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“I wonder about members of Associations?”

Proposal For: World Financial Group VOLUNTARY LIFE INSURANCE PROGRAM Presented By: SECURITY MUTUAL LIFE INSURANCE COMPANY OF NEW YORK January 9, 2004

Why SECURITY MUTUAL LIFE For more than a century, Security Mutual Life Insurance Company of New York has earned the trust, respect and confidence of hundreds of thousands of policyowners and has paid dividends each year for more than 110 years. From $15,000 in assets its first year in existence, Security Mutual has grown to more than $1.5 billion in assets, with more than $26 billion of life insurance in force. The Company’s strong performance represents the cumulative effects of many steps taken over time. We have also made substantial progress to effectively position the Company to prosper and grow throughout the new century. Security Mutual is committed to conducting business according to high standards of fairness, honesty and integrity. This guiding philosophy, combined with sound investment and management practices, enables the Company to keep its commitments and earn the public’s confidence, year after year. Security Mutual: commitment to policyowners, a tradition of excellence, a vision for the future. NOTES

Why SECURITY MUTUAL LIFE (cont’d.) Ratings* Our financial strength and ability to meet our obligations are recognized industry-wide by these independent ratings services: A.M. Best...A (Excellent) Rating is the third highest on a 16-step rating scale. Fitch Ratings...A+ (Strong) Rating is the fifth highest on a 21-step rating scale. Standard & Poor’s...A+ (Strong) Rating is the fifth highest on a 20-step rating scale. *Ratings reflect the respective organization’s opinion of a company’s financial strength and ability to meet its obligations to policyowners. The organization’s rating is not a warranty of an insurer’s current or future ability to meet its obligations to policyowners nor is it a recommendation of any specific policy form. NOTES

The SecurUL ADVANTAGE Security Mutual’s SecurUL program began over 20 years ago and has grown steadily by providing outstanding products backed by superior service. The advantages of the SecurUL program are shared by your entire organization: Advantages to Employer Expand Fringe Benefit Program No Direct Cost Shows Concern for Employees Can Increase Employee Morale, thereby Reducing Turnover and Improving Productivity Enhances Employees’ Financial Security Hands-Free Administration Not Subject to ERISA or DOL – No IRS Approval NOTES

The SecurUL ADVANTAGE (cont’d.) Advantages to Employee Affordable Premium Rates Increases Financial Security Convenient and Easy-to-Pay Premiums – Payroll Deduction Flexibility in Meeting Changing Needs Guaranteed Issue Underwriting Opportunity to Protect Family Members Continuation of Coverage after Retirement Tax-Deferred Account Values Portability Permanent Protection Personalized Enrollment Supplements Employers’ Fringe Benefits NOTES

PROGRAM OFFERING Your employees are eligible for the following product and underwriting offer: Guaranteed Issue SecurUL is being made available to your organization on a Guaranteed Issue basis. All eligible employees may apply for coverage knowing that it will be issued and cannot be denied. Coverage Levels –Employee Maximum – Coverage purchased by $10/week –Spouse Maximum – Coverage purchased by $4/week –Child Maximum – Coverage purchased by $2/week –Additional amounts available on a simplified issue basis Premiums Our guaranteed issue program allows employees and spouses to participate at higher levels of coverage if desired. A blended unisex rate is available for all participants. Nonsmoker rates are available. NOTES

PROGRAM OFFERING (cont’d.) Eligibility –Employee must be actively at work on a permanent basis with your organization. –Spouses and children are eligible without employee participation. –Coverage available through age 70 for employee/spouse. –Children are eligible through age 23 if a full-time student, otherwise age 18. Optional Riders Employees may choose policies with optional riders to best meet their needs. Optional riders available to your workforce include: –Disability Waiver, available for issue ages 0 through 55 –Accidental Death Benefit, available for issue ages 0 through 60 –Living Benefits Rider, available for issue ages 0 through 70 –Children’s Term Rider, available for issue ages 14 days to 18 NOTES

PROGRAM OFFERING (cont’d.) Interest Rates 4.5% is the guaranteed minimum rate 5.25% is the current interest rate Portable Coverage Once purchased policies remain in force as long as premiums continue to be paid. Even if employees change jobs or retire, coverage remains intact and SML simply bills directly through a variety of convenient payment methods. Communication Prior to the actual enrollment the SecurUL GI program will be communicated to eligible groups through a combination of: –Brochures –Posters – –Small Group Meetings NOTES

Guaranteed Issue Universal Life Insurance Sample Rates – Non-Smoker

Your group is eligible to apply for coverage on a conditional guaranteed issue basis. No medical exam or blood test will be required to apply. Acceptance within the program is dependent on the answers to a few short questions in the application and the truthfulness thereof. Eligibility –Employee/Spouse Actively at work, 17 1/2 hours a week Employed at least three (3) months Coverage available through issue age 70 Children –Under age 23 and a full-time student, otherwise age 18 Issue Limits –Employee Minimum – $4.00/Week Maximum – $100,000 Death Benefit –Spouse Minimum – $4.00/Week Maximum – $7.00/Week –Children Minimum – $2.00/Week Maximum – $2.00/Week LifePlan – Specifications

SECURITY MUTUAL LIFE INSURANCE COMPANY OF NEW YORK SECURITY MUTUAL BUILDING 100 COURT STREET P.O. BOX 1625 BINGHAMTON, NY LifePlan Whole Life Insurance for PROSPECTIVE CLIENT Presented by World Financial Group

Premiums –The amount of premium payable is selected by the applicant, subject to specified minimums and maximums. A blended unisex rate is applicable to all participants in the program. Smoker and nonsmoker rates apply for issue ages 21 and greater. Cash Value –The cash value of the policy grows on a tax deferred basis. No income tax is due until the policyowner withdraws the funds or cancels the policy. Dividends –The policy is eligible to receive dividends provided premiums are paid in full. Dividends are not guaranteed. No dividend will be payable for the first policy year until all required premiums for the second policy are paid. LifePlan – Whole Life

Disability Benefits –Under the optional waiver of premium feature, the insurer will continue to make premium payments if the insured is totally disabled for six months or more, as defined in the policy. –Available for issue ages 0 – 55. Accidental Death Benefit –Additional protection can be purchased by adding this rider. This protection is available only through issue age 60. It provides a death benefit in addition to the base policy death benefit, if death occurs as a direct result of an accident. Spousal Coverage –An employee can apply for coverage on the life of his or her spouse. The cost of the spousal policy is included in the employee's deduction. Coverage of Children –Qualifying children of eligible employees may also obtain insurance coverage. They can be covered through the purchase of either a separate policy or a term rider. Living Benefits Rider –This rider provides for a portion of the death benefit to be payable if the insured is terminally ill (as defined in the rider). Not available in all states. LifePlan – Additional Coverage

LifePlan – Whole Life Rates and Values $10.00 NONSMOKER WEEKLY PREMIUM Dividend Option – Paid-Up Additions Non-Guaranteed Cash Values and Benefits** Guaranteed Cash Values* 2001 Dividend Scale Paid-Up*** Issue Death 10th 20th At 10th 20th AtDeath BenefitDeath Benefit Age Benefit Year Year Age 65 Year Year Age 65 At Age 65 At Age 65 25$64,167$3,391$11,017$30,540$3,582$13,141$55,338$108,054$100, ,1133,54910,76923,4493,78713,00038,19177,12569, ,1113,53910,25417,4623,81412,51625,75254,67846, ,1153,4469,56312,6113,70211,66416,81838,45130, ,9563,3008,7458,7453,54510,69010,69027,31319, ,1193,0647,7425,3413,2919,4776,09519,39411, ,5352,7656,6352,7652,9678,1332,96713,8635, ,2512,4745, ,6586, ,2741,717 *Guaranteed Cash Values are based on the assumption that the Premiums shown are paid when due and no policy loan exists under the policy. **Non-Guaranteed illustrated values are based on Security Mutual’s 2001 Dividend Scale and are subject to change. Values may be higher or lower, but will never be less than the values shown under “Guaranteed Cash Values” column heading as long as the policyowner pays the required premiums and does not borrow against or surrender any Guaranteed Cash Values. ***The policyowner has the contractual right to request that the policy be placed under the Paid-Up Life Insurance Non-forfeiture option. If elected, the Death Benefit will be the amount that the Cash Surrender Value will purchase when applied as a single premium. Paid-Up Life Insurance shares in divisible surplus.

LifePlan – Whole Life Rates and Values $20.00 NONSMOKER WEEKLY PREMIUM Dividend Option – Paid-Up Additions Non-Guaranteed Cash Values and Benefits** Guaranteed Cash Values* 2001 Dividend Scale Paid-Up*** Issue Death 10th 20th At 10th 20th AtDeath BenefitDeath Benefit Age Benefit Year Year Age 65 Year Year Age 65 At Age 65 At Age 65 25$130,241†$6,883$22,361$61,987$7,270$26,672$112,326$219,329$204, ,744†7,20521,85847,5967,68826,38577,513156,534141, ,4137,18420,81235,4427,74025,40252,264110,97095, ,1546,99419,40925,5967,51223,67034,12978,03462, ,6246,69917,75117,7517,19621,69721,69755,43739, ,7776,22015,71310,8416,68019,23612,37239,36522, ,4725,61113,4675,6116,02316,5076,02328,13710, ,8075,02111,4061,8765,39714,0311,91320,8553,487 *Guaranteed Cash Values are based on the assumption that the Premiums shown are paid when due and no policy loan exists under the policy. **Non-Guaranteed illustrated values are based on Security Mutual’s 2001 Dividend Scale and are subject to change. Values may be higher or lower, but will never be less than the values shown under “Guaranteed Cash Values” column heading as long as the policyowner pays the required premiums and does not borrow against or surrender any Guaranteed Cash Values. ***The policyowner has the contractual right to request that the policy be placed under the Paid-Up Life Insurance Non-forfeiture option. If elected, the Death Benefit will be the amount that the Cash Surrender Value will purchase when applied as a single premium. Paid-Up Life Insurance shares in divisible surplus. †Amounts over $100,000 are subject to additional evidence of insurability.

LifePlan – Whole Life Rates and Values $2.00 CHILD POLICY WEEKLY PREMIUM Dividend Option – Paid-Up Additions Non-Guaranteed Cash Values and Benefits** Guaranteed Cash Values* 2001 Dividend Scale Paid-Up*** Issue Death 10th 20th At 10th 20th AtDeath BenefitDeath Benefit Age Benefit Year Year Age 65 Year Year Age 65 At Age 65 At Age 65 0$22,029$271$1,425$11,683$271$1,594$40,000$71,383$71, , ,51910, ,72829,99653,77653, , ,5758, ,80321,74439,42138, , ,6417, ,88915,75028,94928, , ,8116, ,12112,16822,76321,662 *Guaranteed Cash Values are based on the assumption that the Premiums shown are paid when due and no policy loan exists under the policy. **Non-Guaranteed illustrated values are based on Security Mutual’s 2001 Dividend Scale and are subject to change. Values may be higher or lower, but will never be less than the values shown under “Guaranteed Cash Values” column heading as long as the policyowner pays the required premiums and does not borrow against or surrender any Guaranteed Cash Values. ***The policyowner has the contractual right to request that the policy be placed under the Paid-Up Life Insurance Non-forfeiture option. If elected, the Death Benefit will be the amount that the Cash Surrender Value will purchase when applied as a single premium. Paid-Up Life Insurance shares in divisible surplus.

Summary Individuals or small groups join LBAA Guaranteed issue if working 17.5 hours/week Spouse and children guaranteed issue SecureUL- Whatever $50.83/month will purchase at your age. Spouse maximum-whatever 24.83/month will purchase LifePlan allows for $100,000 face amount with three additional questions. 1) HIV ? 2) Drug Use? 3) Hospitalized past 90 days?

Marketing Individuals with bumps and bruises Family, friends, Co-workers, and clients that have been turned down or rated Unions, associations, credit unions, banks, chamber of commerce, etc., are great candidates All employers that provide employee benefits