Business Unit Strategy Voluntary Benefit Solutions

VBS Current Strategy

Arenas Arenas Staging & Pacing Economic Logic Vehicles Differentiators Primary Arena Customers Employers in target industries Middle market; 100 – 5,000 employees Employees – pay 100% via payroll deduction Products (Guaranteed Renewable) Universal life with long term care rider Critical Illness Short-term disability Accident Hospital Indemnity plan Where United States

Arenas Arenas Staging & Pacing Economic Logic Vehicles Differentiators Secondary Arena (PFP) Customers Credit unions Members – pay 100% cost via credit union billing Products (Guaranteed Renewable) Short-term disability Critical Illness Accident Where United States

Arenas Where we are active… Customers Target industries (3 biggest) Schools, Healthcare, Municipalities Employers with low employee turnover/stable employment Credit Unions employee benefit relationship with PFP (Secondary) Products Mostly are “permanent” - guaranteed renewable/portable Limited traditional group benefits Lose when leave employer (non-portable)

Arenas Where we aren’t… Customers Employers with high employee turnover Retail Restaurants Associations/Direct to individuals Average salary below $30,000 Products Employer-paid or contributory benefits Supplemental Group Term Life, Auto, Home, Legal, Pet Insurance

Vehicles Arenas Staging & Pacing Economic Logic Vehicles Differentiators Distribution Brokers Benefit communication/enrollment firms Leverage existing customers for incremental growth New products/services Core: build or buy Non-core: borrow Vendor-provided enrollment systems

Vehicles Distribution Leverage existing customers for growth Brokers: Voluntary Specialists, National, Large Regional and Large Local Employee Benefits brokers sell to employers Benefit Communication/Enrollment Firms sell to employees Sometimes, Benefit Communication/Enrollment Firms do both Leverage existing customers for growth Re-enroll existing products with existing customers Sell new products to existing customers New products Core Build (if capability exists) Buy (if capability doesn’t exist) Non-Core Borrow or partner with other Trustmark business unit(s)

Differentiators Arenas Staging & Pacing Economic Logic Vehicles Best-in-class service Dependability/Reliability Responsiveness Payroll deduction expertise & administration Consolidated billing services (CBS) Innovative products/solutions Universal LifeEvents Life, Health and Wealth Long term relationships/partnerships

Differentiators Best-in-class service Payroll deduction expertise and administration VBS’ ability is known to be above and beyond the competitors Able to do it right (different pay periods, changes, etc.) Consolidated Billing Services Provide our payroll deduction billing to target employers for use with competitor products

Economic Logic Arenas Staging & Pacing Economic Logic Vehicles Identifying the “right” customer segment Employee access & participation Customer (employer & employee) retention Distribution partner intimacy/long term relationships Permanent products and best-in-class service Additional customers (employers) via consolidated billing Arenas Staging & Pacing Economic Logic Vehicles Differentiators

Economic Logic Identifying “right” employer segment Gain access to employees equates to higher participation Produces lower acquisition costs and higher margins Maintain high customer and insured persistency Produces higher margins Permanent products and best-in-class service Premium price for guarantee renewability and portable features Ability to charge more for known service levels Consolidated Billing capability Leverage expertise to gain more target employers Require our product(s) to be sold

Staging and Pacing Arenas Staging & Pacing Economic Logic Vehicles Differentiators 2013 Updated accident product Develop new CI product Complete and implement key business process improvements Hire VP Product and Innovation Implement VOC/market analysis 2014 Implement PAS Phase I (TLICNY & Term Life) File new CI product Expand RSD network Develop updated HIP & STD products Implement VOC, market dynamics and Net Promoter System

Staging and Pacing Arenas Staging & Pacing Economic Logic Vehicles Differentiators 2015 Implement PAS Phase II (UL) and Phase III (health products) File revised STD and HIP products New CI, HIP & STD products on PAS Explore potential updates to UL products

Staging and Pacing Implementation of PAS Key component to VBS’ ability to grow Deployment and timing of new products and availability of key resources linked to implementation of PAS project