Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN S.O.L.A.R. Insurance Arrangements Self-Owned Life And Retirement (S.O.L.A.R.) Insurance Arrangements This presentation contains information regarding insurance products for sale.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Disclosures  Voya Indexed Universal Life – Global Choice (Voya IUL-Global Choice), policy form series # /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 Caps and Index Participation Rates 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 which is solely responsible for the obligations under its own policies.  Voya Indexed Universal Life - Global Choice (Voya IUL-Global Choice) is a flexible premium, universal life insurance product designed to provide a death benefit and allow for surrender values. While the policy values may be affected by external indexes, the policy does not directly participate in any index fund, stock or equity investments. The product is not a variable product or any type of investment contract.  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.  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 matter addressed in this document. Each taxpayer should seek advice from an independent tax advisor.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Disclosures 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.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Disclosures  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. 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.  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. Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Security Life of Denver Insurance Company. Security Life of Denver Insurance Company's Voya Indexed Universal Life Insurance products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.  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.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Questions to ask yourself

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Questions to ask yourself What would happen to your business if your best employees went to work for a competitor?

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Questions to ask yourself What would happen to your business if your best employees went to work for a competitor? Are your worried about keeping key employees when the economy improves?

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Questions to ask yourself What would happen to your business if your best employees went to work for a competitor? Are your worried about keeping key employees when the economy improves?  As the economy improves, key employees may search for better opportunities elsewhere. –In a recent survey,* 84% of employees said they would pursue new job opportunities in the next year. * Right Management Survey – 2011

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Questions to ask yourself What would happen to your business if your best employees went to work for a competitor? Are your worried about keeping key employees when the economy improves? Is it hard to reward your top employees using a qualified retirement plan?

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Questions to ask yourself What would happen to your business if your best employees went to work for a competitor? Are your worried about keeping key employees when the economy improves? Is it hard to reward your top employees using a qualified retirement plan? Are you concerned about your company’s ability to pay promised retirement benefits?

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Questions to ask yourself What would happen to your business if your best employees went to work for a competitor? Are your worried about keeping key employees when the economy improves? Is it hard to reward your top employees using a qualified retirement plan? Are you concerned about your company’s ability to pay promised retirement benefits? Are you concerned about having to pay income taxes on death benefits paid from employer- owned life insurance?

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Questions to ask yourself What would happen to your business if your best employees went to work for a competitor? Are your worried about keeping key employees when the economy improves? Is it hard to reward your top employees using a qualified retirement plan? Are you concerned about your company’s ability to pay promised retirement benefits? Are you concerned about having to pay income taxes on death benefits paid from employer- owned life insurance? Would you like to avoid the complexity and administrative costs of nonqualified deferred compensation plans?

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Traditional solution – NQDC/SERP  Employers have traditionally used Deferred Compensation Plans to recruit, retain, and reward key employees  Many labels for the same concept –Nonqualified deferred compensation (NQDC) –Supplemental executive retirement plan (SERP) –Corporate-Owned Life Insurance (COLI) –§409A plan –Salary continuation –401(k) Look Alike / 401(k) Mirror 13

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Traditional solution – NQDC/SERP  Employer promises Employee future benefit (defined contribution or defined benefit)  Employer informally funds promise by purchasing life insurance policy on Employee  At retirement, or at death, Employee receives promised benefit from Employer  Arrangement is subject to IRC §409A 14

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Potential benefits of NQDC/SERP Arrangements For Employers:  “Golden Handcuffs”  Control of Funding Asset  Ability to Discriminate (i.e., offer benefits to select employees)  Cost Recovery For Employees:  Tax Deferral  Supplemental Retirement Income 15

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Potential concerns with NQDC Paradigm Employers:  No Current Tax Deduction  Funding Risk  Regulatory Restrictions  Balance Sheet Risk  Cost of Administration  Complexity Employees:  Future Tax Uncertainty  Exposure of Funding Asset  Potential 20% Penalties  No Portability  No Flexibility  Complexity 16

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Key question If there were a way to potentially provide an Employee with the same net benefit amount and eliminate the risks and concerns we’ve just discussed, would you be interested? 17

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN S.O.L.A.R. Insurance Arrangement

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN What is a S.O.L.A.R. Insurance Arrangement? Self-Owned Life And Retirement insurance arrangement using Life Insurance  A Paradigm for Executive Benefits –Corporate-Owned Life Insurance (COLI) model is replaced –S.O.L.A.R. Insurance Arrangements may give employees more control over retirement savings  A Product for Executive Benefits –Voya IUL-Global Choice – New Executive Benefits concept is wedded to a new life insurance product  Select Loans feature gives potential to reduce out-of-pocket costs related to income taxes  Indexed Strategy offers potential for cash value accumulation through index crediting potential based, in part, on a portion of the performance of two out of three market indexes 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. 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. 19

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN S.O.L.A.R. Insurance Arrangements Self-Owned Life And Retirement (S.O.L.A.R.) Insurance Arrangement funded with Voya Indexed Universal Life – Global Choice (Voya IUL-Global Choice) Life Insurance  An arrangement where Employee purchases a Voya IUL-Global Choice policy for death benefit protection and as a potential source of retirement income.  Bonused premium payments may be provided by Employer as a tool to Recruit, Reward, and Retain key talent.  Select Loan feature available to help Employee pay income taxes due on employer funds used to pay premiums. 20

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Introducing Voya IUL-Global Choice 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 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 claims-paying ability of Security Life of Denver Life Insurance Company. The product is not a variable product or any type of investment contract. 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. What indexed universal life insurance is not

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Death Benefit Protection Experience the Power of Life Insurance Valuable death benefit protection Life insurance has a powerful fundamental role – to bestow upon your beneficiary a full, tax-free death benefit in the event of a premature death. No other financial vehicle is as effective in providing financial security for your family should an untimely death occur. Your beneficiaries generally do not pay any income tax on the death benefit if it is paid in a lump sum. With Voya Indexed Universal Life – Global Choice (Voya IUL-Global Choice) you have the flexibility to choose what death benefit option best suits your life insurance needs. Since financial goals can change, you can increase or decrease the death benefit within certain limits after the first year.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN 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 Employee 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.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Select Loans The net result of having a Select Loan will vary depending on the index credits earned and/or the credited interest rates on the account value.  For example, if the account value earns over time an average of 9.0%, the net result of Select loans is a net gain of 3.0% –9.0% earned rate less 6.0% charged rate = 3.0% net gain  On the other hand, if the account value earns over time an average of only 1.0%, the net cost of Select Loans is 5.0% –6.0% charged rate less 1.0% earned rate = net cost of 5.0% Please note that this hypothetical example describes a financial result only and that interest charged on the loan that is not paid in cash is added to the loan amount and, in turn, results in increased loan interest charges.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN  Rather than rely on a single index, Voya IUL-Global Choice has a crediting strategy based on three different indexes: –S&P 500 ® Index –EURO STOXX 50 ® –Hang Seng Index  These indexes represent three different global markets (U.S., Europe, and Asia) Enhance the power with Three Indexes International Diversification

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN 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: 12% (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).

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN How the Index Credit is calculated 2)2 Year Global Indexed Strategy Current Index Cap: None (Guaranteed minimum is 10%) Current Participation Rate: 70% (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%)

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN 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 the policy owner 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.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN 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 account 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.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN How it works 5 steps to implement

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN –Agree to S.O.L.A.R. Insurance Arrangement EmployerEmployee 1

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN –Executive purchases Voya IUL-Global Choice Policy EmployerEmployee 1 Voya Life Companies

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN – Premiums are paid EmployerEmployee 1 3 Voya Life Companies

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN –Executive may use Select Loans to pay taxes EmployerEmployeeIRS Voya Life Companies

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN –Policy used as a potential source of retirement income 35 EmployerEmployeeIRS Voya Life Companies

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN S.O.L.A.R. Insurance Arrangements as a Retention Tool S.O.L.A.R. Insurance Arrangements can be structured as a Retention Tool for Key Employees:  An Employer can fund the purchase of a Voya IUL-Global Choice policy for a Key Employee through bonused premium payments –Premium payments made by the employer would be treated as taxable compensation to the employee –Employee can borrow funds from the policy to pay income taxes on premium payments made by the employer  Employer can use the “carrot” of promised future bonus payments which can be used to pay off all or a portion of the balance of Select Loans as an incentive for a Key Employee to remain with the business –Incentive S.O.L.A.R. Insurance Arrangement  Employer can use a supplemental employment agreement with the “stick” of liquidated damages (a penalty the Employee must pay to the Employer if he or she leaves early) to encourage a Key Employee to remain with the business –Restricted S.O.L.A.R. Insurance Arrangement 36

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Potential advantages & disadvantages for Employers Potential advantages  Current Tax Deduction  No Contribution Limits  Benefit Can Be Offered Selectively  Simple Administration  Potential for “Golden Handcuffs” Potential disadvantages  No Source of Cost Recovery  Life insurance policy is not an asset of the business 37

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Potential advantages & disadvantages for Employees Potential advantages  Potential Source of Tax-Free Supplemental Retirement Income*  Income Tax-Free Death Benefit**  No Contribution Limits  No IRS Penalties for Early Distributions Potential disadvantages  Immediate Taxation on Premium Bonuses  Risk That Amount Credited to Policy Will Be Less Than Amount Charged for Select Loans 38 * A portion of the policy’s surrender value may be available as source of supplemental retirement income through policy loans and partial withdrawals. 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). ** Proceeds from an insurance policy are generally income tax free (e.g., absent a transfer for value), and if properly structured, may also be free from estate tax.

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN Many questions What would happen to your business if your best employees went to work for a competitor? Are your worried about keeping key employees when the economy improves? Is it hard to reward your top employees using a qualified retirement plan? Are you concerned about your company’s ability to pay promised retirement benefits? Are you concerned about having to pay income taxes on death benefits paid from employer-owned life insurance? Would you like to avoid the complexity and administrative costs of nonqualified deferred compensation plans?

Do not put content on the brand signature area ©2014 Voya Services Company. All rights reserved. CN One potential solution S.O.L.A.R Insurance Arrangements