You may need to accumulate more funds in order to retire. § You may also want your family to be secure if you die unexpectedly. § It may make sense to accomplish both goals in the same financial tool. © 2017 Voya Services Company. All rights reserved. CN 0523 -34610 -0619 50